<SEC-DOCUMENT>0001047469-15-002610.txt : 20150323
<SEC-HEADER>0001047469-15-002610.hdr.sgml : 20150323
<ACCEPTANCE-DATETIME>20150323172812
ACCESSION NUMBER:		0001047469-15-002610
CONFORMED SUBMISSION TYPE:	S-1/A
PUBLIC DOCUMENT COUNT:		25
FILED AS OF DATE:		20150323
DATE AS OF CHANGE:		20150323

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Virtu Financial, Inc.
		CENTRAL INDEX KEY:			0001592386
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				320420206
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-1/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-194473
		FILM NUMBER:		15719936

	BUSINESS ADDRESS:	
		STREET 1:		645 MADISON AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022-1010
		BUSINESS PHONE:		212-418-0100

	MAIL ADDRESS:	
		STREET 1:		645 MADISON AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022-1010
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-1/A
<SEQUENCE>1
<FILENAME>a2223212zs-1a.htm
<DESCRIPTION>S-1/A
<TEXT>
<HTML>
<HEAD>
</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>
<P><FONT SIZE=3 >
Use these links to rapidly review the document<BR>
<A HREF="#bg16701_table_of_contents">  TABLE OF CONTENTS</A> <BR>
<A HREF="#fa16701_index_to_consolidated_financial_statements">  INDEX TO CONSOLIDATED FINANCIAL STATEMENTS</A><BR></font>
</P>

<P style="font-family:arial;"><FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->





<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->




<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT> <FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;">


<FONT SIZE=2><B>As filed with the Securities and Exchange Commission on March&nbsp;23, 2015

  </B></FONT>

</P>

<P ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2><B> Registration No.&nbsp;333-194473  </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> <div style="width:100%;border-top:solid #000000 3.0pt;padding:0in 0in 0in 0in;font-size:3.0pt;"></div>
<div style="width:100%;border-top:solid #000000 1.0pt;padding:0in 0in 0in 0in;font-size:4.0pt;"></div>  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=4><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>  </B></FONT><FONT SIZE=2><B>Washington, D.C. 20549  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><I>


<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" >


 </I></FONT><FONT SIZE=2><B>

<!-- COMMAND=ADDING_LINEBREAK -->

<BR>  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B>


Amendment No.&nbsp;3<BR>
to

 </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=5><B>FORM S-1  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF&nbsp;1933  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><I>

<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" >


 </I></FONT><FONT SIZE=2><B>

<!-- COMMAND=ADDING_LINEBREAK -->

<BR>  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=5><B>Virtu Financial,&nbsp;Inc.<BR>  </B></FONT><FONT SIZE=2>(Exact name of registrant as specified in its charter) </FONT></P>
 <DIV style="padding:0pt;position:relative;width:100%;margin-left:0%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="31%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="31%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="31%" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="TOP">
<TD ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B>Delaware<BR> </B></FONT><FONT SIZE=2>(State or other jurisdiction of<BR>
incorporation or organization)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> 6200<BR> </B></FONT><FONT SIZE=2>(Primary Standard Industrial<BR>
Classification Code Number)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> 32-0420206<BR> </B></FONT><FONT SIZE=2>(I.R.S. Employer<BR>
Identification Number)</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><I>

<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" >


  </I></FONT><FONT SIZE=2>

<!-- COMMAND=ADDING_LINEBREAK -->

<BR></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;">


<FONT SIZE=2><B>900 Third Avenue<BR>
New York, New York 10022-1010<BR>
(212)&nbsp;418-0100<BR>  </B></FONT><FONT SIZE=2>(Address, including zip code, and telephone number, including area code, of registrant's principal executive offices)

</FONT>

</P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><I>

<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" >


  </I></FONT><FONT SIZE=2>

<!-- COMMAND=ADDING_LINEBREAK -->

<BR></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;">


<FONT SIZE=2><B>Douglas A. Cifu<BR>
Chief Executive Officer<BR>
900 Third Avenue<BR>
New York, New York 10022-1010<BR>
(212)&nbsp;418-0100<BR>  </B></FONT><FONT SIZE=2>(Name, address, including zip code, and telephone number, including area code, of agent for service)

</FONT>

</P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><I>

<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" >


  </I></FONT><FONT SIZE=2>

<!-- COMMAND=ADDING_LINEBREAK -->

<BR></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>Copies
to: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:100%;margin-left:0%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="48%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="48%" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="TOP">
<TD ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B>John C. Kennedy, Esq.<BR>
Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison&nbsp;LLP<BR>
1285 Avenue of the Americas<BR>
New York, New York 10019-6064<BR>
(212)&nbsp;373-3000</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B>Michael Kaplan, Esq.<BR>
Davis Polk&nbsp;&amp; Wardwell&nbsp;LLP<BR>
450 Lexington Avenue<BR>
New York, New York 10017<BR>
(212)&nbsp;450-4000</B></FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><I>

<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" >


  </I></FONT><FONT SIZE=2>

<!-- COMMAND=ADDING_LINEBREAK -->

<BR></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>Approximate
date of commencement of proposed sale to the public: </FONT><FONT SIZE=2><B>As soon as practicable after this Registration Statement becomes effective.  </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule&nbsp;415 under the Securities Act of
1933 check the following box:&nbsp;<FONT FACE="WINGDINGS">&#111;</FONT> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If this Form is filed to register additional securities for an offering pursuant to Rule&nbsp;462(b) under the Securities Act, please check the following box
and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.&nbsp;<FONT FACE="WINGDINGS">&#111;</FONT> </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If this Form is a post-effective amendment filed pursuant to Rule&nbsp;462(c) under the Securities Act, check the following box and list the Securities Act
registration statement number of the earlier effective registration statement for the same offering.&nbsp;<FONT FACE="WINGDINGS">&#111;</FONT> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If this Form is a post-effective amendment filed pursuant to Rule&nbsp;462(d) under the Securities Act, check the following box and list the Securities Act
registration statement number of the earlier effective registration statement for the same offering.&nbsp;<FONT FACE="WINGDINGS">&#111;</FONT> </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the
definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule&nbsp;12b-2 of the Exchange Act. </FONT></P>
 <DIV style="padding:0pt;position:relative;width:100%;margin-left:0%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="125pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="125pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="150pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="TOP">
<TD ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>Large&nbsp;accelerated&nbsp;filer&nbsp;<FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>Accelerated&nbsp;filer&nbsp;<FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>Non-accelerated&nbsp;filer&nbsp;<FONT FACE="WINGDINGS">&#253;</FONT><BR></FONT> <FONT  style="font-size:8pt;line-height:9pt;">(Do not check if a<BR>
smaller reporting company)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>Smaller&nbsp;reporting&nbsp;company&nbsp;<FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><I>

<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" >


 </I></FONT><FONT SIZE=2>

<!-- COMMAND=ADDING_LINEBREAK -->

<BR></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B>CALCULATION OF REGISTRATION FEE  </B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:100%;margin-left:0%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="141pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="141pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:4pt;text-indent:-4pt;"><FONT SIZE=2> </FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=5 VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="CENTER" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Title of Each Class<BR>
of Securities to be Registered</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Proposed Maximum<BR>
Aggregate Offering<BR>
Price(1)(2)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Amount of<BR>
Registration Fee(3)</B></FONT><BR></TH>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=5 VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:4pt;text-indent:-4pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Class&nbsp;A common stock, par value $0.00001 per share</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>$100,000,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>$12,880</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=5 VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;"><p style="font-family:arial;margin-left:4pt;text-indent:-4pt;"> &nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
<DIV style="padding:0pt;position:relative;text-align:left;margin-left:0%;">
 <DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Estimated
solely for the purpose of calculating the registration fee in accordance with Rule&nbsp;457(o) of the Securities Act of 1933, as amended. </FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Includes
shares subject to the underwriters' option to purchase additional shares of Class&nbsp;A common stock. </FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(3)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Calculated
pursuant to Rule&nbsp;457(o) of the Securities Act of 1933, as amended. Previously paid. </FONT></DD></DL>
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><I>

<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" >


  </I></FONT><FONT SIZE=2>

<!-- COMMAND=ADDING_LINEBREAK -->

<BR></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>The Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registrant shall
file&nbsp;a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section&nbsp;8(a) of the Securities Act of 1933 or
until the Registration Statement shall become effective on such date as the Commission, acting pursuant to said Section&nbsp;8(a), may determine.</B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><div
style="width:100%;border-top:solid #000000 1.0pt;padding:0in 0in 0in 0in;font-size:3.0pt;"></div>
<div style="width:100%;border-top:solid #000000 3.0pt;padding:0in 0in 0in 0in;font-size:4.0pt;"></div> </FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=1,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=326198,FOLIO='blank',FILE='DISK108:[13ZDI1.13ZDI16701]BA16701A.;48',USER='AGAETZ',CD='23-MAR-2015;10:58' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->





<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->




<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT> <FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>


<!-- COMMAND=ADD_TXTHEX,"" -->


</FONT><FONT COLOR="#FF4040" SIZE=2><B>The information in this preliminary prospectus is not complete and may be changed. These securities may not
be sold until the registration statement filed with the Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell nor does it seek an offer to buy these
securities in any state or jurisdiction where the offer or sale is not permitted.</B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;">

<FONT SIZE=2><B>






<!-- COMMAND=ADD_TXTHEX,"" -->


</B></FONT><FONT COLOR="#FF4040" SIZE=2><B>Subject to Completion. Dated March&nbsp;23, 2015.</B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;">


<FONT SIZE=4>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares

</FONT>

</P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=4><B>
<IMG SRC="g586409.jpg" ALT="GRAPHIC" WIDTH="189" HEIGHT="117">
  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=5><B>Virtu Financial,&nbsp;Inc.  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=4>Class&nbsp;A Common Stock </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=4><I>

<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" >


 </I></FONT><FONT SIZE=4>

<!-- COMMAND=ADDING_LINEBREAK -->

<BR></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This is an initial public offering of shares of Class&nbsp;A common stock of Virtu Financial,&nbsp;Inc. All of the
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock being offered are being sold by the Company. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior
to this offering, there has been no public market for the Class&nbsp;A common stock. It is currently estimated that the initial public offering price per share will be between
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Following
this offering, Virtu Financial,&nbsp;Inc. will have four classes of authorized common stock. The Class&nbsp;A common stock offered hereby and the Class&nbsp;C common
stock will have one vote per share. The Class&nbsp;B common stock and the Class&nbsp;D common stock will have 10 votes per share. TJMT Holdings&nbsp;LLC, an affiliate of Mr.&nbsp;Vincent
Viola, our Founder and Executive Chairman, and certain trusts for the benefit of the Viola family and others will hold all of our issued and outstanding Class&nbsp;D common stock after this offering
and will control more than a majority of the combined voting power of our common stock. As a result, the Viola family will be able to control any action requiring the general approval of our
stockholders, including the election of our board of directors, the adoption of amendments to our certificate of incorporation and by-laws and the approval of any merger or sale of substantially all
of our assets. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
intend to list the Class&nbsp;A common stock on The NASDAQ Stock Market&nbsp;LLC ("NASDAQ") under the symbol "VIRT." </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
will be a "controlled company" under the corporate governance rules for NASDAQ-listed companies, and therefore we will be permitted to, and we intend to, elect not to comply with
certain NASDAQ corporate governance requirements. See "Management&nbsp;&#151; Controlled Company." </FONT></P>

<P style="font-family:arial;">


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT SIZE=2><I>We are an "emerging growth company" under the federal securities laws. Investing in our Class&nbsp;A common stock involves risks. See "Risk Factors" on
page&nbsp;27 to read about factors you should consider before buying shares of our Class&nbsp;A common stock.</I></FONT>

</P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Neither the Securities and Exchange Commission nor any other regulatory body has approved or disapproved of these securities or passed upon the accuracy or
adequacy of this prospectus. Any representation to the contrary is a criminal offense.</B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><I>

<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" >


 </I></FONT><FONT SIZE=2>

<!-- COMMAND=ADDING_LINEBREAK -->

<BR></FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="64pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="81pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD NOWRAP  ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:1%;"><FONT SIZE=2>Per Share<BR>

<!-- COMMAND=ADD_SCROPPEDRULE -->

</FONT>
</DIV></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD NOWRAP  ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:1%;"><FONT SIZE=2>Total<BR>

<!-- COMMAND=ADD_SCROPPEDRULE -->

</FONT>
</DIV></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Initial public offering price</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Underwriting discount</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Proceeds, before expenses, to us(1)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->


<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" >
 </DIV>
<DIV style="padding:0pt;position:relative;text-align:left;margin-left:10%;">
 <DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>See
"Underwriting." </FONT></DD></DL>
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
shares of Class&nbsp;A common stock are being offered through the underwriters on a firm commitment basis, subject to the terms and conditions of an underwriting agreement. To the
extent that the underwriters sell more than&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock, the underwriters have the option to purchase up to an
additional&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares from us at the
initial price to the public less the underwriting discount within 30&nbsp;days from the date of this prospectus. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
underwriters expect to deliver the shares against payment in New York, New York on&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2015.
</FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><I>

<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" >


 </I></FONT><FONT SIZE=2>

<!-- COMMAND=ADDING_LINEBREAK -->

<BR></FONT></P>
 <DIV style="padding:0pt;position:relative;width:90%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<P style="font-family:arial;"><FONT SIZE=4><B>


<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->


  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="31%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="31%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="31%" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=4><B>Goldman,&nbsp;Sachs&nbsp;&amp;&nbsp;Co.</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=4>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=4><B>J.P.&nbsp;Morgan</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=4>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=4><B>Sandler&nbsp;O'Neill&nbsp;+&nbsp;Partners,&nbsp;L.P.</B></FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=4>&nbsp;<BR></FONT></P>
 <DIV style="padding:0pt;position:relative;width:90%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<P style="font-family:arial;"><FONT SIZE=3><B>


<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->



  </B></FONT></P>


<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="21%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="14%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="14%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="14%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="163pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=3><B> BMO&nbsp;Capital&nbsp;Markets</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=3>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=3><B> Citigroup</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=3>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=3><B> Credit&nbsp;Suisse</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=3>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=3><B> Evercore ISI</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=3>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=3><B> UBS&nbsp;Investment&nbsp;Bank</B></FONT></TD>
</TR>
</TABLE></DIV>

<!-- end of user-specified TAGGED TABLE -->
 </DIV>

 <DIV style="padding:0pt;position:relative;width:90%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->



  </B></FONT></P>


<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="31%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="31%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="31%" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><B> Academy Securities</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><B>CIBC</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><B>Rosenblatt Securities</B></FONT></TD>
</TR>
</TABLE></DIV>

<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><I>

<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" >


  </I></FONT><FONT SIZE=2>

<!-- COMMAND=ADDING_LINEBREAK -->

<BR></FONT></P>
 <p style="font-family:arial;line-height:1pt;margin-left:18pt;"><font> </FONT> <FONT SIZE=2>
<!-- BLANK LINE TO FORCE PARA -->
&nbsp;&nbsp;&nbsp;
</font></p><p align=center style="font-family:arial;"><font> </FONT> <FONT SIZE=2>
Prospectus dated&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2015.</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=2,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=633654,FOLIO='blank',FILE='DISK108:[13ZDI1.13ZDI16701]BC16701A.;82',USER='BFLANNO',CD='23-MAR-2015;16:05' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->





<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->




<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B>
<IMG SRC="g526937.jpg" ALT="GRAPHIC" WIDTH="684" HEIGHT="420">
  </B></FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=3,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=211033,FOLIO='blank',FILE='DISK108:[13ZDI1.13ZDI16701]BE16701A.;3',USER='CHE107549',CD='12-MAR-2015;02:01' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_bg16701_1_1"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<A NAME="bg16701_table_of_contents"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="BG16701A_main_toc"></A> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=2><B>We have not, and the underwriters have not, authorized anyone to provide any information or to make any representations other than those
contained in this prospectus or in any free writing prospectuses we have prepared. We and the underwriters take no responsibility for, and can provide no assurance as to the reliability of, any other
information that others may give to you. This prospectus is an offer to sell only the shares offered hereby, and only under circumstances and in jurisdictions where it is lawful to do so. The
information contained in this prospectus is current only as of the date hereof.</B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><I>


<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="19%" ALIGN="CENTER" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="19%" ALIGN="CENTER" >


 </I></FONT><FONT SIZE=2>

<!-- COMMAND=ADDING_LINEBREAK -->

<BR></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> TABLE OF CONTENTS  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>
<A NAME="BG16701_TOC"></A> </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->
<!-- COMMAND=ADD_START_LINKTABLE -->

<!-- User-specified TAGGED TABLE -->

<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="28pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Page </B></FONT></TH>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#ca16701_prospectus_summary"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2> Prospectus Summary</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#ca16701_prospectus_summary"><FONT SIZE=2>1</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#ci16701_risk_factors"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Risk Factors</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#ci16701_risk_factors"><FONT SIZE=2>27</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#co16701_forward-looking_statements"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Forward-Looking Statements</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#co16701_forward-looking_statements"><FONT SIZE=2>53</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#cq16701_organizational_structure"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Organizational Structure</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#cq16701_organizational_structure"><FONT SIZE=2>55</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#cq16701_use_of_proceeds"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Use of Proceeds</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#cq16701_use_of_proceeds"><FONT SIZE=2>64</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#cs16701_dividend_policy"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Dividend Policy</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#cs16701_dividend_policy"><FONT SIZE=2>65</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#cs16701_capitalization"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Capitalization</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#cs16701_capitalization"><FONT SIZE=2>67</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#cu16701_dilution"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Dilution</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#cu16701_dilution"><FONT SIZE=2>68</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#cu16701_unaudited_pro_forma_financial_information"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Unaudited Pro Forma Financial Information</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#cu16701_unaudited_pro_forma_financial_information"><FONT SIZE=2>71</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#de16701_selected_consolidated_financial_data"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Selected Consolidated Financial Data</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#de16701_selected_consolidated_financial_data"><FONT SIZE=2>79</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#dg16701_management_s_discussion_and_an__man03466"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Management's Discussion and Analysis of Financial Condition and Results of
Operations</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#dg16701_management_s_discussion_and_an__man03466"><FONT SIZE=2>80</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#dm16701_business"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Business</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#dm16701_business"><FONT SIZE=2>106</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#dq16701_management"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Management</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#dq16701_management"><FONT SIZE=2>121</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#compensation"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Executive Compensation</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#compensation"><FONT SIZE=2>126</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#du16701_principal_stockholders"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Principal Stockholders</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#du16701_principal_stockholders"><FONT SIZE=2>142</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#dw16701_certain_relationships_and_related_party_transactions"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Certain Relationships and Related Party Transactions</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#dw16701_certain_relationships_and_related_party_transactions"><FONT SIZE=2>145</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#ea16701_description_of_capital_stock"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Description of Capital Stock</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#ea16701_description_of_capital_stock"><FONT SIZE=2>156</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#ec16701_shares_available_for_future_sale"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Shares Available for Future Sale</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#ec16701_shares_available_for_future_sale"><FONT SIZE=2>162</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#ee16701_material_u.s._federal_tax_considerations"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Material U.S. Federal Tax Considerations</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#ee16701_material_u.s._federal_tax_considerations"><FONT SIZE=2>165</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#eg16701_underwriting"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Underwriting</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#eg16701_underwriting"><FONT SIZE=2>170</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#eg16701_legal_matters"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Legal Matters</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#eg16701_legal_matters"><FONT SIZE=2>177</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#eg16701_experts"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Experts</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#eg16701_experts"><FONT SIZE=2>177</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#eg16701_where_you_can_find_more_information"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Where You Can Find More Information</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#eg16701_where_you_can_find_more_information"><FONT SIZE=2>177</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#fa16701_index_to_consolidated_financial_statements"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Index to Consolidated Financial Statements</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#fa16701_index_to_consolidated_financial_statements"><FONT SIZE=2>F-1</FONT></A></TD>
</TR>
</TABLE></DIV>


<!-- end of user-specified TAGGED TABLE -->
<!-- COMMAND=ADD_END_LINKTABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><I>

<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="19%" ALIGN="CENTER" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="19%" ALIGN="CENTER" >


  </I></FONT><FONT SIZE=2>

<!-- COMMAND=ADDING_LINEBREAK -->

<BR></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=2><B>Through and
including&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2015 (the 25th&nbsp;day after the date of this prospectus), all dealers
effecting transactions in these securities, whether or not participating in this offering, may be required to deliver a prospectus. This is in addition to a dealer's obligation to deliver a
prospectus when acting as an underwriter and with respect to an unsold allotment or subscription.</B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="bg16701_industry_and_market_data"> </A>
<BR></FONT><FONT SIZE=2><B>  INDUSTRY AND MARKET DATA    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industry and market data used throughout this prospectus were obtained through company research, surveys and studies conducted by
third parties and industry and general publications. Certain information contained in "Business" is based on studies, analyses and surveys prepared by the Bank for International Settlements,
Bloomberg, BATS Global Markets,&nbsp;Inc., the Futures Industry Association, the Investment Industry Regulatory Organization of Canada and the World Federation of Exchanges. While we are not aware
of any misstatements regarding the industry data presented herein, estimates involve risks and uncertainties and are subject to change based on various factors, including those discussed under the
heading "Risk Factors." </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>i</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=4,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=196196,FOLIO='i',FILE='DISK108:[13ZDI1.13ZDI16701]BG16701A.;44',USER='CHE105483',CD='20-MAR-2015;02:08' -->
<A NAME="page_bg16701_1_2"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="bg16701_trademarks"> </A>
<BR></FONT><FONT SIZE=2><B>  TRADEMARKS    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This prospectus contains references to our trademarks and service marks and to those belonging to other entities. Solely for
convenience, trademarks and trade names referred to in this prospectus may appear without the &reg; or &#153; symbols, but such references are not intended to indicate, in any way, that
we will not assert, to the fullest extent under applicable law, our rights or the rights of the applicable licensor to these trademarks and trade names. We do not intend our use or display of other
companies' trade names, trademarks or service marks to imply a relationship with, or endorsement or sponsorship of us by, any other companies. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>ii</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=5,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=806534,FOLIO='ii',FILE='DISK108:[13ZDI1.13ZDI16701]BG16701A.;44',USER='CHE105483',CD='20-MAR-2015;02:08' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_ca16701_1_1"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="ca16701_prospectus_summary"> </A>
<A NAME="toc_ca16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  PROSPECTUS SUMMARY    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=2><I>This summary highlights selected information about us and this offering but does not contain all of the
information that you should consider before investing in our Class&nbsp;A common stock. Before making an investment decision, you should read this entire prospectus carefully, including the
discussion under the heading "Risk Factors" and the consolidated financial statements and related notes thereto contained elsewhere in this prospectus. This prospectus includes forward
looking-statements that involve risks and uncertainties. See "Forward-Looking Statements" for more information.</I></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Unless we state otherwise or the context otherwise requires, the terms "we," "us," "our," "Virtu" and the "Company" refer to Virtu Financial,&nbsp;Inc., a
Delaware corporation, and its consolidated subsidiaries
after giving effect to the reorganization transactions described under "&nbsp;&#151; Corporate History and Organizational Structure" below. Also, unless we state otherwise or the context
otherwise requires, all information in this prospectus gives effect to the reorganization transactions described below. "Virtu Financial" refers to Virtu Financial&nbsp;LLC, a Delaware limited
liability company and a consolidated subsidiary of ours following the reorganization transactions.</I></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> Overview  </B></FONT></P>

<P style="font-family:arial;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu is a leading technology-enabled market maker and liquidity provider to the global financial markets. We stand ready, at any
time, to buy or sell a broad range of securities and other financial instruments, and we generate revenue by buying and selling securities and other financial instruments and earning small amounts of
money on individual transactions based on the difference between what buyers are willing to pay and what sellers are willing to accept, which we refer to as "bid/ask spreads," across a large volume of
transactions. We make markets by providing quotations to buyers and sellers in more than 11,000 securities and other financial instruments on more than 225 unique exchanges, markets and liquidity
pools in 34 countries around the world. We believe that our broad diversification, in combination with our proprietary technology platform and low-cost structure, enables us to facilitate risk
transfer between global capital markets participants by supplying liquidity and competitive pricing while at the same time earning attractive margins and returns.

 </FONT>

</P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
believe that market makers like us serve an important role in maintaining and improving the overall health and efficiency of the global capital markets by continuously posting bids
and offers for securities and other financial instruments and thereby providing to market participants an efficient means to transfer risk. Market participants benefit from the increased liquidity,
lower overall trading costs and enhanced execution certainty that we provide. While in most cases we do not have customers in a traditional sense, we make markets for global banks, brokers and other
intermediaries, in addition to retail and institutional investors, including corporations, individuals, hedge funds, mutual funds, pension funds and other investors, all of whom can access our
liquidity on exchanges or venues in order to transfer risk in multiple securities and asset classes for their own accounts and/or on behalf of their customers. The following table illustrates our
diversification and scale: </FONT></P>
 <p style="font-family:arial;"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>1</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=6,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=424919,FOLIO='1',FILE='DISK108:[13ZDI1.13ZDI16701]CA16701A.;200',USER='AGAETZ',CD='23-MAR-2015;11:05' -->
<A NAME="page_ca16701_1_2"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">

 <DIV style="padding:0pt;position:relative;width:100%;margin-left:0%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="263pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:69pt;"><FONT SIZE=2><B>Asset Classes

<!-- COMMAND=ADD_SCROPPEDRULE,69pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:214pt;"><FONT SIZE=2><B>Selected Venues in Which We Make Markets

<!-- COMMAND=ADD_SCROPPEDRULE,214pt -->

 </B></FONT></DIV></TH>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>North, Central and South America<BR>
("Americas") Equities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>NYSE, NASDAQ, DirectEdge, NYSE Arca, NYSE MKT, BATS, IEX, TMX, ICE, CME, BM&amp;F Bovespa, major private liquidity pools</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:10pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Europe, Middle East and Africa<BR>
("EMEA") Equities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><p align=left style="font-family:arial;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>LSE, Deutsche Boerse, NASDAQ OMX, NYSE Euronext, Eurex, Chi-X, BME, XETRA, NYSE Liffe, Turquoise, Borsa Italiana, SIX Swiss
Exchange, Johannesburg Stock Exchange</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:10pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Asia and Pacific ("APAC") Equities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><p align=left style="font-family:arial;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>TSE, SGX, OSE, SBI Japannext, TOCOM</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:10pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Global Commodities (including energy,<BR>
metals and other commodities)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><p align=left style="font-family:arial;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>CME, ICE, TOCOM, SGX, NYSE Liffe, EBS</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:10pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Global Currencies (including futures<BR>
contracts in FX)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><p align=left style="font-family:arial;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>CME, ICE, Currenex, EBS, HotSpot, Reuters, FXall, LMAX</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:10pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Options, Fixed Income and<BR>
Other Securities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><p align=left style="font-family:arial;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>CBOE, PHLX, NYSE Arca Options, eSpeed, BOX, BrokerTec</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
refer to our market making activities as being "market neutral," which means that we are not dependent on the direction of any particular market and we do not
speculate. Our market making activities are designed to minimize capital at risk at any given time by limiting the notional size of our positions. Our strategies are also designed to lock in returns
through precise hedging in the primary instrument or in one or more economically equivalent instruments, as we seek to eliminate the price risk in any positions held. See "Business &#151;
Overview" for more information regarding our strategies. Our revenue generation is driven primarily by transaction volume across a broad range of securities and other financial instruments, asset
classes and geographies. We avoid the risk of long or short positions in favor of seeking to earn small bid/ask spreads on large trading volumes across thousands of securities and other financial
instruments. The overall breadth and diversity of our market making activities, together with our real-time risk management strategy and technology, have enabled us to have only one overall losing
trading day during a period of 1,485 trading days. While we seek to eliminate the price risk of long or short positions, a significant
percentage of our trades are not profitable. For example, for the 252&nbsp;trading days of 2014, we averaged approximately 5.3&nbsp;million trades per day globally across all asset classes, and we
profitably exited 49% of our overall positions. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
do not engage in the types of principal investing and predictive, momentum and signal trading in which many other broker-dealers and trading firms engage. In fact, in order to
minimize the likelihood of unintended activities by our market making strategies, if our risk management system detects a trading strategy generating revenues outside of our preset limits, it will
freeze, or "lockdown," that strategy and alert risk management personnel and management. Although this approach may prevent us from maximizing potential returns in times of extreme market volatility,
we believe the reduction in risk is an appropriate trade-off that is in keeping with our aim of generating consistently strong revenue from trading. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For the years ended December&nbsp;31, 2014 and 2013, our total revenues were approximately $723.1&nbsp;million and $664.5&nbsp;million, respectively, our trading income, net, was
approximately $685.2&nbsp;million and $623.7&nbsp;million, respectively, our Adjusted Net Trading Income was approximately $435.0&nbsp;million and $414.5&nbsp;million, respectively, our net
income was approximately $190.1&nbsp;million and $182.2&nbsp;million, respectively, and our Adjusted Net Income was approximately $226.5&nbsp;million and $215.4&nbsp;million, respectively. For
the year ended December&nbsp;31, 2014, we earned approximately 26% of our Adjusted Net Trading Income from Americas equities (of which approximately 20% was attributable to U.S. equities and
approximately 6% was attributable to Canadian and Latin American equities), 12% from EMEA equities, 7% from APAC equities, 21% from global commodities, 25% from global currencies and 10% from options,
fixed income and other securities. For a reconciliation

 </FONT></P>
 <p style="font-family:arial;"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>2</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=7,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=636927,FOLIO='2',FILE='DISK108:[13ZDI1.13ZDI16701]CA16701A.;200',USER='AGAETZ',CD='23-MAR-2015;11:05' -->
<A NAME="page_ca16701_1_3"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">
 <P style="font-family:arial;"><FONT SIZE=2>of
Adjusted Net Trading Income to trading income, net, and Adjusted Net Income to net income, see "&nbsp;&#151; Summary Historical and Pro Forma Consolidated Financial and Other Data." Since
our inception, we have sought to broadly diversify our market making across securities, asset classes and geographies, and as a result, for the year ended December&nbsp;31, 2014, we achieved a
diverse mix of Adjusted Net Trading Income results, with no one geography or asset class constituting more than 26% of our total Adjusted Net Trading Income. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Technology
and operational efficiency are at the core of our business, and our focus on market making technology is a key element of our success. We have developed a proprietary,
multi-asset, multi-currency technology platform that is highly reliable, scalable and modular, and we integrate directly with exchanges and other liquidity centers. Our market data, order routing,
transaction processing, risk management and market surveillance technology modules manage our market making activities in an efficient manner and enable us to scale our market making activities
globally and across additional securities and other financial instruments and asset classes without significant incremental costs or third-party licensing or processing fees. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> Industry and Market Overview  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A "market maker" or "liquidity provider" is commonly defined by stock exchanges, futures exchanges and regulatory authorities around
the world as a person or entity who provides continuous, two-sided quotes at multiple price levels at or near the best bid or offer, taking market risk, through a variety of exchanges and markets,
which are accessible broadly and continuously for immediate execution. Market makers, like us, serve a critical role in the functioning of all financial markets by providing bids and offers for
securities and other financial instruments. Market makers enhance liquidity and execution certainty for all market participants, enabling buyers and sellers to efficiently transfer risk, and are
compensated for this service by earning a small amount of money on the bid/ask spread on individual transactions. A market maker's success depends on it posting competitive prices and accurately and
efficiently responding to relevant market data. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Historically,
market making activities occurred on the physical floor of exchanges, where human traders would execute buy and sell orders for securities. Over the last 20&nbsp;years,
however, the global trading markets have been characterized by the electronification of trading, development of new asset classes, volume growth and improving technology and speed of communication.
The advent of electronic trading venues has changed the traditional trading process for many types of securities in the equity, bond and currency markets. The practice of physical, "open outcry"
trading has largely been replaced by electronic trading platforms. This shift, and the resulting increase in automation and speed and reduction in trading costs, has led to significant growth in
electronic trading volumes, as implied by growth in the aggregate notional value and number of trades on exchanges around the world. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Market
structures have become increasingly complex and diverse. Although in some geographies and asset classes trading continues to occur through a single exchange, many markets for
many asset classes, such as U.S. and European equities, have become increasingly fragmented. While we believe this fragmentation and related competition have been beneficial to all market
participants, leading to more compressed bid/ask spreads and creating deeper liquidity, they have also created greater complexity and have required electronic market makers to expand their
infrastructure to connect with more venues. We believe this trend will enable larger firms with scalable infrastructure, like us, to capture more of these opportunities. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Our Competitive Strengths  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Critical Component of an Efficient Market Eco-System.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;As a leading, low-cost market maker dedicated to providing
improved efficiency and liquidity
across multiple securities, asset </FONT></P>
 <p style="font-family:arial;"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>3</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=8,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=401499,FOLIO='3',FILE='DISK108:[13ZDI1.13ZDI16701]CA16701A.;200',USER='AGAETZ',CD='23-MAR-2015;11:05' -->
<A NAME="page_ca16701_1_4"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">
 <P style="font-family:arial;"><FONT SIZE=2>classes
and geographies, we aim to provide critical market functionality and robust price competition, leading to reduced trading costs and more efficient pricing in the securities and other financial
instruments in which we provide liquidity. This contribution to the financial markets, and the scale and diversity of our market making activities, provides added liquidity and transparency, which we
believe are necessary and valued components to the efficient functioning of market infrastructure and benefit all market participants. We support transparent and efficient, technologically advanced
marketplaces and advocate for legislation and regulation that promotes fair and transparent access to markets. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cutting Edge, Proprietary Technology.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Technology is at the core of our business. Our team of software engineers
develops all of our core software
internally, and we utilize optimized infrastructure to integrate directly with the exchanges and other trading venues on which we provide liquidity. Wherever possible, we lease commercially available
rack space that is co-located with, or
in close proximity to, the exchanges and other venues where we provide liquidity. We do not pay any licensing or per-trade processing fees to any third parties, and the engineering cycles for
enhancements or new technologies are entirely within our control. Our focus on technology and our ability to leverage our technology enables us to be one of the lowest cost providers of liquidity to
the global electronic trading marketplace. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consistent, Diversified and Growing Revenue Base.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;We generate revenues by making markets and earning small bid/ask
spreads in more than 11,000
listed securities and other financial instruments on more than 225 unique exchanges, markets and liquidity pools in 34 countries around the world. The reliability and scalability of our technology
platform also allow us to capitalize on higher transaction volumes during periods of extraordinary market volatility and enable us to diversify our Adjusted Net Trading Income through asset class and
geographic expansion. As a result, during the year ended December&nbsp;31, 2014, no single asset class or geography constituted more than 26% of our total Adjusted Net Trading Income. Our
diversification, together with our revenue generation strategy of earning small bid/ask spreads on large trading volumes across thousands of securities, enables us to deliver consistent Adjusted Net
Trading Income under a wide range of market conditions. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Low Costs and Large Economies of Scale.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Our high degree of automation, together with our ability to reduce external
costs by internalizing certain
trade processing functions, enables us to leverage our low market making costs over large trading volumes. Our market making costs are low due to several factors. As a self-clearing member of the
Depository Trust Company ("DTC"), we avoid paying clearing fees to third parties in our U.S. equities market making business. In addition, because of our significant scale, we are able to obtain
competitive pricing for trade processing functions and other costs that we do not internalize. Our significant volumes generally place us in the lowest cost tiers of brokerage, clearing and exchange
fees for venues that provide tiered pricing structures. Our low-cost structure allows us to maintain a marginal cost per trade that we believe is favorable compared to our competitors. Our scale is
further demonstrated by our headcount&nbsp;&#151; as of December&nbsp;31, 2014, we had only 148&nbsp;employees. Our business efficiency is also reflected in our operating margins and our
Adjusted EBITDA margins. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real-Time Risk Management.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Our trading is designed to be non-directional, non-speculative and market neutral. Our
market making strategies are
designed to put minimal capital at risk at any given time by limiting the notional size of our positions. Our strategies are also designed to lock in returns through precise hedging in the primary
instrument or in one or more economically equivalent instruments, as we seek to eliminate the price risk in any positions held. Our real-time risk management system is built into our trading platform
and is an integral part of our order life-cycle, analyzing real-time pricing data and ensuring that our order activity is conducted within strict pre-determined trading and position limits. If our
risk management system detects that a </FONT></P>
 <p style="font-family:arial;"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>4</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=9,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=872943,FOLIO='4',FILE='DISK108:[13ZDI1.13ZDI16701]CA16701A.;200',USER='AGAETZ',CD='23-MAR-2015;11:05' -->
<A NAME="page_ca16701_1_5"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">
 <P style="font-family:arial;"><FONT SIZE=2>trading
strategy is generating revenues or losses in excess of our preset limits, it will lockdown that strategy and alert management. In addition, our risk management system continuously reconciles
our internal transaction records against the records of the exchanges and other liquidity centers with which we interact. As a result of our successful real-time risk management strategy, we have had
only one losing trading day since January&nbsp;1, 2008. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proven and Talented Management Team.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Our management team, with an average of approximately 20&nbsp;years of industry
experience, is led by
individuals with diverse backgrounds and deep knowledge and experience in the development and application of technology to the electronic trading industry. Mr.&nbsp;Vincent Viola, our Founder and
Executive Chairman, is the former Chairman of the NYMEX and has been a market maker his entire career since leaving active duty in the U.S. Army and joining the NYMEX in 1982. Mr.&nbsp;Viola is
widely recognized as an innovator and pioneer in market making and electronic trading over his 30-plus year career. Our Chief Executive Officer, Mr.&nbsp;Douglas&nbsp;A. Cifu, has been with us
since our founding in 2008 and previously was a Partner with the international law firm of Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison&nbsp;LLP. Our Chief Financial Officer, Joseph Molluso, has
been with us since 2013 and previously was a Managing Director in the Investment Banking division at J.P. Morgan. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Our Key Growth Strategies  </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capitalize on secular growth in electronic trading of global listed securities markets and continue to increase market penetration.</I></B></FONT><FONT
SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;We expect that
global electronic trading volumes will continue to grow, driven by various factors, including technology, globalization, convergence of exchange and non-exchange markets and the evolving regulatory
environment. According to the
World Federation of Exchanges, the number of equity shares traded through an electronic order book grew at a compound annual rate of 15.8% since 2004, from approximately 3.5&nbsp;billion shares in
2004 to approximately 15.1&nbsp;billion shares in 2014. In addition, according to the Futures Industry Association, trading of futures and options on exchanges has grown at a compound annual rate of
10.4% since 2004, from 8.9&nbsp;billion contracts in 2004 to 21.6&nbsp;billion contracts in 2013, and we believe that a significant portion of this growth has come from the electronification of
trading. Our ability to offer competitive bid and offer quotes, facilitated by our proprietary, scalable technology platform and our low-cost structure, has enabled us to grow our business and add
trading volume at little incremental cost. As a result, we expect to be well positioned to capitalize on future growth in the global electronic trading markets, particularly in certain asset classes
in which we have lower Adjusted Net Trading Income or are not yet a participant. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provide increasing liquidity across a wider range of new securities and other financial instruments.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;We believe that
the full implementation of the
European Markets Infrastructure Regulation and the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act") in the U.S. will increase transparency, liquidity and efficiency in
global trading markets and encourage the further development of trading opportunities in certain asset classes in which highly liquid electronic markets remain limited or nonexistent due to historical
reliance on bilateral voice trading and other inefficient processes. The migration of these products to electronic markets will provide us with an opportunity to deploy our market making strategies in
asset classes that are not accessible to us currently including, for example, interest rate swaps, interest rate swap futures, credit default swap ("CDS") index futures and over-the-counter ("OTC")
energy swaps. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grow geographically.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;We trade on over 225 unique exchanges, markets and liquidity pools around the world, located in
34 countries. We look to expand
into new geographies when access is available to us and the applicable regulatory scheme permits us to deploy our strategy. Given the scalability of our platform, we believe we will be able to expand
into new geographies and begin generating revenues quickly with little incremental cost. We intend to continue to expand our market </FONT></P>
 <p style="font-family:arial;"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>5</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=10,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=520143,FOLIO='5',FILE='DISK108:[13ZDI1.13ZDI16701]CA16701A.;200',USER='AGAETZ',CD='23-MAR-2015;11:05' -->
<A NAME="page_ca16701_1_6"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">
 <P style="font-family:arial;"><FONT SIZE=2>making
business into new geographic locations, including locations in the EMEA and APAC markets, where we began making markets in 2008 and 2010, respectively. We entered the Japanese, Australian and
certain other Asian markets beginning in late 2011, and we expect those markets to be growth areas for us. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Leverage our technology to offer additional technology services to market participants.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;We believe that our order
management, market data, order
routing, processing, risk management and market surveillance technology modules offer a key value proposition to market participants and that sharing our technological capabilities with market
participants in a manner that expands electronic trading will create more opportunities for market making as trading volumes increase. For example, we adapted our existing technology to provide a
customized automated trading platform for foreign exchange products to a major financial institution. We believe this platform will increase transparency, liquidity and efficiency for that financial
institution and will provide us with a unique opportunity to provide liquidity and market making services directly to other financial institutions as well. In 2014, we also entered into an order
routing agreement with a registered broker-dealer in order to assist it in its execution of institutional order flow. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expand customized liquidity solutions.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;We also provide liquidity and competitive pricing in foreign currency markets
directly to market participants
on our own trading platform called "VFX" and through other customized liquidity arrangements. We offered more than 75 different pairs of currency products as of December&nbsp;31, 2014. We intend to
offer this same type of customized liquidity in other asset classes globally. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursue strategic partnerships and acquisitions.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;We intend to selectively consider opportunities to grow through
strategic partnerships or
acquisitions that enhance our existing capabilities or enable us to enter new markets or provide new products and services. For example, the Madison Tyler Transactions described below created
economies of scale with substantial synergy opportunities realized to date and allowed us to enhance our international presence. In addition, with our acquisition of the ETF market making assets of
Nyenburgh Holding&nbsp;B.V. ("Nyenburgh") in the third quarter of 2012, we became an OTC market maker in ETFs and from time to time provide two-sided liquidity to a significant number of
counterparties throughout Europe. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Risks Associated with Our Business  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;While we have set forth our competitive strengths and our key growth strategies above, we face numerous risks and uncertainties in
operating our business, which may negatively impact our competitive strengths, prevent us from implementing our key growth strategies or have a material adverse effect on our business, financial
condition or results of operations. Below is a summary of certain risk factors associated with our business that you should consider in evaluating an investment in shares of our Class&nbsp;A common
stock. </FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Because our revenues and profitability depend on trading volume and volatility in the markets in which we operate, they
are subject to factors beyond our control, are prone to significant fluctuations and are difficult to predict. Decreases in market volumes and lower levels of volatility generally result in lower
revenues from our market making activities, which could inhibit our plans to capitalize on growth in electronic trading, to provide liquidity across a wider range of new securities and other financial
instruments and to grow geographically. </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>We are dependent upon our trading counterparties and clearing houses to perform their obligations to us. If our trading
counterparties do not meet their obligations to us, or if any central clearing parties fail to properly manage defaults by market participants, we could suffer a material adverse effect on our
business, financial condition, results of operations and cash flows. </FONT></DD></DL>
</UL>
 <p style="font-family:arial;"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>6</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=11,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=848465,FOLIO='6',FILE='DISK108:[13ZDI1.13ZDI16701]CA16701A.;200',USER='AGAETZ',CD='23-MAR-2015;11:05' -->
<A NAME="page_ca16701_1_7"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>We may incur material trading losses from our market making activities despite our real-time risk management system. </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>We face competition in our market making activities and we may be unable to sustain what we believe are our existing
business advantages or compete with new market participants with greater financial and other resources than us. </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Regulatory and legal uncertainties could harm our business. These uncertainties could increase our costs and inhibit our
plan to provide liquidity in new securities and other financial instruments as new regulations cause migration of certain products to electronic markets. The risk of unfavorable regulatory or legal
changes may be enhanced by recent scrutiny of electronic trading and market structure from regulators, lawmakers and the financial news media. </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>We are subject to risks relating to litigation and potential securities law liability, which could increase our costs and
negate any competitive advantage we have based on our low-cost structure. </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>We depend on our customized technology, and our future results may be negatively impacted if we cannot remain
technologically competitive. </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Our reliance on our computer systems and software could expose us to great financial harm if any of our computer systems
or software were subject to any material disruption or corruption and could compromise any competitive advantage we have based on our proprietary technology. </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>We may experience risks associated with future growth or expansion of our operations or acquisitions or dispositions of
businesses, and we may never realize the anticipated benefits of such activities. Although growing geographically and pursuing strategic partnerships and acquisitions are two of our key growth
strategies, these activities may not be successful and could have a material adverse effect on our business, financial condition, results of operations and cash flows. </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>We are dependent on the continued service of certain key executives, the loss or diminished performance of whom could
negatively impact one of our competitive advantages and could have a material adverse effect on our business. </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Our success depends, in part, on our ability to identify, recruit and retain skilled management and technical personnel.
If we fail to recruit and retain suitable candidates or if our relationship with our employees changes or deteriorates, it could have a material adverse effect on our business. </FONT></DD></DL>
</UL>

<P style="font-family:arial;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The above list is not exhaustive. See "Risk Factors" on page&nbsp;27 for a more thorough discussion of these and other risks and uncertainties we face.

</FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Corporate History and Organizational Structure  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We and our predecessors have been in the electronic trading and market making business for approximately 12&nbsp;years. We currently
conduct our business through Virtu Financial and its subsidiaries. On July&nbsp;8, 2011, we completed our acquisition of Madison Tyler Holdings,&nbsp;LLC ("Madison Tyler Holdings"), which was
co-founded in 2002 by Mr.&nbsp;Vincent Viola, our Founder and Executive Chairman. In connection with the acquisition, Virtu Financial paid approximately $536.5&nbsp;million in cash and issued
interests in Virtu Financial to the members of Madison Tyler Holdings and Virtu Financial Operating&nbsp;LLC ("Virtu East"). We refer to the acquisition of Madison Tyler Holdings and the related
transactions as the "Madison Tyler Transactions." To finance the Madison Tyler Transactions, (i)&nbsp;an affiliate of Silver Lake Partners invested approximately </FONT></P>
 <p style="font-family:arial;"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>7</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=7,SEQ=12,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=623814,FOLIO='7',FILE='DISK108:[13ZDI1.13ZDI16701]CA16701A.;200',USER='AGAETZ',CD='23-MAR-2015;11:05' -->
<A NAME="page_ca16701_1_8"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">
 <P style="font-family:arial;"><FONT SIZE=2>$250.0&nbsp;million
in Virtu Financial, (ii)&nbsp;an affiliate of Mr.&nbsp;Viola invested approximately $19.6&nbsp;million in Virtu Financial and (iii)&nbsp;Virtu Financial borrowed
approximately $304.4&nbsp;million, net of fees and expenses, under a term loan facility, which we refer to (as amended to date) as our "senior secured credit facility." The business that comprises
Virtu Financial today is the result of the Madison Tyler Transactions, which combined Virtu East, our historical business, with Madison Tyler Holdings. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On December&nbsp;31, 2014, through a series of transactions, Temasek Holdings (Private) Limited, whom we refer to as "Temasek," acting through two indirect wholly owned subsidiaries,
acquired (i)&nbsp;direct interests in Virtu Financial from affiliates of Silver Lake Partners, Virtu Financial and a member of management (other than Messrs.&nbsp;Viola and Cifu and their
affiliates) and (ii)&nbsp;indirect interests in Virtu Financial by acquiring an interest in an affiliate of Silver Lake Partners. For more information, see "Organizational
Structure&nbsp;&#151; The Temasek Transaction."


</FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> The Reorganization Transactions  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to the consummation of the reorganization transactions described below and this offering, all of Virtu Financial's outstanding
equity interests, including its Class&nbsp;A-1 interests, Class&nbsp;A-2 capital interests, Class&nbsp;A-2 profits interests and Class&nbsp;B interests, are owned by the following persons,
whom we refer to collectively as the "Virtu Pre-IPO Members":</FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>three affiliates of Mr.&nbsp;Viola, whom we refer to collectively as the "Founder Pre-IPO Members"; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>an affiliate of Silver Lake Partners, whom we refer to as the "Silver Lake Pre-IPO Member"; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>an affiliate of Temasek, whom we refer to as the "Temasek Pre-IPO Member"; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>an affiliate of Silver Lake Partners and Temasek, whom we refer to as the "SLT Pre-IPO Member" and whom we refer to
collectively with the Silver Lake Pre-IPO Member and the Temasek Pre-IPO Member as the "Investor Pre-IPO Members"; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>two entities, both of which are managed by Mr.&nbsp;Viola, whose equityholders include certain members of the management
of Virtu Financial, whom we refer to together as the "Management Vehicles." Certain of the equity interests held by the Management Vehicles are subject to vesting restrictions;
and</FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>certain current and former members of the management of Virtu Financial and Madison Tyler Holdings and their affiliates,
whom we refer to collectively as the "Management Members." Certain of the equity interests held by the Management Members are subject to vesting restrictions. </FONT></DD></DL>
</UL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior
to the completion of this offering, we intend to commence an internal reorganization, which we refer to as the "reorganization transactions." In connection with the reorganization
transactions, the following steps will occur:</FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>we will become the sole managing member of Virtu Financial; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>in a series of transactions, one of the Management Vehicles will liquidate, with its equity interests in Virtu Financial
either being distributed to its members, including certain members of management, or contributed to the other Management Vehicle (which we refer to as "Virtu Employee Holdco"); </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>two of the Founder Pre-IPO Members will liquidate and distribute their equity interests in Virtu Financial to their
equityholders, one of whom is TJMT Holdings&nbsp;LLC, the third Founder Pre-IPO Member; </FONT></DD></DL>
</UL>
 <p style="font-family:arial;"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>8</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=8,SEQ=13,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=978022,FOLIO='8',FILE='DISK108:[13ZDI1.13ZDI16701]CA16701A.;200',USER='AGAETZ',CD='23-MAR-2015;11:05' -->
<A NAME="page_ca16701_1_9"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">
 <UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the SLT Pre-IPO Member will distribute its equity interests in Virtu Financial to its equityholders, which consist of
investment funds and other entities affiliated with Silver Lake Partners and Temasek; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>following a series of transactions, we will acquire equity interests in Virtu Financial as a result of certain mergers
involving wholly owned subsidiaries of ours, an affiliate of Silver Lake Partners and Temasek, and the Temasek Pre-IPO Member (the "Mergers"), and in exchange we will issue to an affiliate of Silver
Lake Partners, whom we refer to as the "Silver Lake Post-IPO Stockholder," and an affiliate of Temasek, whom we refer to as the "Temasek Post-IPO Stockholder" and whom we refer to together with the
Silver Lake Post-IPO Stockholder as the "Investor Post-IPO Stockholders," shares of our Class&nbsp;A common stock and rights to receive payments under a tax receivable agreement described below. The
number of shares of Class&nbsp;A common stock to be issued to the Investor Post-IPO Stockholders will be based on the value of the Virtu Financial equity interests that we acquire, which will be
determined based on a hypothetical liquidation of Virtu Financial and the initial public offering price per share of our Class&nbsp;A common stock in this offering; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>all of the existing equity interests in Virtu Financial will be reclassified into Virtu Financial's non-voting common
interest units, which we refer to as "Virtu Financial Units." The number of Virtu Financial Units to be issued to each member of Virtu Financial will be determined based on a hypothetical liquidation
of Virtu Financial and the initial public offering price per share of our Class&nbsp;A common stock in this offering. The Virtu Financial Units received by Virtu Employee Holdco and the Management
Members will have the same vesting restrictions as the equity interests being reclassified. Vested Virtu Financial Units will be entitled to receive distributions, if any, from Virtu Financial.
Subject to certain exceptions, unvested Virtu Financial Units will not be entitled to receive such distributions (other than tax distributions). If any unvested Virtu Financial Units are forfeited,
they will be cancelled by Virtu Financial for no consideration (and we will cancel the related shares of Class&nbsp;C common stock (described below) for no consideration); </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>we will amend and restate our certificate of incorporation and will be authorized to issue four classes of common stock:
Class&nbsp;A common stock, Class&nbsp;B common stock, Class&nbsp;C common stock and Class&nbsp;D common stock, which we refer to collectively as our "common stock." The Class&nbsp;A common
stock and Class&nbsp;C common stock will each provide holders with one vote on all matters submitted to a vote of stockholders, and the Class&nbsp;B common stock and Class&nbsp;D common stock
will each provide holders with 10 votes on all matters submitted to a vote of stockholders. The holders of Class&nbsp;C common stock and Class&nbsp;D common stock will not have any of the economic
rights (including rights to dividends and distributions upon liquidation) provided to holders of Class&nbsp;A common stock and Class&nbsp;B common stock. These attributes are summarized in the
following table: </FONT></DD></DL>
</UL>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="37pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="107pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:117pt;"><FONT SIZE=2><B>Class of Common Stock

<!-- COMMAND=ADD_SCROPPEDRULE,117pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>Votes </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>Economic Rights </B></FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Class&nbsp;A common stock</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>Yes</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Class&nbsp;B common stock</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>10</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>Yes</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Class&nbsp;C common stock</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>No</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Class&nbsp;D common stock</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>10</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>No</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <UL>
<UL>

<P style="font-family:arial;"><FONT SIZE=2>Shares
of our common stock will generally vote together as a single class on all matters submitted to a vote of our stockholders; </FONT></P>

</UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the remaining members of Virtu Financial after giving effect to the reorganization transactions, other than us, whom we
refer to collectively as the "Virtu Post-IPO Members," will subscribe for and purchase shares of our common stock as follows, in each case at a </FONT></DD></DL>
</UL>
 <p style="font-family:arial;"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>9</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=9,SEQ=14,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=625828,FOLIO='9',FILE='DISK108:[13ZDI1.13ZDI16701]CA16701A.;200',USER='AGAETZ',CD='23-MAR-2015;11:05' -->
<A NAME="page_ca16701_1_10"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">
<UL>
<UL>

<P style="font-family:arial;"><FONT SIZE=2>purchase
price of $0.00001 per share and in an amount equal to the number of Virtu Financial Units held by each such Virtu Post-IPO Member: </FONT></P>

<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>TJMT Holdings&nbsp;LLC, whom we refer to as the "Founder Post-IPO Member," will purchase&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our
Class D common stock; and </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>affiliates of Silver Lake Partners, whom we refer to as the "Silver Lake Post-IPO Members," Virtu Employee Holdco, the
Management Members and the other Virtu Post-IPO Members will purchase&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our Class&nbsp;C common stock; and</FONT><FONT SIZE=2>
<BR><BR></FONT></DD></DL>
</UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the Founder Post-IPO Member will be granted the right to exchange its Virtu Financial Units, together with a corresponding
number of shares of our Class&nbsp;D common stock, for shares of our Class&nbsp;B common stock, and the other Virtu Post-IPO Members will be granted the right to exchange their Virtu Financial
Units, together with a corresponding number of shares of our Class&nbsp;C common stock, for shares of our Class&nbsp;A common stock. Each share of our Class&nbsp;B common stock and
Class&nbsp;D common stock is convertible at any time, at the option of the holder, into one share of Class&nbsp;A common stock or Class&nbsp;C common stock, respectively. </FONT></DD></DL>
</UL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See
"Organizational Structure" for further details. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After
the completion of this offering, based on an assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated public offering price range set
forth on the cover page of this prospectus), we intend to use the net proceeds from this offering as follows:</FONT></P>


<UL>
<DL compact>

<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>we intend to contribute $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million of the net proceeds from this offering to Virtu Financial (or
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million if the underwriters exercise their option to purchase additional shares in full) in exchange for a number of Virtu Financial Units equal to the contribution amount
divided by the price paid by the underwriters for shares of our Class&nbsp;A common stock in this offering, and such contribution amount will be used by Virtu Financial for working capital and
general corporate purposes, which may include financing growth; and </FONT><FONT SIZE=2>


<BR><BR></FONT></DD>

<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>we intend to use the remaining approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million of the net proceeds from this offering
(or
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million if the underwriters exercise their option to purchase additional shares in full) to
repurchase&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock from the
Silver Lake Post-IPO Stockholder and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu Financial Units and corresponding shares of Class&nbsp;C common stock or Class D common stock from certain of the Virtu
Post-IPO
Members, including the Silver Lake Post-IPO Members, certain members of management and, if the underwriters exercise their option to purchase additional shares, the Founder Post-IPO Member, in each
case at a net price equal to the price paid by the underwriters for shares of our Class&nbsp;A common stock in this offering. Other than in connection with the exercise of the underwriters' option
to purchase additional shares, none of the Founder Pre-IPO Members, the Founder Post-IPO Member, Mr.&nbsp;Viola or any of his family members intends to sell any equity interests in the Company in
connection with the reorganization transactions or this offering. </FONT></DD></DL>
</UL>

<P style="font-family:arial;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We estimate that the offering expenses (other than the underwriting discounts) will be approximately
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million. All of such offering expenses will be paid for or
otherwise borne by Virtu Financial.

 </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See
"Use of Proceeds" and "Certain Relationships and Related Party Transactions &#151; Purchases from Equityholders" for further details. </FONT></P>
 <p style="font-family:arial;"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>10</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=10,SEQ=15,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=759050,FOLIO='10',FILE='DISK108:[13ZDI1.13ZDI16701]CA16701A.;200',USER='AGAETZ',CD='23-MAR-2015;11:05' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_cc16701_1_11"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->





<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->




<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT> <FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">
 <P style="font-family:arial;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following diagram depicts our organizational structure following the reorganization transactions, this offering and the application of the net proceeds from
this offering, including all of the transactions described above (assuming an initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated public offering price range set
forth on the cover page of this prospectus) and no exercise of the underwriters' option to purchase additional shares). This chart is provided for illustrative purposes only and does not purport to
represent all legal entities within our organizational structure:


</FONT>

</P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B>
<IMG SRC="g75877.jpg" ALT="GRAPHIC" WIDTH="618" HEIGHT="535">
  </B></FONT></P>

<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" >


<DL compact>
<DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">Includes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;unvested
Virtu Financial Units and corresponding shares of Class&nbsp;C common stock. </FONT></DD></DL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the reorganization transactions, we will be appointed as the sole managing member of Virtu Financial pursuant to Virtu
Financial's limited liability company agreement. Because we will manage and operate the business and control the strategic decisions and day-to-day operations of Virtu Financial and will also have a
substantial financial interest in Virtu Financial, we will consolidate the financial results of Virtu Financial, and a portion of our net income (loss) will be allocated to the non-controlling
interest to reflect the entitlement of the Virtu Post-IPO Members to a portion of Virtu Financial's net income (loss). In addition, because Virtu Financial will be under the common control of
Mr.&nbsp;Viola and his affiliates before and after the reorganization transactions, we will account for the reorganization transactions as a reorganization of entities under common control and will
initially measure the interests of the Virtu Pre-IPO Members in the assets and </FONT></P>
 <p style="font-family:arial;"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>11</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=16,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=945081,FOLIO='11',FILE='DISK108:[13ZDI1.13ZDI16701]CC16701A.;81',USER='WWASSER',CD='20-MAR-2015;16:20' -->
<A NAME="page_cc16701_1_12"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">
 <P style="font-family:arial;"><FONT SIZE=2>liabilities
of Virtu Financial at their carrying amounts as of the date of the completion of this reorganization transactions. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the completion of this offering and the application of the net proceeds from this offering, based on an assumed initial public offering price of
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the
midpoint of the estimated public offering price range set forth on the cover page of this prospectus) and assuming no exercise of the underwriters' option to purchase additional shares, we will hold
approximately&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the outstanding Virtu Financial Units, the Virtu Post-IPO Members will hold approximately&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the outstanding Virtu Financial Units and
approximately
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the combined voting power of our
outstanding common stock, the Investor Post-IPO Stockholders will hold approximately&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the combined voting power of our common stock and the investors in this offering will hold
approximately&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the combined voting power of our common stock. See "Organizational Structure," "Certain Relationships and Related Party Transactions" and "Description of Capital
Stock" for more information on the rights associated with our capital stock and the Virtu Financial Units.

 </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
connection with the reorganization transactions, we will acquire existing equity interests in Virtu Financial from an affiliate of Silver Lake Partners and Temasek, and the Temasek
Pre-IPO Member in the Mergers described under "Organizational Structure&nbsp;&#151; The Reorganization Transactions." In addition, as described above, we intend to use a portion of the net
proceeds from this offering to purchase Virtu Financial Units (and corresponding shares of Class&nbsp;C common stock or Class D common stock) from certain Virtu Post-IPO Members, including the
Silver Lake Post-IPO Members, certain members of management and, if the underwriters exercise their option to purchase additional shares, the Founder Post-IPO Member. These acquisitions of interests
in Virtu Financial will result in tax basis adjustments to the assets of Virtu Financial that will be allocated to us and our subsidiaries. In addition, future exchanges by the Virtu Post-IPO Members
of Virtu Financial Units and corresponding shares of Class&nbsp;C common stock or Class&nbsp;D common stock, as the case may be, for shares of our Class&nbsp;A common stock or Class&nbsp;B
common stock, respectively, are expected to produce favorable tax attributes. These tax attributes would not be available to us in the absence of those transactions. In connection with the
reorganization transactions, we will enter into tax receivable agreements that will obligate us to make payments to the Virtu Post-IPO Members and the Investor Post-IPO Stockholders generally equal to
85% of the applicable cash savings that we actually realize as a result of these tax attributes and tax attributes resulting from payments made under the tax receivable agreement. We will retain the
benefit of the remaining 15% of these tax savings. See "Organizational Structure&nbsp;&#151; Holding Company Structure and Tax Receivable Agreements" and "Certain Relationships and Related
Party Transactions&nbsp;&#151; Tax Receivable Agreements." </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> New Revolving Credit Facility  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have obtained commitments from a syndicate of lenders, subject to customary conditions in addition to the consummation of this
offering, to provide us with a new revolving credit facility in the amount of $100&nbsp;million for general corporate purposes. This new revolving credit facility, which we refer to as the "new
revolving credit facility," will be implemented pursuant to an amendment to our senior secured credit facility, will be secured on a pari passu basis with the existing term loan under our senior
secured credit facility and will be subject to the same financial covenants and negative covenants. Although we have obtained commitments for the new revolving credit facility, the commitments are
subject to conditions and there can be no assurance that we will successfully enter into the new revolving credit facility. See "Management's Discussion and Analysis of Financial Condition and Results
of Operations&nbsp;&#151;&nbsp;Liquidity and Capital Resources&nbsp;&#151; Credit Facilities." </FONT></P>
 <p style="font-family:arial;"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>12</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=17,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=341118,FOLIO='12',FILE='DISK108:[13ZDI1.13ZDI16701]CC16701A.;81',USER='WWASSER',CD='20-MAR-2015;16:20' -->
<A NAME="page_cc16701_1_13"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">
 <P style="font-family:arial;"><FONT SIZE=2><B> Our Principal Equityholders  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Following the reorganization transactions and this offering, the Founder Post-IPO Member will control approximately&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of
the combined voting power of our outstanding common stock (or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% if the underwriters exercise their option to purchase additional shares in full) based on an assumed initial public
offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated public offering price range set forth on the cover page of this prospectus). As a result, the Founder Post-IPO Member will
control any action requiring the general approval of our stockholders, including the election of our board of directors, the adoption of amendments to our certificate of incorporation and by-laws and
the approval of any merger or sale of substantially all of our assets. Because the Founder Post-IPO Member will hold more than 50% of the combined voting power of our outstanding common stock, we will
be a "controlled company" under the corporate governance rules for NASDAQ-listed companies. Therefore we will be permitted to, and we intend to, elect not to comply with certain NASDAQ corporate
governance requirements. See "Management&nbsp;&#151; Controlled Company." </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, we will enter into a stockholders agreement that will provide affiliates of Silver Lake Partners with the right to nominate one Class&nbsp;III director for election to
our board of directors so long as affiliates of Silver Lake Partners continue to own at least 30% of the Class&nbsp;A common stock held by affiliates of Silver Lake Partners immediately prior to
this offering (calculated assuming that all of their Virtu Financial Units and corresponding shares of Class&nbsp;C common stock are exchanged for Class&nbsp;A common stock). Mr.&nbsp;Viola and
the Founder Post-IPO Member will agree to take all necessary action, including voting their respective shares of common stock, to cause the election of the nominee. See "Principal Stockholders" and
"Certain Relationships and Related Party Transactions&nbsp;&#151; Stockholders Agreement" for additional information. We refer to affiliates of Silver Lake Partners that own equity interests
in our Company from time to time as the "Silver Lake Equityholders." </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Founder Post-IPO Member is controlled by family members of Mr.&nbsp;Viola, our Founder and Executive Chairman. Mr.&nbsp;Viola has successfully led our Company since our
inception and is one of
the nation's foremost leaders in electronic trading. He was the founder of Virtu East in 2008, a founder of Madison Tyler Holdings in 2002 and the former Chairman of the New York Mercantile Exchange
("NYMEX"). None of the Founder Pre-IPO Members, the Founder Post-IPO Member, Mr.&nbsp;Viola or any of his family members intends to sell any equity interests in the Company in connection with the
reorganization transactions or this offering unless the underwriters exercise their option to purchase additional shares. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Silver
Lake is a global investment firm focused on the technology, technology-enabled and related growth industries with offices in Menlo Park, New York, London, Hong Kong, Shanghai and
Tokyo. Silver Lake was founded in 1999 and has over $23&nbsp;billion in combined assets under management and committed capital across its large-cap private equity, middle-market private equity,
growth equity and credit investment strategies. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incorporated
in 1974, Temasek is an investment company based in Singapore, with a S$223&nbsp;billion (US$177&nbsp;billion) portfolio as of March&nbsp;31, 2014. Temasek's portfolio
encompasses companies across a broad spectrum of sectors, financial services; transportation, logistics and industrials; telecommunications, media and technology; life sciences, consumer and real
estate; and energy and resources. In addition to Singapore, Temasek has offices in 10&nbsp;other cities around the world, including Beijing, Shanghai, Mumbai, S&atilde;o Paulo, Mexico City,
London and New York. We refer to Temasek entities that own equity interests in our Company prior to this offering, namely Wilbur Investments&nbsp;LLC and Havelock Investments Pte Ltd., as the
"Temasek Equityholders." </FONT></P>
 <p style="font-family:arial;"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>13</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=18,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=273909,FOLIO='13',FILE='DISK108:[13ZDI1.13ZDI16701]CC16701A.;81',USER='WWASSER',CD='20-MAR-2015;16:20' -->
<A NAME="page_cc16701_1_14"> </A>


<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">
 <P style="font-family:arial;"><FONT SIZE=2><B> Corporate Information  </B></FONT></P>

<P style="font-family:arial;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We were formed as a Delaware corporation on October&nbsp;16, 2013. We are a newly formed corporation, have no material assets and
have not engaged in any business or other activities except in connection with the reorganization transactions described under
"Organizational Structure." Our corporate headquarters are located at 900 Third Avenue, New York, New York 10022, and our telephone number is (212)&nbsp;418-0100. Our website address is </FONT> <FONT SIZE=2><I>www.virtu.com</I></FONT><FONT SIZE=2>.
Information contained on our website does not constitute a part of this prospectus.


 </FONT>

</P>
 <p style="font-family:arial;"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>14</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=19,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=532142,FOLIO='14',FILE='DISK108:[13ZDI1.13ZDI16701]CC16701A.;81',USER='WWASSER',CD='20-MAR-2015;16:20' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_ce16701_1_15"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="ce16701_the_offering"> </A>
<A NAME="toc_ce16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  The Offering    <BR>    </B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:100%;margin-left:0%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->


<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="218pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2> Class&nbsp;A common stock outstanding before this offering</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><BR><FONT SIZE=2>Class&nbsp;A common stock offered by us</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><BR><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><BR><FONT SIZE=2>Option to purchase additional shares</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><BR><FONT SIZE=2>We have granted the underwriters the right to purchase an
additional&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock from us within 30&nbsp;days from the date of this
prospectus.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><BR><FONT SIZE=2>Class&nbsp;A common stock to be outstanding immediately after this offering</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><BR><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares
(&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of which would be owned by non-affiliates of the Company)
(or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares (&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of which would be owned by
non-affiliates of the Company) if the underwriters exercise their option to purchase additional shares in full) based on an assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the
midpoint of the estimated public offering price range set forth on the cover page of this prospectus). If, immediately after this offering and the application of the net proceeds from this offering, all of the Virtu Post-IPO Members elected to
exchange their Virtu Financial Units and corresponding shares of Class&nbsp;C common stock or Class&nbsp;D common stock, as applicable, for shares of our Class&nbsp;A common stock or Class&nbsp;B common stock, as applicable, and any such shares of
our Class&nbsp;B common stock were then converted into shares of Class&nbsp;A common stock,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our Class&nbsp;A
common stock would be outstanding (&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of which would be owned by non-affiliates of the Company)
(or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares (&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of which would be owned by
non-affiliates of the Company) if the underwriters exercise their option to purchase additional shares in full).</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:arial;"><BR><FONT SIZE=2>Class&nbsp;B common stock to be outstanding immediately after this offering</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>None.</FONT></TD>
</TR>
</TABLE></DIV>

<!-- end of user-specified TAGGED TABLE -->
 </DIV>
<p style="font-family:arial;"><font  style="font-size:8pt;line-height:9pt;"></FONT><FONT SIZE=2>
</font></p><p style="font-family:arial;"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>15</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=20,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=979576,FOLIO='15',FILE='DISK108:[13ZDI1.13ZDI16701]CE16701A.;88',USER='NLUCCA',CD='23-MAR-2015;13:06' -->
<A NAME="page_ce16701_1_16"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">

 <DIV style="padding:0pt;position:relative;width:100%;margin-left:0%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->


<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="218pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2> Class&nbsp;C common stock to be outstanding immediately after this offering</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares
(or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares if the underwriters exercise their option to purchase additional shares in full and giving effect to the use
of the net proceeds therefrom) based on an assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated public offering price range set forth on the cover page of
this prospectus). Shares of our Class&nbsp;C common stock have voting but no economic rights (including rights to dividends and distributions upon liquidation) and will be issued in an amount equal to the number of Virtu Financial Units held by the
Virtu Post-IPO Members other than the Founder Post-IPO Member. When a Virtu Financial Unit, together with a share of our Class&nbsp;C common stock, is exchanged for a share of our Class&nbsp;A common stock, the corresponding share of our Class&nbsp;C
common stock will be cancelled.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><BR><FONT SIZE=2>Class&nbsp;D common stock to be outstanding immediately after this offering</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><BR><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares
(or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares if the underwriters exercise their option to purchase additional shares in full and giving effect to the use of the net proceeds therefrom) based on an assumed
initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated public offering price range set forth on the cover page of this prospectus). Shares of our Class&nbsp;D
common stock have voting but no economic rights (including rights to dividends and distributions upon liquidation) and will be issued in an amount equal to the number of Virtu Financial Units held by the Founder Post-IPO Member. When a Virtu
Financial Unit, together with a share of our Class&nbsp;D common stock, is exchanged for a share of our Class&nbsp;B common stock, the corresponding share of our Class&nbsp;D common stock will be cancelled.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><BR><FONT SIZE=2>Voting rights</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><BR><FONT SIZE=2>Each share of our Class&nbsp;A common stock entitles its holder to one vote per share, representing an aggregate of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the combined voting power
of our issued and outstanding common stock upon the completion of this offering and the application of the net proceeds from this offering (or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% if the underwriters exercise their option to
purchase additional shares in full).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><BR><FONT SIZE=2>Each share of our Class&nbsp;B common stock entitles its holder to 10 votes per share. Because no shares of Class&nbsp;B common stock will be issued and outstanding upon the completion of this offering
and the application of the net proceeds from this offering, our Class&nbsp;B common stock will initially represent none of the combined voting power of our issued and outstanding common stock.</FONT></TD>
</TR>
</TABLE></DIV>

<!-- end of user-specified TAGGED TABLE -->
 </DIV>
<p style="font-family:arial;"><font  style="font-size:8pt;line-height:9pt;"></FONT><FONT SIZE=2>
</font></p><p style="font-family:arial;"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>16</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=21,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=859972,FOLIO='16',FILE='DISK108:[13ZDI1.13ZDI16701]CE16701A.;88',USER='NLUCCA',CD='23-MAR-2015;13:06' -->
<A NAME="page_ce16701_1_17"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">

 <DIV style="padding:0pt;position:relative;width:100%;margin-left:0%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->


<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="218pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>Each share of our Class&nbsp;C common stock entitles its holder to one vote per share, representing an aggregate of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the combined voting power of
our issued and outstanding common stock upon the completion of this offering and the application of the net proceeds from this offering (or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% if the underwriters exercise their option to purchase
additional shares in full and giving effect to the use of the net proceeds therefrom).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><BR><FONT SIZE=2>Each share of our Class&nbsp;D common stock entitles its holder to 10 votes per share, representing an aggregate of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the combined voting power
of our issued and outstanding common stock upon the completion of this offering and the application of the net proceeds from this offering (or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% if the underwriters exercise their option to
purchase additional shares in full and giving effect to the use of the net proceeds therefrom).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><BR><FONT SIZE=2>All classes of our common stock generally vote together as a single class on all matters submitted to a vote of our stockholders. Upon the completion of this offering, our Class&nbsp;D common stock
will be held exclusively by the Founder Post-IPO Member and our Class&nbsp;C common stock will be held by the Virtu Post-IPO Members other than the Founder Post-IPO Member. See "Description of Capital Stock."</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><BR><FONT SIZE=2>Exchange/conversion</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><BR><FONT SIZE=2>Virtu Financial Units held by the Founder Post-IPO Member, together with a corresponding number of shares of our Class&nbsp;D common stock, may be exchanged for shares of our Class&nbsp;B common stock
on a one-for-one basis.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><BR><FONT SIZE=2>Virtu Financial Units held by the Virtu Post-IPO Members other than the Founder Post-IPO Member, together with a corresponding number of shares of our Class&nbsp;C common stock, may be exchanged for
shares of our Class&nbsp;A common stock on a one-for-one basis.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><BR><FONT SIZE=2>Each share of our Class&nbsp;B common stock and Class&nbsp;D common stock is convertible at any time, at the option of the holder, into one share of Class&nbsp;A common stock or Class&nbsp;C common
stock, respectively.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><BR><FONT SIZE=2>Each share of our Class&nbsp;B common stock will automatically convert into one share of Class&nbsp;A common stock and each share of our Class&nbsp;D common stock will automatically convert into one
share of our Class&nbsp;C common stock (a)&nbsp;immediately prior to any sale or other transfer of such share by a Founder Post-IPO Member or any of its affiliates or permitted transferees, subject to certain limited exceptions, such as transfers to
permitted transferees, or (b)&nbsp;if the Founder Post-IPO Member or any of its affiliates or permitted transferees own less than 25% of our issued and outstanding common stock. See "Description of Capital Stock."</FONT></TD>
</TR>
</TABLE></DIV>

<!-- end of user-specified TAGGED TABLE -->
 </DIV>
<p style="font-family:arial;"><font  style="font-size:8pt;line-height:9pt;"></FONT><FONT SIZE=2>
</font></p><p style="font-family:arial;"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>17</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=22,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=349229,FOLIO='17',FILE='DISK108:[13ZDI1.13ZDI16701]CE16701A.;88',USER='NLUCCA',CD='23-MAR-2015;13:06' -->
<A NAME="page_ce16701_1_18"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">

 <DIV style="padding:0pt;position:relative;width:100%;margin-left:0%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->


<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="218pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2> Use of proceeds</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>We estimate that our net proceeds from this offering will be approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million (or approximately
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million if the underwriters exercise their option to purchase additional shares in full), after deducting underwriting discounts and commissions of approximately
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million, based on an assumed initial offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated public
offering price range set forth on the cover page of this prospectus). We intend to use the net proceeds from this offering as follows:</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:11pt;margin-left:0pt;"><FONT SIZE=2> </FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><p align=left style="font-family:arial;margin-top:11pt;margin-bottom:-12pt;margin-left:0pt;"><FONT SIZE=2> </font> &#149; </font></p> <p align=left style="font-family:arial;margin-top:0pt;margin-left:10pt;"> <font size=2> </FONT><FONT SIZE=2>we intend to
contribute $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million of the net proceeds from this offering to Virtu Financial (or $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million if the
underwriters exercise their option to purchase additional shares in full) in exchange for a number of Virtu Financial Units equal to the contribution amount divided by the price paid by the underwriters for shares of our Class&nbsp;A common stock in
this offering, and such contribution amount will be used by Virtu Financial for working capital and general corporate purposes, which may include financing growth; and</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:11pt;margin-left:0pt;"><FONT SIZE=2> </FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><p align=left style="font-family:arial;margin-top:11pt;margin-bottom:-12pt;margin-left:0pt;"><FONT SIZE=2> </font> &#149; </font></p> <p align=left style="font-family:arial;margin-top:0pt;margin-left:10pt;"> <font size=2> </FONT><FONT SIZE=2>we intend to
use the remaining approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million of the net proceeds from this offering (or $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million if the
underwriters exercise their option to purchase additional shares in full) to repurchase&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A
common stock from the Silver Lake Post-IPO Stockholder and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu Financial Units (and corresponding shares of
Class&nbsp;C common stock or Class&nbsp;D common stock) from certain of the Virtu Post-IPO Members, including the Silver Lake Post-IPO Members, certain members of management and, if the underwriters exercise their option to purchase additional shares,
 the Founder Post-IPO Member, in each case at a net price equal to the price paid by the underwriters for shares of our Class&nbsp;A common stock in this offering. Other than in connection with the exercise of the underwriters' option to purchase
additional shares, none of the Founder Pre-IPO Members, the Founder Post-IPO Member, Mr.&nbsp;Viola or any of his family members intends to sell any equity interests in the Company in connection with the reorganization transactions or this
offering.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><BR><FONT SIZE=2>Virtu Financial will contribute such net proceeds to its subsidiaries. We have broad discretion as to the application of such net proceeds to be used for working capital and general corporate purposes.
We may use such net proceeds to finance growth through the acquisition of, or investment in, businesses, products, services or technologies that are complementary to our current business, through mergers, acquisitions or other strategic
transactions.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><BR><FONT SIZE=2>We estimate that the offering expenses (other than the underwriting discounts) will be approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million. All of
such offering expenses will be paid for or otherwise borne by Virtu Financial.</FONT></TD>
</TR>
</TABLE></DIV>

<!-- end of user-specified TAGGED TABLE -->
 </DIV>
<p style="font-family:arial;"><font  style="font-size:8pt;line-height:9pt;"></FONT><FONT SIZE=2>
</font></p><p style="font-family:arial;"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>18</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=23,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=625031,FOLIO='18',FILE='DISK108:[13ZDI1.13ZDI16701]CE16701A.;88',USER='NLUCCA',CD='23-MAR-2015;13:06' -->
<A NAME="page_ce16701_1_19"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">

 <DIV style="padding:0pt;position:relative;width:100%;margin-left:0%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->


<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="218pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>See "Use of Proceeds" and "Certain Relationships and Related Party Transactions &#151; Purchases from Equityholders" for further details.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><BR><FONT SIZE=2>Dividend policy</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><BR><FONT SIZE=2>Commencing with the fiscal quarter ending&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2015, we intend to pay a quarterly dividend of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share to holders of our Class&nbsp;A common stock. Subject to the sole discretion of our board of directors and the considerations discussed
below, we intend to pay dividends that will annually equal, in the aggregate, between 70% and 100% of our net income. The payment of dividends will be subject to general economic and business conditions, including our financial condition and results
of operations, capital requirements, contractual restrictions, including restrictions contained in the credit agreement governing our senior secured credit facility, which we refer to as our "credit agreement," business prospects and other factors
that our board of directors considers relevant.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><BR><FONT SIZE=2>Because we will be a holding company and our principal asset after the consummation of this offering will be our direct and indirect equity interests in Virtu Financial, we will fund dividends by
causing Virtu Financial to make distributions to its equityholders, including the Founder Post-IPO Member, the Silver Lake Post-IPO Members, Virtu Employee Holdco, the Management Members and us.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>Following the consummation of this offering, before any other distributions are made to us and the Virtu Post-IPO Members by Virtu Financial, Virtu Financial will distribute to certain Virtu Pre-IPO
Members as of a record date prior to the commencement of the reorganization transactions, pro rata in accordance with their respective interests in classes of equity entitled to participate in operating cash flow (as defined under "Dividend Policy")
distributions, operating cash flow of Virtu Financial and its subsidiaries for the fiscal period beginning on January&nbsp;1, 2015 and ending on the date of the consummation of the reorganization transactions, less any reserves established during
this period and less any operating cash flow for this period previously distributed to such Virtu Pre-IPO Members. We expect this distribution will be funded from cash on hand.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><BR><FONT SIZE=2>See "Dividend Policy."</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><BR><FONT SIZE=2>Proposed NASDAQ symbol</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><BR><FONT SIZE=2>"VIRT."</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><BR><FONT SIZE=2>Risk factors</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><BR><FONT SIZE=2>You should read the "Risk Factors" section of this prospectus for a discussion of factors that you should consider carefully before deciding to invest in shares of our Class&nbsp;A common
stock.</FONT></TD>
</TR>
</TABLE></DIV>

<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
we indicate otherwise throughout this prospectus, the number of shares of our Class&nbsp;A common stock and Class&nbsp;B common stock outstanding after this
offering excludes:</FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>shares issuable pursuant to stock options and restricted stock units with respect to an aggregate amount of
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock that we expect to issue in connection with this offering under the Virtu
Financial, Inc. 2015 Management Incentive Plan (the "2015
Management Incentive Plan"). See "Executive Compensation&nbsp;&#151; IPO Equity Grants"; </FONT></DD></DL>
</UL>
 <p style="font-family:arial;"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>19</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=24,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=229612,FOLIO='19',FILE='DISK108:[13ZDI1.13ZDI16701]CE16701A.;88',USER='NLUCCA',CD='23-MAR-2015;13:06' -->
<A NAME="page_ce16701_1_20"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">
 <UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>additional shares issuable pursuant to stock options, restricted stock units or other equity-based awards with respect to
an aggregate amount of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock, that we expect to remain available for issuance under the
2015 Management Incentive Plan following the completion of this
offering. See "Executive Compensation&nbsp;&#151; 2015 Management Incentive Plan"; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>shares of Class&nbsp;A common stock reserved for issuance upon the exchange of Virtu Financial Units (together with the
corresponding shares of our Class&nbsp;C common stock), and shares of Class&nbsp;B common stock reserved for issuance upon the exchange of Virtu Financial Units (together with the corresponding
shares of our Class&nbsp;D common stock); and </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>shares of our Class&nbsp;A common stock reserved for issuance upon the conversion of our Class&nbsp;B common stock
into Class&nbsp;A common stock. </FONT></DD></DL>
</UL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
we indicate otherwise, all information in this prospectus assumes (i)&nbsp;that the underwriters do not exercise their option to purchase up
to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;additional
shares from us and (ii)&nbsp;an initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated public offering price range set forth on the cover page of this
prospectus). </FONT></P>
 <p style="font-family:arial;"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>20</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=25,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=56936,FOLIO='20',FILE='DISK108:[13ZDI1.13ZDI16701]CE16701A.;88',USER='NLUCCA',CD='23-MAR-2015;13:06' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_cg16701_1_21"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="cg16701_summary_historical_and_pro_for__sum02807"> </A>
<A NAME="toc_cg16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  Summary Historical and Pro Forma Consolidated Financial and Other Data    <BR>    </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following tables set forth summary historical consolidated financial and other data of Virtu Financial for the periods presented.
We were formed as a Delaware corporation on October&nbsp;16, 2013 and have not, to date, conducted any activities other than those incident to our formation and the preparation of this prospectus
and the registration statement of which this prospectus forms&nbsp;a part. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
consolidated statements of comprehensive income data for the years ended December&nbsp;31, 2014, 2013 and 2012 and statements of financial condition data as of December&nbsp;31,
2014 and&nbsp;2013
have been derived from Virtu Financial's audited financial statements included elsewhere in this prospectus. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
pro forma consolidated statements of comprehensive income for the year ended December&nbsp;31, 2014 give effect to (i)&nbsp;the reorganization transactions described under
"Organizational Structure" and (ii)&nbsp;the creation or acquisition of certain tax assets in connection with this offering and the reorganization transactions and the creation of related
liabilities in connection with entering into the tax receivable agreements with the Virtu Post-IPO Members and the Investor Post-IPO Stockholders, as if each had occurred on January&nbsp;1, 2014.
The pro forma consolidated statement of financial condition data as of December&nbsp;31, 2014 give effect to (i)&nbsp;the reorganization transactions described under "Organizational Structure,"
(ii)&nbsp;the creation or acquisition of certain tax assets in connection with this offering and the reorganization transactions and the creation of related liabilities in connection with entering
into the tax receivable agreements with the Virtu Post-IPO Members and the Investor Post-IPO Stockholders, (iii)&nbsp;this offering and the application of the net proceeds from this offering and
(iv)&nbsp;cash distributions by Virtu Financial to the Virtu Pre-IPO Members in an aggregate amount of $50.0 million in January 2015, $20.0&nbsp;million in February&nbsp;2015 and
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million in March 2015 and anticipated cash distributions by Virtu Financial to the Virtu Pre-IPO Members in an aggregate amount of
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million, following
the consummation of this offering, as if each had occurred on December&nbsp;31, 2014. We expect that the anticipated cash distributions to the pre-IPO equityholders following the consummation of
this offering will be funded from cash on hand. See "Unaudited Pro Forma Financial Information." </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
summary historical and pro forma consolidated financial and other data presented below do not purport to be indicative of the results that can be expected for any future period and
should be read together with "Capitalization," "Unaudited Pro Forma Financial Information," "Selected Consolidated Financial Data," "Management's Discussion and Analysis of Financial Condition and </FONT></P>
 <p style="font-family:arial;"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>21</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=26,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=295198,FOLIO='21',FILE='DISK108:[13ZDI1.13ZDI16701]CG16701A.;174',USER='AGAETZ',CD='23-MAR-2015;11:05' -->
<A NAME="page_cg16701_1_22"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">


<P style="font-family:arial;"><FONT SIZE=2>Results
of Operations" and our and Virtu Financial's audited consolidated financial statements and related notes thereto included elsewhere in this prospectus. </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="59pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="45pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="54pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="65pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=8 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Years Ended<BR>
Dec.&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Pro Forma<BR>
Year&nbsp;Ended<BR>
Dec.&nbsp;31,<BR>
2014 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:56pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>(In thousands)

<!-- COMMAND=ADD_SCROPPEDRULE,56pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2014 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2013 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2012 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Consolidated Statements of Comprehensive Income Data:</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Revenues</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Trading income, net</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">685,150</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">623,733</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">581,476</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Interest and dividends income</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">27,923</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">31,090</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">34,152</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Technology services</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">9,980</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">9,682</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Total revenues</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">723,053</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">664,505</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">615,628</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:10pt;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Operating Expenses</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Brokerage, exchange and clearance fees, net</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">230,965</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">195,146</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">200,587</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Communication and data processing</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">68,847</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">64,689</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">55,384</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Employee compensation and payroll taxes</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">84,531</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">78,353</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">63,836</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Interest and dividends expense</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">47,083</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">45,196</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">48,735</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Operations and administrative</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">21,923</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">27,215</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">27,826</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Depreciation and amortization</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">30,441</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">23,922</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">17,975</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Amortization of purchased intangibles and acquired capitalized software</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">211</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,011</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">71,654</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Acquisition cost</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">69</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Acquisition related retention bonus</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">2,639</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">6,705</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">6,151</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Impairment of intangible assets</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,489</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Lease abandonment</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">6,134</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Debt issue cost related to debt refinancing(1)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">10,022</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Initial public offering fees and expenses(2)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">8,961</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Transaction advisory fees and expenses(3)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">3,000</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Financing interest expense on senior secured credit facility</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">30,894</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">24,646</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">26,460</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:24pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Total operating expenses</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">529,495</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">476,905</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">526,300</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Income before income taxes</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">193,558</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">187,600</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">89,328</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Provision for income taxes</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">3,501</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">5,397</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,768</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Net income</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">190,057</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">182,203</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">87,560</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Net income attributable to non-controlling interest</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Net income attributable to Virtu Financial,&nbsp;Inc.&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Basic and diluted earnings per share to Class&nbsp;A common stockholders:</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:24pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Basic</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:24pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Diluted</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Weighted average number of shares used in computing earnings per share:</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:24pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Basic</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:24pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Diluted</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;<BR></FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="55pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="54pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="65pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Pro Forma<BR>
as of<BR>
Dec.&nbsp;31,<BR>
2014 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>As of Dec.&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:56pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>(In thousands)

<!-- COMMAND=ADD_SCROPPEDRULE,56pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2014 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2013 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Consolidated Statements of Financial Condition Data:</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Cash and cash equivalents</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">75,864</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">66,010</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Total assets</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">3,324,561</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">3,963,570</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Senior secured credit facility</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">500,827</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">507,725</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Total liabilities</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">2,817,863</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">3,510,282</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Class&nbsp;A-1 redeemable interest(4)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">294,433</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">250,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Total members'/stockholders' equity</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">212,265</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">203,288</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>

 <p style="font-family:arial;"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>22</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=27,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=433476,FOLIO='22',FILE='DISK108:[13ZDI1.13ZDI16701]CG16701A.;174',USER='AGAETZ',CD='23-MAR-2015;11:05' -->
<A NAME="page_cg16701_1_23"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">
 <P style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;<BR></FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="59pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="45pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="54pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="54pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=8 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Years Ended<BR>
Dec.&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Pro Forma<BR>
Year Ended<BR>
Dec.&nbsp;31,<BR>
2014 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:56pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>(In thousands)

<!-- COMMAND=ADD_SCROPPEDRULE,56pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2014 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2013 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2012 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Unaudited Financial Data:</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Adjusted Net Income(5)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">226,536</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">215,372</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">188,305</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">EBITDA(5)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">255,104</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">247,201</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">205,417</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Adjusted EBITDA(5)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">291,372</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">269,337</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">234,508</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Adjusted Net Trading Income(6)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">435,025</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">414,481</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">366,306</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Operating margin(7)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">52</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">52</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">51</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Adjusted EBITDA margin(7)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">67</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">65</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">64</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" >


<DL compact>
<DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(1)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">In
connection with the Madison Tyler Transactions, Virtu Financial entered into a $320.0&nbsp;million senior secured credit facility, which was
subsequently refinanced. A portion of certain financing costs incurred in connection with the original credit facility that were scheduled to be amortized over the five-year term of the loan,
including original issue discount and underwriting and legal fees, were accelerated and recognized at the closing of the refinancing.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(2)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">Initial
public offering fees and expenses reflect costs directly attributable to the Company's initial public offering process, which was postponed in April
2014. The Company accounted for such costs in accordance with ASC 340-10, </FONT><FONT  style="font-size:8pt;line-height:9pt;"><I>Other Assets and Deferred Costs.</I></FONT><FONT  style="font-size:8pt;line-height:9pt;"> ASC 340 states that costs directly attributable
to a successfully completed offering of equity securities may be deferred and charged against the gross proceeds of the offering as a reduction of additional paid-in capital, but for an offering
postponed for a period greater than 90&nbsp;days, the offering costs must be charged as an expense in the period the offering process was postponed.


<BR><BR></FONT></DD>

<DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(3)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">Transaction
advisory fees reflect professional fees incurred by the Company in connection with the Temasek Transaction (as defined below), which was
consummated on December&nbsp;31, 2014.

<BR><BR></FONT></DD>

<DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(4)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">The
Class&nbsp;A-1 interests of Virtu Financial are convertible by the holders at any time into an equivalent number of Class&nbsp;A-2 capital interests
of Virtu Financial and, in a sale or other specified capital transaction, holders are entitled to receive distributions up to specified preference amounts before holders of Class&nbsp;A-2 capital
interests are entitled to receive distributions. In connection with the reorganization transactions, all of the existing equity interests in Virtu Financial will be reclassified into Virtu Financial
Units. See "Organizational Structure&nbsp;&#151; The Reorganization Transactions."
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(5)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">"Adjusted
Net Income" measures our operating performance by adjusting net income to exclude amortization of purchased intangibles and acquired capitalized
software, debt issue cost related to debt refinancing, impairment of intangible assets, lease abandonment, acquisition cost, terminated transaction fees and expenses, initial public offering fees and
expenses, transaction advisory fees and expenses, expenses associated with termination of London leases, severance, acquisition related retention bonus and stock-based compensation expense. "EBITDA"
measures our operating performance by adjusting net income to exclude financing interest expense on senior secured credit facility, debt issue cost related to debt refinancing, depreciation and
amortization, amortization of purchased intangibles and acquired capitalized software and income tax expense, and "Adjusted EBITDA" measures our operating performance by further adjusting EBITDA to
exclude impairment of intangible assets, lease abandonment, terminated transaction fees and expenses, initial public offering fees and expenses, transaction advisory fees and expenses, expenses
associated with termination of London leases, severance, acquisition related retention bonus and stock-based compensation expense. Adjusted Net Income, EBITDA and Adjusted EBITDA are non-GAAP
financial measures used by management in evaluating operating performance and in making strategic decisions. In addition, Adjusted Net Income, EBITDA and Adjusted EBITDA or similar non-GAAP measures
are used by research analysts, investment bankers and lenders to assess our operating performance. Management believes that the presentation of Adjusted Net Income, EBITDA and Adjusted EBITDA provides
useful information to investors regarding our results of operations because it assists both investors and management in analyzing and benchmarking the performance and value of our business. Adjusted
Net Income, EBITDA and Adjusted EBITDA provide indicators of general economic performance that are not affected by fluctuations in certain costs or other items. Accordingly, management believes that
these measurements are useful for comparing general operating performance from period to period. Furthermore, our credit agreement contains covenants and other tests based on metrics similar to
Adjusted EBITDA. Other companies may define Adjusted Net Income or Adjusted EBITDA differently, and as a result our measures of Adjusted Net Income and Adjusted EBITDA may not be directly comparable
to those of other companies. Although we use Adjusted Net Income, EBITDA and Adjusted EBITDA as financial measures to assess the performance of our business, such use is limited because they do not
include certain material costs necessary to operate our business. Adjusted Net Income, EBITDA and Adjusted EBITDA should be considered in addition to, and not as a substitute for, net income in
accordance with U.S.&nbsp;GAAP as a measure of performance. Our presentation of Adjusted Net Income, EBITDA and Adjusted EBITDA should not be construed as an indication that our future results will
be unaffected by unusual or nonrecurring items. Adjusted Net Income and our EBITDA-based measures have limitations as analytical </FONT></DD></DL>
 <p style="font-family:arial;"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>23</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=28,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=449192,FOLIO='23',FILE='DISK108:[13ZDI1.13ZDI16701]CG16701A.;174',USER='AGAETZ',CD='23-MAR-2015;11:05' -->
<A NAME="page_cg16701_1_24"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">
 <UL>

<P style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">tools,
and you should not consider them in isolation or as substitutes for analysis of our results as reported under U.S.&nbsp;GAAP. Some of these limitations
are:</FONT></P>

<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">they do not reflect every cash expenditure, future requirements for capital expenditures or contractual
commitments; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">our EBITDA-based measures do not reflect the significant interest expense or the cash requirements
necessary to service interest or principal payment on our debt; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">although depreciation and amortization are non-cash charges, the assets being depreciated and amortized
will often have to be replaced or require improvements in the future, and our EBITDA-based measures do not reflect any cash requirement for such replacements or improvements; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">they are not adjusted for all non-cash income or expense items that are reflected in our statements of cash
flows; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">they do not reflect the impact of earnings or charges resulting from matters we consider not to be
indicative of our ongoing operations; and</FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">they do not reflect limitations on our costs related to transferring earnings from our subsidiaries to us.
<BR><BR></FONT></DD></DL>
</UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><BR></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">Because
of these limitations, Adjusted Net Income, EBITDA and Adjusted EBITDA are not intended as alternatives to net income as indicators of
our operating performance and should not be considered as measures of discretionary cash available to us to invest in the growth of our business or as measures of cash that will be available to us to
meet our obligations. We compensate for these limitations by using Adjusted Net Income, EBITDA and Adjusted EBITDA along with other comparative tools, together with U.S.&nbsp;GAAP measurements, to
assist in the evaluation of operating performance. These U.S.&nbsp;GAAP measurements include operating income (loss), net income (loss), cash flows from operations and cash flow data. Our
U.S.&nbsp;GAAP-based measures can be found in our consolidated financial statements and related notes included elsewhere in this prospectus. </FONT></DD></DL>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT  style="font-size:8pt;line-height:9pt;">The following table reconciles net income to Adjusted Net Income: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="59pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="45pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="45pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="45pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=8 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Years Ended<BR>
Dec.&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Pro Forma<BR>
Year Ended<BR>
Dec.&nbsp;31,<BR>
2014 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:56pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>(In thousands)

<!-- COMMAND=ADD_SCROPPEDRULE,56pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2014 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2013 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2012 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Net income</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">190,057</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">182,203</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">87,560</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Amortization of purchased intangibles and acquired capitalized software</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">211</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,011</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">71,654</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Debt issue cost related to debt refinancing</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">10,022</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Impairment of intangible assets</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,489</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Lease abandonment</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">6,134</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Acquisition cost</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">69</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Terminated transaction fees and expenses(a)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">4,727</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Initial public offering fees and expenses</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">8,961</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Transaction advisory fees and expenses</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">3,000</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Expenses associated with termination of London leases(b)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">849</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Severance(c)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">4,786</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,990</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">2,123</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Acquisition related retention bonus</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">2,639</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">6,705</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">6,151</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Stock-based compensation</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">16,033</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">13,441</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">8,398</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Adjusted Net Income</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">226,536</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">215,372</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">188,305</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
<DIV style="padding:0pt;position:relative;text-align:left;margin-left:10%;">
 <UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(a)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">Represents
expense of $4.7&nbsp;million incurred in connection with our attempt to purchase a publicly traded market making and financial services firm
during the year ended December&nbsp;31, 2012 and the professional and other fees incurred in connection therewith.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(b)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">Represents
deferred lease write-off of $0.4&nbsp;million and one-time payment of $0.4&nbsp;million for the termination of the lease of our London
office.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(c)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">Represents
expense of $4.8&nbsp;million, $2.0&nbsp;million and $2.1&nbsp;million incurred for the years ended December&nbsp;31, 2014,
2013&nbsp;and 2012, respectively, primarily relating to the employee costs associated with consolidation of operations following the Madison Tyler Transactions. </FONT></DD></DL>
</UL>
 </DIV>

 <p style="font-family:arial;"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>24</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=29,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=410595,FOLIO='24',FILE='DISK108:[13ZDI1.13ZDI16701]CG16701A.;174',USER='AGAETZ',CD='23-MAR-2015;11:05' -->
<A NAME="page_cg16701_1_25"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">

<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><BR></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">The
following table reconciles net income to EBITDA and Adjusted EBITDA: </FONT></DD></DL>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="59pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="45pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="45pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="45pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=8 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Years Ended<BR>
Dec.&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Pro Forma<BR>
Year Ended<BR>
Dec.&nbsp;31,<BR>
2014 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:56pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>(In thousands)

<!-- COMMAND=ADD_SCROPPEDRULE,56pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2014 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2013 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2012 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Net income</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">190,057</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">182,203</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">87,560</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Financing interest expense on senior secured credit facility</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">30,894</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">24,646</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">26,460</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Debt issue cost related to debt refinancing</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">10,022</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Depreciation and amortization</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">30,441</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">23,922</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">17,975</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Amortization of purchased intangibles and acquired capitalized software</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">211</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,011</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">71,654</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Income tax expense</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">3,501</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">5,397</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,768</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>EBITDA</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">255,104</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">247,201</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">205,417</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Impairment of intangible assets</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,489</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Lease abandonment</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">6,134</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Acquisition cost</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">69</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Terminated transaction fees and expenses(a)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">4,727</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Initial public offering fees and expenses</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">8,961</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Transaction advisory fees and expenses</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">3,000</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Expenses associated with termination of London leases(b)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">849</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Severance(c)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">4,786</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,990</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">2,123</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Acquisition related retention bonus</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">2,639</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">6,705</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">6,151</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Stock-based compensation</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">16,033</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">13,441</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">8,398</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Adjusted EBITDA</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">291,372</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">269,337</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">234,508</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
<DIV style="padding:0pt;position:relative;text-align:left;margin-left:10%;">
 <UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(a)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">Represents
expense of $4.7&nbsp;million incurred in connection with our attempt to purchase a publicly traded market making and financial services firm
during the year ended December&nbsp;31, 2012 and the professional and other fees incurred in connection therewith.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(b)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">Represents
deferred lease write-off of $0.4&nbsp;million and one-time payment of $0.4&nbsp;million for the termination of the lease of our London
office.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(c)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">Represents
expense of $4.8 million, $2.0&nbsp;million and $2.1&nbsp;million incurred for the years ended December&nbsp;31, 2014, 2013 and 2012,
respectively, primarily relating to the employee costs associated with consolidation of operations following the Madison Tyler Transactions. </FONT></DD></DL>
</UL>
 </DIV>
 <DL compact>
<DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(6)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">"Adjusted
Net Trading Income" is the amount of revenue we generate from our market making activities, or trading income, net, plus interest and dividends
income and expense, net, less direct costs associated with those revenues, including brokerage, exchange and clearance fees, net. Rather than analyzing these components of our operating results
individually, we generally view them on an aggregate basis in the context of Adjusted Net Trading Income. Adjusted Net Trading Income is a non-GAAP financial measure. Our total Adjusted Net Trading
Income is the primary metric used by management in evaluating performance, making strategic decisions and allocating resources, and the primary factor influencing Adjusted Net Trading Income is volume
levels. Management believes that the presentation of Adjusted Net Trading Income provides useful information to investors regarding our results of operations because it assists both investors and
management in analyzing and benchmarking the performance and value of our business. Adjusted Net Trading Income provides an indicator of the performance of our market making activities that is not
affected by revenues or expenses that are not directly associated with such activities. Accordingly, management believes that this measurement is useful for comparing general operating performance
from period to period. Although we use Adjusted Net Trading Income as a financial measure to assess the performance of our business, the use of Adjusted Net Trading Income is limited because it does
not include certain material costs that are necessary to operate our business. Adjusted Net Trading Income should be considered in addition to, and not as a substitute for, trading income, net, in
accordance with U.S.&nbsp;GAAP as a measure of performance. Our presentation of Adjusted Net Trading Income should not be construed as an indication that our future results will be unaffected by
revenues or expenses that are not directly associated with our market making activities. Adjusted Net Trading Income is limited as an analytical tool, and you should not consider it in isolation or as
a substitute for analysis of our results as reported under U.S.&nbsp;GAAP. Our U.S.&nbsp;GAAP-based measures can be found in our consolidated financial statements and related notes included
elsewhere in this prospectus. </FONT></DD></DL>
 <p style="font-family:arial;"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>25</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=30,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=610896,FOLIO='25',FILE='DISK108:[13ZDI1.13ZDI16701]CG16701A.;174',USER='AGAETZ',CD='23-MAR-2015;11:05' -->
<A NAME="page_cg16701_1_26"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT  style="font-size:8pt;line-height:9pt;">The following table reconciles trading income, net, to Adjusted Net Trading Income: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="49pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="49pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="49pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Years Ended Dec.&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:56pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>(In thousands)

<!-- COMMAND=ADD_SCROPPEDRULE,56pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2014 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2013 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2012 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Trading income, net</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">685,150</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">623,733</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">581,476</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Interest and dividends income and expense, net</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(19,160</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(14,106</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(14,583</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Brokerage, exchange and clearance fees, net</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(230,965</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(195,146</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(200,587</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Adjusted Net Trading Income</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">435,025</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">414,481</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">366,306</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT  style="font-size:8pt;line-height:9pt;">The following table shows our Adjusted Net Trading Income, average daily Adjusted Net Trading Income and
percentage of Adjusted Net Trading Income by asset class for the years ended December&nbsp;31, 2014, 2013 and&nbsp;2012. </FONT></P>
 <DIV style="padding:0pt;position:relative;width:54%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"150%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="150%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="45pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="39pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="21pt" style="font-family:arial;"></TD>
<TD WIDTH="14pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="45pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="39pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="26pt" style="font-family:arial;"></TD>
<TD WIDTH="14pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="45pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="39pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="21pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=26 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Years Ended Dec.&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2014 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2013 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2012 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:119pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>(In thousands, except percentages)

<!-- COMMAND=ADD_SCROPPEDRULE,119pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Total </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Average<BR>
Daily(a) </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>% </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Total </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Average<BR>
Daily(a) </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>% </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Total </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Average<BR>
Daily(a) </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>% </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Adjusted Net Trading Income:</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Asset Class</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Americas Equities(b)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">113,402</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">450</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">26</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">111,098</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">441</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">27</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">108,845</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">435</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">30</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">EMEA Equities</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">51,604</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">205</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">12</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">44,435</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">176</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">11</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">45,799</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">183</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">13</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">APAC Equities</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">29,965</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">119</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">7</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">45,566</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">181</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">11</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">41,924</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">168</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">11</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Global Commodities</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">93,083</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">369</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">21</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">94,934</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">377</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">23</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">96,602</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">386</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">26</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Global Currencies</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">109,693</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">435</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">25</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">81,014</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">321</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">20</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">50,766</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">203</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">14</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Options, Fixed Income and Other Securities</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">42,321</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">168</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">10</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">38,499</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">153</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">9</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">26,628</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">106</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">7</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Unallocated(c)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(5,043</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(20</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"> (1</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(1,065</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(4</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"> (1</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(4,258</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(17</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"> (1</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)%</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Total Adjusted Net Trading Income</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">435,025</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,726</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">100</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">414,481</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,645</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">100</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">366,306</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,464</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">100</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
<DIV style="padding:0pt;position:relative;text-align:left;margin-left:10%;">
 <UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(a)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">Average
daily Adjusted Net Trading Income figures are based on (i)&nbsp;252 trading days during the year ended December&nbsp;31, 2014, (ii)&nbsp;252
trading days during the year ended December&nbsp;31, 2013 and (iii)&nbsp;250 trading days during the year ended December&nbsp;31, 2012.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(b)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">In
2014, our Adjusted Net Trading Income, average daily Adjusted Net Trading Income and percentage of Adjusted Net Trading Income for Americas Equities
consisted of approximately $86.5&nbsp;million, $343,000 and 20%, respectively, attributable to U.S. equities, and approximately $26.9&nbsp;million, $107,000 and 6%, respectively, attributable to
Canadian and Latin American equities.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(c)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">Under
our methodology for recording "trading income, net" in our consolidated statements of comprehensive income, we recognize revenues based on the exit
price of assets in accordance with applicable U.S.&nbsp;GAAP rules, and when we calculate Adjusted Net Trading Income for corresponding reporting periods, we start with trading income, net, so
calculated. By contrast, when we calculate Adjusted Net Trading Income by asset class, we recognize revenues on a daily basis, and as a result prices used in recognizing revenues may differ. Because
we provide liquidity on a global basis, across asset classes and time zones, the timing of any particular daily Adjusted Net Trading Income calculation can effectively defer or accelerate revenue from
one day to another or one reporting period to another, as the case may be. We do not allocate any resulting differences based on the timing of revenue recognition. </FONT></DD></DL>
</UL>
 </DIV>
 <DL compact>
<DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(7)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">We
calculate "operating margin" by dividing Adjusted Net Income by Adjusted Net Trading Income. We calculate "Adjusted EBITDA margin" by dividing Adjusted
EBITDA by Adjusted Net Trading Income. Operating margin and Adjusted EBITDA margin are non-GAAP financial measures used by management in evaluating operating performance and in making strategic
decisions. Other companies may define operating margin and Adjusted EBITDA margin differently, and as a result our measures may not be directly comparable to those of other companies. These measures
should be considered in addition to, rather than as a substitute for, the comparable U.S.&nbsp;GAAP financial measures as measures of our operating performance. </FONT></DD></DL>
 <p style="font-family:arial;"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>26</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=31,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=537234,FOLIO='26',FILE='DISK108:[13ZDI1.13ZDI16701]CG16701A.;174',USER='AGAETZ',CD='23-MAR-2015;11:05' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_ci16701_1_27"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="ci16701_risk_factors"> </A>
<A NAME="toc_ci16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  RISK FACTORS    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=2><I>Investing in our Class&nbsp;A common stock involves substantial risks. In addition to the other information
in this prospectus, you should carefully consider the following factors before investing in our Class&nbsp;A common stock. Any of the risk factors we describe below could have a material adverse
effect on our business, financial condition or results of operations. The market price of our Class&nbsp;A common stock could decline if one or more of these risks or uncertainties develop into
actual events, causing you to lose all or part of your investment. While we believe these risks and uncertainties are especially important for you to consider, we may face other risks and
uncertainties that could have a material adverse effect on our business. Certain statements contained in the risk factors described below are forward-looking statements. See "Forward-Looking
Statements" for more information.</I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Risks Related to Our Business  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Because our revenues and profitability depend on trading volume and volatility in the markets in which we operate, they are subject to factors beyond our control, are prone
to significant fluctuations and are difficult to predict.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our revenues and profitability depend in part on the level of trading activity of securities, derivatives and other financial products
on exchanges and in other trading venues in the U.S. and abroad, which are directly affected by factors beyond our control, including economic and political conditions, broad trends in business and
finance and changes in the markets in which such transactions occur. Weaknesses in the markets in which we operate, including economic slowdowns in recent years, have historically resulted in reduced
trading volumes for us. Declines in trading volumes generally result in lower revenues from market making and transaction execution activities. Lower levels of volatility generally have the same
directional impact. Declines in market values of securities or other financial instruments can also result in illiquid markets, which can also result in lower revenues and profitability from market
making and transaction execution activities. Lower price levels of securities and other financial instruments, as well as compressed bid/ask spreads, which often follow lower pricing, can further
result in reduced revenues and profitability. These factors can also increase the potential for losses on securities or other financial instruments held in inventory and failures of buyers and sellers
to fulfill their obligations and settle their trades, as well as claims and litigation. Any of the foregoing factors could have a material adverse effect on our business, financial condition and
results of operations. In the past, our revenues and operating results have varied significantly from period to period due primarily to movements and trends in the underlying markets and to
fluctuations in trading volumes and volatility levels. As a result, period to period comparisons of our revenues and operating results may not be meaningful, and future revenues and profitability may
be subject to significant fluctuations or declines. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> We are dependent upon our trading counterparties and clearing houses to perform their obligations to us.  </I></B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our business consists of providing consistent two-sided liquidity to market participants across numerous geographies and asset
classes. In the event of a systemic market event, resulting from large price movements or otherwise, certain market participants may not be able to meet their obligations to their trading
counterparties, who, in turn, may not be able to meet their obligations to their other trading counterparties, which could lead to major defaults by one or more market participants. Following the
implementation of certain mandates under the Dodd-Frank Act in the U.S. and similar legislation worldwide, many trades in the securities and futures markets, and an increasing number of trades in the
over-the-counter derivatives markets, are
cleared through central counterparties. These central counterparties assume, and specialize in managing, counterparty performance risk relating to such trades. However, even when trades are cleared in
this manner, there can be no assurance that a clearing house's risk management methodology will be adequate to manage one or more defaults. Given the concentration of counterparty performance risk
that is </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>27</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=32,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=256338,FOLIO='27',FILE='DISK108:[13ZDI1.13ZDI16701]CI16701A.;56',USER='MTITUSS',CD='23-MAR-2015;14:38' -->
<A NAME="page_ci16701_1_28"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>concentrated
in central clearing parties, any failure by a clearing house to properly manage a default could lead to a systemic market failure. If our trading counterparties do not meet their
obligations to us, or if any central clearing parties fail to properly manage defaults by market participants, we could suffer a material adverse effect on our business, financial condition and
results of operations. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> We may incur losses in our market making activities in the event of failures of our customized trading platform.  </I></B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The success of our market making business is substantially dependent on the accuracy and performance of our customized trading
platform, which evaluates and monitors the risks inherent in our market making strategies, assimilates market data and reevaluates our outstanding quotes continuously throughout the trading day. Our
strategies are designed to automatically rebalance our positions throughout the trading day to manage risk exposures on our positions. Flaws in our strategies, latencies or inaccuracies in the market
data that we use to generate our quotes, or human error in managing risk parameters or other strategy inputs, may lead to unexpected and unprofitable trades, which may result in material trading
losses and could have a material adverse effect on our business, financial condition and results of operations. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> We may incur material trading losses from our market making activities.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A significant portion of our revenues and operating profits are derived from our trading as principal in our role as a formal or
registered market maker and liquidity provider on various exchanges and markets, including as a designated market maker ("DMM") on the New York Stock Exchange. We may incur trading losses relating to
these activities since each primarily involves the purchase, sale or short sale of securities, futures and other financial
instruments for our own account. In any period, we may incur significant trading losses for a variety of reasons, including price changes, lack of liquidity in instruments in which we have positions
and the required performance of our market making obligations. Furthermore, we may from time to time develop large position concentrations in securities or other financial instruments of a single
issuer or issuers engaged in a specific industry, or alternatively a single future or other financial instrument, which would result in the risk of higher trading losses than if our concentration were
lower. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These
risks may limit or restrict, for example, our ability to either resell securities we have purchased or to repurchase securities we have sold. In addition, we may experience
difficulty borrowing securities to make delivery to purchasers to whom we have sold securities short or lenders from whom we have borrowed securities. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
our role as a market maker, we attempt to derive a profit from bid/ask spreads. However, competitive forces often require us to match or improve upon the quotes that other market
makers display, thereby narrowing bid/ask spreads, and to hold long or short positions in securities, futures or other financial instruments. We cannot assure you that we will be able to manage these
risks successfully or that we will not experience significant losses from such activities, which could have a material adverse effect on our business, financial condition and results of operations. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
risk management activities utilize a four-pronged approach, consisting of strategy lockdowns, centralized strategy monitoring, aggregate exposure monitoring and operational
controls. In particular, messages that leave our trading environment first must pass through a series of preset risk controls or "lockdowns" that are intended to minimize the likelihood of unintended
activities. In certain cases this layer of risk management, which adds a layer of latency to our process, may limit our ability to profit from acute volatility in the markets. This would be the case,
for example, where a particular strategy being utilized by one of our traders is temporarily locked down for generating revenue in excess of the preset risk limit. Even if we are able to quickly and
correctly identify the reasons for a lockdown and quickly resume the trading strategy, we may limit our potential upside as a result of our risk management policies. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>28</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=33,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=869386,FOLIO='28',FILE='DISK108:[13ZDI1.13ZDI16701]CI16701A.;56',USER='MTITUSS',CD='23-MAR-2015;14:38' -->
<A NAME="page_ci16701_1_29"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> The valuation of the securities we hold at any particular time may result in large and occasionally anomalous swings in the value of our positions and in our earnings in any
period.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The market prices of our long and short positions are reflected on our books at closing prices, which are typically the last trade
prices before the official close of the primary exchange on which each such security trades. Given that we manage a globally integrated portfolio, we may have large and substantially offsetting
positions in securities that trade on different exchanges that close at different times of the trading day and may be denominated in different currencies. Further, there may be large and occasionally
anomalous swings in the value of our positions on any particular day and in our earnings in any period. Such swings may be especially pronounced on the last business day of each calendar quarter, as
the discrepancy in official closing prices resulting from the asynchronous closing times may cause us to recognize a gain or loss in one quarter which would be substantially offset by a corresponding
loss or gain in the following quarter. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I> We are exposed to losses due to lack of perfect information.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As a market maker, we provide liquidity by consistently buying securities from sellers and selling securities to buyers. We may at
times trade with others who have information that is more accurate or complete than the information we have, and as a result we may accumulate unfavorable positions preceding large price movements in
a given instrument. Should the frequency or magnitude of these events increase, our losses would likely increase correspondingly, which could have a material adverse effect on our business, financial
condition and results of operations. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I> We face competition in our market making activities.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues from our market making activities depend on our ability to offer to buy and sell financial instruments at prices that are
attractive and represent the best bid and/or offer in a given instrument at a given time. To attract order flow, we compete with other firms not only on our ability to provide liquidity at competitive
prices, but also on other factors such as order execution speed and technology. Our competitors include other registered market makers as well as unregulated or lesser-regulated trading firms that
also compete to provide liquidity. Our competitors range from sole proprietors with very limited resources to highly sophisticated groups, hedge funds, well-capitalized broker-dealers and proprietary
trading firms or other market makers that have substantially greater financial and other resources than we do. These larger and better capitalized competitors may be better able to respond to changes
in the market making industry, to compete for skilled professionals, to finance acquisitions, to fund internal growth, to manage costs and expenses and to compete for market share generally. Trading
firms that are not registered as broker-dealers or broker-dealers not registered as market makers may in some instances have
certain advantages over more regulated firms, including our subsidiaries, that may allow them to bypass regulatory restrictions and trade more cheaply than more regulated participants on some markets
or exchanges. In addition, we may in the future face enhanced competition from new market participants that may also have substantially greater financial and other resources than we do, which may
result in compressed bid/ask spreads in the marketplace that may negatively impact our financial performance. Moreover, current and potential competitors may establish cooperative relationships among
themselves or with third parties or may consolidate to enhance their services and products. The trend toward increased competition in our business is expected to continue, and it is possible that our
competitors may acquire increased market share. Increased competition or consolidation in the marketplace could reduce the bid/ask spreads on which our business and profitability depend. As a result,
there can be no assurance that we will be able to compete effectively with current or future competitors, which could have a material adverse effect on our business, financial condition and results of
operations. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>29</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=34,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=535261,FOLIO='29',FILE='DISK108:[13ZDI1.13ZDI16701]CI16701A.;56',USER='MTITUSS',CD='23-MAR-2015;14:38' -->
<A NAME="page_ci16701_1_30"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> We are subject to liquidity risk in our operations.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We require liquidity to fund various ongoing obligations, including operating expenses, capital expenditures, debt service and
dividend payments. Our main sources of liquidity are cash flow from the operations of our subsidiaries, our broker-dealer revolving credit facility (described under "Management's Discussion and
Analysis of Financial Condition and Results of Operations&nbsp;&#151; Liquidity and Capital Resources&nbsp;&#151; Credit Facilities"), margin financing provided by our prime brokers
and cash on hand. Our liquidity could be materially impaired by a number of factors, including reduced business activity due to a market downturn, adverse regulatory action or a downgrade of our
credit rating. If our business activities decrease or we are unable to borrow additional funds in the future on terms that are acceptable to us, or at all, we could suffer a material adverse effect on
our business, financial condition and results of operations. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Self-clearing and other elements of our trade processing operations expose us to significant operational, financial and liquidity risks.  </I></B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We currently self-clear substantially all of our domestic equity trades and may expand our self-clearing operations internationally
and across product offerings and asset classes in the future. Self-clearing exposes our business to operational risks, including business disruption, operational inefficiencies, liquidity, financing
risks, counterparty performance risk and potentially increased expenses and lost revenue opportunities. While our clearing platform, operational processes, risk methodologies, enhanced infrastructure
and current and future financing
arrangements have been carefully designed, we may nevertheless encounter difficulties that may lead to operating inefficiencies, including delays in implementation, disruption in the infrastructure
that supports the business, inadequate liquidity and financial loss. Any such delay, disruption or failure could negatively impact our ability to effect transactions and manage our exposure to risk
and could have a material adverse effect on our business, financial condition and results of operations. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Rules governing designated market makers may require us to make unprofitable trades or prevent us from making profitable trades from time to time.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DMMs&nbsp;are granted certain rights and have certain obligations to "make a market" in a particular security. They agree to
specific obligations that are designed to maintain a fair and orderly market. In acting as a DMM, we are subject to a high degree of risk by having to support an orderly market. In this role, we may
at times be required to make trades that negatively impact our profitability. In addition, we may at times be unable to trade for our own account in circumstances in which it may be to our advantage
to trade, and we may be obligated to act as a principal when buying and selling interest is unbalanced. In those instances, we may take a position counter to the market, buying or selling securities
to support an orderly market. Additionally, the rules of the markets that govern our activities as a DMM and the interpretations of such rules are subject to change. If these rules or interpretations
impose new or more stringent obligations on us, our trading revenues and profits as a DMM could be negatively impacted and we could suffer a material adverse effect on our business, financial
condition and results of operations. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I> Regulatory and legal uncertainties could harm our business.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities and derivatives businesses are heavily regulated. Firms in the financial services industry have been subject to an
increasingly regulated environment over recent years, and penalties and fines sought by regulatory authorities have increased considerably. In addition, following recent news media attention to
electronic trading and market structure, this regulatory and enforcement environment has created uncertainty with respect to various types of transactions that historically had been entered into by
financial services firms and that were generally believed to be permissible and appropriate. "High frequency" and other forms of low latency or electronic trading strategies continue to be the focus
of extensive regulatory scrutiny by federal, state and foreign regulators and self-regulatory organizations ("SROs"), and such scrutiny is likely to continue. While </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>30</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=35,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=658435,FOLIO='30',FILE='DISK108:[13ZDI1.13ZDI16701]CI16701A.;56',USER='MTITUSS',CD='23-MAR-2015;14:38' -->
<A NAME="page_ci16701_1_31"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>we
do not engage in the type of principal investing or predictive, momentum or signal trading that are often associated with high frequency trading, our market making and trading activities are
characterized by substantial volumes, an emphasis on technology and certain other characteristics that are also commonly associated with high frequency trading. Specifically, both the SEC and the
Commodity Futures Trading Commission ("CFTC") have issued general concept releases on market structure requesting comment from market participants on topics including, among others, high frequency
trading, co-location, dark liquidity pre- and post-trade risk controls and system safeguards. The SEC has adopted rules that, among other results, have significantly limited the use of sponsored
access by market participants to the U.S. equities exchanges, imposed large trader reporting requirements, restricted short sales in listed securities under certain conditions and required the
planning and creation of a new comprehensive consolidated audit trail. The SEC has also approved by order a proposal adopted by the Financial Industry Regulatory Authority,&nbsp;Inc. ("FINRA")
establishing a "Limit Up-Limit Down" mechanism to address market volatility. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, certain market participants, SROs, government officials and regulators have requested that the U.S. Congress and the SEC propose and adopt additional laws and rules,
including rules relating to restrictions on co-location, order-to-execution ratios, minimum quote life for orders, incremental messaging fees to be imposed by exchanges for "excessive" order
placements and/or cancellations, further transaction taxes, tick sizes and other market structure proposals. For example, the SEC recently adopted Regulation SCI, which could impose significant
compliance and other costs on market centers that may have to pass such costs on to their users, including us, and could impact our future business plans of establishing a market center to avoid or
reduce market center costs for certain of our transactions. Similarly, the consolidated audit trail, which the SEC has required the SROs to propose a plan for and will require them to implement, is
expected to entail significant costs both on market centers, which may pass these costs along to their users, and broker-dealers directly. In February 2015, the NYSE proposed a new rule to conduct a
daily single-priced auction at a specified time in lower volume securities ("Midday Auction"). Beginning at a specified time, the NYSE would pause trading in the Midday Auction, suspend automatic
executions and publish a zero quote on both the public and proprietary data feeds. If adopted, the new rule could result in reduced opportunities for liquidity providers to provide liquidity in such
lower-volume securities outside the Midday Auction while reducing spreads during the Midday Auction. Finally, the SEC required that the SROs propose a pilot program to increase the minimum trading
increment, or "tick size," for certain securities. The proposed pilot program would include a "trade at" component, requiring that certain of these transactions occur only on an exchange. If adopted
as proposed and not accompanied by a reduction in the fees paid to access liquidity on exchanges, the trade at requirement may increase the costs for certain of our transactions. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any or all of these proposals or additional proposals may be adopted by the SEC, CFTC or other U.S. or foreign legislative or regulatory bodies, and recent news media attention to
electronic trading and market structure could increase the likelihood of adoption. These potential market structure and regulatory changes could cause a change in the manner in which we make markets,
impose additional costs and expenses on our business or otherwise have a material adverse effect on our business, financial condition and results of operations.

 </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, the financial services industry is heavily regulated in many foreign countries, much like in the U.S. The varying compliance requirements of these different regulatory
jurisdictions and other factors may limit our ability to conduct business or expand internationally. For example, the Markets in Financial Instruments Directive ("MiFID"), which was implemented in
November 2007, is in the process of being replaced by MiFID II/Markets in Financial Investments Regulation ("MiFIR"), which was adopted by the European Parliament on April&nbsp;15, 2014 and by the
Council on May&nbsp;13, 2014, and entered into force on July&nbsp;2, 2014. The MiFID II/MiFIR proposals include many changes likely to affect our business. For example, MiFID II/MiFIR will require
certain types of firms, including </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>31</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=36,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=465041,FOLIO='31',FILE='DISK108:[13ZDI1.13ZDI16701]CI16701A.;56',USER='MTITUSS',CD='23-MAR-2015;14:38' -->
<A NAME="page_ci16701_1_32"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>us,
to post firm quotes at competitive prices and will supplement current requirements with regard to investment firms' risk controls related to the safe operation of electronic systems. MiFID
II/MiFIR will also impose additional requirements on market structure, such as the introduction of a harmonized tick size regime, the introduction of new trading Organized Trading Facilities, new open
access provisions, market making requirements and various other pre- and post-trade risk management requirements. Each of these and other proposals may impose technological and compliance costs on us.
Any of these laws, rules or regulations, if adopted, as well as changes in legislation or regulation and changes in market customs and practices could have a material adverse effect on our business,
financial condition and results of operations. These risks may be enhanced by recent scrutiny of electronic trading and market structure from regulators, lawmakers and the financial news media. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, we maintain borrowing facilities with banks and prime brokers, and obtain uncommitted margin financing from our prime brokers, which are in many cases affiliated with
banks. In response to the financial crisis, the Basel Committee on Banking Supervision issued a new, more stringent capital and liquidity framework known as Basel III, which national banking
regulators are in the process of implementing in the various jurisdictions in which our lenders may be incorporated. As these rules are implemented and impose more stringent capital and liquidity
requirements, certain of our lenders may revise the terms of our borrowing facilities or margin financing arrangements, reduce the amount of financing they provide, or cease providing us financing,
each of which could have a material adverse effect on our business, financial condition and results of operations.

 </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Non-compliance with applicable laws or regulatory requirements could negatively impact our reputation, prospects, revenues and earnings.  </I></B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our subsidiaries are subject to regulations in the U.S., and our foreign subsidiaries are subject to regulations abroad, in each case
covering all aspects of their business. Regulatory bodies that exercise or may exercise authority over us include, without limitation, in the U.S., the SEC, FINRA, the Chicago Stock Exchange, the
Chicago Mercantile Exchange, the CFTC,
the National Futures Association ("NFA") and the various state securities regulators; in Ireland, the Central Bank of Ireland; in Switzerland, the Swiss Financial Market Supervisory Authority; in
France, the Autorit&eacute; des March&eacute;s Financiers ("AMF"); in the United Kingdom, the Financial Conduct Authority ("FCA"); in Hong Kong, the Securities and Futures Commission
("SFC"); in Australia, the Australian Securities and Investment Commission; in Canada, the Investment Industry Regulatory Organization of Canada and various Canadian provincial securities commissions;
in Singapore, the Monetary Authority of Singapore and the Singapore Exchange; and in Japan, the Financial Services Agency and the Japan Securities Dealers Association. Our mode of operation and
profitability may be directly affected by additional legislation and changes in rules promulgated by various domestic and foreign government agencies and SROs that oversee our businesses, in addition
to changes in the interpretation or enforcement of existing laws and rules, including the potential imposition of additional capital and margin requirements and/or transaction taxes. While we endeavor
to timely deliver required annual filings in all jurisdictions, we cannot guarantee that we will meet every applicable filing deadline globally. Certain of our subsidiaries have yet to complete
statutorily required filings for the year ended December&nbsp;31, 2013. Noncompliance with applicable laws or regulations could result in sanctions being levied against us, including fines,
penalties, disgorgement and censures, suspension or expulsion from a certain jurisdiction, SRO or market or the revocation or limitation of licenses. Noncompliance with applicable laws or regulations
could also negatively impact our reputation, prospects, revenues and earnings. In addition, changes in current laws or regulations or in governmental policies could negatively impact our operations,
revenues and earnings. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Domestic
and foreign stock exchanges, other SROs and state and foreign securities commissions can censure, fine and issue cease-and-desist orders to suspend or expel a broker- </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>32</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=37,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=833672,FOLIO='32',FILE='DISK108:[13ZDI1.13ZDI16701]CI16701A.;56',USER='MTITUSS',CD='23-MAR-2015;14:38' -->
<A NAME="page_ci16701_1_33"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>dealer
or other market participant or any of its officers or employees. Our ability to comply with all applicable laws and rules is largely dependent on our internal systems to ensure compliance, as
well as our ability to attract and retain qualified compliance personnel. We could be subject to disciplinary or other actions in the future due to claimed noncompliance, which could have a material
adverse effect on our business, financial condition and results of operations. We have been, are currently, and may in the future be, the subject of one or more regulatory or SRO enforcement actions,
including but not limited to targeted and routine regulatory inquiries and investigations involving Regulation NMS, Regulation SHO, capital requirements and other domestic and foreign securities rules
and regulations. We and other broker-dealers and trading firms have also been the subject of requests for information and documents from the SEC and the State of New York Office of the Attorney
General ("NYAG"). We have been cooperating and complying with the SEC's and NYAG's requests for information and documents. Our business or reputation could be negatively impacted if it were determined
that disciplinary or other enforcement actions were required. For example, the CFTC has requested certain information from us relating to our trading during the period from July 2011 to
February&nbsp;2014. We do not believe that our trading activity during this time period violated any statute or CFTC regulatory provision, but we cannot predict the outcome of this inquiry. In
addition, the AMF is examining the trading activities of a subsidiary of Madison Tyler Holdings in certain French listed equity securities in or around 2009. The AMF board, upon the report of its
investigation division, has decided to refer the matter to the AMF enforcement
committee who could decide to impose administrative sanctions or monetary penalties for market manipulation or breach of professional obligations applicable to&nbsp;us. While we maintain that the
trading activity under review was conducted appropriately and in compliance with applicable law and regulation, a determination that disciplinary or other enforcement actions are required could
negatively impact our reputation and business. To continue to operate and to expand our services internationally, we will have to comply with the regulatory controls of each country in which we
conduct or intend to conduct business, the requirements of which may not be clearly defined. The varying compliance requirements of these different regulatory jurisdictions, which are often unclear,
may limit our ability to continue existing international operations and further expand internationally. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Failure to comply with applicable regulatory capital requirements could subject us to sanctions imposed by the SEC, FINRA and other SROs or regulatory bodies.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain of our subsidiaries are subject to regulatory capital rules of the SEC, FINRA, other SROs and foreign regulators. These rules,
which specify minimum capital requirements for our regulated subsidiaries, are designed to measure the general financial integrity and liquidity of a broker-dealer and require that at least a minimum
part of its assets be kept in relatively liquid form. In general, net capital is defined as net worth (assets minus liabilities), plus qualifying subordinated borrowings, less certain mandatory
deductions that result from, among other things, excluding assets that are not readily convertible into cash and from valuing conservatively certain other assets. Among these deductions are
adjustments, commonly called haircuts, which reflect the possibility of a decline in the market value of an asset before disposition, and non-allowable assets. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Failure
to maintain the required minimum capital may subject our regulated subsidiaries to a requirement to cease conducting business, suspension, revocation of registration or
expulsion by the applicable regulatory authorities, and ultimately could require the relevant entity's liquidation. Events relating to capital adequacy could give rise to regulatory actions that could
limit business expansion or require business reduction. SEC and SRO net capital rules prohibit payments of dividends, redemptions of stock, prepayments of subordinated indebtedness and the making of
any unsecured advances or loans to a stockholder, employee or affiliate, in certain circumstances, including if such payment would reduce the firm's net capital below required levels. Similar issues
and risks arise in connection with the capital adequacy requirements of foreign regulators. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
change in the net capital rules, the imposition of new rules or any unusually large charges against net capital could limit our operations that require the intensive use of capital
and also could </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>33</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=7,SEQ=38,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=333051,FOLIO='33',FILE='DISK108:[13ZDI1.13ZDI16701]CI16701A.;56',USER='MTITUSS',CD='23-MAR-2015;14:38' -->
<A NAME="page_ci16701_1_34"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>restrict
our ability to withdraw capital from our broker-dealer subsidiaries. A significant operating loss or any unusually large charge against net capital could negatively impact our ability to
expand or even maintain our present levels of business. Similar issues and risks arise in connection with the capital adequacy requirements of foreign regulators. Any of these results could have a
material adverse effect on our business, financial condition and results of operations. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> We are subject to risks relating to litigation and potential securities law liability.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are exposed to substantial risks of liability under federal and state securities laws and other federal and state laws and court
decisions, as well as rules and regulations promulgated by the SEC, the CFTC, state securities regulators, SROs and foreign regulatory agencies. These risks may be enhanced by recent scrutiny
electronic trading and market structure from regulators, lawmakers and the financial news media. We are also subject to the risk of litigation and claims that may be without merit. From time to time,
we, our officers, directors and employees may be named in legal actions, regulatory investigations and proceedings, arbitrations and administrative claims and be subject to claims alleging the
violations of laws, rules and regulations, some of which may ultimately result in the payment of fines, awards, judgments and settlements. We could incur significant legal expenses in defending
ourselves against and resolving lawsuits or claims even if we believe them to be meritless. An adverse resolution of any future lawsuits or claims against us could result in a negative perception of
our Company and cause the market price of our common stock to decline or otherwise have a material adverse effect on our business, financial condition, results of operations and cash flows. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Proposed legislation in the European Union, the U.S. and other jurisdictions that would impose taxes on certain financial transactions could have a material adverse effect
on our business and financial results.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On February&nbsp;14, 2013, the European Commission tabled a proposal for a Council Directive to implement an enhanced cooperation
procedure among 11&nbsp;European Union Member States (Belgium, Germany, Estonia, Greece, Spain, France, Italy, Austria, Portugal, Slovenia and Slovakia) for the purposes of a financial transaction
tax among those Member States. Diplomats from the 11 EU member states had initially aimed to come to an agreement on the future European tax on financial transactions by the end of 2014; however,
consensus on the final terms is not likely to be reached until the middle of 2015, with the proposal being implemented not earlier than 2016. The exact terms of the process by which such a financial
transaction tax would be implemented are under consideration by the European Commission, but the envisioned tax would
broadly apply to transactions in financial instruments, including equities, certain derivatives and potentially some other financial instruments. In September 2013, the European Legal Service issued
an opinion questioning the legal validity of the European Commission's proposal, creating uncertainty as to the status of the proposal's implementation. Similarly, in 2013, U.S. Representative Peter
DeFazio and former Senator Thomas Harkin introduced proposed legislation, a bill entitled the "Wall Street Trading and Speculators Tax Act," which would have, subject to certain exceptions, imposed an
excise tax on the purchase of a security, including equities, bonds, debentures, other debt and interests in derivative financial instruments, if the purchase occured or was cleared on a trading
facility in the U.S. and the purchaser or seller is a U.S. person. More recently, U.S. Representative Chris Van Hollen presented an "action plan" that included a financial transaction fee. These
proposed transaction taxes would apply to certain aspects of our business and transactions in which we are involved. Any such tax would increase our cost of doing business to the extent that
(i)&nbsp;the tax is regularly applicable to transactions in the markets in which we operate, (ii)&nbsp;the tax does not include exceptions for market makers or market making activities that is
broad enough to cover our activities or (iii)&nbsp;we are unable to widen our bid/ask spreads in the markets in which such a tax would be applicable to compensate for its imposition. Furthermore,
the proposed taxes may reduce or negatively impact trading volume and transactions on which we are dependent for revenues. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>34</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=8,SEQ=39,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=565280,FOLIO='34',FILE='DISK108:[13ZDI1.13ZDI16701]CI16701A.;56',USER='MTITUSS',CD='23-MAR-2015;14:38' -->
<A NAME="page_ci16701_1_35"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>While
it is difficult to assess the impact the proposed taxes could have on us, if either transaction tax is implemented or any similar tax is implemented in any other jurisdiction in which we
operate, our business, financial condition, results of operations and cash flows could suffer a material adverse effect, and could be impacted to a greater degree than other market participants. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Failure to comply with laws and regulations applicable to our international operations may increase costs, reduce profits, limit growth or subject us to broader liability.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our business operations in countries outside the U.S. are subject to a number of laws and regulations, including restrictions imposed
by the Foreign Corrupt Practices Act (the "FCPA") and trade sanctions administered by the Office of Foreign Assets Control (the "OFAC"). The FCPA is intended to prohibit bribery of foreign officials
and requires companies whose securities are listed in the U.S. to keep books and records that accurately and fairly reflect those companies' transactions and to devise and maintain an adequate system
of internal accounting controls. The OFAC administers and enforces economic and trade sanctions based on U.S. foreign policy and national security goals against designated foreign states,
organizations and individuals. We have policies in place reasonably designed to comply with applicable OFAC sanctions, rules and regulations. In addition, some of our operations may be subject to laws
and regulations of non-U.S. jurisdictions containing prohibitions on bribery and other corrupt business activities. If we fail to comply with these laws and regulations, we could be exposed to claims
for
damages, financial penalties, reputational harm, incarceration of employees and restrictions on our operations and cash flows. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> We depend on our technology, and our future results may be negatively impacted if we cannot remain technologically competitive.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We believe that our success in the past has largely been attributable to our technology, which has taken many years to develop. If
technology equivalent to ours becomes more widely available for any reason, our operating results may be negatively impacted. Additionally, adoption or development of similar or more advanced
technologies by our competitors may require that we devote substantial resources to the development of more advanced technology to remain competitive. Regulators and exchanges may also introduce risk
control and other technological requirements on our business that could result in increased costs of compliance and divert our technological resources away from their primary strategy development and
maintenance duties. The markets in which we compete are characterized by rapidly changing technology, evolving industry standards and changing trading systems, practices and techniques. The widespread
adoption of new internet, networking or telecommunications technologies or other technological changes could require us to incur substantial expenditures to modify or adapt our services or
infrastructure. We may not be able to anticipate or respond adequately or in a cost-efficient and competitive manner to technological advancements (including advancements related to low-latency
technologies, execution and messaging speeds) or changing industry standards. If any of these risks materialize, it could have a material adverse effect on our business, financial condition, results
of operations and cash flows. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Our reliance on our computer systems and software could expose us to great financial harm if any of our computer systems or software were subject to any material disruption
or corruption.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We rely significantly on our computer systems and software to receive and properly process internal and external data and utilize such
data to generate orders and other messages. A disruption or corruption of the proper functioning of our computer systems or software could cause us to make erroneous trades, which could result in
material losses. We cannot guarantee that our efforts to maintain competitive computer systems and software will be successful. Our computer systems and software may fail or be subject to bugs or
other errors, resulting in service interruptions or other unintended consequences. If any of these risks materialize, they could have a material adverse effect on our business, financial condition,
results of operations and cash flows. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>35</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=9,SEQ=40,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=276754,FOLIO='35',FILE='DISK108:[13ZDI1.13ZDI16701]CI16701A.;56',USER='MTITUSS',CD='23-MAR-2015;14:38' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_ck16701_1_36"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->





<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->




<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT> <FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Our failure to protect our systems and network against cybersecurity breaches, or otherwise protect confidential and proprietary information, could damage our reputation and
negatively impact our business.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our cybersecurity measures may not detect or prevent all attempts to compromise our systems, including denial-of-service attacks,
viruses, malicious software, break-ins, phishing attacks, social engineering, security breaches or other attacks and similar disruptions that may jeopardize the security of information stored in and
transmitted by our systems or that we otherwise maintain. Breaches of our cybersecurity measures could result in any of the following: unauthorized access to our systems; unauthorized access to and
misappropriation of information or data, including confidential or proprietary information about ourselves, third parties with whom we do business or our proprietary systems; viruses, worms, spyware
or other malware being placed in our systems; deletion or modification of client information; or a denial-of-service or other interruptions to our business operations. Because techniques used to
obtain unauthorized access to or sabotage systems change frequently and may not be known until launched against us or our third-party service providers, we may be unable to anticipate these attacks or
to implement adequate preventative measures. While we have not suffered any material breach of our cybersecurity, any actual or perceived breach of our cybersecurity could damage our reputation,
expose us to a risk of loss or litigation and possible liability, require us to expend significant capital and other resources to alleviate problems caused by such breaches and otherwise have a
material adverse effect on our business, financial condition, results of operations and cash flows. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Capacity constraints, systems failures, malfunctions and delays could harm our business.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our business activities are heavily dependent on the integrity and performance of the computer and communications systems supporting
them. Our systems and operations are vulnerable to damage or interruption from human error, software bugs and errors, electronic and physical security breaches, natural disasters, power loss, utility
or internet outages, computer viruses, intentional acts of vandalism, terrorism and other similar events. Extraordinary trading volumes or other events could cause our computer systems to operate in
ways that we did not intend, at an unacceptably low speed or even fail. While we have invested significant amounts of capital to upgrade the capacity, reliability and scalability of our systems, there
can be no assurance that our systems will always operate properly or be sufficient to handle such extraordinary trading volumes. Any disruption for any reason in the proper functioning or any
corruption of our software or erroneous or corrupted data may cause us to make erroneous trades or suspend our services and could have a material adverse effect on our business, financial condition,
results of operations and cash flows. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Although
our systems and infrastructure are generally designed to accommodate additional growth without redesign or replacement; we may need to make significant investments in
additional hardware and software to accommodate growth. Failure to make necessary expansions and upgrades to our systems and infrastructure could not only limit our growth and business prospects but
could also cause substantial losses and have a material adverse effect on our business, financial condition, results of operations and cash flows. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Since
the timing and impact of disasters and disruptions are unpredictable, we may not be able to respond to actual events as they occur. Business disruptions can vary in their scope
and significance and can affect one or more of our facilities. Further, the severity of the disruption can also vary from minimal to severe. Although we have employed significant effort to develop,
implement and maintain reasonable disaster recovery and business continuity plans, we cannot guarantee that our systems will fully recover after a significant business disruption in a timely fashion
or at all. If we are prevented from using any of our current trading operations, or if our business continuity operations do not work effectively, we may not have complete business </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>36</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=41,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=912001,FOLIO='36',FILE='DISK108:[13ZDI1.13ZDI16701]CK16701A.;74',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_ck16701_1_37"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>continuity,
which could have a material adverse effect on our business, financial condition, results of operations and cash flows. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Failure or poor performance of third-party software, infrastructure or systems on which we rely could adversely affect our business.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We depend on third parties to provide and maintain certain infrastructure that is critical to our business. For example, we rely on
third parties to provide software, data center services and dedicated fiber optic, microwave, wireline and wireless communication infrastructure. This infrastructure may malfunction or fail due to
events outside of our control, which could disrupt our operations and have a material adverse effect on our business, financial condition and results of operations. Any failure to maintain and renew
our relationships with these third parties on commercially favorable terms, or to enter into similar relationships in the future, could have a material adverse effect on our business, financial
condition, results of operations and cash flows. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
also rely on certain third-party software, third-party computer systems and third-party service providers, including clearing systems, exchange systems, alternate trading systems,
order routing systems, internet service providers, communications facilities and other facilities. Any interruption in these third-party services or software, deterioration in their performance, or
other improper operation could interfere with our trading activities, cause losses due to erroneous or delayed responses, or otherwise be disruptive to our business. If our arrangements with any third
party are terminated, we may not be able to find an alternative source of software or systems support on a timely basis or on commercially reasonable terms. This could also have a material adverse
effect on our business, financial condition, results of operations and cash flows. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> The use of open source software may expose us to additional risks.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We use software development tools covered by open source licenses and may incorporate such open source software into our proprietary
software from time to time. "Open source software" refers to any code, shareware or other software that is made generally available to the public without requiring payment of fees or royalties and/or
that may require disclosure or licensing of any software that incorporates such source code, shareware or other software. Given the nature of open source software, third parties might assert
contractual or copyright and other intellectual property-related claims against us based on our use of such tools and software programs or might seek to compel the disclosure of the source code of our
software or other proprietary information. If any such claims materialize, we could be required to (i)&nbsp;seek licenses from third parties in order to continue to use such tools and software or to
continue to operate certain elements of our technology, (ii)&nbsp;release certain proprietary software code comprising our modifications to such open source software, (iii)&nbsp;make our software
available under the terms of an open source license or (iv)&nbsp;re-engineer all, or a portion of, that software, any of which could materially and adversely affect our business, financial condition
and results of operations. While we monitor the use of all open source software in our solutions, processes and technology and try to ensure that no open source software is used (i)&nbsp;in such a
way as to require us to disclose the source code to the related solution when we do not wish to do so nor (ii)&nbsp;in connection with critical or fundamental elements of our software or technology,
such use may have inadvertently occurred
in deploying our proprietary solutions. If a third-party software provider has incorporated certain types of open source software into software we license from such third party for our products and
solutions, we could, under certain circumstances, be required to disclose the source code to our solutions. In addition to risks related to license requirements, usage of open software can lead to
greater risks than use of third-party commercial software because open source licensors generally do not provide warranties or controls on the origin of the software. Many of the risks associated with
usage </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>37</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=42,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=888423,FOLIO='37',FILE='DISK108:[13ZDI1.13ZDI16701]CK16701A.;74',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_ck16701_1_38"> </A>


<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>of
open source software cannot be eliminated and could potentially have a material adverse effect on our business, financial condition, results of operations and cash flows. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> We may not be able to protect our intellectual property rights or may be prevented from using intellectual property necessary for our business.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We rely primarily on trade secret, trademark, domain name, copyright and contract law to protect our intellectual property and
proprietary technology. It is possible that third parties may copy or otherwise obtain and use our intellectual property or proprietary technology without authorization or otherwise infringe on our
rights. For example, while we have a policy of entering into confidentiality, intellectual property invention assignment and/or non-competition and non-solicitation agreements or restrictions with our
employees, independent contractors and business partners, such agreements may not provide adequate protection or may be breached, or our proprietary technology may otherwise become available to or be
independently developed by our competitors. Third parties have alleged and may in the future allege that we are infringing, misappropriating or otherwise violating their intellectual property rights.
Third parties may initiate litigation against us without warning, or may send us letters or other communications that make allegations without initiating litigation. We may elect not to respond to
these letters or other communications if we believe they are without merit, or we may attempt to resolve these disputes out of court by negotiating a license, but in either case it is possible that
such disputes will ultimately result in litigation. Any such claims could interfere with our ability to use technology or intellectual property that is material to the operation of our business. Such
claims may be made by competitors seeking to obtain a competitive advantage or by other parties, such as entities that purchase intellectual property assets for the purpose of bringing infringement
claims. We also periodically employ individuals who were previously employed by our competitors or potential competitors, and we may therefore be subject to claims that such employees have used or
disclosed the alleged trade secrets or other proprietary information of their former employers. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the future, we may have to rely on litigation to enforce our intellectual property rights, protect our trade secrets, determine the validity and scope of the proprietary rights of
others or defend against claims of infringement or invalidity. Any such litigation, whether successful or unsuccessful, could
result in substantial costs and the diversion of resources and the attention of management. If unsuccessful, such litigation could result in the loss of important intellectual property rights, require
us to pay substantial damages, subject us to injunctions that prevent us from using certain intellectual property, require us to make admissions that affect our reputation in the marketplace and
require us to enter into license agreements that may not be available on favorable terms or at all. Finally, even if we prevail in any litigation, the remedy may not be commercially meaningful or
fully compensate us for the harm we suffer or the costs we incur. Any of the foregoing could have a material adverse effect on our business, financial condition, results of operations and cash flows. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> We are exposed to risks associated with our international operations and expansion.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are exposed to risks and uncertainties inherent in doing business in international markets, particularly in the heavily regulated
broker-dealer industry. Such risks and uncertainties include political, economic and financial instability, unexpected changes in regulatory requirements, tariffs and other trade barriers, exchange
rate fluctuations, applicable currency controls, the imposition of restrictions on currency conversion or the transfer of funds, limitations on our ability to repatriate non-U.S. earnings in a tax
efficient manner and difficulties in staffing and managing foreign operations, including reliance on local experts. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, the varying compliance requirements of these different regulatory jurisdictions and other factors may limit our ability to successfully conduct or expand our business
internationally </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>38</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=43,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=927349,FOLIO='38',FILE='DISK108:[13ZDI1.13ZDI16701]CK16701A.;74',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_ck16701_1_39"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>and
may increase our costs of investment. Expansion into international locations involves substantial operational and execution risk. We may not be able to manage these costs or risks effectively. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Fluctuations in currency exchange rates could negatively impact our earnings.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A significant portion of our international business is conducted in currencies other than the U.S. dollar, and changes in foreign
exchange rates relative to the U.S. dollar can therefore affect the value of our non-U.S. dollar net assets, revenues and expenses. Although we closely monitor potential exposures as a result of these
fluctuations in currencies, and
where cost-justified we adopt strategies that are designed to reduce the impact of these fluctuations on our financial performance, including the financing of non-U.S. dollar assets with borrowings in
the same currency and the use of various hedging transactions related to net assets, revenues, expenses or cash flows, there can be no assurance that we will be successful in managing our foreign
exchange risk. Our exposure to currency exchange rate fluctuations will grow if the relative contribution of our operations outside the U.S. increases. Any material fluctuations in currencies could
have a material effect on our financial condition, results of operations and cash flows. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I> We may experience risks associated with future growth or expansion of our operations or acquisitions or dispositions of businesses, and we may never realize the anticipated
benefits of such activities.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As a part of our business strategy, we may make acquisitions or significant investments in and/or disposals of businesses. Any such
future acquisitions, investments and/or dispositions would be accompanied by risks such as difficulties in assimilating the operations and personnel of acquired companies or businesses, diversion of
our management's attention from ongoing business concerns, our potential inability to maximize our financial and strategic position through the successful incorporation or disposition of operations,
maintenance of uniform standards, controls, procedures and policies and the impairment of existing relationships with employees, contractors, suppliers and customers as a result of the integration of
new management personnel and cost-saving initiatives. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
cannot guarantee that we will be able to successfully integrate any company or business that we might acquire in the future, and our failure to do so could harm our current business. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, we may not realize the anticipated benefits of any such transactions, and there may be other unanticipated or unidentified effects. While we would seek protection, for
example, through warranties and indemnities in the case of acquisitions, significant liabilities may not be identified in due diligence or come to light after the expiration of warranty or indemnity
periods. Additionally, while we would seek to limit our ongoing exposure, for example, through liability caps and period limits on warranties and indemnities in the case of disposals, some warranties
and indemnities may give rise to unexpected and significant liabilities. If we fail to realize any such anticipated benefits, or if we experience any such unanticipated or unidentified effects in
connection with any future acquisitions, investments or dispositions, we could suffer a material adverse effect on our business, financial condition, results of operations and cash flows. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I> Our future efforts to sell shares of our common stock or raise additional capital may be delayed or prohibited by regulations.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As certain of our subsidiaries are members of FINRA and other SROs, we are subject to certain regulations regarding changes in
ownership or control and material changes in operations. For example, FINRA's NASD Rule&nbsp;1017 generally provides that FINRA approval must be obtained in connection with certain change of
ownership or control transactions, such as a transaction that </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>39</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=44,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=130854,FOLIO='39',FILE='DISK108:[13ZDI1.13ZDI16701]CK16701A.;74',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_ck16701_1_40"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>results
in a single entity or person owning 25% or more our equity. Similarly, Virtu Financial Ireland Limited, one of our Irish subsidiaries, is subject to change in control regulations promulgated
by the Central Bank of Ireland. As a result of these regulations, our future efforts to sell shares of our common stock or raise additional capital may be delayed or prohibited. We may be subject to
similar restrictions in other jurisdictions in which we operate. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> We are dependent on the continued service of certain key executives, the loss or diminished performance of whom could have a material adverse effect on our business.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our performance is substantially dependent on the performance of our senior management, including Mr.&nbsp;Viola, our Founder and
Executive Chairman, Mr.&nbsp;Cifu, our Chief Executive Officer and Mr.&nbsp;Molluso, our Chief Financial Officer. In connection with this offering, we intend to enter into employment and/or
severance protection agreements with certain members of our senior management team that will restrict their ability to compete with us should they decide to leave our Company. Even if we have entered
into these agreements, we cannot be sure that any member of our senior management will remain with us or that they will not compete with us in the future. The loss of any member of our senior
management team could impair our ability to execute our business plan and growth strategy and have a negative impact on our revenues, in addition to potentially causing employee morale problems and/or
the loss of key employees. In particular, Messrs.&nbsp;Viola and Cifu invest in other businesses and spend time on such matters, which could divert their attention from us. We contemplate that our
employment agreement with Mr.&nbsp;Cifu will specifically permit his participation in and attention to certain other business activities, including but not necessarily limited to his role as the
Vice Chairman and Alternate Governor of the Florida Panthers, a National Hockey League franchise, and his role as a director of the Independent Bank Group,&nbsp;Inc., a regional bank holding
company. We cannot guarantee that these or other permitted outside activities will not impact his performance as Chief Executive Officer. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Our success depends, in part, on our ability to identify, recruit and retain skilled management and technical personnel. If we fail to recruit and retain suitable candidates
or if our relationship with our employees changes or deteriorates, it could have a material adverse effect on our business.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our future success depends, in part, upon our continued ability to identify, attract, hire and retain highly qualified personnel,
including skilled technical, management, product and technology, trading, sales and marketing personnel, all of whom are in high demand and are often subject to competing offers. Competition for
qualified personnel in the financial services industry is intense and we cannot assure you that we will be able to hire or retain a sufficient number of qualified personnel to meet our requirements,
or that we will be able to do so at salary, benefit and other compensation costs that are acceptable to us or that would allow us to achieve operating results consistent with our historical results. A
loss of qualified employees, or an inability to attract, retain and motivate additional highly skilled employees in the future, could have a material adverse effect on our business. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I> We could lose significant sources of revenues if we were to lose access to an important exchange or other trading venue.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in applicable laws, regulations or rules promulgated by exchanges could conceivably prevent us from providing liquidity to an
exchange or other trading venue where we provide liquidity today. Though our revenues are diversified across exchanges and other trading venues, asset classes and geographies, the loss of access to
one or more significant exchanges and other trading venues for any reason could have a material adverse effect on our business, financial condition and results of operations. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>40</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=45,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=963240,FOLIO='40',FILE='DISK108:[13ZDI1.13ZDI16701]CK16701A.;74',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_ck16701_1_41"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Risks Related to Our Organization and Structure  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> We are a holding company and our principal asset after completion of this offering will be our equity interests in Virtu Financial, and we are accordingly dependent upon
distributions from Virtu Financial to pay dividends, if any, taxes and other expenses.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are a holding company and, upon completion of the reorganization transactions and this offering, our principal asset will be our
direct and indirect ownership of Virtu Financial Units. See "Organizational Structure." We have no independent means of generating revenue. As the sole managing member of Virtu Financial, we intend to
cause Virtu Financial to make distributions to its equityholders, including the Founder Post-IPO Member, the Silver Lake Post-IPO Members, Virtu Employee Holdco, the Management Members and us, in
amounts sufficient to fund dividends to our stockholders in accordance with our dividend policy and, as further described below, to cover all applicable taxes payable by us and any payments we are
obligated to make under the tax receivable agreements we intend to enter into as part of the reorganization transactions, but we are limited in our ability to cause Virtu Financial to make these and
other distributions to us (including for purposes of paying corporate and other overhead expenses and dividends) under our credit agreement. In addition, certain laws and regulations may result in
restrictions on Virtu Financial's ability to make distributions to its equityholders (including us), or the ability of its subsidiaries to make distributions to it. These include: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the SEC Net Capital Rule (Rule&nbsp;15c3-1) requires each of Virtu Financial's registered broker-dealer subsidiaries to
maintain specified levels of net capital; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>FINRA Rule&nbsp;4110 imposes a requirement of prior FINRA approval for any distribution by Virtu Financial's FINRA
member registered broker-dealer subsidiary in excess of 10% of its excess net capital; and</FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Virtu Financial's regulated Irish subsidiary must obtain prior approval from the Central Bank of Ireland for any
distribution or dividend. </FONT></DD></DL>
</UL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the extent that we need funds and Virtu Financial is restricted from making such distributions to us, under applicable law or regulation, as a result of covenants in our credit
agreement or otherwise, we may not be able to obtain such funds on terms acceptable to us or at all and as a result could suffer a material adverse effect on our liquidity and financial condition. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Following
the consummation of this offering, before any other distributions are made to us and the Virtu Post-IPO Members by Virtu Financial, Virtu Financial will distribute to certain
Virtu Pre-IPO Members as of a record date prior to the commencement of the reorganization transactions, pro rata in accordance with their respective interests in classes of equity entitled to
participate in operating cash flow distributions, operating cash flow of Virtu Financial and its subsidiaries for the fiscal period beginning on January&nbsp;1, 2015 and ending on the date of the
consummation of the reorganization transactions, less any reserves established during this period and less any operating cash flow for this period previously distributed to such Virtu Pre-IPO Members.
We expect this distribution will be funded from cash on hand. See "Dividend Policy." </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under
the Third Amended and Restated Limited Liability Company Agreement of Virtu Financial (the "Amended and Restated Virtu Financial&nbsp;LLC Agreement"), we expect Virtu Financial
from time to time to make pro rata distributions in cash to its equityholders, including the Founder Post-IPO Member, the Silver Lake Post-IPO Members, the Management Vehicles, Virtu Employee Holdco
and us, in amounts sufficient to cover the taxes on their allocable share of the taxable income of Virtu Financial. As a result of (i)&nbsp;potential differences in the amount of net taxable income
allocable to us and to Virtu Financial's other equityholders, (ii)&nbsp;the lower tax rate applicable to corporations than individuals and (iii)&nbsp;the favorable tax benefits that we anticipate
from (a)&nbsp;the exchange of Virtu Financial Units and corresponding shares of Class&nbsp;C common stock or Class&nbsp;D </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>41</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=46,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=1031694,FOLIO='41',FILE='DISK108:[13ZDI1.13ZDI16701]CK16701A.;74',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_ck16701_1_42"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>common
stock, (b)&nbsp;payments under the tax receivable agreements and (c)&nbsp;future deductions attributable to the prior acquisition of interests in Virtu Financial by an affiliate of Silver
Lake Partners and Temasek, and the Temasek Pre-IPO Member, we expect that these tax distributions will be in amounts that exceed our tax liabilities. Our board of directors will determine the
appropriate uses for any excess cash so accumulated, which may include, among other uses, the payment of obligations under the tax receivable agreements and the payment of other expenses. We will have
no obligation to distribute such cash (or other available cash) to our shareholders. No adjustments to the exchange ratio for Virtu Financial Units and corresponding shares of common stock will be
made as a result of any cash distribution by us or any retention of cash by us, and in any event the ratio will remain one-to-one. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> We are controlled by the Founder Post-IPO Member, whose interests in our business may be different than yours, and certain statutory provisions afforded to stockholders are
not applicable to us.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on an assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated public offering price
range set forth on the cover page of this prospectus), the Founder Post-IPO Member will control approximately&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the combined voting
power of our common stock (or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% if the underwriters exercise their option to purchase additional shares in full) after the completion of this offering and the application of the net
proceeds from this offering as a result of its ownership of our Class&nbsp;D common stock, each share of which is entitled to 10 votes on all matters submitted to a vote of our stockholders. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Founder Post-IPO Member will have the ability to substantially control our Company, including the ability to control any action requiring the general approval of our stockholders,
including the election of our board of directors, the adoption of amendments to our certificate of incorporation and by-laws and the approval of any merger or sale of substantially all of our assets.
This concentration of ownership and voting power may also delay, defer or even prevent an acquisition by a third party or other change of control of our Company and may make some transactions more
difficult or impossible without the support of the Founder Post-IPO Member, even if such events are in the best interests of minority stockholders. This concentration of voting power with the Founder
Post-IPO Member may have a negative impact on the price of our Class&nbsp;A common stock. In addition, because shares of our Class&nbsp;B common stock and Class&nbsp;D common stock each have 10
votes per share on matters submitted to a vote of our stockholders, the Founder Post-IPO Member will be able to control our Company as long as it owns at least 25% of our issued and outstanding common
stock. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Founder Post-IPO Member's interests may not be fully aligned with yours, which could lead to actions that are not in your best interest. Because the Founder Post-IPO Member holds
part of its economic interest in our business through Virtu Financial, rather than through the public company, it may have conflicting interests with holders of shares of our Class&nbsp;A common
stock. For example, the Founder Post-IPO Member may have a different tax position from us, which could influence its decisions regarding whether and when we should dispose of assets or incur new or
refinance existing indebtedness, especially in light of the existence of the tax receivable agreements that we will enter into in connection with this offering, and whether and when we should undergo
certain changes of control within the meaning of the tax receivable agreements or terminate the tax receivable agreements. In addition, the structuring of future transactions may take into
consideration these tax or other considerations even where no similar benefit would accrue to us. See "Certain Relationships and Related Party Transactions&nbsp;&#151; Tax Receivable
Agreements." In addition, pursuant to the Exchange Agreement described under "Certain Relationships and Related Party Transactions&nbsp;&#151; Exchange Agreement," the holders of Virtu
Financial Units and shares of our Class&nbsp;C common stock or Class&nbsp;D common stock will not be required to participate in a proposed </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>42</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=7,SEQ=47,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=885595,FOLIO='42',FILE='DISK108:[13ZDI1.13ZDI16701]CK16701A.;74',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_ck16701_1_43"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>sale
of our Company that is tax-free for our stockholders unless the transaction is also tax-free for such holders of Virtu Financial Units and shares of our Class&nbsp;C common stock or
Class&nbsp;D common stock. This requirement could limit structural alternatives available to us in any such proposed transaction and could have the effect of discouraging transactions that might
benefit you as a holder of shares of our Class&nbsp;A common stock. See "Certain Relationships and Related Party Transactions&nbsp;&#151; Exchange Agreement." In addition, the Founder
Post-IPO Member's
significant ownership in us and resulting ability to effectively control us may discourage someone from making a significant equity investment in us, or could discourage transactions involving a
change in control, including transactions in which you as a holder of shares of our Class&nbsp;A common stock might otherwise receive a premium for your shares over the then-current market price. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
have opted out of Section&nbsp;203 of the General Corporation Law of the State of Delaware (the "Delaware General Corporation Law"), which prohibits a publicly held Delaware
corporation from engaging in a business combination transaction with an interested stockholder for a period of three years after the interested stockholder became such unless the transaction fits
within an applicable exemption, such as board approval of the business combination or the transaction which resulted in such stockholder becoming an interested stockholder. Therefore, after the
180-day lock-up period expires, the Founder Post-IPO Member will be able to transfer control of us to a third party by transferring its shares of our common stock (subject to certain restrictions and
limitations), which would not require the approval of our board of directors or our other stockholders. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
amended and restated certificate of incorporation will provide that, to the fullest extent permitted by law, the doctrine of "corporate opportunity" will not apply against the
Founder Post-IPO Member, Mr.&nbsp;Viola, the Silver Lake Equityholders, the Temasek Post-IPO Stockholder, any of our non-employee directors or any of their respective affiliates in a manner that
would prohibit them from investing in competing businesses or doing business with our clients or customers. In addition, subject to the restrictions on competitive activities described below,
Mr.&nbsp;Cifu will be permitted to become engaged in, or provide services to, any other business or activity in which Mr.&nbsp;Viola is currently engaged or permitted to become engaged, to the
extent that Mr.&nbsp;Cifu's level of participation in such businesses or activities is consistent with his current participation in such businesses and activities. The Amended and Restated Virtu
Financial&nbsp;LLC Agreement will provide that Mr.&nbsp;Viola, in addition to our other executive officers and our employees that are Virtu Post-IPO Members, including Mr.&nbsp;Cifu, may not
directly or indirectly engage in certain competitive activities until the third anniversary of the date on which such person ceases to be an officer, director or employee of ours. The Silver Lake
Equityholders, the Temasek Post-IPO Stockholder and our non-employee directors are not subject to any such restriction. See "Certain Relationships and Related Party Transactions&nbsp;&#151;
Amended and Restated Virtu Financial Limited Liability Company Agreement." To the extent that the Founder Post-IPO Member, Mr.&nbsp;Viola, the Silver Lake Equityholders, the Temasek Post-IPO
Stockholder, our non-employee directors or any of their respective affiliates invests in other businesses, they may have differing interests than our other stockholders. Messrs.&nbsp;Viola and Cifu
have business relationships outside of our business. See "Certain Relationships and Related Party Transactions &#151; Other Transactions." </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
additional information regarding the share ownership of, and our relationship with, the Founder Post-IPO Member, the Silver Lake Equityholders and the Temasek Post-IPO Stockholder,
you should read the information under the headings "Principal Stockholders" and "Certain Relationships and Related Party Transactions." </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> We have a substantial amount of indebtedness, which could negatively impact our business and financial condition.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As of December 31, 2014, we had an aggregate of $502.7&nbsp;million outstanding indebtedness under our senior secured credit
facility. If we cannot generate sufficient cash flow from operations to service our debt, we may need to refinance our debt, dispose of assets or issue equity to obtain </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>43</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=8,SEQ=48,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=712057,FOLIO='43',FILE='DISK108:[13ZDI1.13ZDI16701]CK16701A.;74',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_ck16701_1_44"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>necessary
funds. We do not know whether we will be able to take any of such actions on a timely basis, on terms satisfactory to us or at all. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
substantial amount of indebtedness could limit our ability to obtain necessary additional financing for working capital, capital expenditures or other purposes in the future, plan
for or react to changes in our business and the industries in which we operate, make future acquisitions or pursue other business opportunities and react in an extended economic downturn. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Despite
our substantial indebtedness, we may still be able to incur significantly more debt. The incurrence of additional debt could increase the risks associated with our substantial
leverage, including our ability to service our indebtedness. In addition, because borrowings under our senior secured credit facility bear interest at a variable rate, our interest expense could
increase, exacerbating these risks. For instance, assuming an aggregate principal balance of $502.7&nbsp;million outstanding under our senior secured credit facility, which was the amount
outstanding as of December&nbsp;31, 2014, a 1% increase in the interest rate we are charged on our debt would increase our annual interest expense by $5.03&nbsp;million. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, the covenants in our credit agreement may negatively impact our ability to finance future operations or capital needs or to engage in other business activities. Our credit
agreement requires us to maintain specified financial ratios and tests, including interest coverage and total leverage ratios, which may require us to take action to reduce our debt or to act in a
manner contrary to our business objectives. Our credit agreement also restricts our ability to, among other things, incur additional indebtedness, dispose of assets, guarantee debt obligations, repay
other indebtedness, pay dividends, pledge assets, make investments, including in certain of our operating subsidiaries, make acquisitions or consummate mergers or consolidations and engage in certain
transactions with subsidiaries and affiliates. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
failure to comply with the restrictions contained in our credit agreement could lead to an event of default, which could result in an acceleration of our indebtedness. Our future
operating results may not be sufficient to enable compliance with the covenants in our credit agreement or to remedy such a default. In addition, in the event of an acceleration, we may not have or be
able to obtain sufficient funds to refinance our indebtedness or to make any accelerated payments. Even if we were able to obtain new financing, we would not be able to guarantee that the new
financing would be on commercially reasonable terms. If we default on our indebtedness, our business, financial condition and results of operation could suffer a material adverse effect. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> We will be exempt from certain corporate governance requirements since we will be a "controlled company" within the meaning of the NASDAQ rules, and as a result our
stockholders will not have the protections afforded by these corporate governance requirements.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Founder Post-IPO Member will continue to control more than 50% of our combined voting power upon the completion of this offering.
As a result, we will be considered a "controlled company" for the purposes of NASDAQ rules and corporate governance standards, and therefore we will be permitted to, and we intend to, elect not to
comply with certain NASDAQ corporate governance requirements, including those that would otherwise require our board of directors to have a majority of independent directors and require that we either
establish a Compensation and Nominating and Corporate Governance Committees, each comprised entirely of independent directors, or otherwise ensure that the compensation of our executive officers and
nominees for directors are determined or recommended to the board of directors by the independent members of the board of directors. Accordingly, holders of our Class&nbsp;A common stock will not
have the same protections afforded to stockholders of companies that are subject to all of the NASDAQ rules and corporate governance standards, and the ability of our independent directors to
influence our business policies and affairs may be reduced. See "Management&nbsp;&#151; Controlled Company." </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>44</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=9,SEQ=49,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=321322,FOLIO='44',FILE='DISK108:[13ZDI1.13ZDI16701]CK16701A.;74',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_cm16701_1_45"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->





<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->




<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT> <FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> We will be required to pay the Virtu Post-IPO Members and the Investor Post-IPO Stockholders for certain tax benefits we may claim, and the amounts we may pay could be
significant.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the reorganization transactions, we will acquire equity interests in Virtu Financial from an affiliate of Silver
Lake Partners and Temasek, and the Temasek Pre-IPO Member in the Mergers. In addition, as described under "Use of Proceeds," we intend to use a portion of the net proceeds from this offering to
purchase Virtu Financial Units and corresponding shares of Class&nbsp;C common stock or Class&nbsp;D common stock from certain Virtu Post-IPO Members, including the Silver Lake Post-IPO Members,
certain members of management and, if the underwriters exercise their option to purchase additional shares, the Founder Post-IPO Member. These acquisitions of interests in Virtu Financial will result
in tax basis adjustments to the assets of Virtu Financial that will be allocated to us and our subsidiaries. In addition, future exchanges by the Virtu Post-IPO Members of Virtu Financial Units and
corresponding shares of Class&nbsp;C common stock or Class&nbsp;D common stock, as the case may be, for shares of our Class&nbsp;A common stock or Class&nbsp;B common stock, respectively, are
expected to produce favorable tax attributes. These tax attributes would not be available to us in the absence of those transactions. Both the existing and anticipated tax basis adjustments are
expected to reduce the amount of tax that we would otherwise be required to pay in the future. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
intend to enter into three tax receivable agreements with the Virtu Post-IPO Members and the Investor Post-IPO Stockholders (one with the Founder Post-IPO Member, the Management
Vehicles, Virtu Employee Holdco and other post-IPO investors, other than affiliates of Silver Lake Partners and affiliates of Temasek, another with the Investor Post-IPO Stockholders and the other
with the Silver Lake Post-IPO Members) that will provide for the payment by us to the Virtu Post-IPO Members and the Investor Post-IPO Stockholders (or their transferees of Virtu Financial Units or
other assignees) of 85% of the amount of cash savings, if any, in U.S. federal, state and local income tax or franchise tax that we actually realize as a result of (i)&nbsp;any increase in tax basis
in Virtu Financial's assets resulting from (a)&nbsp;the acquisition of equity interests in Virtu Financial from an affiliate of Silver Lake Partners and Temasek, and the Temasek Pre-IPO Member in
the reorganization transactions (which represents the unamortized portion of the increase in tax basis in Virtu Financial's assets resulting from a prior acquisition of interests in Virtu Financial by
an affiliate of Silver Lake Partners and Temasek, and the Temasek Pre-IPO Member), (b)&nbsp;the purchases of Virtu Financial Units (along with the corresponding shares of our Class&nbsp;C common
stock or Class&nbsp;D common stock, as applicable) from certain of the Virtu Post-IPO Members using a portion of the net proceeds from this offering or in any future offering, (c)&nbsp;exchanges
by the Virtu Post-IPO Members of Virtu Financial Units (along with the corresponding shares of our Class&nbsp;C common stock or Class&nbsp;D common stock, as applicable) for shares of our
Class&nbsp;A common stock or Class&nbsp;B common stock, as applicable, or (d)&nbsp;payments under the tax receivable agreements, (ii)&nbsp;any net operating losses available to us as a result
of the Mergers and (iii)&nbsp;tax benefits related to imputed interest deemed arising as a result of payments made under the tax receivable agreements. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
actual increase in tax basis, as well as the amount and timing of any payments under these tax receivable agreements, will vary depending upon a number of factors, including the
timing of exchanges by the Virtu Post-IPO Members, the price of our Class&nbsp;A common stock at the time of the exchange, the extent to which such exchanges are taxable, the amount and timing of
the taxable income we generate in the future and the tax rate then applicable and the portion of our payments under the tax receivable agreements constituting imputed interest. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
payments we will be required to make under the tax receivable agreements could be substantial. We expect that, as a result of the amount of the increases in the tax basis of the
tangible and intangible assets of Virtu Financial, assuming no material changes in the relevant tax law and that we earn sufficient taxable income to realize in full the potential tax benefits
described above, future payments to the Virtu Post-IPO Members and the Investor Post-IPO Stockholders in </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>45</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=50,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=484499,FOLIO='45',FILE='DISK108:[13ZDI1.13ZDI16701]CM16701A.;100',USER='LBURNET',CD='23-MAR-2015;13:06' -->
<A NAME="page_cm16701_1_46"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>respect
of the purchases, the exchanges and the Mergers will aggregate approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million and range from approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million to
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million per year over the next 15&nbsp;years (or $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million and range from approximately
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million to $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million
per year over the next 15&nbsp;years if the underwriters exercise in full their option to purchase additional Class&nbsp;A common stock). Future payments under the tax receivable agreements in
respect of subsequent exchanges would be in addition to these amounts and are expected to be substantial. The payments under the tax receivable agreements are not
conditioned upon the Virtu Post-IPO Members' or the Investor Post-IPO Stockholders' continued ownership of us. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, although we are not aware of any issue that would cause the Internal Revenue Service (the "IRS") to challenge the tax basis increases or other benefits arising under the
tax receivable agreements, the Virtu Post-IPO Members and the Investor Post-IPO Stockholders (or their transferees or other assignees) will not reimburse us for any payments previously made if such
tax basis increases or other tax benefits are subsequently disallowed, except that any excess payments made to the Virtu Post-IPO Members and the Investor Post-IPO Stockholders will be netted against
future payments otherwise to be made under the tax receivable agreements, if any, after our determination of such excess. As a result, in such circumstances we could make payments to the Virtu
Post-IPO Members and the Investor Post-IPO Stockholders under the tax receivable agreements that are greater than our actual cash tax savings and may not be able to recoup those payments, which could
negatively impact our liquidity. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, the tax receivable agreements provide that, upon certain mergers, asset sales or other forms of business combination, or certain other changes of control, our or our
successor's obligations with respect to tax benefits would be based on certain assumptions, including that we or our successor would have sufficient taxable income to fully utilize the increased tax
deductions and tax basis and other benefits covered by the tax receivable agreements. As a result, upon a change of control, we could be required to make payments under a tax receivable agreement that
are greater than the specified percentage of our actual cash tax savings, which could negatively impact our liquidity. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, the tax receivable agreements will provide that in the case of a change in control of the Company, the Virtu Post-IPO Members and the Investor Post-IPO Stockholders will
have the option to terminate the applicable tax receivable agreement, and we will be required to make a payment to such electing party in an amount equal to the present value of future payments
(calculated using a discount rate equal to the lesser of 6.5% or LIBOR plus 100 basis points, which may differ from our, or a potential acquirer's, then-current cost of capital) under the tax
receivable agreement, which payment would be based on certain assumptions, including those relating to our future taxable income. In these situations, our obligations under the tax receivable
agreements could have a substantial negative impact on our, or a potential acquirer's, liquidity and could have the effect of delaying, deferring, modifying or preventing certain mergers, asset sales,
other forms of business combinations or other changes of control. These provisions of the tax receivable agreements may result in situations where the Virtu Post-IPO Members and the Investor Post-IPO
Stockholders have interests that differ from or are in addition to those of our other shareholders. In addition, we could be required to make payments under the tax receivable agreements that are
substantial and in excess of our, or a potential acquirer's, actual cash savings in income tax. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Finally,
because we are a holding company with no operations of our own, our ability to make payments under the tax receivable agreements are dependent on the ability of our
subsidiaries to make distributions to us. Our credit agreement restricts the ability of our subsidiaries to make distributions to us, which could affect our ability to make payments under the tax
receivable agreements. To the extent that we are unable to make payments under the tax receivable agreements for any reason, such payments will be deferred and will accrue interest until paid, </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>46</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=51,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=28581,FOLIO='46',FILE='DISK108:[13ZDI1.13ZDI16701]CM16701A.;100',USER='LBURNET',CD='23-MAR-2015;13:06' -->
<A NAME="page_cm16701_1_47"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>which
could negatively impact our results of operations and could also affect our liquidity in periods in which such payments are made. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> Risks Related to this Offering and Our Class&nbsp;A Common Stock  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Substantial future sales of shares of our Class&nbsp;A common stock in the public market could cause our stock price to fall.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the consummation of this offering, we will have&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock (or
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares if the underwriters exercise their option to purchase additional shares in full) outstanding,
excluding&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock
underlying outstanding stock options and restricted stock units and, based on an assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated public offering price
range set forth on the cover page of this prospectus),&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock issuable upon potential exchanges and/or conversions. Of these shares,
the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
shares sold in this offering (or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares if the underwriters exercise their option to purchase additional shares in full) will be freely tradable without further restriction under the
Securities Act. Upon the completion of this offering, the remaining&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;outstanding shares of Class&nbsp;A common stock, including shares issuable upon exchange and/or conversion (or
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares if the underwriters exercise their option to purchase additional shares in full), will be deemed "restricted securities," as that term is defined under Rule&nbsp;144 of the
Securities Act. Immediately following the consummation of this offering, the holders of these remaining&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our Class&nbsp;A common stock, including shares issuable upon
exchange or conversion as described above (or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares if the underwriters exercise their option to purchase additional shares in full) will be entitled to dispose of their shares
following the expiration of an initial 180-day underwriter "lock-up" period pursuant to (i)&nbsp;the applicable holding period, volume and other restrictions of Rule&nbsp;144 or
(ii)&nbsp;another exemption from registration under the Securities Act. See "Shares Available for Future Sale." </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
intend to file&nbsp;a registration statement under the Securities Act registering&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our Class&nbsp;A common stock reserved for issuance under our 2015
Management Incentive Plan, and we will enter into the Registration Rights Agreement pursuant to which we will grant demand and piggyback registration rights to the Founder Post-IPO Member, the Silver
Lake Equityholders and the Temasek Post-IPO Stockholder and piggyback registration rights to certain of the other Virtu Post-IPO
Members. See "Shares Available for Future Sale" for a more detailed description of the shares that will be available for future sale upon completion of this offering. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Failure to establish and maintain effective internal control over financial reporting could have a material adverse effect on our business, financial condition, results of
operations and stock price.  </I></B></FONT></P>

<P style="font-family:arial;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maintaining effective internal control over financial reporting is necessary for us to produce reliable financial reports and is
important in helping to prevent financial fraud. If we are unable to maintain adequate internal controls, our business and operating results could be harmed. We have begun to evaluate how to document
and test our internal control procedures to satisfy the requirements of Section&nbsp;404 of the Sarbanes-Oxley Act of 2002 ("Sarbanes-Oxley") and the related rules of the SEC, which require, among
other things, our management to assess annually the effectiveness of our internal control over financial reporting and, if we are no longer an emerging growth company under the Jumpstart Our Business
Startups Act (the "JOBS Act"), our independent registered public accounting firm to issue a report on that assessment beginning with our Annual Report on Form&nbsp;10-K for the year ending
December&nbsp;31, 2016. During the course of this documentation and testing, we may identify weaknesses or deficiencies that we may be unable to remedy before the requisite deadline for those
reports. For the year ended December&nbsp;31, 2013, we and our independent registered public accounting firm identified a material weakness in our internal

 </FONT>

</P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>47</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=52,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=1040107,FOLIO='47',FILE='DISK108:[13ZDI1.13ZDI16701]CM16701A.;100',USER='LBURNET',CD='23-MAR-2015;13:06' -->
<A NAME="page_cm16701_1_48"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>


controls over financial reporting. This material weakness related to our inability to prepare accurate financial statements, resulting from a lack of reconciliations, a lack of detailed review and
insufficient resources and level of technical accounting expertise within the accounting function. To address this material weakness, we hired senior accounting and finance employees, reallocated
existing internal resources and retained third-party consultants to help enhance our internal controls over financial reporting following reviews of our accounting and finance function conducted by
members of senior management and by a third-party consultant. Although no material weakness was identified for the year ended December&nbsp;31, 2014, there can be no assurance that we will avoid
future weaknesses or deficiencies. Any future weaknesses or deficiencies or any failure to implement required new or improved controls or difficulties encountered in their implementation could cause
us to fail to meet our reporting obligations or result in material misstatements in our financial statements. If our management or our independent registered public accounting firm were to conclude in
their reports that our internal control over financial reporting was not effective, investors could lose confidence in our reported financial information, and the trading price of our Class&nbsp;A
common stock could drop significantly. Failure to comply with Section&nbsp;404 of Sarbanes-Oxley could potentially subject us to sanctions or investigations by the SEC, FINRA or other regulatory
authorities, as well as increasing the risk of liability arising from litigation based on securities law.

 </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> We intend to pay regular dividends to our stockholders, but our ability to do so may be limited by our holding company structure, contractual restrictions and regulatory
requirements.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After the consummation of this offering, we intend to pay cash dividends on a quarterly basis. See "Dividend Policy." However, we are
a holding company, with our principal asset after the consummation of this offering being our direct and indirect equity interests in Virtu Financial, and we will have no independent means of
generating revenue. Accordingly, as the sole managing member of Virtu Financial, we intend to cause, and will rely on, Virtu Financial to make distributions to its equityholders, including the Founder
Post-IPO Member, the Silver Lake Post-IPO Members, the Management Vehicles, Virtu Employee Holdco and us, to fund our dividends. When Virtu Financial makes such distributions, the other equityholders
of Virtu Financial will be entitled to receive equivalent distributions pro rata based on their economic interests in Virtu Financial. See "Organizational Structure." In order for Virtu Financial to
make distributions, it may need to receive distributions from its subsidiaries. Certain of these subsidiaries are or may in the future be subject to regulatory capital requirements that limit the size
or frequency of distributions. See "&nbsp;&#151; Risks Related to Our Business&nbsp;&#151; Failure to comply with applicable regulatory capital requirements could subject us to
sanctions imposed by the SEC, FINRA and other SROs or regulatory bodies." If Virtu Financial is unable to cause these subsidiaries to make distributions, we may not receive adequate distributions from
Virtu Financial in order to fund our dividends. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
board of directors will periodically review the cash generated from our business and the capital expenditures required to finance our global growth plans and determine whether to
modify the amount of regular dividends and/or declare periodic special dividends to our stockholders. Our board of directors will take into account general economic and business conditions, including
our financial condition and results of operations, capital requirements, contractual restrictions, including restrictions contained in our credit agreement, business prospects and other factors that
our board of directors considers relevant. There can be no assurance that our board of directors will not reduce the amount of regular cash dividends or cause us to cease paying dividends altogether.
In addition, our credit agreement limits the amount of distributions our subsidiaries, including Virtu Financial, can make to us and the purposes for which distributions could be made. Accordingly, we
may not be able to pay dividends even if our board of directors would otherwise deem it appropriate. See "Management's Discussion and Analysis of Financial Condition and Results of
Operations&nbsp;&#151; Liquidity and Capital Resources" and "Description of Capital Stock." </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>48</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=53,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=751281,FOLIO='48',FILE='DISK108:[13ZDI1.13ZDI16701]CM16701A.;100',USER='LBURNET',CD='23-MAR-2015;13:06' -->
<A NAME="page_cm16701_1_49"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Provisions in our charter documents and certain rules imposed by regulatory authorities may delay or prevent our acquisition by a third party.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our amended and restated certificate of incorporation and by-laws will contain several provisions that may make it more difficult or
expensive for a third party to acquire control of us without the approval of our board of directors. These provisions, which may delay, prevent or deter a merger, acquisition, tender offer, proxy
contest or other transaction that stockholders may consider favorable, include the following, some of which may only become effective when the Founder Post-IPO Member or any of its affiliates or
permitted transferees no longer beneficially own shares representing 25% of our issued and outstanding common stock (the "Triggering Event"):</FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the 10 vote per share feature of our Class&nbsp;B common stock and Class&nbsp;D common stock; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the division of our board of directors into three classes and the election of each class for three-year terms; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the sole ability of the board of directors to fill a vacancy created by the expansion of the board of directors; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>advance notice requirements for stockholder proposals and director nominations; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>after the Triggering Event, provisions limiting stockholders ability to call special meetings of stockholders, to require
special meetings of stockholders to be called and to take action by written consent; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>after the Triggering Event, in certain cases, the approval of holders of at least 75% of the shares entitled to vote
generally on the making, alteration, amendment or repeal of our certificate of incorporation or by-laws will be required to adopt, amend or repeal our by-laws, or amend or repeal certain provisions of
our certificate of incorporation; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>after the Triggering Event, the required approval of holders of at least 75% of the shares entitled to vote at an election
of the directors to remove directors, which removal may only be for cause; and </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the ability of our board of directors to designate the terms of and issue new series of preferred stock without
stockholder approval, which could be used, among other things, to institute a rights plan that would have the effect of significantly diluting the stock ownership of a potential hostile acquirer,
likely preventing acquisitions that have not been approved by our board of directors. </FONT></DD></DL>
</UL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These
provisions of our amended and restated certificate of incorporation and by-laws could discourage potential takeover attempts and reduce the price that investors might be willing
to pay for shares of our Class&nbsp;A common stock in the future, which could reduce the market price of our Class&nbsp;A common stock. For more information, see "Description of Capital Stock." </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, a third party attempting to acquire us or a substantial position in our Class&nbsp;A common stock may be delayed or ultimately prevented from doing so by change in
ownership or control regulations to which certain of our regulated subsidiaries are subject. FINRA's NASD Rule&nbsp;1017 generally provides that FINRA approval must be obtained in connection with
any transaction resulting in a single person or entity owning, directly or indirectly, 25% or more of a member firm's equity and would include a change in control of a parent company. Similarly, Virtu
Financial Ireland Limited is subject to change in control regulations promulgated by the Central Bank of Ireland. We may also be subject to similar restrictions in other jurisdictions in which we
operate. These regulations could discourage potential takeover attempts and reduce the price that investors might be willing to pay for shares of our Class&nbsp;A common stock in the future, which
could reduce the market price of our Class&nbsp;A common stock. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>49</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=54,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=1040894,FOLIO='49',FILE='DISK108:[13ZDI1.13ZDI16701]CM16701A.;100',USER='LBURNET',CD='23-MAR-2015;13:06' -->
<A NAME="page_cm16701_1_50"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Our stock price may be volatile, and you may be unable to resell your shares at or above the offering price or at all.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to this offering, there has been no public market for our Class&nbsp;A common stock, and an active trading market may not
develop or be sustained upon the completion of this offering. The initial public offering price of the Class&nbsp;A common stock offered hereby was determined through our negotiations with the
underwriters and may not be indicative of the market price of the Class&nbsp;A common stock after this offering. The market price of our Class&nbsp;A common stock after this offering will be
subject to significant fluctuations in response to, among other factors, variations in our operating results and market conditions specific to our business. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Furthermore,
in recent years the stock market has experienced significant price and volume fluctuations. This volatility has had a significant impact on the market price of securities
issued by many companies, including companies in our industry. The changes frequently appear to occur without regard to the operating performance of the affected companies. As such, the price of our
Class&nbsp;A common stock could fluctuate based upon factors that have little or nothing to do with us, and these fluctuations could materially reduce the price of our Class&nbsp;A common stock
and materially affect the value of your investment. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Because the initial public offering price per share of Class&nbsp;A common stock is substantially higher than our book value per share, purchasers in this offering will
immediately experience a substantial dilution in net tangible book value.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchasers of our Class&nbsp;A common stock will experience immediate and substantial dilution in net tangible book value per share
from the initial public offering price per share. After giving effect to the reorganization transactions, our entry into the tax receivable agreements, the sale of the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of
Class&nbsp;A common stock we have offered hereby (after deducting underwriting discounts and commissions and estimated offering expenses payable by us) and the application of the net proceeds
therefrom, our pro forma net tangible book value as of December&nbsp;31, 2014, would have been a deficit of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million, or
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share of Class&nbsp;A common
stock and Class&nbsp;B common stock (assuming that the Virtu Post-IPO Members exchange all of their Virtu Financial Units (and corresponding shares of Class&nbsp;C common stock or Class&nbsp;D
common stock, as applicable) for shares of our Class&nbsp;A common stock and Class&nbsp;B common stock, as applicable, on a one-for-one basis). This value represents an immediate dilution in net
tangible book value of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share to new investors purchasing shares of our Class&nbsp;A common stock in this offering. A calculation of the dilution purchasers will incur is provided
below under "Dilution." </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> We will incur increased costs as a result of being a public company.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As a public company, we will incur significant levels of legal, accounting and other expenses that we did not incur as a
privately-owned corporation. Sarbanes-Oxley and related rules of the SEC, together with the listing requirements of NASDAQ, impose significant requirements relating to disclosure controls and
procedures and internal control over financial reporting. We expect that compliance with these public company requirements will increase our costs, require additional resources and make some
activities more time consuming than they have been in the past when we were privately owned. We will be required to expend considerable time and resources complying with public company regulations. In
addition, these laws and regulations could make it more difficult or costly for us to obtain certain types of insurance, including director and officer liability insurance, and we may be forced to
accept reduced policy limits and coverage or incur substantially higher costs to obtain the same or similar coverage. In addition, these laws and regulations could make it more difficult for us to
attract and retain qualified persons to serve on our board of directors or as executive officers and may divert management's attention. Furthermore, if </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>50</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=55,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=459222,FOLIO='50',FILE='DISK108:[13ZDI1.13ZDI16701]CM16701A.;100',USER='LBURNET',CD='23-MAR-2015;13:06' -->
<A NAME="page_cm16701_1_51"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>we
are unable to satisfy our obligations as a public company, we could be subject to delisting of our Class&nbsp;A common stock, fines, sanctions and other regulatory action. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Our anticipated reliance on exemptions from certain disclosure requirements under the JOBS Act may deter trading in our Class&nbsp;A common stock.  </I></B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We qualify as an "emerging growth company" under the JOBS Act. As a result, we are permitted to, and intend to, rely on exemptions
from certain disclosure requirements. For so long as we are an emerging growth company, we will not be required to:</FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>provide an auditor attestation and report with respect to management's assessment of the effectiveness of our internal
controls over financial reporting pursuant to section&nbsp;404(b) of the Sarbanes-Oxley Act; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>comply with any requirement that may be adopted by the Public Company Accounting Oversight Board regarding mandatory audit
firm rotation or a supplement to the auditor's report providing additional information about the audit and the financial statements (i.e.,&nbsp;an auditor discussion and analysis); and </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>submit certain executive compensation matters to shareholder advisory votes, such as "say-on-pay" and "say-on-frequency,"
and disclose certain executive compensation related items such as the correlation between executive compensation and performance and comparisons of the Chief Executive Officer's compensation to median
employee compensation. </FONT></DD></DL>
</UL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, Section&nbsp;107 of the JOBS Act also provides that an emerging growth company can take advantage of the extended transition period provided in Section&nbsp;7(a)(2)(B)
of the Securities Act for complying with new or revised accounting standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards
would otherwise apply to private companies. We have elected not to take advantage of the benefits of this extended transition period. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
will remain an "emerging growth company" for up to five years, or until the earliest of (i)&nbsp;the last day of the first fiscal year in which our total annual gross revenues
exceed $1&nbsp;billion, (ii)&nbsp;the date that we become a "large accelerated filer" as defined in Rule&nbsp;12b-2 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"),
which would occur if the market value of our common stock that is held by non-affiliates exceeds $700&nbsp;million as of the last business day of our most recently completed second fiscal quarter or
(iii)&nbsp;the date on which we have issued more than $1&nbsp;billion in non-convertible debt during the preceding three-year period. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Until
such time, however, we cannot predict if investors will find our Class&nbsp;A common stock less attractive because we may rely on these exemptions. If some investors find our
Class&nbsp;A common stock less attractive, there may be a less active trading market for our Class&nbsp;A common stock and our stock price may be more volatile. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I> If securities or industry analysts do not publish research or publish inaccurate or unfavorable research about us or our business, or publish projections for our business
that exceed our actual results, our stock price and trading volume could decline.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The trading market for our Class&nbsp;A common stock may be affected by the research and reports that securities or industry
analysts publish about us or our business. We do not currently have, and may never obtain, research coverage by securities and industry analysts.
If no securities or industry analysts commence coverage of our Company, the trading price for our Class&nbsp;A common stock and the trading volume could decline. In the event we obtain securities or
industry analyst coverage, if one or more of the analysts who covers us downgrades our Class&nbsp;A common </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>51</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=7,SEQ=56,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=498006,FOLIO='51',FILE='DISK108:[13ZDI1.13ZDI16701]CM16701A.;100',USER='LBURNET',CD='23-MAR-2015;13:06' -->
<A NAME="page_cm16701_1_52"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>stock
or publishes inaccurate or unfavorable research about our business, our stock price could decline. In addition, if we obtain analyst coverage, the analysts' projections may have little or no
relationship to the results we actually achieve and could cause our stock price to decline if we fail to meet their projections. If one or more of these analysts ceases coverage of us or fails to
publish reports on us regularly, our stock price or trading volume could decline. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> We have broad discretion over the use of the net proceeds from this offering and may not use them effectively.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our management will have broad discretion over the application of a portion of the net proceeds from this offering and could spend
such net proceeds in ways that do not improve our financial condition or results of operations, or enhance the value of our Class&nbsp;A common stock. The failure by our management to apply these
funds effectively could result in financial losses and cause the price of our Class&nbsp;A common stock to decline. Pending their use, we may invest such net proceeds in a manner that does not
produce income or that loses value. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>52</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=8,SEQ=57,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=735309,FOLIO='52',FILE='DISK108:[13ZDI1.13ZDI16701]CM16701A.;100',USER='LBURNET',CD='23-MAR-2015;13:06' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_co16701_1_53"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="co16701_forward-looking_statements"> </A>
<A NAME="toc_co16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  FORWARD-LOOKING STATEMENTS    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This prospectus contains forward-looking statements. You should not place undue reliance on forward-looking statements because they
are subject to numerous uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Forward-looking
statements include information concerning our possible or assumed future results of operations, including descriptions of our business strategy. These forward-looking statements can be identified by
the use of forward-looking terminology, including the terms "may," "will," "should," "believe," "expect," "anticipate," "intend," "plan," "estimate," "project" or, in each case, their negative, or
other variations or comparable terminology and expressions. These statements are based on assumptions that we have made in light of our experience in the industry as well as our perceptions of
historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. As you read and consider this prospectus, you should
understand that these statements are not guarantees of performance or results and that our actual results of operations, financial condition and liquidity, and the development of the industry in which
we operate, may differ materially from those made in or suggested by the forward-looking statements contained in this prospectus. By their nature, forward-looking statements involve known and unknown
risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Although we believe that the forward-looking statements contained in this
prospectus are based on reasonable assumptions, you should be aware that
many factors could affect our actual financial results or results of operations and could cause actual results to differ materially from those in such forward-looking statements, including but not
limited to:</FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>reduced levels of overall trading activity; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>dependence upon trading counterparties and clearing houses performing their obligations to us; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>failures of our customized trading platform; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>risks inherent to the electronic market making business and trading generally; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>increased competition in market making activities; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>dependence on continued access to sources of liquidity; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>risks associated with self-clearing and other operational elements of our business; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>compliance with laws and regulations, including those specific to our industry; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>obligation to comply with applicable regulatory capital requirements; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>litigation or other legal and regulatory-based liabilities; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>proposed legislation that would impose taxes on certain financial transactions in the European Union, the U.S. and other
jurisdictions; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>obligation to comply with laws and regulations applicable to our international operations; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>enhanced media and regulatory scrutiny and its impact upon public perception of us or of companies in our industry; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>need to maintain and continue developing proprietary technologies; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>failure to maintain system security or otherwise maintain confidential and proprietary information; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>capacity constraints, system failures, and delays; </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>53</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=58,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=603919,FOLIO='53',FILE='DISK108:[13ZDI1.13ZDI16701]CO16701A.;17',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_co16701_1_54"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>dependence on third party infrastructure or systems; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>use of open source software; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>failure to protect or enforce our intellectual property rights in our proprietary technology; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>risks associated with international operations and expansion, including failed acquisitions or dispositions; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>fluctuations in currency exchange rates; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>risks associated with potential growth and associated corporate actions; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>inability to, or delay, in accessing the capital markets to sell shares or raise additional capital; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>loss of key executives and failure to recruit and retain qualified personnel; and </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>risks associated with losing access to a significant exchange or other trading venue. </FONT></DD></DL>
</UL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These
and other factors are more fully discussed in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections and elsewhere
in this prospectus. These risks could cause actual results to differ materially from those implied by forward-looking statements in this prospectus. Even if our results of operations, financial
condition and liquidity and the development of the industry in which we operate are consistent with the forward looking statements contained in this prospectus, those results or developments may not
be indicative of results or developments in subsequent periods. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
information contained in this prospectus is materially accurate and complete as of the date of this prospectus. You should keep in mind, however, that any forward-looking statement
made by us in this prospectus, or elsewhere, speaks only as of the date on which we make it. New risks and uncertainties come up from time to time, and it is impossible for us to predict these events
or how they may affect us. We have no obligation to update any forward-looking statements in this prospectus after the date of this prospectus, except as required by federal securities laws. All
subsequent written and oral forward-looking statements concerning the proposed transaction or other matters and attributable to us or any other person acting on our behalf are expressly qualified in
their entirety by the cautionary statements contained or referred to within this prospectus. In light of these risks and uncertainties, you should keep in mind that any event described in a
forward-looking statement made in this prospectus or elsewhere might not occur. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>54</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=59,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=585567,FOLIO='54',FILE='DISK108:[13ZDI1.13ZDI16701]CO16701A.;17',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_cq16701_1_55"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="cq16701_organizational_structure"> </A>
<A NAME="toc_cq16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  ORGANIZATIONAL STRUCTURE    <BR>    </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> Structure Prior to the Reorganization Transactions  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We and our predecessors have been in the electronic trading and market making business for approximately 12&nbsp;years. We currently
conduct our business through Virtu Financial and its subsidiaries. Mr.&nbsp;Viola, our Founder and Executive Chairman, is the sole manager of Virtu Financial. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior
to the commencement of the reorganization transactions, Virtu Financial had limited liability company interests outstanding in the form of Class&nbsp;A-1 interests,
Class&nbsp;A-2 interests and Class&nbsp;B interests. Class&nbsp;A-2 interests included both Class&nbsp;A-2 capital interests and Class&nbsp;A-2 profits interests. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following diagram depicts Virtu Financial's organizational structure prior to the reorganization transactions. This chart is provided for illustrative purposes only and does not
purport to represent all legal entities within Virtu Financial's organizational structure. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B>
<IMG SRC="g583081.jpg" ALT="GRAPHIC" WIDTH="618" HEIGHT="364">
  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Class&nbsp;A Interests  </I></B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to the commencement of the reorganization transactions, the Class&nbsp;A-1 interests, Class&nbsp;A-2 capital interests and
Class&nbsp;A-2 profits interests were owned as follows:</FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the Founder Pre-IPO Members owned 1,964,826 Class&nbsp;A-1 interests and 79,239,978 Class&nbsp;A-2 capital interests; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the Silver Lake Pre-IPO Member owned 7,381,224 Class&nbsp;A-1 interests; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the Temasek Pre-IPO Member owned 5,376,603 Class&nbsp;A-1 interests and 1,828,755 Class&nbsp;A-2 Capital interests; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the SLT Pre-IPO Member owned 12,242,173 Class&nbsp;A-1 interests; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Virtu Employee Holdco owned 5,487,121 vested and 581,886 unvested Class&nbsp;A-2 profits interests, and Virtu East
MIP&nbsp;LLC, the other Management Vehicle ("Virtu East MIP"), owned 2,625,000 Class&nbsp;A-2 capital interests; and </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>55</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=60,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=652978,FOLIO='55',FILE='DISK108:[13ZDI1.13ZDI16701]CQ16701A.;144',USER='LBURNET',CD='23-MAR-2015;13:07' -->
<A NAME="page_cq16701_1_56"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the Management Members and other Virtu Pre-IPO Members owned 12,717,927 Class&nbsp;A-2 capital interests. </FONT></DD></DL>
</UL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
a sale or other specified capital transaction, holders of Class&nbsp;A-1 interests are entitled to receive distributions up to specified preference amounts before holders of
Class&nbsp;A-2 capital interests are entitled to receive distributions. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Class&nbsp;A-2 profits interests are treated similarly to the Class&nbsp;A-2 capital interests, except that they are not entitled to receive any distributions resulting from a
transaction that implies a liquidation value of Virtu Financial that is less than the liquidation value of Virtu Financial on their date of grant. Certain of the Class&nbsp;A-2 profits interests
vest over specified time periods, subject to the continued service of the applicable employee or director on each annual vesting date. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Class&nbsp;B Interests  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to the commencement of the reorganization transactions, Virtu Financial also had limited liability company interests outstanding
in the form of Class&nbsp;B interests, which represent, in a sale or other specified capital transaction, a percentage of the profits and appreciation in the equity value of Virtu Financial arising
after the date of grant (such percentage of profits and appreciation, a "Class&nbsp;B percentage interest"). The Class&nbsp;B interests were issued directly to, and are currently held by, Virtu
Employee Holdco, on behalf of certain members of the management of Virtu Financial that participate in the Virtu Financial&nbsp;LLC Management Incentive Plan (the "Existing Equity Incentive Plan"),
and two of our executive officers. The Class&nbsp;B interests vest over a four-year period, subject to (i)&nbsp;the direct or indirect recipient's continued employment on each annual vesting date
and (ii)&nbsp;the consummation of a sale transaction meeting specified criteria or an initial public offering. We expect this offering to meet the vesting criteria for an initial public offering.
Prior to the commencement of the reorganization transactions, Virtu Financial had outstanding
Class&nbsp;B interests representing an aggregate 12.915% Class&nbsp;B percentage interest. Class&nbsp;B interests are not entitled to receive distributions of operating cash flow from Virtu
Financial. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> The Temasek Transaction  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On December&nbsp;31, 2014, through a series of transactions, Temasek, acting through two indirect wholly owned subsidiaries,
acquired direct or indirect ownership of 10,535,891 Class&nbsp;A-1 redeemable interests and 1,828,755 Class&nbsp;A-2 capital interests in Virtu Financial (the "Temasek Transaction"). Such
investment was made as follows:</FONT></P>


<UL>
<DL compact>

<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Temasek, acting through its indirect wholly owned subsidiary, the Temasek Pre-IPO Member, acquired 5,376,603
Class&nbsp;A-1 redeemable interests from investment funds and other entities affiliated with Silver Lake Partners; </FONT><FONT SIZE=2>


<BR><BR></FONT></DD>



<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Temasek, acting through the Temasek Pre-IPO Member, acquired 1,828,755 Class&nbsp;A-2 capital interests through a
combination of the direct purchase of 1,614,322 Class&nbsp;A-2 capital interests from one Management Member (other than Messrs.&nbsp;Viola or Cifu and their affiliates) who held Class&nbsp;A-2
capital interests in Virtu Financial directly and the direct purchase of newly issued 214,433 Class&nbsp;A-2 capital interests from Virtu Financial, which used the proceeds of such purchase to
redeem 214,433 Class&nbsp;A-2 profits interests in Virtu Financial held by Virtu Employee Holdco, which in turn used such proceeds to redeem Class&nbsp;A-2 profits interests of Virtu Employee
Holdco that corresponded to such redeemed Class&nbsp;A-2 profits interests in Virtu Financial and that were held by certain Management Members (other than Messrs.&nbsp;Viola and Cifu and their
affiliates); and </FONT><FONT SIZE=2>

<BR><BR></FONT></DD>

<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Temasek, acting through one of its indirect wholly owned subsidiaries, acquired a 42.1% interest in an affiliate of Silver
Lake Partners, which indirectly held 12,242,173 Class&nbsp;A-1 </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>56</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=61,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=982391,FOLIO='56',FILE='DISK108:[13ZDI1.13ZDI16701]CQ16701A.;144',USER='LBURNET',CD='23-MAR-2015;13:07' -->
<A NAME="page_cq16701_1_57"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<UL>
<UL>

<P style="font-family:arial;"><FONT SIZE=2>interests.
As a result, Temasek acquired an indirect interest in 5,159,288 Class&nbsp;A-1 redeemable interests. </FONT></P>

</UL>
</UL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Following
the Temasek Transaction, affiliates of Silver Lake Partners retained direct or indirect ownership of 14,464,109 Class&nbsp;A-1 redeemable interests. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> The Reorganization Transactions  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to the completion of this offering, we intend to commence an internal reorganization, which we refer to as the "reorganization
transactions." In connection with the reorganization transactions, the following steps will occur:</FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>we will become the sole managing member of Virtu Financial; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>in a series of transactions, Virtu East MIP will liquidate, with its equity interests in Virtu Financial either being
distributed to its members, including certain members of management, or contributed to Virtu Employee Holdco; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>two of the Founder Pre-IPO Members will liquidate and distribute their equity interests in Virtu Financial to their
equityholders, one of whom is TJMT Holdings&nbsp;LLC; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the SLT Pre-IPO Member will distribute its equity interests in Virtu Financial to its equityholders, including Silver Lake
Technology Associates III,&nbsp;L.P., one of the Silver Lake Post-IPO Members, and an affiliate of Silver Lake Partners and Temasek; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>following a series of transactions, we will acquire equity interests in Virtu Financial as a result of the Mergers, and in
exchange we will issue to the Investor Post-IPO Stockholders shares of our Class&nbsp;A common stock and rights to receive payments under a tax receivable agreement described below. The number of
shares of Class&nbsp;A common stock to be issued to the Investor Post-IPO Stockholders will be based on the value of the Virtu Financial equity interests that we acquire, which will be determined
based on a hypothetical liquidation of Virtu Financial and the initial public offering price per share of our Class&nbsp;A common stock in this offering; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>all of the existing equity interests in Virtu Financial will be reclassified into Virtu Financial Units. The number of
Virtu Financial Units to be issued to each member of Virtu Financial will be determined based on a hypothetical liquidation of Virtu Financial and the initial public offering price per share of our
Class&nbsp;A common stock in this offering. The Virtu Financial Units received by Virtu Employee Holdco and the Management Members will have the same vesting restrictions as the equity interests
being reclassified. Vested Virtu Financial Units will be entitled to receive distributions, if any, from Virtu Financial. Subject to certain exceptions, unvested Virtu Financial Units will not be
entitled to receive such distributions (other than tax distributions). If any unvested Virtu Financial Units are forfeited, they will be cancelled by Virtu Financial for no consideration (and we will
cancel the related shares of Class&nbsp;C common stock for no consideration); </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>we will amend and restate our certificate of incorporation and will be authorized to issue four classes of common stock:
Class&nbsp;A common stock, Class&nbsp;B common stock, Class&nbsp;C common stock and Class&nbsp;D common stock. The Class&nbsp;A common stock and Class&nbsp;C common stock will each provide
holders with one vote on all matters submitted to a vote of stockholders, and the Class&nbsp;B common stock and Class&nbsp;D common stock will each provide holders with 10 votes on all matters
submitted to a vote of stockholders. The holders of Class&nbsp;C common stock and Class&nbsp;D common stock will not have any of the economic rights (including rights to dividends and
distributions upon liquidation) provided to holders of </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>57</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=62,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=422759,FOLIO='57',FILE='DISK108:[13ZDI1.13ZDI16701]CQ16701A.;144',USER='LBURNET',CD='23-MAR-2015;13:07' -->
<A NAME="page_cq16701_1_58"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<UL>
<UL>

<P style="font-family:arial;"><FONT SIZE=2>Class&nbsp;A
common stock and Class&nbsp;B common stock. These attributes are summarized in the following table: </FONT></P>

</UL>
</UL>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="30pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="87pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:94pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Class of Common Stock

<!-- COMMAND=ADD_SCROPPEDRULE,94pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Votes </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Economic Rights </B></FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Class&nbsp;A common stock</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>Yes</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Class&nbsp;B common stock</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>10</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>Yes</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Class&nbsp;C common stock</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>No</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Class&nbsp;D common stock</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>10</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>No</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares
of our common stock will generally vote together as a single class on all matters submitted to a vote of our stockholders; </FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the Virtu Post-IPO Members will subscribe for and purchase shares of our common stock as follows, in each case at a
purchase price of $0.00001 per share and in an amount equal to the number of Virtu Financial Units held by each such Virtu Post-IPO Member: </FONT> <FONT SIZE=2>
<BR><BR></FONT>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the Founder Post-IPO Member will purchase&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our
Class&nbsp;D common stock;
and </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the Silver Lake Post-IPO Members, Virtu Employee Holdco, the Management Members and the other Virtu Post-IPO Members will
purchase&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our Class&nbsp;C common stock; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD></DL>
</DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the Founder Post-IPO Member will be granted the right to exchange its Virtu Financial Units, together with a corresponding
number of shares of our Class&nbsp;D common stock, for shares of our Class&nbsp;B common stock, and the other Virtu Post-IPO Members will be granted the right to exchange their Virtu Financial
Units, together with a corresponding number of shares of our Class&nbsp;C common stock, for shares of our Class&nbsp;A common stock. Each share of our Class&nbsp;B common stock and
Class&nbsp;D common stock is convertible at any time, at the option of the holder, into one share of Class&nbsp;A common stock or Class&nbsp;C common stock, respectively. </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the limited liability company agreement of Virtu Employee Holdco will be amended such that, following this
offering: </FONT> <FONT SIZE=2>
<BR><BR></FONT>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the membership interests of Virtu Employee Holdco will be reclassified into a number of restricted common units of Virtu
Employee Holdco equal to the number of Virtu Financial Units held by Virtu Employee Holdco on behalf of its members;  </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the restricted common units of Virtu Employee Holdco remain subject to the vesting restrictions applicable to the
membership interests from which they were reclassified;  </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>at any time after this offering, subject to certain restrictions, members of Virtu Employee Holdco desiring to transfer
their vested interests in us can elect to (i)&nbsp;cause Virtu Employee Holdco to distribute the vested Virtu Financial Units and corresponding shares of Class&nbsp;C common stock indirectly owned
by such member to such member in redemption of its corresponding interests in Virtu Employee Holdco, (ii)&nbsp;exchange such Virtu Financial Units and corresponding shares of Class&nbsp;C common
stock into shares of Class&nbsp;A common stock and/or (iii)&nbsp;transfer such shares of Class&nbsp;A common stock; and </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the manager will direct Virtu Employee Holdco to vote all securities attributable to it entitled to vote upon the election
of our directors in accordance with the recommendation of our board of directors. </FONT></DD></DL>
</DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>58</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=63,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=21200,FOLIO='58',FILE='DISK108:[13ZDI1.13ZDI16701]CQ16701A.;144',USER='LBURNET',CD='23-MAR-2015;13:07' -->
<A NAME="page_cq16701_1_59"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
have not engaged in any business or other activities except in connection with the reorganization transactions and have no material assets. Following this offering, Virtu Financial
and its subsidiaries will continue to operate the historical business of our Company. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> Effect of the Reorganization Transactions and this Offering  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The reorganization transactions are intended to create a holding company that will facilitate public ownership of, and investment in,
our Company and are structured in a tax-efficient manner for our investors. Because we will manage and operate the business and control the strategic decisions and day-to-day operations of Virtu
Financial, as its sole managing member, and will also have a substantial financial interest in Virtu Financial, we will consolidate the financial results of Virtu Financial, and a portion of our net
income (loss) will be allocated to the non-controlling interest to reflect the entitlement of the Virtu Post-IPO Members to a portion of Virtu Financial's net income (loss). In addition, because Virtu
Financial will be under the common control of Mr.&nbsp;Viola and his affiliates before and after the reorganization transactions, we will account for the reorganization transactions as a
reorganization of entities under common control and will initially measure the interests of the Virtu Pre-IPO Members in the assets and liabilities of Virtu Financial at their carrying amounts as of
the date of the completion of this reorganization transactions. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain
Virtu Pre-IPO Members desire that their investment in us maintain its existing tax treatment as a partnership for U.S. federal income tax purposes and, therefore, will continue
to hold their ownership interests in Virtu Financial until such time in the future as they may elect to exchange their Virtu Financial Units (and corresponding shares of our Class&nbsp;C common
stock or Class&nbsp;D common stock, as applicable) with Virtu Financial for shares of our Class&nbsp;A common stock or Class&nbsp;B common stock, as applicable, on a one-for-one basis. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After
the completion of this offering, based on an assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated public offering price range set
forth on the cover page of this prospectus), we intend to use the net proceeds from this offering as follows:</FONT></P>


<UL>
<DL compact>

<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>we intend to contribute $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million of the net proceeds from this offering to Virtu Financial (or
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million if the underwriters exercise their option to purchase additional shares in full) in exchange for a number of Virtu Financial Units equal to the contribution amount
divided by the price paid by the underwriters for shares of our Class&nbsp;A common stock in this offering, and such contribution amount will be used by Virtu Financial for working capital and
general corporate purposes, which may include financing growth; and </FONT><FONT SIZE=2>

<BR><BR></FONT></DD>

<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>we intend to use the remaining approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million of the net proceeds from this offering (or
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million if the underwriters exercise their option to purchase additional shares in full) to
repurchase&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock from the Silver Lake
Post-IPO Stockholder and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu Financial Units (and corresponding shares of Class&nbsp;C common stock or Class&nbsp;D
common stock) from certain of the Virtu Post-IPO Members,
including the Silver Lake Post-IPO Members, certain members of management and, if the underwriters exercise their option to purchase additional shares, the Founder Post-IPO Member, in each case at a
net price equal to the price paid by the underwriters for shares of our Class&nbsp;A common stock in this offering. Other than in connection with the exercise of the underwriters' option to purchase
additional shares, none of the Founder Pre-IPO Members, the Founder Post-IPO Member, Mr.&nbsp;Viola or any of his family members intends to sell any equity interests in the Company in connection
with the reorganization transactions or this offering. </FONT></DD></DL>
</UL>

<P style="font-family:arial;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We estimate that the offering expenses (other than the underwriting discounts) will be approximately
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million. All of such offering expenses will be paid for or
otherwise borne by Virtu Financial.

 </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>59</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=64,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=325903,FOLIO='59',FILE='DISK108:[13ZDI1.13ZDI16701]CQ16701A.;144',USER='LBURNET',CD='23-MAR-2015;13:07' -->
<A NAME="page_cq16701_1_60"> </A>


<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See
"Use of Proceeds" and "Certain Relationships and Related Party Transactions&nbsp;&#151; Purchases from Equityholders" for further details. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following diagram depicts our organizational structure following the reorganization transactions, this offering and the application of the net proceeds from this offering, including
all of the transactions described above (assuming an initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated public offering price range set forth on the cover page
of this prospectus) and no exercise of the underwriters' option to purchase additional shares). This chart is provided for illustrative purposes only and does not purport to represent all legal
entities within our organizational structure:

 </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B>
<IMG SRC="g75877.jpg" ALT="GRAPHIC" WIDTH="618" HEIGHT="535">
  </B></FONT></P>

<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" >


<DL compact>
<DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">Includes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;unvested Virtu Financial Units and corresponding shares of
Class&nbsp;C common stock. </FONT></DD></DL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on an assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated public
offering price range set
forth on the cover page of this prospectus), upon completion of the transactions described above, this offering and the application of the net proceeds from this
offering:</FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>we will be appointed as the sole managing member of Virtu Financial and will directly or indirectly
hold&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Virtu Financial Units, constituting&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the outstanding equity interests in Virtu Financial
(or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu Financial Units, constituting&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>60</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=65,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=703925,FOLIO='60',FILE='DISK108:[13ZDI1.13ZDI16701]CQ16701A.;144',USER='LBURNET',CD='23-MAR-2015;13:07' -->
<A NAME="page_cq16701_1_61"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<UL>
<UL>

<P style="font-family:arial;"><FONT SIZE=2>the
outstanding equity interests in Virtu Financial if the underwriters exercise their option to purchase additional shares in full); </FONT></P>

</UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the Founder Post-IPO Member will hold an aggregate of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our
Class&nbsp;D common stock and
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu Financial Units, constituting&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the outstanding equity
interests in Virtu Financial (or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;D common stock and
 </FONT></DD></DL>
</UL>


<UL>
<UL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu
Financial Units, constituting&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the outstanding equity interests in Virtu Financial, if the underwriters exercise their option to purchase additional shares in
full and giving effect to the use of the net proceeds therefrom), collectively representing&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the combined voting power in us (or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% if the
underwriters exercise their
option to purchase additional shares in full and giving effect to the use of the net proceeds therefrom);

</FONT></P>

</UL>
</UL>


<UL>
<DL compact>

<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the Silver Lake Post-IPO Members will hold an aggregate of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our Class&nbsp;C
common stock and
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu Financial Units, representing&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the outstanding equity interests in
Virtu Financial (or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;C common stock and
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu Financial Units, representing&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the outstanding equity interests in Virtu
Financial, if the underwriters exercise their option to purchase additional shares in
full), collectively representing&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the combined voting power in us (or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% if the underwriters exercise their option to purchase additional shares in
full); </FONT> <FONT SIZE=2>


<BR><BR></FONT></DD>



<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>The Silver Lake Post-IPO Stockholder (collectively with the Silver Lake Post-IPO Members, the "Silver Lake Equityholders")
will hold an aggregate of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our Class&nbsp;A common stock, representing&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the combined voting power in us
(or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% if the underwriters exercise
their option to purchase additional shares in full); </FONT><FONT SIZE=2>

<BR><BR></FONT></DD>

<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the Temasek Post-IPO Stockholder will hold an aggregate of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our Class&nbsp;A common stock,
representing&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the combined voting power in us (or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% if the underwriters exercise their
option to purchase additional shares in full); </FONT><FONT SIZE=2>

<BR><BR></FONT></DD>

<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Virtu Employee Holdco will hold, subject to the vesting restrictions described above, an aggregate
of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
shares of our Class&nbsp;C common stock and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu Financial Units,
constituting&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the outstanding equity interests in Virtu Financial
(or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of
Class&nbsp;C common stock and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu Financial Units,
constituting&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the outstanding equity interests in Virtu Financial, if the underwriters exercise their option to
purchase additional shares in full and giving effect to the use of the net proceeds therefrom), collectively representing&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the combined voting power in us
(or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% if the
underwriters exercise their option to purchase additional shares in full and giving effect to the use of the net proceeds therefrom); </FONT><FONT SIZE=2>



<BR><BR></FONT></DD>



<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the other Virtu Post-IPO Members, including the Management Members and other pre-IPO investors, will hold, subject to the
vesting restrictions described above, an aggregate of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our Class&nbsp;C common stock
and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu Financial Units, constituting&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the
outstanding equity interests in Virtu Financial (or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;C common stock
and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu Financial Units, constituting&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the outstanding
equity interests in Virtu Financial, if the underwriters exercise their option to purchase additional shares in full and giving effect to the use of the net proceeds therefrom), collectively
representing&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the combined voting power in us (or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% if the underwriters exercise their option to purchase additional shares in
full and giving effect to the use of the
net proceeds therefrom); and</FONT><FONT SIZE=2>


<BR><BR></FONT></DD>



<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>our public stockholders will collectively
hold&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our Class&nbsp;A common stock, representing
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the combined voting power in us (or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares and

 </FONT></DD>

</DL>
</UL>
<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>61</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=7,SEQ=66,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=953505,FOLIO='61',FILE='DISK108:[13ZDI1.13ZDI16701]CQ16701A.;144',USER='LBURNET',CD='23-MAR-2015;13:07' -->
<A NAME="page_cq16701_1_62"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<UL>
<UL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%,
respectively, if the underwriters exercise their option to purchase additional shares in full). </FONT></P>

</UL>
</UL>

<P style="font-family:arial;"><FONT SIZE=2><B> Holding Company Structure and Tax Receivable Agreements  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are a holding company, and immediately after the consummation of the reorganization transactions and this offering our principal
asset will be our ownership interests in Virtu Financial, which we will hold directly and indirectly. The number of Virtu Financial Units we will own, directly or indirectly, at any time will equal
the aggregate number of outstanding shares of our Class&nbsp;A common stock and Class&nbsp;B common stock. The economic interest represented by each Virtu Financial Unit that we own will
correspond to one share of our Class&nbsp;A common stock or Class&nbsp;B common stock, and the total number of Virtu Financial Units owned directly or indirectly
by us and the holders of our Class&nbsp;C common stock and Class&nbsp;D common stock at any given time will equal the sum of the outstanding shares of all classes of our common stock. Shares of
our Class&nbsp;C common stock and Class&nbsp;D common stock cannot be transferred except in connection with a transfer or exchange of Virtu Financial Units. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
do not intend to list our Class&nbsp;B common stock, Class&nbsp;C common stock or Class&nbsp;D common stock on any stock exchange. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
connection with the reorganization transactions, we will acquire existing equity interests in Virtu Financial from an affiliate of Silver Lake Partners and Temasek, and the Temasek
Pre-IPO Member in the Mergers in exchange for the issuance of shares of our Class&nbsp;A common stock and rights to receive payments under a tax receivable agreement to the Investor Post-IPO
Stockholders. In addition, as described above, we intend to use a portion of the net proceeds from this offering to purchase Virtu Financial Units (and corresponding shares of Class&nbsp;C common
stock or Class&nbsp;D common stock) from certain Virtu Post-IPO Members, including the Silver Lake Post-IPO Members, certain members of management and, if the underwriters exercise their option to
purchase additional shares, the Founder Post-IPO Member. These acquisitions of interests in Virtu Financial will result in favorable tax basis adjustments to the assets of Virtu Financial, and these
basis adjustments will be allocated to us and our subsidiaries. In addition, future exchanges by the Virtu Post-IPO Members of Virtu Financial Units and corresponding shares of Class&nbsp;C common
stock or Class&nbsp;D common stock, as the case may be, for shares of our Class&nbsp;A common stock or Class&nbsp;B common stock, respectively, are expected to produce favorable tax attributes.
These tax attributes would not be available to us in the absence of those transactions. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
intend to enter into three tax receivable agreements with the Virtu Post-IPO Members and the Investor Post-IPO Stockholders (one with the Founder Post-IPO Member, Virtu Employee
Holdco, the Management Members and other pre-IPO investors other than affiliates of Silver Lake Partners and affiliates of Temasek, another with the Investor Post-IPO Stockholders and the other with
the Silver Lake Post-IPO Members) that will provide for the payment by us to the Virtu Post-IPO Members and the Investor Post-IPO Stockholders (or their transferees of Virtu Financial Units or other
assignees) of 85% of the amount of cash savings, if any, in U.S. federal, state and local income tax or franchise tax that we actually realize as a result of (i)&nbsp;any increase in tax basis in
Virtu Financial's assets resulting from (a)&nbsp;the acquisition of equity interests in Virtu Financial from an affiliate of Silver Lake Partners and Temasek, and the Temasek Pre-IPO Member in the
reorganization transactions (which represents the unamortized portion of the increase in tax basis in Virtu Financial's assets resulting from a prior acquisition of interests in Virtu Financial by an
affiliate of Silver Lake Partners and Temasek, and the Temasek Pre-IPO Member), (b)&nbsp;the purchases of Virtu Financial Units (along with the corresponding shares of our Class&nbsp;C common
stock or Class&nbsp;D common stock, as applicable) from certain of the Virtu Post-IPO Members using a portion of the net proceeds from this offering or in any future offering, (c)&nbsp;exchanges
by the Virtu Post-IPO Members of Virtu Financial Units (along with the corresponding shares of our Class&nbsp;C common stock or </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>62</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=8,SEQ=67,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=377129,FOLIO='62',FILE='DISK108:[13ZDI1.13ZDI16701]CQ16701A.;144',USER='LBURNET',CD='23-MAR-2015;13:07' -->
<A NAME="page_cq16701_1_63"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>Class&nbsp;D
common stock, as applicable) for shares of our Class&nbsp;A common stock or Class&nbsp;B common stock, as applicable, or (d)&nbsp;payments under the tax receivable agreements,
(ii)&nbsp;any net operating losses available to us as a result of the Mergers, and (iii)&nbsp;tax benefits related to imputed interest deemed arising as a result of payments made under the tax
receivable agreements. Although we are not aware of any issue that would cause the IRS to challenge the tax basis increases or other benefits arising under the tax receivable agreements, the Virtu
Post-IPO Members and the Investor Post-IPO Stockholders (or their transferees or assignees) will not reimburse us for any payments previously made if such basis increases or other benefits are
subsequently disallowed, except that excess payments made to the Virtu Post-IPO Members and the Investor Post-IPO Stockholders will be netted against future payments otherwise to be made under the tax
receivable agreements, if any, after our determination of such excess. As a result, in such circumstances we could make future payments to the Virtu Post-IPO Members and the Investor Post-IPO
Stockholders under the tax receivable agreements that are greater than our actual cash tax savings and may not be able to recoup those payments, which could negatively impact our liquidity. See "Risk
Factors&nbsp;&#151; We will be required to pay the Virtu Post-IPO Members and the Investor Post-IPO Stockholders for certain tax benefits we may claim, and the amounts we may pay could be
significant" and "Certain Relationships and Related Party Transactions&nbsp;&#151; Tax Receivable Agreements." </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>63</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>

<!-- ZEQ.=9,SEQ=68,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=223769,FOLIO='63',FILE='DISK108:[13ZDI1.13ZDI16701]CQ16701A.;144',USER='LBURNET',CD='23-MAR-2015;13:07' -->
<A NAME="page_cq16701_1_64"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="cq16701_use_of_proceeds"> </A>
<A NAME="toc_cq16701_2"> </A>
<BR></FONT><FONT SIZE=2><B>  USE OF PROCEEDS    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We estimate that our net proceeds from this offering will be approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million, after deducting
underwriting discounts and commissions of approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million, based on an assumed initial offering price of
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated public
offering price range set forth on the cover page of this prospectus) and assuming the underwriters' option to purchase additional shares is not exercised. If the underwriters exercise their option to
purchase additional shares in full, we expect to receive approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million of net proceeds based on an assumed initial offering price of
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the
midpoint of the estimated public offering price range set forth on the cover page of this prospectus). </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on an assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated public offering price range
set forth on the cover page of this
prospectus), we intend to contribute
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million of the net proceeds from this offering to Virtu Financial (or $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million if the underwriters
exercise their option to purchase additional shares in
full (see "Certain Relationships and Related Party Transactions&nbsp;&#151; Purchases from Equityholders")) in exchange for a number of Virtu Financial Units equal to the contribution amount
divided by the price paid by the underwriters for shares of our Class&nbsp;A common stock in this offering.

 </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu
Financial will contribute such net proceeds to its subsidiaries. We have broad discretion as to the application of such net proceeds to be used for working capital and general
corporate purposes. We may use such net proceeds to finance growth through the acquisition of, or investment in, businesses, products, services or technologies that are complementary to our current
business, through mergers, acquisitions or other strategic transactions. Prior to application, we may hold any such net proceeds in cash or invest them in short-term securities or investments. You
will not have an opportunity to evaluate the economic, financial or other information on which we base our decisions regarding the use of these proceeds. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We estimate that the offering expenses (other than the underwriting discount) will be approximately
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million. All of such offering expenses will be paid for or
otherwise borne by Virtu Financial.

 </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
intend to use the remaining approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million of the net proceeds from this offering (or $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million if the
underwriters exercise their
option to purchase additional shares in full) to repurchase&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock from the Silver Lake
Post-IPO Stockholder and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu Financial Units
(and corresponding shares of Class&nbsp;C common stock or Class&nbsp;D common stock) from certain of the Virtu Post-IPO Members, including the Silver Lake Post-IPO Members, certain members of
management and, if the underwriters exercise their option to purchase additional shares, the Founder Post-IPO Member, in each case at a net price equal to the price paid by the underwriters for shares
of our Class&nbsp;A common stock in this offering. Certain of our 5% equityholders, directors and executive officers will receive a portion of the proceeds pursuant to these repurchases. See
"Certain Relationships and Related Party Transactions&nbsp;&#151; Purchases from Equityholders." </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As a result of any purchases of Virtu Financial Units (together with a corresponding number of shares of Class&nbsp;C common stock or Class&nbsp;D common stock) as described above,
the number of outstanding shares of Class&nbsp;C common stock and Class&nbsp;D common stock will be reduced. Because we will hold the Virtu Financial Units that we acquire (and increase our
ownership position in Virtu Financial), the number of outstanding Virtu Financial Units will remain the same.

 </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
$1.00 increase (decrease) in the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share would increase (decrease) the amount of proceeds to us from this offering
available to purchase shares of Class&nbsp;A common stock and Virtu Financial Units and corresponding shares of Class&nbsp;C common stock or Class&nbsp;D common stock by
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million and for working capital and general corporate purposes by $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million, assuming the number of shares
offered by us, as set forth on the cover page
of this prospectus, remains the same, and after deducting the estimated underwriting discounts and commissions and estimated offering expenses payable by us. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>64</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=10,SEQ=69,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=680867,FOLIO='64',FILE='DISK108:[13ZDI1.13ZDI16701]CQ16701A.;144',USER='LBURNET',CD='23-MAR-2015;13:07' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_cs16701_1_65"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="cs16701_dividend_policy"> </A>
<A NAME="toc_cs16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  DIVIDEND POLICY    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu Financial has historically generated cash from market making activities significantly in excess of the capital required to fund
its required capital expenditures and the capital required to support its market making activities. As such, Virtu Financial has regularly declared and paid distributions on its equity interests
during the years ended December&nbsp;31, 2012, 2013 and 2014. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
the year ended December&nbsp;31, 2012, Virtu Financial declared and paid the following cash distributions, by quarter: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="96pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:147pt;"><FONT SIZE=2><B>Year Ended December&nbsp;31, 2012<BR>
(In millions)

<!-- COMMAND=ADD_SCROPPEDRULE,147pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:61pt;"><FONT SIZE=2><B>Aggregate<BR>
Cash<BR>
Distributions

<!-- COMMAND=ADD_SCROPPEDRULE,61pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>1st&nbsp;Quarter</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>22.0</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2nd&nbsp;Quarter</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>70.0</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>3rd&nbsp;Quarter</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>19.5</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4th&nbsp;Quarter</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>22.9</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total distributions</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>134.4</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
the year ended December&nbsp;31, 2013, Virtu Financial declared and paid the following cash distributions, by quarter: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="96pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:147pt;"><FONT SIZE=2><B>Year Ended December&nbsp;31, 2013<BR>
(In millions)

<!-- COMMAND=ADD_SCROPPEDRULE,147pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:61pt;"><FONT SIZE=2><B>Aggregate<BR>
Cash<BR>
Distributions

<!-- COMMAND=ADD_SCROPPEDRULE,61pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>1st&nbsp;Quarter</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>12.4</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2nd&nbsp;Quarter</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>241.0</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(1)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>3rd&nbsp;Quarter</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>55.0</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4th&nbsp;Quarter</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>125.0</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(2)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total distributions</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>433.4</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->


<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" >
 </DIV>
<DIV style="padding:0pt;position:relative;text-align:left;margin-left:15%;">
 <DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Includes
a special distribution of $147.1&nbsp;million to the members of Virtu Financial, representing the proceeds from an incremental term loan under
our senior secured credit facility in May 2013.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Includes
a special distribution of $98.4&nbsp;million to the members of Virtu Financial, representing the incremental proceeds from the most recent
refinancing of our senior secured credit facility in November 2013. </FONT></DD></DL>
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
the year ended December&nbsp;31, 2014, Virtu Financial declared the following cash distributions, by quarter: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="96pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:147pt;"><FONT SIZE=2><B>Year Ended December&nbsp;31, 2014<BR>
(In millions)

<!-- COMMAND=ADD_SCROPPEDRULE,147pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:61pt;"><FONT SIZE=2><B>Aggregate<BR>
Cash<BR>
Distributions

<!-- COMMAND=ADD_SCROPPEDRULE,61pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>1st&nbsp;Quarter</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>45.0</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2nd&nbsp;Quarter</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>45.7</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>3rd&nbsp;Quarter</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>35.0</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4th&nbsp;Quarter</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>15.0</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total distributions</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>140.7</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>65</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=70,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=29090,FOLIO='65',FILE='DISK108:[13ZDI1.13ZDI16701]CS16701A.;135',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_cs16701_1_66"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, during years ended December&nbsp;31, 2006 through 2011, Virtu Financial and Madison Tyler Holdings regularly declared and paid significant cash distributions to their
respective members, in an aggregate amount of $934.5&nbsp;million. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
January, February and March 2015, Virtu Financial made additional cash distributions to its equityholders in an aggregate amount of $50.0&nbsp;million, $20.0&nbsp;million and
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million, respectively. Following the consummation of this offering, as of a record date prior to the commencement of the reorganization transactions, we expect Virtu
Financial
to make further cash distributions to the Virtu Pre-IPO Members in an aggregate amount of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million. We refer to these distributions collectively as the "2015
Distributions." </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
distribution to the Virtu Pre-IPO Members following the consummation of this offering will be made before any other distributions are made to us and the Virtu Post-IPO Members, and
will be made pro rata in accordance with the Virtu Pre-IPO Members' respective interests in classes of equity entitled to participate in operating cash flow distributions, operating cash flow of Virtu
Financial and its subsidiaries for the fiscal period beginning on January&nbsp;1, 2015 and ending on the date of the consummation of the reorganization transactions, less any reserves established
during this period and less any operating cash flow for this period previously distributed to such Virtu Pre-IPO Members. "Operating cash flow" refers to Virtu Financial's Available Cash Flow (as
defined in Virtu Financial's existing limited liability company agreement), which includes Virtu Financial's consolidated net income, adjusted to exclude non-cash items, extraordinary or one-time
items and any non-cash compensation expense related to any equity interests issued under any management equity plan. We expect this distribution will be funded from cash on hand. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Following
the consummation of this offering, our board of directors intends to continue our policy of returning excess cash to our stockholders. Subject to the sole discretion of our
board of directors and the considerations discussed below, we intend to pay dividends that will annually equal, in the aggregate, between 70% and 100% of our net income. We expect that our first
dividend will be paid in the third quarter of 2015 (in respect of the second quarter of 2015) and will be $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share of our Class&nbsp;A common stock. We intend to fund our initial
dividend, as well as any future dividends, from our portion of distributions made by Virtu Financial, from its available cash generations from operations. The payment of dividends will be subject to
general economic and business conditions, including our financial condition and results of operations, capital requirements, contractual restrictions, including restrictions contained in our credit
agreement, regulatory restrictions, business prospects and other factors that our board of directors considers relevant. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
board of directors will periodically review the cash generated from our business and the capital expenditures required to finance our growth plans and determine whether to increase
this regular dividend and/or declare and pay periodic special dividends to our stockholders. Any future determination to change the amount of dividends and/or declare special dividends will be at the
discretion of our board of directors and will be dependent upon then-existing conditions, including our financial condition and results of operations, capital requirements, contractual restrictions,
including restrictions contained in our credit agreement, business prospects and other factors that our board of directors considers relevant. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Because
we will be a holding company and our principal asset after the consummation of this offering will be our direct and indirect equity interests in Virtu Financial, we intend to
fund our initial dividend and any future dividends by causing Virtu Financial, in our capacity as its sole managing member, to make distributions to its equityholders, including the Founder Post-IPO
Member, the Silver Lake Post-IPO Members, Virtu Employee Holdco, the Management Members and us. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>66</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=71,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=367833,FOLIO='66',FILE='DISK108:[13ZDI1.13ZDI16701]CS16701A.;135',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_cs16701_1_67"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="cs16701_capitalization"> </A>
<A NAME="toc_cs16701_2"> </A>
<BR></FONT><FONT SIZE=2><B>  CAPITALIZATION    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table sets forth our cash and cash equivalents and capitalization as of December&nbsp;31, 2014 (i)&nbsp;on an actual
basis, (ii)&nbsp;on a pro forma basis to reflect the reorganization transactions described under "Organizational Structure" and the estimated impact of the tax receivable agreements and
(iii)&nbsp;as further adjusted to reflect:</FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the sale of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our Class&nbsp;A common stock in this offering at an assumed public
offering price
of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated offering price range set forth on the cover page of this prospectus), after deducting the
underwriters' discounts and commissions; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the application of the net proceeds of this offering as described under "Use of Proceeds";
and</FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the 2015 Distributions. </FONT></DD></DL>
</UL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
table should be read in conjunction with "Use of Proceeds," "Unaudited Pro Forma Financial Information" and "Management's Discussion and Analysis of Financial Condition and Results
of
Operations" and the consolidated financial statements and related notes appearing elsewhere in this prospectus. </FONT></P>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="67pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="68pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="102pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>As of December&nbsp;31, 2014 </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2><B>(in thousands)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:30pt;"><FONT SIZE=2><B>Actual

<!-- COMMAND=ADD_SCROPPEDRULE,30pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:51pt;"><FONT SIZE=2><B>Pro Forma


<!-- COMMAND=ADD_SCROPPEDRULE,51pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:72pt;"><FONT SIZE=2><B>Pro Forma<BR>
As Adjusted(1)

<!-- COMMAND=ADD_SCROPPEDRULE,72pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Cash and cash equivalents</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>75,864</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total long-term indebtedness</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>500,827</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Class&nbsp;A-1 redeemable interest</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>294,433</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Equity:</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Class&nbsp;A-1 interest</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>19,648</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Class&nbsp;A-2 interest</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>287,705</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Class&nbsp;A common stock, par value $0.00001 per share</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Class&nbsp;B common stock, par value $0.00001 per share</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Class&nbsp;C common stock, par value $0.00001 per share</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Class&nbsp;D common stock, par value $0.00001 per share</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Additional paid-in capital</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Accumulated deficit</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(91,383</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Accumulated other comprehensive income (loss)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(3,705</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total members' equity/shareholders' equity</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>212,265</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Non-controlling interest</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total equity</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>212,265</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total capitalization</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,007,525</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" >


<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>A
$1.00 increase (decrease) in the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share, would increase (decrease) each of additional paid-in
capital, total equity and total capitalization by $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million, assuming the number of shares offered by us, as set forth on the cover page of this prospectus, remains the same and
after deducting underwriting discounts and commissions and estimated offering expenses payable by us. </FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>67</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=72,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=952006,FOLIO='67',FILE='DISK108:[13ZDI1.13ZDI16701]CS16701A.;135',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_cu16701_1_68"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="cu16701_dilution"> </A>
<A NAME="toc_cu16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  DILUTION    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If you invest in our Class&nbsp;A common stock, you will experience dilution to the extent of the difference between the initial
public offering price per share of our Class&nbsp;A common stock and the pro forma net tangible book value per share of our Class&nbsp;A common stock. Dilution results from the fact that the per
share offering price of the Class&nbsp;A common stock is substantially in excess of the book value per share attributable to the Class&nbsp;A common stock held by existing equityholders (including
all shares issuable upon exchange and/or conversion). </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
pro forma net tangible book value as of December&nbsp;31, 2014 would have been a deficit of approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million, or
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share of our
common stock. Pro forma net tangible book value represents the amount of total tangible assets less total liabilities, and pro forma net tangible book value per share represents pro forma net tangible
book value divided by the number of shares of common stock outstanding, in each case after giving effect to the reorganization transactions (based on an assumed initial public offering price of
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated public offering price range set forth on the cover page of this prospectus)), the 2015 Distributions and the estimated impact of the tax
receivable agreements, assuming that the Virtu Post-IPO Members exchange all of their Virtu Financial Units (and corresponding shares of our Class&nbsp;C
common stock or Class&nbsp;D common stock, as applicable) for newly-issued shares of our Class&nbsp;A common stock or Class&nbsp;B common stock, as applicable, on a one-for-one basis. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After
giving effect to the reorganization transactions, the 2015 Distributions and the estimated impact of the tax receivable agreements, assuming that the Virtu Post-IPO Members
exchange all of their Virtu Financial Units (and corresponding shares of our Class&nbsp;C common stock or Class&nbsp;D common stock, as applicable) for newly-issued shares of our Class&nbsp;A
common stock or Class&nbsp;B common stock, as applicable, on a one-for-one basis, and after giving further effect to the sale
of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock in this
offering at the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated price range on the cover page of this prospectus) and the application of the net
proceeds from this offering (including the contribution of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million of the net proceeds from this offering to Virtu Financial in exchange
for&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu Financial
Units, and the use of the remaining approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million of the net proceeds from this offering to
repurchase&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock from the
Silver Lake Post-IPO Stockholder and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu Financial Units (and corresponding shares of
Class&nbsp;C common stock or Class&nbsp;D common stock) from certain of the Virtu Post-IPO
Members, including the Silver Lake Post-IPO Members, certain members of management and, if the underwriters exercise their option to purchase additional shares, the Founder Post-IPO Member), our pro
forma as adjusted net tangible book value would have been a deficit of approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million, or $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share,
representing an immediate increase in net tangible
book value of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share to existing equityholders and an immediate dilution in net tangible book value of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share to new
investors. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table illustrates the per share dilution: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="42pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Assumed initial public offering price per share</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Pro forma net tangible book value per share as of December&nbsp;31, 2014(1)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Increase in pro forma net tangible book value per share attributable to new investors</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Pro forma adjusted net tangible book value per share after this offering(2)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Dilution in pro forma net tangible book value per share to new investors</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" >


<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Reflects&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;outstanding
shares of Class&nbsp;A common stock and Class&nbsp;B common stock, including (i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares
of
Class&nbsp;B common stock issuable upon the </FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>68</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=73,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=167154,FOLIO='68',FILE='DISK108:[13ZDI1.13ZDI16701]CU16701A.;83',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_cu16701_1_69"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<UL>

<P style="font-family:arial;"><FONT SIZE=2>exchange
of the Virtu Financial Units and shares of Class&nbsp;D common stock to be held by the Founder Post-IPO Member immediately prior to this offering, (ii)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares
of Class&nbsp;A common stock to be held by the Investor Post-IPO Stockholders immediately prior to this offering and (iii)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock
issuable upon the exchange of the Virtu Financial Units and shares of Class&nbsp;C common stock to be held by the Virtu Post-IPO Members other than the Founder Post-IPO Member immediately prior to
this offering. </FONT></P>

</UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Reflects&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;outstanding
shares, consisting of (i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock to be issued in this
offering and (ii)&nbsp;the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;outstanding shares described in note&nbsp;(1) above less
the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock to be repurchased from the
Silver Lake Post-IPO Stockholder and the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock issuable
upon the exchange of the Virtu Financial Units and corresponding shares of common stock
to be repurchased from certain of the Virtu Post-IPO Members using a portion of the net proceeds from this offering. </FONT></DD></DL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dilution
is determined by subtracting pro forma net tangible book value per share after this offering from the initial public offering price per share of Class&nbsp;A
common stock. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
$1.00 increase (decrease) in the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share would increase (decrease) our pro forma net tangible book value after this
offering by $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million and the dilution per share to new investors by $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, in each case assuming the number of shares offered, as set forth on the cover
page of this
prospectus, remains the same and after deducting the estimated underwriting discounts and commissions and estimated offering expenses payable by us. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table sets forth, on a pro forma basis as of December&nbsp;31, 2014, the number of shares of Class&nbsp;A common stock and Class&nbsp;B common stock purchased from
us, the total consideration paid to us and the average price per share paid by the existing equityholders and by new investors purchasing shares in this offering, at the assumed initial public
offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated price range on the cover page of this prospectus), after deducting the estimated underwriting discounts and commissions and
estimated offering expenses payable by us and after giving effect to the reorganization transactions and the estimated impact of the tax receivable agreements, assuming that the Virtu Post-IPO Members
exchange all of their Virtu Financial Units (and corresponding shares of our Class&nbsp;C common stock or Class&nbsp;D common stock, as applicable) for newly-issued shares of our Class&nbsp;A
common stock or Class&nbsp;B common stock, as applicable, on a one-for-one basis, and after giving further effect to this offering and the application of the net proceeds from this offering: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:57%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"140%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="140%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="73pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="50pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="91pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="50pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="88pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH ROWSPAN=3 style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=4 ROWSPAN=3 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>Shares of Class&nbsp;A and Class&nbsp;B<BR>
Common Stock Purchased </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=4 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>Total Consideration </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:67pt;"><FONT SIZE=2><B>Average Price<BR>
Per Share

<!-- COMMAND=ADD_SCROPPEDRULE,67pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:38pt;"><FONT SIZE=2><B>Number

<!-- COMMAND=ADD_SCROPPEDRULE,38pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:37pt;"><FONT SIZE=2><B>Percent

<!-- COMMAND=ADD_SCROPPEDRULE,37pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:37pt;"><FONT SIZE=2><B>Amount

<!-- COMMAND=ADD_SCROPPEDRULE,37pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:37pt;"><FONT SIZE=2><B>Percent

<!-- COMMAND=ADD_SCROPPEDRULE,37pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Existing stockholders(1)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>New investors(2)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>100%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>100%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" >


<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Reflects
approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million of consideration paid by existing equityholders in respect of shares of Class&nbsp;A common stock,
Class&nbsp;B common stock and Virtu Financial Units (together with corresponding shares of Class&nbsp;C common stock and Class&nbsp;D common stock), net of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million of
consideration paid by (i)&nbsp;the Investor Post-IPO Stockholders in respect of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock and (ii)&nbsp;certain
of the Virtu Post-IPO Members in
respect of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu Financial Units and corresponding shares of common stock, which, in each case, we intend to repurchase
using a portion of the net proceeds from this </FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>69</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=74,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=78763,FOLIO='69',FILE='DISK108:[13ZDI1.13ZDI16701]CU16701A.;83',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_cu16701_1_70"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<UL>

<P style="font-family:arial;"><FONT SIZE=2>offering.
The approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million of consideration paid consists of (a)&nbsp;a contribution by the Silver Lake Pre-IPO Member and a Founder Pre-IPO Member in July 2011
in
connection with the Madison Tyler Transactions, (b)&nbsp;a contribution in the form of rollover equity by various Virtu Pre-IPO Members in July 2011 in connection with the Madison Tyler
Transactions, (c)&nbsp;deemed contributions in respect of vested awards of Class&nbsp;A-2 profits interests and (d)&nbsp;a purchase by the Temasek Pre-IPO Member in December 2014 in connection
with the Temasek Transaction. </FONT></P>

</UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Includes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares
of Class&nbsp;A common stock to be sold in this offering, the net proceeds of which we intend to use to
(i)&nbsp;make a contribution to Virtu Financial in exchange for Virtu Financial Units, as described under "Use of Proceeds," and (ii)&nbsp;repurchase shares of Class&nbsp;A common stock and
Virtu Financial Units together with corresponding shares of common stock from the Silver Lake Post-IPO Stockholder and certain of the Virtu Post-IPO Members, respectively, as described in
note&nbsp;(1) above. </FONT></DD></DL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the extent the underwriters' option to purchase additional shares is exercised, there will be further dilution to new investors. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
$1.00 increase (decrease) in the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share of Class&nbsp;A common stock (the midpoint of the estimated public offering
price range set forth on the cover page of this prospectus) would increase (decrease) total consideration paid by new investors in this offering by $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million and would increase
(decrease) the average price per share paid by new investors by $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, assuming the number of shares offered, as set forth on the cover page of this prospectus, remains the same and after
deducting the estimated underwriting discounts and commissions and estimated offering expenses payable by us. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
may choose to raise additional capital due to market conditions or strategic considerations even if we believe we have sufficient funds for our current or future operating plans. To
the extent additional capital is raised through the sale of equity or convertible debt securities, the issuance of these securities could result in further dilution to our stockholders. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>70</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=75,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=396471,FOLIO='70',FILE='DISK108:[13ZDI1.13ZDI16701]CU16701A.;83',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_cu16701_1_71"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="cu16701_unaudited_pro_forma_financial_information"> </A>
<A NAME="toc_cu16701_2"> </A>
<BR></FONT><FONT SIZE=2><B>  UNAUDITED PRO FORMA FINANCIAL INFORMATION    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The unaudited pro forma condensed consolidated statement of income for the year ended December&nbsp;31, 2014 gives effect to
(i)&nbsp;the reorganization transactions described under "Organizational Structure" and (ii)&nbsp;the creation of certain tax assets in connection with this offering and the reorganization
transactions and the creation or acquisition of related liabilities in connection with entering into the tax receivable agreements with the Virtu Post-IPO Members and the Investor Post-IPO
Stockholders, as if each had occurred on January&nbsp;1, 2014. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
unaudited pro forma condensed consolidated statement of financial condition as of December&nbsp;31, 2014 gives effect to (i)&nbsp;the reorganization transactions described under
"Organizational Structure," (ii)&nbsp;the creation of certain tax assets in connection with this offering and the reorganization transactions and the creation or acquisition of related liabilities
in connection with entering into the tax receivable agreements with the Virtu Post-IPO Members and the Investor Post-IPO Stockholders, (iii)&nbsp;this offering and the use of proceeds from this
offering, and (iv)&nbsp;the 2015 Distributions, as if each had occurred on December&nbsp;31, 2014. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
unaudited pro forma financial information has been prepared by our management and is based on Virtu Financial's historical financial statements and the assumptions and adjustments
described in the notes to the unaudited pro forma financial information below. The presentation of the unaudited pro forma financial information is prepared in conformity with Article&nbsp;11 of
Regulation&nbsp;S-X. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
historical financial information for the year ended December&nbsp;31, 2014 has been derived from Virtu Financial's consolidated financial statements and accompanying notes
included elsewhere in this prospectus. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
purposes of the unaudited pro forma financial information, we have assumed that&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common
stock will be issued by us at a price per
share equal to the midpoint of the estimated offering price range set forth on the cover of this prospectus, and as a result, immediately following the completion of this offering, the ownership
percentage represented by Virtu Financial Units not held by us will be&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%, and the net income attributable to Virtu Financial Units not held by us will accordingly represent
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of our net income. If the underwriters' option to purchase additional shares is exercised in full, the ownership percentage represented by Virtu Financial Units not held by us will be
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%; and the net income attributable to Virtu Financial Units not held by us will accordingly represent&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of our net income. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
based the pro forma adjustments on available information and on assumptions that we believe are reasonable under the circumstances in order to reflect, on a pro forma basis, the
impact of the relevant transactions on the historical financial information of Virtu Financial. See "Notes to Unaudited Pro Forma Financial Information" for a discussion of assumptions made. The
unaudited pro forma financial information does not purport to be indicative of our results of operations or financial position had the relevant transactions occurred on the dates assumed and does not
project our results of operations or financial position for any future period or date. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
unaudited pro forma financial information should be read together with "Capitalization," "Selected Consolidated Financial Data," "Management's Discussion and Analysis of Financial
Condition and Results of Operations" and our and Virtu Financial's respective audited consolidated financial statements and related notes thereto included elsewhere in this prospectus. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>71</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=76,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=740231,FOLIO='71',FILE='DISK108:[13ZDI1.13ZDI16701]CU16701A.;83',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_cy16701_1_72"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="cy16701_virtu_financial,_inc._and_subs__vir04659"> </A>
<A NAME="toc_cy16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  Virtu Financial,&nbsp;Inc. and Subsidiaries<BR>  <BR>    Unaudited Pro Forma Condensed Consolidated Statement of Income<BR>  <BR>    Year Ended December&nbsp;31, 2014    <BR>    </B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:54%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"150%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="150%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="42pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="72pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="72pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="64pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="74pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="49pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><B>(In thousands, except per share data)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Actual </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Adjustments<BR>
for&nbsp;the<BR>
Reorganization<BR>
Transactions<BR>
Other than Tax<BR>
Receivable<BR>
Agreements </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Adjustments for<BR>
the Tax<BR>
Receivable<BR>
Agreements </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>As Adjusted<BR>
Before this<BR>
Offering </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Adjustments for<BR>
this Offering </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Pro Forma </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Revenues:</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Trading income, net</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">685,150</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Interest and dividends income</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">27,923</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Technology services</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">9,980</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:22pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Total revenue</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">723,053</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:9pt;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Operating Expenses:</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Brokerage, exchange and clearance fees, net</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">230,965</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Communication and data processing</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">68,847</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Employee compensation and payroll taxes</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">84,531</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;(a)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Interest and dividends expense</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">47,083</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Operations and administrative</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">21,923</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Depreciation and amortization</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">30,441</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Amortization of purchased intangibles and acquired capitalized software</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">211</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Acquisition related retention bonus</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">2,639</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Initial public offering fees and expenses</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">8,961</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Transaction advisory fees and expenses</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">3,000</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Financing interest expense on senior secured credit facility</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">30,894</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;(b)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:29pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Total operating expenses</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">529,495</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Income before income taxes</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">193,558</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Provision for income taxes</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">3,501</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;(c)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(c)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Net income</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">190,057</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Net income attributable to non-controlling interest</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(d)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Net income attributable to Virtu Financial,&nbsp;Inc.&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Basic and diluted earnings per share of Class&nbsp;A Common stockholders:</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Basic</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(e)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Diluted</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(e)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Weighted average number of shares used in computing earnings per share</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Basic</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(e)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Diluted</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(e)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>

 <p style="font-family:arial;line-height:1pt;margin-left:18pt;"><font> </FONT> <FONT SIZE=2>
<!-- BLANK LINE TO FORCE PARA -->
&nbsp;&nbsp;&nbsp;
</font></p><p align=center style="font-family:arial;"> <FONT SIZE=2>
See accompanying notes to unaudited pro forma financial information.</FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>72</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=77,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=750278,FOLIO='72',FILE='DISK108:[13ZDI1.13ZDI16701]CY16701A.;93',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_da16701_1_73"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="da16701_virtu_financial,_inc._and_subs__vir04979"> </A>
<A NAME="toc_da16701_1"> </A></FONT> <FONT SIZE=2><B><BR>  Virtu Financial,&nbsp;Inc. and Subsidiaries    <BR>    <BR>    Unaudited Pro Forma Condensed Consolidated Statement of Financial Condition    <BR>    <BR>    As of December&nbsp;31, 2014
<BR>    </B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:54%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"150%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="150%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="4pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="47pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="4pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="68pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="4pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="67pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="4pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="67pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="4pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="51pt" style="font-family:arial;"></TD>
<TD WIDTH="18pt" style="font-family:arial;"></TD>
<TD WIDTH="4pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="67pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="4pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="53pt" style="font-family:arial;"></TD>
<TD WIDTH="13pt" style="font-family:arial;"></TD>
<TD WIDTH="4pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="28pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><B>(In thousands, except per interest and share data)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Actual </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Adjustments<BR>
for the<BR>
Reorganization<BR>
Transactions<BR>
Other than<BR>
the Tax<BR>
Receivable<BR>
Agreements </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Adjustments for<BR>
Reorganization<BR>
Transactions<BR>
Involving<BR>
Silver Lake<BR>
Equityholders<BR>
and Temasek<BR>
Equityholders </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Adjustments for<BR>
the Tax<BR>
Receivable<BR>
Agreements </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>As Adjusted<BR>
Before this<BR>
Offering </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Adjustments for<BR>
the Pre-IPO<BR>
Distributions </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Adjustments<BR>
for this<BR>
Offering and the<BR>
Use of<BR>
Proceeds </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Pro<BR>
Forma </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Assets</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Cash and cash equivalents</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">75,864</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(g)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(f)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Securities borrowed</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">484,934</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Securities purchased under agreements to resell</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">31,463</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Receivables from broker-dealers and clearing organizations</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">387,652</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Trading assets, at fair value:</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Financial instruments owned</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,307,933</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Financial instruments owned and pledged</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">236,375</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Property, equipment and capitalized software (net of accumulated depreciation)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">44,644</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Goodwill</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">715,379</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Intangibles (net of accumulated amortization)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,414</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Other assets</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">38,903</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(h)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Deferred tax asset</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(i)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Total assets</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">3,324,561</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:8pt;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Liabilities and members'/stockholders' equity</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Liabilities</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Short-term borrowings</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Securities loaned</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">497,862</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Securities sold under agreements to repurchase</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">2,006</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Payables to broker-dealers and clearing organizations</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">686,203</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Trading liabilities, at fair value:</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Financial instruments sold, not yet purchased</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,037,634</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Accounts payable and accrued expenses and other liabilities</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">93,331</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(i)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Senior secured credit facility</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">500,827</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Total liabilities</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">2,817,863</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>73</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=78,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=405019,FOLIO='73',FILE='DISK108:[13ZDI1.13ZDI16701]DA16701A.;160',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_da16701_1_74"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial,&nbsp;Inc. and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> Unaudited Pro Forma Condensed Consolidated Statement of Financial Condition (Continued) </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> As of December&nbsp;31, 2014 </B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:54%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"150%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="150%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="4pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="47pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="4pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="68pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="4pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="67pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="4pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="67pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="4pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="51pt" style="font-family:arial;"></TD>
<TD WIDTH="18pt" style="font-family:arial;"></TD>
<TD WIDTH="4pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="67pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="4pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="53pt" style="font-family:arial;"></TD>
<TD WIDTH="13pt" style="font-family:arial;"></TD>
<TD WIDTH="4pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="28pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><B>(In thousands, except per interest and share data)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Actual </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Adjustments<BR>
for the<BR>
Reorganization<BR>
Transactions<BR>
Other than<BR>
the Tax<BR>
Receivable<BR>
Agreements </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Adjustments for<BR>
Reorganization<BR>
Transactions<BR>
Involving<BR>
Silver Lake<BR>
Equityholders<BR>
and Temasek<BR>
Equityholders </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Adjustments for<BR>
the Tax<BR>
Receivable<BR>
Agreements </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>As Adjusted<BR>
Before this<BR>
Offering </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Adjustments for<BR>
the Pre-IPO<BR>
Distributions </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Adjustments<BR>
for this<BR>
Offering and the<BR>
Use of<BR>
Proceeds </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Pro<BR>
Forma </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Class&nbsp;A-1 redeemable interest(1)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">294,433</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(j)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(k)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:8pt;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Equity</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Class&nbsp;A-1&nbsp;&#151; Authorized and Issued&nbsp;&#151; 1,964,826 interests, Outstanding&nbsp;&#151; 1,964,826 interests</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">19,648</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(j)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Class&nbsp;A-2&nbsp;&#151; Authorized and Issued&nbsp;&#151; 101,381,332 interests, Outstanding&nbsp;&#151; 99,855,666 interests</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">287,705</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(j)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Class A common stock (par value, $0.00001),
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares authorized
and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares outstanding</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(k)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(f)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Class&nbsp;B common stock (par value, $0.00001),
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares authorized
and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares outstanding</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Class C common stock (par value, $0.00001),
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares authorized
and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares outstanding</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(j)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(j)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Class D common stock (par value, $0.00001),
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares authorized
and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares outstanding</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(j)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Additional paid-in capital</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(d)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(k)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(i)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(g)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(h)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Accumulated deficit</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(91,383</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(d)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(a)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Accumulated other comprehensive income (loss)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(3,705</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Total members' equity/shareholders' equity</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">212,265</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Non-controlling interest</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(d)(j)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(a)(d)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Total members'/stockholders' equity</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">212,265</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Total liabilities, redeemable membership interest and members'/stockholders' equity/(deficit)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">3,324,561</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->


<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="9%" ALIGN="LEFT" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="9%" ALIGN="LEFT" >
 </DIV>
<DIV style="padding:0pt;position:relative;text-align:left;margin-left:10%;">
 <DL compact>
<DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(1)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">The
Class&nbsp;A-1 interests of Virtu Financial are convertible by the holders at any time into an equivalent number of Class&nbsp;A-2 capital interests
of Virtu Financial and, in a sale or other specified capital transaction, holders are entitled to receive distributions up to specified preference amounts before holders of Class&nbsp;A-2 capital
interests of Virtu Financial are entitled to receive distributions. In connection with the reorganization transactions, all of the existing equity interests in Virtu Financial will be reclassified
into Virtu Financial Units. See "Organizational Structure&nbsp;&#151; The Reorganization Transactions." </FONT></DD></DL>
 </DIV>

 <p style="font-family:arial;line-height:1pt;margin-left:18pt;"><font> </FONT> <FONT SIZE=2>
<!-- BLANK LINE TO FORCE PARA -->
&nbsp;&nbsp;&nbsp;
</font></p><p align=center style="font-family:arial;"><font> </FONT> <FONT SIZE=2>
See accompanying notes to unaudited pro forma financial
information.</FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>74</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=79,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=375036,FOLIO='74',FILE='DISK108:[13ZDI1.13ZDI16701]DA16701A.;160',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_dc16701_1_75"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="dc16701_virtu_financial,_inc._and_subs__vir03497"> </A>
<A NAME="toc_dc16701_1"> </A></FONT> <FONT SIZE=2><B><BR>  Virtu Financial,&nbsp;Inc. and Subsidiaries    <BR>    <BR>    Notes to Unaudited Pro Forma Financial Information    <BR>    </B></FONT></P>


<DL compact>

<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Reflects
approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million and $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million of expected recurring compensation expenses in
respect of the
time-based vesting of (i)&nbsp;pre-IPO Class&nbsp;B interests in Virtu Financial vesting upon the consummation of this offering and (ii)&nbsp;stock options with respect to an aggregate of
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock to be issued in connection with this offering under the 2015 Management Incentive Plan, respectively. The
stock options will have an exercise
price equal to the public offering price of our Class&nbsp;A common stock in this offering and will vest equally over a four-year period beginning on the grant date. The remaining unvested amounts
relating to Class&nbsp;B interests and stock options of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million and $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million,
respectively, will vest over a weighted average time period of
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and&nbsp;&nbsp;&nbsp;years, respectively. With respect to the unvested pre-IPO Class&nbsp;B interests, such vesting over a period ending on December&nbsp;31, 2017 will increase
the non-controlling interests, assuming such interests are not exchanged for Class&nbsp;A common stock of Virtu Financial,&nbsp;Inc. The related impacts to the condensed consolidated statement of
financial condition reflect the proportionate allocation of (i)&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million described above and (ii)&nbsp;an additional
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million representing the
cumulative impact of prior expense related to the vested portion of pre-IPO Class&nbsp;B interests, between accumulated deficit, representing controlling interest of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% and
non-controlling interest of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%.

<BR><BR></FONT></DD>

<DT style='font-family:arial;margin-bottom:-11pt;'><BR></DT><DD style="font-family:arial;"><FONT SIZE=2>We
applied ASC 718, </FONT><FONT SIZE=2><I>Compensation&nbsp;&#151; Stock Compensation</I></FONT><FONT SIZE=2>, in accounting for the
Class&nbsp;B interests and stock option awards. Share-based compensation expense relating to Class&nbsp;B interests, which is recognized over a four-year service period and only upon the
occurrence of an initial public offering, was determined using the fair value at the date of grant based on the equity value of Virtu Financial through the application of the Black-Scholes-Merton
model. The volatility assumption used in the Black-Scholes-Merton model was based on the historical volatilities of comparable companies for a period equal to the estimated time until the liquidity
event.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><BR></DT><DD style="font-family:arial;"><FONT SIZE=2>Share-based
compensation expense relating to the stock options, which is recognized over a four-year service period, was determined using the
fair value at the date of grant through the application of the Black-Scholes-Merton model, using the midpoint of the estimated public offering price range set forth on the cover page of this
prospectus, the expected dividend rate, the risk-free interest rate and the "simplified" method in accordance Staff Accounting Bulletin No.&nbsp;110 to determine the expected term. The volatility
assumption used in the Black-Scholes-Merton model was based on the historical volatilities of comparable companies.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Reflects
a&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% per annum reduction in the interest rate applicable to the outstanding term loan balance under our senior secured credit
facility upon the consummation of this offering.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(c)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Represents
the additional current income tax expense for the period based on an effective income tax rate of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%, determined based on the U.S.
federal income tax rate applicable to corporations of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%, less the rate attributable to non-controlling interest
of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%, plus any state, local and foreign taxes net of
federal tax benefit of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%. After giving effect to the adjustments for the reorganization transactions and this offering, the additional current income tax provision (benefit)
on our
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% interest in Virtu Financial will be $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million and
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million, respectively, for the year ended December 31, 2014.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(d)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Represents
the portion of the stockholder's equity owned by the current members of Virtu Financial after the reorganization transactions and this offering.
The amount of net income </FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>75</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=80,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=595949,FOLIO='75',FILE='DISK108:[13ZDI1.13ZDI16701]DC16701A.;141',USER='AGAETZ',CD='23-MAR-2015;11:12' -->
<A NAME="page_dc16701_1_76"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial,&nbsp;Inc. and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> Notes to Unaudited Pro Forma Financial Information </B></FONT></P>

<UL>

<P style="font-family:arial;"><FONT SIZE=2>attributable
to the non-controlling interest and the portion of stockholder's equity is based on the non-controlling interest of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%.  </FONT></P>

</UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(e)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>The
weighted average number of shares underlying the basic earnings per share calculation reflects only the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common
stock outstanding after the offering as they are the only outstanding shares which participate in the economics of Virtu Financial,&nbsp;Inc. The weighted average number of shares underlying the
diluted earnings per share calculation similarly reflects the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock outstanding after the offering but does not
include the conversion of the
Class&nbsp;A common stock options as they were deemed to have an anti-dilutive impact at this time. Additionally, the conversion of Class&nbsp;C and Class&nbsp;D common shares would not have a
dilutive effect on earnings per share as net income attributable to controlling interests would increase proportionately with each conversion.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(f)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>The
following sets forth the estimated sources and uses of funds in connection with the reorganization transactions and this offering, assuming the issuance
of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock at a price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share
(the midpoint of the estimated public offering price range set forth on the cover of this
prospectus):</FONT><FONT SIZE=2>
<BR><BR></FONT>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Sources: </FONT> <FONT SIZE=2>
<BR><BR></FONT>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million gross cash proceeds to us from the offering of Class&nbsp;A common stock. </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD></DL>
</DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Uses: </FONT> <FONT SIZE=2>

<BR><BR></FONT>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'>

<FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>we will use $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million to pay underwriting discounts and commissions and other offering expenses
(which will be borne by Virtu Financial through a reduction in the contributions described immediately below);

 </FONT>

<FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>we will contribute $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million to Virtu Financial in exchange for a number of Virtu Financial
Units
equal to the contribution amount divided by the price paid by the underwriters for shares of our Class&nbsp;A common stock in this offering;  </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>we will use $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million to purchase Class&nbsp;A common stock from the Silver Lake Post-IPO
Stockholder at a net price equal to the price paid by the underwriters for shares of our Class&nbsp;A common stock; and </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>we will use $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million to purchase Virtu Financial Units and corresponding shares of
Class&nbsp;C
common stock from certain of the Virtu Post-IPO Members, including certain members of management, at a net price equal to the price paid by the underwriters for shares of our Class&nbsp;A common
stock.
<BR><BR></FONT></DD></DL>
</DD></DL>
</DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(g)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Reflects
the 2015 Distributions, which consist of (i)&nbsp;cash distributions by Virtu Financial to the Virtu Pre-IPO Members in an aggregate amount of
$50.0&nbsp;million in January 2015, $20.0&nbsp;million in February 2015 and $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million in March 2015 (funded from cash on hand) and (ii)&nbsp;anticipated cash
distributions
by Virtu Financial to the Virtu Pre-IPO Members in an aggregate amount of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million, following the consummation of this offering, as of a record date prior to the commencement of the
reorganization transactions. We expect that the anticipated cash distributions to the Virtu Pre-IPO Members following the consummation of this offering will be funded from cash on hand, which was
approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million as of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2015
(after giving effect to the distributions in January, February and March 2015). </FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>76</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=81,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=879886,FOLIO='76',FILE='DISK108:[13ZDI1.13ZDI16701]DC16701A.;141',USER='AGAETZ',CD='23-MAR-2015;11:12' -->
<A NAME="page_dc16701_1_77"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial,&nbsp;Inc. and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> Notes to Unaudited Pro Forma Financial Information </B></FONT></P>

<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(h)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Reflects
the effects on additional paid-in capital relating to the following ($ in thousands): </FONT></DD></DL>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="59pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Gross proceeds from offering of Class&nbsp;A common stock</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Payment of underwriting discounts and commissions in connection with this offering</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Purchase of Class&nbsp;A common stock from Silver Lake Post-IPO Stockholder</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Purchase of Virtu Financial Units and shares of Class&nbsp;C common stock from certain Virtu Post-IPO Members</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Vesting of pre-IPO Class&nbsp;B interests in Virtu Financial upon the consummation of this offering</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Reclassification of costs incurred in this offering from other assets to additional paid-in capital</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Reflects
adjustment to give effect to $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million of amortizable tax basis related to amounts recognized as taxable income by the
current sellers of Virtu Financial. In addition, a wholly owned subsidiary of ours will succeed to an affiliate of Silver Lake Partners' and Temasek's, and the Temasek Pre-IPO Member's remaining tax
basis that similarly arose on account of taxable income recognized by past sellers of Virtu Financial. The total tax benefit expected in connection with the amortization of this tax basis is
approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million, which is amortized over 15&nbsp;years pursuant to Section&nbsp;197 of the Internal Revenue Code (the "Code"). We have entered into an
agreement with
the Virtu Pre-IPO Members to pay them 85% of the tax savings (or $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million) as the tax reduction is realized by us and the obligation to make those payments has been
recognized
as a liability (referred to as "TRA liability") and is included in accounts payable, accrued expenses and other liabilities in our pro forma condensed consolidated statement of financial condition.
While the total tax benefit is $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million, the amount that can be recognized as a deferred tax asset is a lesser amount due to the Madison Tyler Transactions that
resulted in the
recognition of goodwill for financial reporting purposes that had no corresponding tax basis within Virtu Financial. When determining the amount to recognize as a deferred tax asset, the tax basis in
the units that results in the tax benefit of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million must be compared to the financial reporting basis in Virtu Financial units, which includes this historical
financial
reporting (but not tax) goodwill, resulting in the deferred tax asset being $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million instead of the total tax benefit of
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million. The
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million difference between the deferred tax asset recognized and the TRA liability is recorded as a reduction in additional paid-in-capital.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(j)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Reflects
adjustments to give effect to (i)&nbsp;the reclassification of Virtu Financial's Class&nbsp;A-1 redeemable interests, Class&nbsp;A-1
interests and Class&nbsp;A-2 interests into&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu Financial Units and (ii)&nbsp;the subscription for and
purchase of (x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;corresponding shares of
Class&nbsp;D common stock by the Founder Post-IPO Member and (y)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;corresponding shares of Class&nbsp;C common stock, in each case at a
purchase price of $0.00001 per share.
Remaining value is included as part of non-controlling interest. </FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>77</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=82,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=391120,FOLIO='77',FILE='DISK108:[13ZDI1.13ZDI16701]DC16701A.;141',USER='AGAETZ',CD='23-MAR-2015;11:12' -->
<A NAME="page_dc16701_1_78"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial,&nbsp;Inc. and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> Notes to Unaudited Pro Forma Financial Information </B></FONT></P>

<UL>

<P style="font-family:arial;"><FONT SIZE=2>The
effects on non-controlling interests relate to the following ($ in thousands): </FONT></P>

</UL>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="59pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Reclassification of Class&nbsp;A-1 redeemable membership interests into Virtu Financial Units</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Reclassification of Class&nbsp;A-1 membership interests into Virtu Financial Units</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Reclassification of Class&nbsp;A-2 membership interests into Virtu Financial Units</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Reclassification of accumulated deficit attributable to the Virtu Pre-IPO members</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Reclassification to additional paid-in capital</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(k)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Reflects
adjustments to give effect to the Mergers, in which we will acquire&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu Financial Units in exchange for
issuing&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
shares of Class&nbsp;A common stock, and rights to receive payments under a tax receivable agreement, to the Investor Post-IPO Stockholders. </FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>78</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=83,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=356827,FOLIO='78',FILE='DISK108:[13ZDI1.13ZDI16701]DC16701A.;141',USER='AGAETZ',CD='23-MAR-2015;11:12' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_de16701_1_79"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="de16701_selected_consolidated_financial_data"> </A>
<A NAME="toc_de16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  SELECTED CONSOLIDATED FINANCIAL DATA    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table sets forth selected historical consolidated financial data of Virtu Financial for the periods beginning on and
after January&nbsp;1, 2012. We were formed on October&nbsp;16, 2013 and have not, to date, conducted any activities other than those incident to our formation and the preparation of this
prospectus and the registration statement of which this prospectus forms&nbsp;a part. The selected historical consolidated financial data presented below as of and for the years ended
December&nbsp;31, 2014, 2013 and 2012 have been derived from Virtu Financial's audited financial statements included elsewhere in this prospectus. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You
should read the following information in conjunction with "Capitalization," "Unaudited Pro Forma Financial Information," "Management's Discussion and Analysis of Financial Condition
and Results of Operations" and our and Virtu Financial's respective audited consolidated financial statements and related notes thereto included elsewhere in this prospectus. </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="59pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="54pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="54pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Years Ended Dec.&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><B>(In thousands)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:19pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2014

<!-- COMMAND=ADD_SCROPPEDRULE,19pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:19pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2013


<!-- COMMAND=ADD_SCROPPEDRULE,19pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:19pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2012

<!-- COMMAND=ADD_SCROPPEDRULE,19pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Consolidated Statements of Comprehensive Income Data:</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Revenues</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Trading income, net</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">685,150</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">623,733</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">581,476</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Interest and dividends income</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">27,923</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">31,090</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">34,152</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Technology services</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">9,980</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">9,682</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Total revenues</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">723,053</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">664,505</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">615,628</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:9pt;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Operating Expenses</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Brokerage, exchange and clearance fees, net</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">230,965</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">195,146</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">200,587</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Communication and data processing</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">68,847</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">64,689</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">55,384</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Employee compensation and payroll taxes</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">84,531</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">78,353</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">63,836</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Interest and dividends expense</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">47,083</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">45,196</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">48,735</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Operations and administrative</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">21,923</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">27,215</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">27,826</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Depreciation and amortization</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">30,441</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">23,922</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">17,975</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Amortization of purchased intangibles and acquired capitalized software</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">211</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,011</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">71,654</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Acquisition cost</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">69</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Acquisition related retention bonus</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">2,639</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">6,705</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">6,151</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Impairment of intangible assets</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,489</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Lease abandonment</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">6,134</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Debt issue cost related to debt refinancing(1)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">10,022</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Initial public offering fees and expenses</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">8,961</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Transaction advisory fees and expenses</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">3,000</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Financing interest expense on senior secured credit facility</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">30,894</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">24,646</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">26,460</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Total operating expenses</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">529,495</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">476,905</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">526,300</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Income before income taxes</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">193,558</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">187,600</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">89,328</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Provision for income taxes</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">3,501</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">5,397</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,768</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Net income</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">190,057</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">182,203</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">87,560</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Other Comprehensive Income, Net of Taxes</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Foreign exchange translation adjustment</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(5,032</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,382</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">548</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Comprehensive income</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">185,025</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">183,585</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">88,108</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;<BR></FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="54pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="54pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="54pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>As of Dec.&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="CENTER" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:19pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2014

<!-- COMMAND=ADD_SCROPPEDRULE,19pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:19pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2013

<!-- COMMAND=ADD_SCROPPEDRULE,19pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Consolidated Statements of Financial Condition Data:</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Cash and cash equivalents</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">75,864</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">66,010</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Total assets</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">3,324,561</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">3,963,570</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Senior secured credit facility</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">500,827</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">507,725</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Total liabilities</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">2,817,863</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">3,510,282</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Class&nbsp;A-1 redeemable interest(2)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">294,433</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">250,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Total Members'/shareholders' equity</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">212,265</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">203,288</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->


<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" >
 </DIV>
<DIV style="padding:0pt;position:relative;text-align:left;margin-left:10%;">
 <DL compact>
<DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(1)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">In
connection with the Madison Tyler Transactions, Virtu Financial entered into a $320.0&nbsp;million senior secured credit facility, which was
subsequently refinanced. A portion of certain financing costs incurred in connection with the original credit facility that were scheduled to be amortized over the five-year term of the loan,
including original issue discount and underwriting and legal fees, were accelerated and recognized at the closing of the refinancing.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(2)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">The
Class&nbsp;A-1 interests of Virtu Financial are convertible by the holders at any time into an equivalent number of Class&nbsp;A-2 capital interests
of Virtu Financial and, in a sale or other specified capital transaction, holders are entitled to receive distributions up to specified preference amounts before holders of Class&nbsp;A-2 capital
interests of Virtu Financial are entitled to receive distributions. In connection with the reorganization transactions, all of the existing equity interests in Virtu Financial will be reclassified
into Virtu Financial Units. See "Organizational Structure&nbsp;&#151; The Reorganization Transactions." </FONT></DD></DL>
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>79</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=84,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=285965,FOLIO='79',FILE='DISK108:[13ZDI1.13ZDI16701]DE16701A.;93',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_dg16701_1_80"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="dg16701_management_s_discussion_and_an__man03466"> </A>
<A NAME="toc_dg16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  MANAGEMENT'S DISCUSSION AND ANALYSIS OF<BR>  FINANCIAL CONDITION AND RESULTS OF OPERATIONS    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=2><I>The following management's discussion and analysis of our financial condition and results of operations covers
the years ended December&nbsp;31, 2014, 2013 and 2012. You should read the following discussion together with our and Virtu Financial's audited consolidated financial statements and related notes
thereto included elsewhere in this prospectus. This discussion contains forward-looking statements that are subject to certain risks and uncertainties. Actual results and timing of events could differ
materially from those discussed in or implied by these forward-looking statements as a result of various factors, including those discussed below and elsewhere in this prospectus. See "Risk Factors"
and "Forward-Looking Statements."</I></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="dg16701_overview"> </A>
<A NAME="toc_dg16701_2"> </A>
<BR></FONT><FONT SIZE=2><B>  Overview    <BR>    </B></FONT></P>

<P style="font-family:arial;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu is a leading technology-enabled market maker and liquidity provider to the global financial markets. We stand ready, at any
time, to buy or sell a broad range of securities and other financial instruments, and we generate revenue by buying and selling large volumes of securities and other financial instruments and earning
small bid/ask spreads on individual transactions. We make markets by providing quotations to buyers and sellers in more than 11,000 securities and other financial instruments on more than 225 unique
exchanges, markets and liquidity pools in 34&nbsp;countries around the world. We believe that our broad diversification, in combination with our proprietary technology platform and low-cost
structure, enables us to facilitate risk transfer between global capital markets participants by supplying liquidity and competitive pricing while at the same time earning attractive margins and
returns.

 </FONT>

</P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
believe that market makers like us serve an important role in maintaining and improving the overall health and efficiency of the global capital markets by continuously posting bids
and offers for securities and other financial instruments and thereby providing to market participants an efficient means to transfer risk. Market participants benefit from the increased liquidity,
lower overall trading costs and execution certainty that we provide. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
refer to our market making activities as being "market neutral," which means that we are not dependent on the direction of any particular market and we do not speculate. Our market
making activities are designed to minimize capital at risk at any given time by limiting the notional size of our positions. Our strategies are also designed to lock in returns through precise hedging
in the primary instrument or in one or more economically equivalent instruments, as we seek to eliminate the price risk in any positions held. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
revenue generation is driven primarily by transaction volume across a broad range of securities and other financial instruments, asset classes and geographies. We avoid the risk of
long or short positions in favor of earning small bid/ask spreads on large trading volumes across thousands of securities and financial instruments. We also generate revenue from interest and
dividends on securities that we hold from time to time in connection with our market making activities and, beginning in 2013, from the sale of licensed technology and related services. Our revenues
are also impacted by levels of volatility in a given period. Increases in market volatility can cause bid/ask spreads to widen as market participants are willing to incur greater costs to transact,
which we benefit from. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu
Financial was formed as a Delaware limited liability company on April&nbsp;8, 2011 in connection with the Madison Tyler Transactions, when the members of Virtu Financial's
predecessor entity, Virtu East, which was formed and commenced operations on March&nbsp;19, 2008, exchanged their interests in Virtu East for interests in Virtu Financial. On July&nbsp;8, 2011, we
completed our acquisition of
Madison Tyler Holdings, which was co-founded by Mr.&nbsp;Vincent Viola, our Founder and Executive Chairman. Madison Tyler Holdings was an electronic trading firm and market maker on </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>80</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=85,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=768978,FOLIO='80',FILE='DISK108:[13ZDI1.13ZDI16701]DG16701A.;187',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_dg16701_1_81"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>numerous
exchanges and electronic marketplaces in equities, fixed income, currencies and commodities, and the Madison Tyler Transactions expanded our geographic and product market as well as our
market penetration in existing markets. On December&nbsp;9, 2011, we acquired the DMM business of Cohen Capital Group ("CCG"), giving us the right to act as a DMM in 258 symbols on the NYSE and NYSE
MKT (formerly NYSE Amex). On September&nbsp;14, 2012, we acquired the European ETF market making assets of Nyenburgh, which include market making relationships with European ETF issuers and trading
relationships with over-the-counter counterparties. Virtu Financial is a holding company that conducts its business through its operating subsidiaries. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We believe that the key variable that impacts our revenues most strongly is the overall level of volumes in the various markets we serve. We make markets in more than 11,000 listed
securities and other financial instruments on more than 225 unique exchanges, markets and liquidity pools in 34&nbsp;countries around the world, and we generate revenue by earning small bid/ask
spreads on large trading volumes. We believe that the most relevant asset class distinctions and venues for the markets we serve include the following:

 </FONT></P>
 <DIV style="padding:0pt;position:relative;width:100%;margin-left:0%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="48%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="48%" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:69pt;"><FONT SIZE=2><B>Asset Classes

<!-- COMMAND=ADD_SCROPPEDRULE,69pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:214pt;"><FONT SIZE=2><B>Selected Venues in Which We Make Markets

<!-- COMMAND=ADD_SCROPPEDRULE,214pt -->

 </B></FONT></DIV></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2>Americas Equities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>NYSE, NASDAQ, DirectEdge, NYSE Arca, NYSE MKT, BATS, IEX, TMX, ICE, CME, BM&amp;F Bovespa, major private liquidity pools</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD style="font-family:arial;"><BR><FONT SIZE=2>EMEA Equities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>LSE, Deutsche Boerse, NASDAQ OMX, NYSE Euronext, Eurex, Chi-X, BME, XETRA, NYSE Liffe, Turquoise, Borsa Italiana, SIX Swiss Exchange, Johannesburg Stock Exchange</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD style="font-family:arial;"><BR><FONT SIZE=2>APAC Equities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>TSE, SGX, OSE, SBI Japannext, TOCOM</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD style="font-family:arial;"><BR><FONT SIZE=2>Global&nbsp;Commodities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>CME, ICE, TOCOM, SGX, NYSE Liffe, EBS</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD style="font-family:arial;"><BR><FONT SIZE=2>Global&nbsp;Currencies</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>CME, ICE, Currenx, EBS, HotSpot, Reuters, FXall, LMAX</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD style="font-family:arial;"><BR><FONT SIZE=2>Options, Fixed Income and Other Securities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>CBOE, PHLX, NYSE Arca Options, eSpeed, BOX, BrokerTec</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2><B> Components of Our Results of Operations  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following discussion sets forth certain components of our consolidated statements of comprehensive income as well as factors that
impact such components. We present our results under one reportable segment, which is consistent with our structure and how we manage our business. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I> Total Revenues  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The majority of our revenues are generated through market making activities and are recorded as trading income. In addition, we
generate revenues from interest and dividends income as well as the sale of licensed technology and related services. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trading Income, Net.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Trading income, net, represents revenue earned from bid/ask spreads. Trading income is
generated in the normal course of our
market making activities and is typically proportional to the level of trading activity, or volumes, in the asset classes we serve. Our trading income is highly diversified by asset class and
geography and is comprised of small amounts earned on millions of trades on various exchanges, primarily in Americas, EMEA and APAC equities, global currencies, global commodities, including energy
and metals, and options, fixed income and </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>81</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=86,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=625598,FOLIO='81',FILE='DISK108:[13ZDI1.13ZDI16701]DG16701A.;187',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_dg16701_1_82"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>other
securities. Trading income, net, includes trading income earned from bid/ask spreads. Our trading income, net, results from gains and losses associated with economically neutral trading
strategies, which are designed to capture small bid ask spreads and often involve making markets in a derivative versus a correlated instrument that is not a derivative. These transactions often
result in a gain or loss on the derivative and a corresponding loss or gain on the non-derivative. Trading income, net, accounted for approximately 95%, 94% and 94% of our total revenues for the years
ended December&nbsp;31, 2014, 2013 and 2012, respectively. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest and Dividends Income.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Our market making activities require us to hold an inventory of securities on a
regular basis, and we generate
revenues in the form of interest and dividends income from these securities. Interest is earned on securities borrowed from other market participants pursuant to collateralized financing arrangements
and on cash held by brokers. Dividends income arises from holding market making positions over dates on which dividends are paid to shareholders of record. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Technology Services.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;We began providing technology services to a third party in 2013 pursuant to a three-year
arrangement. Technology services
revenues represent fees charged for the licensing of
our proprietary technology and the provision of related services, including hosting, management and support. These fees generally include an up-front component and a recurring fee for the relevant
term. Revenue is recognized ratably for these services over the contractual term of the agreement. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I> Adjusted Net Trading Income  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjusted Net Trading Income is the amount of revenue we generate from our market making activities, or trading income, net, plus
interest and dividends income and expense, net, less direct costs associated with those revenues, including brokerage, exchange and clearance fees, net. Rather than analyzing these components of our
operating results individually, we generally view them on an aggregate net basis in the context of Adjusted Net Trading Income. Adjusted Net Trading Income is a non-GAAP financial measure. Our total
Adjusted Net Trading Income is the primary metric used by management in evaluating performance, making strategic decisions and allocating resources, and the primary factor influencing Adjusted Net
Trading Income is overall market volume levels in securities and other financial instruments. Management believes that the presentation of Adjusted Net Trading Income provides useful information to
investors regarding our results of operations because it assists both investors and management in analyzing and benchmarking the performance and value of our business. Adjusted Net Trading Income
provides an indicator of the performance of our market making activities that is not affected by revenues or expenses that are not directly associated with such activities. Accordingly, management
believes that this measurement is useful for comparing general operating performance from period to period. Although we use Adjusted Net Trading Income as a financial measure to assess the performance
of our business, the use of Adjusted Net Trading Income is limited because it does not include certain material costs that are necessary to operate our business. Adjusted Net Trading Income should be
considered in addition to, and not as a substitute for, trading income, net, in accordance with U.S.&nbsp;GAAP as a measure of performance. Our presentation of Adjusted Net Trading Income should not
be construed as an indication that our future results will be unaffected by revenues or expenses that are not directly associated with our market making activities. Adjusted Net Trading Income is
limited as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our results as reported under U.S.&nbsp;GAAP. Our U.S.&nbsp;GAAP-based measures can be
found in our consolidated financial statements and related notes included elsewhere in this prospectus. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>82</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=87,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=980237,FOLIO='82',FILE='DISK108:[13ZDI1.13ZDI16701]DG16701A.;187',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_dg16701_1_83"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table shows our percentage of Adjusted Net Trading Income by asset class for the years ended December&nbsp;31, 2014, 2013 and 2012. </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="47pt" style="font-family:arial;"></TD>
<TD WIDTH="30pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="47pt" style="font-family:arial;"></TD>
<TD WIDTH="30pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="47pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>Percentage of Adjusted Net<BR>
Trading Income by&nbsp;Asset&nbsp;Class </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>Years&nbsp;Ended&nbsp;Dec.&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>2014 </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>2013 </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>2012 </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Americas Equities(1)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>26</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>27</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>30</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>EMEA Equities</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>12</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>11</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>13</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>APAC Equities</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>7</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>11</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>11</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Global Commodities</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>21</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>23</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>26</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Global Currencies</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>25</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>20</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>14</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Options, Fixed Income and Other Securities</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>10</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>9</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>7</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Unallocated(2)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2> (1</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2> (1</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2> (1</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)%</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total Adjusted Net Trading Income</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>100</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>100</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>100</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->


<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" >
 </DIV>
<DIV style="padding:0pt;position:relative;text-align:left;margin-left:10%;">
 <DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>In
2014, 2013 and 2012, our percentage of Adjusted Net Trading Income for Americas Equities consisted of 20%, 20% and 24% attributable to U.S. equities and
6%, 7% and 6% attributable to Canadian and Latin American equities, respectively.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Under
our methodology for recording "trading income, net" in our consolidated statements of comprehensive income, we recognize revenues based on the exit
price of assets and liabilities in accordance with applicable U.S.&nbsp;GAAP rules, and when we calculate Adjusted Net Trading Income for corresponding reporting periods, we start with trading
income, net, so calculated. By contrast, when we calculate Adjusted Net Trading Income by asset class, we do so on a daily basis, and as a result prices used in recognizing revenues may differ.
Because we provide liquidity on a global basis, across asset classes and time zones, the timing of any particular Adjusted Net Trading Income calculation can effectively defer or accelerate revenue
from one day to another or one reporting period to another, as the case may be. We do not allocate any resulting differences based on the timing of revenue recognition. </FONT></DD></DL>
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2><B><I> Operating Expenses  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brokerage, Exchange and Clearance Fees, Net.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Brokerage, exchange and clearance fees are our most significant expense
and include the direct expenses
of executing and clearing transactions we consummate in the course of our market making activities. Brokerage, exchange and clearance fees include fees paid to various prime brokers, exchanges and
clearing firms for services such as execution of transactions, prime brokerage fees, access fees and clearing expenses. These expenses generally increase and decrease in direct correlation with our
volumes and the level of trading activity in the markets we serve. Execution fees are paid primarily to electronic exchanges and venues where we trade. Clearance fees are paid to clearing houses and
clearing agents. Rebates based on volume discounts, credits or payments received from exchanges or other market places are netted against brokerage, exchange and clearance fees. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication and Data Processing.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Communication and data processing represent primarily fixed expenses for leased
equipment, equipment co-location,
network lines and connectivity for our trading centers and co-location facilities. More specifically, communications expense consists primarily of the cost of voice and data telecommunication lines
supporting our business, including connectivity to data centers and exchanges, markets and liquidity pools around the world, and data processing expense consists primarily of market data fees that we
pay to third parties to receive price quotes and related information. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>83</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=88,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=228139,FOLIO='83',FILE='DISK108:[13ZDI1.13ZDI16701]DG16701A.;187',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_dg16701_1_84"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employee Compensation and Payroll Taxes.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Employee compensation and payroll taxes include employee salaries, cash
incentive compensation, employee
benefits, payroll taxes, severance and other employee related costs. Non-cash compensation includes the stock-based-incentive compensation paid to employees in the form of Class&nbsp;A-2 profits
interests in Virtu Employee Holdco,
which holds corresponding Class&nbsp;A-2 profits interests in Virtu Financial. Upon the consummation of this offering, the Class&nbsp;A-2 profits interests in Virtu Employee Holdco will convert
into common units of Virtu Employee Holdco, and the corresponding Class&nbsp;A-2 profits interests in Virtu Financial that are held by Virtu Employee Holdco, together with all other equity interests
in Virtu Financial will convert into Virtu Financial Units. We have capitalized and excluded from this calculation employee compensation and benefits related to software development of
$9.8&nbsp;million, $10.1&nbsp;million and $11.2&nbsp;million for the years ended December&nbsp;31, 2014, 2013 and 2012, respectively. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest and Dividends Expense.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;We incur interest expense from loaning certain equity securities in the general
course of our market making
activities pursuant to collateralized lending transactions. Typically, dividend expense is incurred when a dividend is paid on securities sold short. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operations and Administrative.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Operations and administrative expense represents occupancy, recruiting, travel and
related expense, professional fees
and other expenses. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and Amortization.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization expense results from the depreciation of fixed assets,
such as computing and
communications hardware, as well as amortization of leasehold improvements and capitalized in-house software development. We depreciate our computer hardware and related software, office hardware and
furniture and fixtures on a straight line basis over a period of 3 to 7&nbsp;years based on the estimated useful life of the underlying asset, and we amortize our capitalized software development
costs on a straight line basis over a period of 1.4 to 2.5&nbsp;years, which represents the estimated useful lives of the underlying software. We amortize leasehold improvements on a straight line
basis over the lesser of the life of the improvement or the term of the lease. Intangible assets with definite lives, including purchased intangibles, are amortized over their useful lives, ranging
from 1.4 to 9&nbsp;years. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of Purchased Intangibles and Acquired Capitalized Software.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Amortization of purchased intangibles and
acquired capitalized software
consists primarily of the amortization of $110&nbsp;million of assets purchased in the Madison Tyler Transactions. $108&nbsp;million of these assets were amortized based on useful lives of
1.4&nbsp;years and were fully amortized as of December&nbsp;31, 2012. $2&nbsp;million of the purchased intangibles were amortized on useful lives of 2.5&nbsp;years and were fully amortized as
of December&nbsp;31, 2013. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquisition Cost.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;From time to time we have pursued and may, in the future, pursue strategic
mergers, acquisitions or other corporate transactions as part of our growth strategy. The pursuit of such transactions generally results in the incurrence of professional, advisory and other related
expenses in connection with the due diligence, negotiation and consummation of such transactions. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquisition Related Retention Bonus.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;In connection with the Madison Tyler Transactions, we established a
$21.5&nbsp;million retention bonus plan
for Madison Tyler Holdings employees, to be paid out in five installments through July&nbsp;8, 2014. This expense is amortized on a straight line basis and, in the absence of changes in the amounts
capitalized as related to software development, the expense is consistent over equivalent periods. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Initial Public Offering Fees and Expenses.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Initial public offering fees and expenses reflect costs directly
attributable to the Company's initial
public offering process, which was postponed in </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>84</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=89,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=787185,FOLIO='84',FILE='DISK108:[13ZDI1.13ZDI16701]DG16701A.;187',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_dg16701_1_85"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>April
2014. The Company accounted for such costs in accordance with ASC 340-10, </FONT><FONT SIZE=2><I>Other Assets and Deferred Costs</I></FONT><FONT SIZE=2>. ASC 340 states that costs directly
attributable to a successfully completed offering of equity securities may be deferred and charged against the gross proceeds of the offering as a reduction of additional paid-in capital, but for an
offering postponed for a period greater than 90&nbsp;days, the offering costs must be charged as an expense in the period the offering process was postponed. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transaction Advisory Fees and Expenses.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Transaction advisory fees and expenses reflect professional fees incurred by
the Company in connection with
the Temasek Transaction, which was consummated on December&nbsp;31, 2014. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment of Intangible Assets.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;We test intangible assets for impairment annually or when impairment indicators are
present, and if they are
impaired, intangible assets are written down to fair value. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lease Abandonment.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;From time to time, based on changes in technology or our business needs, we may abandon leased
properties or equipment in favor
of more optimal technology, or assets and, as a result, may incur charges representing the acceleration of depreciation, amortization or contractual commitments. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Debt Issue Costs Related to Debt Refinancing.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The refinancing of our senior secured credit facility or any other
indebtedness has and, may in the
future result in the acceleration of debt issue costs incurred at issuance and originally scheduled to be amortized over the life of the loan. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financing Interest Expense on Senior Secured Credit Facility.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Financing interest expense reflects interest accrued
on outstanding indebtedness,
under our senior secured credit facility. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Non-Controlling Interest  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the reorganization transactions, we will be appointed as the sole managing member of Virtu Financial pursuant to
Virtu Financial's limited liability company agreement. Because we will manage and operate the business and control the strategic decisions and day-to-day operations of Virtu Financial and will also
have a substantial financial interest in Virtu Financial, we will consolidate the financial results of Virtu Financial, and a portion of our net income (loss) will be allocated to the non-controlling
interest to reflect the entitlement of the Virtu Post-IPO Members to a portion of Virtu Financial's net income (loss). We will hold approximately&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the outstanding Virtu Financial
Units (or approximately&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the outstanding Virtu Financial Units if the underwriters exercise their option to purchase additional shares in full), and the remaining Virtu Financial
Units will be held by the Virtu Post-IPO Members. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Provision for Income Taxes  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our business was historically operated through a limited liability company that was treated as a partnership for U.S. federal income
tax purposes, and as such most of our income was not subject to U.S. federal and was subject to certain state income taxes. Our income tax expense for historical periods reflects taxes payable by
certain of our non-U.S. subsidiaries. Prior to the completion of this offering, as a result of the reorganization transactions,
we will become subject to U.S federal and certain state taxes applicable to entities treated as corporations for U.S. federal income tax purposes on taxable income attributable to the Company's
controlling interest in Virtu Financial. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>85</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=90,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=979497,FOLIO='85',FILE='DISK108:[13ZDI1.13ZDI16701]DG16701A.;187',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_dg16701_1_86"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I> Future Public Company Expenses  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We expect our operating expenses to increase when we become a public company following this offering. We expect our accounting, legal
and personnel-related expenses and directors' and officers' insurance costs to increase as we establish more comprehensive compliance and governance functions, maintain and review internal controls
over financial reporting in accordance with Sarbanes-Oxley and prepare and distribute periodic reports as required by the rules and regulations of the SEC. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
a result of a recently entered into office lease agreement with a commencement date of January&nbsp;16, 2015, we plan to vacate our current office space and are in the process of
determining the financial impact of the termination of our existing lease, but we estimated that we could recognize a maximum loss of approximately $3.0&nbsp;million associated with the early
termination. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Results of Operations  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The table below sets forth our historical consolidated results of operations in thousands of dollars for the years ended
December&nbsp;31, 2014, 2013 and 2012. </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="73pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="73pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="73pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>Years Ended December&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2><B>(In thousands)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:21pt;"><FONT SIZE=2><B>2014

<!-- COMMAND=ADD_SCROPPEDRULE,21pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:21pt;"><FONT SIZE=2><B>2013


<!-- COMMAND=ADD_SCROPPEDRULE,21pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:21pt;"><FONT SIZE=2><B>2012

<!-- COMMAND=ADD_SCROPPEDRULE,21pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Consolidated Statements of Comprehensive Income Data:</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Revenues:</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Trading income, net</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>685,150</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>623,733</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>581,476</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Interest and dividend income</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>27,923</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>31,090</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>34,152</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Technology services</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>9,980</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>9,682</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total revenue</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>723,053</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>664,505</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>615,628</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Operating Expenses:</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Brokerage, exchange and clearance fees, net</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>230,965</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>195,146</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>200,587</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Communication and data processing</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>68,847</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>64,689</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>55,384</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Employee compensation and payroll taxes</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>84,531</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>78,353</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>63,836</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Interest and dividends expense</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>47,083</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>45,196</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>48,735</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Operations and administrative</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>21,923</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>27,215</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>27,826</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Depreciation and amortization</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>30,441</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>23,922</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>17,975</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Amortization of purchased intangibles and acquired capitalized software</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>211</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,011</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>71,654</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Acquisition cost</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>69</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Acquisition related retention bonus</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2,639</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>6,705</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>6,151</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Impairment of intangible assets</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,489</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Lease abandonment</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>6,134</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Debt issue cost related to debt refinancing</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>10,022</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Initial public offering fees and expenses</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>8,961</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Transaction advisory fees and expenses</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>3,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Financing interest expense on senior secured credit facility</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>30,894</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>24,646</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>26,460</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total operating expenses</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>529,495</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>476,905</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>526,300</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Income before income taxes</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>193,558</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>187,600</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>89,328</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Provision for income taxes</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>3,501</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>5,397</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,768</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net income</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>190,057</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>182,203</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>87,560</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>86</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=7,SEQ=91,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=509242,FOLIO='86',FILE='DISK108:[13ZDI1.13ZDI16701]DG16701A.;187',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_dg16701_1_87"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="73pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="73pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="73pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>Years Ended December&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2><B>(In thousands)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:21pt;"><FONT SIZE=2><B>2014

<!-- COMMAND=ADD_SCROPPEDRULE,21pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:21pt;"><FONT SIZE=2><B>2013


<!-- COMMAND=ADD_SCROPPEDRULE,21pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:21pt;"><FONT SIZE=2><B>2012

<!-- COMMAND=ADD_SCROPPEDRULE,21pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Other Comprehensive Income, net of taxes:</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Foreign exchange translation adjustment</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(5,032</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,382</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>548</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Comprehensive income</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>185,025</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>183,585</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>88,108</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Percentage of Total Revenues:</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Revenues:</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Trading income, net</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>95</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>94</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>94</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Interest and dividends income</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>4</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>5</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>6</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Technology services</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total revenue</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>100</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>100</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>100</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Operating Expenses:</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Brokerage, exchange and clearance fees, net</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>32</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>29</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>33</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Communication and data processing</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>10</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>10</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>9</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Employee compensation and payroll taxes</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>12</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>12</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>10</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Interest and dividends expense</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>7</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>7</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>8</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Operations and administrative</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>3</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>4</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>5</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Depreciation and amortization</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>4</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>4</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>3</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Amortization of purchased intangibles and acquired capitalized software</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>12</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Acquisition related retention bonus</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Lease abandonment</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Debt issue cost related to debt refinancing</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Initial public offering fees and expenses</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Transaction advisory fees and expenses</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Financing interest expense on senior secured credit facility</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>4</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>4</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>4</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total operating expenses</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>74</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>73</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>86</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Income before income taxes</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>26</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>27</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>14</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Provision for income taxes</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net income</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>25</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>26</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>13</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2><B><I> Year Ended December&nbsp;31, 2014 Compared to Year Ended December&nbsp;31, 2013  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> Total Revenues  </I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our total revenues increased $58.6&nbsp;million, or 8.8%, to $723.1&nbsp;million for the year ended December&nbsp;31, 2014,
compared to $664.5&nbsp;million for the year ended December&nbsp;31, 2013. This increase was primarily attributable to an increase in trading income, net, of $61.5&nbsp;million, a decrease in
interest and dividends income of $3.2&nbsp;million and $0.3&nbsp;million increase in revenues generated from our initial deployment and delivery of technology services in February 2013. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> Adjusted Net Trading Income  </I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjusted Net Trading Income increased $20.5&nbsp;million, or 5.0%, to $435.0&nbsp;million for the year ended December&nbsp;31,
2014, compared to $414.5&nbsp;million for the year ended December&nbsp;31, 2013. This increase was primarily attributable to the increased scale and diversification of our trading compared to the
prior period and reflects increases in Adjusted Net Trading Income from Americas equities trading of $2.3&nbsp;million, $7.2&nbsp;million from EMEA equities trading, $28.7&nbsp;million from
global currencies trading and $3.8&nbsp;million from trading options, fixed income and other securities. These increases in Adjusted Net Trading Income were partially offset by a decrease in
Adjusted Net Trading Income from APAC equities trading of $15.6&nbsp;million and $1.9&nbsp;million from global commodities compared to the year ended December&nbsp;31, 2013, which was primarily
attributable to </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>87</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=8,SEQ=92,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=1015394,FOLIO='87',FILE='DISK108:[13ZDI1.13ZDI16701]DG16701A.;187',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_dg16701_1_88"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>overall
decreased average daily volumes and volatility across certain asset classes in these categories. Adjusted Net Trading Income per&nbsp;day increased $0.08&nbsp;million, or 5.0%, to
$1.73&nbsp;million for the year ended December&nbsp;31, 2014, compared to $1.65&nbsp;million for the year ended December&nbsp;31, 2013. The number of trading days for the years ended
December&nbsp;31, 2014 and 2013 was 252 and 252, respectively. See "Summary Historical and Pro Forma Consolidated Financial and Other Data" for the reconciliation between Net Income and Adjusted Net
Trading Income. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trading Income, Net.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Trading income, net, increased $61.5&nbsp;million, or 9.8%, to $685.2&nbsp;million for the year
ended December&nbsp;31,
2014, compared to $623.7&nbsp;million for the year ended December&nbsp;31, 2013. This increase was primarily attributable to the diversification of our revenues despite overall decreased average
daily volumes and volatility across certain asset classes, in particular APAC
equities, global commodities, and global currencies. Rather than analyzing trading income, net, in isolation, we generally evaluate it in the broader context of our Adjusted Net Trading Income,
together with interest and dividends income, interest and dividends expense and brokerage, exchange and clearance fees, net, each of which are described below. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest and Dividends Income.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Interest and dividends income decreased $3.2&nbsp;million, or 10.2%, to
$27.9&nbsp;million for the year ended
December&nbsp;31, 2014, compared to $31.1&nbsp;million for the year ended December&nbsp;31, 2013. This decrease was primarily attributable to lower interest income earned on cash collateral
posted as part of securities borrowed transactions. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Technology Services.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Technology services revenues increased $0.3&nbsp;million, or 3.1%, to $10.0&nbsp;million for
the year ended
December&nbsp;31, 2014, compared to $9.7&nbsp;million for the year ended December&nbsp;31, 2013. We commenced providing technology services and recognized revenues starting in February 2013,
compared to the full year of revenues for the year ended December&nbsp;31, 2014. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> Operating Expenses  </I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our operating expenses increased $52.6&nbsp;million, or 11.0%, to $529.5&nbsp;million for the year ended December&nbsp;31, 2014,
compared to $476.9&nbsp;million for the year ended December&nbsp;31, 2013. This increase was primarily due to increases in brokerage, exchange, and clearance fees of $35.9&nbsp;million, interest
and dividends expense of $1.9&nbsp;million, communication and data processing expense of $4.1&nbsp;million, employee compensation and payroll taxes of $6.1&nbsp;million, operations and
administrative expense of $5.3&nbsp;million, financing interest expense on senior secured credit facility of $6.3&nbsp;million, initial public offering fees and expenses of $9.0 million,
transaction advisory fees and expenses of $3.0 million and $6.5&nbsp;million in depreciation and amortization expense. These increases in operating expenses were partially offset by decreases in
debt issue cost related to debt refinancing of $10.0&nbsp;million, $4.1&nbsp;million in acquisition related retention bonus, and $0.8&nbsp;million in amortization of purchased intangibles and
acquired capitalized software. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brokerage, Exchange and Clearance Fees, Net.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Brokerage exchange and clearance fees, net, increased
$35.9&nbsp;million, or 18.4%, to
$231.0&nbsp;million for the year ended December&nbsp;31, 2014, compared to $195.1&nbsp;million for the year ended December&nbsp;31, 2013. This increase was primarily attributable to the higher
fees incurred in our Americas equities trading. As indicated above, rather than analyzing brokerage, exchange and clearance fees, net, in isolation, we generally evaluate it in the broader context of
our Adjusted Net Trading Income. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication and Data Processing.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Communication and data processing expense increased $4.1&nbsp;million, or 6.4%,
to $68.8&nbsp;million for the
year ended December&nbsp;31, 2014, compared to $64.7&nbsp;million for the year ended December&nbsp;31, 2013. This increase was primarily attributable to increased costs from the use of new
telecommunication and market data technologies. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>88</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=9,SEQ=93,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=808708,FOLIO='88',FILE='DISK108:[13ZDI1.13ZDI16701]DG16701A.;187',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_dg16701_1_89"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employee Compensation and Payroll Taxes.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Employee compensation and payroll taxes increased $6.1&nbsp;million, or
7.9%, to $84.5&nbsp;million for
the year ended December&nbsp;31, 2014, compared to $78.4&nbsp;million for the year ended December&nbsp;31, 2013. This increase in compensation levels was attributable to increased incentive
compensation as a result of the increase in overall profitability of our business and costs associated with a reduction in force for certain terminated employees. As of December&nbsp;31, 2014, our
global headcount was 148 employees as compared to 151 as of December&nbsp;31, 2013. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest and Dividends Expense.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Interest and dividends expense increased $1.9&nbsp;million, or 4.2%, to
$47.1&nbsp;million for the year ended
December&nbsp;31, 2014, compared to $45.2&nbsp;million for the year ended December&nbsp;31, 2013. This increase was primarily attributable to greater financing and dividend costs incurred from
our market making activities. As indicated above, rather than analyzing interest and dividends expense in isolation, we generally evaluate it in the broader context of our Adjusted Net Trading Income. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operations and Administrative.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Operations and administrative expense decreased $5.3&nbsp;million, or 19.4%, to
$21.9&nbsp;million for the year
ended December&nbsp;31, 2014, compared to $27.2&nbsp;million for the year ended December&nbsp;31, 2013. The decrease was primarily attributable to the operational efficiencies achieved in our
overhead expenses such as travel and entertainment, freight, and occupancy costs, resulting in part from the relocation of our Dublin trading centers following the closure of our London trading office
and the consolidation of our European operations in Dublin during the year ended December&nbsp;31, 2013. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and Amortization.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization increased $6.5&nbsp;million, or 27.3%, to
$30.4&nbsp;million for the year ended
December&nbsp;31, 2014, compared to $23.9&nbsp;million for the year ended December&nbsp;31, 2013. This increase was primarily attributable to increased capital expenditures on telecommunication,
networking and other assets. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of Purchased Intangibles and Acquired Capitalized Software.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Amortization of purchased intangibles and
acquired capitalized software
decreased $0.8&nbsp;million, or 79.1%, to $0.2&nbsp;million for the year ended December&nbsp;31, 2014, compared to $1.0&nbsp;million for the year ended December&nbsp;31, 2013. This decrease
was primarily attributable to the full amortization of the majority of the purchased intangibles and acquired capitalized software related to the Madison Tyler Transactions, all of which was amortized
by December&nbsp;31, 2013. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquisition Related Retention Bonus.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Acquisition related retention bonus expense decreased $4.1&nbsp;million, or
60.6%, to $2.6&nbsp;million for
the year ended December&nbsp;31, 2014, compared to $6.7&nbsp;million for the year ended December&nbsp;31, 2013. The final installment payment under the retention plan was made on July 2014,
compared against the full year of expenses for the year ended December&nbsp;31, 2014. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Debt Issue Costs Related to Debt Refinancing.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Expense from debt issue costs related to debt refinancing was
$10.0&nbsp;million for the year ended
December&nbsp;31, 2013. These costs reflect nonrecurring expenses incurred as a result of the refinancing of our senior secured credit facility in February 2013 and November 2013. We had no such
expense in the year ended December&nbsp;31, 2014. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Initial Public Offering Fees and Expenses.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Initial public offering fees and expenses were $9.0&nbsp;million for the
year ended December&nbsp;31,
2014. These costs reflect nonrecurring expenses incurred as a result of the Initial Public Offering postponement in April 2014. We had no such expense for the year ended December&nbsp;31, 2013. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transaction Advisory Fees and Expenses.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Transaction advisory fees and expenses were $3.0&nbsp;million for the year
ended December&nbsp;31, 2014.
These costs reflect nonrecurring professional </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>89</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=10,SEQ=94,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=196157,FOLIO='89',FILE='DISK108:[13ZDI1.13ZDI16701]DG16701A.;187',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_dg16701_1_90"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>fees
incurred in connection with the Temasek Transaction, which was consummated on December&nbsp;31, 2014. We had no such expense for the year ended December&nbsp;31, 2013. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financing Interest Expense on Senior Secured Credit Facility.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Financing interest expense on senior secured credit
facility increased
$6.3&nbsp;million, or 25.4%, to $30.9&nbsp;million for the year ended December&nbsp;31, 2014, compared to $24.6&nbsp;million for the year ended December&nbsp;31, 2013. This increase was
primarily attributable to a $150.0&nbsp;million and $106.7&nbsp;million increase in the principal amount outstanding under our senior secured credit facility in May and November 2013,
respectively. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> Provision for Income Taxes  </I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Historically, as a limited liability company treated as a partnership for U.S. federal income tax purposes, most of our income has not
been subject to corporate tax, but instead our members have been taxed on their proportionate share of our net income. Our income tax expense reflects taxes payable by certain of our non-U.S.
subsidiaries. Provision for income taxes decreased $1.9&nbsp;million, or 35.1%, to $3.5&nbsp;million for the year ended December&nbsp;31, 2014, compared to $5.4&nbsp;million for the year ended
December&nbsp;31, 2013. This decrease was primarily attributable to decreased profitability in foreign jurisdictions where we are subject to corporate level taxation, in particular APAC operations
due to lower observed market volumes. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Year Ended December&nbsp;31, 2013 Compared to Year Ended December&nbsp;31, 2012  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> Total Revenues  </I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our total revenues increased $48.9&nbsp;million, or 7.9%, to $664.5&nbsp;million for the year ended December&nbsp;31, 2013,
compared to $615.6&nbsp;million for the year ended December&nbsp;31, 2012. This increase was primarily attributable to an increase in trading income, net, of $42.2&nbsp;million and to our
initial deployment in 2013 and delivery of technology services, which generated revenues of $9.7&nbsp;million during the period. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><I> Adjusted Net Trading Income  </I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjusted Net Trading Income increased $48.2&nbsp;million, or 13.0%, to $414.5&nbsp;million for the year ended December&nbsp;31,
2013, compared to $366.3&nbsp;million for the year ended December&nbsp;31, 2012. This increase reflects an increase in Adjusted Net Trading Income from global currencies of $30.2&nbsp;million
compared to the prior period as a result of an increase in global foreign currency exchange volumes as well as increased usage of VFX, our platform for providing customized liquidity in foreign
currencies, an increase of $11.9&nbsp;million from trading options, fixed income and other securities compared to the prior period as a result of an increase in relevant options volumes, an increase
of $3.6&nbsp;million from trading APAC equities compared to the prior period as a result of an increase in relevant market volumes and an increase of $2.3&nbsp;million from trading Americas
equities compared to the prior period as a result of increasingly favorable fee arrangements with certain venues. These increases in Adjusted Net Trading Income were partially offset by a decrease in
Adjusted Net Trading Income from global commodities trading of $1.7&nbsp;million compared to the prior period as a result of lower observed market volumes in certain energy products and a decrease
of $1.4&nbsp;million from EMEA equities trading compared to the prior period as a result of lower market volumes in European equities. In addition, brokerage, exchange and clearance fees, net,
decreased $5.5&nbsp;million due to improved fee arrangements with brokers, exchanges and clearing parties and a shift in Adjusted Net Trading Income to asset classes with lower associated expenses.
Adjusted Net Trading Income per day increased $0.2&nbsp;million, or 12%, to $1.7&nbsp;million for the year ended December&nbsp;31, 2013, compared to $1.5&nbsp;million for the year ended
December&nbsp;31, 2012. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>90</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=11,SEQ=95,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=856694,FOLIO='90',FILE='DISK108:[13ZDI1.13ZDI16701]DG16701A.;187',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_dg16701_1_91"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trading Income, Net.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Trading income, net, increased $42.2&nbsp;million, or 7.3%, to $623.7&nbsp;million for the year
ended December&nbsp;31,
2013, compared to $581.5&nbsp;million for the year ended December&nbsp;31, 2012.
The increase was partially attributable to our growth across new asset classes and geographies, which is discussed in more detail below under "&#151;&nbsp;Adjusted Net Trading Income,"
despite decreased average daily volumes and volatility in the Americas equities markets. Rather than analyzing trading income, net, in isolation, we generally evaluate it in the broader context of our
Adjusted Net Trading Income, together with interest and dividends income, interest and dividends expense and brokerage, exchange and clearance fees, net, each of which are described below. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest and Dividends Income.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Interest and dividends income decreased $3.1&nbsp;million, or 9.0%, to
$31.1&nbsp;million for the year ended
December&nbsp;31, 2013, compared to $34.2&nbsp;million for the year ended December&nbsp;31, 2012. This decrease was primarily due to decreased trading volumes. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Technology Services.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Technology services revenues were $9.7&nbsp;million for the year ended December&nbsp;31, 2013.
We commenced providing
technology services in 2013. As such, we did not generate technology services revenues for the year ended December&nbsp;31, 2012. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> Operating Expenses  </I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our operating expenses decreased $49.4&nbsp;million, or 9.4%, to $476.9&nbsp;million for the year ended December&nbsp;31, 2013,
compared to $526.3&nbsp;million for the year ended December&nbsp;31, 2012. This decrease was primarily due to a decrease in amortization of purchased intangibles and acquired capitalized software
of $70.6&nbsp;million and a decrease in interest and dividends expense of $3.5&nbsp;million, which were partially offset by increases of $9.3&nbsp;million in communication and data processing,
$14.6&nbsp;million in employee compensation and payroll taxes and $5.9&nbsp;million in depreciation and amortization expense. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brokerage, Exchange and Clearance Fees, Net.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Brokerage exchange and clearance fees, net, decreased $5.5&nbsp;million,
 or 2.7%, to
$195.1&nbsp;million for the year ended December&nbsp;31, 2013, compared to $200.6&nbsp;million for the year ended December&nbsp;31, 2012. This decrease was primarily attributable to improved
fee arrangements with brokers, exchanges and clearing parties, as well as a shift in trading volumes to asset classes, in particular global currencies, with lower associated brokerage expenses. As
indicated above, rather than analyzing brokerage, exchange and clearance fees, net, in isolation, we generally evaluate it in the broader context of our Adjusted Net Trading Income. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication and Data Processing.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Communication and data processing expense increased $9.3&nbsp;million, or 16.8%,
to $64.7&nbsp;million for
the year ended December&nbsp;31, 2013, compared to $55.4&nbsp;million for the year ended December&nbsp;31, 2012. This increase was primarily attributable to the expansion of our market making
activities into new markets in Asia and increased costs from the use of new telecommunication technologies. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employee Compensation and Payroll Taxes.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Employee compensation and payroll taxes increased $14.6&nbsp;million, or
22.7%, to $78.4&nbsp;million
for the year ended December&nbsp;31, 2013, compared to $63.8&nbsp;million for the year ended December&nbsp;31, 2012. This increase was partially attributable to an increase in salaries due to
increased headcount and compensation levels in support of the growth of our business, as well as an increase in cash bonus compensation as a result of increased overall profitability, in addition to
severance expense incurred in connection with the consolidation of our European operations in Dublin. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest and Dividends Expense.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Interest and dividends expense decreased $3.5&nbsp;million, or 7.3%, to
$45.2&nbsp;million for the year ended
December&nbsp;31, 2013, compared to $48.7&nbsp;million for the </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>91</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=12,SEQ=96,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=488605,FOLIO='91',FILE='DISK108:[13ZDI1.13ZDI16701]DG16701A.;187',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_dg16701_1_92"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>year
ended December&nbsp;31, 2012. This decrease was primarily attributable to a decrease in trading volumes. As indicated above, rather than analyzing interest and dividends expense in isolation,
we generally evaluate it in the broader context of our Adjusted Net Trading Income. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operations and Administrative.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Operations and administrative expense decreased $0.6&nbsp;million, or 2.2%, to
$27.2&nbsp;million for the year
ended December&nbsp;31, 2013, compared to $27.8&nbsp;million for the year ended December&nbsp;31, 2012. This decrease was primarily attributable to the $4.7&nbsp;million expense incurred in
connection with our attempt to purchase a publicly traded market making and financial services firm during the year ended December&nbsp;31, 2012. We did not incur such expenses for the year ended
December&nbsp;31, 2013. The decrease was partially offset by increases in recruiting expense, travel and entertainment expense, professional fees and occupancy expense, resulting in part from the
relocation of our Dublin trading centers to a larger space following the closure of our London trading office and the consolidation of our European operations in Dublin. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and Amortization.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization increased $6.0&nbsp;million, or 33.0%, to
$24.0&nbsp;million for the year ended
December&nbsp;31, 2013, compared to $18.0&nbsp;million for the year ended December&nbsp;31, 2012. This increase was primarily attributable to increased capital expenditures on telecommunication,
networking and other assets. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of Purchased Intangibles and Acquired Capitalized Software.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Amortization of purchased intangibles and
acquired capitalized software
decreased $70.6&nbsp;million, or 98.6%, to $1.1&nbsp;million for the year ended December&nbsp;31, 2013, compared to $71.7&nbsp;million for the year ended December&nbsp;31, 2012. The decrease
was primarily attributable to the full amortization of the majority of the purchased intangibles and acquired capitalized software related to the Madison Tyler Transactions, all of which was amortized
by December&nbsp;31, 2013. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquisition Cost.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Acquisition cost was $0.07&nbsp;million for the year ended December&nbsp;31, 2012 due to the
acquisition of Nyenburgh. We had
no such expense for the year ended December&nbsp;31, 2013. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquisition Related Retention Bonus.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Acquisition related retention bonus expense increased $0.5&nbsp;million, or
9.0%, to $6.7&nbsp;million for
the year ended December&nbsp;31, 2013, compared to $6.2&nbsp;million for the year ended December&nbsp;31, 2012. This increase was attributable to the accelerated recognition of expenses related
to certain employees. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment of Intangible Assets.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Impairment of intangible asset expense of $1.5&nbsp;million was recorded for the
year ended December&nbsp;31,
2012, as we determined the DMM rights to be fully impaired. We had no such expense for the year ended December&nbsp;31, 2013. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lease Abandonment.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Lease abandonment expense was $6.1&nbsp;million for the year ended December&nbsp;31, 2012 due to
a lease abandoned on
telecommunications equipment related to the Madison Tyler Transactions. We had no such expense for the year ended December&nbsp;31, 2013. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Debt Issue Costs Related to Debt Refinancing.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Expense from debt issue costs related to debt refinancing was
$10.0&nbsp;million for the year ended
December&nbsp;31, 2013. These costs reflect nonrecurring expenses incurred as a result of the refinancing of our senior secured credit facility in February 2013 and November 2013. We had no such
expense in the year ended December&nbsp;31, 2012. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financing Interest Expense on Senior Secured Credit Facility.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Financing interest expense on senior secured credit
facility decreased
$1.9&nbsp;million, or 6.9%, to $24.6&nbsp;million for the year ended December&nbsp;31, 2013, compared to $26.5&nbsp;million for the year ended December&nbsp;31, 2012. This decrease was
primarily attributable to a decrease in the effective interest rate under our senior </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>92</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=13,SEQ=97,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=743422,FOLIO='92',FILE='DISK108:[13ZDI1.13ZDI16701]DG16701A.;187',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_dg16701_1_93"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>secured
credit facility as of February 2013, from 7.50% to 5.75%, which was partially offset by a $150.0&nbsp;million and $106.7&nbsp;million increase in the principal amount outstanding under our
senior secured credit facility in May and November 2013, respectively. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> Provision for Income Taxes  </I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Historically, as a limited liability company treated as a partnership for U.S. federal income tax purposes, most of our income has not
been subject to corporate tax, but instead our members have been taxed on their proportionate share of our net income. Our income tax expense reflects taxes payable by certain of our non-U.S.
subsidiaries. Provision for income taxes increased $3.6&nbsp;million, or 205.3%, to $5.4&nbsp;million for the year ended December&nbsp;31, 2013, compared to $1.8&nbsp;million for the year
ended December&nbsp;31, 2012. The increase was primarily attributable to increases in taxable incomes in foreign jurisdictions where we are subject to corporate level taxation, including increased
profitability in our European operations following a consolidation of such operations. We anticipate that our income tax provision will increase following the reorganization transactions, as we will
be subject to corporate level taxation on taxable income, as adjusted for any non-controlling interest. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Liquidity and Capital Resources  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> General  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As of December&nbsp;31, 2014, we had $75.9&nbsp;million in cash and cash equivalents. These balances are maintained primarily to
support operating activities and for capital expenditures and for short-term access to liquidity. As of December&nbsp;31, 2014, we had short-term debt outstanding of $0 and long-term debt
outstanding in an aggregate principal amount of $502.7&nbsp;million. As of December&nbsp;31, 2014, our regulatory capital requirements for domestic U.S. subsidiaries were $3.7&nbsp;million, in
aggregate. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
majority of our assets consist of exchange-listed marketable securities, which are marked-to-market daily, and collateralized receivables from broker-dealers and clearing
organizations arising from proprietary securities transactions. Collateralized receivables consist primarily of securities borrowed, receivables from clearing houses for settlement of securities
transactions and, to a lesser extent, securities purchased under agreements to resell. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
actively manage our liquidity, and we maintain significant borrowing facilities through the securities lending markets and with banks and prime brokers. We have continually received
the benefit of uncommitted margin financing from our prime brokers globally. These margin facilities are secured by securities in accounts held at the prime broker. For purposes of providing
additional liquidity, we maintain a committed revolving credit facility for Virtu Financial BD&nbsp;LLC, one of our wholly owned broker-dealer subsidiaries. See "&nbsp;&#151; Credit
Facilities" below. In addition, we expect to supplement our overall liquidity with the new revolving credit facility we intend to obtain in connection with this offering. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based
on our current level of operations, we believe our cash flows from operations, available cash and available borrowings under our broker-dealer revolving credit facility will be
adequate to meet our future liquidity needs for more than the next twelve months. We anticipate that our primary upcoming cash and liquidity needs will be increased margin requirements from increased
trading activities in markets where we currently provide liquidity and in new markets into which we expand. We manage and monitor our margin and liquidity needs on a real-time basis and can adjust our
requirements both intraday and inter-day, as required. In addition, commencing with the fiscal quarter
ending&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2015, we intend to pay a quarterly dividend of
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share
to holders of our Class&nbsp;A common stock. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>93</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=14,SEQ=98,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=120331,FOLIO='93',FILE='DISK108:[13ZDI1.13ZDI16701]DG16701A.;187',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_di16701_1_94"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->




<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


 </FONT> <FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P style="font-family:arial;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Following the consummation of this offering, before any other distributions are made to us and the Virtu Post-IPO Members by Virtu Financial, Virtu Financial
will distribute to certain Virtu Pre-IPO Members as of a record date prior to the commencement of the reorganization transactions, pro&nbsp;rata in accordance with their respective interests in
classes of equity entitled to participate in operating cash flow distributions, operating cash flow of Virtu Financial and its subsidiaries for the fiscal period beginning on January&nbsp;1, 2015
and ending on the date of the consummation of the reorganization transactions, less any reserves established during this period and less any operating cash flow for this period previously distributed
to such Virtu Pre-IPO Members. We expect this distribution will be funded from cash on hand. See "Dividend Policy."

</FONT>

</P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
expect our principal sources of future liquidity to come from cash flows provided by operating activities and financing activities we may pursue, including the new revolving credit
facility described above. In addition, based on an assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated public offering price range set forth on the cover
page of this prospectus), we will have broad discretion as to the application of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million of the net proceeds from this offering to be used for working capital and general
corporate purposes. See "Use of Proceeds." We may also use such net proceeds, together with cash from operations, to finance growth through the acquisition of, or investment in, businesses, products,
services or technologies that are complementary to our current business, through mergers, acquisitions or other strategic transactions. Certain of our cash balances are insured by the Federal Deposit
Insurance Corporation, generally up to $250,000 per account but without a cap under certain conditions. From time to time these cash balances may exceed insured limits, but we select financial
institutions
deemed highly creditworthy to minimize risk. We consider highly liquid investments with original maturities of less than three months when acquired to be cash equivalents. </FONT></P>

<P style="font-family:arial;">


<FONT SIZE=2><B><I> Tax Receivable Agreements

  </I></B></FONT>

</P>

<P style="font-family:arial;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Generally, we are required under the tax receivable agreements described in "Certain Relationships and Related Party
Transactions&#151;Tax Receivable Agreements" to make payments to the Virtu Post-IPO Members and the Investor Post-IPO Stockholders that are generally equal to 85% of the applicable cash tax
savings, if any, that we actually realize as a result of favorable tax attributes that will be available to us as a result of the reorganization transactions, exchanges of membership interests for
Class&nbsp;A common stock or Class&nbsp;B common stock and payments made under the tax receivable agreements. We will retain the remaining 15% of these cash tax savings. We expect that future
payments to the Virtu Post-IPO Members and the Investor Post-IPO Stockholders in respect of the purchases, the exchanges and the Mergers described in "Organizational Structure&#151;The
Reorganization Transactions" will aggregate to approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and range from approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per year over the next 15&nbsp;years (or approximately
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in the aggregate, ranging from approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per year over the next 15&nbsp;years if the underwriters exercise their option to purchase
additional shares in full). Such payments will occur only after the Company has filed its U.S. federal and state income tax returns and realized the cash tax savings from the favorable tax attributes.
The first payment would be due after the filing of the Company's tax return for the year ended December&nbsp;31, 2015, which is due March&nbsp;15, 2016, but the due date can be extended until
September&nbsp;15, 2016. Future payments under the tax receivable agreements in respect of subsequent exchanges would be in addition to these amounts. We currently expect to fund these payments from
cash flow from operations generated by our subsidiaries as well as from excess tax distributions that we receive from our subsidiaries.


</FONT>

</P>

<P style="font-family:arial;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the tax receivable agreements, as a result of certain types of transactions and other factors, including a transaction resulting in a change of control, we may also be required to
make payments to the Virtu Post-IPO Members and the Investor Post-IPO Stockholders in amounts equal

 </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>94</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=99,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=825313,FOLIO='94',FILE='DISK108:[13ZDI1.13ZDI16701]DI16701A.;200',USER='MTITUSS',CD='23-MAR-2015;14:30' -->
<A NAME="page_di16701_1_95"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>


to the present value of future payments we are obligated to make under the tax receivable agreements. If the payments under the tax receivable agreements are accelerated, we may be required to raise
additional debt or equity to fund such payments. To the extent that we are unable to make payments under the tax receivable agreements for any reason (including because our credit agreement restricts
the ability of our subsidiaries to make distributions to us) such payments will be deferred and will accrue interest until paid. For a full description of the tax receivable agreements, see "Risk
Factors&#151;Risks Related to Our Organization and Structure&#151;We will be required to pay the Virtu Post-IPO Members and the Investor
Post-IPO Stockholders for certain tax benefits we may claim, and the amounts we may pay could be significant" and "Certain Relationships and Related Party Transactions&#151;Tax Receivable
Agreements."

</FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Regulatory Capital Requirements  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain of our principal operating subsidiaries are subject to separate regulation and capital requirements in the United States and
other jurisdictions. Virtu Financial BD&nbsp;LLC and Virtu Financial Capital Markets&nbsp;LLC are registered U.S. broker-dealers, and their primary regulators include the SEC, the Chicago Stock
Exchange and FINRA. Virtu Financial Ireland Limited is a registered investment firm under the Market in Financial Instruments Directive, and its primary regulator is the Central Bank of Ireland. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
SEC and FINRA impose rules that require notification when regulatory capital falls below certain pre-defined criteria. These rules also dictate the ratio of debt-to-equity in the
regulatory capital composition of a broker-dealer and constrain the ability of a broker-dealer to expand its business under certain circumstances. If a firm fails to maintain the required regulatory
capital, it may be subject to suspension or revocation of registration by the applicable regulatory agency, and suspension or expulsion by these regulators could ultimately lead to the firm's
liquidation. Additionally, certain applicable rules impose requirements that may have the effect of prohibiting a broker-dealer from distributing or withdrawing capital and requiring prior notice to
and/or approval from the SEC, the Chicago Stock Exchange and FINRA for certain capital withdrawals. Virtu Financial Capital Markets&nbsp;LLC is also subject to rules set forth by NYSE MKT (formerly
NYSE Amex) and is required to maintain a certain level of capital in connection with the operation of its DMM business. Virtu Financial Ireland Limited is regulated by the Central Bank of Ireland as
an Investment Firm and in accordance with European Union law is required to maintain a minimum amount of regulatory capital to cover its regulatory capital requirements. In addition to periodic
requirements to report its regulatory capital and submit other regulatory reports, Virtu Financial Ireland Limited is required to obtain consent prior to receiving capital contributions or making
capital distributions from its regulatory capital. Failure to comply with its regulatory capital requirements could result in regulatory sanction or revocation of its regulatory license. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table sets forth the regulatory capital level, requirement and excess for domestic U.S. subsidiaries as of December&nbsp;31, 2014: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:73%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"110%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="110%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="105pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="105pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="106pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2><B>(In thousands)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:80pt;"><FONT SIZE=2><B>Regulatory Capital

<!-- COMMAND=ADD_SCROPPEDRULE,80pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:80pt;"><FONT SIZE=2><B>Regulatory Capital<BR>
Requirement

<!-- COMMAND=ADD_SCROPPEDRULE,80pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:81pt;"><FONT SIZE=2><B>Excess Regulatory<BR>
Capital

<!-- COMMAND=ADD_SCROPPEDRULE,81pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Virtu Financial BD&nbsp;LLC</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>59,795</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>58,795</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Virtu Financial Capital Markets&nbsp;LLC</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>8,139</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>3,700</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>4,439</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>95</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=100,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=955769,FOLIO='95',FILE='DISK108:[13ZDI1.13ZDI16701]DI16701A.;200',USER='MTITUSS',CD='23-MAR-2015;14:30' -->
<A NAME="page_di16701_1_96"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Cash Flows  </I></B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="55pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="55pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="55pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>Years Ended December&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2><B>(In thousands)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:21pt;"><FONT SIZE=2><B>2014

<!-- COMMAND=ADD_SCROPPEDRULE,21pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:21pt;"><FONT SIZE=2><B>2013


<!-- COMMAND=ADD_SCROPPEDRULE,21pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:21pt;"><FONT SIZE=2><B>2012

<!-- COMMAND=ADD_SCROPPEDRULE,21pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net cash provided by (used in):</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Operating activities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>272,699</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>259,361</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>160,446</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Investing activities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(36,159</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(32,016</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(28,356</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Financing activities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(221,654</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(202,695</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(128,760</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Effect of exchange rate changes on cash and cash equivalents</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(5,032</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,382</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>548</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net increase in cash and cash equivalents</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>9,854</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>26,032</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>3,878</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The table above summarizes our primary sources and uses of cash for the years ended December&nbsp;31, 2014, 2013 and 2012. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> Operating Activities  </I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by operating activities was $272.7&nbsp;million for the year ended December&nbsp;31, 2014, compared to
$259.4&nbsp;million for the year ended December&nbsp;31, 2013. The increase of $13.3&nbsp;million in net cash provided by operating activities is largely a reflection of the increased
profitability of our business and the use of proceeds from excess funds held at prime brokers and clearinghouses towards repayment of the short term borrowings. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net
cash provided by operating activities was $259.4&nbsp;million for the year ended December&nbsp;31, 2013, compared to $160.4&nbsp;million for the year ended December&nbsp;31,
2012. The increase of $99.0&nbsp;million in net cash provided by operating activities was primarily attributable to an increase in net income of $94.6&nbsp;million. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> Investing Activities  </I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in investing activities was $36.2&nbsp;million for the year ended December&nbsp;31, 2014, compared to
$32.0&nbsp;million for the year ended December&nbsp;31, 2013. The $4.2&nbsp;million increase in net cash used in investing activities was due to a $6.2&nbsp;million increase in property and
equipment purchases offset by a $0.3&nbsp;million decrease in capitalized software development. The property and equipment purchases in the year ended December&nbsp;31, 2014 increased as a result
of investments in networking and communication equipment. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net
cash used in investing activities was $32.0&nbsp;million for the year ended December&nbsp;31, 2013, compared to $28.4&nbsp;million for the year ended December&nbsp;31, 2012.
The increase in net cash used in investing activities was due to a $6.1&nbsp;million increase in property and equipment purchases, partially offset by a reduction of $1.3&nbsp;million in cash used
for acquisitions and a $1.1&nbsp;million decrease in capitalized software expense. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> Financing Activities  </I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities of $221.7&nbsp;million, $202.7&nbsp;million and $128.8&nbsp;million for the years ended
December&nbsp;31, 2014, 2013 and 2012, respectively, are primarily a result of distributions to members of Virtu Financial, including mandatory tax
distributions, repurchase of Class&nbsp;A-2 interests and changes in borrowings under short-term lending arrangements and our senior secured credit facility. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Credit Facilities  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We originally entered into our senior secured credit facility with Credit Suisse AG, Cayman Islands Branch, in July 2011 in connection
with the Madison Tyler Transactions. Subsequently, we </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>96</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=101,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=824623,FOLIO='96',FILE='DISK108:[13ZDI1.13ZDI16701]DI16701A.;200',USER='MTITUSS',CD='23-MAR-2015;14:30' -->
<A NAME="page_di16701_1_97"> </A>


<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>refinanced
our senior secured credit facility in February 2013, we obtained an incremental term loan thereunder in May 2013 and we refinanced our senior secured credit facility again in November 2013.
As of December&nbsp;31, 2014, our senior secured credit facility had an aggregate principal amount outstanding of $502.7&nbsp;million, and it matures in November 2019. We used the incremental
proceeds from the most recent refinancing of our senior secured credit facility to make a special distribution of $98.4&nbsp;million to the members of Virtu Financial. Prior to the consummation of
this offering, borrowings under our senior secured credit facility bear interest, at our election, at either (i)&nbsp;the greatest of (a)&nbsp;the prime rate in effect, (b)&nbsp;the federal
funds effective rate plus 0.5%, (c)&nbsp;an adjusted LIBOR rate for a Eurodollar borrowing with an interest period of one month plus 1% and (d)&nbsp;2.25%, plus, in each case, 3.5%, or
(ii)&nbsp;the greater of (x)&nbsp;an adjusted LIBOR rate for the interest period in effect and (y)&nbsp;1.25%, plus, in each case, 4.5%. Upon the consummation of this offering, such borrowings
will bear interest, at our election, at either (i)&nbsp;the greatest of (a)&nbsp;the prime rate in effect, (b)&nbsp;the federal funds effective rate plus 0.5%, (c)&nbsp;an adjusted LIBOR rate
for a Eurodollar borrowing with an interest period of one month plus 1% and (d)&nbsp;2.25%, plus, in each case, 3.0%, or (ii)&nbsp;the greater of (x)&nbsp;an adjusted LIBOR rate for the interest
period in effect and (y)&nbsp;1.25%, plus, in each case, 4.0%. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
senior secured credit facility is subject to certain financial covenants, which require us to maintain specified financial ratios and tests, including interest coverage and total
leverage ratios, which may require us to take action to reduce our debt or to act in a manner contrary to our business objectives. Our senior secured credit facility is also subject to certain
negative covenants that restricts our ability to, among other things, incur additional indebtedness, dispose of assets, guarantee debt obligations, repay other indebtedness, pay dividends, pledge
assets, make investments, including in certain of our operating subsidiaries, make acquisitions or consummate mergers or consolidations and engage in certain transactions with subsidiaries and
affiliates. We are also subject to contingent principal payments based on excess cash flow and certain other triggering events. As of December&nbsp;31, 2014, we were in compliance with all of our
covenants and made contingent principal payments totalling $3.5&nbsp;million since the latest refinancing. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrowings
under our senior secured credit facility are secured by substantially all of our assets, other than the equity interests in and assets of our subsidiaries that are subject
to, or potentially subject to, regulatory oversight, and our foreign subsidiaries, but including 100% of the non-voting stock and 65% of the voting stock of these subsidiaries. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, we can borrow up to an additional $200&nbsp;million in incremental term loans and revolving loans. We have obtained commitments from a syndicate of lenders, subject to
customary conditions in addition to the consummation of this offering, to provide us with a new revolving credit facility in the amount of $100&nbsp;million for general corporate purposes. The new
revolving credit facility will be implemented pursuant to an amendment to our senior secured credit facility, will be secured on a pari passu basis with the existing term loan under our senior secured
credit facility and will be subject to the same financial covenants and negative covenants. Borrowings under the new revolving credit facility will bear interest, at our election, at either
(i)&nbsp;the greatest of (a)&nbsp;the prime rate in effect, (b)&nbsp;the federal funds effective rate plus 0.5% (c)&nbsp;an adjusted LIBOR rate for a Eurodollar borrowing with an interest
period of one month plus 1% and (d)&nbsp;2.25%, plus, in each case, 2.0%, or (ii)&nbsp;the greater of (x)&nbsp;an adjusted LIBOR rate for the interest period in effect and (y)&nbsp;1.25%,
plus, in each case, 3.0%. We will also pay a commitment fee of 0.50% per annum on the average daily unused portion of the facility. Although we have obtained commitments for the new revolving credit
facility, the commitments are subject to conditions (including termination) and there can be no assurance that we will successfully enter into the new revolving credit facility. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
July&nbsp;22, 2013, Virtu Financial BD&nbsp;LLC, our wholly owned broker-dealer subsidiary, entered into a $50.0&nbsp;million, one-year secured revolving credit facility, which
we refer to as our "broker-dealer credit facility," with BMO Harris Bank N.A. The maturity date for the broker-dealer credit </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>97</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=102,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=802,FOLIO='97',FILE='DISK108:[13ZDI1.13ZDI16701]DI16701A.;200',USER='MTITUSS',CD='23-MAR-2015;14:30' -->
<A NAME="page_di16701_1_98"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>facility
was subsequently extended for an additional year. Borrowings under our broker-dealer credit facility are used to finance the purchase and settlement of securities and bear interest at the
adjusted LIBOR rate or base rate, plus a margin of 1.25% per annum. A commitment fee of 0.25% per annum on the average daily unused portion of the facility is payable quarterly in arrears. An upfront
fee of $0.5&nbsp;million was payable in four equal installments, on the closing date and on the last day of each of the three subsequent quarters. Our broker-dealer credit facility requires, among
other items, maintenance of minimum net worth, minimum excess net capital and a maximum total assets to equity ratio. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Commitments and Contingencies  </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table reflects our minimum contractual obligations as of December&nbsp;31, 2014. Amounts we pay in future periods may
vary from those reflected in the table. </FONT></P>
 <DIV style="padding:0pt;position:relative;width:67%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"120%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="120%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="49pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="63pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="60pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="60pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="65pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=14 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>Payments due by period </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2><B>(In thousands)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>Total

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:47pt;"><FONT SIZE=2><B>Less than<BR>
1&nbsp;year

<!-- COMMAND=ADD_SCROPPEDRULE,47pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:41pt;"><FONT SIZE=2><B>1-3&nbsp;years


<!-- COMMAND=ADD_SCROPPEDRULE,41pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:41pt;"><FONT SIZE=2><B>3-5&nbsp;years

<!-- COMMAND=ADD_SCROPPEDRULE,41pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:49pt;"><FONT SIZE=2><B>More than<BR>
5&nbsp;years

<!-- COMMAND=ADD_SCROPPEDRULE,49pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Long-term debt obligations</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>502,714</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>2,914</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>10,200</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>489,600</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Capital leases</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>16,546</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>11,135</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>5,411</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Operating leases</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>20,634</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>7,488</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>7,054</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>4,148</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,944</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total contractual obligations(1)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>539,894</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>21,537</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>22,665</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>493,748</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,944</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->


<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" >
 </DIV>
<DIV style="padding:0pt;position:relative;text-align:left;margin-left:10%;">
 <DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Excludes
the Class&nbsp;A-1 interests of Virtu Financial, which are convertible by the holders at any time into an equivalent number of Class&nbsp;A-2
capital interests of Virtu Financial and, in a sale or other specified capital transaction, holders are entitled to receive distributions up to specified preference amounts before holders of
Class&nbsp;A-2 capital interests of Virtu Financial are entitled to receive distributions. In connection with the reorganization transactions, all of the existing equity interests in Virtu Financial
will be reclassified into Virtu Financial Units. </FONT></DD></DL>
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2><B> Inflation  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We believe inflation has not had a material effect on our financial condition or results of operations in the years ended
December&nbsp;31, 2014, 2013 and 2012. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Quantitative and Qualitative Information about Market Risk  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Interest Rate Risk, Derivative Instruments  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the normal course of business, we utilize derivative financial instruments in connection with our proprietary trading activities.
We do not designate our derivative financial instruments as hedging instruments under Financial Accounting Standards Board's Accounting Standards Codification (ASC) 815 "Derivatives and Hedging."
Instead, we carry our derivative instruments at fair value with gains and losses included in trading income, net, in the accompanying statements of comprehensive income. Fair value of derivatives that
are freely tradable and listed on a national exchange is determined at their last sale price as of the last business day of the period. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Since
gains and losses are included in earnings, we have elected not to separately disclose gains and losses on derivative instruments, but instead to disclose gains and losses within
trading revenue for both derivative and non-derivative instruments. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;As part of our proprietary market making trading strategies, we use futures contracts to gain exposure
to changes in values of
various indices, commodities, interest rates or foreign currencies. A futures contract represents a commitment for the future purchase or sale of an </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>98</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=103,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=409671,FOLIO='98',FILE='DISK108:[13ZDI1.13ZDI16701]DI16701A.;200',USER='MTITUSS',CD='23-MAR-2015;14:30' -->
<A NAME="page_di16701_1_99"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>asset
at a specified price on a specified date. Upon entering into a futures contract, we are required to pledge to the broker an amount of cash, U.S. government securities or other assets equal to a
certain percentage of the contract amount. Subsequent payments, known as variation margin, are made or received by us each day, depending on the daily fluctuations in the fair values of the underlying
securities. We recognize a gain or loss equal to the daily variation margin. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Due from Brokers and Clearing Organizations.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Management periodically evaluates our counterparty credit exposures to various
brokers and clearing
organizations with a view to limiting potential losses resulting from counterparty insolvency. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I> Foreign Currency Risk  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As a result of our international market making activities and accumulated earnings in our foreign subsidiaries, our income and net
worth are subject to fluctuation in foreign exchange rates. While we generate revenues in several currencies, a majority of our operating expenses are denominated in U.S. dollars. Therefore,
depreciation in these other currencies against the U.S. dollar would negatively impact revenue upon translation to the U.S. dollar The impact of any translation of our foreign denominated earnings to
the U.S. dollar is mitigated, however, through the impact of daily hedging practices that are employed by the company. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets
and liabilities of subsidiaries with non-U.S. dollar functional currencies are translated into U.S. dollars at period-end exchange rates. Income, expense and cash flow items are
translated at average exchange rates prevailing during the period. The resulting currency translation adjustments are recorded as foreign exchange translation adjustment in our consolidated statements
of comprehensive income and changes in members' equity. Our primary currency translation exposures historically relate to net investments in entities having functional currencies denominated in the
Euro. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Market Risk  </I></B></FONT></P>

<P style="font-family:arial;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The purchase and sale of futures contracts requires margin deposits with a Futures Commission Merchant ("FCM"). The Commodity Exchange
Act requires an FCM to segregate all customer transactions and assets from the FCM's proprietary activities. A customer's cash and other equity deposited with an FCM are considered commingled with all
other customer funds subject to the FCM's segregation requirements. In the event of an FCM's insolvency, recovery may be limited to the Company's pro rata share of segregated customer funds available.
It is possible that the recovery amount could be less than the total cash and other equity deposited.


</FONT>

</P>

<P style="font-family:arial;"><FONT SIZE=2><B> Financial Instruments with Off Balance Sheet Risk  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We enter into various transactions involving derivatives and other off-balance sheet financial instruments. These financial
instruments include futures, forward contracts, and exchange-traded options. These derivative financial instruments are used to conduct trading activities and manage market risks and are, therefore,
subject to varying degrees of market and credit risk. Derivative transactions are entered into for trading purposes or to economically hedge other positions or transactions. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures
and forward contracts provide for delayed delivery of the underlying instrument. In situations where we write listed options, we receive a premium in exchange for giving the
buyer the right to buy or sell the security at a future date at a contracted price. The contractual or notional amounts related to these financial instruments reflect the volume and activity and do
not necessarily reflect the amounts at risk. Futures contracts are executed on an exchange, and cash settlement is made on a daily basis for market movements, typically with a central clearing house
as the counterparty. Accordingly, futures contracts generally do not have credit risk. The credit risk for </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>99</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=104,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=744810,FOLIO='99',FILE='DISK108:[13ZDI1.13ZDI16701]DI16701A.;200',USER='MTITUSS',CD='23-MAR-2015;14:30' -->
<A NAME="page_di16701_1_100"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>forward
contracts, options, and swaps is limited to the unrealized market valuation gains recorded in the statements of financial condition. Market risk is substantially dependent upon the value of
the underlying financial instruments and is affected by market forces, such as volatility and changes in interest and foreign exchange rates. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Critical Accounting Policies and Estimates  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The preparation of financial statements in conformity with U.S.&nbsp;GAAP requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and
expenses during the applicable reporting period. Critical accounting policies are those that are the most important portrayal of our financial condition and results of operations and that require our
most difficult, subjective and complex judgments as a result of the need to make estimates about the effect of matters that are inherently uncertain. While our significant accounting policies are
described in more detail in the notes to our financial statements, our most critical accounting policies are discussed below. In applying such policies, we must use some amounts that are based upon
our informed judgments
and best estimates. Estimates, by their nature, are based upon judgments and available information. The estimates that we make are based upon historical factors, current circumstances and the
experience and judgment of management. We evaluate our assumptions and estimates on an ongoing basis. Our actual results may differ from these estimates under different assumptions or conditions. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Valuation of Financial Instruments  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Due to the nature of our operations, substantially all of our financial instrument assets, comprised of financial instruments owned,
securities purchased under agreements to resell, and receivables from brokers, dealers and clearing organizations are carried at fair value based on published market prices and are marked to market
daily, or are assets which are short-term in nature and are reflected at amounts approximating fair value. Similarly, all of our financial instrument liabilities that arise from financial instruments
sold but not yet purchased, securities sold under agreements to repurchase, securities loaned and payables to brokers, dealers and clearing organizations are short-term in nature and are reported at
quoted market prices or at amounts approximating fair value. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Revenue Recognition  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> Trading Income, Net  </I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trading income, net, consists of trading gains and losses that are recorded on a trade date basis and reported on a net basis. Trading
income, net, is comprised of changes in fair value of assets and liabilities (i.e.,&nbsp;unrealized gains and losses) and realized gains and losses on equities, fixed income securities, currencies
and commodities. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> Interest and Dividends Income/Interest and Dividends Expense  </I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest income and interest expense are accrued in accordance with contractual rates. Interest income consists of income earned on
collateralized financing arrangements and on cash held by brokers. Interest expense includes interest expense from collateralized transactions, margin and related short-term lending facilities.
Dividends are recorded on the ex-dividend date, and interest is recognized on the accrual basis. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>100</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=7,SEQ=105,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=601840,FOLIO='100',FILE='DISK108:[13ZDI1.13ZDI16701]DI16701A.;200',USER='MTITUSS',CD='23-MAR-2015;14:30' -->
<A NAME="page_di16701_1_101"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> Technology Services  </I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Technology services revenues consist of fees paid by third parties for licensing of our proprietary risk management and trading
infrastructure technology and provision of associated management and hosting services. These fees include both upfront and annual recurring fees. Income from existing arrangements for technology
services is recorded as a services contract in accordance with SEC Topic 13 (SAB&nbsp;104), SEC Topic 13.A.3 (f), with revenue being recognized once persuasive evidence of an arrangement exists,
delivery has occurred, the fee is fixed or determinable, and collectability is probable. Revenue is recognized ratably over the contractual services period. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Software Development Costs  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We account for the costs of computer software developed or obtained for internal use in accordance with ASC 350-40, Internal-Use
Software. We capitalize costs of materials, consultants and payroll and payroll related costs for employees incurred in developing internal-use software. Costs incurred during the preliminary project
and post-implementation stages are charged to expense. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management's
judgment is required in determining the point when various projects enter the stages at which costs may be capitalized, in assessing the ongoing value of the capitalized
costs and in
determining the estimated useful lives over which the costs are amortized. Capitalization of such costs begins when a program or functionality under development has established technological
feasibility and ends when the resulting program or functionality is available for release to users. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
capitalized software development costs were approximately $47.5&nbsp;million and $38.0&nbsp;million with related accumulated amortization of approximately $39.8&nbsp;million
and $29.6&nbsp;million at December&nbsp;31, 2014 and&nbsp;2013, respectively. Capitalized software development costs and related accumulated amortization are included in property, equipment and
capitalized software on the accompanying consolidated statements of financial condition and are amortized over a period of 1.4 to 2.5&nbsp;years, which represents the estimated useful lives of the
underlying software. The estimated useful lives of the underlying software are based on analysis performed by a third party in connection with the Madison Tyler Transaction. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Stock-Based Compensation  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We account for stock-based compensation transactions with employees under the provisions of ASC 718, Compensation: Stock Compensation.
ASC 718 requires the recognition of the fair value of stock-based awards in net income. The fair value of awards issued for compensation is determined using a third-party valuation on the date of
grant. The fair value of stock-based awards granted to employees is amortized over the vesting period of the award, if any. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
the years ended December&nbsp;31, 2014, 2013 and 2012, we granted Class&nbsp;A-2 profits interests in Virtu Financial to certain employees and a non-employee. These interests
vest over a period of up to 4&nbsp;years or immediately and are subject to repurchase provisions upon certain termination events. These awards are accounted for as equity awards and are measured at
the date of grant. For the years ended December&nbsp;31, 2014, 2013 and 2012, we recorded $16.0&nbsp;million, $13.4&nbsp;million and $8.4&nbsp;million, respectively, in expense recognized
relating to these awards. As of December&nbsp;31, 2014, total unrecognized stock-based compensation expense related to these Class&nbsp;A-2 profits interests that have not vested was
$3.6&nbsp;million, and this amount is expected to be recognized over a weighted average period of 2.5&nbsp;years. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>101</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=8,SEQ=106,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=136836,FOLIO='101',FILE='DISK108:[13ZDI1.13ZDI16701]DI16701A.;200',USER='MTITUSS',CD='23-MAR-2015;14:30' -->
<A NAME="page_di16701_1_102"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
estimated the fair value of the Class&nbsp;A-2 profits interests using Contingent Claim Analysis based on the Merton framework, an option pricing methodology based on expected
volatility, risk-free rates and expected life. Expected volatility is calculated based on companies in our peer group.
The weighted average assumptions we used in estimating the grant date fair values of the Class&nbsp;A-2 profits interests during the year ended December&nbsp;31, 2014 are summarized below: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="32pt" style="font-family:arial;"></TD>
<TD WIDTH="18pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="32pt" style="font-family:arial;"></TD>
<TD WIDTH="18pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="32pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>As of December&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2014

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2013


<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2012

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Expected life (in years)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>0.5</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>0.5</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1.5</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Expected stock price volatility</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>25</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>25</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>30</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Expected dividend yield</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Risk-free interest rate</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>0.12</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>0.10</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>0.20</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Activity
in the Class&nbsp;A-2 profits interests is as follows: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="68pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="81pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="94pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:51pt;"><FONT SIZE=2><B>Number of<BR>
Interests

<!-- COMMAND=ADD_SCROPPEDRULE,51pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:61pt;"><FONT SIZE=2><B>Weighted<BR>
Average Fair<BR>
Value

<!-- COMMAND=ADD_SCROPPEDRULE,61pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:72pt;"><FONT SIZE=2><B>Weighted<BR>
Average<BR>
Remaining Life

<!-- COMMAND=ADD_SCROPPEDRULE,72pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Outstanding at December&nbsp;31, 2012</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2,298,957</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>6.40</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>0.70</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Interests Granted</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2,223,814</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>7.19</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Interests Repurchased</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(88,319</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>6.57</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Outstanding at December&nbsp;31, 2013</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>4,434,452</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>6.82</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>3.40</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Interests Granted</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,992,556</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>7.52</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Interests Repurchased</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(358,001</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>6.51</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Outstanding at December&nbsp;31, 2014</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>6,069,007</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>7.05</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2.54</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, during the years ended December&nbsp;31, 2013 and&nbsp;2012, certain employees were granted Class&nbsp;B interests in Virtu Financial. No Class&nbsp;B interests
were granted for the year ended December&nbsp;31, 2014. These interests vest in accordance with the terms of the Existing Equity Incentive Plan and are subject to repurchase provisions, upon certain
termination events. These interests are accounted for as equity awards. There was no expense recognized relating to these awards. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I> Income Taxes  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We conduct our business globally through a number of separate legal entities. Consequently, our effective tax rate is dependent upon
the geographic distribution of our earnings or losses and the tax laws and regulations of each legal jurisdiction in which we operate. We may pay taxes in some jurisdictions and not others. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Goodwill and Intangible Assets  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodwill represents the excess of the purchase price over the underlying net tangible and intangible assets of our acquisitions.
Goodwill is not amortized but is tested for impairment on an annual basis and between annual tests whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.
Goodwill is tested at the
reporting unit level, which is defined as an operating segment or one level below the operating segment. We operate in one operating segment, which is our only reporting unit. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
goodwill impairment test is a two-step process. The first step is used to identify potential impairment and compares the fair value of a reporting unit with its carrying amount,
including goodwill. If the carrying amount of a reporting unit exceeds its fair value, the second step of the </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>102</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=9,SEQ=107,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=608305,FOLIO='102',FILE='DISK108:[13ZDI1.13ZDI16701]DI16701A.;200',USER='MTITUSS',CD='23-MAR-2015;14:30' -->
<A NAME="page_di16701_1_103"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>goodwill
impairment test must be performed. The second step is used to measure the amount of impairment loss, if any, and compares the implied fair value of reporting unit goodwill with the carrying
amount of that goodwill. If the carrying amount of reporting unit goodwill exceeds the implied fair value of that goodwill, an impairment loss must be recognized in an amount equal to that excess. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
primary valuation methods we use to estimate the fair value of our reporting unit are the income and market approaches. In applying the income approach, projected available cash
flows and the terminal value are discounted to present value to derive an indication of fair value of the business enterprise. The market approach compares the reporting unit to selected reasonably
similar publicly-traded companies. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
test goodwill for impairment on an annual basis on July&nbsp;1 and on an interim basis when certain events or circumstances exist. Based on the results of the annual impairment
tests performed as of July&nbsp;1, 2014 and 2013, no goodwill impairment was recognized during the years ended December&nbsp;31, 2014 and&nbsp;2013, respectively. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
amortize finite-lived intangible assets over their estimated useful lives. Finite-lived intangible assets are tested for impairment annually or when impairment indicators are
present, and if impaired, written down to fair value. As a result of the CCG Transaction, we previously recorded an identifiable intangible asset, the rights for CCG to act as a DMM on the NYSE and
NYSE MKT (formerly NYSE Amex). We determined that these rights were fully impaired as of December&nbsp;31, 2012 and have written down the $1.5&nbsp;million of remaining value of these assets to
zero on our consolidated statements of financial condition and recognized a corresponding loss which is recorded within Impairment of intangible assets in the accompanying consolidated statements of
comprehensive income. We have no indefinite-lived intangibles. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Recent Accounting Pronouncements  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Balance Sheet (Topic&nbsp;210)&nbsp;</I></B></FONT><FONT SIZE=2>&#151;&nbsp;In December&nbsp;2011, the FASB issued Accounting Standards Update ("ASU")&nbsp;2011-11,
</FONT> <FONT SIZE=2><I>Disclosures about Offsetting Assets and Liabilities</I></FONT><FONT SIZE=2>. The amended standard requires an entity to disclose information about offsetting and related
arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. An entity is required to apply the amendments for annual reporting
periods beginning on or after January&nbsp;1, 2013, and interim periods within those annual periods. An entity should provide the disclosures required by those amendments retrospectively for all
comparative periods presented. In January&nbsp;2013, the FASB issued ASU&nbsp;2013-01, </FONT><FONT SIZE=2><I>Balance Sheet (Topic&nbsp;210): Clarifying the Scope of Disclosures about
Offsetting Assets and Liabilities</I></FONT><FONT SIZE=2>, which clarified that the scope of ASU&nbsp;2011-11 is limited to include derivatives accounted for in accordance with Topic&nbsp;815,
including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are either offset or subject to an
enforceable master netting arrangement or similar agreement. We have adopted the provisions of ASU&nbsp;2011-11 and the adoption did not have a material impact on our consolidated financial
statements other than additional disclosures. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Comprehensive Income (Topic&nbsp;220)&nbsp;</I></B></FONT><FONT SIZE=2>&#151;&nbsp;In February&nbsp;2013, the FASB issued ASU&nbsp;2013-02, </FONT> <FONT
SIZE=2><I>Comprehensive Income</I></FONT><FONT SIZE=2>. The amendment created new disclosure requirements requiring entities to report the effect of significant reclassifications out of
accumulated other comprehensive income on the respective line items in net income if the amount being reclassified is required under U.S.&nbsp;GAAP to be reclassified in its entirety to net income.
We have retrospectively adopted the provision of ASU&nbsp;2013-02 on January&nbsp;1, 2013. The adoption did not have a material impact on our consolidated financial statements. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>103</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=10,SEQ=108,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=206701,FOLIO='103',FILE='DISK108:[13ZDI1.13ZDI16701]DI16701A.;200',USER='MTITUSS',CD='23-MAR-2015;14:30' -->
<A NAME="page_di16701_1_104"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income Taxes&nbsp;</I></B></FONT><FONT SIZE=2>&#151;&nbsp;In July&nbsp;2013, the FASB issued an ASU to clarify the financial statement presentation of an unrecognized
tax
benefit when a NOL carryforward, a similar tax loss, or a tax credit carryforward exists. This ASU requires entities to present an unrecognized tax benefit as a reduction of a deferred tax asset for a
NOL carryforward whenever the NOL or tax credit
carryforward would be available to reduce the additional taxable income or tax due if the tax position is disallowed. The ASU was effective for reporting periods beginning after December&nbsp;15,
2013. The adoption of this ASU did not have a material impact on our consolidated financial statements. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenue&nbsp;</I></B></FONT><FONT SIZE=2>&#151;&nbsp;In May&nbsp;2014, the FASB issued ASU&nbsp;No.&nbsp;2014-09, "Revenue from Contracts with Customers."
ASU&nbsp;2014-09 is a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects
the consideration it expects to receive in exchange for those goods or services. ASU&nbsp;2014-09 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and
cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASU&nbsp;2014-09 is
effective for annual reporting periods, and interim periods within that period, beginning after December&nbsp;15, 2016 (fiscal year 2017 for us) and early adoption is not permitted. Companies may
use either a full retrospective or a modified retrospective approach to adopt ASU&nbsp;2014-09. We have not yet determined the potential effects of the adoption of ASU&nbsp;2014-09 on our
consolidated financial statements. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repurchase Agreements&nbsp;</I></B></FONT><FONT SIZE=2>&#151;&nbsp;In June,&nbsp;2014, the FASB released ASU&nbsp;No.&nbsp;2014-11, </FONT> <FONT
SIZE=2><I>Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures</I></FONT><FONT SIZE=2>. The amendment changes the accounting for repurchase financing transactions
and for repurchase-to-maturity transactions to secured borrowing accounting. The accounting changes are effective for us beginning in the first quarter of&nbsp;2015. The effect of the accounting
changes on transactions outstanding as of the effective date are required to be presented as a cumulative effect adjustment to retained earnings as of January&nbsp;1, 2015. We are currently
evaluating the impact of the new amendment but believes the effect on its consolidated statements of financial condition and comprehensive income will be immaterial, as we currently do not enter into
these types of repurchase transactions. The amendment also requires additional disclosures for repurchase agreements and securities lending transactions regarding the class of collateral pledged and
the remaining contractual tenor of the agreements, as well as a discussion of the potential risks associated with the agreements and the related collateral pledged, and how those risks are managed.
Additional disclosures are required for repurchase agreements, securities lending transactions, sales with a total return swap and other similar transfers of financial assets that are accounted for as
a sale. The new disclosures are required to be presented beginning in the second quarter of&nbsp;2015. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compensation&nbsp;</I></B></FONT><FONT SIZE=2>&#151;&nbsp;In June 2014, the Emerging Issues Task Force (the "EITF") of the FASB issued ASU 2014-12, </FONT> <FONT
SIZE=2><I>Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period</I></FONT><FONT SIZE=2>.
The amendment requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The ASU is effective for
annual periods and interim periods within those annual periods beginning after December&nbsp;15, 2015. Earlier
adoption is permitted. We are currently evaluating the impact of this ASU on our consolidated financial statements. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Going Concern&nbsp;</I></B></FONT><FONT SIZE=2>&#151;&nbsp;In August 2014, the FASB issued ASU 2014-15, </FONT><FONT SIZE=2><I>Disclosure of Uncertainties about an
Entity's
Ability to Continue as a Going Concern.</I></FONT><FONT SIZE=2> The guidance will explicitly require management to assess an entity's ability to continue as a going concern and to provide related </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>104</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=11,SEQ=109,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=865349,FOLIO='104',FILE='DISK108:[13ZDI1.13ZDI16701]DI16701A.;200',USER='MTITUSS',CD='23-MAR-2015;14:30' -->
<A NAME="page_di16701_1_105"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>footnote
disclosures in certain circumstances. The new standard will be effective in the first annual period ending after December&nbsp;15, 2016. Earlier adoption is permitted. We will implement
this new standard on the required effective date. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hybrid Financial Instruments&nbsp;</I></B></FONT><FONT SIZE=2>&#151;&nbsp;In November 2014, the EITF of the FASB issued ASU 2014-16, </FONT><FONT SIZE=2><I>Determining
Whether
the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share is More Akin to Debt or to Equity</I></FONT><FONT SIZE=2>. The ASU requires that for hybrid financial instruments
issued in the form of a share, an entity should determine the nature of the host contract by considering all stated and implied substantive terms and features of the hybrid financial instrument,
weighing each term and feature on the basis of relevant facts and circumstances. An entity should use judgment based on an evaluation of all the relevant terms and features, and should consider the
economic characteristics and risks of the entire hybrid financial instrument, including the embedded derivative feature that is being evaluated for separate accounting from the host contract. The ASU
is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December&nbsp;15, 2015. For all other entities, the amendments in this ASU
are effective for fiscal years beginning after December&nbsp;15, 2015 (fiscal year 2016 for us) and interim periods within fiscal years beginning after December&nbsp;15, 2016. Early adoption,
including adoption in an interim period, is permitted. We are currently evaluating the impact of this ASU on our consolidated financial statements. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>105</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=12,SEQ=110,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=895972,FOLIO='105',FILE='DISK108:[13ZDI1.13ZDI16701]DI16701A.;200',USER='MTITUSS',CD='23-MAR-2015;14:30' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_dm16701_1_106"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="dm16701_business"> </A>
<A NAME="toc_dm16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  BUSINESS    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Overview  </B></FONT></P>

<P style="font-family:arial;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu is a leading technology-enabled market maker and liquidity provider to the global financial markets. We stand ready, at any
time, to buy or sell a broad range of securities and other financial instruments, and we generate revenue by buying and selling securities and other financial instruments and earning small bid/ask
spreads across a large volume of transactions. We make markets by providing quotations to buyers and sellers in more than 11,000 securities and other financial instruments on more than 225 unique
exchanges, markets and liquidity pools in 34&nbsp;countries around the world. We believe that our broad diversification, in combination with our proprietary technology platform and low-cost
structure, enables us to facilitate risk transfer between global capital markets participants by supplying liquidity and competitive pricing while at the same time earning attractive margins and
returns.

</FONT>

</P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
believe that market makers like us serve an important role in maintaining and improving the overall health and efficiency of the global capital markets by continuously posting bids
and offers for financial instruments and thereby providing to market participants an efficient means to transfer risk. All market participants benefit from the increased liquidity, lower overall
trading costs and enhanced execution certainty that we provide. While in most cases we do not have customers in a traditional sense, we make markets for global banks, brokers and other intermediaries,
in addition to retail and institutional investors, including corporations, individuals, hedge funds, mutual funds, pension funds and other investors, all of whom can access our liquidity on exchanges
or venues in order to transfer risk in multiple securities and asset classes for their own accounts and/or on behalf of their customers. The following table illustrates our diversification and scale: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="22%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="148pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="46%" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:69pt;"><FONT SIZE=2><B>Asset Classes

<!-- COMMAND=ADD_SCROPPEDRULE,69pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:155pt;"><FONT SIZE=2><B>Percentage of<BR>
Adjusted Net Trading<BR>
Income(1)<BR>
(Year Ended December&nbsp;31, 2014)

<!-- COMMAND=ADD_SCROPPEDRULE,155pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:214pt;"><FONT SIZE=2><B>Selected Venues in Which We Make Markets


<!-- COMMAND=ADD_SCROPPEDRULE,214pt -->

 </B></FONT></DIV></TH>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Americas Equities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>26%</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>NYSE, NASDAQ, DirectEdge, NYSE Arca, NYSE MKT, BATS, IEX, TMX, ICE, CME, BM&amp;F Bovespa, major private liquidity pools</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>EMEA Equities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><p align=center style="font-family:arial;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>12%</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><p align=left style="font-family:arial;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>LSE, Deutsche Boerse, NASDAQ OMX, NYSE Euronext, Eurex, Chi-X, BME, XETRA, NYSE Liffe, Turquoise, Borsa Italiana, SIX Swiss
Exchange, Johannesburg Stock Exchange</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>APAC Equities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><p align=center style="font-family:arial;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>7%</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><p align=left style="font-family:arial;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>TSE, SGX, OSE, SBI Japannext, TOCOM</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Global Commodities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><p align=center style="font-family:arial;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>21%</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><p align=left style="font-family:arial;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>CME, ICE, TOCOM, SGX, NYSE Liffe, EBS</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Global Currencies</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><p align=center style="font-family:arial;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>25%</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><p align=left style="font-family:arial;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>CME, ICE, Currenex, EBS, HotSpot, Reuters, FXall, LMAX</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Options, Fixed Income and Other Securities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><p align=center style="font-family:arial;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>&nbsp;&nbsp;10%</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><p align=left style="font-family:arial;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>CBOE, PHLX, NYSE Arca Options, eSpeed, BOX, BrokerTec</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" >


<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>For
a full description of Adjusted Net Trading Income and a reconciliation of Adjusted Net Trading Income to trading income, net, see "Prospectus
Summary&nbsp;&#151; Summary Historical and Pro Forma Consolidated Financial and Other Data." </FONT></DD></DL>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
refer to our market making activities as being "market neutral," which means that we are not dependent on the direction of any particular market and we do not speculate. Our market </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>106</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=111,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=91406,FOLIO='106',FILE='DISK108:[13ZDI1.13ZDI16701]DM16701A.;151',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_dm16701_1_107"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>making
activities are designed to minimize capital at risk at any given time by limiting the notional size of our positions. Our strategies are also designed to lock in returns through precise hedging
in the primary instrument or in one or more economically equivalent instruments, as we seek to eliminate the price risk in any positions held. Our revenue generation is driven primarily by transaction
volume across a broad range of securities and other financial instruments, asset classes and geographies. We avoid the risk of long or short positions in favor of seeking to earn small bid/ask spreads
on large trading volumes across thousands of securities and financial instruments. While we seek to eliminate the price risk of long or short positions, a great number of our trades are not
profitable. For example, for the 252&nbsp;trading days of&nbsp;2014, we averaged approximately 5.3&nbsp;million trades per day globally across all asset classes, and we profitably exited 49% of
our overall positions. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
do not engage in the types of principal investing and predictive, momentum and signal trading in which many other broker-dealers and trading firms engage. In fact, in order to
minimize the likelihood of unintended activities by our market making strategies, if our risk management system detects a trading strategy generating revenues outside of our preset limits, it will
freeze, or "lockdown," that strategy and alert risk management personnel and management. Although this approach may prevent us from maximizing potential returns in times of extreme market volatility,
we believe the reduction in risk is an appropriate trade-off that is in keeping with our aim of generating consistently strong revenue from trading. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
market making activities employ the following three basic strategies: a "single instrument" market making strategy, a "one to one" market making strategy and a "one to many" market
making strategy. The single instrument market making strategy involves actively quoting in a single instrument with the intention of profiting by capturing the spread between the bid and offer. This
strategy places buy orders, or bids, and sell orders, or offers, in the market for the subject instrument at or near the inside of the market with the intention of achieving an execution. If another
market participant executes against the strategy's bid or offer by crossing the spread, the strategy will attempt to exit the position by continuing to quote on the opposite side of the market in
order to execute an offsetting position. The one to one market making strategy involves continuously quoting a two-sided market in a single instrument with the intention of either capturing the spread
in the primary instrument or locking in a return by hedging in a different but economically similar instrument. The one to many market making strategy involves continuously quoting a two-sided market
in a primary instrument (typically an ETF) with the intention of either capturing the spread in the primary instrument or attempting to lock in a return by hedging in a basket of instruments that
represent an economically equivalent value to the primary instrument. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For the years ended December&nbsp;31, 2014 and 2013, our total revenues were approximately $723.1&nbsp;million and $664.5&nbsp;million, respectively, our trading income, net, was
approximately $685.2&nbsp;million and $623.7&nbsp;million, respectively, our Adjusted Net Trading Income was approximately $435.0&nbsp;million and $414.5&nbsp;million, respectively, our net
income was approximately $190.1&nbsp;million and $182.2&nbsp;million, respectively, and our Adjusted Net Income was approximately $226.5&nbsp;million and $215.4&nbsp;million, respectively. For
the year ended December&nbsp;31, 2014, we earned approximately 26% of our Adjusted Net Trading Income from Americas equities (of which approximately 20% was attributable to U.S. equities and
approximately 6% was attributable to Canadian and Latin American equities), 12% from EMEA equities, 7% from APAC equities, 21% from global commodities, 25% from global currencies and 10% from options,
fixed income and other securities. For a reconciliation of Adjusted Net Trading Income to trading income, net, and Adjusted Net Income to net income, see "Prospectus Summary&nbsp;&#151;
Summary Historical and Pro Forma Consolidated Financial and Other Data." Since our inception, we have sought to broadly diversify our market making across securities, asset classes and geographies,
and as a result, for the year ended December&nbsp;31, 2014, we achieved a diverse mix of

 </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>107</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=112,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=796406,FOLIO='107',FILE='DISK108:[13ZDI1.13ZDI16701]DM16701A.;151',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_dm16701_1_108"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>Adjusted
Net Trading Income results, with no one geography or asset class constituting more than 26% of our total Adjusted Net Trading Income. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
chart below illustrates our daily Adjusted Net Trading Income from January&nbsp;1, 2009 through December 31, 2014. The overall breadth and diversity of our market making
activities, together with our real-time risk management strategy and technology, have enabled us to have only one overall losing trading day during the period depicted, a total of 1,485 trading days,
though a significant percentage of our trades are not profitable. For example, during the period beginning January&nbsp;1, 2014 and ending December&nbsp;31, 2014, we executed an average of
5.3&nbsp;million trades per day and we profitably exited 49% of our overall positions. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> Daily Adjusted Net Trading Income Distribution(1)<BR>
(in millions)  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B>
<IMG SRC="g857380.jpg" ALT="GRAPHIC" WIDTH="541" HEIGHT="249">
  </B></FONT></P>

<DL compact>
<DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(1)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">Includes
Madison Tyler Holdings' Adjusted Net Trading Income prior to the Madison Tyler Transactions on July&nbsp;8, 2011. Includes NYSE trading days and
excludes holidays and half days. </FONT></DD></DL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Technology and operational efficiency are at the core of our business, and our focus on market making technology is a key element of our success.
We have developed a proprietary, multi-asset, multi-currency technology platform that is highly reliable, scalable and modular, and we integrate directly with exchanges and other liquidity centers.
Our market data, order routing, transaction processing, risk management and market surveillance technology modules manage our market making activities in an efficient manner and enable us to scale our
market making activities globally and across additional securities and other financial instruments and asset classes without significant incremental costs or third-party licensing or processing fees. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
are a self-clearing registered broker-dealer in the U.S. and are registered with the Central Bank of Ireland for our European trading. We participate on more than 225 unique
exchanges, markets and liquidity pools globally and register as a market maker or liquidity provider and/or enter into direct obligations to provide liquidity on nearly every exchange or venue that
offers such programs. We engage regularly with regulators around the world on issues affecting electronic trading and have been a proponent with the SEC of affirmative market making obligations for
electronic market makers in U.S. equities in an effort to enhance the transparency and liquidity provided to capital markets. In the U.S., we conduct our business from our headquarters in New York,
New York and our trading center in Austin, Texas. Abroad, we conduct our business through trading centers located in Dublin and Singapore. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>108</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=113,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=1046217,FOLIO='108',FILE='DISK108:[13ZDI1.13ZDI16701]DM16701A.;151',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_dm16701_1_109"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Industry and Market Overview  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A "market maker" or "liquidity provider" is commonly defined by stock exchanges, futures exchanges and regulatory authorities around
the world as a person or entity who provides continuous, two-sided quotes at multiple price levels at or near the best bid or offer, taking market risk, through a variety of exchanges and markets,
which are accessible broadly and continuously for immediate execution. Market makers, like us, serve a critical role in the functioning of all financial markets by providing bids and offers for
securities and other financial instruments. Market makers enhance liquidity and execution certainty for all market participants, enabling buyers and sellers to efficiently transfer risk, and are
compensated for this service by earning a small amount of money on the bid/ask spread on individual transactions. A market maker's success depends on it posting competitive prices and accurately and
efficiently responding to relevant market data. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Historically,
market making activities occurred on the physical floor of exchanges, where human traders would execute buy and sell orders for securities. Over the last 20&nbsp;years,
however, the global trading markets have been characterized by the electronification of trading, development of new asset classes, volume growth and improving technology and speed of communication.
The advent of electronic trading venues has changed the traditional trading process for many types of securities in the equity, bond and currency markets. The practice of physical, "open outcry"
trading has largely been replaced by electronic trading platforms. This shift, and the resulting increase in automation and speed and reduction in trading costs, has led to significant growth in
electronic trading volumes, as implied by growth in the aggregate notional value and number of trades on exchanges around the world. According to the World Federation of Exchanges, the number of
equity shares traded electronically grew at a compound annual rate of 15.8% since 2004, from approximately 3.5&nbsp;billion shares in 2004 to approximately 15.1&nbsp;billion shares in 2014. In
addition, according to the Futures Industry Association, trading of futures and options on exchanges has grown at a compound annual rate of 10.4% since 2004, from 8.9&nbsp;billion contracts in 2004
to 21.6&nbsp;billion contracts in 2014, and we believe that a significant portion of this growth has come from the electronification of trading. </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="48%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="48%" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>Yearly Global Exchange Electronic Order Book Volumes<BR>
(billions of shares) </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>Yearly Global Futures and Options Volumes<BR>
(billions of contracts) </B></FONT></TH>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><BR><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><BR>
<FONT SIZE=2><B>
<IMG SRC="g585827.jpg" ALT="GRAPHIC" WIDTH="307" HEIGHT="207">
 </B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><BR>
<FONT SIZE=2><B>
<IMG SRC="g1001494.jpg" ALT="GRAPHIC" WIDTH="301" HEIGHT="192">
 </B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Source: World Federation of Exchanges.</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Source: Futures Industry Association.</B></FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Growth
in foreign exchange market volumes has also been robust. According to the Bank for International Settlements, the daily average market turnover across foreign exchange
instruments in 2013 was $5.3 trillion. This rate represents 12.0% compound annual growth from the April 2004 daily average of $1.9 trillion. Among the various foreign exchange instruments, outright
spots and swaps led this growth as turnover in foreign exchange spot transactions more than tripled from </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>109</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=114,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=372005,FOLIO='109',FILE='DISK108:[13ZDI1.13ZDI16701]DM16701A.;151',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_dm16701_1_110"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>$631&nbsp;billion
in April 2004 to $2.0&nbsp;trillion in April 2013 and the daily average turnover of foreign exchange swaps increased from $954&nbsp;billion to $2.2&nbsp;trillion during the
same period. </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="48%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="48%" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  COLSPAN=3 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:274pt;"><FONT SIZE=2><B>Global Foreign Exchange Market Volumes, Net-Net Basis<BR>
(dollars in trillions)

<!-- COMMAND=ADD_SCROPPEDRULE,274pt -->

 </B></FONT></DIV></TH>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:arial;"><BR><BR>
<FONT SIZE=2><B>
<IMG SRC="g528586.jpg" ALT="GRAPHIC" WIDTH="565" HEIGHT="130">
 </B></FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Source: Bank for International Settlements.</B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Growth
in the electronic trading markets has led to increased competition among market makers. Successful firms have had to automate their trading and develop efficient, scalable
technology platforms to remain competitive. Electronic market makers employ technology and automated trading applications to place bids and offers more quickly and transact at a lower cost than their
predecessors, leading to enhanced liquidity and more efficient pricing for all market participants. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Market
structures have become increasingly complex and diverse. Although in some geographies and asset classes trading continues to occur through a single exchange, many markets for
many asset classes, such as U.S. and European equities, have become increasingly fragmented. While we believe this fragmentation and related competition have been beneficial to all market
participants, leading to more compressed bid/ask spreads and creating deeper liquidity, they have also created greater complexity and have required electronic market makers to expand their
infrastructure to connect with more venues. We believe this trend will enable larger firms with scalable infrastructure, like us, to capture more of these opportunities. The chart below illustrates
decreasing shares of market volumes in cash equities on certain major exchanges across the world, signifying increased market fragmentation. </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="24%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="24%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="24%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="24%" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  COLSPAN=7 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:217pt;"><FONT SIZE=2><B>Percentage of Cash Equities Market Volumes

<!-- COMMAND=ADD_SCROPPEDRULE,217pt -->

 </B></FONT></DIV></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>US<BR>
(NYSE&nbsp;&amp; NASDAQ) </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>Canada<BR>
(TSX) </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>United&nbsp;Kingdom<BR>
(LSE) </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>Germany<BR>
(Deutsche Boerse) </B></FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=7 ALIGN="CENTER" style="font-family:arial;"><BR><FONT SIZE=2><B>
<IMG SRC="g298656.jpg" ALT="GRAPHIC" WIDTH="684" HEIGHT="198">
 </B></FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Source: BATS Global Markets for US, London and Germany, Investment Industry Regulatory Organization of Canada (IIROC) for
Canada.</B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increased volumes and penetration of electronic trading have been greatest in developed markets, particularly in the U.S. However, we believe
that many other global markets will become </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>110</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=115,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=497808,FOLIO='110',FILE='DISK108:[13ZDI1.13ZDI16701]DM16701A.;151',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_dm16701_1_111"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>more
liquid, efficient and electronic over time, in part through the increased participation of electronic market makers, which will result in greater volume growth and transaction velocity. Automated
services that provide continuous bids and offers across many securities and asset classes are fundamental to this transformation. Furthermore, regulatory changes impacting the OTC derivatives markets,
such as the European Markets Infrastructure Regulation and the Dodd-Frank Act, will require many formerly OTC products to be cleared through central clearing houses, potentially causing an increase in
market-traded futures volumes. Unlike exchange traded futures, OTC derivatives have historically traded between two parties. However, increased regulatory requirements for transactions in OTC
derivatives may cause some market participants to shift their trading toward exchange traded futures. The OTC derivatives market is large but has significantly
less trading volume than the listed futures market. The "futurization" of the large OTC derivatives markets and the potential for increased trading volume could result in higher volumes and
subsequently more opportunities for electronic market makers. </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="49%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="49%" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>The OTC Market Is Currently Larger<BR>
than the Exchange Market<BR>
(Notional Outstanding Value, dollars in trillions) </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>Exchange Contracts Experience<BR>
Higher Trading Levels<BR>
(Turnover/Notional) </B></FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
 <IMG SRC="g44983.jpg" ALT="GRAPHIC" WIDTH="543" HEIGHT="195">
<BR> </B></FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Source: Bank for International Settlements.</B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Our Competitive Strengths  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Critical Component of an Efficient Market Eco-System.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;As a leading, low-cost market maker dedicated to providing
improved efficiency and liquidity
across multiple securities, asset classes and geographies, we aim to provide critical market functionality and robust price competition, leading to reduced trading costs and more efficient pricing in
the securities and other financial instruments in which we provide liquidity. This contribution to the financial markets, and the scale and diversity of our market making activities, provides added
liquidity and transparency, which we believe are necessary and valued components to the efficient functioning of market infrastructure and benefit all market participants. We support transparent and
efficient, technologically advanced marketplaces, and advocate for legislation and regulation that promotes fair and transparent access to markets. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cutting Edge, Proprietary Technology.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Technology is at the core of our business. Our team of software engineers
develops all of our core software
internally, and we utilize optimized infrastructure to integrate directly with the exchanges and other trading venues on which we provide liquidity. Wherever possible, we lease commercially available
rack space that is co-located with, or in close proximity to, the exchanges and other venues where we provide liquidity. We do not pay any licensing or per-trade processing fees to any third parties,
and the engineering cycles for enhancements or new technologies are entirely within our control. Our focus on technology and our ability to leverage our technology enables us to be one of the lowest
cost providers of liquidity to the global electronic trading marketplace. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>111</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=116,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=150030,FOLIO='111',FILE='DISK108:[13ZDI1.13ZDI16701]DM16701A.;151',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_do16701_1_112"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->





<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->




<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT> <FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P style="font-family:arial;">


<FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consistent, Diversified and Growing Revenue Base.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;We generate revenues by making markets and earning small bid/ask
spreads in more than 11,000
listed securities and other financial instruments on more than 225 unique exchanges, markets and liquidity pools in 34 countries around the world. The reliability and scalability of our technology
platform also allow us to capitalize on higher transaction volumes during periods of extraordinary market volatility and enable us to diversify our Adjusted Net Trading Income through asset class and
geographic expansion. As a result, during the year ended December&nbsp;31, 2014, no single asset class or geography constituted more than 26% of our total Adjusted Net Trading Income. Our
diversification, together with our revenue generation strategy of earning small bid/ask spreads on large trading volumes across thousands of securities, enables us to deliver consistent Adjusted Net
Trading Income under a wide range of market conditions.

 </FONT>

</P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Low Costs and Large Economies of Scale.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Our high degree of automation, together with our ability to reduce external
costs by internalizing certain
trade processing functions, enables us to leverage our low market making costs over large trading volumes. Our market making costs are low due to several factors. As a self-clearing DTC member, we
avoid paying clearing fees to third parties in our U.S. equities market making business. In addition, because of our significant scale, we are able to
obtain competitive pricing for trade processing functions and other costs that we do not internalize. Our significant volumes generally place us in the lowest cost tiers of brokerage, clearing and
exchange fees for venues that provide tiered pricing structures. Our low-cost structure allows us to maintain a marginal cost per trade that we believe is favorable compared to our
competitors. Our scale is further demonstrated by our headcount&nbsp;&#151; as of December&nbsp;31, 2014, we had only 148 employees. Our business efficiency is also reflected in our
operating margins and our Adjusted EBITDA margins. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real-Time Risk Management.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Our trading is designed to be non-directional, non-speculative and market neutral. Our
market making strategies are
designed to put minimal capital at risk at any given time by limiting the notional size of our positions. Our strategies are also designed to lock in returns through precise hedging in the primary
instrument or in one or more economically equivalent instruments, as we seek to eliminate the price risk in any positions held. Our real-time risk management system is built into our trading platform
and is an integral part of our order life-cycle, analyzing real-time pricing data and ensuring that our order activity is conducted within strict pre-determined trading and position limits. If our
risk management system detects that a trading strategy is generating revenues or losses in excess of our preset limits, it will lockdown that strategy and alert management. In addition, our risk
management system continuously reconciles our internal transaction records against the records of the exchanges and other liquidity centers with which we interact. As a result of our successful
real-time risk management strategy, we have had only one losing trading day since January&nbsp;1, 2008. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proven and Talented Management Team.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Our management team, with an average of approximately 20&nbsp;years of industry
experience, is led by
individuals with diverse backgrounds and deep knowledge and experience in the development and application of technology to the electronic trading industry. Mr.&nbsp;Vincent Viola, our Founder and
Executive Chairman, is the former Chairman of the NYMEX and has been a market maker his entire career since leaving active duty in the U.S. Army and joining the NYMEX in 1982. Mr.&nbsp;Viola is
widely recognized as an innovator and pioneer in market making and electronic trading over his 30-plus year career. Our Chief Executive Officer, Mr.&nbsp;Douglas&nbsp;A. Cifu has been with us
since our founding in 2008 and previously was a Partner with the international law firm of Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison&nbsp;LLP. Our Chief Financial Officer, Joseph Molluso, has
been with us since 2013 and previously was a Managing Director in the Investment Banking division at J.P.&nbsp;Morgan. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>112</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=117,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=304560,FOLIO='112',FILE='DISK108:[13ZDI1.13ZDI16701]DO16701A.;125',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_do16701_1_113"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Our Key Growth Strategies  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capitalize on secular growth in electronic trading of global listed securities markets and continue to increase market penetration.</I></B></FONT><FONT
SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;We expect that
global electronic trading volumes will continue to grow, driven by various factors, including technology, globalization, convergence of exchange and non-exchange markets and the evolving regulatory
environment. According to the World Federation of Exchanges, the number of equity shares traded through an electronic order book grew at a compound annual rate of 15.8% since 2004, from approximately
3.5&nbsp;billion shares in 2004 to approximately 15.1&nbsp;billion shares in 2014. In addition, according to the Futures Industry Association, trading of futures and options on exchanges has grown
at a compound annual rate of 10.4% since 2004, from 8.9&nbsp;billion contracts in 2004 to 21.6&nbsp;billion contracts in 2013, and we believe that a significant portion of this growth has come
from the electronification of trading. Our ability to offer competitive bid and offer quotes, facilitated by our proprietary, scalable technology platform and our low-cost structure, has enabled us to
grow our business and add trading volume at little incremental cost. As a result, we expect to be well positioned to capitalize on future growth in the global electronic trading markets, particularly
in certain asset classes in which we have lower Adjusted Net Trading Income or are not yet a participant. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provide increasing liquidity across a wider range of new securities and other financial instruments.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;We believe that
the full implementation of the
European Markets Infrastructure Regulation and the Dodd-Frank Act in the U.S. will increase transparency, liquidity and efficiency in global trading markets and encourage the further development of
trading opportunities in certain asset classes in which highly liquid electronic markets remain limited or nonexistent due to historical reliance on bilateral voice trading and other inefficient
processes. The migration of these products to electronic markets will provide us with an opportunity to deploy our market making strategies in asset classes that are not accessible to us currently
including, for example, interest rate swaps, interest rate swap futures, CDS index futures and OTC energy swaps. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grow geographically.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;We trade on over 225 unique exchanges, markets and liquidity pools around the world, located in
34 countries. We look to expand
into new geographies when access is available to us and the applicable regulatory scheme permits us to deploy our strategy. Given the scalability of our platform, we believe we will be able to expand
into new geographies and begin generating revenues quickly with little incremental cost. We intend to continue to expand our market making business into new geographic locations, including locations
in the EMEA and APAC markets, where we began making markets in 2008 and 2010, respectively. We entered the
Japanese, Australian and certain other Asian markets beginning in late 2011, and we expect those markets to be growth areas for us. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Leverage our technology to offer additional technology services to market participants.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;We believe that our order
management, market data, order
routing, processing, risk management and market surveillance technology modules offer a key value proposition to market participants and that sharing our technological capabilities with market
participants in a manner that expands electronic trading will create more opportunities for market making as trading volumes increase. For example, we adapted our existing technology to provide a
customized automated trading platform for foreign exchange products to a major financial institution. We believe this platform will increase transparency, liquidity and efficiency for that financial
institution and will provide us with a unique opportunity to provide liquidity and market making services directly to other financial institutions as well. In 2014, we also entered into an order
routing agreement with a registered broker-dealer in order to assist it in its execution of institutional order flow. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expand customized liquidity solutions.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;We also provide liquidity and competitive pricing in foreign currency markets
directly to market participants
on our VFX platform and through other customized liquidity arrangements. We offered more than 75 different pairs of currency products as </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>113</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=118,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=367194,FOLIO='113',FILE='DISK108:[13ZDI1.13ZDI16701]DO16701A.;125',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_do16701_1_114"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>of
December&nbsp;31, 2014. We intend to offer this same type of customized liquidity in other asset classes globally. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursue strategic partnerships and acquisitions.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;We intend to selectively consider opportunities to grow through
strategic partnerships or
acquisitions that enhance our existing capabilities or enable us to enter new markets or provide new products and services. For example, the Madison Tyler Transactions created economies of scale with
substantial synergy opportunities realized to date and allowed us to enhance our international presence. In addition, with our acquisition of the ETF market making assets of Nyenburgh in the third
quarter of 2012, we became an OTC market maker in ETFs and from time to time provide two-sided liquidity to a significant number of counterparties throughout Europe. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> Diversity of Our Market Making  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We make markets in a number of different assets classes, which are discussed in more detail below. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Americas Equities  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Americas equities trading accounted for approximately 26% and 27% of our Adjusted Net Trading Income for the years ended
December&nbsp;31, 2014 and 2013, respectively. In 2014, of the 26% of our Adjusted Net Trading Income attributable to Americas equities, approximately 20% was attributable to U.S. equities and
approximately 6% was attributable to Canadian and Latin American equities. We trade approximately 6,000 Americas equity securities including, among others, equity related futures and exchange traded
funds, on eleven SEC registered exchanges as well as other alternative trading systems, including the NYSE, the NASDAQ, Direct Edge, NYSE Arca, BATS and IEX, the TSX in Canada, Bovespa in Brazil and
BMV in Mexico, and we connect to more than 20 private liquidity pools. In 2011, we became a DMM in over 260 stocks on the floor of the NYSE and the NYSE MKT (formerly NYSE Amex), and we are seeking to
increase the number of listed NYSE stocks for which we serve as a DMM. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
exchange traded funds, or "ETFs," and other similar products have proliferated both domestically and internationally, demand has increased for trading the underlying assets or
hedging such funds. Our technology has enabled us to expand into providing liquidity to this growing area by making markets across these assets in a variety of trading venues globally. We are
authorized participants and can create and/or redeem ETFs in Americas equities, EMEA equities and APAC equities. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> EMEA Equities  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EMEA equities trading accounted for approximately 12% and 11% of our Adjusted Net Trading Income for the years ended
December&nbsp;31, 2014 and 2013, respectively. Similar to our strategy in the Americas, we utilize proprietary connections to all of the registered exchanges in a particular jurisdiction including
the LSE, BATS-Chi-X Europe and NYSE Euronext, as well as any additional pools of liquidity to which we can gain access either directly or through a broker. We are also well positioned in European
ETFs, as an authorized participant in many
European ETFs. In addition, after our acquisition of the ETF market making assets of Nyenburgh, we provide two-sided liquidity to a significant number of counterparties throughout Europe. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> APAC Equities  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;APAC equities trading accounted for approximately 7% and 11% of our Adjusted Net Trading Income for the years ended
December&nbsp;31, 2014 and 2013, respectively. We utilize proprietary connections to the ASX, TSX and SGX, among other exchanges and liquidity pools. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>114</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=119,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=146402,FOLIO='114',FILE='DISK108:[13ZDI1.13ZDI16701]DO16701A.;125',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_do16701_1_115"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Global Commodities  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trading in global commodities accounted for approximately 21% and 23% of our Adjusted Net Trading Income for the years ended
December&nbsp;31, 2014 and 2013, respectively. During these periods, we had leading volumes on both the CME and ICE in trading crude oil, natural gas, heating oil and gasoline futures. We trade
approximately 100 energy products and futures on the ICE, CME, TOCOM and NYSE Liffe US. We also actively trade precious metals, including gold, silver, platinum and palladium. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Global Currencies  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trading in global currencies, including spot, futures and forwards, accounted for approximately 25% and 20% of our Adjusted Net
Trading Income for the years ended December&nbsp;31, 2014 and 2013, respectively. During these periods, we were a leading participant in the major foreign exchange venues, including Reuters,
Currenex, Hotspot FX and EBS. Currency trading has historically utilized intermediaries and large broker-dealers, and as a result, market making opportunities in foreign exchange have been limited. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Options, Fixed Income and Other Securities  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trading in other products, U.S. and foreign government fixed income products and options accounted for approximately 10% and 9% of our
Adjusted Net Trading Income for the years ended December&nbsp;31, 2014 and 2013, respectively. We trade these products on a variety of specialized exchanges and other trading venues, including all
of the U.S. options exchanges of which we are a member (i.e.,&nbsp;CBOE, ISE and NYSE Arca) and through the U.S. futures exchanges. We believe that we can increase our volumes in certain of these
products. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Technology  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have developed, in-house, a single proprietary, scalable and modular technology platform that we directly integrate with exchanges
and other trading venues through customized infrastructure to provide continuous bid and offer quotations on a wide variety of assets traded electronically around the world. Our platform incorporates
market data and evaluates risk exposure on a real-time basis to update outstanding quotes often many times per second, enabling us to offer competitive bid/ask spreads. Our high degree of automation
reduces our costs, and we believe our cost per trade is as low as or lower than any other market participants. Leveraging the scalability and low costs of our platform, we are able to test and rapidly
deploy new liquidity provisioning strategies, expand to new securities, asset classes and geographies and increase transaction volumes at little incremental cost. These efficiencies are central to our
ability to deliver consistently positive Adjusted Net Trading Income as our profitability per trade and per instrument is not significant, particularly in U.S. equities. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
transaction processing is automated over the full life cycle of a trade. Our platform generates and disseminates continuous bid and offer quotes on over 11,000 tradable listed
products. It simultaneously searches for the best possible combination of prices available at the time an order is placed and immediately seeks to execute that order electronically or send it where
the order has the highest probability of execution at the best price. At the moment a trade is executed, our systems capture and deliver this information back to the source, in most cases within a
fraction of a second, and the trade record is written into our clearing system, where it flows through a chain of control accounts that allow us to reconcile trades, positions and payments until the
final settlement occurs. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
core software technology is developed internally, and we do not generally rely on outside vendors for software development or maintenance. To achieve optimal performance from our </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>115</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=120,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=96862,FOLIO='115',FILE='DISK108:[13ZDI1.13ZDI16701]DO16701A.;125',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_do16701_1_116"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>systems,
we continuously test and upgrade our software. Our focus on cutting-edge technology not only improves our performance but also helps us attract and retain talented developers. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtually
all of our software has been developed and maintained with a unified purpose. We track and test new software releases with proprietary automated testing tools and are not
hindered by disparate or limiting legacy systems assembled through acquisitions. Although we acquired new technology as a result of the Madison Tyler Transactions in 2011, we had substantially
completed integration of core trading technologies within eight to twelve months of the close of the transaction. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
have built and continuously refined our automated and integrated, real-time systems for world-wide trading, risk management, clearing and cash management, among other purposes. We
have also assembled a proprietary connectivity network between us and exchanges around the world. Efficiency and speed in performing prescribed functions are always crucial requirements for our
systems, and generally we focus on opportunities in markets that are sufficiently advanced to allow the seamless deployment of our automated strategies, risk management system and core technology. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
systems are monitored 24&nbsp;hours a day, five days a week by our core operations team and are substantially identical across our four offices, in New York, New York, Austin,
Texas, Dublin, Ireland and Singapore. This redundancy covers our full technology platform, including our market data, order routing, transaction processing, risk management and market surveillance
technology modules. Because our systems can be operated by qualified personnel in any office at any time across our globally distributed offices, we have an effective, organic disaster recovery and
business continuity plan in place, allowing for seamless operation of our trading strategies in the event of disruption. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Risk Management  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are intensely focused on risk management and monitor our activities on a continuous basis using our fully integrated technology
systems. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Risk
management is at the core of our trading infrastructure. Our real-time risk controls monitor all of our market making positions, incorporating market data and evaluating our risk
exposure to continuously update our outstanding bid and offer quotes, often many times per second. Although
our market making is automated, the trading process and our risk exposure are monitored by a team of individuals, including members of our senior management team, who oversee our risk management
processes in real time. Our risk management system is intrinsic to our trading infrastructure that is utilized in each of our four trading centers. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
risk management policies are set by our Risk Committee and overseen by our Chief Risk Officer. We utilize the following three-pronged approach to managing
risk: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2><I>Strategy Lockdowns.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;Messages that leave our trading
environment must first pass through a series of preset risk controls, or "lockdowns," which are intended to minimize the likelihood of unintended activities by our market making algorithms, and which
cannot be modified by our traders. Not only do we implement preset risk controls to limit downside risk, but we also do the same to limit upside risk&nbsp;&#151; if our risk management system
detects that a trading strategy is generating revenues or losses in excess of our preset limits, a lockdown will be triggered. When a lockdown is triggered, our risk management system alerts us and
automatically freezes the applicable trading strategy, cancels all applicable open orders and prevents the placement of additional related orders. Following a lockdown, a trader must manually reset
the applicable trading strategy. While this risk prevention layer adds a degree of latency to our trading infrastructure and can prevent us from earning outsized returns in </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>116</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=121,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=177398,FOLIO='116',FILE='DISK108:[13ZDI1.13ZDI16701]DO16701A.;125',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_do16701_1_117"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<UL>
<UL>

<P style="font-family:arial;"><FONT SIZE=2>times
of extreme market volatility, we believe that this trade-off is necessary to properly limit our downside risk.  </FONT></P>

</UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2><I>Aggregate Exposure Monitoring.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;Pursuant to our risk
management policies, our automated management information systems generate reports in real-time as well as on daily and periodic bases. These reports include risk profiles, profit and loss analyses
and trading performance reports. Our assets and liabilities are marked-to-market daily for financial reporting purposes by reference to official exchange prices, and they are re-valued continuously
throughout the trading day for risk management and asset/liability management purposes.  </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2><I>Operational Controls.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;We have automated the full cycle of
controls of our business. Key automated controls include: </FONT> <FONT SIZE=2>
<BR><BR></FONT>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>our technical operations system continuously monitors our network and the proper functioning of each of our trading
centers around the world;  </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>our market making system continuously evaluates over 11,000 listed securities in which we provide bid and offer quotes and
changes its bids and offers in such a way as to minimize exposure to directional price movements. The speed of communicating with exchanges and market centers is maximized through continuous software
and network engineering innovation, allowing us to achieve real-time controls over market exposure. We connect to exchanges and other electronic venues through a network of co-location facilities
around the world that are monitored 24&nbsp;hours a day, five days a week, by our staff of experienced network professionals;  </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>our clearing system captures trades in real time and performs automated reconciliations of trades and positions, corporate
action processing, options exercises, securities lending and inventory management, allowing us to effectively manage operational risk; and  </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>software developed to support our market making systems performs daily profit and loss and position reconciliations. </FONT></DD></DL>
</DD></DL>
</UL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, we seek to minimize our liquidity risk by focusing our trading in highly active and liquid instruments. The diversity of assets and venues in which we provide liquidity
serves as a further form of portfolio risk management. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
Risk Committee includes key personnel from each of our locations globally and is comprised of our Chief Risk Officer, members of our senior management team, senior technologists and
traders, and certain senior compliance officers. Our board of directors is regularly apprised of the activities of our Risk Committee and our risk management policies, procedures and controls through
board updates and other communications. All of our risk controls and settings are reviewed and approved by our Risk Committee. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Competition  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Historically, our competition has been registered market making firms ranging from sole proprietors with very limited resources to
large, integrated broker-dealers. Today, a range of market participants may compete with us for revenues generated by market making activities across one or more asset classes and geographies,
including large broker-dealers, such as Bank of America Merrill Lynch, Citigroup, Goldman Sachs, Morgan Stanley and UBS, and other participants, such as Citadel, DRW Holdings, Hudson River Trading,
IMC, KCG Holdings, Optiver, Susquehanna, Timber Hill and Wolverine Trading. Some of our competitors in market making are larger than we are and have more captive order flow in certain assets. We
believe that the high cost of developing a competitive technological framework is a significant barrier to entry by new market participants. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>117</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=122,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=156404,FOLIO='117',FILE='DISK108:[13ZDI1.13ZDI16701]DO16701A.;125',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_do16701_1_118"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
believe that we must have more sophisticated, versatile and robust software than our competitors in order to maintain a competitive advantage. Technology and software innovation is a
primary focus for us, rather than relying solely on the speed of our network. We believe that our scalable technology allows us to access new markets and increase volumes with limited incremental
costs. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, we believe our lack of direct customers and customer accounts allows us increased flexibility as we face fewer constraints in reallocating resources to pursue market
opportunities as they arise. We are also a self-clearing DTC participant, so we avoid paying clearing fees to third parties in our U.S. equities market making business. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Intellectual Property and Other Proprietary Rights  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We rely primarily on trade secret, trademark, domain name, copyright and contract law to protect our intellectual property and
proprietary technology. We enter into confidentiality, intellectual property invention assignment and/or non-competition and non-solicitation agreements or restrictions with our employees, independent
contractors and business partners, and we strictly control access to and distribution of our intellectual property. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Properties  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We lease office space in New York, New York, which serves as our corporate headquarters and as a trading center, and office space in
other locations, including Austin, Texas, which serves as a trading center, and Dublin and Singapore, our respective European and Asian regional headquarters and trading centers. We also lease rack
space in data centers that are co-located with exchanges around the world. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Employees  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As of December&nbsp;31, 2014, we had 148 employees, all of whom were employed on a full-time basis. None of our employees is covered
by collective bargaining agreements. We believe that our employee relations are good. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Legal Proceedings  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;From time to time we may be involved in disputes or litigation relating to claims arising out of our operations. We have also been,
are currently, and may in the future be, the subject of one or more regulatory or SRO enforcement actions, including but not limited to targeted and routine regulatory inquiries and investigations
involving Regulation NMS, Regulation SHO, capital requirements and other domestic and foreign securities rules and regulations. In addition, the AMF is examining the trading activities of a subsidiary
of Madison Tyler Holdings in certain French listed equity securities on or around 2009 (see "Risk Factors&nbsp;&#151; Non-compliance with applicable laws or regulatory requirements could
negatively impact our reputation, prospects, revenues and earnings"). We and other broker-dealers and trading firms have also been the subject of requests for information and documents from the SEC
and the NYAG. We have been cooperating and complying with the SEC's and NYAG's requests for information and documents. We are not currently a party to any legal or regulatory proceedings that, based
on information currently available, could reasonably be expected to have a material adverse effect on our business, financial condition, results of operations and cash flows. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Regulation  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We conduct our U.S. equities market making activities through our two SEC-registered broker-dealers, Virtu Financial BD&nbsp;LLC and
Virtu Financial Capital Markets&nbsp;LLC. Virtu Financial BD&nbsp;LLC is a self-clearing broker-dealer, is regulated by the SEC and its designated examining authority is the </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>118</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=7,SEQ=123,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=864949,FOLIO='118',FILE='DISK108:[13ZDI1.13ZDI16701]DO16701A.;125',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_do16701_1_119"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>Chicago
Stock Exchange. Virtu Financial Capital Markets&nbsp;LLC is regulated by the SEC and its designated examining authority is FINRA. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
activities in U.S. equities are almost entirely self-cleared. We are a full clearing member of the National Securities Clearing Corporation, or NSCC, and the DTC. In other asset
classes, we use the services of prime brokers who provide us direct market access to markets and often the benefits of cross-margining and margin financing in return for an execution and clearing fee.
We continually monitor the credit quality of our prime brokers and rely on large multinational banks for most of our execution and clearing needs globally. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
energy, commodities and currency market making and trading activities are conducted through Virtu Financial Global Markets&nbsp;LLC. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
conduct our EMEA market making and trading activities from Dublin and through our Irish subsidiaries, Virtu Financial Ireland Limited, which is authorized as an "Investment Firm"
with the Central Bank of Ireland, and Virtu Financial Europe Limited. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
conduct our APAC market making and trading activities from Singapore and through our Singapore subsidiary, Virtu Financial Singapore Pte.&nbsp;Ltd., and our Australian subsidiary,
Virtu Financial Asia Pty.&nbsp;Ltd. Virtu Financial Singapore Pte.&nbsp;Ltd. is registered with the Monetary Authority of Singapore for an investment incentive arrangement, and Virtu Financial
Asia Pty.&nbsp;Ltd. holds a financial services license issued by, and is therefore subject to the regulatory oversight of, the Australian Securities and Investments Commission. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Most
aspects of our business are subject to extensive regulation under federal, state and foreign laws and regulations, as well as the rules of the various SROs of which our
subsidiaries are members. The SEC, CFTC, state securities regulators, FCA, SFC, FINRA, NFA, other SROs and other U.S. and foreign governmental regulatory bodies promulgate numerous rules and
regulations that may impact our business. As a matter of public policy, regulatory bodies are charged with safeguarding the integrity of the securities and other financial markets and with protecting
the interests of investors in those markets. Regulated entities are subject to regulations concerning all aspects of their business, including trading practices, order handling, best execution
practices, anti-money laundering, handling of material non-public information, safeguarding data, securities credit, capital adequacy, reporting, record retention, market access and the conduct of
officers, employees and other associated persons. We do not carry customer accounts and are therefore exempt from otherwise applicable SEC requirements relating to the protection of customer
securities and the maintenance of a cash reserve account for the benefit of customers. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rulemaking
by these and other regulators (foreign and domestic), including resulting market structure changes, has had an impact on our regulated subsidiaries by directly affecting our
method of operation and, at times, our profitability. Legislation can impose, and has imposed, significant obligations on broker-dealers, including our regulated subsidiaries. These increased
obligations require the implementation and maintenance of internal practices, procedures and controls which have increased our costs and may subject us to government and regulatory inquiries, claims
or penalties. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Failure
to comply with any laws, rules or regulations could result in administrative or court proceedings, censures, fines, penalties, disgorgement and censures, suspension or expulsion
from a certain jurisdiction, SRO or market, the revocation or limitation of licenses, the issuance of cease-and-desist orders or injunctions or the suspension or disqualification of the entity and/or
its officers, employees or other associated persons. These administrative or court proceedings, whether or not resulting in adverse findings, can require substantial expenditures of time and money and
can have an adverse impact on a firm's reputation. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
regulatory environment in which we operate is subject to constant change. Our business, financial condition and operating results may be adversely affected as a result of new or
revised </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>119</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=8,SEQ=124,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=656758,FOLIO='119',FILE='DISK108:[13ZDI1.13ZDI16701]DO16701A.;125',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_do16701_1_120"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>legislation
or regulations imposed by the U.S. Congress, foreign legislative bodies, state securities regulators, U.S. and foreign governmental regulatory bodies and SROs. Additional regulations,
changes in existing laws and rules, or changes in interpretations or enforcement of existing laws and rules often directly affect the method of operation and profitability of regulated broker-dealers.
We cannot predict what effect, if any, such changes might have. However, there have been in the past, and could be in the future, significant technological, operational and compliance costs associated
with the obligations which derive from compliance with such regulations. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Since
March 2014, in connection with news media attention to electronic trading and market structure, we and other broker-dealers and trading firms have been the subject of requests for
information and documents from the SEC and NYAG. We have been cooperating and complying with the SEC's and NYAG's requests for information and documents. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
July&nbsp;21, 2010, the Dodd-Frank Act was enacted in the U.S. Implementation of the Dodd-Frank Act will be accomplished through extensive rulemaking by the SEC and other
governmental agencies. The Dodd-Frank Act includes the "Volcker Rule," which significantly limits the ability of banks to engage in proprietary trading, and Title VII, which provides a framework for
the regulation of the swap markets. The Dodd-Frank Act also mandates the preparation of studies on a wide range of issues. These studies could lead to additional regulatory changes. At this time, it
is difficult to assess the impact that the Dodd-Frank Act will have on us and on the financial services industry. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
have foreign subsidiaries and plan to continue to expand our international presence. The market making industry in many foreign countries is heavily regulated, much like in the U.S.
The varying compliance requirements of these different regulatory jurisdictions and other factors may limit our ability to conduct business or expand internationally. For example, MiFID, which was
implemented in November 2007, is now under further review by the European Parliament. MiFID represented one of the more significant changes to take place in the operation of European capital markets.
In October 2012, the European Parliament adopted, with amendments, MiFID&nbsp;II/MiFIR. MiFID II/MiFIR will not be finalized until the completion of trialogues among the European Commission,
European Parliament and Council of the European Union, which began in the third quarter of 2013. Some broader trends of the proposals address increased transparency and oversight of financial firms,
with a focus on high frequency trading, broker liquidity private pools, crossing networks and multilateral trading facilities. For example, the current proposal would require firms like us to conduct
all trading on European markets through authorized investment firms. MiFID&nbsp;II/MiFIR will also require certain types of firms, including us, to post firm quotes at competitive prices and will
supplement current requirements with regard to investment firms' risk controls related to the safe operation of electronic systems. MiFID II/MiFIR may also impose additional requirements on our
trading platforms, such as a minimum order resting time, cancellation fees, circuit breakers and limits on the ratio of unexecuted orders to trades. Each of these proposals may impose technological
and compliance costs on us. Any of these laws, rules or regulations, if adopted, as well as any regulatory or legal actions or proceedings, changes in legislation or regulation and changes in market
customs and practices could have a material adverse effect on our business, financial condition and results of operations. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain
of our subsidiaries are subject to regulatory capital rules of the SEC, FINRA, other SROs and foreign regulators. These rules, which specify minimum capital requirements for our
regulated subsidiaries, are designed to measure the general financial integrity and liquidity of a broker-dealer and require that at least a minimum part of its assets be kept in relatively liquid
form. Failure to maintain required minimum capital may subject a regulated subsidiary to a requirement to cease conducting business, suspension, revocation of registration or expulsion by applicable
regulatory authorities, and ultimately could require the relevant entity's liquidation. See "Risk Factors&nbsp;&#151; Risks Related to Our Business&nbsp;&#151; Failure to comply with
applicable regulatory capital requirements could subject us to sanctions imposed by the SEC, FINRA and other SROs or regulatory bodies." </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>120</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=9,SEQ=125,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=413748,FOLIO='120',FILE='DISK108:[13ZDI1.13ZDI16701]DO16701A.;125',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_dq16701_1_121"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="dq16701_management"> </A>
<A NAME="toc_dq16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  MANAGEMENT    <BR>    </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> Directors and Executive Officers  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table sets forth the names and ages of our executive officers and directors as of the date of this prospectus. </FONT></P>
 <DIV style="padding:0pt;position:relative;width:67%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"120%" -->


<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="120%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="27pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="312pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:28pt;"><FONT SIZE=2><B>Name

<!-- COMMAND=ADD_SCROPPEDRULE,28pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>Age </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:39pt;"><FONT SIZE=2><B>Position

<!-- COMMAND=ADD_SCROPPEDRULE,39pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2> Vincent Viola</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>59</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>Founder, Executive Chairman and Chairman of the Board of Directors</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Douglas A. Cifu</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>49</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>Chief Executive Officer and Director</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Joseph Molluso</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>46</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>Executive Vice President and Chief Financial Officer</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Venu Palaparthi</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>44</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>Senior Vice President, Compliance, Regulatory and Government Affairs</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>General John Philip Abizaid (Ret.)</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>63</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>Director</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Michael Bingle</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>42</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>Director</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>William F. Cruger, Jr.&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>56</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>Director</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Joseph Osnoss</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>37</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>Director</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>John F. (Jack) Sandner</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>73</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>Director</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>

<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Set
forth below is a brief biography of each of our executive officers and directors. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B><I>Vincent Viola</I></B></FONT><FONT SIZE=2> is our Founder and has served as our Executive Chairman since November 2013. He is also the Chairman of our board of
directors. He previously served as Chief Executive Officer and Chairman of the board of directors of Virtu Financial and its predecessors since April 2008. Mr.&nbsp;Viola is one of the nation's
foremost leaders in electronic trading. He was the founder of Virtu East in 2008, a founder of Madison Tyler Holdings in 2002 and the former Chairman of the NYMEX. Mr.&nbsp;Viola started his career
in the financial services industry on the floor of the NYMEX and became Vice Chairman from 1993 to 1996 and Chairman from 2001 to 2004. Mr.&nbsp;Viola graduated from the U.S. Military Academy at
West Point in 1977. He later graduated from the U.S. Army Airborne, Infantry and Ranger Schools and served in the 101st&nbsp;Airborne Division. In 1983, he graduated from the New York Law School.
Mr.&nbsp;Viola's extensive business experience in the financial services industry provides the board of directors with valuable knowledge and experience in the electronic trading and market making
business. In addition, as our founder, Mr.&nbsp;Viola has successfully led Virtu since its inception and provides the board of directors with valuable insight regarding strategic decisions and the
future direction of our Company. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B><I>Douglas A. Cifu</I></B></FONT><FONT SIZE=2> has been our Chief Executive Officer and a member of the board of directors of Virtu Financial,&nbsp;Inc. since
November 2013. He previously served as Virtu Financial's President and Chief Operating Officer and has served on its board of directors since co-founding the firm in April 2008. Prior to co-founding
Virtu, Mr.&nbsp;Cifu was a partner at the international law firm of Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison&nbsp;LLP, where he practiced corporate law from 1990 to 2008. Mr.&nbsp;Cifu
also serves on the board of directors of Independent Bank Group,&nbsp;Inc., a regional bank holding company. Mr.&nbsp;Cifu completed his J.D. at Columbia Law School in 1990 and received his B.A.
from Columbia University in 1987, from which he graduated magna cum laude. Mr.&nbsp;Cifu's experience as a corporate attorney provides us with valuable insight regarding acquisitions, debt
financings, equity financings and public markets. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B><I>Joseph Molluso</I></B></FONT><FONT SIZE=2> has been our Executive Vice President and Chief Financial Officer since November 2013. Prior to joining Virtu,
Mr.&nbsp;Molluso was a Managing Director in Investment Banking at J.P. Morgan from March 2006 to November 2013, where he provided strategic advice to financial institutions with a focus on market
structure related companies. Mr.&nbsp;Molluso started his career as an investment banker specializing in financial services companies in 1997 at Donaldson, Lufkin&nbsp;&amp; Jenrette and its
successor, Credit Suisse, where he helped establish the global financial technology group. Mr.&nbsp;Molluso received his M.B.A. from New York University in 1997 and his B.B.A. from Pace University
in 1991. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>121</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=126,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=989547,FOLIO='121',FILE='DISK108:[13ZDI1.13ZDI16701]DQ16701A.;94',USER='AGAETZ',CD='23-MAR-2015;11:17' -->
<A NAME="page_dq16701_1_122"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B><I>Venu Palaparthi </I></B></FONT><FONT SIZE=2>has been our Senior Vice President for Compliance, Regulatory and Government Affairs since December&nbsp;2014.
Mr.&nbsp;Palaparthi also serves as Chief Executive Officer of our two registered broker dealers. Between&nbsp;2011 and&nbsp;2014, Mr.&nbsp;Palaparthi served as an officer at Nasdaq in the
Global Trading and Market Services division. While at Nasdaq, he was CEO of Nasdaq's broker-dealer subsidiaries&nbsp;&#151;&nbsp;Nasdaq Execution Services&nbsp;LLC, Execution
Access&nbsp;LLC and NPM Securities&nbsp;LLC. Mr.&nbsp;Palaparthi was responsible for regulatory compliance for Transaction Services U.S. and led various market structure and post-execution
initiatives for Nasdaq's U.S. marketplaces. Prior to Nasdaq, Mr.&nbsp;Palaparthi was Chief Compliance Officer of Instinet&nbsp;LLC between&nbsp;2008 and&nbsp;2011. From&nbsp;2000
to&nbsp;2008, Mr.&nbsp;Palaparthi worked in a variety of functions at Instinet including Head of Business Audit and Technology Compliance Officer. Mr.&nbsp;Palaparthi started his career as an
analyst at Reuters in&nbsp;1994. Mr.&nbsp;Palaparthi received his MBA from The University of Texas at Arlington in&nbsp;1994. He earned a dual degree&nbsp;&#151;&nbsp;BE (Honors) in
Computer Science and M.Sc. (Honors) in Economics&#151;from Birla Institute of Technology and Science in Pilani, India. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B><I>General John Philip Abizaid (Ret.)</I></B></FONT><FONT SIZE=2> became a member of the board of directors of Virtu Financial, Inc.
in&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and has been a
member of Virtu Financial's board of directors since July 2011. Since 2007, Gen. Abizaid has served as an international business and leadership consultant. Gen. Abizaid retired from the U.S. Army in
2007 after 34&nbsp;years of service, during which time he rose from an infantry platoon leader to become a four-star general and the longest-serving commander of U.S. Central Command. During his
distinguished career, his command assignments ranged from infantry combat to delicate international negotiations. Gen. Abizaid serves as the Distinguished Chair of the Combating Terrorism Center at
West Point. He is a member of the Council on Foreign Relations and the International Institute for Strategic Studies, and serves as a Director of the George Olmsted Foundation. In addition to serving
on our board, Gen. Abizaid serves on the board of directors for USAA, RPM,&nbsp;Inc., Vast Exploration&nbsp;Inc. and the Defense Venture Group. Gen. Abizaid's extensive international, military and
governmental experience and previous service on the boards of other companies adds significant value to the board of directors and to our Company. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B><I>Michael Bingle</I></B></FONT><FONT SIZE=2> became a member of the board of directors of Virtu Financial, Inc.
in&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and has been a member of Virtu
Financial's board of directors since July 2011. Mr.&nbsp;Bingle is a managing partner and managing director for Silver Lake Partners. Prior to joining Silver Lake in 2000, Mr.&nbsp;Bingle was a
principal at Apollo Management,&nbsp;L.P., then a large-scale and diversified private equity firm. Prior to Apollo, he worked as an investment banker in the Leveraged Finance Group of Goldman,
Sachs&nbsp;&amp;&nbsp;Co. In addition to serving on our board of directors, Mr.&nbsp;Bingle serves on the board of directors of Gartner,&nbsp;Inc., Gerson Lehrman Group,&nbsp;Inc. and
Interactive Data Corporation, and is on the Annual Fund Executive Committee of Duke University's School of Engineering. He is also a member of the Council on Foreign Relations. Previously
Mr.&nbsp;Bingle was a director of Ameritrade Holding Corp., Datek Online Holdings,&nbsp;Inc., Mercury Payment Systems,&nbsp;LLC, Instinet,&nbsp;Inc. and IPC Systems,&nbsp;Inc.
Mr.&nbsp;Bingle holds a B.S.E. in Biomedical Engineering from Duke University. Mr.&nbsp;Bingle's extensive experience in private equity, technology investing, large-scale mergers and acquisitions
and his previous service on the boards of other companies adds significant value to the board of directors. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B><I>William F. Cruger, Jr.</I></B></FONT><FONT SIZE=2> became a member of the board of directors of Virtu Financial,&nbsp;Inc.
in&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;. He was most recently
Vice Chairman of Investment Banking at J.P. Morgan and&nbsp;Co. where he was responsible for key client relationships on a global basis. Previously Mr.&nbsp;Cruger held a number of senior
positions at J.P. Morgan, including Managing Director in the Financial Institutions group from 1996 to 2011. During this time he also oversaw the rationalization of the firm's private equity
investments in trading platforms and related ventures at Lab Morgan from 2000-2001. Prior to this, Mr.&nbsp;Cruger ran the firm's investment banking practices in Japan from 1991-1996, Latin America
from 1989-1991 and Emerging Asia from 1984-1988. Mr.&nbsp;Cruger currently serves on the board of MarketAxess Holdings&nbsp;Inc. and People's United Financial,&nbsp;Inc., and has </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>122</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=127,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=435990,FOLIO='122',FILE='DISK108:[13ZDI1.13ZDI16701]DQ16701A.;94',USER='AGAETZ',CD='23-MAR-2015;11:17' -->
<A NAME="page_dq16701_1_123"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>


previously served on the boards of Archipelago Holdings,&nbsp;Inc., CreditTrade,&nbsp;Inc. and Capital IQ,&nbsp;Inc. He has an M.B.A. from Columbia University and a B.A. from Clark University.
Mr.&nbsp;Cruger's extensive experience in financial markets and financial leadership adds significant value to the board of directors.

 </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B><I>Joseph Osnoss</I></B></FONT><FONT SIZE=2> became a member of the board of directors of Virtu Financial, Inc.
in&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and has been a member of Virtu
Financial's board of directors since July 2011. Mr.&nbsp;Osnoss is a managing director of Silver Lake, which he joined in 2002. From 2010 to 2014, before returning to the U.S., he was based in
Silver Lake's London office, where he helped oversee the firm's activities in Europe, the Middle East, and Africa. Mr.&nbsp;Osnoss is a director of Global Blue&nbsp;S.A., Interactive Data
Corporation and Sabre Corporation, and previously served on the boards of Mercury Payment Systems,&nbsp;LLC and Instinet Incorporated. Prior to joining Silver Lake, Mr.&nbsp;Osnoss worked in
investment banking at Goldman, Sachs&nbsp;&amp;&nbsp;Co., where he focused on mergers and financings in technology and related industries. Mr.&nbsp;Osnoss graduated summa cum laude from Harvard
College with an A.B. in Applied Mathematics-Economics and a citation in French language. He is a Visiting Professor at the London School of Economics, where he participates in teaching and research
activities within the Department of Finance. Mr.&nbsp;Osnoss' extensive experience investing in private equity and serving on the boards of other companies, both domestically and internationally,
positions him to contribute meaningfully to our board of directors. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B><I>John F. (Jack) Sandner</I></B></FONT><FONT SIZE=2> became a member of the board of directors of Virtu Financial, Inc.
in&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and has been a member of
Virtu Financial's board of directors since November 2011. Mr.&nbsp;Sandner has served as a member of the board of directors of CME Group&nbsp;Inc. since 1978 and a member of CME for more than
30&nbsp;years. He also served as Special Policy Advisor from 1998 to 2005. Previously, he served as Chairman of the board of CME Group&nbsp;Inc. for 13&nbsp;years. Mr.&nbsp;Sandner has served
as Chairman of E*Trade Futures,&nbsp;LLC since 2003. Mr.&nbsp;Sandner previously served as President and CEO of RB&amp;H Financial Services,&nbsp;L.P., a futures commission merchant and clearing
firm, from 1985 to
2003. RB&amp;H Financial Services,&nbsp;L.P. is now a division of MF Global. Mr.&nbsp;Sandner serves as a consultant to RB&amp;H Financial Services,&nbsp;L.P. Mr.&nbsp;Sandner currently serves on the
board of the NFA and serves as one of our board representatives on the Dubai Mercantile Exchange. Mr.&nbsp;Sandner currently serves on the board of CME Group&nbsp;Inc. and Echo Global
Logistics,&nbsp;Inc. and previously served on the board of Click Commerce&nbsp;Inc. Mr.&nbsp;Sandner's extensive business experience in the electronic market making business and his previous
service on the boards of other public companies adds significant value to the board of directors. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Controlled Company  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have applied to list the shares of Class&nbsp;A common stock offered in this offering on NASDAQ. As the Founder Post-IPO Member
will continue to control more than 50% of our combined voting power upon the completion of this offering, we will be considered a "controlled company" for the purposes of NASDAQ rules and corporate
governance standards. As a "controlled company," we will be permitted to, and we intend to, elect not to comply with certain NASDAQ corporate governance requirements, including those that would
otherwise require our board of directors to have a majority of independent directors and require that we either establish a Compensation and Nominating and Corporate Governance Committees, each
comprised entirely of independent directors, or otherwise ensure that the compensation of our executive officers and nominees for directors are determined or recommended to the board of directors by
the independent members of the board of directors. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Director Independence  </B></FONT></P>


<P style="font-family:arial;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The board of directors has determined that Messrs.&nbsp;Bingle, Cruger, Osnoss and Sandner are each "independent directors" as such
term is defined by the applicable rules and regulations of NASDAQ.

 </FONT>

</P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>123</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=128,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=1000516,FOLIO='123',FILE='DISK108:[13ZDI1.13ZDI16701]DQ16701A.;94',USER='AGAETZ',CD='23-MAR-2015;11:17' -->
<A NAME="page_dq16701_1_124"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Board Structure  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Composition  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the consummation of the offering, our board of directors will consist of eight directors. In accordance with our amended and
restated certificate of incorporation and by-laws, the number of directors on our board of directors will be determined from time to time by the board of directors but shall not be less than three
persons nor more than 20 persons. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
director is to hold office until his or her successor is duly elected and qualified or until his or her earlier death, resignation or removal. Vacancies and newly created
directorships on the board of directors may be filled at any time by the remaining directors. In addition, at any point prior to the occurrence of the Triggering Event (defined as the time at which
the Founder Post-IPO Member or any of its affiliates or permitted transferees no longer beneficially own shares representing 25% of our issued and outstanding common stock), vacancies on the board of
directors may also be filled by the affirmative vote of a majority of our outstanding shares of common stock. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the Stockholders Agreement that we will enter into with the Founder Post-IPO Member and the Silver Lake Equityholders, the Silver Lake Equityholders will be entitled to
nominate one Class&nbsp;III director for election to our board of directors so long as affiliates of Silver Lake Partners continue to own at least 30% of the Class&nbsp;A common stock held by
affiliates of Silver Lake Partners immediately prior to this offering (calculated assuming that all of their Virtu Financial Units and corresponding shares of Class&nbsp;C common stock are exchanged
for Class&nbsp;A common stock). The Founder Post-IPO Member will agree to vote its shares in favor of the director nominated by the Silver Lake Equityholders in accordance with the terms of the
Stockholders Agreement. To the extent that the Silver Lake Equityholders are no longer entitled to nominate a board member pursuant to the Stockholders Agreement, they shall, if requested by our board
of directors, cause their nominee to resign, and our board of directors, upon the recommendation of the Nominating and Corporate Governance Committee, will nominate a director to fill such vacancy.
See "Principal Stockholders" and "Certain Relationships and Related Party Transactions&nbsp;&#151; Stockholders Agreement" for additional information. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Until
the Triggering Event, any director may be removed with or without cause by the affirmative vote of a majority of our outstanding shares of common stock. Thereafter, directors may
be removed only for cause by the affirmative vote of at least 75% of our outstanding shares of common stock. At any meeting of the board of directors, except as otherwise required by law, a majority
of the total number of directors then in office will constitute a quorum for all purposes. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our amended and restated certificate of incorporation will provide that the board of directors will be divided into three classes of directors, with staggered three-year terms, with the
classes to be as nearly equal in number as possible. As a result, approximately one-third of the board of directors will be elected each year. The classification of directors has the effect of making
it more difficult for stockholders to change the composition of the board of directors. In connection with this offering, Messrs.&nbsp;Cruger, Osnoss and Viola will be designated as Class&nbsp;I
directors, Messrs.&nbsp;Cifu and Sandner will be designated as Class&nbsp;II directors and Messrs.&nbsp;Abizaid and Bingle will be designated as Class&nbsp;III directors.

 </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Committees of the Board  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the consummation of this offering, our board of directors will have three standing committees: an Audit Committee, a Compensation
Committee and a Nominating and Corporate Governance Committee. Under the rules of NASDAQ, the membership of the Audit Committee is required to consist entirely of independent directors, subject to
applicable phase-in periods. As a controlled company, we are not required to have fully independent Compensation and Nominating and Corporate Governance Committees. The following is a brief
description of our committees. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>124</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=129,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=490497,FOLIO='124',FILE='DISK108:[13ZDI1.13ZDI16701]DQ16701A.;94',USER='AGAETZ',CD='23-MAR-2015;11:17' -->
<A NAME="page_dq16701_1_125"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> Audit  </I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Audit Committee assists the board in monitoring the audit of our financial statements, our independent auditors' qualifications
and independence, the performance of our audit function and independent auditors and our compliance with legal and regulatory requirements. The Audit Committee has direct responsibility for the
appointment, compensation, retention (including termination) and oversight of our independent auditors, and our independent auditors report directly to the Audit Committee. The Audit Committee will
also review and approve related party transactions as required by the rules of NASDAQ. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the completion of this offering, Messrs.&nbsp;Cruger, Osnoss and Sandner are expected to be the members of our Audit Committee. The board of directors has determined that
Mr.&nbsp;Cruger qualifies as an
"audit committee financial expert" as such term is defined under the rules of the SEC implementing Section&nbsp;407 of the Sarbanes-Oxley Act of 2002 and that each of Messrs.&nbsp;Cruger
and&nbsp;Sandner are "independent" for purposes of Rule&nbsp;10A-3 of the Exchange Act and under the listing standards of NASDAQ. In addition, the board of directors has determined that
Mr.&nbsp;Osnoss is not "independent" for purposes of serving on an audit committee under Rule&nbsp;10A-3 of the Exchange Act and under the listing standards of NASDAQ because his relationship with
Silver Lake Partners may cause him to be deemed our "affiliate." Accordingly, we are relying on the phase-in provisions of Rule&nbsp;10A-3 of the Exchange Act and the NASDAQ transition rules
applicable to companies completing an initial public offering, and we plan to have an audit committee comprised solely of independent directors that are independent for purposes of serving on an audit
committee within one year of our listing. We believe that the functioning of our audit committee complies with the applicable requirements of the SEC and NASDAQ.

 </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> Compensation  </I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Compensation Committee reviews and recommends policies relating to compensation and benefits of our directors and employees and is
responsible for approving the compensation of our Chief Executive Officer and other executive officers. Our Compensation Committee will also administer the issuance of awards under our 2015 Management
Incentive Plan. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the completion of this offering, Messrs.&nbsp;Abizaid, Bingle and Sandner are expected to be the members of our Compensation Committee. Because we will be a "controlled company"
under the rules of NASDAQ, our Compensation Committee is not required to be fully independent, although if such rules change in the future or we no longer meet the definition of a controlled company
under the current rules, we will adjust the composition of the Compensation Committee accordingly in order to comply with such rules.


</FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> Nominating and Corporate Governance  </I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Nominating and Corporate Governance Committee selects or recommends that the board of directors select candidates for election to
our board of directors, develops and recommends to the board of directors corporate governance guidelines that are applicable to us and oversees board of director and management evaluations. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the completion of this offering, Messrs.&nbsp;Abizaid and Viola are expected to be the members of our Nominating and Corporate Governance Committee. Because we will be a
"controlled company" under the rules of NASDAQ, our Nominating and Corporate Governance Committee is not required to be fully independent, although if such rules change in the future or we no longer
meet the
definition of a controlled company under the current rules, we will adjust the composition of the Nominating and Corporate Governance Committee accordingly in order to comply with such rules.

 </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>125</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=130,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=694421,FOLIO='125',FILE='DISK108:[13ZDI1.13ZDI16701]DQ16701A.;94',USER='AGAETZ',CD='23-MAR-2015;11:17' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_ds16701_1_126"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="ds16701_executive_compensation"> </A>
<A NAME="toc_ds16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  <A NAME="compensation"></A>EXECUTIVE COMPENSATION    <BR>    </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> Summary Compensation Table  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table shows the compensation earned by our principal executive officer for the fiscal year ended December&nbsp;31,
2014, our Founder and Executive Chairman and our two most highly compensated executive officers who were serving as executive officers as of December&nbsp;31, 2014, whom we refer to collectively as
our "named executive officers." </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
principal positions listed in the table refer to the positions of our named executive officers as of December&nbsp;31, 2014. </FONT></P>
 <DIV style="padding:0pt;position:relative;width:62%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"130%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="130%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="26pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="54pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="45pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="54pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="74pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="54pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:110pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Name and Principal Position

<!-- COMMAND=ADD_SCROPPEDRULE,110pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Year </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Salary </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Bonus </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Equity Awards </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>All Other<BR>
Compensation </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Total(1) </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR bgcolor="#CCEEFF" VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">



<!-- COMMAND=ADD_ROWSHADECOLOR,"#CCEEFF" -->


 Vincent Viola</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">2014</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR bgcolor="#CCEEFF" VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-0pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><I>


<!-- COMMAND=ADD_ROWSHADECOLOR,"#CCEEFF" -->


 Founder and Executive Chairman</I></FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">2013</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:arial;"><p style="font-family:arial;margin-top:10pt;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Douglas A. Cifu(2)</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><BR>
2014</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><BR>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><BR>
1,000,000</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><BR>
&#151;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><BR>
&#151;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><BR>
&#151;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><BR>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><BR>
1,000,000</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-0pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><I>Chief Executive Officer</I></FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">2013</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,000,000</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,000,000</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR bgcolor="#CCEEFF" VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:arial;"><p style="font-family:arial;margin-top:10pt;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">


<!-- COMMAND=ADD_ROWSHADECOLOR,"#CCEEFF" -->


 Joseph Molluso</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><BR>
2014</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><BR>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><BR>
500,000</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><BR>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><BR>
400,000</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><BR>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><BR>
289,634</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><BR>(3)</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><BR>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><BR>
&#151;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><BR>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><BR>
1,189,634</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR bgcolor="#CCEEFF" VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-0pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><I>


<!-- COMMAND=ADD_ROWSHADECOLOR,"#CCEEFF" -->


 Executive Vice President and Chief Financial Officer</I></FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">2013</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">76,293</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">975,000</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(4)</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">3,209,919</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(5)</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">4,261,212</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Venu Palaparthi(7)</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">2014</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">17,307</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">600,000</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(6)</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">482,723</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(8)</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,100,030</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-0pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><I>Senior Vice President, Compliance, Regulatory and Government Affairs</I></FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->


<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" >
 </DIV>
<DIV style="padding:0pt;position:relative;text-align:left;margin-left:10%;">
 <DL compact>
<DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(1)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">All
amounts set forth in this table were paid by Virtu Financial. The Company has not paid or provided the named executive officers with any compensation
prior to this offering.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(2)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">Mr.&nbsp;Cifu
will become Virtu Financial's Chief Executive Officer upon the completion of this offering.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(3)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">This
amount represents the grant date fair value calculated in accordance with FASB ASC Topic 718 with respect to the grant of fully vested Class&nbsp;A-2
profits interests in Virtu Employee Holdco granted on December&nbsp;31, 2014. Assumptions used in calculating this amount are described in Note&nbsp;15 of the Company's audited financial
statements for the fiscal year ended December&nbsp;31, 2014.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(4)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">This
amount represents a one-time starting bonus of $600,000 and a year-end cash bonus of $375,000.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(5)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">This
amount represents the grant date fair value calculated in accordance with FASB ASC Topic 718 with respect to (i)&nbsp;the grant of Class&nbsp;A-2
profits interests in Virtu Employee Holdco granted on November&nbsp;4, 2013, which vest on each of the first four anniversaries of the date of grant, and (ii)&nbsp;the grant of fully vested
Class&nbsp;A-2 profits interests in Virtu Employee Holdco granted on December&nbsp;31, 2013. Assumptions used in calculating this amount are described in Note&nbsp;15 of the Company's audited
financial statements for the fiscal year ended December&nbsp;31, 2014.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(6)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">This
amount represents a one-time starting bonus of $200,000 and a year-end cash bonus of $400,000.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(7)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">Mr.&nbsp;Palaparthi
became our Senior Vice President for Compliance, Regulatory and Government Affairs on December&nbsp;1, 2014.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(8)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">This
amount represents the grant date fair value calculated in accordance with FASB ASC Topic 718 with respect to the grant of Class&nbsp;A-2 profits
interests in Virtu Employee Holdco granted on December&nbsp;8, 2014, which vest on each of the first three anniversaries of the date of grant. Assumptions used in calculating this amount are
described in Note&nbsp;15 of the Company's audited financial statements for the fiscal year ended December&nbsp;31, 2014. </FONT></DD></DL>
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Since our inception, Mr.&nbsp;Viola has not received any salary, bonus or other cash or equity compensation, and Mr.&nbsp;Cifu has not
received any cash bonus compensation. Each of Messrs.&nbsp;Cifu, Molluso and Palaparthi and affiliates of Mr.&nbsp;Viola have received, and will continue to receive, distributions in respect of
their direct and indirect equity holdings in Virtu Financial. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Employment Agreements and Restrictive Covenant Agreements  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with this offering, we intend to enter into employment agreements with Messrs.&nbsp;Viola and Cifu that will provide
for the grant of equity compensation in us as compensation for the services they will provide to us. All of our named executive officers will be subject to the non-compete and non-solicitation
provisions to be included in the Amended and Restated Virtu </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>126</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=131,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=752917,FOLIO='126',FILE='DISK108:[13ZDI1.13ZDI16701]DS16701A.;130',USER='MTITUSS',CD='23-MAR-2015;13:11' -->
<A NAME="page_ds16701_1_127"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>Financial&nbsp;LLC
Agreement discussed under "Certain Relationship and Related Party Transactions&nbsp;&#151; Amended and Restated Virtu Financial Limited Liability Company Agreement." </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><I> New Employment Agreement with Messrs.&nbsp;Viola and Cifu  </I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The employment agreements to be entered into with Messrs.&nbsp;Viola and Cifu will be effective as of the day prior to the pricing
date of this offering, and have an initial term of three years with automatic renewals for successive one-year terms thereafter unless either we or the executive provides notice of non-renewal at
least ninety days in advance of the expiration of the then-current term. However, if a change in control of the Company occurs at a time when there are less than two years remaining in the term, the
term will automatically be extended so that the expiration date is two years from the effective date of the change in control. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
employment agreement with Mr.&nbsp;Viola will provide that he will serve as our Executive Chairman, and the employment agreement with Mr.&nbsp;Cifu will provide that he will
serve as our Chief Executive Officer. Messrs.&nbsp;Viola and Cifu will report to our board of directors. During the term, their principal place of employment will be in our principal office in
Manhattan, New York. Each of their employment agreements will further provide that to the extent such activities do not significantly interfere with the performance of his duties, service and
responsibilities, each of Messrs.&nbsp;Viola and Cifu will be permitted to manage his personal, financial and legal affairs, serve on civic or charitable boards and committees and, to the extent
approved by our board of directors, serve on corporate boards and committees; provided that (1)&nbsp;Mr.&nbsp;Viola will be permitted to continue to be engaged in, or provide services to, certain
specified businesses and activities, and to become engaged in, or provide services to, any other business or activity, to the extent that he reasonably believes that such business or activity is not
appropriate for us to pursue; and (2)&nbsp;Mr.&nbsp;Cifu will be permitted to
continue to be engaged in, or provide services to, certain specified businesses and activities (including but not necessarily limited to his role as the Vice Chairman and Alternate Governor of the
Florida Panthers, a National Hockey League franchise, and his role as a director of the Independent Bank Group,&nbsp;Inc., a regional bank holding company), and, to the extent such activities do not
significantly interfere with the performance of his duties, service and responsibilities, to become engaged in, or provide services to, any other business or activity in which Mr.&nbsp;Viola is
permitted to become engaged in, to the extent that Mr.&nbsp;Cifu's level of participation in such businesses or activities are consistent with his participation in the aforementioned specified
businesses or activities prior to the effective date of the employment agreement. Notwithstanding the above, Messrs.&nbsp;Viola and Cifu will be subject to non-compete obligations until the third
anniversary of the date on which such person ceases to be an officer, director or employee of ours. See "Certain Relationships and Related Party Transactions&nbsp;&#151; Amended and Restated
Virtu Financial Limited Liability Company Agreement." </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
employment agreements will provide for a base salary of $1 for Mr.&nbsp;Viola and $1,000,000 for Mr.&nbsp;Cifu, and will provide each executive with the opportunity to earn a
discretionary annual bonus based on such business objectives and/or business performance as determined by the non-employee members of our board of directors or our compensation committee in their or
its sole discretion. The employment agreements with Messrs.&nbsp;Viola and Cifu will provide for a grant of stock options with respect to shares of our Class&nbsp;A common stock. These stock
options will have an exercise price equal to the fair market value of a share of Class&nbsp;A common stock on the date of grant. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
employment agreements will provide that Messrs.&nbsp;Viola and Cifu will be entitled to participate in all of our benefit plans and programs, and to receive perquisites,
commensurate with their respective positions, that are provided by us from time to time for our senior executives generally, and to receive director and officer indemnification and insurance
protection. If Mr.&nbsp;Viola elects to seek reimbursement for the use of his privately owned aircraft for business purposes, he will be reimbursed at the then-prevailing charter rates for his
aircraft. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>127</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=132,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=561666,FOLIO='127',FILE='DISK108:[13ZDI1.13ZDI16701]DS16701A.;130',USER='MTITUSS',CD='23-MAR-2015;13:11' -->
<A NAME="page_ds16701_1_128"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
employment agreements include an acknowledgment from Messrs.&nbsp;Viola and Cifu that they will be bound by the confidentiality and restrictive covenant provisions set forth in
the Amended and Restated Virtu Financial LLC Agreement, which provisions are incorporated by reference into their stock option agreements. The employment agreements also provide that we will pay as
incurred, to the fullest extent permitted by law, all legal fees and expenses that Mr.&nbsp;Viola or Mr.&nbsp;Cifu incur as a result of any contest (regardless of the outcome) by us, the executive
or others of the validity or enforceability of, or liability under, any provision of their employment agreement or any guarantee of performance of their employment agreement that arises in connection
with or following a change in control, plus interest on any delayed payment at the applicable federal rate under Section&nbsp;7872 of the Code. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
employment agreements for Messrs.&nbsp;Viola and Cifu provide for severance upon certain terminations of employment as described below under "Potential Payments Upon Termination
of Employment or Change in Control." </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><I> Existing Employment Agreement with Mr.&nbsp;Molluso  </I></FONT></P>

<P style="font-family:arial;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu East entered into an employment agreement with Mr.&nbsp;Molluso on August&nbsp;7, 2013 on an "at will" employment basis. The
employment agreement provides for a salary of $500,000 per year and a starting bonus of $600,000 (which must be repaid upon a termination for "cause" or certain violations of his restrictive
covenants). In addition, the employment agreement provides for eligibility to earn an annual cash bonus, as determined at the sole discretion of Virtu East; provided that, for the years ending
December&nbsp;31, 2013 and December&nbsp;31, 2014, Mr.&nbsp;Molluso is guaranteed a minimum bonus of $750,000 and $1,000,000, respectively. The employment agreement also provides for a grant of
Class&nbsp;A-2 profits interests in Virtu Employee Holdco with the number of Class A-2 profits interests to be granted determined by dividing $6,000,000 by the most recent valuation of a Class A-2
capital interest of Virtu Financial. Mr.&nbsp;Molluso is eligible to participate in all benefit programs of Virtu East available to similarly situated employees.

 </FONT>

</P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
connection with his employment agreement, Mr.&nbsp;Molluso entered into a restrictive covenant agreement which provides that he will not engage in any business that competes with
Virtu or its affiliates, and he will not solicit or hire employees, consultants or members of Virtu East, its subsidiaries or its affiliates during his employment and for a period of three years
thereafter. He is also subject to confidentiality and non-disparagement restrictions. The employment agreement provides for severance upon certain terminations of employment as described below under
"Potential Payments Upon Termination of Employment or Change in Control." </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> Existing Employment Agreement with Mr.&nbsp;Palaparthi  </I></FONT></P>

<P style="font-family:arial;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu East entered into an employment agreement with Mr.&nbsp;Palaparthi on October&nbsp;29, 2014 on an "at will" employment
basis. The employment agreement provides for a salary of $300,000 per year and a starting bonus of $200,000 (which must be repaid upon a termination for "cause," certain violations of his restrictive
covenants or his voluntary termination on or prior to December&nbsp;1, 2015). In addition, the employment agreement provides for eligibility to earn an annual cash bonus, as determined at the sole
discretion of Virtu East; provided that, for the years ending December&nbsp;31, 2014 and December&nbsp;31, 2015, Mr.&nbsp;Palaparthi is guaranteed a minimum bonus of $400,000 and $350,000,
respectively. The employment agreement also provides for a grant of Class&nbsp;A-2 profits interests in Virtu Employee Holdco with the number of Class A-2 profits interests to be granted determined
by dividing $1,000,000 by the most recent valuation of a Class
A-2 capital interest of Virtu Financial. Mr.&nbsp;Palaparthi is eligible to participate in all benefit programs of Virtu East available to similarly situated employees.


</FONT>

</P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
connection with his employment agreement, Mr.&nbsp;Palaparthi entered into a restrictive covenant agreement which provides that for a period of 12&nbsp;months or, if longer, the
period during which Mr.&nbsp;Palaparthi receives severance payments from Virtu or any of its affiliates (the "Restrictive </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>128</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=133,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=11781,FOLIO='128',FILE='DISK108:[13ZDI1.13ZDI16701]DS16701A.;130',USER='MTITUSS',CD='23-MAR-2015;13:11' -->
<A NAME="page_ds16701_1_129"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>Covenant
Period"), he will not be employed by, engage in any business, or own any interest in any person or entity that (i)&nbsp;is a past, current or prospective client of, (ii)&nbsp;is an
investor in or (iii)&nbsp;competes with, Virtu or its affiliates. In addition, during the Restrictive Covenant Period, Mr.&nbsp;Palaparthi may not solicit or encourage any current or prospective
employee, consultant, agent, client or vendor of Virtu or its affiliates to terminate its relationship with Virtu or its affiliates or enter into any other business or employment relationship with any
other person, and may not solicit or accept funds from any actual or prospective client, shareholder or investor in Virtu or its affiliates. He is also subject to confidentiality and non-disparagement
restrictions. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Outstanding Equity Awards at Fiscal Year End  </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following tables provide information about the outstanding equity awards held by our named executive officers as of
December&nbsp;31, 2014. Mr.&nbsp;Viola does not hold any outstanding equity awards. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> Class&nbsp;B Interests  </I></FONT></P>
 <DIV style="padding:0pt;position:relative;width:73%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"110%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="110%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="74pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="112pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="129pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Name

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Grant Date </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Unvested Class&nbsp;B<BR>
Interest Percentage(1) </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Market Value of Unvested<BR>
Class&nbsp;B Interests(2) </B></FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Douglas A. Cifu</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>July&nbsp;8, 2011</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>0.50%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$4,729,664</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->


<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" >
 </DIV>
<DIV style="padding:0pt;position:relative;text-align:left;margin-left:10%;">
 <DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>As
of December&nbsp;31, 2014, the unvested Class&nbsp;B interests were scheduled to vest in equal installments on each of the first four anniversaries
of the grant date, subject to (i)&nbsp;continued employment on each annual vesting date and (ii)&nbsp;the consummation of a sale transaction meeting specified criteria or an initial public
offering.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>There
was no public market for the Class&nbsp;B interests as of December&nbsp;31, 2014, and thus the market value reflected in the table above is based
on the total fair market value after marketability discounts of 4% of the capital proceeds attributable to all such Class&nbsp;B interests having a threshold of $1.046&nbsp;billion as of such
date. The marketability discount was determined using a formulaic approach by applying a methodology that determines the marketability discount based on the value of an "average-strike" (or "Asian")
put option. </FONT></DD></DL>
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
connection with the Madison Tyler Transactions, on July&nbsp;8, 2011, Mr.&nbsp;Cifu was awarded equity-based interests in Virtu Financial, which allow him to share in the future
appreciation of Virtu Financial, subject to two vesting conditions: time-based vesting (based on continued employment) and transaction-based vesting (based on the occurrence of certain corporate
events), as described in more detail below. These equity-based interests are designed to provide an opportunity for long-term incentive compensation in order to motivate Mr.&nbsp;Cifu and reward him
for growth in our equity value. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
equity interests were granted pursuant to the Existing Equity Incentive Plan in the form of profits interests, called Class&nbsp;B interests. Each Class&nbsp;B interest
represents an equity interest in Virtu Financial that, in a sale or other specified capital transaction, entitles the holder to a percentage of the profits and appreciation in the equity value of
Virtu Financial arising after the date of grant. Mr.&nbsp;Cifu's awarded Class&nbsp;B interests represent 0.5% of such profits and appreciation in equity value. The awards were structured so that
if Virtu Financial's equity value were to appreciate, Mr.&nbsp;Cifu would share in a specified percentage of the profits and equity value appreciation from the date of grant solely with respect to
the vested portion of the executive's Class&nbsp;B interests. If Virtu Financial's equity value had not appreciated in value or decreased in value after the date of grant, then the Class&nbsp;B
interests would have no value. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These
awards also provide a retention tool because the Class&nbsp;B interests vest over a four-year period, subject to Mr.&nbsp;Cifu's continued employment on each annual vesting
date. Further, to incentivize Mr.&nbsp;Cifu to work towards certain corporate objectives, the Class&nbsp;B interests vest only if </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>129</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=134,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=416535,FOLIO='129',FILE='DISK108:[13ZDI1.13ZDI16701]DS16701A.;130',USER='MTITUSS',CD='23-MAR-2015;13:11' -->
<A NAME="page_ds16701_1_130"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>Virtu
Financial consummates a sale transaction meeting specified criteria or an initial public offering. In addition, by accepting an award of Class&nbsp;B interests, the Existing Equity Incentive
Plan imposes non-competition and non-solicitation restrictions on the named executive officer so that his Class&nbsp;B interests are subject to forfeiture if he violates those restrictions. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> Class&nbsp;A-2 Profits Interests  </I></FONT></P>
 <DIV style="padding:0pt;position:relative;width:67%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"120%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="120%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="119pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="100pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="129pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Name

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Grant Date </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Unvested Class&nbsp;A-2<BR>
Profits Interests </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Market Value of Unvested<BR>
Class&nbsp;A-2 Profits Interests(3) </B></FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Joseph Molluso</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>November&nbsp;4, 2013</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>308,954</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(1)</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$2,359,031</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Venu Palaparthi</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>December 8, 2014</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>64,181</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(2)</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$482,492</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->


<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" >
 </DIV>
<DIV style="padding:0pt;position:relative;text-align:left;margin-left:10%;">
 <DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>As
of December&nbsp;31, 2014, Mr.&nbsp;Molluso's remaining Class&nbsp;A-2 profits interests were scheduled to vest in three equal installments on
November&nbsp;4, 2015, 2016 and 2017, subject to continued employment on each annual vesting date.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>As
of December&nbsp;31, 2014, Mr.&nbsp;Palaparthi's Class&nbsp;A-2 profits interests were 100% unvested and scheduled to vest in three equal
installments on December&nbsp;8, 2015, 2016 and 2017.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(3)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>There
was no public market for the Class&nbsp;A-2 profits interests as of December&nbsp;31, 2014, and thus the market value reflected in the table above
is based on the total fair market value after marketability discounts of 4% attributable to all Class&nbsp;A-2 profits interests having a threshold of $1.971&nbsp;billion for Mr.&nbsp;Molluso
with respect to his grants dated November&nbsp;4, 2013 and $2.031&nbsp;billion for Mr.&nbsp;Palaparthi as of December&nbsp;31, 2014. The marketability discount was determined using a formulaic
approach by applying a methodology that determines the marketability discount based on the value of an "average-strike" (or "Asian") put option. </FONT></DD></DL>
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Messrs.&nbsp;Molluso
and Palaparthi were awarded an equity-based interest in Virtu Employee Holdco (which in turn holds an interest in Virtu Financial) that allows them to share in
distributions and the future appreciation of Virtu Financial, subject to time-based vesting (based on continued employment) as described in more detail below. These equity-based interests are designed
to provide an opportunity for long-term incentive compensation in order to motivate Messrs. Molluso and Palaparthi and reward them for growth in our equity value. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
equity interests were granted pursuant to the Virtu Employee Holdco Limited Liability Company Agreement in the form of Class&nbsp;A-2 profits interests. Each Class&nbsp;A-2
profits interest of Virtu Employee Holdco corresponds to a Class&nbsp;A-2 profits interest in Virtu Financial and entitles the holder to a percentage of distributions of available cash flow and, in
connection with a sale or other specified capital transaction of Virtu Financial, a percentage of the proceeds of such sale or capital transaction, subject to satisfying certain valuation hurdles
determined by Virtu Financial at the time of the grant. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These
awards provide a retention tool because the Class&nbsp;A-2 profits interests vest over a four-year period for Mr.&nbsp;Molluso and a three-year period for
Mr.&nbsp;Palaparthi, subject to the named executive officer's continued employment on each annual vesting date. In addition, by accepting an award of Class&nbsp;A-2 profits interests, the Virtu
Employee Holdco Limited Liability Company Agreement imposes non-competition and non-solicitation restrictions on the named executive officer so that his Class&nbsp;A-2 profits interests are subject
to forfeiture if he violates those restrictions. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior
to the consummation of this offering, all of Virtu Financial's outstanding Class&nbsp;B interests and Class&nbsp;A-2 profits interests will be reclassified into vested and
unvested Virtu Financial Units based on a hypothetical liquidation of Virtu Financial and the initial public offering price per share of our Class&nbsp;A common stock in this offering. In addition,
all of Virtu Employee Holdco's Class&nbsp;A-2 profits interests will be reclassified into common units of Virtu Employee Holdco. The unvested Virtu Financial Units shall vest following the offering
based on the current time-based vesting schedule of </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>130</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=135,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=443105,FOLIO='130',FILE='DISK108:[13ZDI1.13ZDI16701]DS16701A.;130',USER='MTITUSS',CD='23-MAR-2015;13:11' -->
<A NAME="page_ds16701_1_131"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>the
outstanding unvested Class&nbsp;B interests or Class&nbsp;A-2 profits interests from which they were reclassified. Upon termination of employment, all unvested Virtu Financial Units will be
forfeited and any vested Virtu Financial Units will be subject to repurchase by us. Both the vested and unvested Virtu Financial Units will be entitled to receive distributions, if any, from Virtu
Financial except that unvested Virtu Financial Units will no longer be entitled to any such distributions upon forfeiture. If any unvested Virtu Financial Units are forfeited, they will be cancelled
by Virtu Financial for no consideration (and we will cancel the related shares of Class&nbsp;C common stock described below for no consideration). The vesting and other terms applicable to such
Virtu Financial Units will be set forth in definitive documentation to be entered into immediately prior to the completion of this offering. In connection with the reorganization transactions and this
offering, members of management who receive Virtu Financial Units directly, and Virtu Employee Holdco on behalf of members of management who receive Virtu Financial Units indirectly, will also
subscribe for a number of shares of our Class&nbsp;C common stock equal to the number of Virtu Financial Units they receive. Each share of Class&nbsp;C common stock paired with a Virtu Financial
Unit will be vested or unvested to the same extent as the Virtu Financial Unit with which it is paired. There are no voting rights associated with the Virtu Financial Units, whether vested or
unvested, but each share of Class&nbsp;C common stock will carry one vote, including both vested and unvested shares of Class&nbsp;C common stock. Vested Virtu Financial Units (along with the
corresponding shares of our Class&nbsp;C common stock) may be exchanged for shares of Class&nbsp;A common stock on a one-for-one basis. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Potential Payments Upon Termination of Employment or Change in Control  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> Severance Benefits  </I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As of December&nbsp;31, 2014, Messrs. Viola, Cifu and Palaparthi were not entitled to any payments in connection with the
termination of their employment. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under
the new employment agreements for Messrs.&nbsp;Viola and Cifu to be entered into in connection with this offering, if Messrs.&nbsp;Viola's or Cifu's employment is terminated
by us without cause (as defined in the employment agreement), due to death or disability (as defined in the employment agreement), by the executive for good reason (as defined in the employment
agreement), or due to the expiration of the term on the expiration date as a result of our delivery of a notice of non-renewal of the term, then in addition to receiving their accrued amounts, each of
them will
receive, subject to the execution of a release of claims, severance pay in an aggregate amount (the "Severance Amount") equal to the greater of one times&nbsp;(1x) his base salary and an amount
equal to the total amount of base salary that would otherwise have been payable through the remainder of the term, and continued health, dental, vision and life insurance benefits under the terms of
our benefit plans for twelve months or the period from termination of employment through the remainder of the term, whichever is longer (the "Benefits Continuation Period"). However, if such
termination occurs at any time within sixty days before, or 24&nbsp;months following, a change in control, then in lieu of the Severance Amount the executive will be entitled to receive 2.5 times
the sum of (1)&nbsp;his base salary and (2)&nbsp;the annual bonus (including any amounts deferred or satisfied through the grant of equity awards) most recently awarded to the executive for a
completed fiscal year of the Company, and the Benefits Continuation Period will be extended to 24&nbsp;months or the period from termination of employment through the remainder of the term,
whichever is longer; and, in the case of Mr.&nbsp;Viola, the Company will reimburse him, for two years following termination of his employment, for his lease of first-class office space and salary
and benefit expenses for a secretarial or administrative assistant, consistent with those provided immediately prior to his termination of employment. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
any payments to Messrs.&nbsp;Viola or Cifu are determined to be so-called "golden parachute" payments subject to the excise tax under Section&nbsp;4999 of the Code, then such
payments will be reduced to the extent such reduction would result in the executive retaining a greater net after-tax </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>131</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=136,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=296683,FOLIO='131',FILE='DISK108:[13ZDI1.13ZDI16701]DS16701A.;130',USER='MTITUSS',CD='23-MAR-2015;13:11' -->
<A NAME="page_ds16701_1_132"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>amount
than he would have retained had he received the full amount of the payments and paid the applicable excise tax. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Joseph Molluso.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;If, prior to December&nbsp;31, 2014, Mr.&nbsp;Molluso is terminated by Virtu East without "cause" or resigns
at a time when
neither Mr.&nbsp;Viola nor Mr.&nbsp;Cifu are serving as chairman, chief executive officer or president of Virtu Financial or any successor entity (a "Viola and Cifu Exit"), Mr.&nbsp;Molluso is
entitled to severance in an aggregate amount not less than one year of base salary and any guaranteed bonus not yet paid as of the termination date, payable in cash in equal quarterly installments
over the period ending on the third anniversary of Mr.&nbsp;Molluso's termination. In addition, all of Mr.&nbsp;Molluso's outstanding unvested Class&nbsp;A-2 profits interests will become 100%
vested upon a termination without "cause" or upon a Viola and Cifu Exit. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Termination
of Mr.&nbsp;Molluso's employment for "cause" generally means his (i)&nbsp;gross negligence or willful misconduct in the performance of his duties; (ii)&nbsp;conviction
of, or plea of guilty or nolo contendere to, a felony; (iii)&nbsp;willful material breach of a material provision of his employment agreement; or (iv)&nbsp;fraud or misappropriation, embezzlement
of funds or property belonging to Virtu
East (or Virtu Financial, in the case of his Class&nbsp;A-2 profits interests), subject to up to a 15-day period to cure such breach or failure if susceptible to cure. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> Change in Control Benefits  </I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All of Mr.&nbsp;Molluso's outstanding unvested Class&nbsp;A-2 profits interests will become 100% vested upon a "change in
control." A change in control generally means (i)&nbsp;prior to an initial public offering of Virtu Financial or any of its subsidiaries or parents (the "IPO Entity"), Mr.&nbsp;Viola and certain
of his affiliates fail to own equity interests representing a majority of the "available cash flow percentage" (as defined in the Amended and Restated Virtu Financial&nbsp;LLC Agreement)
attributable to all issued and outstanding equity interests of Virtu Financial, and (ii)&nbsp;following an initial public offering, the acquisition of ownership by any person or group (other than
Mr.&nbsp;Viola, his affiliates, certain affiliates of Silver Lake Partners or any of their respective permitted transferees) of equity interests representing 40% or more of the aggregate ordinary
voting power of the IPO Entity, and the percentage of such aggregate ordinary voting power is greater than the aggregate voting power of Mr.&nbsp;Viola, his affiliates, certain affiliates of Silver
Lake Partners, certain affiliates (as defined in the Amended and Restated Virtu Financial LLC Agreement) of Temasek and their respective permitted transferees. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> Calculations of Benefits to Which Executive Would Be Entitled  </I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assuming each named executive officer's termination of employment occurred on December&nbsp;31, 2014 or a change in control occurred
on December&nbsp;31, 2014, the dollar value of the </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>132</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=7,SEQ=137,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=929967,FOLIO='132',FILE='DISK108:[13ZDI1.13ZDI16701]DS16701A.;130',USER='MTITUSS',CD='23-MAR-2015;13:11' -->
<A NAME="page_ds16701_1_133"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>payments
and other benefits to be provided to each of the named executive officers are estimated in the table below. </FONT></P>
 <DIV style="padding:0pt;position:relative;width:67%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"120%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="120%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="75pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="87pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="87pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="67pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:95pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Named Executive Officer

<!-- COMMAND=ADD_SCROPPEDRULE,95pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Termination<BR>
Without Cause </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Termination<BR>
for Good Reason </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Termination<BR>
Following a Viola<BR>
and Cifu Exit </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Change in<BR>
Control </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR bgcolor="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>


<!-- COMMAND=ADD_ROWSHADECOLOR,"#CCEEFF" -->


 Vincent Viola</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR bgcolor="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><I>


<!-- COMMAND=ADD_ROWSHADECOLOR,"#CCEEFF" -->


 Salary Payment</I></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR bgcolor="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><I>


<!-- COMMAND=ADD_ROWSHADECOLOR,"#CCEEFF" -->


 Bonus Payment</I></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR bgcolor="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><I>



<!-- COMMAND=ADD_ROWSHADECOLOR,"#CCEEFF" -->


 Equity Award</I></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Douglas A. Cifu</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><I>Salary Payment</I></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><I>Bonus Payment</I></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><I>Equity Award</I></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR bgcolor="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>


<!-- COMMAND=ADD_ROWSHADECOLOR,"#CCEEFF" -->


 Joseph Molluso</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR bgcolor="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><I>


<!-- COMMAND=ADD_ROWSHADECOLOR,"#CCEEFF" -->


 Salary Payment</I></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR bgcolor="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><I>


<!-- COMMAND=ADD_ROWSHADECOLOR,"#CCEEFF" -->


 Bonus Payment</I></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR bgcolor="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><I>


<!-- COMMAND=ADD_ROWSHADECOLOR,"#CCEEFF" -->


 Equity Award</I></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>2,359,031</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(1)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>2,359,031</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(1)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Venu Palaparthi</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>
&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>
&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>
&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>
&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><I>Salary Payments</I></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><I>Bonus Payment</I></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><I>Equity Award</I></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->


<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" >
 </DIV>
<DIV style="padding:0pt;position:relative;text-align:left;margin-left:10%;">
 <DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Amount
represents the value of Mr.&nbsp;Molluso's Unvested Class&nbsp;A-2 profits interests as of December&nbsp;31, 2014. </FONT></DD></DL>
 </DIV>

<P style="font-family:arial;"><FONT SIZE=2><B> Compensation of our Directors  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to the offering we paid our non-employee directors (other than Messrs.&nbsp;Bingle and Osnoss) $2,500 per board meeting
attended. Additionally, we have engaged
Mr.&nbsp;Abizaid to provide leadership consulting services from time to time for specified projects globally, and Mr.&nbsp;Abizaid has provided these services in each of four global offices to all
of our employees. We compensate Mr.&nbsp;Abizaid at a base rate of $5,000 per day for such services and also reimburse him for travel and other expenses incurred in connection with these
engagements. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Following
the offering, only non-employee directors (other than Messrs.&nbsp;Bingle and Osnoss) will receive compensation for service on the Board. The compensation payable to our
non-employee directors will consist of the following:</FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>an award of restricted stock units valued at $125,000 at the time of grant upon the completion of this offering and upon
re-election at each subsequent annual meeting of shareholders. The restricted stock units will vest on the one year anniversary of the date of grant; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>an annual cash retainer of $75,000, with no additional fees paid for Board and committee meetings attended; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>an annual cash retainer of $25,000 for the chair of the Audit Committee, $15,000 for the chair of the Compensation
Committee and $10,000 for the chair of the Nominating and Corporate Governance Committee; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>an annual cash retainer of $10,000 for members of the Audit Committee, $7,500 for members of the Compensation Committee
and $7,500 for members of the Nominating and Corporate Governance Committee. </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>133</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=8,SEQ=138,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=326315,FOLIO='133',FILE='DISK108:[13ZDI1.13ZDI16701]DS16701A.;130',USER='MTITUSS',CD='23-MAR-2015;13:11' -->
<A NAME="page_ds16701_1_134"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After
four years of service non-employee directors (other than Messrs.&nbsp;Bingle and Osnoss) must maintain a minimum stock ownership equal to $100,000. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table sets forth compensation earned by our directors during the year ended December&nbsp;31, 2014. </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="78pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="56pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="74pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="65pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Name

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Fees Earned or<BR>
Paid in Cash </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Equity<BR>
Awards(1) </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>All Other<BR>
Compensation </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Total </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>John P. Abizaid</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>127,250</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(2)</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>127,250</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Michael Bingle</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Douglas A. Cifu</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Joseph Osnoss</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>John F. (Jack) Sandner</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Vincent Viola</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->


<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" >
 </DIV>
<DIV style="padding:0pt;position:relative;text-align:left;margin-left:10%;">
 <DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>As
of December&nbsp;31, 2014, Messrs.&nbsp;Abizaid and Sander each held 7,691 Class&nbsp;A-2 profits interests in Virtu Employee Holdco, all of which
were vested. For outstanding equity awards held by Mr.&nbsp;Cifu, please see "Outstanding Equity Awards at Fiscal Year End" above.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Represents
fees paid to Mr.&nbsp;Abizaid pursuant to his consulting arrangement. </FONT></DD></DL>
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2><B> IPO Equity Grants  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with this offering, we intend to grant awards for an aggregate of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock
to our named executive officers under the 2015 Management Incentive Plan described below. The awards will consist of stock options for&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock in the
aggregate at an exercise price equal to the initial public offering price, which will expire on the tenth anniversary of the date of grant. Mr.&nbsp;Viola will be
granted&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;options,
Mr.&nbsp;Cifu will be granted&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;options. The options will be subject to time-based vesting conditions. They will generally vest in four equal installments of 25% on each of the first
four anniversaries of the date of grant, subject to continued employment on the applicable vesting date. The options shall otherwise be on terms consistent with the 2015 Management Incentive Plan
described below. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 2015 Management Incentive Plan  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our board of directors and stockholders plan to adopt the Virtu Financial 2015 Management Incentive Plan, which we refer to as the
2015 Management Incentive Plan, to become effective upon consummation of this offering. The following is a summary of certain terms and conditions of the 2015 Management Incentive Plan. This summary
is qualified in its entirety by reference to the 2015 Management Incentive Plan attached as an exhibit to the registration statement of which this prospectus forms&nbsp;a part. You are encouraged to
read the full 2015 Management Incentive Plan. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Administration.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Compensation Committee (or subcommittee thereof, if necessary for Section&nbsp;162(m) of the Code) will
administer the 2015
Management Incentive Plan. The Compensation Committee will have the authority to determine the terms and conditions of any agreements evidencing any awards granted under the 2015 Management Incentive
Plan and to adopt, alter and repeal rules, guidelines and practices relating to the 2015 Management Incentive Plan. The Compensation Committee will have full discretion to administer and interpret the
2015 Management Incentive Plan and to adopt such rules, regulations and procedures as it deems necessary or advisable and to determine, among other things, the time or times at which the awards may be
exercised and whether and under what circumstances an award may be exercised. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eligibility.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Any current or prospective employees, directors, officers, consultants or advisors of our Company or its
affiliates who are selected by
the Compensation Committee will be eligible for awards under the 2015 Management Incentive Plan. The Compensation Committee will have the </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>134</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=9,SEQ=139,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=435014,FOLIO='134',FILE='DISK108:[13ZDI1.13ZDI16701]DS16701A.;130',USER='MTITUSS',CD='23-MAR-2015;13:11' -->
<A NAME="page_ds16701_1_135"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>sole
and complete authority to determine who will be granted an award under the 2015 Management Incentive Plan. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Number of Shares Authorized.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The 2015 Management Incentive Plan provides for an aggregate
of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our Class&nbsp;A common
stock. No more than&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our Class&nbsp;A common stock may be issued with respect to incentive stock options under the 2015 Management
Incentive Plan. Other
than Mr.&nbsp;Viola's stock option grant in connection with this offering, no participant may be granted awards of options and stock appreciation rights with respect to more
than&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
shares of our Class&nbsp;A common stock in any 12-month period. No more than&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our Class&nbsp;A common stock may be granted under the
2015 Management Incentive Plan with
respect to any performance compensation awards to any participant during a performance period (or with respect to each year if the performance period is more than one year). The maximum amount payable
to any participant under the 2015 Management Incentive Plan for any single year during a performance period for a cash denominated award is $10,000,000 (with respect to each year if the performance
period is more than one year). Shares of our Class&nbsp;A common stock subject to awards are generally unavailable for future grant; provided that in no event shall such shares increase the number
of shares of our Class&nbsp;A common stock that may be delivered pursuant to incentive stock options granted under the 2015 Management Incentive Plan. If any award granted under the 2015 Management
Incentive Plan expires, terminates, is canceled or forfeited without being settled or exercised, or if a stock appreciation right is settled in cash or otherwise without the issuance of shares, shares
of our Class&nbsp;A common subject to such award will again be made available for future grant. In addition, if any shares are surrendered or tendered to pay the exercise price of an award or to
satisfy withholding taxes owed, such shares will again be available for grant under the 2015 Management Incentive Plan. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in Capitalization.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;If there is a change in our Company's corporate capitalization in the event of a stock or
extraordinary cash dividend,
recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, split-off, spin-off, combination, repurchase or exchange of shares of our Class&nbsp;A common
stock or Class&nbsp;B common stock or other relevant change in capitalization or applicable law or circumstances, such that the Compensation Committee determines that an adjustment to the terms of
the 2015 Management Incentive Plan (or awards thereunder) is necessary or appropriate, then the Compensation Committee may make adjustments in a manner that it deems equitable. Such adjustments may be
to the number of shares reserved for issuance under the 2015 Management Incentive Plan, the number of shares covered by awards then outstanding under the 2015 Management Incentive Plan, the
limitations on awards under the 2015 Management Incentive Plan, the exercise price of outstanding options and such other equitable substitution or adjustments as it may determine appropriate. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Awards Available for Grant.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Compensation Committee may grant awards of non-qualified stock options, incentive
(qualified) stock options, stock
appreciation rights ("SARs"), restricted stock awards, restricted stock units, other stock-based awards, performance compensation awards (including cash bonus awards), other cash-based awards or any
combination of the foregoing. Awards may be granted under the 2015 Management Incentive Plan in assumption of, or in substitution for, outstanding awards previously granted by an entity acquired by
our Company or with which our Company combines (which are referred to herein as "Substitute Awards"). </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock Options.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Compensation Committee will be authorized to grant options to purchase shares of our Class&nbsp;A common
stock that are either
"qualified," meaning they are intended to satisfy the
requirements of Section&nbsp;422 of the Code for incentive stock options, or "non-qualified," meaning they are not intended to satisfy the requirements of Section&nbsp;422 of the Code. All options
granted under the 2015 Management Incentive Plan shall be non-qualified unless the applicable award agreement expressly states that the option is intended to be an "incentive stock option." Options
granted under the 2015 Management Incentive Plan will be subject to the terms and </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>135</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=10,SEQ=140,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=629024,FOLIO='135',FILE='DISK108:[13ZDI1.13ZDI16701]DS16701A.;130',USER='MTITUSS',CD='23-MAR-2015;13:11' -->
<A NAME="page_ds16701_1_136"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>conditions
established by the Compensation Committee. Under the terms of the 2015 Management Incentive Plan, the exercise price of the options will not be less than the fair market value of our
Class&nbsp;A common stock at the time of grant (except with respect to Substitute Awards). Options granted under the 2015 Management Incentive Plan will be subject to such terms, including the
exercise price and the conditions and timing of exercise, as may be determined by the Compensation Committee and specified in the applicable award agreement. The maximum term of an option granted
under the 2015 Management Incentive Plan will be ten years from the date of grant (or five years in the case of a qualified option granted to a 10% shareholder), provided that, if the term of a
non-qualified option would expire at a time when trading in the shares of our Class&nbsp;A common stock is prohibited by our Company's insider trading policy, the option's term shall be
automatically extended until the 30th&nbsp;day following the expiration of such prohibition (as long as such extension shall not violate Section&nbsp;409A of the Code). Payment in respect of the
exercise of an option may be made in cash, by check, by cash equivalent and/or shares of our Class&nbsp;A common stock valued at the fair market value at the time the option is exercised (provided
that such shares are not subject to any pledge or other security interest), or by such other method as the Compensation Committee may permit in its sole discretion, including: (i)&nbsp;in other
property having a fair market value equal to the exercise price and all applicable required withholding taxes, (ii)&nbsp;if there is a public market for the shares of our Class&nbsp;A common stock
at such time, by means of a broker-assisted cashless exercise mechanism or (iii)&nbsp;by means of a "net exercise" procedure effected by withholding the minimum number of shares otherwise
deliverable in respect of an option that are needed to pay the exercise price and all applicable required withholding taxes. Any fractional shares of Class&nbsp;A common stock will be settled in
cash. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock Appreciation Rights.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Compensation Committee will be authorized to award SARs under the 2015 Management Incentive
Plan. SARs will be
subject to the terms and conditions established by the Compensation Committee. A SAR is a contractual right that allows a participant to receive, either in the form of cash, shares or any combination
of cash and shares, the appreciation, if any, in the value of a share over a certain period of time. An option granted under the 2015 Management Incentive Plan may include SARs and SARs may also be
awarded to a participant independent of the grant of an option. SARs granted in connection with an option shall be subject to terms similar to the option corresponding to such SARs, including with
respect to vesting and expiration. Except as otherwise provided by the Compensation Committee (in the case of Substitute Awards or SARs granted in tandem with previously granted options), the strike
price per share of our Class&nbsp;A common stock for each SAR shall not be less than 100% of the fair market value of such share, determined as of the date of grant. The remaining terms of the SARs
shall be established by the Compensation Committee and reflected in the award agreement. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restricted Stock.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Compensation Committee will be authorized to grant restricted stock under the 2015 Management
Incentive Plan, which will be
subject to the terms and conditions established by the Compensation Committee. Restricted stock is Class&nbsp;A common stock that generally is non-transferable and is subject to other restrictions
determined by the Compensation Committee for a specified period. Any accumulated dividends will be payable at the same time as the underlying restricted stock vests. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restricted Stock Unit Awards.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Compensation Committee will be authorized to award restricted stock unit awards, which
will be subject to the
terms and conditions established by the Compensation Committee. A restricted stock unit award, once vested, may be settled in common shares equal to the number of units earned, or in cash equal to the
fair market value of the number of vested shares, at the election of the Compensation Committee. Restricted stock units may be settled at the expiration of the period over which the units are to be
earned or at a later date selected by the Compensation Committee. To the extent provided in an award agreement, the holder of outstanding restricted stock units shall be entitled to be credited with
dividend equivalent payments upon the payment by our Company of dividends on shares of our Class&nbsp;A common </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>136</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=11,SEQ=141,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=196990,FOLIO='136',FILE='DISK108:[13ZDI1.13ZDI16701]DS16701A.;130',USER='MTITUSS',CD='23-MAR-2015;13:11' -->
<A NAME="page_ds16701_1_137"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>stock,
either in cash or (at the sole discretion of the Compensation Committee) in shares of our Class&nbsp;A common stock having a fair market value equal to the amount of such dividends, and
interest may, at the sole discretion of the Compensation Committee, be credited on the amount of cash dividend equivalents at a rate and subject to such terms as determined by the Compensation
Committee, which accumulated dividend equivalents (and interest thereon, if applicable) shall be payable at the same time as the underlying restricted stock units are settled. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other Stock-Based Awards.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Compensation Committee will be authorized to grant awards of unrestricted shares of our
Class&nbsp;A common stock,
rights to receive grants of awards at a future date, or other awards denominated in shares of our Class&nbsp;A common stock under such terms and conditions as the Compensation Committee may
determine and as set forth in the applicable award agreement. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Performance Compensation Awards.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Compensation Committee may grant any award under the 2015 Management Incentive Plan in
the form of a
"Performance Compensation Award" (including cash bonuses) intended to qualify as performance-based compensation for purposes of Section&nbsp;162(m) of the Code by conditioning the number of shares
earned or vested, or any payout, under the award on the satisfaction of certain "Performance Goals." The Compensation Committee may establish these Performance Goals with reference to one or more of
the following:</FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>net earnings or net income (before or after taxes); </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>basic or diluted earnings per share (before or after taxes); </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>net revenue or net revenue growth; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>gross revenue or gross revenue growth, gross profit or gross profit growth; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>net operating profit (before or after taxes); </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>return measures (including, but not limited to, return on investment, assets, capital, gross revenue or gross revenue
growth, invested capital, equity or sales); </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>cash flow measures (including, but not limited to, operating cash flow, free cash flow and cash flow return on capital),
which may but are not required to be measured on a per-share basis; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>earnings before or after taxes, interest, depreciation, and amortization (including EBIT and EBITDA); </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>gross or net operating margins; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>productivity ratios; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>share price (including, but not limited to, growth measures and total shareholder return; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>expense targets or cost reduction goals, general and administrative expense savings; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>operating efficiency; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>objective measures of customer satisfaction; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>working capital targets; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>measures of economic value added or other "value creation" metrics; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>enterprise value; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>stockholder return; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>client retention; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>competitive market metrics; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>employee retention; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>objective measures of personal targets, goals or completion of projects (including but not limited to succession and
hiring projects, completion of specific acquisitions, reorganizations </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>137</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=12,SEQ=142,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=722190,FOLIO='137',FILE='DISK108:[13ZDI1.13ZDI16701]DS16701A.;130',USER='MTITUSS',CD='23-MAR-2015;13:11' -->
<A NAME="page_ds16701_1_138"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<UL>
<UL>

<P style="font-family:arial;"><FONT SIZE=2>or
other corporate transactions or capital-raising transactions, expansions of specific business operations and meeting divisional or project budgets); </FONT></P>

</UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>system-wide revenues; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>cost of capital, debt leverage year-end cash position or book value;</FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>strategic objectives, development of new product lines and related revenue, sales and margin targets, or international
operations; or</FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>any combination of the foregoing. </FONT></DD></DL>
</UL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
of the above Performance Goal elements can be stated as a percentage of another Performance Goal or used on an absolute, relative or adjusted basis to measure the performance of our
Company and/or its affiliates or any divisions, operation or business units, product lines, asset classes, brands, administrative departments or combination thereof, as the Compensation Committee
deems appropriate. Performance Goals may be compared to the performance of a group of comparator companies or a published or special index that the Compensation Committee deems appropriate or, stock
market indices. The Compensation Committee may provide for accelerated vesting of any award based on the achievement of Performance Goals. Any award that is intended to qualify as "performance-based
compensation" under Section&nbsp;162(m) of the Code will be granted, and Performance Goals for such an award will be established, by the Compensation Committee in writing not later than
90&nbsp;days after the commencement of the performance period to which the Performance Goals relate, or such other period required under Section&nbsp;162(m) of the Code. Before any payment is made
in connection with any award intended to qualify as performance-based compensation under Section&nbsp;162(m) of the Code, the Compensation Committee must certify in writing that the Performance
Goals established with respect to such award have been achieved. In determining the actual amount of an individual participant's Performance Compensation Award for a performance period, the
Compensation Committee may reduce or eliminate the amount of the Performance Compensation Award earned consistent with Section&nbsp;162(m) of the Code. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Compensation Committee may also specify adjustments or modifications (to the extent it would not result in adverse results under Section&nbsp;162(m) of the Code) to be made to the
calculation of a Performance Goal for such performance period, based on and in order to appropriately reflect the following events: (i)&nbsp;asset write-downs; (ii)&nbsp;litigation or claim
judgments or settlements; (iii)&nbsp;the effect of changes in tax laws, accounting principles, or other laws or regulatory rules affecting reported results; (iv)&nbsp;any reorganization and
restructuring programs; (v)&nbsp;extraordinary nonrecurring items and/or in management's discussion and analysis of financial condition and results of operations appearing in our Company's annual
report to shareholders for the applicable year; (vi)&nbsp;acquisitions or divestitures; (vii)&nbsp;any other specific, unusual or nonrecurring events, or objectively determinable category thereof;
(viii)&nbsp;foreign exchange gains and losses; (ix)&nbsp;discontinued operations and nonrecurring charges; and (x)&nbsp;a change in our Company's fiscal year. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
otherwise provided in the applicable award agreement, a participant shall be eligible to receive payment in respect of a performance compensation award only to the extent that
(I)&nbsp;the Performance Goals for such period are achieved; and (II)&nbsp;all or some of the portion of such participant's performance compensation award has been earned for the performance
period based
on the application of the "Performance Formula" (as defined in the 2015 Management Incentive Plan) to such Performance Goals. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
a new public company, we expect to be eligible for transition relief from the deduction limitations imposed under Section&nbsp;162(m) of the Code until our first shareholders
meeting at which directors are elected that occurs in 2018. As a result, awards under the 2015 Management Incentive Plan (whether in the form of equity or cash bonuses) need not be designed to qualify
as performance-based compensation for purposes of Section&nbsp;162(m) of the Code during this transition </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>138</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=13,SEQ=143,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=907857,FOLIO='138',FILE='DISK108:[13ZDI1.13ZDI16701]DS16701A.;130',USER='MTITUSS',CD='23-MAR-2015;13:11' -->
<A NAME="page_ds16701_1_139"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>period,
and the Compensation Committee may take this into account in determining terms and conditions of awards granted under the 2015 Management Incentive Plan. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effect of a Change in Control.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise provided in an award agreement, or any applicable employment, consulting,
change in control,
severance or other agreement between a participant and our Company, in the event of a change of control, if a participant's employment or service is terminated by our Company other than for cause (and
other than due to death or disability) within the 12-month period following a change in control, then the Compensation Committee may provide that (i)&nbsp;all then-outstanding options and SARs will
become immediately exercisable as of such participant's date of termination with respect to all of the shares subject to such option or SAR; and/or (ii)&nbsp;the restricted period shall expire as of
such participant's date of termination with respect to all of the then-outstanding shares of restricted stock or restricted stock units (including without limitation a waiver of any applicable
Performance Goals); provided that any award whose vesting or exercisability is otherwise subject to the achievement of performance conditions, the portion of such award that shall become fully vested
and immediately exercisable shall be based on the assumed achievement of target performance as determined by the Compensation Committee and prorated for the number of days elapsed from the grant date
of such award through the date of termination. In addition, the Compensation Committee may in its discretion and upon at least ten days' notice to the affected persons, cancel any outstanding award
and pay the holders, in cash, securities or other property (including of the acquiring or successor company), or any combination thereof, the value of such awards based upon the price per share of the
Company's common stock received or to be received by other shareholders of the Company in the event. Notwithstanding the above, the Compensation Committee shall exercise such discretion over any award
subject to Section&nbsp;409A of the Code at the time such award is granted. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nontransferability.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Each award may be exercised during the participant's lifetime by the participant or, if permissible
under applicable law, by the
participant's guardian or legal representative. No
award may be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by a participant other than by will or by the laws of descent and distribution unless the Compensation
Committee permits the award to be transferred to a permitted transferee (as defined in the 2015 Management Incentive Plan). </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amendment.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The 2015 Management Incentive Plan will have a term of ten years. The board of directors may amend, suspend or
terminate the 2015
Management Incentive Plan at any time, subject to stockholder approval if necessary to comply with any tax, NASDAQ or other applicable regulatory requirement. No amendment, suspension or termination
will materially and adversely affect the rights of any participant or recipient of any award without the consent of the participant or recipient. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Compensation Committee may, to the extent consistent with the terms of any applicable award agreement, waive any conditions or rights under, amend any terms of, or alter, suspend,
discontinue, cancel or terminate, any award theretofore granted or the associated award agreement, prospectively or retroactively; </FONT><FONT SIZE=2><I>provided</I></FONT><FONT SIZE=2> that any
such waiver, amendment, alteration, suspension, discontinuance, cancellation or termination that would materially and adversely affect the rights of any participant or any holder or beneficiary of any
option theretofore granted will not to that extent be effective without the consent of the affected participant, holder or beneficiary; and </FONT><FONT SIZE=2><I>provided
further</I></FONT><FONT SIZE=2> that, without stockholder approval, (i)&nbsp;no amendment or modification may reduce the option price of any option or the strike price of any SAR, (ii)&nbsp;the
Compensation Committee may not cancel any outstanding option and replace it with a new option (with a lower exercise price) or cancel any SAR and replace it with a new SAR (with a lower strike price)
or other award or cash in a manner that would be treated as a repricing (for compensation disclosure or accounting purposes), and (iii)&nbsp;the Compensation Committee may not take any other action
considered a repricing for purposes of the shareholder approval rules of the applicable securities exchange on </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>139</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=14,SEQ=144,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=995677,FOLIO='139',FILE='DISK108:[13ZDI1.13ZDI16701]DS16701A.;130',USER='MTITUSS',CD='23-MAR-2015;13:11' -->
<A NAME="page_ds16701_1_140"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>which
our common shares are listed. However, stockholder approval is not required with respect to clauses&nbsp;(i), (ii), and (iii)&nbsp;above with respect to certain adjustments on changes in
capitalization. In addition, none of the requirements described in the preceding clauses&nbsp;(i), (ii), and (iii)&nbsp;can be amended without the approval of our stockholders. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> U.S. Federal Income Tax Consequences  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following is a general summary of the material U.S. federal income tax consequences of the grant and exercise and vesting of
awards under the 2015 Management Incentive Plan and the disposition of shares acquired pursuant to the exercise or settlement of such awards and is intended to reflect the current provisions of the
Code and the regulations thereunder. This summary is not intended to be a complete statement of applicable law, nor does it address foreign, state, local and payroll tax considerations. This summary
assumes that all awards described in the summary are exempt from, or comply with, the requirement of Section&nbsp;409A of the Code. Moreover, the U.S. federal income tax consequences to any
particular participant may differ from those described herein by reason of, among other things, the particular circumstances of such participant. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock Options.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Code requires that, for treatment of an option as an incentive stock option, shares of our Class&nbsp;A
common stock acquired
through the exercise of an incentive stock option cannot be disposed of before the later of (i)&nbsp;two years from the date of grant of the option, or (ii)&nbsp;one year from the date of
exercise. Holders of incentive stock options will generally incur no federal income tax liability at the time of grant or upon exercise of those options. However, the spread at exercise will be an
"item of tax preference," which may give rise to "alternative minimum tax" liability for the taxable year in which the exercise occurs. If the holder does not dispose of the shares before two years
following the date of grant and one year following the date of exercise, the difference between the exercise price and the amount realized upon disposition of the shares will constitute long-term
capital gain or loss, as the case may be. Assuming both holding periods are satisfied, no deduction will be allowed to us for federal income tax purposes in connection with the grant or exercise of
the incentive stock option. If, within two years following the date of grant or within one year following the date of exercise, the holder of shares acquired through the exercise of an incentive stock
option disposes of those shares, the participant will generally realize taxable compensation at the time of such disposition equal to the difference between the exercise price and the lesser of the
fair market value of the share on the date of exercise or the amount realized on the subsequent disposition of the shares, and that amount will generally be deductible by us for federal income tax
purposes, subject to the possible limitations on deductibility under Sections&nbsp;280G and 162(m) of the Code for compensation paid to executives designated in those Sections. Finally, if an
incentive stock option becomes first exercisable in any one year for shares having an aggregate value in excess of $100,000 (based on the grant date value), the portion of the incentive stock option
in respect of those excess shares will be treated as a non-qualified stock option for federal income tax purposes. No income will be realized by a participant upon grant of an option that does not
qualify as an incentive stock option ("a non-qualified stock option"). Upon the exercise of a non-qualified stock option, the participant will recognize ordinary compensation income in an amount equal
to the excess, if any, of the fair market value of the underlying exercised shares over the option exercise price paid at the time of exercise and the participant's tax basis will equal the sum of the
compensation income recognized and the exercise price. Our Company will be able to deduct this same amount for U.S. federal income tax purposes, but such deduction may be limited under
Sections&nbsp;280G and 162(m) of the Code for compensation paid to certain executives designated in those Sections. In the event of a sale of shares received upon the exercise of a non-qualified
stock option, any appreciation or depreciation after the exercise date
generally will be taxed as capital gain or loss and will be long-term gain or loss if the holding period for such shares is more than one year. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>140</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=15,SEQ=145,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=244772,FOLIO='140',FILE='DISK108:[13ZDI1.13ZDI16701]DS16701A.;130',USER='MTITUSS',CD='23-MAR-2015;13:11' -->
<A NAME="page_ds16701_1_141"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SARs.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;No income will be realized by a participant upon grant of a SAR. Upon the exercise of a SAR, the participant will
recognize ordinary
compensation income in an amount equal to the fair market value of the payment received in respect of the SAR. Our Company will be able to deduct this same amount for U.S. federal income tax purposes,
but such deduction may be limited under Sections&nbsp;280G and 162(m) of the Code for compensation paid to certain executives designated in those Sections. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restricted Stock.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;A participant will not be subject to tax upon the grant of an award of restricted stock unless the
participant otherwise elects to
be taxed at the time of grant pursuant to Section&nbsp;83(b) of the Code. On the date an award of restricted stock becomes transferable or is no longer subject to a substantial risk of forfeiture,
the participant will have taxable compensation equal to the difference between the fair market value of the shares on that date over the amount the participant paid for such shares, if any, unless the
participant made an election under Section&nbsp;83(b) of the Code to be taxed at the time of grant. If the participant made an election under Section&nbsp;83(b), the participant will have taxable
compensation at the time of grant equal to the difference between the fair market value of the shares on the date of grant over the amount the participant paid for such shares, if any. If the election
is made, the participant will not be allowed a deduction for amounts subsequently required to be returned to our Company. (Special rules apply to the receipt and disposition of restricted shares
received by officers and directors who are subject to Section&nbsp;16(b) of the Exchange Act). Our Company will be able to deduct, at the same time as it is recognized by the participant, the amount
of taxable compensation to the participant for U.S. federal income tax purposes, but such deduction may be limited under Sections&nbsp;280G and 162(m) of the Code for compensation paid to certain
executives designated in those Sections. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restricted Stock Units.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;A participant will not be subject to tax upon the grant of a restricted stock unit award. Rather,
upon the delivery of
shares or cash pursuant to a restricted stock unit award, the participant will have taxable compensation equal to the fair market value of the number of shares (or the amount of cash) the participant
actually receives with respect to the award. Our Company will be able to deduct the amount of taxable compensation to the participant for U.S. federal income tax purposes, but the deduction may be
limited under Sections&nbsp;280G and 162(m) of the Code for compensation paid to certain executives designated in those Sections. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;162(m).</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;In general, Section&nbsp;162(m) of the Code denies a publicly held corporation a deduction for U.S.
federal income tax
purposes for compensation in excess of $1,000,000 per year per person to its chief executive officer and the three other officers whose compensation is required to be disclosed in its proxy statement
(excluding the chief financial officer), subject to certain exceptions. The 2015 Management Incentive Plan is intended to satisfy an exception with respect to grants of options and SARs to covered
employees. In addition, the 2015 Management Incentive Plan is designed to permit certain awards of restricted stock, restricted stock units and other awards (including cash bonus awards) to be awarded
as performance compensation awards intended to qualify under the "performance-based compensation" exception to Section&nbsp;162(m) of the Code. As discussed above, as a new public company, we expect
to be eligible for transition relief from the deduction limitations imposed under Section&nbsp;162(m) of the Code until our first shareholders meeting at which directors are elected that occurs in
2019. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>141</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=16,SEQ=146,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=788645,FOLIO='141',FILE='DISK108:[13ZDI1.13ZDI16701]DS16701A.;130',USER='MTITUSS',CD='23-MAR-2015;13:11' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_du16701_1_142"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="du16701_principal_stockholders"> </A>
<A NAME="toc_du16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  PRINCIPAL STOCKHOLDERS    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The tables below set forth information with respect to the beneficial ownership of our Class&nbsp;A common stock and Class&nbsp;B
common stock by:</FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>each of our directors and executive officers; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>each person who is known to be the beneficial owner of more than 5% of any class or series of our capital stock; and </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>all of our directors and executive officers as a group. </FONT></DD></DL>
</UL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
numbers of shares of Class&nbsp;A common stock and Class&nbsp;B common stock beneficially owned, percentages of beneficial ownership and percentages of combined voting power for
before this offering that are set forth below are based on (i)&nbsp;the number of shares and Virtu Financial Units to be issued and outstanding prior to this offering after giving effect to the
reorganization transactions and (ii)&nbsp;an assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated public offering price range set forth on the
cover
page of this prospectus). See "Organizational Structure." The numbers of shares of Class&nbsp;A common stock and Class&nbsp;B common stock beneficially owned, percentages of beneficial ownership
and percentages of combined voting power for after this offering that are set forth below are based on (a)&nbsp;the number of shares and Virtu Financial Units to be issued and outstanding
immediately after this offering and (b)&nbsp;an assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated public offering price range set forth on
the cover
page of this prospectus). </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
intend to use approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million (or $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million if the underwriters exercise
their option to purchase additional shares in full) of
the net proceeds from this offering to repurchase shares of Class&nbsp;A common stock from the Silver Lake Post-IPO Stockholder and Virtu Financial Units (and corresponding shares of Class&nbsp;C
common stock or Class&nbsp;D common stock) from certain of the Virtu Post-IPO Members, including the Silver Lake Post-IPO Members, certain members of management and, if the underwriters exercise
their option to purchase additional shares, the Founder Post-IPO Member. The beneficial ownership numbers and percentages for after this offering set forth below reflect this application of such net
proceeds from this offering. See "Use of Proceeds" and "Certain Relationships and Related Party Transactions&nbsp;&#151; Purchases from Equityholders." </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
amounts and percentages of Class&nbsp;A common stock and Class&nbsp;B common stock beneficially owned are reported on the basis of the regulations of the SEC governing the
determination of beneficial ownership of securities. Under these rules, a person is deemed to be a beneficial owner of a security if that person has or shares voting power, which includes the power to
vote or to direct the voting of such security, or investment power, which includes the power to dispose of or to direct the disposition of such security. A person is also deemed to be a beneficial
owner of any securities of which that person has a right to acquire beneficial ownership within 60&nbsp;days. Under these rules, more than one person may be deemed to be a beneficial owner of the
same securities. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise indicated, the address for each beneficial owner listed below is: c/o Virtu Financial,&nbsp;Inc., 900 Third Avenue, New York, New York 10022-1010.

</FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>142</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=147,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=752813,FOLIO='142',FILE='DISK108:[13ZDI1.13ZDI16701]DU16701A.;144',USER='AGAETZ',CD='23-MAR-2015;11:17' -->
<A NAME="page_du16701_1_143"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table assumes the underwriters' option to purchase additional shares is not exercised. </FONT></P>
 <DIV style="padding:0pt;position:relative;width:54%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"150%" -->


<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="150%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="6pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="37pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="51pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="37pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="51pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="37pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="51pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="37pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="51pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="64pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="58pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=11 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Class&nbsp;A Common Stock Owned<BR>
(on a fully exchanged and<BR>
converted basis)(1) </B></FONT></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=11 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Class&nbsp;B Common Stock Owned<BR>
(on a fully exchanged basis)(2) </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Combined Voting Power(3) </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=3 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ROWSPAN=3 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Before this<BR>
Offering </B></FONT></TH>
<TH ROWSPAN=3 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ROWSPAN=3 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>After this<BR>
Offering </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=5 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Before this Offering </B></FONT></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=5 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>After this Offering </B></FONT></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=5 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Before this Offering </B></FONT></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=5 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>After this Offering </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH NOWRAP  ROWSPAN=2 ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:133pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Name and Address of Beneficial Owner

<!-- COMMAND=ADD_SCROPPEDRULE,133pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:27pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Number

<!-- COMMAND=ADD_SCROPPEDRULE,27pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:38pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Percentage

<!-- COMMAND=ADD_SCROPPEDRULE,38pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:27pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Number


<!-- COMMAND=ADD_SCROPPEDRULE,27pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:38pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Percentage

<!-- COMMAND=ADD_SCROPPEDRULE,38pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:27pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Number

<!-- COMMAND=ADD_SCROPPEDRULE,27pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:38pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Percentage

<!-- COMMAND=ADD_SCROPPEDRULE,38pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:27pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Number

<!-- COMMAND=ADD_SCROPPEDRULE,27pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:38pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Percentage

<!-- COMMAND=ADD_SCROPPEDRULE,38pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:38pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Percentage

<!-- COMMAND=ADD_SCROPPEDRULE,38pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:38pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Percentage

<!-- COMMAND=ADD_SCROPPEDRULE,38pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B> 5% Equityholders</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">TJMT Holdings LLC(4)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Silver Lake Equityholders(5)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Temasek Post-IPO Stockholder(6)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Virtu Employee Holdco&nbsp;LLC(7)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Directors and Executive Officers</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Vincent Viola(4)(7)(8)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Douglas A. Cifu(9)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Joseph Molluso</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Venu Palaparthi</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">John P. Abizaid(10)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Michael Bingle</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">William F. Cruger, Jr.&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Joseph Osnoss</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">John F. (Jack) Sandner(11)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>All directors and executive officers as a group (10 persons)</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
</TR>
</TABLE></DIV>

<!-- end of user-specified TAGGED TABLE -->


<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="9%" ALIGN="LEFT" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="9%" ALIGN="LEFT" >
 </DIV>
<DIV style="padding:0pt;position:relative;text-align:left;margin-left:10%;">
 <DL compact>
<DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">Less
than 1%. </FONT></DD></DL>
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table assumes the underwriters' option to purchase additional shares is exercised in full. </FONT></P>
 <DIV style="padding:0pt;position:relative;width:54%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"150%" -->


<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="150%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="6pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="37pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="51pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="37pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="51pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="37pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="51pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="37pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="51pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="64pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="58pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=11 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Class&nbsp;A Common Stock Owned<BR>
(on a fully exchanged and<BR>
converted basis)(1) </B></FONT></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=11 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Class&nbsp;B Common Stock Owned<BR>
(on a fully exchanged basis)(2) </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Combined Voting Power(3) </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=3 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ROWSPAN=3 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Before this<BR>
Offering </B></FONT></TH>
<TH ROWSPAN=3 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ROWSPAN=3 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>After this<BR>
Offering </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=5 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Before this Offering </B></FONT></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=5 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>After this Offering </B></FONT></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=5 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Before this Offering </B></FONT></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=5 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>After this Offering </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH NOWRAP  ROWSPAN=2 ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:133pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Name and Address of Beneficial Owner

<!-- COMMAND=ADD_SCROPPEDRULE,133pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:27pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Number

<!-- COMMAND=ADD_SCROPPEDRULE,27pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:38pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Percentage

<!-- COMMAND=ADD_SCROPPEDRULE,38pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:27pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Number


<!-- COMMAND=ADD_SCROPPEDRULE,27pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:38pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Percentage

<!-- COMMAND=ADD_SCROPPEDRULE,38pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:27pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Number

<!-- COMMAND=ADD_SCROPPEDRULE,27pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:38pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Percentage

<!-- COMMAND=ADD_SCROPPEDRULE,38pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:27pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Number

<!-- COMMAND=ADD_SCROPPEDRULE,27pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:38pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Percentage

<!-- COMMAND=ADD_SCROPPEDRULE,38pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:38pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Percentage

<!-- COMMAND=ADD_SCROPPEDRULE,38pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:38pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Percentage

<!-- COMMAND=ADD_SCROPPEDRULE,38pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B> 5% Equityholders</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">TJMT Holdings LLC(4)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Silver Lake Equityholders(5)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Temasek Post-IPO Stockholder(6)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Virtu Employee Holdco&nbsp;LLC(7)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Directors and Executive Officers</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Vincent Viola(4)(7)(8)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Douglas A. Cifu(9)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Joseph Molluso</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Venu Palaparthi</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">John P. Abizaid(10)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Michael Bingle</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">William F. Cruger, Jr.&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Joseph Osnoss</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">John F. (Jack) Sandner(11)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>All directors and executive officers as a group (10 persons)</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">%</FONT></TD>
</TR>
</TABLE></DIV>

<!-- end of user-specified TAGGED TABLE -->


<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="9%" ALIGN="LEFT" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="9%" ALIGN="LEFT" >
 </DIV>
<DIV style="padding:0pt;position:relative;text-align:left;margin-left:10%;">
 <DL compact>
<DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">*</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">Less
than 1%. </FONT></DD></DL>
 </DIV>
<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>143</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=148,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=880348,FOLIO='143',FILE='DISK108:[13ZDI1.13ZDI16701]DU16701A.;144',USER='AGAETZ',CD='23-MAR-2015;11:17' -->
<A NAME="page_du16701_1_144"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<DL compact>
<DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(1)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">Each
Virtu Post-IPO Member, other than the Founder Post-IPO Member, holds Virtu Financial Units and an equal number of shares of Class&nbsp;C common
stock. Each Virtu Post-IPO Member, other than the Founder Post-IPO Member, has the right at any time to exchange any vested Virtu Financial Units (together with a corresponding number of shares of
Class&nbsp;C common stock) for shares of Class&nbsp;A common stock on a one-for-one basis. The Founder Post-IPO Member has the right at any time to exchange any Virtu Financial Units (together
with a corresponding number of shares of Class&nbsp;D common stock) for shares of Class&nbsp;B common stock on a one-for-one basis and to convert shares of Class&nbsp;B common stock into shares
of Class&nbsp;A common stock on a one-for-one basis. See "Description of Capital Stock." The numbers of shares of Class&nbsp;A common stock beneficially owned and percentages of beneficial
ownership set forth in the table assume that (i)&nbsp;all vested Virtu Financial Units (together with the corresponding shares of Class&nbsp;C common stock) have been exchanged for shares of
Class&nbsp;A common stock, (ii)&nbsp;all vested Virtu Financial Units (together with the corresponding shares of Class&nbsp;D common stock) have been exchanged for shares of Class&nbsp;B
common stock and (iii)&nbsp;all shares of Class&nbsp;B common stock have been converted into shares of Class&nbsp;A common stock. Set forth below is a table that lists each of our directors and
named executive officers who own Virtu Financial Units and corresponding shares of Class&nbsp;C common stock: </FONT></DD></DL>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="138pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:20pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Name

<!-- COMMAND=ADD_SCROPPEDRULE,20pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:106pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Number of Virtu Financial Units<BR>
and Shares of<BR>
Class&nbsp;C Common Stock

<!-- COMMAND=ADD_SCROPPEDRULE,106pt -->

 </B></FONT></DIV></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Douglas A. Cifu</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <DL compact>
<DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(2)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">Prior
to this offering, the Founder Post-IPO Member holds&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu Financial Units and an equal number of shares of Class&nbsp;D common stock.
The Founder Post-IPO Member has the right at any time to exchange any Virtu Financial Units (together with a corresponding number of shares of Class&nbsp;D common stock) for shares of Class&nbsp;B
common stock on a one-for-one basis and to convert shares of Class&nbsp;B common stock into a shares of Class&nbsp;A common stock on a one-for-one basis. See "Description of Capital Stock." The
numbers of shares of Class B common stock beneficially owned and percentages of beneficial ownership set forth in the table assume that all vested Virtu Financial Units (together with the
corresponding shares of Class D common stock) have been exchanged for shares of Class B common stock.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(3)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">Percentage
of combined voting power represents voting power with respect to all shares of our Class&nbsp;A common stock, Class&nbsp;B common stock,
Class&nbsp;C common stock and Class&nbsp;D common stock, voting together as a single class. Each holder of Class&nbsp;B common stock and Class&nbsp;D common stock is entitled to 10 votes per
share and each holder of Class&nbsp;A common stock and Class&nbsp;C common stock is entitled to one vote per share on all matters submitted to our stockholders for a vote. Our Class&nbsp;C
common stock and Class&nbsp;D common stock do not have any of the economic rights (including rights to dividends and distributions upon liquidation) associated with our Class&nbsp;A and
Class&nbsp;B common stock. See "Description of Capital Stock."
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(4)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">TJMT
Holdings&nbsp;LLC, the Founder Post-IPO Member, is owned by trusts for the benefit of family members of Mr.&nbsp;Viola and Teresa Viola,
Mr.&nbsp;Viola's wife. Teresa Viola and Michael Viola, Mr.&nbsp;Viola's son, share dispositive control and voting control over the shares held by the Founder Post-IPO Member. Mr.&nbsp;Viola may
be deemed to beneficially own the shares held by the Founder Post-IPO Member by virtue of his relationship with Teresa Viola.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(5)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">The
Class&nbsp;A common stock owned by the Silver Lake Equityholders is comprised of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock
held by SLP III
EW Feeder I,&nbsp;L.P., the general partner of which is Silver Lake Technology Associates III,&nbsp;L.P. ("Silver Lake Technology")
;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock issuable
upon the exchange of Virtu Financial Units and corresponding shares of Class&nbsp;C common stock held by SLP Virtu Investors,&nbsp;LLC, the managing member of which is Silver Lake Partners III DE
(AIV III),&nbsp;L.P., the general partner of which is Silver Lake Technology; and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock
issuable upon the exchange of Virtu Financial Units and
corresponding shares of Class&nbsp;C common stock held by Silver Lake Technology, the general partner of which is SLTA&nbsp;III (GP), L.L.C. ("GP").

<BR><BR></FONT></DD>

<DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(6)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">Temasek
Post-IPO Stockholder is an indirect wholly owned subsidiary of Temasek Holdings (Private) Limited.

<BR><BR></FONT></DD>

<DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(7)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">Mr.&nbsp;Viola
is the manager of Virtu Employee Holdco and exercises dispositive control and voting control over the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares held by Virtu
Employee Holdco. Mr.&nbsp;Viola disclaims beneficial ownership in such shares except to the extent of his pecuniary interest therein.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(8)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">Includes
shares held by Virtu Employee Holdco.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(9)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">The
Class&nbsp;A common stock owned by Mr.&nbsp;Cifu is comprised of:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock issuable upon the exchange
of Virtu Financial Units and corresponding shares of Class&nbsp;C common stock held by Mr.&nbsp;Cifu; and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock issuable upon the exchange of
Virtu
Financial Units and corresponding shares of Class&nbsp;C common stock held by a trust for the benefit of the Cifu Family Trust. Melissa B. Lautenberg, Mr.&nbsp;Cifu's wife, and Dr.&nbsp;Mitchel
A. Lautenberg, Ms.&nbsp;Lautenberg's brother, share dispositive control and voting control over the shares held by the Cifu Family Trust. Mr.&nbsp;Cifu may be deemed to beneficially own the shares
held by the Cifu Family Trust by virtue of his relationship with Ms.&nbsp;Lautenberg.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(10)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">Consists
of shares held by Virtu Employee Holdco on behalf of Mr.&nbsp;Abizaid.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-9pt;'><FONT  style="font-size:8pt;line-height:9pt;">(11)</FONT></DT><DD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">Consists
of shares held by Virtu Employee Holdco on behalf of Mr.&nbsp;Sandner. </FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>144</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=149,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=603861,FOLIO='144',FILE='DISK108:[13ZDI1.13ZDI16701]DU16701A.;144',USER='AGAETZ',CD='23-MAR-2015;11:17' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_dw16701_1_145"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="dw16701_certain_relationships_and_related_party_transactions"> </A>
<A NAME="toc_dw16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS    <BR>    </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> Reorganization Agreement and Common Stock Subscription Agreement  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the reorganization transactions, we will enter into a reorganization agreement and related agreements with Virtu
Financial, four of our wholly owned subsidiaries, and each of the Virtu Post-IPO Members, including the Founder Post-IPO Member, the Silver Lake Post-IPO Members, the Temasek Post-IPO Stockholder,
Virtu Employee Holdco and certain Virtu Pre-IPO Members, which will affect the reorganization transactions. See "Organizational Structure" for more information. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
table below sets forth the consideration in Virtu Financial Units, Class&nbsp;A common stock, Class&nbsp;B common stock, Class&nbsp;C common stock and Class&nbsp;D common
stock to be received by our 5% equityholders, directors and executive officers in the reorganization transactions, based on an assumed public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share
(the midpoint
of the estimated public offering price range set forth on the cover page of this prospectus): </FONT></P>
 <DIV style="padding:0pt;position:relative;width:54%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"150%" -->


<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="150%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="87pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="87pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="87pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="87pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="87pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:24pt;"><FONT SIZE=2><B>Name

<!-- COMMAND=ADD_SCROPPEDRULE,24pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:62pt;"><FONT SIZE=2><B>Virtu Financial<BR>
Units to Be<BR>
Issued in the<BR>
Reorganization<BR>
Transactions

<!-- COMMAND=ADD_SCROPPEDRULE,62pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:63pt;"><FONT SIZE=2><B>Class&nbsp;A<BR>
Common Stock<BR>
to Be Issued<BR>
in the<BR>
Reorganization<BR>
Transactions

<!-- COMMAND=ADD_SCROPPEDRULE,63pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:63pt;"><FONT SIZE=2><B>Class&nbsp;B<BR>
Common Stock<BR>
to Be Issued<BR>
in the<BR>
Reorganization<BR>
Transactions

<!-- COMMAND=ADD_SCROPPEDRULE,63pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:63pt;"><FONT SIZE=2><B>Class&nbsp;C<BR>
Common Stock<BR>
to Be Issued<BR>
in the<BR>
Reorganization<BR>
Transactions

<!-- COMMAND=ADD_SCROPPEDRULE,63pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:63pt;"><FONT SIZE=2><B>Class&nbsp;D<BR>
Common Stock<BR>
to Be Issued<BR>
in the<BR>
Reorganization<BR>
Transactions

<!-- COMMAND=ADD_SCROPPEDRULE,63pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=2> </FONT><FONT SIZE=2> TJMT Holdings LLC</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>SLP III EW Feeder I,&nbsp;L.P.&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Silver Lake Technology Associates III,&nbsp;L.P.&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>SLP Virtu Investors, LLC</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Havelock Fund Investments Pte&nbsp;Ltd.&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Virtu Employee Holdco&nbsp;LLC</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Vincent Viola</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Douglas A. Cifu</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Joseph Molluso</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Venu Palaparthi</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>John P. Abizaid</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Michael Bingle</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>William F. Cruger, Jr.&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Joseph Osnoss</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>John F. (Jack) Sandner</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>

<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The consideration set forth above and otherwise to be received in the reorganization transactions is subject to adjustment based on the final
public offering price of our Class&nbsp;A common stock in this offering. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Purchases from Equityholders  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Immediately following this offering, based on the midpoint of the estimated public offering price range set forth on the cover page of
this prospectus and assuming the underwriters' option to purchase additional shares is not exercised, we will use approximately
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million of our net proceeds from this offering to repurchase&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock from the Silver
Lake Post-IPO Stockholder and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Virtu Financial Units and corresponding shares of Class&nbsp;C common stock from certain of the Virtu Post-IPO Members, including the Silver Lake Post-IPO Members and certain members of management
(or the remaining approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million, to repurchase&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock
and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu Financial Units (and corresponding shares
of Class&nbsp;C common stock or Class&nbsp;D common stock) from the Founder Post- </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>145</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=150,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=984386,FOLIO='145',FILE='DISK108:[13ZDI1.13ZDI16701]DW16701A.;167',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_dw16701_1_146"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>IPO
Member and certain members of management if the underwriters exercise their option to purchase additional shares in full). </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table sets forth the cash proceeds that each of our existing 5% equityholders, directors and executive officers will receive from the purchase by us of shares of
Class&nbsp;A common stock or Virtu Financial Units and corresponding shares of Class&nbsp;C common stock with the proceeds from this offering, based on the midpoint of the estimated public
offering price range set forth on the cover page of this prospectus and assuming the underwriters' option to purchase additional shares is not exercised: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:57%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"140%" -->


<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="140%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="282pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="111pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:27pt;"><FONT SIZE=2><B>Name

<!-- COMMAND=ADD_SCROPPEDRULE,27pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:215pt;"><FONT SIZE=2><B>Number of shares of Class&nbsp;A common stock or<BR>
Virtu Financial Units and corresponding shares<BR>
of Class&nbsp;C common stock to be sold to us,<BR>
assuming the underwriters' option to purchase<BR>
additional shares is not exercised

<!-- COMMAND=ADD_SCROPPEDRULE,215pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:85pt;"><FONT SIZE=2><B>Cash proceeds ($)

<!-- COMMAND=ADD_SCROPPEDRULE,85pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2> SLP Virtu Investors, LLC</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>SLP III EW Feeder I,&nbsp;L.P.&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Silver Lake Technology Associates III, L.P</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Virtu Employee Holdco&nbsp;LLC</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>

<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition to the equityholders set forth above, if the underwriters exercise their option to purchase additional shares, any additional Virtu
Financial Units (and corresponding shares of Class&nbsp;C common stock or Class&nbsp;D common stock) to be purchased as a result of such exercise will be purchased from the Founder Post-IPO
Member, Mr.&nbsp;Cifu and the Cifu 2011 Family Trust, as applicable. The following table sets forth the expected cash proceeds that each of these persons will receive from the purchase by us of
Virtu Financial Units (and corresponding shares of Class&nbsp;C common stock or Class&nbsp;D common stock) with the proceeds from this offering, based on the midpoint of the estimated public
offering price range set forth on the cover page of this prospectus and assuming the underwriters' option to purchase additional shares is exercised in full: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:57%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"140%" -->


<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="140%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="282pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="111pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:27pt;"><FONT SIZE=2><B>Name

<!-- COMMAND=ADD_SCROPPEDRULE,27pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:211pt;"><FONT SIZE=2><B>Number of Virtu Financial Units (and<BR>
corresponding shares of Class&nbsp;C common<BR>
stock or Class&nbsp;D common stock to be sold<BR>
to us), assuming the underwriters' option to<BR>
purchase additional shares is exercised in full

<!-- COMMAND=ADD_SCROPPEDRULE,211pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:85pt;"><FONT SIZE=2><B>Cash proceeds ($)

<!-- COMMAND=ADD_SCROPPEDRULE,85pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2> TJMT Holding LLC</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Douglas A. Cifu</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Cifu 2011 Family Trust</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>

<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2><B> Amended and Restated Virtu Financial Limited Liability Company Agreement  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the reorganization transactions, we, Virtu Financial and each of the Virtu Post-IPO Members, including the Founder
Post-IPO Member, the Silver Lake Post-IPO Members, the Temasek Post-IPO Stockholder and Virtu Employee Holdco, will enter into the Amended and Restated Virtu Financial&nbsp;LLC Agreement. Following
the reorganization transactions, and in accordance with the terms of the Amended and Restated Virtu Financial&nbsp;LLC Agreement, we will operate our business through Virtu Financial and its
subsidiaries. Pursuant to the terms of the Amended and Restated Virtu Financial&nbsp;LLC Agreement, so long as affiliates of Mr.&nbsp;Viola or affiliates of Silver Lake Partners continue to own
any Virtu Financial Units, shares of our Class&nbsp;A common stock or securities exchangeable or convertible into shares of our Class&nbsp;A common stock, we will not, without the prior written
consent of such holders, engage in any business activity other than the management and ownership of Virtu Financial and its subsidiaries or own any assets other than securities of Virtu Financial and
its subsidiaries and/or any cash or other property or assets distributed by or otherwise received from Virtu Financial and its subsidiaries, unless we determine in </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>146</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=151,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=188630,FOLIO='146',FILE='DISK108:[13ZDI1.13ZDI16701]DW16701A.;167',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_dw16701_1_147"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>good
faith that such actions or ownership are in the best interest of Virtu Financial. As the sole managing member of Virtu Financial, we will have control over all of the affairs and decision making
of Virtu Financial. As such, through our officers and directors, we will be responsible for all operational and administrative decisions of Virtu Financial and the day-to-day management of Virtu
Financial's business. We will fund any dividends to our stockholders by causing Virtu Financial to make distributions to its equityholders, including the Founder Post-IPO Member, the Silver Lake
Post-IPO Members, Virtu Employee Holdco and us, subject to the limitations imposed by our credit agreement. See "Dividend Policy." </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
holders of Virtu Financial Units will generally incur U.S. federal, state and local income taxes on their proportionate share of any net taxable income of Virtu Financial. Net
profits and net losses of Virtu Financial will generally be allocated to its members pro rata in accordance with the percentages of their respective ownership of Virtu Financial Units, though certain
non-pro rata adjustments will be made to reflect tax depreciation, amortization and other allocations. The Amended and Restated Virtu Financial&nbsp;LLC Agreement will provide for cash distributions
to the holders of Virtu Financial Units for purposes of funding their tax obligations in respect of the taxable income of Virtu Financial that is allocated to them. Generally, these tax distributions
will be computed based on Virtu Financial's estimate of the net taxable income of Virtu Financial allocable to each holder of Virtu Financial Units multiplied by an assumed tax rate equal to the
highest effective marginal combined U.S. federal, state and local income tax rate prescribed for an individual or corporate resident in New York, New York (taking into account the non-deductibility of
certain expenses and the character of our income). </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Amended and Restated Virtu Financial&nbsp;LLC Agreement will provide that, except as otherwise determined by us, if at any time we issue a share of our Class&nbsp;A common stock
or Class&nbsp;B common stock, other than pursuant to an issuance and distribution to holders of shares of our common stock of rights to purchase our equity securities under a "poison pill" or
similar shareholders rights plan or pursuant to an employee benefit plan, the net proceeds received by us with respect to such share, if any, shall be concurrently invested in Virtu Financial (unless
such shares were issued by us solely to fund (i)&nbsp;our ongoing operations or pay our expenses or other obligations or (ii)&nbsp;the purchase from a member of Virtu Financial of Virtu Financial
Units (in which cash such net proceeds shall instead be transferred to the selling member as consideration for such purchase)) and Virtu Financial shall issue to us one Virtu Financial Unit.
Similarly, except as otherwise determined by us, Virtu Financial will not issue any additional Virtu Financial Units to us unless we issue or sell an equal number of shares of our Class&nbsp;A
common stock or Class&nbsp;B common stock. Conversely, if at any time any shares of our Class&nbsp;A common stock or Class&nbsp;B common stock are redeemed, repurchased or otherwise acquired,
Virtu Financial will redeem, repurchase or otherwise acquire an equal number of Virtu Financial Units held by us, upon the same terms and for the same price per security, as the shares of our
Class&nbsp;A common stock or Class&nbsp;B common stock are redeemed, repurchased or otherwise acquired. In addition, Virtu Financial will not effect any subdivision (by any unit split, unit
distribution, reclassification, reorganization, recapitalization or otherwise) or combination (by reverse unit split, reclassification, reorganization, recapitalization or otherwise) of the Virtu
Financial Units unless it is accompanied by substantively identical subdivision or combination, as applicable, of each class of our common stock, and we will not
effect any subdivision or combination of any class of our common stock unless it is accompanied by a substantively identical subdivision or combination, as applicable, of the Virtu Financial Units. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the terms of the Amended and Restated Virtu Financial&nbsp;LLC Agreement, certain members of management of Virtu Financial, including Messrs.&nbsp;Viola and Cifu, will
be subject to non-compete and non-solicitation obligations until the third anniversary of the date on which such person ceases to be an officer, director or employee of ours. The employee members of
Virtu </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>147</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=152,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=750405,FOLIO='147',FILE='DISK108:[13ZDI1.13ZDI16701]DW16701A.;167',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_dw16701_1_148"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>Employee
Holdco will be subject to similar restrictions under the limited liability company agreements of Virtu Employee Holdco. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to certain exceptions, Virtu Financial will indemnify all of its members, including the Founder Post-IPO Member, the Silver Lake Post-IPO Members, Virtu Employee Holdco and us,
and their officers and other related parties, including the Temasek Post-IPO Stockholder, against all losses or expenses arising from claims or other legal proceedings in which such person (in its
capacity as such) may be involved or become subject to in connection with Virtu Financial's business or affairs or the Amended and Restated Virtu Financial&nbsp;LLC Agreement or any related
document. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu
Financial may be dissolved only upon the first to occur of (i)&nbsp;the sale of substantially all of its assets or (ii)&nbsp;as determined by us. Upon dissolution, Virtu
Financial will be liquidated and the proceeds from any liquidation will be applied and distributed in the following manner: (a)&nbsp;first, to creditors (including creditors who are members or
affiliates of members) in satisfaction of all of Virtu Financial's liabilities (whether by payment or by making reasonable provision for payment of such liabilities, including the setting up of any
reasonably necessary reserves) and (b)&nbsp;second, to the members in proportion to their vested Virtu Financial Units (after giving effect to any obligations of Virtu Financial to make tax
distributions). </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Exchange Agreement  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At the closing of this offering, we will enter into an Exchange Agreement (the "Exchange Agreement") with Virtu Financial and each of
the Virtu Post-IPO Members, including the Founder Post-IPO Member, the Silver Lake Post-IPO Members and Virtu Employee Holdco, pursuant to which they (or certain transferees thereof) will have the
right to
exchange their Virtu Financial Units (along with the corresponding shares of our Class&nbsp;C common stock or Class&nbsp;D common stock, as applicable) for shares of our Class&nbsp;A common
stock or Class&nbsp;B common stock, as applicable, on a one-for-one basis, subject to customary conversion rate adjustments for stock splits, stock dividends and reclassifications. Upon exchange,
each share of our Class&nbsp;C common stock or Class&nbsp;D common stock will be cancelled. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Exchange Agreement provides that, in the event that a tender offer, share exchange offer, issuer bid, take-over bid, recapitalization or similar transaction with respect to our
Class&nbsp;A common stock is proposed by us or our stockholders and approved by our board of directors or is otherwise consented to or approved by our board of directors, the Virtu Post-IPO Members
will be permitted to participate in such offer by delivery of a notice of exchange that is effective immediately prior to the consummation of such offer. In the case of any such offer proposed by us,
we are obligated to use our reasonable best efforts to enable and permit the Virtu Post-IPO Members to participate in such offer to the same extent or on an economically equivalent basis as the
holders of shares of our Class&nbsp;A common stock without discrimination. In addition, we are obligated to use our reasonable best efforts to ensure that the Virtu Post-IPO Members may participate
in each such offer without being required to exchange Virtu Financial Units and shares of our Class&nbsp;C common stock or Class&nbsp;D common stock. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Exchange Agreement also provides that, in the event of a merger, consolidation or other business combination involving our Company (unless, following such transaction, all or
substantially all of the holders of the voting power of us prior to such transaction continue to hold a majority of the voting power of the surviving entity (or its parent) in substantially the same
proportions as immediately prior to such transaction) is approved by our board of directors and consummated in accordance with applicable law, we may require that each of the Virtu Post-IPO Members
exchange with us all of such Virtu Post-IPO Member's Virtu Financial Units and shares of our Class&nbsp;C common stock or Class&nbsp;D common stock, as applicable, for aggregate consideration for
each Virtu </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>148</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=153,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=471269,FOLIO='148',FILE='DISK108:[13ZDI1.13ZDI16701]DW16701A.;167',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_dw16701_1_149"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>Financial
Unit and share of our Class&nbsp;C common stock or Class&nbsp;D common stock, as applicable, that is equivalent to the consideration payable in respect of each share of our
Class&nbsp;A common stock in such transaction. Such Virtu Post-IPO Members are not required to participate in such a transaction that is tax-free for our stockholders unless the transaction is also
tax-free for such Virtu Post-IPO Members as holders of Virtu Financial Units and shares of our Class&nbsp;C common stock or Class&nbsp;D common stock, as applicable. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> Stockholders Agreement  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to the consummation of this offering, we will enter into a Stockholders Agreement (the "Stockholders Agreement") with the
Founder Post-IPO Member and the Silver Lake Equityholders. Under the Stockholders Agreement, the Silver Lake Equityholders will be entitled to nominate one Class&nbsp;III director for election to
our board of directors so long as affiliates of Silver Lake Partners continue to own at least 30% of the Class&nbsp;A common stock held by affiliates of Silver Lake Partners immediately prior to
this offering (calculated assuming that all of their Virtu Financial Units and corresponding shares of Class&nbsp;C common stock are exchanged for Class&nbsp;A common stock). If the Silver Lake
Equityholders no longer own such interest in us, they will, upon the request of our board of directors, agree to cause their nominee to resign from the board of directors. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr.&nbsp;Viola
and the Founder Post-IPO Member will agree to take all necessary action, including voting their respective shares of common stock, to cause the election of the director
nominated by the Silver Lake Equityholders in accordance with the terms of the Stockholders Agreement. Further, Mr.&nbsp;Viola and the Founder Post-IPO Member will agree, for so long as the Silver
Lake Equityholders are entitled to nominate a director, to take all necessary action, including voting their respective shares of common stock, to ensure that the provisions in respect of corporate
opportunities and director and officer indemnification, exculpation and advancement of expenses set forth in our certificate of incorporation and by-laws are not amended, modified or supplemented in
any manner without the Silver Lake Equityholders' prior written consent. To the extent Mr.&nbsp;Viola or a Founder Post-IPO Member transfer any of their respective shares to an affiliated
transferee, that transferee would also be bound by the terms of the Stockholders Agreement. To the extent that the Silver Lake Equityholders are no longer entitled to nominate a board member, our
board of directors, upon the recommendation of the Nominating and Corporate Governance Committee, will nominate a director in their place. The Silver Lake Equityholders' initial nominee for our board
of directors is Michael Bingle, who will be a Class&nbsp;III Director. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Stockholders Agreement also provides for the reimbursement of Mr.&nbsp;Viola's, the Founder Post-IPO Member's and the Silver Lake Equityholders' out-of-pocket expenses incurred or
accrued in connection with the reorganization transactions and this offering (other than taxes and underwriting discounts and commissions), up to a maximum amount of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for
Mr.&nbsp;Viola and the Founder Post-IPO Member and $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for the Silver Lake Equityholders.


</FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Registration Rights Agreement  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to the consummation of this offering, we will enter into a Registration Rights Agreement (the "Registration Rights Agreement")
with each of the Virtu Post-IPO
Members, including the Founder Post-IPO Member, the Silver Lake Post-IPO Members, the Investor Post-IPO Stockholders and Virtu Employee Holdco. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
any time beginning 180&nbsp;days following the closing of this offering, subject to several exceptions, including underwriter cutbacks and our right to defer a demand registration
under certain circumstances, the Founder Post-IPO Member, the Silver Lake Equityholders and the Temasek Post-IPO Stockholder may require that we register for public resale under the Securities Act all
shares of common stock constituting registrable securities that they request be registered at </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>149</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=154,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=840398,FOLIO='149',FILE='DISK108:[13ZDI1.13ZDI16701]DW16701A.;167',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_dw16701_1_150"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>any
time following this offering so long as the securities requested to be registered in each registration statement have an aggregate estimated market value of least $50&nbsp;million. Under the
Registration Rights Agreement, we will not be obligated to effectuate more than seven demand registrations for the Founder Post-IPO Member, or more than two demand registrations for the Silver Lake
Equityholders or more than two demand registrations for the Temasek Post-IPO Stockholder. If we become eligible to register the sale of our securities on Form&nbsp;S-3 under the Securities Act,
which will not be until at least 12&nbsp;months after the date of this prospectus, the Founder Post-IPO Member, the Silver Lake Equityholders and the Temasek Post-IPO Stockholder have the right to
require us to register the sale of the registrable securities held by them on Form&nbsp;S-3, subject to offering size and other restrictions. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the Founder Post-IPO Member, the Silver Lake Equityholders or the Temasek Post-IPO Stockholder make a request for registration, the non-requesting parties to the Registration Rights
Agreement will be entitled to customary piggyback registration rights in connection with the request, and if the request is for an underwritten offering, such piggyback registration rights will be
subject to underwriter cutback provisions, with priority first for registration of shares going first to the Founder Post-IPO Member, the Silver Lake Equityholders and the Temasek Post-IPO Stockholder
on a pro rata basis (provided that (a)&nbsp;for one year after the completion of this offering, such priority will be allocated 75% to the Silver Lake Equityholders and the Temasek Post-IPO
Stockholder (to be allocated 45% to the Silver Lake Equityholders and 30% to the Temasek Post-IPO Stockholder if they both elect to have their securities included in such registration) and 25% to the
Founder Post-IPO Member until any of the Silver Lake Equityholders, the Temasek Post-IPO Stockholder or the Founder Post-IPO Member have included all their securities sought to be included in such
registration and (b)&nbsp;from the one year anniversary of the completion of this offering until three demand registrations have been completed, such priority will be allocated 50% to the Silver
Lake Equityholders and the Temasek Post-IPO Stockholder (to be allocated 30% to the Silver Lake Equityholders and 20% to the Temasek Post-IPO Stockholder if they both elect to have their securities
included in such registration) and 50% to the Founder Post-IPO Member until any of the Silver Lake Equityholders, the Temasek Post-IPO Stockholder or the Founder Post-IPO Member have included all
their securities sought to be included in such registration), second to the other parties with piggyback registration rights under the Registration Rights Agreement and third to other persons with a
contractual right to include securities in the registration. In addition, the parties to the Registration Rights Agreement will be entitled to piggyback registration rights with respect to
any registration initiated by us or another stockholder, and if any such registration is in the form of an underwritten offering, such piggyback registration rights will be subject to customary
cutback provisions, with priority for registration of shares going first to us or such other stockholder, as applicable, second to the Founder Post-IPO Member, the Silver Lake Equityholders and the
Temasek Post-IPO Stockholder as described above, third to the other parties, if any, with piggyback registration rights under the Registration Rights Agreement and fourth to other persons with a
contractual right to include securities in the registration. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, we will undertake in the Registration Rights Agreement to file&nbsp;a registration statement as soon as we become eligible to register the sale of our securities on
Form&nbsp;S-3 under the Securities Act and to use commercially reasonable efforts to have the registration statement declared effective as soon as practicable and to remain effective in order to
register the shares of Class&nbsp;A common stock issuable upon the exchange of Virtu Financial Units, together with shares of Class&nbsp;C common stock, by Virtu Employee Holdco, certain other
Virtu Post-IPO Members, including Mr.&nbsp;Cifu, and certain transferees thereof from time to time. For so long as any such registration statement is effective and usable, neither Virtu Employee
Holdco nor transferee thereof will have the piggyback registration rights described in the immediately preceding paragraph. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>150</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=155,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=615496,FOLIO='150',FILE='DISK108:[13ZDI1.13ZDI16701]DW16701A.;167',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_dy16701_1_151"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->




<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


 </FONT> <FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the transfer of their registrable securities, the parties to the Registration Rights Agreement may assign certain of their respective rights
under the Registration Rights Agreement under certain circumstances. In connection with the registrations described above, we will indemnify any selling stockholders and we will bear all fees, costs
and expenses (except underwriting commissions and discounts and fees and expenses of financial advisors of the selling stockholders and their internal and similar costs). </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> Tax Receivable Agreements  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the reorganization transactions, we will acquire equity interests in Virtu Financial from an affiliate of Silver
Lake Partners and Temasek, and the Temasek Pre-IPO Member in the Mergers. In addition, as described under "Use of Proceeds," we intend to use a portion of the net proceeds from this offering to
purchase Virtu Financial Units and corresponding shares of common stock from certain Virtu Post-IPO Members. These purchases will result in favorable tax basis adjustments to the assets of Virtu
Financial that will be allocated to us and our subsidiaries. In addition, future exchanges by the Virtu Post-IPO Members of Virtu Financial Units and corresponding shares of Class&nbsp;C common
stock or Class&nbsp;D common stock, as the case may be, for shares of our Class&nbsp;A common stock or Class&nbsp;B common stock, respectively, are expected to produce favorable tax attributes.
These tax attributes would not be available to us in
the absence of those transactions. Both the existing and anticipated tax basis adjustments are expected to reduce the amount of tax that we would otherwise be required to pay in the future. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
intend to enter into three tax receivable agreements with the Virtu Post-IPO Members and the Investor Post-IPO Stockholders (one with the Founder Post-IPO Member, Virtu Employee
Holdco, the Management Members and other post-IPO investors, another with the Investor Post-IPO Stockholders and the other with the Silver Lake Post-IPO Members) that will provide for the payment by
us to the Virtu Post-IPO Members and the Investor Post-IPO Stockholders (or their transferees of Virtu Financial Units or other assignees) of 85% of the amount of cash savings, if any, in U.S.
federal, state and local income tax or franchise tax that we actually realize as a result of (i)&nbsp;any increase in tax basis in Virtu Financial's assets resulting from (a)&nbsp;the acquisition
of equity interests in Virtu Financial from an affiliate of Silver Lake Partners and Temasek, and the Temasek Pre-IPO Member in the reorganization transactions (which represents the unamortized
portion of the increase in tax basis in Virtu Financial's assets resulting from a prior acquisition of interests in Virtu Financial by an affiliate of Silver Lake Partners and Temasek, and the Temasek
Pre-IPO Member, (b)&nbsp;the purchases of Virtu Financial Units (along with the corresponding shares of our Class&nbsp;C common stock or Class&nbsp;D common stock, as applicable) from certain of
the Virtu Post-IPO Members using a portion of the net proceeds from this offering or in any future offering, (c)&nbsp;exchanges by the Virtu Post-IPO Members of Virtu Financial Units (together with
the corresponding shares of our Class&nbsp;C common stock or Class&nbsp;D common stock, as applicable) for shares of our Class&nbsp;A common stock or Class&nbsp;B common stock, as applicable,
or (d)&nbsp;payments under the tax receivable agreements, (ii)&nbsp;any net operating losses available to us as a result of the Mergers and (iii)&nbsp;tax benefits related to imputed interest
deemed arising as a result of payments made under the tax receivable agreements. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
actual increase in tax basis, as well as the amount and timing of any payments under these agreements, will vary depending upon a number of factors, including the timing of
exchanges by the Virtu Post-IPO Members, the price of our Class&nbsp;A common stock at the time of the exchange, the extent to which such exchanges are taxable, the amount and timing of the taxable
income we generate in the future and the tax rate then applicable and the portion of our payments under the tax receivable agreements constituting imputed interest. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
payments we will be required to make under the tax receivable agreements could be substantial. We expect that, as a result of the amount of the increases in the tax basis of the
tangible and intangible assets of Virtu Financial, assuming no material changes in the relevant tax </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>151</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=156,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=320678,FOLIO='151',FILE='DISK108:[13ZDI1.13ZDI16701]DY16701A.;124',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_dy16701_1_152"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>law
and that we earn sufficient taxable income to realize in full the potential tax benefit described above, future payments to the Virtu Post-IPO Members and the Investor Post-IPO Stockholders in
respect of the purchases, the exchanges and the Mergers will aggregate to approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and range from approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per year over the next
15&nbsp;years (or approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in the aggregate, ranging from approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per year over the next 15&nbsp;years if
the underwriters
exercise their option to purchase additional shares in full). Future payments under the tax receivable agreements in respect of subsequent exchanges would be in addition to these amounts and are
expected to be substantial. The payments under the tax receivable agreements are not conditioned upon the Virtu Post-IPO Members' or the Investor Post-IPO Stockholders' continued ownership of us. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, although we are not aware of any issue that would cause the IRS to challenge the tax basis increases or other benefits arising under the tax receivable agreements, the
Virtu Post-IPO Members and the Investor Post-IPO Stockholders (or their transferees or other assignees) will not reimburse us for any payments previously made if such tax basis increases or other tax
benefits are subsequently disallowed, except that any excess payments made to the Virtu Post-IPO Members and the Investor Post-IPO Stockholders will be netted against future payments otherwise to be
made under the tax receivable agreements, if any, after our determination of such excess. As a result, in such circumstances we could make payments to the Virtu Post-IPO Members and the Investor
Post-IPO Stockholders under the tax receivable agreements that are greater than our actual cash tax savings and may not be able to recoup those payments, which could negatively impact our liquidity. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, the tax receivable agreements provide that, upon certain mergers, asset sales or other forms of business combination or certain other changes of control, our or our
successor's obligations with respect to tax benefits would be based on certain assumptions, including that we or our successor would have sufficient taxable income to fully utilize the benefits
arising from the increased tax deductions and tax basis and other benefits covered by the tax receivable agreements. As a result, upon a change of control, we could be required to make payments under
a tax receivable agreement that are greater than or less than the specified percentage of our actual cash tax savings, which could negatively impact our liquidity. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, the tax receivable agreements will provide that in the case of a change in control of the Company, the Virtu Post-IPO Members and the Investor Post-IPO Stockholders will
have the option to terminate the applicable tax receivable agreement, and we will be required to make a payment to such electing party in an amount equal to the present value of future payments
(calculated using a discount rate equal to the lesser of 6.5% or LIBOR plus 100&nbsp;basis points, which may differ from our, or a potential acquirer's, then-current cost of capital) under the tax
receivable agreement, which payment would be based on certain assumptions, including those relating to our future taxable income. In these situations, our obligations under the tax receivable
agreements could have a substantial negative impact on our, or a potential acquirer's, liquidity and could have the effect of delaying, deferring, modifying or preventing certain mergers, asset sales,
other forms of business combinations or other changes of control. These provisions of the tax receivable agreements may result in situations where the Virtu Post-IPO Members and the Investor Post-IPO
Stockholders have interests that differ from or are in addition to those of our other shareholders. In addition, we could be required to make payments under the tax receivable agreements that are
substantial and in excess of our, or a potential acquirer's, actual cash savings in income tax. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Finally,
because we are a holding company with no operations of our own, our ability to make payments under the tax receivable agreements are dependent on the ability of our
subsidiaries to
make distributions to us. Our credit agreement restricts the ability of our subsidiaries to make distributions to us, which could affect our ability to make payments under the tax receivable </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>152</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=157,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=454811,FOLIO='152',FILE='DISK108:[13ZDI1.13ZDI16701]DY16701A.;124',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_dy16701_1_153"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>agreements.
To the extent that we are unable to make payments under the tax receivable agreements for any reason, such payments will be deferred and will accrue interest until paid. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> Unit Vesting, Equity Retention and Restrictive Covenant Agreements  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the reorganization transactions and this offering, we expect to issue stock options, with respect to shares of
Class&nbsp;A common stock, to certain of our direct and indirect employee equityholders and other employees pursuant to our 2015 Management Incentive Plan (such grants, "IPO grants"). We also intend
to offer certain of our direct and indirect employee equityholders and other employees, including Messrs.&nbsp;Cifu, Molluso and Palaparthi, the ability to sell to us, in connection with this
offering, pre-IPO equity interests in our Company ("pre-IPO equity") representing up to 15% of his or her pre-IPO equity (calculated based on the amount of pre-IPO equity that would be owned assuming
an initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated public offering price range set forth on the cover page of this prospectus)), to the extent such pre-IPO
equity has vested. See "&nbsp;&#151; Purchases from Equityholders." </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, we have entered into Unit Vesting, Equity Retention and Restrictive Covenant Agreements ("equity retention agreements") with certain of our direct and indirect employee
equityholders and other employees, including Messrs. Viola, Cifu, Molluso and Palaparthi (collectively, the "equity restricted employees"), pursuant to which each equity restricted employee
may:</FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>upon the consummation of this offering, sell to us up to 15% of his or her pre-IPO equity (calculated based on the amount
of pre-IPO equity that would be owned assuming an initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated public offering price range set forth on the cover page of
this prospectus)), to the extent such pre-IPO equity has vested; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>on and after the first anniversary of the consummation of this offering, sell up to a cumulative 30% of his or her pre-IPO
equity, to the extent such pre-IPO equity has vested; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>on and after the second anniversary of the consummation of this offering, sell up to a cumulative 45% of his or her
pre-IPO equity, to the extent such pre-IPO equity has vested; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>on and after the third anniversary of the consummation of this offering, sell up to a cumulative 60% of his or her pre-IPO
equity, to the extent such pre-IPO equity has vested; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>on and after the fourth anniversary of the consummation of this offering, sell up to a cumulative 75% of his or her
pre-IPO equity, to the extent such pre-IPO equity has vested; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>on and after the fifth anniversary of the consummation of this offering, sell up to a cumulative 90% of his or her pre-IPO
equity, to the extent such pre-IPO equity has vested; and</FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>on and after the sixth anniversary of the consummation of this offering, sell any of his or her remaining pre-IPO equity,
to the extent such pre-IPO equity has vested, without being subject to any further equity retention restrictions. </FONT></DD></DL>
</UL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition to the equity retention restrictions described above, in each equity retention agreement the applicable equity restricted employee will acknowledge that he or she remains
subject to the following existing restrictive covenants until the third anniversary of the date his or her employment with us is terminated, in each case subject to certain exceptions as set forth in
the </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>153</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=158,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=964893,FOLIO='153',FILE='DISK108:[13ZDI1.13ZDI16701]DY16701A.;124',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_dy16701_1_154"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>Amended
and Restated Virtu Financial LLC Agreement or the Amended and Restated Limited Liability Company Agreement of Virtu Employee Holdco:</FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the equity restricted employee will not directly or indirectly engage in certain competitive activities; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the equity restricted employee will not solicit, or assist any other person to solicit, as an employee or a consultant,
any employee or former employee, or certain equityholders, of ours; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the equity restricted employee will not hire, or assist any other person to hire, as an employee or a consultant, any
employee or former employee, or certain equityholders, of ours; and</FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the equity restricted employee will not take any action or make any public statement that disparages or denigrates our
Company or our directors, officers, employees, equityholders, representatives or agents. </FONT></DD></DL>
</UL>

<P style="font-family:arial;"><FONT SIZE=2><B> Indemnification Agreements  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We expect to enter into an indemnification agreement with each of our executive officers and directors that provides, in general, that
we will indemnify them to the fullest extent permitted by law in connection with their service to us or on our behalf. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Other Transactions  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the reorganization transactions, we, Virtu Financial, two of our wholly owned subsidiaries, the Temasek Post-IPO
Stockholder and the Temasek Pre-IPO Member expect to enter into a merger agreement, which provides for the reimbursement of Temasek's out-of-pocket expenses incurred or accrued in connection with the
reorganization transactions and this offering (other than taxes and underwriting discounts and commissions), up to a maximum amount of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
employ the son of Mr.&nbsp;Viola, our Founder and Executive Chairman, as a trader, and he received total compensation from us for the years ended 2014, 2013 and 2012 of $554,747
(which consisted of $410,000 in cash and Class&nbsp;A-2 profits interests having a fair market value of $144,747), $510,703 (which consisted of $410,000 in cash and Class&nbsp;A-2 profits
interests having a fair market value of $100,703) and $636,006 (which consisted of $510,000 in cash and Class A-2 profits interests having a fair market value of $126,066, respectively. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
have engaged Mr.&nbsp;Abizaid to provide leadership consulting services from time to time. Mr.&nbsp;Abizaid received total compensation from us pursuant to such engagement for
the years ended 2014, 2013 and 2012 of $127,250, $210,584 and&nbsp;$87,000, respectively. See "Executive Compensation&nbsp;&#151; Compensation of our Directors." </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
have entered into certain futures clearing transactions with Pioneer Futures,&nbsp;Inc., a futures commission merchant owned by the Founder Post-IPO Member, in the ordinary course
of business. In December&nbsp;2013, TJMT Holdings&nbsp;LLC disposed of its interests in Pioneer Futures,&nbsp;Inc. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> Related Party Transactions Policies and Procedures  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the consummation of this offering, we will adopt a written Related Person Transaction Policy (the "policy"), which will set forth
our policy with respect to the review, approval, ratification and disclosure of all related person transactions by our Audit Committee. In accordance with the policy, our Audit Committee will have
overall responsibility for implementation of and compliance with the policy. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>154</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=159,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=576347,FOLIO='154',FILE='DISK108:[13ZDI1.13ZDI16701]DY16701A.;124',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_dy16701_1_155"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
purposes of the policy, a "related person transaction" is a transaction, arrangement or relationship (or any series of similar transactions, arrangements or relationships) in which
we were, are or will be a participant and the amount involved exceeded, exceeds or will exceed $120,000 and in which any related person (as defined in the policy) had, has or will have a direct or
indirect material interest. A "related person transaction" does not include any employment relationship or transaction involving an executive officer and any related compensation resulting solely from
that employment relationship that has been reviewed and approved by our board of directors or Compensation Committee. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
policy will require that notice of a proposed related person transaction be provided to our legal department prior to entry into such transaction. If our legal department determines
that such transaction is a related person transaction, the proposed transaction will be submitted to our Audit Committee for consideration at its next meeting. Under the policy, our Audit Committee
may approve only those related person transactions that are in, or not inconsistent with, our best interests. In the event that we become aware of a related person transaction that has not been
previously reviewed, approved or ratified under the policy and that is ongoing or is completed, the transaction will be submitted to the Audit Committee so that it may determine whether to ratify,
rescind or terminate the related person transaction. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
policy will also provide that the Audit Committee review certain previously approved or ratified related person transactions that are ongoing to determine whether the related person
transaction remains in our best interests and the best interests of our stockholders. Additionally, we will make periodic inquiries of directors and executive officers with respect to any potential
related person transaction of which they may be a party or of which they may be aware. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>155</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=160,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=16917,FOLIO='155',FILE='DISK108:[13ZDI1.13ZDI16701]DY16701A.;124',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_ea16701_1_156"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="ea16701_description_of_capital_stock"> </A>
<A NAME="toc_ea16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  DESCRIPTION OF CAPITAL STOCK    <BR>    </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> Capital Stock  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the reorganization transactions, we expect to amend and restate our certificate of incorporation so that our
authorized capital stock will consist of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock, par value
$0.00001 per share,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;B common stock, par value $0.00001
per share,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;C common stock, par value $0.00001 per share,
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;D common stock, par value $0.00001 per share,
and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
shares of preferred stock, par value $0.00001 per share. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Immediately
following the reorganization transactions, we will have approximately&nbsp;&nbsp;holder of record of our Class&nbsp;A common stock, no holders of record of our
Class&nbsp;B common stock,&nbsp;&nbsp;&nbsp;&nbsp;holders of record of our Class&nbsp;C common stock, one holder of record of our Class&nbsp;D common stock and no holders of record of our preferred
stock. Of the authorized shares of our capital stock, based on an assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated public offering price range set
forth on the cover page of this prospectus),&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our Class&nbsp;A common stock will be
issued and outstanding, no shares of our Class&nbsp;B common stock will be issued and
outstanding,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our Class&nbsp;C common stock will be issued and outstanding,
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our Class&nbsp;D common stock will be issued and outstanding and no
shares of our preferred stock will be issued and outstanding. In addition, we expect to issue stock options and restricted stock units with respect to an aggregate amount
of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of
Class&nbsp;A common stock in connection with this offering under the 2015 Management Incentive Plan. See "Executive Compensation&nbsp;&#151;&nbsp;2015 Management Incentive Plan." </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After the consummation of this offering and the application of the net proceeds from this offering, based on an assumed initial public offering price of
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the
midpoint of the estimated public offering price range set forth on the cover page of this prospectus), we expect to
have&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our Class&nbsp;A common stock outstanding (or
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares if the underwriters' option to purchase additional shares is exercised in full), no shares of our Class&nbsp;B
common stock outstanding,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our
Class&nbsp;C common stock outstanding (or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares if the underwriters' option to purchase additional shares is exercised
in full and giving effect to the use of the net proceeds
therefrom),&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our Class&nbsp;D common stock outstanding
(or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares if the underwriters' option to purchase additional shares is exercised in full and giving
effect to the use of the net proceeds therefrom) and no shares of our preferred stock outstanding.

</FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Common Stock  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> Voting  </I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The holders of our Class&nbsp;A common stock, Class&nbsp;B common stock, Class&nbsp;C common stock and Class&nbsp;D common
stock will vote together as a single class on all matters submitted to stockholders for their vote or approval, except (i)&nbsp;as required by applicable law or (ii)&nbsp;any amendment (including
by merger, consolidation, reorganization or similar event) to our certificate of incorporation that would affect the rights of the Class&nbsp;A common stock and the Class&nbsp;C common stock in a
manner that is disproportionately adverse as compared to the Class&nbsp;B common stock or Class&nbsp;D common stock, or vice versa, in which case the holders of Class&nbsp;A common stock and
Class&nbsp;C common stock or the holders of Class&nbsp;B common stock and Class&nbsp;D common stock, as applicable, shall vote together as a class. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Holders
of our Class&nbsp;A common stock and Class&nbsp;C common stock are entitled to one vote on all matters submitted to stockholders for their vote or approval. Holders of our
Class&nbsp;B common stock and Class&nbsp;D common stock are entitled to ten votes on all matters submitted to stockholders for their vote or approval. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>156</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=161,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=380143,FOLIO='156',FILE='DISK108:[13ZDI1.13ZDI16701]EA16701A.;75',USER='AGAETZ',CD='23-MAR-2015;11:28' -->
<A NAME="page_ea16701_1_157"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on an assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated public offering price range
set forth on the cover page of this
prospectus), upon the completion of this offering, the Founder Post-IPO Member will control approximately&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the combined voting power of our common stock
(or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% if the
underwriters' option to purchase additional shares is exercised in full and giving effect to the use of the net proceeds therefrom) as a result of their ownership of our Class&nbsp;D common stock.
Accordingly, the Founder Post-IPO Member will control our business policies and affairs and can control any action requiring the general approval of our stockholders, including the election of our
board or directors, the adoption of amendments to our certificate of incorporation and by-laws and the approval of any merger or sale of substantially all of our assets. The Founder Post-IPO Member
will continue to have such control as long as it owns at least 25% of our issued and outstanding common stock. This concentration of ownership and voting power may also delay, defer or even prevent an
acquisition by a third party or other change of control of our Company and may make some transactions more difficult or impossible without the support of the Founder Post-IPO Member, even if such
events are in the best interests of minority stockholders.

 </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> Dividends  </I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The holders of Class&nbsp;A common stock and Class&nbsp;B common stock are entitled to receive dividends when, as and if declared
by our board of directors out of legally available funds. Under our amended and restated certificate of incorporation, dividends may not be declared or paid in respect of Class&nbsp;B common stock
unless they are declared or paid in the same amount in respect of Class&nbsp;A common stock, and vice versa. With respect to stock dividends, holders of Class&nbsp;B common stock must receive
Class&nbsp;B common stock while holders of Class&nbsp;A common stock must receive Class&nbsp;A common stock. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
holders of our Class&nbsp;C common stock and Class&nbsp;D common stock will not have any right to receive dividends other than dividends consisting of shares of our
(i)&nbsp;Class&nbsp;C common stock, paid proportionally with respect to each outstanding share of our Class&nbsp;C common stock, and (ii)&nbsp;Class&nbsp;D
common stock, paid proportionally with respect to each outstanding share of our Class&nbsp;D common stock, in each case in connection with stock dividends. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> Merger, Consolidation, Tender or Exchange Offer  </I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The holders of Class&nbsp;B common stock and Class&nbsp;D common stock will not be entitled to receive economic consideration for
their shares in excess of that payable to the holders of Class&nbsp;A common stock and Class&nbsp;C common stock, respectively, in the event of a merger, consolidation or other business
combination requiring the approval of our stockholders or a tender or exchange offer to acquire any shares of our common stock. However, in any such event involving consideration in the form of
securities, the holders of Class&nbsp;B common stock and Class&nbsp;D common stock will be entitled to receive securities that have no more than ten times the voting power of any securities
distributed to the holders of Class&nbsp;A common stock and Class&nbsp;C common stock. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> Liquidation or Dissolution  </I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon our liquidation or dissolution, the holders of our Class&nbsp;A common stock and Class&nbsp;B common stock will be entitled
to share ratably in those of our assets that are legally available for distribution to stockholders after payment of liabilities and subject to the prior rights of any holders of preferred stock then
outstanding. Other than their par value, the holders of our Class&nbsp;C common stock and Class&nbsp;D common stock will not have any right to receive a distribution upon a liquidation or
dissolution of our company. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>157</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=162,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=796491,FOLIO='157',FILE='DISK108:[13ZDI1.13ZDI16701]EA16701A.;75',USER='AGAETZ',CD='23-MAR-2015;11:28' -->
<A NAME="page_ea16701_1_158"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> Conversion, Transferability and Exchange  </I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our amended and restated certificate of incorporation will provide that each share of our Class&nbsp;B common stock is convertible
at any time, at the option of the holder, into one share of Class&nbsp;A common stock, and each share of our Class&nbsp;D common stock is convertible at
any time, at the option of the holder, into one share of Class&nbsp;C common stock. Our amended and restated certificate of incorporation will further provide that each share of our Class&nbsp;B
common stock will automatically convert into one share of Class&nbsp;A common stock, and each share of our Class&nbsp;D common stock will automatically convert into one share of our Class&nbsp;C
common stock, (a)&nbsp;immediately prior to any sale or other transfer of such share by the Founder Post-IPO Member or any of its affiliates or permitted transferees (collectively, "Founder
Equityholders"), subject to certain limited exceptions, such as transfers to permitted transferees, or (b)&nbsp;if Founder Equityholders own less than 25% of our issued and outstanding common stock.
Shares of our Class&nbsp;A common stock and Class&nbsp;C common stock are not subject to any conversion right. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under
our amended and restated certificate of incorporation, "permitted transferees" of the Founder Post-IPO Member will include (i)&nbsp;Vincent Viola or any of his immediate family
members (which would include parents, grandparents, lineal descendants, siblings of such person or such person's spouse, and lineal descendants of siblings of such person or such person's spouse) or
any trust, family-partnership or estate-planning vehicle so long as Mr.&nbsp;Viola and/or his immediate family members are the sole economic beneficiaries thereof, (ii)&nbsp;any corporation,
limited liability company, partnership or other entity of which all of the economic beneficial ownership thereof belongs to Mr.&nbsp;Viola, his immediate family members or any trust,
family-partnership or estate-planning vehicle whose economic beneficiaries consist solely of Mr.&nbsp;Viola and/or his immediate family members, (iii)&nbsp;a charitable institution controlled by
Mr.&nbsp;Viola and/or his immediate family members, (iv)&nbsp;an individual mandated under a qualified domestic relations order and (v)&nbsp;a legal or personal representative of
Mr.&nbsp;Viola and/or his immediate family members in the event of death or disability. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Among
other exceptions described in our amended and restated certificate of incorporation, the Founder Equityholders will be permitted to pledge shares of Class&nbsp;D common stock
and/or Class&nbsp;B common stock that they hold from time to time without causing an automatic conversion to Class&nbsp;C common stock or Class&nbsp;A common stock, as applicable, provided that
any pledged shares are not transferred to or registered in the name of the pledgee. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to the terms of the Exchange Agreement (i)&nbsp;the Founder Post-IPO Member may exchange its Virtu Financial Units (and corresponding shares of our Class&nbsp;D common stock
or, after the Triggering Event (defined as the point in time when the Founder Equityholders no longer beneficially own shares representing 25% of our issued and outstanding common stock),
Class&nbsp;C common stock) for shares of our Class&nbsp;B common stock (or, after the Triggering Event, Class&nbsp;A common stock) and (ii)&nbsp;the other Virtu Post-IPO Members may exchange
their vested Virtu Financial Units (and corresponding shares of our Class&nbsp;C common stock) for shares of our Class&nbsp;A common stock. Each such exchange will be on a one-for-one basis,
subject to customary conversion rate adjustments for stock splits, stock dividends and reclassifications. Upon exchange, each share of our Class&nbsp;C common stock or Class&nbsp;D common stock so
exchanged will be cancelled. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> Other Provisions  </I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None of the Class&nbsp;A common stock, Class&nbsp;B common stock, Class&nbsp;C common stock or Class&nbsp;D common stock has
any pre-emptive or other subscription rights. There will be no redemption or sinking fund provisions applicable to the Class&nbsp;A common stock, Class&nbsp;B common stock, Class&nbsp;C common
stock or Class&nbsp;D common stock. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>158</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=163,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=965484,FOLIO='158',FILE='DISK108:[13ZDI1.13ZDI16701]EA16701A.;75',USER='AGAETZ',CD='23-MAR-2015;11:28' -->
<A NAME="page_ea16701_1_159"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
such time as no Virtu Financial Units remain exchangeable for shares of our Class&nbsp;A common stock, our Class&nbsp;C common stock will be cancelled. At such time as no Virtu
Financial Units remain exchangeable for shares of our Class&nbsp;B common stock, our Class&nbsp;D common stock will be cancelled. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Preferred Stock  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After the consummation of this offering, we will be authorized to issue up
to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of preferred stock. Our board of
directors will be authorized, subject to limitations prescribed by Delaware law and our amended and restated certificate of incorporation, to determine the terms and conditions of the preferred stock,
including whether the shares of preferred stock will be issued in one or more series, the number of shares to be included in each series and the powers, designations, preferences and rights of the
shares. Our board of directors also will be authorized to designate any qualifications, limitations or restrictions on the shares without any further vote or action by the stockholders. The issuance
of preferred stock may have the effect of delaying, deferring or preventing a change in control of our Company and may adversely affect the voting and other rights of the holders of our Class&nbsp;A
common stock, Class&nbsp;B common stock, Class&nbsp;C common stock and Class&nbsp;D common stock, which could have a negative impact on the market price of our Class&nbsp;A common stock. We
have no current plan to issue any shares of preferred stock following the consummation of this offering. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Corporate Opportunity  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our amended and restated certificate of incorporation will provide that, to the fullest extent permitted by law, the doctrine of
"corporate opportunity" will not apply against the Founder Post-IPO Member, Mr.&nbsp;Viola, the Silver Lake Equityholders, the Temasek Post-IPO Stockholder, any of our non-employee directors or any
of their respective affiliates in a manner that would prohibit them from investing in competing businesses or doing business with our clients or customers. In addition, subject to the restrictions on
competitive activities described below, Mr.&nbsp;Cifu will be permitted to become engaged in, or provide services to, any other business or activity in which Mr.&nbsp;Viola is currently engaged or
permitted to become engaged, to the extent that Mr.&nbsp;Cifu's level of participation in such businesses or activities is consistent with his current participation in such businesses and
activities. The Amended and Restated Virtu Financial&nbsp;LLC Agreement will provide that Mr.&nbsp;Viola, in addition to our other executive officers and our employees that are Virtu Post-IPO
Members, may not directly or indirectly engage in certain competitive activities until the third anniversary of the date on which such person ceases to be an officer, director or employee of ours. The
Silver Lake Equityholders, the Temasek Post-IPO Stockholder, and our non-employee directors are not subject to any such restriction. See "Risk Factors&nbsp;&#151; Risks Related to this
Offering and Our Class&nbsp;A common stock&nbsp;&#151; We are controlled by the Founder Post-IPO Member, whose interests in our business may be different than yours, and certain statutory
provisions afforded to stockholders are not applicable to us," and "Certain Relationships and Related Party Transactions&nbsp;&#151; Amended and Restated Virtu Financial Limited Liability
Company Agreement." </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Certain Certificate of Incorporation, By-Law and Statutory Provisions  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The provisions of our amended and restated certificate of incorporation and by-laws and of the Delaware General Corporation Law
summarized below may have an anti-takeover effect and may delay, defer or prevent a tender offer or takeover attempt that you might consider in your best interest, including an attempt that might
result in your receipt of a premium over the market price for your shares of Class&nbsp;A common stock. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>159</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=164,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=613406,FOLIO='159',FILE='DISK108:[13ZDI1.13ZDI16701]EA16701A.;75',USER='AGAETZ',CD='23-MAR-2015;11:28' -->
<A NAME="page_ea16701_1_160"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Anti-Takeover Effects of Our Amended and Restated Certificate of Incorporation and By-laws  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our amended and restated certificate of incorporation and by-laws will contain certain provisions that are intended to enhance the
likelihood of continuity and stability in the composition of our board of directors and that may have the effect of delaying, deferring or preventing a future takeover or change in control of our
Company unless such takeover or change in control is approved by our board of directors. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These
provisions include: </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Classified Board.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Our amended and restated certificate of incorporation will provide that our board of directors will be
divided into three classes
of directors, with the classes as nearly equal in number as possible. As a result, approximately one-third of our board of directors will be elected each year. The classification of directors will
have the effect of making it more difficult for stockholders to change the composition of our board. Our amended and restated certificate of incorporation will also provide that, subject to any rights
of holders of preferred stock to elect additional directors under specified circumstances, the number of directors will be fixed exclusively pursuant to a resolution adopted by our board of directors.
Our board of directors will initially have six members. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, our amended and restated certificate of incorporation will provide that, following the Triggering Event (defined as the point in time when Founder Equityholders no longer
beneficially own shares representing 25% of our issued and outstanding common stock), other than preferred stock directors and subject to obtaining any required stockholder votes or consents under the
Stockholders Agreement, directors may only be removed for cause and by the affirmative vote of holders of 75% of the total voting power of our outstanding shares of common stock, voting together as a
single class. This requirement of a super-majority vote to remove directors for cause could enable a minority of our stockholders to exercise veto power over any such removal. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Action by Written Consent; Special Meetings of Stockholders.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Our amended and restated certificate of incorporation will
provide that, following the
Triggering Event, stockholder action can be taken only at an annual or special meeting of stockholders and cannot be taken by written consent in lieu of a meeting. Our amended and restated certificate
of incorporation and by-laws will also provide that, subject to any special rights of the holders of any series of preferred stock and except as otherwise required by law, special meetings of the
stockholders can only be called by the chairman or vice chairman of the board or the chief executive officer, or pursuant to a resolution adopted by a majority of the board of directors or, until the
Triggering Event, at the request of holders of a majority of the total voting power of our outstanding shares of common stock, voting together as a
single class. Except as described above, stockholders are not permitted to call a special meeting or to require the board of directors to call a special meeting. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advance Notice Procedures.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Our amended and restated by-laws will establish an advance notice procedure for stockholder
proposals to be brought
before an annual meeting of our stockholders, including proposed nominations of persons for election to the board of directors. Stockholders at an annual meeting will only be able to consider
proposals or nominations specified in the notice of meeting or brought before the meeting by or at the direction of the board of directors or by a stockholder who was a stockholder of record on the
record date for the meeting, who is entitled to vote at the meeting and who has given our Secretary timely written notice, in proper form, of the stockholder's intention to bring that business before
the meeting. Although the by-laws will not give our board of directors the power to approve or disapprove stockholder nominations of candidates or proposals regarding other business to be conducted at
a special or annual meeting, the by-laws may have the effect of precluding the conduct of certain business at a meeting if the proper procedures are not followed or may discourage or deter a potential
acquirer </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>160</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=165,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=354561,FOLIO='160',FILE='DISK108:[13ZDI1.13ZDI16701]EA16701A.;75',USER='AGAETZ',CD='23-MAR-2015;11:28' -->
<A NAME="page_ea16701_1_161"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>from
conducting a solicitation of proxies to elect its own slate of directors or otherwise attempting to obtain control of our Company. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Super-Majority Approval Requirements.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Delaware General Corporation Law generally provides that the affirmative vote of
the holders of a majority
of the total voting power of the shares entitled to vote on any matter is required to amend a corporation's certificate of incorporation or by-laws, unless either a corporation's certificate of
incorporation or by-laws require a greater percentage. Our amended and restated certificate of incorporation and by-laws will provide that, following the Triggering Event, the affirmative vote of
holders of 75% of the total voting power of our outstanding common stock eligible to vote in the election of directors, voting together as a single class, will be required to amend, alter, change or
repeal specified provisions, including those relating to the classified board, actions by written consent of stockholders, calling of special meetings of stockholders, business combinations and
amendment of our amended and restated certificate of incorporation and by-laws. This requirement of a super-majority vote to approve amendments to our amended and restated certificate of incorporation
and by-laws could enable a minority of our stockholders to exercise veto power over any such amendments. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Authorized but Unissued Shares.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Our authorized but unissued shares of common stock and
preferred stock will be available for future issuance without stockholder approval. These additional shares may be utilized for a variety of corporate purposes, including future public offerings to
raise additional capital, corporate acquisitions and employee benefit plans. The existence of authorized but unissued shares of common stock and preferred stock could render more difficult or
discourage an attempt to obtain control of a majority of our common stock by means of a proxy contest, tender offer, merger or otherwise. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Business Combinations with Interested Stockholders.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Our amended and restated certificate of incorporation will provide that
we are not subject to
Section&nbsp;203 of the Delaware General Corporation Law, an antitakeover law. In general, Section&nbsp;203 prohibits a publicly held Delaware corporation from engaging in a business combination,
such as a merger, with a person or group owning 15% or more of the corporation's voting stock for a period of three years following the date the person became an interested stockholder, unless (with
certain exceptions) the business combination or the transaction in which the person became an interested stockholder is approved in a prescribed manner. Accordingly, we are not be subject to any
anti-takeover effects of Section&nbsp;203. Nevertheless, our amended and restated certificate of incorporation will contain provisions that have the same effect as Section&nbsp;203, except that
they will provide that the Founder Post-IPO Member, the Silver Lake Equityholders and the Temasek Post-IPO Stockholder, their respective affiliates and successors and their transferees will not be
deemed to be "interested stockholders," regardless of the percentage of our voting stock owned by them, and accordingly will not be subject to such restrictions. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Directors' Liability; Indemnification of Directors and Officers  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our amended and restated certificate of incorporation will limit the liability of our directors to the fullest extent permitted by the
Delaware General Corporation Law and provides that we will provide them with customary indemnification. We expect to enter into customary indemnification agreements with each of our executive officers
and directors that provide them, in general, with customary indemnification in connection with their service to us or on our behalf. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> Transfer Agent and Registrar  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The transfer agent and registrar for our Class&nbsp;A common stock will be American Stock Transfer &amp; Trust Company, LLC. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Securities Exchange  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We intend to list our Class&nbsp;A common stock on NASDAQ under the symbol "VIRT." </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>161</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=166,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=954976,FOLIO='161',FILE='DISK108:[13ZDI1.13ZDI16701]EA16701A.;75',USER='AGAETZ',CD='23-MAR-2015;11:28' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_ec16701_1_162"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="ec16701_shares_available_for_future_sale"> </A>
<A NAME="toc_ec16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  SHARES AVAILABLE FOR FUTURE SALE    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to this offering, there has been no public market for our Class&nbsp;A common stock. We cannot make any prediction as to the
effect, if any, that sales of Class&nbsp;A common stock or the availability of Class&nbsp;A common stock for future sales will have on the market price of our Class&nbsp;A common stock. The
market price of our Class&nbsp;A common stock could decline because of the sale of a large number of shares of our Class&nbsp;A common stock or the perception that such sales could occur in the
future. These factors could also make it more difficult to raise funds through future offerings of Class&nbsp;A common stock. See "Risk Factors&nbsp;&#151; Risks Related to this Offering
and Our Class&nbsp;A Common Stock&nbsp;&#151; Substantial future sales of shares of our Class&nbsp;A common stock in the public market could cause our stock price to fall." </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Sale of Restricted Shares  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the consummation of this offering, we will
have&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock
(or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares
if the underwriters exercise their option to purchase additional shares in full) outstanding,
excluding&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock underlying outstanding options or
restricted stock units. Of these shares, the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares sold in this offering
(or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares if the underwriters exercise their option to purchase additional shares in full)
will be freely tradable without further restriction under the Securities Act, except any shares held by our affiliates, as that term is defined in Rule&nbsp;144 under the Securities Act. In the
absence of registration under the Securities Act, shares held by affiliates may only be sold in compliance with the limitations of Rule&nbsp;144 described below or another exemption from the
registration requirements of the Securities Act. As defined in Rule&nbsp;144, an affiliate of an issuer is a person that directly, or indirectly through one or more intermediaries, controls, is
controlled by or is under common control with the issuer. Upon the completion of this offering,
approximately&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;of our outstanding shares of Class&nbsp;A common stock (or
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares if the underwriters' exercise their option to purchase additional shares in full) will
be deemed "restricted securities," as that term is defined under Rule&nbsp;144, and
would also be subject to the "lock-up" period noted below. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, based on an assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated
public offering price range set forth on the cover page of
this prospectus), upon consummation of the offering, the Virtu Post-IPO Members will own an aggregate
of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu Financial Units
and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our Class&nbsp;C common
stock and Class&nbsp;D common stock (or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu Financial Units
and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;C common stock and Class&nbsp;D common stock if the underwriters'
exercise
their option to purchase additional shares in full and giving effect to the use of the net proceeds therefrom). Pursuant to the terms of the Exchange Agreement, the Founder Post-IPO Member could from
time to time exchange its Virtu Financial Units (and corresponding shares of Class&nbsp;D common stock) for shares of our Class&nbsp;B common stock on a one-for-one basis, and the other Virtu
Post-IPO Members could from time to time exchange their Virtu Financial Units (and corresponding shares of our Class&nbsp;C common stock) for shares of our Class&nbsp;A common stock on a
one-for-one basis. In addition, our amended and restated certificate of incorporation will provide that each share of our Class&nbsp;B common stock is convertible at any time, at the option of the
holder, into one share of Class&nbsp;A common stock. Shares of our Class&nbsp;A common stock issuable to the Virtu Post-IPO Members upon an exchange of Virtu Financial Units (and corresponding
shares of our Class&nbsp;C common stock) or upon conversion of shares of Class&nbsp;B common stock would be considered "restricted securities," as that term is defined under Rule&nbsp;144 and
would also be subject to the "lock-up" period noted below.


</FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restricted
securities may be sold in the public market only if they qualify for an exemption from registration under Rule&nbsp;144 under the Securities Act, which is summarized below,
or any other applicable exemption under the Securities Act, or pursuant to a registration statement that is </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>162</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=167,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=8804,FOLIO='162',FILE='DISK108:[13ZDI1.13ZDI16701]EC16701A.;71',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_ec16701_1_163"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>effective
under the Securities Act. Immediately following the consummation of this offering, the holders of
approximately&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our Class&nbsp;A common stock
(or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
shares if the underwriters exercise their option to purchase additional shares in full) (on an assumed as-exchanged basis) will be entitled to dispose of their shares following the expiration of an
initial 180-day underwriter "lock-up" period pursuant to the holding period, volume and other restrictions of Rule&nbsp;144. The representatives of the underwriters are entitled to waive these
lock-up provisions at their discretion prior to the expiration dates of such lock-up agreements. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Rule&nbsp;144  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In general, pursuant to Rule&nbsp;144 under the Securities Act, a person (or persons whose shares are aggregated) who is not deemed
to have been an affiliate of ours at any time during the three months preceding a sale, and who has beneficially owned restricted securities within the meaning of Rule&nbsp;144 for at least six
months (including any period of consecutive ownership of preceding non-affiliated holders) would be entitled to sell those shares, subject only to the availability of current public information about
us. A non-affiliated person who has beneficially owned restricted securities within the meaning of Rule&nbsp;144 for at least one year would be entitled to sell those shares without regard to the
provisions of Rule&nbsp;144. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
person (or persons whose shares are aggregated) who is deemed to be an affiliate of ours and who has beneficially owned restricted securities within the meaning of Rule&nbsp;144 for
at least six months would be entitled to sell within any three-month period a number of shares that does not exceed the greater of one percent of the then outstanding shares of our Class&nbsp;A
common stock or the average weekly trading volume of our Class&nbsp;A common stock during the four calendar weeks preceding such sale. Such sales are also subject to certain manner of sale
provisions, notice requirements and the availability of current public information about us. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Options/Equity Awards  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We intend to file&nbsp;a registration statement under the Securities Act to register
approximately&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of
Class&nbsp;A common stock reserved for issuance or sale under our 2015 Management Incentive Plan. We expect to grant options to
purchase&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of our Class&nbsp;A common stock
under our 2015 Management Incentive Plan in connection with this offering. Shares issued upon the exercise of stock options that vest after the effective date of the registration statement will be
eligible for resale in the public market without restriction, subject to Rule&nbsp;144
limitations applicable to affiliates and the lock-up agreements and equity retention agreements described below. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> Lock-Up Agreements  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our executive officers, directors, the Founder Post-IPO Member, the Silver Lake Equityholders, the Temasek Post-IPO Stockholder and
certain of our other stockholders have agreed that, for a period of 180&nbsp;days from the date of this prospectus, they will not, without the prior written consent of the representatives of the
underwriters, dispose of or hedge any shares of our Class&nbsp;A common stock or any securities convertible into or exchangeable for our Class&nbsp;A common stock (including Virtu Financial Units)
subject to certain exceptions. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
described under "Underwriting&nbsp;&#151; Directed Share Program," any participants in the directed share program shall be subject to a 180-day lock-up. This lock-up will
have similar restrictions and exceptions as the lock-up agreement described above. Any shares sold in the directed share program to our executive officers, directors, the Founder Post-IPO Member, the
Silver Lake Equityholders, the Temasek Post-IPO Stockholder and certain of our other stockholders shall be subject to the lock-up agreement described above. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Immediately
following the consummation of this offering, based on an assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated public offering
price range set forth on the cover page of this prospectus), stockholders subject to lock-up agreements will hold </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>163</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=168,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=231826,FOLIO='163',FILE='DISK108:[13ZDI1.13ZDI16701]EC16701A.;71',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_ec16701_1_164"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<BR>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares
of our Class&nbsp;A common stock (assuming the Virtu Post-IPO Members exchange all their Virtu Financial Units (and corresponding shares of our Class&nbsp;C common stock or
Class&nbsp;D common stock, as applicable) for shares of our Class&nbsp;A common stock or Class&nbsp;B common stock, as applicable, and the conversion of all Class&nbsp;B common stock into
Class&nbsp;A common stock), representing approximately&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of our then-outstanding shares of Class&nbsp;A common stock
(or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock,
representing approximately&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of our then-outstanding shares of Class&nbsp;A common stock, if the underwriters exercise their option to purchase additional shares in full).
</FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
have agreed, subject to certain exceptions, not to issue, sell or otherwise dispose of any shares of our Class&nbsp;A common stock or any securities convertible into or
exchangeable for our Class&nbsp;A common stock (including Virtu Financial Units) during the 180-day period following the date of this prospectus. We may, however, grant options to purchase shares of
Class&nbsp;A common stock and issue shares of Class&nbsp;A common stock upon the exercise of outstanding options under our Existing Equity Incentive Plan, and we may issue or sell Class&nbsp;A
common stock in connection with an acquisition or business combination (subject to a specified maximum amount) as long as the
acquirer of such Class&nbsp;A common stock agrees in writing to be bound by the obligations and restrictions of our lock-up agreement. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Equity Retention Agreements  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the reorganization transactions and this offering, we intend to enter into the equity retention agreements with the
equity restricted employees, including Messrs.&nbsp;Viola, Cifu, Molluso and Palaparthi, pursuant to which each equity restricted employee may:</FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>upon the consummation of this offering, sell to us pre-IPO equity representing up to 15% of his or her pre-IPO equity
(calculated based on the amount of pre-IPO equity that would be owned assuming an initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated public offering
price range
set forth on the cover page of this prospectus)), to the extent such pre-IPO equity has vested; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>on and after the first anniversary of the consummation of this offering, sell up to a cumulative 30% of his or her pre-IPO
equity, to the extent such pre-IPO equity has vested; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>on and after the second anniversary of the consummation of this offering, sell up to a cumulative 45% of his or her
pre-IPO equity, to the extent such pre-IPO equity has vested; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>on and after the third anniversary of the consummation of this offering, sell up to a cumulative 60% of his or her pre-IPO
equity, to the extent such pre-IPO equity has vested; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>on and after the fourth anniversary of the consummation of this offering, sell up to a cumulative 75% of his or her
pre-IPO equity, to the extent such pre-IPO equity has vested; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>on and after the fifth anniversary of the consummation of this offering, sell up to a cumulative 90% of his or her pre-IPO
equity, to the extent such pre-IPO equity has vested; and</FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>on and after the sixth anniversary of the consummation of this offering, sell any of his or her remaining pre-IPO equity,
to the extent such pre-IPO equity has vested, without being subject to any further equity retention restrictions. </FONT></DD></DL>
</UL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
more information, see "Certain Relationships and Related Party Transactions&nbsp;&#151; Unit Vesting, Equity Retention and Restrictive Covenant Agreements." </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Registration Rights  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Registration Rights Agreement grants registration rights to the Founder Post-IPO Member, the Silver Lake Equityholders, the
Temasek Post-IPO Stockholder and the other Virtu Post-IPO Members. For more information, see "Certain Relationships and Related Party Transactions&nbsp;&#151; Registration Rights Agreement." </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>164</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=169,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=483551,FOLIO='164',FILE='DISK108:[13ZDI1.13ZDI16701]EC16701A.;71',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_ee16701_1_165"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="ee16701_material_u.s._federal_tax_considerations"> </A>
<A NAME="toc_ee16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  MATERIAL U.S. FEDERAL TAX CONSIDERATIONS    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to the limitations and qualifications set forth herein (including Exhibit&nbsp;8.1 hereto), the following discussion of
material U.S. federal income tax considerations is the opinion of Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison&nbsp;LLP, our special U.S. federal income tax counsel, insofar as it expresses
conclusions as to the application of U.S. federal income tax law. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Non-U.S. Holders  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This summary assumes that our Class&nbsp;A common stock is held as a capital asset (generally, for investment). For purposes of this
discussion, a Non-U.S. Holder is a beneficial owner of our Class&nbsp;A common stock that is treated for U.S. federal tax purposes as:</FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>a non-resident alien individual; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>a corporation (or other entity treated as a corporation for U.S. federal income tax purposes) created or organized under
the laws of a jurisdiction other than the U.S. or any state or political subdivision thereof; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>an estate, other than an estate the income of which is subject to U.S. federal income taxation regardless of its source;
or</FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>a trust, other than a trust that (i)&nbsp;is subject to the primary supervision of a court within the U.S. and which has
one or more U.S. fiduciaries who have the authority to control all substantial decisions of the trust, or (ii)&nbsp;has a valid election in effect under applicable U.S. Treasury regulations to be
treated as a U.S. person. </FONT></DD></DL>
</UL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
purposes of this discussion, a Non-U.S. Holder does not include a partnership (including for this purpose any entity that is treated as a partnership for U.S. federal income tax
purposes). If a partnership or other pass-through entity is a beneficial owner of our Class&nbsp;A common stock, the tax treatment of a partner or other owner will generally depend upon the status
of the partner (or other owner) and the activities of the entity. If you are a partner (or other owner) of a pass-through entity that acquires our Class&nbsp;A common stock, you should consult your
tax advisor regarding the tax consequences of acquiring, owning and disposing of our Class&nbsp;A common stock. Also, it is important to note that the rules for determining whether an individual is
a non-resident alien for income tax purposes differ from those applicable for estate tax purposes. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
discussion is not a complete analysis or listing of all of the possible tax consequences of such transactions and does not address all tax considerations that might be relevant to
a Non-U.S. Holder in light of its particular circumstances or to Non-U.S. Holders that may be subject to special treatment under U.S. federal tax laws. Furthermore, this summary does not address
estate and gift tax consequences, the Medicare contribution or net investment tax or tax consequences under any state, local or foreign laws. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following discussion is based upon the Code, U.S. judicial decisions, administrative pronouncements and existing and proposed Treasury regulations, all as in effect as of the date
hereof. All of the preceding authorities are subject to change, possibly with retroactive effect, so as to result in U.S. federal income tax consequences different from those discussed below. We have
not requested, and will not request, a ruling from the IRS with respect to any of the U.S. federal income tax consequences described below. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>The following discussion is for general information only and is not intended to be, nor should it be construed to be, legal or tax advice to any holder or
prospective holder of our Class&nbsp;A common stock and no opinion or representation with respect to the U.S. federal income tax consequences to any such holder or prospective holder is made.
Prospective purchasers are urged to consult their tax advisors as to the particular consequences to them  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>165</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=170,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=235019,FOLIO='165',FILE='DISK108:[13ZDI1.13ZDI16701]EE16701A.;59',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_ee16701_1_166"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> under U.S. federal, state and local, and applicable foreign tax laws of the acquisition, ownership and disposition of our Class&nbsp;A common stock.</B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Distributions  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Distributions of cash or property that we pay in respect of our Class&nbsp;A common stock will constitute dividends for U.S. federal
income tax purposes to the extent paid from our current or accumulated earnings and profits (as determined under U.S. federal income tax principles). Except as described below under
"&nbsp;&#151; U.S. Trade or Business Income," a Non-U.S. Holder generally will be subject to U.S. federal withholding tax at a 30% rate, or at a reduced rate prescribed by an applicable
income tax treaty, on any dividends received in respect of our Class&nbsp;A common stock. If the amount of the distribution exceeds our current and accumulated earnings and profits, such excess
first will be treated as a return of capital to the extent of the Non-U.S. Holder's tax basis in our Class&nbsp;A common stock, and thereafter will be treated as capital gain. However, except to the
extent that we elect (or the paying agent or other intermediary through which a Non-U.S. Holder holds our Class&nbsp;A common stock elects) otherwise, we (or the intermediary) must generally
withhold on the entire distribution, in which case the Non-U.S. Holder would be entitled to a refund from the IRS for the withholding tax on the portion of the distribution that exceeded our current
and accumulated earnings and profits. In order to obtain a reduced rate of U.S. federal withholding tax under an applicable income tax treaty, a Non-U.S. Holder will be required to provide a properly
executed IRS Form&nbsp;W-8BEN (or IRS Form&nbsp;W-8BEN-E or successor form) certifying such stockholder's entitlement to benefits under the treaty. If a Non-U.S. Holder is eligible for a reduced
rate of U.S. federal withholding tax under an income tax treaty, the Non-U.S. Holder may obtain a refund or credit of any excess amounts withheld by filing an appropriate claim for a refund with the
IRS. Non-U.S. Holders are urged to consult their own tax advisors regarding possible entitlement to benefits under an income tax treaty. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I> Sale, Exchange or Other Taxable Disposition of our Class&nbsp;A Common Stock  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as described below under "&nbsp;&#151; Information Reporting and Backup Withholding Tax," and "&nbsp;&#151;
FATCA," a Non-U.S. Holder generally will not be subject to U.S. federal income or withholding tax in respect of any gain on a sale, exchange or other disposition of our Class&nbsp;A common stock
unless:</FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the gain is U.S. trade or business income, in which case, such gain will be taxed as described in "&nbsp;&#151;
U.S. Trade or Business Income," below; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the Non-U.S. Holder is an individual who is present in the U.S. for 183 or more days in the taxable year of the
disposition and certain other conditions are met, in which case the Non-U.S. Holder will be subject to U.S. federal income tax at a rate of 30% (or a reduced rate under an applicable tax treaty) on
the amount by which certain capital gains allocable to U.S. sources exceed certain capital losses allocable to U.S. sources; or</FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>we are or have been a "U.S. real property holding corporation" (a "USRPHC") under section&nbsp;897 of the Code at any
time during the period (the "applicable period") that is the shorter of the five-year period ending on the date of the disposition and the Non-US. Holder's holding period for our Class&nbsp;A common
stock, in which case, subject to the exception set forth in the second sentence of the next paragraph, such gain will be subject to U.S. federal income tax in the same manner as U.S. trade or business
income. </FONT></DD></DL>
</UL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
general, a corporation is a USRPHC if the fair market value of its "U.S. real property interests" equals or exceeds 50% of the sum of the fair market value of its worldwide real
property interests and its other assets used or held for use in a trade or business. In the event that we are determined to be a USRPHC, gain will not be subject to tax as U.S. trade or business
income </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>166</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=171,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=547059,FOLIO='166',FILE='DISK108:[13ZDI1.13ZDI16701]EE16701A.;59',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_ee16701_1_167"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>under
section&nbsp;897 of the Code if a Non-U.S. Holder's holdings (direct and indirect) at all times during the applicable period constituted 5% or less of our Class&nbsp;A common stock, provided
that our Class&nbsp;A common stock was regularly traded on an established securities market during such period. We believe that we are not currently, and we do not anticipate becoming in the future,
a USRPHC for U.S. federal income tax purposes. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I> U.S. Trade or Business Income  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For purposes of this discussion, dividend income and gain on the sale, exchange or other taxable disposition of our Class&nbsp;A
common stock will be considered to be "U.S. trade or business income" if (A)&nbsp;(i) such income or gain is effectively connected with the conduct of a trade or business within the U.S. by the
Non-U.S. Holder and (ii)&nbsp;if the Non-U.S. Holder is eligible for the benefits of an income tax treaty with the U.S., such income or gain is attributable to a permanent establishment (or, in the
case of an individual, a fixed base) that the Non-U.S. Holder maintains in the U.S. or (B)&nbsp;we are or have been a USRPHC at any time during the applicable period (subject to the exception set
forth above in the second paragraph of "&nbsp;&#151; Sale, Exchange or Other Taxable Disposition of our Class&nbsp;A Common Stock"). Generally, U.S. trade or business income is not subject
to U.S. federal withholding tax (provided certain certification and disclosure requirements are satisfied, including providing a properly executed IRS Form&nbsp;W-8ECI (or successor form)); instead,
such income is subject to U.S. federal income tax on a net basis at regular U.S. federal income tax rates (in the same manner as a U.S. person). Any U.S. trade or business income received by a foreign
corporation may also be subject to a "branch profits tax" at a 30% rate, or at a lower rate prescribed by an applicable income tax treaty. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I> Information Reporting and Backup Withholding Tax  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We must annually report to the IRS and to each Non-U.S. Holder any dividend income that is subject to U.S. federal withholding tax, or
that is exempt from such withholding pursuant to an income tax treaty. Copies of these information returns may also be made available under the provisions of a specific treaty or agreement to the tax
authorities of the country in which a Non-U.S. Holder resides. Under certain circumstances, the Code imposes a backup withholding obligation on certain reportable payments. Dividends paid to a
Non-U.S. Holder of our Class&nbsp;A common stock will generally be exempt from backup withholding if the Non-U.S. Holder provides a properly executed IRS Form&nbsp;W-8BEN (or IRS
Form&nbsp;W-8BEN-E or successor form) or otherwise establishes an exemption and the applicable withholding agent does not have actual
knowledge or reason to know that the stockholder is a U.S. person or that the conditions of such other exemption are not, in fact, satisfied. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
payment of the proceeds from the disposition of our Class&nbsp;A common stock to or through the U.S. office of any broker (U.S. or non-U.S.) will be subject to information
reporting and possible backup withholding unless the stockholder certifies as to such stockholder's non-U.S. status under penalties of perjury or otherwise establishes an exemption and the broker does
not have actual knowledge or reason to know that the stockholder is a U.S. person or that the conditions of any other exemption are not, in fact, satisfied. The payment of proceeds from the
disposition of our Class&nbsp;A common stock to or through a non-U.S. office of a non-U.S. broker will not be subject to information reporting or backup withholding unless the non-U.S. broker has
certain types of relationships with the U.S. (a "U.S. related financial intermediary"). In the case of the payment of proceeds from the disposition of our Class&nbsp;A common stock to or through a
non-U.S. office of a broker that is either a U.S. person or a U.S. related financial intermediary, the Treasury regulations require information reporting (but not backup withholding) on the payment
unless the broker has documentary evidence in its files that the beneficial owner is a Non-U.S. Holder and the broker has no knowledge to the contrary. Holders of our Class&nbsp;A common stock are
urged to consult their tax </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>167</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=172,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=179685,FOLIO='167',FILE='DISK108:[13ZDI1.13ZDI16701]EE16701A.;59',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_ee16701_1_168"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>advisor
on the application of information reporting and backup withholding in light of their particular circumstances. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Backup
withholding is not an additional tax. Any amounts withheld under the backup withholding rules from a payment to a stockholder will be refunded or credited against such
stockholder's U.S. federal income tax liability, if any, provided that the required information is timely furnished to the IRS. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><I> FATCA  </I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the Foreign Account Tax Compliance Act, or "FATCA," foreign financial institutions (which include most foreign hedge
funds, private equity funds, mutual funds, securitization vehicles and any other investment vehicles) and certain other foreign entities must comply with information reporting rules with respect to
their U.S. account holders and investors or confront a withholding tax on U.S. source payments made to them (whether received as a beneficial owner or as an intermediary for another party). More
specifically, a foreign financial institution or other foreign entity that does not comply with the FATCA reporting requirements will generally be subject to a 30% withholding tax with respect to any
"withholdable payments." For this
purpose, withholdable payments include generally U.S.-source payments otherwise subject to nonresident withholding tax (e.g.,&nbsp;U.S.-source dividends) and also include the entire gross proceeds
from the sale or other disposition of any equity or debt instruments of U.S. issuers. The FATCA withholding tax will apply even if the payment would otherwise not be subject to U.S. nonresident
withholding tax (e.g.,&nbsp;because it is capital gain). Administrative guidance from the IRS defers this withholding obligation until January&nbsp;1, 2017 for gross proceeds from dispositions of
U.S. common stock. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-U.S.
Holders are urged to consult with their own tax advisors regarding the effect, if any, of the FATCA provisions to them based on their particular circumstances. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Company Tax Attribute Considerations  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the reorganization transactions, we will acquire equity interests in Virtu Financial from an affiliate of Silver
Lake Partners and Temasek, and the Temasek Pre-IPO Member in the Mergers. In addition, as described under "Use of Proceeds," we intend to use a portion of the net proceeds from this offering to
purchase Virtu Financial Units and corresponding shares of common stock from certain Virtu Post-IPO Members. These purchases will result in favorable tax basis adjustments to the assets of Virtu
Financial that will be allocated to us and our subsidiaries. In addition, future exchanges by the Virtu Post-IPO Members of Virtu Financial Units and corresponding shares of Class&nbsp;C common
stock or Class&nbsp;D common stock, as the case may be, for shares of our Class&nbsp;A common stock or Class&nbsp;B common stock, respectively, are expected to produce favorable tax attributes.
These tax attributes would not be available to us in the absence of those transactions. Both the existing and anticipated tax basis adjustments are expected to reduce the amount of tax that we would
otherwise be required to pay in the future. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
described elsewhere in this prospectus, we intend to enter into three tax receivable agreements with the Virtu Post-IPO Members and the Investor Post-IPO Stockholders that will
provide for the payment by us to the Virtu Post-IPO Members and the Investor Post-IPO Stockholders (or their transferees of Virtu Financial Units or other assignees) of 85% of the amount of cash
savings, if any, in U.S. federal, state and local income tax or franchise tax that we actually realize as a result of (i)&nbsp;any increase in tax basis in Virtu Financial's assets resulting from
(a)&nbsp;the acquisition of equity interests in Virtu Financial from an affiliate of Silver Lake Partners and Temasek, and the Temasek Pre-IPO Member in the reorganization transactions (which
represents the unamortized portion of the increase in tax basis in Virtu Financial's assets resulting from a prior acquisition of interests in Virtu Financial by an affiliate of Silver Lake Partners
and Temasek, and the </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>168</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=173,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=277876,FOLIO='168',FILE='DISK108:[13ZDI1.13ZDI16701]EE16701A.;59',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<A NAME="page_ee16701_1_169"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>Temasek
Pre-IPO Member), (b)&nbsp;the purchases of Virtu Financial Units (along with the corresponding shares of our Class&nbsp;C common stock or Class&nbsp;D common stock, as applicable) from
certain of the Virtu Post-IPO Members using a portion of the net proceeds from this offering or in any future offering, (c)&nbsp;exchanges by the Virtu Post-IPO Members of Virtu Financial Units
(together with the corresponding shares of our Class&nbsp;C common stock or Class&nbsp;D common stock, as applicable) for shares of our Class&nbsp;A common stock or Class&nbsp;B common stock,
as applicable, or (d)&nbsp;payments under the tax receivable agreements, (ii)&nbsp;any net operating losses available to us as a result of the Mergers and (iii)&nbsp;tax benefits related to
imputed interest deemed arising as a result of payments made under the tax receivable agreements. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
actual increase in tax basis, as well as the amount and timing of any payments under these agreements is uncertain and will vary depending upon a number of factors, including the
timing of exchanges by the Virtu Post-IPO Members, the price of our Class&nbsp;A common stock at the time of the exchange, the extent to which such exchanges are taxable, the amount and timing of
the taxable income we generate in the future and the tax rate then applicable and the portion of our payments under the tax receivable agreements constituting imputed interest. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, although we are not aware of any issue that would cause the IRS to challenge the tax basis increases or other benefits arising under the tax receivable agreements, the
Virtu Post-IPO Members and the Investor Post-IPO Stockholders (or their transferees or other assignees) will not reimburse us for any payments previously made if such tax basis increases or other tax
benefits are subsequently disallowed, except that any excess payments made to the Virtu Post-IPO Members and the Investor Post-IPO Stockholders will be netted against future payments otherwise to be
made under the tax receivable agreements, if any, after our determination of such excess. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>169</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=174,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=291970,FOLIO='169',FILE='DISK108:[13ZDI1.13ZDI16701]EE16701A.;59',USER='CHE105483',CD='20-MAR-2015;01:26' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_eg16701_1_170"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="eg16701_underwriting"> </A>
<A NAME="toc_eg16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  UNDERWRITING    <BR>    </B></FONT></P>

<P style="font-family:arial;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We and the underwriters named below have entered into an underwriting agreement with respect to the shares of Class&nbsp;A common
stock being offered. Subject to certain conditions, each underwriter has severally agreed to purchase the number of shares indicated in the following table. Goldman, Sachs&nbsp;&amp;&nbsp;Co.,
J.P.&nbsp;Morgan Securities&nbsp;LLC and Sandler O'Neill&nbsp;&amp; Partners,&nbsp;L.P. are the representatives of the underwriters. Goldman, Sachs&nbsp;&amp;&nbsp;Co., J.P. Morgan
Securities&nbsp;LLC, Sandler O'Neill&nbsp;&amp; Partners,&nbsp;L.P., BMO Capital Markets Corp., Citigroup Global Markets&nbsp;Inc., Credit Suisse Securities (USA)&nbsp;LLC, Evercore
Group&nbsp;L.L.C. and UBS Securities&nbsp;LLC are acting as joint bookrunners for this offering.

</FONT>

</P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->


<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="63pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:62pt;"><FONT SIZE=2><B>Underwriters

<!-- COMMAND=ADD_SCROPPEDRULE,62pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:47pt;"><FONT SIZE=2><B>Number<BR>
of Shares

<!-- COMMAND=ADD_SCROPPEDRULE,47pt -->

 </B></FONT></DIV></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2> Goldman, Sachs&nbsp;&amp;&nbsp;Co.&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>J.P.&nbsp;Morgan Securities&nbsp;LLC</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Sandler O'Neill&nbsp;&amp; Partners,&nbsp;L.P.&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>BMO Capital Markets Corp.&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Citigroup Global Markets&nbsp;Inc.&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Credit Suisse Securities (USA)&nbsp;LLC</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Evercore Group L.L.C.</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>UBS Securities&nbsp;LLC</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Academy Securities, Inc.&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>CIBC World Markets Corp.&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Rosenblatt Securities Inc.&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
</TR>
</TABLE></DIV>

<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
underwriters are committed to take and pay for all of the shares being offered, if any are taken, other than the shares covered by the option to purchase additional shares described
below, unless and until such option is exercised. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
underwriters have an option to purchase up to an additional&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock from us to cover sales by the underwriters of a greater number of
shares than the total number set forth in the table above. They may exercise this option for 30&nbsp;days after the consummation of this offering. If any shares are purchased pursuant to this
option, the underwriters will severally purchase such shares in approximately the same proportion as set forth in the table above. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following tables show the per share and total underwriting discounts and commissions to be paid by us to the underwriters. Such amounts are shown assuming both no exercise and full
exercise of the underwriters' option to purchase additional shares. </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="77pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="82pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:259pt;"><FONT SIZE=2><B>Underwriting Discounts and Commissions Paid By Us

<!-- COMMAND=ADD_SCROPPEDRULE,259pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:58pt;"><FONT SIZE=2><B>No Exercise<BR>
of Option

<!-- COMMAND=ADD_SCROPPEDRULE,58pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:62pt;"><FONT SIZE=2><B>Full Exercise<BR>
of Option

<!-- COMMAND=ADD_SCROPPEDRULE,62pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Per Share</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares
sold by the underwriters to the public will initially be offered at the initial public offering price set forth on the cover of this prospectus. Any shares sold by the
underwriters to securities dealers may be sold at a discount of up to $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share from the initial public offering price. After the initial offering of the shares, the
representatives
may change the offering price and the other selling terms. The offering of the shares by the underwriters is subject to receipt and acceptance and subject to the underwriters' right to reject any
order in whole or in part. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>170</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=175,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=403071,FOLIO='170',FILE='DISK108:[13ZDI1.13ZDI16701]EG16701A.;96',USER='JTAM',CD='23-MAR-2015;16:20' -->
<A NAME="page_eg16701_1_171"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
and our officers and directors, and holders of substantially all of our common stock, have agreed with the underwriters not to dispose of or hedge any of their common stock or
securities convertible into or exchangeable for shares of common stock (including Virtu Financial Units) during the period from the date of this prospectus through the date that is 180&nbsp;days
after the date of this prospectus, except with the prior written consent of the representatives of the underwriters. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
restrictions described in the paragraph above do not apply, subject in certain cases to various conditions (including no filing requirements (other than certain filings on
Form&nbsp;5) and the transfer of the lock-up restrictions), to:</FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>transfers as a bona fide gift, gifts or charitable contribution; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>transfers to any beneficiary or immediate family member of the securityholder or any trust, limited liability company,
partnership or corporation for the direct or indirect benefit of the securityholder or the immediate family of the securityholder; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>transfers to any beneficiary of or estate of a beneficiary of the securityholder pursuant to a trust, will or other
testamentary document or applicable laws of descent; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>transfers to any third-party pledgee in a bona fide transaction as collateral to secure obligations pursuant to lending or
other arrangements between such third parties (or their affiliates or designees) and the securityholder and/or its affiliates or any similar arrangement relating to a financing arrangement for the
benefit of the securityholder and/or its affiliates; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>transfers with the prior written consent of the representatives on behalf of the underwriters; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>exercises of warrants, conversions of convertible securities, exercises of options granted pursuant to our or our
affiliates' stock option/incentive plans or otherwise outstanding on the date of this prospectus; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>if the securityholder is a corporation, partnership, limited liability company or other entity, (i)&nbsp;transfers to
another corporation, partnership, limited liability company or other entity that is an affiliate (as defined under Rule&nbsp;12b-2 of the Exchange Act) of the securityholder or
(ii)&nbsp;distributions to equity holders (including, without limitation, general or limited partners, members, stockholders or affiliates) of the securityholder (including upon the liquidation and
dissolution of the securityholder pursuant to a plan of liquidation approved by the securityholder's equity holders); </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>if the securityholder is a trust, transfers to a grantor or beneficiary of the trust; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>if the securityholder is an individual, transfers to any corporation, partnership, limited liability company or other
entity that is wholly-owned by the securityholder and/or by members of the securityholder's immediate family; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the shares being offered pursuant to this prospectus; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the reorganization transactions described in this prospectus; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>exchanges of Virtu Financial Units (along with the corresponding shares of our Class&nbsp;C common stock or
Class&nbsp;D common stock, as applicable) for shares of our Class&nbsp;A common stock or Class&nbsp;B common stock, as applicable pursuant to the Exchange Agreement described under "Certain
Relationships and Related Party Transactions&nbsp;&#151; Exchange Agreement"; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the redemption by us, Virtu Financial or one of our affiliates of (i)&nbsp;securities held by or on behalf of an
employee in connection with the termination of such employee's employment or (ii)&nbsp;involuntarily transferred securities, in each case, in accordance with the Amended and </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>171</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=176,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=259465,FOLIO='171',FILE='DISK108:[13ZDI1.13ZDI16701]EG16701A.;96',USER='JTAM',CD='23-MAR-2015;16:20' -->
<A NAME="page_eg16701_1_172"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<UL>
<UL>

<P style="font-family:arial;"><FONT SIZE=2>Restated
Virtu Financial&nbsp;LLC Agreement or the limited liability company agreements of Virtu Employee Holdco; </FONT></P>

</UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>the repurchase of securities by us pursuant to an employee benefit plan described in this prospectus or pursuant to the
agreements pursuant to which such securities were issued; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>any shares of our Class&nbsp;A common stock acquired by a securityholder (i)&nbsp;in the open market after the
completion of this offering or (ii)&nbsp;from the underwriters in this offering; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>any transfer or sale of securities by operation of law, such as pursuant to a qualified domestic order or in connection
with a divorce settlement; and </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>dispositions of securities to a bona fide third party pursuant to a tender or exchange offer or any other transaction,
including, without limitation, a merger, consolidation or other business combination involving a change in control of the Company, that, in each case, has been approved by our board of directors
(including, without limitation, entering into any lock-up, voting or similar agreement pursuant to which the securityholder may agree to transfer, sell, tender or otherwise dispose of the
securityholder's securities in connection with any such transaction, or vote any of the securityholder's securities in favor of any such transaction), provided that all of the securities not so
transferred, sold, tendered or otherwise disposed of remain subject to the lock-up agreement and also provided that as a condition of such transfer, sale, tender or other disposition, if such tender
offer or other transaction is not completed, such securities will remain subject to the lock-up restrictions. </FONT></DD></DL>
</UL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See
"Shares Available for Future Sale" for a discussion of certain transfer restrictions. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior
to this offering, there has been no public market for our shares of Class&nbsp;A common stock. The initial public offering price will be determined by negotiations among us and
the representatives of the underwriters. The factors to be considered in determining the initial public offering price of the shares will include the prevailing market conditions, our historical
performance, estimates of our business potential and earnings prospects, an assessment of our management and the consideration of the above factors in relation to market valuation of companies in
related businesses. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
intend to list our Class&nbsp;A common stock on NASDAQ under the symbol "VIRT." </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
connection with this offering, the underwriters may purchase and sell shares of Class&nbsp;A common stock in the open market. These transactions may include short sales,
stabilizing transactions and purchases to cover positions created by short sales. Short sales involve the sale by the underwriters of a greater number of shares than they are required to purchase in
the offering, and a short position represents the amount of such sales that have not been covered by subsequent purchases. A "covered short position" is a short position that is not greater than the
amount of additional shares for which the underwriters' option described above may be exercised. The underwriters may cover any covered short position by either exercising their option to purchase
additional shares or purchasing shares in the open market. In determining the source of shares to cover the covered short position, the underwriters will consider, among other things, the price of
shares available for purchase in the open market as compared to the price at which they may purchase additional shares pursuant to the option described above. "Naked" short sales are any short sales
that create a short position greater than the amount of additional shares for which the option described above may be exercised. The underwriters must cover any such naked short position by purchasing
shares in the open market. A naked short position is more likely to be created if the underwriters are concerned that there may be downward pressure on the price of the shares of our Class&nbsp;A
common stock in the open market after pricing that could adversely affect investors who purchase in the offering. Stabilizing transactions consist of various bids for or </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>172</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=177,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=135820,FOLIO='172',FILE='DISK108:[13ZDI1.13ZDI16701]EG16701A.;96',USER='JTAM',CD='23-MAR-2015;16:20' -->
<A NAME="page_eg16701_1_173"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>purchases
of shares made by the underwriters in the open market prior to the completion of the offering. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
underwriters may also impose a penalty bid. This occurs when a particular underwriter repays to the underwriters a portion of the underwriting discount received by it because the
representatives have repurchased shares sold by or for the account of such underwriter in stabilizing or short covering transactions. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases
to cover a short position and stabilizing transactions, as well as other purchases by the underwriters for their own accounts, may have the effect of preventing or slowing a
decline in the market price of our Class&nbsp;A common stock, and together with the imposition of the penalty bid, may stabilize, maintain or otherwise affect the market price of our Class&nbsp;A
common stock. As a result, the price of our Class&nbsp;A common stock may be higher than the price that otherwise might exist in the open market. The underwriters are not required to engage in these
activities and may end any of these activities at any time. These transactions may be effected on NASDAQ, in the over-the-counter market or otherwise. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Directed Share Program  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At our request, the underwriters have reserved up to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of the Class&nbsp;A common stock being offered for sale in this
offering at the initial public offering price to our directors, officers, employees, consultants, team members and other individuals associated with us and members of their respective families. The
sales will be made by UBS Financial Services&nbsp;Inc., a selected dealer affiliated with UBS Securities&nbsp;LLC, an underwriter of this offering, through a directed share program. We do not know
if these persons will choose to purchase all or any portion of these reserved shares, but any purchases they do make will reduce the number of shares available to the general public. Any reserved
shares not so purchased will be offered by the underwriters to the general public on the same terms as the other shares of Class&nbsp;A common stock. Participants in the directed share program shall
be subject to a 180-day lock-up with respect to any shares sold to them pursuant to that program. Such lock-up will have similar restrictions and exceptions to the lock-up entered into by executive
officers, directors, the Founder Post-IPO Member, the Silver Lake Equityholders, the Temasek Post-IPO Stockholder and certain of our other stockholders as described under "Shares Available for Future
Sale&nbsp;&#151; Lock-Up Agreements." Any shares sold in the directed share program to our executive officers, directors, the Founder Post-IPO Member, the Silver Lake Equityholders, the
Temasek Post-IPO Stockholder and certain of our other stockholders shall also be subject to the 180-day lock-up agreement described under "Shares Available for Future Sale&nbsp;&#151; Lock-Up
Agreements." </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> European Economic Area  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In relation to each Member State of the European Economic Area which has implemented the Prospectus Directive (each, a "Relevant
Member State"), each underwriter agrees that with effect from and including the date on which the Prospectus Directive is implemented in that Relevant Member State (the "Relevant Implementation Date")
it has not made and will not make an offer of shares to the public in that Relevant Member State prior to the publication of a prospectus in relation to the shares which has been approved by the
competent authority in that Relevant Member State or, where appropriate, approved in another Relevant Member State and notified to the competent authority in that Relevant Member State, all in
accordance with the Prospectus Directive, except that it may, with effect from and including the
Relevant Implementation Date, make an offer of shares to the public in that Relevant Member State at any time: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>to
legal entities which are authorized or regulated to operate in the financial markets or, if not so authorized or regulated, whose corporate purpose is
solely to invest in securities; </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>173</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=178,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=837963,FOLIO='173',FILE='DISK108:[13ZDI1.13ZDI16701]EG16701A.;96',USER='JTAM',CD='23-MAR-2015;16:20' -->
<A NAME="page_eg16701_1_174"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>to
any legal entity which has two or more of (i)&nbsp;an average of at least 250 employees during the last financial year, (ii)&nbsp;a total balance
sheet of more than &euro;43,000,000 and (iii)&nbsp;an annual net turnover of more than &euro;50,000,000, as shown in its last annual or consolidated accounts;
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(c)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>to
fewer than 100 natural or legal persons (other than qualified investors as defined in the Prospectus Directive) subject to obtaining the prior consent of
the representatives for any such offer; or
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(d)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>in
any other circumstances which do not require the publication by the Company of a prospectus pursuant to Article&nbsp;3 of the Prospectus Directive. </FONT></DD></DL>
</UL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
the purposes of this provision, the expression an "offer of shares to the public" in relation to any shares in any Relevant Member State means the communication in any form and by
any means of sufficient information on the terms of the offer and the shares to be offered so as to enable an investor to decide to purchase or subscribe the shares, as the same may be varied in that
Relevant Member State by any measure implementing the Prospectus Directive in that Relevant Member State and the expression Prospectus Directive means Directive 2003/71/EC and includes any relevant
implementing measure in each Relevant Member State. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> United Kingdom  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each underwriter agrees that: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>it
has only communicated or caused to be communicated and will only communicate or cause to be communicated an invitation or inducement to engage in
investment activity (within the meaning of Section&nbsp;21 of the FSMA) received by it in connection with the issue or sale of the shares in circumstances in which Section&nbsp;21(1) of the FSMA
does not apply to the Company; and
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>it
has complied and will comply with all applicable provisions of the FSMA with respect to anything done by it in relation to the shares in, from or
otherwise involving the United Kingdom. </FONT></DD></DL>
</UL>

<P style="font-family:arial;"><FONT SIZE=2><B> Hong Kong  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The shares may not be offered or sold by means of any document other than (i)&nbsp;in circumstances which do not constitute an offer
to the public within the meaning of the Companies Ordinance (Cap.32, Laws of Hong Kong), or (ii)&nbsp;to "professional investors" within the meaning of the Securities and Futures Ordinance (Cap.571,
Laws of Hong Kong) and any rules made thereunder, or (iii)&nbsp;in other circumstances which do not result in the document being a "prospectus" within the meaning of the Companies Ordinance (Cap.32,
Laws of Hong Kong), and no advertisement, invitation or document relating to the shares may be issued or may be in the possession of any person for the purpose of issue (in each case whether in Hong
Kong or elsewhere), which is directed at, or the contents of which are likely to be accessed or read by, the public in Hong Kong (except if permitted to do so under the laws of Hong Kong) other than
with respect to shares which are or are intended to be disposed of only to persons outside Hong Kong or only to "professional investors" within the meaning of the Securities and Futures Ordinance
(Cap. 571, Laws of Hong Kong) and any rules made thereunder. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Singapore  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This prospectus has not been registered as a prospectus with the Monetary Authority of Singapore. Accordingly, this prospectus and any
other document or material in connection with the offer or sale, or invitation for subscription or purchase, of the shares may not be circulated or </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>174</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=179,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=226986,FOLIO='174',FILE='DISK108:[13ZDI1.13ZDI16701]EG16701A.;96',USER='JTAM',CD='23-MAR-2015;16:20' -->
<A NAME="page_eg16701_1_175"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>distributed,
nor may the shares be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly, to persons in Singapore other than
(i)&nbsp;to an institutional investor under Section&nbsp;274 of the Securities and Futures Act, Chapter&nbsp;289 of Singapore (the "SFA"), (ii)&nbsp;to a relevant person, or any person
pursuant to Section&nbsp;275(1A), and in accordance with the conditions, specified in Section&nbsp;275 of the SFA or (iii)&nbsp;otherwise pursuant to, and in accordance with the conditions of,
any other applicable provision of the SFA. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Where
the shares are subscribed or purchased under Section&nbsp;275 by a relevant person which is: (a)&nbsp;a corporation (which is not an accredited investor) the sole business of
which is to hold investments and the entire share capital of which is owned by one or more individuals, each of whom is an accredited investor; or (b)&nbsp;a trust (where the trustee is not an
accredited investor) whose sole purpose is to hold investments and each beneficiary is an accredited investor, shares, debentures and units of shares and debentures of that corporation or the
beneficiaries' rights and interest in that trust shall not be transferable for six months after that corporation or that trust has acquired the shares under Section&nbsp;275 except: (1)&nbsp;to an
institutional investor under Section&nbsp;274 of the SFA or to a relevant person, or any person pursuant to Section&nbsp;275(1A), and in accordance with the conditions, specified in
Section&nbsp;275 of the SFA; (2)&nbsp;where no consideration is given for the transfer; or (3)&nbsp;by operation of law. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Japan  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The shares have not been and will not be registered under the Financial Instruments and Exchange Law of Japan (the Financial
Instruments and Exchange Law), and each underwriter has agreed that it will not offer or sell any securities, directly or indirectly, in Japan or to, or for the benefit of, any resident of Japan
(which term as used herein means any person resident in Japan, including any corporation or other entity organized under the laws of Japan), or to others for re-offering or resale, directly or
indirectly, in Japan or to a resident of Japan,
except pursuant to an exemption from the registration requirements of, and otherwise in compliance with, the Financial Instruments and Exchange Law and any other applicable laws, regulations and
ministerial guidelines of Japan. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Switzerland  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The shares may not be publicly offered in Switzerland and will not be listed on the SIX Swiss Exchange ("SIX") or on any other stock
exchange or regulated trading facility in Switzerland. This prospectus has been prepared without regard to the disclosure standards for issuance prospectuses under art. 652a or art. 1156 of the Swiss
Code of Obligations or the disclosure standards for listing prospectuses under art. 27 ff. of the SIX Listing Rules or the listing rules of any other stock exchange or regulated trading facility in
Switzerland. Neither this prospectus nor any other offering or marketing material relating to the shares or the offering may be publicly distributed or otherwise made publicly available in
Switzerland. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
this prospectus nor any other offering or marketing material relating to the offering, the company, the shares have been or will be filed with or approved by any Swiss
regulatory authority. In particular, this prospectus will not be filed with, and the offer of shares will not be supervised by, the Swiss Financial Market Supervisory Authority FINMA, and the offer of
shares has not been and will not be authorized under the Swiss Federal Act on Collective Investment Schemes ("CISA"). The investor protection afforded to acquirers of interests in collective
investment schemes under the CISA does not extend to acquirers of shares. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
underwriters do not expect sales to discretionary accounts to exceed five percent of the total number of shares offered. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>175</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=180,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=934272,FOLIO='175',FILE='DISK108:[13ZDI1.13ZDI16701]EG16701A.;96',USER='JTAM',CD='23-MAR-2015;16:20' -->
<A NAME="page_eg16701_1_176"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
estimate that our share of the total expenses of this offering, excluding underwriting discounts and commissions, will be approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;. We
have agreed to reimburse
the underwriters for up to $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for their expenses in connection with the qualification of the offering of the shares with the Financial Industry Regulatory
Authority. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
will be paying Goldman, Sachs&nbsp;&amp;&nbsp;Co., who is acting as an underwriter, certain fees in connection with corporate structuring services they provided, on completion of
this offering. We have agreed to pay $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for their services. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
will be paying Sandler O'Neill&nbsp;&amp; Partners,&nbsp;L.P., who is acting as an underwriter, certain fees in connection with financial advisory services they provided, on
completion of this offering. We have agreed to pay $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for their services. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
have agreed to indemnify the several underwriters against certain liabilities, including certain liabilities under the Securities Act of 1933. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
underwriters and their respective affiliates are full service financial institutions engaged in various activities, which may include sales and trading, commercial and investment
banking, advisory, investment management, investment research, principal investment, hedging, market making, brokerage and other financial and non-financial activities and services. Certain of the
underwriters and their respective affiliates have provided, and may in the future provide, a variety of these services to us and to persons and entities with relationships with us, for which they
received or will receive customary fees and expenses. In particular, certain of the underwriters or their respective affiliates are currently, or are expected to be, lenders under our senior secured
credit facility, broker-dealer credit facility and/or our new revolving credit facility, as the case may be, for which they receive, or are expected to receive, customary fees and expenses. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the ordinary course of their various business activities, the underwriters and their respective affiliates, officers, directors and employees may purchase, sell or hold a broad array
of investments and actively trade securities, derivatives, loans, commodities, currencies, credit default swaps and other financial instruments for their own account and for the accounts of their
customers, and such investment and trading activities may involve or relate to assets, securities and/or instruments of ours (directly, as collateral securing other obligations or otherwise) and/or
persons and entities with relationships with us. The underwriters and their respective affiliates may also communicate independent investment recommendations, market color or trading ideas and/or
publish or express independent research views in respect of such assets, securities or instruments and may at any time hold, or recommend to clients that they should acquire, long and/or short
positions in such assets, securities and instruments. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>176</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=7,SEQ=181,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=519123,FOLIO='176',FILE='DISK108:[13ZDI1.13ZDI16701]EG16701A.;96',USER='JTAM',CD='23-MAR-2015;16:20' -->
<A NAME="page_eg16701_1_177"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="eg16701_legal_matters"> </A>
<A NAME="toc_eg16701_2"> </A>
<BR></FONT><FONT SIZE=2><B>  LEGAL MATTERS    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison&nbsp;LLP, New York, New York, will pass on the validity of the Class&nbsp;A common
stock offered by this prospectus for us. Davis Polk&nbsp;&amp; Wardwell&nbsp;LLP, New York, New York will pass upon certain legal matters in connection with the offering for the underwriters. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="eg16701_experts"> </A>
<A NAME="toc_eg16701_3"> </A>
<BR></FONT><FONT SIZE=2><B>  EXPERTS    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The financial statements of Virtu Financial,&nbsp;Inc. included in this prospectus have been audited by Deloitte&nbsp;&amp;
Touche&nbsp;LLP, an independent registered public accounting firm, as stated in their report appearing herein. Such financial statements are included in reliance upon the report of such firm given
upon their authority as experts in accounting and auditing. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
consolidated financial statements of Virtu Financial&nbsp;LLC and its subsidiaries included in this prospectus have been audited by Deloitte&nbsp;&amp; Touche&nbsp;LLP, an
independent registered public accounting firm, as stated in their report appearing herein. Such consolidated financial statements are included in reliance upon the report of such firm given upon their
authority as experts in accounting and auditing. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="eg16701_where_you_can_find_more_information"> </A>
<A NAME="toc_eg16701_4"> </A>
<BR></FONT><FONT SIZE=2><B>  WHERE YOU CAN FIND MORE INFORMATION    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have filed with the Commission a registration statement on Form&nbsp;S-1 with respect to the Class&nbsp;A common stock being
sold in this offering. This prospectus constitutes a part of that registration statement. This prospectus does not contain all the information set forth in the registration statement and the exhibits
and schedules to the registration statement, because some parts have been omitted in accordance with the rules and regulations of the Commission. For further information with respect to us and our
Class&nbsp;A common stock being sold in this offering, you should refer to the registration statement and the exhibits and schedules filed as part of the registration statement. Statements contained
in this prospectus regarding the contents of any agreement, contract or other document referred to are not necessarily complete; reference is made in each instance to the copy of the contract or
document filed as an exhibit to the registration statement. Each statement is qualified by reference to the exhibit. You may inspect a copy of the registration statement without charge at the
Commission's principal office in Washington, D.C.
Copies of all or any part of the registration statement may be obtained after payment of fees prescribed by the Commission from the Commission's Public Reference Room at the Commission's principal
office, at 100&nbsp;F Street, N.E., Washington, D.C. 20549. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You
may obtain information regarding the operation of the Public Reference Room by calling the Commission at 1-800-SEC-0330. The Commission maintains an Internet site that contains
reports, proxy and information statements and other information regarding registrants that file electronically with the Commission. The Commission's website address is www.sec.gov. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After
we have completed this offering, we will file annual, quarterly and current reports, proxy statements and other information with the SEC. We intend to make these filings available
on our website once the offering is completed. You may read and copy any reports, statements or other information on file at the public reference rooms. You can also request copies of these documents,
for a copying fee, by writing to the SEC, or you can review these documents on the SEC's website, as described above. In addition, we will provide electronic or paper copies of our filings free of
charge upon request. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>177</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=8,SEQ=182,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=485068,FOLIO='177',FILE='DISK108:[13ZDI1.13ZDI16701]EG16701A.;96',USER='JTAM',CD='23-MAR-2015;16:20' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_fa16701_1_1"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<A NAME="fa16701_index_to_consolidated_financial_statements"> </A>
<P ALIGN="CENTER" style="font-family:arial;"><BR><FONT SIZE=2><B>  INDEX TO CONSOLIDATED FINANCIAL STATEMENTS    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>
<A NAME="FA16701_TOC"></A> </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->
<!-- COMMAND=ADD_START_LINKTABLE -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="34pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:24pt;"><FONT SIZE=2><B>Page

<!-- COMMAND=ADD_SCROPPEDRULE,24pt -->

 </B></FONT></DIV></TH>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Virtu Financial, Inc.</B></FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B><I>Financial Statements</I></B></FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:arial;"><A HREF="#rpt1"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Report of Independent Registered Public Accounting Firm</FONT></A></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><A HREF="#rpt1"><FONT SIZE=2>F-2</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:arial;"><A HREF="#fin_cond1"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Statements of Financial Condition as of December&nbsp;31, 2014 and&nbsp;2013</FONT></A></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><A HREF="#fin_cond1"><FONT SIZE=2>F-3</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:arial;"><A HREF="#stat_comp"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Statements of Comprehensive Income (Loss) for the year ended December&nbsp;31, 2014 and for the period October&nbsp;16,
2013 (Date of Inception) to December&nbsp;31, 2013</FONT></A></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><A HREF="#stat_comp"><FONT SIZE=2>F-4</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:arial;"><A HREF="#stat_change"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Statements of Changes in Stockholder's Equity/(Deficit) for the year ended December&nbsp;31, 2014 and for the period
October&nbsp;16, 2013 (Date of Inception) to December&nbsp;31, 2013</FONT></A></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><A HREF="#stat_change"><FONT SIZE=2>F-5</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:arial;"><A HREF="#fin_cash"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Statements of Cash Flows for the year ended December&nbsp;31, 2014 and for the period October&nbsp;16, 2013 (Date of
Inception) to December&nbsp;31, 2013</FONT></A></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><A HREF="#fin_cash"><FONT SIZE=2>F-6</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:arial;"><A HREF="#notes1"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Notes to Financial Statements</FONT></A></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><A HREF="#notes1"><FONT SIZE=2>F-7</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Virtu Financial&nbsp;LLC and Subsidiaries</B></FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B><I>Consolidated Financial Statements</I></B></FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:arial;"><A HREF="#rpt3"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Report of Independent Registered Public Accounting Firm</FONT></A></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><A HREF="#rpt3"><FONT SIZE=2>F-8</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:arial;"><A HREF="#fin_cond2"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consolidated Statements of Financial Condition as of December&nbsp;31, 2014 and 2013</FONT></A></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><A HREF="#fin_cond2"><FONT SIZE=2>F-9</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:arial;"><A HREF="#comp_incm2"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consolidated Statements of Comprehensive Income for the years ended December&nbsp;31, 2014, 2013 and
2012</FONT></A></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><A HREF="#comp_incm2"><FONT SIZE=2>F-10</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:arial;"><A HREF="#changes2"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consolidated Statements of Changes in Members' Equity for the years ended December&nbsp;31, 2014, 2013 and
2012</FONT></A></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><A HREF="#changes2"><FONT SIZE=2>F-11</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:arial;"><A HREF="#CF2"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consolidated Statements of Cash Flows for the years ended December&nbsp;31, 2014, 2013 and 2012</FONT></A></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><A HREF="#CF2"><FONT SIZE=2>F-12</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:arial;"><A HREF="#notes2"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Notes to Consolidated Financial Statements</FONT></A></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><A HREF="#notes2"><FONT SIZE=2>F-13</FONT></A></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
<!-- COMMAND=ADD_END_LINKTABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-1</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=183,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=962981,FOLIO='F-1',FILE='DISK108:[13ZDI1.13ZDI16701]FA16701A.;39',USER='CHE107549',CD='12-MAR-2015;02:02' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_fb16701_1_2"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="fb16701_report_of_independent___fb102278"> </A>
<A NAME="toc_fb16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  <A NAME="rpt1"></A>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>To
the Stockholder of Virtu Financial,&nbsp;Inc.:<BR>
New York, New York </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
have audited the accompanying statements of financial condition of Virtu Financial,&nbsp;Inc. (the "Company") as of December&nbsp;31, 2014 and 2013, and the related statements of
comprehensive income (loss), changes in stockholder's equity/(deficit) and cash flows for the year ended December&nbsp;31, 2014 and for the period October&nbsp;16, 2013 (Date of Inception) to
December&nbsp;31, 2013. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audits. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free of material misstatement. The Company is not required to have, nor were we engaged to perform, an audit of its internal
control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances,
but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes
examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well
as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
our opinion, such financial statements present fairly, in all material respects, the financial position of Virtu Financial,&nbsp;Inc. as of December&nbsp;31, 2014 and 2013, and
the results of its operations and its cash flows for the year ended December&nbsp;31, 2014 and for the period October&nbsp;16, 2013 (Date of Inception) to December&nbsp;31, 2013, in conformity
with accounting principles generally accepted in the United States of America. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><I>/s/ Deloitte&nbsp;&amp; Touche&nbsp;LLP</I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>New
York, New York<BR>
February&nbsp;19, 2015 </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-2</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=184,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=868113,FOLIO='F-2',FILE='DISK108:[13ZDI1.13ZDI16701]FB16701A.;27',USER='CHE107549',CD='12-MAR-2015;02:02' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_fc16701_1_3"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->





<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->




<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT> <FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> <A NAME="fin_cond1"></A>Virtu Financial, Inc.<BR>
Statements of Financial Condition<BR>
As of December&nbsp;31, 2014 and 2013  </B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="81pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="81pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>As of December&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2014 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2013 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Assets</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Cash</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>545</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>100</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Deferred tax benefit</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>4,744</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total assets</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>5,289</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>100</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Liabilities</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Payable to affiliate</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>14,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total liabilities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>14,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Stockholder's equity/(deficit)</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Class&nbsp;A common stock, $0.00001 par value&#151;1,000 shares authorized, 100 shares issued and outstanding</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Accumulated deficit</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(8,811</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Additional paid-in capital</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>100</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>100</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total stockholder's equity/(deficit)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(8,711</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>100</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total liabilities and stockholder's equity/(deficit)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>5,289</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>100</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>See
accompanying notes to these financial statements. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-3</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=185,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=693569,FOLIO='F-3',FILE='DISK108:[13ZDI1.13ZDI16701]FC16701A.;54',USER='CHE107549',CD='12-MAR-2015;02:02' -->
<A NAME="page_fc16701_1_4"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> <A NAME="stat_comp"></A>Virtu Financial, Inc.<BR>
Statements of Comprehensive Income (Loss)<BR>
For the Year Ended December&nbsp;31, 2014 and for the Period<BR>
October&nbsp;16, 2013 (Date of Inception) to December&nbsp;31, 2013  </B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="81pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="101pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>For the<BR>
Year Ended<BR>
December&nbsp;31,<BR>
2014 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>For the Period<BR>
October&nbsp;16, 2013<BR>
(Date&nbsp;of&nbsp;Inception)<BR>
to December&nbsp;31,<BR>
2013 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Operating Expenses:</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Operations and administrative</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>13,555</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Income (loss) before income taxes</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(13,555</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Provision for (benefit from) income taxes</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(4,744</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Net income (loss)</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(8,811</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>See
accompanying notes to these financial statements. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-4</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=186,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=911601,FOLIO='F-4',FILE='DISK108:[13ZDI1.13ZDI16701]FC16701A.;54',USER='CHE107549',CD='12-MAR-2015;02:02' -->
<A NAME="page_fc16701_1_5"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> <A NAME="stat_change"></A>Virtu Financial, Inc.<BR>
Statements of Changes in Stockholder's Equity/(Deficit)<BR>
For the Year Ended December&nbsp;31, 2014 and for the Period<BR>
October&nbsp;16, 2013 (Date of Inception) to December&nbsp;31, 2013  </B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:54%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"150%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="150%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="61pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="61pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="81pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="81pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="81pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=5 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Class&nbsp;A Common&nbsp;Stock </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Additional<BR>
Paid-in Capital </B></FONT></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Accumulated<BR>
Deficit </B></FONT></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Total<BR>
Stockholder's<BR>
Equity/(Deficit) </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Shares </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Amounts </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Balance at October&nbsp;16, 2013</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Capital contribution</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>100</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>100</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>100</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net income (loss)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Balance at December&nbsp;31, 2013</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>100</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>100</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>100</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net income (loss)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(8,811</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(8,811</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Balance at December&nbsp;31, 2014</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>100</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>100</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(8,811</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(8,711</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>See
accompanying notes to these financial statements. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-5</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=187,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=1025563,FOLIO='F-5',FILE='DISK108:[13ZDI1.13ZDI16701]FC16701A.;54',USER='CHE107549',CD='12-MAR-2015;02:02' -->
<A NAME="page_fc16701_1_6"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> <A NAME="fin_cash"></A>Virtu Financial, Inc.<BR>
Statements of Cash Flows<BR>
For the Year Ended December&nbsp;31, 2014 and for the Period<BR>
October&nbsp;16, 2013 (Date of Inception) to December&nbsp;31, 2013  </B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="81pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="94pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>For the<BR>
Year Ended<BR>
December&nbsp;31,<BR>
2014 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>For the Period<BR>
October&nbsp;16, 2013<BR>
(Date&nbsp;of&nbsp;Inception)<BR>
to December&nbsp;31,<BR>
2013 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Cash flows from operating activities</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net income (loss)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(8,811</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Adjustments to reconcile net income (loss) to net cash provided by operating activities:</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:30pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Deferred tax benefit</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(4,744</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Changes in operating assets and liabilities:</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:30pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Payable to affiliate</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>14,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:40pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net cash provided by operating activities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>445</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Cash flows from financing activities</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Capital contribution</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>100</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net increase in cash</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>445</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>100</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Cash, beginning of period</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>100</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Cash, end of period</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>545</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>100</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>See
accompanying notes to these financial statements. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-6</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=188,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=939434,FOLIO='F-6',FILE='DISK108:[13ZDI1.13ZDI16701]FC16701A.;54',USER='CHE107549',CD='12-MAR-2015;02:02' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_fe16701_1_7"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="notes1"></A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="fe16701_virtu_financial,_inc._notes_to_financial_statements"> </A>
<A NAME="toc_fe16701_1"> </A></FONT> <FONT SIZE=2><B><BR>  Virtu Financial,&nbsp;Inc.    <BR>    <BR>    NOTES TO FINANCIAL STATEMENTS    <BR>    </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> 1. Organization  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu Financial,&nbsp;Inc. (the "Company") was formed as a Delaware corporation on October&nbsp;16, 2013. The Company's fiscal year end is December&nbsp;31. The Company was formed
for the purpose of completing certain reorganization transactions, in order to carry on the business of Virtu Financial&nbsp;LLC and conducting a public offering. The Company will be the sole
managing member of Virtu Financial&nbsp;LLC and will operate and control all of the businesses and affairs of Virtu Financial&nbsp;LLC and, through Virtu Financial&nbsp;LLC and its subsidiaries,
continue to conduct the business now conducted by such subsidiaries. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> 2. Summary of Significant Accounting Policies  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 3. Related-Party Transactions  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company may receive funding from affiliates in the ordinary course of business. As of December&nbsp;31, 2014 and 2013, the Company had a payable of $14,000 and $0 to its
affiliates, respectively. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> 4. Income Taxes  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company is subject to taxes at the U.S. federal statutory rate of 35%. For the year ended December&nbsp;31, 2014 and for the period October&nbsp;16, 2013 (Date of Inception) to
December&nbsp;31, 2013, the Company recognized income tax benefits of $4,744 and $0, respectively, due to current losses. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
deferred tax asset relating to the carryforward losses has been recognized in the amount of $4,744 and $0 as of December&nbsp;31, 2014 and 2013, respectively. The provisions of ASC
740 require that carrying amounts of deferred tax assets be reduced by a valuation allowance if, based on the available evidence, it is more likely than not that some portion or all of the deferred
tax assets will not be realized. Accordingly, the need to establish valuation allowances for deferred tax assets is assessed periodically with appropriate consideration given to all positive and
negative evidence related to the realization of the deferred tax assets. A valuation allowance against deferred tax assets at the balance sheet date is not considered necessary, because it is more
likely than not the deferred tax asset will be fully realized. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 5. Stockholder's Equity  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VFH Parent&nbsp;LLC, a wholly owned subsidiary of Virtu Financial&nbsp;LLC, is the sole stockholder of the Company, and contributed $100 to the Company on October&nbsp;17, 2013 to
purchase 100 shares of Class&nbsp;A common stock. Holders of Class&nbsp;A common stock shall be entitled to one vote for each share of Class&nbsp;A common stock held on all matters submitted to
stockholders for vote, consent or approval. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 6. Subsequent Events  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has evaluated subsequent events through February&nbsp;19, 2015, the date the financial statements were issued. The Company did not note any subsequent events requiring
disclosure or adjustments to the financial statements. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-7</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=189,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=879638,FOLIO='F-7',FILE='DISK108:[13ZDI1.13ZDI16701]FE16701A.;33',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_ff16701_1_8"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->





<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->




<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT> <FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> <A NAME="rpt3"></A>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>To
the Members of Virtu Financial&nbsp;LLC and Subsidiaries:<BR>
New York, New York </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
have audited the accompanying consolidated statements of financial condition of Virtu Financial&nbsp;LLC and subsidiaries (the "Company") as of December&nbsp;31, 2014 and 2013,
and the related consolidated statements of comprehensive income, changes in members' equity and cash flows for each of the three years in the period ended December&nbsp;31, 2014. These financial
statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audits. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free of material misstatement. The Company is not required to have, nor were we engaged to perform, an audit of its internal
control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances,
but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes
examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well
as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
our opinion, such consolidated financial statements present fairly, in all material respects, the financial position of Virtu Financial&nbsp;LLC and subsidiaries as of
December&nbsp;31, 2014 and 2013, and the results of their operations and their cash flows for each of the three years in the period ended December&nbsp;31, 2014, in conformity with accounting
principles generally accepted in the United States of America. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I>/s/ Deloitte&nbsp;&amp; Touche&nbsp;LLP</I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>New
York, New York<BR>
February&nbsp;19, 2015 </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-8</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=190,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=545775,FOLIO='F-8',FILE='DISK108:[13ZDI1.13ZDI16701]FF16701A.;15',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_fg16701_1_9"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="fg16701_virtu_financial_llc_and_subsid__vir03970"> </A>
<A NAME="toc_fg16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  <A NAME="fin_cond2"></A>Virtu Financial&nbsp;LLC and Subsidiaries<BR>  <BR>    Consolidated Statements of Financial Condition<BR>  as of December&nbsp;31, 2014 and 2013    <BR>    </B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="121pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="60pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="60pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>Unaudited Pro Forma<BR>
As of December&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>As of December&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2><B>(in thousands except interest data)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:21pt;"><FONT SIZE=2><B>2014

<!-- COMMAND=ADD_SCROPPEDRULE,21pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:21pt;"><FONT SIZE=2><B>2014

<!-- COMMAND=ADD_SCROPPEDRULE,21pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:21pt;"><FONT SIZE=2><B>2013

<!-- COMMAND=ADD_SCROPPEDRULE,21pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B>(Note 1)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Assets</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Cash and cash equivalents</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>75,864</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>66,010</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Securities borrowed</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>484,934</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>708,103</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Securities purchased under agreements to resell</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>31,463</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>162,608</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Receivables from broker-dealers and clearing organizations</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>387,652</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>427,741</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Trading assets, at fair value:</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:27pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Financial instruments owned</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,307,933</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,388,234</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:27pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Financial instruments owned and pledged</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>236,375</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>415,179</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Property, equipment and capitalized software (net of accumulated depreciation)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>44,644</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>37,585</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Goodwill</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>715,379</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>715,379</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Intangibles (net of accumulated amortization)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,414</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,626</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Other assets ($8,205 and $7,318, at fair value, as of December&nbsp;31, 2014 and&nbsp;2013, respectively)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>38,903</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>41,105</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:27pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total assets</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>3,324,561</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>3,963,570</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Liabilities, redeemable interest and members'&nbsp;equity</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Liabilities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Short-term borrowings</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>72,800</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Securities loaned</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>497,862</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,029,312</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Securities sold under agreements to repurchase</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2,006</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>10,883</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Payables to broker-dealers and clearing organizations</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>686,203</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>530,229</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Trading liabilities, at fair value:</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:27pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Financial instruments sold, not yet purchased</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,037,634</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,278,412</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Accounts payable and accrued expenses and other liabilities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>93,331</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>80,921</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Senior secured credit facility</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>500,827</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>507,725</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:27pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total liabilities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2,817,863</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>3,510,282</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Class&nbsp;A-1 redeemable interest</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>294,433</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>250,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Members' equity</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Class&nbsp;A-1 &#151; Authorized and Issued&nbsp;&#151; 1,964,826 and 1,964,826 interests, Outstanding&nbsp;&#151; 1,964,826 and 1,964,826 interests, at
December&nbsp;31,&nbsp;2014 and 2013, respectively</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>19,648</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>19,648</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Class A-2 &#151; Authorized and Issued &#151; 101,381,332 and 100,627,010 interests, Outstanding &#151; 99,855,666 and 99,459,345 interests at December 31,
2014 and 2013, respectively</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>287,705</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>256,340</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Accumulated deficit</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(91,383</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(74,027</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Accumulated other comprehensive income (loss)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(3,705</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,327</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total members' equity</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>212,265</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>203,288</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total liabilities, redeemable interest and members' equity</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>3,324,561</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>3,963,570</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>

 <p style="font-family:arial;line-height:1pt;margin-left:18pt;"><font> </FONT> <FONT SIZE=2>
<!-- BLANK LINE TO FORCE PARA -->
&nbsp;&nbsp;&nbsp;
</font></p><p align=center style="font-family:arial;"><font> </FONT> <FONT SIZE=2>
See accompanying notes to the consolidated financial statements.</FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-9</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=191,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=881876,FOLIO='F-9',FILE='DISK108:[13ZDI1.13ZDI16701]FG16701A.;61',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_fi16701_1_10"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="fi16701_virtu_financial_llc_and_subsid__vir04549"> </A>
<A NAME="toc_fi16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  <A NAME="comp_incm2"></A>Virtu Financial&nbsp;LLC and Subsidiaries<BR>  <BR>    Consolidated Statements of Comprehensive Income<BR>  for the Years Ended December&nbsp;31, 2014, 2013 and 2012    <BR>    </B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="56pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="56pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="56pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>For the Years Ended<BR>
December&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2><B>(In thousands)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2014

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2013

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2012

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Revenues:</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Trading income, net</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>685,150</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>623,733</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>581,476</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Interest and dividends income</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>27,923</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>31,090</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>34,152</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Technology services</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>9,980</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>9,682</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:30pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total revenue</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>723,053</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>664,505</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>615,628</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Operating Expenses:</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Brokerage, exchange and clearance fees, net</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>230,965</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>195,146</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>200,587</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Communication and data processing</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>68,847</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>64,689</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>55,384</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Employee compensation and payroll taxes</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>84,531</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>78,353</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>63,836</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Interest and dividends expense</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>47,083</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>45,196</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>48,735</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Operations and administrative</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>21,923</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>27,215</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>27,826</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Depreciation and amortization</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>30,441</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>23,922</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>17,975</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Amortization of purchased intangibles and acquired capitalized software</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>211</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,011</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>71,654</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Acquisition cost</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>69</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Acquisition related retention bonus</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2,639</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>6,705</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>6,151</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Impairment of intangible assets</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,489</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Lease abandonment</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>6,134</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Debt issue cost related to debt refinancing</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>10,022</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Initial public offering fees and expenses</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>8,961</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Transaction advisory fees and expenses</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>3,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Financing interest expense on senior secured credit facility</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>30,894</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>24,646</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>26,460</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:30pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total operating expenses</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>529,495</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>476,905</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>526,300</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:30pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Income before income taxes</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>193,558</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>187,600</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>89,328</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:30pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Provision for income taxes</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>3,501</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>5,397</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,768</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net income</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>190,057</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>182,203</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>87,560</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Other Comprehensive Income, net of taxes:</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Foreign exchange translation adjustment</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(5,032</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,382</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>548</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Comprehensive Income</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>185,025</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>183,585</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>88,108</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>

 <p style="font-family:arial;line-height:1pt;margin-left:18pt;"><font> </FONT> <FONT SIZE=2>
<!-- BLANK LINE TO FORCE PARA -->
&nbsp;&nbsp;&nbsp;
</font></p><p align=center style="font-family:arial;"><font> </FONT> <FONT SIZE=2>
See accompanying notes to the consolidated financial statements. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-10</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=192,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=223846,FOLIO='F-10',FILE='DISK108:[13ZDI1.13ZDI16701]FI16701A.;44',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_fk16701_1_11"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="fk16701_virtu_financial_llc_and_subsid__vir04773"> </A>
<A NAME="toc_fk16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  <A NAME="changes2"></A>Virtu Financial&nbsp;LLC and Subsidiaries<BR>  <BR>    Consolidated Statements of Changes in Members' Equity<BR>  for the Years Ended December&nbsp;31, 2014, 2013 and 2012    <BR>    </B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:54%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"150%" -->


<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="150%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="49pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="44pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="54pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="49pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="67pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="75pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="49pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="60pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=5 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Class&nbsp;A-1 </B></FONT></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=5 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Class&nbsp;A-2 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=3 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ROWSPAN=3 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:57pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Accumulated<BR>
Other<BR>
Comprehensive<BR>
Income (Loss)


<!-- COMMAND=ADD_SCROPPEDRULE,57pt -->

 </B></FONT></DIV></TH>
<TH ROWSPAN=3 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ROWSPAN=3 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:36pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Total<BR>
Members'<BR>
Equity

<!-- COMMAND=ADD_SCROPPEDRULE,36pt -->

 </B></FONT></DIV></TH>
<TH ROWSPAN=3 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ROWSPAN=3 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:45pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Class&nbsp;A-1<BR>
Redeemable<BR>
Interest

<!-- COMMAND=ADD_SCROPPEDRULE,45pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ROWSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><B>(in thousands, except per interest data)</B></FONT><BR></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:47pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Accumulated<BR>
Deficit

<!-- COMMAND=ADD_SCROPPEDRULE,47pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:32pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Interests

<!-- COMMAND=ADD_SCROPPEDRULE,32pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:32pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Amounts

<!-- COMMAND=ADD_SCROPPEDRULE,32pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:32pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Interests

<!-- COMMAND=ADD_SCROPPEDRULE,32pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:32pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Amounts


<!-- COMMAND=ADD_SCROPPEDRULE,32pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"> Balance at December&nbsp;31, 2011</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,964,826</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">19,648</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">95,671,694</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">480,615</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(21,499</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(603</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">478,161</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">250,000</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Share based compensation</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,705,704</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">8,726</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">8,726</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Repurchase of Class&nbsp;A-2 interests</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(53,548</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(352</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(352</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Distribution to members</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(134,408</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(134,408</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Foreign exchange translation
adjustment&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">548</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">548</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Net income</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">87,560</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">87,560</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Balance at December&nbsp;31, 2012</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,964,826</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">19,648</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">97,323,850</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">488,989</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(68,347</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(55</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">440,235</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">250,000</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Share based compensation</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">2,223,814</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">13,441</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">13,441</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Repurchase of Class&nbsp;A-2 interests</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(88,319</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(573</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(573</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Distribution to members</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(245,517</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(187,883</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(433,400</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Foreign exchange translation
adjustment&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,382</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,382</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Net income</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">182,203</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">182,203</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Balance at December&nbsp;31, 2013</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,964,826</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">19,648</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">99,459,345</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">256,340</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(74,027</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,327</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">203,288</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">250,000</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Share-based compensation</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,992,556</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">15,953</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">15,953</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Repurchase of Class&nbsp;A-2 interests</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(1,596,235</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(2,295</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(4,621</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(6,916</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Temasek transaction described in Note&nbsp;13</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">17,707</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(62,140</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(44,433</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">44,433</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Distribution to members</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(140,652</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(140,652</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Foreign exchange translation
adjustment&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(5,032</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(5,032</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Net income</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">190,057</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">190,057</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Balance at December&nbsp;31, 2014</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,964,826</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">19,648</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">99,855,666</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">287,705</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(91,383</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(3,705</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">212,265</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">294,433</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>

<!-- end of user-specified TAGGED TABLE -->
 </DIV>

 <p style="font-family:arial;line-height:1pt;margin-left:18pt;"><font> </FONT> <FONT SIZE=2>
<!-- BLANK LINE TO FORCE PARA -->
&nbsp;&nbsp;&nbsp;
</font></p><p align=center style="font-family:arial;"><font> </FONT> <FONT SIZE=2>
See accompanying notes to the consolidated financial statements.</FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-11</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=193,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=5814,FOLIO='F-11',FILE='DISK108:[13ZDI1.13ZDI16701]FK16701A.;67',USER='WWASSER',CD='23-MAR-2015;15:53' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_fm16701_1_12"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="fm16701_virtu_financial_llc_and_subsid__vir04134"> </A>
<A NAME="toc_fm16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  <A NAME="CF2"></A>Virtu Financial&nbsp;LLC and Subsidiaries<BR>  <BR>    Consolidated Statements of Cash Flows for the<BR>  Years Ended December&nbsp;31, 2014, 2013 and 2012    <BR>    </B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->


<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="4pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="44pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="4pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="44pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="4pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="44pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>For the Years Ended December&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><B>(In thousands)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:16pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2014

<!-- COMMAND=ADD_SCROPPEDRULE,16pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:16pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2013


<!-- COMMAND=ADD_SCROPPEDRULE,16pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:16pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2012

<!-- COMMAND=ADD_SCROPPEDRULE,16pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B> Cash flows from operating activities</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Net Income</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">190,057</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">182,203</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">87,560</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Adjustments to reconcile net income to net cash provided by operating activities:</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Depreciation and amortization</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">30,441</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">23,922</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">17,975</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Amortization of purchased intangibles and acquired capitalized software</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">211</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,011</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">71,654</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Impairment of intangible assets</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,489</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Debt issue cost related to debt refinancing</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">10,022</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Amortization of debt discount and deferred financing fees</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,334</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">3,861</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">4,278</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Lease abandonment</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">3,255</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Share based compensation</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">14,234</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">13,441</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">8,398</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Equipment writeoff</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">378</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,968</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">109</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Other</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(2,204</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">240</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(427</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Changes in operating assets and liabilities:</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:28pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Securities borrowed</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">223,169</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(278,784</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">137,790</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:28pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Securities purchased under agreements to resell</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">131,145</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(92,526</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(66,497</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:21pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Receivables from broker-dealers and clearing organizations</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">40,089</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(61,598</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">199,935</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:21pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Trading assets, at fair value</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">259,105</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(290,848</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(119,721</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:21pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Other Assets ($8,205 and $7,138, at the fair value, as of December&nbsp;31, 2014 and 2013, respectively)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">2,751</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(665</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(1,957</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:21pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Securities loaned</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(531,450</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">291,984</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">2,767</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:21pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Securities sold under agreements to repurchase</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(8,877</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(4,051</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">14,934</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:21pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Payables to broker-dealers and clearing organizations</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">155,974</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">277,721</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(214,455</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:21pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Accounts payable and accrued expenses and other liabilities</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">7,120</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">508</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">3,479</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:21pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Trading liabilities, at fair value</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(240,778</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">180,952</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">9,880</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:28pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Net cash provided by operating activities</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">272,699</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">259,361</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">160,446</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:8pt;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Cash flows from investing activities</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Development of capitalized software</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(8,039</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(10,085</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(11,224</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Acquisition of property and equipment</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(28,120</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(21,931</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(15,832</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Acquisition of Nyenburgh Holding&nbsp;B.V.&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(1,300</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:28pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Net cash used in investing activities</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(36,159</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(32,016</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(28,356</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Cash flows from financing activities</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Member distributions</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(140,652</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(433,400</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(134,408</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Proceeds from Issuance of Class&nbsp;A-2 interests in connection with the Temasek transaction described in Note&nbsp;13</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">3,048</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Repurchase of Class&nbsp;A-2 interests in connection with the Temasek transaction described in Note&nbsp;13</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(3,048</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Repurchase of Class&nbsp;A-2 interests</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(916</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(573</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(352</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Proceeds from short term borrowings</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">54,000</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Repayment of short term borrowings</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(72,800</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(7,200</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Proceeds from senior secured credit facility</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">253,792</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Repayment of senior secured credit facility</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(7,286</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(6,717</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(48,000</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Debt issuance costs</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(8,597</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:28pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Net cash used in financing activities</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(221,654</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(202,695</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(128,760</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:8pt;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Effect of exchange rate changes on Cash and cash equivalents</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><BR>
(5,032</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><BR>)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><BR>
1,382</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><BR>
548</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Net increase in Cash and cash equivalents</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">9,854</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">26,032</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">3,878</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Cash and cash equivalents, beginning of period</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">66,010</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">39,978</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">36,100</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Cash and cash equivalents, end of period</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">75,864</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">66,010</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">39,978</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Supplementary disclosure of cash flow information</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Cash paid for interest</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">61,293</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">44,848</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">52,106</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Cash paid for taxes</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">3,764</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">4,559</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">11,214</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:8pt;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Non-cash investing activities</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Compensation to developers subject to capitalization of software (of which $1,719, $1,633 and $1,828 were capitalized for the years ended 2014, 2013, and
2012, respectively)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">5,112</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">4,459</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">3,147</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:8pt;margin-left:7pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;"><B>Non-cash financing activities</B></FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Issuance of Class&nbsp;A-2 interests from business combination described in Note&nbsp;3</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">328</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Discount on issuance of senior secured credit facility</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">2,925</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Temasek transaction described in Note&nbsp;13</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:14pt;text-indent:-7pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Repurchase of Class&nbsp;A-2 interests</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(6,000</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>

<!-- end of user-specified TAGGED TABLE -->
 </DIV>

 <p style="font-family:arial;line-height:1pt;margin-left:18pt;"><font> </FONT> <FONT SIZE=2>
<!-- BLANK LINE TO FORCE PARA -->
&nbsp;&nbsp;&nbsp;
</font></p><p align=center style="font-family:arial;"> <FONT SIZE=2>
See accompanying notes to the consolidated financial statements.</FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-12</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=194,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=440866,FOLIO='F-12',FILE='DISK108:[13ZDI1.13ZDI16701]FM16701A.;64',USER='WWASSER',CD='23-MAR-2015;15:53' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_fo16701_1_13"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="notes2"></A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="fo16701_virtu_financial_llc_and_subsid__vir03214"> </A>
<A NAME="toc_fo16701_1"> </A></FONT> <FONT SIZE=2><B><BR>  Virtu Financial&nbsp;LLC and Subsidiaries    <BR>    <BR>    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS    <BR>    </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> 1. Organization and Basis of Presentation  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> <U>Organization</U>  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Virtu Financial&nbsp;LLC ("VF" or, collectively with its wholly owned subsidiaries, the "Company") was formed as a Delaware limited
liability company on April&nbsp;8, 2011 in connection with a corporate reorganization and acquisition of the outstanding equity interests of Madison Tyler Holdings,&nbsp;LLC ("MTH"), an electronic
trading firm and market maker. In connection with the reorganization, the members of VF's predecessor entity, Virtu Financial Operating&nbsp;LLC ("VFO"), a Delaware limited liability company formed
on March&nbsp;19, 2008, exchanged their interests in VFO for interests in VF and the members of MTH exchanged their interests in MTH for cash and/or interests in VF. VF's principal subsidiaries
include Virtu Financial BD&nbsp;LLC ("VFBD"), a self-clearing US broker-dealer, Virtu Financial Capital Markets&nbsp;LLC ("VFCM"), a self-clearing US broker-dealer and designated market maker on
the New York Stock Exchange ("NYSE") and the NYSE MKT (formerly NYSE Amex) and other proprietary trading firms, including Virtu Financial Global Markets&nbsp;LLC ("VFGM"), Virtu Financial Europe
Limited ("VFE"), Virtu Financial Ireland Limited ("VFIL"), incorporated in Ireland, Virtu Financial Asia Pty&nbsp;Ltd. ("VFAP"), incorporated in Australia, and Virtu Financial
Singapore Pte.&nbsp;Ltd. ("VFSing"), incorporated in Singapore. VFCM became a designated market maker ("DMM") in connection with its acquisition of certain assets of Cohen Capital Group&nbsp;LLC
("CCG") on December&nbsp;9, 2011. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company is a technology-enabled market maker and liquidity provider. The Company has developed a single, proprietary, multi-asset, multi-currency technology platform through which
it provides quotations to buyers and sellers in equities, commodities, currencies, options, fixed income and other securities on numerous exchanges, markets and liquidity pools in numerous countries
around the world. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company is managed and operated as one business. Accordingly, the Company operates under one reportable segment. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Pro Forma Impact of Distributions in Connection with Initial Public Offering (unaudited)  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company made cash distributions to its equityholders of $50.0 million, $20.0&nbsp;million and
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million in
January, February and March 2015, respectively (funded from cash on hand). Additionally, prior to the consummation of Virtu Financial,&nbsp;Inc.'s initial public offering, the Company intends to
make a further cash distribution of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million to its members. The Company expects that this further distribution will be funded from cash on hand. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Basis of Presentation  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The accompanying Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles
("U.S.&nbsp;GAAP"). </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic
and diluted earnings per share are not presented since the ownership structure of the Company does not include a common unit of ownership. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> Principles of Consolidation  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The consolidated financial statements include the accounts of VF and its wholly owned subsidiaries. All intercompany balances and
transactions have been eliminated in consolidation. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-13</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=195,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=301717,FOLIO='F-13',FILE='DISK108:[13ZDI1.13ZDI16701]FO16701A.;117',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<A NAME="page_fo16701_1_14"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 2. Summary of Significant Accounting Policies  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Use of Estimates  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company's consolidated financial statements are prepared in conformity with U.S.&nbsp;GAAP, which require management to make
estimates and assumptions regarding fair value measurements including trading assets and liabilities, goodwill and intangibles, compensation accruals, capitalized software, and other matters that
affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and
expenses during the reporting period. Accordingly, actual results could differ materially from those estimates. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Cash and Cash Equivalents  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company considers cash equivalents as highly liquid investments with original maturities of less than three months when acquired.
The Company maintains cash in bank deposit accounts that, at times, may exceed federally insured limits. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Securities Borrowed and Securities Loaned  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company conducts securities borrowing and lending activities with external counterparties. In connection with these transactions,
the Company receives or posts collateral in connection with securities loaned or borrowed transactions. These transactions are collateralized by cash or securities. In accordance with substantially
all of its stock borrow agreements, the Company is permitted to sell or repledge the securities received. Securities borrowed or loaned are recorded based on the amount of cash collateral advanced or
received. The initial collateral advanced or received generally approximates or is greater than 102% of the fair value of the underlying securities borrowed or loaned. The Company monitors the fair
value of securities borrowed and loaned, and delivers or obtains additional collateral as appropriate. Receivables and payables with the same counterparty are not offset in the consolidated statements
of financial condition. For these transactions, the interest received or paid by the Company is recorded gross on an accrual basis under interest and dividends income or interest and dividends expense
in the consolidated statements of comprehensive income. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Securities Purchased Under Agreements to Resell and Securities Sold Under Agreements to Repurchase  </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In a repurchase agreement, securities sold under agreements to repurchase are treated as collateralized financing transactions and are
recorded at contract value, plus accrued interest, which approximates fair value. It is the Company's policy that its custodian takes possession of the underlying collateral securities, the fair value
of which exceeds the principal amount of the repurchase transaction, including accrued interest. For reverse repurchase agreements, the Company typically requires delivery of collateral with a fair
value approximately equal to the carrying value of the relevant assets in the consolidated statements of financial condition. To ensure that the fair value of the underlying collateral remains
sufficient, the collateral is valued daily with additional collateral obtained or excess collateral returned, as permitted under contractual provisions. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-14</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=196,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=882026,FOLIO='F-14',FILE='DISK108:[13ZDI1.13ZDI16701]FO16701A.;117',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<A NAME="page_fo16701_1_15"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 2. Summary of Significant Accounting Policies (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company does not net securities purchased under agreements to resell transactions with securities sold under agreements to repurchase transactions entered into with the same
counterparty. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Receivables from/Payables to Broker-dealers and Clearing Organizations  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amounts receivable from broker-dealers and clearing organizations may be restricted to the extent that they serve as deposits for
securities sold, not yet purchased. At December&nbsp;31, 2014 and 2013, receivables from and payables to broker-dealers and clearing organizations primarily represent amounts due for unsettled
trades, open equity in futures transactions, securities failed to deliver or failed to receive, deposits with clearing organizations or exchanges and balances due from or due to prime brokers in
relation to the Company's trading. The Company also offsets the outstanding principal balances on all short term credit facilities against amounts receivable from and payable to broker-dealers and
clearing organizations when the criteria for offsetting are met. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the normal course of business, substantially all of the Company's securities transactions, money balances, and security positions are transacted with several brokers. The Company is
subject to credit risk to the extent any broker with whom it conducts business is unable to fulfill contractual obligations on its behalf. The Company's management monitors the financial condition of
such brokers and does not anticipate any losses from these counterparties. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Financial Instruments Owned Including Those Pledged as Collateral and Financial Instruments Sold, Not Yet Purchased  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company carries financial instruments owned, including those pledged as collateral, and financial instruments sold, not yet
purchased at fair value. Gains and losses arising from financial instrument transactions are recorded net on a trade-date basis in trading income on the consolidated statements of comprehensive
income. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Fair Value Measurements  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At December&nbsp;31, 2014 and 2013, substantially all of Company's financial assets and liabilities, except for long-term borrowings
and certain exchange memberships, were carried at fair value based on published market prices and are marked to market daily or were short-term in nature and were carried at amounts that approximate
fair value. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company's assets and liabilities have been categorized based upon a fair value hierarchy in accordance with the Financial Accounting Standards Board ("FASB") Accounting Standards
Codification ("ASC") 820-10, </FONT><FONT SIZE=2><I>Fair Value Measurements and Disclosures</I></FONT><FONT SIZE=2>. ASC 820-10 defines fair value as the price that would be received to sell an asset
or would be paid to transfer a liability (i.e.,&nbsp;the exit price) in an orderly transaction between market participants at the measurement date. Fair value measurements are not adjusted for
transaction costs. The recognition of "block discounts" for large holdings of unrestricted financial instruments where quoted prices are readily and regularly available in an active market is
prohibited. ASC 820-10 requires a three level hierarchy which prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy level assigned to each financial instrument is
based on the assessment of the transparency and reliability of the inputs used in the valuation of such financial instruments at the measurement date based on the lowest level of input that is
significant to the fair value measurement. The hierarchy gives the </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-15</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=197,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=565198,FOLIO='F-15',FILE='DISK108:[13ZDI1.13ZDI16701]FO16701A.;117',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<A NAME="page_fo16701_1_16"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 2. Summary of Significant Accounting Policies (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>highest
priority to unadjusted quoted prices in active markets for identical assets or liabilities (level&nbsp;1 measurement) and the lowest priority to unobservable inputs (level&nbsp;3
measurements). </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial
instruments measured and reported at fair value are classified and disclosed in one of the following categories based on inputs: </FONT></P>

<UL>

<P style="font-family:arial;"><FONT SIZE=2>Level&nbsp;1&nbsp;&#151;
Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>Level&nbsp;2&nbsp;&#151;
Quoted prices in markets that are not active and financial instruments for which all significant inputs are observable, either directly or indirectly; </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>Level&nbsp;3&nbsp;&#151;
Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable. </FONT></P>

</UL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transfers
in or out are recognized based on the beginning fair value of the period in which they occurred. There were no transfers of financial instruments between levels during the
years ended December&nbsp;31, 2014 and 2013. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Derivative Instruments  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Derivative instruments used for trading purposes, including economic hedges of trading instruments, are carried at fair value. Fair
values for exchange-traded derivatives, principally futures, are based on quoted market prices. Fair values for over-the-counter derivative instruments, principally forward contracts, are based on the
values of the underlying financial instruments within the contract. The underlying derivative instruments are currencies which are actively traded. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Derivative
instruments used for economic hedging purposes include futures, forward contracts, and options. Unrealized gains or losses on these derivative instruments are recognized
currently in the consolidated statements of comprehensive income as trading income, net. The Company does not apply hedge accounting as defined in FASB ASC 815, </FONT><FONT SIZE=2><I>Derivatives and
Hedging</I></FONT><FONT SIZE=2>; accordingly all derivative instruments are recorded at fair value with changes in fair values reflected in earnings. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> Property and Equipment  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property and equipment are carried at cost, less accumulated depreciation, except for the assets acquired in connection with the
acquisition of MTH which were recorded at fair value on the date of acquisition. Depreciation is provided using the straight-line method over estimated useful lives of the underlying asset. Routine
maintenance, repairs and replacement costs are expensed as incurred and improvements that appreciably extend the useful life of the assets are capitalized. When property and equipment are sold or
otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in income. Property and equipment are reviewed for
impairment whenever events or changes in circumstances indicate that the related carrying amount may not be recoverable. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
useful lives of furniture and fixtures are as follows: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="39%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="39%" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><FONT SIZE=2>Furniture, fixtures and equipment</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>3 to 7&nbsp;years</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>Leasehold improvements</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>7&nbsp;years or length of lease term, whichever is shorter</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-16</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=198,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=165702,FOLIO='F-16',FILE='DISK108:[13ZDI1.13ZDI16701]FO16701A.;117',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<A NAME="page_fo16701_1_17"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 2. Summary of Significant Accounting Policies (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Capitalized Software  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company accounts for the costs of computer software developed or obtained for internal use in accordance with ASC 350-40, </FONT> <FONT SIZE=2><I>Internal-Use
Software</I></FONT><FONT SIZE=2>. The Company capitalizes costs of materials, consultants and payroll and payroll related costs for employees incurred in
developing internal-use software. Costs incurred during the preliminary project and post-implementation stages are charged to expense. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management's
judgment is required in determining the point at which various projects enter the stages at which costs may be capitalized, in assessing the ongoing value of the
capitalized costs, and in determining the estimated useful lives over which the costs are amortized. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company's capitalized software development costs were approximately $9.8&nbsp;million, $10.1&nbsp;million and $11.2&nbsp;million for the years ended December&nbsp;31, 2014,
2013 and 2012, respectively, with related amortization expense of approximately $10.4&nbsp;million, $11.0&nbsp;million and $9.4&nbsp;million for the
years ended December&nbsp;31, 2014, 2013 and 2012, respectively. Capitalized software development costs and related accumulated amortization are included in property, equipment and capitalized
software on the accompanying consolidated statements of financial condition and are amortized over a period of 1.4 to 2.5&nbsp;years, which represents the estimated useful lives of the underlying
software. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Goodwill  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodwill represents the excess of the purchase price over the underlying net tangible and intangible assets of our acquisitions.
Goodwill is not amortized but is tested for impairment on an annual basis and between annual tests whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.
Goodwill is tested at the reporting unit level, which is defined as an operating segment or one level below the operating segment. We operate in one operating segment, which is our only reporting
unit. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
goodwill impairment test is a two-step process. The first step is used to identify potential impairment and compares the fair value of a reporting unit with its carrying amount,
including goodwill. If the carrying amount of a reporting unit exceeds its fair value, the second step of the goodwill impairment test must be performed. The second step is used to measure the amount
of impairment loss, if any, and compares the implied fair value of reporting unit goodwill with the carrying amount of that goodwill. If the carrying amount of reporting unit goodwill exceeds the
implied fair value of that goodwill, an impairment loss must be recognized in an amount equal to that excess. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
primary valuation methods we use to estimate the fair value of our reporting unit are the income and market approaches. In applying the income approach, projected available cash
flows and the terminal value are discounted to present value to derive an indication of fair value of the business enterprise. The market approach compares the reporting unit to selected reasonably
similar publicly-traded companies. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company tests goodwill for impairment on an annual basis on July&nbsp;1 and on an interim basis when certain events or circumstances exist. Based on the results of the annual
impairment tests performed, no goodwill impairment was recognized during the years ended December&nbsp;31, 2014, 2013 and 2012, respectively. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-17</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=199,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=840717,FOLIO='F-17',FILE='DISK108:[13ZDI1.13ZDI16701]FO16701A.;117',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<A NAME="page_fo16701_1_18"> </A>


<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 2. Summary of Significant Accounting Policies (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Intangible Assets  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company amortizes finite-lived intangible assets over their estimated useful lives. Finite-lived intangible assets are tested for
impairment annually or when impairment indicators are present, and if impaired, written down to fair value. As a result of the acquisition of certain assets from CCG, the Company previously recorded
an identifiable intangible asset, the rights for CCG to act as a DMM on the NYSE and the NYSE MKT (formerly NYSE Amex) (the "DMM" rights). The Company determined that the DMM rights were fully
impaired as of December&nbsp;31, 2012 and has written down the $1.5&nbsp;million of remaining value of these assets to zero on its consolidated statements of comprehensive income for the year
ended December&nbsp;31, 2012. The Company has no indefinite-lived intangibles. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Exchange Memberships and Stock  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exchange memberships are recorded at cost or, if any other than temporary impairment in value has occurred, at a value that reflects
management's estimate of fair value, in accordance with ASC 940-340, </FONT><FONT SIZE=2><I>Financial Services &#151; Broker and Dealers</I></FONT><FONT SIZE=2>. Exchange stock includes shares
that the Company is required to hold in order to maintain certain trading privileges. The shares are marked to market with the corresponding gain or loss recorded in the consolidated statements of
comprehensive income. During the years ended December&nbsp;31, 2014, 2013 and 2012, respectively, the Company recorded an impairment charge of $0, $0.6&nbsp;million and $0.4&nbsp;million on its
membership seats which is recorded in operations and administrative expenses on the consolidated statements of comprehensive income. The Company's exchange memberships and stock are included in other
assets on the consolidated statements of financial condition. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Trading Income  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trading income consists of trading gains and losses that are recorded on a trade date basis and reported on a net basis. Trading
income is comprised of changes in the fair value of trading assets and liabilities (i.e.,&nbsp;unrealized gains and losses) and realized gains and losses on trading assets and liabilities. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Interest and Dividends Income/Interest and Dividends Expense  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest income and interest expense are accrued in accordance with contractual rates. Interest income consists of interest earned on
collateralized financing arrangements and on cash held by brokers. Interest expense includes interest expense from collateralized transactions, margin and related lines of credit. Dividends on
financial instruments owned including those pledged as collateral and financial instruments sold, not yet purchased are recorded on the ex-dividend date and interest is recognized on the accrual
basis. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Technology Services  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Technology services revenues consist of fees paid by third parties for licensing of our proprietary risk management and trading
infrastructure technology and provision of associated management and hosting services. These fees include both upfront and annual recurring fees. Revenue from technology services is recognized once
persuasive evidence of an arrangement </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-18</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=200,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=86564,FOLIO='F-18',FILE='DISK108:[13ZDI1.13ZDI16701]FO16701A.;117',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<A NAME="page_fo16701_1_19"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 2. Summary of Significant Accounting Policies (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>exists,
delivery has occurred, the fee is fixed or determinable and collectability is probable. Revenue is recognized ratably over the contractual service period. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Rebates  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rebates consist of volume discounts, credits or payments received from exchanges or other market places related to the placement
and/or removal of liquidity from the order flow in the marketplace. Rebates are recorded on an accrual basis and included net within brokerage, exchange and clearance fees in the accompanying
consolidated statements of comprehensive income. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Initial Public Offering Fees and Expenses  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Initial public offering fees and expenses reflect costs directly attributable to the Company's initial public offering process, which
was postponed in April 2014. The Company accounted for such costs in accordance with ASC 340-10, </FONT><FONT SIZE=2><I>Other Assets and Deferred Costs.</I></FONT><FONT SIZE=2> ASC 340 states that
costs directly attributable to a successfully completed offering of equity securities may be deferred and charged against the gross proceeds of the offering as a reduction of additional paid-in
capital, but for an offering postponed for a period greater than 90&nbsp;days, the offering costs must be charged as an expense in the period the offering process was postponed. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Transaction Advisory Fees and Expenses  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transaction advisory fees and expenses reflect professional fees incurred by the Company in connection with the Temasek Transaction,
which was consummated on December&nbsp;31, 2014, as described in Note&nbsp;13. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> Income Taxes  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company is a limited liability company and is treated as a pass-through entity for United States federal, state, and local income
tax purposes. Accordingly, no provision for income taxes is required. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain
of the Company's wholly owned subsidiaries are subject to income taxes in foreign jurisdictions. The provision for income tax is comprised of current tax and deferred tax.
Current tax represents the tax on current year tax returns, using tax rates enacted at the balance sheet date. A deferred tax asset is recognized only to the extent that it is probable that future
taxable income will be available against which the asset can be utilized. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company recognizes the tax benefit from an uncertain tax position, in accordance with ASC 740, Income Taxes only if it is more likely than not that the tax position will be
sustained on examination by the applicable taxing authority, including resolution of the appeals or litigation processes, based on the technical merits of the position. The tax benefits recognized in
the consolidated financial statements from such a position are measured based on the largest benefit for each such position that has a greater than fifty percent likelihood of being realized upon
ultimate
resolution. Many factors are considered when evaluating and estimating the tax positions and tax benefits. Such estimates involve interpretations of regulations, rulings, case law, etc. and are
inherently complex. The Company's estimates may require periodic adjustments and may not </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-19</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=7,SEQ=201,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=1002120,FOLIO='F-19',FILE='DISK108:[13ZDI1.13ZDI16701]FO16701A.;117',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<A NAME="page_fo16701_1_20"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 2. Summary of Significant Accounting Policies (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>accurately
anticipate actual outcomes as resolution of income tax treatments in individual jurisdictions typically would not be known for several years after completion of any fiscal year. The Company
has determined that there are no uncertain tax positions that would have a material impact on the Company's financial position as of December&nbsp;31, 2014 and 2013 or the results of operations for
the years ended December&nbsp;31, 2014, 2013 and 2012. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> Comprehensive Income and Foreign Currency Translation  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company's operating results are reported in the consolidated statements of comprehensive income pursuant to Accounting Standards
Update ("ASU") 2011-05, </FONT><FONT SIZE=2><I>Comprehensive Income</I></FONT><FONT SIZE=2>. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Comprehensive
income consists of two components: net income and other comprehensive income ("OCI"). OCI is comprised of revenues, expenses, gains and losses that are reported in the
comprehensive income section of the consolidated statements of comprehensive income, but are excluded from reported net income. The Company's OCI is comprised of foreign currency translation
adjustments. Assets and liabilities of operations having non-U.S. dollar functional currencies are translated at year-end exchange rates, and income statement accounts are translated at weighted
average exchange rates for the year. Gains and losses resulting from translating foreign currency financial statements, net of related tax effects, are reflected in other comprehensive income, a
separate component of members' equity. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Share-Based Compensation  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company accounts for share-based compensation transactions with employees under the provisions of ASC 718, </FONT> <FONT SIZE=2><I>Compensation: Stock
Compensation</I></FONT><FONT SIZE=2>. ASC 718 requires a share-based payment transaction with employees to be measured based on the fair value of equity
instruments issued. The fair value of awards issued for compensation is determined
by management, with the assistance of an independent third party valuation firm, using a projected annual forfeiture rate, where applicable, on the date of grant. The fair value of share based awards
granted to employees is expensed based on the vesting conditions. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Recent Accounting Pronouncements  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Balance Sheet (Topic 210)&nbsp;</I></B></FONT><FONT SIZE=2>&#151; In December 2011, the FASB issued ASU 2011-11, </FONT><FONT SIZE=2><I>Disclosures about Offsetting
Assets and
Liabilities</I></FONT><FONT SIZE=2>. The amended standard requires an entity to disclose information about offsetting and related arrangements to enable users of its financial statements to understand
the effect of those arrangements on its financial position. An entity is required to apply the amendments for annual reporting periods beginning on or after January&nbsp;1, 2013, and interim periods
within those annual periods. An entity should provide the disclosures required by those amendments retrospectively for all comparative periods presented. In January 2013, the FASB issued ASU 2013-01, </FONT> <FONT SIZE=2><I>Balance Sheet (Topic 210):
Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities,</I></FONT><FONT SIZE=2> which clarified that the scope of ASU 2011-11 is
limited to include derivatives accounted for in accordance with Topic 815, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing
and securities lending transactions that are either offset or subject to an enforceable master netting arrangement or similar agreement. The Company has adopted the provisions of ASU 2011-11 and </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-20</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=8,SEQ=202,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=644880,FOLIO='F-20',FILE='DISK108:[13ZDI1.13ZDI16701]FO16701A.;117',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<A NAME="page_fo16701_1_21"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 2. Summary of Significant Accounting Policies (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>the
adoption did not have a material impact on the consolidated financial statements of the Company other than additional disclosures. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Comprehensive Income&nbsp;</I></B></FONT><FONT SIZE=2>&#151; In February 2013, the FASB issued ASU&nbsp;2013-02, </FONT><FONT SIZE=2><I>Comprehensive
Income.</I></FONT><FONT SIZE=2> The amendment created new disclosure requirements requiring entities to report the effect of significant reclassifications out of accumulated other comprehensive income
on the respective line items in net income if the amount being reclassified is required under U.S.&nbsp;GAAP to be reclassified in its entirety to net income. The Company has retrospectively adopted
the provision of ASU 2013-02 on January&nbsp;1, 2013 and the adoption did not have a material impact on the consolidated financial statements of the Company other than additional disclosures. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income Taxes&nbsp;</I></B></FONT><FONT SIZE=2>&#151; In July 2013, the FASB issued an ASU to clarify the financial statement presentation of an unrecognized tax
benefit when a NOL
carryforward, a similar tax loss, or a tax credit carryforward exists. This ASU requires entities to present an unrecognized tax benefit as a reduction of a deferred tax asset for a NOL carryforward
whenever the NOL or tax credit carryforward would be available to reduce the additional taxable income or tax due if the tax position is disallowed. The ASU was effective for reporting periods
beginning after December&nbsp;15, 2013. The adoption of this ASU did not have an impact on the Company's Consolidated Financial Statements. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenue&nbsp;</I></B></FONT><FONT SIZE=2>&#151; In May 2014, the FASB issued ASU No.&nbsp;2014-09, </FONT><FONT SIZE=2><I>Revenue from Contracts with
Customers.</I></FONT><FONT SIZE=2> ASU 2014-09 is a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to a customer
at an amount that reflects the consideration it expects to receive in exchange for those goods or services. ASU 2014-09 also requires additional disclosure about the nature, amount, timing and
uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a
contract. ASU 2014-09 is effective for annual reporting periods, and interim periods within that period, beginning after December&nbsp;15, 2016, and for nonpublic entities for annual reporting
periods beginning after December&nbsp;15, 2017 (fiscal year 2018 for the Company) and early adoption is not permitted. Companies may use either a full retrospective or a modified retrospective
approach to adopt ASU 2014-09. The Company is currently evaluating the potential effects of the adoption of ASU 2014-09 on its Consolidated Financial Statements. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repurchase Agreements&nbsp;</I></B></FONT><FONT SIZE=2>&#151; In June, 2014, the FASB released ASU No.&nbsp;2014-11, </FONT><FONT SIZE=2><I>Repurchase-to-Maturity
Transactions,
Repurchase Financings, and Disclosures</I></FONT><FONT SIZE=2>. The amendment changes the accounting for repurchase financing transactions and for repurchase-to-maturity transactions to secured
borrowing accounting. The accounting changes are effective for the Company beginning in the first quarter of 2015. The effect of the accounting changes on transactions outstanding as of the effective
date are required to be presented as a cumulative effect adjustment to retained earnings as of January&nbsp;1, 2015. The Company is currently evaluating the impact of the new amendment but believes
the effect on the consolidated statements of financial condition and comprehensive income will be immaterial, as the Company currently does not enter into these types of repurchase transactions. The
amendment also requires additional disclosures for repurchase agreements and securities lending transactions regarding the class of collateral pledged and the remaining contractual tenor of the
agreements, as well as a discussion of the potential risks </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-21</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=9,SEQ=203,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=637386,FOLIO='F-21',FILE='DISK108:[13ZDI1.13ZDI16701]FO16701A.;117',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<A NAME="page_fo16701_1_22"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 2. Summary of Significant Accounting Policies (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>associated
with the agreements and the related collateral pledged, and how those risks are managed. Additional disclosures are required for repurchase agreements, securities lending transactions,
sales with a total return swap and other similar transfers of financial assets that are accounted for as a sale. The new disclosures are required to be presented beginning in the second quarter of
2015. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compensation&nbsp;</I></B></FONT><FONT SIZE=2>&#151;&nbsp;In June 2014, the Emerging Issues Task Force (the "EITF") of the FASB issued ASU 2014-12, </FONT> <FONT
SIZE=2><I>Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period</I></FONT><FONT SIZE=2>.
The amendment requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The ASU is effective for
annual periods and interim periods within those annual periods beginning after December&nbsp;15, 2015. Earlier adoption is permitted. The Company is currently evaluating the impact of this ASU on
its consolidated financial statements. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Going Concern&nbsp;</I></B></FONT><FONT SIZE=2>&#151;&nbsp;In August 2014, the FASB issued ASU 2014-15, </FONT><FONT SIZE=2><I>Disclosure of Uncertainties about an
Entity's
Ability to Continue as a Going Concern.</I></FONT><FONT SIZE=2> The guidance will explicitly require management to assess an entity's ability to continue as a going concern and to provide related
footnote disclosures in certain circumstances. The new standard will be effective in the first annual period ending after December&nbsp;15, 2016. Earlier adoption is permitted. The Company will
implement this new standard on the required effective date. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hybrid Financial Instruments&nbsp;</I></B></FONT><FONT SIZE=2>&#151;&nbsp;In November 2014, the EITF of the FASB issued ASU 2014-16, </FONT><FONT SIZE=2><I>Determining
Whether
the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share is More Akin to Debt or to Equity</I></FONT><FONT SIZE=2>. The ASU requires that for hybrid financial instruments
issued in the form of a share, an entity should determine the nature of the host contract by considering all stated and implied substantive terms and features of the hybrid financial instrument,
weighing each term and feature on the basis of relevant facts and circumstances. An entity should use judgment based on an evaluation of all the relevant terms and features, and should consider the
economic characteristics and risks of the entire hybrid financial instrument, including the embedded derivative feature that is being evaluated for separate accounting from the host contract. The ASU
is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December&nbsp;15, 2015. For all other entities, the amendments in this ASU
are effective for fiscal years beginning after December&nbsp;15, 2015 (fiscal year 2016 for the Company) and interim periods within fiscal years beginning after December&nbsp;15, 2016. Early
adoption, including adoption in an interim period, is permitted. The Company is currently evaluating the impact of this ASU on its consolidated financial statements. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-22</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=10,SEQ=204,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=452172,FOLIO='F-22',FILE='DISK108:[13ZDI1.13ZDI16701]FO16701A.;117',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_fq16701_1_23"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->





<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->




<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT> <FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 3. Acquisitions  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On September&nbsp;14, 2012, the Company acquired the European Exchange-traded funds ("ETF") Market Making assets of Nyenburgh Holding&nbsp;B.V., ("Nyenburgh") which include market
making relationships with European ETF issuers and trading relationships with over-the-counter counterparties. The total purchase of $2.3&nbsp;million was comprised of $1.9&nbsp;million in cash
and an
equity award to a shareholder of Nyenburgh with a fair value of $0.4&nbsp;million. The total purchase price was allocated to intangible assets of $1.9&nbsp;million and goodwill of
$0.4&nbsp;million. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 4. Goodwill and Intangible Assets  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The carrying amount of goodwill was $715.4&nbsp;million as of December&nbsp;31, 2014 and 2013, respectively. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
goodwill impairment was recognized in the years ended December&nbsp;31, 2014, 2013 and 2012. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquired
intangible assets consisted of the following as of December&nbsp;31, 2014 and 2013: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="56pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="82pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="81pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="78pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=10 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>As of December&nbsp;31, 2014 </B></FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2><B>(in thousands)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:41pt;"><FONT SIZE=2><B>Gross<BR>
Carrying<BR>
Amount

<!-- COMMAND=ADD_SCROPPEDRULE,41pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:62pt;"><FONT SIZE=2><B>Accumulated<BR>
Amortization

<!-- COMMAND=ADD_SCROPPEDRULE,62pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:61pt;"><FONT SIZE=2><B>Net Carrying<BR>
Amount

<!-- COMMAND=ADD_SCROPPEDRULE,61pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:59pt;"><FONT SIZE=2><B>Useful Lives<BR>
(Years)

<!-- COMMAND=ADD_SCROPPEDRULE,59pt -->

 </B></FONT></DIV></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Purchased technology</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>110,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>110,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>1.4 to 2.5</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>ETF issuer relationships</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>950</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>243</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>707</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>9</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>ETF buyer relationships</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>950</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>243</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>707</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>9</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>111,900</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>110,486</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,414</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;<BR></FONT></P>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="56pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="82pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="81pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="78pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=10 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>As of December&nbsp;31, 2013 </B></FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2><B>(in thousands)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:41pt;"><FONT SIZE=2><B>Gross<BR>
Carrying<BR>
Amount

<!-- COMMAND=ADD_SCROPPEDRULE,41pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:62pt;"><FONT SIZE=2><B>Accumulated<BR>
Amortization

<!-- COMMAND=ADD_SCROPPEDRULE,62pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:61pt;"><FONT SIZE=2><B>Net Carrying<BR>
Amount

<!-- COMMAND=ADD_SCROPPEDRULE,61pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:59pt;"><FONT SIZE=2><B>Useful Lives<BR>
(Years)

<!-- COMMAND=ADD_SCROPPEDRULE,59pt -->

 </B></FONT></DIV></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Purchased technology</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>110,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>110,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>1.4 to 2.5</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>ETF issuer relationships</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>950</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>137</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>813</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>9</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>ETF buyer relationships</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>950</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>137</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>813</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>9</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>111,900</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>110,274</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,626</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization
expense relating to finite-lived intangible assets was approximately $0.2&nbsp;million, $1.0&nbsp;million and $71.1&nbsp;million for the years ended
December&nbsp;31, 2014, 2013 and 2012, respectively, and is included in amortization of purchased intangibles and acquired capitalized software in the accompanying consolidated statements of
comprehensive income. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
discussed in Note&nbsp;2, the Company tested its intangible assets for impairment as of December&nbsp;31, 2012 and determined the DMM rights to be fully impaired and have written
down such assets to zero on its consolidated statements of comprehensive income for the year ended </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-23</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=205,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=444902,FOLIO='F-23',FILE='DISK108:[13ZDI1.13ZDI16701]FQ16701A.;146',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<A NAME="page_fq16701_1_24"> </A>


<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 4. Goodwill and Intangible Assets (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>December&nbsp;31,
2012. The Company had no impairment on its intangible assets for the years ended December&nbsp;31, 2014 or 2013. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 5. Receivables from/Payables to Broker-Dealers and Clearing Organizations  </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following is a summary of receivables from and payables to brokers-dealers and clearing organizations at December&nbsp;31, 2014 and 2013: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="56pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="56pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>December&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2><B>(in thousands)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2014

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2013


<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Assets</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Due from prime brokers</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>67,556</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>75,866</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Deposits with clearing organizations</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>29,595</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>37,692</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net equity with futures commission merchants</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>155,060</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>112,807</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Unsettled trades</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>55,929</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>94,967</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Securities failed to deliver</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>79,512</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>106,409</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total receivables from broker-dealers and clearing organizations</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>387,652</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>427,741</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Liabilities</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Due to prime brokers</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>313,623</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>247,485</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net equity with futures commission merchants</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>60,973</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>151,035</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Unsettled trades</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>311,322</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>131,491</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Securities failed to receive</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>285</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>218</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total payables to broker-dealers and clearing organizations</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>686,203</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>530,229</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Included
in "Due from prime brokers" and "Net equity with futures commission merchants" is the outstanding principal balance on all of the Company's short-term credit facilities in the
amount of $182.9&nbsp;million and $241.1&nbsp;million as of December&nbsp;31, 2014 and 2013, respectively. The loan proceeds from the credit facilities are available only to meet the initial
margin requirements associated with the Company's ordinary course futures and other trading positions, which are held in the Company's trading accounts with an affiliate of the respective financial
institutions. The credit facilities are fully collateralized and offset against the Company's trading accounts and deposit accounts with these financial institutions. "Securities failed to deliver"
and "Securities failed to receive" include amounts with a clearing organization and other broker-dealers. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 6. Collateralized Transactions  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company is permitted to sell or repledge securities received as collateral and use these securities to secure repurchase agreements, enter into securities lending transactions or
deliver these securities to counterparties or clearing organizations to cover short positions. At December&nbsp;31, 2014 and 2013, substantially all of the securities received as collateral have
been </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-24</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=206,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=1000795,FOLIO='F-24',FILE='DISK108:[13ZDI1.13ZDI16701]FQ16701A.;146',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<A NAME="page_fq16701_1_25"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 6. Collateralized Transactions (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>repledged.
Amounts relating to collateralized transactions at December&nbsp;31, 2014 and 2013 are summarized as follows: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="56pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="56pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>December&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2><B>(in thousands)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2014

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2013

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Securities received as collateral:</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Securities borrowed</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>470,553</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>690,450</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Securities purchased under agreements to resell</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>31,472</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>162,956</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>502,025</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>853,406</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the normal course of business, the Company pledges qualified securities with clearing organizations to satisfy daily margin and clearing fund requirements. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial
instruments owned and pledged, where the counterparty has the right to repledge, at December&nbsp;31, 2014 and 2013 consisted of the following: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="56pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="56pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>December&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2><B>(in thousands)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2014

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2013

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Equities</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>219,159</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>379,276</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Exchange traded notes</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>17,216</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>33,938</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>U.S. government obligations</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,965</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>236,375</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>415,179</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2><B> 7. Property, Equipment and Capitalized Software  </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property, equipment and capitalized software consisted of the following at December&nbsp;31, 2014 and 2013: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="56pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="54pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>December&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2><B>(in thousands)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2014

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2013

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Capitalized software costs</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>47,484</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>37,962</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Leasehold improvements</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>8,799</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>10,226</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Furniture and equipment</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>72,863</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>46,794</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Land</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>77</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>129,223</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>94,982</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Less: Accumulated depreciation and amortization</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(84,579</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(57,397</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total property, equipment and capitalized software, net</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>44,644</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>37,585</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation
expense for property and equipment for the years ended December&nbsp;31, 2014, 2013 and 2012 was approximately $20.0&nbsp;million, $12.9&nbsp;million and
$8.6&nbsp;million, respectively, and is included within depreciation and amortization expense in the accompanying consolidated statements of comprehensive income. Amortization expense for
capitalized software for years ended </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-25</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=207,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=596040,FOLIO='F-25',FILE='DISK108:[13ZDI1.13ZDI16701]FQ16701A.;146',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<A NAME="page_fq16701_1_26"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> 7. Property, Equipment and Capitalized Software (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>December&nbsp;31,
2014, 2013 and 2012 was approximately $10.4&nbsp;million, $11.0&nbsp;million and $9.4&nbsp;million, respectively, and is included within depreciation and amortization expense
in the accompanying consolidated statements of comprehensive income. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 8. Borrowings  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Broker-Dealer Credit Facilities  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company is a party to multiple credit facilities with a financial institution to finance overnight securities positions purchased
as part of its ordinary course broker-dealer market making activities. One of the facilities is provided on an uncommitted basis and is available for borrowings by the Company's broker-dealer
subsidiaries up to a maximum amount of $100.0&nbsp;million. In connection with this credit facility, the Company entered into a demand promissory note dated August&nbsp;8, 2012. The loans provided
under the facility are collateralized by the Company's broker-dealer trading and deposit accounts with the same financial institution and, in
the case of the uncommitted facilities, bears interest at a rate set by the financial institution on a daily basis (1.12% at December&nbsp;31, 2014 and 1.04% at December&nbsp;31, 2013). The
Company subsequently entered into another facility with the same financial institution dated July&nbsp;22, 2013 which is provided on a committed basis and is available for borrowings by one of the
Company's broker-dealer subsidiaries up to a maximum of the lesser of $50.0&nbsp;million or an amount determined based on agreed advance rates for pledged securities. The committed facility bears
interest at a rate per annum at the Company's election equal to either an adjusted LIBOR rate or base rate, plus a margin of 1.25% per annum. As of December&nbsp;31, 2014 and 2013, the outstanding
principal balance on the uncommitted facility was $0&nbsp;and $72.8&nbsp;million, respectively, which in each case was recorded within short-term borrowings in the accompanying consolidated
statements of financial condition. As of December&nbsp;31, 2014 and 2013, the Company did not have any outstanding principal balance on the committed facility. Interest expense for the years ended
December&nbsp;31, 2014 and 2013 was approximately $0.5&nbsp;million and $0.3&nbsp;million, respectively, and is included within interest and dividends expense in the accompanying consolidated
statements of comprehensive income. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company was a party to a broker-dealer credit facility with a financial institution to finance overnight securities positions purchased as part of its ordinary course broker-dealer
market making activities. In connection with this credit facility, the Company entered into a demand promissory note dated March&nbsp;20, 2009. The promissory note was payable on demand with the
outstanding balance being swept into a separate broker-dealer day loan credit facility with the same financial institution. The loan was collateralized by the Company's broker-dealer trading and
deposit accounts with the same financial institution and bore interest at rate set by the financial institution on a daily basis. Any balance that was not paid upon demand bore interest at the higher
of the rate in effect for such loan plus 2% or the prime rate plus 2%. The credit facility was terminated as of October&nbsp;5, 2012. Interest expense for the year ended December&nbsp;31, 2012 was
approximately $0.3&nbsp;million, and is included within interest and dividends expense in the accompanying consolidated statements of comprehensive income. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-26</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=208,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=565016,FOLIO='F-26',FILE='DISK108:[13ZDI1.13ZDI16701]FQ16701A.;146',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<A NAME="page_fq16701_1_27"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 8. Borrowings (Continued) </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> Short-Term Credit Facilities  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company entered into a credit facility with a financial institution on April&nbsp;26, 2010, amended on December&nbsp;10, 2010
and July&nbsp;1, 2011. The loan proceeds of the credit facility are available only for meeting the initial margin requirements associated with the Company's ordinary course futures trading positions
held in its trading account with an affiliate of the financial institution, and the amount available for borrowing is the lesser of $35.0&nbsp;million or 80% of the initial margin requirement. These
borrowings are collateralized by the Company's trading accounts and deposit accounts with the financial institution and its brokerage affiliate. The loan is payable on demand and interest on daily
unpaid principal balances bears interest at rate per annum quoted by the financial institution each day (2.05% at December&nbsp;31, 2014 and 1.68% at December&nbsp;31, 2013).
Any balance that is not paid upon demand bears interest at the higher of the rate in effect for such loan plus 2% or the prime rate plus 2%. As of December&nbsp;31, 2014 and 2013, the outstanding
principal balance on the line was approximately $26.7&nbsp;million and $13.3&nbsp;million, respectively, which was recorded within receivables from broker-dealers and clearing organizations in the
accompanying consolidated statements of financial condition. Interest expense for the years ended December&nbsp;31, 2014, 2013 and 2012 was approximately $0.5&nbsp;million, $0.5&nbsp;million and
$0.6&nbsp;million, respectively, and recorded within interest and dividends expense in the accompanying consolidated statements of comprehensive income. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company entered into a $200.0&nbsp;million credit facility with a financial institution on June&nbsp;29, 2011 which was increased to $300.0&nbsp;million on February&nbsp;17,
2012. The loan proceeds of the credit facility are available only for meeting margin requirements associated with the products traded by the Company in the ordinary course using the financial
institution's affiliate as its prime broker. The credit facility is collateralized by the Company's trading accounts for these products with the financial institution's affiliate and bears interest at
1.00% per annum in excess of the federal funds target rate of 0.25%. The credit facility is subject to certain financial covenants, including minimum account balances and loan ratios, as defined. The
outstanding principal balance on the line of credit was approximately $124.3&nbsp;million and $206.1&nbsp;million as of December&nbsp;31, 2014 and 2013, respectively, and recorded within
receivables from broker-dealers and clearing organizations in the accompanying consolidated statements of financial condition. Interest expense for the years ended December&nbsp;31, 2014, 2013 and
2012 was approximately $2.1&nbsp;million, $2.2&nbsp;million and $2.2&nbsp;million, respectively, and recorded within interest and dividends expense in the accompanying consolidated statements of
comprehensive income. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company entered into a credit facility with a financial institution on August&nbsp;8, 2011 with approximately $10.0&nbsp;million available for borrowing. The loan proceeds of
the credit facility are available only to finance the Company's ordinary course securities positions held in its trading account with the financial institution's affiliate. The credit facility is
collateralized by the securities held in such account and bears interest at the rate published by Bank of Mexico on business day immediately preceding the date on which the calculation is made. There
were no outstanding balances as of December&nbsp;31, 2014 and 2013. Interest expense for the years ended December&nbsp;31, 2014, 2013 and 2012 was approximately $0.1&nbsp;million,
$0.05&nbsp;million and $0, respectively, and recorded within interest and dividends expense in the accompanying consolidated statements of comprehensive income. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-27</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=209,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=144761,FOLIO='F-27',FILE='DISK108:[13ZDI1.13ZDI16701]FQ16701A.;146',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<A NAME="page_fq16701_1_28"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> 8. Borrowings (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company entered into a credit facility with a financial institution on March&nbsp;6, 2013 whereby the loan proceeds of the credit facility are available only for meeting the
initial margin requirements associated with the Company's ordinary course futures trading positions held in its trading account with an affiliate of the financial institution, and the amount available
for borrowing is the lesser of
$40.0&nbsp;million or 80% of the initial margin requirement. These borrowings are collateralized by the Company's trading accounts and deposit accounts with the financial institution and its
brokerage affiliate. The loan is payable on demand and interest on daily unpaid principal balances bears interest at 2.00% per annum in excess of the interest period average of daily opening federal
funds target rate (2.12% at December&nbsp;31, 2014 and 2.08% at December&nbsp;31, 2013, respectively). As of December&nbsp;31, 2014 and 2013, the outstanding principal balance on the line was
approximately $31.9&nbsp;million and $21.2&nbsp;million, respectively, which was recorded within receivables from broker-dealers and clearing organizations in the accompanying consolidated
statements of financial condition. Interest expense for the years ended December&nbsp;31, 2014 and 2013 was approximately $0.5&nbsp;million and $0.4&nbsp;million, respectively and recorded
within interest and dividends expense in the accompanying consolidated statements of comprehensive income. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company entered into a $20.0&nbsp;million credit facility with a financial institution on June&nbsp;24, 2014, amended on December&nbsp;1, 2014. The loan proceeds of the credit
facility are available only for meeting margin requirements associated with the products traded by the Company in the ordinary course using the financial institution's affiliate as its prime broker.
The credit facility is collateralized by the Company's trading accounts for these products with the financial institution's affiliate and bears interest at 1.10% per annum in excess of USD LIBOR. The
credit facility is subject to certain financial covenants, including minimum account balances and loan ratios, as defined. The outstanding principal balance on the line of credit was
$0.1&nbsp;million as of December&nbsp;31, 2014 and recorded within receivables from broker-dealers and clearing organizations in the accompanying consolidated statements of financial condition.
Interest expense for the year ended December&nbsp;31, 2014 was approximately $0.02&nbsp;million and recorded within interest and dividends expense in the accompanying consolidated statements of
comprehensive income. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company entered into a $3.0&nbsp;million credit facility with a financial institution on August&nbsp;6, 2014, which was increased to $5.0&nbsp;million on October&nbsp;17,
2014. The loan proceeds of the credit facility are available only to finance the Company's ordinary course securities positions held in its trading account with the financial institution's affiliate.
The credit facility is collateralized by the Company's trading accounts for these products with the financial institution's affiliate and bears interest at 9% per annum, subject to change by the
financial institution from time to time with at least ten business days' notice. There were no outstanding balances as of December&nbsp;31, 2014. Interest expense for the year ended
December&nbsp;31, 2014 was approximately $0.1&nbsp;million and recorded within interest and dividends expense in the accompanying consolidated statements of comprehensive income. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Senior Secured Credit Facility  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On July&nbsp;8, 2011, the Company funded a portion of the MTH acquisition with a term loan provided by a syndicate of financial
institutions in the amount of $320.0&nbsp;million to the Company's wholly owned subsidiary, VFH Parent&nbsp;LLC ("VFH"). The credit facility was issued at a discount of 2.0% of
$313.6&nbsp;million, net of $6.4&nbsp;million discount. The credit facility was initially subject to </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-28</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=210,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=423019,FOLIO='F-28',FILE='DISK108:[13ZDI1.13ZDI16701]FQ16701A.;146',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<A NAME="page_fq16701_1_29"> </A>


<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 8. Borrowings (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>quarterly
principal payments beginning on December&nbsp;31, 2011 with the unpaid principal payable on maturity on July&nbsp;8, 2016. Under the terms of the loan, VFH is subject to certain
financial covenants, including a total net leverage ratio and an interest coverage ratio, as defined in the credit agreement. VFH is also subject to contingent principal payments based on excess cash
flow, as defined in the credit agreement, and certain other triggering events. Borrowings are collateralized by substantially all the assets of the Company, other than the equity interests in and
assets of its registered broker-dealer and foreign subsidiaries, but including 100% of the non-voting stock and 65% of the voting stock of the Company's or its domestic subsidiaries' direct foreign
subsidiaries. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
credit facility was amended on February&nbsp;5, 2013, May&nbsp;1, 2013 and November&nbsp;8, 2013. The amendments resulted in a decreased interest rate, changes in certain
operating covenants, and an increase in principal amount outstanding by $150.0&nbsp;million on May&nbsp;1, 2013 and $106.7&nbsp;million on November&nbsp;8, 2013, respectively. Additionally,
the amendments reduced the annual amortization obligation from 15% of the original principal amount to approximately 1% of the outstanding principal amount as of November&nbsp;8, 2013, which was
$510.0&nbsp;million. The terms of the amended credit facility are otherwise substantially similar terms to the original credit facility, except as set forth below. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
credit facility bears interest at a rate per annum at the Company's election equal to either (i)&nbsp;the greatest of (a)&nbsp;the prime rate in effect, (b)&nbsp;the federal
funds effective rate (as defined in the credit agreement) plus 0.5% (c)&nbsp;the adjusted LIBOR rate (as defined in the credit agreement) for a Eurodollar borrowing with an interest period of one
month plus 1%, and (d)&nbsp;2.25% plus, in each case, 3.5%, or (ii)&nbsp;the greater of (x)&nbsp;the adjusted LIBOR rate for the interest period in effect and (y)&nbsp;1.25%, plus 4.5%.
Pursuant to the amendment, each incremental spread will be reduced by 0.50% upon the consummation of a qualifying initial public offering. The rate at December&nbsp;31, 2014 was 5.75%. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
a result of the amendments in 2013, the Company recognized a loss of $5.5&nbsp;million on extinguishment of a portion of its unamortized debt issue costs and debt discount for the
year ended December&nbsp;31, 2013, which is included within debt issue cost related to debt refinancing on the accompanying consolidated statements of comprehensive income. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aggregate
future required principal payments based on the terms of this loan at December&nbsp;31, 2014 were as follows: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="56pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2><B>(in thousands)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2015</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>2,914</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2016</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>5,100</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2017</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>5,100</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2018 and thereafter</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>489,600</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total maturities of long-term debt</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>502,714</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net
carrying amount of deferred financing fees capitalized in connection with the financing were approximately $5.1&nbsp;million and $6.0&nbsp;million, respectively, as of
December&nbsp;31, 2014 and 2013, which are included within other assets in the accompanying consolidated statements of financial condition. Amortization expense related to the deferred financing
fees was approximately $1.0&nbsp;million, $1.6&nbsp;million and $2.6&nbsp;million for the years ended December&nbsp;31, 2014, 2013 and 2012, respectively, and are </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-29</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=7,SEQ=211,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=805639,FOLIO='F-29',FILE='DISK108:[13ZDI1.13ZDI16701]FQ16701A.;146',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<A NAME="page_fq16701_1_30"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 8. Borrowings (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>included
within financing interest expense on senior secured credit facility in the accompanying consolidated statements of comprehensive income. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accretion
related to the net carrying amount of debt discount of $1.9&nbsp;million and $2.3&nbsp;million, respectively, as of December&nbsp;31, 2014 and 2013, was approximately
$0.4&nbsp;million, $0.7&nbsp;million and
$1.7&nbsp;million for the years ended December&nbsp;31, 2014, 2013 and 2012, and is included within financing interest expense on senior secured credit facility in the accompanying consolidated
statements of comprehensive income. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 9. Financial Assets and Liabilities  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At December&nbsp;31, 2014 and&nbsp;2013, substantially all of the Company's financial assets and liabilities, except for the senior secured credit facility and certain exchange
memberships, were carried at fair value based on published market prices and are marked to market daily or were short-term in nature and were carried at amounts that approximate fair value. The
Company determined that the carrying value of the Company's senior secured credit facility approximates fair value as of December&nbsp;31, 2014 and&nbsp;2013 based on the quoted over-the-counter
market prices provided by the issuer of the senior secured credit facility, which was categorized as Level&nbsp;2. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
fair value of equities, U.S. government obligations and exchange traded notes is estimated using recently executed transactions and market price quotations in active markets and are
categorized as Level&nbsp;1 with the exception of inactively traded equities which are categorized as Level&nbsp;2. Fair value of the Company's derivative contracts is based on the indicative
prices obtained from the banks that are counterparties to these contracts, as well as management's own analyses. The indicative prices have been independently validated through the Company's risk
management systems, which are designed to check prices with information independently obtained from exchanges and venues where such financial instruments are listed or to compare prices of similar
instruments with similar maturities for listed financial futures in foreign exchange. At December&nbsp;31, 2014 and 2013, the Company's derivative contracts have been categorized as Level&nbsp;2. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-30</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=8,SEQ=212,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=1019892,FOLIO='F-30',FILE='DISK108:[13ZDI1.13ZDI16701]FQ16701A.;146',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_fs16701_1_31"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->





<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->




<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT> <FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 9. Financial Assets and Liabilities (Continued)  </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transfers in or out of levels are recognized based on the beginning fair value of the period in which they occurred. There were no transfers of financial instruments between levels
during the years ended December&nbsp;31, 2014 and 2013. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fair
value measurements for those items measured on a recurring basis are summarized below as of December&nbsp;31, 2014: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:57%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"140%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="140%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="67pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="67pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="79pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="68pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="60pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2><B>(in thousands)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:50pt;"><FONT SIZE=2><B>Quoted<BR>
Prices<BR>
in Active<BR>
Markets for<BR>
Identical<BR>
Assets<BR>
(Level&nbsp;1)

<!-- COMMAND=ADD_SCROPPEDRULE,50pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:50pt;"><FONT SIZE=2><B>Significant<BR>
Other<BR>
Observable<BR>
Inputs<BR>
(Level&nbsp;2)

<!-- COMMAND=ADD_SCROPPEDRULE,50pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:60pt;"><FONT SIZE=2><B>Significant<BR>
Unobservable<BR>
Inputs<BR>
(Level&nbsp;3)

<!-- COMMAND=ADD_SCROPPEDRULE,60pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:38pt;"><FONT SIZE=2><B>Counter-<BR>
Party<BR>
Netting

<!-- COMMAND=ADD_SCROPPEDRULE,38pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>Total Fair<BR>
Value </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Assets</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Financial instruments owned, at fair value:</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Equity securities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,216,532</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>17,166</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,233,698</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>U.S. and non-U.S. government obligations</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>8,222</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>8,222</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Exchange traded notes</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>65,684</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>65,684</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Currency forwards</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,629,637</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2> (1,629,629)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>8</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Options</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>321</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>321</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,282,216</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,655,346</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2> $</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(1,629,629)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,307,933</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Financial instruments owned, pledged as collateral:</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Equity securities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>219,159</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>219,159</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Exchange traded notes</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>17,216</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>17,216</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>236,375</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>236,375</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Other Assets</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Exchange stock</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>8,205</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>8,205</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>8,205</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>8,205</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Liabilities</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Financial instruments sold, not yet purchased, at fair value:</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Equity securities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>859,835</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>47,896</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>907,731</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>U.S. and non-U.S. government obligations</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>21,107</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>21,107</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Exchange traded notes</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>92,513</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>92,513</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Currency forwards</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,645,820</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2> (1,629,629)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>16,191</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Options</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>79</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>79</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Interest rate swaps</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>12</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>12</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>973,455</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,693,807</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2> $</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(1,629,629)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,037,633</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-31</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=213,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=747920,FOLIO='F-31',FILE='DISK108:[13ZDI1.13ZDI16701]FS16701A.;210',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<A NAME="page_fs16701_1_32"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 9. Financial Assets and Liabilities (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fair value measurements for those items measured on a recurring basis are summarized below as of December&nbsp;31, 2013: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:54%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"150%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="150%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="73pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="73pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="87pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="60pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="67pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2><B>(in thousands)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:55pt;"><FONT SIZE=2><B>Quoted<BR>
Prices in<BR>
Active<BR>
Markets for<BR>
Identical<BR>
Assets<BR>
(Level&nbsp;1)

<!-- COMMAND=ADD_SCROPPEDRULE,55pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:55pt;"><FONT SIZE=2><B>Significant<BR>
Other<BR>
Observable<BR>
Inputs<BR>
(Level&nbsp;2)

<!-- COMMAND=ADD_SCROPPEDRULE,55pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:66pt;"><FONT SIZE=2><B>Significant<BR>
Unobservable<BR>
Inputs<BR>
(Level&nbsp;3)

<!-- COMMAND=ADD_SCROPPEDRULE,66pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:42pt;"><FONT SIZE=2><B>Counter-<BR>
Party<BR>
Netting

<!-- COMMAND=ADD_SCROPPEDRULE,42pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:44pt;"><FONT SIZE=2><B>Total Fair<BR>
Value

<!-- COMMAND=ADD_SCROPPEDRULE,44pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Assets</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Financial instruments owned, at fair value:</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Equity securities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,307,528</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>27,601</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,335,129</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>U.S. government obligations</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>13,760</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>13,760</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Exchange traded notes</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>21,817</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>21,817</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Currency forwards</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>179,650</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(163,070</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>16,580</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Options</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>948</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>948</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,343,105</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>208,199</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(163,070</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,388,234</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Financial instruments owned, pledged as collateral:</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Equity securities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>379,276</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>379,276</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>U.S. government obligations</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,965</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,965</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Exchange traded notes</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>33,938</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>33,938</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>415,179</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>415,179</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Other Assets</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Exchange stock</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>7,318</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>7,318</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>7,318</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>7,318</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Liabilities</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Financial instruments sold, not yet purchased, at fair value:</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Equity securities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,042,385</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>3,883</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,046,268</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>U.S. government obligations</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>198,464</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>198,464</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Exchange traded notes</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>31,642</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>31,642</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Currency forwards</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>163,070</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(163,070</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Options</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2,038</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2,038</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,272,491</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>168,991</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(163,070</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,278,412</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company adopted the guidance in ASU 2013-01, </FONT><FONT SIZE=2><I>Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and
Liabilities</I></FONT><FONT SIZE=2> for periods beginning after January&nbsp;1, 2013. This authoritative guidance requires companies to report disclosures of offsetting assets and liabilities. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-32</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=214,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=92298,FOLIO='F-32',FILE='DISK108:[13ZDI1.13ZDI16701]FS16701A.;210',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<A NAME="page_fs16701_1_33"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 9. Financial Assets and Liabilities (Continued) </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company does not net securities borrowed and securities loaned, or securities purchased under agreements to resell and securities sold under agreements to repurchase. These
securities are presented on a gross basis in the consolidated statements of financial condition. In the tables below, the amounts of financial instruments owned that are not offset in the consolidated
statements of financial condition, but could be netted against financial liabilities with specific counterparties under legally enforceable master netting agreements in the event of default, including
derivatives with clearing houses (options contracts) or over the counter currency forward contract counterparties, are presented to provide financial statement readers with the Company's estimate of
its net exposure to counterparties for these financial instruments. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following tables set forth the netting of certain financial assets and financial liabilities as of December&nbsp;31, 2014 and 2013, pursuant to the requirements of ASU 2011-11 and
ASU 2013-01. </FONT></P>
 <DIV style="padding:0pt;position:relative;width:54%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"150%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="150%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="60pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="79pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="91pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="61pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="50pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="41pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=17 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>December&nbsp;31, 2014 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=3 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=5 ROWSPAN=3 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Gross Amounts Not<BR>
Offset in the<BR>
Consolidated<BR>
Statement of<BR>
Financial Condition </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=3 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ROWSPAN=3 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:68pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Net Amounts of<BR>
Assets Presented<BR>
in the<BR>
Consolidated<BR>
Statement of<BR>
Financial<BR>
Condition

<!-- COMMAND=ADD_SCROPPEDRULE,68pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:60pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Gross Amounts<BR>
Offset in the<BR>
Consolidated<BR>
Statement of<BR>
Financial<BR>
Condition

<!-- COMMAND=ADD_SCROPPEDRULE,60pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:45pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Gross<BR>
Amounts of<BR>
Recognized<BR>
Assets

<!-- COMMAND=ADD_SCROPPEDRULE,45pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:46pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Financial<BR>
Instruments

<!-- COMMAND=ADD_SCROPPEDRULE,46pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:37pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Cash<BR>
Collateral<BR>
Received

<!-- COMMAND=ADD_SCROPPEDRULE,37pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:30pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Net<BR>
Amount

<!-- COMMAND=ADD_SCROPPEDRULE,30pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Offsetting of Financial Assets:</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Securities borrowed</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">484,934</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">484,934</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(477,559</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">7,375</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Securities purchased under agreements to resell</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">31,463</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">31,463</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(31,463</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Trading assets, at fair value:</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:24pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Currency forwards</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,629,637</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(1,629,629</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">8</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">8</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:24pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Options</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">321</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">321</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(76</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">245</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Total</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">2,146,355</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(1,629,629</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">516,726</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(509,098</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">7,628</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;<BR></FONT></P>
 <DIV style="padding:0pt;position:relative;width:54%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"150%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="150%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="60pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="79pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="91pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="61pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="50pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="41pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=3 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=5 ROWSPAN=3 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Gross Amounts Not<BR>
Offset in the<BR>
Consolidated<BR>
Statement of<BR>
Financial Condition </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=3 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ROWSPAN=3 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:60pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Net Amounts of<BR>
Liabilities<BR>
Presented<BR>
in the<BR>
Consolidated<BR>
Statement of<BR>
Financial<BR>
Condition

<!-- COMMAND=ADD_SCROPPEDRULE,60pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:60pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Gross Amounts<BR>
Offset in the<BR>
Consolidated<BR>
Statement of<BR>
Financial<BR>
Condition

<!-- COMMAND=ADD_SCROPPEDRULE,60pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:45pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Gross<BR>
Amounts of<BR>
Recognized<BR>
Liabilities

<!-- COMMAND=ADD_SCROPPEDRULE,45pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:46pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Financial<BR>
Instruments

<!-- COMMAND=ADD_SCROPPEDRULE,46pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:37pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Cash<BR>
Collateral<BR>
Pledged

<!-- COMMAND=ADD_SCROPPEDRULE,37pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:30pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Net<BR>
Amount

<!-- COMMAND=ADD_SCROPPEDRULE,30pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Offsetting of Financial Liabilities:</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Securities loaned</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">497,862</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">497,862</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(490,768</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(2,812</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">4,282</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Securities sold under agreements to repurchase</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">2,006</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">2,006</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(2,006</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Trading liabilities, at fair value:</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:24pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Currency forwards</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,645,820</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(1,629,629</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">16,191</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(16,191</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:24pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Options</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">79</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">79</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(79</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:24pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Interest rate swaps</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">12</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">12</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(12</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Total</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">2,145,779</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(1,629,629</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">516,150</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(492,853</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(19,015</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">4,282</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-33</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=215,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=38,FOLIO='F-33',FILE='DISK108:[13ZDI1.13ZDI16701]FS16701A.;210',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<A NAME="page_fs16701_1_34"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 9. Financial Assets and Liabilities (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;<BR></FONT></P>
 <DIV style="padding:0pt;position:relative;width:54%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"150%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="150%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="60pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="79pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="91pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="61pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="50pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="41pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=17 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>December&nbsp;31, 2013 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=3 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=5 ROWSPAN=3 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Gross Amounts Not<BR>
Offset in the<BR>
Consolidated<BR>
Statement of<BR>
Financial Condition </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=3 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ROWSPAN=3 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:68pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Net Amounts of<BR>
Assets Presented<BR>
in the<BR>
Consolidated<BR>
Statement of<BR>
Financial<BR>
Condition

<!-- COMMAND=ADD_SCROPPEDRULE,68pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:60pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Gross Amounts<BR>
Offset in the<BR>
Consolidated<BR>
Statement of<BR>
Financial<BR>
Condition

<!-- COMMAND=ADD_SCROPPEDRULE,60pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:70pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Gross Amounts of<BR>
Recognized<BR>
Assets

<!-- COMMAND=ADD_SCROPPEDRULE,70pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:46pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Financial<BR>
Instruments

<!-- COMMAND=ADD_SCROPPEDRULE,46pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:37pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Cash<BR>
Collateral<BR>
Received

<!-- COMMAND=ADD_SCROPPEDRULE,37pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:30pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Net<BR>
Amount

<!-- COMMAND=ADD_SCROPPEDRULE,30pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Offsetting of Financial Assets:</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Securities borrowed</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">708,103</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">708,103</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(700,246</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">7,857</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Securities purchased under agreements to resell</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">162,608</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">162,608</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(162,608</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Trading assets, at fair value:</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:24pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Currency forwards</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">179,650</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(163,070</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">16,580</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(16,580</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:24pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Options</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">948</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">948</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(948</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Total</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,051,309</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(163,070</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">888,239</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(863,802</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(16,580</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">7,857</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;<BR></FONT></P>
 <DIV style="padding:0pt;position:relative;width:54%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"150%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="150%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="60pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="79pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="91pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="61pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="50pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="41pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=4 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=5 ROWSPAN=4 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Gross Amounts Not<BR>
Offset in the<BR>
Consolidated<BR>
Statement of<BR>
Financial Condition </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=4 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ROWSPAN=4 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:60pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Net Amounts of<BR>
Liabilities<BR>
Presented<BR>
in the<BR>
Consolidated<BR>
Statement of<BR>
Financial<BR>
Condition

<!-- COMMAND=ADD_SCROPPEDRULE,60pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=3 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ROWSPAN=3 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:60pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Gross Amounts<BR>
Offset in the<BR>
Consolidated<BR>
Statement of<BR>
Financial<BR>
Condition

<!-- COMMAND=ADD_SCROPPEDRULE,60pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:45pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Gross<BR>
Amounts of<BR>
Recognized<BR>
Liabilities

<!-- COMMAND=ADD_SCROPPEDRULE,45pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:46pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Financial<BR>
Instruments

<!-- COMMAND=ADD_SCROPPEDRULE,46pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:60pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Cash Collateral<BR>
Pledged

<!-- COMMAND=ADD_SCROPPEDRULE,60pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:30pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Net<BR>
Amount

<!-- COMMAND=ADD_SCROPPEDRULE,30pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Offsetting of Financial Liabilities:</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Securities loaned</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,029,312</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,029,312</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(1,029,215</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">97</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Securities sold under agreements to repurchase</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">10,883</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">10,883</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(10,883</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:16pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Trading liabilities, at fair value:</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:24pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Currency forwards</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">163,070</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(163,070</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:24pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Options</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">2,038</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">2,038</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(2,027</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(11</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:8pt;text-indent:-8pt;"><FONT  style="font-size:8pt;line-height:9pt;"> </FONT><FONT  style="font-size:8pt;line-height:9pt;">Total</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,205,303</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(163,070</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">1,042,233</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(1,042,125</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">(11</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">97</FONT></TD>
<TD style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Excluded from the fair value and offsetting tables above is net unsettled fair value on long and short futures contracts in the amounts of
$46.4&nbsp;million and $(27.3)&nbsp;million, which are included within receivables from broker-dealers and clearing organizations as of December&nbsp;31, 2014 and 2013, respectively, and
$(3.6)&nbsp;million and $(3.4)&nbsp;million, which are included within payables to broker-dealers and clearing organizations as of December&nbsp;31, 2014 and 2013, respectively. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-34</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=216,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=59056,FOLIO='F-34',FILE='DISK108:[13ZDI1.13ZDI16701]FS16701A.;210',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<A NAME="page_fs16701_1_35"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> 10. Derivative Instruments  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The fair value of the Company's derivative instruments on a gross basis consisted of the following at December&nbsp;31, 2014 and 2013: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="17%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="35%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="60pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="73pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="51pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="67pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>2014 </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>2013 </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2><B>(in thousands)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:24pt;"><FONT SIZE=2><B>Fair<BR>
Value

<!-- COMMAND=ADD_SCROPPEDRULE,24pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH ROWSPAN=2 style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ROWSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:24pt;"><FONT SIZE=2><B>Fair<BR>
Value

<!-- COMMAND=ADD_SCROPPEDRULE,24pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:80pt;"><FONT SIZE=2><B>Derivatives Assets

<!-- COMMAND=ADD_SCROPPEDRULE,80pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:124pt;"><FONT SIZE=2><B>Balance Sheet Classification


<!-- COMMAND=ADD_SCROPPEDRULE,124pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:36pt;"><FONT SIZE=2><B>Notional

<!-- COMMAND=ADD_SCROPPEDRULE,36pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:36pt;"><FONT SIZE=2><B>Notional

<!-- COMMAND=ADD_SCROPPEDRULE,36pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Equities futures</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>Receivables from broker-dealers and clearing organizations</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>241</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>561,029</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(2,719</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>232,352</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Commodity&nbsp;futures</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>Receivables from broker-dealers and clearing organizations</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>42,489</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>28,823,081</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(29,642</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>38,681,821</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Currency futures</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>Receivables from broker-dealers and clearing organizations</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>3,180</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2,916,222</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>5,028</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2,281,524</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Treasury futures</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>Receivables from broker-dealers and clearing organizations</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>504</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>857,363</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>4</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>203,966</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Options</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>Financial instruments owned</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>321</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>39,802</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>948</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>105,353</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Currency forwards</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>Financial instruments owned</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,629,637</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>127,021,198</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>179,650</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>59,513,182</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;<BR></FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="17%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="35%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="60pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="73pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="51pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="6pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="60pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:92pt;"><FONT SIZE=2><B>Derivatives Liabilities

<!-- COMMAND=ADD_SCROPPEDRULE,92pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:124pt;"><FONT SIZE=2><B>Balance Sheet Classification

<!-- COMMAND=ADD_SCROPPEDRULE,124pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:24pt;"><FONT SIZE=2><B>Fair<BR>
Value

<!-- COMMAND=ADD_SCROPPEDRULE,24pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:36pt;"><FONT SIZE=2><B>Notional

<!-- COMMAND=ADD_SCROPPEDRULE,36pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:24pt;"><FONT SIZE=2><B>Fair<BR>
Value

<!-- COMMAND=ADD_SCROPPEDRULE,24pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:36pt;"><FONT SIZE=2><B>Notional


<!-- COMMAND=ADD_SCROPPEDRULE,36pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Equities futures</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>Payables to broker-dealers and clearing organizations</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2> $</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(268)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>122,948</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(3,024</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>769,929</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Commodity futures</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>Payables to broker-dealers and clearing organizations</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2> (295)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>15,727</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(61</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>30,789</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Currency futures</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>Payables to broker-dealers and clearing organizations</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2> (3,077)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2,123,341</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(381</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>959,125</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Treasury futures</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>Payables to broker-dealers and clearing organizations</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>79</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>825,011</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Custom equity based swap</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>Payables to broker-dealers and clearing organizations</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>15,877</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Options</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>Financial instruments sold, not yet purchased</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>79</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>12,913</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2,038</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>92,868</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Currency forwards</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>Financial instruments sold, not yet purchased</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,645,820</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>125,152,639</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>163,070</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>60,746,555</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Interest rate swap</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>Financial instruments sold, not yet purchased</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>12</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>164,020</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amounts included in receivables from and payables to broker-dealers and clearing organizations represent variation margin on long and short
futures contracts. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table summarizes the gain or loss on derivative instruments not designated as hedging instruments under ASC 815, which are recorded in trading income, net in the </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-35</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=217,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=1007384,FOLIO='F-35',FILE='DISK108:[13ZDI1.13ZDI16701]FS16701A.;210',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<A NAME="page_fs16701_1_36"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> 10. Derivative Instruments (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>accompanying
consolidated statements of comprehensive income for the years ended December&nbsp;31, 2014, 2013 and 2012: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="64pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="56pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="56pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>For the Years Ended December&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2><B>(in thousands)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2014

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2013


<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2012

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Futures</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2> $</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(78,234)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>191,046</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>291,087</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Currency forwards</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2> (32,785)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(1,817</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(5,002</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Options</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2> (987)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>2,680</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(312</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Interest rate swaps</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2> (12)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2> $</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(112,018)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>191,909</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>285,773</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2><B> 11. Income Taxes  </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income (loss) before income taxes is as follows for the years ended December&nbsp;31, 2014, 2013 and 2012: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="56pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="56pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="49pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>December&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2014

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2013

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2012

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2><B>(in thousands)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>U.S. operations</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>158,487</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>136,744</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>82,330</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Non-U.S. operations</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>35,071</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>50,856</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>6,998</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>193,558</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>187,600</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>89,328</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
provision for income taxes consists of the following for the years ended December&nbsp;31, 2014, 2013 and 2012: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="42pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="42pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="42pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>December&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2><B>(in thousands)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2014

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2013


<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2012

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Current provision</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Non-U.S.&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>4,263</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>3,660</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>2,292</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Deferred provision (benefit)</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Non-U.S.&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(762</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,737</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(524</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Provision for income taxes</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>3,501</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>5,397</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,768</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
reconciliation of the tax provision at the U.S. Federal Statutory Rate to the provision for income taxes for the years ended December&nbsp;31, 2014, 2013 and 2012
is as follows: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="42pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="32pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="42pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="32pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="42pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="32pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=17 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>December&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>2014 </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>2013 </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>2012 </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2><B>(in thousands, except percentages)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Tax provision at the U.S. federal statutory rate</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Foreign taxes</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>3,501</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1.8</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>5,397</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2.9</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,768</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2.0</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Provision for income taxes</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>3,501</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1.8</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>5,397</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2.9</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,768</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2.0</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-36</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=218,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=913673,FOLIO='F-36',FILE='DISK108:[13ZDI1.13ZDI16701]FS16701A.;210',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<A NAME="page_fs16701_1_37"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 11. Income Taxes (Continued) </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
components of the deferred tax assets and liabilities as of December&nbsp;31, 2014 and 2013 are as follows: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="40pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="42pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>December&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2><B>(in thousands)</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2014

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2013

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Deferred income tax assets</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Other</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>12</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>171</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Share-based compensation</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>947</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>106</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Fixed assets</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>18</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Tax credits and net operating loss carryforwards</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>724</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total deferred income tax assets</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>977</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,001</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Deferred income tax liabilities</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Fixed assets</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>872</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total deferred income tax liabilities</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>872</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
deferred tax asset relating to the Ireland carryforward losses has been recognized in the amount of $0 and $0.7&nbsp;million as of December&nbsp;31, 2014 and 2013,
respectively, and is included within other assets in the accompanying consolidated statements of financial condition. There are no expiration dates on the deferred tax assets. The provisions of
ASC&nbsp;740 require that carrying amounts of
deferred tax assets be reduced by a valuation allowance if, based on the available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized.
Accordingly, the need to establish valuation allowances for deferred tax assets is assessed periodically with appropriate consideration given to all positive and negative evidence related to the
realization of the deferred tax assets. A valuation allowance against deferred tax assets at the balance sheet date is not considered necessary, because it is more likely than not the deferred tax
asset will be fully realized. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax
authorities in Ireland have initiated an income tax audit of the Company's 2012 research and development credit. The Ireland subsidiary's returns are generally subject to review by
the tax authority for certain purposes for 5&nbsp;years from the end of the accounting period. The Company does not believe any adjustments that may arise from the examinations will be significant.
There are no unrecognized tax benefits as of December&nbsp;31, 2014 and 2013. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 12. Commitments, Contingencies and Guarantees  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Leases  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company leases office space and office and communication equipment under various operating lease agreements, which expire at
various dates through April 2020. Certain lease agreements are non-cancellable with aggregate minimum lease payment requirements and contain certain escalation clauses. The total future minimum
payment under non-cancellable operating leases is approximately $20.6&nbsp;million as of December&nbsp;31, 2014. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company also leases communication equipment under various capital lease agreements, which expire at various dates through December 2017. Certain lease agreements are non-cancellable
with aggregate minimum lease payment requirements and contain certain escalation clauses. The total future minimum payment under non-cancellable capital leases is approximately $16.5&nbsp;million as
of December&nbsp;31, 2014. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-37</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=7,SEQ=219,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=589368,FOLIO='F-37',FILE='DISK108:[13ZDI1.13ZDI16701]FS16701A.;210',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<A NAME="page_fs16701_1_38"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> 12. Commitments, Contingencies and Guarantees (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
December&nbsp;31, 2014, minimum rental commitments under non-cancellable leases are approximately as follows: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="49pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="64pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>Minimum Rental Commitments </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:121pt;"><FONT SIZE=2><B>Year Ending December&nbsp;31

<!-- COMMAND=ADD_SCROPPEDRULE,121pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:34pt;"><FONT SIZE=2><B>Capital

<!-- COMMAND=ADD_SCROPPEDRULE,34pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:48pt;"><FONT SIZE=2><B>Operating


<!-- COMMAND=ADD_SCROPPEDRULE,48pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2015</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>11,135</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>7,488</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2016</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>5,313</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>3,763</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2017</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>98</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>3,291</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2018</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>2,640</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2019</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,508</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Thereafter</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,944</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Total minimum lease payments</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>16,546</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>20,634</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
operating lease expense, net of amortization expense related to landlord incentives, for the years ended December&nbsp;31, 2014, 2013 and 2012 was approximately
$3.5&nbsp;million, $4.3&nbsp;million, and $14.5&nbsp;million, respectively. Occupancy lease expense for the years ended December&nbsp;31, 2014, 2013 and 2012 of $1.7&nbsp;million,
$1.9&nbsp;million and $3.0&nbsp;million, respectively, is included within operations and administrative expenses in the consolidated statements of comprehensive income. Communication equipment
lease expense for the years ended December&nbsp;31, 2014, 2013 and 2012 of $1.8&nbsp;million, $2.4&nbsp;million and $11.5&nbsp;million, respectively, is included within communication and data
processing in the accompanying consolidated statements of comprehensive income. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Employee Retention Plan  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the July&nbsp;8, 2011 acquisition of MTH, the Company established an employee retention plan. Under the plan,
approximately $21.5&nbsp;million was paid to employees in five installments from July&nbsp;8, 2011 through July&nbsp;8, 2014. The Company recognized approximately $2.6&nbsp;million,
$6.7&nbsp;million and $6.1&nbsp;million, respectively, in compensation expense related to the plan, for the years ended December&nbsp;31, 2014, 2013 and 2012, in acquisition related retention
bonus in the accompanying consolidated statements of comprehensive income. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Consulting Agreements  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the December&nbsp;9, 2011 acquisition of CCG, on September&nbsp;30, 2011, the Company entered into a consulting
agreement with CCG's founder and managing member to provide advisory services to the Company for the DMM business. The Company paid a consulting fee of $0.5&nbsp;million per year during the three
year term, payable on a quarterly basis starting on the three-month anniversary of the date of the agreement. For the years ended December&nbsp;31, 2014, 2013 and 2012, the Company paid
approximately $0.4&nbsp;million, $0.5&nbsp;million and $0.5&nbsp;million, respectively, for the services received which is recorded in operations and administrative expenses in the accompanying
consolidated statements of comprehensive income. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company also has engaged other consultants to provide services in relation to tax, regulatory and public affairs. The Company paid these consultants, on an aggregate basis,
$0.3&nbsp;million, $0.4&nbsp;million and $0.1&nbsp;million for the years ended December&nbsp;31, 2014, 2013 and 2012, respectively. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-38</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=8,SEQ=220,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=777579,FOLIO='F-38',FILE='DISK108:[13ZDI1.13ZDI16701]FS16701A.;210',USER='CHE107549',CD='12-MAR-2015;02:03' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_fu16701_1_39"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->




<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


 </FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 12. Commitments, Contingencies and Guarantees (Continued)  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Litigation  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company is subject to various legal proceedings and claims that arise in the ordinary course of business. The Company has also
been, is currently, and may in the future be, the subject of one or more regulatory or self-regulatory organization enforcement actions, including but not limited to targeted and routine regulatory
inquiries and investigations involving Regulation NMS, Regulation SHO, capital requirements and other domestic and foreign securities rules and regulations. In addition, the Autorit&eacute;
des March&eacute;s Financiers is examining the trading activities of a subsidiary of MTH in certain French listed equity securities on or around&nbsp;2009. The Company has also been the
subject of requests for information and documents from the SEC and the State of New York Office of the Attorney General ("NYAG"). The ultimate effect on the Company from certain of these matters may
result in adverse judgments, settlements, fines, penalties, injunctions or other relief, and the Company's business or reputation could be negatively impacted if it were determined that disciplinary
or other enforcement actions were required. The ultimate effect on the Company from the pending proceedings and claims, if any, is presently unknown. Where available information indicates that it is
probable a liability had been incurred at the date of the financial statements and the Company can reasonably estimate the amount of that loss, the Company accrues the estimated loss by a charge to
income. Based on information currently available, management believes that the resolution of any known matters will not result in any material adverse effect on the Company's financial position,
results of operations or cash flows. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Indemnification Arrangements  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consistent with standard business practices in the normal course of business, the Company has provided general indemnifications to its
managers, officers, employees, and agents against expenses, judgments, fines, settlements, and other amounts actually and reasonably incurred by such persons under certain circumstances as more fully
disclosed in its operating agreement. The overall maximum amount of the obligations (if any) cannot reasonably be estimated as it will depend on the facts and circumstances that give rise to any
future claims. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 13. Temasek Transaction  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On December&nbsp;31, 2014, through a series of transactions, Temasek Holdings (Private) Limited, ("Temasek"), acting through two indirect wholly owned subsidiaries, acquired direct or
indirect ownership of 10,535,891 Class&nbsp;A-1 interests and 1,828,755&nbsp;Class&nbsp;A-2 capital interests in Virtu Financial (the "Temasek Transaction") for approximately
$149.8&nbsp;million and $26.0&nbsp;million, respectively. Such investment was made as follows:</FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Temasek, acting through its indirect wholly owned subsidiary, Wilbur Investments&nbsp;LLC (the "Temasek Member"),
acquired 5,376,603&nbsp;Class&nbsp;A-1 redeemable interests with a carrying value of approximately $53.8&nbsp;million for approximately $76.4&nbsp;million from investment funds and other
entities affiliated with Silver Lake Partners; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Temasek, acting through the Temasek Member, acquired 1,828,755 Class&nbsp;A-2 capital interests through a combination of
(1)&nbsp;the purchase of 1,614,322 Class&nbsp;A-2 capital interests with a carrying value of approximately $6.9&nbsp;million for approximately $23.0&nbsp;million directly from a member of
management who held Class&nbsp;A-2 capital interests in Virtu Financial and (2)&nbsp;the purchase of newly issued 214,433 Class&nbsp;A-2 capital interests for approximately </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-39</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=221,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=1028561,FOLIO='F-39',FILE='DISK108:[13ZDI1.13ZDI16701]FU16701A.;201',USER='JTAM',CD='23-MAR-2015;16:16' -->
<A NAME="page_fu16701_1_40"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 13. Temasek Transaction (Continued) </B></FONT></P>

<UL>
<UL>

<P style="font-family:arial;"><FONT SIZE=2>$3.0&nbsp;million
from Virtu Financial, which used the proceeds of such purchase to redeem 214,433 Class&nbsp;A-2 profits interests in Virtu Financial with a carrying value of approximately
$1.4&nbsp;million held by Virtu Employee Holdco&nbsp;LLC ("Employee Holdco"), which in turn used such proceeds to redeem Class&nbsp;A-2 profits interests of Employee Holdco that corresponded to
such redeemed Class&nbsp;A-2 profits interests in Virtu Financial and that were held by certain members of management; </FONT></P>

</UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Temasek, acting through one of its indirect wholly owned subsidiaries, acquired a 42.1% interest in an affiliate of Silver
Lake Partners, which indirectly held 12,242,173 Class&nbsp;A-1 interests. As a result, Temasek acquired an indirect interest in 5,159,288 Class&nbsp;A-1 interests with a carrying value of
approximately $51.6&nbsp;million for approximately $73.4&nbsp;million. </FONT></DD></DL>
</UL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Following
the Temasek Transaction, affiliates of Silver Lake Partners retained direct or indirect ownership of 14,464,109 Class&nbsp;A-1 interests. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additionally,
as part of the transaction consideration, a contingent payment agreement was entered into among Temasek, Silver Lake Partners, the Employee Holdco and the Company whereby
additional payments will be made from Temasek to Silver Lake Partners and the selling members of management in the aggregate maximum amount of $3.9&nbsp;million if the value of the interests
acquired exceeds 1.7 times the transaction price prior to December&nbsp;31, 2018, or December&nbsp;31, 2019, the date depending on whether certain liquidity events occur. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company accounted for the Temasek transaction as a series of equity transactions to which the Company was a party whereby (i)&nbsp;the terms of the Class&nbsp;A-1 redeemable
interests were changed to extend the time period before the put option could be exercised from just under 2&nbsp;years to 5.5&nbsp;years from the date of the transaction, and the repurchase price
was increased to the greater of fair value or the purchase price from the greater of fair value or the purchase price paid by Silver Lake; (ii)&nbsp;new Class&nbsp;A-2 capital interests were
issued with which the proceeds were used to redeem Class&nbsp;A-2 profits interests; and (iii)&nbsp;the contingent payment feature represents contingent consideration for the arm's length equity
transactions entered into. Any excess of the transaction price over the carrying value was recorded as an addition to the respective capital balances and a deduction to accumulated deficit.


</FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
excess of the transaction price over the carrying value was approximately $44.4&nbsp;million for the Class&nbsp;A-1 redeemable membership interests and recorded as an addition
to Class&nbsp;A-1 redeemable membership interest and a deduction to accumulated deficit in the accompanying consolidated statements of financial condition. The excess of the transaction price over
the carrying value was approximately $17.7&nbsp;million for the Class&nbsp;A-2 interests and recorded as an addition to Class&nbsp;A-2 and a deduction to accumulated deficit in the accompanying
consolidated statements of financial condition. In connection with the transaction, the Company incurred approximately $3.0&nbsp;million of professional fees which are recorded in transaction
advisory fees and expenses in the consolidated statements of comprehensive income. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 14. Capital Structure  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has issued three classes of interests: Class&nbsp;A-1 interests; Class&nbsp;A-2 interests; and Class&nbsp;B interests. Class&nbsp;A-2 interests include both
Class&nbsp;A-2 capital interests and Class&nbsp;A-2 profits interests. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-40</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=222,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=638534,FOLIO='F-40',FILE='DISK108:[13ZDI1.13ZDI16701]FU16701A.;201',USER='JTAM',CD='23-MAR-2015;16:16' -->
<A NAME="page_fu16701_1_41"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 14. Capital Structure (Continued) </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> Class&nbsp;A-1 Interests  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On July&nbsp;8, 2011, 25,000,000 Class&nbsp;A-1 redeemable interests were issued to the Silver Lake Member and 1,964,826
Class&nbsp;A-1 interests were issued to an affiliate of Vincent Viola, which Class&nbsp;A-1 interests had an aggregate capital balance of approximately $270&nbsp;million. As described in
Note&nbsp;13, on December&nbsp;31, 2014, through a series of transactions, 5,376,603 and
12,242,173 of the Class&nbsp;A-1 redeemable interests previously held by the Silver Lake Member were transferred to the Temasek Member and the SLT Member, respectively, with the Silver Lake Member
retaining 7,381,224 Class&nbsp;A-1 redeemable interests. Class&nbsp;A-1 interests that the holder thereof has the right to call for redemption are held by three members: (i)&nbsp;an affiliate of
Silver Lake (the "Silver Lake Member"), (ii)&nbsp;the Temasek Member and (iii)&nbsp;an affiliate of Silver Lake and Temasek, 57.9% of which is indirectly owned by affiliates of Silver Lake
Partners and 42.1% of which is indirectly owned by an affiliate of Temasek (the "SLT Member" and, together with the Silver Lake Member and the Temasek Member, the "Investor Members"). The Silver Lake
Member has the right to appoint one member on the Company's board of directors and the Temasek Member has the right to either appoint one member on the Company's board of directors (subject to
obtaining certain regulatory approvals) or elect that the other members of the board of directors will designate one member of the Company's board of directors in consultation with the Temasek Member.
The Silver Lake Member and the Temasek Member also possess approval rights with respect to certain board actions and corporate events. There were no additional Class&nbsp;A-1 interests granted,
forfeited, distributed or redeemed during the years ended December&nbsp;31, 2014, 2013 and&nbsp;2012. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Class&nbsp;A-2 Interests  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class&nbsp;A-2 interests include both Class&nbsp;A-2 capital interests and Class&nbsp;A-2 profits interests. Approximately
93,786,659 and 95,024,893 Class&nbsp;A-2 capital interests are issued and outstanding as of December&nbsp;31, 2014 and December&nbsp;31, 2013, respectively. On December&nbsp;31, 2014, through
a series of transactions, 1,614,322 of the Class&nbsp;A-2 capital interests previously held by certain members of the Company's management were transferred to the Temasek Member, and 214,433 new
Class&nbsp;A-2 capital interests were issued to the Temasek Member, with the proceeds of such issuance being used to redeem the same number of Class&nbsp;A-2 profits interests held by Employee
Holdco&nbsp;LLC ("Employee Holdco"). On November&nbsp;4, 2014, the Company repurchased 1,452,667 Class&nbsp;A-2 capital interests from a member of the Company's management with an original
carrying value of approximately $1.4&nbsp;million for $6.0&nbsp;million. The excess of repurchase price over the carrying value of approximately $4.6&nbsp;million was recorded as a reduction in
accumulated deficit and the carrying value of approximately $1.4&nbsp;million was recorded as a reduction in Class&nbsp;A-2 capital interests in the accompanying consolidated statements of
financial condition. Class&nbsp;A-2 profits interests are issued to Employee Holdco, a holding company which holds the interests on behalf of certain key employees or stakeholders. Employee Holdco
issues Class&nbsp;A-2 profits interests of Employee Holdco to such employees and stakeholders which correspond to the underlying Class&nbsp;A-2 profits interests held by Employee Holdco. There
were 6,069,007 and 4,434,452 Class&nbsp;A-2 profits interests issued and outstanding as of December&nbsp;31, 2014 and 2013, respectively. Approximately 1,992,556, 2,223,814 and 1,705,704
Class&nbsp;A-2 profits interests were issued during the years ended December&nbsp;31, 2014, 2013 and 2012, respectively. Holders of Class&nbsp;A-2 profits interests share in distributions of
available cash flow based on the ratio of interests held to the total number of Class&nbsp;A-1 and Class&nbsp;A-2 interests outstanding, and also share on a pro rata basis in the </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-41</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=223,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=555455,FOLIO='F-41',FILE='DISK108:[13ZDI1.13ZDI16701]FU16701A.;201',USER='JTAM',CD='23-MAR-2015;16:16' -->
<A NAME="page_fu16701_1_42"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> 14. Capital Structure (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>proceeds
of a liquidity event, subject to a valuation hurdle determined by the Company at the time of the grant based on a valuation performed by a third party valuation firm. Holders of the
Class&nbsp;A-2 profits interests share in the proceeds of a liquidity event above such valuation hurdle, and receive a preference on such distributions above such valuation threshold until all
holders of Class&nbsp;A-2 profits interests subject to such valuation threshold have been allocated capital proceeds equal to the deemed capital contribution attributable to such Class&nbsp;A-2
profits interests as determined by the Company at the time of the grant. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> Class&nbsp;B Interests  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company previously approved the Virtu Financial&nbsp;LLC Management Incentive Plan (the "MIP"). Participants of the MIP are
entitled to receive either Class&nbsp;B Interests of VF or Class&nbsp;B interests of Employee Holdco, which holds directly the corresponding Class&nbsp;B interests in the Company. Upon a
liquidity event, Class&nbsp;B interests under the MIP are entitled to share proportionately in distributions in excess of the applicable profits interest valuation hurdle, which is determined by the
Company based on a valuation at the time of the grant performed by a third party valuation firm. Class&nbsp;B interests are non-voting interests which vest over a four year period and upon a sale,
initial public offering or certain other capital transactions of VF. Class&nbsp;B interests are subject to forfeiture and repurchase provisions upon certain termination events. Class&nbsp;B
interests representing a right to share in 12.915% and 13.715% of capital proceeds (on a fully diluted basis) were issued and outstanding as of December&nbsp;31, 2014 and 2013. Class&nbsp;B
interests representing 0%, 2.65% and 0.90% were issued during the years ended December&nbsp;31, 2014, 2013 and 2012, respectively. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Distribution and Liquidation Rights  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Holders of Class&nbsp;A-1 and Class&nbsp;A-2 interests share in distributions of available cash flow based on the ratio of
interests held to the total number of Class&nbsp;A-1 and Class&nbsp;A-2 interests outstanding. Holders of Class&nbsp;B interests are not entitled to share in such distributions. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of December&nbsp;31, 2014 and 2013, unless and until converted to Class&nbsp;A-2 interests, upon occurrence of a capital transaction, Class&nbsp;A-1 interests are entitled to
distributions of capital proceeds until Class&nbsp;A-1 members' unrecovered capital balance (as defined) has been reduced to zero. After distributions to Class&nbsp;A-1 members, capital proceeds
are provided to Class&nbsp;A-2 capital
members until Class&nbsp;A-2 capital members' unrecovered capital balance (as defined) have been reduced to zero. After distributions to Class&nbsp;A-1 and Class&nbsp;A-2 members, distributions
of capital proceeds are provided to members in respect to their respective capital proceeds percentages (as defined), subject to the valuation hurdles and distribution preferences applicable to
holders of Class&nbsp;A-2 profits interests. Holders of vested Class&nbsp;B interests share in distributions of capital proceeds above the applicable valuation hurdle proportionately based on
their capital proceeds percentages. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event of any voluntary or involuntary liquidation, dissolution, winding up, merger or company sale, distributions are made, first, to Class&nbsp;A-1 members' unrecovered
capital balance (as defined) until they have been reduced to zero. Second, to Class&nbsp;A-2 capital members, in proportion to their unrecovered capital balance (as defined) until reduced to zero
and then to members in </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-42</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=224,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=68327,FOLIO='F-42',FILE='DISK108:[13ZDI1.13ZDI16701]FU16701A.;201',USER='JTAM',CD='23-MAR-2015;16:16' -->
<A NAME="page_fu16701_1_43"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> 14. Capital Structure (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>respect
to their capital proceeds percentages (as defined), subject to the valuation hurdles and distribution preferences applicable to holders of Class&nbsp;A-2 profits interests. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Conversion Rights  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As of December&nbsp;31, 2014 and 2013, the Class&nbsp;A-1 interests are convertible into Class&nbsp;A-2 interests at any time at
the option of the Class&nbsp;A-1 member on a one-for-one basis. The Class&nbsp;A-1 interests are automatically converted upon a qualified IPO or qualified sale. Qualified IPO is defined as an
initial public offering on the New York Stock Exchange or NASDAQ National Market in which the gross proceeds raised equal or exceed $250.0&nbsp;million and the valuation of the Company implies a
return to the Silver Lake Member equal to at least (after taking into account previous distributions) 1.75 times the invested amount. Qualified sale is defined as a sale of all or a majority of the
assets of the Company or all or a majority of the limited liability company interests of the Company to a third party that is not an affiliate or other permitted transferee of any member as long as
the sale (i)&nbsp;is for consideration consisting entirely of cash and/or marketable securities and would satisfy certain minimum return requirements applicable to Silver Lake Partners and Temasek
or (ii)&nbsp;was approved by the Silver Lake Member or, in certain circumstances, the Temasek Member. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> Redemption Rights  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless and until conversion occurs, the Investor Members are entitled to a number of rights and benefits, including the right to call
for redemption of their Class&nbsp;A-1 interests. Any time on or after November&nbsp;24, 2016, the Silver Lake Member may exercise such redemption right in order to cause the Company to purchase
all of the Class&nbsp;A-1 interests owned directly or indirectly by affiliates of Silver Lake Partners. Any time on or after May&nbsp;16, 2020, the Temasek Member may exercise such redemption
right in order to cause the Company to purchase all of the Class&nbsp;A-1 interests owned directly or indirectly by affiliates of Temasek. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of December&nbsp;31, 2014 and 2013, the redemption price for each unit of Class&nbsp;A-1 interests owned by the Investor Members is the greater of (i)&nbsp;a minimum purchase
price and (ii)&nbsp;the fair market value of the Class&nbsp;A-1 interests on the date of redemption. The minimum purchase price with respect to the Class&nbsp;A-1 interests owned directly or
indirectly by affiliates of Silver Lake Partners is equal to the purchase price paid by affiliates of Silver Lake Partners for such Class&nbsp;A-1 interests and the minimum purchase price with
respect to the Class&nbsp;A-1 interests owned directly or indirectly by affiliates (as defined in the Second Amended and Restated Limited Liability Company Agreement of Virtu Financial) of Temasek
is equal to the purchase price paid by affiliates (as defined in the Second Amended and Restated Limited Liability Company Agreement of Virtu Financial) of Temasek for such Class&nbsp;A-1 interests
(in each case, less distributions received in respect of such Class&nbsp;A-1 interests). The Company may redeem the Class&nbsp;A-1 interests using redemption notes provided that all available cash
flow and all capital proceeds are used to pay down the redemption note. For so long as any redemption note is outstanding, holders of any such redemption note whose outstanding principal balance
exceeds 50% of the aggregate principal amount of the redemption note shall retain any approval and consent rights as if all Class&nbsp;A-1 interests subject to such redemption continued to be owned. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
lieu of redemption, the Silver Lake Member or the Temasek Member can require the Company to purchase all of the equity securities of the affiliated entity or entities that directly
or </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-43</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=225,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=176923,FOLIO='F-43',FILE='DISK108:[13ZDI1.13ZDI16701]FU16701A.;201',USER='JTAM',CD='23-MAR-2015;16:16' -->
<A NAME="page_fu16701_1_44"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 14. Capital Structure (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>indirectly
own their Class&nbsp;A-1 interests on behalf of affiliates of Silver Lake Partners or Temasek, respectively, provided that any such entity has not conducted any business or operations
since inception other than the direct or indirect ownership of the interests of the Company. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
redeemable equity instrument is classified outside of permanent equity on the statements of financial condition. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event of termination of the employment of an employee on whose behalf Employee Holdco holds vested Class&nbsp;A-2 profits interests or Class&nbsp;B interests, the Company
shall have the right but not the obligation to repurchase the applicable interests held by Employee Holdco, which would make a corresponding repurchase of the interests held by the terminated
employee. The repurchase price payable by the Company in the event that it exercises its repurchase right with respect to Class&nbsp;A-2 profits interests is based on the value of the award at the
date of issuance. In the event of a repurchase by the Company of Class&nbsp;B interests held by Employee Holdco on behalf of a terminated employee, the Company shall pay a call price determined by
the manager, not to exceed the fair market value of such interests. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> East Management Incentive Plan  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On July&nbsp;8, 2011, 2,625,000 Class&nbsp;A-2 capital interests were contributed by Class&nbsp;A-2 members to Virtu East
MIP&nbsp;LLC ("East MIP"). East MIP issued Class&nbsp;A interests to the members who contributed the Class&nbsp;A-2 capital interests, and Class&nbsp;B interests ("East MIP Class&nbsp;B
Interests") to certain key employees. East MIP Class&nbsp;B Interests are non-voting interests which vest over the four year period ending July&nbsp;8, 2015, but in any event no earlier than upon
the occurrence of a sale, initial public offering or certain other capital transactions of VF. Vested East MIP Class&nbsp;B Interests are entitled to participate in distributions of the proceeds
received in respect of the Class&nbsp;A-2 capital interests held by East MIP upon a sale or certain other capital transactions of VF. East MIP Class&nbsp;B Interests are subject to forfeiture and
repurchase provisions upon certain termination events. The Company has not recognized compensation expense under this plan for the years ended December&nbsp;31, 2014, 2013 and 2012. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 15. Share-based Compensation  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During the years ended December&nbsp;31, 2014, 2013 and 2012, the Company granted Class&nbsp;A-2 profits
interests to certain employees, which vest immediately or over a period of up to four&nbsp;years, in each case subject to repurchase provisions upon certain termination events, as described above
(Note&nbsp;14). These awards are accounted for as equity awards and are measured at the date of grant. For the years ended December&nbsp;31, 2014, 2013 and 2012, the Company recorded
$16.0&nbsp;million, $13.4&nbsp;million and $8.4&nbsp;million in expense recognized relating to these awards, and other vesting awards granted in prior periods still subject to vesting. As of
December&nbsp;31, 2014, total unrecognized share-based compensation expense related to these Class&nbsp;A-2 profits interests that have not vested was $3.6&nbsp;million and this amount is
expected to be recognized over a weighted average period of 2.5&nbsp;years. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
fair value of the Class&nbsp;A-2 profits interests was estimated by the Company using an option pricing methodology based on expected volatility, risk-free rates and expected
life. Expected volatility is calculated based on companies in the same peer group as the Company. The weighted- </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-44</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=226,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=612392,FOLIO='F-44',FILE='DISK108:[13ZDI1.13ZDI16701]FU16701A.;201',USER='JTAM',CD='23-MAR-2015;16:16' -->
<A NAME="page_fu16701_1_45"> </A>


<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 15. Share-based Compensation (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>average
assumptions used by the Company in estimating the grant date fair values of the Class&nbsp;A-2 profits interests as of December&nbsp;31, 2014, 2013 and 2012 are summarized below: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="35pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="35pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="35pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>As of December&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>2014 </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>2013 </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>2012 </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Expected life (in years)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>0.5</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>0.5</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1.5</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Expected stock price volatility</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>25</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>25</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>30</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Expected dividend yield</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Risk-free interest rate</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>0.12</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>0.10</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>0.20</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Activity
in the Class&nbsp;A-2 profits interests is as follows: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="87pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="81pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="68pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:56pt;"><FONT SIZE=2><B># of Profits<BR>
Interests

<!-- COMMAND=ADD_SCROPPEDRULE,56pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>Weighted<BR>
Average Fair<BR>
Value </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>Weighted<BR>
Average<BR>
Remaining<BR>
Life </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Outstanding December&nbsp;31, 2012</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2,298,957</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>6.40</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>0.70</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Interests granted</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2,223,814</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>7.19</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Interests repurchased</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(88,319</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>6.57</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Outstanding December&nbsp;31, 2013</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>4,434,452</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>6.82</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>3.40</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Interests granted</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,992,556</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>7.52</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Interests repurchased</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(358,001</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>6.51</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Outstanding December&nbsp;31, 2014</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>6,069,007</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>7.05</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2.54</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
indicated in Note&nbsp;14, East MIP Class&nbsp;B Interests are subject to time based vesting over four years and only fully vest upon the consummation of a
qualifying capital transaction by the Company, including an initial public offering. As of December&nbsp;31, 2014 and 2013, respectively, a capital transaction was not probable, and therefore none
of the East MIP Class B interests were vested and no compensation expense was recognized relating to these awards. Upon the occurrence of a qualifying capital transaction, including the completion of
an initial public offering, the Company expects to recognize compensation expense in an amount equal to the fair value of outstanding time-vested East MIP Class&nbsp;B Interests as of the date of
the transaction, with the fair value of the unvested East MIP Class&nbsp;B Interests recognized as a compensation expense ratably over the remaining vesting period. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
the years ended December&nbsp;31, 2013 and 2012, certain employees have been granted Class&nbsp;B interests. As discussed in Note&nbsp;14, Class&nbsp;B interests vest
only upon the occurrence of both time-based vesting over a four year period and the consummation of a qualifying capital transaction by the Company. No Class&nbsp;B interests were granted during the
year ended December&nbsp;31, 2014. As of December&nbsp;31, 2014 and 2013, respectively, a capital transaction was not probable, and therefore none of the Class&nbsp;B interests were vested and
no compensation expense was recognized relating to previously awarded Class&nbsp;B interests. Upon the occurrence of a qualifying capital transaction, including the completion of an initial public
offering, the Company expects to recognize compensation expense in an amount equal to the fair value of outstanding time-vested Class&nbsp;B interests as of the date of the transaction, with the
fair value of the unvested Class&nbsp;B interests recognized as compensation expense ratably over the remaining vesting period. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-45</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=7,SEQ=227,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=107582,FOLIO='F-45',FILE='DISK108:[13ZDI1.13ZDI16701]FU16701A.;201',USER='JTAM',CD='23-MAR-2015;16:16' -->
<A NAME="page_fu16701_1_46"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 16. Regulatory Requirement  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As of December&nbsp;31, 2014, two subsidiaries of the Company are subject to the Securities Exchange Commission ("SEC") Uniform Net Capital Rule&nbsp;15c3-1 which requires the
maintenance of minimum net capital of $1.0&nbsp;million for each of the two broker-dealer subsidiaries. At December&nbsp;31, 2014, the subsidiaries had net capital of approximately
$59.8&nbsp;million and $8.1&nbsp;million, which was approximately $58.8&nbsp;million and $7.1&nbsp;million in excess of its required net capital of $1.0&nbsp;million and $1.0&nbsp;million,
respectively. At December&nbsp;31, 2013, the subsidiaries had net capital of approximately $49.7&nbsp;million and $8.0&nbsp;million, which was approximately $48.7&nbsp;million and
$7.0&nbsp;million in excess of its required net capital of $1.0&nbsp;million and $1.0&nbsp;million, respectively. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to NYSE and NYSE&nbsp;MKT (formerly NYSE Amex) rules, the Company is also required to maintain $3.7&nbsp;million and $4.7&nbsp;million of capital in connection with the
operation of the Company's DMM business as of December&nbsp;31, 2014 and 2013, respectively. The required amount is determined under the exchange rules as the greater of $1&nbsp;million or 15% of
the market value of 60 trading units for each symbol in which the Company is registered as the DMM. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 17. Financial Instruments with Off Balance Sheet Risk and Concentration of Risk  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company maintains U.S. checking accounts with balances frequently in excess of $250,000. The Federal Deposit Insurance Corporation ("FDIC") insures combined accounts up to $250,000.
</FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> Credit Risk  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit risk represents the maximum potential loss that the Company would incur if the counterparties failed to perform pursuant to the
terms of their agreements with the Company. The Company regularly transacts business with major U.S. and foreign financial institutions. The Company is subject to credit risk to the extent that the
brokers may be unable to fulfill their obligations either to return the Company's securities or repay amounts owed. In the normal course of its securities activities, the Company may be required to
pledge securities as collateral, whereby the prime brokers have the right, under the terms of the prime brokerage agreements, to sell or repledge the securities of the Company. The Company manages
credit risk by limiting the total amount of arrangements outstanding, both by individual counterparty and in the aggregate, by monitoring the size and maturity structure of its portfolio and by
applying uniform credit standards for all activities associated with credit risk. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
purchase and sale of futures contracts requires margin deposits with a Futures Commission Merchant ("FCM"). The Commodity Exchange Act requires an FCM to segregate all customer
transactions and assets from the FCM's proprietary activities. A customer's cash and other equity deposited with an FCM are considered commingled with all other customer funds subject to the FCM's
segregation requirements. In the event of an FCM's insolvency, recovery may be limited to the Company's pro rata share of segregated customer funds available. It is possible that the recovery amount
could be less than the total cash and other equity deposited. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Currency Risk  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Though predominantly invested in U.S. dollar-denominated financial instruments, the Company may invest in securities or maintain cash
denominated in currencies other than the U.S. dollar. The Company is exposed to risks that the exchange rate of the U.S. dollar relative to other currencies </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-46</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=8,SEQ=228,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=437523,FOLIO='F-46',FILE='DISK108:[13ZDI1.13ZDI16701]FU16701A.;201',USER='JTAM',CD='23-MAR-2015;16:16' -->
<A NAME="page_fu16701_1_47"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 17. Financial Instruments with Off Balance Sheet Risk and Concentration of Risk (Continued) </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>may
change in a manner that has an adverse effect on the reported value of the Company's assets and liabilities denominated in currencies other than the U.S. dollar. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Market Risk  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company is exposed to market risks that arise from equity price risk, foreign currency exchange rate fluctuations and changes in
commodity prices. Management has established procedures to actively monitor and minimize market and credit risks. In addition, the Company has sold securities that it does not currently own and will,
therefore, be obligated to purchase such securities at a future date. The Company has recorded these obligations in the consolidated financial statements at fair values of the related securities and
will incur a loss if the fair value of the securities increases subsequent to the period end. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Off Balance Sheet Financial Instruments  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company enters into various transactions involving derivative instruments and other off balance sheet financial instruments,
including futures. These derivative financial instruments are used to conduct trading activities and manage market risks and are, therefore, subject to varying degrees of market and credit risk.
Derivative transactions are entered into for trading purposes or to economically hedge other positions or transactions. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures
contracts provide for delayed delivery of the underlying instrument. The contractual or notional amounts related to these financial instruments reflect the volume and activity
and do not reflect the amounts at risk. Futures contracts are executed on an exchange, and cash settlement is made on a daily basis for market movements. Accordingly, futures contracts generally do
not have credit risk. Market risk is substantially dependent upon the value of the underlying derivative instruments and is affected by market forces, such as volatility and changes in interest and
foreign exchange rates. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> 18. Geographic Information  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company operates its business in the U.S. and internationally, primarily in Europe and Asia. Significant transactions and balances between geographic regions occur primarily as a
result of certain of our subsidiaries incurring operating expenses such as employee compensation, communications and data processing and other overhead costs, for the purpose of providing execution,
clearing and other support services to affiliates. Charges for transactions between regions are designed to approximate full costs. Intra-region income and expenses and related balances have been
eliminated in the geographic information presented below to accurately reflect the external business conducted in each geographical region. The revenues are attributed to </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-47</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=9,SEQ=229,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=438223,FOLIO='F-47',FILE='DISK108:[13ZDI1.13ZDI16701]FU16701A.;201',USER='JTAM',CD='23-MAR-2015;16:16' -->
<A NAME="page_fu16701_1_48"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> 18. Geographic Information (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>countries
based on the locations of the subsidiaries. The following table presents total revenues by geographic area for the years ended December&nbsp;31, 2014, 2013 and 2012: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="56pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="56pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="56pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>For the<BR>
Years Ended,<BR>
December&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2014

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2013

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2012

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Revenues:</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>United States</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>509,105</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>432,900</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>452,282</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Australia</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>86</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>87</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>44,240</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Ireland</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>141,793</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>129,662</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>91,450</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Singapore</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>72,069</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>98,917</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>25,908</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>United Kingdom</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>2,939</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,748</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total revenues</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>723,053</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>664,505</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>615,628</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2><B> 19. Parent Company  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Guarantees.  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company guarantees the indebtedness of its direct subsidiary under the senior secured credit facility (Note&nbsp;8). The
outstanding principal balance of the term loan under the senior secured credit facility totaled $502.7&nbsp;million and $510.0&nbsp;million at December&nbsp;31, 2014 and 2013, respectively. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> Transactions with Affiliates  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividends received from VFH for the three years ended December&nbsp;31, 2014, 2013 and 2012 were $165.7&nbsp;million,
$429.1&nbsp;million and $129.0&nbsp;million, respectively. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-48</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=10,SEQ=230,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=916987,FOLIO='F-48',FILE='DISK108:[13ZDI1.13ZDI16701]FU16701A.;201',USER='JTAM',CD='23-MAR-2015;16:16' -->
<A NAME="page_fu16701_1_49"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 19. Parent Company (Continued) </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="fu16701_virtu_financial_llc_(parent_co__vir02947"> </A>
<A NAME="toc_fu16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  Virtu Financial&nbsp;LLC<BR>  (Parent Company Only)<BR>  Statements of Financial Condition    <BR>    </B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="88pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="88pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:171pt;"><FONT SIZE=2><B>(In thousands, except interest data)

<!-- COMMAND=ADD_SCROPPEDRULE,171pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:63pt;"><FONT SIZE=2><B>December&nbsp;31,<BR>
2014

<!-- COMMAND=ADD_SCROPPEDRULE,63pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:63pt;"><FONT SIZE=2><B>December&nbsp;31,<BR>
2013

<!-- COMMAND=ADD_SCROPPEDRULE,63pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Assets</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Cash and cash equivalents</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>25,939</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>22</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Receivable from subsidiaries</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>12,865</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>22,021</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Investments in subsidiaries, equity basis</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>768,423</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>748,986</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Other assets</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>29</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2,629</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total assets</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>807,256</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>773,658</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Liabilities, redeemable interest and members' equity</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Liabilities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Payable to subsidiaries</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>291,444</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>318,127</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Accounts payable and accrued expenses and other liabilities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>9,114</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2,243</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total liabilities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>300,558</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>320,370</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Class&nbsp;A-1 redeemable interest</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>294,433</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>250,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Members' equity</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Class&nbsp;A-1&nbsp;&#151; Authorized and Issued&nbsp;&#151; 1,964,826 and 1,964,826 interests, Outstanding&nbsp;&#151; 1,964,826 and 1,964,826 interests,
 at December&nbsp;31, 2014 and 2013, respectively</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>19,648</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>19,648</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Additional paid-in capital</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Class&nbsp;A-2&nbsp;&#151; Authorized and Issued&nbsp;&#151; 101,381,332 and 100,627,010 interests, Outstanding&nbsp;&#151; 99,855,666 and 99,459,345
interests at December&nbsp;31, 2014 and 2013, respectively</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>287,705</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>256,340</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Accumulated deficit</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(91,383</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(74,027</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Accumulated other comprehensive income (loss)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(3,705</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,327</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total members' equity</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>212,265</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>203,288</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total liabilities, redeemable interest and members' equity</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>807,256</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>773,658</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-49</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=11,SEQ=231,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=787604,FOLIO='F-49',FILE='DISK108:[13ZDI1.13ZDI16701]FU16701A.;201',USER='JTAM',CD='23-MAR-2015;16:16' -->
<A NAME="page_fu16701_1_50"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 19. Parent Company (Continued) </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="fu16701_virtu_financial_llc_(parent_co__vir04142"> </A>
<A NAME="toc_fu16701_2"> </A>
<BR></FONT><FONT SIZE=2><B>  Virtu Financial&nbsp;LLC<BR>  (Parent Company Only)<BR>  Statements of Comprehensive Income<BR>  for the Years Ended December&nbsp;31, 2014, 2013 and 2012    <BR>    </B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="56pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="56pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="49pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>For the Years Ended<BR>
December&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:70pt;"><FONT SIZE=2><B>(In thousands)

<!-- COMMAND=ADD_SCROPPEDRULE,70pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2014

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2013

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2012

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Revenues:</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Service fee revenue</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>13,492</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2,089</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>5,154</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Expenses:</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Operations and administrative</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>13,492</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2,089</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>5,428</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:30pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total expenses</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>13,492</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2,089</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>5,428</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Income (loss) before equity in income of subsidiaries</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(274</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Equity in income of subsidiaries, net of tax</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>190,057</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>182,203</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>87,834</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net Income</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>190,057</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>182,203</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>87,560</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Other Comprehensive Income, net of taxes:</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Translation adjustment</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(5,032</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,382</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>548</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Comprehensive income</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>185,025</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>183,585</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>88,108</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-50</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=12,SEQ=232,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=792122,FOLIO='F-50',FILE='DISK108:[13ZDI1.13ZDI16701]FU16701A.;201',USER='JTAM',CD='23-MAR-2015;16:16' -->
<A NAME="page_fu16701_1_51"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
Virtu Financial&nbsp;LLC and Subsidiaries </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> 19. Parent Company (Continued) </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="fu16701_virtu_financial_llc_(parent_co__vir03727"> </A>
<A NAME="toc_fu16701_3"> </A>
<BR></FONT><FONT SIZE=2><B>  Virtu Financial&nbsp;LLC<BR>  (Parent Company Only)<BR>  Statements of Cash Flows<BR>  for the Years Ended December&nbsp;31, 2014, 2013 and 2012    <BR>    </B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->


<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="60pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="60pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="60pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2><B>For the Years Ended<BR>
December&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:70pt;"><FONT SIZE=2><B>(In thousands)

<!-- COMMAND=ADD_SCROPPEDRULE,70pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2014

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2013

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=2><B>2012

<!-- COMMAND=ADD_SCROPPEDRULE,23pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B> Cash flows from operating activities</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net Income</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>190,057</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>182,203</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>87,560</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:11pt;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Adjustments to reconcile net income to net cash provided by operating activities:</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:30pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Equity in income of subsidiaries</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(24,469</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>244,854</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>41,198</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Changes in operating assets and liabilities:</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(14,056</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(6,529</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(2,926</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:50pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net cash provided by operating activities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>151,532</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>420,528</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>125,832</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:11pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Cash flows from investing activities</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Investments in subsidiaries, equity basis</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>15,953</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>13,441</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>8,726</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:50pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net cash provided by investing activities&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>15,953</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>13,441</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>8,726</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:11pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>Cash flows from financing activities</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Proceeds from issuance of Class&nbsp;A-2 interests in connection with the Temasek transaction described in Note&nbsp;13</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>3,048</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Repurchase of Class&nbsp;A-2 interests in connection with the Temasek transaction described in Note&nbsp;13</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(3,048</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Repurchase of Class&nbsp;A-2 interests</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(916</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(573</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(352</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Member distributions</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(140,652</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(433,400</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(134,408</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:40pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net cash used in financing activities&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(141,568</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(433,973</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(134,760</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:11pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net increase (decrease) in cash and cash equivalents</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2><BR>
25,917</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2><BR>
(4</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2><BR>
(202</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Cash and equivalents, beginning of period</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>22</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>26</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>228</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Cash and equivalents, end of period</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>25,939</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>22</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>26</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Non-cash financing activities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:40pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Temasek transaction described in Note&nbsp;13</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:40pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Repurchase of Class&nbsp;A-2 interests</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(6,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>

<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2><B> 20. Subsequent Events  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has evaluated subsequent events through February&nbsp;19, 2015, the date the consolidated financial statements were issued. The Company did not note any subsequent events
requiring disclosure to the consolidated financial statements except for the following. The Company made tax and profit distributions to its members in the amount of $48.8&nbsp;million and
$21.2&nbsp;million, respectively, from January&nbsp;1, 2015 to February&nbsp;19, 2015. The Company has entered into a new office lease agreement with a commencement date of January&nbsp;16,
2015 and a minimum commitment of $7.6&nbsp;million that is included in the table in Note&nbsp;12. As a result, the Company plans to vacate its current office space, which is under a
non-cancellable lease agreement ending on February&nbsp;28, 2019. The Company is in the process of determining the impact of the cease-use of the current premise but estimates that it could
recognize a maximum loss of approximately $3.0&nbsp;million from future lease payments and a write-off of leasehold improvements if it cannot successfully find a sub-lessee. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>F-51</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=13,SEQ=233,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=440311,FOLIO='F-51',FILE='DISK108:[13ZDI1.13ZDI16701]FU16701A.;201',USER='JTAM',CD='23-MAR-2015;16:16' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT> <FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><BR></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><div
style="width:100%;border-top:solid #000000 3.0pt;padding:0in 0in 0in 0in;font-size:3.0pt;"></div>
<div style="width:100%;border-top:solid #000000 1.0pt;padding:0in 0in 0in 0in;font-size:4.0pt;"></div> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=4><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=5><B>Virtu Financial,&nbsp;Inc.  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=4><B>Class&nbsp;A Common Stock  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=4><I>

<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" >


  </I></FONT><FONT SIZE=4><B>

<!-- COMMAND=ADDING_LINEBREAK -->

<BR>  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=4><B>
<IMG SRC="g295807.jpg" ALT="GRAPHIC" WIDTH="315" HEIGHT="193">
  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=4><I>

<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" >


 </I></FONT><FONT SIZE=4><B>

<!-- COMMAND=ADDING_LINEBREAK -->

<BR>  </B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:90%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<P style="font-family:arial;"><FONT SIZE=4><B>


<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->


  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="31%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="31%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="31%" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=4><B>Goldman,&nbsp;Sachs&nbsp;&amp;&nbsp;Co.</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=4>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=4><B>J.P.&nbsp;Morgan</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=4>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=4><B>Sandler&nbsp;O'Neill&nbsp;+&nbsp;Partners,&nbsp;L.P.</B></FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=4>&nbsp;<BR></FONT></P>
 <DIV style="padding:0pt;position:relative;width:90%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->



  </B></FONT></P>


<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="22%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="14%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="14%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="14%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="149pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><B> BMO&nbsp;Capital&nbsp;Markets</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><B> Citigroup</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><B> Credit&nbsp;Suisse</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><B> Evercore ISI</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><B> UBS&nbsp;Investment&nbsp;Bank</B></FONT></TD>
</TR>
</TABLE></DIV>

<!-- end of user-specified TAGGED TABLE -->
 </DIV>

 <DIV style="padding:0pt;position:relative;width:90%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->


  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="23%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="23%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="23%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="23%" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><B>Academy Securities</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><B>CIBC</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><B>Rosenblatt Securities</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><I>

<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="18%" ALIGN="CENTER" >


  </I></FONT><FONT SIZE=2>

<!-- COMMAND=ADDING_LINEBREAK -->

<BR></FONT></P>
 <p style="font-family:arial;line-height:1pt;margin-left:18pt;"><font> </FONT> <FONT SIZE=2>
<!-- BLANK LINE TO FORCE PARA -->
&nbsp;&nbsp;&nbsp;
</font></p>
 <P style="font-family:arial;"><FONT SIZE=2><div
style="width:100%;border-top:solid #000000 1.0pt;padding:0in 0in 0in 0in;font-size:3.0pt;"></div>
<div style="width:100%;border-top:solid #000000 3.0pt;padding:0in 0in 0in 0in;font-size:4.0pt;"></div> </FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=234,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=874500,FOLIO='blank',FILE='DISK108:[13ZDI1.13ZDI16701]HO16701A.;35',USER='LBURNET',CD='23-MAR-2015;15:01' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_ja16701_1_1"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->




<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


 </FONT></P>

<!-- TOC_END -->


<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="ja16701_part_ii_information_not_required_in_prospectus"> </A>
<A NAME="toc_ja16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  PART II<BR>  <BR>    INFORMATION NOT REQUIRED IN PROSPECTUS    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="ja16701_item_13._other_expense__ja101988"> </A>
<A NAME="toc_ja16701_2"> </A></FONT> <FONT SIZE=2><B>  Item&nbsp;13.&nbsp;&nbsp;&nbsp;&nbsp;Other Expenses of Issuance and Distribution.    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following sets forth the expenses and costs (other than underwriting discounts and commissions) expected to be incurred in
connection with the issuance and distribution of the Class&nbsp;A common stock registered hereby. Other than the SEC registration fee, the NASDAQ listing fee and the FINRA filing fee, the amounts
set forth below are estimates: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:70%;margin-left:15%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="37pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>SEC registration fee</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>NASDAQ listing fee</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>FINRA filing fee</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Printing expenses</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Accounting fees and expenses</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Legal fees and expenses</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Transfer agent fees and expenses</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Miscellaneous</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->


<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" >
 </DIV>
<DIV style="padding:0pt;position:relative;text-align:left;margin-left:15%;">
 <DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>*</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>To
be provided by amendment. </FONT></DD></DL>
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2><A
NAME="ja16701_item_14._indemnification_of_directors_and_officers."> </A>
<A NAME="toc_ja16701_3"> </A></FONT> <FONT SIZE=2><B>  Item&nbsp;14.&nbsp;&nbsp;&nbsp;&nbsp;Indemnification of Directors and Officers.    <BR>    </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;145(b) of the Delaware General Corporation Law provides, in general, that a corporation shall have the power to
indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its
favor because the person is or was a director or officer of the corporation, against any expenses (including attorneys' fees) actually and reasonably incurred by the person in connection with the
defense or settlement of such action or suit if the person acted in good faith and in a manner the person reasonably believed to be in or not opposed to the best interests of the corporation, except
that no indemnification shall be made in respect of any claim, issue or matter as to which such person shall have been adjudged to be liable to the corporation unless and only to the extent that the
Court of Chancery or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case,
such person is fairly and reasonably entitled to be indemnified for such expenses which the Court of Chancery or such other court shall deem proper. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;145(g)
of the Delaware General Corporation Law provides, in general, that a corporation shall have the power to purchase and maintain insurance on behalf of any person
who is or was a director or officer of the corporation against any liability asserted against the person in any such capacity, or arising out of the person's status as such, whether or not the
corporation would have the power to indemnify the person against such liability under the provisions of the law. Our amended and restated certificate of incorporation will provide that, to the fullest
extent permitted by applicable law, a director will not be liable to us or our stockholders for monetary damages for breach of fiduciary duty as a director. In addition, our amended and restated
certificate of incorporation will also provide that we will indemnify each director and officer and may indemnify employees and agents, as determined by our board, to the fullest extent provided by
the laws of the State of Delaware. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
foregoing statements are subject to the detailed provisions of section&nbsp;145 of the Delaware General Corporation Law and our amended and restated certificate of incorporation
and by-laws. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>II-1</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=235,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=637573,FOLIO='II-1',FILE='DISK108:[13ZDI1.13ZDI16701]JA16701A.;71',USER='BFLANNO',CD='23-MAR-2015;16:10' -->
<A NAME="page_ja16701_1_2"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;102
of the Delaware General Corporation Law permits the limitation of directors' personal liability to the corporation or its stockholders for monetary damages for breach
of fiduciary duties as a director except for (i)&nbsp;any breach of the director's duty of loyalty to the corporation or its stockholders, (ii)&nbsp;acts or omissions not in good faith or which
involve intentional misconduct or a knowing violation of the law, (iii)&nbsp;breaches under section&nbsp;174 of the Delaware General Corporation Law, which relates to unlawful payments of
dividends or unlawful stock repurchase or redemptions, and (iv)&nbsp;any transaction from which the director derived an improper personal benefit. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reference
is made to Item&nbsp;17 for our undertakings with respect to indemnification for liabilities arising under the Securities Act. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
maintain directors' and officers' liability insurance for our officers and directors. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
underwriting agreement for this offering will provide that each underwriter severally agrees to indemnify and hold harmless our Company, each of our directors, each of our officers
who signs the registration statement, and each person who controls our Company within the meaning of the Securities Act but only with respect to written information relating to such underwriter
furnished to our Company by or on behalf of such underwriter specifically for inclusion in the documents referred to in the foregoing indemnity. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
expect to enter into an indemnification agreement with each of our executive officers and directors that provides, in general, that we will indemnify them to the fullest extent
permitted by law in connection with their service to us or on our behalf.  </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="ja16701_item_15._recent_sales_of_unregistered_securities."> </A>
<A NAME="toc_ja16701_4"> </A></FONT> <FONT SIZE=2><B>  Item&nbsp;15.&nbsp;&nbsp;&nbsp;&nbsp;Recent Sales of Unregistered Securities.    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In October 2013, in connection with its formation, the registrant sold 100 of its shares of Class&nbsp;A common stock to VFH
Parent&nbsp;LLC, a wholly owned subsidiary of Virtu Financial, for an aggregate consideration of $100. The shares of common stock described above were issued in reliance on the exemption contained
in Section&nbsp;4(2) of the Securities Act on the basis that the transactions did not involve a public offering. No underwriters were involved in the sale. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
connection with the reorganization transactions, based on an assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated public offering price
range set forth on the cover page of this prospectus), the registrant will issue an aggregate of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of its Class&nbsp;A common stock to the Silver Lake Post-IPO
Stockholder. The
shares of Class&nbsp;A common stock described above will be issued in reliance on the exemption contained in Section&nbsp;4(2) of the Securities Act on the basis that the transaction will not
involve a public offering. No underwriters will be involved in the transaction. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
connection with the reorganization transactions, based on an assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the estimated public offering price
range set forth on the cover page of this prospectus), the registrant will issue an aggregate of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of its Class&nbsp;D common stock to the Founder Post-IPO Member and
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of its Class&nbsp;C common stock to the other Virtu Post-IPO Members. The shares of Class&nbsp;D common stock and Class&nbsp;C common stock described above will be
issued
in reliance on the exemption contained in Section&nbsp;4(2) of the Securities Act on the basis that the transaction will not involve a public offering. No underwriters will be involved in the
transaction. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>II-2</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=236,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=149142,FOLIO='II-2',FILE='DISK108:[13ZDI1.13ZDI16701]JA16701A.;71',USER='BFLANNO',CD='23-MAR-2015;16:10' -->
<A NAME="page_ja16701_1_3"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="ja16701_item_16._exhibits_and_financial_statement_schedules."> </A>
<A NAME="toc_ja16701_5"> </A></FONT> <FONT SIZE=2><B>  Item&nbsp;16.&nbsp;&nbsp;&nbsp;&nbsp;Exhibits and Financial Statement Schedules.    <BR>    </B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:100%;margin-left:0%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->


<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="51pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:38pt;"><FONT SIZE=2><B>Exhibit<BR>
Number

<!-- COMMAND=ADD_SCROPPEDRULE,38pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:55pt;"><FONT SIZE=2><B>Description

<!-- COMMAND=ADD_SCROPPEDRULE,55pt -->

 </B></FONT></DIV></TH>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2> 1.1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>Form of Underwriting Agreement.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>2.1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Reorganization Agreement.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>2.2</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Merger Agreement by and among Virtu Financial, Inc., Virtu Financial Merger Sub LLC, Virtu Financial Intermediate Holdings LLC, SLP&nbsp;III EW Feeder Corp., SLP&nbsp;III EW Feeder&nbsp;I, L.P. and Havelock
Fund Investments Pte Ltd.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>2.3</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Merger Agreement by and among Virtu Financial, Inc., Virtu Financial Merger Sub&nbsp;II LLC, Virtu Financial Intermediate Holdings&nbsp;II LLC and Wilbur Investments LLC.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>3.1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Amended and Restated Certificate of Incorporation of the Registrant.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>3.2</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Amended and Restated By-laws of the Registrant.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>4.1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Specimen Stock Certificate.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>5.1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>**</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Opinion of Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison&nbsp;LLP as to legality of the Class&nbsp;A common stock.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>8.1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Opinion of Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison&nbsp;LLP regarding tax matters.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Second Amended and Restated Credit Agreement, dated as of November&nbsp;8, 2013, among Virtu Financial&nbsp;LLC, VFH Parent&nbsp;LLC, the lenders party thereto and Credit Suisse AG, Cayman Islands Branch, as
administrative agent.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.2</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Indemnification Agreement.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.3</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Stockholders Agreement by and among Virtu Financial,&nbsp;Inc. and the stockholders named therein.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.4</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Exchange Agreement.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.5</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Registration Rights Agreement.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.6</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Tax Receivable Agreement by and among Virtu Financial,&nbsp;Inc., the Founder Post-IPO Member, Virtu Employee Holdco, the Management Members and other pre-IPO investors.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.7</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Tax Receivable Agreement by and between Virtu Financial,&nbsp;Inc. and the Investor Post-IPO Stockholders.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.8</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Tax Receivable Agreement by and among Virtu Financial,&nbsp;Inc. and the Silver Lake Post-IPO Members.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.9</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Third Amended and Restated Limited Liability Company Agreement of Virtu Financial&nbsp;LLC.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.10</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Amended and Restated Limited Liability Company Agreement of Virtu Employee Holdco LLC.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.11</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Class C Common Stock Subscription Agreement.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.12</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Class D Common Stock Subscription Agreement.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.13</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Amended and Restated Virtu Financial&nbsp;LLC Management Incentive Plan.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.14</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Virtu Financial,&nbsp;Inc. 2015 Management Incentive Plan.</FONT></TD>
</TR>
</TABLE></DIV>

<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>II-3</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=237,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=151233,FOLIO='II-3',FILE='DISK108:[13ZDI1.13ZDI16701]JA16701A.;71',USER='BFLANNO',CD='23-MAR-2015;16:10' -->
<A NAME="page_ja16701_1_4"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>
 <DIV style="padding:0pt;position:relative;width:100%;margin-left:0%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->


<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="51pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:38pt;"><FONT SIZE=2><B>Exhibit<BR>
Number

<!-- COMMAND=ADD_SCROPPEDRULE,38pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:55pt;"><FONT SIZE=2><B>Description

<!-- COMMAND=ADD_SCROPPEDRULE,55pt -->

 </B></FONT></DIV></TH>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2> 10.15</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>*</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>Form of Employee Option Award Agreement for use with the Virtu Financial,&nbsp;Inc. 2015 Management Incentive Plan.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.16</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Non-Employee Director Restricted Stock Unit Agreement.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.17</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Unit Vesting, Equity Retention and Restrictive Covenant Agreement to be entered into by certain members of Virtu Financial.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.18</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Unit Vesting, Equity Retention and Restrictive Covenant Agreement to be entered into by certain members of Virtu Employee Holdco.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.19</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Class&nbsp;A Common Stock Purchase Agreement.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.20</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Unit Purchase Agreement.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.21</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Employment Agreement by and between Virtu Financial, Inc. and Mr.&nbsp;Vincent Viola.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.22</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Employment Agreement by and between Virtu Financial, Inc. and Mr.&nbsp;Douglas A. Cifu.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.23</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Employment Agreement, dated August&nbsp;7, 2013, by and between Virtu Financial Operating&nbsp;LLC and Mr.&nbsp;Joseph A. Molluso.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.24</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Proprietary Invention Assignment, Noncompetition and Confidentiality Agreement, dated August&nbsp;7, 2013, by and between Virtu Financial Operating&nbsp;LLC and Mr.&nbsp;Joseph A. Molluso.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.25</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Employment Agreement, dated October&nbsp;29, 2014, by and between Virtu Financial Operating LLC and Mr.&nbsp;Venu Palaparthi.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>21.1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Subsidiaries of the Registrant.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>23.1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Consent of Deloitte&nbsp;&amp; Touche&nbsp;LLP, independent registered public accounting firm.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>23.2</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Consent of Deloitte&nbsp;&amp; Touche&nbsp;LLP, independent registered public accounting firm.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>23.3</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>**</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Consent of Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison&nbsp;LLP (included in Exhibit&nbsp;5.1 to this Registration Statement).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>23.4</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Consent of John P. Abizaid to be named as a director.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>23.5</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Consent of Michael Bingle to be named as a director.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>23.6</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Consent of William&nbsp;F. Cruger, Jr. to be named as a director.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>23.7</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>[Reserved.]</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>23.8</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Consent of Joseph Osnoss to be named as a director.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>23.9</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Consent of John F. Sandner to be named as a director.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>23.10</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Consent of Vincent Viola to be named as a director.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>24.1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Powers of Attorney.</FONT></TD>
</TR>
</TABLE></DIV>

<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" >


<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>*</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Previously
filed.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>**</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>To
be filed by amendment. </FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>II-4</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=238,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=1044053,FOLIO='II-4',FILE='DISK108:[13ZDI1.13ZDI16701]JA16701A.;71',USER='BFLANNO',CD='23-MAR-2015;16:10' -->
<A NAME="page_ja16701_1_5"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="ja16701_item_17._undertakings."> </A>
<A NAME="toc_ja16701_6"> </A></FONT> <FONT SIZE=2><B>  Item&nbsp;17.&nbsp;&nbsp;&nbsp;&nbsp;Undertakings.    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned registrant hereby undertakes to provide to the underwriters at the closing specified in the underwriting agreements certificates in such denominations
and registered in such names as required by the underwriters to permit prompt delivery to each purchaser. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant
pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as
expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by
a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with
the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned registrant hereby undertakes that: </FONT></P>

<UL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
purposes of determining any liability under the Securities Act of 1933, the information omitted from the form of prospectus filed as part of this registration
statement in reliance upon Rule&nbsp;430A and contained in a form of prospectus filed by the registrant pursuant to Rule&nbsp;424(b)(1) or (4)&nbsp;or
497(h) under the Securities Act shall be deemed to be part of this registration statement as of the time it was declared effective. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
the purpose of determining any liability under the Securities Act of 1933, each post-effective amendment that contains a form of prospectus shall be deemed to be a
new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. </FONT></P>

</UL>
<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>II-5</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=239,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=626076,FOLIO='II-5',FILE='DISK108:[13ZDI1.13ZDI16701]JA16701A.;71',USER='BFLANNO',CD='23-MAR-2015;16:10' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_jc16701_1_6"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="jc16701_signatures"> </A>
<A NAME="toc_jc16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  SIGNATURES    <BR>    </B></FONT></P>

<P style="font-family:arial;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the registrant duly caused this registration statement to be signed on its
behalf by the undersigned, thereunto duly authorized, in the City of New York, State of New York, on March&nbsp;23, 2015.

</FONT>

</P>
 <DIV style="padding:0pt;position:relative;width:100%;margin-left:0%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="48%" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="28pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="45%" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:arial;"><FONT SIZE=2><B> VIRTU FINANCIAL,&nbsp;INC.</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>By:</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>/s/&nbsp;DOUGLAS A. CIFU<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Name:&nbsp;&nbsp;Douglas A. Cifu<BR>
Title:&nbsp;Chief Executive Officer</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed on March&nbsp;23, 2015, by the following persons in the capacities indicated.

 </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="279pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:46pt;"><FONT SIZE=2><B>Signature

<!-- COMMAND=ADD_SCROPPEDRULE,46pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:21pt;"><FONT SIZE=2><B>Title

<!-- COMMAND=ADD_SCROPPEDRULE,21pt -->

 </B></FONT></DIV></TH>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:arial;"><BR><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>/s/&nbsp;DOUGLAS A. CIFU<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Douglas A. Cifu</FONT></TD>
<TD VALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>Chief Executive Officer (Principal Executive Officer) and Director</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:arial;"><BR><FONT SIZE=2>/s/&nbsp;JOSEPH MOLLUSO<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Joseph Molluso</FONT></TD>
<TD VALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:arial;"><BR><FONT SIZE=2>Chief Financial Officer<BR>
(Principal Financial and Accounting Officer)</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>II-6</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=240,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=1022954,FOLIO='II-6',FILE='DISK108:[13ZDI1.13ZDI16701]JC16701A.;33',USER='NLUCCA',CD='23-MAR-2015;14:48' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="page_je16701_1_7"> </A> </FONT> <FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<!-- TOC_END -->

<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg16701a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="je16701_exhibit_index"> </A>
<A NAME="toc_je16701_1"> </A>
<BR></FONT><FONT SIZE=2><B>  EXHIBIT INDEX    <BR>    </B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:100%;margin-left:0%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->


<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="51pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:38pt;"><FONT SIZE=2><B>Exhibit<BR>
Number

<!-- COMMAND=ADD_SCROPPEDRULE,38pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:55pt;"><FONT SIZE=2><B>Description

<!-- COMMAND=ADD_SCROPPEDRULE,55pt -->

 </B></FONT></DIV></TH>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2> 1.1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>Form of Underwriting Agreement.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>2.1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Reorganization Agreement.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>2.2</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Merger Agreement by and among Virtu Financial, Inc., Virtu Financial Merger Sub&nbsp;LLC, Virtu Financial Intermediate Holdings LLC, SLP III EW Feeder Corp., SLP III EW Feeder&nbsp;I, L.P. and Havelock Fund
Investments&nbsp;Pte&nbsp;Ltd.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>2.3</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Merger Agreement by and among Virtu Financial,&nbsp;Inc., Virtu Financial Merger Sub&nbsp;II&nbsp;LLC, Virtu Financial Intermediate Holdings&nbsp;II&nbsp;LLC and Wilbur Investments&nbsp;LLC.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>3.1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Amended and Restated Certificate of Incorporation of the Registrant.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>3.2</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Amended and Restated By-laws of the Registrant.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>4.1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Specimen Stock Certificate.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>5.1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>**</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Opinion of Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison&nbsp;LLP as to legality of the Class&nbsp;A common stock.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>8.1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Opinion of Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison&nbsp;LLP regarding tax matters.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Second Amended and Restated Credit Agreement, dated as of November&nbsp;8, 2013, among Virtu Financial&nbsp;LLC, VFH Parent&nbsp;LLC, the lenders party thereto and Credit Suisse AG, Cayman Islands Branch, as
administrative agent.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.2</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Indemnification Agreement.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.3</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Stockholders Agreement by and among Virtu Financial,&nbsp;Inc. and the stockholders named therein.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.4</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Exchange Agreement.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.5</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Registration Rights Agreement.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.6</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Tax Receivable Agreement by and among Virtu Financial,&nbsp;Inc., the Founder Post-IPO Member, Virtu Employee Holdco, the Management Members and other pre-IPO investors.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.7</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Tax Receivable Agreement by and between Virtu Financial,&nbsp;Inc. and the Investor Post-IPO Stockholders.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.8</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Tax Receivable Agreement by and among Virtu Financial,&nbsp;Inc. and the Silver Lake Post-IPO Members.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.9</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Third Amended and Restated Limited Liability Company Agreement of Virtu Financial&nbsp;LLC.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.10</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Amended and Restated Limited Liability Company Agreement of Virtu Employee Holdco&nbsp;LLC.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.11</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Class&nbsp;C Common Stock Subscription Agreement.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.12</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Class&nbsp;D Common Stock Subscription Agreement.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.13</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Amended and Restated Virtu Financial&nbsp;LLC Management Incentive Plan.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.14</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Virtu Financial,&nbsp;Inc. 2015 Management Incentive Plan.</FONT></TD>
</TR>
</TABLE></DIV>

<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>II-7</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=241,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=149607,FOLIO='II-7',FILE='DISK108:[13ZDI1.13ZDI16701]JE16701A.;52',USER='BFLANNO',CD='23-MAR-2015;16:11' -->
<A NAME="page_je16701_1_8"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg16701a_main_toc">Table of Contents</A></FONT></P>
 <DIV style="padding:0pt;position:relative;width:100%;margin-left:0%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->


<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="51pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:38pt;"><FONT SIZE=2><B>Exhibit<BR>
Number

<!-- COMMAND=ADD_SCROPPEDRULE,38pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH NOWRAP  ALIGN="CENTER" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:55pt;"><FONT SIZE=2><B>Description

<!-- COMMAND=ADD_SCROPPEDRULE,55pt -->

 </B></FONT></DIV></TH>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2> 10.15</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>*</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>Form of Employee Option Award Agreement for use with the Virtu Financial,&nbsp;Inc. 2015 Management Incentive Plan.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.16</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Non-Employee Director Restricted Stock Unit Agreement.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.17</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Unit Vesting, Equity Retention and Restrictive Covenant Agreement to be entered into by certain members of Virtu Financial.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.18</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Unit Vesting, Equity Retention and Restrictive Covenant Agreement to be entered into by certain members of Virtu Employee Holdco.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.19</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Class&nbsp;A Common Stock Purchase Agreement.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.20</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Unit Purchase Agreement.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.21</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Employment Agreement by and between Virtu Financial, Inc. and Mr.&nbsp;Vincent Viola.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.22</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Form of Employment Agreement by and between Virtu Financial, Inc. and Mr.&nbsp;Douglas A. Cifu.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.23</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Employment Agreement, dated August&nbsp;7, 2013, by and between Virtu Financial Operating&nbsp;LLC and Mr.&nbsp;Joseph A. Molluso.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.24</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Proprietary Invention Assignment, Noncompetition and Confidentiality Agreement, dated August&nbsp;7, 2013, by and between Virtu Financial Operating&nbsp;LLC and Mr.&nbsp;Joseph A. Molluso.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>10.25</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Employment Agreement, dated October&nbsp;29, 2014, by and between Virtu Financial Operating LLC and Mr.&nbsp;Venu Palaparthi.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>21.1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Subsidiaries of the Registrant.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>23.1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Consent of Deloitte&nbsp;&amp; Touche&nbsp;LLP, independent registered public accounting firm.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>23.2</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Consent of Deloitte&nbsp;&amp; Touche&nbsp;LLP, independent registered public accounting firm.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>23.3</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>**</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Consent of Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison&nbsp;LLP (included in Exhibit&nbsp;5.1 to this Registration Statement).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>23.4</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Consent of John&nbsp;P. Abizaid to be named as a director.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>23.5</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Consent of Michael Bingle to be named as a director.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>23.6</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Consent of William&nbsp;F. Cruger, Jr. to be named as a director.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>23.7</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>[Reserved.]</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>23.8</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Consent of Joseph Osnoss to be named as a director.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>23.9</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Consent of John&nbsp;F. Sandner to be named as a director.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>23.10</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Consent of Vincent Viola to be named as a director.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><BR><FONT SIZE=2>24.1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>*</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Powers of Attorney.</FONT></TD>
</TR>
</TABLE></DIV>

<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="10%" ALIGN="LEFT" >


<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>*</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Previously
filed.
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>**</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>To
be filed by amendment. </FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>II-8</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=242,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="1",CHK=421498,FOLIO='II-8',FILE='DISK108:[13ZDI1.13ZDI16701]JE16701A.;52',USER='BFLANNO',CD='23-MAR-2015;16:11' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->
<BR>
<!-- TOCEXISTFLAG -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>a2223212zex-1_1.htm
<DESCRIPTION>EX-1.1
<TEXT>
<HTML>
<HEAD>
</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>
<div style="font-family:Times New Roman;">
<p align="right" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 1.1</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Virtu Financial, Inc.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Class A Common Stock, Par Value $0.00001</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><b><i><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Underwriting Agreement</font></u></i></b></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="right" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">], 2015</font></p>
<p align="right" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Goldman, Sachs &amp; Co.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">J.P. Morgan Securities LLC</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sandler O&#146;Neill &amp; Partners, L.P.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As representatives of the several Underwriters</font></p>
<p style="margin:0in 0in .0001pt .25in;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">named in Schedule I hereto,</font></p>
<p style="margin:0in 0in .0001pt .25in;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">c/o Goldman, Sachs &amp; Co.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">200 West Street,</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New York, New York 10282-2198</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">J.P. Morgan Securities LLC</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">383 Madison Avenue</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New York, New York 10179</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sandler O&#146;Neill &amp; Partners, L.P.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1251 Avenue of the Americas, 6th Floor</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New York, New York 10020</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ladies and Gentlemen:</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Virtu Financial, Inc., a Delaware corporation (the &#147;Company&#148;), proposes, subject to the terms and conditions stated herein, to issue and sell to the Underwriters, for whom you are acting as representatives (the &#147;Representatives&#148;), named in Schedule I hereto (the &#147;Underwriters&#148;) an aggregate of [</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">] shares of Class A common stock, par value $0.00001 per share (the &#147;Firm Shares&#148;) of the Company and, at the election of the Underwriters, up to [</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">] additional shares of Class A common stock, par value $0.00001 per share (the &#147;Optional Shares&#148;) of the Company.&#160; The Firm Shares and the Optional Shares that the Underwriters elect to purchase pursuant to Section 2 hereof are referred to collectively as the &#147;Shares</font><font size="2" style="font-size:10.0pt;">.</font><font size="2" style="font-size:10.0pt;">&#148;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The transactions set forth in this paragraph and described more fully in the Pricing Prospectus (as defined below) under &#147;Organizational Structure&#148; are referred to collectively as the &#147;Reorganization Transactions.&#148;&#160; Prior to the First Time of Delivery (as defined below): (i) the Company will become the sole managing member of Virtu Financial LLC, a Delaware limited liability company (the &#147;LLC&#148;); (ii) through a series of transactions, Virtu East MIP LLC, a Delaware </font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=1,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=888308,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:43 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">limited liability company and one of two entities managed by the Company&#146;s Founder and Executive Chairman will liquidate with its equity interests in the LLC either being distributed to its members or contributed to Virtu Employee Holdco LLC, a Delaware limited liability company and the other entity managed by the Company&#146;s Founder and Executive Chairman; (iii) Virtu Financial Holdings LLC and VV Investment LLC, each a Delaware limited liability company and an affiliate of the Company&#146;s Founder, will liquidate and distribute their equity interests in the LLC to their respective equityholders, including TJMT Holdings LLC, a Delaware limited liability company and the other affiliate of the Company&#146;s Founder and Executive Chairman (&#147;TJMT Holdings&#148;); (iv) SLP III EW Feeder II, L.P., a Delaware limited partnership and an affiliate of Silver Lake Partners and Temasek Holdings (Private) Limited (&#147;Temasek&#148;) will distribute its equity interests in the LLC to its equityholders, including Silver Lake Technology Associates III, L.P., a Delaware limited partnership and an affiliate of Silver Lake Partners, and SLP III EW Feeder LLC, a Delaware limited liability company and another affiliate of Silver Lake Partners and Temasek (&#147;Silver Lake/Temasek LLC&#148;); (v) through a series of transactions, the Company will acquire equity interests in the LLC as a result of certain mergers involving the Company&#146;s wholly owned subsidiaries, Silver Lake/Temasek LLC and Wilbur Investments LLC, a Delaware limited liability company, in exchange for issuing to affiliates of Silver Lake Partners and Temasek (the &#147;Investor Post-IPO Stockholders&#148;) an amount of shares of Class A Common Stock (as defined below) of the Company to be determined as described in the Pricing Prospectus and rights to receive payments under a tax receivable agreement; (vi) all of the existing equity interests in the LLC (&#147;Outstanding Interests&#148;) will be reclassified into non-voting common interest units (&#147;Virtu Financial Units&#148;) as described in the Pricing Prospectus; and (vii) the Company will amend and restate its certificate of incorporation (the &#147;Certificate of Incorporation&#148;) authorizing it to issue shares of Class&nbsp;A common stock, par value $0.00001 per share (the &#147;Class A Common Stock&#148;), shares of Class B common stock, par value $0.00001 per share (the &#147;Class B Common Stock&#148;), shares of Class C common stock, par value $0.00001 per share (the &#147;Class C Common Stock&#148;) and shares of Class D common stock, par value $0.00001 per share (the &#147;Class D Common Stock&#148; and, together with the Class A Common Stock, the Class B Common Stock and the Class C Common Stock, the &#147;Common Stock&#148;), in each case with the rights and privileges as set out in the Certificate of Incorporation and described in the Pricing Prospectus.&#160; After giving effect to the aforementioned transactions, the remaining members of the LLC (each, a &#147;Virtu Post-IPO Member&#148;) will (a) subscribe for and purchase shares of Class C Common Stock or Class D Common Stock at a purchase price of $0.00001 per share and in an amount equal to the number of Virtu Financial Units held by such Virtu Post-IPO Member and (b) be granted certain rights to exchange its Virtu Financial Units and Class C Common Stock or Class D Common Stock for shares of Class A Common Stock or Class B Common Stock, as applicable, as described in the Pricing Prospectus.&#160; In connection with the Reorganization Transactions, the Company will enter into separate tax receivable agreements with (x) the Investor Post-IPO Stockholders, (y) certain affiliates of Silver Lake </font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2<a name="26867-3-KB-01_PB_2_111114_7056"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=2,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=1045286,FOLIO='2',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:43 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Partners (the &#147;Silver Lake Post-IPO Members&#148;) and (z) TJMT Holdings and the other post-IPO members of the LLC, which will provide such parties the right to receive from the Company certain payments contemplated therein.&#160; The documents set forth on Schedule III hereto, which have been, or will be, amended and restated or entered into, as applicable, pursuant to the Reorganizations Transactions, are referred to as the &#147;Reorganization Documents.&#148;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A portion of the net proceeds of the Shares will be used to finance the Company&#146;s repurchase of shares of (i) Class A Common Stock from SLP III EW Feeder I LP and (ii) Virtu Financial Units, together with corresponding shares of Class C Common Stock, as applicable, from the Silver Lake Post-IPO Members and TJMT Holdings, in each case at the price equal to the purchase price paid by the Underwriters for the Shares as set out in Section 2 hereof and as further described in the &#147;Use of Proceeds&#148; section of the Pricing Prospectus.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company hereby acknowledges that, in connection with the proposed offering of the Shares, it has requested UBS Financial Services Inc. (&#147;UBS-FinSvc&#148;) to administer a directed share program (the &#147;Directed Share Program&#148;) under which up to [</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">]% of the Shares to be purchased by the Underwriters under this Agreement shall be reserved for sale by UBS-FinSvc at the initial public offering price to the Company&#146;s directors, officers, employees, consultants, team members and other individuals otherwise associated with the Company and members of their respective families (collectively, &#147;Participants&#148;), as set forth in the Pricing Prospectus under the heading &#147;Underwriting&#151;Directed Share Program&#148; (the &#147;Directed Share Program&#148;). It is understood that any number of those designated to participate in the Directed Share Program may decline to do so.&#160; The Shares to be sold by UBS-FinSvc or its affiliates pursuant to the Directed Share Program are referred to hereinafter as the &#147;Directed Shares.&#148; Any Directed Shares not orally confirmed for purchase by any Participants by 9:00 a.m., New York City time, on the business day following the date on which this Agreement is executed will be offered to the public by the Underwriters as set forth in the Prospectus (as defined below).</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Each of the Company and the LLC represents and warrants to, and agrees with, each of the Underwriters that:</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">A registration statement on Form S-1 (File No. 333-194473) (the &#147;Initial Registration Statement&#148;) in respect of the Shares has been filed with the Securities and Exchange Commission (the &#147;Commission&#148;); the Initial Registration Statement and any post-effective amendment thereto, each in the form heretofore delivered to you, and, excluding exhibits thereto, to you for each of the other Underwriters, have been declared effective by the Commission in such form; other than a registration statement, if any, increasing the size of the offering (a &#147;Rule 462(b) Registration Statement&#148;), filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended (the &#147;Act&#148;), which became effective upon filing, no other document with respect to the Initial Registration Statement has </font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3<a name="26867-3-KB-01_PB_3_111126_5335"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=3,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=209185,FOLIO='3',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:43 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">heretofore been filed with the Commission; and no stop order suspending the effectiveness of the Initial Registration Statement, any post-effective amendment thereto or the Rule 462(b) Registration Statement, if any, has been issued and no proceeding for that purpose has been initiated or, to the Company&#146;s or LLC&#146;s knowledge, threatened by the Commission (any preliminary prospectus included in the Initial Registration Statement or filed with the Commission pursuant to Rule 424(a) under the Act is hereinafter called a &#147;Preliminary Prospectus&#148;; the various parts of the Initial Registration Statement and the Rule 462(b) Registration Statement, if any, including all exhibits thereto and including the information contained in the form of final prospectus filed with the Commission pursuant to Rule 424(b) under the Act in accordance with Section 6(a) hereof and deemed by virtue of Rule 430A under the Act to be part of the Initial Registration Statement at the time it was declared effective, each as amended at the time such part of the Initial Registration Statement became effective or such part of the Rule 462(b) Registration Statement, if any, became or hereafter becomes effective, are hereinafter collectively called the &#147;Registration Statement&#148;; the Preliminary Prospectus relating to the Shares that was included in the Registration Statement immediately prior to the Applicable Time (as defined in Section 1(d) hereof) is hereinafter called the &#147;Pricing Prospectus&#148;; the final prospectus, in the form first filed pursuant to Rule 424(b) under the Act, is hereinafter called the &#147;Prospectus&#148;; and any &#147;issuer free writing prospectus&#148; as defined in Rule 433 under the Act relating to the Shares is hereinafter called an &#147;Issuer Free Writing Prospectus&#148;);</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">No order preventing or suspending the use of any Preliminary Prospectus or any Issuer Free Writing Prospectus has been issued by the Commission, and each Preliminary Prospectus, at the time of filing thereof, conformed in all material respects to the requirements of the Act and the rules and regulations of the Commission thereunder, and did not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, however, that this representation and warranty shall not apply to any statements or omissions made in reliance upon and in conformity with information furnished in writing to the Company by or on behalf of an Underwriter through the Representatives expressly for use therein;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Any oral or written communication with potential investors undertaken in reliance on Section 5(d) of the Act is hereinafter called a &#147;Section 5(d) Communication&#148;; and any Section 5(d) Communication that is a written communication within the meaning of Rule 405 under the Act is hereinafter called a &#147;Section 5(d) Writing&#148;;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">For the purposes of this Agreement, the &#147;Applicable Time&#148; is [</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">] [pm] (Eastern time) on the date of this Agreement.&#160; The Pricing Prospectus, as of the Applicable Time, did not include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; </font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4<a name="26867-3-KB-01_PB_4_111135_5796"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=4,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=905711,FOLIO='4',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:43 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and each Issuer Free Writing Prospectus listed on Schedule&nbsp;II(a) hereto does not conflict with the information contained in the Registration Statement, the Pricing Prospectus or the Prospectus and each such Issuer Free Writing Prospectus and each Section 5(d) Writing listed on Schedule II(b) hereto, as supplemented by and taken together with the Pricing Prospectus as of the Applicable Time, did not include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, however, that this representation and warranty shall not apply to statements or omissions made in reliance upon and in conformity with information furnished in writing to the Company by or on behalf of an Underwriter through the Representatives expressly for use therein;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">From the time of the initial confidential submission of a draft registration statement relating to the Shares with the Commission (or, if earlier, the first date on which a Section 5(d) Communication was made) through the date hereof, the Company has been and is an &#147;emerging growth company&#148; as defined in Section 2(a)(19) of the Act (an &#147;Emerging Growth Company&#148;);</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Registration Statement conforms, and the Prospectus and any further amendments or supplements to the Registration Statement and the Prospectus will conform, in all material respects to the requirements of the Act and the rules and regulations of the Commission thereunder and do not and will not, as of the applicable effective date as to each part of the Registration Statement and as of the applicable filing date as to the Prospectus and any amendment or supplement thereto, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading; provided, however, that this representation and warranty shall not apply to any statements or omissions made in reliance upon and in conformity with information furnished in writing to the Company by or on behalf of an Underwriter through the Representatives expressly for use therein;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Neither the Company, the LLC nor any of the LLC&#146;s direct or indirect subsidiaries (the &#147;Subsidiaries&#148;) has sustained since the date of the latest audited financial statements included in the Pricing Prospectus any material loss or interference with its business from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor dispute or court, governmental or self-regulatory action, order or decree, otherwise than as disclosed in the Pricing Prospectus; and, since the respective dates as of which information is given in the Registration Statement and the Pricing Prospectus, there has not been any change in the capital stock or increase in the long-term debt of the Company, the LLC or any Subsidiary (other than borrowings in the ordinary course of business) or any material adverse change, or any development involving a prospective material adverse change, in or affecting the general affairs, management, financial position, stockholders</font><font size="2" style="font-size:10.0pt;">&#146;</font><font size="2" style="font-size:10.0pt;"> equity, members&#146; interests or results of operations of the Company, the LLC and the Subsidiaries </font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5<a name="26867-3-KB-01_PB_5_111221_2897"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=5,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=693934,FOLIO='5',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:43 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">taken as a whole (a &#147;Material Adverse Effect&#148;), otherwise than as disclosed in the Pricing Prospectus;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company, the LLC and the Subsidiaries have good and marketable title in fee simple to all real property and good and marketable title to all personal property owned by them, in each case free and clear of all liens, encumbrances and defects except such as are described in the Pricing Prospectus or such as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; and except as disclosed in the Pricing Prospectus, any real property and buildings held under lease by the Company, the LLC and the Subsidiaries are held by them under valid, subsisting and enforceable leases with such exceptions do not interfere with the use made and proposed to be made of such property and buildings by the Company, the LLC and the Subsidiaries, except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company has been duly incorporated and is validly existing as a corporation in good standing under the laws of the State of Delaware, with power and authority (corporate and other) to own its properties and conduct its business as described in the Pricing Prospectus, and has been duly qualified as a foreign corporation for the transaction of business and is in good standing under the laws of each other jurisdiction in which it owns or leases properties or conducts any business so as to require such qualification, except where the failure to be so qualified or in good standing in any such jurisdiction would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The LLC has been duly formed and is validly existing as a limited liability company in good standing under the laws of the State of Delaware; the LLC has all necessary limited liability company power and authority to own and hold its properties and conduct its business as described in the Pricing Prospectus, and has been duly qualified as a foreign corporation for the transaction of business and is in good standing under the laws of each other jurisdiction in which it owns or leases properties or conducts any business so as to require such qualification, except where the failure to be so qualified or in good standing in any such jurisdiction would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(k)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">(i) The Company has an authorized capitalization as set forth in the Pricing Prospectus; (ii) all of the Common Stock has been duly and validly authorized and (x) in the case of the Shares, when issued and delivered against payment therefor as provided herein and (y) in the case of the Common Stock to be issued pursuant to the Reorganization Transactions, upon the consummation of the Reorganization Transactions, will be duly and validly issued, fully paid and non-assessable and conform in all material respects to the Description of Capital Stock contained in the Pricing Prospectus and Prospectus; (iii) all of the issued Outstanding Interests have been duly and validly authorized and issued; and (iv) </font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6<a name="26867-3-KB-01_PB_6_111229_3020"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=6,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=7066,FOLIO='6',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:43 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">all of the Virtu Financial Units have been duly and validly authorized and, upon the consummation of the Reorganization Transactions, will be duly and validly issued;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(l)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Schedule IV to this Agreement includes a true and complete list of each Subsidiary that is a &#147;Significant Subsidiary&#148; (as such term is defined in Rule&nbsp;1.02(w) of Regulation S-X) (each, a &#147;Significant Subsidiary&#148;), including the jurisdiction of incorporation or formation of such Significant Subsidiary; each Significant Subsidiary has been duly incorporated or organized and is validly existing as a corporation or other legal entity and, to the extent applicable, in good standing under the laws of its jurisdiction of incorporation or organization; and all of the issued shares of capital stock or membership or other equity interests of each Significant Subsidiary have been duly and validly authorized and issued, are, in the case of the capital stock of U.S. corporations, fully paid and non-assessable, and (except for directors&#146; qualifying shares and except as otherwise set forth in the Pricing Prospectus) are owned directly or indirectly by the LLC, free and clear of all liens, encumbrances, equities or claims (other than transfer restrictions imposed by the Act, the securities or Blue Sky laws imposed by certain jurisdictions, the limited liability company agreement of the LLC and security interests granted pursuant to the agreements governing the Company&#146;s, the LLC&#146;s and the Subsidiaries&#146; outstanding indebtedness);</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(m)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The issue and sale of the Shares and the compliance by the Company and the LLC with this Agreement and, to the extent applicable, the compliance by the Company, the LLC and each Subsidiary with the Reorganization Documents, and the consummation of the transactions herein or therein contemplated, including the consummation of the Reorganization Transactions, will not (A)&nbsp;conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company, the LLC or any Subsidiary is a party or by which the Company, the LLC or any Subsidiary is bound or to which any of the property or assets of the Company, the LLC or any Subsidiary is subject, or (B)&nbsp;result in any violation of (1)&nbsp;the provisions of the Certificate of Incorporation or by-laws of the Company or the articles or certificate of formation and the limited liability company agreement of the LLC or (2) any statute or any order, rule or regulation of any court, governmental agency, self-regulatory organization or body having jurisdiction over the Company, the LLC or any Subsidiary or any of their properties, except, in the case of clauses (A) and (B)(2), for any conflict, breach, violation or default that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect or otherwise affect the validity of the Shares; and no consent, approval, authorization, order, registration or qualification of or with any such court, governmental agency, self-regulatory organization or body is required for the issue and sale of the Shares or the consummation by the Company and the LLC of the transactions contemplated by this Agreement or the Reorganization Transactions, except the registration under the Act of the Shares, the approval by the Financial Industry Regulatory Authority (&#147;FINRA&#148;) of the </font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7<a name="26867-3-KB-01_PB_7_111238_7748"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=7,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=982935,FOLIO='7',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:43 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">underwriting terms and arrangements and such consents, approvals, authorizations, registrations or qualifications as (i) may be required under state securities or Blue Sky laws in connection with the purchase and distribution of the Shares by the Underwriters or (ii) will have been obtained or made on or prior to the closing of the offering;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(n)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Neither the Company, the LLC nor any Subsidiary is (A) in violation of its certificate of incorporation or by-laws, certificate of formation, any limited liability company agreement, any limited partnership agreement or other formation documents, as applicable, or (B) in default in the performance or observance of any obligation, agreement, covenant or condition contained in any indenture, mortgage, deed of trust, loan agreement, lease or other agreement or instrument to which it is a party or by which it or any of its properties may be bound, except, in the case of clause (B), for such defaults that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(o)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The statements set forth in the Pricing Prospectus and Prospectus under the caption &#147;Description of Capital Stock&#148;, insofar as they purport to constitute a summary of the terms of the Common Stock, under the captions &#147;Material U.S. Federal Tax Considerations for Non-U.S. Holders&#148;, &#147;Organizational Structure&#148;, &#147;Business Regulation&#148; and &#147;Certain Relationships and Related Party Transactions&#151;Amended and Restated Virtu Financial Limited Liability Company Agreement&#148;, insofar as they purport to describe the provisions of the laws and documents referred to therein, are accurate, complete and fair in all material respects;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(p)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Other than as disclosed in the Pricing Prospectus, there are no legal, governmental or self-regulatory proceedings pending to which the Company, the LLC or any Subsidiary is a party or of which any property of the Company, the LLC or any Subsidiary is the subject which, if determined adversely to the Company, the LLC or any Subsidiary, would, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; and, to the best of the Company&#146;s knowledge, no such proceedings are threatened or contemplated by governmental authorities or self-regulatory organizations or threatened by others;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(q)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Neither the Company nor the LLC is and, after giving effect to the offering and sale of the Shares and the application of the proceeds thereof, will be an &#147;investment company&#148;, as such term is defined in the Investment Company Act of 1940, as amended;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(r)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">At the time of filing the Initial Registration Statement the Company was not, and the Company is not, an &#147;ineligible issuer,&#148; as defined under Rule 405 under the Act;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8<a name="26867-3-KB-01_PB_8_111258_141"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=8,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=749533,FOLIO='8',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:43 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(s)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Deloitte &amp; Touche LLP, who have certified certain financial statements included in the Pricing Prospectus, is an independent public accountant as required by the Act and the rules and regulations of the Commission thereunder;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(t)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Each of the Company and the LLC maintains a system of internal controls over financial reporting (as such term is defined in Rule 13a-15(f) under the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;)) that complies with the requirements of the Exchange Act and has been designed by the Company&#146;s principal executive officer and principal financial officer, or under their supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.&#160; Except as disclosed in the Pricing Prospectus and the Prospectus, (i) the Company&#146;s and the LLC&#146;s internal control over financial reporting is effective, (ii) neither the Company nor the LLC is aware of any material weaknesses in its internal control over financial reporting and (iii) since the end of the most recent audited fiscal year for which financial statements are included in the Pricing Prospectus, to the knowledge of the Company there has not been any significant deficiency or material weakness in the Company&#146;s or the LLC&#146;s internal control over financial reporting (whether or not remediated);</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(u)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Except as disclosed in the Pricing Prospectus and the Prospectus, since the date of the latest audited financial statements included in the Pricing Prospectus, there has been no change in the Company&#146;s or the LLC&#146;s internal controls over financial reporting that has materially affected, or is reasonably likely to materially affect, the Company&#146;s or the LLC&#146;s, as applicable, internal control over financial reporting;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Except as disclosed in the Pricing Prospectus and the Prospectus, the Company maintains disclosure controls and procedures (as such term is defined in Rule 13a-15(e) under the Exchange Act) designed to ensure that material information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act is made known to the Company&#146;s principal executive officer and principal financial officer by others within those entities; the Company will carry out evaluations, under the supervision and with the participation of management of the effectiveness of the design and operation of the Company&#146;s disclosure controls and procedures in accordance with Rule&nbsp;13a-15(e) of the Exchange Act.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(w)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">This Agreement has been duly authorized, executed and delivered by the Company and the LLC;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(x)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The consolidated financial statements, including the notes and supporting schedules thereto, included in the Registration Statement, the Pricing Prospectus and the Prospectus present fairly in all material respects the consolidated financial position at the dates indicated and the cash flows and </font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9<a name="26867-3-KB-01_PB_9_111311_7608"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=9,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=603267,FOLIO='9',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:43 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">results of operations for the periods indicated of the LLC and its consolidated subsidiaries. Such financial statements have been prepared in conformity with U.S. GAAP applied on a consistent basis throughout the periods presented.&#160; The pro forma financial statements and the related notes thereto included in the Registration Statement, the Pricing Prospectus and the Prospectus present fairly in all material respects the information shown therein, have been prepared in accordance with the Commission&#146;s rules and guidelines with respect to pro forma financial statements and have been properly compiled on the bases described therein, and the assumptions used in the preparation thereof are reasonable and the adjustments used therein are appropriate to give effect to the transactions and circumstances referred to therein.&#160; Except as included therein, no historical or pro forma financial statements or supporting schedules are required to be included in the Registration Statement, the Pricing Prospectus and the Prospectus under the Act or the rules and regulations promulgated thereunder;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(y)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company, the LLC and the Subsidiaries own, possess or license, or can acquire on reasonable terms, sufficient rights to use all trademarks, service marks, trade names, trade dress, domain names (including all goodwill associated with the foregoing), patents, inventions, copyrights, software (including trading algorithms and related code), know-how, trade secrets (including all registrations and applications for registration of any of the foregoing, to the extent applicable) and all other similar types of intellectual property rights (collectively, &#147;Intellectual Property&#148;) material to the conduct of their respective businesses as conducted and proposed to be conducted, and the conduct of the businesses of the Company, the LLC and the Subsidiaries has not infringed, misappropriated or otherwise conflicted with any Intellectual Property rights of others in any respect, except in each case as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.&#160; Neither the Company, the LLC nor any Subsidiary has received any notice of any claim of infringement, misappropriation or conflict with any Intellectual Property of others, or any notice challenging the validity, scope, or enforceability of any Intellectual Property or its rights therein, except in each case as would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. The Company, the LLC and the Subsidiaries have taken reasonable steps in accordance with normal industry practice to maintain the confidentiality of all material trade secrets and confidential information owned, used or held for use by the Company, the LLC or the Subsidiaries, and no such trade secrets or confidential information have been disclosed other than to parties who are bound by written confidentiality agreements, except in each case as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(z)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The computers, computer software, firmware, middleware, servers, workstations, routers, hubs, switches, data communications lines, cables and links and all other information technology equipment owned, licensed, leased or otherwise used by the Company, the LLC or the Subsidiaries operate in a manner that permits the Company, the LLC and the Subsidiaries to conduct their </font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10<a name="26867-3-KB-01_PB_10_111320_8146"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=10,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=224136,FOLIO='10',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:43 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">respective businesses as currently conducted, and the Company, the LLC and the Subsidiaries have implemented reasonable backup and disaster recovery systems and technology with respect to the foregoing, except in each case as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(aa)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Other than as disclosed in the Pricing Prospectus and the Prospectus, none of the following events has occurred or exists: (A) a failure to fulfill the obligations, if any, under the minimum funding standards of Section 302 of the United States Employee Retirement Income Security Act of 1974, as amended (&#147;ERISA&#148;), and the regulations and published interpretations thereunder with respect to a Plan, determined without regard to any waiver of such obligations or extension of any amortization period; (B) an audit or investigation by the Internal Revenue Service, the U.S. Department of Labor, the Pension Benefit Guaranty Corporation or any other federal or state governmental agency or any foreign regulatory agency with respect to any Plan; or (C) any violation of law or applicable qualification standards, with respect to any Plan, except, in the case of (A), (B) and (C), as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Other than as set forth in the Pricing Prospectus and the Prospectus, none of the following events has occurred or is reasonably likely to occur: (A) an increase in the aggregate amount of contributions required to be made to all Plans in the current fiscal year of the Company, the LLC and the Subsidiaries compared to the amount of such contributions made in the most recently completed fiscal year of the Company, the LLC and the Subsidiaries; (B) an increase in the &#147;accumulated post-retirement benefit obligations&#148; (within the meaning of Statement of Financial Accounting Standards 106) of the Company, the LLC and the Subsidiaries compared to the amount of such obligations in the most recently completed fiscal year of the Company, the LLC and the Subsidiaries; (C) liability under Title IV of ERISA with respect to the termination of, or withdrawal from, any Plan; or (D) the filing of a material claim by one or more employees or former employees of the Company, the LLC or any Subsidiary related to their employment, except, in the case of (A), (B), (C) and (D), as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. For purposes of this paragraph, the term &#147;Plan&#148; means a plan (within the meaning of Section 3(3) of ERISA) subject to Title IV of ERISA with respect to which the Company, the LLC or any Subsidiary may have any liability;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(bb)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">(A) There are no strikes or other labor disputes against the Company, the LLC or any Subsidiary pending or, to the knowledge of the Company, threatened; and (B) hours worked by and payment made to employees of the Company, the LLC and the Subsidiaries have not been in violation of the Fair Labor Standards Act or any other applicable laws dealing with such matters, except, in the case of (A) and (B), as would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11<a name="26867-3-KB-01_PB_11_111330_7091"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=11,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=266771,FOLIO='11',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:43 2015' -->

<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(cc)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company, the LLC and the Subsidiaries possess all licenses, permits, certificates, registrations, memberships and other authorizations issued by, and have made all declarations and filings with, the appropriate federal, state, local or foreign governmental or regulatory authorities that are required or necessary to own or lease, as the case may be, and to operate their respective properties and to carry on their respective businesses as now or proposed to be conducted as set forth in the Pricing Prospectus (&#147;Permits&#148;), except where the failure to possess or make the same would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; the Company, the LLC and the Subsidiaries have fulfilled and performed all of their respective obligations with respect to such Permits and no event has occurred which allows, or after notice or lapse of time would allow, revocation or termination thereof or results in any other impairment of the rights of the holder of any such Permit except, in each case, as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(dd)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The business of each of the Company, the LLC, and the Subsidiaries has been conducted in compliance with all applicable federal, state, and foreign laws, rules&nbsp;and regulations governing transactions in securities, futures, and other financial instruments, except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ee)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Other than Virtu Advisors LLC, which is duly registered as a commodity pool operator under the Commodity Exchange Act of 1936, as amended (the &#147;Commodity Exchange Act&#148;), none of the Company, the LLC or any of the Subsidiaries (A) is or has been registered, (B)&nbsp;is required or has been required to be registered or (C)&nbsp;as a result of the transactions contemplated by this Agreement, will be required to register as an investment adviser under the Investment Advisers Act of 1940, as amended, or as a commodity trading advisor, a commodity pool operator, a swap dealer, or a futures commission merchant under the Commodity Exchange Act, or as a broker or a dealer under the Exchange Act or the rules&nbsp;and regulations thereunder, except to the extent that any failure to do so would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.&#160; Virtu Financial BD LLC and Virtu Financial Capital Markets LLC (each, a &#147;Virtu BD&#148;) is each registered with the Commission as a broker-dealer;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ff)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Each Virtu BD is registered as a broker-dealer with the Commission, is a member in good standing of each self-regulatory organization of which it is required to be a member, and is duly registered or qualified as a broker-dealer in each jurisdiction where the conduct of its business requires such registration or qualification, and such registrations, memberships or qualifications have not been suspended, revoked or rescinded and remain in full force and effect, except in each case as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. All persons associated with each Virtu BD are duly registered with any self-regulatory organization and each jurisdiction where the association of such persons with the</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12<a name="26867-3-KB-03_PB_12_112107_455"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=12,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=95387,FOLIO='12',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:26 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Virtu BD requires such registration, and such registrations have not been suspended, revoked or rescinded and remain in full force and effect, except in each case as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Other than with respect to customers that are Subsidiaries, the business activities engaged in by the Virtu BDs do not involve the handling of customer funds or securities. The broker-dealer operations of the Virtu BDs have been conducted in compliance with all applicable requirements of the Exchange Act and the rules&nbsp;and regulations of the Commission and each applicable self-regulatory organization and state securities regulatory authority, including with respect to its implementation and maintenance of risk management controls and supervisory procedures in compliance with Rule&nbsp;15c3-5 under the Exchange Act, except in each case as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(gg)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Except as disclosed in the Pricing Prospectus and the Prospectus, there are no contracts, agreements or understandings between the Company, the LLC or any Subsidiary and any person granting such person the right to require the Company, the LLC or any Subsidiary to file a registration statement under the Act with respect to any securities of the Company, the LLC or any Subsidiary;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(hh)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Neither the Company, the LLC nor any Subsidiary has taken or will take, directly or indirectly, any action that is designed to or that has constituted or that might reasonably be expected to cause or result in stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Shares (except that no representation is made hereto as to the activities of the Underwriters and their affiliates);</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Nothing has come to the attention of any executive officer or director of the Company that has caused such persons to believe that the statistical, industry</font><font size="2" style="font-size:10.0pt;">-</font><font size="2" style="font-size:10.0pt;">related and market</font><font size="2" style="font-size:10.0pt;">-</font><font size="2" style="font-size:10.0pt;">related data included in the Registration Statement, the Pricing Prospectus and the Prospectus is not based on or derived from estimates and sources which the Company reasonably believes are reliable and accurate in all material respects;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(jj)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Each of the Company, the LLC and the Subsidiaries has filed all income and other material tax returns required to be filed through the date hereof or have requested extensions (except where the failure to file would not, individually or in the aggregate, have a Material Adverse Effect) and have paid all income and other taxes required to be paid, except for cases in which the failure to pay would not have a Material Adverse Effect or cases in which any taxes are being contested in good faith in appropriate proceedings and for which adequate reserves have been established in accordance with U.S. GAAP; except as otherwise disclosed in the Pricing Prospectus and the Prospectus, there is no tax deficiency that has been, or would reasonably be expected to be, asserted against the Company, the LLC or any Subsidiary or any of their respective properties or assets, which would, individually or in the aggregate, reasonably be</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13<a name="26867-3-KB-03_PB_13_112118_4141"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=13,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=934915,FOLIO='13',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:26 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">expected to have a Material Adverse Effect; for purposes of this paragraph, taxes and tax deficiencies include all assessed taxes, and interest and penalties with respect to any of the foregoing;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(kk)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company, the LLC and the Subsidiaries have such insurance or self</font><font size="2" style="font-size:10.0pt;">-</font><font size="2" style="font-size:10.0pt;">insurance as are, and in amounts that, in the Company&#146;s reasonable judgment, prudent and customary in the business in which they are engaged and insures against such losses and risks as are adequate to protect the Company, the LLC and the Subsidiaries and their respective businesses, except where the failure to maintain such insurance would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; and neither the Company, the LLC nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage at a cost that would not reasonably be expected to have a Material Adverse Effect or to provide self</font><font size="2" style="font-size:10.0pt;">-</font><font size="2" style="font-size:10.0pt;">insurance as may be necessary to continue its business</font><font size="2" style="font-size:10.0pt;">;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ll)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Except as disclosed in the Pricing Prospectus and the Prospectus, none of the Company, the LLC or any Subsidiary is a party to any contract, agreement or understanding with any person (other than this Agreement) that would give rise to a valid claim against any of them or any Underwriter for a brokerage commission, finder&#146;s fee or like payment in connection with the offering and sale of the Shares;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(mm)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">None of the Company, the LLC, any Subsidiary or, to the knowledge of the Company, any director, employee, agent, affiliate or other person associated with or acting on behalf of the Company, the LLC or any Subsidiary has (A)&nbsp;used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expense relating to political activity; (B)&nbsp;made or taken an act in furtherance of an offer, promise or authorization of any direct or indirect unlawful payment or benefit to any foreign or domestic government official or employee, including of any government-owned or controlled entity or of a public international organization, or any person acting in an official capacity for or on behalf of any of the foregoing, or any political party or party official or candidate for political office; (C)&nbsp;violated or is in violation of any provision of the Foreign Corrupt Practices Act of 1977, as amended, or any applicable law or regulation implementing the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, or committed an offence under the Bribery Act 2010 of the United Kingdom or any other applicable anti-bribery or anti-corruption law; or (D)&nbsp;made, offered, agreed, requested or taken an act in furtherance of any unlawful bribe or other unlawful benefit, including, without limitation, any rebate, payoff, influence payment, kickback or other unlawful or improper payment or benefit.&#160; The Company, the LLC and each Subsidiary have instituted, maintain and enforce, and will continue to maintain and enforce, policies and procedures designed to promote and ensure compliance with all applicable anti-bribery and anti-corruption laws;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14<a name="26867-3-KB-03_PB_14_112128_8627"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=14,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=396242,FOLIO='14',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:26 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(nn)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The operations of the Company, the LLC and the Subsidiaries are and have been conducted at all times in material compliance with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all jurisdictions in which the Company, the LLC and the Subsidiaries conduct business, the rules&nbsp;and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the &#147;Money Laundering Laws&#148;), and no action, suit or proceeding or, to the knowledge of the Company and the LLC, investigation by or before any court or governmental agency, authority or body, self-regulatory organization or any arbitrator,&#160; involving the Company, the LLC or any Subsidiary with respect to the Money Laundering Laws is pending or, to the knowledge of the Company, threatened;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(oo)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">None of the Company, the LLC, the Subsidiaries nor, to the knowledge of the Company, any director, officer, agent, employee or affiliate of the Company, the LLC or any Subsidiary is currently subject to any sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department, the U.S. Department of Commerce, the U.S. Department of State, the United Nations Security Council, the European Union, Her Majesty&#146;s Treasury, or other relevant sanctions authorities (collectively, &#147;Sanctions&#148;), nor is the Company, the LLC or any Subsidiary located, organized or resident in a country or territory that is the subject of Sanctions.&#160; The Company will not, directly or indirectly, use the proceeds of the issuance and sale of the Shares, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other person or entity, (i)&nbsp;to fund any activities of or business with any person that, at the time of such funding, is the subject of Sanctions, or is in Burma/Myanmar, Cuba,&nbsp;Iran, Libya, North Korea, Sudan or in any other country or territory that, at the time of such funding, is the subject of Sanctions, or (ii)&nbsp;in any other manner that will result in any person (including any person participating in the offering, whether as underwriter, advisor, investor or otherwise) becoming the subject of Sanctions;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(pp)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Registration Statement, any Preliminary Prospectus, the Pricing Prospectus and the Prospectus comply, and any amendments or supplements thereto will comply, in all material respects, with any applicable laws or regulations of foreign jurisdictions in which the Registration Statement, any Preliminary Prospectus, the Pricing Prospectus and the Prospectus, as amended or supplemented, if applicable, are distributed in connection with the Directed Share Program;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(qq)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">No consent, approval, authorization or order of, or qualification with, any governmental body or agency, other than those obtained heretofore, is required in connection with the offering of the Directed Shares in any jurisdiction where the Directed Shares are being offered; and</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15<a name="26867-3-KB-03_PB_15_112135_7906"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=15,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=445606,FOLIO='15',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:26 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(rr)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company has not offered, or caused UBS-FinSvc or its affiliates to offer, Shares to any person pursuant to the Directed Share Program with the specific intent to unlawfully influence (A)&nbsp;a customer or supplier of the Company to alter the customer&#146;s or supplier&#146;s level or type of business with the Company, or (B)&nbsp;a trade journalist or publication to write or publish favorable information about the Company or its products.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">(a)&nbsp;Subject to the terms and conditions herein set forth, the Company agrees to issue and sell to each of the Underwriters, and each of the Underwriters agrees, severally and not jointly, to purchase from the Company, at a purchase price per share of $[</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">], the number of Firm Shares set forth opposite the name of such Underwriter in Schedule I hereto and (b)&nbsp;in the event and to the extent that the Representatives, on behalf of the Underwriters, shall exercise the election to purchase Optional Shares as provided below, the Company agrees to issue and sell to each of the Underwriters, and each of the Underwriters agrees, severally and not jointly, to purchase from the Company, at the purchase price per share set forth in clause (a)&nbsp;of this Section&nbsp;2, that portion of the number of Optional Shares as to which such election shall have been exercised (to be adjusted by you so as to eliminate fractional shares) determined by multiplying such number of Optional Shares by a fraction, the numerator of which is the maximum number of Optional Shares which such Underwriter is entitled to purchase as set forth opposite the name of such Underwriter in Schedule I hereto and the denominator of which is the maximum number of Optional Shares that all of the Underwriters are entitled to purchase hereunder.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company hereby grants to the Underwriters the right to purchase at their election up to [</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">] Optional Shares, at the purchase price per share set forth in the paragraph above, for the sole purpose of covering sales of shares in excess of the number of Firm Shares, provided that the purchase price per Optional Share shall be reduced by an amount per share equal to any dividends or distributions declared by the Company and payable on the Firm Shares but not payable on the Optional Shares.&#160; Any such election to purchase Optional Shares may be exercised only by written notice from you to the Company, given within a period of 30 calendar days after the date of this Agreement, setting forth the aggregate number of Optional Shares to be purchased and the date on which such Optional Shares are to be delivered, as determined by you but in no event earlier than the First Time of Delivery (as defined in Section&nbsp;4 hereof) or, unless you and the Company otherwise agree in writing, no earlier than two and no later than ten business days after the date of such notice.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Upon the authorization by you of the release of the Shares, the several Underwriters propose to offer the Shares for sale upon the terms and conditions set forth in the Prospectus.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">(a)&nbsp;The Shares to be purchased by each Underwriter hereunder, in definitive form, and in such authorized denominations and registered in such names as the Representatives may request upon at least forty-eight hours&#146; prior</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16<a name="26867-3-KB-03_PB_16_112143_3736"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=16,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=765324,FOLIO='16',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:26 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">notice to the Company shall be delivered by or on behalf of the Company to the Representatives, through the facilities of the Depository Trust Company (&#147;DTC&#148;), for the account of such Underwriter, against payment by or on behalf of such Underwriter of the purchase price therefor by wire transfer of Federal (same-day) funds to the account specified by the Company to the Representatives at least forty-eight hours in advance.&#160; The Company will, to the extent any Shares are represented by certificates, cause the certificates representing such Shares to be made available for checking and packaging at least twenty-four hours prior to the Time of Delivery (as defined below) with respect thereto at the office of DTC or its designated custodian (the &#147;Designated Office&#148;).&#160; The time and date of such delivery and payment shall be, with respect to the Firm Shares, 9:30&nbsp;a.m., New York City time, on [</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">], 20[</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">] or such other time and date as the Representatives and the Company may agree upon in writing, and, with respect to the Optional Shares, 9:30&nbsp;a.m., New York time, on the date specified by the Representatives in the written notice given by the Representatives of the Underwriters&#146; election to purchase such Optional Shares, or such other time and date as the Representatives and the Company may agree upon in writing.&#160; Such time and date for delivery of the Firm Shares is herein called the &#147;First Time of Delivery&#148;, such time and date for delivery of the Optional Shares, if not the First Time of Delivery, is herein called the &#147;Second Time of Delivery&#148;, and each such time and date for delivery is herein called a &#147;Time of Delivery&#148;.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The documents to be delivered at each Time of Delivery by or on behalf of the parties hereto pursuant to Section&nbsp;8 hereof, including the cross receipt for the Shares and any additional documents requested by the Underwriters pursuant to Section&nbsp;8(j)&nbsp;hereof, will be delivered at the offices of Davis Polk&nbsp;&amp; Wardwell LLP, 450 Lexington Avenue, New York, New York 10017 (the &#147;Closing Location&#148;), and the Shares will be delivered at the Designated Office, all at such Time of Delivery.&#160; A meeting will be held at the Closing Location at 2:00&nbsp;p.m., New York City time, on the New York Business Day next preceding such Time of Delivery, at which meeting the final drafts of the documents to be delivered pursuant to the preceding sentence will be available for review by the parties hereto.&#160; For the purposes of this Section&nbsp;4, &#147;New York Business Day&#148; shall mean each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in New York City are generally authorized or obligated by law or executive order to close.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company agrees with each of the Underwriters:</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">To prepare the Prospectus in a form approved by you and to file such Prospectus pursuant to Rule&nbsp;424(b)&nbsp;under the Act not later than the Commission&#146;s close of business on the second business day following the execution and delivery of this Agreement, or, if applicable, such earlier time as may be required by Rule&nbsp;430A(a)(3)&nbsp;under the Act; to make no further amendment or any supplement to the Registration Statement or the Prospectus prior to the last Time of Delivery which shall be reasonably disapproved by you promptly after reasonable notice thereof; to advise you, promptly after it receives</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17<a name="26867-3-KB-03_PB_17_112150_9621"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=17,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=508470,FOLIO='17',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:26 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">notice thereof, of the time when any amendment to the Registration Statement has been filed or becomes effective or any amendment or supplement to the Prospectus has been filed and to furnish you with copies thereof; to file promptly all material required to be filed by the Company with the Commission pursuant to Rule&nbsp;433(d)&nbsp;under the Act; to advise you, promptly after it receives notice thereof, of the issuance by the Commission of any stop order or of any order preventing or suspending the use of any Preliminary Prospectus or other prospectus in respect of the Shares, of the suspension of the qualification of the Shares for offering or sale in any jurisdiction, of the initiation or threatening of any proceeding for any such purpose, or of any request by the Commission for the amending or supplementing of the Registration Statement or the Prospectus or for additional information; and, in the event of the issuance of any stop order or of any order preventing or suspending the use of any Preliminary Prospectus or other prospectus or suspending any such qualification, to promptly use its best efforts to obtain the withdrawal of such order;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">To promptly notify you if the Company ceases to be an Emerging Growth Company at any time prior to the later of (i)&nbsp;completion of the distribution of the Shares within the meaning of the Act and (ii)&nbsp;completion of the 180-day restricted period referred to in Section&nbsp;5(f)&nbsp;hereof;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Promptly from time to time to take such action as you may reasonably request to qualify the Shares for offering and sale under the securities laws of such jurisdictions as you may request and to comply with such laws so as to permit the continuance of sales and dealings therein in such jurisdictions for as long as may be necessary to complete the distribution of the Shares, provided that in connection therewith the Company shall not be required to qualify as a foreign corporation or to file a general consent to service of process or subject itself to taxation for doing business in any jurisdiction;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Prior to 5:00&nbsp;p.m., New York City time, on the second New York Business Day after the date of this Agreement and from time to time, to furnish the Underwriters with written and electronic copies of the Prospectus in New York City in such quantities as you may reasonably request, and, if the delivery of a prospectus (or in lieu thereof, the notice referred to in Rule&nbsp;173(a) under the Act) is, based on the advice of counsel, required at any time prior to the expiration of nine months after the time of issue of the Prospectus in connection with the offering or sale of the Shares and if at such time any event shall have occurred as a result of which the Prospectus as then amended or supplemented would include an untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made when such Prospectus (or in lieu thereof, the notice referred to in Rule&nbsp;173(a)&nbsp;under the Act) is delivered, not misleading, or, if for any other reason it shall be necessary during such same period to amend or supplement the Prospectus in order to comply with the Act, to notify you and upon your request to prepare and furnish without charge to each Underwriter and to any dealer in securities as many written and electronic copies</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18<a name="26867-3-KB-03_PB_18_112159_8715"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=18,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=402794,FOLIO='18',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:26 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">as you may from time to time reasonably request of an amended Prospectus or a supplement to the Prospectus which will correct such statement or omission or effect such compliance; and in case any Underwriter is required to deliver a prospectus (or in lieu thereof, the notice referred to in Rule&nbsp;173(a)&nbsp;under the Act) in connection with sales of any of the Shares at any time nine months or more after the time of issue of the Prospectus, upon your request but at the expense of such Underwriter, to prepare and deliver to such Underwriter as many written and electronic copies as you may request of an amended or supplemented Prospectus complying with Section&nbsp;10(a)(3) of the Act;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">To make generally available to its securityholders as soon as practicable, but in any event not later than sixteen months after the effective date of the Registration Statement (as defined in Rule&nbsp;158(c)&nbsp;under the Act), an earnings statement of the Company and its subsidiaries (which need not be audited) complying with Section&nbsp;11(a)&nbsp;of the Act and the rules&nbsp;and regulations of the Commission thereunder (including, at the option of the Company, Rule&nbsp;158);</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">(1)&nbsp;During the period beginning from the date hereof and continuing to and including the date 180 days after the date of the Prospectus (the &#147;Lock-Up Period&#148;), not to (i)&nbsp;offer, sell, contract to sell, pledge, grant any option to purchase, make any short sale or otherwise transfer or dispose of, directly or indirectly, or file with the Commission a registration statement under the Act relating to, any securities of the Company that are substantially similar to the Shares, including but not limited to any options or warrants to purchase shares of Common Stock or any securities that are convertible into or exchangeable for, or that represent the right to receive, Common Stock (including any Virtu Financial Units) or any such substantially similar securities, or publicly disclose the intention to make any offer, sale, pledge, disposition or filing or (ii)&nbsp;enter into any swap or other agreement that transfers, in whole or in part, any of the economic consequences of ownership of the Common Stock or any such other securities, whether any such transaction described in clause (i)&nbsp;or (ii)&nbsp;above is to be settled by delivery of Common Stock or such other securities, in cash or otherwise (other than (A)&nbsp;the Shares to be sold hereunder, (B)&nbsp;the issuance by the Company of shares of Common Stock upon the conversion or exchange of convertible or exchangeable securities outstanding as of the date of this Agreement, (C)&nbsp;the issuance by the Company of options to purchase shares of Common Stock and other equity incentive compensation, including restricted stock or restricted stock units, under stock option or similar plans described in the Prospectus or under stock option or similar plans of companies acquired by the Company in effect on the date of acquisition, (D)&nbsp;any shares of Common Stock issued upon the exercise of options granted under such stock option or similar plans described in the Prospectus or under stock option or similar plans of companies acquired by the Company in effect on the date of acquisition, (E)&nbsp;the filing by the Company of any registration statement on Form&nbsp;S-8 with the Commission relating to the offering of securities pursuant to the terms of such stock option or similar plans and (F) the issuance by the Company of Common Stock or securities convertible into Common Stock in connection with an acquisition or business combination</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19<a name="26867-3-KB-03_PB_19_112217_563"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=19,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=320472,FOLIO='19',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:26 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(including the filing of a registration statement on Form&nbsp;S-4 or other appropriate form with respect thereto), provided that the aggregate number of shares of Common Stock issued pursuant to this clause (F)&nbsp;during the Lock-Up Period shall not exceed 5% of the total number of shares of Common Stock issued and outstanding on the closing date of the offering, and provided further that, in the case of any issuance pursuant to this clause (F), any recipient of shares of Common Stock shall have executed and delivered to the Representatives a lock-up agreement in the form attached as Annex I without the prior written consent of the Representatives;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">If the Representatives, in their sole discretion, agree to release or waive the restrictions set forth in a lock-up letter described in Section&nbsp;8(j)&nbsp;hereof for an officer or director of the Company and provides the Company with notice of the impending release or waiver at least three business days before the effective date of the release or waiver, the Company agrees to announce the impending release or waiver by a press release substantially in the form of Annex II hereto through a major news service at least two business days before the effective date of the release or waiver;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">To use the net proceeds received by it from the sale of the Shares pursuant to this Agreement in the manner specified in the Pricing Prospectus under the caption &#147;Use of Proceeds&#148;;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">To use commercially reasonable efforts to list, subject to notice of issuance, the Shares on the NASDAQ Stock Market LLC (the &#147;Exchange&#148;);</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">If the Company elects to rely upon Rule&nbsp;462(b), the Company shall file a Rule&nbsp;462(b)&nbsp;Registration Statement with the Commission in compliance with Rule&nbsp;462(b)&nbsp;by 10:00&nbsp;p.m., Washington, D.C. time, on the date of this Agreement, and the Company shall at the time of filing either pay to the Commission the filing fee for the Rule&nbsp;462(b)&nbsp;Registration Statement or give irrevocable instructions for the payment of such fee pursuant to Rule&nbsp;3a(c)&nbsp;of the Commission&#146;s Informal and Other Procedures (16 CFR 202.3a);</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Upon request of any Underwriter, to furnish, or cause to be furnished, to such Underwriter an electronic version of the Company&#146;s trademarks, servicemarks and corporate logo for use on the website, if any, operated by such Underwriter for the purpose of facilitating the on-line offering of the Shares (the &#147;License&#148;); provided, however, that the License shall be used solely for the purpose described above, is granted without any fee and may not be assigned or transferred;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(k)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">To cause each participant in the Directed Share Program to execute a lock-up agreement in the form attached as Annex I and otherwise to cause the Directed Shares to be restricted from sale, transfer, assignment, pledge or hypothecation to such extent as may be required by FINRA and its rules; to direct the transfer agent to place stop transfer restrictions upon such</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20<a name="26867-3-KB-03_PB_20_112225_9497"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=20,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=210373,FOLIO='20',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:26 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Directed Shares during the Lock-Up Period or any such longer period of time as may be required by FINRA and its rules; and to comply with all applicable securities and other laws, rules&nbsp;and regulations in each jurisdiction in which the Directed Shares are offered in connection with the Directed Share Program;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">(a)&nbsp;The Company represents and agrees that, without the prior consent of the Representatives, it has not made and will not make any offer relating to the Shares that would constitute a &#147;free writing prospectus&#148; as defined in Rule&nbsp;405 under the Act; each Underwriter represents and agrees that, without the prior consent of the Company and the Representatives, it has not made and will not make any offer relating to the Shares that would constitute a free writing prospectus; any such free writing prospectus the use of which has been consented to by the Company and the Representatives is listed on Schedule II(a)&nbsp;hereto;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company represents and agrees that (i) it has not engaged in, or authorized any other person to engage in, any Section 5(d) Communications, other than Section 5(d) Communications with the prior consent of the Representatives with entities that are qualified institutional buyers as defined in Rule 144A under the Act or institutions that are accredited investors as defined in Rule 501(a) under the Act; and (ii) it has not distributed, or authorized any other person to distribute, any Section 5(d) Writings, other than those distributed with the prior consent of the Representatives that are listed on Schedule II(b) hereto; and the Company reconfirms that the Underwriters have been authorized to act on its behalf in engaging in Section 5(d) Communications;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company has complied and will comply with the requirements of Rule&nbsp;433 under the Act applicable to any Issuer Free Writing Prospectus, including timely filing with the Commission or retention where required and legending; and the Company represents that it has satisfied and agrees that it will satisfy the conditions under Rule&nbsp;433 under the Act to avoid a requirement to file with the Commission any electronic road show;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Each Underwriter represents and agrees that any Section&nbsp;5(d)&nbsp;Communications undertaken by it were with entities that are qualified institutional buyers as defined in Rule&nbsp;144A under the Act or institutions that are accredited investors as defined in Rule&nbsp;501(a)&nbsp;under the Act;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company agrees that if at any time following issuance of an Issuer Free Writing Prospectus or Section&nbsp;5(d) Writing any event occurred or occurs as a result of which such Issuer Free Writing Prospectus or Section&nbsp;5(d)&nbsp;Writing would conflict with the information in the Registration Statement, the Pricing Prospectus or the Prospectus or would include an untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances then prevailing, not misleading, the Company will give prompt notice thereof to the Representatives and, if requested by the Representatives, will prepare and furnish without charge</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21<a name="26867-3-KB-03_PB_21_112258_3641"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=21,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=163227,FOLIO='21',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:26 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">to each Underwriter an Issuer Free Writing Prospectus, Section&nbsp;5(d)&nbsp;Writing or other document which will correct such conflict, statement or omission; provided, however, that this representation and warranty shall not apply to any statements or omissions in an Issuer Free Writing Prospectus or Section&nbsp;5(d)&nbsp;Writing made in reliance upon and in conformity with information furnished in writing to the Company by or on behalf of an Underwriter through the Representatives expressly for use therein.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company covenants and agrees with the several Underwriters that the Company will pay or cause to be paid the following: (i) the fees, disbursements and expenses of the Company&#146;s counsel and accountants in connection with the registration of the Shares under the Act and all other expenses in connection with the preparation, printing, reproduction and filing of the Registration Statement, any Preliminary Prospectus, any Issuer Free Writing Prospectus and the Prospectus and amendments and supplements thereto and the mailing and delivering of copies thereof to the Underwriters and dealers; (ii)&nbsp;the cost of printing this Agreement, the Blue Sky Memorandum and any other documents in connection with the offering, purchase, sale and delivery of the Shares; (iii)&nbsp;all expenses in connection with the qualification of the Shares for offering and sale under state securities laws as provided in Section&nbsp;5(c) hereof, including the reasonable and documented out-of-pocket fees and disbursements of one firm of counsel for the Underwriters in connection with such qualification and in connection with the Blue Sky survey; (iv)&nbsp;all fees and expenses in connection with listing the Shares on the Exchange; (v)&nbsp;the filing fees incident to, and the reasonable and documented out-of-pocket fees and disbursements of one firm of counsel for the Underwriters in connection with, any required review by FINRA, of the terms of the sale of the Shares; (vi) the cost of preparing stock certificates, if applicable; (vii)&nbsp;the cost and charges of any transfer agent or registrar; (viii)&nbsp;all other costs and expenses incident to the performance of its obligations hereunder which are not otherwise specifically provided for in this Section; and (ix)&nbsp;all reasonable fees and disbursements of counsel incurred by the Underwriters in connection with the Directed Share Program and stamp duties, similar taxes or duties or other taxes, if any, incurred by the Underwriters in connection with the Directed Share Program; provided, however, that reimbursements to the Underwriters, if any, shall be limited to expenses actually incurred; provided, further that in the case of clauses (iii)&nbsp;and (v)&nbsp;hereof the Company shall not be required to reimburse fees and expenses of counsel for the Underwriters in excess of $60,000 in the aggregate; and provided, further, that 50% of the cost of any aircraft chartered in connection with the roadshow shall be paid by the Underwriters (with the Company paying the remaining 50% of such cost).&#160; It is understood, however, that, except as provided in this Section, and Sections 9, 10 and 12 hereof, the Underwriters will pay all of their own costs and expenses, including the fees and disbursements of their counsel, stock transfer taxes on resale of any of the Shares by them and any advertising expenses connected with any offers they may make.</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22<a name="26867-3-KB-03_PB_22_112325_5250"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=22,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=491857,FOLIO='22',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:26 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The obligations of the Underwriters hereunder, as to the Shares to be delivered at each Time of Delivery, shall be subject, in their discretion, to the condition that all representations and warranties and other statements of the Company herein are, at and as of such Time of Delivery, true and correct, the condition that the Company shall have performed all of its obligations hereunder theretofore to be performed, and the following additional conditions:</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Prospectus shall have been filed with the Commission pursuant to Rule&nbsp;424(b)&nbsp;under the Act within the applicable time period prescribed for such filing by the rules&nbsp;and regulations under the Act and in accordance with Section&nbsp;5(a)&nbsp;hereof; all material required to be filed by the Company pursuant to Rule&nbsp;433(d)&nbsp;under the Act shall have been filed with the Commission within the applicable time period prescribed for such filing by Rule&nbsp;433; if the Company has elected to rely upon Rule&nbsp;462(b)&nbsp;under the Act, the Rule&nbsp;462(b)&nbsp;Registration Statement shall have become effective by 10:00&nbsp;p.m., Washington, D.C. time, on the date of this Agreement; no stop order suspending the effectiveness of the Registration Statement or any part thereof shall have been issued and no proceeding for that purpose shall have been initiated or, to the Company&#146;s knowledge, threatened by the Commission; no stop order suspending or preventing the use of the Prospectus or any Issuer Free Writing Prospectus shall have been initiated or, to the Company&#146;s knowledge, threatened by the Commission; and all requests for additional information on the part of the Commission shall have been complied with to your reasonable satisfaction;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Davis Polk&nbsp;&amp; Wardwell LLP, counsel for the Underwriters, shall have furnished to you such written opinion or opinions, dated such Time of Delivery, in form and substance reasonably satisfactory to you, and such counsel shall have received such papers and information as they may reasonably request to enable them to pass upon such matters;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison LLP, counsel for the Company, shall have furnished to you their written opinion and negative assurance letter, each dated such Time of Delivery, in substantially the form attached as Annex III(a)&nbsp;and III(b) hereto;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Bracewell&nbsp;&amp; Giuliani, LLP, regulatory counsel for the Company, shall have furnished to you their written opinion, dated such Time of Delivery, in substantially the form attached as Annex IV hereto;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">On the date of the Prospectus at a time prior to the execution of this Agreement, at 9:30&nbsp;a.m., New York City time, on the effective date of any post-effective amendment to the Registration Statement filed subsequent to the date of this Agreement and also at each Time of Delivery, Deloitte&nbsp;&amp; Touche LLP shall have furnished to you a letter or letters, dated the respective dates of delivery thereof, in form and substance reasonably satisfactory to you;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23<a name="26867-3-KB-03_PB_23_112341_7672"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=23,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=1000556,FOLIO='23',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:26 2015' -->

<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">(i)&nbsp;Neither the Company, the LLC nor any Subsidiary shall have sustained since the date of the latest audited financial statements included in the Pricing Prospectus any loss or interference with its business from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor dispute or court, governmental or self-regulatory action, order or decree, otherwise than as disclosed in the Pricing Prospectus, and (ii)&nbsp;since the respective dates as of which information is given in the Pricing Prospectus, there shall not have been any change in the capital stock or long-term debt of the Company, the LLC or any Subsidiary or any change, or any development involving a prospective change, in or affecting the general affairs, management, financial position, stockholders&#146; equity or results of operations of the Company, the LLC </font><font size="2" style="font-size:10.0pt;">and</font><font size="2" style="font-size:10.0pt;"> Subsidiaries, taken as a whole, otherwise than as disclosed in the Pricing Prospectus, the effect of which, in any such case described in clause (i)&nbsp;or (ii), is in your judgment so material and adverse as to make it impracticable or inadvisable to proceed with the public offering or the delivery of the Shares being delivered at such Time of Delivery on the terms and in the manner contemplated in the Prospectus;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">On or after the Applicable Time (i)&nbsp;no downgrading shall have occurred in the rating accorded the Company&#146;s, the LLC&#146;s or any Subsidiary&#146;s debt securities by any &#147;nationally recognized statistical rating organization&#148;, as that term is defined by the Commission for purposes of Section&nbsp;3(a)(62) of the Exchange Act, and (ii)&nbsp;no such organization shall have publicly announced that it has under surveillance or review, with possible negative implications, its rating of any of the Company&#146;s, the LLC&#146;s or any Subsidiary&#146;s debt securities;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">On or after the Applicable Time there shall not have occurred any of the following: (i)&nbsp;a suspension or material limitation in trading in securities generally on the Exchange or the New York Stock Exchange; (ii)&nbsp;a suspension or material limitation in trading in the Company&#146;s securities on the Exchange; (iii)&nbsp;a general moratorium on commercial banking activities declared by either Federal, New York State authorities or a material disruption in commercial banking or securities settlement or clearance services in the United States; (iv)&nbsp;the outbreak or escalation of hostilities involving the United States or the declaration by the United States of a national emergency or war or (v)&nbsp;the occurrence of any other calamity or crisis or any change in financial, political or economic conditions in the United States or elsewhere, if the effect of any such event specified in clause (iv)&nbsp;or (v)&nbsp;in your judgment makes it impracticable or inadvisable to proceed with the public offering or the delivery of the Shares being delivered at such Time of Delivery on the terms and in the manner contemplated in the Prospectus;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Shares to be sold at such Time of Delivery shall have been duly listed, subject to notice of issuance, on the Exchange;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company shall have obtained and delivered to the Underwriters executed copies of an agreement from each director, officer and</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24<a name="26867-3-KB-05_PB_24_112720_536"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=24,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=987197,FOLIO='24',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:44 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">stockholder of the Company listed on Schedule V hereto, substantially to the effect set forth in Annex I hereof in form and substance satisfactory to you;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(k)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company shall have complied with the provisions of Section&nbsp;5(d)&nbsp;hereof with respect to the furnishing of prospectuses prior to 5:00&nbsp;p.m., New York City time, on the second New York Business Day after the date of this Agreement;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(l)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Each of the Company and the LLC shall have furnished or caused to be furnished to you at such Time of Delivery certificates of officers of the Company and the LLC, as applicable, reasonably satisfactory to you as to the accuracy of the representations and warranties of the Company or the LLC, as applicable, herein at and as of such Time of Delivery, as to the performance by the Company and the LLC, as applicable, of all of its obligations hereunder to be performed at or prior to such Time of Delivery, as to the matters set forth in subsections (a)&nbsp;and (f)&nbsp;of this Section&nbsp;and as to such other matters as you may reasonably request; and</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(m)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Reorganization Transactions shall have been completed prior to or simultaneously with the First Time of Delivery (except those Reorganization Transactions that are ongoing or recurring in nature), on the terms set forth in the Pricing Prospectus under &#147;Organizational Structure&#148;.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">(a)&nbsp;The Company and the LLC will jointly and severally indemnify and hold harmless each Underwriter against any losses, claims, damages or liabilities, joint or several, to which such Underwriter may become subject, under the Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in the Registration Statement, any Preliminary Prospectus, the Pricing Prospectus or the Prospectus, or any amendment or supplement thereto, any Issuer Free Writing Prospectus or any &#147;issuer information&#148; filed or required to be filed pursuant to Rule&nbsp;433(d)&nbsp;under the Act, or any Section&nbsp;5(d)&nbsp;Writing, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or arise out of or are based upon the Directed Share Program except insofar as such loss, damage, expense, liability or claim is finally judicially determined to have resulted from the gross negligence or willful misconduct of the Underwriters in conducting the Directed Share Program, and will reimburse each Underwriter for any legal or other expenses reasonably incurred by such Underwriter in connection with investigating or defending any such action or claim as such expenses are incurred; provided, however, that the Company and the LLC shall not be liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in the Registration Statement, any Preliminary Prospectus, the Pricing Prospectus or the Prospectus, or any amendment or supplement thereto, or any Issuer Free</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">25<a name="26867-3-KB-05_PB_25_112727_5926"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=25,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=737593,FOLIO='25',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:44 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Writing Prospectus, or any Section&nbsp;5(d)&nbsp;Writing, in reliance upon and in conformity with written information furnished to the Company by or on behalf of any Underwriter through the Representatives expressly for use therein.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Each Underwriter will indemnify and hold harmless the Company</font><font size="2" style="font-size:10.0pt;"> and the LLC</font><font size="2" style="font-size:10.0pt;"> against any losses, claims, damages or liabilities to which the Company may become subject, under the Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in the Registration Statement, any Preliminary Prospectus, the Pricing Prospectus or the Prospectus, or any amendment or supplement thereto, any Issuer Free Writing Prospectus, or any Section&nbsp;5(d)&nbsp;Writing, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in the Registration Statement, any Preliminary Prospectus, the Pricing Prospectus or the Prospectus, or any amendment or supplement thereto, any Issuer Free Writing Prospectus, or any Section&nbsp;5(d)&nbsp;Writing, in reliance upon and in conformity with written information furnished to the Company by such Underwriter through the Representatives expressly for use therein; and will reimburse the Company and the LLC for any legal or other expenses reasonably incurred by the Company in connection with investigating or defending any such action or claim as such expenses are incurred.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Promptly after receipt by an indemnified party under subsection (a)&nbsp;or (b)&nbsp;above of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party under such subsection, notify the indemnifying party in writing of the commencement thereof; but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to any indemnified party otherwise than under such subsection.&#160; In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate therein and, to the extent that it shall wish, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel reasonably satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, be counsel to the indemnifying party), and, after notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof, the indemnifying party shall not be liable to such indemnified party under such subsection for any legal expenses of other counsel or any other expenses, in each case subsequently incurred by such indemnified party, in connection with the defense thereof other than reasonable costs of investigation.&#160; No indemnifying party shall, without the written consent of the indemnified party, effect the settlement or compromise of, or consent to the entry of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification or contribution may be sought hereunder (whether or not the</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26<a name="26867-3-KB-05_PB_26_112734_4688"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=26,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=463245,FOLIO='26',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:44 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">indemnified party is an actual or potential party to such action or claim) unless such settlement, compromise or judgment (i)&nbsp;includes an unconditional release of the indemnified party from all liability arising out of such action or claim and (ii)&nbsp;does not include a statement as to or an admission of fault, culpability or a failure to act, by or on behalf of any indemnified party. No indemnified party shall, without the written consent of the indemnifying party, effect the settlement or compromise of, or consent to the entry of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification or contribution may be sought hereunder, and no indemnifying party shall be liable for any settlement or compromise of, or consent to the entry of judgment with respect to, any such action or claim effected without its consent, in each case which consent shall not be unreasonably withheld.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">If the indemnification provided for in this Section&nbsp;9 is unavailable to or insufficient to hold harmless an indemnified party under subsection (a)&nbsp;or (b)&nbsp;above in respect of any losses, claims, damages or liabilities (or actions in respect thereof) referred to therein, then each indemnifying party shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (or actions in respect thereof) in such proportion as is appropriate to reflect the relative benefits received by the Company and the LLC on the one hand and the Underwriters on the other from the offering of the Shares.&#160; If, however, the allocation provided by the immediately preceding sentence is not permitted by applicable law or if the indemnified party failed to give the notice required under subsection (c)&nbsp;above, then each indemnifying party shall contribute to such amount paid or payable by such indemnified party in such proportion as is appropriate to reflect not only such relative benefits but also the relative fault of the Company and the LLC on the one hand and the Underwriters on the other in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities (or actions in respect thereof), as well as any other relevant equitable considerations.&#160; The relative benefits received by the Company and the LLC on the one hand and the Underwriters on the other shall be deemed to be in the same proportion as the total net proceeds from the offering (before deducting expenses) received by the Company and the LLC bear to the total underwriting discounts and commissions received by the Underwriters, in each case as set forth in the table on the cover page&nbsp;of the Prospectus.&#160; The relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company and the LLC on the one hand or the Underwriters on the other and the parties&#146; relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission.&#160; The Company, the LLC and the Underwriters agree that it would not be just and equitable if contribution pursuant to this subsection (d)&nbsp;were determined by <i>pro rata</i> allocation (even if the Underwriters were treated as one entity for such purpose) or by any other method of allocation which does not take account of the equitable considerations referred to above in this subsection (d).&#160; The amount paid or payable by an indemnified party as a result of the</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">27<a name="26867-3-KB-05_PB_27_112743_2983"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=27,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=1046861,FOLIO='27',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:44 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">losses, claims, damages or liabilities (or actions in respect thereof) referred to above in this subsection (d)&nbsp;shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim.&#160; Notwithstanding the provisions of this subsection (d), no Underwriter shall be required to contribute any amount in excess of the amount by which the total price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages which such Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission.&#160; No person guilty of fraudulent misrepresentation (within the meaning of Section&nbsp;11(f)&nbsp;of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation.&#160; The Underwriters&#146; obligations in this subsection (d)&nbsp;to contribute are several in proportion to their respective underwriting obligations and not joint.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The obligations of the Company and the LLC under this Section&nbsp;9 shall be in addition to any liability which the Company may otherwise have and shall extend, upon the same terms and conditions, to each person, if any, who controls any Underwriter within the meaning of the Act and each broker-dealer affiliate of any Underwriter; and the obligations of the Underwriters under this Section&nbsp;9 shall be in addition to any liability which the respective Underwriters may otherwise have and shall extend, upon the same terms and conditions, to each officer and director of the Company </font><font size="2" style="font-size:10.0pt;">and</font><font size="2" style="font-size:10.0pt;"> the LLC and to each person, if any, who controls the Company </font><font size="2" style="font-size:10.0pt;">or the LLC </font><font size="2" style="font-size:10.0pt;">within the meaning of the Act.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Without limitation of and in addition to their obligations under the other paragraphs of this Section&nbsp;9, the Company and the LLC will jointly and severally indemnify and hold harmless UBS-FinSvc and its partners, directors, officers, employees and members, and any person who controls UBS-FinSvc within the meaning of Section&nbsp;15 of the Act or Section&nbsp;20 of the Exchange Act, and the successors and assigns of all of the foregoing persons, from and against any loss, damage, expense, liability or claim (including the reasonable cost of investigation) which, jointly or severally, UBS-FinSvc or any such person may incur under the Act, the Exchange Act, the common law or otherwise, insofar as such loss, damage, expense, liability or claim (i)&nbsp;arises out of or is based upon any of the matters referred to in Section&nbsp;9(a)&nbsp;hereof, (ii)&nbsp;arises out of or is based upon any untrue statement or alleged untrue statement of a material fact contained in any material prepared by or with the consent of the Company for distribution to Participants in connection with the Directed Share Program, or caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, (iii)&nbsp;is caused by the failure of any Participant to pay for and accept delivery of Directed Shares that the Participant has agreed to purchase, or (iv)&nbsp;is related to, arising out of, or in connection with the Directed Share Program, provided, however, that neither the Company nor the LLC shall be responsible under this clause (iv)&nbsp;for any losses, claims, damages or liabilities (or expenses relating thereto) that are finally judicially determined to have resulted from gross</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">28<a name="26867-3-KB-05_PB_28_112801_6228"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=28,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=817453,FOLIO='28',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:44 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">negligence or willful misconduct of UBS-FinSvc in conducting the Directed Share Program.&#160; Section&nbsp;9(c)&nbsp;shall apply equally to any action or proceeding brought against UBS-FinSvc or any such person in respect of which indemnity may be sought against the Company or the LLC pursuant to the immediately preceding sentence, except that the Company and the LLC, jointly and severally, shall be liable for the expenses of one separate counsel (in addition to any local counsel) for UBS-FinSvc and any such person, separate and in addition to counsel for the persons who may seek indemnification pursuant to Section&nbsp;9(a)&nbsp;in any such action or proceeding.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">(a)&nbsp;If any Underwriter shall default in its obligation to purchase the Shares which it has agreed to purchase hereunder at a Time of Delivery, you may in your reasonable discretion arrange for you or another party or other parties to purchase such Shares on the terms contained herein.&#160; If within thirty-six hours after such default by any Underwriter you do not arrange for the purchase of such Shares, then the Company shall be entitled to a further period of thirty-six hours within which to procure another party or other parties reasonably satisfactory to you to purchase such Shares on such terms.&#160; In the event that, within the respective prescribed periods, you notify the Company that you have so arranged for the purchase of such Shares, or the Company notifies you that it has so arranged for the purchase of such Shares, you or the Company shall have the right to postpone such Time of Delivery for a period of not more than seven days, in order to effect whatever changes may thereby be made necessary in the Registration Statement or the Prospectus, or in any other documents or arrangements, and the Company agrees to file promptly any amendments or supplements to the Registration Statement or the Prospectus which in your opinion may thereby be made necessary. The term &#147;Underwriter&#148; as used in this Agreement shall include any person substituted under this Section&nbsp;with like effect as if such person had originally been a party to this Agreement with respect to such Shares.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">If, after giving effect to any arrangements for the purchase of the Shares of a defaulting Underwriter or Underwriters by you and the Company as provided in subsection (a)&nbsp;above, the aggregate number of such Shares which remains unpurchased does not exceed one-eleventh of the aggregate number of all the Shares to be purchased at such Time of Delivery, then the Company shall have the right to require each non-defaulting Underwriter to purchase the number of shares which such Underwriter agreed to purchase hereunder at such Time of Delivery and, in addition, to require each non-defaulting Underwriter to purchase its pro rata share (based on the number of Shares which such Underwriter agreed to purchase hereunder) of the Shares of such defaulting Underwriter or Underwriters for which such arrangements have not been made; but nothing herein shall relieve a defaulting Underwriter from liability for its default.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">If, after giving effect to any arrangements for the purchase of the Shares of a defaulting Underwriter or Underwriters by you and the Company as provided in subsection (a)&nbsp;above, the aggregate number of such Shares which</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">29<a name="26867-3-KB-05_PB_29_112813_6479"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=29,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=480001,FOLIO='29',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:44 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">remains unpurchased exceeds one-eleventh of the aggregate number of all the Shares to be purchased at such Time of Delivery, or if the Company shall not exercise the right described in subsection (b)&nbsp;above to require non-defaulting Underwriters to purchase Shares of a defaulting Underwriter or Underwriters, then this Agreement (or, with respect to the Second Time of Delivery, the obligations of the Underwriters to purchase and of the Company to sell the Optional Shares) shall thereupon terminate, without liability on the part of any non-defaulting Underwriter or the Company, except for the expenses to be borne by the Company and the Underwriters as provided in Section&nbsp;7 hereof and the indemnity and contribution agreements in Section&nbsp;9 hereof; but nothing herein shall relieve a defaulting Underwriter from liability for its default.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The respective indemnities, agreements, representations, warranties and other statements of the Company, the LLC and the several Underwriters, as set forth in this Agreement or made by or on behalf of them, respectively, pursuant to this Agreement, shall remain in full force and effect, regardless of any investigation (or any statement as to the results thereof) made by or on behalf of any Underwriter or any controlling person of any Underwriter, or the Company, the LLC or any officer or director or controlling person of the Company or the LLC, and shall survive delivery of and payment for the Shares.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">If this Agreement shall be terminated pursuant to Section&nbsp;10 hereof, the Company shall not then be under any liability to any Underwriter except as provided in Sections 7 and 9 hereof; but, if for any other reason, any Shares are not delivered by or on behalf of the Company as provided herein, the Company will reimburse the Underwriters through you for all reasonable and documented out-of-pocket expenses approved in writing by you, including reasonable and documented out-of-pocket fees and disbursements of counsel, reasonably incurred by the Underwriters in making preparations for the purchase, sale and delivery of the Shares not so delivered, but the Company shall then be under no further liability to any Underwriter in respect of the Shares not so delivered except as provided in Sections 7 and 9 hereof.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">In all dealings hereunder, you shall act on behalf of each of the Underwriters, and the parties hereto shall be entitled to act and rely upon any statement, request, notice or agreement on behalf of any Underwriter made or given by you jointly.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All statements, requests, notices and agreements hereunder shall be in writing, and if to the Underwriters shall be delivered or sent by mail, telex or facsimile transmission to you as the Representatives in care of Goldman, Sachs&nbsp;&amp; Co., 200 West Street, New York, New York&#160; 10282-2198, Attention: Registration Department, J.P. Morgan Securities LLC, 383 Madison Avenue, 4</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font><font size="2" style="font-size:10.0pt;">&#160;Floor, New York, New York 10179, Attention: Equity Syndicate Desk fax: 212-622-8358) and Sandler O&#146;Neill&nbsp;&amp; Partners, L.P.,&#160; 1251 Avenue of the Americas, 6th Floor, New York, NY 10020, Attn: General Counsel; and if to the Company shall be delivered or sent by mail, telex or facsimile transmission to the address</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">30<a name="26867-3-KB-05_PB_30_112824_2639"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=30,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=402441,FOLIO='30',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:44 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">of the Company set forth in the Registration Statement, Attention: Secretary, with a copy for informational purposes only to Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison LLP, 1285 Avenue of the Americas, New York, New York 10019 (fax: 212-492-0025), Attention: John C. Kennedy,&nbsp;Esq.; provided, however, that any notice to an Underwriter pursuant to Section&nbsp;9(c)&nbsp;hereof shall be delivered or sent by mail, telex or facsimile transmission to such Underwriter at its address set forth in its Underwriters&#146; Questionnaire, or telex constituting such Questionnaire, which address will be supplied to the Company by you upon request; provided, however, that notices under subsection 5(f)&nbsp;shall be in writing, and if to the Underwriters shall be delivered or sent by mail, telex or facsimile transmission to you as the Representatives at Goldman, Sachs&nbsp;&amp; Co., 200 West Street, New York, New York 10282-2198, Attention: Control Room, J.P. Morgan Securities LLC, 383 Madison Avenue, 4</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font><font size="2" style="font-size:10.0pt;">&#160;Floor, New York, New York 10179, Attention: Equity Syndicate Desk and Sandler O&#146;Neill&nbsp;&amp; Partners, L.P., Sandler O&#146;Neill&nbsp;&amp; Partners, L.P.,&#160; 1251 Avenue of the Americas, 6th Floor, New York, NY 10020, Attn: General Counsel. Any such statements, requests, notices or agreements shall take effect upon receipt thereof.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In accordance with the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October&nbsp;26, 2001)), the Underwriters are required to obtain, verify and record information that identifies their respective clients, including the Company, which information may include the name and address of their respective clients, as well as other information that will allow the Underwriters to properly identify their respective clients.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">This Agreement shall be binding upon, and inure solely to the benefit of, the Underwriters, the Company, the LLC and, to the extent provided in Sections 9 and 11 hereof, the officers and directors of the Company, the LLC and each person who controls the Company, the LLC or any Underwriter, and their respective heirs, executors, administrators, successors and assigns, and no other person shall acquire or have any right under or by virtue of this Agreement. No purchaser of any of the Shares from any Underwriter shall be deemed a successor or assign by reason merely of such purchase.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Time shall be of the essence of this Agreement.&#160; As used herein, the term &#147;business day&#148; shall mean any day when the Commission&#146;s office in Washington, D.C.&#160; is open for business.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Each of the Company and the LLC acknowledges and agrees that (i)&nbsp;the purchase and sale of the Shares pursuant to this Agreement is an arm&#146;s-length commercial transaction between the Company, on the one hand, and the several Underwriters, on the other, (ii)&nbsp;in connection therewith and with the process leading to such transaction each Underwriter is acting solely as a principal and not the agent or fiduciary of the Company or the LLC, (iii)&nbsp;no Underwriter has assumed an advisory or fiduciary responsibility in favor of the Company or the LLC with respect to the offering contemplated hereby or the process leading thereto (irrespective of whether such Underwriter has advised or</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">31<a name="26867-3-KB-05_PB_31_112834_2794"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=31,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=148347,FOLIO='31',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:44 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">is currently advising the Company on other matters) or any other obligation to the Company or the LLC except the obligations expressly set forth in this Agreement and (iv)&nbsp;the Company and the LLC has consulted its own legal and financial advisors to the extent it deemed appropriate.&#160; Each of the Company and the LLC agrees that it will not claim that the Underwriters, or any of them, has rendered advisory services of any nature or respect, or owes a fiduciary or similar duty to the Company and the LLC, in connection with such transaction or the process leading thereto.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">This Agreement supersedes all prior agreements and understandings (whether written or oral) between the Company and the LLC and the Underwriters, or any of them, with respect to the subject matter hereof.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;">THIS AGREEMENT AND ANY MATTERS RELATED TO THIS TRANSACTION SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE LAWS OF THE STATE OF NEW YORK.&#160; Each of the Company</font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">, the LLC</font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;"> and the Underwriters agrees that any suit or proceeding arising in respect of this agreement or your engagement will be tried exclusively in the U.S. District Court for the Southern District of New York or, if that court does not have subject matter jurisdiction, in any state court located in The City and County of New&nbsp;York and each of the Company, the LLC and the Underwriters agrees to submit to the jurisdiction of, and to venue in, such courts.</font></b></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Each of the Company, the LLC and the Underwriters hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Agreement or the transactions contemplated hereby.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">This Agreement may be executed by any one or more of the parties hereto in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall together constitute one and the same instrument.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Notwithstanding anything herein to the contrary, the Company is authorized to disclose to any persons the U.S. federal and state income tax treatment and tax structure of the potential transaction and all materials of any kind</font><font size="2" style="font-size:10.0pt;"> (including tax opinions and other tax analyses) provided to the Company relating to that treatment and structure, without the Underwriters imposing any limitation of any kind. However, any information relating to the tax treatment and tax structure shall remain confidential (and the foregoing sentence shall not apply) to the extent necessary to enable any person to comply with securities laws. For this purpose, &#147;tax structure&#148; is limited to any facts that may be relevant to that treatment.</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">32<a name="26867-3-KB-05_PB_32_112843_8299"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=32,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=303976,FOLIO='32',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:44 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the foregoing is in accordance with your understanding, please sign and return to us five counterparts hereof, and upon the acceptance hereof by you, on behalf of each of the Underwriters, this letter and such acceptance hereof shall constitute a binding agreement between each of the Underwriters, the Company and the LLC.&#160; It is understood that your acceptance of this letter on behalf of each of the Underwriters is pursuant to the authority set forth in a form of Agreement among Underwriters, the form of which shall be submitted to the Company for examination upon request, but without warranty on your part as to the authority of the signers thereof.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[<i>Signature page&nbsp;follows</i>]</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">33<a name="26867-3-KB-05_PB_33_112852_8247"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=33,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=501671,FOLIO='33',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:44 2015' -->

<div>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Very   truly yours,</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.26%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:47.74%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">VIRTU   FINANCIAL,&nbsp;INC.</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.26%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="47%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:47.74%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.26%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.24%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="43%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:43.5%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.26%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.24%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="43%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:43.5%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.26%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.24%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.5%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.26%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.24%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.5%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.26%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.24%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.5%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.26%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:47.74%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">VIRTU   FINANCIAL, LLC</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.26%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="47%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:47.74%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.26%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.24%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="43%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:43.5%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.26%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.24%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="43%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:43.5%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.26%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.24%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.5%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accepted as of the date hereof</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Goldman, Sachs&nbsp;&amp; Co.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">J.P. Morgan Securities LLC</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sandler O&#146;Neill&nbsp;&amp; Partners, L.P.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">GOLDMAN,   SACHS&nbsp;&amp; CO.</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="43%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:43.16%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>
<td width="43%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:43.16%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>
<td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.16%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.16%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.16%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">J.P.   MORGAN SECURITIES LLC</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="43%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:43.16%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>
<td width="43%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:43.16%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>
<td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.16%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.16%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.16%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SANDLER   O&#146;NEILL&nbsp;&amp; PARTNERS, L.P.</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   Sandler O&#146;Neill&nbsp;&amp; Partners Corp.,</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 40.0pt;punctuation-wrap:simple;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">its sole general partner</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="43%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:43.16%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>
<td width="43%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:43.16%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>
<td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.16%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On behalf of each of the </font></p>
<p style="margin:0in 0in .0001pt .3in;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Underwriters</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">34<a name="26867-3-KB-07_PB_34_111317_7056"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=34,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=1007933,FOLIO='34',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-07_ZDI16703.CHC",USER="BFLANNO",CD='Mar 19 21:35 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SCHEDULE I</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="70%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:70.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Underwriter</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Total<br>   Number of<br>   Firm<br>   Shares<br>   to&nbsp;be<br>   Purchased</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Number&nbsp;of<br>   Optional<br>   Shares&nbsp;to<br>   be<br>   Purchased<br>   if<br>   Maximum<br>   Option<br>   Purchased</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="70%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:70.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;punctuation-wrap:simple;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Goldman,   Sachs&nbsp;&amp; Co. </font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">]</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">]</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="70%" valign="top" style="padding:0in 0in 0in 0in;width:70.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;punctuation-wrap:simple;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">J.P. Morgan Securities LLC</font><font size="2" style="font-size:10.0pt;"> </font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">]</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">]</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="70%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:70.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;punctuation-wrap:simple;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sandler   O&#146;Neill&nbsp;&amp; Partners, L.P. </font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">]</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">]</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="70%" valign="top" style="padding:0in 0in 0in 0in;width:70.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;punctuation-wrap:simple;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">BMO Capital Markets Corp.</font><font size="2" style="font-size:10.0pt;"> </font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">]</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">]</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="70%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:70.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;punctuation-wrap:simple;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Citigroup Global Markets Inc.</font><font size="2" style="font-size:10.0pt;"> </font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">]</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">]</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="70%" valign="top" style="padding:0in 0in 0in 0in;width:70.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;punctuation-wrap:simple;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Credit Suisse Securities (USA) LLC</font><font size="2" style="font-size:10.0pt;"> </font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">]</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">]</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="70%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:70.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;punctuation-wrap:simple;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">UBS Securities LLC</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">]</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">]</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="70%" valign="top" style="padding:0in 0in 0in 0in;width:70.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;punctuation-wrap:simple;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Evercore Group L.L.C.</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">]</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">]</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="70%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:70.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;punctuation-wrap:simple;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Academy   Securities,&nbsp;Inc.</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">]</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">]</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="70%" valign="top" style="padding:0in 0in 0in 0in;width:70.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;punctuation-wrap:simple;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CIBC   World Markets Corp.</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">]</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">]</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="70%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:70.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;punctuation-wrap:simple;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rosenblatt   Securities Inc.</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">]</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">]</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="70%" valign="top" style="padding:0in 0in 0in 0in;width:70.0%;">
<p style="margin:0in 0in .0001pt 20.0pt;punctuation-wrap:simple;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total   </font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">]</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">]</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=35,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=987933,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-07_ZDI16703.CHC",USER="BFLANNO",CD='Mar 19 21:35 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SCHEDULE II</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160; Issuer Free Writing Prospectuses: [None.]</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160; Section&nbsp;5(d)&nbsp;Writings: [None.]</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=36,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=272984,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-07_ZDI16703.CHC",USER="BFLANNO",CD='Mar 19 21:35 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SCHEDULE III</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Third Amended and Restated Limited Liability Company Agreement of Virtu Financial LLC</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Reorganization Agreement by and among Virtu Financial,&nbsp;Inc., Virtu Financial Intermediate Holdings LLC, Virtu Financial Merger Sub LLC, Virtu Financial Merger Sub II LLC, Virtu Financial Intermediate Holdings II LLC, Virtu Financial LLC, VFH Parent LLC, SLP Virtu Investors, LLC, SLP III EW Feeder I, L.P., SLP III EW Feeder II, L.P., Silver Lake Technology Associates III, L.P., SLP III EW Feeder LLC, Havelock Fund Investments Pte Ltd., Wilbur Investments LLC, VV Investment LLC, Virtu East MIP LLC, Virtu Employee Holdco LLC, TJMT Holdings LLC (f/k/a Virtu Holdings LLC), Virtu Financial Holdings LLC and the other persons listed on the signature pages&nbsp;thereto</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Stockholders Agreement by and among Virtu Financial,&nbsp;Inc., Vincent Viola, TJMT Holdings LLC (f/k/a Virtu Holdings LLC), SLP Virtu Investors, LLC, SLP III EW Feeder I, L.P. and Silver Lake Technology Associates III, L.P.</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Merger Agreement by and among Virtu Financial,&nbsp;Inc., Virtu Financial Merger Sub LLC, Virtu Financial Intermediate Holdings LLC, SLP III EW Feeder LLC (f/k/a SLP III EW Feeder Corp.), SLP III EW Feeder I, L.P. and Havelock Fund Investments Pte Ltd.</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Merger Agreement by and among Virtu Financial,&nbsp;Inc., Virtu Financial Merger Sub II LLC, Virtu Financial Intermediate Holdings II LLC, Wilbur Investments LLC and Havelock Fund Investments Pte Ltd.</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Exchange Agreement by and among Virtu Financial LLC, Virtu Financial,&nbsp;Inc. and the holders of Common Units and shares of Class&nbsp;C Common Stock or Class&nbsp;D Common Stock</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Registration Rights Agreement by and among Virtu Financial,&nbsp;Inc., TJMT Holdings LLC (f/k/a Virtu Holdings LLC), SLP Virtu Investors, LLC, SLP III EW Feeder I, L.P., Silver Lake Technology Associates III, L.P., Havelock Fund Investments Pte Ltd., Virtu Employee Holdco LLC and the other persons listed on the signature pages&nbsp;thereto</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Tax Receivable Agreement by and among Virtu Financial,&nbsp;Inc., TJMT Holdings LLC (f/k/a Virtu Holdings LLC), Virtu Employee Holdco LLC and the other persons listed on the signature pages&nbsp;thereto</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Tax Receivable Agreement by and among Virtu Financial,&nbsp;Inc., SLP Virtu Investors, LLC and Silver Lake Technology Associates III, L.P.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=37,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=135836,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-07_ZDI16703.CHC",USER="BFLANNO",CD='Mar 19 21:35 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Tax Receivable Agreement by and between Virtu Financial,&nbsp;Inc. and SLP III EW Feeder I, L.P. and Havelock Fund Investments Pte Ltd.</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Class&nbsp;C Common Stock Subscription Agreement by and among Virtu Financial,&nbsp;Inc., SLP Virtu Investors, LLC, Silver Lake Technology Associates III, L.P., Virtu Employee Holdco LLC and the other persons listed on the signature pages&nbsp;thereto</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Class&nbsp;D Common Stock Subscription Agreement by and between Virtu Financial,&nbsp;Inc. and TJMT Holdings LLC (f/k/a Virtu Holdings LLC)</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Purchase Agreement by and between Virtu Financial,&nbsp;Inc. and SLP III EW Feeder I, L.P.</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Purchase Agreement by and among Virtu Financial,&nbsp;Inc., certain members of Virtu Financial LLC and TJMT Holdings LLC (f/k/a Virtu Holdings LLC)</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Amended and Restated Virtu Financial,&nbsp;Inc. Certificate of Incorporation</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .75in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Amended and Restated Limited Liability Company Agreement of Virtu Employee Holdco LLC</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2<a name="26867-3-KB-07_PB_2_111926_7748"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=38,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=227939,FOLIO='2',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-07_ZDI16703.CHC",USER="BFLANNO",CD='Mar 19 21:35 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SCHEDULE IV</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Significant Subsidiaries</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[To come]</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=39,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=259948,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-07_ZDI16703.CHC",USER="BFLANNO",CD='Mar 19 21:35 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SCHEDULE V</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Lock-Up Parties</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[To come]</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=40,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=494671,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-07_ZDI16703.CHC",USER="BFLANNO",CD='Mar 19 21:35 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="right" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ANNEX I</font></b></p>
<p align="right" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">FORM&nbsp;OF LOCK-UP AGREEMENT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Virtu Financial,&nbsp;Inc.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Lock-Up Agreement</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">[</font></b><b><font size="2" face="Symbol" style="font-size:10.0pt;font-weight:bold;">&#183;</font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">], 20[</font></b><b><font size="2" face="Symbol" style="font-size:10.0pt;font-weight:bold;">&#183;</font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">]</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Goldman, Sachs&nbsp;&amp; Co.</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">J.P. Morgan Securities LLC</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sandler O&#146;Neill&nbsp;&amp; Partners, L.P.</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">c/o Goldman, Sachs&nbsp;&amp; Co.</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">200 West Street</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New York, NY&#160; 10282-2198</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">J.P. Morgan Securities LLC</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">383 Madison Avenue</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New York, New York 10179</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sandler O&#146;Neill&nbsp;&amp; Partners, L.P.</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1251 Avenue of the Americas, 6</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font><font size="2" style="font-size:10.0pt;">&#160;Floor</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New York, New York 10020</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Re:&#160; <u>Virtu Financial,&nbsp;Inc. - Lock-Up Agreement</u></font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ladies and Gentlemen:</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The undersigned understands that Goldman, Sachs&nbsp;&amp; Co., J.P. Morgan Securities LLC and Sandler O&#146;Neill&nbsp;&amp; Partners, L.P., as representatives (the &#147;Representatives&#148;), propose to enter into an Underwriting Agreement (the &#147;Underwriting Agreement&#148;) on behalf of the several Underwriters named in Schedule I to such agreement (collectively, the &#147;Underwriters&#148;), with Virtu Financial,&nbsp;Inc., a Delaware corporation (the &#147;Company&#148;), providing for a public offering of shares of Class&nbsp;A common stock, par value $0.00001 per share (the &#147;Class&nbsp;A Common Stock&#148;) of the Company (the &#147;Shares&#148;) pursuant to a Registration Statement on Form&nbsp;S-1 (the &#147;Registration Statement&#148;) to be filed with the Securities and Exchange Commission (the &#147;SEC&#148;).&#160; The undersigned further understands that, prior to the consummation of the public offering of the Shares, the Company will be authorized to issue, in addition to the Class&nbsp;A Common Stock, shares of Class&nbsp;B common stock, par value $0.00001 per share (the &#147;Class&nbsp;B Common Stock&#148;), shares of Class&nbsp;C stock, par value $0.00001 per share (the &#147;Class&nbsp;C Common Stock&#148;), and shares of Class&nbsp;D common stock, par value $0.00001 per share (the &#147;Class&nbsp;D Common Stock&#148; and, collectively with the Class&nbsp;A Common Stock, the Class&nbsp;B Common Stock and the Class&nbsp;C Common Stock, the &#147;Common Stock&#148;).</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=41,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=823366,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-07_ZDI16703.CHC",USER="BFLANNO",CD='Mar 19 21:35 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In consideration of the agreement by the Underwriters to offer and sell the Shares, and for other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the undersigned agrees that, during the period specified in the following paragraph (the &#147;Lock-Up Period&#148;), the undersigned will not, without the prior written consent of the Representatives, offer, sell, contract to sell, pledge, grant any option to purchase, make any short sale or otherwise dispose of any shares of Common Stock or any membership interests of Virtu Financial LLC (the &#147;LLC&#148;), or any options or warrants to purchase any shares of Common Stock, or any securities convertible into, exchangeable for or that represent the right to receive shares of Common Stock or any membership interests of the LLC, whether now owned or hereinafter acquired, owned directly (including holding as a custodian) or beneficially owned within the rules&nbsp;and regulations of the SEC (collectively, the &#147;Securities&#148; and any such Securities owned by the undersigned, the &#147;Undersigned&#146;s Securities&#148;). The foregoing restriction is expressly agreed to preclude the undersigned from engaging in any hedging or other transaction which is designed to or which reasonably could be expected to lead to or result in a sale or disposition of the Undersigned&#146;s Securities even if such Securities would be disposed of by someone other than the undersigned. Such prohibited hedging or other transactions would include, without limitation, any short sale or any purchase, sale or grant of any right (including, without limitation, any put or call option) with respect to any of the Undersigned&#146;s Securities or with respect to any security that includes, relates to, or derives any significant part of its value from the Shares.&#160; If the undersigned is an officer or director of the issuer, the undersigned further agrees that the foregoing provisions shall be equally applicable to any issuer-directed Shares the undersigned may purchase in the offering.</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Lock-Up Period will commence on the date of this Lock-Up Agreement and continue for 180 days after the public offering date set forth on the final prospectus used to sell the Shares (the &#147;Public Offering Date&#148;) pursuant to the Underwriting Agreement.</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the undersigned is an officer or director of the Company, (i)&nbsp;the undersigned further agrees that the foregoing restrictions shall be equally applicable to any issuer-directed Shares the undersigned may purchase in the offering, (ii)&nbsp;the Representatives agree that, at least three business days before the effective date of any release or waiver of the foregoing restrictions in connection with a transfer of shares of Common Stock, the Representatives will notify the Company of the impending release or waiver and (iii)&nbsp;the Company has agreed in the Underwriting Agreement to announce the impending release or waiver by press release through a major news service as referred to in FINRA Rule&nbsp;5131(d)(2)(B)&nbsp;at least two business days before the effective date of the release or waiver.&#160; Any release or waiver granted by the Representatives hereunder to any such officer or director shall only be effective two business days after the publication date of such press release.&#160; The provisions of this paragraph will not apply if (a)&nbsp;the release or waiver is effected solely to permit a transfer not for consideration and (b)&nbsp;the transferee has agreed in writing to be bound by the same terms described in this letter to the extent and for the duration that such terms remain in effect at the time of the transfer.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=42,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=532767,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-07_ZDI16703.CHC",USER="BFLANNO",CD='Mar 19 21:35 2015' -->

<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notwithstanding the foregoing, the undersigned may transfer the Undersigned&#146;s </font><font size="2" style="font-size:10.0pt;">Securities</font><font size="2" style="font-size:10.0pt;"> (i) as a <i>bona fide</i> gift, gifts, or charitable contributions, <u>provided</u> that the donee or donees thereof agree to be bound in writing by the restrictions set forth herein, (ii) to any beneficiary or immediate family member of the undersigned or any trust, limited liability company, partnership or corporation for the direct or indirect benefit of the undersigned or the immediate family of the undersigned, <u>provided</u> that such beneficiary, trust, limited liability company, partnership, corporation or immediate family member, as applicable, agrees to be bound in writing by the restrictions set forth herein, and <u>provided</u>, <u>further</u> that any such transfer shall not involve a disposition for value, (iii) to any beneficiary of or estate of a beneficiary of the undersigned pursuant to a trust, will or other testamentary document or applicable laws of descent, <u>provided</u> that the beneficiary or the estate of a beneficiary thereof agrees to be bound in writing by the restrictions set forth herein, and <u>provided</u>, <u>further</u> that any such transaction shall not involve a disposition for value and that no public report or filing (including those under Section 16(e) of the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;) other than a Form 5 required to be filed in 2015) reporting a reduction in beneficial ownership of securities shall be required or voluntarily made during the Lock-Up Period, (iv) to any third-party pledgee in a bona fide transaction as collateral to secure obligations pursuant to lending or other arrangements between such third parties (or their affiliates or designees) and the undersigned and/or its affiliates or any similar arrangement relating to a financing arrangement for the benefit of the undersigned and/or its affiliates, <u>provided</u> that any such pledgee or other party shall, upon foreclosure on the pledged Securities, execute and deliver to the Representatives an agreement in the form of this Lock-Up Agreement, or (v) with the prior written consent of the Representatives on behalf of the Underwriters.&#160; In addition, notwithstanding the foregoing, the undersigned may exercise any warrants, convert convertible securities, exercise options granted pursuant to the Company&#146;s or its affiliates stock option/incentive plans or otherwise outstanding on the date hereof or the date of the Underwriting Agreement, <u>provided</u> that the restrictions of this Lock-Up Agreement shall apply to any Securities issued upon such exercise or conversion.&#160; For purposes of this Lock-Up Agreement, &#147;immediate family&#148; shall mean any relationship by blood, domestic partnership, marriage or adoption, not more remote than first cousin.</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In addition, notwithstanding the foregoing, (i) if the undersigned is a corporation, partnership, limited liability company or other entity, (A) the entity may transfer the Undersigned&#146;s Securities to another corporation, partnership, limited liability company or other entity that is an affiliate (as defined under Rule 12b-2 of the Exchange Act) of the undersigned or (B) the entity may make any distribution or dividend to equity holders (including, without limitation, general or limited partners, members, stockholders or affiliates) of the undersigned (including upon the liquidation and dissolution of the undersigned pursuant to a plan of liquidation approved by the undersigned&#146;s equity holders), (ii) if the undersigned is a trust, the undersigned may transfer the Undersigned&#146;s Securities to a grantor or beneficiary of the trust and (iii) if the undersigned is an individual, the undersigned may transfer to any corporation, partnership, limited liability company or other entity that is wholly-owned by the undersigned and/or by members of the undersigned&#146;s immediate family; <u>provided</u>, <u>however</u>, that in any such case, it shall be a condition to the transfer that the transferee or distributee execute an agreement stating that the transferee or distributee is receiving and holding such Securities subject to the </font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=43,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=145849,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-09_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:31 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">provisions of this Lock-Up Agreement, and there shall be no further transfer of such Securities except in accordance with this Lock-Up Agreement, and <u>provided</u>, <u>further</u> that any such transfer shall not involve a disposition for value and that no filings under Section 16(a) of the Exchange Act reporting a reduction in beneficial ownership of Stock shall be required or shall be voluntarily made in respect of the transfer or distribution (other than a Form 5 required to be filed in 2015).</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notwithstanding the foregoing, it is understood and agreed that this Lock-Up Agreement shall not apply to (a) the sale of any Class A Common Stock to the Underwriters pursuant to the Underwriting Agreement or to the Company or any of its subsidiaries in connection with the purchase of membership interests of the LLC from the undersigned by the Company or any of its subsidiaries with the net proceeds of the public offering pursuant to the Registration Statement, (b)&nbsp;any transfer or sale in connection with, and as contemplated by, the reorganization transactions (the &#147;Reorganization Transactions&#148;) described in the preliminary prospectus included in the Registration Statement at the time of its effectiveness, including, without limitation, any purchase by the Company of Class&nbsp;A Common Stock or membership interests of the LLC and a corresponding number of shares of the Class&nbsp;C Common Stock or the Class&nbsp;D Common Stock, as the case may be, (c)&nbsp;any exchange of membership interests of the LLC and a corresponding number of shares of the Class&nbsp;C Common Stock or the Class&nbsp;D Common Stock, as the case may be, for shares of the Class&nbsp;A Common Stock or the Class&nbsp;B Common Stock, as applicable, in accordance with the Exchange Agreement to be entered into by and among the Company, the LLC and the holders of membership interests in the LLC in connection with the Reorganization Transactions, (d)&nbsp;the redemption by the Company, the LLC or their affiliates of (i) Securities held by or on behalf of an employee in connection with the termination of such employee&#146;s employment or (ii) involuntarily transferred Securities, in each case, in accordance with the limited liability company agreement of the LLC, Virtu Employee Holdco LLC or Virtu East MIP LLC, (e)&nbsp;the repurchase of Securities by the Company, not at the option of the undersigned, pursuant to an employee benefit plan described in the preliminary prospectus included in the Registration Statement at the time of its effectiveness or pursuant to the agreements pursuant to which such Securities were issued, (f)&nbsp;any shares of Class A Common Stock acquired by the undersigned (x) in the open market after the completion of the public offering or (y) from the Underwriters in the public offering, or (g) any transfer or sale of Securities by operation of law, such as pursuant to a qualified domestic order or in connection with a divorce settlement.</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In addition, notwithstanding the foregoing, (i) the undersigned may establish a Rule 10b5-1 trading plan during the Lock-Up Period, <u>provided</u> that no transactions thereunder are made until after expiration of the Lock-Up Period, and (ii) the restrictions in this Lock-Up Agreement do not apply to the withholding by, or transfer, sale or other disposition of Common Stock to, the Company or the LLC in connection with the &#147;net&#148; or &#147;cashless&#148; exercise of, or to satisfy the withholding tax obligations (including estimated taxes) of the undersigned in connection with the &#147;net&#148; or &#147;cashless&#148; exercise or vesting of, membership units, restricted stock, restricted stock units, incentive stock options or other stock-based awards.&#160; The undersigned also agrees and consents to the entry of stop transfer instructions with the Company&#146;s transfer agent and registrar against the transfer of the Undersigned&#146;s Securities except in compliance with the foregoing restrictions.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=44,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=825861,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-09_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:31 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notwithstanding the foregoing, the undersigned shall be permitted to make transfers, sales, tenders or other dispositions of Undersigned&#146;s Securities to a bona-fide third party pursuant to a tender or exchange offer for securities of the Company or the LLC or other transaction, including, without limitation, a merger, consolidation or other business combination, involving a Change in Control (as defined in the Company&#146;s credit agreement) that, in each case, has been approved by the Board of Directors of the Company (including, without limitation, entering into any lock-up, voting or similar agreement pursuant to which the undersigned may agree to transfer, sell, tender or otherwise dispose of the Undersigned&#146;s Securities in connection with any such transaction, or vote any of the Undersigned&#146;s Securities in favor of any such transaction), provided that all of the Undersigned&#146;s Securities subject to this Lock-Up Agreement that are not so transferred, sold, tendered or otherwise disposed of remain subject to this Lock-Up Agreement; and provided, further, that it shall be a condition of transfer, sale, tender or other disposition that if such tender offer or other transaction is not completed, any of the Undersigned&#146;s Securities subject to this Lock-Up Agreement shall remain subject to the restrictions herein.</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notwithstanding the foregoing, if (i) the closing of the public offering has not occurred prior to [&#149;], 2015, (ii) the Company earlier notifies the Representatives in writing that it does not intend to proceed with the public offering, (iii) the Underwriting Agreement (other than any provisions thereof which survive termination) shall terminate or be terminated prior to payment for and delivery of the Shares to be sold thereunder, (iv) a request for withdrawal of the registration statement relating to the public offering is filed with the SEC or the Company otherwise makes a public announcement of the termination of the public offering or (v) the Representatives advise the Company in writing prior to the execution of the Underwriting Agreement, that they have determined not to proceed with the public offering, this Lock-Up Agreement shall be of no further force or effect and the undersigned shall be released from all obligations hereunder.</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notwithstanding anything herein to the contrary, affiliates of the undersigned that have not separately signed a lock-up agreement may engage in brokerage, investment advisory, financial advisory, anti-raid advisory, merger advisory, financing, asset management, trading, market making, arbitrage, principal investing and other similar activities conducted in the ordinary course of their affiliates&#146; business, other than with respect to Securities currently owned by the undersigned.&#160; For the avoidance of doubt, it is acknowledged and agreed that (i) any entity in which any of the undersigned&#146;s affiliated investment funds may now or in the future have an investment and (ii) any entity (other than the undersigned) on whose board of directors one or more of the undersigned&#146;s officers may now or in the future serve, shall not be deemed subject to, or bound by, this Lock-Up Agreement, in part or in its entirety.</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The undersigned understands that the Company and the Underwriters are relying upon this Lock-Up Agreement in proceeding toward consummation of the public offering.&#160; The </font><font size="2" style="font-size:10.0pt;">undersigned</font><font size="2" style="font-size:10.0pt;"> further understands that this Lock-Up Agreement is irrevocable and shall be binding upon the undersigned&#146;s heirs, legal representatives, successors, and assigns.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=45,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=901413,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-09_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:31 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt .5in;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Very   truly yours,</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:47.78%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:47.78%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exact   Name of Shareholder</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.78%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.78%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:47.78%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:47.78%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Authorized   Signature</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.78%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.78%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:47.78%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.22%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="47%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:47.78%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=46,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=981767,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-09_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:31 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="right" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="right" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ANNEX II</font></b></p>
<p align="right" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Form of Press Release</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Virtu Financial, Inc.<br> [Date]</font></b></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(&#147;Virtu Financial, Inc.&#148;) announced today that the Representatives in the Company&#146;s recent public sale of&#160;&#160;&#160;&#160;&#160;&#160; shares of [Class A] common stock, par value $[0.00001] per share, is [waiving] [releasing] a lock-up restriction with respect to&#160;&#160;&#160;&#160; shares of the Company&#146;s common stock held by [certain officers or directors] [an officer or director] of the Company.&#160;&#160; The [waiver] [release] will take effect on&#160;&#160;&#160;&#160;&#160; ,&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 20&#160;&#160;&#160; , and the shares may be sold on or after such date.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">This press release is not an offer for sale of the securities in the United States or in any other jurisdiction where such offer is prohibited, and such securities may not be offered or sold in the United States absent registration or an exemption from registration under the United States Securities Act of 1933, as amended.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=47,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=696737,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-09_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:31 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="right" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="right" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ANNEX III(a)</font></b></p>
<p align="right" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Form of Paul, Weiss, Rifkind, Wharton &amp; Garrison LLP Opinion</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[To come]</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=48,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=667476,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-09_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:31 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="right" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="right" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ANNEX III(b)</font></b></p>
<p align="right" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Form of Paul, Weiss, Rifkind, Wharton &amp; Garrison LLP</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Negative Assurance Letter</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[To come]</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=49,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=3166,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-09_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:31 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="right" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="right" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ANNEX IV</font></b></p>
<p align="right" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Form of Bracewell &amp; Giuliani LLP Opinion</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[To come]</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=50,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="2",CHK=273256,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-KB-09_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 11:31 2015' -->

<BR>
<!-- TOCEXISTFLAG -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-2.1
<SEQUENCE>3
<FILENAME>a2223212zex-2_1.htm
<DESCRIPTION>EX-2.1
<TEXT>
<HTML>
<HEAD>
</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>
<div>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 2.1</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">REORGANIZATION AGREEMENT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Dated as of [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], 2015</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=1,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=200877,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:55 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">TABLE OF CONTENTS</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="80%" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="6%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:6.66%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Pages</font></b></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="93%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:93.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;I DEFINITIONS</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.1</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Certain Defined Terms</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.2</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Terms Defined Elsewhere in this Agreement</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.3</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Other Definitional and Interpretative Provisions</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="93%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:93.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;II THE   REORGANIZATION</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Transactions</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.2</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent to Reorganization Transactions</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.3</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">No Liabilities in Event of Termination; Certain Covenants</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="93%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:93.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;III REPRESENTATIONS   AND WARRANTIES</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.1</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Representations and Warranties</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="93%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:93.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;IV MISCELLANEOUS</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.1</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendments and Waivers</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.2</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Successors and Assigns</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.3</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notices</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.4</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Further Assurances</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.5</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Entire Agreement</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.6</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Governing Law</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.7</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Jurisdiction</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.8</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WAIVER OF JURY TRIAL</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.9</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Severability</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.10</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Enforcement</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.11</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Counterparts; Facsimile Signatures</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 40.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.12</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Expenses</font></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">i<a name="26867-3-IE-01_PB_i_145859_7056"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=2,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=708879,FOLIO='i',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:55 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">REORGANIZATION AGREEMENT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">REORGANIZATION AGREEMENT (this &#147;<u>Agreement</u>&#148;), dated as of [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], 2015, by and among Virtu Financial,&nbsp;Inc., a Delaware corporation (&#147;<u>Pubco</u>&#148;), Virtu Financial Merger Sub LLC, a Delaware limited liability company (&#147;<u>Merger Sub</u>&#148;), Virtu Financial Intermediate Holdings LLC, a Delaware limited liability company (&#147;<u>Intermediate Holdings</u>&#148;), Virtu Financial Merger Sub II LLC, a Delaware limited liability company (&#147;<u>Merger Sub II</u>&#148;), Virtu Financial Intermediate Holdings II LLC, a Delaware limited liability company (&#147;<u>Intermediate Holdings II</u>&#148;), Virtu Financial LLC, a Delaware limited liability company (the &#147;<u>Company</u>&#148;), VFH Parent LLC, a Delaware limited liability company (&#147;<u>VFH Parent</u>&#148;), SLP Virtu Investors, LLC, a Delaware limited liability company (&#147;<u>SLP Investors</u>&#148;), SLP III EW Feeder I, L.P., a Delaware limited partnership (&#147;<u>SLP Stockholder</u>&#148;), SLP III EW Feeder II, L.P., a Delaware limited partnership (&#147;<u>SLP Temasek Feeder</u>&#148;), Silver Lake Technology Associates III, L.P., a Delaware limited partnership (&#147;<u>SLP Tech Associates</u>&#148;), SLP III EW Feeder LLC, a Delaware limited liability company (&#147;<u>SLP Temasek LLC</u>&#148;), Havelock Fund Investments Pte Ltd., a Singapore private limited company (&#147;<u>Temasek Stockholder</u>&#148;), Wilbur Investments LLC, a Delaware limited liability company (&#147;<u>Temasek Pre-IPO Member</u>&#148;), VV Investment LLC, a Delaware limited liability company (&#147;<u>VV Investment</u>&#148;), Virtu East MIP LLC, a Delaware limited liability company (&#147;<u>East MIP</u>&#148;), Virtu Employee Holdco LLC, a Delaware limited liability company (&#147;<u>Employee Holdco</u>&#148;), TJMT Holdings LLC (f/k/a Virtu Holdings LLC), a Delaware limited liability company (&#147;<u>TJMT Holdings</u>&#148;), Virtu Financial Holdings LLC, a Delaware limited liability company (&#147;<u>Financial Holdings</u>&#148;) and the individuals designated as the &#147;Other Class&nbsp;A Members&#148; on the signature pages&nbsp;hereto.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">RECITALS</font></u></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the Board of Directors of Pubco (the &#147;<u>Board</u>&#148;) has determined to effect an underwritten initial public offering (the &#147;<u>IPO</u>&#148;) of Pubco&#146;s Class&nbsp;A Common Stock (as defined below);</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the parties hereto desire to effect the Reorganization Transactions (as defined below) in contemplation of the IPO; and</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, in connection with the consummation of the Reorganization Transactions and the IPO, the applicable parties hereto intend to enter into the Reorganization Documents (as defined below).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NOW, THEREFORE, in consideration of the foregoing recitals and of the mutual promises hereinafter set forth, the parties hereto hereby agree as follows:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=3,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=162432,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:55 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;I</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">DEFINITIONS</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Certain Defined Terms</font></u><font size="2" style="font-size:10.0pt;">.&#160; As used herein, the following terms shall have the following meanings:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Business Day</u>&#148; means a day, other than Saturday, Sunday or other day on which commercial banks in New&nbsp;York, New&nbsp;York are authorized or required by applicable law to close.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Class&nbsp;A Common Stock</u>&#148; shall mean Class&nbsp;A Common Stock, par value $0.00001 per share, of Pubco, having the rights set forth in the Amended and Restated Certificate of Incorporation.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Class&nbsp;B Common Stock</u>&#148; shall mean Class&nbsp;B Common Stock, par value $0.00001 per share, of Pubco, having the rights set forth in the Amended and Restated Certificate of Incorporation.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Class&nbsp;C Common Stock</u>&#148; shall mean Class&nbsp;C Common Stock, par value $0.00001 per share, of Pubco, having the rights set forth in the Amended and Restated Certificate of Incorporation.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Class&nbsp;D Common Stock</u>&#148; shall mean Class&nbsp;D Common Stock, par value $0.00001 per share, of Pubco, having the rights set forth in the Amended and Restated Certificate of Incorporation.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Common Stock</u>&#148; means, collectively, the Class&nbsp;A Common Stock, Class&nbsp;B Common Stock, Class&nbsp;C Common Stock and Class&nbsp;D Common Stock.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Company Common Units</u>&#148; means Common Units, as such term is defined in the Company LLC Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Discounted Price</u>&#148; means (i)&nbsp;the IPO Price Per Share <u>less</u> (ii)&nbsp;the underwriting discount per share paid to the underwriters in the IPO.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Employee Holdco Common Units</u>&#148; means Common Units, as such term is defined in the Employee Holdco LLC Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Employee Holdco Members</u>&#148; means the Members, as such term is defined in the Employee Holdco LLC Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Exchange Act</u>&#148; means the Securities Exchange Act of 1934, as amended.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Existing Company LLC Agreement</u>&#148; means the Second Amended and Restated Limited Liability Company Agreement of the Company, dated as of December&nbsp;31, 2014, by and among the Company and the other Persons listed on the signature pages&nbsp;thereto.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2<a name="26867-3-IE-01_PB_2_145921_5335"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=4,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=59621,FOLIO='2',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:55 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Existing Employee Holdco LLC Agreement</u>&#148; the Limited Liability Company Agreement of Employee Holdco, dated as of July&nbsp;8, 2011, by and among the Employee Holdco Members, Vincent Viola, as the Manager, SLP Investors and the Company, as amended by Amendment No.&nbsp;1, dated as of December&nbsp;28, 2011, and Amendment No.&nbsp;2, dated as of December&nbsp;20, 2012.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Form&nbsp;8-A Effective Time</u>&#148; means the date and time on which the Registration Statement becomes effective, which will occur after the Pricing, on such date and at such time as determined by Pubco.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>IPO Closing</u>&#148; means the initial closing of the sale of the Class&nbsp;A Common Stock in the IPO.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>IPO Offering Expenses</u>&#148; means the amount of any IPO offering expenses borne by Pubco (as agreed in writing by Pubco and the Company, for which email shall be sufficient), but excluding the underwriting discount per share in the IPO (i)&nbsp;with respect to the Primary Amount, which shall be the responsibility of the Company pursuant to Section&nbsp;2.1(c)(i)&nbsp;or 2.1(d), as applicable, and (ii)&nbsp;with respect to any Secondary Securities, which shall be the responsibility of (x)&nbsp;the SLP Stockholder in accordance with the SLP Stockholder Purchase Agreement and (y)&nbsp;the Post-Reorg Company Members party to the Member Purchase Agreement in accordance therewith.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>IPO Price Per Share</u>&#148; means the per share public offering price for the Class&nbsp;A Common Stock.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>MIP</u>&#148; means the Virtu Financial LLC Management Incentive Plan, as the same may be amended from time to time.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Person</u>&#148; means any individual, firm, corporation, partnership, limited liability company, trust, estate, joint venture, governmental authority or other entity.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Pricing</u>&#148; means such date and time as the Board or the pricing committee thereof determines to price the IPO.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Primary Amount</u>&#148; means an amount equal to the product of (i)&nbsp;the IPO Price Per Share <u>multiplied by</u> (ii)&nbsp;(x)&nbsp;the number of shares of Class&nbsp;A Common Stock sold at the IPO Closing <u>less</u> (y)&nbsp;the number of Secondary Securities purchased immediately following the IPO Closing.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Registration Statement</u>&#148; means the registration statement on Form&nbsp;8-A filed by Pubco under the Exchange Act with the SEC to register the Class&nbsp;A Common Stock.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Reorganization Documents</u>&#148; means each of the documents attached as an exhibit hereto and all other agreements and documents entered into in connection with the Reorganization Transactions.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3<a name="26867-3-IE-01_PB_3_145930_5796"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=5,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=445630,FOLIO='3',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:55 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>SEC</u>&#148; means the Securities and Exchange Commission.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Secondary Securities</u>&#148; means (i)&nbsp;the shares of Class&nbsp;A Common Stock purchased by Pubco pursuant to the SLP Stockholder Purchase Agreement and (ii)&nbsp;the Company Common Units purchased by Pubco pursuant to the Member Purchase Agreement (including shares of Class&nbsp;A Common Stock or Company Common Units, respectively, purchased using proceeds received upon the exercise of the underwriters&#146; option to purchase additional shares of Class&nbsp;A Common Stock).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Securities Act</u>&#148; means the Securities Act of 1933, as amended.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>SLP Parties</u>&#148; means SLP Investors, SLP Stockholder, SLP Tech Associates.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Temasek Parties</u>&#148; means Temasek Stockholder and Temasek Pre-IPO Member.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Unvested Company Common Units</u>&#148; means Unvested Common Units, as such term is defined in the Company LLC Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Unvested Employee Holdco Common Units</u>&#148; means Unvested Common Units, as such term is defined in the Employee Holdco LLC Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Viola Parties</u>&#148; means TJMT Holdings, Financial Holdings and VV Investment.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.2</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Terms Defined Elsewhere in this Agreement</font></u><font size="2" style="font-size:10.0pt;">.&#160; Each of the following terms is defined in the Section&nbsp;set forth opposite such term:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="83%" style="border-collapse:collapse;width:83.34%;">
<tr>
<td width="77%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Term</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="19%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:19.2%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Section</font></b></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Agreement</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amended   and Restated Certificate of Incorporation</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1(a)(i)</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Board</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Class&nbsp;C   Shares</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1(b)(vii)</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Class&nbsp;C   Subscriber</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1(b)(vii)</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Class&nbsp;C   Subscription Agreements</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1(b)(vii)</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Class&nbsp;D   Shares</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1(b)(viii)</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Class&nbsp;D   Subscription Agreement</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1(b)(viii)</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Company</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Company   Employee Equity Letters</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1(b)(x)</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Company   LLC Agreement</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1(b)(vi)</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Company   Member Schedule</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1(b)(vi)</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">East   MIP</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">East   MIP Liquidation Agreement</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1(b)(ii)</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">e-mail</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.3</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Employee   Holdco</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4<a name="26867-3-IE-01_PB_4_150055_2897"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=6,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=966076,FOLIO='4',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:55 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="83%" style="border-collapse:collapse;width:83.34%;">
<tr>
<td width="77%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Term</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="19%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:19.2%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Section</font></b></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Employee   Holdco Class&nbsp;A-2 Capital Interests</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1(b)(ii)</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Employee   Holdco Employee Equity Letters</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1(b)(xix)</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Employee   Holdco LLC Agreement</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1(b)(xviii)</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exchange   Agreement</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1(b)(ix)</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Financial   Holdings</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Hypothetical   Liquidation Value</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1(b)(vi)</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Intermediate   Holdings</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Intermediate   Holdings II</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IPO</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Member   Purchase Agreement</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1(c)(iii)</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Merger   Sub</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Merger   Sub II</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mergers</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1(b)(v)</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Post-Reorg   Company Members</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1(b)(vi)</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pubco</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Reorganization   Transaction</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Reorganization   Transactions</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SLP   and Temasek Stockholders Tax Receivable Agreement</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1(b)(xiv)</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SLP   Investors</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SLP   Merger Agreement</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1(b)(v)</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SLP   Stockholder</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SLP   Stockholder Purchase Agreement</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1(c)(ii)</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SLP   Tech Associates</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SLP   Temasek Feeder</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SLP   Temasek LLC</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stockholders   Agreement</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1(b)(xiii)</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Temasek   Pre-IPO Member</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Temasek   Merger Agreement</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1(b)(v)</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Temasek   Stockholder</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">TJMT   Holdings</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">VFH   Parent</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.8%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">VV   Investment</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.2%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>  </table>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.3</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Other Definitional and Interpretative Provisions</font></u><font size="2" style="font-size:10.0pt;">.&#160; The words &#147;hereof&#148;, &#147;herein&#148; and &#147;hereunder&#148; and words of like import used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement.&#160; The captions herein are included for convenience of reference only and shall be ignored in the construction or interpretation hereof.&#160; References to Articles, Sections, Exhibits&nbsp;and Schedules are to Articles, Sections, Exhibits and Schedules of this Agreement unless otherwise specified.&#160; All Exhibits and Schedules annexed hereto or referred to herein are hereby incorporated in and made a part of this Agreement as if set</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5<a name="26867-3-IE-01_PB_5_150125_3020"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=7,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=450978,FOLIO='5',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:55 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">forth in full herein.&#160; Any capitalized terms used in any Exhibit&nbsp;or Schedule but not otherwise defined therein, shall have the meaning as defined in this Agreement.&#160; Any singular term in this Agreement shall be deemed to include the plural, and any plural term the singular.&#160; Whenever the words &#147;include&#148;, &#147;includes&#148; or &#147;including&#148; are used in this Agreement, they shall be deemed to be followed by the words &#147;without limitation&#148;, whether or not they are in fact followed by those words or words of like import.&#160; &#147;Writing&#148;, &#147;written&#148; and comparable terms refer to printing, typing and other means of reproducing words (including electronic media) in a visible form.&#160; References to any statute shall be deemed to refer to such statute as amended from time to time and to any rules&nbsp;or regulations promulgated thereunder.&#160; References to any agreement or contract are to that agreement or contract as amended, modified or supplemented from time to time in accordance with the terms hereof and thereof.&#160; References to any Person include the successors and permitted assigns of that Person.&#160; References from or through any date mean, unless otherwise specified, from and including or through and including, respectively.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;II</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">THE REORGANIZATION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Transactions</font></u><font size="2" style="font-size:10.0pt;">.&#160; Subject to the terms and conditions hereinafter set forth, and on the basis of and in reliance upon the representations, warranties, covenants and agreements set forth herein, the parties hereto shall take the actions described in this Section&nbsp;2.1 (each, a &#147;<u>Reorganization Transaction</u>&#148; and, collectively, the &#147;<u>Reorganization Transactions</u>&#148;):</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">On or prior to the Pricing, the applicable parties shall take the actions set forth below (or cause such actions to take place):</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Pubco shall adopt and file with the Secretary of State of the State of Delaware an amended and restated certificate of incorporation of Pubco, in the form attached hereto as <u>Exhibit&nbsp;A</u> (the &#147;<u>Amended and Restated Certificate of Incorporation</u>&#148;).</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Board shall adopt amended and restated by-laws of Pubco in the form attached hereto as <u>Exhibit&nbsp;B</u>.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Immediately following Pricing and prior to the Form&nbsp;8-A Effective Time, the applicable parties shall take the actions set forth below (or cause such actions to take place):</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">SLP Temasek Feeder shall distribute its Class&nbsp;A-1 Capital Interests in the Company to SLP Temasek LLC and SLP Tech Associates.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Pursuant to a Liquidation Agreement in the form attached hereto as <u>Exhibit&nbsp;C</u> (the &#147;<u>East MIP Liquidation Agreement</u>&#148;),</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6<a name="26867-3-IE-01_PB_6_150151_7748"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=8,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=48353,FOLIO='6',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:55 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">among other things, (v)&nbsp;East MIP&#146;s Class&nbsp;A members shall transfer to East MIP certain Class&nbsp;A-2 Capital Interests of the Company held directly by such members, (w)&nbsp;East MIP shall contribute to Employee Holdco certain Class&nbsp;A-2 Capital Interests of the Company in exchange for a number of Class&nbsp;A-2 Capital Interests of Employee Holdco (&#147;<u>Employee Holdco Class&nbsp;A-2 Capital Interests</u>&#148;) equal to the number of Class&nbsp;A-2 Capital Interests of the Company so contributed, (x)&nbsp;East MIP shall distribute to the Class&nbsp;B members of East MIP the Employee Holdco Class&nbsp;A-2 Capital Interests issued to East MIP pursuant to clause (w), which shall remain subject to the vesting terms applicable to the Class&nbsp;B interests of East MIP, (y)&nbsp;East MIP shall distribute to each Class&nbsp;A member of East MIP its <i>pro rata</i> share of any remaining Class&nbsp;A-2 Capital Interests of the Company held by East MIP and (z)&nbsp;East MIP shall be dissolved as provided for in the East MIP Liquidation Agreement.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Financial Holdings shall dissolve and distribute its Class&nbsp;A-2 Capital Interests in the Company to its members.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">VV Investment shall dissolve and distribute its Class&nbsp;A-1 Capital Interests in the Company to its members.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">(x)&nbsp;Pursuant to a Merger Agreement in the form attached hereto as <u>Exhibit&nbsp;D</u> (the &#147;<u>SLP Merger Agreement</u>&#148;), (I)&nbsp;Merger Sub shall merge with and into SLP Temasek LLC, with SLP Temasek LLC continuing as the surviving company of such merger and becoming a wholly-owned subsidiary of Pubco, and the owners of SLP Temasek LLC, SLP Stockholder and Temasek Stockholder, shall receive shares of Class&nbsp;A Common Stock and the right to receive payments under the SLP and Temasek Stockholders Tax Receivable Agreement (as defined below), and (II)&nbsp;immediately following such merger, SLP Temasek LLC shall merge with and into Intermediate Holdings, with Intermediate Holdings continuing as the surviving company of such merger and (y)&nbsp;pursuant to a Merger Agreement in the form attached hereto as <u>Exhibit&nbsp;E</u> (the &#147;<u>Temasek Merger Agreement</u>&#148;), (I)&nbsp;Merger Sub II shall merge with and into Temasek Pre-IPO Member, with Temasek Pre-IPO Member continuing as the surviving company of such merger and becoming a wholly-owned subsidiary of Pubco, and the owner of Temasek Pre-IPO Member, Temasek Stockholder, shall receive shares of Class&nbsp;A Common Stock and the right to receive payments under the SLP and Temasek Stockholders Tax Receivable Agreement, and (II)&nbsp;immediately following such merger, Temasek Pre-IPO Member shall merge with and into Intermediate Holdings II, with Intermediate Holdings II continuing as the surviving company of such merger (the mergers described in this <u>Section&nbsp;2.1(b)(v)</u>, the &#147;<u>Mergers</u>&#148;).</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company shall: (x)&nbsp;reclassify all Class&nbsp;A-1 Interests, Class&nbsp;A-2 Capital Interests, Class&nbsp;A-2 Profits Interests and Class</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7<a name="26867-3-IE-01_PB_7_150208_141"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=9,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=1038492,FOLIO='7',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:55 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B Interests outstanding as of immediately prior to the Form&nbsp;8-A Effective Time into the number of Common Units, in the aggregate, set forth on <u>Schedule A</u> and each such Class&nbsp;A-1 Interest, Class&nbsp;A-2 Capital Interest, Class&nbsp;A-2 Profits Interest and Class&nbsp;B Interest shall be reclassified into a number of Company Common Units (rounded up or down to the nearest whole number) having a value equal to the amount that would have been distributed in respect thereof pursuant to ARTICLE&nbsp;XI of the Existing Company LLC Agreement had the Company been liquidated on the date of the Form&nbsp;8-A Effective Time and gross proceeds from such liquidation been distributed to the members of the Company immediately prior to the Form&nbsp;8-A Effective Time pursuant to ARTICLE&nbsp;XI of the Existing Company LLC Agreement in an aggregate amount equal to the total equity value of all Class&nbsp;A-1 Interests, Class&nbsp;A-2 Capital Interests, Class&nbsp;A-2 Profits Interests and Class&nbsp;B Interests immediately prior to the Form&nbsp;8-A Effective Time that is implied by the IPO Price Per Share (with respect to each Class&nbsp;A-1 Interest, Class&nbsp;A-2 Capital Interest, Class&nbsp;A-2 Profits Interest or Class&nbsp;B Interest, its &#147;<u>Hypothetical Liquidation Value</u>&#148;), <u>provided</u> that certain Company Common Units will continue to be subject to vesting on terms set forth in the Company Employee Equity Letters (described below) and the MIP; (y)&nbsp;amend and restate its limited liability company agreement in the form attached hereto as <u>Exhibit&nbsp;F</u> (the &#147;<u>Company LLC Agreement</u>&#148;) so that, among other things, (I)&nbsp;Pubco shall become the sole managing member of the Company and (II)&nbsp;after giving effect to the reclassification described in clause (x)&nbsp;above, each of the Persons (the &#147;<u>Post-Reorg Company Members</u>&#148;) listed on the Member Schedule (as such term is defined in the Company LLC Agreement) (the &#147;<u>Company Member Schedule</u>&#148;) shall be or become members of the Company and shall own the number of Company Common Units set forth opposite such Post-Reorg Company Member&#146;s name on the Company Member Schedule, which Company Member Schedule shall be delivered to SLP Investors, SLP Tech Associates, the Temasek Stockholder and TJMT Holdings concurrently with the execution of the Company LLC Agreement; and (z)&nbsp;as soon as reasonably practicable, provide written notice to each Post-Reorg Company Member setting forth the Hypothetical Liquidation Value attributable to the Class&nbsp;A-1 Interests, Class&nbsp;A-2 Capital Interests, Class&nbsp;A-2 Profits Interests and/or Class&nbsp;B Interests previously held thereby and the resulting number of Company Common Units then owned thereby.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">As a condition to receiving Company Common Units in the reclassification described in clause (vi)(x)&nbsp;above, each of the Post-Reorg Company Members (other than Pubco,&nbsp;Intermediate Holdings,&nbsp;Intermediate Holdings II and TJMT Holdings) shall enter into a Subscription Agreement in the form attached hereto as <u>Exhibit&nbsp;G</u> (collectively, the &#147;<u>Class&nbsp;C Subscription Agreements</u>&#148;), whereby such Post-Reorg Company Member (each, a &#147;<u>Class&nbsp;C Subscriber</u>&#148;) shall subscribe for, and Pubco shall issue to each such Class&nbsp;C Subscriber upon payment</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8<a name="26867-3-IE-01_PB_8_150216_7608"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=10,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=911053,FOLIO='8',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:55 2015' -->

<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">therefor, the number of shares of Class&nbsp;C Common Stock (the &#147;<u>Class&nbsp;C Shares</u>&#148;) equal to the number of Company Common Units set forth opposite such Post-Reorg Company Member&#146;s name on the Company Member Schedule.(1)</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(viii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">As a condition to receiving Company Common Units in the reclassification described in clause (vi)(x)&nbsp;above, TJMT Holdings shall enter into a Subscription Agreement in the form attached hereto as <u>Exhibit&nbsp;H</u> (the &#147;<u>Class&nbsp;D Subscription Agreement</u>&#148;), whereby TJMT Holdings shall subscribe for, and Pubco shall issue to TJMT Holdings upon payment therefor, the number of shares of Class&nbsp;D Common Stock (the &#147;<u>Class&nbsp;D Shares</u>&#148;) equal to the number of Company Common Units set forth opposite TJMT Holdings&#146; name on the Company Member Schedule.(2)</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ix)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">As a condition to receiving Company Common Units in the reclassification described in clause (vi)(x)&nbsp;above, each of the Post-Reorg Company Members (other than Pubco,&nbsp;Intermediate Holdings and Intermediate Holdings II) shall enter into an Exchange Agreement with the Company and Pubco in the form attached hereto as <u>Exhibit&nbsp;I</u> (the &#147;<u>Exchange Agreement</u>&#148;), whereby each such Post-Reorg Company Member shall be permitted to exchange with Pubco its Company Common Units and shares of Class&nbsp;C Common Stock or Class&nbsp;D Common Stock, as the case may be, for shares of Class&nbsp;A Common Stock or Class&nbsp;B Common Stock, as applicable.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(x)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Certain of the Post-Reorg Company Members shall enter into a Unit Vesting, Equity Retention and Restrictive Covenant Agreement or Equity Retention and Restrictive Covenant Agreement in the form attached hereto as <u>Exhibit&nbsp;J</u> (&#147;<u>Company Employee Equity Letters</u>&#148;), pursuant to which each such Post-Reorg Company Member shall, among other things, (x)&nbsp;agree to certain restrictions on transfer set forth therein and (y)&nbsp;as a condition to receiving Unvested Company Common Units in the reclassification described in clause (vi)(x)&nbsp;above, acknowledge that any Unvested Company Common Units owned thereby (if any) remain subject to the MIP and the vesting terms applicable to the Interests in the Company from which its Unvested Company Common Units were reclassified.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="1" width="25%" noshade color="black" align="left"></div>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Note to Draft</font></u><font size="2" style="font-size:10.0pt;">:&#160; Each such member will subscribe for a number of shares of Class&nbsp;C Common Stock equal to the number of Common Units of the Company that such member will own after giving effect to the Company LLC Agreement.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Note to Draft</font></u><font size="2" style="font-size:10.0pt;">:&#160; TJMT Holdings will subscribe for a number of shares of Class&nbsp;D Common Stock equal to the number of Common Units of the Company that TJMT Holdings will own after giving effect to the Company LLC Agreement.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9<a name="26867-3-IE-03_PB_9_150316_8146"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=11,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=902008,FOLIO='9',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xi)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company shall amend and restate the MIP in the form attached hereto as <u>Exhibit&nbsp;K</u>.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">VFH Parent shall sell to Pubco, and Pubco shall repurchase from VFH Parent, all of VFH Parent&#146;s outstanding common stock (prior to giving effect to the SLP Merger Agreement and the Temasek Merger Agreement, the Class&nbsp;C Subscription Agreements and the Class&nbsp;D Subscription Agreement) for $100.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xiii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">As a condition to the Mergers, Pubco, TJMT Holdings, Viola, the SLP Parties and the other parties thereto shall enter into a Stockholders Agreement in the form attached hereto as <u>Exhibit&nbsp;L</u> (the &#147;<u>Stockholders Agreement</u>&#148;).</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xiv)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">As a condition to the Mergers, Pubco, SLP Stockholder and Temasek Stockholder shall enter into a Tax Receivable Agreement in the form attached hereto as <u>Exhibit&nbsp;M</u> (the &#147;<u>SLP and Temasek Stockholders Tax Receivable Agreement</u>&#148;).</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xv)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">As a condition to the Mergers, Pubco, SLP Investors and SLP Tech Associates shall enter into a Tax Receivable Agreement in the form attached hereto as <u>Exhibit&nbsp;N</u>.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xvi)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">As a condition to the Mergers, Pubco and the Post-Reorg Company Members (other than SLP Investors, SLP Tech Associates, Pubco,&nbsp;Intermediate Holdings and Intermediate Holdings II) shall enter into a Tax Receivable Agreement in the form attached hereto as <u>Exhibit&nbsp;O</u>.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xvii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Pubco, the Post-Reorg Company Members (other than Pubco,&nbsp;Intermediate Holdings and Intermediate Holdings II), SLP Stockholder and Temasek Stockholder shall enter into a Registration Rights Agreement in the form attached hereto as <u>Exhibit&nbsp;P</u>.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xviii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Employee Holdco shall: (x)&nbsp;reclassify (1)&nbsp;each Class&nbsp;A-2 Profits Interest and Class&nbsp;B Interest (as each such term is defined in the Existing Employee Holdco LLC Agreement) outstanding as of immediately prior to the Form&nbsp;8-A Effective Time into a number of Employee Holdco Common Units equal to the number of Company Common Units into which such Class&nbsp;A-2 Profits Interest&#146;s or Class&nbsp;B Interest&#146;s Attributable Interest (as each such term is defined in the Existing Employee Holdco LLC Agreement), as the case may be, shall be reclassified pursuant to Section&nbsp;2.1(b)(vi)&nbsp;and (2)&nbsp;each Employee Holdco Class&nbsp;A-2 Capital Interest issued pursuant to the East MIP Liquidation Agreement into a number of Employee Holdco Common Units equal to the number of Company Common Units into which each Class&nbsp;A-2 Capital Interest shall be reclassified pursuant to Section&nbsp;2.1(b)(vi),</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10<a name="26867-3-IE-03_PB_10_150350_7091"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=12,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=181316,FOLIO='10',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">provided</font></u><font size="2" style="font-size:10.0pt;"> that certain Employee Holdco Common Units will continue to be subject to vesting on terms set forth in the Employee Holdco Employee Equity Letters (described below);&#160; (y)&nbsp;amend and restate its limited liability company agreement in the form attached hereto as <u>Exhibit&nbsp;Q</u> (the &#147;<u>Employee Holdco LLC Agreement</u>&#148;) so that, among other things, (I)&nbsp;after giving effect to the&#160; reclassification described in clause (x)&nbsp;above, each of the Employee Holdco Members shall own the number of Employee Holdco Common Units set forth opposite such Employee Holdco Member&#146;s name on the Member Schedule (as such term is defined in the Employee Holdco LLC Agreement) and (II)&nbsp;at any time after the Form&nbsp;8-A Effective Time, subject to certain restrictions (including any transfer restrictions set forth in the Employee Holdco Employee Equity Letters), each Employee Holdco Member can elect to (A)&nbsp;cause Employee Holdco to distribute the vested Company Common Units and corresponding shares of Class&nbsp;C Common Stock indirectly owned by such Employee Holdco Member to such Employee Holdco Member in redemption of its corresponding Employee Holdco Common Units, (B)&nbsp;exchange such Company Common Units and corresponding shares of Class&nbsp;C Common Stock into shares of Class&nbsp;A Common Stock and/or (C)&nbsp;transfer such shares of Class&nbsp;A Common Stock; and (z)&nbsp;as soon as reasonably practicable, provide written notice to each Employee Holdco Member setting forth the Hypothetical Liquidation Value attributable to such Employee Holdco Member&#146;s Attributable Interests and the resulting number of Employee Holdco Common Units then owned thereby.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xix)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Each of the Employee Holdco Members shall enter into a Unit Vesting, Equity Retention and Restrictive Covenant Agreement in the form attached hereto as <u>Exhibit&nbsp;R</u> (the &#147;<u>Employee Holdco Employee Equity Letters</u>&#148;) with Employee Holdco with respect to such Unvested Employee Holdco Common Units and any Common Stock of Pubco exchanged thereafter, pursuant to which such Employee Holdco Member shall, among other things, (x)&nbsp;agree to certain restrictions on transfer set forth therein and (y)&nbsp;as a condition to receiving Unvested Employee Holdco Common Units in the reclassification described in clause (xvii)(x)&nbsp;above, acknowledge that its Unvested Employee Holdco Common Units and any Common Stock of Pubco exchanged thereafter remain subject to the MIP and the vesting terms applicable to the Interests in the Company from which its Unvested Employee Holdco Common Units were reclassified.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Immediately following the IPO Closing, the applicable parties shall take the actions set forth below (or cause such actions to take place):</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Pubco shall acquire a number of Company Common Units (rounded up or down to the nearest whole number) equal to the quotient of (A)&nbsp;the Primary Amount <u>divided by</u> (B)&nbsp;the IPO Price Per Share (such that the Company shall be responsible for the</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11<a name="26867-3-IE-03_PB_11_150411_455"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=13,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=502374,FOLIO='11',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">underwriting discount per share paid in the IPO Closing with respect to the Primary Amount); <u>provided</u> that for administrative convenience and subject to the following sentence, the net amount per Company Common Unit paid to the Company by Pubco shall be the Discounted Price.&#160; The aggregate purchase price for such Company Common Units will be paid in cash by Pubco to, or at the direction of, the Company; <u>provided</u> that Pubco may reduce the amount paid thereby by the amount of any IPO Offering Expenses borne by Pubco and not otherwise reimbursed.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">SLP Stockholder and Pubco shall enter into a Purchase Agreement in the form attached hereto as <u>Exhibit&nbsp;S</u> (the &#147;<u>SLP Stockholder Purchase Agreement</u>&#148;), pursuant to which SLP Stockholder shall sell to Pubco, and Pubco shall repurchase from SLP Stockholder, the number of shares of Class&nbsp;A Common Stock set forth opposite SLP Stockholder&#146;s name on <u>Schedule I</u> thereto.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Pubco shall enter into a Purchase Agreement in the form attached hereto as <u>Exhibit&nbsp;T</u> (the &#147;<u>Member Purchase Agreement</u>&#148;) with the Post-Reorg Company Members party thereto, pursuant to which such Post-Reorg Company Members shall sell to Pubco, and Pubco shall purchase from such Post-Reorg Company Members, the number of Company Common Units and shares of Class&nbsp;C Common Stock or Class&nbsp;D Common Stock, as the case may be, set forth opposite each such Post-Reorg Company Member&#146;s name on <u>Schedule I</u> thereto.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Certain Employee Holdco Members and Employee Holdco shall enter into a Redemption Agreement in the form attached hereto as <u>Exhibit&nbsp;U</u>, pursuant to which, immediately following the repurchases contemplated by the Member Purchase Agreement, Employee Holdco shall, using the proceeds received thereby pursuant to the Member Purchase Agreement, redeem from each Employee Holdco Member party thereto the number of Employee Holdco Common Units set forth below such Employee Holdco Member&#146;s name on its signature page&nbsp;thereto.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">If at any time following the IPO Closing the underwriters exercise their option to purchase additional shares of Class&nbsp;A Common Stock from Pubco, Pubco shall acquire from the Company, at a price per Company Common Unit equal to the IPO Price Per Share (such that the Company shall be responsible for the underwriting discount per share paid with respect thereto), an aggregate number of additional Company Common Units (rounded up or down to the nearest whole number) equal to (i)&nbsp;the number of additional shares of Class&nbsp;A Common Stock so purchased by the underwriters less (ii)&nbsp;the number of Secondary Securities (if any) purchased using a portion of the proceeds from such exercise of the underwriters&#146; option; <u>provided</u> that for administrative convenience and subject to the following sentence, the net amount per Company Common Unit paid to the Company by Pubco shall be the Discounted Price.&#160; The aggregate purchase price for such Company Common Units will be paid in cash by Pubco to, or at the direction of, the Company; <u>provided</u> that Pubco may reduce the</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12<a name="26867-3-IE-03_PB_12_150428_4141"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=14,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=482066,FOLIO='12',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">amount paid thereby by the amount of any additional IPO Offering Expenses borne by Pubco and not otherwise reimbursed (whether pursuant to Section&nbsp;2.1(c)(i)&nbsp;or otherwise).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.2</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Consent to Reorganization Transactions</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Each of the parties hereto hereby acknowledges, agrees and consents to all of the Reorganization Transactions.&#160; Each of the parties hereto shall take all reasonable action necessary or appropriate in order to effect, or cause to be effected, to the extent within its control, each of the Reorganization Transactions and the IPO.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The parties hereto shall deliver to each other, as applicable,&#160; prior to or at the Form&nbsp;8-A Effective Time, each of the Reorganization Documents to which it is a party, together with any other documents and instruments necessary or appropriate to be delivered in connection with the Reorganization Transactions.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.3</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">No Liabilities in Event of Termination; Certain Covenants</font></u><font size="2" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">In the event that the IPO is abandoned or, unless the Board, the Company, SLP Investors, Temasek Stockholder and TJMT Holdings otherwise agree, the IPO Closing has not occurred by [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], 2015, (a)&nbsp;this Agreement shall automatically terminate and be of no further force or effect except for this Section&nbsp;2.3 and Sections 4.1, 4.2, 4.3, 4.6, 4.7, 4.8, 4.9, 4.10, 4.11 and 4.12 and (b)&nbsp;there shall be no liability on the part of any of the parties hereto, except that such termination shall not preclude any party from pursuing judicial remedies for damages and/or other relief as a result of the breach by the other parties of any representation, warranty, covenant or agreement contained herein prior to such termination.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">In the event that this Agreement is terminated for any reason after the consummation of any Reorganization Transaction, but prior to the consummation of all of the Reorganization Transactions, the parties agree, as applicable, to cooperate and work in good faith to execute and deliver such agreements and consents and amend such documents and to effect such transactions or actions as may be necessary to re-establish the rights, preferences and privileges that the parties hereto had prior to the consummation of the Reorganization Transactions, or any part thereof, including, without limitation, voting any and all securities owned by such party in favor of any amendment to any organizational document and in favor of any transaction or action necessary to re-establish such rights, powers and privileges and causing to be filed all necessary documents with any governmental authority necessary to reestablish such rights, preferences and privileges (it being understood and agreed that if such termination occurs subsequent to the events described in Section&nbsp;2.1(b)(vi)&nbsp;hereof, the parties agree to amend the Company LLC Agreement so that the governance, transfer restrictions, liquidity rights and other related provisions therein with respect to Pubco, Pubco&#146;s subsidiaries and Pubco&#146;s and the Company&#146;s securities correspond in all substantive respects with the provisions contained in the Existing Company LLC Agreement as in effect on the date hereof).</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13<a name="26867-3-IE-03_PB_13_150435_8627"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=15,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=335447,FOLIO='13',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">For the avoidance of doubt, each party hereto acknowledges and agrees that until the consummation of the Reorganization Transactions: (i)&nbsp;the parties hereto shall not receive or lose any voting, governance or similar rights in connection with this Agreement or the Reorganization Transactions and (ii)&nbsp;the rights of the parties hereto under the Existing Company LLC Agreement shall not be effected.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;III</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">REPRESENTATIONS AND WARRANTIES</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Representations and Warranties</font></u><font size="2" style="font-size:10.0pt;">.&#160; Each party hereto hereby represents and warrants to all of the other parties hereto as follows:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The execution, delivery and performance by such party of this Agreement and of the applicable Reorganization Documents, to the extent a party thereto, has been or prior to the Form&nbsp;8-A Effective Time will be duly authorized by all necessary action.&#160; If such party is not an individual, such party is duly organized, validly existing and in good standing under the laws of its jurisdiction of organization or incorporation;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Such party has or prior to the Form&nbsp;8-A Effective Time will have the requisite power, authority, legal right and, if such party is an individual, legal capacity, to execute and deliver this Agreement and each of the Reorganization Documents, to the extent a party thereto, and to consummate the transactions contemplated hereby and thereby, as the case may be;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">This Agreement and each of the Reorganization Documents to which it is a party has been (or when executed will be) duly executed and delivered by such party and constitutes the legal, valid and binding obligation of such party, enforceable against such party in accordance with its terms, subject to (i)&nbsp;the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors&#146; rights generally, (ii)&nbsp;general equitable principles (whether considered in a proceeding in equity or at law) and (iii)&nbsp;an implied covenant of good faith and fair dealing; and</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Neither the execution, delivery and performance by such party of this Agreement and the applicable Reorganization Documents, to the extent a party thereto, nor the consummation by such party of the transactions contemplated hereby, nor compliance by such party with the terms and provisions hereof, will, directly or indirectly (with or without notice or lapse of time or both), (i)&nbsp;if such party is not an individual, contravene or conflict with, or result in a breach or termination of, or constitute a default under (or with notice or lapse of time or both, result in the breach or termination of or constitute a default under) the organizational documents of such party, (ii)&nbsp;constitute a violation by such party of any existing requirement of law applicable to such party or any of its properties, rights or assets or (iii)&nbsp;require the consent or approval of any Person, except, in the case of clauses (ii)&nbsp;and (iii), as would not reasonably be</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14<a name="26867-3-IE-03_PB_14_150457_7906"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=16,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=215907,FOLIO='14',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">expected to result in, individually or in the aggregate, a material adverse effect on the ability of such party to consummate the transactions contemplated by this Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;IV</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">MISCELLANEOUS</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Amendments and Waivers</font></u><font size="2" style="font-size:10.0pt;">.&#160; This Agreement (including the Exhibits) may be modified, amended or waived only with the written approval of Pubco, the Company, SLP Investors, Temasek Stockholder and TJMT Holdings; <u>provided</u>, <u>however</u>, that any modification, amendment or waiver that would affect any other party hereto in a manner materially and disproportionately adverse to such party shall be effective against such party so materially and adversely affected only with the prior written consent of such party, such consent not to be unreasonably withheld or delayed.&#160; The failure of any party to enforce any of the provisions of this Agreement shall in no way be construed as a waiver of such provisions and shall not affect the right of such party thereafter to enforce each and every provision of this Agreement in accordance with its terms.&#160; Notwithstanding anything to the contrary in this Section&nbsp;4.1, nothing in this Section&nbsp;4.1 shall be deemed to contradict the provisions of Section&nbsp;2.3 hereof.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.2</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Successors and Assigns</font></u><font size="2" style="font-size:10.0pt;">.&#160; This Agreement shall bind and inure to the benefit of and be enforceable by the parties hereto and their respective successors and permitted assigns.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.3</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Notices</font></u><font size="2" style="font-size:10.0pt;">.&#160; All notices, requests and other communications to any party hereunder shall be in writing (including facsimile transmission and electronic mail (&#147;e-mail&#148;) transmission, so long as a receipt of such e-mail is requested and not received by automated response).&#160; All such notices, requests and other communications shall be deemed received on the date of receipt by the recipient thereof if received prior to 5:00&nbsp;p.m. on a Business Day in the place of receipt.&#160; Otherwise, any such notice, request or communication shall be deemed to have been received on the next succeeding Business Day in the place of receipt.&#160; All such notices, requests and other communications to any party hereunder shall be given to such party as follows:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If to any of the SLP Parties addressed to it at:</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">c/o Silver Lake<br> 2775 Sand Hill Road, Suite&nbsp;100<br> Menlo Park, California 94025<br> Telephone: (650) 233-8120</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:&#160; Karen King</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile: (650) 233-8125<br> E-mail: karen.king@silverlake.com</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15<a name="26867-3-IE-03_PB_15_150630_3736"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=17,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=1025325,FOLIO='15',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9 West 57th Street, 32nd&nbsp;Floor<br> New York,&nbsp;NY 10019<br> Telephone: (212) 981-5600<br> Attention: Andrew J. Schader</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile: (212) 981-3535<br> E-mail: andy.schader@silverlake.com</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">With copies (which shall not constitute notice) to:</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Simpson Thacher&nbsp;&amp; Bartlett LLP<br> 2475 Hanover Street<br> Palo Alto, California 94304<br> Attention: Rich Capelouto<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Atif I. Azher<br> Facsimile No.:&#160; (650) 251-5002<br> E-mail: rcapelouto@stblaw.com<br> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; aazher@stblaw.com</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If to any of the Temasek Parties addressed to it at:</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Temasek Holdings (Private) Limited</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14th Floor, 375 Park Avenue</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New York, NY 10152</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="23%" valign="top" style="padding:0in 0in 0in 0in;width:23.34%;">
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:</font></p>    </td>
<td width="76%" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mukul   Chawla</font></p>    </td>   </tr>
<tr>
<td width="23%" valign="top" style="padding:0in 0in 0in 0in;width:23.34%;">
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Email:</font></p>    </td>
<td width="76%" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">mukul@temasek.com.sg</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Temasek Holdings (Private) Limited</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">60b Orchard Road</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">#06-18 Tower 2</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Atrium@Orchard</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Singapore 238891</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="23%" valign="top" style="padding:0in 0in 0in 0in;width:23.34%;">
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:</font></p>    </td>
<td width="76%" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pradyumna   Agrawal</font></p>    </td>   </tr>
<tr>
<td width="23%" valign="top" style="padding:0in 0in 0in 0in;width:23.34%;">
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Email:</font></p>    </td>
<td width="76%" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">pradyumna@temasek.com.sg</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">With copies (which shall not constitute actual notice) to:</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cravath, Swaine&nbsp;&amp; Moore LLP</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">825 Eighth Avenue</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New York, NY 10019</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:&#160; Damien R. Zoubek</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile:&#160; (212) 474-3700</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Email: dzoubek@cravath.com</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16<a name="26867-3-IE-03_PB_16_150749_9621"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=18,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=672546,FOLIO='16',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:&#160; Ting S. Chen</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile:&#160; (212) 474-3700</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Email: tchen@cravath.com</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If to Pubco, the Company,&nbsp;Intermediate Holdings,&nbsp;Intermediate Holdings II, Employee Holdco or East MIP addressed to it at:</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Virtu Financial LLC <br> 645 Madison Avenue<br> New York, New York&#160; 10022<br> Attention: Legal Department<br> Facsimile No.: (212) 418-0100<br> E-mail: legal@virtu.com</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">With copies (which shall not constitute notice) to:</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison LLP<br> 1285 Avenue of the Americas<br> New&nbsp;York, NY&#160; 10019-6064<br> Facsimile No.:&#160; (212) 757-3990</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="23%" valign="top" style="padding:0in 0in 0in 0in;width:23.34%;">
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:</font></p>    </td>
<td width="76%" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">John   C. Kennedy</font></p>    </td>   </tr>
<tr>
<td width="23%" valign="top" style="padding:0in 0in 0in 0in;width:23.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="76%" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Jeffrey   D. Marell</font></p>    </td>   </tr>
<tr>
<td width="23%" valign="top" style="padding:0in 0in 0in 0in;width:23.34%;">
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">E-mail:</font></p>    </td>
<td width="76%" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">jkennedy@paulweiss.com</font></p>    </td>   </tr>
<tr>
<td width="23%" valign="top" style="padding:0in 0in 0in 0in;width:23.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="76%" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">jmarell@paulweiss.com</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If to any of the Viola Parties addressed to it at:</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">c/o Virtu Financial LLC<br> 645 Madison Avenue<br> New York, New York&#160; 10022<br> Facsimile No.: 212 418 0100<br> E-mail: legal@virtu.com</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">With copies (which shall not constitute notice) to:</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison LLP<br> 1285 Avenue of the Americas<br> New&nbsp;York, NY&#160; 10019-6064<br> Facsimile No.:&#160; (212) 757-3990</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="23%" valign="top" style="padding:0in 0in 0in 0in;width:23.34%;">
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:</font></p>    </td>
<td width="76%" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">John   C. Kennedy</font></p>    </td>   </tr>
<tr>
<td width="23%" valign="top" style="padding:0in 0in 0in 0in;width:23.34%;">
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="76%" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Jeffrey   D. Marell</font></p>    </td>   </tr>
<tr>
<td width="23%" valign="top" style="padding:0in 0in 0in 0in;width:23.34%;">
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">E-mail:</font></p>    </td>
<td width="76%" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">jkennedy@paulweiss.com</font></p>    </td>   </tr>
<tr>
<td width="23%" valign="top" style="padding:0in 0in 0in 0in;width:23.34%;">
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="76%" valign="top" style="padding:0in 0in 0in 0in;width:76.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">jmarell@paulweiss.com</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If to either of SLP Temasek Feeder or SLP Temasek LLC to the address, facsimile or email address specified for both the SLP Parties and the Temasek Parties above.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17<a name="26867-3-IE-03_PB_17_151020_8715"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=19,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=689657,FOLIO='17',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If to any other party, at the address, facsimile number or e-mail address specified for such party on the Company Member Schedule or to such other address or facsimile number as such party may hereafter specify for the purpose by notice to the other parties hereto.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.4</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Further Assurances</font></u><font size="2" style="font-size:10.0pt;">.&#160; At any time or from time to time after the date hereof, the parties agree to cooperate with each other, and at the request of any other party, to execute and deliver any further instruments or documents and to take all such further action as the other party may reasonably request in order to evidence or effectuate the consummation of the transactions contemplated hereby and to otherwise carry out the intent of the parties hereunder.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.5</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Entire Agreement</font></u><font size="2" style="font-size:10.0pt;">.&#160; Except as otherwise expressly set forth herein, this Agreement, together with the Reorganization Documents, embodies the complete agreement and understanding among the parties hereto with respect to the subject matter hereof and supersedes and preempts any prior understandings, agreements or representations by or among the parties, written or oral, that may have related to the subject matter hereof in any way.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.6</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Governing Law</font></u><font size="2" style="font-size:10.0pt;">.&#160; This Agreement shall be governed in all respects by the laws of the State of Delaware, without regard to the conflicts of law rules&nbsp;of such State that would result in the application of the laws of any other State.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.7</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Jurisdiction</font></u><font size="2" style="font-size:10.0pt;">. The parties hereto agree that any suit, action or proceeding seeking to enforce any provision of, or based on any matter arising out of or in connection with, this Agreement or the transactions contemplated hereby (whether brought by any party or any of its affiliates or against any party or any of its affiliates) shall be brought in the Delaware Chancery Court or, if such court shall not have jurisdiction, any federal court located in the State of Delaware or other Delaware state court, and each of the parties hereby irrevocably consents to the jurisdiction of such courts (and of the appropriate appellate courts therefrom) in any such suit, action or proceeding and irrevocably waives, to the fullest extent permitted by law, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum.&#160; Process in any such suit, action or proceeding may be served on any party anywhere in the world, whether within or without the jurisdiction of any such court.&#160; Without limiting the foregoing, each party agrees that service of process on such party as provided in&nbsp;Section&nbsp;4.3 shall be deemed effective service of process on such party.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.8</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">WAIVER OF JURY TRIAL</font></u><font size="2" style="font-size:10.0pt;">.&#160; EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.9</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Severability</font></u><font size="2" style="font-size:10.0pt;">.&#160; Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18<a name="26867-3-IE-03_PB_18_151029_563"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=20,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=951713,FOLIO='18',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:56 2015' -->

<div>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other provision or any other jurisdiction, but this Agreement shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.10&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Enforcement</u>.&#160; Each party hereto acknowledges that money damages would not be an adequate remedy in the event that any of the covenants or agreements in this Agreement are not performed in accordance with its terms, and it is therefore agreed that in addition to and without limiting any other remedy or right it may have, the non-breaching party will have the right to an injunction, temporary restraining order or other equitable relief in any court of competent jurisdiction enjoining any such breach and enforcing specifically the terms and provisions hereof.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.11&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Counterparts; Facsimile Signatures</u>.&#160; This Agreement may be executed in any number of counterparts, each of which shall be an original, but all of which together shall constitute one instrument.&#160; This Agreement may be executed by facsimile, e-mail or .pdf format signature(s).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.12&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Expenses</u>.&#160; Unless otherwise provided in the Reorganization Documents, all costs and expenses incurred in connection with the negotiation and execution of this Agreement and the transactions contemplated by this Agreement shall be paid by the party incurring such cost or expense.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19<a name="26867-3-IE-05_PB_19_151158_9497"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=21,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=178698,FOLIO='19',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:34 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IN WITNESS WHEREOF, the parties hereto have executed this Reorganization Agreement as of the date first above written.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIRTU   FINANCIAL, INC.</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="44%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIRTU   FINANCIAL LLC</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="44%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIRTU   FINANCIAL MERGER SUB LLC</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="44%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIRTU   FINANCIAL MERGER SUB II LLC</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="44%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Signature Page to the Reorganization Agreement]</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=22,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=649302,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:34 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIRTU   FINANCIAL INTERMEDIATE HOLDINGS LLC</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="44%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIRTU   FINANCIAL INTERMEDIATE HOLDINGS II LLC</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="44%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VFH   PARENT LLC</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="44%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Signature Page to the Reorganization Agreement]</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=23,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=772055,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:34 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SLP   VIRTU INVESTORS, LLC</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   Silver Lake Partners III DE (AIV III), L.P., its managing member</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   Silver Lake Technology Associates III, L.P., its general partner</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   SLTA III (GP), L.L.C., its general partner</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   Silver Lake Group, L.L.C., its sole member</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:   Managing Member</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SLP   III EW FEEDER I, L.P.</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   Silver Lake Technology Associates III, L.P., its general partner</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   SLTA III (GP), L.L.C., its general partner</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   Silver Lake Group, L.L.C., its sole member</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:   Managing Member</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Signature Page to the Reorganization Agreement]</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=24,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=1039131,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:34 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SLP   III EW FEEDER II, L.P.</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   Silver Lake Technology Associates III, L.P., its general partner</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   SLTA III (GP), L.L.C., its general partner</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   Silver Lake Group, L.L.C., its sole member</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:   Managing Member</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SILVER   LAKE TECHNOLOGY ASSOCIATES III, L.P.</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   SLTA III (GP), L.L.C., its general partner</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   Silver Lake Group, L.L.C., its sole member</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:   Managing Member</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SLP   III EW FEEDER LLC</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   SLP III EW FEEDER I, L.P., its managing member</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   Silver Lake Technology Associates III, L.P., its general partner</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   SLTA III (GP), L.L.C., its general partner</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   Silver Lake Group, L.L.C., its sole member</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:   Managing Member</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Signature Page to the Reorganization Agreement]</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=25,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=419279,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:34 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">HAVELOCK   FUND INVESTMENTS PTE LTD.</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WILBUR   INVESTMENTS LLC</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Signature Page to the Reorganization Agreement]</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=26,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=649244,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:34 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VV   INVESTMENT LLC</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="44%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIRTU   FINANCIAL HOLDINGS LLC</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="44%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VINCENT   VIOLA</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">TJMT   HOLDINGS LLC</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="44%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Signature Page to the Reorganization Agreement]</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=27,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=918339,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:34 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIRTU   EAST MIP LLC</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="44%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIRTU   EMPLOYEE HOLDCO LLC</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="44%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Signature Page to the Reorganization Agreement]</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=28,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=950607,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:34 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">OTHER   CLASS A MEMBERS:</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">DOUGLAS   A. CIFU</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">[OTHER   CLASS A MEMBERS]</font></b></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Signature Page to the Reorganization Agreement]</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=29,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="3",CHK=332427,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-IE-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:34 2015' -->

<BR>
<!-- TOCEXISTFLAG -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.6
<SEQUENCE>4
<FILENAME>a2223212zex-10_6.htm
<DESCRIPTION>EX-10.6
<TEXT>
<HTML>
<HEAD>
</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>
<div>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 10.6</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<table border="1" cellspacing="0" cellpadding="0" width="100%" style="border:none;border-collapse:collapse;width:100.0%;">
<tr>
<td width="44%" valign="top" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:44.16%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="55%" valign="top" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">TAX RECEIVABLE AGREEMENT (non-SLP EXCHANGES)<br><br></font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">among<br><br></font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIRTU FINANCIAL,&nbsp;INC.,</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">and</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">THE PERSONS NAMED HEREIN</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Dated as of [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], 2015</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>
<div style="border:none;border-bottom:double windowtext 1.5pt;padding:0in 0in 1.0pt 0in;">
<p align="center" style="border:none;margin:0in 0in .0001pt;padding:0in;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
</div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=1,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=755345,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 12:47 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">TABLE OF CONTENTS</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="82%" valign="bottom" style="padding:0in 0in 0in 0in;width:82.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="4%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:4.66%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Page</font></b></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="95%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;I DEFINITIONS</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;1.01</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Definitions</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="95%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;II DETERMINATION OF   REALIZED TAX BENEFIT</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.01</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Basis Adjustment</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.02</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Realized Tax Benefit and Realized Tax Detriment</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.03</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Procedures, Amendments</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="95%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;III TAX BENEFIT   PAYMENTS</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.01</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Payments</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.02</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">No Duplicative Payments</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.03</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pro Rata Payments; Coordination of Benefits With Other Tax   Receivable Agreements</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="95%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;IV TERMINATION</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;4.01</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Termination, Early Termination and Breach of Agreement</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;4.02</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Early Termination Notice</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;4.03</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Payment upon Early Termination</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="95%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;V SUBORDINATION AND   LATE PAYMENTS</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.01</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Subordination</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.02</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Late Payments by the Corporate Taxpayer</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="95%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;VI NO DISPUTES;   CONSISTENCY; COOPERATION</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.01</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Participation in the Corporate Taxpayer&#146;s and OpCo&#146;s Tax   Matters</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.02</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consistency</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.03</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cooperation</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="95%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;VII MISCELLANEOUS</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.01</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notices</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.02</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Binding Effect; Benefit; Assignment</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.03</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Resolution of Disputes</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.04</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Counterparts</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.05</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Entire Agreement</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.06</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Severability</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.07</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.08</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Governing Law</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.09</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Reconciliation</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">i<a name="26867-3-NG-01_PB_i_085551_3020"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=2,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=372338,FOLIO='i',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 12:47 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.10</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Withholding</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.11</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Admission of the Corporate Taxpayer into a Consolidated   Group; Transfers of Corporate Assets</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.12</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Confidentiality</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.13</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Change in Law</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.14</font></p>    </td>
<td width="82%" valign="top" style="padding:0in 0in 0in 0in;width:82.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Partnership Agreement</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.68%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ii<a name="26867-3-NG-01_PB_ii_085922_7748"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=3,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=648023,FOLIO='ii',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 12:47 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">TAX RECEIVABLE AGREEMENT (NON-SLP EXCHANGES)</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This TAX RECEIVABLE AGREEMENT (NON-SLP EXCHANGES) (as amended from time to time, this &#147;<u>Agreement</u>&#148;), dated as of [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], 2015, is hereby entered into by and among Virtu Financial,&nbsp;Inc., a Delaware corporation (the &#147;<u>Corporate Taxpayer</u>&#148;), each of the undersigned parties hereto identified as &#147;<u>Members</u>,&#148; and each of the successors and assigns thereto.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, Virtu Financial LLC, a Delaware limited liability company (&#147;<u>OpCo</u>&#148;), is treated as a partnership for U.S. federal income tax purposes;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the Corporate Taxpayer is classified as an association taxable as a corporation for U.S. federal income tax purposes;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the Members hold common interest units in OpCo (the &#147;<u>Common Units</u>&#148;), and following certain reorganization transactions, the Corporate Taxpayer will be the managing member of OpCo and will hold, directly and/or indirectly, Common Units;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, (i)&nbsp;in connection with the IPO (as defined below), each Member shall sell to the Corporate Taxpayer, and the Corporate Taxpayer shall purchase from such Member, a number of Common Units (together with shares of Class&nbsp;C common stock, $0.00001 par value per share, of the Corporate Taxpayer (&#147;<u>Class&nbsp;C Common Stock</u>&#148;)) pursuant to the provisions of the Member Purchase Agreement (as defined below) and (ii)&nbsp;in connection with a future public offering of Class&nbsp;A Common Stock of the Corporate Taxpayer, one or more Members may sell to the Corporate Taxpayer, and the Corporate Taxpayer may purchase from such Member, a number of Common Units (together with shares of Class&nbsp;C Common Stock) pursuant to the provisions of a future purchase agreement by and among the Corporate Taxpayer, OpCo and the relevant sellers;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, each Member may exchange Common Units (when exchanged along with shares of Class&nbsp;C common stock) for shares of Class&nbsp;A common stock, $0.00001 par value per share, of the Corporate Taxpayer (the &#147;<u>Class&nbsp;A Common Stock</u>&#148;) pursuant to the provisions of the Exchange Agreement (as defined below);</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, OpCo and each of its direct and indirect subsidiaries treated as a partnership for U.S. federal income tax purposes will have in effect an election under Section&nbsp;754 of the Internal Revenue Code of 1986, as amended (the &#147;<u>Code</u>&#148;), for each Taxable Year (as defined below) in which an Exchange (as defined below) occurs, which elections are intended generally to result in an adjustment to the tax basis of the assets owned by OpCo (solely with respect to the Corporate Taxpayer) at the time of an Exchange (such time, the &#147;<u>Exchange Date</u>&#148;) by reason of the Exchange and the receipt of payments under this Agreement;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the income, gain, loss, expense and other Tax (as defined below) items of the Corporate Taxpayer may be affected by (i)&nbsp;the Basis Adjustment (as defined below) and (ii)&nbsp;Imputed Interest (as defined below); and</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=4,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=106519,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 12:47 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the parties to this Agreement desire to make certain arrangements with respect to the effect of the Basis Adjustment and Imputed Interest on the actual liability for Taxes of the Corporate Taxpayer.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NOW, THEREFORE, in consideration of the foregoing and the respective covenants and agreements set forth herein, and intending to be legally bound hereby, the parties hereto agree as follows:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;I</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">DEFINITIONS</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;1.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Definitions</u>.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The following terms shall have the following meanings for the purposes of this Agreement:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Agreed Rate</u>&#148; means LIBOR plus 100 basis points.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Applicable Member</u>&#148; means any Member to whom any portion of a Realized Tax Benefit may be Attributable under this Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Attributable</u>&#148; means, with respect to any Applicable Member, the portion of any Realized Tax Benefit of the Corporate Taxpayer that is &#147;attributable&#148; to such Applicable Member, which shall be determined by reference to the assets from which arise the depreciation, amortization or other similar deductions for recovery of cost or basis (&#147;<u>Depreciation</u>&#148;) and with respect to increased basis upon a disposition of an asset or Imputed Interest that produce the Realized Tax Benefit, under the following principles:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; A portion of any Realized Tax Benefit arising from a deduction to the Corporate Taxpayer with respect to a Taxable Year for Depreciation arising in respect of a Basis Adjustment to a Reference Asset resulting from an Exchange is Attributable to the Applicable Member to the extent that the ratio of all Depreciation for the Taxable Year in respect of Basis Adjustments resulting from all Exchanges by the Applicable Member bears to the aggregate of all Depreciation for the Taxable Year in respect of Basis Adjustments resulting from all Exchanges by the Applicable Members (in each case, other than with respect to the portion of the Basis Adjustment described in clause (ii)&nbsp;below).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; A portion of any Realized Tax Benefit arising from a deduction to the Corporate Taxpayer with respect to a Taxable Year for Depreciation arising in respect of a Basis Adjustment to a Reference Asset resulting from a payment hereunder is Attributable to the Applicable Member that receives such payment.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; A portion of any Realized Tax Benefit arising from the disposition of a Reference Asset is Attributable to the Applicable Member to the extent that the ratio of all Basis Adjustments (to the extent not previously taken into account in the calculation of Realized Tax Benefits) resulting from all Exchanges by the Applicable Member with respect</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2<a name="26867-3-NG-01_PB_2_090331_8146"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=5,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=274824,FOLIO='2',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 12:47 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">to such Reference Asset bears to the aggregate of all Basis Adjustments (to the extent not previously taken into account in the calculation of Realized Tax Benefits) with respect to such Reference Asset.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; A portion of any Realized Tax Benefit arising from a deduction to the Corporate Taxpayer with respect to a Taxable Year in respect of Imputed Interest is Attributable to the Applicable Member to the extent corresponding to amounts that such Member is required to include in income in respect of Imputed Interest (without regard to whether such Member is actually subject to tax thereon).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; For the avoidance of doubt, in the case of a Basis Adjustment arising under Section&nbsp;734(b)&nbsp;of the Code with respect to an Exchange, depreciation, amortization or other similar deductions for recovery of cost of basis shall constitute Depreciation only to the extent that such depreciation, amortization or other similar deductions may produce or increase a Realized Tax Benefit (and not to the extent that such depreciation, amortization or other similar deductions may be for the benefit of a Person other than the Corporate Taxpayer), as reasonably determined by the Corporate Taxpayer.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; A portion of any Realized Tax Benefit arising from a carryover or carryback of any Tax item is Attributable to such Member to the extent such carryover or carryback is attributable to or available for use because of the prior use of the Basis Adjustments or Imputed Interest with respect to which a Realized Tax Benefit would be Attributable to such Member pursuant to clauses (i)&#151;(v)&nbsp;above.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Portions of any Realized Tax Detriment shall be Attributed to Members under principles similar to those described in clauses (i)&#151;(vi)&nbsp;above.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Basis Adjustment</u>&#148; means the adjustment to the tax basis of a Reference Asset under Sections 732, 755 and 1012 of the Code and the Treasury Regulations promulgated thereunder (in situations where, as a result of one or more Exchanges, OpCo becomes an entity that is disregarded as separate from its owner for U.S. federal income tax purposes) or under Sections 734(b), 743(b)&nbsp;and 755 of the Code and the Treasury Regulations promulgated thereunder (in situations where, following an Exchange, OpCo remains in existence as an entity for U.S. federal income tax purposes) and, in each case, comparable sections of state and local tax laws, as a result of (i)&nbsp;an Exchange, (ii)&nbsp;the applicable Historical Transaction and (iii)&nbsp;the payments made pursuant to the Tax Receivable Agreements.&#160; For the avoidance of doubt, the amount of any Basis Adjustment resulting from an Exchange (other than a Basis Adjustment resulting from a Historical Transaction or a Merger) of one or more Common Units shall be determined without regard to any Pre-Exchange Transfer of such Common Units and as if any such Pre-Exchange Transfer had not occurred.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A &#147;<u>Beneficial Owner</u>&#148; of a security is a Person who directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise, has or shares: (i)&nbsp;voting power, which includes the power to vote, or to direct the voting of, such security and/or (ii)&nbsp;investment power, which includes the power to dispose of, or to direct the disposition of, such security.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3<a name="26867-3-NG-01_PB_3_090359_7091"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=6,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=652074,FOLIO='3',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 12:47 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Board</u>&#148; means the board of directors of the Corporate Taxpayer.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Business Day</u>&#148; shall have the meaning ascribed to such term in the LLC Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Change of Control</u>&#148; means the occurrence of any of the following events:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; any Person or any group of Persons acting together which would constitute a &#147;group&#148; for purposes of Section&nbsp;13(d)&nbsp;of the Securities and Exchange Act of 1934, or any successor provisions thereto, excluding (x)&nbsp;a corporation or other entity owned, directly or indirectly, by the stockholders of the Corporate Taxpayer in substantially the same proportions as their ownership of stock in the Corporate Taxpayer and (y)&nbsp;any Person that would be deemed an SL Member, Temasek Equityholder or Viola Member (as each such term is defined in the LLC Agreement, and assuming for this purpose that such Person owned Units or securities of the Corporate Taxpayer), is or becomes the Beneficial Owner, directly or indirectly, of securities of the Corporate Taxpayer representing more than 50% of the combined voting power of the Corporate Taxpayer&#146;s then outstanding voting securities; or</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the following individuals cease for any reason to constitute a majority of the number of directors of the Corporate Taxpayer then serving: individuals who, on the IPO Date, constitute the Board and any new director whose appointment or election by the Board or nomination for election by the Corporate Taxpayer&#146;s shareholders was approved or recommended by a vote of at least a majority of the directors then still in office who either were directors on the IPO Date or whose appointment, election or nomination for election was previously so approved or recommended by the directors referred to in this clause (ii); or</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; there is consummated a merger or consolidation of the Corporate Taxpayer with any other corporation or other entity, and, immediately after the consummation of such merger or consolidation, either (x)&nbsp;the Board immediately prior to the merger or consolidation does not constitute at least a majority of the board of directors of the company surviving the merger or, if the surviving company is a Subsidiary, the ultimate parent thereof, or (y)&nbsp;the voting securities of the Corporate Taxpayer immediately prior to such merger or consolidation do not continue to represent or are not converted into more than 50% of the combined voting power of the then outstanding voting securities of the Person resulting from such merger or consolidation or, if the surviving company is a Subsidiary, the ultimate parent thereof; or</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the shareholders of the Corporate Taxpayer approve a plan of complete liquidation or dissolution of the Corporate Taxpayer or there is consummated an agreement or series of related agreements for the sale or other disposition, directly or indirectly, by the Corporate Taxpayer of all or substantially all of the Corporate Taxpayer&#146;s assets, other than such sale or other disposition by the Corporate Taxpayer of all or substantially all of the Corporate Taxpayer&#146;s assets to an entity, at least 50% of the combined voting power of the voting securities of which are owned by shareholders of the Corporate Taxpayer in substantially the same proportions as their ownership of the Corporate Taxpayer immediately prior to such sale.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4<a name="26867-3-NG-01_PB_4_090416_455"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=7,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=992209,FOLIO='4',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 12:47 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notwithstanding the foregoing, except with respect to clause (ii)&nbsp;and clause (iii)(x)&nbsp;above, a &#147;Change of Control&#148; shall not be deemed to have occurred by virtue of the consummation of any transaction or series of integrated transactions immediately following which the record holders of the shares of the Corporate Taxpayer immediately prior to such transaction or series of transactions continue to have substantially the same proportionate ownership in, and own substantially all of the shares of, an entity which owns all or substantially all of the assets of the Corporate Taxpayer immediately following such transaction or series of transactions.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Control</u>&#148; means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Corporate Taxpayer Return</u>&#148; means the federal and/or state and/or local Tax Return, as applicable, of the Corporate Taxpayer filed with respect to Taxes of any Taxable Year.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Cumulative Net Realized Tax Benefit</u>&#148; for a Taxable Year means the cumulative amount of Realized Tax Benefits for all Taxable Years of the Corporate Taxpayer, up to and including such Taxable Year, net of the cumulative amount of Realized Tax Detriments for the same period.&#160; The Realized Tax Benefit and Realized Tax Detriment for each Taxable Year shall be determined based on the most recent Tax Benefit Schedule or Amended Schedule, if any, in existence at the time of such determination.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Default Rate</u>&#148; means LIBOR plus 500 basis points.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Determination</u>&#148; shall have the meaning ascribed to such term in Section&nbsp;1313(a)&nbsp;of the Code or similar provision of state and local tax law, as applicable, or any other event (including the execution of IRS Form&nbsp;870-AD) that finally and conclusively establishes the amount of any liability for Tax and shall also include the acquiescence of the Corporate Taxpayer to the amount of any assessed liability for Tax.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Early Termination Date</u>&#148; means the date of an Early Termination Notice for purposes of determining the Early Termination Payment.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Early Termination Rate</u>&#148; means the lesser of (i)&nbsp;6.5% per annum, compounded annually, and (ii)&nbsp;LIBOR plus 100 basis points.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Exchange</u>&#148; means an acquisition of Common Units or a purchase of Common Units (i)&nbsp;by OpCo or the Corporate Taxpayer, including by way of an exchange of stock of the Corporate Taxpayer for Common Units pursuant to the Exchange Agreement, in each case occurring on or after the date of this Agreement or (ii)&nbsp;pursuant to the Merger (as defined in Tax Receivable Agreement (Mergers). Any reference in this Agreement to Common Units &#147;<u>Exchanged</u>&#148; is intended to denote Common Units subject to an Exchange.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Exchange Agreement</u>&#148; means that certain Exchange Agreement, dated as of the date hereof, by and among the Corporate Taxpayer, OpCo, and the other holders of Common</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5<a name="26867-3-NG-01_PB_5_090441_4141"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=8,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=1012711,FOLIO='5',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 12:47 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Units and shares of Class&nbsp;C Common Stock and Class&nbsp;D common stock, $0.00001 par value per share, of the Corporate Taxpayer, from time to time party thereto.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Governmental Authority</u>&#148; has the meaning set forth in the LLC Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Historical Transaction</u>&#148; means (i)&nbsp;in the case of the SLP/Temasek Blocker, the indirect acquisition of interests in OpCo by the SLP/Temasek Blocker pursuant to the Transaction and Merger Agreement dated as of April&nbsp;17, 2011 among OpCo and the other parties thereto and (ii)&nbsp;in the case of the Temasek Blocker, the acquisition of interests in OpCo by the Temasek Blocker pursuant to the Equity Redemption and Purchase Agreement dated as of December&nbsp;7, 2014 among the Temasek Blocker, the Temasek Stockholder, the SLP Stockholder and the other parties thereto.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Hypothetical Tax Liability</u>&#148; means, with respect to any Taxable Year, the liability for Taxes of (i)&nbsp;the Corporate Taxpayer and (ii)&nbsp;without duplication, OpCo, but only with respect to Taxes imposed on OpCo and allocable to the Corporate Taxpayer (or to the other members of the consolidated group of which the Corporate Taxpayer is the parent), in each case using the same methods, elections, conventions and similar practices used on the relevant Corporate Taxpayer Return, but (w)&nbsp;using the Non-Stepped Up Tax Basis (as defined in each of the Tax Receivable Agreements) as reflected on the Exchange Basis Schedule, the Exchange Basis Schedule (as defined in the Tax Receivable Agreement (SLP Exchanges)) and the Merger Basis Schedule (as defined in the Tax Receivable Agreement (Mergers)), including amendments thereto for the Taxable Year, (x)&nbsp;without taking into account the use of NOLs, if any, (y)&nbsp;excluding any deduction attributable to Imputed Interest for the Taxable Year, and (z)&nbsp;without taking into account the carryover or carryback of any Tax item (or portions thereof) that is attributable to or (without duplication) available for use because of the prior use of any of the Basis Adjustments, NOLs or Imputer Interest.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Imputed Interest</u>&#148; shall mean any interest imputed under Section&nbsp;1272, 1274 or 483 or other provision of the Code and any similar provision of state and local tax law with respect to the Corporate Taxpayer&#146;s payment obligations under this Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>IPO</u>&#148; means the initial public offering of Class&nbsp;A Common Stock of the Corporate Taxpayer.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>IPO Date</u>&#148; means the closing date of the IPO.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>IRS</u>&#148; means the U.S. Internal Revenue Service.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>LIBOR</u>&#148; means during any period, an interest rate per annum equal to the one-year LIBOR reported, on the date two days prior to the first day of such period, on the Telerate Page&nbsp;3750 (or if such screen shall cease to be publicly available, as reported on Reuters Screen page&nbsp;&#147;LIBOR01&#148; or by any other publicly available source of such market rate) for London interbank offered rates for United States dollar deposits for such period.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>LLC Agreement</u>&#148; means the Second Amended and Restated Limited Liability Company Agreement of OpCo, dated as of the date hereof.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6<a name="26867-3-NG-01_PB_6_090514_8627"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=9,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=931078,FOLIO='6',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 12:47 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Market Value</u>&#148; shall mean the closing price of the Class&nbsp;A Common Stock on the applicable Exchange Date on the national securities exchange or interdealer quotation system on which such Class&nbsp;A Common Stock is then traded or listed, as reported by the <i>Wall Street Journal</i>; <u>provided</u>, that if the closing price is not reported by the <i>Wall Street Journal</i> for the applicable Exchange Date, then the Market Value shall mean the closing price of the Class&nbsp;A Common Stock on the Business Day immediately preceding such Exchange Date on the national securities exchange or interdealer quotation system on which such Class&nbsp;A Common Stock is then traded or listed, as reported by the <i>Wall Street Journal</i>; <u>provided</u>, <u>further</u>, that if the Class&nbsp;A Common Stock is not then listed on a national securities exchange or interdealer quotation system, the Market Value shall mean the cash consideration paid for Class&nbsp;A Common Stock, or the fair market value of the other property delivered for Class&nbsp;A Common Stock, as determined by the Board in good faith.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Member Purchase Agreement</u>&#148; means that certain Purchase Agreement, dated as of the date hereof, by and among the Corporate Taxpayer, OpCo, and the other holders of Common Units and shares of Class&nbsp;C Common Stock.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Merger</u>&#148; shall have the meaning ascribed to such term in the Tax Receivable Agreement (Mergers).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>NOLs</u>&#148; shall have the meaning ascribed to such term in the Tax Receivable Agreement (Mergers).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Non-Stepped Up Tax Basis</u>&#148; means, with respect to any Reference Asset at any time, the Tax basis that such asset would have had at such time if no Basis Adjustments had been made.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Other Tax Receivable Agreements</u>&#148; means the Tax Receivable Agreement (SLP Exchanges) and the Tax Receivable Agreement (Mergers).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Payment Date</u>&#148; means any date on which a payment is required to be made pursuant to this Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Person</u>&#148; means any individual, corporation, firm, partnership, joint venture, limited liability company, estate, trust, business association, organization, governmental entity or other entity.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Pre-Exchange Transfer</u>&#148; means any transfer or distribution in respect of one or more Common Units (i)&nbsp;that occurs prior to an Exchange of such Common Units, and (ii)&nbsp;to which Section&nbsp;743(b)&nbsp;or 734(b)&nbsp;of the Code applies.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Realized Tax Benefit</u>&#148; means, for a Taxable Year, the excess, if any, of the Hypothetical Tax Liability over the actual liability for Taxes of (i)&nbsp;the Corporate Taxpayer and (ii)&nbsp;without duplication, OpCo, but only with respect to Taxes imposed on OpCo and allocable to the Corporate Taxpayer (or to the other members of the consolidated group of which the Corporate Taxpayer is the parent) for such Taxable Year.&nbsp; If all or a portion of the actual liability for such Taxes for the Taxable Year arises as a result of an audit by a Taxing Authority of any Taxable Year, such liability shall not be included in determining the Realized Tax Benefit unless and until there has been a Determination.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7<a name="26867-3-NG-01_PB_7_090537_7906"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=10,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=655990,FOLIO='7',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 12:47 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Realized Tax Detriment</u>&#148; means, for a Taxable Year, the excess, if any, of the actual liability for Taxes of (i)&nbsp;the Corporate Taxpayer and (ii)&nbsp;without duplication, OpCo, but only with respect to Taxes imposed on OpCo and allocable to the Corporate Taxpayer (or to the other members of the consolidated group of which the Corporate Taxpayer is the parent) for such Taxable Year, over the Hypothetical Tax Liability for such Taxable Year. &nbsp;If all or a portion of the actual liability for such Taxes for the Taxable Year arises as a result of an audit by a Taxing Authority of any Taxable Year, such liability shall not be included in determining the Realized Tax Detriment unless and until there has been a Determination.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Reference Asset</u>&#148; means an asset that is held by OpCo, or by any of its direct or indirect subsidiaries treated as a partnership or disregarded entity for purposes of the applicable Tax, at the time of an Exchange.&#160; A Reference Asset also includes any asset that is &#147;substituted basis property&#148; under Section&nbsp;7701(a)(42) of the Code with respect to a Reference Asset.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Schedule</u>&#148; means any of the following: (i)&nbsp;an Exchange Basis Schedule, (ii)&nbsp;a Tax Benefit Schedule, or (iii)&nbsp;the Early Termination Schedule.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>SLP/Temasek Blocker</u>&#148; means SLP III EW Feeder LLC (f/k/a SLP III EW Feeder Corp.), a Delaware limited liability company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>SLP Stockholder</u>&#148; means SLP III EW Feeder I, L.P., a Delaware limited partnership.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Subsidiaries</u>&#148; shall have the meaning ascribed to such term in the LLC Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Tax Receivable Agreement (SLP Exchanges)</u>&#148; means the Tax Receivable Agreement (SLP Exchanges), dated as of the date hereof, by and among the Corporate Taxpayer, and certain members of OpCo as of the date hereof (other than those members that are party to the Tax Receivable Agreement (Mergers), the Corporate Taxpayer, Virtu Sub III and Virtu Sub IV).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Tax Receivable Agreement (Mergers)</u>&#148; means the Tax Receivable Agreement (Mergers), dated as of the date hereof, by and among the Corporate Taxpayer, the SLP/Temasek Blocker, the Temasek Blocker, the SLP Stockholder, and the Temasek Stockholder.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Tax Receivable Agreements</u>&#148; means the Other Tax Receivable Agreements and this Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Tax Return</u>&#148; means any return, declaration, report or similar statement required to be filed with respect to Taxes (including any attached schedules), including any information return, claim for refund, amended return and declaration of estimated Tax.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Taxable Year</u>&#148; means a taxable year of the Corporate Taxpayer as defined in Section&nbsp;441(b)&nbsp;of the Code or comparable section of state or local tax law, as applicable (and, therefore, for the avoidance of doubt, may include a period of less than 12 months for which a Tax Return is made), ending on or after the IPO Date.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8<a name="26867-3-NG-01_PB_8_090700_3736"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=11,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=199481,FOLIO='8',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 12:47 2015' -->

<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Taxes</u>&#148; means any and all U.S. federal, state and local taxes, assessments or similar charges that are based on or measured with respect to net income or profits, and any interest related to such Tax.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Taxing Authority</u>&#148; shall mean any domestic, federal, national, state, county or municipal or other local government, any subdivision, agency, commission or authority thereof, or any quasi-governmental body exercising any taxing authority or any other authority exercising Tax regulatory authority.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Temasek Blocker</u>&#148; means Wilbur Investments LLC, a Delaware limited liability company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Temasek Stockholder</u>&#148; means Havelock Fund Investments Pte Ltd., a Singapore private limited company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Treasury Regulations</u>&#148; means the final, temporary and proposed regulations under the Code promulgated from time to time (including corresponding provisions and succeeding provisions) as in effect for the relevant taxable period.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Valuation Assumptions</u>&#148; shall mean, as of an Early Termination Date, the assumptions that (1)&nbsp;in each Taxable Year ending on or after such Early Termination Date, the Corporate Taxpayer will have taxable income sufficient to fully utilize the deductions arising from the Basis Adjustments and Imputed Interest during such Taxable Year or future Taxable Years (including, for the avoidance of doubt, Basis Adjustments and Imputed Interest that would result from future Tax Benefit Payments that would be paid in accordance with the Valuation Assumptions) in which such deductions would become available, (2)&nbsp;the U.S. federal income tax rates and state and local income tax rates that will be in effect for each such Taxable Year will be those specified for each such Taxable Year by the Code and other law as in effect on the Early Termination Date, (3)&nbsp;any loss carryovers generated by deductions arising from Basis Adjustments, the NOLs or Imputed Interest that are available as of such Early Termination Date will be utilized by the Corporate Taxpayer on a pro rata basis from the Early Termination Date through the scheduled expiration date of such loss carryovers, (4)&nbsp;any non-amortizable assets will be disposed of on the fifteenth anniversary of the applicable Basis Adjustment; <u>provided</u>, that in the event of a Change of Control, such non-amortizable assets shall be deemed disposed of at the time of sale of the relevant asset (if earlier than such fifteenth anniversary), and (5)&nbsp;if, at the Early Termination Date, there are Common Units that have not been Exchanged, then each such Common Unit shall be deemed to be Exchanged for the Market Value of the number of shares of Class&nbsp;A Common Stock and the amount of cash that would be transferred if the Exchange occurred on the Early Termination Date.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Each of the following terms is defined in the Section&nbsp;set forth opposite such term:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="73%" style="border-collapse:collapse;margin-left:1.0in;width:73.34%;">
<tr>
<td width="62%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Term</font></b></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.1%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="33%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:33.9%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Section</font></b></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Agreement</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amended   Schedule</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.03(b)</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Class&nbsp;A   Common Stock</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9<a name="26867-3-NG-03_PB_9_090921_9621"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=12,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=965083,FOLIO='9',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:33 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="73%" style="border-collapse:collapse;margin-left:1.0in;width:73.34%;">
<tr>
<td width="62%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Term</font></b></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.1%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="33%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:33.9%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Section</font></b></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Class&nbsp;C   Common Stock</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Code</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Common   Units</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Corporate   Taxpayer</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dispute</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.03(a)</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Early   Termination Effective Date</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.02</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Early   Termination Notice</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.02</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Early   Termination Payment</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.03(b)</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Early   Termination Schedule</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.02</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">e-mail</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.01</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exchange   Basis Schedule</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.01</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exchange   Date</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Expert</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.09</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interest   Amount</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.01(b)</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Material   Objection Notice</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.02</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Members</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net   Tax Benefit</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.01(b)</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Objection   Notice</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.03(a)</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">OpCo</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Reconciliation   Dispute</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.09</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Reconciliation   Procedures</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.03(a)</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Senior   Obligations</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.01</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Tax   Benefit Payment</font></p>    </td>
<td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.01(b)</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Tax   Benefit Schedule</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.1%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.02(a)</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Other Definitional and Interpretative Provisions</font></u><font size="2" style="font-size:10.0pt;">.&#160; The words &#147;hereof&#148;, &#147;herein&#148; and &#147;hereunder&#148; and words of like import used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement.&#160; The captions herein are included for convenience of reference only and shall be ignored in the construction or interpretation hereof.&#160; References to Articles and Sections are to Articles and Sections of this Agreement unless otherwise specified.&#160; Any singular term in this Agreement shall be deemed to include the plural, and any plural term the singular.&#160; Whenever the words &#147;include&#148;, &#147;includes&#148; or &#147;including&#148; are used in this Agreement, they shall be deemed to be followed by the words &#147;without limitation&#148;, whether or not they are in fact followed by those words or words of like import.&#160; &#147;Writing&#148;, &#147;written&#148; and comparable terms refer to printing, typing and other means of reproducing words (including electronic media) in a visible form.&#160; References to any statute shall be deemed to refer to such statute as amended from time to time and to any rules&nbsp;or regulations promulgated thereunder.&#160; References to any agreement or contract are to that agreement or contract as amended, modified or supplemented from time to time in accordance with the terms hereof and thereof.&#160; References to any Person include the successors and permitted assigns of that Person.&#160; References from or through any date mean, unless otherwise specified, from and including or through and including, respectively.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10<a name="26867-3-NG-03_PB_10_090951_8715"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=13,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=207482,FOLIO='10',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:33 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;II</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">DETERMINATION OF REALIZED TAX BENEFIT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Basis Adjustment</font></u><font size="2" style="font-size:10.0pt;">.&#160; Within 120 calendar days after the filing of the U.S. federal income tax return of the Corporate Taxpayer for each Taxable Year in which any Exchange has been effected by any Member, the Corporate Taxpayer shall deliver to such Member a schedule (the &#147;<u>Exchange Basis Schedule</u>&#148;) that shows, in reasonable detail necessary to perform the calculations required by this Agreement, including with respect to each Exchanging party, (i)&nbsp;the Non-Stepped Up Tax Basis of the Reference Assets as of each applicable Exchange Date, (ii)&nbsp;the Basis Adjustments with respect to the Reference Assets as a result of the Exchanges effected in such Taxable Year, calculated (x)&nbsp;in the aggregate, (y)&nbsp;solely with respect to Exchanges by such Member and (z)&nbsp;in the case of a Basis Adjustment under Section&nbsp;734(b)&nbsp;of the Code solely with respect to the amount that is available to the Corporate Taxpayer in such Taxable Year, (iii)&nbsp;the period (or periods) over which the Reference Assets are amortizable and/or depreciable and (iv)&nbsp;the period (or periods) over which each Basis Adjustment is amortizable and/or depreciable.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Realized Tax Benefit and Realized Tax Detriment</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Tax Benefit Schedule</font></u><font size="2" style="font-size:10.0pt;">.&#160; Within 120 calendar days after the filing of the U.S. federal income tax return of the Corporate Taxpayer for any Taxable Year in which there is a Realized Tax Benefit or Realized Tax Detriment a portion of which is Attributable to a Member, the Corporate Taxpayer shall provide to such Member a schedule showing, in reasonable detail and, at the request of such Member, with respect to each separate Exchange, the calculation of the Realized Tax Benefit or Realized Tax Detriment and the portion Attributable to such Member for such Taxable Year (a &#147;<u>Tax Benefit Schedule</u>&#148;).&#160; The Tax Benefit Schedule will become final as provided in Section&nbsp;2.03(a)&nbsp;and may be amended as provided in Section&nbsp;2.03(b)&nbsp;(subject to the procedures set forth in Section&nbsp;2.03(b)).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Applicable Principles</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Realized Tax Benefit or Realized Tax Detriment for each Taxable Year is intended to measure the decrease or increase in the actual liability for Taxes of the Corporate Taxpayer for such Taxable Year attributable to the Basis Adjustments, the NOLs and Imputed Interest, determined using a &#147;with and without&#148; methodology.&#160; For the avoidance of doubt, the actual liability for Taxes will take into account the deduction of the portion of the Tax Benefit Payment that must be accounted for as interest under the Code based upon the characterization of Tax Benefit Payments as additional consideration payable by the Corporate Taxpayer for the Common Units acquired in an Exchange.&#160; Carryovers or carrybacks of any Tax item attributable to the Basis Adjustment, the NOLs or Imputed Interest shall be considered to be subject to the rules&nbsp;of the Code and the Treasury Regulations or the appropriate provisions of U.S. state and local income and franchise tax law, as applicable, governing the use, limitation and expiration of carryovers or carrybacks of the relevant type.&#160; If a carryover or carryback of any Tax item includes a portion that is attributable to the Basis Adjustment, the NOLs or Imputed Interest and another portion that is not, such portions shall be considered to be used in accordance with the &#147;with and without&#148; methodology.&#160; The parties agree that (i)&nbsp;all Tax Benefit Payments attributable to the Basis Adjustments (other than amounts accounted for as interest under the Code) will (A)&nbsp;be treated as subsequent upward purchase</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11<a name="26867-3-NG-03_PB_11_091039_563"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=14,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=848937,FOLIO='11',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:33 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">price adjustments that give rise to further Basis Adjustments to Reference Assets for the Corporate Taxpayer and (B)&nbsp;have the effect of creating additional Basis Adjustments to Reference Assets for the Corporate Taxpayer in the year of payment, and (ii)&nbsp;as a result, such additional Basis Adjustments will be incorporated into the current year calculation and into future year calculations, as appropriate.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Procedures, Amendments</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Procedure</font></u><font size="2" style="font-size:10.0pt;">.&#160; Every time the Corporate Taxpayer delivers to a Member an applicable Schedule under this Agreement, including any Amended Schedule delivered pursuant to Section&nbsp;2.03(b)&nbsp;and any Early Termination Schedule or amended Early Termination Schedule, the Corporate Taxpayer shall also (x)&nbsp;deliver to such Member schedules, valuation reports (if any), and work papers, as determined by the Corporate Taxpayer or requested by such Member, providing reasonable detail regarding the preparation of the Schedule and (y)&nbsp;allow such Member reasonable access at no cost to the appropriate representatives at the Corporate Taxpayer, as determined by the Corporate Taxpayer or requested by such Member, in connection with a review of such Schedule.&#160; Without limiting the application of the preceding sentence, each time the Corporate Taxpayer delivers to a Member a Tax Benefit Schedule, in addition to the Tax Benefit Schedule duly completed, the Corporate Taxpayer shall deliver to such Member the Corporate Taxpayer Return, the reasonably detailed calculation by the Corporate Taxpayer of the Hypothetical Tax Liability, the reasonably detailed calculation by the Corporate Taxpayer of the actual Tax liability, as well as any other work papers as determined by the Corporate Taxpayer or requested by such Member.&#160; An applicable Schedule or amendment thereto shall become final and binding on all parties 30 calendar days from the first date on which the Member has received the applicable Schedule or amendment thereto unless such Member (i)&nbsp;within 30 calendar days after receiving an applicable Schedule or amendment thereto, provides the Corporate Taxpayer with notice of a material objection to such Schedule (&#147;<u>Objection Notice</u>&#148;) made in good faith or (ii)&nbsp;provides a written waiver of such right of any Objection Notice within the period described in clause (i)&nbsp;above, in which case such Schedule or amendment thereto becomes binding on the date the waiver is received by the Corporate Taxpayer.&#160; If the parties, for any reason, are unable to successfully resolve the issues raised in the Objection Notice within 30 calendar days after receipt by the Corporate Taxpayer of an Objection Notice, the Corporate Taxpayer and the applicable Member shall employ the reconciliation procedures as described in Section&nbsp;7.09 (the &#147;<u>Reconciliation Procedures</u>&#148;).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Amended Schedule</font></u><font size="2" style="font-size:10.0pt;">.&#160; The applicable Schedule for any Taxable Year may be amended from time to time by the Corporate Taxpayer (i)&nbsp;in connection with a Determination affecting such Schedule, (ii)&nbsp;to correct inaccuracies in the Schedule identified as a result of the receipt of additional factual information relating to a Taxable Year after the date the Schedule was provided to the applicable Member, (iii)&nbsp;to comply with (A)&nbsp;the Expert&#146;s determination under the Reconciliation Procedures or (B)&nbsp;an Expert&#146;s determination under the reconciliation procedures applicable to the Other Tax Receivable Agreements, (iv)&nbsp;to reflect a change in the Realized Tax Benefit or Realized Tax Detriment for such Taxable Year attributable to a carryback or carryforward of a loss or other tax item to such Taxable Year, (v)&nbsp;to reflect a change in the Realized Tax Benefit or Realized Tax Detriment for such Taxable Year attributable to an amended Tax Return filed for such Taxable Year, or (vi)&nbsp;to adjust the Exchange Basis Schedule to take into account payments made pursuant to this Agreement (any such Schedule, an</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12<a name="26867-3-NG-03_PB_12_091200_9497"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=15,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=592184,FOLIO='12',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:33 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Amended Schedule</u>&#148;).&#160; The Corporate Taxpayer shall provide an Amended Schedule to each Member within 30 calendar days of the occurrence of an event referenced in clauses (i)&nbsp;through (vi)&nbsp;of the preceding sentence.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;III</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">TAX BENEFIT PAYMENTS</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Payments</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Within five (5)&nbsp;Business Days after all of the Tax Benefit Schedules (as defined in each of the Tax Receivable Agreements) with respect to a Taxable Year delivered to (i)&nbsp;a Member pursuant to this Agreement and (ii)&nbsp;any Persons who could, under the Other Tax Receivable Agreements, be entitled to Tax Benefit Payments become final in accordance with Section&nbsp;2.03(a)&nbsp;and Section&nbsp;2.03(a)&nbsp;of the Other Tax Receivable Agreements, the Corporate Taxpayer shall pay to each Member for such Taxable Year the Tax Benefit Payment in the amount determined pursuant to Section&nbsp;3.01(b).&nbsp; Each such Tax Benefit Payment to a Member shall be made by wire transfer of immediately available funds to the bank account previously designated by such Member to the Corporate Taxpayer or as otherwise agreed by the Corporate Taxpayer and such Member.&nbsp; For the avoidance of doubt, no Tax Benefit Payment shall be made in respect of estimated tax payments, including federal estimated income tax payments.&#160; Notwithstanding any provision of this Agreement to the contrary, any Member may elect with respect to any Exchange to limit the aggregate Tax Benefit Payments made to such Member in respect of any such Exchange to a specified percentage of the amount equal to the sum of (A)&nbsp;the cash, excluding any Tax Benefit Payments, and (B)&nbsp;the Market Value of the Class&nbsp;A Shares, received by such Member on such Exchange (or such other limitation selected by the Member and consented to by the Corporate Taxpayer, which consent shall not be unreasonably withheld).&#160; The Member shall exercise its rights under the preceding sentence by notifying the Corporate Taxpayer in writing of its desire to impose such a limit and the specified percentage (or such other limitation selected by the Member) and such other details as may be necessary (including whether such limit includes the Imputed Interest in respect of any such Exchange) in such manner and at such time (but in no event later than the date of any such Exchange) as reasonably directed by the Corporate Taxpayer; provided, however, that, in the absence of such direction, the Member shall give such written notice in the same manner as is required by Section&nbsp;7.01 of this Agreement contemporaneously with Member&#146;s notice to the Corporate Taxpayer of the applicable Exchange.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">A &#147;<u>Tax Benefit Payment</u>&#148; means, with respect to a Member, an amount, not less than zero, equal to the sum of the amount of the Net Tax Benefit Attributable to such Member and the related Interest Amount.&nbsp; For the avoidance of doubt, for Tax purposes, the Interest Amount shall not be treated as interest but instead shall be treated as additional consideration for the acquisition of Common Units in Exchanges, unless otherwise required by law.&#160; Subject to Section&nbsp;3.03(a), the &#147;<u>Net Tax Benefit</u>&#148; for a Taxable Year shall be an amount equal to the excess, if any, of 85% of the Cumulative Net Realized Tax Benefit as of the end of such Taxable Year over the sum of (i)&nbsp;the total amount of Tax Benefit Payments previously made under this Section&nbsp;3.01 (excluding payments attributable to Interest Amounts) and (ii)&nbsp;the total amount of Tax Benefit Payments (as defined in the Other Tax Receivable Agreements) previously made under Section&nbsp;3.01 of the Other Tax Receivable Agreements (excluding payments attributable to Interest Amounts (as defined in the Other Tax Receivable Agreements)); <u>provided</u>, for the avoidance of doubt, that such Member shall not be required to return any portion of any previously made Tax Benefit Payment.&#160; The &#147;<u>Interest Amount</u>&#148; shall equal the interest on the amount of the Net Tax Benefit Attributable to such Member calculated at the Agreed Rate from the due date (without extensions) for filing the Corporate Taxpayer Return with respect to Taxes for such Taxable Year until the Payment Date of the applicable Tax Benefit Payment.&#160; Notwithstanding the foregoing, unless the Member elects to receive the lump-sum payment pursuant to the following sentence, for each Taxable Year ending on or after the</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13<a name="26867-3-NG-03_PB_13_091251_3641"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=16,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=249668,FOLIO='13',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:33 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">date of a Change of Control, all Tax Benefit Payments, whether paid with respect to the Common Units that were Exchanged (i)&nbsp;prior to the date of such Change of Control or (ii)&nbsp;on or after the date of such Change of Control, shall be calculated by utilizing Valuation Assumptions (1)&nbsp;and (3), substituting in each case the terms &#147;the closing date of a Change of Control&#148; for an &#147;Early Termination Date.&#148;&#160; In connection with any Change of Control (other than a Change of Control caused solely by the electing Member), at the election of a Member, all obligations hereunder with respect to such Member shall be accelerated and such obligations shall be calculated as if an Early Termination Notice had been delivered on the date of such election and shall include, but not be limited to, (1)&nbsp;the Early Termination Payment to such Member calculated as if an Early Termination Notice had been delivered on the date of such election, (2)&nbsp;any Tax Benefit Payment agreed to by the Corporate Taxpayer and such Member as due and payable but unpaid as of the date of such Member&#146;s election, and (3)&nbsp;any Tax Benefit Payment due for the Taxable Year ending with or including the date of such Member&#146;s election; <u>provided</u>, that procedures similar to the procedures of Section&nbsp;4.02 shall apply with respect to the determination of the amount payable by the Corporate Taxpayer pursuant to this sentence.&#160; Notwithstanding anything to the contrary in this Agreement, after any lump-sum payment under this Section&nbsp;3.01(b)&nbsp;or Article&nbsp;IV or Section&nbsp;3.01(b)&nbsp;or Article&nbsp;IV of the other Tax Receivable Agreements in respect of present or future Tax attributes subject to the Tax Receivable Agreements, the Tax Benefit Payment, Net Tax Benefit and components thereof shall be calculated without taking into account any such attributes or any such lump-sum payment.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">No Duplicative Payments</font></u><font size="2" style="font-size:10.0pt;">.&#160; It is intended that the provisions of this Agreement will not result in duplicative payment of any amount (including interest) required under this Agreement.&nbsp; In addition, it is intended that the provisions of this Agreement will not result in a duplicative payment of any amount payable under the Other Tax Receivable Agreements. The provisions of this Agreement shall be construed in the appropriate manner to ensure such intentions are realized.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Pro Rata Payments; Coordination of Benefits With Other Tax Receivable Agreements</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Notwithstanding anything in Section&nbsp;3.01 to the contrary, to the extent that the aggregate tax benefit of the Corporate Taxpayer&#146;s reduction in Tax liability as a result of the Basis Adjustments, the NOLs and Imputed Interest under the Tax Receivable Agreements (as such terms are defined in each Tax Receivable Agreement) is limited in a particular Taxable Year because the Corporate Taxpayer does not have sufficient taxable income to fully utilize available deductions and other attributes, the limitation on the tax benefit for the Corporate Taxpayer shall be allocated among the Tax Receivable Agreements (and among all parties eligible for payments thereunder) in proportion to the respective amounts of Tax Benefit Payments (as defined in each Tax Receivable Agreement) that would have been determined under the Tax Receivable Agreements (and allocated among such parties) if the Corporate Taxpayer had sufficient taxable income so that there were no such limitation.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">After taking into account Section&nbsp;3.03(a), if for any reason the Corporate Taxpayer does not fully satisfy its payment obligations to make all Tax Benefit Payments due under the Tax Receivable Agreements in respect of a particular Taxable Year, then the Corporate Taxpayer and the Members agree that (i)&nbsp;the Corporate Taxpayer shall pay the same proportion of each Tax </font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14<a name="26867-3-NG-03_PB_14_091421_5250"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=17,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=496979,FOLIO='14',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:33 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Benefit Payment due under each of the Tax Receivable Agreements in respect of such Taxable Year, without favoring one obligation over the other, and (ii)&nbsp;no Tax Benefit Payment shall be made in respect of any Taxable Year until all Tax Benefit Payments in respect of prior Taxable Years have been made in full.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The parties hereto agree that the parties to the Other Tax Receivable Agreements are expressly made third party beneficiaries of the provisions of this Section&nbsp;3.03.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;IV</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">TERMINATION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;4.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Termination, Early Termination and Breach of Agreement</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Unless terminated earlier pursuant to Section&nbsp;4.01(b)&nbsp;or Section&nbsp;4.01(c), this Agreement will terminate when there is no further potential for a Tax Benefit Payment pursuant to this Agreement. Tax Benefit Payments under this Agreement are not conditioned on any Member retaining an interest in the Corporate Taxpayer or OpCo (or any successor thereto).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Corporate Taxpayer may terminate this Agreement with respect to all amounts payable to the Members and with respect to all of the Common Units held (or previously held and exchanged) by all Members at any time by paying to each Member the Early Termination Payment in respect of such Member; <u>provided</u>, <u>however</u>, that this Agreement shall only terminate pursuant to this Section&nbsp;4.01(b)&nbsp;upon the receipt of the Early Termination Payment by all Members; and <u>provided</u>, <u>further</u>, that the Corporate Taxpayer may withdraw any notice to execute its termination rights under this Section&nbsp;4.01(b)&nbsp;prior to the time at which any Early Termination Payment has been paid.&nbsp; Upon payment of the Early Termination Payment by the Corporate Taxpayer in accordance with this Section&nbsp;4.01(b), neither the Members nor the Corporate Taxpayer shall have any further payment obligations under this Agreement, other than for any (1)&nbsp;Tax Benefit Payment agreed to by the Corporate Taxpayer and a Member as due and payable but unpaid as of the Early Termination Notice and (2)&nbsp;Tax Benefit Payment due for the Taxable Year ending with or including the date of the Early Termination Notice (except to the extent that the amount described in clause (2)&nbsp;is included in the Early Termination Payment).&nbsp; If an Exchange occurs after the Corporate Taxpayer makes the Early Termination Payment pursuant to this Section&nbsp;4.01(b), the Corporate Taxpayer shall have no obligations under this Agreement with respect to such Exchange. If the Corporate Taxpayer terminates, or proposes to terminate, the Tax Receivable Agreement (SLP Exchanges) by making, or proposing to make, the Early Termination Payment to the Members under such agreement, then each Member that is a party to this Agreement shall have the right to cause the Corporate Taxpayer to make an Early Termination Payment to such Member under this Agreement; provided that the procedures of this Article&nbsp;IV shall apply to such Early Termination Payment as if the Corporate Taxpayer had delivered an Early Termination Notice to such electing Members; provided further that a Member may elect to receive an Early Termination Payment pursuant to this sentence notwithstanding the fact that not all Members under this Agreement elect to receive such a payment.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15<a name="26867-3-NG-03_PB_15_091448_7672"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=18,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=979477,FOLIO='15',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:33 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">In the event that the Corporate Taxpayer breaches any of its material obligations under this Agreement, whether as a result of failure to make any payment when due, failure to honor any other material obligation required hereunder or by operation of law as a result of the rejection of this Agreement in a case commenced under the Bankruptcy Code or otherwise, then all obligations hereunder shall be accelerated and such obligations shall be calculated as if an Early Termination Notice had been delivered on the date of such breach and shall include, but not be limited to, (1)&nbsp;the Early Termination Payment calculated as if an Early Termination Notice had been delivered on the date of a breach, (2)&nbsp;any Tax Benefit Payment agreed to by the Corporate Taxpayer and any Members as due and payable but unpaid as of the date of a breach, and (3)&nbsp;any Tax Benefit Payment due for the Taxable Year ending with or including the date of a breach; provided that procedures similar to the procedures of Section&nbsp;4.02 shall apply with respect to the determination of the amount payable by the Corporate Taxpayer pursuant to this sentence.&nbsp; Notwithstanding the foregoing, in the event that the Corporate Taxpayer breaches this Agreement, the Members shall be entitled to elect to receive the amounts set forth in clauses (1), (2)&nbsp;and (3)&nbsp;above or to seek specific performance of the terms hereof.&nbsp; The parties agree that the failure to make any payment due pursuant to this Agreement within three months of the date such payment is due shall be deemed to be a breach of a material obligation under this Agreement for all purposes of this Agreement, and that it will not be considered to be a breach of a material obligation under this Agreement to make a payment due pursuant to this Agreement within three months of the date such payment is due. Notwithstanding anything in this Agreement to the contrary, it shall not be a breach of this Agreement if the Corporate Taxpayer fails to make any payment due pursuant to this Agreement when due to the extent the Corporate Taxpayer has insufficient funds to make such payment; <u>provided</u> that the interest provisions of Section&nbsp;5.02 shall apply to such late payment (unless the Corporate Taxpayer does not have sufficient cash to make such payment as a result of limitations imposed by credit agreements to which the Corporate Taxpayer or its Subsidiaries is a party, in which case Section&nbsp;5.02 shall apply, but the Default Rate shall be replaced by the Agreed Rate); <u>provided</u>, <u>further</u>, that the Corporate Taxpayer shall promptly (and in any event, within two (2)&nbsp;Business Days), pay all such unpaid payments, together with accrued and unpaid interest thereon, immediately following such time that the Corporate Taxpayer has, and to the extent the Corporate Taxpayer has, sufficient funds to make such payment, and the failure of the Corporate Taxpayer to do so shall constitute a breach of this Agreement.&#160; For the avoidance of doubt, all cash and cash equivalents used or to be used to pay dividends by, or repurchase equity securities of, the Corporate Taxpayer shall be deemed to be funds sufficient and available to pay such unpaid payments, together with any accrued and unpaid interest thereon.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;4.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Early Termination Notice</font></u><font size="2" style="font-size:10.0pt;">.&#160; If the Corporate Taxpayer chooses to exercise its right of early termination under Section&nbsp;4.01(b)&nbsp;above, the Corporate Taxpayer shall deliver to each Member notice of such intention to exercise such right (&#147;<u>Early Termination Notice</u>&#148;) and a schedule (the &#147;<u>Early Termination Schedule</u>&#148;) specifying the Corporate Taxpayer&#146;s intention to exercise such right and showing in reasonable detail the calculation of the Early Termination Payment for such Member.&#160; The Early Termination Schedule shall become final and binding on such Member 30 calendar days from the first date on which such Member has received such Schedule or amendment thereto unless such Member (i)&nbsp;within 30 calendar days after receiving the Early Termination Schedule, provides the Corporate Taxpayer with notice of a material objection to such Schedule made in good faith (&#147;<u>Material Objection</u></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16<a name="26867-3-NG-03_PB_16_091532_536"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=19,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=46771,FOLIO='16',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:33 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notice</font></u><font size="2" style="font-size:10.0pt;">&#148;) or (ii)&nbsp;provides a written waiver of such right of a Material Objection Notice within the period described in clause (i)&nbsp;above, in which case such Schedule becomes binding on the date the waiver is received by the Corporate Taxpayer (such 30 calendar day date as modified, if at all, by clauses (i)&nbsp;or (ii), the &#147;<u>Early Termination Effective Date</u>&#148;).&#160; If the Corporate Taxpayer and such Member, for any reason, are unable to successfully resolve the issues raised in such notice within 30 calendar days after receipt by the Corporate Taxpayer of the Material Objection Notice, the Corporate Taxpayer and such Member shall employ the Reconciliation Procedures.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;4.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Payment upon Early Termination</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Within three Business Days after the Early Termination Effective Date, the Corporate Taxpayer shall pay to each Member an amount equal to the Early Termination Payment in respect of such Member.&#160; Such payment shall be made by wire transfer of immediately available funds to a bank account or accounts designated by such Member or as otherwise agreed by the Corporate Taxpayer and such Member.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Early Termination Payment</u>&#148; in respect of a Member shall equal the present value, discounted at the Early Termination Rate as of the Early Termination Effective Date, of all Tax Benefit Payments in respect of such Member that would be required to be paid by the Corporate Taxpayer beginning from the Early Termination Date and assuming that the Valuation Assumptions are applied.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;V<br> SUBORDINATION AND LATE PAYMENTS</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Subordination</font></u><font size="2" style="font-size:10.0pt;">. Notwithstanding any other provision of this Agreement to the contrary, any Tax Benefit Payment or Early Termination Payment required to be made by the Corporate Taxpayer to any Member under this Agreement shall rank subordinate and junior in right of payment to any principal, interest or other amounts due and payable in respect of any obligations in respect of indebtedness for borrowed money of the Corporate Taxpayer and its Subsidiaries (&#147;<u>Senior Obligations</u>&#148;) and shall rank pari passu with all current or future unsecured obligations of the Corporate Taxpayer that are not Senior Obligations.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Late Payments by the Corporate Taxpayer</font></u><font size="2" style="font-size:10.0pt;">.&#160; The amount of all or any portion of any Tax Benefit Payment or Early Termination Payment not made to the applicable Member when due under the terms of this Agreement shall be payable together with any interest thereon, computed at the Default Rate and commencing from the date on which such Tax Benefit Payment or Early Termination Payment was due and payable.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;VI<br> NO DISPUTES; CONSISTENCY; COOPERATION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Participation in the Corporate Taxpayer&#146;s and OpCo&#146;s Tax Matters</font></u><font size="2" style="font-size:10.0pt;">.&#160; Except as otherwise provided herein, the Corporate Taxpayer shall have full responsibility for, and sole discretion over, all Tax matters concerning the Corporate Taxpayer and OpCo, including the preparation, filing or amending of any Tax Return and defending, contesting or settling any issue pertaining to Taxes.&#160; Notwithstanding the foregoing, the </font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17<a name="26867-3-NG-03_PB_17_091638_5926"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=20,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=398175,FOLIO='17',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:33 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Corporate Taxpayer shall notify a Member of, and keep such Member reasonably informed with respect to, the portion of any audit of the Corporate Taxpayer and OpCo by a Taxing Authority the outcome of which is reasonably expected to affect the rights and obligations of such Member under this Agreement, and shall provide to such Member reasonable opportunity to provide information and other input to the Corporate Taxpayer, OpCo and their respective advisors concerning the conduct of any such portion of such audit; <u>provided</u>, <u>however</u>, that the Corporate Taxpayer and OpCo shall not be required to take any action that is inconsistent with any provision of the LLC Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Consistency</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Corporate Taxpayer and the Members agree to report and cause to be reported for all purposes, including federal, state and local Tax purposes and financial reporting purposes, all Tax-related items (including the Basis Adjustments and each Tax Benefit Payment) in a manner consistent with that specified by the Corporate Taxpayer in any Schedule required to be provided by or on behalf of the Corporate Taxpayer under this Agreement unless otherwise required by law. Any dispute as to required Tax or financial reporting shall be subject to Section&nbsp;7.09.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Cooperation</font></u><font size="2" style="font-size:10.0pt;">.&#160; Each of the Corporate Taxpayer and each Member shall (a)&nbsp;furnish to the other party in a timely manner such information, documents and other materials as the other party may reasonably request for purposes of making any determination or computation necessary or appropriate under this Agreement, preparing any Tax Return or contesting or defending any audit, examination or controversy with any Taxing Authority, (b)&nbsp;make itself available to the other party and its representatives to provide explanations of documents and materials and such other information as the other party or its representatives may reasonably request in connection with any of the matters described in clause (a)&nbsp;above, and (c)&nbsp;reasonably cooperate in connection with any such matter, and the Corporate Taxpayer shall reimburse the applicable Member for any reasonable third-party costs and expenses incurred pursuant to this Section&nbsp;6.03.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;VII<br> MISCELLANEOUS</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Notices</font></u><font size="2" style="font-size:10.0pt;">.&#160; All notices, requests and other communications to any party hereunder shall be in writing (including facsimile transmission and electronic mail (&#147;<u>e-mail</u>&#148;) transmission, so long as a receipt of such e-mail is requested and received) and shall be given to such party as set forth below, or pursuant to such other instructions as may be designated in writing by the party to receive such notice:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If to the Corporate Taxpayer, to:</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Virtu Financial LLC <br> 645 Madison Avenue<br> New York, New York&#160; 10022<br> Attention: Legal Department<br> Facsimile No.: (212) 418-0100<br> E-mail: legal@virtu.com</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18<a name="26867-3-NG-03_PB_18_091701_4688"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=21,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=555148,FOLIO='18',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:33 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">With copies (which shall not constitute notice) to:</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison LLP</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1285 Avenue of the Americas</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New York, NY&#160; 10019-6064</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile No.:&#160; (212) 757-3990</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.26%;">
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:</font></p>    </td>
<td width="67%" valign="bottom" style="padding:0in 0in 0in 0in;width:67.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">John C. Kennedy</font></p>    </td>   </tr>
<tr>
<td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.26%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="67%" valign="bottom" style="padding:0in 0in 0in 0in;width:67.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Jeffrey D. Marell</font></p>    </td>   </tr>
<tr>
<td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.26%;">
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">E-mail:</font></p>    </td>
<td width="67%" valign="bottom" style="padding:0in 0in 0in 0in;width:67.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">jkennedy@paulweiss.com</font></p>    </td>   </tr>
<tr>
<td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.26%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="67%" valign="bottom" style="padding:0in 0in 0in 0in;width:67.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">jmarell@paulweiss.com</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If to the applicable Member, to the address, facsimile number or e-mail address specified for such party on the Member Schedule&nbsp;to the LLC Agreement.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All such notices, requests and other communications shall be deemed received on the date of receipt by the recipient thereof if received prior to 5:00&nbsp;p.m. on a Business Day in the place of receipt.&#160; Otherwise, any such notice, request or communication shall be deemed to have been received on the next succeeding Business Day in the place of receipt</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Binding Effect; Benefit; Assignment</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The provisions of this Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns.&#160; No provision of this Agreement is intended to confer any rights, benefits, remedies, obligations or liabilities hereunder upon any Person other than the parties hereto and their respective successors and assigns.&#160; The Corporate Taxpayer shall require and cause any direct or indirect successor (whether by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Corporate Taxpayer, by written agreement, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Corporate Taxpayer would be required to perform if no such succession had taken place.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">A Member may assign any of its rights under this Agreement to any Person as long as such transferee has executed and delivered, or, in connection with such transfer, executes and delivers, a joinder to this Agreement, in form of Exhibit&nbsp;A, agreeing to become a &#147;Member&#148; for all purposes of this Agreement, except as otherwise provided in such joinder; <u>provided</u>, that a Member&#146;s rights under this Agreement shall be assignable by such Member under the procedure in this Section&nbsp;7.02(b)&nbsp;regardless of whether such Member continues to hold any interests in OpCo or the Corporate Taxpayer or has fully transferred any such interests.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Resolution of Disputes</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Except for Reconciliation Disputes subject to Section&nbsp;7.09, any and all disputes which cannot be settled amicably, including any ancillary claims of any party, arising out of, relating to or in connection with the validity, negotiation, execution, interpretation, performance or non-performance of this Agreement (including the validity, scope and</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19<a name="26867-3-NG-03_PB_19_092244_2983"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=22,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=693192,FOLIO='19',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:33 2015' -->

<div>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">enforceability of this arbitration provision) (each a &#147;<u>Dispute</u>&#148;) shall be finally settled by arbitration conducted by a single arbitrator in Delaware in accordance with the then-existing Rules&nbsp;of Arbitration of the International Chamber of Commerce. If the parties to the Dispute fail to agree on the selection of an arbitrator within ten (10)&nbsp;days of the receipt of the request for arbitration, the International Chamber of Commerce shall make the appointment. The arbitrator shall be a lawyer admitted to the practice of law in the State of Delaware and shall conduct the proceedings in the English language.&#160; Performance under this Agreement shall continue if reasonably possible during any arbitration proceedings.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Notwithstanding the provisions of paragraph (a), the Corporate Taxpayer may bring an action or special proceeding in any court of competent jurisdiction for the purpose of compelling a party to arbitrate, seeking temporary or preliminary relief in aid of an arbitration hereunder, and/or enforcing an arbitration award and, for the purposes of this paragraph (b), each Member (i)&nbsp;expressly consents to the application of paragraph (c)&nbsp;of this Section&nbsp;7.03 to any such action or proceeding, (ii)&nbsp;agrees that proof shall not be required that monetary damages for breach of the provisions of this Agreement would be difficult to calculate and that remedies at law would be inadequate, and (iii)&nbsp;irrevocably appoints the Corporate Taxpayer as agent of such Member for service of process in connection with any such action or proceeding and agrees that service of process upon such agent, who shall promptly advise such Member of any such service of process, shall be deemed in every respect effective service of process upon such Member in any such action or proceeding.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; EACH PARTY HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF THE CHANCERY COURT OF THE STATE OF DELAWARE OR,&nbsp;IF SUCH COURT DECLINES JURISDICTION, THE COURTS OF THE STATE OF DELAWARE SITTING IN WILMINGTON, DELAWARE, AND OF THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF DELAWARE SITTING IN WILMINGTON, DELAWARE, AND ANY APPELLATE COURT FROM ANY THEREOF, FOR THE PURPOSE OF ANY JUDICIAL PROCEEDING BROUGHT IN ACCORDANCE WITH THE PROVISIONS OF THIS SECTION&nbsp;7.03, OR ANY JUDICIAL PROCEEDING ANCILLARY TO AN ARBITRATION OR CONTEMPLATED ARBITRATION ARISING OUT OF OR RELATING TO OR CONCERNING THIS AGREEMENT. Such ancillary judicial proceedings include any suit, action or proceeding to compel arbitration, to obtain temporary or preliminary judicial relief in aid of arbitration, or to confirm an arbitration award. The parties acknowledge that the fora designated by this paragraph (c)&nbsp;have a reasonable relation to this Agreement, and to the parties&#146; relationship with one another.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The parties hereby waive, to the fullest extent permitted by applicable law, any objection which they now or hereafter may have to personal jurisdiction or to the laying of venue of any such ancillary suit, action or proceeding brought in any court referred to in the preceding paragraph of this Section&nbsp;7.03 and such parties agree not to plead or claim the same.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.04&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Counterparts</u>.&#160; This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.&#160; Until and unless each party has received a counterpart hereof signed by the other party hereto, this Agreement shall have no effect and no</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20<a name="26867-3-NG-05_PB_20_092903_8299"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=23,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=916198,FOLIO='20',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 13:44 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">party shall have any right or obligation hereunder (whether by virtue of any other oral or written agreement or other communication).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.05&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Entire Agreement</u>.&#160; This Agreement and the other Reorganization Documents (as such term is defined in the LLC Agreement) constitute the entire agreement between the parties with respect to the subject matter of this Agreement and supersede all prior agreements and understandings, both oral and written, between the parties with respect to the subject matter of this Agreement.&#160; Except to the extent provided in Section&nbsp;3.03, nothing in this Agreement shall create any third-party beneficiary rights in favor of any Person or other party hereto.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.06&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Severability</u>.&#160; If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction or other Governmental Authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party.&#160; Upon such a determination, the parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the fullest extent possible.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.07&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Amendment</u>.&#160; No provision of this Agreement may be amended unless such amendment is approved in writing by the Corporate Taxpayer and by Persons who would be entitled to receive at least two-thirds of the Early Termination Payments payable to all Persons entitled to Early Termination Payments under the Tax Receivable Agreements if the Corporate Taxpayer had exercised its right of early termination on the date of the most recent Exchange prior to such amendment (excluding, for purposes of this sentence, all payments made to any Persons pursuant to the Tax Receivable Agreements since the date of such most recent Exchange); <u>provided</u>, that no such amendment shall be effective if such amendment will have a disproportionate effect on the payments certain Persons will or may receive under the Tax Receivable Agreements unless all such Persons disproportionately affected consent in writing to such amendment.&#160; No provision of this Agreement may be waived unless such waiver is in writing and signed by the party against whom the waiver is to be effective.&#160; If any amendment is proposed or made to the Tax Receivable Agreement (SLP Exchanges), the Members under this Agreement shall have the right to elect that a similar amendment be made to this Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.08&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Governing Law</u>.&#160; This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to the conflicts of law rules&nbsp;of such State that would result in the application of the laws of any other State.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.09&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Reconciliation</u>.&#160; In the event that the Corporate Taxpayer and a Member are unable to resolve a disagreement with respect to the matters governed by Sections 2.03, 3.01(b), 4.02 and 6.02 within the relevant period designated in this Agreement (&#147;<u>Reconciliation Dispute</u>&#148;), the Reconciliation Dispute shall be submitted for determination to a nationally recognized expert (the &#147;<u>Expert</u>&#148;) in the particular area of disagreement mutually acceptable to both parties. The Expert shall be a partner or principal in a nationally recognized accounting or law firm, and unless the Corporate Taxpayer and such Member agree otherwise,</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21<a name="26867-3-NG-05_PB_21_093019_8247"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=24,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=88279,FOLIO='21',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 13:44 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the Expert shall not, and the firm that employs the Expert shall not, have any material relationship with the Corporate Taxpayer or such Member or other actual or potential conflict of interest.&#160; If the parties are unable to agree on an Expert within fifteen (15) calendar days of receipt by the respondent(s)&nbsp;of written notice of a Reconciliation Dispute, the Expert shall be appointed by the International Chamber of Commerce Centre for Expertise. The Expert shall resolve any matter relating to the Exchange Basis Schedule or an amendment thereto or the Early Termination Schedule or an amendment thereto within 30 calendar days and shall resolve any matter relating to a Tax Benefit Schedule or an amendment thereto within 15 calendar days or as soon thereafter as is reasonably practicable, in each case after the matter has been submitted to the Expert for resolution.&nbsp; Notwithstanding the preceding sentence, if the matter is not resolved before any payment that is the subject of a disagreement would be due (in the absence of such disagreement) or any Tax Return reflecting the subject of a disagreement is due, the undisputed amount shall be paid on the date prescribed by this Agreement and such Tax Return may be filed as prepared by the Corporate Taxpayer, subject to adjustment or amendment upon resolution.&nbsp; The costs and expenses relating to the engagement of such Expert or amending any Tax Return shall be borne by the Corporate Taxpayer, except as provided in the next sentence.&nbsp; The Corporate Taxpayer and such Member shall bear their own costs and expenses of such proceeding, unless (i)&nbsp;the Expert substantially adopts such Member&#146;s position, in which case the Corporate Taxpayer shall reimburse such Member for any reasonable out-of-pocket costs and expenses in such proceeding, or (ii)&nbsp;the Expert substantially adopts the Corporate Taxpayer&#146;s position, in which case such Member shall reimburse the Corporate Taxpayer for any reasonable out-of-pocket costs and expenses in such proceeding.&nbsp; Any dispute as to whether a dispute is a Reconciliation Dispute within the meaning of this Section&nbsp;7.09 shall be decided by the Expert.&nbsp; The Expert shall finally determine any Reconciliation Dispute and the determinations of the Expert pursuant to this Section&nbsp;7.09 shall be binding on the Corporate Taxpayer and such Member and may be entered and enforced in any court having jurisdiction.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.10&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Withholding</u>.&#160; The Corporate Taxpayer shall be entitled to deduct and withhold from any payment payable pursuant to this Agreement such amounts as the Corporate Taxpayer is required to deduct and withhold with respect to the making of such payment under the Code or any provision of state, local or foreign tax law. To the extent that amounts are so withheld and paid over to the appropriate Taxing Authority by the Corporate Taxpayer, such withheld amounts shall be treated for all purposes of this Agreement as having been paid to the applicable Member.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.11&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Admission of the Corporate Taxpayer into a Consolidated Group; Transfers of Corporate Assets</u>.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; If the Corporate Taxpayer is or becomes a member of an affiliated or consolidated group of corporations that files a consolidated income tax return pursuant to Sections 1501 et seq. of the Code or any corresponding provisions of state or local law, then: (i)&nbsp;the provisions of this Agreement shall be applied with respect to the group as a whole; and (ii)&nbsp;Tax Benefit Payments, Early Termination Payments and other applicable items hereunder shall be computed with reference to the consolidated taxable income of the group as a whole.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22<a name="26867-3-NG-05_PB_22_093041_5893"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=25,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=342432,FOLIO='22',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 13:44 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; If any entity that is obligated to make a Tax Benefit Payment or Early Termination Payment hereunder transfers one or more assets to a corporation (or a Person classified as a corporation for U.S. federal income tax purposes) with which such entity does not file a consolidated tax return pursuant to Section&nbsp;1501 of the Code, such entity, for purposes of calculating the amount of any Tax Benefit Payment or Early Termination Payment (e.g., calculating the gross income of the entity and determining the Realized Tax Benefit of such entity) due hereunder, shall be treated as having disposed of such asset in a fully taxable transaction on the date of such contribution.&nbsp; The consideration deemed to be received by such entity shall be equal to the fair market value of the contributed asset.&#160; For purposes of this Section&nbsp;7.11, a transfer of a partnership interest shall be treated as a transfer of the transferring partner&#146;s share of each of the assets and liabilities of that partnership.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.12&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Confidentiality</u>.&#160; Section&nbsp;12.11 (Confidentiality) of the LLC Agreement as of the date of this Agreement shall apply to any information of the Corporate Taxpayer provided to the Members and their assignees pursuant to this Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.13&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Change in Law</u>.&#160; Notwithstanding anything herein to the contrary, if, in connection with an actual or proposed change in law, a Member reasonably believes that the existence of this Agreement could cause income (other than income arising from receipt of a payment under this Agreement) recognized by such Member (or direct or indirect equity holders in such Member) upon an Exchange to be treated as ordinary income rather than capital gain (or otherwise taxed at ordinary income rates) for U.S. federal income tax purposes or would have other material adverse tax consequences to the Corporate Taxpayer or such Member or any direct or indirect owner of a Member, then at the election of such Member and to the extent specified by such Member, this Agreement (i)&nbsp;shall cease to have further effect with respect to such Member, (ii)&nbsp;shall not apply to an Exchange occurring after a date specified by such Member, or (iii)&nbsp;shall otherwise be amended in a manner determined by such Member; <u>provided</u>, that such amendment shall not result in an increase in payments under this Agreement to such Member at any time as compared to the amounts and times of payments that would have been due to such Member in the absence of such amendment.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.14&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Partnership Agreement</u>.&#160; This Agreement shall be treated as part of the partnership agreement of OpCo as described in Section&nbsp;761(c)&nbsp;of the Code, and Sections 1.704-1(b)(2)(ii)(h)&nbsp;and 1.761-1(c)&nbsp;of the Treasury Regulations.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Remainder of Page&nbsp;Intentionally Left Blank]</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23<a name="26867-3-NG-05_PB_23_093055_9862"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=26,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=132889,FOLIO='23',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 13:44 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IN WITNESS WHEREOF, the Corporate Taxpayer and each Member set forth below have duly executed this Agreement as of the date first written above.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">CORPORATE TAXPAYER</font></u><font size="2" style="font-size:10.0pt;">:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIRTU FINANCIAL,&nbsp;INC.</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.46%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="45%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:45.56%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.46%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="45%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:45.56%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.46%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.56%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">MEMBERS</font></u><font size="2" style="font-size:10.0pt;">:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">TJMT HOLDINGS LLC</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.46%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="45%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:45.54%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.46%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="45%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:45.54%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.46%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.54%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIRTU EMPLOYEE HOLDCO LLC</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.46%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="45%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:45.54%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.46%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="45%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:45.54%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.46%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.54%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Signature Page&nbsp;to Tax Receivable Agreement (non-SLP Exchanges)</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=27,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=908339,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 13:44 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">DOUGLAS A. CIFU</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">[OTHER HOLDERS]</font></b></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Signature Page&nbsp;to Tax Receivable Agreement (non-SLP Exchanges)</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=28,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=783375,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 13:44 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit&nbsp;A</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Form&nbsp;of Joinder</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This JOINDER (this &#147;<u>Joinder</u>&#148;) to the Tax Receivable Agreement (as defined below), dated as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, by and among Virtu Financial,&nbsp;Inc., a Delaware corporation (the &#147;<u>Corporate Taxpayer</u>&#148;), and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (&#147;<u>Permitted Transferee</u>&#148;).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, Permitted Transferee acquired (the &#147;<u>Acquisition</u>&#148;) [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Units and the corresponding shares of Class&nbsp;C Common Stock] [the right to receive any and all payments that may become due and payable under the Tax Receivable Agreement with respect to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Units that were previously Exchanged and are described in greater detail in Annex A to this Joinder] (collectively, &#147;<u>Interests</u>&#148; and, together with all other interests hereinafter acquired by the Permitted Transferee from Transferor, the &#147;<u>Acquired Interests</u>&#148;) from &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (&#147;Transferor&#148;); and</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, Transferor, in connection with the Acquisition, has required Permitted Transferee to execute and deliver this Joinder pursuant to Section&nbsp;7.02(b)&nbsp;of the Tax Receivable Agreement (non-SLP Exchanges), dated as of [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], 2015, by and among the Corporate Taxpayer and each Member (as defined therein) (the &#147;<u>Tax Receivable Agreement</u>&#148;).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NOW, THEREFORE, in consideration of the foregoing and the respective covenants and agreements set forth herein, and intending to be legally bound hereby, the parties hereto agree as follows:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;1.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Definitions</u>.&#160; To the extent capitalized words used in this Joinder are not defined in this Joinder, such words shall have the respective meanings set forth in the Tax Receivable Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;1.02&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Joinder</u>.&#160; Permitted Transferee hereby acknowledges and agrees to become a &#147;Member&#148; (as defined in the Tax Receivable Agreement) for all purposes of the Tax Receivable Agreement.&#160; Permitted Transferee hereby acknowledges the terms of Section&nbsp;7.02(b)&nbsp;of the Tax Receivable Agreement and agrees to be bound by Section&nbsp;7.12 of the Tax Receivable Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;1.03&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Notice</u>.&#160; Any notice, request, consent, claim, demand, approval, waiver or other communication hereunder to Permitted Transferee shall be delivered or sent to Permitted Transferee at the address set forth on the signature page&nbsp;hereto in accordance with Section&nbsp;7.01 of the Tax Receivable Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;1.04&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Governing Law</u>. This Joinder shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to the conflicts of law rules&nbsp;of such State that would result in the application of the laws of any other State.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=29,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=99689,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 13:44 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IN WITNESS WHEREOF, this Joinder has been duly executed and delivered by Permitted Transferee as of the date first above written.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[PERMITTED TRANSFEREE]</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="45%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:45.56%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="45%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:45.56%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.56%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.56%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.56%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Address for notices:</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 3.0in;text-indent:4.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
</div>
<!-- ZEQ.=1,SEQ=30,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="4",CHK=886819,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NG-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 13:44 2015' -->

<BR>
<!-- TOCEXISTFLAG -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.7
<SEQUENCE>5
<FILENAME>a2223212zex-10_7.htm
<DESCRIPTION>EX-10.7
<TEXT>
<HTML>
<HEAD>
</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>
<div>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 10.7</font></b></p>
<table border="1" cellspacing="0" cellpadding="0" width="100%" style="border:none;border-collapse:collapse;width:100.0%;">
<tr>
<td width="100%" valign="top" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">TAX RECEIVABLE AGREEMENT (MERGERS)<br><br></font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">among<br><br></font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIRTU FINANCIAL,&nbsp;INC.,</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SLP III EW FEEDER I, L.P.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">and</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">HAVELOCK FUND INVESTMENTS PTE LTD.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Dated as of [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], 2015</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>
<table border="1" cellspacing="0" cellpadding="0" width="100%" style="border:none;border-collapse:collapse;width:100.0%;">
<tr>
<td width="100%" valign="top" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=1,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=822828,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:33 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">TABLE OF CONTENTS</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="92%" colspan="4" valign="bottom" style="padding:0in 0in 0in 0in;width:92.3%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="7%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:7.7%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Page</font></b></p>    </td>   </tr>
<tr>
<td width="92%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:92.3%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="47%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:47.72%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;I DEFINITIONS</font></p>    </td>
<td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>    </td>   </tr>
<tr>
<td width="92%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:92.3%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;1.01</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Definitions</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>    </td>   </tr>
<tr>
<td width="92%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:92.3%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="92%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:92.3%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;II DETERMINATION OF   REALIZED TAX BENEFIT</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11</font></p>    </td>   </tr>
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.01</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Basis Adjustment and NOLs</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.02</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Realized Tax Benefit and Realized Tax Detriment</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.03</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Procedures, Amendments</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12</font></p>    </td>   </tr>
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="92%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:92.3%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;III TAX BENEFIT   PAYMENTS</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13</font></p>    </td>   </tr>
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.01</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Payments</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.02</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">No Duplicative Payments</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.03</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pro Rata Payments; Coordination of Benefits With Other Tax   Receivable Agreements</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>    </td>   </tr>
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="92%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:92.3%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;IV TERMINATION</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15</font></p>    </td>   </tr>
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;4.01</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Termination, Early Termination and Breach of Agreement</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;4.02</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Early Termination Notice</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;4.03</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Payment upon Early Termination</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p>    </td>   </tr>
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="92%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:92.3%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;V SUBORDINATION AND   LATE PAYMENTS</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p>    </td>   </tr>
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.01</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Subordination</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.02</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Late Payments by the Corporate Taxpayer</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p>    </td>   </tr>
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="92%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:92.3%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;VI NO DISPUTES;   CONSISTENCY; COOPERATION</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p>    </td>   </tr>
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.01</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Participation in the Corporate Taxpayer&#146;s and OpCo&#146;s Tax   Matters</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.02</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consistency</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.03</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cooperation</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>    </td>   </tr>
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="92%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:92.3%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;VII MISCELLANEOUS</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>    </td>   </tr>
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.01</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notices</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.02</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Binding Effect; Benefit; Assignment</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.03</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Resolution of Disputes</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.04</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Counterparts</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.05</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Entire Agreement</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.06</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Severability</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.07</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.08</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Governing Law</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.09</font></p>    </td>
<td width="77%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Reconciliation</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22</font></p>    </td>   </tr>
<tr height="0">
<td width="25" style="border:none;"></td>
<td width="83" style="border:none;"></td>
<td width="249" style="border:none;"></td>
<td width="333" style="border:none;"></td>
<td width="58" style="border:none;"></td>   </tr> </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">i<a name="26867-3-NI-01_PB_i_085520_7056"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=2,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=720101,FOLIO='i',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:33 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.10</font></p>    </td>
<td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Withholding</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.11</font></p>    </td>
<td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Admission of the Corporate Taxpayer into a Consolidated   Group; Transfers of Corporate Assets</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.12</font></p>    </td>
<td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Confidentiality</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.13</font></p>    </td>
<td width="77%" valign="top" style="padding:0in 0in 0in 0in;width:77.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Change in Law</font></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.7%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ii<a name="26867-3-NI-01_PB_ii_085530_5335"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=3,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=584056,FOLIO='ii',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:33 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">TAX RECEIVABLE AGREEMENT (MERGERS)</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This TAX RECEIVABLE AGREEMENT (MERGERS) (as amended from time to time, this &#147;<u>Agreement</u>&#148;), dated as of [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], 2015, is hereby entered into by and among Virtu Financial,&nbsp;Inc., a Delaware corporation (the &#147;<u>Corporate Taxpayer</u>&#148;), SLP III EW Feeder I, L.P., a Delaware limited partnership (the &#147;<u>SLP Stockholder</u>&#148;), and Havelock Fund Investments Pte Ltd., a Singapore private limited company (the &#147;<u>Temasek Stockholder</u>&#148;, and together with the SLP Stockholder, the &#147;<u>Stockholders</u>&#148;), and each of the successors and assigns thereto.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, Virtu Financial LLC, a Delaware limited liability company (&#147;<u>OpCo</u>&#148;), is treated as a partnership for U.S. federal income tax purposes;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, each of the Corporate Taxpayer, SLP III EW Feeder LLC (f/k/a SLP III EW Feeder Corp.), a Delaware limited liability company (the &#147;<u>SLP/Temasek Blocker</u>&#148;), Wilbur Investments LLC, a Delaware limited liability company (the &#147;<u>Temasek Blocker</u>&#148;, and together with the SLP/Temasek Blocker, the &#147;<u>Blockers</u>&#148;), Virtu Financial Merger Sub LLC, a Delaware limited liability company (&#147;<u>Virtu Sub I</u>&#148;) and Virtu Financial Intermediate Holdings LLC, a Delaware limited liability company (&#147;<u>Virtu Sub II</u>&#148;) is classified as an association taxable as a corporation for U.S. federal income tax purposes;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, each of Virtu Financial Merger Sub II LLC, a Delaware limited liability company (&#147;<u>Virtu Sub III</u>&#148;) and Virtu Financial Intermediate Holdings II LLC, a Delaware limited liability company (&#147;<u>Virtu Sub IV</u>&#148;) is classified as a disregarded entity for U.S. federal income tax purposes;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, following certain reorganization transactions, (i)&nbsp;the Stockholders will hold all of the outstanding stock of the SLP/Temasek Blocker, (ii)&nbsp;the SLP/Temasek Blocker will hold common interest units in OpCo (the &#147;<u>Common Units</u>&#148;), and (iii)&nbsp;the Corporate Taxpayer will be the managing member of OpCo and will hold, directly and/or indirectly, Common Units;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, in connection with the IPO (as defined below), (i)&nbsp;pursuant to the provisions of the SLP/Temasek Merger Agreement (as defined below), (a)&nbsp;(x)&nbsp;the SLP/Temasek Blocker will merge with and into Virtu Sub I, with the SLP/Temasek Blocker surviving, and (y) the SLP/Temasek Blocker will merge with and into Virtu Sub III, with Virtu Sub III surviving (together, the &#147;<u>SLP/Temasek Merger</u>&#148;), and (b)&nbsp;the membership interests of the SLP/Temasek Blocker held by the Stockholders will convert into (x)&nbsp;shares of Class&nbsp;A common stock, $0.00001 par value per share, of the Corporate Taxpayer (the &#147;<u>Class&nbsp;A Common Stock</u>&#148;), (y)&nbsp;rights to receive payments hereunder and (z)&nbsp;rights to receive certain other payments, and (ii)&nbsp;pursuant to the provisions of the Temasek Merger Agreement (as defined below), (a)&nbsp;(x)&nbsp;the Temasek Blocker will merge with and into Virtu Sub II, with the Temasek Blocker surviving, and (y) the Temasek Blocker will merge with and into Virtu Sub IV, with Virtu Sub IV surviving (together, the &#147;<u>Temasek Merger</u>&#148;, and together with the SLP/Temasek Merger, the &#147;<u>Mergers</u>&#148;), and (b)&nbsp;the membership interests of the Temasek</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=4,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=67814,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:33 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Blocker held by the Temasek Stockholder will convert into (x)&nbsp;shares of Class&nbsp;A Common Stock, (y)&nbsp;rights to receive payments hereunder and (z)&nbsp;rights to receive certain other payments;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, as a result of the Mergers, the Corporate Taxpayer will be entitled to utilize certain net operating losses and capital losses of the Blockers generated before the Mergers (including credit carryforwards to the extent available) (the &#147;<u>NOLs</u>&#148; which, for purposes of clarification, shall not include amounts that are duplicative of any carryovers of tax items attributable to any Basis Adjustment);</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, OpCo and each of its direct and indirect subsidiaries treated as a partnership for U.S. federal income tax purposes had in effect an election under Section&nbsp;754 of the Internal Revenue Code of 1986, as amended (the &#147;<u>Code</u>&#148;), for current or prior Taxable Years (as defined below) in which (i)&nbsp;distributions from OpCo were made and (ii)&nbsp;transfers and exchanges of partnership interests in OpCo occurred;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the income, gain, loss, expense and other Tax (as defined below) items of the Corporate Taxpayer may be affected by (i)&nbsp;the NOLs, (ii)&nbsp;the Basis Adjustment (as defined below) and (iii)&nbsp;Imputed Interest (as defined below); and</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the parties to this Agreement desire to make certain arrangements with respect to the effect of the NOLs, the Basis Adjustment and Imputed Interest on the actual liability for Taxes of the Corporate Taxpayer.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NOW, THEREFORE, in consideration of the foregoing and the respective covenants and agreements set forth herein, and intending to be legally bound hereby, the parties hereto agree as follows:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;I</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">DEFINITIONS</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;1.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Definitions</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The following terms shall have the following meanings for the purposes of this Agreement:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Agreed Rate</u>&#148; means LIBOR plus 100 basis points.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Attributable</u>&#148; means, with respect to a Stockholder, the portion of any Realized Tax Benefit of the Corporate Taxpayer that is &#147;attributable&#148; to such Stockholder, which shall be determined by reference to the assets from which arise the depreciation, amortization or other similar deductions for recovery of cost or basis (&#147;<u>Depreciation</u>&#148;), with respect to increased basis upon a disposition of an asset or Imputed Interest that produce the Realized Tax Benefit and with respect to the NOLs, under the following principles:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">A portion of any Realized Tax Benefit arising from a deduction to the Corporate Taxpayer with respect to a Taxable Year for Depreciation arising in</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2<a name="26867-3-NI-01_PB_2_085754_2897"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=5,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=324391,FOLIO='2',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:33 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">respect of a Basis Adjustment to a Reference Asset attributable to the Common Units acquired in a Merger is Attributable to such Stockholder to the extent of such Stockholder&#146;s ownership of the Blocker participating in such Merger.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">A portion of any Realized Tax Benefit arising from the disposition of a Reference Asset is Attributable to such Stockholder to the extent that the ratio of all Basis Adjustments (to the extent not previously taken into account in the calculation of Realized Tax Benefits) attributable to the Common Units acquired in a Merger (to the extent of such Stockholder&#146;s ownership of the Blocker participating in such Merger) with respect to such Reference Asset bears to the aggregate of all Basis Adjustments (to the extent not previously taken into account in the calculation of Realized Tax Benefits) with respect to such Reference Asset.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">A portion of any Realized Tax Benefit arising from a deduction to the Corporate Taxpayer with respect to a Taxable Year in respect of Imputed Interest is Attributable to such Stockholder to the extent corresponding to amounts that such Stockholder is required to include in income in respect of Imputed Interest (without regard to whether such Stockholder is actually subject to tax thereon).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">A portion of any Realized Tax Benefit arising from the NOLs of a Blocker is Attributable to such Stockholder to the extent of such Stockholder&#146;s ownership of such Blocker.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">For the avoidance of doubt, in the case of a Basis Adjustment arising under Section&nbsp;734(b)&nbsp;of the Code with respect to an Exchange, depreciation, amortization or other similar deductions for recovery of cost of basis shall constitute Depreciation only to the extent that such depreciation, amortization or other similar deductions may produce or increase a Realized Tax Benefit (and not to the extent that such depreciation, amortization or other similar deductions may be for the benefit of a Person other than the Corporate Taxpayer), as reasonably determined by the Corporate Taxpayer.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">A portion of any Realized Tax Benefit arising from a carryover or carryback of any Tax item is Attributable to such Stockholder to the extent such carryover or carryback is attributable to or available for use because of the prior use of the Basis Adjustments, NOLs or Imputed Interest with respect to which a Realized Tax Benefit would be Attributable to such Stockholder pursuant to clauses (i)&#150;(v)&nbsp;above.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Portions of any Realized Tax Detriment shall be Attributed to Stockholders under principles similar to those described in clauses (i)&#150;(vi)&nbsp;above.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Basis Adjustment</u>&#148; means the adjustment to the tax basis of a Reference Asset under Sections 732, 755 and 1012 of the Code and the Treasury Regulations promulgated thereunder (in situations where, as a result of one or more Exchanges, OpCo becomes an entity that is disregarded as separate from its owner for U.S. federal income tax purposes) or under Sections 734(b), 743(b)&nbsp;and 755 of the Code and the Treasury Regulations promulgated thereunder (in situations where, following an Exchange, OpCo remains in existence as an entity for U.S. federal income tax purposes) and, in each case, comparable sections of state and local</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3<a name="26867-3-NI-01_PB_3_085925_3020"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=6,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=274943,FOLIO='3',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:33 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">tax laws, as a result of (i)&nbsp;an Exchange, (ii)&nbsp;the applicable Historical Transaction and (iii)&nbsp;the payments made pursuant to the Tax Receivable Agreements.&#160; For the avoidance of doubt, the amount of any Basis Adjustment resulting from an Exchange (other than a Basis Adjustment resulting from a Historical Transaction or a Merger) of one or more Common Units shall be determined without regard to any Pre-Exchange Transfer of such Common Units and as if any such Pre-Exchange Transfer had not occurred.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A &#147;<u>Beneficial Owner</u>&#148; of a security is a Person who directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise, has or shares: (i)&nbsp;voting power, which includes the power to vote, or to direct the voting of, such security and/or (ii)&nbsp;investment power, which includes the power to dispose of, or to direct the disposition of, such security.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Board</u>&#148; means the board of directors of the Corporate Taxpayer.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Business Day</u>&#148; shall have the meaning ascribed to such term in the LLC Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Change of Control</u>&#148; means the occurrence of any of the following events:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">any Person or any group of Persons acting together which would constitute a &#147;group&#148; for purposes of Section&nbsp;13(d)&nbsp;of the Securities and Exchange Act of 1934, or any successor provisions thereto, excluding (x)&nbsp;a corporation or other entity owned, directly or indirectly, by the stockholders of the Corporate Taxpayer in substantially the same proportions as their ownership of stock in the Corporate Taxpayer and (y)&nbsp;any Person that would be deemed an SL Member, Temasek Equityholder or Viola Member (as each such term is defined in the LLC Agreement, and assuming for this purpose that such Person owned Units or securities of the Corporate Taxpayer), is or becomes the Beneficial Owner, directly or indirectly, of securities of the Corporate Taxpayer representing more than 50% of the combined voting power of the Corporate Taxpayer&#146;s then outstanding voting securities; or</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the following individuals cease for any reason to constitute a majority of the number of directors of the Corporate Taxpayer then serving: individuals who, on the IPO Date, constitute the Board and any new director whose appointment or election by the Board or nomination for election by the Corporate Taxpayer&#146;s shareholders was approved or recommended by a vote of at least a majority of the directors then still in office who either were directors on the IPO Date or whose appointment, election or nomination for election was previously so approved or recommended by the directors referred to in this clause (ii); or</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">there is consummated a merger or consolidation of the Corporate Taxpayer with any other corporation or other entity, and, immediately after the consummation of such merger or consolidation, either (x)&nbsp;the Board immediately prior to the merger or consolidation does not constitute at least a majority of the board of directors of the company surviving the merger or, if the surviving company is a Subsidiary, the ultimate parent thereof, or (y)&nbsp;the voting securities of the Corporate Taxpayer immediately prior to such merger or</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4<a name="26867-3-NI-01_PB_4_090032_7748"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=7,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=72136,FOLIO='4',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:33 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">consolidation do not continue to represent or are not converted into more than 50% of the combined voting power of the then outstanding voting securities of the Person resulting from such merger or consolidation or, if the surviving company is a Subsidiary, the ultimate parent thereof; or</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the shareholders of the Corporate Taxpayer approve a plan of complete liquidation or dissolution of the Corporate Taxpayer or there is consummated an agreement or series of related agreements for the sale or other disposition, directly or indirectly, by the Corporate Taxpayer of all or substantially all of the Corporate Taxpayer&#146;s assets, other than such sale or other disposition by the Corporate Taxpayer of all or substantially all of the Corporate Taxpayer&#146;s assets to an entity, at least 50% of the combined voting power of the voting securities of which are owned by shareholders of the Corporate Taxpayer in substantially the same proportions as their ownership of the Corporate Taxpayer immediately prior to such sale.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notwithstanding the foregoing, except with respect to clause (ii)&nbsp;and clause (iii)(x)&nbsp;above, a &#147;Change of Control&#148; shall not be deemed to have occurred by virtue of the consummation of any transaction or series of integrated transactions immediately following which the record holders of the shares of the Corporate Taxpayer immediately prior to such transaction or series of transactions continue to have substantially the same proportionate ownership in, and own substantially all of the shares of, an entity which owns all or substantially all of the assets of the Corporate Taxpayer immediately following such transaction or series of transactions.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Control</u>&#148; means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Corporate Taxpayer Return</u>&#148; means the federal and/or state and/or local Tax Return, as applicable, of the Corporate Taxpayer filed with respect to Taxes of any Taxable Year.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Cumulative Net Realized Tax Benefit</u>&#148; for a Taxable Year means the cumulative amount of Realized Tax Benefits for all Taxable Years of the Corporate Taxpayer, up to and including such Taxable Year, net of the cumulative amount of Realized Tax Detriments for the same period.&#160; The Realized Tax Benefit and Realized Tax Detriment for each Taxable Year shall be determined based on the most recent Tax Benefit Schedule or Amended Schedule, if any, in existence at the time of such determination.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Default Rate</u>&#148; means LIBOR plus 500 basis points.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Determination</u>&#148; shall have the meaning ascribed to such term in Section&nbsp;1313(a)&nbsp;of the Code or similar provision of state and local tax law, as applicable, or any other event (including the execution of IRS Form&nbsp;870-AD) that finally and conclusively establishes the amount of any liability for Tax and shall also include the acquiescence of the Corporate Taxpayer to the amount of any assessed liability for Tax.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5<a name="26867-3-NI-01_PB_5_090059_141"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=8,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=392463,FOLIO='5',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:33 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Early Termination Date</u>&#148; means the date of an Early Termination Notice for purposes of determining the Early Termination Payment.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Early Termination Rate</u>&#148; means the lesser of (i)&nbsp;6.5% per annum, compounded annually, and (ii)&nbsp;LIBOR plus 100 basis points.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Exchange</u>&#148; means an acquisition of Common Units or a purchase of Common Units (i)&nbsp;by OpCo or the Corporate Taxpayer, including by way of an exchange of stock of the Corporate Taxpayer for Common Units pursuant to the Exchange Agreement (as defined in the Other Tax Receivable Agreements), in each case occurring on or after the date of this Agreement or (ii)&nbsp;pursuant to the Mergers. Any reference in this Agreement to Common Units &#147;<u>Exchanged</u>&#148; is intended to denote Common Units subject to an Exchange.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Governmental Authority</u>&#148; has the meaning set forth in the LLC Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Historical Transaction</u>&#148; means (i)&nbsp;in the case of the SLP/Temasek Blocker, the indirect acquisition of interests in OpCo by the SLP/Temasek Blocker pursuant to the Transaction and Merger Agreement dated as of April&nbsp;17, 2011 among OpCo and the other parties thereto and (ii)&nbsp;in the case of the Temasek Blocker, the acquisition of interests in OpCo by the Temasek Blocker pursuant to the Equity Redemption and Purchase Agreement dated as of December&nbsp;7, 2014 among the Temasek Blocker, the Temasek Stockholder, the SLP Stockholder and the other parties thereto.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Hypothetical Tax Liability</u>&#148; means, with respect to any Taxable Year, the liability for Taxes of (i)&nbsp;the Corporate Taxpayer and (ii)&nbsp;without duplication, OpCo, but only with respect to Taxes imposed on OpCo and allocable to the Corporate Taxpayer (or to the other members of the consolidated group of which the Corporate Taxpayer is the parent), in each case using the same methods, elections, conventions and similar practices used on the relevant Corporate Taxpayer Return, but (w)&nbsp;using the Non-Stepped Up Tax Basis (as defined in each of the Tax Receivable Agreements) as reflected on the Exchange Basis Schedule (as defined in the Other Tax Receivable Agreements) and the Merger Basis Schedule, including amendments thereto for the Taxable Year, (x)&nbsp;without taking into account the use of NOLs, if any, (y)&nbsp;excluding any deduction attributable to Imputed Interest for the Taxable Year, and (z)&nbsp;without taking into account the carryover or carryback of any Tax item (or portions thereof) that is attributable to or (without duplication) available for use because of the prior use of any of the Basis Adjustments, NOLs or Imputed Interest.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Imputed Interest</u>&#148; shall mean any interest imputed under Section&nbsp;1272, 1274 or 483 or other provision of the Code and any similar provision of state and local tax law with respect to the Corporate Taxpayer&#146;s payment obligations under this Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>IPO</u>&#148; means the initial public offering of Class&nbsp;A Common Stock of the Corporate Taxpayer.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>IPO Date</u>&#148; means the closing date of the IPO.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6<a name="26867-3-NI-01_PB_6_090118_7608"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=9,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=761573,FOLIO='6',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:33 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>IRS</u>&#148; means the U.S. Internal Revenue Service.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>LIBOR</u>&#148; means during any period, an interest rate per annum equal to the one-year LIBOR reported, on the date two days prior to the first day of such period, on the Telerate Page&nbsp;3750 (or if such screen shall cease to be publicly available, as reported on Reuters Screen page&nbsp;&#147;LIBOR01&#148; or by any other publicly available source of such market rate) for London interbank offered rates for United States dollar deposits for such period.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>LLC Agreement</u>&#148; means the Second Amended and Restated Limited Liability Company Agreement of OpCo, dated as of the date hereof.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Market Value</u>&#148; shall mean the closing price of the Class&nbsp;A Common Stock on the applicable Exchange Date on the national securities exchange or interdealer quotation system on which such Class&nbsp;A Common Stock is then traded or listed, as reported by the <i>Wall Street Journal</i>; <u>provided</u>, that if the closing price is not reported by the <i>Wall Street Journal</i> for the applicable Exchange Date, then the Market Value shall mean the closing price of the Class&nbsp;A Common Stock on the Business Day immediately preceding such Exchange Date on the national securities exchange or interdealer quotation system on which such Class&nbsp;A Common Stock is then traded or listed, as reported by the <i>Wall Street Journal</i>; <u>provided</u>, <u>further</u>, that if the Class&nbsp;A Common Stock is not then listed on a national securities exchange or interdealer quotation system, the Market Value shall mean the cash consideration paid for Class&nbsp;A Common Stock, or the fair market value of the other property delivered for Class&nbsp;A Common Stock, as determined by the Board in good faith.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Merger Agreements</u>&#148; means the SLP/Temasek Merger Agreement and the Temasek Merger Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Non-Stepped Up Tax Basis</u>&#148; means, with respect to any Reference Asset at any time, the Tax basis that such asset would have had at such time if no Basis Adjustments had been made.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Other Tax Receivable Agreements</u>&#148; means the Tax Receivable Agreement (SLP Exchanges) and the Tax Receivable Agreement (non-SLP Exchanges).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Payment Date</u>&#148; means any date on which a payment is required to be made pursuant to this Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Person</u>&#148; means any individual, corporation, firm, partnership, joint venture, limited liability company, estate, trust, business association, organization, governmental entity or other entity.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Pre-Exchange Transfer</u>&#148; means any transfer or distribution in respect of one or more Common Units (i)&nbsp;that occurs prior to an Exchange of such Common Units, and (ii)&nbsp;to which Section&nbsp;743(b)&nbsp;or 734(b)&nbsp;of the Code applies.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Realized Tax Benefit</u>&#148; means, for a Taxable Year, the excess, if any, of the Hypothetical Tax Liability over the actual liability for Taxes of (i)&nbsp;the Corporate Taxpayer and</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7<a name="26867-3-NI-01_PB_7_090143_8146"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=10,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=871318,FOLIO='7',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:33 2015' -->

<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&nbsp;without duplication, OpCo, but only with respect to Taxes imposed on OpCo and allocable to the Corporate Taxpayer (or to the other members of the consolidated group of which the Corporate Taxpayer is the parent) for such Taxable Year.&nbsp; If all or a portion of the actual liability for such Taxes for the Taxable Year arises as a result of an audit by a Taxing Authority of any Taxable Year, such liability shall not be included in determining the Realized Tax Benefit unless and until there has been a Determination.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Realized Tax Detriment</u>&#148; means, for a Taxable Year, the excess, if any, of the actual liability for Taxes of (i)&nbsp;the Corporate Taxpayer and (ii)&nbsp;without duplication, OpCo, but only with respect to Taxes imposed on OpCo and allocable to the Corporate Taxpayer (or to the other members of the consolidated group of which the Corporate Taxpayer is the parent) for such Taxable Year, over the Hypothetical Tax Liability for such Taxable Year. &nbsp;If all or a portion of the actual liability for such Taxes for the Taxable Year arises as a result of an audit by a Taxing Authority of any Taxable Year, such liability shall not be included in determining the Realized Tax Detriment unless and until there has been a Determination.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Reference Asset</u>&#148; means an asset that is held by OpCo, or by any of its direct or indirect subsidiaries treated as a partnership or disregarded entity for purposes of the applicable Tax, at the time of an Exchange.&#160; A Reference Asset also includes any asset that is &#147;substituted basis property&#148; under Section&nbsp;7701(a)(42) of the Code with respect to a Reference Asset.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Schedule</u>&#148; means any of the following: (i)&nbsp;the Merger Basis Schedule, (ii)&nbsp;a Tax Benefit Schedule, or (iii)&nbsp;the Early Termination Schedule.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>SLP/Temasek Merger Agreement</u>&#148; means that certain Agreement and Plan of Merger, dated as of the date hereof, by and among the Corporate Taxpayer, Virtu Sub I, the SLP/Temasek Blocker and the Stockholders.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Subsidiaries</u>&#148; shall have the meaning ascribed to such term in the LLC Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Tax Receivable Agreement (non-SLP Exchanges)</u>&#148; means the Tax Receivable Agreement (non-SLP Exchanges), dated as of the date hereof, by and among the Corporate Taxpayer, and certain members of OpCo as of the date hereof (other than those members that are party to the Tax Receivable Agreement (SLP Exchanges), the Corporate Taxpayer, Virtu Sub III and Virtu Sub&nbsp;IV).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Tax Receivable Agreement (SLP Exchanges)</u>&#148; means the Tax Receivable Agreement (SLP Exchanges), dated as of the date hereof, by and among the Corporate Taxpayer and certain members of OpCo as of the date hereof (other than those members that are party to the Tax Receivable Agreement (non-SLP Exchanges), the Corporate Taxpayer, Virtu Sub III and Virtu Sub IV).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Tax Receivable Agreements</u>&#148; means the Other Tax Receivable Agreements and this Agreement.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8<a name="26867-3-NI-03_PB_8_090527_455"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=11,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=552181,FOLIO='8',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 08:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Tax Return</u>&#148; means any return, declaration, report or similar statement required to be filed with respect to Taxes (including any attached schedules), including any information return, claim for refund, amended return and declaration of estimated Tax.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Taxable Year</u>&#148; means a taxable year of the Corporate Taxpayer as defined in Section&nbsp;441(b)&nbsp;of the Code or comparable section of state or local tax law, as applicable (and, therefore, for the avoidance of doubt, may include a period of less than 12 months for which a Tax Return is made), ending on or after the IPO Date.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Taxes</u>&#148; means any and all U.S. federal, state and local taxes, assessments or similar charges that are based on or measured with respect to net income or profits, and any interest related to such Tax.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Taxing Authority</u>&#148; shall mean any domestic, federal, national, state, county or municipal or other local government, any subdivision, agency, commission or authority thereof, or any quasi-governmental body exercising any taxing authority or any other authority exercising Tax regulatory authority.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Temasek Merger Agreement</u>&#148; means that certain Agreement and Plan of Merger, dated as of the date hereof, by and among the Corporate Taxpayer, Virtu Sub II, the Temasek Blocker and the Temasek Stockholder.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Treasury Regulations</u>&#148; means the final, temporary and proposed regulations under the Code promulgated from time to time (including corresponding provisions and succeeding provisions) as in effect for the relevant taxable period.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Valuation Assumptions</u>&#148; shall mean, as of an Early Termination Date, the assumptions that (1)&nbsp;in each Taxable Year ending on or after such Early Termination Date, the Corporate Taxpayer will have taxable income sufficient to fully utilize the deductions arising from the Basis Adjustments and Imputed Interest during such Taxable Year or future Taxable Years (including, for the avoidance of doubt, Basis Adjustments and Imputed Interest that would result from future Tax Benefit Payments that would be paid in accordance with the Valuation Assumptions) in which such deductions would become available, (2)&nbsp;the U.S. federal income tax rates and state and local income tax rates that will be in effect for each such Taxable Year will be those specified for each such Taxable Year by the Code and other law as in effect on the Early Termination Date, (3)&nbsp;any loss carryovers generated by deductions arising from Basis Adjustments, the NOLs or Imputed Interest that are available as of such Early Termination Date will be utilized by the Corporate Taxpayer on a pro rata basis from the Early Termination Date through the scheduled expiration date of such loss carryovers, (4)&nbsp;any non-amortizable assets will be disposed of on the fifteenth anniversary of the applicable Basis Adjustment; <u>provided</u>, that in the event of a Change of Control, such non-amortizable assets shall be deemed disposed of at the time of sale of the relevant asset (if earlier than such fifteenth anniversary), and (5)&nbsp;if, at the Early Termination Date, there are Common Units that have not been Exchanged, then each such Common Unit shall be deemed to be Exchanged for the Market Value of the number of shares of Class&nbsp;A Common Stock and the amount of cash that would be transferred if the Exchange occurred on the Early Termination Date.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9<a name="26867-3-NI-03_PB_9_090544_4141"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=12,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=584235,FOLIO='9',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 08:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Each of the following terms is defined in the Section&nbsp;set forth opposite such term:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="70%" style="border-collapse:collapse;margin-left:1.0in;width:70.0%;">
<tr>
<td width="56%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Term</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.76%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="39%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:39.68%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Section</font></b></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Agreement</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" style="padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amended   Schedule</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.03(b)</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Blockers</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" style="padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Class&nbsp;A   Common Stock</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Code</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" style="padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Common   Units</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Corporate   Taxpayer</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" style="padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dispute</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.03(a)</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Early   Termination Effective Date</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.02</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" style="padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Early   Termination Notice</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.02</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Early   Termination Payment</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.03(b)</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" style="padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Early   Termination Schedule</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.02</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">e-mail</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.01</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" style="padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Expert</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.09</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interest   Amount</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.01(b)</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" style="padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Material   Objection Notice</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.02</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mergers</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" style="padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Merger   Basis Schedule</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.01</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net   Tax Benefit</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.01(b)</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" style="padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NOLs</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Objection   Notice</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.03(a)</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" style="padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">OpCo</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Reconciliation   Dispute</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.09</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" style="padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Reconciliation   Procedures</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.03(a)</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Senior   Obligations</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.01</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" style="padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SLP   Stockholder</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SLP/Temasek   Blocker</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" style="padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SLP/Temasek   Merger</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stockholders</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" style="padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Tax   Benefit Payment</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.01(b)</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Tax   Benefit Schedule</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.02(a)</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" style="padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Temasek   Blocker</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Temasek   Merger</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" style="padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Temasek   Stockholder</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Virtu   Sub I</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" style="padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Virtu   Sub II</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Virtu   Sub III</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="56%" valign="top" style="padding:0in 0in 0in 0in;width:56.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Virtu   Sub IV</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Other Definitional and Interpretative Provisions</font></u><font size="2" style="font-size:10.0pt;">.&#160; The words &#147;hereof&#148;, &#147;herein&#148; and &#147;hereunder&#148; and words of like import used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement.&#160; The captions herein are included for convenience of reference only and shall be ignored in the</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10<a name="26867-3-NI-03_PB_10_090822_8627"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=13,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=636314,FOLIO='10',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 08:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">construction or interpretation hereof.&#160; References to Articles and Sections are to Articles and Sections of this Agreement unless otherwise specified.&#160; Any singular term in this Agreement shall be deemed to include the plural, and any plural term the singular.&#160; Whenever the words &#147;include&#148;, &#147;includes&#148; or &#147;including&#148; are used in this Agreement, they shall be deemed to be followed by the words &#147;without limitation&#148;, whether or not they are in fact followed by those words or words of like import.&#160; &#147;Writing&#148;, &#147;written&#148; and comparable terms refer to printing, typing and other means of reproducing words (including electronic media) in a visible form.&#160; References to any statute shall be deemed to refer to such statute as amended from time to time and to any rules&nbsp;or regulations promulgated thereunder.&#160; References to any agreement or contract are to that agreement or contract as amended, modified or supplemented from time to time in accordance with the terms hereof and thereof.&#160; References to any Person include the successors and permitted assigns of that Person.&#160; References from or through any date mean, unless otherwise specified, from and including or through and including, respectively.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;II</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">DETERMINATION OF REALIZED TAX BENEFIT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Basis Adjustment and NOLs</font></u><font size="2" style="font-size:10.0pt;">.&#160; Within 120 calendar days after the filing of the U.S. federal income tax return of the Corporate Taxpayer for the Taxable Year in which the Mergers have been effected by the Stockholders, the Corporate Taxpayer shall deliver to each applicable Stockholder participating in a Merger a schedule (the &#147;<u>Merger Basis Schedule</u>&#148;) that shows, in reasonable detail necessary to perform the calculations required by this Agreement, including (i)&nbsp;the Non-Stepped Up Tax Basis of the Reference Assets as of each applicable Exchange Date, (ii)&nbsp;the Basis Adjustments with respect to the Reference Assets attributable to the Common Units acquired in such Merger, calculated in the aggregate, (iii)&nbsp;the period (or periods) over which the Reference Assets are amortizable and/or depreciable, (iv)&nbsp;the period (or periods) over which such Basis Adjustments are amortizable and/or depreciable, (v)&nbsp;the NOLs of the applicable Blocker as of the date of the Mergers, (vi)&nbsp;the scheduled expiration date (or dates) of such NOLs, and (vii)&nbsp;the limitations, if any, to which the use of such NOLs are subject under section 382 of the Code. As promptly as practicable, the Corporate Taxpayer and the applicable Stockholders shall agree on a replacement Merger Basis Schedule that reflects any adjustments necessary as a result of the IPO.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Realized Tax Benefit and Realized Tax Detriment</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Tax Benefit Schedule</font></u><font size="2" style="font-size:10.0pt;">.&#160; Within 120 calendar days after the filing of the U.S. federal income tax return of the Corporate Taxpayer for any Taxable Year in which there is a Realized Tax Benefit or Realized Tax Detriment a portion of which is Attributable to a Stockholder, the Corporate Taxpayer shall provide to such Stockholder a schedule showing, in reasonable detail, the calculation of the Realized Tax Benefit or Realized Tax Detriment for such Taxable Year (a &#147;<u>Tax Benefit Schedule</u>&#148;).&#160; The Tax Benefit Schedule will become final as provided in Section&nbsp;2.03(a)&nbsp;and may be amended as provided in Section&nbsp;2.03(b)&nbsp;(subject to the procedures set forth in Section&nbsp;2.03(b)).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Applicable Principles</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Realized Tax Benefit or Realized Tax Detriment for each Taxable Year is intended to measure the decrease or increase in the actual</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11<a name="26867-3-NI-03_PB_11_090906_7906"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=14,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=906916,FOLIO='11',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 08:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">liability for Taxes of the Corporate Taxpayer for such Taxable Year attributable to the Basis Adjustments, the NOLs and Imputed Interest, determined using a &#147;with and without&#148; methodology.&#160; For the avoidance of doubt, the actual liability for Taxes will take into account the deduction of the portion of the Tax Benefit Payment that must be accounted for as interest under the Code based upon the characterization of Tax Benefit Payments as additional consideration payable by the Corporate Taxpayer for the Common Units acquired in an Exchange.&#160; Carryovers or carrybacks of any Tax item attributable to the Basis Adjustment, the NOLs or Imputed Interest shall be considered to be subject to the rules&nbsp;of the Code and the Treasury Regulations or the appropriate provisions of U.S. state and local income and franchise tax law, as applicable, governing the use, limitation and expiration of carryovers or carrybacks of the relevant type.&#160; If a carryover or carryback of any Tax item includes a portion that is attributable to the Basis Adjustment, the NOLs or Imputed Interest and another portion that is not, such portions shall be considered to be used in accordance with the &#147;with and without&#148; methodology.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Procedures, Amendments</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Procedure</font></u><font size="2" style="font-size:10.0pt;">.&#160; Every time the Corporate Taxpayer delivers to a Stockholder an applicable Schedule under this Agreement, including any Amended Schedule delivered pursuant to Section&nbsp;2.03(b)&nbsp;and any Early Termination Schedule or amended Early Termination Schedule, the Corporate Taxpayer shall also (x)&nbsp;deliver to such Stockholder schedules, valuation reports (if any), and work papers, as determined by the Corporate Taxpayer or requested by such Stockholder, providing reasonable detail regarding the preparation of the Schedule and (y)&nbsp;allow such Stockholder reasonable access at no cost to the appropriate representatives at the Corporate Taxpayer, as determined by the Corporate Taxpayer or requested by such Stockholder, in connection with a review of such Schedule.&#160; Without limiting the application of the preceding sentence, each time the Corporate Taxpayer delivers to a Stockholder a Tax Benefit Schedule, in addition to the Tax Benefit Schedule duly completed, the Corporate Taxpayer shall deliver to such Stockholder the Corporate Taxpayer Return, the reasonably detailed calculation by the Corporate Taxpayer of the Hypothetical Tax Liability, the reasonably detailed calculation by the Corporate Taxpayer of the actual Tax liability, as well as any other work papers as determined by the Corporate Taxpayer or requested by such Stockholder.&#160; An applicable Schedule or amendment thereto shall become final and binding on all parties 30 calendar days from the first date on which a Stockholder has received the applicable Schedule or amendment thereto unless such Stockholder (i)&nbsp;within 30 calendar days after receiving an applicable Schedule or amendment thereto, provides the Corporate Taxpayer with notice of a material objection to such Schedule (&#147;<u>Objection Notice</u>&#148;) made in good faith or (ii)&nbsp;provides a written waiver of such right of any Objection Notice within the period described in clause (i)&nbsp;above, in which case such Schedule or amendment thereto becomes binding on the date the waiver is received by the Corporate Taxpayer.&#160; If the parties, for any reason, are unable to successfully resolve the issues raised in the Objection Notice within 30 calendar days after receipt by the Corporate Taxpayer of an Objection Notice, the Corporate Taxpayer and the applicable Stockholder shall employ the reconciliation procedures as described in Section&nbsp;7.09 (the &#147;<u>Reconciliation Procedures</u>&#148;).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Amended Schedule</font></u><font size="2" style="font-size:10.0pt;">.&#160; The applicable Schedule for any Taxable Year may be amended from time to time by the Corporate Taxpayer (i)&nbsp;in connection with a Determination affecting such Schedule, (ii)&nbsp;to correct inaccuracies in the Schedule identified as a</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12<a name="26867-3-NI-03_PB_12_090940_3736"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=15,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=951781,FOLIO='12',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 08:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">result of the receipt of additional factual information relating to a Taxable Year after the date the Schedule was provided to a Stockholder, (iii)&nbsp;to comply with (A)&nbsp;the Expert&#146;s determination under the Reconciliation Procedures or (B)&nbsp;an Expert&#146;s determination under the reconciliation procedures applicable to the Other Tax Receivable Agreements, (iv)&nbsp;to reflect a change in the Realized Tax Benefit or Realized Tax Detriment for such Taxable Year attributable to a carryback or carryforward of a loss or other tax item to such Taxable Year, or (v)&nbsp;to reflect a change in the Realized Tax Benefit or Realized Tax Detriment for such Taxable Year attributable to an amended Tax Return filed for such Taxable Year (any such Schedule, an &#147;<u>Amended Schedule</u>&#148;).&#160; The Corporate Taxpayer shall provide an Amended Schedule to the applicable Stockholder within 30 calendar days of the occurrence of an event referenced in clauses (i)&nbsp;through (v)&nbsp;of the preceding sentence.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;III</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">TAX BENEFIT PAYMENTS</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Payments</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Within five (5)&nbsp;Business Days after all of the Tax Benefit Schedules (as defined in each of the Tax Receivable Agreements) with respect to a Taxable Year delivered to (i)&nbsp;the Stockholders pursuant to this Agreement and (ii)&nbsp;any Persons who could, under the Other Tax Receivable Agreements, be entitled to Tax Benefit Payments become final in accordance with Section&nbsp;2.03(a)&nbsp;and Section&nbsp;2.03(a)&nbsp;of the Other Tax Receivable Agreements, the Corporate Taxpayer shall pay to each Stockholder for such Taxable Year the Tax Benefit Payment with respect to such Stockholder in the amount determined pursuant to Section&nbsp;3.01(b).&nbsp; Such Tax Benefit Payment shall be made by wire transfer of immediately available funds to the bank account previously designated by the applicable Stockholder to the Corporate Taxpayer or as otherwise agreed by the Corporate Taxpayer and such Stockholder.&nbsp; For the avoidance of doubt, no Tax Benefit Payment shall be made in respect of estimated tax payments, including federal estimated income tax payments.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">A &#147;<u>Tax Benefit Payment</u>&#148; means, with respect to a Stockholder, an amount, not less than zero, equal to the sum of the amount of the Net Tax Benefit Attributable to such Stockholder and the related Interest Amount.&nbsp; For the avoidance of doubt, for Tax purposes, the Interest Amount shall not be treated as interest but instead shall be treated as additional consideration payable pursuant to the applicable Merger Agreements, unless otherwise required by law.&#160; Subject to Section&nbsp;3.03(a), the &#147;<u>Net Tax Benefit</u>&#148; for a Taxable Year shall be an amount equal to the excess, if any, of 85% of the Cumulative Net Realized Tax Benefit as of the end of such Taxable Year over the sum of (i)&nbsp;the total amount of Tax Benefit Payments previously made under this Section&nbsp;3.01 (excluding payments attributable to Interest Amounts) and (ii)&nbsp;the total amount of Tax Benefit Payments (as defined in the Other Tax Receivable Agreements) previously made under Section&nbsp;3.01 of the Other Tax Receivable Agreements (excluding payments attributable to Interest Amounts (as defined in the Other Tax Receivable Agreements)); <u>provided</u>, for the avoidance of doubt, that a Stockholder shall not be required to return any portion of any previously made Tax Benefit Payment.&#160; The &#147;<u>Interest Amount</u>&#148; shall equal the interest on the amount of the Net Tax Benefit Attributable to a Stockholder calculated at the Agreed Rate from the due date (without extensions) for filing the Corporate Taxpayer</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13<a name="26867-3-NI-03_PB_13_091039_9621"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=16,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=960264,FOLIO='13',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 08:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Return with respect to Taxes for such Taxable Year until the Payment Date of the applicable Tax Benefit Payment.&#160; Notwithstanding the foregoing, unless a Stockholder elects to receive the lump-sum payment pursuant to the following sentence, for each Taxable Year ending on or after the date of a Change of Control, all Tax Benefit Payments shall be calculated by utilizing Valuation Assumptions (1)&nbsp;and (3), substituting in each case the terms &#147;the closing date of a Change of Control&#148; for an &#147;Early Termination Date.&#148;&#160; In connection with any Change of Control (other than a Change of Control caused solely by the applicable Stockholder), at the election of a Stockholder, all obligations hereunder with respect to such Stockholder shall be accelerated and such obligations shall be calculated as if an Early Termination Notice had been delivered on the date of such election and shall include, but not be limited to, (1)&nbsp;the Early Termination Payment to such Stockholder calculated as if an Early Termination Notice had been delivered on the date of such election, (2)&nbsp;any Tax Benefit Payment agreed to by the Corporate Taxpayer and such Stockholder as due and payable but unpaid as of the date of such Stockholder&#146;s election, and (3)&nbsp;any Tax Benefit Payment due for the Taxable Year ending with or including the date of such Stockholder&#146;s election; <u>provided</u>, that procedures similar to the procedures of Section&nbsp;4.02 shall apply with respect to the determination of the amount payable by the Corporate Taxpayer pursuant to this sentence.&#160; Notwithstanding anything to the contrary in this Agreement, after any lump-sum payment under this Section&nbsp;3.01(b)&nbsp;or Article&nbsp;IV or Section&nbsp;3.01(b)&nbsp;or Article&nbsp;IV of the other Tax Receivable Agreements in respect of present or future Tax attributes subject to the Tax Receivable Agreements, the Tax Benefit Payment, Net Tax Benefit and components thereof shall be calculated without taking into account any such attributes or any such lump-sum payment.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">No Duplicative Payments</font></u><font size="2" style="font-size:10.0pt;">.&#160; It is intended that the provisions of this Agreement will not result in duplicative payment of any amount (including interest) required under this Agreement.&nbsp; In addition, it is intended that the provisions of this Agreement will not result in a duplicative payment of any amount payable under the Other Tax Receivable Agreements. The provisions of this Agreement shall be construed in the appropriate manner to ensure such intentions are realized.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Pro Rata Payments; Coordination of Benefits With Other Tax Receivable Agreements</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Notwithstanding anything in Section&nbsp;3.01 to the contrary, to the extent that the aggregate tax benefit of the Corporate Taxpayer&#146;s reduction in Tax liability as a result of the Basis Adjustments, the NOLs and Imputed Interest under the Tax Receivable Agreements (as such terms are defined in each Tax Receivable Agreement) is limited in a particular Taxable Year because the Corporate Taxpayer does not have sufficient taxable income to fully utilize available deductions and other attributes, the limitation on the tax benefit for the Corporate Taxpayer shall be allocated among the Tax Receivable Agreements (and among all parties eligible for payments thereunder) in proportion to the respective amounts of Tax Benefit Payments (as defined in each Tax Receivable Agreement) that would have been determined under the Tax Receivable Agreements (and allocated among such parties) if the Corporate Taxpayer had sufficient taxable income so that there were no such limitation.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">After taking into account Section&nbsp;3.03(a), if for any reason the Corporate Taxpayer does not fully satisfy its payment obligations to make all Tax Benefit Payments due under the Tax Receivable</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14<a name="26867-3-NI-03_PB_14_091112_8715"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=17,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=387120,FOLIO='14',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 08:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Agreements in respect of a particular Taxable Year, then the Corporate Taxpayer and each Stockholder agree that (i)&nbsp;the Corporate Taxpayer shall pay the same proportion of each Tax Benefit Payment due under each of the Tax Receivable Agreements in respect of such Taxable Year, without favoring one obligation over the other, and (ii)&nbsp;no Tax Benefit Payment shall be made in respect of any Taxable Year until all Tax Benefit Payments in respect of prior Taxable Years have been made in full.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The parties hereto agree that the parties to the Other Tax Receivable Agreements are expressly made third party beneficiaries of the provisions of this Section&nbsp;3.03.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;IV</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">TERMINATION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;4.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Termination, Early Termination and Breach of Agreement</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Unless terminated earlier pursuant to Section&nbsp;4.01(b)&nbsp;or Section&nbsp;4.01(c), this Agreement will terminate when there is no further potential for a Tax Benefit Payment pursuant to this Agreement. Tax Benefit Payments under this Agreement are not conditioned on any Stockholder retaining an interest in the Corporate Taxpayer (or any successor thereto).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Corporate Taxpayer may terminate this Agreement with respect to a Stockholder by paying to such Stockholder the Early Termination Payment; <u>provided</u>, <u>however</u>, that the Corporate Taxpayer may withdraw any notice to execute its termination rights under this Section&nbsp;4.01(b)&nbsp;prior to the time at which any Early Termination Payment has been paid.&nbsp; Upon payment of the Early Termination Payment to a Stockholder by the Corporate Taxpayer in accordance with this Section&nbsp;4.01(b), neither such Stockholder nor the Corporate Taxpayer shall have any further payment obligations under this Agreement, other than for any (1)&nbsp;Tax Benefit Payment agreed to by the Corporate Taxpayer and such Stockholder as due and payable but unpaid as of the Early Termination Notice and (2)&nbsp;Tax Benefit Payment due for the Taxable Year ending with or including the date of the Early Termination Notice (except to the extent that the amount described in clause (2)&nbsp;is included in the Early Termination Payment).&#160; If the Corporate Taxpayer terminates, or proposes to terminate, any Tax Receivable Agreement (including this Agreement) with respect to any Person entitled to receive payment under such Tax Receivable Agreement, then each Stockholder shall have the right to cause the Corporate Taxpayer to make an Early Termination Payment to it under this Agreement; provided that the procedures of this Article&nbsp;IV shall apply to such Early Termination Payment as if the Corporate Taxpayer had delivered an Early Termination Notice to such Stockholder.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">In the event that the Corporate Taxpayer breaches any of its material obligations under this Agreement, whether as a result of failure to make any payment when due, failure to honor any other material obligation required hereunder or by operation of law as a result of the rejection of this Agreement in a case commenced under the Bankruptcy Code or otherwise, then all obligations with respect to a Stockholder hereunder shall be accelerated and such obligations shall be calculated as if an Early Termination Notice had been</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15<a name="26867-3-NI-03_PB_15_091155_563"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=18,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=320317,FOLIO='15',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 08:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">delivered on the date of such breach and shall include, but not be limited to, (1)&nbsp;the Early Termination Payment with respect to such Stockholder calculated as if an Early Termination Notice had been delivered on the date of a breach, (2)&nbsp;any Tax Benefit Payment agreed to by the Corporate Taxpayer and such Stockholder as due and payable but unpaid as of the date of a breach, and (3)&nbsp;any Tax Benefit Payment due for the Taxable Year ending with or including the date of a breach; provided that procedures similar to the procedures of Section&nbsp;4.02 shall apply with respect to the determination of the amount payable by the Corporate Taxpayer pursuant to this sentence.&nbsp; Notwithstanding the foregoing, in the event that the Corporate Taxpayer breaches this Agreement, each Stockholder shall be entitled to elect to receive the amounts set forth in clauses (1), (2)&nbsp;and (3)&nbsp;above or to seek specific performance of the terms hereof.&nbsp; The parties agree that the failure to make any payment due pursuant to this Agreement within three months of the date such payment is due shall be deemed to be a breach of a material obligation under this Agreement for all purposes of this Agreement, and that it will not be considered to be a breach of a material obligation under this Agreement to make a payment due pursuant to this Agreement within three months of the date such payment is due. Notwithstanding anything in this Agreement to the contrary, it shall not be a breach of this Agreement if the Corporate Taxpayer fails to make any payment due pursuant to this Agreement when due to the extent the Corporate Taxpayer has insufficient funds to make such payment; <u>provided</u> that the interest provisions of Section&nbsp;5.02 shall apply to such late payment (unless the Corporate Taxpayer does not have sufficient cash to make such payment as a result of limitations imposed by credit agreements to which the Corporate Taxpayer or its Subsidiaries is a party, in which case Section&nbsp;5.02 shall apply, but the Default Rate shall be replaced by the Agreed Rate); <u>provided</u>, <u>further</u>, that the Corporate Taxpayer shall promptly (and in any event, within two (2)&nbsp;Business Days), pay all such unpaid payments, together with accrued and unpaid interest thereon, immediately following such time that the Corporate Taxpayer has, and to the extent the Corporate Taxpayer has, sufficient funds to make such payment, and the failure of the Corporate Taxpayer to do so shall constitute a breach of this Agreement.&#160; For the avoidance of doubt, all cash and cash equivalents used or to be used to pay dividends by, or repurchase equity securities of, the Corporate Taxpayer shall be deemed to be funds sufficient and available to pay such unpaid payments, together with any accrued and unpaid interest thereon.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;4.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Early Termination Notice</font></u><font size="2" style="font-size:10.0pt;">.&#160; If the Corporate Taxpayer chooses to exercise its right of early termination with respect to a Stockholder under Section&nbsp;4.01(b)&nbsp;above, the Corporate Taxpayer shall deliver to such Stockholder notice of such intention to exercise such right (&#147;<u>Early Termination Notice</u>&#148;) and a schedule (the &#147;<u>Early Termination Schedule</u>&#148;) specifying the Corporate Taxpayer&#146;s intention to exercise such right and showing in reasonable detail the calculation of the Early Termination Payment for such Stockholder.&#160; The Early Termination Schedule shall become final and binding on a Stockholder 30 calendar days from the first date on which such Stockholder has received such Schedule or amendment thereto unless such Stockholder (i)&nbsp;within 30 calendar days after receiving the Early Termination Schedule, provides the Corporate Taxpayer with notice of a material objection to such Schedule made in good faith (&#147;<u>Material Objection Notice</u>&#148;) or (ii)&nbsp;provides a written waiver of such right of a Material Objection Notice within the period described in clause (i)&nbsp;above, in which case such Schedule becomes binding on the date the waiver is received by the Corporate Taxpayer (such 30 calendar day date as modified, if at all, by clauses (i)&nbsp;or (ii), the &#147;<u>Early Termination Effective Date</u>&#148;).&#160; If the Corporate Taxpayer and a Stockholder, for any reason, are unable to</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16<a name="26867-3-NI-03_PB_16_091230_9497"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=19,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=997105,FOLIO='16',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 08:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">successfully resolve the issues raised in such notice within 30 calendar days after receipt by the Corporate Taxpayer of the Material Objection Notice, the Corporate Taxpayer and such Stockholder shall employ the Reconciliation Procedures.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;4.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Payment upon Early Termination</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Within three Business Days after the Early Termination Effective Date, the Corporate Taxpayer shall pay to the applicable Stockholder an amount equal to the Early Termination Payment with respect to such Stockholder.&#160; Such payment shall be made by wire transfer of immediately available funds to a bank account or accounts designated by the applicable Stockholder or as otherwise agreed by the Corporate Taxpayer and such Stockholder.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Early Termination Payment</u>&#148;, with respect to a Stockholder, shall equal the present value, discounted at the Early Termination Rate as of the Early Termination Effective Date, of all Tax Benefit Payments that would be required to be paid by the Corporate Taxpayer to such Stockholder beginning from the Early Termination Date and assuming that the Valuation Assumptions are applied.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;V</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SUBORDINATION AND LATE PAYMENTS</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Subordination</font></u><font size="2" style="font-size:10.0pt;">. Notwithstanding any other provision of this Agreement to the contrary, any Tax Benefit Payment or Early Termination Payment required to be made by the Corporate Taxpayer to a Stockholder under this Agreement shall rank subordinate and junior in right of payment to any principal, interest or other amounts due and payable in respect of any obligations in respect of indebtedness for borrowed money of the Corporate Taxpayer and its Subsidiaries (&#147;<u>Senior Obligations</u>&#148;) and shall rank pari passu with all current or future unsecured obligations of the Corporate Taxpayer that are not Senior Obligations.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Late Payments by the Corporate Taxpayer</font></u><font size="2" style="font-size:10.0pt;">.&#160; The amount of all or any portion of any Tax Benefit Payment or Early Termination Payment not made to a Stockholder when due under the terms of this Agreement shall be payable together with any interest thereon, computed at the Default Rate and commencing from the date on which such Tax Benefit Payment or Early Termination Payment was due and payable.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;VI</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">NO DISPUTES; CONSISTENCY; COOPERATION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Participation in the Corporate Taxpayer&#146;s and OpCo&#146;s Tax Matters</font></u><font size="2" style="font-size:10.0pt;">.&#160; Except as otherwise provided herein, the Corporate Taxpayer shall have full responsibility for, and sole discretion over, all Tax matters concerning the Corporate Taxpayer and OpCo, including the preparation, filing or amending of any Tax Return and defending, contesting or settling any issue pertaining to Taxes.&#160; Notwithstanding the foregoing, the Corporate Taxpayer shall notify each Stockholder of, and keep such Stockholder reasonably informed with respect to, the portion of any audit of the Corporate Taxpayer and OpCo by a Taxing Authority the outcome of which is reasonably expected to affect the rights and</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17<a name="26867-3-NI-03_PB_17_091329_3641"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=20,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=439874,FOLIO='17',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 08:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">obligations of such Stockholder under this Agreement, and shall provide to such Stockholder reasonable opportunity to provide information and other input to the Corporate Taxpayer, OpCo and their respective advisors concerning the conduct of any such portion of such audit; <u>provided</u>, <u>however</u>, that the Corporate Taxpayer and OpCo shall not be required to take any action that is inconsistent with any provision of the LLC Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Consistency</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Corporate Taxpayer and the Stockholders agree to report and cause to be reported for all purposes, including federal, state and local Tax purposes and financial reporting purposes, all Tax-related items (including the Basis Adjustments and each Tax Benefit Payment) in a manner consistent with that specified by the Corporate Taxpayer in any Schedule required to be provided by or on behalf of the Corporate Taxpayer under this Agreement unless otherwise required by law. Any dispute as to required Tax or financial reporting shall be subject to Section&nbsp;7.09.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Cooperation</font></u><font size="2" style="font-size:10.0pt;">.&#160; Each of the Corporate Taxpayer and the Stockholders shall (a)&nbsp;furnish to the other party in a timely manner such information, documents and other materials as the other party may reasonably request for purposes of making any determination or computation necessary or appropriate under this Agreement, preparing any Tax Return or contesting or defending any audit, examination or controversy with any Taxing Authority, (b)&nbsp;make itself available to the other party and its representatives to provide explanations of documents and materials and such other information as the other party or its representatives may reasonably request in connection with any of the matters described in clause (a)&nbsp;above, and (c)&nbsp;reasonably cooperate in connection with any such matter, and the Corporate Taxpayer shall reimburse each Stockholder for any reasonable third-party costs and expenses incurred pursuant to this Section&nbsp;6.03.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;VII</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">MISCELLANEOUS</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Notices</font></u><font size="2" style="font-size:10.0pt;">.&#160; All notices, requests and other communications to any party hereunder shall be in writing (including facsimile transmission and electronic mail (&#147;<u>e-mail</u>&#148;) transmission, so long as a receipt of such e-mail is requested and received) and shall be given to such party as set forth below, or pursuant to such other instructions as may be designated in writing by the party to receive such notice:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If to the Corporate Taxpayer, addressed to it at:</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Virtu Financial LLC <br> 645 Madison Avenue<br> New York, New York&#160; 10022<br> Attention: Legal Department<br> Facsimile No.: (212) 418-0100<br> E-mail: legal@virtu.com</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">With copies (which shall not constitute notice) to:</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison LLP</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18<a name="26867-3-NI-03_PB_18_091436_5250"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=21,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=79390,FOLIO='18',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 08:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1285 Avenue of the Americas</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New York, NY&#160; 10019-6064</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="80%" style="border-collapse:collapse;margin-left:1.5in;width:80.0%;">
<tr>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile No.:</font></p>    </td>
<td width="75%" valign="top" style="padding:0in 0in 0in 0in;width:75.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(212) 757-3990</font></p>    </td>   </tr>
<tr>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:</font></p>    </td>
<td width="75%" valign="top" style="padding:0in 0in 0in 0in;width:75.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">John C. Kennedy</font></p>    </td>   </tr>
<tr>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="75%" valign="top" style="padding:0in 0in 0in 0in;width:75.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Jeffrey D. Marell</font></p>    </td>   </tr>
<tr>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">E-mail:</font></p>    </td>
<td width="75%" valign="top" style="padding:0in 0in 0in 0in;width:75.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">jkennedy@paulweiss.com</font></p>    </td>   </tr>
<tr>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="75%" valign="top" style="padding:0in 0in 0in 0in;width:75.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">jmarell@paulweiss.com</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If to the SLP Stockholder, addressed to it at:</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">c/o Silver Lake</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2775 Sand Hill Road, Suite&nbsp;100</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Menlo Park, California 94025</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Telephone: (650) 233-8120</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:&#160; Karen King</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile: (650) 233-8125</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">E-mail: karen.king@silverlake.com</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9 West 57th Street, 32nd Floor</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New York, NY 10019</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Telephone: (212) 981-5600</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention: Andrew J. Schader</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile: (212) 981-3535</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">E-mail: andy.schader@silverlake.com</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">With copies (which shall not constitute notice) to:</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Simpson Thacher&nbsp;&amp; Bartlett LLP</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2475 Hanover Street</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Palo Alto, California 94304</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="80%" style="border-collapse:collapse;margin-left:1.5in;width:80.0%;">
<tr>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:</font></p>    </td>
<td width="75%" valign="top" style="padding:0in 0in 0in 0in;width:75.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rich Capelouto</font></p>    </td>   </tr>
<tr>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="75%" valign="top" style="padding:0in 0in 0in 0in;width:75.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Atif I. Azher</font></p>    </td>   </tr>
<tr>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile No.:</font></p>    </td>
<td width="75%" valign="top" style="padding:0in 0in 0in 0in;width:75.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(650) 251-5002</font></p>    </td>   </tr>
<tr>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">E-mail:</font></p>    </td>
<td width="75%" valign="top" style="padding:0in 0in 0in 0in;width:75.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">rcapelouto@stblaw.com</font></p>    </td>   </tr>
<tr>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="75%" valign="top" style="padding:0in 0in 0in 0in;width:75.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">aazher@stblaw.com</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If to the Temasek Stockholder, addressed to it at:</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Temasek Holdings (Private) Limited</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14th Floor, 375 Park Avenue</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New York, NY 10152</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="80%" style="border-collapse:collapse;margin-left:1.5in;width:80.0%;">
<tr>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:</font></p>    </td>
<td width="75%" valign="top" style="padding:0in 0in 0in 0in;width:75.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mukul Chawla</font></p>    </td>   </tr>
<tr>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Email:</font></p>    </td>
<td width="75%" valign="top" style="padding:0in 0in 0in 0in;width:75.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">mukul@temasek.com.sg</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Temasek Holdings (Private) Limited</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19<a name="26867-3-NI-03_PB_19_091945_7672"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=22,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=733198,FOLIO='19',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 08:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">60b Orchard Road</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">#06-18 Tower 2</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Atrium@Orchard</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Singapore 238891</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="80%" style="border-collapse:collapse;margin-left:1.5in;width:80.0%;">
<tr>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:</font></p>    </td>
<td width="75%" valign="top" style="padding:0in 0in 0in 0in;width:75.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pradyumna Agrawal</font></p>    </td>   </tr>
<tr>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Email:</font></p>    </td>
<td width="75%" valign="top" style="padding:0in 0in 0in 0in;width:75.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">pradyumna@temasek.com.sg</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">With copies (which shall not constitute notice) to:</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cravath, Swaine&nbsp;&amp; Moore LLP</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">825 Eighth Avenue</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New York, NY 10019</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="80%" style="border-collapse:collapse;margin-left:1.5in;width:80.0%;">
<tr>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:</font></p>    </td>
<td width="75%" valign="top" style="padding:0in 0in 0in 0in;width:75.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Damien R. Zoubek</font></p>    </td>   </tr>
<tr>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile:</font></p>    </td>
<td width="75%" valign="top" style="padding:0in 0in 0in 0in;width:75.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(212) 474-3700</font></p>    </td>   </tr>
<tr>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Email:</font></p>    </td>
<td width="75%" valign="top" style="padding:0in 0in 0in 0in;width:75.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">dzoubek@cravath.com</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="80%" style="border-collapse:collapse;margin-left:1.5in;width:80.0%;">
<tr>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:</font></p>    </td>
<td width="75%" valign="top" style="padding:0in 0in 0in 0in;width:75.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ting S. Chen</font></p>    </td>   </tr>
<tr>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile:</font></p>    </td>
<td width="75%" valign="top" style="padding:0in 0in 0in 0in;width:75.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(212) 474-3700</font></p>    </td>   </tr>
<tr>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Email:</font></p>    </td>
<td width="75%" valign="top" style="padding:0in 0in 0in 0in;width:75.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">tchen@cravath.com</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All such notices, requests and other communications shall be deemed received on the date of receipt by the recipient thereof if received prior to 5:00&nbsp;p.m. on a Business Day in the place of receipt.&#160; Otherwise, any such notice, request or communication shall be deemed to have been received on the next succeeding Business Day in the place of receipt.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Binding Effect; Benefit; Assignment</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The provisions of this Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns.&#160; No provision of this Agreement is intended to confer any rights, benefits, remedies, obligations or liabilities hereunder upon any Person other than the parties hereto and their respective successors and assigns.&#160; The Corporate Taxpayer shall require and cause any direct or indirect successor (whether by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Corporate Taxpayer, by written agreement, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Corporate Taxpayer would be required to perform if no such succession had taken place.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">A Stockholder may assign any of its rights under this Agreement to any Person as long as such transferee has executed and delivered, or, in connection with such transfer, executes and delivers, a joinder to this Agreement, in form of Exhibit&nbsp;A, agreeing to become a &#147;Stockholder&#148; for all purposes of this Agreement, except as otherwise provided in such joinder; <u>provided</u>, that a Stockholder&#146;s rights under this Agreement shall be assignable by such Stockholder under the procedure in this Section&nbsp;7.02(b)&nbsp;regardless of whether such Stockholder continues to hold any interests in the Corporate Taxpayer or has fully transferred any such interests.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20<a name="26867-3-NI-03_PB_20_092750_536"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=23,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=10559,FOLIO='20',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 08:56 2015' -->

<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.03&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Resolution of Disputes</u>.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Except for Reconciliation Disputes subject to Section&nbsp;7.09, any and all disputes which cannot be settled amicably, including any ancillary claims of any party, arising out of, relating to or in connection with the validity, negotiation, execution, interpretation, performance or non-performance of this Agreement (including the validity, scope and enforceability of this arbitration provision) (each a &#147;<u>Dispute</u>&#148;) shall be finally settled by arbitration conducted by a single arbitrator in Delaware in accordance with the then-existing Rules&nbsp;of Arbitration of the International Chamber of Commerce. If the parties to the Dispute fail to agree on the selection of an arbitrator within ten (10)&nbsp;days of the receipt of the request for arbitration, the International Chamber of Commerce shall make the appointment. The arbitrator shall be a lawyer admitted to the practice of law in the State of Delaware and shall conduct the proceedings in the English language.&#160; Performance under this Agreement shall continue if reasonably possible during any arbitration proceedings.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Notwithstanding the provisions of paragraph (a), the Corporate Taxpayer may bring an action or special proceeding in any court of competent jurisdiction for the purpose of compelling a party to arbitrate, seeking temporary or preliminary relief in aid of an arbitration hereunder, and/or enforcing an arbitration award and, for the purposes of this paragraph (b), each Stockholder (i)&nbsp;expressly consents to the application of paragraph (c)&nbsp;of this Section&nbsp;7.03 to any such action or proceeding, (ii)&nbsp;agrees that proof shall not be required that monetary damages for breach of the provisions of this Agreement would be difficult to calculate and that remedies at law would be inadequate, and (iii)&nbsp;irrevocably appoints the Corporate Taxpayer as agent of such Stockholder for service of process in connection with any such action or proceeding and agrees that service of process upon such agent, who shall promptly advise such Stockholder of any such service of process, shall be deemed in every respect effective service of process upon such Stockholder in any such action or proceeding.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; EACH PARTY HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF THE CHANCERY COURT OF THE STATE OF DELAWARE OR,&nbsp;IF SUCH COURT DECLINES JURISDICTION, THE COURTS OF THE STATE OF DELAWARE SITTING IN WILMINGTON, DELAWARE, AND OF THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF DELAWARE SITTING IN WILMINGTON, DELAWARE, AND ANY APPELLATE COURT FROM ANY THEREOF, FOR THE PURPOSE OF ANY JUDICIAL PROCEEDING BROUGHT IN ACCORDANCE WITH THE PROVISIONS OF THIS SECTION&nbsp;7.03, OR ANY JUDICIAL PROCEEDING ANCILLARY TO AN ARBITRATION OR CONTEMPLATED ARBITRATION ARISING OUT OF OR RELATING TO OR CONCERNING THIS AGREEMENT. Such ancillary judicial proceedings include any suit, action or proceeding to compel arbitration, to obtain temporary or preliminary judicial relief in aid of arbitration, or to confirm an arbitration award. The parties acknowledge that the fora designated by this paragraph (c)&nbsp;have a reasonable relation to this Agreement, and to the parties&#146; relationship with one another.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The parties hereby waive, to the fullest extent permitted by applicable law, any objection which they now or hereafter may have to personal jurisdiction or to the laying of venue of any such ancillary suit, action or proceeding brought in any court referred to in the preceding paragraph of this Section&nbsp;7.03 and such parties agree not to plead or claim the same.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21<a name="26867-3-NI-05_PB_21_093210_4688"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=24,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=230136,FOLIO='21',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 10:07 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.04&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Counterparts</u>.&#160; This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.&#160; Until and unless each party has received a counterpart hereof signed by the other party hereto, this Agreement shall have no effect and no party shall have any right or obligation hereunder (whether by virtue of any other oral or written agreement or other communication).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.05&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Entire Agreement</u>.&#160; This Agreement and the other Reorganization Documents (as such term is defined in the LLC Agreement) constitute the entire agreement between the parties with respect to the subject matter of this Agreement and supersede all prior agreements and understandings, both oral and written, between the parties with respect to the subject matter of this Agreement.&#160; Except to the extent provided in Section&nbsp;3.03, nothing in this Agreement shall create any third-party beneficiary rights in favor of any Person or other party hereto.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.06&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Severability</u>.&#160; If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction or other Governmental Authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party.&#160; Upon such a determination, the parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the fullest extent possible.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.07&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Amendment</u>.&#160; No provision of this Agreement may be amended unless such amendment is approved in writing by the Corporate Taxpayer and the Stockholders.&#160; No provision of this Agreement may be waived unless such waiver is in writing and signed by the party against whom the waiver is to be effective.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.08&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Governing Law</u>.&#160; This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to the conflicts of law rules&nbsp;of such State that would result in the application of the laws of any other State.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.09&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Reconciliation</u>.&#160; In the event that the Corporate Taxpayer and a Stockholder are unable to resolve a disagreement with respect to the matters governed by Sections 2.03, 3.01(b), 4.02 and 6.02 within the relevant period designated in this Agreement (&#147;<u>Reconciliation Dispute</u>&#148;), the Reconciliation Dispute shall be submitted for determination to a nationally recognized expert (the &#147;<u>Expert</u>&#148;) in the particular area of disagreement mutually acceptable to both parties. The Expert shall be a partner or principal in a nationally recognized accounting or law firm, and unless the Corporate Taxpayer and such Stockholder agree otherwise, the Expert shall not, and the firm that employs the Expert shall not, have any material relationship with the Corporate Taxpayer or such Stockholder or other actual or potential conflict of interest.&#160; If the parties are unable to agree on an Expert within fifteen (15) calendar days of receipt by the respondent(s)&nbsp;of written notice of a Reconciliation Dispute, the Expert shall be appointed by the International Chamber of Commerce Centre for Expertise. The Expert shall resolve any matter relating to the Exchange Basis Schedule or an amendment thereto or the Early</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22<a name="26867-3-NI-05_PB_22_093316_2983"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=25,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=292513,FOLIO='22',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 10:07 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Termination Schedule or an amendment thereto within 30 calendar days and shall resolve any matter relating to a Tax Benefit Schedule or an amendment thereto within 15 calendar days or as soon thereafter as is reasonably practicable, in each case after the matter has been submitted to the Expert for resolution.&nbsp; Notwithstanding the preceding sentence, if the matter is not resolved before any payment that is the subject of a disagreement would be due (in the absence of such disagreement) or any Tax Return reflecting the subject of a disagreement is due, the undisputed amount shall be paid on the date prescribed by this Agreement and such Tax Return may be filed as prepared by the Corporate Taxpayer, subject to adjustment or amendment upon resolution.&nbsp; The costs and expenses relating to the engagement of such Expert or amending any Tax Return shall be borne by the Corporate Taxpayer, except as provided in the next sentence.&nbsp; The Corporate Taxpayer and such Stockholder shall bear their own costs and expenses of such proceeding, unless (i)&nbsp;the Expert substantially adopts such Stockholder&#146;s position, in which case the Corporate Taxpayer shall reimburse such Stockholder for any reasonable out-of-pocket costs and expenses in such proceeding, or (ii)&nbsp;the Expert substantially adopts the Corporate Taxpayer&#146;s position, in which case such Stockholder shall reimburse the Corporate Taxpayer for any reasonable out-of-pocket costs and expenses in such proceeding.&nbsp; Any dispute as to whether a dispute is a Reconciliation Dispute within the meaning of this Section&nbsp;7.09 shall be decided by the Expert.&nbsp; The Expert shall finally determine any Reconciliation Dispute and the determinations of the Expert pursuant to this Section&nbsp;7.09 shall be binding on the Corporate Taxpayer and such Stockholder and may be entered and enforced in any court having jurisdiction.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.10&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Withholding</u>.&#160; The Corporate Taxpayer shall be entitled to deduct and withhold from any payment payable pursuant to this Agreement such amounts as the Corporate Taxpayer is required to deduct and withhold with respect to the making of such payment under the Code or any provision of state, local or foreign tax law. To the extent that amounts are so withheld and paid over to the appropriate Taxing Authority by the Corporate Taxpayer, such withheld amounts shall be treated for all purposes of this Agreement as having been paid to the applicable Stockholder. The Corporate Taxpayer and the Stockholders agree that Imputed Interest qualifies, under the law in effect on the date hereof, as &#147;portfolio interest&#148; within the meaning of Sections 871(h)&nbsp;and 881(c)&nbsp;of the Code and shall not take any contrary position on any Tax Return or in any communication with any Taxing Authority unless required by a final determination or a change in applicable law (in which case Section&nbsp;7.13 shall apply).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.11&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Admission of the Corporate Taxpayer into a Consolidated Group; Transfers of Corporate Assets</u>.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; If the Corporate Taxpayer is or becomes a member of an affiliated or consolidated group of corporations that files a consolidated income tax return pursuant to Sections 1501 et seq. of the Code or any corresponding provisions of state or local law, then: (i)&nbsp;the provisions of this Agreement shall be applied with respect to the group as a whole; and (ii)&nbsp;Tax Benefit Payments, Early Termination Payments and other applicable items hereunder shall be computed with reference to the consolidated taxable income of the group as a whole.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; If any entity that is obligated to make a Tax Benefit Payment or Early Termination Payment hereunder transfers one or more assets to a corporation (or a Person classified as a corporation for U.S. federal income tax purposes) with which such entity does not</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23<a name="26867-3-NI-05_PB_23_093403_6228"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=26,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=37193,FOLIO='23',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 10:07 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">file a consolidated tax return pursuant to Section&nbsp;1501 of the Code, such entity, for purposes of calculating the amount of any Tax Benefit Payment or Early Termination Payment (e.g., calculating the gross income of the entity and determining the Realized Tax Benefit of such entity) due hereunder, shall be treated as having disposed of such asset in a fully taxable transaction on the date of such contribution.&nbsp; The consideration deemed to be received by such entity shall be equal to the fair market value of the contributed asset.&#160; For purposes of this Section&nbsp;7.11, a transfer of a partnership interest shall be treated as a transfer of the transferring partner&#146;s share of each of the assets and liabilities of that partnership.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.12&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Confidentiality</u>.&#160; Section&nbsp;12.11 (Confidentiality) of the LLC Agreement as of the date of this Agreement shall apply to any information of the Corporate Taxpayer provided to the Stockholders and their assignees pursuant to this Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.13&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Change in Law</u>.&#160; Notwithstanding anything herein to the contrary, if, in connection with an actual or proposed change in law, a Stockholder reasonably believes that the existence of this Agreement could cause income (other than income arising from receipt of a payment under this Agreement) recognized by such Stockholder (or direct or indirect equity holders in such Stockholder) upon an Exchange to be treated as ordinary income rather than capital gain (or otherwise taxed at ordinary income rates) for U.S. federal income tax purposes or would have other material adverse tax consequences to the Corporate Taxpayer or such Stockholder or any direct or indirect owner of such Stockholder, then at the election of such Stockholder and to the extent specified by such Stockholder, this Agreement (i)&nbsp;shall cease to have further effect with respect to such Stockholder, (ii)&nbsp;shall not apply to an Exchange occurring after a date specified by such Stockholder, or (iii)&nbsp;shall otherwise be amended in a manner determined by such Stockholder; <u>provided</u>, that such amendment shall not result in an increase in payments under this Agreement to such Stockholder at any time as compared to the amounts and times of payments that would have been due to such Stockholder in the absence of such amendment.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Remainder of Page&nbsp;Intentionally Left Blank]</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24<a name="26867-3-NI-05_PB_24_093421_6479"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=27,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=229409,FOLIO='24',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 10:07 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IN WITNESS WHEREOF, the Corporate Taxpayer and the Stockholders set forth below have duly executed this Agreement as of the date first written above.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">CORPORATE   TAXPAYER</font></u><font size="2" style="font-size:10.0pt;">:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIRTU   FINANCIAL,&nbsp;INC.</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="45%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:45.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>
<td width="38%" valign="top" style="padding:0in 0in 0in 0in;width:38.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>
<td width="38%" valign="top" style="padding:0in 0in 0in 0in;width:38.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Signature Page&nbsp;to Tax Receivable Agreement (Mergers)</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=28,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=336213,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 10:07 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">SLP   STOCKHOLDER</font></u><font size="2" style="font-size:10.0pt;">:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SLP   III EW FEEDER I, L.P.</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="45%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:45.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:6.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>
<td width="38%" valign="top" style="border:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:38.88%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>
<td width="38%" valign="top" style="padding:0in 0in 0in 0in;width:38.88%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 3.3in;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Signature Page&nbsp;to Tax Receivable Agreement (Mergers)</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=29,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=1046952,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 10:07 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">TEMASEK   STOCKHOLDER</font></u><font size="2" style="font-size:10.0pt;">:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">HAVELOCK   FUND INVESTMENTS PTE LTD.</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="45%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:45.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>
<td width="38%" valign="top" style="padding:0in 0in 0in 0in;width:38.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>
<td width="38%" valign="top" style="padding:0in 0in 0in 0in;width:38.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 3.3in;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Signature Page&nbsp;to Tax Receivable Agreement (Mergers)</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=30,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=412719,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 10:07 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit&nbsp;A</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Form&nbsp;of Joinder</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This JOINDER (this &#147;<u>Joinder</u>&#148;) to the Tax Receivable Agreement (as defined below), dated as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, by and among Virtu Financial,&nbsp;Inc., a Delaware corporation (the &#147;<u>Corporate Taxpayer</u>&#148;), and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (&#147;<u>Permitted Transferee</u>&#148;).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, Permitted Transferee acquired (the &#147;<u>Acquisition</u>&#148;) the right to receive any and all payments that may become due and payable under the Tax Receivable Agreement (as defined below) (the &#147;<u>Acquired Interests</u>&#148;) from &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (&#147;Transferor&#148;); and</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, Transferor, in connection with the Acquisition, has required Permitted Transferee to execute and deliver this Joinder pursuant to Section&nbsp;7.02(b)&nbsp;of the Tax Receivable Agreement (Mergers), dated as of [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], 2015, by and among the Corporate Taxpayer, SLP III EW Feeder I, L.P., a Delaware limited partnership, and Havelock Fund Investments Pte Ltd., a Singapore private limited company (the &#147;<u>Tax Receivable Agreement</u>&#148;).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NOW, THEREFORE, in consideration of the foregoing and the respective covenants and agreements set forth herein, and intending to be legally bound hereby, the parties hereto agree as follows:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;1.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Definitions</u>.&#160; To the extent capitalized words used in this Joinder are not defined in this Joinder, such words shall have the respective meanings set forth in the Tax Receivable Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;1.02&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Joinder</u>.&#160; Permitted Transferee hereby acknowledges and agrees to become a &#147;Stockholder&#148; (as defined in the Tax Receivable Agreement) for all purposes of the Tax Receivable Agreement.&#160; Permitted Transferee hereby acknowledges the terms of Section&nbsp;7.02(b)&nbsp;of the Tax Receivable Agreement and agrees to be bound by Section&nbsp;7.12 of the Tax Receivable Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;1.03&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Notice</u>.&#160; Any notice, request, consent, claim, demand, approval, waiver or other communication hereunder to Permitted Transferee shall be delivered or sent to Permitted Transferee at the address set forth on the signature page&nbsp;hereto in accordance with Section&nbsp;7.01 of the Tax Receivable Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;1.04&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Governing Law</u>. This Joinder shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to the conflicts of law rules&nbsp;of such State that would result in the application of the laws of any other State.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IN WITNESS WHEREOF, this Joinder has been duly executed and delivered by Permitted Transferee as of the date first above written.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=31,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=214430,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 10:07 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[PERMITTED   TRANSFEREE]</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="45%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:45.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>
<td width="38%" valign="top" style="padding:0in 0in 0in 0in;width:38.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>
<td width="38%" valign="top" style="padding:0in 0in 0in 0in;width:38.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Address   for notices:</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=32,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="5",CHK=468141,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NI-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 10:07 2015' -->

<BR>
<!-- TOCEXISTFLAG -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.8
<SEQUENCE>6
<FILENAME>a2223212zex-10_8.htm
<DESCRIPTION>EX-10.8
<TEXT>
<HTML>
<HEAD>
</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>
<div>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 10.8</font></b></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<div style="border:none;border-top:double windowtext 1.5pt;padding:1.0pt 0in 0in 0in;">
<p align="right" style="border:none;margin:0in 0in .0001pt;padding:0in;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
</div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">TAX RECEIVABLE AGREEMENT (SLP EXCHANGES)</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">among</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIRTU FINANCIAL,&nbsp;INC.,</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">and</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">THE PERSONS NAMED HEREIN</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Dated as of [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], 2015</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="border:none;border-bottom:double windowtext 1.5pt;padding:0in 0in 1.0pt 0in;">
<p align="center" style="border:none;margin:0in 0in .0001pt;padding:0in;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
</div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=1,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=624696,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 08:58 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">TABLE OF CONTENTS</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="36%" valign="bottom" style="padding:0in 0in 0in 0in;width:36.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="43%" valign="bottom" style="padding:0in 0in 0in 0in;width:43.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="6%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:6.66%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Page</font></b></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="93%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:93.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;I DEFINITIONS</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;1.01</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Definitions</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="93%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:93.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;II DETERMINATION OF   REALIZED TAX BENEFIT</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.01</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Basis Adjustment</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.02</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Realized Tax Benefit and Realized Tax Detriment</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.03</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Procedures, Amendments</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="93%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:93.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;III TAX BENEFIT   PAYMENTS</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.01</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Payments</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.02</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">No Duplicative Payments</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.03</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pro Rata Payments; Coordination of Benefits With Other Tax   Receivable Agreements</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="93%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:93.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;IV TERMINATION</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;4.01</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Termination, Early Termination and Breach of Agreement</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;4.02</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Early Termination Notice</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;4.03</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Payment upon Early Termination</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="93%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:93.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;V SUBORDINATION AND   LATE PAYMENTS</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.01</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Subordination</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.02</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Late Payments by the Corporate Taxpayer</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="93%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:93.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;VI NO DISPUTES;   CONSISTENCY; COOPERATION</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.01</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Participation in the Corporate Taxpayer&#146;s and OpCo&#146;s Tax   Matters</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.02</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consistency</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.03</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cooperation</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="93%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:93.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;VII MISCELLANEOUS</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.01</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notices</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.02</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Binding Effect; Benefit; Assignment</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.03</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Resolution of Disputes</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.04</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Counterparts</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.05</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Entire Agreement</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.06</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Severability</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.07</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.08</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Governing Law</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.09</font></p>    </td>
<td width="80%" colspan="2" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Reconciliation</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">i<a name="26867-3-NK-01_PB_i_090716_7056"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=2,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=307524,FOLIO='i',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 08:58 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.10</font></p>    </td>
<td width="80%" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Withholding</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.11</font></p>    </td>
<td width="80%" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Admission of the Corporate Taxpayer into a Consolidated   Group; Transfers of Corporate Assets</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.12</font></p>    </td>
<td width="80%" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Confidentiality</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.13</font></p>    </td>
<td width="80%" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Change in Law</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.14</font></p>    </td>
<td width="80%" valign="bottom" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Partnership Agreement</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ii<a name="26867-3-NK-01_PB_ii_090719_5335"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=3,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=590252,FOLIO='ii',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 08:58 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">TAX RECEIVABLE AGREEMENT (SLP EXCHANGES)</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This TAX RECEIVABLE AGREEMENT (SLP EXCHANGES) (as amended from time to time, this &#147;<u>Agreement</u>&#148;), dated as of [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], 2015, is hereby entered into by and among Virtu Financial,&nbsp;Inc., a Delaware corporation (the &#147;<u>Corporate Taxpayer</u>&#148;), each of the undersigned parties hereto identified as &#147;<u>Members</u>,&#148; and each of the successors and assigns thereto.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, Virtu Financial LLC, a Delaware limited liability company (&#147;<u>OpCo</u>&#148;), is treated as a partnership for U.S. federal income tax purposes;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the Corporate Taxpayer is classified as an association taxable as a corporation for U.S. federal income tax purposes;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the Members hold common interest units in OpCo (the &#147;<u>Common Units</u>&#148;), and following certain reorganization transactions, the Corporate Taxpayer will be the managing member of OpCo and will hold, directly and/or indirectly, Common Units;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, (i)&nbsp;in connection with the IPO (as defined below), each Member shall sell to the Corporate Taxpayer, and the Corporate Taxpayer shall purchase from such Member, a number of Common Units (together with shares of Class&nbsp;C common stock, $0.00001 par value per share, of the Corporate Taxpayer (&#147;<u>Class&nbsp;C Common Stock</u>&#148;)) pursuant to the provisions of the Member Purchase Agreement (as defined below) and (ii)&nbsp;in connection with a future public offering of Class&nbsp;A Common Stock of the Corporate Taxpayer, one or more Members may sell to the Corporate Taxpayer, and the Corporate Taxpayer may purchase from such Member, a number of Common Units (together with shares of Class&nbsp;C Common Stock) pursuant to the provisions of a future purchase agreement by and among the Corporate Taxpayer, OpCo and the relevant sellers;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, each Member may exchange Common Units (when exchanged along with shares of Class&nbsp;C common stock) for shares of Class&nbsp;A common stock, $0.00001 par value per share, of the Corporate Taxpayer (the &#147;<u>Class&nbsp;A Common Stock</u>&#148;) pursuant to the provisions of the Exchange Agreement (as defined below);</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, OpCo and each of its direct and indirect subsidiaries treated as a partnership for U.S. federal income tax purposes will have in effect an election under Section&nbsp;754 of the Internal Revenue Code of 1986, as amended (the &#147;<u>Code</u>&#148;), for each Taxable Year (as defined below) in which an Exchange (as defined below) occurs, which elections are intended generally to result in an adjustment to the tax basis of the assets owned by OpCo (solely with respect to the Corporate Taxpayer) at the time of an Exchange (such time, the &#147;<u>Exchange Date</u>&#148;) by reason of the Exchange and the receipt of payments under this Agreement;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the income, gain, loss, expense and other Tax (as defined below) items of the Corporate Taxpayer may be affected by (i)&nbsp;the Basis Adjustment (as defined below) and (ii)&nbsp;Imputed Interest (as defined below); and</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=4,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=636338,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 08:58 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the parties to this Agreement desire to make certain arrangements with respect to the effect of the Basis Adjustment and Imputed Interest on the actual liability for Taxes of the Corporate Taxpayer.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NOW, THEREFORE, in consideration of the foregoing and the respective covenants and agreements set forth herein, and intending to be legally bound hereby, the parties hereto agree as follows:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;I</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">DEFINITIONS</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;1.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Definitions</u>.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The following terms shall have the following meanings for the purposes of this Agreement:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Agreed Rate</u>&#148; means LIBOR plus 100 basis points.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Applicable Member</u>&#148; means any Member to whom any portion of a Realized Tax Benefit may be Attributable under this Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Attributable</u>&#148; means, with respect to any Applicable Member, the portion of any Realized Tax Benefit of the Corporate Taxpayer that is &#147;attributable&#148; to such Applicable Member, which shall be determined by reference to the assets from which arise the depreciation, amortization or other similar deductions for recovery of cost or basis (&#147;<u>Depreciation</u>&#148;) and with respect to increased basis upon a disposition of an asset or Imputed Interest that produce the Realized Tax Benefit, under the following principles:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; A portion of any Realized Tax Benefit arising from a deduction to the Corporate Taxpayer with respect to a Taxable Year for Depreciation arising in respect of a Basis Adjustment to a Reference Asset resulting from an Exchange is Attributable to the Applicable Member to the extent that the ratio of all Depreciation for the Taxable Year in respect of Basis Adjustments resulting from all Exchanges by the Applicable Member bears to the aggregate of all Depreciation for the Taxable Year in respect of Basis Adjustments resulting from all Exchanges by the Applicable Members (in each case, other than with respect to the portion of the Basis Adjustment described in clause (ii)&nbsp;below).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; A portion of any Realized Tax Benefit arising from a deduction to the Corporate Taxpayer with respect to a Taxable Year for Depreciation arising in respect of a Basis Adjustment to a Reference Asset resulting from a payment hereunder is Attributable to the Applicable Member that receives such payment.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; A portion of any Realized Tax Benefit arising from the disposition of a Reference Asset is Attributable to the Applicable Member to the extent that the ratio of all Basis Adjustments (to the extent not previously taken into account in the calculation of Realized Tax Benefits) resulting from all Exchanges by the Applicable Member with respect</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2<a name="26867-3-NK-01_PB_2_090845_5796"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=5,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=274824,FOLIO='2',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 08:58 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">to such Reference Asset bears to the aggregate of all Basis Adjustments (to the extent not previously taken into account in the calculation of Realized Tax Benefits) with respect to such Reference Asset.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; A portion of any Realized Tax Benefit arising from a deduction to the Corporate Taxpayer with respect to a Taxable Year in respect of Imputed Interest is Attributable to the Applicable Member to the extent corresponding to amounts that such Member is required to include in income in respect of Imputed Interest (without regard to whether such Member is actually subject to tax thereon).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; For the avoidance of doubt, in the case of a Basis Adjustment arising under Section&nbsp;734(b)&nbsp;of the Code with respect to an Exchange, depreciation, amortization or other similar deductions for recovery of cost of basis shall constitute Depreciation only to the extent that such depreciation, amortization or other similar deductions may produce or increase a Realized Tax Benefit (and not to the extent that such depreciation, amortization or other similar deductions may be for the benefit of a Person other than the Corporate Taxpayer), as reasonably determined by the Corporate Taxpayer.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; A portion of any Realized Tax Benefit arising from a carryover or carryback of any Tax item is Attributable to such Member to the extent such carryover or carryback is attributable to or available for use because of the prior use of the Basis Adjustments or Imputed Interest with respect to which a Realized Tax Benefit would be Attributable to such Member pursuant to clauses (i)&#151;(v)&nbsp;above.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Portions of any Realized Tax Detriment shall be Attributed to Members under principles similar to those described in clauses (i)&#151;(vi)&nbsp;above.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Basis Adjustment</u>&#148; means the adjustment to the tax basis of a Reference Asset under Sections 732, 755 and 1012 of the Code and the Treasury Regulations promulgated thereunder (in situations where, as a result of one or more Exchanges, OpCo becomes an entity that is disregarded as separate from its owner for U.S. federal income tax purposes) or under Sections 734(b), 743(b)&nbsp;and 755 of the Code and the Treasury Regulations promulgated thereunder (in situations where, following an Exchange, OpCo remains in existence as an entity for U.S. federal income tax purposes) and, in each case, comparable sections of state and local tax laws, as a result of (i)&nbsp;an Exchange, (ii)&nbsp;the applicable Historical Transaction and (iii)&nbsp;the payments made pursuant to the Tax Receivable Agreements.&#160; For the avoidance of doubt, the amount of any Basis Adjustment resulting from an Exchange (other than a Basis Adjustment resulting from a Historical Transaction or a Merger) of one or more Common Units shall be determined without regard to any Pre-Exchange Transfer of such Common Units and as if any such Pre-Exchange Transfer had not occurred.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A &#147;<u>Beneficial Owner</u>&#148; of a security is a Person who directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise, has or shares: (i)&nbsp;voting power, which includes the power to vote, or to direct the voting of, such security and/or (ii)&nbsp;investment power, which includes the power to dispose of, or to direct the disposition of, such security.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3<a name="26867-3-NK-01_PB_3_090908_2897"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=6,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=1043557,FOLIO='3',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 08:58 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Board</u>&#148; means the board of directors of the Corporate Taxpayer.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Business Day</u>&#148; shall have the meaning ascribed to such term in the LLC Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Change of Control</u>&#148; means the occurrence of any of the following events:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; any Person or any group of Persons acting together which would constitute a &#147;group&#148; for purposes of Section&nbsp;13(d)&nbsp;of the Securities and Exchange Act of 1934, or any successor provisions thereto, excluding (x)&nbsp;a corporation or other entity owned, directly or indirectly, by the stockholders of the Corporate Taxpayer in substantially the same proportions as their ownership of stock in the Corporate Taxpayer and (y)&nbsp;any Person that would be deemed an SL Member, Temasek Equityholder or Viola Member (as each such term is defined in the LLC Agreement, and assuming for this purpose that such Person owned Units or securities of the Corporate Taxpayer), is or becomes the Beneficial Owner, directly or indirectly, of securities of the Corporate Taxpayer representing more than 50% of the combined voting power of the Corporate Taxpayer&#146;s then outstanding voting securities; or</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the following individuals cease for any reason to constitute a majority of the number of directors of the Corporate Taxpayer then serving: individuals who, on the IPO Date, constitute the Board and any new director whose appointment or election by the Board or nomination for election by the Corporate Taxpayer&#146;s shareholders was approved or recommended by a vote of at least a majority of the directors then still in office who either were directors on the IPO Date or whose appointment, election or nomination for election was previously so approved or recommended by the directors referred to in this clause (ii); or</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; there is consummated a merger or consolidation of the Corporate Taxpayer with any other corporation or other entity, and, immediately after the consummation of such merger or consolidation, either (x)&nbsp;the Board immediately prior to the merger or consolidation does not constitute at least a majority of the board of directors of the company surviving the merger or, if the surviving company is a Subsidiary, the ultimate parent thereof, or (y)&nbsp;the voting securities of the Corporate Taxpayer immediately prior to such merger or consolidation do not continue to represent or are not converted into more than 50% of the combined voting power of the then outstanding voting securities of the Person resulting from such merger or consolidation or, if the surviving company is a Subsidiary, the ultimate parent thereof; or</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the shareholders of the Corporate Taxpayer approve a plan of complete liquidation or dissolution of the Corporate Taxpayer or there is consummated an agreement or series of related agreements for the sale or other disposition, directly or indirectly, by the Corporate Taxpayer of all or substantially all of the Corporate Taxpayer&#146;s assets, other than such sale or other disposition by the Corporate Taxpayer of all or substantially all of the Corporate Taxpayer&#146;s assets to an entity, at least 50% of the combined voting power of the voting securities of which are owned by shareholders of the Corporate Taxpayer in substantially the same proportions as their ownership of the Corporate Taxpayer immediately prior to such sale.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4<a name="26867-3-NK-01_PB_4_090930_3020"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=7,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=450088,FOLIO='4',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 08:58 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notwithstanding the foregoing, except with respect to clause (ii)&nbsp;and clause (iii)(x)&nbsp;above, a &#147;Change of Control&#148; shall not be deemed to have occurred by virtue of the consummation of any transaction or series of integrated transactions immediately following which the record holders of the shares of the Corporate Taxpayer immediately prior to such transaction or series of transactions continue to have substantially the same proportionate ownership in, and own substantially all of the shares of, an entity which owns all or substantially all of the assets of the Corporate Taxpayer immediately following such transaction or series of transactions.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Control</u>&#148; means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Corporate Taxpayer Return</u>&#148; means the federal and/or state and/or local Tax Return, as applicable, of the Corporate Taxpayer filed with respect to Taxes of any Taxable Year.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Cumulative Net Realized Tax Benefit</u>&#148; for a Taxable Year means the cumulative amount of Realized Tax Benefits for all Taxable Years of the Corporate Taxpayer, up to and including such Taxable Year, net of the cumulative amount of Realized Tax Detriments for the same period.&#160; The Realized Tax Benefit and Realized Tax Detriment for each Taxable Year shall be determined based on the most recent Tax Benefit Schedule or Amended Schedule, if any, in existence at the time of such determination.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Default Rate</u>&#148; means LIBOR plus 500 basis points.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Determination</u>&#148; shall have the meaning ascribed to such term in Section&nbsp;1313(a)&nbsp;of the Code or similar provision of state and local tax law, as applicable, or any other event (including the execution of IRS Form&nbsp;870-AD) that finally and conclusively establishes the amount of any liability for Tax and shall also include the acquiescence of the Corporate Taxpayer to the amount of any assessed liability for Tax.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Early Termination Date</u>&#148; means the date of an Early Termination Notice for purposes of determining the Early Termination Payment.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Early Termination Rate</u>&#148; means the lesser of (i)&nbsp;6.5% per annum, compounded annually, and (ii)&nbsp;LIBOR plus 100 basis points.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Exchange</u>&#148; means an acquisition of Common Units or a purchase of Common Units (i)&nbsp;by OpCo or the Corporate Taxpayer, including by way of an exchange of stock of the Corporate Taxpayer for Common Units pursuant to the Exchange Agreement, in each case occurring on or after the date of this Agreementor (ii)&nbsp;pursuant to the Merger (as defined in Tax Receivable Agreement (Mergers). Any reference in this Agreement to Common Units &#147;<u>Exchanged</u>&#148; is intended to denote Common Units subject to an Exchange.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Exchange Agreement</u>&#148; means that certain Exchange Agreement, dated as of the date hereof, by and among the Corporate Taxpayer, OpCo, and the other holders of Common</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5<a name="26867-3-NK-01_PB_5_090948_7748"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=8,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=865584,FOLIO='5',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 08:58 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Units and shares of Class&nbsp;C Common Stock and Class&nbsp;D common stock, $0.00001 par value per share, of the Corporate Taxpayer, from time to time party thereto.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Governmental Authority</u>&#148; has the meaning set forth in the LLC Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Historical Transaction</u>&#148; means (i)&nbsp;in the case of the SLP/Temasek Blocker, the indirect acquisition of interests in OpCo by the SLP/Temasek Blocker pursuant to the Transaction and Merger Agreement dated as of April&nbsp;17, 2011 among OpCo and the other parties thereto and (ii)&nbsp;in the case of the Temasek Blocker, the acquisition of interests in OpCo by the Temasek Blocker pursuant to the Equity Redemption and Purchase Agreement dated as of December&nbsp;7, 2014 among the Temasek Blocker, the Temasek Stockholder, the SLP Stockholder and the other parties thereto.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Hypothetical Tax Liability</u>&#148; means, with respect to any Taxable Year, the liability for Taxes of (i)&nbsp;the Corporate Taxpayer and (ii)&nbsp;without duplication, OpCo, but only with respect to Taxes imposed on OpCo and allocable to the Corporate Taxpayer (or to the other members of the consolidated group of which the Corporate Taxpayer is the parent), in each case using the same methods, elections, conventions and similar practices used on the relevant Corporate Taxpayer Return, but (w)&nbsp;using the Non-Stepped Up Tax Basis (as defined in each of the Tax Receivable Agreements) as reflected on the Exchange Basis Schedule, the Exchange Basis Schedule (as defined in the Tax Receivable Agreement (non-SLP Exchanges)) and the Merger Basis Schedule (as defined in the Tax Receivable Agreement (Mergers)), including amendments thereto for the Taxable Year, (x)&nbsp;without taking into account the use of NOLs, if any, (y)&nbsp;excluding any deduction attributable to Imputed Interest for the Taxable Year, and (z)&nbsp;without taking into account the carryover or carryback of any Tax item (or portions thereof) that is attributable to or (without duplication) available for use because of the prior use of any of the Basis Adjustments, NOLs or Imputed Interest.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Imputed Interest</u>&#148; shall mean any interest imputed under Section&nbsp;1272, 1274 or 483 or other provision of the Code and any similar provision of state and local tax law with respect to the Corporate Taxpayer&#146;s payment obligations under this Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>IPO</u>&#148; means the initial public offering of Class&nbsp;A Common Stock of the Corporate Taxpayer.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>IPO Date</u>&#148; means the closing date of the IPO.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>IRS</u>&#148; means the U.S. Internal Revenue Service.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>LIBOR</u>&#148; means during any period, an interest rate per annum equal to the one-year LIBOR reported, on the date two days prior to the first day of such period, on the Telerate Page&nbsp;3750 (or if such screen shall cease to be publicly available, as reported on Reuters Screen page&nbsp;&#147;LIBOR01&#148; or by any other publicly available source of such market rate) for London interbank offered rates for United States dollar deposits for such period.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>LLC Agreement</u>&#148; means the Second Amended and Restated Limited Liability Company Agreement of OpCo, dated as of the date hereof.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6<a name="26867-3-NK-01_PB_6_091017_141"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=9,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=792059,FOLIO='6',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 08:58 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Market Value</u>&#148; shall mean the closing price of the Class&nbsp;A Common Stock on the applicable Exchange Date on the national securities exchange or interdealer quotation system on which such Class&nbsp;A Common Stock is then traded or listed, as reported by the <i>Wall Street Journal</i>; <u>provided</u>, that if the closing price is not reported by the <i>Wall Street Journal</i> for the applicable Exchange Date, then the Market Value shall mean the closing price of the Class&nbsp;A Common Stock on the Business Day immediately preceding such Exchange Date on the national securities exchange or interdealer quotation system on which such Class&nbsp;A Common Stock is then traded or listed, as reported by the <i>Wall Street Journal</i>; <u>provided</u>, <u>further</u>, that if the Class&nbsp;A Common Stock is not then listed on a national securities exchange or interdealer quotation system, the Market Value shall mean the cash consideration paid for Class&nbsp;A Common Stock, or the fair market value of the other property delivered for Class&nbsp;A Common Stock, as determined by the Board in good faith.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Member Purchase Agreement</u>&#148; means that certain Purchase Agreement, dated as of the date hereof, by and among the Corporate Taxpayer, OpCo, and the other holders of Common Units and shares of Class&nbsp;C Common Stock.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Merger</u>&#148; shall have the meaning ascribed to such term in the Tax Receivable Agreement (Mergers).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>NOLs</u>&#148; shall have the meaning ascribed to such term in the Tax Receivable Agreement (Mergers).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Non-Stepped Up Tax Basis</u>&#148; means, with respect to any Reference Asset at any time, the Tax basis that such asset would have had at such time if no Basis Adjustments had been made.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Other Tax Receivable Agreements</u>&#148; means the Tax Receivable Agreement (non-SLP Exchanges) and the Tax Receivable Agreement (Mergers).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Payment Date</u>&#148; means any date on which a payment is required to be made pursuant to this Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Person</u>&#148; means any individual, corporation, firm, partnership, joint venture, limited liability company, estate, trust, business association, organization, governmental entity or other entity.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Pre-Exchange Transfer</u>&#148; means any transfer or distribution in respect of one or more Common Units (i)&nbsp;that occurs prior to an Exchange of such Common Units, and (ii)&nbsp;to which Section&nbsp;743(b)&nbsp;or 734(b)&nbsp;of the Code applies.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Realized Tax Benefit</u>&#148; means, for a Taxable Year, the excess, if any, of the Hypothetical Tax Liability over the actual liability for Taxes of (i)&nbsp;the Corporate Taxpayer and (ii)&nbsp;without duplication, OpCo, but only with respect to Taxes imposed on OpCo and allocable to the Corporate Taxpayer (or to the other members of the consolidated group of which the Corporate Taxpayer is the parent) for such Taxable Year.&nbsp; If all or a portion of the actual liability for such Taxes for the Taxable Year arises as a result of an audit by a Taxing Authority of any Taxable Year, such liability shall not be included in determining the Realized Tax Benefit unless and until there has been a Determination.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7<a name="26867-3-NK-01_PB_7_091048_7608"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=10,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=275357,FOLIO='7',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 08:58 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Realized Tax Detriment</u>&#148; means, for a Taxable Year, the excess, if any, of the actual liability for Taxes of (i)&nbsp;the Corporate Taxpayer and (ii)&nbsp;without duplication, OpCo, but only with respect to Taxes imposed on OpCo and allocable to the Corporate Taxpayer (or to the other members of the consolidated group of which the Corporate Taxpayer is the parent) for such Taxable Year, over the Hypothetical Tax Liability for such Taxable Year. &nbsp;If all or a portion of the actual liability for such Taxes for the Taxable Year arises as a result of an audit by a Taxing Authority of any Taxable Year, such liability shall not be included in determining the Realized Tax Detriment unless and until there has been a Determination.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Reference Asset</u>&#148; means an asset that is held by OpCo, or by any of its direct or indirect subsidiaries treated as a partnership or disregarded entity for purposes of the applicable Tax, at the time of an Exchange.&#160; A Reference Asset also includes any asset that is &#147;substituted basis property&#148; under Section&nbsp;7701(a)(42) of the Code with respect to a Reference Asset.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Schedule</u>&#148; means any of the following: (i)&nbsp;an Exchange Basis Schedule, (ii)&nbsp;a Tax Benefit Schedule, or (iii)&nbsp;the Early Termination Schedule.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>SLP/Temasek Blocker</u>&#148; means SLP III EW Feeder LLC (f/k/a SLP III EW Feeder Corp.), a Delaware limited liability company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>SLP Stockholder</u>&#148; means SLP III EW Feeder I, L.P., a Delaware limited partnership.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Subsidiaries</u>&#148; shall have the meaning ascribed to such term in the LLC Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Tax Receivable Agreement (non-SLP Exchanges)</u>&#148; means the Tax Receivable Agreement (non-SLP Exchanges), dated as of the date hereof, by and among the Corporate Taxpayer, and certain members of OpCo as of the date hereof (other than those members that are party to the Tax Receivable Agreement (Mergers), the Corporate Taxpayer, Virtu Sub III and Virtu Sub IV).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Tax Receivable Agreement (Mergers)</u>&#148; means the Tax Receivable Agreement (Mergers), dated as of the date hereof, by and among the Corporate Taxpayer, the SLP/Temasek Blocker, the Temasek Blocker, the SLP Stockholder, and the Temasek Stockholder.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Tax Receivable Agreements</u>&#148; means the Other Tax Receivable Agreements and this Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Tax Return</u>&#148; means any return, declaration, report or similar statement required to be filed with respect to Taxes (including any attached schedules), including any information return, claim for refund, amended return and declaration of estimated Tax.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Taxable Year</u>&#148; means a taxable year of the Corporate Taxpayer as defined in Section&nbsp;441(b)&nbsp;of the Code or comparable section of state or local tax law, as applicable (and, therefore, for the avoidance of doubt, may include a period of less than 12 months for which a Tax Return is made), ending on or after the IPO Date.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8<a name="26867-3-NK-01_PB_8_091106_8146"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
</div>
<!-- ZEQ.=1,SEQ=11,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=611610,FOLIO='8',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 21 08:58 2015' -->

<div>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Taxes</u>&#148; means any and all U.S. federal, state and local taxes, assessments or similar charges that are based on or measured with respect to net income or profits, and any interest related to such Tax.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Taxing Authority</u>&#148; shall mean any domestic, federal, national, state, county or municipal or other local government, any subdivision, agency, commission or authority thereof, or any quasi-governmental body exercising any taxing authority or any other authority exercising Tax regulatory authority.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Temasek Blocker</u>&#148; means Wilbur Investments LLC, a Delaware limited liability company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Temasek Stockholder</u>&#148; means Havelock Fund Investments Pte Ltd., a Singapore private limited company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Treasury Regulations</u>&#148; means the final, temporary and proposed regulations under the Code promulgated from time to time (including corresponding provisions and succeeding provisions) as in effect for the relevant taxable period.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Valuation Assumptions</u>&#148; shall mean, as of an Early Termination Date, the assumptions that (1)&nbsp;in each Taxable Year ending on or after such Early Termination Date, the Corporate Taxpayer will have taxable income sufficient to fully utilize the deductions arising from the Basis Adjustments and Imputed Interest during such Taxable Year or future Taxable Years (including, for the avoidance of doubt, Basis Adjustments and Imputed Interest that would result from future Tax Benefit Payments that would be paid in accordance with the Valuation Assumptions) in which such deductions would become available, (2)&nbsp;the U.S. federal income tax rates and state and local income tax rates that will be in effect for each such Taxable Year will be those specified for each such Taxable Year by the Code and other law as in effect on the Early Termination Date, (3)&nbsp;any loss carryovers generated by deductions arising from Basis Adjustments, the NOLs or Imputed Interest that are available as of such Early Termination Date will be utilized by the Corporate Taxpayer on a pro rata basis from the Early Termination Date through the scheduled expiration date of such loss carryovers, (4)&nbsp;any non-amortizable assets will be disposed of on the fifteenth anniversary of the applicable Basis Adjustment; <u>provided</u>, that in the event of a Change of Control, such non-amortizable assets shall be deemed disposed of at the time of sale of the relevant asset (if earlier than such fifteenth anniversary), and (5)&nbsp;if, at the Early Termination Date, there are Common Units that have not been Exchanged, then each such Common Unit shall be deemed to be Exchanged for the Market Value of the number of shares of Class&nbsp;A Common Stock and the amount of cash that would be transferred if the Exchange occurred on the Early Termination Date.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Each of the following terms is defined in the Section&nbsp;set forth opposite such term:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="73%" style="border-collapse:collapse;margin-left:1.0in;width:73.34%;">
<tr>
<td width="62%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Term</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.98%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="33%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:33.9%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Section</font></b></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Agreement</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amended   Schedule</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.03(b)</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Class&nbsp;A   Common Stock</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9<a name="26867-3-NK-03_PB_9_094921_7056"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=12,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=471028,FOLIO='9',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:34 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="73%" style="border-collapse:collapse;margin-left:1.0in;width:73.34%;">
<tr>
<td width="62%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Term</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:33.9%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Section</font></b></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Class&nbsp;C   Common Stock</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Code</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Common   Units</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Corporate   Taxpayer</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dispute</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.03(a)</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Early   Termination Effective Date</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.02</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Early   Termination Notice</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.02</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Early   Termination Payment</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.03(b)</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Early   Termination Schedule</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.02</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">e-mail</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.01</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exchange   Basis Schedule</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.01</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exchange   Date</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Expert</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.09</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interest   Amount</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.01(b)</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Material   Objection Notice</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.02</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Members</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net   Tax Benefit</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.01(b)</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Objection   Notice</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.03(a)</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">OpCo</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Reconciliation   Dispute</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.09</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Reconciliation   Procedures</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.03(a)</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Senior   Obligations</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.01</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Tax   Benefit Payment</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.01(b)</font></p>    </td>   </tr>
<tr>
<td width="62%" valign="top" style="padding:0in 0in 0in 0in;width:62.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Tax   Benefit Schedule</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.98%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.02(a)</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Other Definitional and Interpretative Provisions</u>.&#160; The words &#147;hereof&#148;, &#147;herein&#148; and &#147;hereunder&#148; and words of like import used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement.&#160; The captions herein are included for convenience of reference only and shall be ignored in the construction or interpretation hereof.&#160; References to Articles and Sections are to Articles and Sections of this Agreement unless otherwise specified.&#160; Any singular term in this Agreement shall be deemed to include the plural, and any plural term the singular.&#160; Whenever the words &#147;include&#148;, &#147;includes&#148; or &#147;including&#148; are used in this Agreement, they shall be deemed to be followed by the words &#147;without limitation&#148;, whether or not they are in fact followed by those words or words of like import.&#160; &#147;Writing&#148;, &#147;written&#148; and comparable terms refer to printing, typing and other means of reproducing words (including electronic media) in a visible form.&#160; References to any statute shall be deemed to refer to such statute as amended from time to time and to any rules&nbsp;or regulations promulgated thereunder.&#160; References to any agreement or contract are to that agreement or contract as amended, modified or supplemented from time to time in accordance with the terms hereof and thereof.&#160; References to any Person include the successors and permitted assigns of that Person.&#160; References from or through any date mean, unless otherwise specified, from and including or through and including, respectively.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10<a name="26867-3-NK-03_PB_10_095134_5335"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=13,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=999234,FOLIO='10',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:34 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;II</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">DETERMINATION OF REALIZED TAX BENEFIT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Basis Adjustment</u>.&#160; Within 120 calendar days after the filing of the U.S. federal income tax return of the Corporate Taxpayer for each Taxable Year in which any Exchange has been effected by any Member, the Corporate Taxpayer shall deliver to such Member a schedule (the &#147;<u>Exchange Basis Schedule</u>&#148;) that shows, in reasonable detail necessary to perform the calculations required by this Agreement, including with respect to each Exchanging party, (i)&nbsp;the Non-Stepped Up Tax Basis of the Reference Assets as of each applicable Exchange Date, (ii)&nbsp;the Basis Adjustments with respect to the Reference Assets as a result of the Exchanges effected in such Taxable Year, calculated (x)&nbsp;in the aggregate, (y)&nbsp;solely with respect to Exchanges by such Member and (z)&nbsp;in the case of a Basis Adjustment under Section&nbsp;734(b)&nbsp;of the Code solely with respect to the amount that is available to the Corporate Taxpayer in such Taxable Year, (iii)&nbsp;the period (or periods) over which the Reference Assets are amortizable and/or depreciable and (iv)&nbsp;the period (or periods) over which each Basis Adjustment is amortizable and/or depreciable.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.02&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Realized Tax Benefit and Realized Tax Detriment</u>.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Tax Benefit Schedule</u>.&#160; Within 120 calendar days after the filing of the U.S. federal income tax return of the Corporate Taxpayer for any Taxable Year in which there is a Realized Tax Benefit or Realized Tax Detriment a portion of which is Attributable to a Member, the Corporate Taxpayer shall provide to such Member a schedule showing, in reasonable detail and, at the request of such Member, with respect to each separate Exchange, the calculation of the Realized Tax Benefit or Realized Tax Detriment and the portion Attributable&#160; to such Member for such Taxable Year (a &#147;<u>Tax Benefit Schedule</u>&#148;).&#160; The Tax Benefit Schedule will become final as provided in Section&nbsp;2.03(a)&nbsp;and may be amended as provided in Section&nbsp;2.03(b)&nbsp;(subject to the procedures set forth in Section&nbsp;2.03(b)).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Applicable Principles</u>.&#160; The Realized Tax Benefit or Realized Tax Detriment for each Taxable Year is intended to measure the decrease or increase in the actual liability for Taxes of the Corporate Taxpayer for such Taxable Year attributable to the Basis Adjustments, the NOLs and Imputed Interest, determined using a &#147;with and without&#148; methodology.&#160; For the avoidance of doubt, the actual liability for Taxes will take into account the deduction of the portion of the Tax Benefit Payment that must be accounted for as interest under the Code based upon the characterization of Tax Benefit Payments as additional consideration payable by the Corporate Taxpayer for the Common Units acquired in an Exchange.&#160; Carryovers or carrybacks of any Tax item attributable to the Basis Adjustment, the NOLs or Imputed Interest shall be considered to be subject to the rules&nbsp;of the Code and the Treasury Regulations or the appropriate provisions of U.S. state and local income and franchise tax law, as applicable, governing the use, limitation and expiration of carryovers or carrybacks of the relevant type.&#160; If a carryover or carryback of any Tax item includes a portion that is attributable to the Basis Adjustment, the NOLs or Imputed Interest and another portion that is not, such portions shall be considered to be used in accordance with the &#147;with and without&#148; methodology.&#160; The parties agree that (i)&nbsp;all Tax Benefit Payments attributable to the Basis Adjustments (other than amounts accounted for as interest under the Code) will (A)&nbsp;be treated as subsequent upward purchase</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11<a name="26867-3-NK-03_PB_11_095204_5796"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=14,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=235625,FOLIO='11',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:34 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">price adjustments that give rise to further Basis Adjustments to Reference Assets for the Corporate Taxpayer and (B)&nbsp;have the effect of creating additional Basis Adjustments to Reference Assets for the Corporate Taxpayer in the year of payment, and (ii)&nbsp;as a result, such additional Basis Adjustments will be incorporated into the current year calculation and into future year calculations, as appropriate.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.03&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Procedures, Amendments</u>.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Procedure</u>.&#160; Every time the Corporate Taxpayer delivers to a Member an applicable Schedule under this Agreement, including any Amended Schedule delivered pursuant to Section&nbsp;2.03(b)&nbsp;and any Early Termination Schedule or amended Early Termination Schedule, the Corporate Taxpayer shall also (x)&nbsp;deliver to such Member schedules, valuation reports (if any), and work papers, as determined by the Corporate Taxpayer or requested by such Member, providing reasonable detail regarding the preparation of the Schedule and (y)&nbsp;allow such Member reasonable access at no cost to the appropriate representatives at the Corporate Taxpayer, as determined by the Corporate Taxpayer or requested by such Member, in connection with a review of such Schedule.&#160; Without limiting the application of the preceding sentence, each time the Corporate Taxpayer delivers to a Member a Tax Benefit Schedule, in addition to the Tax Benefit Schedule duly completed, the Corporate Taxpayer shall deliver to such Member the Corporate Taxpayer Return, the reasonably detailed calculation by the Corporate Taxpayer of the Hypothetical Tax Liability, the reasonably detailed calculation by the Corporate Taxpayer of the actual Tax liability, as well as any other work papers as determined by the Corporate Taxpayer or requested by such Member.&#160; An applicable Schedule or amendment thereto shall become final and binding on all parties 30 calendar days from the first date on which the Member has received the applicable Schedule or amendment thereto unless such Member (i)&nbsp;within 30 calendar days after receiving an applicable Schedule or amendment thereto, provides the Corporate Taxpayer with notice of a material objection to such Schedule (&#147;<u>Objection Notice</u>&#148;) made in good faith or (ii)&nbsp;provides a written waiver of such right of any Objection Notice within the period described in clause (i)&nbsp;above, in which case such Schedule or amendment thereto becomes binding on the date the waiver is received by the Corporate Taxpayer.&#160; If the parties, for any reason, are unable to successfully resolve the issues raised in the Objection Notice within 30 calendar days after receipt by the Corporate Taxpayer of an Objection Notice, the Corporate Taxpayer and the applicable Member shall employ the reconciliation procedures as described in Section&nbsp;7.09 (the &#147;<u>Reconciliation Procedures</u>&#148;).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Amended Schedule</u>.&#160; The applicable Schedule for any Taxable Year may be amended from time to time by the Corporate Taxpayer (i)&nbsp;in connection with a Determination affecting such Schedule, (ii)&nbsp;to correct inaccuracies in the Schedule identified as a result of the receipt of additional factual information relating to a Taxable Year after the date the Schedule was provided to the applicable Member, (iii)&nbsp;to comply with (A)&nbsp;the Expert&#146;s determination under the Reconciliation Procedures or (B)&nbsp;an Expert&#146;s determination under the reconciliation procedures applicable to the Other Tax Receivable Agreements, (iv)&nbsp;to reflect a change in the Realized Tax Benefit or Realized Tax Detriment for such Taxable Year attributable to a carryback or carryforward of a loss or other tax item to such Taxable Year, (v)&nbsp;to reflect a change in the Realized Tax Benefit or Realized Tax Detriment for such Taxable Year attributable to an amended Tax Return filed for such Taxable Year, or (vi)&nbsp;to adjust the Exchange Basis Schedule to take into account payments made pursuant to this Agreement (any such Schedule, an</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12<a name="26867-3-NK-03_PB_12_095301_3020"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=15,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=246542,FOLIO='12',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:34 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Amended Schedule</u>&#148;).&#160; The Corporate Taxpayer shall provide an Amended Schedule to each Member within 30 calendar days of the occurrence of an event referenced in clauses (i)&nbsp;through (vi)&nbsp;of the preceding sentence.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;III</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">TAX BENEFIT PAYMENTS</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Payments</u>.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Within five (5)&nbsp;Business Days after all of the Tax Benefit Schedules (as defined in each of the Tax Receivable Agreements) with respect to a Taxable Year delivered to (i)&nbsp;a Member pursuant to this Agreement and (ii)&nbsp;any Persons who could, under the Other Tax Receivable Agreements, be entitled to Tax Benefit Payments become final in accordance with Section&nbsp;2.03(a)&nbsp;and Section&nbsp;2.03(a)&nbsp;of the Other Tax Receivable Agreements, the Corporate Taxpayer shall pay to each Member for such Taxable Year the Tax Benefit Payment in the amount determined pursuant to Section&nbsp;3.01(b).&nbsp; Each such Tax Benefit Payment to a Member shall be made by wire transfer of immediately available funds to the bank account previously designated by such Member to the Corporate Taxpayer or as otherwise agreed by the Corporate Taxpayer and such Member.&nbsp; For the avoidance of doubt, no Tax Benefit Payment shall be made in respect of estimated tax payments, including federal estimated income tax payments.&#160; Notwithstanding any provision of this Agreement to the contrary, any Member may elect with respect to any Exchange to limit the aggregate Tax Benefit Payments made to such Member in respect of any such Exchange to a specified percentage of the amount equal to the sum of (A)&nbsp;the cash, excluding any Tax Benefit Payments, and (B)&nbsp;the Market Value of the Class&nbsp;A Shares, received by such Member on such Exchange (or such other limitation selected by the Member and consented to by the Corporate Taxpayer, which consent shall not be unreasonably withheld).&#160; The Member shall exercise its rights under the preceding sentence by notifying the Corporate Taxpayer in writing of its desire to impose such a limit and the specified percentage (or such other limitation selected by the Member) and such other details as may be necessary (including whether such limit includes the Imputed Interest in respect of any such Exchange) in such manner and at such time (but in no event later than the date of any such Exchange) as reasonably directed by the Corporate Taxpayer; provided, however, that, in the absence of such direction, the Member shall give such written notice in the same manner as is required by Section&nbsp;7.01 of this Agreement contemporaneously with Member&#146;s notice to the Corporate Taxpayer of the applicable Exchange.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; A &#147;<u>Tax Benefit Payment</u>&#148; means, with respect to a Member, an amount, not less than zero, equal to the sum of the amount of the Net Tax Benefit Attributable to such Member and the related Interest Amount.&nbsp; For the avoidance of doubt, for Tax purposes, the Interest Amount shall not be treated as interest but instead shall be treated as additional consideration for the acquisition of Common Units in Exchanges, unless otherwise required by law.&#160; Subject to Section&nbsp;3.03(a), the &#147;<u>Net Tax Benefit</u>&#148; for a Taxable Year shall be an amount equal to the excess, if any, of 85% of the Cumulative Net Realized Tax Benefit as of the end of such Taxable Year over the sum of (i)&nbsp;the total amount of Tax Benefit Payments previously made under this Section&nbsp;3.01 (excluding payments attributable to Interest Amounts) and (ii)&nbsp;the total amount of Tax Benefit Payments (as defined in the Other Tax Receivable Agreements) previously made under Section&nbsp;3.01 of the Other Tax Receivable Agreements (excluding payments attributable to Interest Amounts (as defined in the Other Tax Receivable Agreements)); <u>provided</u>, for the avoidance of doubt, that such Member shall not be required to return any portion of any previously made Tax Benefit Payment.&#160; The &#147;<u>Interest Amount</u>&#148; shall equal the interest on the amount of the Net Tax Benefit Attributable to such Member calculated at the Agreed Rate from the due date (without extensions) for filing the Corporate Taxpayer Return with respect to Taxes for such Taxable Year until the Payment Date of the applicable Tax Benefit Payment.&#160; Notwithstanding the foregoing, unless the Member elects to receive the lump-sum payment pursuant to the following sentence, for each Taxable Year ending on or after the</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13<a name="26867-3-NK-03_PB_13_095411_7748"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=16,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=101140,FOLIO='13',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:34 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">date of a Change of Control, all Tax Benefit Payments, whether paid with respect to the Common Units that were Exchanged (i)&nbsp;prior to the date of such Change of Control or (ii)&nbsp;on or after the date of such Change of Control, shall be calculated by utilizing Valuation Assumptions (1)&nbsp;and (3), substituting in each case the terms &#147;the closing date of a Change of Control&#148; for an &#147;Early Termination Date.&#148;&#160; In connection with any Change of Control (other than a Change of Control caused solely by the electing Member), at the election of a Member, all obligations hereunder with respect to such Member shall be accelerated and such obligations shall be calculated as if an Early Termination Notice had been delivered on the date of such election and shall include, but not be limited to, (1)&nbsp;the Early Termination Payment to such Member calculated as if an Early Termination Notice had been delivered on the date of such election, (2)&nbsp;any Tax Benefit Payment agreed to by the Corporate Taxpayer and such Member as due and payable but unpaid as of the date of such Member&#146;s election, and (3)&nbsp;any Tax Benefit Payment due for the Taxable Year ending with or including the date of such Member&#146;s election; <u>provided</u>, that procedures similar to the procedures of Section&nbsp;4.02 shall apply with respect to the determination of the amount payable by the Corporate Taxpayer pursuant to this sentence.&#160; Notwithstanding anything to the contrary in this Agreement, after any lump-sum payment under this Section&nbsp;3.01(b)&nbsp;or Article&nbsp;IV or Section&nbsp;3.01(b)&nbsp;or Article&nbsp;IV of the other Tax Receivable Agreements in respect of present or future Tax attributes subject to the Tax Receivable Agreements, the Tax Benefit Payment, Net Tax Benefit and components thereof shall be calculated without taking into account any such attributes or any such lump-sum payment.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.02&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>No Duplicative Payments</u>.&#160; It is intended that the provisions of this Agreement will not result in duplicative payment of any amount (including interest) required under this Agreement.&nbsp; In addition, it is intended that the provisions of this Agreement will not result in a duplicative payment of any amount payable under the Other Tax Receivable Agreements. The provisions of this Agreement shall be construed in the appropriate manner to ensure such intentions are realized.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.03&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Pro Rata Payments; Coordination of Benefits With Other Tax Receivable Agreements</u>.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Notwithstanding anything in Section&nbsp;3.01 to the contrary, to the extent that the aggregate tax benefit of the Corporate Taxpayer&#146;s reduction in Tax liability as a result of the Basis Adjustments, the NOLs and Imputed Interest under the Tax Receivable Agreements (as such terms are defined in each Tax Receivable Agreement) is limited in a particular Taxable Year because the Corporate Taxpayer does not have sufficient taxable income to fully utilize available deductions and other attributes, the limitation on the tax benefit for the Corporate Taxpayer shall be allocated among the Tax Receivable Agreements (and among all parties eligible for payments thereunder) in proportion to the respective amounts of Tax Benefit Payments (as defined in each Tax Receivable Agreement) that would have been determined under the Tax Receivable Agreements (and allocated among such parties) if the Corporate Taxpayer had sufficient taxable income so that there were no such limitation.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; After taking into account Section&nbsp;3.03(a), if for any reason the Corporate Taxpayer does not fully satisfy its payment obligations to make all Tax Benefit Payments due under the Tax Receivable Agreements in respect of a particular Taxable Year, then the Corporate Taxpayer and the Members agree that (i)&nbsp;the Corporate Taxpayer shall pay the same proportion of each Tax</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14<a name="26867-3-NK-03_PB_14_100019_141"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=17,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=198072,FOLIO='14',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:34 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Benefit Payment due under each of the Tax Receivable Agreements in respect of such Taxable Year, without favoring one obligation over the other, and (ii)&nbsp;no Tax Benefit Payment shall be made in respect of any Taxable Year until all Tax Benefit Payments in respect of prior Taxable Years have been made in full.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The parties hereto agree that the parties to the Other Tax Receivable Agreements are expressly made third party beneficiaries of the provisions of this Section&nbsp;3.03.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;IV</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">TERMINATION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;4.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Termination, Early Termination and Breach of Agreement</u>.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Unless terminated earlier pursuant to Section&nbsp;4.01(b)&nbsp;or Section&nbsp;4.01(c), this Agreement will terminate when there is no further potential for a Tax Benefit Payment pursuant to this Agreement. Tax Benefit Payments under this Agreement are not conditioned on any Member retaining an interest in the Corporate Taxpayer or OpCo (or any successor thereto).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Corporate Taxpayer may terminate this Agreement with respect to all amounts payable to the Members and with respect to all of the Common Units held (or previously held and exchanged) by all Members at any time by paying to each Member the Early Termination Payment in respect of such Member; <u>provided</u>, <u>however</u>, that this Agreement shall only terminate pursuant to this Section&nbsp;4.01(b)&nbsp;upon the receipt of the Early Termination Payment by all Members; and <u>provided</u>, <u>further</u>, that the Corporate Taxpayer may withdraw any notice to execute its termination rights under this Section&nbsp;4.01(b)&nbsp;prior to the time at which any Early Termination Payment has been paid.&nbsp; Upon payment of the Early Termination Payment by the Corporate Taxpayer in accordance with this Section&nbsp;4.01(b), neither the Members nor the Corporate Taxpayer shall have any further payment obligations under this Agreement, other than for any (1)&nbsp;Tax Benefit Payment agreed to by the Corporate Taxpayer and a Member as due and payable but unpaid as of the Early Termination Notice and (2)&nbsp;Tax Benefit Payment due for the Taxable Year ending with or including the date of the Early Termination Notice (except to the extent that the amount described in clause (2)&nbsp;is included in the Early Termination Payment).&nbsp; If an Exchange occurs after the Corporate Taxpayer makes the Early Termination Payment pursuant to this Section&nbsp;4.01(b), the Corporate Taxpayer shall have no obligations under this Agreement with respect to such Exchange. If the Corporate Taxpayer terminates, or proposes to terminate, the Tax Receivable Agreement (non-SLP Exchanges) by making, or proposing to make, the Early Termination Payment to the Members under such agreement, then each Member that is a party to this Agreement shall have the right to cause the Corporate Taxpayer to make an Early Termination Payment to such Member under this Agreement; provided that the procedures of this Article&nbsp;IV shall apply to such Early Termination Payment as if the Corporate Taxpayer had delivered an Early Termination Notice to such electing Members; provided further that a Member may elect to receive an Early Termination Payment pursuant to this sentence notwithstanding the fact that not all Members under this Agreement elect to receive such a payment.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15<a name="26867-3-NK-03_PB_15_100039_7608"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=18,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=857953,FOLIO='15',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:34 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; In the event that the Corporate Taxpayer breaches any of its material obligations under this Agreement, whether as a result of failure to make any payment when due, failure to honor any other material obligation required hereunder or by operation of law as a result of the rejection of this Agreement in a case commenced under the Bankruptcy Code or otherwise, then all obligations hereunder shall be accelerated and such obligations shall be calculated as if an Early Termination Notice had been delivered on the date of such breach and shall include, but not be limited to, (1)&nbsp;the Early Termination Payment calculated as if an Early Termination Notice had been delivered on the date of a breach, (2)&nbsp;any Tax Benefit Payment agreed to by the Corporate Taxpayer and any Members as due and payable but unpaid as of the date of a breach, and (3)&nbsp;any Tax Benefit Payment due for the Taxable Year ending with or including the date of a breach; provided that procedures similar to the procedures of Section&nbsp;4.02 shall apply with respect to the determination of the amount payable by the Corporate Taxpayer pursuant to this sentence.&nbsp; Notwithstanding the foregoing, in the event that the Corporate Taxpayer breaches this Agreement, the Members shall be entitled to elect to receive the amounts set forth in clauses (1), (2)&nbsp;and (3)&nbsp;above or to seek specific performance of the terms hereof.&nbsp; The parties agree that the failure to make any payment due pursuant to this Agreement within three months of the date such payment is due shall be deemed to be a breach of a material obligation under this Agreement for all purposes of this Agreement, and that it will not be considered to be a breach of a material obligation under this Agreement to make a payment due pursuant to this Agreement within three months of the date such payment is due. Notwithstanding anything in this Agreement to the contrary, it shall not be a breach of this Agreement if the Corporate Taxpayer fails to make any payment due pursuant to this Agreement when due to the extent the Corporate Taxpayer has insufficient funds to make such payment; <u>provided</u> that the interest provisions of Section&nbsp;5.02 shall apply to such late payment (unless the Corporate Taxpayer does not have sufficient cash to make such payment as a result of limitations imposed by credit agreements to which the Corporate Taxpayer or its Subsidiaries is a party, in which case Section&nbsp;5.02 shall apply, but the Default Rate shall be replaced by the Agreed Rate); <u>provided</u>, <u>further</u>, that the Corporate Taxpayer shall promptly (and in any event, within two (2)&nbsp;Business Days), pay all such unpaid payments, together with accrued and unpaid interest thereon, immediately following such time that the Corporate Taxpayer has, and to the extent the Corporate Taxpayer has, sufficient funds to make such payment, and the failure of the Corporate Taxpayer to do so shall constitute a breach of this Agreement.&#160; For the avoidance of doubt, all cash and cash equivalents used or to be used to pay dividends by, or repurchase equity securities of, the Corporate Taxpayer shall be deemed to be funds sufficient and available to pay such unpaid payments, together with any accrued and unpaid interest thereon.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;4.02&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Early Termination Notice</u>.&#160; If the Corporate Taxpayer chooses to exercise its right of early termination under Section&nbsp;4.01(b)&nbsp;above, the Corporate Taxpayer shall deliver to each Member notice of such intention to exercise such right (&#147;<u>Early Termination Notice</u>&#148;) and a schedule (the &#147;<u>Early Termination Schedule</u>&#148;) specifying the Corporate Taxpayer&#146;s intention to exercise such right and showing in reasonable detail the calculation of the Early Termination Payment for such Member.&#160; The Early Termination Schedule shall become final and binding on such Member 30 calendar days from the first date on which such Member has received such Schedule or amendment thereto unless such Member (i)&nbsp;within 30 calendar days after receiving the Early Termination Schedule, provides the Corporate Taxpayer with notice of a material objection to such Schedule made in good faith (&#147;<u>Material Objection</u></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16<a name="26867-3-NK-03_PB_16_100101_8146"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=19,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=518335,FOLIO='16',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:34 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notice</font></u><font size="2" style="font-size:10.0pt;">&#148;) or (ii)&nbsp;provides a written waiver of such right of a Material Objection Notice within the period described in clause (i)&nbsp;above, in which case such Schedule becomes binding on the date the waiver is received by the Corporate Taxpayer (such 30 calendar day date as modified, if at all, by clauses (i)&nbsp;or (ii), the &#147;<u>Early Termination Effective Date</u>&#148;).&#160; If the Corporate Taxpayer and such Member, for any reason, are unable to successfully resolve the issues raised in such notice within 30 calendar days after receipt by the Corporate Taxpayer of the Material Objection Notice, the Corporate Taxpayer and such Member shall employ the Reconciliation Procedures.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;4.03&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Payment upon Early Termination</u>.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Within three Business Days after the Early Termination Effective Date, the Corporate Taxpayer shall pay to each Member an amount equal to the Early Termination Payment in respect of such Member.&#160; Such payment shall be made by wire transfer of immediately available funds to a bank account or accounts designated by such Member or as otherwise agreed by the Corporate Taxpayer and such Member.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;<u>Early Termination Payment</u>&#148; in respect of a Member shall equal the present value, discounted at the Early Termination Rate as of the Early Termination Effective Date, of all Tax Benefit Payments in respect of such Member that would be required to be paid by the Corporate Taxpayer beginning from the Early Termination Date and assuming that the Valuation Assumptions are applied.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;V</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SUBORDINATION AND LATE PAYMENTS</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Subordination</u>. Notwithstanding any other provision of this Agreement to the contrary, any Tax Benefit Payment or Early Termination Payment required to be made by the Corporate Taxpayer to any Member under this Agreement shall rank subordinate and junior in right of payment to any principal, interest or other amounts due and payable in respect of any obligations in respect of indebtedness for borrowed money of the Corporate Taxpayer and its Subsidiaries (&#147;<u>Senior Obligations</u>&#148;) and shall rank pari passu with all current or future unsecured obligations of the Corporate Taxpayer that are not Senior Obligations.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.02&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Late Payments by the Corporate Taxpayer</u>.&#160; The amount of all or any portion of any Tax Benefit Payment or Early Termination Payment not made to the applicable Member when due under the terms of this Agreement shall be payable together with any interest thereon, computed at the Default Rate and commencing from the date on which such Tax Benefit Payment or Early Termination Payment was due and payable.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;VI</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">NO DISPUTES; CONSISTENCY; COOPERATION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Participation in the Corporate Taxpayer&#146;s and OpCo&#146;s Tax Matters</u>.&#160; Except as otherwise provided herein, the Corporate Taxpayer shall have full responsibility for, and sole discretion over, all Tax matters concerning the Corporate Taxpayer and OpCo, including the preparation, filing or amending of any Tax Return and defending, contesting or settling any issue pertaining to Taxes.&#160; Notwithstanding the foregoing, the</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17<a name="26867-3-NK-03_PB_17_100148_7091"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=20,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=45777,FOLIO='17',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:34 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Corporate Taxpayer shall notify a Member of, and keep such Member reasonably informed with respect to, the portion of any audit of the Corporate Taxpayer and OpCo by a Taxing Authority the outcome of which is reasonably expected to affect the rights and obligations of such Member under this Agreement, and shall provide to such Member reasonable opportunity to provide information and other input to the Corporate Taxpayer, OpCo and their respective advisors concerning the conduct of any such portion of such audit; <u>provided</u>, <u>however</u>, that the Corporate Taxpayer and OpCo shall not be required to take any action that is inconsistent with any provision of the LLC Agreement.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.02&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Consistency</u>.&#160; The Corporate Taxpayer and the Members agree to report and cause to be reported for all purposes, including federal, state and local Tax purposes and financial reporting purposes, all Tax-related items (including the Basis Adjustments and each Tax Benefit Payment) in a manner consistent with that specified by the Corporate Taxpayer in any Schedule required to be provided by or on behalf of the Corporate Taxpayer under this Agreement unless otherwise required by law. Any dispute as to required Tax or financial reporting shall be subject to Section&nbsp;7.09.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.03&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Cooperation</u>.&#160; Each of the Corporate Taxpayer and each Member shall (a)&nbsp;furnish to the other party in a timely manner such information, documents and other materials as the other party may reasonably request for purposes of making any determination or computation necessary or appropriate under this Agreement, preparing any Tax Return or contesting or defending any audit, examination or controversy with any Taxing Authority, (b)&nbsp;make itself available to the other party and its representatives to provide explanations of documents and materials and such other information as the other party or its representatives may reasonably request in connection with any of the matters described in clause (a)&nbsp;above, and (c)&nbsp;reasonably cooperate in connection with any such matter, and the Corporate Taxpayer shall reimburse the applicable Member for any reasonable third-party costs and expenses incurred pursuant to this Section&nbsp;6.03.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;VII<br> MISCELLANEOUS</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Notices</u>.&#160; All notices, requests and other communications to any party hereunder shall be in writing (including facsimile transmission and electronic mail (&#147;<u>e-mail</u>&#148;) transmission, so long as a receipt of such e-mail is requested and received) and shall be given to such party as set forth below, or pursuant to such other instructions as may be designated in writing by the party to receive such notice:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If to the Corporate Taxpayer, to:</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Virtu Financial LLC <br> 645 Madison Avenue<br> New York, New York&#160; 10022<br> Attention: Legal Department<br> Facsimile No.: (212) 418-0100<br> E-mail: legal@virtu.com</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18<a name="26867-3-NK-03_PB_18_100216_455"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=21,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=106805,FOLIO='18',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:34 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">With copies (which shall not constitute notice) to:</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison LLP</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1285 Avenue of the Americas</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New York, NY&#160; 10019-6064</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile No.:&#160; (212) 757-3990</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="80%" style="border-collapse:collapse;margin-left:1.5in;width:80.0%;">
<tr>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="86%" valign="top" style="padding:0in 0in 0in 0in;width:86.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">John C. Kennedy</font></p>    </td>   </tr>
<tr>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="86%" valign="top" style="padding:0in 0in 0in 0in;width:86.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Jeffrey D. Marell</font></p>    </td>   </tr>
<tr>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">E-mail:</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="86%" valign="top" style="padding:0in 0in 0in 0in;width:86.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">jkennedy@paulweiss.com</font></p>    </td>   </tr>
<tr>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="86%" valign="top" style="padding:0in 0in 0in 0in;width:86.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">jmarell@paulweiss.com</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If to the applicable Member, to the address, facsimile number or e-mail address specified for such party on the Member Schedule&nbsp;to the LLC Agreement.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All such notices, requests and other communications shall be deemed received on the date of receipt by the recipient thereof if received prior to 5:00&nbsp;p.m. on a Business Day in the place of receipt.&#160; Otherwise, any such notice, request or communication shall be deemed to have been received on the next succeeding Business Day in the place of receipt.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.02&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Binding Effect; Benefit; Assignment</u>.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The provisions of this Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns.&#160; No provision of this Agreement is intended to confer any rights, benefits, remedies, obligations or liabilities hereunder upon any Person other than the parties hereto and their respective successors and assigns.&#160; The Corporate Taxpayer shall require and cause any direct or indirect successor (whether by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Corporate Taxpayer, by written agreement, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Corporate Taxpayer would be required to perform if no such succession had taken place.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; A Member may assign any of its rights under this Agreement to any Person as long as such transferee has executed and delivered, or, in connection with such transfer, executes and delivers, a joinder to this Agreement, in form of Exhibit&nbsp;A, agreeing to become a &#147;Member&#148; for all purposes of this Agreement, except as otherwise provided in such joinder; <u>provided</u>, that a Member&#146;s rights under this Agreement shall be assignable by such Member under the procedure in this Section&nbsp;7.02(b)&nbsp;regardless of whether such Member continues to hold any interests in OpCo or the Corporate Taxpayer or has fully transferred any such interests.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.03&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Resolution of Disputes</u>.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Except for Reconciliation Disputes subject to Section&nbsp;7.09, any and all disputes which cannot be settled amicably, including any ancillary claims of any party, arising out of, relating to or in connection with the validity, negotiation, execution, interpretation, performance or non-performance of this Agreement (including the validity, scope and</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19<a name="26867-3-NK-03_PB_19_100325_8627"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=22,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=585235,FOLIO='19',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:34 2015' -->

<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">enforceability of this arbitration provision) (each a &#147;<u>Dispute</u>&#148;) shall be finally settled by arbitration conducted by a single arbitrator in Delaware in accordance with the then-existing Rules&nbsp;of Arbitration of the International Chamber of Commerce. If the parties to the Dispute fail to agree on the selection of an arbitrator within ten (10)&nbsp;days of the receipt of the request for arbitration, the International Chamber of Commerce shall make the appointment. The arbitrator shall be a lawyer admitted to the practice of law in the State of Delaware and shall conduct the proceedings in the English language.&#160; Performance under this Agreement shall continue if reasonably possible during any arbitration proceedings.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Notwithstanding the provisions of paragraph (a), the Corporate Taxpayer may bring an action or special proceeding in any court of competent jurisdiction for the purpose of compelling a party to arbitrate, seeking temporary or preliminary relief in aid of an arbitration hereunder, and/or enforcing an arbitration award and, for the purposes of this paragraph (b), each Member (i)&nbsp;expressly consents to the application of paragraph (c)&nbsp;of this Section&nbsp;7.03 to any such action or proceeding, (ii)&nbsp;agrees that proof shall not be required that monetary damages for breach of the provisions of this Agreement would be difficult to calculate and that remedies at law would be inadequate, and (iii)&nbsp;irrevocably appoints the Corporate Taxpayer as agent of such Member for service of process in connection with any such action or proceeding and agrees that service of process upon such agent, who shall promptly advise such Member of any such service of process, shall be deemed in every respect effective service of process upon such Member in any such action or proceeding.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">EACH PARTY HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF THE CHANCERY COURT OF THE STATE OF DELAWARE OR,&nbsp;IF SUCH COURT DECLINES JURISDICTION, THE COURTS OF THE STATE OF DELAWARE SITTING IN WILMINGTON, DELAWARE, AND OF THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF DELAWARE SITTING IN WILMINGTON, DELAWARE, AND ANY APPELLATE COURT FROM ANY THEREOF, FOR THE PURPOSE OF ANY JUDICIAL PROCEEDING BROUGHT IN ACCORDANCE WITH THE PROVISIONS OF THIS SECTION&nbsp;7.03, OR ANY JUDICIAL PROCEEDING ANCILLARY TO AN ARBITRATION OR CONTEMPLATED ARBITRATION ARISING OUT OF OR RELATING TO OR CONCERNING THIS AGREEMENT. Such ancillary judicial proceedings include any suit, action or proceeding to compel arbitration, to obtain temporary or preliminary judicial relief in aid of arbitration, or to confirm an arbitration award. The parties acknowledge that the fora designated by this paragraph (c)&nbsp;have a reasonable relation to this Agreement, and to the parties&#146; relationship with one another.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The parties hereby waive, to the fullest extent permitted by applicable law, any objection which they now or hereafter may have to personal jurisdiction or to the laying of venue of any such ancillary suit, action or proceeding brought in any court referred to in the preceding paragraph of this Section&nbsp;7.03 and such parties agree not to plead or claim the same.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.04</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Counterparts</font></u><font size="2" style="font-size:10.0pt;">.&#160; This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.&#160; Until and unless each party has received a counterpart hereof signed by the other party hereto, this Agreement shall have no effect and no</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20<a name="26867-3-NK-05_PB_20_095205_7056"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=23,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=402208,FOLIO='20',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 10:37 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">party shall have any right or obligation hereunder (whether by virtue of any other oral or written agreement or other communication).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.05</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Entire Agreement</font></u><font size="2" style="font-size:10.0pt;">.&#160; This Agreement and the other Reorganization Documents (as such term is defined in the LLC Agreement) constitute the entire agreement between the parties with respect to the subject matter of this Agreement and supersede all prior agreements and understandings, both oral and written, between the parties with respect to the subject matter of this Agreement.&#160; Except to the extent provided in Section&nbsp;3.03, nothing in this Agreement shall create any third-party beneficiary rights in favor of any Person or other party hereto.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.06</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Severability</font></u><font size="2" style="font-size:10.0pt;">.&#160; If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction or other Governmental Authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party.&#160; Upon such a determination, the parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the fullest extent possible.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.07</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Amendment</font></u><font size="2" style="font-size:10.0pt;">.&#160; No provision of this Agreement may be amended unless such amendment is approved in writing by the Corporate Taxpayer and by Persons who would be entitled to receive at least two-thirds of the Early Termination Payments payable to all Persons entitled to Early Termination Payments under the Tax Receivable Agreements if the Corporate Taxpayer had exercised its right of early termination on the date of the most recent Exchange prior to such amendment (excluding, for purposes of this sentence, all payments made to any Persons pursuant to the Tax Receivable Agreements since the date of such most recent Exchange); <u>provided</u>, that no such amendment shall be effective if such amendment will have a disproportionate effect on the payments certain Persons will or may receive under the Tax Receivable Agreements unless all such Persons disproportionately affected consent in writing to such amendment.&#160; No provision of this Agreement may be waived unless such waiver is in writing and signed by the party against whom the waiver is to be effective.&#160; If any amendment is proposed or made to the Tax Receivable Agreement (non-SLP Exchanges), the Members under this Agreement shall have the right to elect that a similar amendment be made to this Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.08</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Governing Law</font></u><font size="2" style="font-size:10.0pt;">.&#160; This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to the conflicts of law rules&nbsp;of such State that would result in the application of the laws of any other State.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.09</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Reconciliation</font></u><font size="2" style="font-size:10.0pt;">.&#160; In the event that the Corporate Taxpayer and a Member are unable to resolve a disagreement with respect to the matters governed by Sections 2.03, 3.01(b), 4.02 and 6.02 within the relevant period designated in this Agreement (&#147;<u>Reconciliation Dispute</u>&#148;), the Reconciliation Dispute shall be submitted for determination to a nationally recognized expert (the &#147;<u>Expert</u>&#148;) in the particular area of disagreement mutually acceptable to both parties. The Expert shall be a partner or principal in a nationally recognized accounting or law firm, and unless the Corporate Taxpayer and such Member agree otherwise,</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21<a name="26867-3-NK-05_PB_21_095258_5335"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=24,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=586180,FOLIO='21',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 10:37 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the Expert shall not, and the firm that employs the Expert shall not, have any material relationship with the Corporate Taxpayer or such Member or other actual or potential conflict of interest.&#160; If the parties are unable to agree on an Expert within fifteen (15) calendar days of receipt by the respondent(s)&nbsp;of written notice of a Reconciliation Dispute, the Expert shall be appointed by the International Chamber of Commerce Centre for Expertise. The Expert shall resolve any matter relating to the Exchange Basis Schedule or an amendment thereto or the Early Termination Schedule or an amendment thereto within 30 calendar days and shall resolve any matter relating to a Tax Benefit Schedule or an amendment thereto within 15 calendar days or as soon thereafter as is reasonably practicable, in each case after the matter has been submitted to the Expert for resolution.&nbsp; Notwithstanding the preceding sentence, if the matter is not resolved before any payment that is the subject of a disagreement would be due (in the absence of such disagreement) or any Tax Return reflecting the subject of a disagreement is due, the undisputed amount shall be paid on the date prescribed by this Agreement and such Tax Return may be filed as prepared by the Corporate Taxpayer, subject to adjustment or amendment upon resolution.&nbsp; The costs and expenses relating to the engagement of such Expert or amending any Tax Return shall be borne by the Corporate Taxpayer, except as provided in the next sentence.&nbsp; The Corporate Taxpayer and such Member shall bear their own costs and expenses of such proceeding, unless (i)&nbsp;the Expert substantially adopts such Member&#146;s position, in which case the Corporate Taxpayer shall reimburse such Member for any reasonable out-of-pocket costs and expenses in such proceeding, or (ii)&nbsp;the Expert substantially adopts the Corporate Taxpayer&#146;s position, in which case such Member shall reimburse the Corporate Taxpayer for any reasonable out-of-pocket costs and expenses in such proceeding.&nbsp; Any dispute as to whether a dispute is a Reconciliation Dispute within the meaning of this Section&nbsp;7.09 shall be decided by the Expert.&nbsp; The Expert shall finally determine any Reconciliation Dispute and the determinations of the Expert pursuant to this Section&nbsp;7.09 shall be binding on the Corporate Taxpayer and such Member and may be entered and enforced in any court having jurisdiction.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.10</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Withholding</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Corporate Taxpayer shall be entitled to deduct and withhold from any payment payable pursuant to this Agreement such amounts as the Corporate Taxpayer is required to deduct and withhold with respect to the making of such payment under the Code or any provision of state, local or foreign tax law. To the extent that amounts are so withheld and paid over to the appropriate Taxing Authority by the Corporate Taxpayer, such withheld amounts shall be treated for all purposes of this Agreement as having been paid to the applicable Member.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.11</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Admission of the Corporate Taxpayer into a Consolidated Group; Transfers of Corporate Assets</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">If the Corporate Taxpayer is or becomes a member of an affiliated or consolidated group of corporations that files a consolidated income tax return pursuant to Sections 1501 et seq. of the Code or any corresponding provisions of state or local law, then: (i)&nbsp;the provisions of this Agreement shall be applied with respect to the group as a whole; and (ii)&nbsp;Tax Benefit Payments, Early Termination Payments and other applicable items hereunder shall be computed with reference to the consolidated taxable income of the group as a whole.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22<a name="26867-3-NK-05_PB_22_095330_5796"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=25,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=955558,FOLIO='22',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 10:37 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">If any entity that is obligated to make a Tax Benefit Payment or Early Termination Payment hereunder transfers one or more assets to a corporation (or a Person classified as a corporation for U.S. federal income tax purposes) with which such entity does not file a consolidated tax return pursuant to Section&nbsp;1501 of the Code, such entity, for purposes of calculating the amount of any Tax Benefit Payment or Early Termination Payment (e.g., calculating the gross income of the entity and determining the Realized Tax Benefit of such entity) due hereunder, shall be treated as having disposed of such asset in a fully taxable transaction on the date of such contribution.&nbsp; The consideration deemed to be received by such entity shall be equal to the fair market value of the contributed asset.&#160; For purposes of this Section&nbsp;7.11, a transfer of a partnership interest shall be treated as a transfer of the transferring partner&#146;s share of each of the assets and liabilities of that partnership.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.12</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Confidentiality</font></u><font size="2" style="font-size:10.0pt;">.&#160; Section&nbsp;12.11 (Confidentiality) of the LLC Agreement as of the date of this Agreement shall apply to any information of the Corporate Taxpayer provided to the Members and their assignees pursuant to this Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.13</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Change in Law</font></u><font size="2" style="font-size:10.0pt;">.&#160; Notwithstanding anything herein to the contrary, if, in connection with an actual or proposed change in law, a Member reasonably believes that the existence of this Agreement could cause income (other than income arising from receipt of a payment under this Agreement) recognized by such Member (or direct or indirect equity holders in such Member) upon an Exchange to be treated as ordinary income rather than capital gain (or otherwise taxed at ordinary income rates) for U.S. federal income tax purposes or would have other material adverse tax consequences to the Corporate Taxpayer or such Member or any direct or indirect owner of a Member, then at the election of such Member and to the extent specified by such Member, this Agreement (i)&nbsp;shall cease to have further effect with respect to such Member, (ii)&nbsp;shall not apply to an Exchange occurring after a date specified by such Member, or (iii)&nbsp;shall otherwise be amended in a manner determined by such Member; <u>provided</u>, that such amendment shall not result in an increase in payments under this Agreement to such Member at any time as compared to the amounts and times of payments that would have been due to such Member in the absence of such amendment.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.14</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Partnership Agreement</font></u><font size="2" style="font-size:10.0pt;">.&#160; This Agreement shall be treated as part of the partnership agreement of OpCo as described in Section&nbsp;761(c)&nbsp;of the Code, and Sections 1.704-1(b)(2)(ii)(h)&nbsp;and 1.761-1(c)&nbsp;of the Treasury Regulations.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Remainder of Page&nbsp;Intentionally Left Blank]</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23<a name="26867-3-NK-05_PB_23_095351_2897"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=26,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=734836,FOLIO='23',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 10:37 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IN WITNESS WHEREOF, the Corporate Taxpayer and each Member set forth below have duly executed this Agreement as of the date first written above.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">CORPORATE   TAXPAYER</font></u><font size="2" style="font-size:10.0pt;">:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIRTU   FINANCIAL,&nbsp;INC.</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="46%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:46.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="46%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:46.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Signature Page&nbsp;to Tax Receivable Agreement (SLP Exchanges)</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=27,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=672750,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 10:37 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">MEMBERS</font></u><font size="2" style="font-size:10.0pt;">:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SILVER   LAKE PARTNERS III DE (AIV III), L.P.</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   Silver Lake Technology Associates III, L.P., its general partner</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   SLTA III (GP), L.L.C., its general partner</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   Silver Lake Group, L.L.C., its sole member</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:   Managing Member</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SILVER   LAKE TECHNOLOGY ASSOCIATES III, L.P.</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   SLTA III (GP), L.L.C., its general partner</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   Silver Lake Group, L.L.C., its sole member</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:   Managing Member</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SILVER   LAKE TECHNOLOGY INVESTORS III, L.P.</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   Silver Lake Technology Associates III, L.P., its general partner</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   SLTA III (GP), L.L.C., its general partner</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   Silver Lake Group, L.L.C., its sole member</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:   Managing Member</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Signature Page&nbsp;to Tax Receivable Agreement (SLP Exchanges)</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=28,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=190716,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 10:37 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit&nbsp;A</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Form&nbsp;of Joinder</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This JOINDER (this &#147;<u>Joinder</u>&#148;) to the Tax Receivable Agreement (as defined below), dated as of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, by and among Virtu Financial,&nbsp;Inc., a Delaware corporation (the &#147;<u>Corporate Taxpayer</u>&#148;), and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (&#147;<u>Permitted Transferee</u>&#148;).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, Permitted Transferee acquired (the &#147;<u>Acquisition</u>&#148;) [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Units and the corresponding shares of Class&nbsp;C Common Stock] [the right to receive any and all payments that may become due and payable under the Tax Receivable Agreement with respect to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Units that were previously Exchanged and are described in greater detail in Annex A to this Joinder] (collectively, &#147;<u>Interests</u>&#148; and, together with all other interests hereinafter acquired by the Permitted Transferee from Transferor, the &#147;<u>Acquired Interests</u>&#148;) from &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (&#147;Transferor&#148;); and</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, Transferor, in connection with the Acquisition, has required Permitted Transferee to execute and deliver this Joinder pursuant to Section&nbsp;7.02(b)&nbsp;of the Tax Receivable Agreement (SLP Exchanges), dated as of [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], 2015, by and among the Corporate Taxpayer and each Member (as defined therein) (the &#147;<u>Tax Receivable Agreement</u>&#148;).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NOW, THEREFORE, in consideration of the foregoing and the respective covenants and agreements set forth herein, and intending to be legally bound hereby, the parties hereto agree as follows:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;1.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Definitions</font></u><font size="2" style="font-size:10.0pt;">.&#160; To the extent capitalized words used in this Joinder are not defined in this Joinder, such words shall have the respective meanings set forth in the Tax Receivable Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;1.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Joinder</font></u><font size="2" style="font-size:10.0pt;">. Permitted Transferee hereby acknowledges and agrees to become a &#147;Member&#148; (as defined in the Tax Receivable Agreement) for all purposes of the Tax Receivable Agreement.&#160; Permitted Transferee hereby acknowledges the terms of Section&nbsp;7.02(b)&nbsp;of the Tax Receivable Agreement and agrees to be bound by Section&nbsp;7.12 of the Tax Receivable Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;1.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Notice</font></u><font size="2" style="font-size:10.0pt;">.&#160; Any notice, request, consent, claim, demand, approval, waiver or other communication hereunder to Permitted Transferee shall be delivered or sent to Permitted Transferee at the address set forth on the signature page&nbsp;hereto in accordance with Section&nbsp;7.01 of the Tax Receivable Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;1.04</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Governing Law</font></u><font size="2" style="font-size:10.0pt;">. This Joinder shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to the conflicts of law rules&nbsp;of such State that would result in the application of the laws of any other State.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=29,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=887981,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 10:37 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IN WITNESS WHEREOF, this Joinder has been duly executed and delivered by Permitted Transferee as of the date first above written.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[PERMITTED   TRANSFEREE]</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="46%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:46.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="46%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:46.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Address   for notices:</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 3.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=30,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="6",CHK=384337,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NK-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 10:37 2015' -->

<BR>
<!-- TOCEXISTFLAG -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.9
<SEQUENCE>7
<FILENAME>a2223212zex-10_9.htm
<DESCRIPTION>EX-10.9
<TEXT>
<HTML>
<HEAD>
</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>
<div>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit&nbsp;10.9</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">THIRD AMENDED AND RESTATED</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">LIMITED LIABILITY COMPANY AGREEMENT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">of</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIRTU FINANCIAL LLC</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dated as of [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], 2015</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=1,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=824281,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:32 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">TABLE OF CONTENTS</font></u></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="81%" valign="bottom" style="padding:0in 0in 0in 0in;width:81.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="4%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:4.66%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Page</font></b></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="95%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;I DEFINITIONS AND USAGE</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 27.4pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;1.01</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Definitions</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 27.4pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;1.02</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Other   Definitional and Interpretative Provisions</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="95%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;II THE COMPANY</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 27.4pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.01</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Formation</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 27.4pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.02</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 27.4pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.03</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Term</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 27.4pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.04</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Registered   Agent and Registered Office</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 27.4pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.05</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Purposes</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 27.4pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.06</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Powers   of the Company</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 27.4pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.07</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Partnership   Tax Status</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 27.4pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.08</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Regulation   of Internal Affairs</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 27.4pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.09</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ownership   of Property</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 27.4pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.10</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Subsidiaries</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="95%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;III UNITS; MEMBERS; BOOKS AND   RECORDS; REPORTS</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.01</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Units;   Admission of Members</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.02</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Substitute   Members and Additional Members</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.03</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Tax   and Accounting Information</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.04</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Books   and Records</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="95%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;IV PUBCO OWNERSHIP; RESTRICTIONS ON   PUBCO STOCK</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;4.01</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pubco   Ownership</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;4.02</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Restrictions   on Pubco Common Stock</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">27</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="95%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;V CAPITAL CONTRIBUTIONS; CAPITAL   ACCOUNTS; DISTRIBUTIONS; ALLOCATIONS</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">30</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.01</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Capital   Contributions</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">30</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.02</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Capital   Accounts</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">30</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.03</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amounts   and Priority of Distributions</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">32</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.04</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Allocations</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">34</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.05</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Other   Allocation Rules</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">37</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.06</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Tax   Withholding; Withholding Advances</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">38</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="95%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;VI CERTAIN TAX MATTERS</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">39</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.01</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Tax   Matters Partner</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">39</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.02</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;754   Election</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.03</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RESERVED</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.04</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RESERVED</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.05</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Debt   Allocation</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">i<a name="26867-3-NL-01_PB_i_160816_7056"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=2,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=762007,FOLIO='i',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:32 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="95%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;VII MANAGEMENT OF THE COMPANY</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.01</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Management   by the Managing Member</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.02</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Withdrawal   of the Managing Member</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.03</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Decisions   by the Members</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">41</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.04</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RESERVED</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">41</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.05</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RESERVED</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">41</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.06</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RESERVED</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">41</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.07</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fiduciary   Duties</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">42</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.08</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Officers</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">43</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="95%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;VIII TRANSFERS OF INTERESTS</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">44</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;8.01</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Restrictions   on Transfers</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">44</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;8.02</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Certain   Permitted Transfers</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">45</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;8.03</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RESERVED</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">46</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;8.04</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RESERVED</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">46</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;8.05</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RESERVED</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">46</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;8.06</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Registration   of Transfers</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">46</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="95%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;IX CERTAIN OTHER AGREEMENTS</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">46</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;9.01</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RESERVED</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">46</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;9.02</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RESERVED</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">46</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;9.03</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RESERVED</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">46</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;9.04</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Non-Compete;   Non-Solicitation</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">46</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;9.05</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Company   Call Right</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">48</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;9.06</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RESERVED</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">48</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;9.07</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RESERVED</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">49</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;9.08</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RESERVED</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">49</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;9.09</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Employee   Holdco</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">49</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="95%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;X LIMITATION ON LIABILITY,   EXCULPATION AND INDEMNIFICATION</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">50</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;10.01</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Limitation   on Liability</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">50</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;10.02</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exculpation   and Indemnification</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">50</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;10.03</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Indemnification   of Certain Matters</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">53</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="95%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;XI DISSOLUTION AND TERMINATION</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">53</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;11.01</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dissolution</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">53</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;11.02</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Winding   Up of the Company</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">54</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;11.03</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Termination</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">54</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;11.04</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Survival</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">54</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="95%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:95.34%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;XII MISCELLANEOUS</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">55</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.01</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Expenses</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">55</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.02</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Further   Assurances</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">55</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.03</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notices</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">55</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ii<a name="26867-3-NL-01_PB_ii_160833_5335"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=3,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=762524,FOLIO='ii',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:32 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.04</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Binding   Effect; Benefit; Assignment</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">55</font></p>    </td>   </tr>
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.05</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Jurisdiction</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">56</font></p>    </td>   </tr>
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.06</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WAIVER   OF JURY TRIAL</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">56</font></p>    </td>   </tr>
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.07</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Counterparts</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">57</font></p>    </td>   </tr>
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.08</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Entire   Agreement</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">57</font></p>    </td>   </tr>
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.09</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Severability</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">57</font></p>    </td>   </tr>
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.10</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">57</font></p>    </td>   </tr>
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.11</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Confidentiality</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">59</font></p>    </td>   </tr>
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 17.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.12</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Governing   Law</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">60</font></p>    </td>   </tr>
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Schedule   A</font></p>    </td>
<td width="83%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:83.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Restricted   Investments</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Schedule   B</font></p>    </td>
<td width="83%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:83.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Restricted   Members</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Schedule   C</font></p>    </td>
<td width="83%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:83.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Common   Units</font></p>    </td>
<td width="4%" valign="bottom" style="padding:0in 0in 0in 0in;width:4.66%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr height="0">
<td width="89" style="border:none;"></td>
<td width="18" style="border:none;"></td>
<td width="606" style="border:none;"></td>
<td width="35" style="border:none;"></td>   </tr> </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">iii<a name="26867-3-NL-01_PB_iii_160850_5796"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=4,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=138489,FOLIO='iii',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:32 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">THIRD AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT (this &#147;<u>Agreement</u>&#148;) OF VIRTU FINANCIAL LLC, a Delaware limited liability company (the &#147;<u>Company</u>&#148;), dated as of [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], 2015, by and among the Company, Virtu Financial, Inc., a Delaware corporation (&#147;<u>Pubco</u>&#148;), and the other Persons listed on the signature pages hereto.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">W&nbsp;I T N E S S E T H:</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the Company has been heretofore formed as a limited liability company under the Delaware Act (as defined below) pursuant to a certificate of formation which was executed and filed with the Secretary of State of the State of Delaware on April&nbsp;8, 2011;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, SLP Virtu Investors, LLC, a Delaware limited liability company (&#147;<u>SL Investor</u>&#148;), entered into the initial Limited Liability Company Agreement of the Company, dated as of April&nbsp;17, 2011 (the &#147;<u>Initial LLC Agreement</u>&#148;);</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the Initial LLC Agreement was amended and restated in its entirety by the Amended and Restated Limited Liability Company Agreement of the Company, dated as of April&nbsp;17, 2011 and effective as of July&nbsp;8, 2011, by and among the Company and the other Persons listed on the signature pages thereto, as amended by Amendment No. 1, dated as of July&nbsp;8, 2011, Amendment No. 2, dated as of December&nbsp;28, 2011, Amendment No. 3, dated as of May&nbsp;1, 2013, and Amendment No. 4, dated as of November&nbsp;8, 2013 (as amended, the &#147;<u>A&amp;R LLC Agreement</u>&#148;);</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the A&amp;R LLC Agreement was amended and restated in its entirety by the Second Amended and Restated Limited Liability Company Agreement of the Company, dated as of December 31, 2014, by and among the Company and the other Persons listed on the signature pages thereto (the &#147;<u>Second A&amp;R LLC Agreement</u>&#148;); and</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, pursuant to the terms of the Reorganization Agreement (the &#147;<u>Reorganization Agreement</u>&#148;), dated as of the date hereof, by and among the Company, Pubco and the other Persons listed on the signature pages thereto, the parties thereto have agreed to consummate the reorganization of the Company contemplated by Section&nbsp;9.01 of the Second A&amp;R LLC Agreement and to take the other actions contemplated in such Reorganization Agreement (collectively, the &#147;<u>Reorganization</u>&#148;).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NOW, THEREFORE, in consideration of the mutual covenants and agreements herein made and other good and valuable consideration, the parties hereto hereby agree, to amend and restate the Second A&amp;R LLC Agreement in its entirety as follows:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=5,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=1027285,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:32 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;I</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DEFINITIONS AND USAGE</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;1.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Definitions</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The following terms shall have the following meanings for the purposes of this Agreement:</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Additional Member</u>&#148; means any Person admitted as a Member of the Company pursuant to Section&nbsp;3.02 in connection with the new issuance of Units to such Person.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Adjusted Capital Account Deficit</u>&#148; means, with respect to any Member, the deficit balance, if any, in such Member&#146;s Capital Account as of the end of the relevant Fiscal Year, after giving effect to the following adjustments:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Credit to such Capital Account any amounts that such Member is deemed to be obligated to restore pursuant to the penultimate sentence in Treasury Regulations Sections&nbsp;1.704-2(g)(1) and 1.704-2(i)(5); and</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Debit to such Capital Account the items described in Treasury Regulations Sections&nbsp;1.704-1(b)(2)(ii)(d)(4), 1.704-1(b)(2)(ii)(d)(5) and 1.704-1(b)(2)(ii)(d)(6).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The foregoing definition of Adjusted Capital Account Deficit is intended to comply with the provisions of Treasury Regulations Section&nbsp;1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Affiliate</u>&#148; means, with respect to any Person, any other Person directly or indirectly controlling, controlled by, or under common control with such Person; <u>provided</u> that no Member nor any Affiliate of any Member shall be deemed to be an Affiliate of any other Member or any of its Affiliates solely by virtue of such Members&#146; Units.&#160; Notwithstanding the immediately preceding sentence (i)&nbsp;(except with respect to Section&nbsp;12.11), no SL Equityholder shall be considered an Affiliate of any portfolio company in which the direct or indirect equityholders of such SL Equityholder or any of their affiliated investment funds have made a debt or equity investment (or vice versa), (ii)&nbsp;Viola will be deemed to be an Affiliate of every Viola Member and their Affiliates (and vice versa) and (iii) the Temasek Stockholder, Temasek Holdings and Temasek Holdings&#146; direct and indirect wholly owned subsidiaries the boards of directors or equivalent governing bodies of which comprise solely nominees or employees of (x) Temasek Holdings, (y) Temasek Pte Ltd. (a wholly owned subsidiary of Temasek Holdings) and/or (z) wholly owned direct and indirect subsidiaries of Temasek Pte Ltd., shall be the sole Affiliates of the Temasek Equityholders.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Affiliated Transferee</u>&#148; means (i)&nbsp;in the case of any Member that is an individual, any Transferee of such Member that is (x)&nbsp;an immediate family member of such Member, (y)&nbsp;a trust, family-partnership or estate-planning vehicle for the benefit of </font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2<a name="26867-3-NL-01_PB_2_160953_3020"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=6,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=571519,FOLIO='2',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:32 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">such Member and/or any of its immediate family members or (z)&nbsp;otherwise an Affiliate of such Member or (ii)&nbsp;in the case of any Member that is a limited liability company or other entity, any Transferee of such Member that is (x)&nbsp;an immediate family member of the individual that controls a majority of the voting or economic interest in such Member, (y)&nbsp;a trust, family-partnership or estate-planning vehicle for the benefit of such individual and/or any of its immediate family members or (z)&nbsp;otherwise an Affiliate of such Member.&#160; For the purposes of this definition, none of Pubco, the Company, Employee Holdco or any of their respective Controlled Affiliates shall be deemed to be an &#147;Affiliate&#148; of any Member and vice versa.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Algorithmic Liquidity Trading</u>&#148; means trading Financial Assets through the use of an electronically automated trading system that generates order sets (which, for purposes of clarity, can consist of a single order) with the intention of (i)&nbsp;creating profit by providing two-sided liquidity to the market, (ii)&nbsp;making a profit margin consistent with the business of making the bid-offer spread or less per unit of the Financial Asset(s) being traded (including by providing either one-sided or two sided liquidity to the market) or (iii)&nbsp;creating Simultaneous order sets that are generated with the intention of locking in an Arbitrage profit.&#160; For the avoidance of doubt, &#147;Algorithmic Liquidity Trading&#148; does not include trading in which an Order or Orders are manually generated and submitted for execution by a natural person (including, without limitation, Stop Orders, Limit Orders, Volume-Weighted Average Price Orders and other common Order types that may involve multiple instructions to a third party and which may involve such third party employing an algorithm in executing the Order provided the algorithm executes only on one side of the market as a &#147;buy&#148; or &#147;sell&#148; Order, and including a portfolio-rebalancing Order (which for the avoidance of doubt may involve both a &#147;buy&#148; and a &#147;sell&#148; component within a single Order)).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Applicable Law</u>&#148; means, with respect to any Person, any federal, state or local law (statutory, common or otherwise), constitution, treaty, convention, ordinance, code, rule, regulation, order, injunction, judgment, decree, ruling or other similar requirement enacted, adopted, promulgated or applied by a Governmental Authority or Regulatory Agency that is binding upon or applicable to such Person or its assets, as amended unless expressly specified otherwise.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Arbitrage</u>&#148; means arbitrage consistent with the practice of high frequency trading.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Available Cash Flow</u>&#148; means, for any period, the Company&#146;s consolidated net income determined in accordance with GAAP, adjusted by the Managing Member to exclude non-cash items, extraordinary or one-time items of gain or loss, any compensation expense related to Units or other Equity Securities issued under any management equity plan of Pubco or the Company, and, to the extent not reflected in consolidated net income determined in accordance with GAAP, less any Reserves established during such period (including the amount of any net increase during such period to a Reserve established in a prior period) and plus the amount of any net decrease during such period to a Reserve established by a prior period.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3<a name="26867-3-NL-01_PB_3_161010_7748"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=7,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=179871,FOLIO='3',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:32 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Business</u>&#148; means the business of trading and market making in financial instruments globally on behalf of itself and/or third parties, including trading and developing and designing algorithmic programs to evaluate or execute trades in securities, futures, swaps, options, commodities, currencies, derivatives and other financial instruments, and any reasonable extension of such businesses including the provision of trading technologies and interfaces, infrastructure, trade execution and clearing services to parties in any financial instruments globally and providing technology, services and/or investing in new trading venues, platforms or clearinghouses, and to engage in such activities as are, in the Managing Member&#146;s determination, necessary, incidental or appropriate in connection therewith, in each case, as conducted by the Company and its Subsidiaries.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Business Day</u>&#148; means a day, other than Saturday, Sunday or other day on which commercial banks in New&nbsp;York, New&nbsp;York are authorized or required by Applicable Law to close.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Capital Account</u>&#148; means the capital account established and maintained for each Member pursuant to Section&nbsp;5.02.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Capital Contribution</u>&#148; means, with respect to any Member, the amount of money and the initial Carrying Value of any Property (other than money) contributed to the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;&#147;<u>Carrying Value</u>&#148; means with respect to any Property (other than money), such Property&#146;s adjusted basis for federal income tax purposes, except as follows:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The initial Carrying Value of any such Property contributed by a Member to the Company shall be the gross fair market value of such Property, as reasonably determined by the Managing Member;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Carrying Values of all such Properties shall be adjusted to equal their respective gross fair market values (taking Section&nbsp;7701(g) of the Code into account), as reasonably determined by the Managing Member, at the time of any Revaluation pursuant to Section&nbsp;5.02(c);</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Carrying Value of any item of such Properties distributed to any Member shall be adjusted to equal the gross fair market value (taking Section&nbsp;7701(g) of the Code into account) of such Property on the date of distribution as reasonably determined by the Managing Member; and</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Carrying Values of such Properties shall be increased (or decreased) to reflect any adjustments to the adjusted basis of such Properties pursuant to Code Section&nbsp;734(b) or Code Section&nbsp;743(b), but only to the extent that such adjustments are taken into account in determining Capital Accounts pursuant to Treasury Regulations Section&nbsp;1.704-1(b)(2)(iv)(m) and subparagraph&nbsp;(vi)&nbsp;of the definition of &#147;Net Income&#148; and &#147;Net Loss&#148; or Section&nbsp;5.04(b)(vi); <u>provided</u>, <u>however</u>, that Carrying Values shall not be adjusted pursuant to this subparagraph&nbsp;(iv)&nbsp;to the extent that an adjustment pursuant to subparagraph&nbsp;(ii)&nbsp;is required in connection with a transaction that would </font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4<a name="26867-3-NL-01_PB_4_161030_141"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=8,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=708778,FOLIO='4',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:32 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">otherwise result in an adjustment pursuant to this subparagraph (iv).&#160; If the Carrying Value of such Property has been determined or adjusted pursuant to subparagraph&nbsp;(i), (ii)&nbsp;or (iv), such Carrying Value shall thereafter be adjusted by the Depreciation taken into account with respect to such asset, for purposes of computing Net Income and Net Loss.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Class A Common Stock</u>&#148; means Class A common stock, $0.00001 par value per share, of Pubco.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Class A-1 Interests</u>&#148; means Class&nbsp;A-1 Interests (as such term was defined in the Second A&amp;R LLC Agreement), all of which have been reclassified into Common Units pursuant to the Reorganization Agreement and this Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Class A-2 Capital Interests</u>&#148; means Class&nbsp;A-2 Capital Interests (as such term was defined in the Second A&amp;R LLC Agreement), all of which have been reclassified into Common Units pursuant to the Reorganization Agreement and this Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Class A-2 Profits Interests</u>&#148; means Class&nbsp;A-2 Profits Interests (as such term was defined in the Second A&amp;R LLC Agreement), all of which have been reclassified into Common Units pursuant to the Reorganization Agreement and this Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Class B Common Stock</u>&#148; means Class B common stock, $0.00001 par value per share, of Pubco.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Class B Interests</u>&#148; means Class&nbsp;B Interests (as such term was defined in the Second A&amp;R LLC Agreement), all of which have been reclassified into Common Units pursuant to the Reorganization Agreement and this Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Class C Common Stock</u>&#148; means Class C common stock, $0.00001 par value per share, of Pubco.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Class D Common Stock</u>&#148; means Class D common stock, $0.00001 par value per share, of Pubco.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Code</u>&#148; means the Internal Revenue Code of 1986, as amended from time to time.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Common Unit</u>&#148; means a common limited liability interest in the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Company Minimum Gain</u>&#148; means &#147;partnership minimum gain,&#148; as defined in Treasury Regulation Sections&nbsp;1.704-2(b)(2) and&nbsp;1.704-2(d).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Competitive Activity</u>&#148; means (i)&nbsp;serving as a director, officer, employee, trader, manager, consultant, agent or advisor of, or otherwise directly or through an Affiliate providing services to a Competitive Enterprise; (ii)&nbsp;designing or developing any </font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5<a name="26867-3-NL-01_PB_5_161052_7608"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=9,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=452711,FOLIO='5',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:32 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Competitive Technology; (iii)&nbsp;directly or through an Affiliate (A)&nbsp;engaging in Strategy Competition or (B)&nbsp;retaining or otherwise engaging any other Person to undertake any of the actions described in clauses (i), (ii), (iii)(A) or (iv)&nbsp;of this definition; (iv)&nbsp;serving as a director, officer, employee, trader, manager, consultant, agent or advisor of, or otherwise directly or through an Affiliate providing services to any business, financial institution, investment bank or other business enterprise (in any form, including without limitation as a corporation, partnership, limited liability company or other Person) that is, or whose Affiliate is, engaged in Strategy Competition, in each case except in a capacity that does not involve or require the Member to engage in any activities described in clauses (i), (ii)&nbsp;or (iii)&nbsp;of this definition above or have any direct management oversight of or involvement in Strategy Competition; (v)&nbsp;acquiring directly or through an Affiliate in the aggregate directly or beneficially, whether as a shareholder, partner, member or otherwise, any equity (including stock options or warrants, whether or not exercisable), voting or profit participation interests (collectively, &#147;<u>Ownership Interests</u>&#148;) in a Competitive Enterprise, or any derivative where the reference asset is an Ownership Interest in a Competitive Enterprise, other than a passive investment of not more than, as calculated at the time of acquisition (but after giving effect to any transaction or transactions to occur in connection with such acquisition), 1% (measured by voting power or value, whichever is greater) of the fully diluted Ownership Interests of a Competitive Enterprise (for the avoidance of doubt, such percentage interest shall be calculated based on the Member&#146;s percentage of direct and indirect ownership of the Competitive Enterprise and not any intermediary, such as a holding company or partnership) (it being understood that this clause (v)&nbsp;shall not apply to prohibit the holding of an Ownership Interest if, at the time of acquisition of such Ownership Interest, the Person in which such direct or indirect Ownership Interest is acquired is not a Competitive Enterprise and the Member is not aware at the time of such acquisition, after reasonable inquiry, that such Person has any plans to become a Competitive Enterprise); or (vi)&nbsp;directly or through an Affiliate owning any Ownership Interests in any Person listed in <u>Schedule&nbsp;A</u> (or any parent company or entity of a Person listed in <u>Schedule&nbsp;A</u> or any successors thereto, other than a parent company or entity that is not a Competitive Enterprise) (a &#147;<u>Restricted Investment</u>&#148;), or any derivative where the reference asset is an Ownership Interest in a Restricted Investment, except to the extent such Ownership Interests or derivatives are held through an index fund, an exchange traded fund, a mutual fund, hedge fund, or other form of collective investment or fund, or through a managed account, in each case, where a third party that is not affiliated with the Member exercises sole investment discretion in respect of such fund or account and such third party has not disclosed at the time Member makes his or its investment that it holds or intends to hold any Ownership Interests in a Restricted Investment.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Competitive Enterprise</u>&#148; means any Person or business enterprise (in any form, including without limitation as a corporation, partnership, limited liability company or other Person), or subsidiary, division, unit, group or portion thereof, whose primary business is (A)&nbsp;engaging in Strategy Competition; or (B)&nbsp;engaging in any other business in which the Company or any of its Subsidiaries engages in a material way, or has concrete plans to engage in a material way as of the Relevant Date, in each case as reasonably determined by the Managing Member.&#160; For the sake of clarity, in the case of a subsidiary, division, unit, group or portion whose primary business is described above:</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6<a name="26867-3-NL-01_PB_6_161104_8146"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=10,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=329635,FOLIO='6',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:32 2015' -->

<div>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)&nbsp;the larger business enterprise or Person owning such subsidiary, division, unit, group or portion shall not be deemed to be a Competitive Enterprise unless the primary business of such larger business enterprise or Person is engaged in Strategy Competition and (2)&nbsp;the subsidiary, division, unit, group or portion whose primary business is engaging in Strategy Competition shall be deemed a Competitive Enterprise.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Competitive Technology</u>&#148; means any system, program, hardware or software (including any network architecture, system architecture, messaging architecture, trade processing and clearing systems and architecture, database architecture and storage of market and trading data for purposes of statistical analysis, network infrastructure, market data processing and messaging types that support such market data processing, order processing or any other software or hardware): (a)&nbsp;only if developed for one or more financial institution(s)&nbsp;or designed primarily for use by, or sale or license to, one or more financial institutions, is (i)&nbsp;used (or will be used in the future in its current or any enhanced or modified form) in Strategy Competition to evaluate, route or execute orders or trades in any Financial Asset or (ii)&nbsp;used (or will be used in the future in its current or any enhanced or modified form) in Strategy Competition for the efficient processing and dissemination of market data or messaging for Financial Assets, or (b)&nbsp;in any case, is specifically designed or intended for use in Strategy Competition.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Control</u>&#148; (including the terms &#147;<u>controlling</u>&#148; and &#147;<u>controlled</u>&#148;), with respect to the relationship between or among two or more Persons, means the possession, directly or indirectly, of the power to direct or cause the direction of the affairs or management of such subject Person, whether through the ownership of voting securities, as trustee or executor, by contract or otherwise.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Covered Person</u>&#148; means (i)&nbsp;each Equityholder or an Affiliate thereof, in each case in such capacity, (ii)&nbsp;each officer, director, shareholder, member, partner, employee, representative, agent or trustee of a Member or an Affiliate thereof, in all cases in such capacity, and (iii)&nbsp;each officer, director, shareholder (other than any public shareholder of Pubco that is not an Equityholder or a Member TJMT Holdings, Employee HoldCo), member, partner, employee, representative, agent or trustee of the Managing Member, Pubco (in the event Pubco is not the Managing Member), the Company or an Affiliate controlled thereby, in all cases in such capacity.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Credit Agreement</u>&#148; means the Second Amended and Restated Credit Agreement, dated as of November&nbsp;8, 2013, among the Company, as Holdings, Parent LLC, as Borrower, the lenders party thereto, Credit Suisse AG, Cayman Islands Branch, as Administrative Agent, Credit Suisse Securities (USA) LLC, as Sole Lead Arranger and Bookrunner (or any refinancings or replacements thereof).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Delaware Act</u>&#148; means the Delaware Limited Liability Company Act, 6&nbsp;Del. C.&nbsp;&#167;&#167;&nbsp;18-101 <u>et</u>&nbsp;<u>seq</u>.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Depreciation</u>&#148; means, for each Fiscal Year, an amount equal to the depreciation, amortization, or other cost recovery deduction allowable with respect to an asset for such Fiscal Year, except that if the Carrying Value of an asset differs from its adjusted basis for federal income tax purposes at the beginning of such Fiscal Year, </font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7<a name="26867-3-NL-03_PB_7_161302_455"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=11,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=47361,FOLIO='7',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:58 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Depreciation shall be an amount that bears the same ratio to such beginning Carrying Value as the federal income tax depreciation, amortization, or other cost recovery deduction for such Fiscal Year bears to such beginning adjusted tax basis; <u>provided</u>, <u>however</u>, that if the adjusted basis for federal income tax purposes of an asset at the beginning of such Fiscal Year is zero, Depreciation shall be determined with reference to such beginning Carrying Value using any reasonable method selected by the Managing Member.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>DGCL</u>&#148; means the State of Delaware General Corporation Law, as amended from time to time.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>East</u>&#148; means Virtu Financial Operating LLC, a Delaware limited liability company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Employee Equity Letters</u>&#148; means (i)&nbsp;those certain Unit Vesting, Equity Retention and Restrictive Covenant Agreements by and between Pubco, the Company and certain Non-Pubco Members party thereto, (ii)&nbsp;those certain Equity Retention and Restrictive Covenant Agreements by and between Pubco, the Company and certain Non-Pubco Members party thereto and (iii)&nbsp;those certain Unit Vesting, Equity Retention and Restrictive Covenant Agreements by and between Pubco, the Company and the members of Employee Holdco, in each case dated as of the date hereof.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Employee Holdco LLC Agreement</u>&#148; means the limited liability company agreement of Employee Holdco.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Employee Holdco</u>&#148; means Virtu Employee Holdco LLC, a Delaware limited liability company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Equity Purchase Agreements</u>&#148; means (i)&nbsp;the Purchase Agreement by and between Pubco and SL Stockholder and (ii)&nbsp;the Purchase Agreement by and among Pubco and certain members of the Company, in each case dated as of the date hereof.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Equity Redemption and Purchase Agreement</u>&#148; means that certain Equity Redemption and Purchase Agreement, dated as of December&nbsp;7, 2014, by and among Pre-IPO Temasek Member, Temasek Stockholder, Silver Lake Partners III DE (AIV III), L.P., Silver Lake Technology Investors III, L.P., SL Stockholder, the management parties thereto, Silver Lake Technology Associates III, L.P., and, solely for the purposes of the provisions expressly referred to therein, SLP Virtu Investors, LLC, Employee Holdco and the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Equity Securities</u>&#148; means, with respect to any Person, any (i)&nbsp;membership interests or shares of capital stock, (ii)&nbsp;equity, ownership, voting, profit or participation interests or (iii)&nbsp;similar rights or securities in such Person or any of its Subsidiaries, or any rights or securities convertible into or exchangeable for, options or other rights to acquire from such Person or any of its Subsidiaries, or obligation on the part of such Person or any of its Subsidiaries to issue, any of the foregoing.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8<a name="26867-3-NL-03_PB_8_161325_4141"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=12,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=328061,FOLIO='8',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:58 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Exchange Agreement</u>&#148; means the Exchange Agreement, dated as of the date hereof, by and among Pubco, the Company and the holders of Common Units and shares of Class&nbsp;C Common Stock and Class&nbsp;D Common Stock from time to time party thereto.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Exchanged Shares</u>&#148; means any shares of Class&nbsp;A Common Stock or Class&nbsp;B Common Stock issued in exchange for Paired Interests pursuant to the Exchange Agreement.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Financial Asset</u>&#148; means commodities, currencies, equities, notes, bonds, securities, evidence of indebtedness and derivatives thereof.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>FINRA</u>&#148; means the Financial Industry Regulatory Authority,&nbsp;Inc.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Fiscal Year</u>&#148; means the Company&#146;s fiscal year, which shall initially be the calendar year and which may be changed from time to time as determined by the Managing Member.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Form&nbsp;8-A Effective Time</u>&#148; has the meaning set forth in the Reorganization Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Governmental Authority</u>&#148; means any transnational, domestic or foreign federal, state or local governmental, regulatory or administrative authority, department, court, agency or official, including any political subdivision thereof.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Indebtedness</u>&#148; means (a)&nbsp;all indebtedness for borrowed money (including capitalized lease obligations, sale-leaseback transactions or other similar transactions, however evidenced), (b)&nbsp;any other indebtedness that is evidenced by a note, bond, debenture, draft or similar instrument, (c)&nbsp;notes payable and (d)&nbsp;lines of credit and any other agreements relating to the borrowing of money or extension of credit.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Intermediate Holdings I</u>&#148; means Virtu Financial Intermediate Holdings LLC, a Delaware limited liability company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Intermediate Holdings II</u>&#148; means Virtu Financial Intermediate Holdings II LLC, a Delaware limited liability company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Involuntary Transfer</u>&#148; means any Transfer of Units by a Member resulting from (i)&nbsp;any seizure under levy of attachment or execution, (ii)&nbsp;any bankruptcy (whether voluntary or involuntary), (iii)&nbsp;any Transfer to a state or to a public officer or agency pursuant to any statute pertaining to escheat or abandoned property, (iv)&nbsp;any divorce or separation agreement or a final decree of a court in a divorce action or (v)&nbsp;death or permanent disability.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>IPO</u>&#148; means the initial underwritten public offering of Pubco.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>IRS</u>&#148; means the Internal Revenue Service of the United States.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9<a name="26867-3-NL-03_PB_9_161338_8627"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=13,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=290293,FOLIO='9',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:58 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Jaguar Trading</u>&#148; means trading through the use of electronically automated means to analyze and act upon Economic Numerical Data (i.e., economic data released by government agencies, quasi-governmental agencies, or industry groups commonly tracked by investors (e.g., ADP or Gallup employment data, the Michigan Consumer Sentiment Index and National Association of Realtors home-sale data)) with the intent to enter a position within two seconds after the public (or equivalent) release of such economic numerical data, including by using models and algorithms to predict the effect on prices of such economic numerical data.&#160; Economic Numerical Data does not include financial instrument price and volume data.&#160; Jaguar Trading does not include trading in which each instruction to acquire or dispose of a specified quantity of a single instrument is individually manually generated and submitted for execution by a natural person (and not by any algorithmic means), even if such Order is executed within two seconds after the release of such economic numerical data (for example, and without limitation, the execution of a previously placed Stop Order triggered after the release of economic numerical data).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Liens</u>&#148; means any pledge, encumbrance, security interest, purchase option, conditional sale agreement, call or similar right.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Limited Ownership Minimum</u>&#148; means, with respect to the SL Equityholders, the Temasek Equityholders or the Viola Members, as the case may be, if the number of its Owned Shares exceeds [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],(1)&nbsp;as adjusted for any stock split, stock dividend, reverse stock split, combination, recapitalization, reclassification or similar event.</font></p>
<p style="margin:0in 0in .0001pt .25in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Managing Member</u>&#148; means (i)&nbsp;Pubco so long as Pubco has not withdrawn as the Managing Member pursuant to Section&nbsp;7.02 and (ii)&nbsp;any successor thereof appointed as Managing Member in accordance with Section&nbsp;7.02.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Member</u>&#148; means any Person named as a Member of the Company on the Member Schedule&nbsp;and the books and records of the Company, as the same may be amended from time to time to reflect any Person admitted as an Additional Member or a Substitute Member, for so long as such Person continues to be a Member of the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Member Nonrecourse Debt</u>&#148; has the same meaning as the term &#147;partner nonrecourse debt&#148; in Treasury Regulations Section&nbsp;1.704-2(b)(4).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Member Nonrecourse Debt Minimum Gain</u>&#148; means an amount with respect to each &#147;partner nonrecourse debt&#148; (as defined in Treasury Regulation Section&nbsp;1.704-2(b)(4)) equal to the Company Minimum Gain that would result if such partner nonrecourse debt were treated as a nonrecourse liability (as defined in Treasury </font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="1" width="25%" noshade color="black" align="left"></div>
<p style="margin:0in 0in .0001pt .25in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Note to Draft</font></u><font size="2" style="font-size:10.0pt;">: To be a number equal to at least 25.9% of the Class&nbsp;A common stock held by the Silver Lake Parties immediately prior to the IPO (calculated assuming that all of the SL Parties&#146; Common Stock and corresponding shares of Class&nbsp;C common stock are exchanged for Class&nbsp;A common stock).</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10<a name="26867-3-NL-03_PB_10_161433_7906"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=14,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=266958,FOLIO='10',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:58 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Regulation Section&nbsp;1.752-1(a)(2)) determined in accordance with Treasury Regulation Section&nbsp;1.704-2(i)(3).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Member Nonrecourse Deductions</u>&#148; has the same meaning as the term &#147;partner nonrecourse deductions&#148; in Treasury Regulations Sections&nbsp;1.704-2(i)(1)&nbsp;and 1.704-2(i)(2).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Merger Sub I</u>&#148; means Virtu Financial Merger Sub LLC, a Delaware limited liability company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Merger Sub II</u>&#148; means Virtu Financial Merger Sub II LLC, a Delaware limited liability company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>MIP</u>&#148; means the Virtu Financial LLC Management Incentive Plan, as the same may be amended from time to time.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>MTH Transaction Agreement</u>&#148; means the Transaction and Merger Agreement, dated as of April&nbsp;17, 2011, and amended as of July&nbsp;8, 2011, by and among the Company, Parent LLC, West, East and the other parties signatory thereto.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>MTH Transaction Documents</u>&#148; means (i)&nbsp;the MTH Transaction Agreement and (ii)&nbsp;the Ancillary Agreements and the Specified Agreements (as each such term is defined in the MTH Transaction Agreement).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>MTH Transaction Effective Date</u>&#148; means July&nbsp;8, 2011.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Net Income</u>&#148; and &#147;<u>Net Loss</u>&#148; mean, for each Fiscal Year or other period, an amount equal to the Company&#146;s taxable income or loss for such Fiscal Year or period, determined in accordance with Section&nbsp;703(a)&nbsp;of the Code (for this purpose, all items of income, gain, loss, or deduction required to be stated separately pursuant to Section&nbsp;703(a)(1)&nbsp;of the Code shall be included in taxable income or loss), with the following adjustments (without duplication):</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Any income of the Company that is exempt from federal income tax and not otherwise taken into account in computing Net Income or Net Loss pursuant to this definition of &#147;Net Income&#148; and &#147;Net Loss&#148; shall be added to such taxable income or loss;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Any expenditures of the Company described in Section&nbsp;705(a)(2)(B)&nbsp;of the Code or treated as Section&nbsp;705(a)(2)(B)&nbsp;of the Code expenditures pursuant to Treasury Regulations Section&nbsp;1.704-1(b)(2)(iv)(i), and not otherwise taken into account in computing Net Income and Net Loss pursuant to this definition of &#147;Net Income&#148; and &#147;Net Loss,&#148; shall be treated as deductible items;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">In the event the Carrying Value of any Company asset is adjusted pursuant to subparagraphs (ii)&nbsp;or (iii)&nbsp;of the definition of &#147;Carrying Value,&#148; the amount of such adjustment shall be treated as an item of gain (if the adjustment increases the Carrying Value of the asset) or an item of loss (if the adjustment decreases the </font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11<a name="26867-3-NL-03_PB_11_161509_3736"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=15,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=405479,FOLIO='11',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:58 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Carrying Value of the asset) from the disposition of such asset and shall be taken into account, immediately prior to the event giving rise to such adjustment, for purposes of computing Net Income and/or Net Loss;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Gain or loss resulting from any disposition of Property with respect to which gain or loss is recognized for federal income tax purposes shall be computed by reference to the Carrying Value of the Property disposed of, notwithstanding that the adjusted tax basis of such Property differs from its Carrying Value;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">In lieu of the depreciation, amortization, and other cost recovery deductions taken into account in computing such taxable income or loss, there shall be taken into account Depreciation for such Fiscal Year, computed in accordance with the definition of Depreciation;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">To the extent an adjustment to the adjusted tax basis of any Company asset pursuant to Section&nbsp;734(b)&nbsp;of the Code is required, pursuant to Treasury Regulations Section&nbsp;1.704-(b)(2)(iv)(m)(4), to be taken into account in determining Capital Accounts as a result of a distribution other than in liquidation of a Member&#146;s interest in the Company, the amount of such adjustment shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis) from the disposition of such asset and shall be taken into account for purposes of computing Net Income or Net Loss; and</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Notwithstanding any other provision of this definition, any items that are specially allocated pursuant to Section&nbsp;5.04(b), Section&nbsp;5.04(c)&nbsp;and Section&nbsp;5.04(d)&nbsp;shall not be taken into account in computing Net Income and Net Loss.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The amounts of the items of Company income, gain, loss, or deduction available to be specially allocated pursuant to Section&nbsp;5.04(b), Section&nbsp;5.04(c)&nbsp;and Section&nbsp;5.04(d)&nbsp;shall be determined by applying rules&nbsp;analogous to those set forth in subparagraphs&nbsp;(i)&nbsp;through (vi)&nbsp;above.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Non-Pubco Member</u>&#148; means any Member that is not a Pubco Member.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Nonrecourse Deductions</u>&#148; has the meaning set forth in Treasury Regulations Sections&nbsp;1.704-2(b)(1)&nbsp;and 1.704-2(c).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Order</u>&#148; means an instruction to acquire or dispose of a specified quantity or amount of a Financial Asset.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Owned Shares</u>&#148;&#160; with respect to the SL Equityholders, the Temasek Equityholders or the Viola Members, as the case may be, the total number of shares of Class&nbsp;A Common Stock beneficially owned (as such term is defined in Rule&nbsp;13d-3 and Rule&nbsp;13d-5 under the Exchange Act) by the SL Equityholders, the Temasek Equityholders or the Viola Members, as the case may be (including, for the purposes of this definition, any Person that owns either Units or Pubco Common Stock and that otherwise qualifies under the definition of &#147;SL Equityholder&#148;, &#147;Temasek Equityholder&#148; </font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12<a name="26867-3-NL-03_PB_12_161531_9621"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=16,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=705141,FOLIO='12',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:58 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">or &#147;Viola Member&#148;, as the case may be), in the aggregate and without duplication, as of the date of such calculation (determined on an &#147;as-converted&#148; basis taking into account any and all securities then convertible into, or exercisable or exchangeable for, shares of Class&nbsp;A Common Stock (including Common Units and shares of Class&nbsp;C Common Stock exchangeable pursuant to the Exchange Agreement).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Ownership Minimum</u>&#148; means, with respect to the SL Members, the Temasek Equityholders or the Viola Members, as the case may be, if the number of its Owned Shares exceeds [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],(2)&nbsp;as adjusted for any stock split, stock dividend, reverse stock split, combination, recapitalization, reclassification or similar event.</font></p>
<p style="margin:0in 0in .0001pt .25in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Paired Interest</u>&#148; has the meaning set forth in the Exchange Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Parent LLC</u>&#148; means VFH Parent LLC, a Delaware limited liability company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Participating Unvested Common Units</u>&#148; means Unvested Common Units that have been reclassified from Class&nbsp;A-2 Profits Interests that remain subject to further vesting requirements under the terms of such Class&nbsp;A-2 Profits Interests.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Percentage Interest</u>&#148; means, with respect to any Member, a fractional amount, expressed as a percentage: (i)&nbsp;the numerator of which is the aggregate number of Common Units owned of record thereby (excluding any Unvested Common Units other than Participating Unvested Common Units) and (ii)&nbsp;the denominator of which is the aggregate number of Common Units issued and outstanding (excluding any Unvested Common Units other than Participating Unvested Common Units).&#160; The sum of the outstanding Percentage Interests of all Members shall at all times equal 100%.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Person</u>&#148; means any individual, firm, corporation, partnership, limited liability company, trust, estate, joint venture, governmental authority or other entity.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Plan Assets Regulation</u>&#148; means the Department of Labor regulations codified at 29 CFR Section&nbsp;2510.3-101.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Post-IPO SL Members</u>&#148; means (i)&nbsp;SLP Virtu Investors, LLC, a Delaware limited liability company, and (ii)&nbsp;Silver Lake Technology Associates&nbsp;III, L.P., a Delaware limited partnership.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Pre-IPO Temasek Member</u>&#148; means Wilbur Investments LLC, a Delaware limited liability company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Prime Rate</u>&#148; means the rate of interest from time to time identified by JP Morgan Chase, N.A. as being its &#147;prime&#148; or &#147;reference&#148; rate.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="1" width="25%" noshade color="black" align="left"></div>
<p style="margin:0in 0in .0001pt .25in;punctuation-wrap:simple;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Note to Draft</font></u><font size="2" style="font-size:10.0pt;">: To be a number equal to at least 51.8% of the Class&nbsp;A common stock held by the Silver Lake Parties immediately prior to the IPO (calculated assuming that all of the SL Parties&#146; Common Stock and corresponding shares of Class&nbsp;C common stock are exchanged for Class&nbsp;A common stock).</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13<a name="26867-3-NL-03_PB_13_161619_8715"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=17,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=374137,FOLIO='13',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:58 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Property</u>&#148; means an interest of any kind in any real, personal or intellectual (or mixed) property, including cash, and any improvements thereto, and shall include both tangible and intangible property.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Pubco Common Stock</u>&#148; means all classes and series of common stock of Pubco, including the Class&nbsp;A Common Stock, Class&nbsp;B Common Stock, Class&nbsp;C Common Stock and Class&nbsp;D Common Stock.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Pubco Equity Plan</u>&#148; means the Virtu Financial,&nbsp;Inc. 2014 Equity Incentive Plan, as the same may be amended from time to time.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Pubco Member</u>&#148; means (i)&nbsp;Pubco and (ii)&nbsp;any Subsidiary of Pubco (other than the Company and its Subsidiaries) that that is a Member (including, as of immediately following the Reorganization,&nbsp;Intermediate Holdings I and Intermediate Holdings II).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Pubco Subscription Agreements</u>&#148; means those certain Subscription Agreements by and between Pubco and each of the Non-Pubco Members as of the date hereof, dated as of the date hereof.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Registration Rights Agreement</u>&#148; means the Registration Rights Agreement, dated as of the date hereof, by and among Pubco, SL Stockholder, Temasek Stockholder and the Non-Pubco Members party thereto (which the parties hereto acknowledge and agree replaces the form of Registration Rights Agreement attached as <u>Exhibit&nbsp;A</u> to the Second A&amp;R LLC Agreement).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Regulatory Agency</u>&#148; means the SEC, FINRA, the Financial Services Authority, any non-U.S. regulatory agency and any other regulatory authority or body (including any state or provincial securities authority and any self-regulatory organization) with jurisdiction over the Company or any of its Subsidiaries.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Relative Percentage Interest</u>&#148; means, with respect to any Member relative to another Member or Members, a fractional amount, expressed as a percentage, the numerator of which is the Percentage Interest of such Member; and the denominator of which is (x)&nbsp;the Percentage Interest of such Member <u>plus</u> (y)&nbsp;the aggregate Percentage Interest of such other Member or Members.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Relevant Date</u>&#148; means, with respect to any Restricted Member, (i)&nbsp;for as long the Termination Date has not occurred with respect to such Restricted Member, the date that such Restricted Member engages in any activity that is prohibited by Section&nbsp;9.04 and (ii)&nbsp;if the Termination Date has occurred with respect to such Restricted Member, such Termination Date.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Reorganization Date Capital Account Balance</u>&#148; means, with respect to any Member, the positive Capital Account balance of such Member as of immediately following the Reorganization, the amount or deemed value of which is set forth on the Member Schedule.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14<a name="26867-3-NL-03_PB_14_161638_563"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=18,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=894211,FOLIO='14',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:58 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Reorganization Documents</u>&#148; means the Reorganization Agreement, this Agreement, the SL-Temasek Merger Agreement, the Temasek Merger Agreement, the Tax Receivable Agreements, the Exchange Agreement, the SL Stockholders Agreement, the Registration Rights Agreement, the Pubco Subscription Agreement, the Employee Equity Letters, the MIP and the Equity Purchase Agreements.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Reserves</u>&#148; means, as of any date of determination, amounts allocated by the Managing Member, in its reasonable judgment, to reserves maintained for working capital of the Company, for contingencies of the Company, for operating expenses and debt reduction of the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Restricted Member</u>&#148; means the Persons identified on <u>Schedule&nbsp;B</u>.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>SEC</u>&#148; means the United&nbsp;States Securities and Exchange Commission.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Simultaneous</u>&#148; means, with respect to more than one event, the occurrence of such events occurring within 500 milliseconds of each other.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>SL</u>&#148; means SLP Virtu Investors, LLC. or any other SL Equitholder designated in writing to the Company as such by SL.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>SL Equityholder</u>&#148; means the SL Members and the SL Stockholder (so long as it owns Pubco Common Stock) and any Affiliate thereof that owns Pubco Common Stock.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>SL Members</u>&#148; means the Post-IPO SL Members and&nbsp;any other investment fund managed, sponsored, controlled or advised by SL&#146;s investment manager or any of its Affiliates that owns Units.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>SL-Temasek Merger Agreement</u>&#148; means the Merger Agreement, dated as of the date hereof, by and among Pubco, Merger Sub I,&nbsp;Intermediate Holdings I, SLP&nbsp;III EW Feeder LLC, a Delaware limited liability company, SL Stockholder, and Temasek Stockholder.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>SL Stockholder</u>&#148; means SLP&nbsp;III EW Feeder I, L.P., a Delaware limited partnership.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>SL Stockholders Agreement</u>&#148; means the Stockholders Agreement, dated as of the date hereof, by and among Pubco, the Post-IPO SL Members, SL Stockholder, Viola, TJMT Holdings and the other Persons party thereto or that may become parties thereto from time to time.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Strategy Competition</u>&#148; means (i)&nbsp;trading activities that utilize trading strategies that constitute Algorithmic Liquidity Trading or Jaguar Trading or (ii)&nbsp;any other strategy in which the Company or any of its Subsidiaries engages in a material way or has concrete plans to engage in a material way as of the Relevant Date, in each case as reasonably determined by the Managing Member.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15<a name="26867-3-NL-03_PB_15_161658_9497"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=19,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=786452,FOLIO='15',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:58 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Subsidiary</u>&#148; means, with respect to any Person, any corporation, partnership, limited liability company, association, joint venture or other business entity of which more than 50% of the total voting power of Equity Securities or other ownership interests entitled (without regard to the occurrence of any contingency) to vote in the election of the Person or Persons (whether directors, managers, trustees or other Persons performing similar functions) having the power to direct or cause the direction of the management and policies thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Substitute Member</u>&#148; means any Person admitted as a Member of the Company pursuant to Section&nbsp;3.02 in connection with the Transfer of then-existing Units to such Person.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Tax Distribution</u>&#148; means a distribution made by the Company pursuant to Section&nbsp;5.03(e)(i)&nbsp;or Section&nbsp;5.03(e)(iii)&nbsp;or a distribution made by the Company pursuant to another provision of Section&nbsp;5.03 but designated as a Tax Distribution pursuant to Section&nbsp;5.03(e)(ii).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Tax Distribution Amount</u>&#148; means, with respect to a Member&#146;s Units, whichever of the following applies with respect to the applicable Tax Distribution, in each case in amount not less than zero:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">With respect to a Tax Distribution pursuant to Section&nbsp;5.03(e)(i), the excess, if any, of (A)&nbsp;such Member&#146;s required annualized income installment for such estimated payment date under Section&nbsp;6655(e)&nbsp;of the Code, assuming that (w)&nbsp;such Member is a corporation (which assumption, for the avoidance of doubt, shall not affect the determination of the Tax Rate), (x)&nbsp;Section&nbsp;6655(e)(2)(C)(ii)&nbsp;is in effect, (y)&nbsp;such Member&#146;s only income is from the Company, and (z)&nbsp;the Tax Rate applies, which amount shall be calculated based on the projections believed by the Managing Member in good faith to be, reasonable projections of the net taxable income to be allocated to such Units pursuant to this Agreement and without regard to any adjustments pursuant to Section&nbsp;704(c)&nbsp;or Section&nbsp;743(b)&nbsp;of the Code over (B)&nbsp;the aggregate amount of Tax Distributions designated by the Company pursuant to Section&nbsp;5.03(e)(ii)&nbsp;with respect to such Units since the date of the previous Tax Distribution pursuant to Section&nbsp;5.03(e)(i)&nbsp;(or if no such Tax Distribution was required to be made, the date such Tax Distribution would have been made pursuant to Section&nbsp;5.03(e)(i)).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">With respect to the designation of an amount as a Tax Distribution pursuant to Section&nbsp;5.03(e)(ii), the product of (x)&nbsp;the net taxable income, determined without regard to any adjustments pursuant to Section&nbsp;704(c)&nbsp;or Section&nbsp;743(b)&nbsp;of the Code projected, in the good faith belief of the Managing Member, to be allocated to such Units pursuant to this Agreement during the period since the date of the previous Tax Distribution (or, if more recent, the date that the previous Tax Distribution pursuant to Section&nbsp;5.03(e)(i)&nbsp;would have been made or, in the case of the</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16<a name="26867-3-NL-03_PB_16_161714_3641"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=20,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=309880,FOLIO='16',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 05:58 2015' -->

<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">first distribution pursuant to Section&nbsp;5.03(b), the date of this Agreement), and (y)&nbsp;the Tax Rate.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">With respect to an entire Fiscal Year to be calculated for purposes of Section&nbsp;5.03(e)(iii), the excess, if any, of (A)&nbsp;the product of (x)&nbsp;the net taxable income, determined without regard to any adjustments pursuant to Section&nbsp;704(c)&nbsp;or Section&nbsp;743(b)&nbsp;of the Code, allocated to such Units pursuant to this Agreement for the relevant Fiscal Year, and (y)&nbsp;the Tax Rate, over (B)&nbsp;the aggregate amount of Tax Distributions (other than Tax Distributions under Section&nbsp;5.03(e)(iii)&nbsp;with respect to a prior Fiscal Year) with respect to such Units made with respect to such Fiscal Year.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For purposes of this Agreement, in determining the Tax Distribution Amount of a Member, the taxable income allocated to such Member&#146;s Units shall be offset by any taxable losses (determined without regard to any adjustments pursuant to Section&nbsp;704(c)&nbsp;or Section&nbsp;743(b)&nbsp;of the Code) previously allocated to such Units to the extent such losses were not allocated in the same proportion as the Member&#146;s Percentage Interests and have not previously offset taxable income in the determination of the Tax Distribution Amount.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Tax Rate</u>&#148; means the highest marginal tax rates for an individual or corporation that is resident in New&nbsp;York City applicable to ordinary income, qualified dividend income or capital gains, as appropriate, taking into account the holding period of the assets disposed of and the year in which the taxable net income is recognized by the Company, and taking into account the deductibility of state and local income taxes as applicable at the time for federal income tax purposes and any limitations thereon including pursuant to Section&nbsp;68 of the Code, which Tax Rate shall be the same for all Members and shall not be less than 45%.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Tax Receivable Agreements</u>&#148; means (i)&nbsp;the Tax Receivable Agreement by and among Pubco, TJMT Holdings, Employee Holdco and the other persons listed on the signature pages&nbsp;thereto, (ii)&nbsp;the Tax Receivable Agreement by and among Pubco and the SL Members and (iii)&nbsp;the Tax Receivable Agreement by and among Pubco, the SL Stockholder and the Temasek Stockholder.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Temasek</u>&#148; means the Temasek Stockholder or any other Temasek Equityholder designated in writing to the Company as such by Temasek.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Temasek Equityholder</u>&#148; means the Temasek Stockholder (so long as it owns Pubco Common Stock) and any Affiliate thereof that owns Pubco Common Stock.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Temasek Holdings</u>&#148; means Temasek Holdings (Private) Limited, a Singapore private limited company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Temasek Merger Agreement</u>&#148; means the Merger Agreement, dated as of the date hereof, by and among Pubco, Merger Sub II,&nbsp;Intermediate Holdings II, the Pre-IPO Temasek Member and Temasek Stockholder.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17<a name="26867-3-NL-05_PB_17_152856_7056"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=21,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=610985,FOLIO='17',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-05_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:01 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Temasek Stockholder</u>&#148; means Havelock Fund Investments Pte Ltd., a Singapore private limited company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Termination Date</u>&#148; means, with respect to any Restricted Member, the date such Restricted Member ceases to be employed by Pubco, the Company or any of their respective Controlled Affiliates.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>TJMT Holdings</u>&#148; means TJMT Holdings LLC (f/k/a Virtu Holdings LLC), a Delaware limited liability company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Transfer</u>&#148; means any sale, assignment, transfer, exchange, gift, bequest, pledge, hypothecation or other disposition or encumbrance, direct or indirect, in whole or in part, by operation of law or otherwise, and shall include all matters deemed to constitute a Transfer under Article&nbsp;VIII.&#160; The terms &#147;<u>Transferred</u>&#148;, &#147;<u>Transferring</u>&#148;, &#147;<u>Transferor</u>&#148;, &#147;<u>Transferee</u>&#148; and &#147;<u>Transferable</u>&#148; have meanings correlative to the foregoing.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Treasury Regulations</u>&#148; mean the regulations promulgated under the Code, as amended from time to time.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Units</u>&#148; means Common Units or any other class of limited liability interests in the Company designated by the Company after the date hereof in accordance with this Agreement; <u>provided</u> that any type, class or series of Units shall have the designations, preferences and/or special rights set forth or referenced in this Agreement, and the membership interests of the Company represented by such type, class or series of Units shall be determined in accordance with such designations, preferences and/or special rights.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Unvested Common Unit</u>&#148; means, on any date of determination, any Common Unit held by a Member that is not &#147;vested&#148; in accordance with the MIP and such Member&#146;s (or its direct or indirect Transferor&#146;s) applicable Employee Equity Letter.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Unvested Member</u>&#148; means any Member that is a holder of Unvested Common Units in such Member&#146;s capacity as a holder of such Unvested Common Units.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Vested Common Unit</u>&#148; means, on any date of determination, any Common Unit held by a Member that is &#147;vested&#148; in accordance with the MIP and such Member&#146;s (or its direct or indirect Transferor&#146;s) applicable Employee Equity Letter.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Viola</u>&#148; means Vincent Viola, an individual.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Viola Members</u>&#148; means (i)&nbsp;Viola, (ii)&nbsp;TJMT Holdings and (iii)&nbsp;any Affiliated Transferee of a Viola Member that owns Units from time to time; <u>provided</u>, that under no circumstances shall Employee Holdco be deemed a Viola Member.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>West</u>&#148; means Virtu-MTH Holdings LLC, a Delaware limited liability company.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18<a name="26867-3-NL-05_PB_18_152921_5335"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=22,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=718939,FOLIO='18',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-05_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:01 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Each of the following terms is defined in the Section&nbsp;set forth opposite such term:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="55%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Term</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.06%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="41%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:41.1%;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Section</font></b></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">645 Madison</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.03</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A&amp;R LLC Agreement</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Agreement</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Call Member</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.05(a)</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Call Notice</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.05(a)</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Call Paired Interests</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.05(a)</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Call Price</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.05(b)</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cifu</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.07(a)</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Company</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Company Parties</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.04(b)</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Confidential Information</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12.11(b)</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Controlled Entities</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.02(e)</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dissolution Event</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11.01(c)</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Economic Pubco Security</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.01(a)</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">e-mail</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12.03</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Employee Holdco Action</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.09(a)</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Employee Holdco Interests</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.09(a)</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Employee Holdco Members</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.09(a)</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Equityholder Parties</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12.11(a)</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Equityholders</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12.11(a)</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Expenses</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.02(e)</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">GAAP</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.03(b)</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Hypothetical Liquidation Value</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.01(a)</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Indemnification Sources</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.02(e)</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Indemnitee-Related Entities</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.02(e)(i)</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Initial LLC Agreement</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Jointly Indemnifiable Claims</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.02(e)(ii)</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Lease</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.03</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Member Schedule</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.01(a)</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Officers</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.08(a)</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">PROCESS AGENT</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12.05(b)</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pubco</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Regulatory Allocations</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.04(c)</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Reorganization</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Reorganization Agreement</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Revaluation</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.02(c)</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SL Investor</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Tax Matters Partner</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.01</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Transferor Member</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.02(b)</font></p>    </td>   </tr>
<tr>
<td width="55%" valign="top" style="padding:0in 0in 0in 0in;width:55.84%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Withholding Advances</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.1%;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.06(b)</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;1.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Other Definitional and Interpretative Provisions</font></u><font size="2" style="font-size:10.0pt;">.&#160; The words &#147;hereof&#148;, &#147;herein&#148; and &#147;hereunder&#148; and words of like import used in this</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19<a name="26867-3-NL-05_PB_19_153133_5796"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=23,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=142370,FOLIO='19',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-05_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:01 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement.&#160; The captions herein are included for convenience of reference only and shall be ignored in the construction or interpretation hereof.&#160; References to Articles, Sections and Schedules&nbsp;are to Articles, Sections and Schedules&nbsp;of this Agreement unless otherwise specified.&#160; All Schedules&nbsp;annexed hereto or referred to herein are hereby incorporated in and made a part of this Agreement as if set forth in full herein.&#160; Any capitalized terms used in any Schedule&nbsp;but not otherwise defined therein, shall have the meaning as defined in this Agreement.&#160; Any singular term in this Agreement shall be deemed to include the plural, and any plural term the singular.&#160; Whenever the words &#147;include&#148;, &#147;includes&#148; or &#147;including&#148; are used in this Agreement, they shall be deemed to be followed by the words &#147;without limitation&#148;, whether or not they are in fact followed by those words or words of like import.&#160; &#147;Writing&#148;, &#147;written&#148; and comparable terms refer to printing, typing and other means of reproducing words (including electronic media) in a visible form.&#160; References to any statute shall be deemed to refer to such statute as amended from time to time and to any rules&nbsp;or regulations promulgated thereunder.&#160; References to any agreement or contract are to that agreement or contract as amended, modified or supplemented from time to time in accordance with the terms hereof and thereof.&#160; References to any Person include the successors and permitted assigns of that Person.&#160; References from or through any date mean, unless otherwise specified, from and including or through and including, respectively.&#160; References to &#147;law&#148;, &#147;laws&#148; or to a particular statute or law shall be deemed also to include any Applicable Law.&#160; As used in this Agreement, all references to &#147;majority in interest&#148; and phrases of similar import shall be deemed to refer to such percentage or fraction of interest based on the Relative Percentage Interests of the Members subject to such determination.&#160; Unless otherwise expressly provided herein, when any approval, consent or other matter requires any action or approval of any group of Members, including any holders of any class of Units, such approval, consent or other matter shall require the approval of a majority in interest of such group of Members.&#160; Except to the extent otherwise expressly provided herein, all references to any Member shall be deemed to refer solely to such Person in its capacity as such Member and not in any other capacity.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;II</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">THE COMPANY</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Formation</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Company was formed upon the filing of the certificate of formation of the Company with the Secretary of State of the State of Delaware on April&nbsp;8, 2011, as amended on July&nbsp;8, 2011.&#160; The authorized officer or representative, as an &#147;authorized person&#148; within the meaning of the Delaware Act, shall file and record any amendments and/or restatements to the certificate of formation of the Company and such other certificates and documents (and any amendments or restatements thereof) as may be required under the laws of the State of Delaware and of any other jurisdiction in which the Company may conduct business.&#160; The authorized officer or representative shall, on request, provide any Member with copies of each such document as filed and recorded.&#160; The Members hereby agree that the Company and its Subsidiaries shall be governed by the terms and conditions of this Agreement and, except as provided herein, the Delaware Act.</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20<a name="26867-3-NL-05_PB_20_153149_2897"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=24,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=195902,FOLIO='20',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-05_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:01 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Name</font></u><font size="2" style="font-size:10.0pt;">.&#160; The name of the Company shall be Virtu Financial&nbsp;LLC; <u>provided</u> that the Managing Member may change the name of the Company to such other name as the Managing Member shall determine in its sole discretion, and shall have the authority to execute, acknowledge, deliver, file and record such further certificates, amendments, instruments and documents, and to do all such other acts and things, as may be required by Applicable Law or as, in the reasonable judgment of the Managing Member, may be necessary or advisable to effect such change.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Term</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Company shall have perpetual existence unless sooner dissolved and its affairs wound up as provided in Article&nbsp;XI.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.04</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Registered Agent and Registered Office</font></u><font size="2" style="font-size:10.0pt;">.&#160; The name of the registered agent of the Company for service of process on the Company in the State of Delaware shall be The Corporation Trust Company, and the address of such registered agent and the address of the registered office of the Company in the State of Delaware shall be Corporation Trust Center, 1209 Orange Street, Wilmington, New Castle County, Delaware 19801.&#160; Such office and such agent may be changed to such place within the State of Delaware and any successor registered agent, respectively, as may be determined from time to time by the Managing Member in accordance with the Delaware Act.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.05</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Purposes</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Company has been formed for the object and purpose of, and the nature of the business to be conducted and promoted by the Company is to engage in the Business and to carry on any other lawful act or activities for which limited liability companies may be organized under the Delaware Act.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.06</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Powers of the Company</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Company shall have the power and authority to take any and all actions necessary, appropriate or advisable to or for the furtherance of the purposes set forth in Section&nbsp;2.05.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.07</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Partnership Tax Status</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Members intend that the Company shall be treated as a partnership for federal, state and local income tax purposes to the extent such treatment is available, and agree to take (or refrain from taking) such actions as may be necessary to receive and maintain such treatment and refrain from taking any actions inconsistent thereof.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.08</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Regulation of Internal Affairs</font></u><font size="2" style="font-size:10.0pt;">.&#160; The internal affairs of the Company and the conduct of its business shall be regulated by this Agreement, and to the extent not provided for herein, shall be determined by the Managing Member.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.09</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Ownership of Property</font></u><font size="2" style="font-size:10.0pt;">.&#160; Legal title to all Property, conveyed to, or held by the Company or its Subsidiaries shall reside in the Company or its Subsidiaries and shall be conveyed only in the name of the Company or its Subsidiaries and no Member or any other Person, individually, shall have any ownership of such Property.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.10</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Subsidiaries</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Company shall cause the business and affairs of each of the Subsidiaries to be managed by the Managing Member in accordance with and in a manner consistent with this Agreement.</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21<a name="26867-3-NL-05_PB_21_153201_3020"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=25,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=803770,FOLIO='21',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-05_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:01 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;III</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">UNITS; MEMBERS; BOOKS AND RECORDS; REPORTS</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Units; Admission of Members</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Effective upon the Reorganization, pursuant to Section&nbsp;2.1(b)(vi)&nbsp;of the Reorganization Agreement, (i)&nbsp;Pubco has been admitted to the Company as the Managing Member and (ii)&nbsp;the Company has hereby reclassified all Class&nbsp;A-1 Interests, Class&nbsp;A-2 Capital Interests, Class&nbsp;A-2 Profits Interests and Class&nbsp;B Interests outstanding as of immediately prior to the Form&nbsp;8-A Effective Time into the number of Common Units, in the aggregate, set forth on <u>Schedule C</u> and each such Class&nbsp;A-1 Interest, Class&nbsp;A-2 Capital Interest, Class&nbsp;A-2 Profits Interest and Class&nbsp;B Interest has been hereby reclassified into a number of Common Units (rounded up or down to the nearest whole number) having a value equal to the amount that would have been distributed in respect thereof pursuant to Article&nbsp;XI of the Second A&amp;R LLC Agreement had the Company been liquidated on the date of the Form&nbsp;8-A Effective Time and gross proceeds from such liquidation been distributed to the Members as of immediately prior to the Form&nbsp;8-A Effective Time pursuant to Article&nbsp;XI of the Second A&amp;R LLC Agreement in an aggregate amount equal to the total equity value of all Class&nbsp;A-1 Interests, Class&nbsp;A-2 Capital Interests, Class&nbsp;A-2 Profits Interests and Class&nbsp;B Interests immediately prior to the Reorganization that is implied by the public offering price per share of Class&nbsp;A Common Stock in the IPO (with respect to each Class&nbsp;A-1 Interest, Class&nbsp;A-2 Capital Interest, Class&nbsp;A-2 Profits Interest or Class&nbsp;B Interest, its &#147;<u>Hypothetical Liquidation Value</u>&#148;).&#160; In connection with such reclassification, Common Units reclassified from Class&nbsp;A-2 Profits Interests or Class&nbsp;B Interests that were subject to vesting restrictions immediately prior to the Reorganization have been hereby reclassified as Unvested Common Units on terms set forth in the Employee Equity Letters and the MIP.&#160; After giving effect to the reclassification described in clause (ii)&nbsp;above, each of the Persons listed on the Member Schedule delivered to the SL Equityholders, the Temasek Equityholders and TJMT Holdings concurrently with the execution of this Agreement (the &#147;<u>Member Schedule</u>&#148;) owns the number of Common Units set forth opposite such Member&#146;s name on the Member Schedule.&#160; As soon as reasonably practicable following the execution of this Agreement, the Company shall provide written notice to each Member setting forth the Hypothetical Liquidation Value attributable to the Class&nbsp;A-1 Interests, Class&nbsp;A-2 Capital Interests, Class&nbsp;A-2 Profits Interests and/or Class&nbsp;B Interests previously held thereby and the resulting number of Common Units then owned thereby.&#160; The Member Schedule&nbsp;shall be maintained by the Managing Member on behalf of the Company in accordance with this Agreement and, upon any subsequent update to the Member Schedule, the Managing Member shall promptly deliver a copy of such updated Member Schedule&nbsp;to the SL Equityholders, the Temasek Equityholders and the Viola Members.&#160; When any Units or other Equity Securities of the Company are issued, repurchased, redeemed, converted or Transferred in accordance with this Agreement, the Member Schedule&nbsp;shall be amended by the Managing Member to reflect such issuance, repurchase, redemption or Transfer, the admission of additional or substitute Members and the resulting Percentage Interest of</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22<a name="26867-3-NL-05_PB_22_153236_7748"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=26,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=468562,FOLIO='22',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-05_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:01 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">each Member.&#160; Following the date hereof, no Person shall be admitted as a Member and no additional Units shall be issued except as expressly provided herein.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Managing Member may cause the Company to authorize and issue from time to time such other Units or other Equity Securities of any type, class or series and having the designations, preferences and/or special rights as may be determined the Managing Member.&#160; Such Units or other Equity Securities may be issued pursuant to such agreements as the Managing Member shall approve, including pursuant to the MIP, with respect to Persons employed by or otherwise performing services for the Company or any of its Subsidiaries, other equity compensation agreements, options or warrants.&#160; When any such other Units or other Equity Securities are authorized and issued, the Member Schedule&nbsp;and this Agreement shall be amended by the Managing Member to reflect such additional issuances and resulting dilution, which shall be borne pro rata by all Members based on their Common Units.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Unvested Common Units shall be subject to the terms of the MIP and any applicable Employee Equity Letters, and the Managing Member shall have sole and absolute discretion to interpret and administer the MIP and Employee Equity Letters and to adopt such amendments thereto or otherwise determine the terms and conditions of such Unvested Common Units in accordance with this Agreement and the applicable Employee Equity Letters.&#160; Distributions shall not be made in respect of Unvested Common Units (other than Participating Unvested Common Units).&#160; Unvested Common Units that fail to vest and are forfeited by the applicable Unvested Member shall be cancelled by the Company (and the corresponding shares of Class&nbsp;C Common Stock constituting the remainder of any Paired Interests in which such Unvested Common Units were included shall be cancelled by Pubco, in each case for no consideration) and shall not be entitled to any distributions pursuant to Section&nbsp;5.03.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Substitute Members and Additional Members</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">No Transferee of any Units or Person to whom any Units are issued pursuant to this Agreement shall be admitted as a Member hereunder or acquire any rights hereunder, including any class voting rights or the right to receive distributions and allocations in respect of the Transferred or issued Units, as applicable, unless (i)&nbsp;such Units are Transferred or issued in compliance with the provisions of this Agreement (including Article&nbsp;VIII) and (ii)&nbsp;such Transferee or recipient shall have executed and delivered to the Company such instruments as the Managing Member deems necessary or desirable, in its reasonable discretion, to effectuate the admission of such Transferee or recipient as a Member and to confirm the agreement of such Transferee or recipient to be bound by all the terms and provisions of this Agreement.&#160; Upon complying with the immediately preceding sentence, without the need for any further action of any Person, a Transferee or recipient shall be deemed admitted to the Company as a Member.&#160; A Substitute Member shall enjoy the same rights, and be subject to the same obligations, as the Transferor; <u>provided</u> that such Transferor shall not be relieved of any obligation or liability hereunder arising prior to the consummation of such Transfer but shall be relieved of all future obligations with respect to the Units so Transferred.&#160; As promptly as practicable after the admission of any Person as a Member,</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23<a name="26867-3-NL-05_PB_23_153318_141"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=27,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=537499,FOLIO='23',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-05_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:01 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the books and records of the Company shall be changed to reflect such admission of a Substitute Member or Additional Member.&#160; In the event of any admission of a Substitute Member or Additional Member pursuant to this Section&nbsp;3.02(a), this Agreement shall be deemed amended to reflect such admission, and any formal amendment of this Agreement (including the Member Schedule) in connection therewith shall only require execution by the Company and such Substitute Member or Additional Member, as applicable, to be effective.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">If a Member shall Transfer all (but not less than all) its Units, the Member shall thereupon cease to be a Member of the Company.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Tax and Accounting Information</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Accounting Decisions and Reliance on Others</font></u><font size="2" style="font-size:10.0pt;">.&#160; All decisions as to accounting matters, except as otherwise specifically set forth herein, shall be made by the Managing Member in accordance with Applicable Law and with accounting methods followed for federal income tax purposes.&#160; In making such decisions, the Managing Member may rely upon the advice of the independent accountants of the Company.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Records and Accounting Maintained</font></u><font size="2" style="font-size:10.0pt;">.&#160; The books and records of the Company shall be kept, and the financial position and the results of its operations recorded, in all material respects in accordance with United States generally accepted accounting principles as in effect from time to time (&#147;<u>GAAP</u>&#148;).&#160; The Fiscal Year of the Company shall be used for financial reporting and for federal income tax purposes.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Financial Reports</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The books and records of the Company shall be audited as of the end of each Fiscal Year by the same accounting firm that audits the books and records of Pubco (or, if such firm declines to perform such audit, by an accounting firm selected by the Managing Member).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">In the event neither Pubco nor the Company is required to file an annual report on Form&nbsp;10-K or quarterly report on Form&nbsp;10-Q, the Company shall deliver, or cause to be delivered, the following to the SL Equityholders, the Temasek Equityholders and to the Viola Members, in each case so long as it meets the Ownership Minimum:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(A)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">not later than ninety (90) days after the end of each fiscal year of the Company, a copy of the audited consolidated balance sheet of the Company and its Subsidiaries as of the end of such fiscal year and the related statements of operations and cash flows for such fiscal year, setting forth in each case in comparative form the figures for the previous year, all in reasonable detail; and</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(B)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">not later than forty five (45) days or such later time as permitted under applicable securities law after the end of each of the</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24<a name="26867-3-NL-05_PB_24_153402_7608"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=28,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=874268,FOLIO='24',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-05_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:01 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">first three fiscal quarters of each fiscal year, the unaudited consolidated balance sheet of the Company and its Subsidiaries, and the related statements of operations and cash flows for such quarter and for the period commencing on the first day of the fiscal year and ending on the last day of such quarter.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Tax Returns</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company shall timely cause to be prepared by an accounting firm selected by the Managing Member all federal, state, local and foreign tax returns (including information returns) of the Company and its Subsidiaries, which may be required by a jurisdiction in which the Company and its Subsidiaries operate or conduct business for each year or period for which such returns are required to be filed and shall cause such returns to be timely filed.&#160; Upon request of any SL Equityholder, Temasek Equityholder or any other Member, the Company shall furnish to such Member or Equityholder a copy of each such tax return;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company shall furnish to each Member (a)&nbsp;as soon as reasonably practical after the end of each Fiscal Year and in any event by April&nbsp;30, all information concerning the Company and its Subsidiaries required for the preparation of tax returns of such Members (or any beneficial owner(s)&nbsp;of such Member), including a report (including Schedule&nbsp;K-1), indicating each Member&#146;s share of the Company&#146;s taxable income, gain, credits, losses and deductions for such year, in sufficient detail to enable such Member to prepare its federal, state and other tax returns; <u>provided</u> that estimates of such information believed by the Managing Member in good faith to be reasonable shall be provided by March&nbsp;10, (b)&nbsp;as soon as reasonably possible after the close of the relevant fiscal period, but in no event later than ten days prior to the date an estimated tax payment is due, such information concerning the Company as is required to enable such Member (or any beneficial owner of such Member) to pay estimated taxes and (c)&nbsp;as soon as reasonably possible after a request by such Member, such other information concerning the Company and its Subsidiaries that is reasonably requested by such Member for compliance with its tax obligations (or the tax obligations of any beneficial owner(s)&nbsp;of such Member) or for tax planning purposes; and</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">So long as it meets the Ownership Minimum, the SL Equityholders, the Temasek Equityholders and the Viola Members shall be entitled to review and comment on any tax returns or reports to be prepared pursuant to this Section&nbsp;3.03(d)&nbsp;at least 60 days prior to the due date for the applicable tax return or report (including extensions).&#160; The SL Equityholders, the Temasek Equityholders and the Viola Members shall notify the Company no later than 30 days after receipt of a tax return or report of any changes recommended thereby to such return or report.&#160; The Company shall consider in good faith all reasonable comments of the SL Equityholders, the Temasek Equityholders and the Viola Members to such tax returns or reports.&#160; If the Company does not accept any such comment, the Company shall notify the SL Equityholders, the Temasek Equityholders or the Viola Members, as applicable, of that fact.&#160; If within five (5)&nbsp;days of such notification, the SL Equityholders, the Temasek Equityholders or the Viola Members, as the case may be, request in writing a review of a rejected comment, the Company shall cause its regular tax advisors to review the comment and consult with</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">25<a name="26867-3-NL-05_PB_25_153441_8146"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=29,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=1036601,FOLIO='25',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-05_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:01 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the SL Equityholders, the Temasek Equityholders or the Viola Members, as the case may be.&#160; The determination of the tax advisors following such review and consultation shall definitively determine the position taken on the Company&#146;s tax return or report.&#160; For the avoidance of doubt, each of SL and Temasek shall have the same rights with respect to reviewing and commenting on any tax returns or reports prepared pursuant to Section&nbsp;3.03(d)&nbsp;of the Second A&amp;R LLC Agreement for taxable periods prior to the date hereof, notwithstanding whether SL or Temasek, as applicable, is a then-current Member.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Inconsistent Positions</font></u><font size="2" style="font-size:10.0pt;">.&#160; No Member shall take a position on its income tax return with respect to any item of Company income, gain, deduction, loss or credit that is different from the position taken on the Company&#146;s income tax return with respect to such item unless such Member notifies the Company of the different position the Member desires to take and the Company&#146;s regular tax advisors, after consulting with the Member, are unable to provide an opinion that (after taking into account all of the relevant facts and circumstances) the arguments in favor of the Company&#146;s position outweigh the arguments in favor of the Member&#146;s position.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.04</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Books and Records</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Company shall keep full and accurate books of account and other records of the Company at its principal place of business.&#160; No Equityholder (other than the Managing Member and, in each case so long as it meets the Ownership Minimum, the SL Equityholders, the Temasek Equityholders and the Viola Members) shall have any right to inspect the books and records of Pubco, the Company or any of its Subsidiaries; <u>provided</u> that, in the case of the SL Equityholders, the Temasek Equityholders and the Viola Members, (i)&nbsp;such inspection shall be at reasonable times and upon reasonable prior notice to the Company, but not more frequently than once per calendar quarter and (ii)&nbsp;neither Pubco, the Company nor any of its Subsidiaries shall be required to disclose (x)&nbsp;any source code or detailed trading algorithms or any similar information the Managing Member determines to be competitively sensitive or (y)&nbsp;any privileged information of Pubco, the Company or any of its Subsidiaries so long as the Company has used commercially reasonable efforts to enter into an arrangement pursuant to which it may provide such information to the SL Equityholders, the Temasek Equityholders or the Viola Members, as the case may be, without the loss of any such privilege.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;IV</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">PUBCO OWNERSHIP; RESTRICTIONS ON PUBCO STOCK</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;4.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Pubco Ownership</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">If at any time Pubco issues a share of Class&nbsp;A Common Stock or Class&nbsp;B Common Stock or any other Equity Security of Pubco entitled to any economic rights (including in the IPO) (an &#147;<u>Economic Pubco Security</u>&#148;) with regard thereto (other than Class&nbsp;C Common Stock, Class&nbsp;D Common Stock or other Equity Security of Pubco not entitled to any economic rights with respect thereto), (i)&nbsp;the Company shall issue to Pubco one Common Unit (if Pubco issues a share of Class&nbsp;A Common Stock or Class&nbsp;B Common Stock) or such other Equity Security of the</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26<a name="26867-3-NL-05_PB_26_153458_7091"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=30,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=184826,FOLIO='26',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-05_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:01 2015' -->

<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Company (if Pubco issues an Economic Pubco Security other than Class&nbsp;A Common Stock or Class&nbsp;B Common Stock) corresponding to the Economic Pubco Security, and with substantially the same rights to dividends and distributions (including distributions upon liquidation) and other economic rights as those of such Economic Pubco Security and (ii)&nbsp;the net proceeds received by Pubco with respect to the corresponding Economic Pubco Security, if any, shall be concurrently contributed to the Company; <u>provided</u>, <u>however</u>, that if Pubco issues any Economic Pubco Securities, some or all of the net proceeds of which are to be used to fund expenses or other obligations of Pubco for which Pubco would be permitted a distribution pursuant to Section&nbsp;5.03(c), then Pubco shall not be required to transfer such net proceeds to the Company which are used or will be used to fund such expenses or obligations, and <u>provided</u>, <u>further</u>, that if Pubco issues any shares of Class&nbsp;A Common Stock or Class&nbsp;B Common Stock in order to purchase or fund the purchase from a Non-Pubco Member of a number of Common Units (and shares of Class&nbsp;C Common Stock and/or Class&nbsp;D Common Stock, as applicable) or to purchase or fund the purchase of shares of Class&nbsp;A Common Stock or Class&nbsp;B Common Stock, in each case equal to the number of shares of Class&nbsp;A Common Stock or Class&nbsp;B Common Stock issued, then the Company shall not issue any new Common Units in connection therewith and Pubco shall not be required to transfer such net proceeds to the Company (it being understood that such net proceeds shall instead be transferred to such Non-Pubco Member as consideration for such purchase).</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Notwithstanding Section&nbsp;4.01(a), this Article&nbsp;IV shall not apply (i)&nbsp;to the issuance and distribution to holders of shares of Pubco Common Stock of rights to purchase Equity Securities of Pubco under a &#147;poison pill&#148; or similar shareholders rights plan (it being understood that upon exchange of Paired Interests for Class&nbsp;A Common Stock or Class&nbsp;B Common Stock, as the case may be, pursuant to the Exchange Agreement, such Class&nbsp;A Common Stock or Class&nbsp;B Common Stock, as the case may be, will be issued together with a corresponding right) or (ii)&nbsp;to the issuance under the Pubco Equity Plan or Pubco&#146;s other employee benefit plans of any warrants, options or other rights to acquire Equity Securities of Pubco or rights or property that may be converted into or settled in Equity Securities of Pubco, but shall in each of the foregoing cases apply to the issuance of Equity Securities of Pubco in connection with the exercise or settlement of such rights, warrants, options or other rights or property.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;4.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Restrictions on Pubco Common Stock</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Except as otherwise determined by the Managing Member in accordance with Section&nbsp;4.02(d), (i)&nbsp;the Company may not issue any additional Common Units to Pubco or any of its Subsidiaries unless substantially simultaneously therewith Pubco or such Subsidiary issues or sells an equal number of shares of Class&nbsp;A Common Stock or Class&nbsp;B Common Stock to another Person and (ii)&nbsp;the Company may not issue any other Equity Securities of the Company to Pubco or any of its Subsidiaries unless substantially simultaneously, Pubco or such Subsidiary issues or sells, to another Person, an equal number of shares of a new class or series of Equity Securities of Pubco or such Subsidiary with substantially the same rights to dividends and distributions (including distributions upon liquidation) and other economic rights as those of such Equity Securities of the Company.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">27<a name="26867-3-NL-07_PB_27_153601_455"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=31,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=858398,FOLIO='27',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-07_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:34 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Except as otherwise determined by the Managing Member in accordance with Section&nbsp;4.02(d), (i)&nbsp;Pubco or any of its Subsidiaries may not redeem, repurchase or otherwise acquire any shares of Class&nbsp;A Common Stock or Class&nbsp;B Common Stock (including upon forfeiture of any Unvested Common Units or the acquisition of any such shares deposited in escrow) unless substantially simultaneously the Company redeems, repurchases or otherwise acquires from Pubco an equal number of Units for the same price per security (or, if Pubco uses funds received from distributions from the Company or the net proceeds from an issuance of Class&nbsp;A Common Stock or Class&nbsp;B Common Stock to fund such redemption, repurchase or acquisition, then the Company shall cancel an equal number of Units for no consideration) and (ii)&nbsp;Pubco or any of its Subsidiaries may not redeem or repurchase any other Equity Securities of Pubco unless substantially simultaneously, the Company redeems or repurchases from Pubco an equal number of Equity Securities of the Company of a corresponding class or series with substantially the same rights to dividends and distributions (including distributions upon liquidation) or other economic rights as those of such Equity Securities of Pubco for the same price per security (or, if Pubco uses funds received from distributions from the Company or the net proceeds from an issuance of Equity Securities other than Class&nbsp;A Common Stock or Class&nbsp;B Common Stock to fund such redemption, repurchase or acquisition, then the Company shall cancel an equal number of its corresponding Equity Securities for no consideration).&#160; Except as otherwise determined by the Managing Member in accordance with Section&nbsp;4.02(d): (x)&nbsp;the Company may not redeem, repurchase or otherwise acquire Common Units from Pubco or any of its Subsidiaries unless substantially simultaneously Pubco or such Subsidiary redeems, repurchases or otherwise acquires an equal number of Class&nbsp;A Common Stock or Class&nbsp;B Common Stock for the same price per security from holders thereof (except that if the Company cancels Common Units for no consideration as described in Section&nbsp;4.02(b)(i), then the price per security need not be the same) and (y)&nbsp;the Company may not redeem, repurchase or otherwise acquire any other Equity Securities of the Company from Pubco or any of its Subsidiaries unless substantially simultaneously Pubco or such Subsidiary redeems, repurchases or otherwise acquires for the same price per security an equal number of Equity Securities of Pubco of a corresponding class or series with substantially the same rights to dividends and distributions (including dividends and distributions upon liquidation) and other economic rights as those of such Equity Securities of Pubco (except that if the Company cancels Equity Securities for no consideration as described in Section&nbsp;4.02(b)(ii), then the price per security need not be the same).&#160; Notwithstanding the immediately preceding sentence, to the extent that any consideration payable to Pubco in connection with the redemption or repurchase of any shares or other Equity Securities of Pubco or any of its Subsidiaries consists (in whole or in part) of shares or such other Equity Securities (including, for the avoidance of doubt, in connection with the cashless exercise of an option or warrant), then redemption or repurchase of the corresponding Common Units or other Equity Securities of the Company shall be effectuated in an equivalent manner (except if the Company cancels Common Units or other Equity Securities for no consideration as described in this Section&nbsp;4.02(b)).</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company shall not in any manner effect any subdivision (by any stock or unit split, stock or unit dividend or distribution, reclassification, reorganization, recapitalization or otherwise) or combination (by reverse</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">28<a name="26867-3-NL-07_PB_28_153629_4141"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=32,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=605584,FOLIO='28',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-07_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:34 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">stock or unit split, reclassification, reorganization, recapitalization or otherwise) of the outstanding Common Units unless accompanied by a substantively identical subdivision or combination, as applicable, of the outstanding Pubco Common Stock, with corresponding changes made with respect to any other exchangeable or convertible securities.&#160; Pubco shall not in any manner effect any subdivision (by any stock or unit split, stock or unit dividend or distribution, reclassification, reorganization, recapitalization or otherwise) or combination (by reverse stock or unit split, reclassification, reorganization, recapitalization or otherwise) of the outstanding Pubco Common Stock unless accompanied by a substantively identical subdivision or combination, as applicable, of the outstanding Common Units, with corresponding changes made with respect to any other exchangeable or convertible securities.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Notwithstanding anything to the contrary in this Article&nbsp;IV:</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">if at any time the Managing Member shall determine that the Credit Agreement or any other debt instrument of Pubco, the Company or its Subsidiaries shall not permit Pubco or the Company to comply with the provisions of Section&nbsp;4.02(a)&nbsp;or Section&nbsp;4.02(b)&nbsp;in connection with the issuance, redemption or repurchase of any shares of Class&nbsp;A Common Stock or Class&nbsp;B Common Stock or other Equity Securities of Pubco or any of its Subsidiaries or any Units or other Equity Securities of the Company, then the Managing Member may in good faith implement an economically equivalent alternative arrangement without complying with such provisions; <u>provided</u> that, in the case that any such alternative arrangement is implemented because of restrictions in any debt instrument other than the Credit Agreement, such arrangement shall also be subject to the prior written consent (not to be unreasonably withheld) of the Viola Members and the SL Equityholders, in each case so long as it meets the Limited Ownership Minimum; and</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">if (x)&nbsp;Pubco incurs any indebtedness and desires to transfer the proceeds of such indebtedness to the Company and (y)&nbsp;Pubco is unable to lend the proceeds of such indebtedness to the Company on an equivalent basis because of restrictions in the Credit Agreement or any other debt instrument of Pubco, the Company or its Subsidiaries, then notwithstanding Section&nbsp;4.02(a)&nbsp;or Section&nbsp;4.02(b), the Managing Member may in good faith implement an economically equivalent alternative arrangement in connection with the transfer of proceeds to the Company using non-participating preferred Equity Securities of the Company without complying with such provisions; <u>provided</u> that, in the case that any such alternative arrangement is implemented because of restrictions in any debt instrument other than the Credit Agreement, such arrangement shall also be subject to the prior written consent (not to be unreasonably withheld) of the Viola Members and the SL Equityholders, in each case so long as it meets the Limited Ownership Minimum.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">29<a name="26867-3-NL-07_PB_29_153642_8627"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=33,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=248737,FOLIO='29',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-07_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:34 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;V</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CAPITAL CONTRIBUTIONS; CAPITAL ACCOUNTS;<br> DISTRIBUTIONS; ALLOCATIONS</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Capital Contributions</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">From and after the date hereof, no Member shall have any obligation to the Company, to any other Member or to any creditor of the Company to make any further Capital Contribution, except as expressly provided in Section&nbsp;18.02(c)(iii)&nbsp;of the MTH Transaction Agreement or Section&nbsp;4.01(a).</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">RESERVED.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Except as expressly provided herein, no Member, in its capacity as a Member, shall have the right to receive any cash or any other property of the Company.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Capital Accounts</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Maintenance of Capital Accounts</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Company shall maintain a Capital Account for each Member on the books of the Company in accordance with the provisions of Treasury Regulations Section&nbsp;1.704-1(b)(2)(iv)&nbsp;and, to the extent consistent with such provisions, the following provisions:</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Each Member listed on the Member Schedule&nbsp;shall be credited with the Reorganization Date Capital Account Balance set forth on the Member Schedule.&#160; The Member Schedule&nbsp;shall be amended by the Managing Member after the closing of the IPO and from time to time to reflect adjustments to the Members&#146; Capital Accounts made in accordance with Sections&nbsp;5.02(a)(ii), 5.02(a)(iii), 5.02(a)(iv), 5.02(c)&nbsp;or otherwise.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">To each Member&#146;s Capital Account there shall be credited:&#160; (A)&nbsp;such Member&#146;s Capital Contributions, (B)&nbsp;such Member&#146;s distributive share of Net Income and any item in the nature of income or gain that is allocated pursuant to Section&nbsp;5.04 and (C)&nbsp;the amount of any Company liabilities assumed by such Member or that are secured by any Property distributed to such Member.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">To each Member&#146;s Capital Account there shall be debited: (A)&nbsp;the amount of money and the Carrying Value of any Property distributed to such Member pursuant to any provision of this Agreement, (B)&nbsp;such Member&#146;s distributive share of Net Loss and any items in the nature of expenses or losses that are allocated to such Member pursuant to Section&nbsp;5.04 and (C)&nbsp;the amount of any liabilities of such Member assumed by the Company or that are secured by any Property contributed by such Member to the Company.</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">30<a name="26867-3-NL-07_PB_30_153655_7906"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=34,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=921943,FOLIO='30',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-07_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:34 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">In determining the amount of any liability for purposes of subparagraphs (ii)&nbsp;and (iii)&nbsp;above there shall be taken into account Section&nbsp;752(c)&nbsp;of the Code and any other applicable provisions of the Code and the Treasury Regulations.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The foregoing provisions and the other provisions of this Agreement relating to the maintenance of Capital Accounts are intended to comply with Treasury Regulations Section&nbsp;1.704-1(b)&nbsp;and shall be interpreted and applied in a manner consistent with such Treasury Regulations.&#160; In the event that the Managing Member shall reasonably determine that it is prudent to modify the manner in which the Capital Accounts or any debits or credits thereto are maintained (including debits or credits relating to liabilities that are secured by contributed or distributed Property or that are assumed by the Company or the Members), the Managing Member may make such modification so long as such modification will not have any effect on the amounts distributed to any Person pursuant to Article&nbsp;XI upon the dissolution of the Company.&#160; The Managing Member also shall (i)&nbsp;make any adjustments that are necessary or appropriate to maintain equality between Capital Accounts of the Members and the amount of capital reflected on the Company&#146;s balance sheet, as computed for book purposes, in accordance with Treasury Regulations Section&nbsp;1.704-1(b)(2)(iv)(g), and (ii)&nbsp;make any appropriate modifications in the event unanticipated events might otherwise cause this Agreement not to comply with Treasury Regulations Section&nbsp;1.704-1(b).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Succession to Capital Accounts</font></u><font size="2" style="font-size:10.0pt;">.&#160; In the event any Person becomes a Substitute Member in accordance with the provisions of this Agreement, such Substitute Member shall succeed to the Capital Account of the former Member (the &#147;<u>Transferor Member</u>&#148;) to the extent such Capital Account relates to the Transferred Units.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Adjustments of Capital Accounts</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Company shall revalue the Capital Accounts of the Members in accordance with Treasury Regulations Section&nbsp;1.704-1(b)(2)(iv)(f)&nbsp;(a &#147;<u>Revaluation</u>&#148;) at the following times:&#160; (i)&nbsp;immediately prior to the contribution of more than a <i>de minimis</i> amount of money or other property to the Company by a new or existing Member as consideration for one or more Units; (ii)&nbsp;the distribution by the Company to a Member of more than a <i>de minimis</i> amount of property in respect of one or more Units; (iii)&nbsp;the issuance by the Company of more than a <i>de minimis</i> amount of Units as consideration for the provision of services to or for the benefit of the Company (as described in Treasury Regulations Section&nbsp;1.704-1(b)(2)(iv)(f)(5)(iii)); and (iv)&nbsp;the liquidation of the Company within the meaning of Treasury Regulations Section&nbsp;1.704-1(b)(2)(ii)(g)&nbsp;(other than a liquidation pursuant to Section&nbsp;708(b)(1)(B)&nbsp;of the Code); <u>provided</u>, <u>however</u>, that adjustments pursuant to clauses&nbsp;(i), (ii)&nbsp;and (iii)&nbsp;above shall be made only if the Managing Member reasonably determines that such adjustments are necessary or appropriate to reflect the relative economic interest of the Members.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">No Member shall be entitled to withdraw capital or receive distributions except as specifically provided herein.&#160; A Member shall have no obligation to the Company, to any other Member or to any creditor of the Company to restore any</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">31<a name="26867-3-NL-07_PB_31_153732_3736"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=35,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=981555,FOLIO='31',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-07_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:34 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">negative balance in the Capital Account of such Member.&#160; Except as expressly provided elsewhere herein, no interest shall be paid on the balance in any Member&#146;s Capital Account.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Whenever it is necessary for purposes of this Agreement to determine a Member&#146;s Capital Account on a per Unit basis, such amount shall be determined by dividing the Capital Account of such Member attributable to the applicable class of Units held of record by such Member by the number of Units of such class held of record by such Member.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Amounts and Priority of Distributions</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Distributions Generally</font></u><font size="2" style="font-size:10.0pt;">.&#160; Except as otherwise provided in Section&nbsp;11.02, distributions shall be made to the Members as set forth in this Section&nbsp;5.03, at such times and in such amounts as the Managing Member, in its sole discretion, shall determine.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Distributions to the Members</font></u><font size="2" style="font-size:10.0pt;">.&#160; Subject to Sections&nbsp;5.03(e), and 5.03(f), at such times and in such amounts as the Managing Member, in its sole discretion, shall determine, distributions shall be made to the Members to the Members in proportion to their respective Percentage Interests.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Pubco Distributions</font></u><font size="2" style="font-size:10.0pt;">. &#160;Notwithstanding the provisions of Section&nbsp;5.03(b), the Managing Member, in its sole discretion, may authorize that (i)&nbsp;cash be paid to Pubco (which payment shall be made without pro rata distributions to the other Members) in exchange for the redemption, repurchase or other acquisition of Units held by Pubco to the extent that such cash payment is used to redeem, repurchase or otherwise acquire an equal number of shares of Class&nbsp;A Common Stock or Class&nbsp;B Common Stock in accordance with Section&nbsp;4.02(b), and (ii)&nbsp;to the extent that the Managing Member determines that expenses or other obligations of Pubco are related to its role as the Managing Member or the business and affairs of Pubco that are conducted through the Company or any of the Company&#146;s direct or indirect Subsidiaries, cash (and, for the avoidance of doubt, only cash) distributions may be made to Pubco (which distributions shall be made without pro rata distributions to the other Members) in amounts required for Pubco to pay (w)&nbsp;operating, administrative and other similar costs incurred by Pubco, including payments in respect of Indebtedness and preferred stock, to the extent the proceeds are used or will be used by Pubco to pay expenses or other obligations described in this clause (ii)&nbsp;(in either case only to the extent economically equivalent Indebtedness or Equity Securities of the Company were not issued to Pubco), payments representing interest with respect to payments not made when due under the terms of the Tax Receivable Agreements and payments pursuant to any legal, tax, accounting and other professional fees and expenses (but, for the avoidance of doubt, excluding any tax liabilities of Pubco), (x)&nbsp;any judgments, settlements, penalties, fines or other costs and expenses in respect of any claims against, or any litigation or proceedings involving, Pubco, (y)&nbsp;fees and expenses (including any underwriters discounts and commissions) related to any securities offering, investment or acquisition transaction (whether or not successful) authorized by the board of directors of Pubco and (z)&nbsp;other fees and expenses</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">32<a name="26867-3-NL-07_PB_32_153804_9621"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=36,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=588366,FOLIO='32',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-07_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:34 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">in connection with the maintenance of the existence of Pubco (including any costs or expenses associated with being a public company listed on a national securities exchange).&#160; For the avoidance of doubt, distributions made under this Section&nbsp;5.03(c)&nbsp;may not be used to pay or facilitate dividends or distributions on the Pubco Common Stock and must be used solely for one of the express purposes set forth under clause (i)&nbsp;or (ii)&nbsp;of the immediately preceding sentence.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Distributions in Kind</font></u><font size="2" style="font-size:10.0pt;">.&#160; Any distributions in kind shall be made at such times and in such amounts as the Managing Member, in its sole discretion, shall determine based on their fair market value as determined by the Managing Member in the same proportions as if distributed in accordance with Section&nbsp;5.03(b), with all Members participating in proportion to their respective Percentage Interests.&#160; If cash and property are to be distributed in kind simultaneously, the Company shall distribute such cash and property in kind in the same proportion to each Member.&#160; For the purposes of this Section&nbsp;5.03(d), if any such distribution in kind includes securities, distributions to the Members shall be deemed proportionate notwithstanding that the holders of Common Units that are included in Paired Interests with shares of Class&nbsp;D Common Stock receive securities that have no more than ten times the voting power of securities distributed to the holder of Common Units that are included in Paired Interests with shares of Class&nbsp;C Common Stock, so long as such securities issued to the holders of Common Units that are included in Paired Interests with shares of Class&nbsp;D Common stock remain subject to automatic conversion on terms no more favorable to such holders than those set forth in Section&nbsp;6.2 of the certificate of incorporation of Pubco.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Tax Distributions</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Notwithstanding any other provision of this Section&nbsp;5.03 to the contrary, to the extent permitted by Applicable Law and consistent with the Company&#146;s obligations to its creditors as reasonably determined by the Managing Member, the Company shall make cash distributions by wire transfer of immediately available funds pursuant to this Section&nbsp;5.03(e)(i)&nbsp;to each Member with respect to its Units at least two (2)&nbsp;Business Days prior to the date on which any U.S. federal corporate estimated tax payments are due, in an amount equal to such Member&#146;s Tax Distribution Amount, if any; <u>provided</u> that the Managing Member shall have no liability to any Member in connection with any underpayment of estimated taxes, so long as cash distributions are made in accordance with this Section&nbsp;5.03(e)(i)&nbsp;and the Tax Distribution Amounts are determined as provided in paragraph (i)&nbsp;of the definition of Tax Distribution Amount.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">On any date that the Company makes a distribution to the Members with respect to their Units under a provision of Section&nbsp;5.03 other than this Section&nbsp;5.03(e), if the Tax Distribution Amount is greater than zero, the Company shall designate all or a portion of such distribution as a Tax Distribution with respect to a Member&#146;s Units to the extent of the Tax Distribution Amount with respect to such Member&#146;s Units as of such date (but not to exceed the amount of such distribution).&#160; For the avoidance of doubt, such designation shall be performed with respect to all Members with respect to which there is a Tax Distribution Amount as of such date.</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">33<a name="26867-3-NL-07_PB_33_153817_8715"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=37,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=223305,FOLIO='33',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-07_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:34 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Notwithstanding any other provision of this Section&nbsp;5.03 to the contrary, if the Tax Distribution Amount for such Fiscal Year is greater than zero, to the extent permitted by Applicable Law and consistent with the Company&#146;s obligations to its creditors as reasonably determined by the Managing Member, the Company shall make additional distributions under this Section&nbsp;5.03(e)(iii)&nbsp;to the extent of such Tax Distribution Amount for such Fiscal Year as soon as reasonably practicable after the end of such Fiscal Year (or as soon as reasonably practicable after any event that subsequently adjusts the taxable income of such Fiscal Year).</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Under no circumstances shall Tax Distributions reduce the amount otherwise distributable to any Member pursuant to this Section&nbsp;5.03 (other than this Section&nbsp;5.03(e)) after taking into account the effect of Tax Distributions on the amount of cash or other assets available for distribution by the Company.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Pre-IPO Profits Distribution</font></u><font size="2" style="font-size:10.0pt;">.&#160; Notwithstanding Section&nbsp;5.03(b), after the Reorganization, before any other distributions are distributed to the Members by the Company or any of its Subsidiaries, the Company shall, or shall cause its Subsidiaries to, distribute to the Class&nbsp;A Members (as such term was defined in the Second A&amp;R LLC Agreement) as of the record date prior to the date hereof previously established by the Company, in proportion to their respective Available Cash Flow Percentages (as such term was defined in the Second A&amp;R LLC Agreement) as of such record date, an aggregate amount of cash determined by the Managing Member up to an amount equal to (i)&nbsp;the Available Cash Flow attributable to the portion of the fiscal period beginning on January&nbsp;1, 2015 and ended on the date hereof <u>minus</u> (ii)&nbsp;the amount of Available Cash Flow, if any, attributable to such period and distributed to such Class&nbsp;A Members prior to the date hereof.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Reserved</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Reserved</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Assignment</font></u><font size="2" style="font-size:10.0pt;">.&#160; SL and its Affiliated Transferees shall have the right to assign to any Transferee of Common Units, pursuant to a Transfer made in compliance with this Agreement, the right to receive any portion of the amounts distributable or otherwise payable to SL pursuant to Section&nbsp;5.03(b).</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.04</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Allocations</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Net Income and Net Loss</font></u><font size="2" style="font-size:10.0pt;">.&#160; Except as otherwise provided in this Agreement, and after giving effect to the special allocations set forth in Section&nbsp;5.04(b), Section&nbsp;5.04(c)&nbsp;and Section&nbsp;5.04(d), Net Income and Net Loss (and, to the extent necessary, individual items of income, gain, loss, deduction or credit) of the Company shall be allocated among the Members in a manner such that the Capital Account of each Member, immediately after making such allocation, is, as nearly as possible, equal to (i)&nbsp;the distributions that would be made to such Member pursuant to Section&nbsp;5.03(b)&nbsp;if the Company were dissolved, its affairs wound up and its assets sold for cash equal to their Carrying Value, all Company liabilities were satisfied (limited with</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">34<a name="26867-3-NL-07_PB_34_153842_563"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=38,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=232046,FOLIO='34',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-07_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:34 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">respect to each nonrecourse liability to the Carrying Value of the assets securing such liability), and the net assets of the Company were distributed, in accordance with Section&nbsp;5.03(b), to the Members immediately after making such allocation, minus (ii)&nbsp;such Member&#146;s share of Company Minimum Gain and Member Nonrecourse Debt Minimum Gain, computed immediately prior to the hypothetical sale of assets.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Special Allocations</font></u><font size="2" style="font-size:10.0pt;">.&#160; The following special allocations shall be made in the following order:</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Minimum Gain Chargeback</font></u><font size="2" style="font-size:10.0pt;">.&#160; Except as otherwise provided in Treasury Regulations Section&nbsp;1.704-2(f), notwithstanding any other provision of this Article&nbsp;V, if there is a net decrease in Company Minimum Gain during any Fiscal Year, each Member shall be specially allocated items of Company income and gain for such Fiscal Year (and, if necessary, subsequent Fiscal Years) in an amount equal to such Member&#146;s share of the net decrease in Company Minimum Gain, determined in accordance with Treasury Regulations Section&nbsp;1.704-2(g).&#160; Allocations pursuant to the immediately preceding sentence shall be made in proportion to the respective amounts required to be allocated to each Member pursuant thereto.&#160; The items to be so allocated shall be determined in accordance with Treasury Regulations Section&nbsp;1.704-2(f)(6)&nbsp;and 1.704-2(j)(2).&#160; This Section&nbsp;5.04(b)(i)&nbsp;is intended to comply with the minimum gain chargeback requirement in Treasury Regulations Section&nbsp;1.704-2(f)&nbsp;and shall be interpreted consistently therewith.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Member Minimum Gain Chargeback</font></u><font size="2" style="font-size:10.0pt;">.&#160; Except as otherwise provided in Treasury Regulations Section&nbsp;1.704-2(i)(4), notwithstanding any other provision of this Article&nbsp;V, if there is a net decrease in Member Nonrecourse Debt Minimum Gain attributable to a Member Nonrecourse Debt during any Fiscal Year, each Member who has a share of the Member Nonrecourse Debt Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treasury Regulations Section&nbsp;1.704-2(i)(5), shall be specially allocated items of Company income and gain for such Fiscal Year (and, if necessary, subsequent Fiscal Years) in an amount equal to such Member&#146;s share of the net decrease in Member Nonrecourse Debt Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treasury Regulations Section&nbsp;1.704-2(i)(4).&#160; Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts required to be allocated to each Member pursuant thereto.&#160; The items to be so allocated shall be determined in accordance with Treasury Regulations Sections&nbsp;1.704-2(i)(4)&nbsp;and 1.704-2(j)(2).&#160; This Section&nbsp;5.04(b)(ii)&nbsp;is intended to comply with the minimum gain chargeback requirement in Treasury Regulations Section&nbsp;1.704-2(i)(4)&nbsp;and shall be interpreted consistently therewith.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Qualified Income Offset</font></u><font size="2" style="font-size:10.0pt;">.&#160; In the event any Member unexpectedly receives any adjustments, allocations, or distributions described in Treasury Regulations Sections&nbsp;1.704-1(b)(2)(ii)(d)(4), 1.704-1(b)(2)(ii)(d)(5)&nbsp;or Section&nbsp;1.704-1(b)(2)(ii)(d)(6), items of Company income and gain shall be specially allocated to such Member in an amount and manner sufficient to eliminate, to the extent required by the Treasury Regulations, the Adjusted Capital Account Deficit of the</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">35<a name="26867-3-NL-07_PB_35_153921_9497"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=39,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=797481,FOLIO='35',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-07_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:34 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Member as promptly as possible; <u>provided</u> that an allocation pursuant to this Section&nbsp;5.04(b)(iii)&nbsp;shall be made only if and to the extent that the Member would have an Adjusted Capital Account Deficit after all other allocations provided for in this Article&nbsp;V have been tentatively made as if this Section&nbsp;5.04(b)(iii)&nbsp;were not in the Agreement.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Nonrecourse Deductions</font></u><font size="2" style="font-size:10.0pt;">.&#160; Nonrecourse Deductions for any Fiscal Year shall be specially allocated to the Members in a manner determined by the Managing Member consistent with Treasury Regulations Sections&nbsp;1.704-2(b)&nbsp;and 1.704-2(c).</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Member Nonrecourse Deductions</font></u><font size="2" style="font-size:10.0pt;">.&#160; Any Member Nonrecourse Deductions for any Fiscal Year shall be specially allocated to the Member who bears the economic risk of loss with respect to the Member Nonrecourse Debt to which such Member Nonrecourse Deductions are attributable in accordance with Treasury Regulations Sections&nbsp;1.704-2(i)(1)&nbsp;and 1.704-2(j)(1).</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Section&nbsp;754 Adjustments</font></u><font size="2" style="font-size:10.0pt;">.&#160; (A)&nbsp;To the extent an adjustment to the adjusted tax basis of any Company asset pursuant to Sections&nbsp;734(b)&nbsp;or 743(b)&nbsp;of the Code is required pursuant to Treasury Regulations Section&nbsp;1.704-1(b)(2)(iv)(m)(4)&nbsp;to be taken into account in determining Capital Accounts as a result of a distribution other than in liquidation of a Member&#146;s interest in the Company, the amount of such adjustment shall be treated as an item of gain (if the adjustment increases the basis of such asset) or loss (if the adjustment decreases the basis of such asset) from the disposition of the asset and shall be taken into account for purposes of computing Net Income and Net Loss.&#160; (B)&nbsp;To the extent an adjustment to the adjusted tax basis of any Company asset pursuant to Sections&nbsp;734(b)&nbsp;or 743(b)&nbsp;of the Code is required, pursuant to Treasury Regulations Section&nbsp;1.704-1(b)(2)(iv)(m)(2)&nbsp;or Section&nbsp;1.704-1(b)(2)(iv)(m)(4), to be taken into account in determining Capital Accounts as the result of a distribution to a Member in complete liquidation of such Member&#146;s interest in the Company, the amount of such adjustment to Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis) and such gain or loss shall be specially allocated to such Members in accordance with their interests in the Company in the event Treasury Regulations Section&nbsp;1.704-1(b)(2)(iv)(m)(2)&nbsp;applies, or to the Member to whom such distribution was made in the event Treasury Regulations Section&nbsp;1.704-1(b)(2)(iv)(m)(4)&nbsp;applies.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Curative Allocations</font></u><font size="2" style="font-size:10.0pt;">.&#160; The allocations set forth in Section 5.04(b)(i) through Section 5.04(b)(vi) and Section 5.04(d)&nbsp;(the &#147;<u>Regulatory Allocations</u>&#148;) are intended to comply with certain requirements of the Treasury Regulations.&#160; It is the intent of the Members that, to the extent possible, all Regulatory Allocations shall be offset either with other Regulatory Allocations or with special allocations of other items of Company income, gain, loss, or deduction pursuant to this Section&nbsp;5.04(c).&#160; Therefore, notwithstanding any other provision of this Article&nbsp;V (other than the Regulatory Allocations), the Managing Member shall make such offsetting special allocations of Company income, gain, loss, or deduction in whatever manner it</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">36<a name="26867-3-NL-07_PB_36_154019_3641"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=40,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=160848,FOLIO='36',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-07_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 16:34 2015' -->

<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">determines appropriate so that, after such offsetting allocations are made, each Member&#146;s Capital Account balance is, to the extent possible, equal to the Capital Account balance such Member would have had if the Regulatory Allocations were not part of the Agreement and all Company items were allocated pursuant to Section&nbsp;5.04.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Loss Limitation</font></u><font size="2" style="font-size:10.0pt;">.&#160; Net Loss (or individual items of loss or deduction) allocated pursuant to Section&nbsp;5.04 hereof shall not exceed the maximum amount of Net Loss (or individual items of loss or deduction) that can be allocated without causing any Member to have an Adjusted Capital Account Deficit at the end of any Fiscal Year.&#160; In the event some but not all of the Members would have Adjusted Capital Account Deficits as a consequence of an allocation of Net Loss (or individual items of loss or deduction) pursuant to Section&nbsp;5.04 hereof, the limitation set forth in this Section&nbsp;5.04(d)&nbsp;shall be applied on a Member by Member basis and Net Loss (or individual items of loss or deduction) not allocable to any Member as a result of such limitation shall be allocated to the other Members in accordance with the positive balances in such Member&#146;s Capital Accounts so as to allocate the maximum permissible Net Loss to each Member under Treasury Regulations Section&nbsp;1.704-1(b)(2)(ii)(d).&#160; Any reallocation of Net Loss pursuant to this Section&nbsp;5.04(d)&nbsp;shall be subject to chargeback pursuant to the curative allocation provision of Section&nbsp;5.04(c).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.05</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Other Allocation Rules</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Interim Allocations Due to Percentage Adjustment</font></u><font size="2" style="font-size:10.0pt;">.&#160; If a Percentage Interest is the subject of a Transfer or the Members&#146; interests in the Company change pursuant to the terms of the Agreement during any Fiscal Year, the amount of Net Income and Net Loss (or items thereof) to be allocated to the Members for such entire Fiscal Year shall be allocated to the portion of such Fiscal Year which precedes the date of such Transfer or change (and if there shall have been a prior Transfer or change in such Fiscal Year, which commences on the date of such prior Transfer or change) and to the portion of such Fiscal Year which occurs on and after the date of such Transfer or change (and if there shall be a subsequent Transfer or change in such Fiscal Year, which precedes the date of such subsequent Transfer or change), in accordance with an interim closing of the books, and the amounts of the items so allocated to each such portion shall be credited or charged to the Members in accordance with Section&nbsp;5.04 as in effect during each such portion of the Fiscal Year in question.&#160; Such allocation shall be in accordance with Section&nbsp;706 of the Code and the regulations thereunder and made without regard to the date, amount or receipt of any distributions that may have been made with respect to the transferred Percentage Interest to the extent consistent with Section&nbsp;706 of the Code and the regulations thereunder.&#160; As of the date of such Transfer, the Transferee Member shall succeed to the Capital Account of the Transferor Member with respect to the transferred Units.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Tax Allocations: Code Section&nbsp;704(c)</font></u><font size="2" style="font-size:10.0pt;">.&#160; </font><font size="2" style="font-size:10.0pt;">In accordance with Section&nbsp;704(c)&nbsp;of the Code and the Treasury Regulations thereunder, income, gain, loss, and deduction with respect to any Property contributed to the capital of the Company and with respect to reverse Code Section&nbsp;704(c)&nbsp;allocations described in Treasury Regulations 1.704-3(a)(6)&nbsp;shall, solely for tax purposes, be allocated among the Members</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">37<a name="26867-3-NL-09_PB_37_154159_5250"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=41,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=432584,FOLIO='37',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-09_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:08 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">so as to take account of any variation between the adjusted basis of such Property to the Company for federal income tax purposes and its initial Carrying Value or its Carrying Value determined pursuant to Treasury Regulation 1.704-1(b)(2)(iv)(f)&nbsp;(computed in accordance with the definition of Carrying Value) using the traditional allocation method under Treasury Regulation 1.704-3(b).&#160; Any elections or other decisions relating to such allocations shall be made by the Managing Member in any manner that reasonably reflects the purpose and intention of this Agreement.&#160; Allocations pursuant to this Section&nbsp;5.05(b), Section&nbsp;704(c)&nbsp;of the Code (and the principles thereof), and Treasury Regulation 1.704-1(b)(4)(i)&nbsp;are solely for purposes of federal, state, and local taxes and shall not affect, or in any way be taken into account in computing, any Member&#146;s Capital Account or share of Net Income, Net Loss, other items, or distributions pursuant to any provision of this Agreement.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.06</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Tax Withholding; Withholding Advances</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Tax Withholding</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">If requested by the Managing Member, each Member shall, if able to do so, deliver to the Managing Member:&#160; (A)&nbsp;an affidavit in form satisfactory to the Company that the applicable Member (or its partners, as the case may be) is not subject to withholding under the provisions of any federal, state, local, foreign or other law; (B)&nbsp;any certificate that the Company may reasonably request with respect to any such laws; and/or (C)&nbsp;any other form or instrument reasonably requested by the Company relating to any Member&#146;s status under such law.&#160; In the event that a Member fails or is unable to deliver to the Company an affidavit described in subclause (A)&nbsp;of this clause&nbsp;(i), the Company may withhold amounts from such Member in accordance with Section&nbsp;5.06(b).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">After receipt of a written request of any Member, the Company shall provide such information to such Member and take such other action as may be reasonably necessary to assist such Member in making any necessary filings, applications or elections to obtain any available exemption from, or any available refund of, any withholding imposed by any foreign taxing authority with respect to amounts distributable or items of income allocable to such Member hereunder to the extent not adverse to the Company or any Member.&#160; In addition, the Company shall, at the request of any Member, make or cause to be made (or cause the Company to make) any such filings, applications or elections; <u>provided</u> that any such requesting Member shall cooperate with the Company, with respect to any such filing, application or election to the extent reasonably determined by the Company and that any filing fees, taxes or other out-of-pocket expenses reasonably incurred and related thereto shall be paid and borne by such requesting Member or, if there is more than one requesting Member, by such requesting Members in accordance with their Relative Percentage Interests.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Withholding Advances</font></u><font size="2" style="font-size:10.0pt;">.&#160; To the extent the Company is required by Applicable Law to withhold or to make tax payments on behalf of or with respect to any Member (e.g., backup withholding) (&#147;Withholding Advances&#148;), the Company may withhold such amounts and make such tax payments as so required.</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">38<a name="26867-3-NL-09_PB_38_154218_7672"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=42,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=883142,FOLIO='38',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-09_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:08 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Repayment of Withholding Advances</font></u><font size="2" style="font-size:10.0pt;">.&#160; All Withholding Advances made on behalf of a Member, plus interest thereon at a rate equal to the Prime Rate as of the date of such Withholding Advances plus 2.0% per annum, shall (i)&nbsp;be paid on demand by the Member on whose behalf such Withholding Advances were made (it being understood that no such payment shall increase such Member&#146;s Capital Account), or (ii)&nbsp;with the consent of the Managing Member and the affected Member be repaid by reducing the amount of the current or next succeeding distribution or distributions that would otherwise have been made to such Member or, if such distributions are not sufficient for that purpose, by so reducing the proceeds of liquidation otherwise payable to such Member.&#160; Whenever repayment of a Withholding Advance by a Member is made as described in clause&nbsp;(ii)&nbsp;of this Section&nbsp;5.06(c), for all other purposes of this Agreement such Member shall be treated as having received all distributions (whether before or upon any Dissolution Event) unreduced by the amount of such Withholding Advance and interest thereon.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Withholding Advances &#151; Reimbursement of Liabilities</font></u><font size="2" style="font-size:10.0pt;">.&#160; Each Member hereby agrees to reimburse the Company for any liability with respect to Withholding Advances (including interest thereon) required or made on behalf of or with respect to such Member (including penalties imposed with respect thereto).</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;VI</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CERTAIN TAX MATTERS</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Tax Matters Partner</font></u><font size="2" style="font-size:10.0pt;">.&#160; The &#147;<u>Tax Matters Partner</u>&#148; (as such term is defined in Section&nbsp;6231(a)(7)&nbsp;of the Code) of the Company shall be selected by the Managing Member with the initial Tax Matters Partner being Pubco.&#160; The Tax Matters Partner shall use its reasonable efforts to comply with the responsibilities outlined in Sections&nbsp;6221 through 6233 of the Code (including the Treasury Regulations promulgated thereunder) and shall have any powers necessary to perform fully in such capacity.&#160; The Tax Matters Partner is authorized to represent the Company before taxing authorities and courts in tax matters affecting the Company and the Members in their capacity as such and shall keep the Members promptly informed of any such administrative and judicial proceedings; <u>provided</u> that the SL Members shall be entitled to participate with the Tax Matters Partner in any tax matters that would reasonably be expected to have a materially disproportionate adverse effect on the SL Members (or any beneficial owners of the SL Members) as compared to the Viola Members (or any beneficial owners of the Viola Members).&#160; The Tax Matters Partner shall be entitled to be reimbursed by the Company for all reasonable third-party costs and expenses incurred by it in connection with any administrative or judicial proceeding affecting tax matters of the Company and the Members in their capacity as such.&#160; The Tax Matters Partner shall not bind any Member to any settlement agreement or closing agreement without such Member&#146;s prior written consent.&#160; Any Member who enters into a settlement agreement with any tax authority with respect to any Company item shall notify the Tax Matters Partner of such settlement agreement and its terms within thirty (30) days after the date of settlement.&#160; This provision shall survive any termination of this Agreement.</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">39<a name="26867-3-NL-09_PB_39_154238_536"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=43,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=510022,FOLIO='39',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-09_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:08 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Section&nbsp;754 Election</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Company has previously made a timely election under Section&nbsp;754 of the Code (and a corresponding election under state and local law) effective starting with the taxable year ended December&nbsp;31, 2011, and the Managing Member shall not take any action to revoke such election.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.04</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.05</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Debt Allocation</font></u><font size="2" style="font-size:10.0pt;">.&#160; Indebtedness of the Company treated as &#147;excess nonrecourse liabilities&#148; (as defined in Treasury Regulation Section&nbsp;1.752-3(a)(3)) shall be allocated among the Members based on their Percentage Interests.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;VII<br> MANAGEMENT OF THE COMPANY</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Management by the Managing Member</font></u><font size="2" style="font-size:10.0pt;">.&#160; Except as otherwise specifically set forth in this Agreement, the Managing Member shall be deemed to be a &#147;manager&#148; for purposes of applying the Delaware Act.&#160; Except as expressly provided in this Agreement or the Delaware Act, the day-to-day business and affairs of the Company and its Subsidiaries shall be managed, operated and controlled by the Managing Member in accordance with the terms of this Agreement and no other Members shall have management authority or rights over the Company or its Subsidiaries.&#160; The Managing Member is, to the extent of its rights and powers set forth in this Agreement, an agent of the Company for the purpose of the Company&#146;s and its Subsidiaries&#146; business, and the actions of the Managing Member taken in accordance with such rights and powers, shall bind the Company (and no other Members shall have such right).&#160; Except as expressly provided in this Agreement, the Managing Member shall have all necessary powers to carry out the purposes, business, and objectives of the Company and its Subsidiaries.&#160; The Managing Member may delegate to Members, employees, officers or agents of the Company or any Subsidiary in its discretion the authority to sign agreements and other documents on behalf of the Company or any Subsidiary.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Withdrawal of the Managing Member</font></u><font size="2" style="font-size:10.0pt;">.&#160; Pubco may withdraw as the Managing Member and appoint as its successor at any time upon written notice to the Company (i)&nbsp;any wholly-owned Subsidiary of Pubco, (ii)&nbsp;any Person of which Pubco is a wholly-owned Subsidiary, (iii)&nbsp;any Person into which Pubco is merged or consolidated or (iv)&nbsp;any transferee of all or substantially all of the assets of Pubco, which withdrawal and replacement shall be effective upon the delivery of such notice.&#160; No appointment of a Person other than Pubco (or its successor, as applicable) as Managing Member shall be effective unless Pubco (or its successor, as applicable) and the new Managing Member (as applicable) provide all other Members with contractual rights, directly enforceable by such other Members against the new Managing Member, to cause the new Managing Member to comply with all the Managing Member&#146;s obligations under this Agreement and the Exchange Agreement.</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40<a name="26867-3-NL-09_PB_40_154253_5926"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=44,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=902411,FOLIO='40',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-09_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:08 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Decisions by the Members</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Other than the Managing Member, the Members shall take no part in the management of the Company&#146;s business, shall transact no business for the Company and shall have no power to act for or to bind the Company; <u>provided</u>, <u>however</u>, that the Company may engage any Member or principal, partner, member, shareholder or interest holder thereof as an employee, independent contractor or consultant to the Company, in which event the duties and liabilities of such individual or firm with respect to the Company as an employee, independent contractor or consultant shall be governed by the terms of such engagement with the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Except as expressly provided herein, neither the Members nor any class of Members shall have the power or authority to vote, approve or consent to any matter or action taken by the Company.&#160; Except as otherwise provided herein, any proposed matter or action subject to the vote, approval or consent of the Members or any class of Members shall require the approval of (i)&nbsp;a majority in interest of the Members or such class of Members, as the case may be (by (x)&nbsp;resolution at a duly convened meeting of the Members or such class of Members, as the case may be, or (y)&nbsp;written consent of the Members or such class of Members, as the case may be) and (ii)&nbsp;except with respect to any approval or other rights expressly granted to the Viola Members, the Temasek Equityholders or the SL Equityholders, the Managing Member.&#160; Except as expressly provided herein, all Members shall vote together as a single class on any matter subject to the vote, approval or consent of the Members (but not, for the avoidance of doubt, any vote, approval or consent of any class of Members).&#160; In the case of any such approval, a majority in interest of the Members or any class of Members, as the case may be, may call a meeting of the Members or such class of Members at such time and place or by means of telephone or other communications facility that permits all persons participating in such meeting to hear and speak to each other for the purpose of a vote thereon.&#160; Notice of any such meeting shall be required, which notice shall include a brief description of the action or actions to be considered by the Members or such class of Members, as the case may be.&#160; Unless waived by any such Member in writing, notice of any such meeting shall be given to each Member or Member of such class, as the case may be, at least four (4)&nbsp;days prior thereto.&#160; Attendance or participation of a Member at a meeting shall constitute a waiver of notice of such meeting, except when such Member attends or participates in the meeting for the express purpose of objecting at the beginning thereof to the transaction of any business because the meeting is not properly called or convened.&#160; Any action required or permitted to be taken at any meeting of the Members may be taken without a meeting, if a consent in writing, setting forth the actions so taken, shall be signed by Members sufficient to approve such action pursuant to this Section&nbsp;7.03(b).&#160; A copy of any such consent in writing will be provided to the Members promptly thereafter.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.04</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.05</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.06</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">41<a name="26867-3-NL-09_PB_41_154307_4688"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=45,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=777210,FOLIO='41',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-09_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:08 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.07</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Fiduciary Duties</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">(i)&nbsp;The Managing Member shall, in its capacity as Managing Member, and not in any other capacity, have the same fiduciary duties to the Company and the Members as a member of the board of directors of a Delaware corporation (assuming such corporation had in its certificate of incorporation a provision eliminating the liabilities of directors and officers to the maximum extent permitted by Section&nbsp;102(b)(7)&nbsp;of the DGCL); (ii)&nbsp;any member of the Board of Directors of Pubco that is an officer of Pubco or the Company (including Viola) shall, in its capacity as director, and not in any other capacity, have the same fiduciary duties to Pubco as a member of the board of directors of a Delaware corporation (assuming such corporation had in its certificate of incorporation a provision eliminating the liabilities of directors and officers to the maximum extent permitted by Section&nbsp;102(b)(7)&nbsp;of the DGCL); and (iii)&nbsp;each Officer and each officer of Pubco (including Viola) shall, in their capacity as such, and not in any other capacity, have the same fiduciary duties to the Company and the Members (in the case of any Officer) or Pubco (in the case of any officer of Pubco) as an officer of a Delaware corporation (assuming such corporation had in its certificate of incorporation a provision eliminating the liabilities of directors and officers to the maximum extent permitted by Section&nbsp;102(b)(7)&nbsp;of the DGCL).&#160; Notwithstanding the immediately preceding sentence, to the extent he is an Officer or a director or officer of Pubco, Viola shall not have any duty or obligation to present any opportunity to the Company if he reasonably believes the opportunity is not appropriate for the Company to pursue.&#160; For the avoidance of doubt, the fiduciary duties described in clause (i)&nbsp;above shall not be limited by the fact that the Managing Member shall be permitted to take certain actions in its sole or reasonable discretion pursuant to the terms of this Agreement or any agreement entered into in connection herewith.&#160; For the avoidance of doubt, but without limiting any of their obligations under Section&nbsp;9.04 or any other written agreement with Pubco, the Company or any other respective Subsidiaries, to the extent Viola or Douglas A. Cifu (&#147;<u>Cifu</u>&#148;) is an Officer or a director or officer of Pubco, this Section&nbsp;7.07(a)&nbsp;shall not preclude Viola or Cifu from continuing to be engaged in, or provide services to, the businesses and activities disclosed by Viola to SL and Temasek in writing prior to the date hereof in reference to this Section&nbsp;7.07(a), and shall not preclude Cifu from being permitted to become engaged in, or provide services to, any other business or activity, whether as owner, partner, investor, consultant, agent, employee, co-venturer or otherwise, in which Viola is permitted to become engaged in, to the extent that Cifu&#146;s level of participation in such businesses or activities are consistent with his participation in such businesses and activities disclosed to SL and Temasek in writing prior to the date hereof.&#160; Each of the SL Equityholders, the Temasek Equityholders and the Viola Members shall have the exclusive right to enforce the rights and duties, or to waive such rights and duties, set forth in this Section&nbsp;7.07(a), in each case so long as it meets the Limited Ownership Minimum.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The parties acknowledge that the Managing Member will take action through its board of directors, and that the members of the Managing Member&#146;s board of directors will owe fiduciary duties to the stockholders of the Managing Member.&#160; The Managing Member will use all commercially reasonable and appropriate efforts and means, as determined in good faith by the Managing Member, to</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">42<a name="26867-3-NL-09_PB_42_154339_2983"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=46,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=718281,FOLIO='42',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-09_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:08 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">minimize any conflict of interest between the Members, on the one hand, and the stockholders of the Managing Member, on the other hand, and to effectuate any transaction that involves or affects any of the Company, the Managing Member, the Members and/or the stockholders of the Managing Member in a manner that does not (i)&nbsp;disadvantage the Members or their interests relative to the stockholders of the Managing Member or (ii)&nbsp;advantage the stockholders of the Managing Member relative to the Members or (iii)&nbsp;treats the Members and the stockholders of the Managing Member differently; <u>provided</u> that in the event of a conflict between the interests of the stockholders of the Managing Member and the interests of the Members other than the Managing Member, such other Members agree that the Managing Member shall discharge its fiduciary duties to such other Members by acting in the best interests of the Managing Member&#146;s stockholders.&#160; Each of the SL Equityholders and the Viola Members shall have the exclusive right to enforce the rights and duties, or to waive such rights and duties, set forth in this Section&nbsp;7.07(b), in each case so long as it meets the Limited Ownership Minimum.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Without prior written consent of the SL Equityholders and the Viola Members (in each case so long as it owns any Owned Shares), the Managing Member will not engage in any business activity other than the direct or indirect management and ownership of the Company and its Subsidiaries, or own any assets (other than on a temporary basis) other than securities of the Company and its Subsidiaries (whether directly or indirectly held) and/or any cash or other property or assets distributed by or otherwise received from the Company in accordance with this Agreement, provided that the Managing Member may take any action (including incurring its own Indebtedness) or own any asset if it determines in good faith that such actions or ownership are in the best interest of the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.08</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Officers</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Appointment of Officers</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Managing Member may appoint individuals as officers (&#147;<u>Officers</u>&#148;) of the Company, which may include such officers as the Managing Member determines are necessary and appropriate.&#160; No Officer need be a Member.&#160; An individual may be appointed to more than one office.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Authority of Officers</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Officers shall have the duties, rights, powers and authority as may be prescribed by the Managing Member from time to time.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Removal, Resignation and Filling of Vacancy of Officers</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Managing Member may remove any Officer, for any reason or for no reason, at any time.&#160; Any Officer may resign at any time by giving written notice to the Company, and such resignation shall take effect at the date of the receipt of that notice or any later time specified in that notice; <u>provided</u> that, unless otherwise specified in that notice, the acceptance of the resignation shall not be necessary to make it effective.&#160; Any such resignation shall be without prejudice to the rights, if any, of the Company or such Officer under this Agreement.&#160; A vacancy in any office because of death, resignation, removal or otherwise shall be filled by the Managing Member.</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">43<a name="26867-3-NL-09_PB_43_154354_6228"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=47,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=393596,FOLIO='43',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-09_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:08 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;VIII</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">TRANSFERS OF INTERESTS</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;8.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Restrictions on Transfers</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Except as expressly permitted by Section&nbsp;8.02, and subject to Section&nbsp;8.01(b), Section&nbsp;8.01(c), Section&nbsp;8.01(d)&nbsp;and Section&nbsp;8.01(e), any underwriter lock-up agreement applicable to such Member, any Employee Equity Letter and/or any other agreement between such Member and the Company, Pubco or any of their controlled Affiliates, without the prior written approval of the Managing Member, no Member shall directly or indirectly Transfer all or any part of its Units or any right or economic interest pertaining thereto, including the right to vote or consent on any matter or to receive or have any economic interest in distributions or advances from the Company pursuant thereto.&#160; Any such Transfer which is not in compliance with the provisions of this Agreement shall be deemed a Transfer by such Member of Units in violation of this Agreement (and a breach of this Agreement by such Member) and shall be null and void <i>ab initio</i>.&#160; Notwithstanding anything to the contrary in this Article&nbsp;VIII, (i)&nbsp;the Exchange Agreement shall govern the exchange of Paired Interests for shares of Class&nbsp;A Common Stock or Class&nbsp;B Common Stock, and an exchange pursuant to and in accordance with the Exchange Agreement shall not be considered a &#147;Transfer&#148; for purposes of this Agreement, (ii)&nbsp;the certificate of incorporation of Pubco shall govern the conversion of Class&nbsp;B Common Stock to Class&nbsp;A Common Stock and the conversion of Class&nbsp;D Common Stock to Class&nbsp;C Common Stock, and a conversion pursuant to and in accordance with the certificate of incorporation of Pubco shall not be considered a &#147;Transfer&#148; for purposes of this Agreement, (iii)&nbsp;a Transfer of Registrable Securities (as such term is defined in the Registration Rights Agreement) in accordance with the Registration Rights Agreement shall not be considered a &#147;Transfer&#148; for the purposes of the Agreement and (iv)&nbsp;any other Transfer of shares of Class&nbsp;A Common Stock or Class&nbsp;B Common Stock shall not be considered a &#147;Transfer&#148; for purposes of this Agreement.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Except as otherwise expressly provided herein, it shall be a condition precedent to any Transfer otherwise permitted or approved pursuant to this Article&nbsp;VIII that:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the Transferor shall have provided to the Company prior notice of such Transfer;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the Transfer shall comply with all Applicable Laws; and</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">with respect to any Transfer of any Common Unit that constitutes a portion of a Paired Interest, concurrently with such Transfer, such Transferor shall also Transfer to such Transferee the number of shares of Class&nbsp;C Common Stock or Class&nbsp;D Common Stock, as the case may be, constituting the remainder of such Paired Interest (which, as of the date hereof, would be one share of Class&nbsp;C Common Stock or Class&nbsp;D Common Stock, as the case may be).</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">44<a name="26867-3-NL-09_PB_44_154407_6479"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=48,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=465181,FOLIO='44',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-09_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:08 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Notwithstanding any other provision of this Agreement to the contrary, no Member shall directly or indirectly Transfer all or any part of its Units or any right or economic interest pertaining thereto if such Transfer, in the reasonable discretion of the Managing Member, would cause the Company to be classified as a &#147;publicly traded partnership&#148; as that term is defined in Section&nbsp;7704 of the Code and Regulations promulgated thereunder.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Any Transfer of Units pursuant to this Agreement, including this Article&nbsp;VIII, shall be subject to the provisions of Section&nbsp;3.01 and Section&nbsp;3.02.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">For the avoidance of doubt, in addition to any restrictions on Transfer set forth in this Article&nbsp;VIII that may apply to such Transfer, (i)&nbsp;any Transfer of Units by any Member shall be subject to the restrictions on Transfer applicable thereto pursuant to any Employee Equity Letter to which such Member is a party and (ii)&nbsp;any Transfer of Employee Holdco Interests (as defined below) shall be subject to the restrictions on Transfer applicable thereto pursuant to the Employee Holdco LLC Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;8.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Certain Permitted Transfers</font></u><font size="2" style="font-size:10.0pt;">.&#160; Notwithstanding anything to the contrary herein, the following Transfers shall be permitted:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Any Transfer by any Member of its Units pursuant to a Pubco Offer (as such term is defined in the Exchange Agreement) or Disposition Event (as such term is defined in the certificate of incorporation of Pubco);</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">At any time, any Transfer by any SL Member of Units to any Transferee; <u>provided</u> that such Transfer, alone or together with other Transfers by any SL Member and any Transferee thereof, would not result in all SL Members and their Transferees, in the aggregate, representing at any time more than four partners for the purposes of Treasury Regulation Section&nbsp;1.7704-1(h)(1)(ii), including the application of the anti-avoidance rule&nbsp;of Treasury Regulation Section&nbsp;1.7704-1(h)(3), excluding Pubco from the four partners for purposes of this Section&nbsp;8.02(b);</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">At any time, any Transfer by any Member (other than any SL Member) of Units to any Transferee (i)&nbsp;previously approved in writing by the Company prior to the Reorganization or (ii)&nbsp;approved in writing by the Managing Member (not to be unreasonably withheld), it being understood that it shall be reasonable for the Managing Member to withhold such consent if the Managing Member reasonably determines that such Transfer would materially increase the risk that the Company would be classified as a &#147;publicly traded partnership&#148; as that term is defined in Section&nbsp;7704 of the Code and Regulations promulgated thereunder; or</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Any Transfer of Units to any Employee Holdco Member in connection with (x)&nbsp;the exercise of any repurchase right in respect of such Units by Employee Holdco pursuant to the terms of the Employee Holdco LLC Agreement, (y)&nbsp;the exercise of any right of such Employee Holdco Member to be distributed such Units</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">45<a name="26867-3-NL-09_PB_45_154442_2639"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=49,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=1035007,FOLIO='45',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-09_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:08 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">pursuant to the terms of the Employee Holdco LLC Agreement or (z)&nbsp;the liquidation, dissolution and/or winding up of Employee Holdco.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;8.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;8.04</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;8.05</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;8.06</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Registration of Transfers</font></u><font size="2" style="font-size:10.0pt;">.&#160; When any Units are Transferred in accordance with the terms of this Agreement, the Company shall cause such Transfer to be registered on the books of the Company.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;IX</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CERTAIN OTHER AGREEMENTS</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;9.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;9.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;9.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;9.04</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Non-Compete; Non-Solicitation</font></u><font size="2" style="font-size:10.0pt;">.&#160; Each Restricted Member agrees for the benefit of the Company and each SL Equityholder, Temasek Equityholder and Viola Member that:</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">No Restricted Member shall directly or indirectly engage in any Competitive Activity from and after the date hereof until the third (3</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">rd</font><font size="2" style="font-size:10.0pt;">) anniversary following such Restricted Member&#146;s Termination Date.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Except as disclosed to SL in writing prior to the date hereof, Restricted Members shall not directly or indirectly solicit, or assist any other Person to solicit, as an employee or consultant any employee, former employee or Restricted Member of the Company or any of its Subsidiaries (the &#147;<u>Company Parties</u>&#148;) until the third (3</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">rd</font><font size="2" style="font-size:10.0pt;">) anniversary following such Restricted Member&#146;s Termination Date.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Except as disclosed to SL in writing prior to the date hereof, the Restricted Members shall not, and shall cause their respective controlled Affiliates not to, hire, or assist any other Person to hire, as an employee or consultant any employee, former employee, Member or retired Member of the Company Parties until the third (3</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">rd</font><font size="2" style="font-size:10.0pt;">) anniversary following such Restricted Member&#146;s Termination Date.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">No Member shall take, and each Member shall take reasonable steps to cause its Affiliates not to take, any action or make any public statement, whether or not in writing, that disparages or denigrates the Company Parties or their respective directors, officers, employees, members, representatives and agents.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">46<a name="26867-3-NL-09_PB_46_154525_2794"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=50,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=265795,FOLIO='46',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-09_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:08 2015' -->

<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Without prejudice to the other restrictions contained in this Section&nbsp;9.04, so long as the SL Members meet the Limited Ownership Minimum, Viola and each of the Viola Members will not, and will cause their Affiliates (other than the Company and its Subsidiaries) not to, directly or indirectly, enter into any transaction with, employ or otherwise provide any compensation or other benefit to (i)&nbsp;any Person who at such time is, or at any time within three (3)&nbsp;years of such time was, an employee, Officer or consultant of the Company or its Subsidiaries or (ii)&nbsp;any controlled Affiliate of any Person described in clause (i)&nbsp;(other than cash compensation payable to the individuals disclosed to the SL Investor in writing prior to the date hereof in reference to this Section&nbsp;9.04(e)).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Each Restricted Member agrees that (i)&nbsp;the agreements and covenants contained in this Section&nbsp;9.04 are reasonable in scope and duration, an integral part of the transactions contemplated by this Agreement and by the MTH Transaction Documents and the Reorganization Documents, and necessary to protect and preserve the Members&#146; and Company Parties&#146; legitimate business interests and to prevent any unfair advantage conferred on such Restricted Member taking into account and in specific consideration of the undertakings and obligations of the parties under the Agreement, the MTH Transaction Documents and the Reorganization Documents, (ii)&nbsp;but for each Restricted Member&#146;s agreement to be bound by the agreements and covenants contained under this Section&nbsp;9.04, the SL Members, the Viola Members and the Company Parties would not have entered into or consummated those transactions contemplated the Agreement, the MTH Transaction Documents and the Reorganization Documents and (iii)&nbsp;that irreparable harm would result to the SL Members, the Viola Members and the Company Parties as a result of a violation or breach (or potential violation or breach) by such Restricted Member (or his Affiliates) of this Section&nbsp;9.04.&#160; In addition, each Restricted Member agrees that each of the following parties shall have the right to specifically enforce the provisions of this Section&nbsp;9.04 in any federal court located in the State of Delaware or any Delaware state court, in addition to any other remedy to which such parties are entitled at law or in equity:</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.75in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(x)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the Managing Member against any Restricted Member;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.75in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.75in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(y)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the SL Members against (1)&nbsp;any Restricted Member (other than a Viola Member and/or Cifu) so long as it meets the Ownership Minimum and (2)&nbsp;any Viola Member and/or Cifu so long as it meets the Limited Ownership Minimum; and</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.75in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.75in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(z)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the Viola Members against (1)&nbsp;any Restricted Member (other than a Viola Member and/or Cifu) so long as it meets the Ownership Minimum and (2)&nbsp;Cifu so long as it meets the Limited Ownership Minimum.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.75in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If a final judgment of a court of competent jurisdiction or other Governmental Authority determines that any term, provision, covenant or restriction contained in this Section&nbsp;9.04 is invalid or unenforceable, then the parties hereto agree that the court of competent</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">47<a name="26867-3-NL-11_PB_47_154739_8299"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=51,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=588913,FOLIO='47',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-11_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 15:52 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">jurisdiction or other Governmental Authority will have the power to modify this Section&nbsp;9.04 (including by reducing the scope, duration or geographic area of the term or provision, deleting specific words or phrases or replacing any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision) so as to effect the original intention of the invalid or unenforceable term or provision.&#160; To the fullest extent permitted by law, in the event that any proceeding is brought under or in connection with this Section&nbsp;9.04, the prevailing party in such proceeding (whether at final or on appeal) shall be entitled to recover from the other party all costs, expenses, and reasonable attorneys&#146; fees incident to any such proceeding.&#160; The term &#147;prevailing party&#148; as used herein means the party in whose favor the final judgment or award is entered in any such proceeding.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;9.05</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Company Call Right</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">In connection with any Involuntary Transfer by any Non-Pubco Member (other than any SL Member or any Viola Member), the Company or the Managing Member may, in the Managing Member&#146;s sole discretion, elect to purchase from such Member and/or such Transferee(s)&nbsp;in such Involuntary Transfer (each, a &#147;<u>Call Member</u>&#148;) any or all of Units so Transferred, together with any shares of Pubco Common Stock constituting the remainder of any Paired Interests in which such Units were included (&#147;<u>Call Paired Interests</u>&#148;), at any time by delivery of a written notice (a &#147;<u>Call Notice</u>&#148;) to such Call Member.&#160; The Call Notice shall set forth the Call Price and the proposed closing date of such purchase of such Call Paired Interests; <u>provided</u> that such closing date shall occur within ninety (90) days following the date of such Call Notice.&#160; At the closing of any such sale, in exchange for the payment by the Company or the Managing Member to such Call Members of the Call Price in cash, (i)&nbsp;each Call Member shall deliver its Call Paired Interests, duly endorsed, or accompanied by written instruments of transfer in form satisfactory to the Company or the Managing Member, as applicable, duly executed by such Call Member and accompanied by all requisite transfer taxes, if any, (ii)&nbsp;such Call Paired Interests shall be free and clear of any Liens and (iii)&nbsp;each Call Member shall so represent and warrant and further represent and warrant that it is the sole beneficial and record owner of such Call Paired Interests.&#160; Following such closing, any such Call Member shall no longer be entitled to any rights in respect of its Call Paired Interests, including any distributions of the Company or Pubco thereupon (other than the payment of the Call Price at such closing), and, to the extent any such Call Member does not hold any Units thereafter, shall thereupon cease to be a Member of the Company and, to the extent any such Call Member does not hold any shares of Pubco Common Stock thereafter, shall thereupon cease to be a stockholder of Pubco.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">For the purposes of this Section&nbsp;9.05, &#147;<u>Call Price</u>&#148; means an amount equal to the fair market value of such Call Paired Interests (as reasonably determined by the Managing Member based on the market price of the Class&nbsp;A Common Stock into which such Call Paired Interests are exchangeable).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;9.06</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">48<a name="26867-3-NL-11_PB_48_154752_8247"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=52,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=1036159,FOLIO='48',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-11_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 15:52 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;9.07</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;9.08</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;9.09</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Employee Holdco</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Employee Holdco has been established as a special purpose investment vehicle through which the members thereof (the &#147;<u>Employee Holdco Members</u>&#148;) indirectly hold interests in the Company through the ownership of membership interests in Employee Holdco (&#147;<u>Employee Holdco Interests</u>&#148;).&#160; In applying the provisions of this Agreement (including Article&nbsp;V, Article&nbsp;VI, Article&nbsp;VII, Article&nbsp;VIII and Article&nbsp;IX), and in order to determine equitably the rights and obligations of Employee Holdco and the Employee Holdco Members, the Managing Member, the Company and/or Employee Holdco may treat (a)&nbsp;the Units held by Employee Holdco as if they were directly held by the Employee Holdco Members having an indirect economic interest therein and (b)&nbsp;any Employee Holdco Member as if it were a Member with a corresponding interest in a proportionate portion of the Units owned by Employee Holdco.&#160; Accordingly, upon (i)&nbsp;any issuance of additional Units to Employee Holdco for the benefit of any Employee Holdco Member (or the occurrence of any event that causes the repurchase or forfeiture of any Units), (ii)&nbsp;the Transfer of Units by Employee Holdco or (iii)&nbsp;</font><font size="2" style="font-size:10.0pt;">any merger, consolidation, sale of all or substantially all of the assets of the Company, issuance of debt or other similar capital transaction of the Company (each, an &#147;<u>Employee Holdco Action</u>&#148;)</font><font size="2" style="font-size:10.0pt;">, the Managing Member, the Company and/or Employee Holdco may take any action or make any adjustment with respect to the Employee Holdco Interests to replicate, as closely as possible, such Employee Holdco Action (including the effects thereof), </font><font size="2" style="font-size:10.0pt;">and the Members shall take all actions reasonably requested by the Managing Member in connection with any </font><font size="2" style="font-size:10.0pt;">Employee Holdco Action</font><font size="2" style="font-size:10.0pt;"> and this Section&nbsp;9.09</font><font size="2" style="font-size:10.0pt;">.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Notwithstanding the provisions of Section&nbsp;5.03(b), the Managing Member, in its sole discretion, may authorize that cash be paid to Employee Holdco (which payment shall be made without pro rata distributions to the other Members) in exchange for the redemption, repurchase or other acquisition of such Employee Holdco&#146;s Units to the extent that such cash payment is used by Employee Holdco to redeem, repurchase or otherwise acquire from an Employee Holdco Member the Employee Holdco Interests representing a corresponding indirect interest in the Units so redeemed, repurchased or otherwise acquired by the Company; <u>provided</u>, that the amount of cash so paid does not exceed the fair market value thereof (as determined by the Managing Member based on the market price of the Class&nbsp;A Common Stock into which such Units are exchangeable).</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">49<a name="26867-3-NL-11_PB_49_154804_5893"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=53,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=147575,FOLIO='49',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-11_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 15:52 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;X</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">LIMITATION ON LIABILITY, EXCULPATION<br> AND INDEMNIFICATION</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;10.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Limitation on Liability</font></u><font size="2" style="font-size:10.0pt;">.&#160; The debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the Company, and no Covered Person shall be obligated personally for any such debt, obligation or liability of the Company; <u>provided</u> that the foregoing shall not alter a Member&#146;s obligation to return funds wrongfully distributed to it.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;10.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Exculpation and Indemnification</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Subject to the duties of the Managing Member and Officers set forth in Section&nbsp;7.07, neither the Managing Member nor any other Covered Person described in clause (iii)&nbsp;of the definition thereof shall be liable, including under any legal or equitable theory of fiduciary duty or other theory of liability, to the Company or to any other Covered Person for any losses, claims, damages or liabilities incurred by reason of any act or omission performed or omitted by such Covered Person in good faith on behalf of the Company.&#160; There shall be, and each Covered Person shall be entitled to, a presumption that such Covered Person acted in good faith.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">A Covered Person shall be fully protected in relying in good faith upon the records of the Company and upon such information, opinions, reports or statements presented to the Company by any Person as to matters the Covered Person reasonably believes are within such Person&#146;s professional or expert competence.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company shall indemnify, defend and hold harmless each Covered Person against any losses, claims, damages, liabilities, expenses (including all reasonable out-of-pocket fees and expenses of counsel and other advisors), judgments, fines, settlements and other amounts arising from any and all claims, demands, actions, suits or proceedings, in which such Covered Person may be involved or become subject to, in connection with any matter arising out of or in connection with the Company&#146;s business or affairs, or this Agreement or any related document, unless such loss, claim, damage, liability, expense, judgment, fine, settlement or other amount (i)&nbsp;is as a result of a Covered Person not acting in good faith on behalf of the Company or arose as a result of the willful commission by such Covered Person of any act that is dishonest and materially injurious to the Company, (ii)&nbsp;results from its contractual obligations under any MTH Transaction Document, the Equity Redemption and Purchase Agreement or any Reorganization Document to be performed in a capacity other than as a Covered Person or from the breach by such Covered Person of Section&nbsp;9.04 or (iii)&nbsp;results from the breach by any Member (in such capacity) of its contractual obligations under this Agreement.&#160; If any Covered Person becomes involved in any capacity in any action, suit, proceeding or investigation in connection with any matter arising out of or in connection with the Company&#146;s business or affairs, or this Agreement or any related document (other than any MTH Transaction Document, the Equity Redemption and Purchase Agreement</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">50<a name="26867-3-NL-11_PB_50_155126_9862"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=54,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=561161,FOLIO='50',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-11_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 15:52 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">or Reorganization Document), other than (x)&nbsp;by reason of any act or omission performed or omitted by such Covered Person that was not in good faith on behalf of the Company or constituted a willful commission by such Covered Person of an act that is dishonest and materially injurious to the Company or (y)&nbsp;as a result of any breach by such Covered Person of Section&nbsp;9.04, the Company shall reimburse such Covered Person for its reasonable legal and other reasonable out-of-pocket expenses (including the cost of any investigation and preparation) as they are incurred in connection therewith; <u>provided</u> that such Covered Person shall promptly repay to the Company the amount of any such reimbursed expenses paid to it if it shall be finally judicially determined that such Covered Person was not entitled to indemnification by, or contribution from, the Company in connection with such action, suit, proceeding or investigation.&#160; If for any reason (other than the bad faith of a Covered Person or the willful commission by such Covered Person of an act that is dishonest and materially injurious to the Company) the foregoing indemnification is unavailable to such Covered Person, or insufficient to hold it harmless, then the Company shall contribute to the amount paid or payable by such Covered Person as a result of such loss, claim, damage, liability, expense, judgment, fine, settlement or other amount in such proportion as is appropriate to reflect any relevant equitable considerations.&#160; There shall be, and each Covered Person shall be entitled to, a rebuttable presumption that such Covered Person acted in good faith.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The obligations of the Company under Section&nbsp;10.02(c)&nbsp;shall be satisfied solely out of and to the extent of the Company&#146;s assets, and no Covered Person shall have any personal liability on account thereof.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Given that certain Jointly Indemnifiable Claims may arise by reason of the service of a Covered Person to the Company and/or as a director, trustee, officer, partner, member, manager, employee, consultant, fiduciary or agent of other corporations, limited liability companies, partnerships, joint ventures, trusts, employee benefit plans or other enterprises controlled by the Company (collectively, the &#147;<u>Controlled Entities</u>&#148;), or by reason of any action alleged to have been taken or omitted in any such capacity, the Company acknowledges and agrees that the Company shall, and to the extent applicable shall cause the Controlled Entities to, be fully and primarily responsible for the payment to the Covered Person in respect of indemnification or advancement of all out-of-pocket costs of any type or nature whatsoever (including, without limitation, all attorneys&#146; fees and related disbursements) in each case, actually and reasonably incurred by or on behalf of a Covered Person in connection with either the investigation, defense or appeal of a claim, demand, action, suit or proceeding or establishing or enforcing a right to indemnification under this Agreement or otherwise incurred in connection with a claim that is indemnifiable hereunder (collectively, &#147;<u>Expenses</u>&#148;) in connection with any such Jointly Indemnifiable Claim, pursuant to and in accordance with (as applicable) the terms of (i)&nbsp;the Delaware Act, (ii)&nbsp;this Agreement, (iii)&nbsp;any other agreement between the Company or any Controlled Entity and the Covered Person pursuant to which the Covered Person is indemnified, (iv)&nbsp;the laws of the jurisdiction of incorporation or organization of any Controlled Entity and/or (v)&nbsp;the certificate of incorporation, certificate of organization, bylaws, partnership agreement, operating agreement, certificate of formation, certificate of limited partnership, certificate</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">51<a name="26867-3-NL-11_PB_51_155234_9111"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=55,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=473674,FOLIO='51',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-11_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 15:52 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">of qualification or other organizational or governing documents of any Controlled Entity ((i)&nbsp;through (v)&nbsp;collectively, the &#147;<u>Indemnification Sources</u>&#148;), irrespective of any right of recovery the Covered Person may have from the Indemnitee-Related Entities.&#160; Under no circumstance shall the Company or any Controlled Entity be entitled to any right of subrogation or contribution by the Indemnitee-Related Entities and no right of advancement or recovery the Covered Person may have from the Indemnitee-Related Entities shall reduce or otherwise alter the rights of the Covered Person or the obligations of the Company or any Controlled Entity under the Indemnification Sources.&#160; In the event that any of the Indemnitee-Related Entities shall make any payment to the Covered Person in respect of indemnification or advancement of Expenses with respect to any Jointly Indemnifiable Claim, (i)&nbsp;the Company shall, and to the extent applicable shall cause the Controlled Entities to, reimburse the Indemnitee-Related Entity making such payment to the extent of such payment promptly upon written demand from such Indemnitee-Related Entity, (ii)&nbsp;to the extent not previously and fully reimbursed by the Company and/or any Controlled Entity pursuant to clause (i), the Indemnitee-Related Entity making such payment shall be subrogated to the extent of the outstanding balance of such payment to all of the rights of recovery of the Covered Person against the Company and/or any Controlled Entity, as applicable, and (iii)&nbsp;the Covered Person shall execute all papers reasonably required and shall do all things that may be reasonably necessary to secure such rights, including the execution of such documents as may be necessary to enable the Indemnitee-Related Entities effectively to bring suit to enforce such rights.&#160; The Company and the Covered Person agree that each of the Indemnitee-Related Entities shall be third-party beneficiaries with respect to this Section&nbsp;10.02(e), entitled to enforce this Section&nbsp;10.02(e)&nbsp;as though each such Indemnitee-Related Entity were a party to this Agreement.&#160; The Company shall cause each of the Controlled Entities to perform the terms and obligations of this Section&nbsp;10.02(e)&nbsp;as though each such Controlled Entity was the &#147;Company&#148; under this Agreement.&#160; For purposes of this Section&nbsp;10.02(e), the following terms shall have the following meanings:</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The term &#147;<u>Indemnitee-Related Entities</u>&#148; means any corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise (other than the Company, any Controlled Entity or the insurer under and pursuant to an insurance policy of the Company or any Controlled Entity) from whom a Covered Person may be entitled to indemnification or advancement of Expenses with respect to which, in whole or in part, the Company or any Controlled Entity may also have an indemnification or advancement obligation.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The term &#147;<u>Jointly Indemnifiable Claims</u>&#148; shall be broadly construed and shall include, without limitation, any claim, demand, action, suit or proceeding for which the Covered Person shall be entitled to indemnification or advancement of Expenses from both (i)&nbsp;the Company and/or any Controlled Entity pursuant to the Indemnification Sources, on the one hand, and (ii)&nbsp;any Indemnitee-Related Entity pursuant to any other agreement between any Indemnitee-Related Entity and the Covered Person pursuant to which the Covered Person is indemnified, the laws of the jurisdiction of incorporation or organization of any Indemnitee-Related Entity and/or the certificate of incorporation, certificate of organization, bylaws, partnership</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">52<a name="26867-3-NL-11_PB_52_155314_2270"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=56,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=1032435,FOLIO='52',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-11_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 15:52 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">agreement, operating agreement, certificate of formation, certificate of limited partnership or other organizational or governing documents of any Indemnitee-Related Entity, on the other hand.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;10.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Indemnification of Certain Matters</font></u><font size="2" style="font-size:10.0pt;">.&#160; At and after the MTH Transaction Effective Date, the Company has, and has caused its Subsidiaries to, and shall continue, and cause its Subsidiaries to continue, jointly and severally, to indemnify Viola and his Affiliates for any liabilities or obligations of Viola and such Affiliates in respect of (i)&nbsp;that certain Guaranty by Viola on behalf of Virtu Financial BD LLC in favor of JPMorgan Chase, (ii)&nbsp;the Guaranty of Lease, dated as of April&nbsp;18, 2008, by Viola to 645 Madison L.L.C., a New&nbsp;York limited liability company (&#147;<u>645 Madison</u>&#148;), in respect of the Agreement of Lease, between Madison and East, dated as April&nbsp;18, 2008 (the &#147;<u>Lease</u>&#148;) and (iii)&nbsp;the Guaranty of Lease, dated as April&nbsp;18, 2008, by Pioneer Futures,&nbsp;Inc.&#160; to 645 Madison in respect of the Lease, in each case, for so long as such guaranties remain in effect.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;XI</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DISSOLUTION AND TERMINATION</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;11.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Dissolution</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company shall not be dissolved by the admission of Additional Members or Substitute Members pursuant to Section&nbsp;3.02.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">No Member shall (i)&nbsp;resign from the Company prior to the dissolution and winding up of the Company except in connection with a Transfer of Units pursuant to the terms of this Agreement or (ii)&nbsp;take any action to dissolve, terminate or liquidate the Company or to require apportionment, appraisal or partition of the Company or any of its assets, or to file a bill for an accounting, except as specifically provided in this Agreement, and each Member, to the fullest extent permitted by Applicable Law, hereby waives any rights to take any such actions under Applicable Law, including any right to petition a court for judicial dissolution under Section&nbsp;18-802 of the Delaware Act.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company shall be dissolved and its business wound up only upon the earliest to occur of any one of the following events (each a &#147;<u>Dissolution Event</u>&#148;):</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The expiration of forty-five (45) days after the sale or other disposition of all or substantially all the assets of the Company; or</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">upon the approval of the Managing Member.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The death, retirement, resignation, expulsion, bankruptcy, insolvency or dissolution of a Member or the occurrence of any other event that terminates the continued membership of a Member of the Company shall not in and of itself cause dissolution of the Company.</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">53<a name="26867-3-NL-11_PB_53_155338_6952"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=57,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=1030180,FOLIO='53',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-11_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 15:52 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;11.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Winding Up of the Company</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Managing Member shall promptly notify the other Members of any Dissolution Event.&#160; Upon dissolution, the Company&#146;s business shall be liquidated in an orderly manner.&#160; The Managing Member shall appoint a liquidating trustee to wind up the affairs of the Company pursuant to this Agreement.&#160; In performing its duties, the liquidating trustee is authorized to sell, distribute, exchange or otherwise dispose of the assets of the Company in accordance with the Delaware Act and in any reasonable manner that the liquidating trustee shall determine to be in the best interest of the Members.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The proceeds of the liquidation of the Company shall be distributed in the following order and priority:</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">first</font></u><font size="2" style="font-size:10.0pt;">, to the creditors (including any Members or their respective Affiliates that are creditors) of the Company in satisfaction of all of the Company&#146;s liabilities (whether by payment or by making reasonable provision for payment thereof, including the setting up of any reserves which are, in the judgment of the liquidating trustee, reasonably necessary therefor); and</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">second</font></u><font size="2" style="font-size:10.0pt;">, to the Members in the same manner as distributions under Section&nbsp;5.03(b), subject to Section&nbsp;5.03(e).</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Distribution of Property</font></u><font size="2" style="font-size:10.0pt;">.&#160; In the event it becomes necessary in connection with the liquidation of the Company to make a distribution of Property in-kind, subject to the priority set forth in Section&nbsp;11.02, the liquidating trustee shall have the right to compel each Member to accept a distribution of any Property in-kind (with such Property, as a percentage of the total liquidating distributions to such Member, corresponding as nearly as possible to such Member&#146;s Percentage Interest), with such distribution being based upon the amount of cash that would be distributed to such Members if such Property were sold for an amount of cash equal to the fair market value of such Property, as determined by the liquidating trustee in good faith, subject to the last sentence of Section&nbsp;5.03(d).</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;11.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Termination</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Company shall terminate when all of the assets of the Company, after payment of or reasonable provision for the payment of all debts and liabilities of the Company, shall have been distributed to the Members in the manner provided for in this Article&nbsp;XI, and the certificate of formation of the Company shall have been cancelled in the manner required by the Delaware Act.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;11.04</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Survival</font></u><font size="2" style="font-size:10.0pt;">.&#160; Termination, dissolution, liquidation or winding up of the Company for any reason shall not release any party from any liability which at the time of such termination, dissolution, liquidation or winding up already had accrued to any other party or which thereafter may accrue in respect to any act or omission prior to such termination, dissolution, liquidation or winding up.</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">54<a name="26867-3-NL-11_PB_54_155401_9801"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=58,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=7292,FOLIO='54',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-11_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 15:52 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;XII</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">MISCELLANEOUS</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Expenses</font></u><font size="2" style="font-size:10.0pt;">.&#160; Other than as set forth in Section&nbsp;5.03(c)&nbsp;of the Reorganization Agreement or as set forth in Section&nbsp;3.5 of the SL Stockholders Agreement or as set forth in Section&nbsp;3.1 of the Temasek Merger Agreement, all costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the party incurring such cost or expense.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Further Assurances</font></u><font size="2" style="font-size:10.0pt;">.&#160; Each Member agrees to execute, acknowledge, deliver, file and record such further certificates, amendments, instruments and documents, and to do all such other acts and things, as may be required by Applicable Law or as, in the reasonable judgment of the Managing Member, may be necessary or advisable to carry out the intent and purposes of this Agreement.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Notices</font></u><font size="2" style="font-size:10.0pt;">.&#160; All notices, requests and other communications to any party hereunder shall be in writing (including facsimile transmission and electronic mail (&#147;<u>e-mail</u>&#148;) transmission, so long as a receipt of such e-mail is requested and received) and shall be given to such party at the address, facsimile number or e-mail address specified for such party on the Member Schedule&nbsp;hereto or, with respect to the Temasek Equityholder, as specified on the signature page&nbsp;hereto, or to such other address or facsimile number as such party may hereafter specify for the purpose by notice to the other parties hereto.&#160; All such notices, requests and other communications shall be deemed received on the date of receipt by the recipient thereof if received prior to 5:00&nbsp;p.m. on a Business Day in the place of receipt.&#160; Otherwise, any such notice, request or communication shall be deemed to have been received on the next succeeding Business Day in the place of receipt.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.04</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Binding Effect; Benefit; Assignment</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The provisions of this Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns.&#160; No provision of this Agreement is intended to confer any rights, benefits, remedies, obligations or liabilities hereunder upon any Person other than the parties hereto and their respective successors and assigns.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Except as provided in Article&nbsp;VIII, no Member may assign, delegate or otherwise transfer any of its rights or obligations under this Agreement without the consent of the Managing Member (it being understood that (i)&nbsp;Temasek Stockholder may assign, delegate or otherwise transfer such rights or obligations without such consent to Temasek Equityholders and (ii)&nbsp;SL Stockholder may assign, delegate or otherwise transfer such rights or obligations without such consent to SL Equityholders).</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">55<a name="26867-3-NL-11_PB_55_155421_2440"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=59,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=13433,FOLIO='55',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-11_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 15:52 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.05</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Jurisdiction</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The parties hereto agree that any suit, action or proceeding seeking to enforce any provision of, or based on any matter arising out of or in connection with, this Agreement or the transactions contemplated hereby (whether brought by any party or any of its Affiliates or against any party or any of its Affiliates) shall be brought in the Delaware Chancery Court or, if such court shall not have jurisdiction, any federal court located in the State of Delaware or other Delaware state court, and each of the parties hereby irrevocably consents to the jurisdiction of such courts (and of the appropriate appellate courts therefrom) in any such suit, action or proceeding and irrevocably waives, to the fullest extent permitted by law, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum.&#160; Process in any such suit, action or proceeding may be served on any party anywhere in the world, whether within or without the jurisdiction of any such court.&#160; Without limiting the foregoing, each party agrees that service of process on such party as provided in&nbsp;Section&nbsp;12.03 shall be deemed effective service of process on such party.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">EACH OF THE COMPANY AND THE MEMBERS HEREBY IRREVOCABLY DESIGNATES THE CORPORATION TRUST COMPANY (IN SUCH CAPACITY, THE &#147;<u>PROCESS AGENT</u>&#148;), WITH AN OFFICE AT CORPORATION TRUST CENTER, 1209 ORANGE STREET, WILMINGTON, NEW CASTLE COUNTY, DELAWARE 19801, AS ITS DESIGNEE, APPOINTEE AND AGENT TO RECEIVE, FOR AND ON ITS BEHALF SERVICE OF PROCESS IN SUCH JURISDICTION IN ANY LEGAL ACTION OR PROCEEDINGS WITH RESPECT TO THIS AGREEMENT OR ANY OTHER AGREEMENT EXECUTED IN CONNECTION WITH THIS AGREEMENT, AND SUCH SERVICE SHALL BE DEEMED COMPLETE UPON DELIVERY THEREOF TO THE PROCESS AGENT; <u>PROVIDED</u> THAT IN THE CASE OF ANY SUCH SERVICE UPON THE PROCESS AGENT, THE PARTY EFFECTING SUCH SERVICE SHALL ALSO DELIVER A COPY THEREOF TO EACH OTHER SUCH PARTY IN THE MANNER PROVIDED IN SECTION&nbsp;12.03 OF THIS AGREEMENT.&#160; EACH PARTY SHALL TAKE ALL SUCH ACTION AS MAY&nbsp;BE NECESSARY TO CONTINUE SAID APPOINTMENT IN FULL FORCE AND EFFECT OR TO APPOINT ANOTHER AGENT SO THAT SUCH PARTY SHALL AT ALL TIMES HAVE AN AGENT FOR SERVICE OF PROCESS FOR THE ABOVE PURPOSES IN WILMINGTON, DELAWARE.&#160; NOTHING HEREIN SHALL AFFECT THE RIGHT OF ANY PARTY TO SERVE PROCESS IN ANY MANNER PERMITTED BY APPLICABLE LAW.&#160; EACH PARTY EXPRESSLY ACKNOWLEDGES THAT THE FOREGOING WAIVER IS INTENDED TO BE IRREVOCABLE UNDER THE LAWS OF THE STATE OF DELAWARE AND OF THE UNITED STATES OF AMERICA.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.06</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">WAIVER OF JURY TRIAL</font></u><font size="2" style="font-size:10.0pt;">.&#160; EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">56<a name="26867-3-NL-11_PB_56_155433_5340"></a></font></p>
<div style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=60,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=76121,FOLIO='56',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-11_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 15:52 2015' -->

<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.07</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Counterparts</font></u><font size="2" style="font-size:10.0pt;">.&#160; This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.&#160; Until and unless each party has received a counterpart hereof signed by the other party hereto, this Agreement shall have no effect and no party shall have any right or obligation hereunder (whether by virtue of any other oral or written agreement or other communication).</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.08</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Entire Agreement</font></u><font size="2" style="font-size:10.0pt;">.&#160; This Agreement, the MTH Transaction Documents, the Equity Redemption and Purchase Agreement and the Reorganization Documents constitute the entire agreement between the parties with respect to the subject matter of this Agreement and supersede all prior agreements and understandings, both oral and written, between the parties with respect to the subject matter of this Agreement.&#160; Nothing in this Agreement shall create any third-party beneficiary rights in favor of any Person or other party, except to the extent provided herein with respect to Indemnitee-Related Entities, each of whom are intended third-party beneficiaries of those provisions that specifically relate to them with the right to enforce such provisions as if they were a party hereto.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.09</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Severability</font></u><font size="2" style="font-size:10.0pt;">.&#160; If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction or other Governmental Authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party.&#160; Upon such a determination, the parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the fullest extent possible.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.10</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Amendment</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">This Agreement can be amended at any time and from time to time by the Managing Member; <u>provided</u>, in addition to the approval of the Managing Member, no amendment to this Agreement may:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">without the prior written consent of the SL Members, (x)&nbsp;adversely modify the limited liability of any SL Member set forth in Section&nbsp;5.01, Section&nbsp;5.02, Section&nbsp;5.04, Section&nbsp;5.05, Section&nbsp;5.06, Section&nbsp;6.02, Section&nbsp;6.05, Section&nbsp;10.01, Section&nbsp;10.02 or Section&nbsp;12.01, or otherwise modify in any material respect the limited liability of any SL Member, or adversely increase the liabilities or obligations (other than <i>de minimis</i> liabilities or obligations) of any SL Member, (y)&nbsp;adversely modify the Units (or the rights, preferences or privileges of the Units) then held the SL Members in any different or disproportionate manner to those then held by the Viola Members that, in any such case, is favorable to the Viola Members</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">57<a name="26867-3-NL-13_PB_57_153554_5335"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=61,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=723348,FOLIO='57',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-13_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 15:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">relative to the SL Members or (z)&nbsp;adversely modify the express rights of the SL Members set forth in Section&nbsp;3.01(a), Section&nbsp;3.03(c)(ii), Section&nbsp;3.03(d)(iii), Section&nbsp;3.04, Article&nbsp;IV, Section&nbsp;5.03(e), Section&nbsp;6.01, Section&nbsp;7.03(b), Section&nbsp;7.07, Section&nbsp;9.04 and this Section&nbsp;12.10 (in the case of clause (z), only so long as the SL Members are entitled to such express rights);</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">without the prior written consent of the Temasek Equityholders, (x)&nbsp;adversely modify the limited liability of any Temasek Equityholder set forth in Section&nbsp;10.01, Section&nbsp;10.02 or Section&nbsp;12.01, or otherwise modify in any material respect the limited liability of any Temasek Equityholder, or adversely increase the liabilities or obligations (other than <i>de minimis</i> liabilities or obligations) of any Temasek Equityholder or (y)&nbsp;adversely modify the express rights of the Temasek Equityholders set forth in Section&nbsp;3.01(a), Section&nbsp;3.03(c)(ii), Section&nbsp;3.03(d)(iii), Section&nbsp;3.04, Article&nbsp;IV, Section&nbsp;7.03(b), Section&nbsp;7.07, Section&nbsp;9.04 and this Section&nbsp;12.10 (in the case of clause (y), only so long as the Temasek Equityholders are entitled to such express rights);</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">without the prior written consent of the Viola Members, (x)&nbsp;adversely modify the limited liability of any Viola Member set forth in Section&nbsp;5.01, Section&nbsp;5.02, Section&nbsp;5.04, Section&nbsp;5.05, Section&nbsp;5.06, Section&nbsp;6.02, Section&nbsp;6.05, Article&nbsp;X or Section&nbsp;12.01, or otherwise modify in any material respect the limited liability of any Viola Member, or adversely increase the liabilities or obligations (other than <i>de minimis</i> liabilities or obligations) of any Viola Member, (y)&nbsp;adversely modify the Units (or the rights, preferences or privileges of the Units) then held the Viola Members in any different or disproportionate manner to those then held by the SL Members that, in any such case, is favorable to the SL Members relative to the Viola Members or (z)&nbsp;adversely modify the express rights of the Viola Members set forth in Section&nbsp;3.01(a), Section&nbsp;3.03(c)(ii), Section&nbsp;3.03(d)(iii), Section&nbsp;3.04, Article&nbsp;IV, Section&nbsp;7.03(b), Section&nbsp;7.07, Section&nbsp;9.04 and this Section&nbsp;12.10 (in the case of clause (z), only so long as the Viola Members are entitled to such express rights); or</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">adversely modify in any material respect the Units (or the rights, preferences or privileges of the Units) then held by any Members in any materially disproportionate manner to those then held by any other Members </font><font size="2" style="font-size:10.0pt;">without the prior written consent of a majority in interest of such disproportionately affected Member or Members.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">For the avoidance of doubt: (i)&nbsp;the Managing Member, acting alone, may amend this Agreement, including the Member Schedule, (x)&nbsp;to reflect the admission of new Members or Transfers of Units, each as provided by and in accordance with, the terms of this Agreement, (y)&nbsp;to effect any subdivisions or combinations of Units made in compliance with Section&nbsp;4.02(c)&nbsp;and (z)&nbsp;to issue additional Common Units or any new class of Units (whether or not pari passu with the Common Units) in accordance with the terms of this Agreement and to provide that the Members being issued such new Units be entitled to the rights provided to the SL Members, Temasek Equityholders and/or the Viola Members with respect to all or a portion of the provisions applicable thereto hereunder and any other rights that do not</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">58<a name="26867-3-NL-13_PB_58_153616_5796"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=62,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=616018,FOLIO='58',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-13_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 15:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">diminish or eliminate any of the express rights of the SL Members, Temasek Equityholders and/or the Viola Members described in Section&nbsp;12.10(a)(i)(z), Section&nbsp;12.10(a)(ii)(y)&nbsp;or Section&nbsp;12.10(a)(iii)(z), as the case may be; and (ii)&nbsp;any merger, consolidation or other business combination that constitutes a Disposition Event (as such term is defined in the certificate of incorporation of Pubco) in which the Non-Pubco Members are required to exchange all of their Paired Interests pursuant to Section&nbsp;2.03(c)&nbsp;of the Exchange Agreement and receive consideration in such Disposition Event in accordance with the terms of this Agreement and the Exchange Agreement as in effect immediately prior to the consummation of such Disposition Event shall not be deemed an amendment hereof; <u>provided</u>, that such amendment is only effective upon consummation of such Disposition Event.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">No waiver of any provision or default under, nor consent to any exception to, the terms of this Agreement or any agreement contemplated hereby shall be effective unless in writing and signed by the party to be bound and then only to the specific purpose, extent and instance so provided.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.11</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Confidentiality</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Each SL Equityholder, Temasek Equityholder and each other Member (collectively the &#147;<u>Equityholders</u>&#148;) shall, and shall direct those of its Affiliates and their respective directors, officers, members, stockholders, partners, employees, attorneys, accountants, consultants, trustees and other advisors (the &#147;<u>Equityholder Parties</u>&#148;) who have access to Confidential Information to, keep confidential and not disclose any Confidential Information to any Person other than a Equityholder Party who agrees to keep such Confidential Information confidential in accordance with this Section&nbsp;12.11, in each case without the express consent, in the case of Confidential Information acquired from the Company, of the Managing Member or, in the case of Confidential Information acquired from another Equityholder, such other Equityholder, unless:</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">such disclosure shall be required by Applicable Law;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">such disclosure is reasonably required in connection with any tax audit involving the Company or any Equityholder or its Affiliates;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">such disclosure is reasonably required in connection with any litigation against or involving the Company or any Equityholder;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">such disclosure is reasonably required in connection with any proposed Transfer of all or any part of such Member&#146;s Units in the Company; <u>provided</u> that with respect to any such use of any Confidential Information referred to in this clause (iv), advance notice must be given to the Managing Member so that it may require any proposed Transferee that is not a Member to enter into a confidentiality agreement with terms substantially similar to the terms of this Section&nbsp;12.11 (excluding this clause (iv)) prior to the disclosure of such Confidential Information; or</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">59<a name="26867-3-NL-13_PB_59_153726_2897"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=63,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=266536,FOLIO='59',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-13_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 15:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">such disclosure is of financial and other information of the type typically disclosed to limited partners and prospective investors in private equity funds and is made to the partners of, and/or prospective investors in, private equity Affiliates of the SL Members or Temasek Equityholders and such partner or prospective investor is bound by the confidentiality provisions of a customary non-disclosure agreement entered into with the disclosing party that covers the Confidential Information so disclosed.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Confidential Information</u>&#148; means any information related to the activities of the Company, the Equityholders and their respective Affiliates that an Equityholder may acquire from the Company or the Equityholders, other than information that (i)&nbsp;is already available through publicly available sources of information (other than as a result of disclosure by such Equityholder), (ii)&nbsp;was available to a Equityholder on a non-confidential basis prior to its disclosure to such Equityholder by the Company, or (iii)&nbsp;becomes available to a Equityholder on a non-confidential basis from a third party, provided such third party is not known by such Equityholder, after reasonable inquiry, to be bound by this Agreement or another confidentiality agreement with the Company.&#160; Such Confidential Information may include information that&nbsp;pertains or relates to the business and affairs of any other Equityholder or any other Company matters.&#160; Confidential Information may be used by a Equityholder and its Equityholder Parties only in connection with Company matters and in connection with the maintenance of its interest in the Company.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">In the event that any Equityholder or any Equityholder Parties of such Equityholder is required to disclose any of the Confidential Information, such Equityholder shall use reasonable efforts to provide the Company with prompt written notice so that the Company may seek a protective order or other appropriate remedy and/or waive compliance with the provisions of this Agreement, and such Equityholder shall use reasonable efforts to cooperate with the Company in any effort any such Person undertakes to obtain a protective order or other remedy.&#160; In the event that such protective order or other remedy is not obtained, or that the Company waives compliance with the provisions of this Section&nbsp;12.11, such Equityholder and its Equityholder Parties shall furnish only that portion of the Confidential Information that is legally required and shall exercise all reasonable efforts to obtain reasonably reliable assurance that the Confidential Information shall be accorded confidential treatment.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Notwithstanding anything in this Agreement to the contrary, each Equityholder may disclose to any persons the U.S. federal income tax treatment and tax structure of the Company and the transactions set out in the MTH Transaction Agreement, the Equity Redemption and Purchase Agreement and the Reorganization Agreement.&#160; For this purpose, &#147;tax structure&#148; is limited to any facts relevant to the U.S. federal income tax treatment of the Company and does not include information relating to the identity of the Company or any Equityholder.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.12</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Governing Law</font></u><font size="2" style="font-size:10.0pt;">.&#160; This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to the</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">60<a name="26867-3-NL-13_PB_60_153748_3020"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=64,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=117562,FOLIO='60',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-13_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 15:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">conflicts of law rules&nbsp;of such State that would result in the application of the laws of any other State.</font></p>
<p style="margin:0in 0in .0001pt;punctuation-wrap:simple;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">[signature pages&nbsp;follow]</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">61<a name="26867-3-NL-13_PB_61_153833_7748"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=65,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=532197,FOLIO='61',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-13_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 15:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IN WITNESS WHEREOF, the parties hereto have caused this Second Amended and Restated Limited Liability Company Agreement to be duly executed as of the day and year first written above.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIRTU   FINANCIAL LLC</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="45%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:45.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="45%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:45.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIRTU   FINANCIAL,&nbsp;INC.</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="45%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:45.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="45%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:45.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIRTU   FINANCIAL INTERMEDIATE </font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">HOLDINGS   LLC</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="45%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:45.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="45%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:45.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIRTU   FINANCIAL INTERMEDIATE </font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">HOLDINGS   II LLC</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="45%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:45.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="45%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:45.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Signature Page&nbsp;to the Third Amended and Restated</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Limited Liability Company Agreement of Virtu Financial LLC]</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=66,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=741384,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-13_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 15:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SL   EQUITYHOLDERS:</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SILVER   LAKE TECHNOLOGY </font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ASSOCIATES   III, L.P.</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   SLTA III (GP), L.L.C., its general </font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">partner</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   Silver Lake Group, L.L.C., its sole </font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">member</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:   Managing Member</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SLP   VIRTU INVESTORS, LLC</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   Silver Lake Partners III DE (AIV III),</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">L.P.,   its managing member</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   Silver Lake Technology Associates III,</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">L.P.,   its general partner</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   SLTA III (GP), L.L.C., its general</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">partner</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   Silver Lake Group, L.L.C., its sole</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">member</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:   Managing Member</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Signature Page&nbsp;to the Third Amended and Restated</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Limited Liability Company Agreement of Virtu Financial LLC]</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=67,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=851444,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-13_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 15:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SLP   III EW FEEDER I L.P.</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   Silver Lake Technology Associates III,</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">L.P.,   its general partner</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   SLTA III (GP), L.L.C., its general</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">partner</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:   Silver Lake Group, L.L.C., its sole</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">member</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:   Managing Member</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Signature Page&nbsp;to the Third Amended and Restated</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Limited Liability Company Agreement of Virtu Financial LLC]</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=68,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=729275,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-13_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 15:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIOLA   MEMBERS:</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">TJMT   HOLDINGS LLC</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="45%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:45.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="45%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:45.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Signature Page&nbsp;to the Third Amended and Restated</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Limited Liability Company Agreement of Virtu Financial LLC]</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=69,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=208208,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-13_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 15:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIRTU   EMPLOYEE HOLDCO LLC</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="45%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:45.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="45%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:45.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Signature Page&nbsp;to the Third Amended and Restated</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Limited Liability Company Agreement of Virtu Financial LLC]</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=70,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=588500,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-13_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 15:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">DOUGLAS   A. CIFU</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">[OTHER   MEMBERS]</font></b></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Signature Page&nbsp;to the Third Amended and Restated</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Limited Liability Company Agreement of Virtu Financial LLC]</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=71,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=56228,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-13_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 15:56 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">TEMASEK   EQUITYHOLDER:</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">HAVELOCK FUND INVESTMENTS<br>   PTE LTD.</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="45%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:45.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="45%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:45.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For notices and communications:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Temasek Holdings (Private) Limited</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font><font size="2" style="font-size:10.0pt;">&#160;Floor, 375 Park Avenue</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New York, NY 10152</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention: Mukul Chawla</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Temasek Holdings (Private) Limited</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">60b Orchard Road</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">#06-18 Tower 2</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Atrium@Orchard</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Singapore 238891</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention: Pradyumna Agrawal</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Email: pradyumna@temasek.com.sg</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">with a copy, which shall not constitute notice, to:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cravath, Swaine&nbsp;&amp; Moore LLP</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">825 Eighth Avenue</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New York, NY 10019</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Telephone: (212) 474-1000</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile: (212) 474-3700</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention: Damien R. Zoubek and Ting S. Chen</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Signature Page&nbsp;to the Third Amended and Restated<br> Limited Liability Company Agreement of Virtu Financial LLC]</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=72,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="7",CHK=159535,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NL-13_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 15:56 2015' -->

<BR>
<!-- TOCEXISTFLAG -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.10
<SEQUENCE>8
<FILENAME>a2223212zex-10_10.htm
<DESCRIPTION>EX-10.10
<TEXT>
<HTML>
<HEAD>
</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>
<div>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 10.10</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">of</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIRTU EMPLOYEE HOLDCO LLC</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dated as of [&nbsp;&nbsp;&nbsp;&nbsp;], 2015</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=1,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=34799,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:09 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">TABLE OF CONTENTS</font></u></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="14%" valign="bottom" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="80%" valign="bottom" style="padding:0in 0in 0in 0in;width:80.08%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="5%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:5.58%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Page</font></b></p>    </td>   </tr>
<tr>
<td width="94%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:94.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE I DEFINITIONS AND USAGE</font></p>    </td>
<td width="5%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 1.01</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Definitions</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 1.02</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Other Definitional and Interpretative Provisions</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="94%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:94.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE II THE COMPANY</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 2.01</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Formation</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 2.02</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 2.03</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Term</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 2.04</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Registered Agent and Registered Office</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 2.05</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Purposes</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 2.06</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Powers of the Company</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 2.07</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Partnership Tax Status</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 2.08</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Regulation of Internal Affairs</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 2.09</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ownership of Property</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="94%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:94.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE III MEMBERS; BOOKS AND   RECORDS; REPORTS</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 3.01</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Admission of Members</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 3.02</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Substitute Members and Additional Members</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 3.03</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Tax and Accounting Information</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 3.04</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Books and Records</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="94%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:94.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE IV ADDITIONAL ISSUANCES   OF UNITS</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 4.01</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Additional Issuances of Units</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="94%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:94.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE V CAPITAL CONTRIBUTIONS; CAPITAL   ACCOUNTS; DISTRIBUTIONS; ALLOCATIONS</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>    </td>   </tr>
<tr>
<td width="94%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:94.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 5.01</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Capital Contributions</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 5.02</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Capital Accounts</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 5.03</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amounts and Priority of Distributions</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 5.04</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Allocations</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 5.05</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Other Allocation Rules</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 5.06</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Tax Withholding; Withholding Advances</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="94%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:94.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE VI CERTAIN TAX MATTERS</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22</font></p>    </td>   </tr>
<tr>
<td width="94%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:94.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 6.01</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Tax Matters Partner</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 6.02</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;754 Election</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 6.03</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RESERVED</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 6.04</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RESERVED</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 6.05</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Debt Allocation</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">i<a name="26867-3-NN-01_PB_i_162006_7608"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=2,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=548936,FOLIO='i',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:09 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="94%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:94.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE VII MANAGEMENT OF THE   COMPANY</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22</font></p>    </td>   </tr>
<tr>
<td width="94%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:94.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 7.01</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Management by the Manager</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 7.02</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Withdrawal or Removal of the Manager</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 7.03</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Decisions by the Members</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 7.04</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RESERVED</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 7.05</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RESERVED</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 7.06</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RESERVED</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 7.07</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WAIVER OF FIDUCIARY DUTIES</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 7.08</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Officers</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="94%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:94.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE VIII TRANSFERS OF   INTERESTS</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">25</font></p>    </td>   </tr>
<tr>
<td width="94%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:94.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 8.01</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Restrictions on Transfers</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">25</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 8.02</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exchange Elections</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 8.03</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RESERVED</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">27</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 8.04</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RESERVED</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">27</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 8.05</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RESERVED</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">27</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 8.06</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Registration of Transfers</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">27</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="94%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:94.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE IX CERTAIN OTHER   AGREEMENTS</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">27</font></p>    </td>   </tr>
<tr>
<td width="94%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:94.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 9.01</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Underwriter Lock-Up Agreements</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">27</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 9.02</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RESERVED</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">27</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 9.03</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RESERVED</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">27</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 9.04</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Non-Compete; Non-Solicitation</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">27</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 9.05</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Company Call Right</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">29</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 9.06</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RESERVED</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">31</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 9.07</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RESERVED</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">31</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 9.08</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Termination of Certain Provisions</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">31</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 9.09</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Holdco</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">31</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="94%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:94.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE X LIMITATION ON   LIABILITY, EXCULPATION AND INDEMNIFICATION</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">31</font></p>    </td>   </tr>
<tr>
<td width="94%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:94.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 10.01</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Limitation on Liability</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">31</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 10.02</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exculpation and Indemnification</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">32</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="94%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:94.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE XI DISSOLUTION AND   TERMINATION</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">34</font></p>    </td>   </tr>
<tr>
<td width="94%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:94.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 11.01</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dissolution</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">34</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 11.02</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Winding Up of the Company</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">35</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 11.03</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Termination</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">36</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 11.04</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Survival</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">36</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="94%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:94.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE XII MISCELLANEOUS</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">36</font></p>    </td>   </tr>
<tr>
<td width="94%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:94.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 12.01</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Expenses</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">36</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 12.02</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Further Assurances</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">36</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 12.03</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notices</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">36</font></p>    </td>   </tr>
<tr>
<td width="14%" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 12.04</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Binding Effect; Benefit; Assignment</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">37</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ii<a name="26867-3-NN-01_PB_ii_162048_8146"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=3,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=695312,FOLIO='ii',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:09 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 12.05</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Jurisdiction</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">37</font></p>    </td>   </tr>
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 12.06</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WAIVER OF JURY TRIAL</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">38</font></p>    </td>   </tr>
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 12.07</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Counterparts</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">38</font></p>    </td>   </tr>
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 12.08</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Entire Agreement</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">38</font></p>    </td>   </tr>
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 12.09</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Severability</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">38</font></p>    </td>   </tr>
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 12.10</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amendment</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">38</font></p>    </td>   </tr>
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 12.11</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Confidentiality</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">39</font></p>    </td>   </tr>
<tr>
<td width="14%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:14.34%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 12.12</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Governing Law</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40</font></p>    </td>   </tr>
<tr>
<td width="94%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:94.42%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exhibit   A </font></p>    </td>
<td width="84%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:84.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form   of Exchange Election</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exhibit   B</font></p>    </td>
<td width="84%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:84.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Lock-Up   Restrictions</font></p>    </td>
<td width="5%" valign="bottom" style="padding:0in 0in 0in 0in;width:5.58%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr height="0">
<td width="78" style="border:none;"></td>
<td width="29" style="border:none;"></td>
<td width="599" style="border:none;"></td>
<td width="42" style="border:none;"></td>   </tr> </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">iii<a name="26867-3-NN-01_PB_iii_162059_7091"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=4,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=358881,FOLIO='iii',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:09 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT (this &#147;<u>Agreement</u>&#148;) OF VIRTU EMPLOYEE HOLDCO LLC, a Delaware limited liability company (the &#147;<u>Company</u>&#148;), dated as of [&nbsp;&nbsp;&nbsp;&nbsp;], 2015, by and among the Company, the Members (as defined below), Vincent Viola, an individual (&#147;<u>Viola</u>&#148;), as the initial Manager, and Virtu Financial LLC, a Delaware limited liability company (&#147;<u>Holdco</u>&#148;). </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">W I T N E S S E T H </font><font size="2" style="font-size:10.0pt;">: </font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS the Company has been heretofore formed as a limited liability company under the Delaware Act (as defined below) pursuant to a certificate of formation which was executed and filed with the Secretary of State of the State of Delaware on June 24, 2011; </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the Company, the initial Members of the Company and SLP Virtu Investors, LLC, a Delaware limited liability company, previously entered into the initial Limited Liability Company Agreement of the Company, dated as of July 8, 2011, as amended by Amendment No.1 on December 28, 2011 and Amendment No. 2 on May 1, 2013 (the &#147;<u>Initial LLC Agreement</u>&#148;); </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, pursuant to the Amended and Restated Limited Liability Company Agreement of Holdco, dated as of April 17, 2011, and effective as of July 8, 2011, by and among Holdco and the members thereof, as amended by Amendment No. 1, dated as of July&nbsp;8, 2011, Amendment No. 2, dated as of December&nbsp;28, 2011, Amendment No. 3, dated as of May 1, 2013, and Amendment No. 4, dated as of November 8, 2013 (as amended and restated by the Second Amended and Restated Limited Liability Company Agreement of Holdco, dated and effective as of December 31, 2014) (the &#147;<u>Second A&amp;R LLC Agreement</u>&#148;), Holdco has previously issued Class A-2 Profits Interests of Holdco (&#147;<u>Holdco Class A-2 Profits Interests</u>&#148;) and Class B Interests of Holdco (&#147;<u>Holdco Class B Interests</u>&#148;) to the Company on the terms and subject to the conditions set forth therein; </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, pursuant to certain letters and notices of grant or issuance, by and between each of the Members, on the one hand, and the Company, on the other hand (the &#147;<u>Grants</u>&#148;), each Member has previously been awarded the right to receive Class A-2 Profits Interests and/or Class B Interests (each as defined below) that correspond to Holdco Class A-2 Profits Interests and/or Holdco Class B Interests, as the case may be, held by the Company, in each case, on the terms and subject to the conditions set forth therein; </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, pursuant to the Liquidation Agreement, dated as of the date hereof, by and among Virtu East MIP LLC, a Delaware limited liability company (&#147;<u>East MIP</u>&#148;), Holdco, the members of East MIP and the Company (the &#147;<u>East MIP Liquidation Agreement</u>&#148;), among other things, (i) East MIP has contributed to the Company certain Holdco Class A-2 Capital Interests in exchange for an equal number of Class A-2 Capital Interests of the Company and, (ii) East MIP has distributed such Class A-2 Capital Interests to certain Members.&#160; </font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=5,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=1043782,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:09 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, pursuant to the terms of the Reorganization Agreement (the &#147;<u>Reorganization Agreement</u>&#148;), dated as of the date hereof, by and among the Company, Holdco, Virtu Financial, Inc., a Delaware corporation (&#147;<u>Pubco</u>&#148;), and the other Persons listed on the signature pages thereto, the parties thereto have agreed to consummate the reorganization of Holdco contemplated by Section 9.01 of the Second A&amp;R LLC Agreement and to take the other actions contemplated in such Reorganization Agreement (collectively, the &#147;<u>Reorganization</u>&#148;); and </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, effective upon the Reorganization, pursuant to Section [2.1(b)(vi)] of the Reorganization Agreement, Holdco adopted the Third Amended and Restated Limited Liability Company Agreement of Holdco, dated as of the date hereof (as the same may be amended from time to time, the &#147;<u>Holdco LLC Agreement</u>&#148;), whereby, among other things, Holdco reclassified each Holdco Class A-2 Capital Interest, Holdco Class A-2 Profits Interest and Holdco Class B Interest outstanding immediately prior to the Reorganization into Common Units of Holdco (&#147;<u>Holdco Common Units</u>&#148;). </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NOW, THEREFORE, in consideration of the mutual covenants and agreements herein made and other good and valuable consideration, the parties hereto hereby agree to amend and restate the Initial LLC Agreement in its entirety as follows: </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE I </font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DEFINITIONS AND USAGE </font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 1.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Definitions</font></u><font size="2" style="font-size:10.0pt;">. </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The following terms shall have the following meanings for the purposes of this Agreement: </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Additional Member</u>&#148; means any Person admitted as a Member of the Company pursuant to Section 3.02 in connection with the new issuance of Units to such Person. </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;&#147;<u>Affiliate</u>&#148; means, with respect to any Person, any other Person directly or indirectly controlling, controlled by, or under common control with such Person; <u>provided</u> that no Member nor any Affiliate of any Member shall be deemed to be an Affiliate of any other Member or any of its Affiliates solely by virtue of such Members&#146; Units. </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Agreement</u>&#148; means this Limited Liability Company Agreement of the Company, as the same may be amended from time to time. </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Algorithmic Liquidity Trading</u>&#148; means trading Financial Assets through the use of an electronically automated trading system that generates order sets (which, for purposes of clarity, can consist of a single order) with the intention of (i)&nbsp;creating profit by providing two-sided liquidity to the market, (ii)&nbsp;making a profit margin consistent with &#160;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2<a name="26867-3-NN-01_PB_2_172039_7056"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=6,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=665199,FOLIO='2',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:09 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the business of making the bid-offer spread or less per unit of the Financial Asset(s) being traded (including by providing either one-sided or two sided liquidity to the market) or (iii)&nbsp;creating Simultaneous order sets that are generated with the intention of locking in an Arbitrage profit.&#160; For the avoidance of doubt, &#147;Algorithmic Liquidity Trading&#148; does not include trading in which an Order or Orders are manually generated and submitted for execution by a natural person (including, without limitation, Stop Orders, Limit Orders, Volume-Weighted Average Price Orders and other common Order types that may involve multiple instructions to a third party and which may involve such third party employing an algorithm in executing the Order provided the algorithm executes only on one side of the market as a &#147;buy&#148; or &#147;sell&#148; Order, and including a portfolio-rebalancing Order (which for the avoidance of doubt may involve both a &#147;buy&#148; and a &#147;sell&#148; component within a single Order)).&#160; </font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Applicable Law</u>&#148; means, with respect to any Person, any federal, state or local law (statutory, common or otherwise), constitution, treaty, convention, ordinance, code, rule, regulation, order, injunction, judgment, decree, ruling or other similar requirement enacted, adopted, promulgated or applied by a Governmental Authority or Regulatory Agency that is binding upon or applicable to such Person or its assets, as amended unless expressly specified otherwise. </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Arbitrage</u>&#148; means arbitrage consistent with the practice of high frequency trading. </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Business Day</u>&#148; means a day, other than Saturday, Sunday or other day on which commercial banks in New&nbsp;York, New&nbsp;York are authorized or required by Applicable Law to close. </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Capital Account</u>&#148; means the capital account established and maintained for each Member pursuant to Section 5.02. </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Capital Contribution</u>&#148; means, with respect to any Member, the amount contributed to the Company by such Member equal to the &#147;Capital Contribution&#148; (if any, and as defined in the Holdco LLC Agreement) contributed by the Company to Holdco with respect to the Attributable Units held or purchased by the Company on behalf of such Member. </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Class A-2 Capital Interests</u>&#148; means Class A-2 limited liability company capital interests of the Company.&#160; Pursuant to the East MIP Liquidation Agreement, (i) such Class A-2 Capital Interests were issued to East MIP in consideration for the contribution of Holdco Class A-2 Capital Interests and (ii) subsequently distributed to certain Members who were Class B Members of East MIP.&#160; Each Holdco Class A-2 Capital Interest so contributed to the Company shall be deemed to be the Attributable Interest (as such term was defined in the Initial LLC Agreement) of one Company Class A-2 Capital Interest so distributed by the Company pursuant to the East MIP Liquidation Agreement.&#160; All Class A-2 Capital Interests have been reclassified into Common Units pursuant to the Reorganization Agreement and this Agreement.&#160; </font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3<a name="26867-3-NN-01_PB_3_172051_5335"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=7,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=297343,FOLIO='3',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:09 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Class A-2 Profits Interests</u>&#148; means Class&nbsp;A-2 Profits Interests (as such term was defined in the Initial LLC Agreement), all of which have been reclassified into Common Units pursuant to the Reorganization Agreement and this Agreement. </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Class B Interests</u>&#148; means Class&nbsp;B Profits Interests (as such term was defined in the Initial LLC Agreement), all of which have been reclassified into Common Units pursuant to the Reorganization Agreement and this Agreement. </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Code</u>&#148; means the Internal Revenue Code of 1986, as amended from time to time. </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Common Unit</u>&#148; means a common limited liability company interest in the Company that corresponds to a Holdco Common Unit issued by Holdco to the Company for the benefit of such Member. </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Competitive Activity</u>&#148; means (i)&nbsp;serving as a director, officer, employee, trader, manager, consultant, agent or advisor of, or otherwise directly or through an Affiliate providing services to a Competitive Enterprise; (ii)&nbsp;designing or developing any Competitive Technology; (iii)&nbsp;directly or through an Affiliate (A)&nbsp;engaging in Strategy Competition or (B)&nbsp;retaining or otherwise engaging any other Person to undertake any of the actions described in clauses (i), (ii), (iii)(A) or (iv)&nbsp;of this definition; (iv)&nbsp;serving as a director, officer, employee, trader, manager, consultant, agent or advisor of, or otherwise directly or through an Affiliate providing services to any business, financial institution, investment bank or other business enterprise (in any form, including without limitation as a corporation, partnership, limited liability company or other Person) that is, or whose Affiliate is, engaged in Strategy Competition, in each case except in a capacity that does not involve or require the Member to engage in any activities described in clauses (i), (ii)&nbsp;or (iii)&nbsp;of this definition above or have any direct management oversight of or involvement in Strategy Competition; (v)&nbsp;acquiring directly or through an Affiliate in the aggregate directly or beneficially, whether as a shareholder, partner, member or otherwise, any equity (including stock options or warrants, whether or not exercisable), voting or profit participation interests (collectively, &#147;<u>Ownership Interests</u>&#148;) in a Competitive Enterprise, or any derivative where the reference asset is an Ownership Interest in a Competitive Enterprise, other than a passive investment of not more than, as calculated at the time of acquisition (but after giving effect to any transaction or transactions to occur in connection with such acquisition), 1% (measured by voting power or value, whichever is greater) of the fully diluted Ownership Interests of a Competitive Enterprise (for the avoidance of doubt, such percentage interest shall be calculated based on the Member&#146;s percentage of direct and indirect ownership of the Competitive Enterprise and not any intermediary, such as a holding company or partnership) (it being understood that this clause (v)&nbsp;shall not apply to prohibit the holding of an Ownership Interest if, at the time of acquisition of such Ownership Interest, the Person in which such direct or indirect Ownership Interest is acquired is not a Competitive Enterprise and the Member is not aware at the time of such acquisition, after reasonable inquiry, that such Person has any plans to become a Competitive Enterprise); or (vi)&nbsp;directly or through an Affiliate owning any Ownership Interests in any Person &#160;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4<a name="26867-3-NN-01_PB_4_172101_5796"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=8,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=590159,FOLIO='4',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:09 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">listed in Schedule A (or any parent company or entity of a Person listed in Schedule A or any successors thereto, other than a parent company or entity that is not a Competitive Enterprise) (a &#147;<u>Restricted Investment</u>&#148;), or any derivative where the reference asset is an Ownership Interest in a Restricted Investment, except to the extent such Ownership Interests or derivatives are held through an index fund, an exchange traded fund, a mutual fund, hedge fund, or other form of collective investment or fund, or through a managed account, in each case, where a third party that is not affiliated with the Member exercises sole investment discretion in respect of such fund or account and such third party has not disclosed at the time Member makes his or its investment that it holds or intends to hold any Ownership Interests in a Restricted Investment.&#160; </font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Competitive Enterprise</u>&#148; means any Person or business enterprise (in any form, including without limitation as a corporation, partnership, limited liability company or other Person), or subsidiary, division, unit, group or portion thereof, whose primary business is (A)&nbsp;engaging in Strategy Competition; or (B)&nbsp;engaging in any other business in which Holdco or any of its Subsidiaries engages in a material way, or has concrete plans to engage in a material way as of the Relevant Date, in each case as reasonably determined by the Manager.&#160; For the sake of clarity, in the case of a subsidiary, division, unit, group or portion whose primary business is described above: (1)&nbsp;the larger business enterprise or Person owning such subsidiary, division, unit, group or portion shall not be deemed to be a Competitive Enterprise unless the primary business of such larger business enterprise or Person is engaged in Strategy Competition and (2)&nbsp;the subsidiary, division, unit, group or portion whose primary business is engaging in Strategy Competition shall be deemed a Competitive Enterprise. </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Competitive Technology</u>&#148; means any system, program, hardware or software (including any network architecture, system architecture, messaging architecture, trade processing and clearing systems and architecture, database architecture and storage of market and trading data for purposes of statistical analysis, network infrastructure, market data processing and messaging types that support such market data processing, order processing or any other software or hardware): (a)&nbsp;only if developed for one or more financial institution(s) or designed primarily for use by, or sale or license to, one or more financial institutions, is (i)&nbsp;used (or will be used in the future in its current or any enhanced or modified form) in Strategy Competition to evaluate, route or execute orders or trades in any Financial Asset or (ii)&nbsp;used (or will be used in the future in its current or any enhanced or modified form) in Strategy Competition for the efficient processing and dissemination of market data or messaging for Financial Assets, or (b)&nbsp;in any case, is specifically designed or intended for use in Strategy Competition. </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Control</u>&#148; (including the terms &#147;<u>controlling</u>&#148; and &#147;<u>controlled</u>&#148;), with respect to the relationship between or among two or more Persons, means the possession, directly or indirectly, of the power to direct or cause the direction of the affairs or management of such subject Person, whether through the ownership of voting securities, as trustee or executor, by contract or otherwise.&#160; </font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5<a name="26867-3-NN-01_PB_5_172112_2897"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=9,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=266987,FOLIO='5',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:09 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Covered Person</u>&#148; means (i)&nbsp;each Member or an Affiliate thereof, in each case in such capacity, (ii)&nbsp;each officer, director, shareholder, member, partner, employee, representative, agent or trustee of a Member or an Affiliate thereof, in all cases in such capacity, (iii)&nbsp;each officer, director, shareholder, member, partner, employee, representative, agent or trustee of Holdco, the managing member of Holdco, Pubco (in the event Pubco is not the managing member of Holdco), the Company or an Affiliate controlled thereby, (iv) the Manager and (v) Holdco, in all cases in such capacity. </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Delaware Act</u>&#148; means the Delaware Limited Liability Company Act, 6&nbsp;Del. C.&nbsp;&#167;&#167;&nbsp;18-101 <u>et seq</u>. </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Disposition Event</u>&#148; has the meaning set forth in the certificate of incorporation of Pubco. </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Employee Equity Letters</u>&#148; means those certain Unit Vesting, Equity Retention and Restrictive Covenant Agreements by and between Pubco, Holdco and/or the Members, in each case dated as of the date hereof. </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Equity Purchase Agreement</u>s&#148; means (i) the Purchase Agreement by and among Pubco, the Company and certain other members of Holdco and (ii) the Redemption Agreement by and among the Company and certain Members, in each case dated as of the date hereof. </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Equity Securities</u>&#148; means, with respect to any Person, any (i)&nbsp;membership interests or shares of capital stock, (ii)&nbsp;equity, ownership, voting, profit or participation interests or (iii)&nbsp;similar rights or securities in such Person or any of its Subsidiaries, or any rights or securities convertible into or exchangeable for, options or other rights to acquire from such Person or any of its Subsidiaries, or obligation on the part of such Person or any of its Subsidiaries to issue, any of the foregoing. </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Exchange Act</u>&#148; means the Securities Exchange Act of 1934, as amended. </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Exchange Agreement</u>&#148; means the Exchange Agreement, dated as of the date hereof, by and among Pubco, Holdco, the Company and the other holders of Common Units and shares of Class C Common Stock and Class D Common Stock from time to time party thereto. </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Financial Asset</u>&#148; means commodities, currencies, equities, notes, bonds, securities, evidence of indebtedness and derivatives thereof. </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>FINRA</u>&#148; means the Financial Industry Regulatory Authority, Inc. </font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Fiscal Year</u>&#148; means the Company&#146;s fiscal year, which shall initially be the calendar year and which may be changed from time to time as determined by the Manager.&#160; </font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6<a name="26867-3-NN-01_PB_6_172123_3020"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=10,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=541178,FOLIO='6',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-01_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:09 2015' -->

<div>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Form&nbsp;8-A Effective Time</u>&#148; has the meaning set forth in the Reorganization Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Governmental Authority</u>&#148; means any transnational, domestic or foreign federal, state or local governmental, regulatory or administrative authority, department, court, agency or official, including any political subdivision thereof.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Holdco IPO</u>&#148; means the initial underwritten public offering of Pubco.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Holdco Percentage Interest</u>&#148; means &#147;Percentage Interest&#148; (as such term is defined in the Holdco LLC Agreement).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Holdco Units</u>&#148; means Holdco Common Units and any other Equity Securities of Holdco held by the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Involuntary Transfer</u>&#148; means any Transfer of Units by a Member resulting from (i)&nbsp;any seizure under levy of attachment or execution, (ii)&nbsp;any bankruptcy (whether voluntary or involuntary), (iii)&nbsp;any Transfer to a state or to a public officer or agency pursuant to any statute pertaining to escheat or abandoned property, (iv)&nbsp;any divorce or separation agreement or a final decree of a court in a divorce action or (v)&nbsp;death or permanent disability.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Jaguar Trading</u>&#148; means trading through the use of electronically automated means to analyze and act upon Economic Numerical Data (i.e., economic data released by government agencies, quasi-governmental agencies, or industry groups commonly tracked by investors (e.g., ADP or Gallup employment data, the Michigan Consumer Sentiment Index and National Association of Realtors home-sale data)) with the intent to enter a position within two seconds after the public (or equivalent) release of such economic numerical data, including by using models and algorithms to predict the effect on prices of such economic numerical data.&#160; Economic Numerical Data does not include financial instrument price and volume data.&#160; Jaguar Trading does not include trading in which each instruction to acquire or dispose of a specified quantity of a single instrument is individually manually generated and submitted for execution by a natural person (and not by any algorithmic means), even if such Order is executed within two seconds after the release of such economic numerical data (for example, and without limitation, the execution of a previously placed Stop Order triggered after the release of economic numerical data).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Lien</u>&#148; means any pledge, encumbrance, security interest, purchase option, conditional sale agreement, call or similar right.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Limited Ownership Minimum</u>&#148; has the meaning set forth in the Holdco LLC Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Manager</u>&#148; means Viola so long as Viola has not withdrawn or been removed as the Manager pursuant to Section&nbsp;7.02.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7<a name="26867-3-NN-03_PB_7_172251_7748"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=11,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=105560,FOLIO='7',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:04 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Member</u>&#148; means any Person named as a Member of the Company on the Member Schedule&nbsp;and the books and records of the Company, as the same may be amended from time to time to reflect any Person admitted as an Additional Member or a Substitute Member, for so long as such Person continues to be a Member of the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>MIP</u>&#148; means the Virtu Financial LLC Management Incentive Plan, as the same may be amended from time to time.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Net Income</u>&#148; and &#147;<u>Net Loss</u>&#148; mean, for each Fiscal Year or other period,&#160;&#160; the &#147;Net Income&#148; and &#147;Net Loss&#148; (each term, as defined in the Holdco LLC Agreement) of the Company relating to the Attributable Units, as adjusted from time to time pursuant to the Holdco LLC Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Order</u>&#148; means an instruction to acquire or dispose of a specified quantity or amount of a Financial Asset.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Paired Interest</u>&#148; has the meaning set forth in the Exchange Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Percentage Interest</u>&#148; means, as of any time of determination with respect to any Member, the Holdco Percentage Interest relating to the Attributable Units of such Member, as adjusted from time to time pursuant to the Holdco LLC Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The sum of the outstanding Percentage Interests of all Members shall at all times equal the sum of the Holdco Percentage Interests attributable to the Holdco Units held by the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Person</u>&#148; means any individual, firm, corporation, partnership, limited liability company, trust, estate, joint venture, governmental authority or other entity.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Prime Rate</u>&#148; means the rate of interest from time to time identified by JP Morgan Chase, N.A. as being its &#147;prime&#148; or &#147;reference&#148; rate.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Property</u>&#148; means an interest of any kind in any real, personal or intellectual (or mixed) property, including cash, and any improvements thereto, and shall include both tangible and intangible property.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Pubco Board</u>&#148; means the board of directors of Pubco.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Pubco Common Stock</u>&#148; means all classes and series of common stock of Pubco, including the Class&nbsp;A Common Stock, Class&nbsp;B Common Stock, Class&nbsp;C Common Stock and Class&nbsp;D Common Stock.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Registration Rights Agreement</u>&#148; means the Registration Rights Agreement, dated as of the date hereof, by and among Pubco and the stockholders party thereto.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8<a name="26867-3-NN-03_PB_8_172323_141"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=12,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=732322,FOLIO='8',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:04 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Regulatory Agency</u>&#148; means the SEC, FINRA, the Financial Services Authority, any non-U.S. regulatory agency and any other regulatory authority or body (including any state or provincial securities authority and any self-regulatory organization) with jurisdiction over the Company, Holdco or any of Holdco&#146;s Subsidiaries.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Regulatory Disqualification</u>&#148; means, with respect to any Person, that Person being subject to (i)&nbsp;&#147;statutory disqualification&#148;, as such term is defined in the Exchange Act, or (ii)&nbsp;any other disqualification that would be a basis for censure, limitations on the activities, functions, or operations of, or suspension or revocation of any registration, license or permit of Holdco, the Company or any of their respective Affiliates by any Governmental Authority or Regulatory Agency.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Relative Percentage Interest</u>&#148; means, with respect to any Member relative to another Member or Members, a fractional amount, expressed as a percentage, the numerator of which is the Percentage Interest of such Member; and the denominator of which is (x)&nbsp;the Percentage Interest of such Member <u>plus</u> (y)&nbsp;the aggregate Percentage Interest of such other Member or Members.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Relevant Date</u>&#148; means, with respect to any Restricted Member, (i)&nbsp;for as long the Termination Date has not occurred with respect to such Restricted Member, the date that such Restricted Member engages in any activity that is prohibited by Section&nbsp;9.04 and (ii)&nbsp;if the Termination Date has occurred with respect to such Restricted Member, such Termination Date.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Reorganization Documents</u>&#148; means the Reorganization Agreement, this Agreement, the Holdco LLC Agreement, the Tax Receivable Agreement, the Exchange Agreement, the Registration Rights Agreement, the Employee Equity Letters, the MIP and the Equity Purchase Agreements.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Restricted Members</u>&#148; means&nbsp;the Members (regardless of whether or not such Persons continue to own Units) other than (i)&nbsp;any Persons identified on Schedule B(1)&nbsp;and (ii)&nbsp;any other Member who is a member of the Pubco Board but not otherwise an employee of Pubco, Holdco or any of their respective Controlled Affiliates.</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Separation Date</u>&#148; means (i)&nbsp;with respect to any Member that is an employee of Pubco, Holdco or any of their respective Controlled Affiliates, such Member&#146;s Termination Date or (ii)&nbsp;with respect to any Member that is a member of the Pubco Board but not otherwise an employee of Pubco, Holdco or any of their respective Controlled Affiliates, such time as the Member ceases to be a member of such board.</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="1" width="25%" noshade color="black" align="left"></div>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font></p>    </td>
<td width="95%" valign="bottom" style="padding:0in 0in 0in 0in;width:95.42%;">
<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Note   to Draft</font></u><font size="2" style="font-size:10.0pt;">: To include non-employee directors that have   previously been awarded Class&nbsp;A-2 Profits Interests.</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9<a name="26867-3-NN-03_PB_9_172402_7608"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=13,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=183972,FOLIO='9',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:04 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Simultaneous</u>&#148; means, with respect to more than one event, the occurrence of such events occurring within 500 milliseconds of each other.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>SL Member</u>&#148; has the meaning set forth in the Holdco LLC Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Strategy Competition</u>&#148; means (i)&nbsp;trading activities that utilize trading strategies that constitute Algorithmic Liquidity Trading or Jaguar Trading or (ii)&nbsp;any other strategy in which Holdco or any of its Subsidiaries engages in a material way or has concrete plans to engage in a material way as of the Relevant Date, in each case as reasonably determined by the Manager.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Subsidiary</u>&#148; means, with respect to any Person, any corporation, partnership, limited liability company, association, joint venture or other business entity of which more than 50% of the total voting power of Equity Securities or other ownership interests entitled (without regard to the occurrence of any contingency) to vote in the election of the Person or Persons (whether directors, managers, trustees or other Persons performing similar functions) having the power to direct or cause the direction of the management and policies thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Substitute Member</u>&#148; means any Person admitted as a Member of the Company pursuant to Section&nbsp;3.02 in connection with the Transfer of then-existing Units to such Person.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Tax Distribution</u>&#148; means any &#147;Tax Distribution&#148; (if any, and as defined in the Holdco LLC Agreement) made by the Company with respect to the Attributable Units.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Tax Receivable Agreement</u>&#148; means the Tax Receivable Agreement by and among Pubco, the Company and the other persons listed on the signature pages&nbsp;thereto, dated as of the date hereof.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Termination Date</u>&#148; means, with respect to any Restricted Member, the date such Restricted Member ceases to be employed by Pubco, Holdco or any of their respective Controlled Affiliates.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Transfer</u>&#148; means any sale, assignment, transfer, exchange, gift, bequest, pledge, hypothecation or other disposition or encumbrance, direct or indirect, in whole or in part, by operation of law or otherwise, and shall include all matters deemed to constitute a Transfer under Article&nbsp;VIII.&#160; The terms &#147;<u>Transferred</u>&#148;, &#147;<u>Transferring</u>&#148;, &#147;<u>Transferor</u>&#148;, &#147;<u>Transferee</u>&#148; and &#147;<u>Transferable</u>&#148; have meanings correlative to the foregoing.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Treasury Regulations</u>&#148; mean the regulations promulgated under the Code, as amended from time to time.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10<a name="26867-3-NN-03_PB_10_172415_8146"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=14,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=462395,FOLIO='10',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:04 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Units</u>&#148; means Common Units or any other class of limited liability interests in the Company designated by the Company after the date hereof in accordance with this Agreement; provided that any type, class or series of Units shall have the designations, preferences and/or special rights set forth or referenced in this Agreement, and the membership interests of the Company represented by such type, class or series of Units shall be determined in accordance with such designations, preferences and/or special rights.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Unvested Common Unit</u>&#148; means, on any date of determination, any Unit held by a Member that is not &#147;vested&#148; in accordance with the MIP and such Member&#146;s (or its direct or indirect Transferor&#146;s) applicable Employee Equity Letter.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Vested Common Unit</u>&#148; means, on any date of determination, any Unit held by a Member that is &#147;vested&#148; in accordance with the MIP and such Member&#146;s (or its direct or indirect Transferor&#146;s) applicable Employee Equity Letter.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<u>Viola Member</u>&#148; has the meaning set forth in the Holdco LLC Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Each of the following terms is defined in the Section&nbsp;set forth opposite such term:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="56%" style="border-collapse:collapse;width:56.66%;">
<tr>
<td width="60%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Term</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.84%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="35%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:35.3%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Section</font></b></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Agreement</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" style="padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attributable   Call Securities</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.05(a)</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attributable   Securities</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.01(a)</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" style="padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attributable   Shares</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.01(a)</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attributable   Units</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.01(a)</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" style="padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Call   Members</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.05(a)</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Call   Notice</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.05(a)</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" style="padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Call   Price</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.05(a)</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Call   Units</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.05(a)</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" style="padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Company</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Company   Note</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.05(c)</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" style="padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Company   Parties</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.04(b)</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Confidential   Information</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12.11(b)</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" style="padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Controlled   Entities</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.02(e)</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dissolution   Event</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11.01(c)</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" style="padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">e-mail</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12.03</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">East   MIP</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" style="padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">East   MIP Liquidation Agreement</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exchange   Election</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8.02(a)</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" style="padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Expenses</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.02(e)</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">GAAP</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.03(b)</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11<a name="26867-3-NN-03_PB_11_172531_7091"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=15,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=500595,FOLIO='11',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:04 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="56%" style="border-collapse:collapse;width:56.66%;">
<tr>
<td width="60%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Term</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.84%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="35%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:35.3%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Section</font></b></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Grants</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" style="padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Holdco</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Holdco   Class&nbsp;A-2 Capital Interests</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" style="padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Holdco   Class&nbsp;A-2 Profits Interests</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Holdco   Class&nbsp;B Interests</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" style="padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Holdco   Common Units</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Holdco   LLC Agreement</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" style="padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Indemnification   Sources</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.02(e)</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Indemnitee-Related   Entities</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.02(e)(i)</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" style="padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Initial   LLC Agreement</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Investment   Company Act</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8.01(c)</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" style="padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Jointly   Indemnifiable Claims</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.02(e)(ii)</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Member   Parties</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12.11(a)</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" style="padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Member   Schedule</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.01(b)</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Minimum   Annual Payment</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.05(e)</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" style="padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Officers</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.08(a)</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">PROCESS   AGENT</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12.05(b)</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" style="padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pubco</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Reorganization</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" style="padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Reorganization   Agreement</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Recitals</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;754   Election</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.02</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" style="padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Tax   Matters Partner</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.01</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Transferring   Member</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.02(b)</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" style="padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Viola</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" style="padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preamble</font></p>    </td>   </tr>
<tr>
<td width="60%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:60.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Withholding   Advances</font></p>    </td>
<td width="3%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:3.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="35%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:35.3%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.06(b)</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;1.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Other Definitional and Interpretative Provisions</font></u><font size="2" style="font-size:10.0pt;">.&#160; The words &#147;hereof&#148;, &#147;herein&#148; and &#147;hereunder&#148; and words of like import used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement.&#160; The captions herein are included for convenience of reference only and shall be ignored in the construction or interpretation hereof.&#160; References to Articles, Sections, Exhibits&nbsp;and Schedules&nbsp;are to Articles, Sections, Exhibits&nbsp;and Schedules&nbsp;of this Agreement unless otherwise specified.&#160; All Exhibits&nbsp;and Schedules&nbsp;annexed hereto or referred to herein are hereby incorporated in and made a part of this Agreement as if set forth in full herein.&#160; Any capitalized terms used in any Exhibit&nbsp;or Schedule&nbsp;but not otherwise defined therein, shall have the meaning as defined in this Agreement.&#160; Any singular term in this Agreement shall be deemed to include the plural, and any plural term the singular.&#160; Whenever the words &#147;include&#148;, &#147;includes&#148; or &#147;including&#148; are used in this Agreement, they shall be deemed to be followed by the words &#147;without limitation&#148;, whether or not they are in fact followed by those words or words of like import.&#160; &#147;Writing&#148;, &#147;written&#148; and comparable terms refer to printing, typing and other means of reproducing words (including electronic media) in a visible form.&#160; References to any statute shall be deemed to refer to such statute as amended from time to time and to any</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12<a name="26867-3-NN-03_PB_12_172601_455"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=16,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=433027,FOLIO='12',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:04 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">rules&nbsp;or regulations promulgated thereunder.&#160; References to any agreement or contract are to that agreement or contract as amended, modified or supplemented from time to time in accordance with the terms hereof and thereof.&#160; References to any Person include the successors and permitted assigns of that Person.&#160; References from or through any date mean, unless otherwise specified, from and including or through and including, respectively.&#160; References to &#147;law&#148;, &#147;laws&#148; or to a particular statute or law shall be deemed also to include any Applicable Law.&#160; As used in this Agreement, all references to &#147;majority in interest&#148; and phrases of similar import shall be deemed to refer to such percentage or fraction of interest based on the Relative Percentage Interests of the Members subject to such determination.&#160; Unless otherwise expressly provided herein, when any approval, consent or other matter requires any action or approval of any group of Members, including any holders of any class of Units, such approval, consent or other matter shall require the approval of a majority in interest of such group of Members. Except to the extent otherwise expressly provided herein, all references to any Member shall be deemed to refer solely to such Person in its capacity as such Member and not in any other capacity.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;II</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">THE COMPANY</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Formation</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Company was formed upon the filing of the certificate of formation of the Company with the Secretary of State of the State of Delaware on June&nbsp;24, 2011.&#160; The authorized officer or representative, as an &#147;authorized person&#148; within the meaning of the Delaware Act, shall file and record any amendments and/or restatements to the certificate of formation of the Company and such other certificates and documents (and any amendments or restatements thereof) as may be required under the laws of the State of Delaware and of any other jurisdiction in which the Company may conduct business.&#160; The authorized officer or representative shall, on request, provide any Member with copies of each such document as filed and recorded.&#160; The Members hereby agree that the Company shall be governed by the terms and conditions of this Agreement and, except as provided herein, the Delaware Act.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Name</font></u><font size="2" style="font-size:10.0pt;">.&#160; The name of the Company is &#147;Virtu Employee Holdco LLC.&#148;&#160; The Company&#146;s business may be conducted under any other name or names deemed advisable by the Manager.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Term</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Company shall have perpetual existence unless sooner dissolved and its affairs wound up as provided in Article&nbsp;XI.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.04</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Registered Agent and Registered Office</font></u><font size="2" style="font-size:10.0pt;">.&#160; The name of the registered agent of the Company for service of process on the Company in the State of Delaware shall be The Corporation Trust Company, and the address of such registered agent and the address of the registered office of the Company in the State of Delaware shall be Corporation Trust Center, 1209 Orange Street, Wilmington, New Castle County, Delaware 19801.&#160; Such office and such agent may be changed to such place within the</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13<a name="26867-3-NN-03_PB_13_172625_4141"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=17,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=725558,FOLIO='13',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:04 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">State of Delaware and any successor registered agent, respectively, as may be determined from time to time by the Manager in accordance with the Delaware Act.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.05</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Purposes</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Company has been formed for the object and purpose of, and the nature of the business to be conducted and promoted by the Company is to purchase, sell and hold Holdco Units, shares of Pubco Common Stock and any other Equity Securities of Holdco or Pubco and to carry on any other lawful act or activities consistent therewith and incidental thereto.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.06</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Powers of the Company</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Company shall have the power and authority to take any and all actions necessary, appropriate or advisable to or for the furtherance of the purposes set forth in Section&nbsp;2.05.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.07</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Partnership Tax Status</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Members intend that the Company shall be treated as a partnership for federal, state and local income tax purposes to the extent such treatment is available, and agree to take (or refrain from taking) such actions as may be necessary to receive and maintain such treatment and refrain from taking any actions inconsistent thereof.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.08</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Regulation of Internal Affairs</font></u><font size="2" style="font-size:10.0pt;">. The internal affairs of the Company and the conduct of its business shall be regulated by this Agreement, and to the extent not provided for herein, shall be determined by the Manager.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;2.09</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Ownership of Property</font></u><font size="2" style="font-size:10.0pt;">.&#160; Legal title to all Property, conveyed to, or held by the Company shall reside in the Company and shall be conveyed only in the name of the Company and no Member or any other Person, individually, shall have any ownership of such Property.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;III</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">MEMBERS; BOOKS AND RECORDS; REPORTS</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Admission of Members</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company has been established as a special purpose investment vehicle through which the Members indirectly hold Equity Securities in Holdco (the &#147;<u>Attributable Units</u>&#148;).&#160; Effective upon the Reorganization, pursuant to [Section&nbsp;2.1(b)(xviii)] of the Reorganization Agreement, the Company has hereby reclassified each Class&nbsp;A-2 Capital Interest, Class&nbsp;A-2 Profits Interest and Class&nbsp;B Interest outstanding as of immediately prior to the Form&nbsp;8-A Effective Time (as such term is defined in the Reorganization Agreement) into a number of Common Units equal to the number of Holdco Common Units into which such Class&nbsp;A-2 Capital Interest&#146;s, Class&nbsp;A-2 Profits Interest&#146;s or Class-B Interest&#146;s Attributable Interest (as each such term was defined in the Initial LLC Agreement), as the case may be, has been reclassified pursuant to Section&nbsp;2.1(b)(vi)&nbsp;of the Reorganization Agreement.&#160;&#160; In connection with such reclassification, Common Units reclassified from Class&nbsp;A-2 Capital Interests, Class&nbsp;A-2 Profits Interests or Class&nbsp;B Interests that were subject to vesting</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14<a name="26867-3-NN-03_PB_14_172647_8627"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=18,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=62253,FOLIO='14',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:04 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">restrictions immediately prior to the Reorganization have been hereby reclassified as Unvested Common Units on terms set forth in the Employee Equity Letters and the MIP.&#160; The number and terms of the Common Units held by the Members shall at all times be identical to the number and terms of the Attributable Units that correspond to such Common Units.&#160; In addition to such Attributable Units, the Company shall also hold for the benefit of such Member any corresponding shares of Pubco Common Stock constituting the remainder of any Paired Interests in which such Attributable Units are included (the &#147;<u>Attributable Shares</u>&#148; and, together with any Attributable Units, &#147;<u>Attributable Securities</u>&#148;).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">After giving effect to the reclassification described in the second sentence of this Section&nbsp;3.01(a), each of the Members owns the number of Common Units set forth opposite such Member&#146;s name on the schedule maintained by the Manager on behalf of the Company in accordance herewith (the &#147;<u>Member Schedule</u>&#148;).&#160; The Member Schedule shall also include the number and class of Attributable Securities corresponding to such Common Units.&#160; As soon as reasonably practicable following the execution of this Agreement, the Company shall provide written notice to each Member setting forth the Hypothetical Liquidation Value (as such term is defined in the Holdco LLC Agreement) attributable to such Member&#146;s Attributable Interests, the resulting number of Common Units then owned thereby and the number of Attributable Securities that correspond to such Common Units.&#160; The Member Schedule shall be maintained by the Manager on behalf of the Company in accordance with this Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">From time to time, as determined by the Manager in accordance with the MIP and subject to Section&nbsp;3.01 of the Holdco LLC Agreement, if Holdco and/or Pubco issues one or more series of Attributable Securities to the Company for the benefit of Persons employed by or otherwise performing services for Holdco or any of its Subsidiaries in accordance with the Holdco LLC Agreement, then the Company shall admit as a Member (if such Person is not already a Member) and issue to such Member Units that shall correspond to the Attributable Securities issued to the Company for the benefit of such Person.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">When any Attributable Units that have been issued to the Company for the benefit of any Person employed by or otherwise performing services for Holdco are issued, repurchased, redeemed, converted, changed or forfeited (including with respect to Percentage Interest) by Holdco in accordance with the Holdco LLC Agreement, (i)&nbsp;Pubco shall, to the extent applicable, issue, repurchase, redeem, convert, change or forfeit, as the case may be, any shares of Pubco Common Stock constituting the remainder of any Paired Interests in which such Attributable Units are included and (ii)&nbsp;the Company shall, except to the extent otherwise set forth herein, accordingly issue, repurchase, redeem, convert, change or forfeit, as the case may be, the Units to which such Attributable Securities correspond, and the Member Schedule&nbsp;shall be amended by the Manager to reflect such issuance, repurchase, redemption, conversion or change and the resulting Percentage Interest of each Member.&#160; The Company shall not issue, repurchase, redeem, convert, change or forfeit, as the case may be, any Units unless (x)&nbsp;Holdco has issued, repurchased, redeemed, converted, changed or forfeited, as the case</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15<a name="26867-3-NN-03_PB_15_172721_7906"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=19,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=749852,FOLIO='15',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:04 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">may be, Attributable Units to which such Units correspond and (y)&nbsp;Pubco has, to the extent applicable, issued, repurchased, redeemed, converted, changed or forfeited, as the case may be, any shares of Pubco Common Stock constituting the remainder of any Paired Interests in which such Attributable Units are included.&#160; In addition, when any Units are Transferred in accordance with this Agreement, the Member Schedule shall be amended by the Manager to reflect such Transfer, the admission of additional or substitute Members and the resulting Percentage Interest of each Member.&#160; Following the date hereof, no Person shall be admitted as a Member and no additional Units shall be issued except as expressly provided herein.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Unvested Common Units shall be subject to the terms of the MIP and any applicable Employee Equity Letters, and the managing member of Holdco shall have sole and absolute discretion to interpret and administer the MIP and Employee Equity Letters and to adopt such amendments thereto or otherwise determine the terms and conditions of such Unvested Common Units in accordance with this Agreement and the applicable Employee Equity Letters.&#160; Distributions shall not be made in respect of Unvested Common Units (other than Unvested Common Units that correspond to Participating Unvested Common Units (as such term is defined in the Holdco LLC Agreement)).&#160; Unvested Common Units that fail to vest and are forfeited by the applicable Member shall be cancelled by the Company and shall not be entitled to any distributions pursuant to Section&nbsp;5.03.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Substitute Members and Additional Members</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">No Transferee of any Units or Person to whom any Units are issued pursuant to this Agreement shall be admitted as a Member hereunder or acquire any rights hereunder, including any class voting rights or the right to receive distributions and allocations in respect of the Transferred or issued Units, as applicable, unless (i)&nbsp;such Units are Transferred or issued in compliance with the provisions of this Agreement (including Article&nbsp;VIII) and (ii)&nbsp;such Transferee or recipient shall have executed and delivered to the Company such instruments as the Manager deems necessary or desirable, in its reasonable discretion, to effectuate the admission of such Transferee or recipient as a Member and to confirm the agreement of such Transferee or recipient to be bound by all the terms and provisions of this Agreement.&#160; Upon complying with the immediately preceding sentence, without the need for any further action of any Person, a Transferee or recipient shall be deemed admitted to the Company as a Member.&#160; A Substitute Member shall enjoy the same rights, and be subject to the same obligations, as the Transferor; <u>provided</u> that such Transferor shall not be relieved of any obligation or liability hereunder arising prior to the consummation of such Transfer but shall be relieved of all future obligations with respect to the Units so Transferred.&#160; As promptly as practicable after the admission of any Person as a Member, the books and records of the Company shall be changed to reflect such admission of a Substitute Member or Additional Member.&#160; In the event of any admission of a Substitute Member or Additional Member pursuant to this Section&nbsp;3.02(a), this Agreement shall be deemed amended to reflect such admission, and any formal amendment of this Agreement (including the Member Schedule) in connection therewith shall only require execution by the Company and such Substitute Member or Additional Member, as applicable, to be effective.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16<a name="26867-3-NN-03_PB_16_172730_3736"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=20,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=725648,FOLIO='16',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-03_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:04 2015' -->

<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">If a Member shall Transfer all (but not less than all) its Units, the Member shall thereupon cease to be a Member of the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Tax and Accounting Information</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Accounting Decisions and Reliance on Others</font></u><font size="2" style="font-size:10.0pt;">.&#160; All decisions as to accounting matters, except as otherwise specifically set forth herein, shall be made by the Manager in accordance with Applicable Law and with accounting methods followed for federal income tax purposes.&#160; In making such decisions, the Manager may rely upon the advice of the independent accountants of the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Records and Accounting Maintained</font></u><font size="2" style="font-size:10.0pt;">.&#160; The books and records of the Company shall be kept, and the financial position and the results of its operations recorded, in all material respects in accordance with United States generally accepted accounting principles as in effect from time to time (&#147;<u>GAAP</u>&#148;).&#160; The Fiscal Year of the Company shall be used for financial reporting and for federal income tax purposes.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Financial Reports</font></u><font size="2" style="font-size:10.0pt;">.&#160; If determined by the Manager, the books and records of the Company may be audited as of the end of each Fiscal Year by an accounting firm selected by the Manager.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Tax Returns</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company shall cause to be prepared by an accounting firm federal, state, local and foreign tax returns (including information returns) of the Company, which may be required by a jurisdiction in which the Company, Holdco and Holdco&#146;s Subsidiaries operate or conduct business for each year or period for which such returns are required to be filed; and shall cause such returns to be filed.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company shall furnish to each Member (a)&nbsp;all information concerning the Company required for the preparation of tax returns of such Members (or any beneficial owner(s)&nbsp;of such Member), including a report (including Schedule&nbsp;K-1), indicating each Member&#146;s share of the Company&#146;s taxable income, gain, credits, losses and deductions for such year, in sufficient detail to enable such Member to prepare its federal, state and other tax returns; (b)&nbsp;such information concerning the Company as is required to enable such Member (or any beneficial owner of such Member) to pay estimated taxes and (c)&nbsp;such other information concerning the Company that is reasonably requested by such Member for compliance with its tax obligations (or the tax obligations of any beneficial owner(s)&nbsp;of such Member) or for tax planning purposes.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Inconsistent Positions</font></u><font size="2" style="font-size:10.0pt;">.&#160; No Member shall take a position on its income tax return with respect to any item of Company income, gain, deduction, loss or credit that is different from the position taken on the Company&#146;s income tax return with respect to such item.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17<a name="26867-3-NN-05_PB_17_153507_7056"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=21,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=949286,FOLIO='17',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:11 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;3.04</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Books and Records</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Company shall keep full and accurate books of account and other records of the Company at its principal place of business.&#160; No Member shall have any right to inspect the books and records of the Company or any of its Subsidiaries.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;IV</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ADDITIONAL ISSUANCES OF UNITS</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;4.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Additional Issuances of Units</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Company shall not issue any interests or other Equity Securities, except for Units issued to Persons employed by or otherwise performing services for Holdco or any of its Subsidiaries in connection with an issuance by Holdco to the Company of Attributable Units for the benefit of such Persons and any applicable issuance by Pubco of any shares of Pubco Common Stock constituting the remainder of any Paired Interests in which such Attributable Units are included.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;V</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CAPITAL CONTRIBUTIONS; CAPITAL ACCOUNTS;<br> DISTRIBUTIONS; ALLOCATIONS</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Capital Contributions.</font></u></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">From and after the date hereof, no Member shall have any obligation to the Company, to any other Member or to any creditor of the Company to make any further Capital Contribution.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">RESERVED.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Except as expressly provided herein, no Member, in its capacity as a Member, shall have the right to receive any cash or any other property of the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Capital Accounts</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Maintenance of Capital Accounts</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Company shall maintain a Capital Account for each Member on the books of the Company equal to the share of the Capital Account (as defined in the Holdco LLC Agreement) of the Company attributable to the Attributable Units of such Member, as adjusted from time to time pursuant to the Holdco LLC Agreement in accordance with the provisions of Treasury Regulations Section&nbsp;1.704-1(b)(2)(iv); provided, that if Holdco ceases to maintain Capital Accounts (as defined in the Holdco LLC Agreement), the Manager shall be authorized to establish and maintain a Capital Account for each Member on the books of the Company on an equitable basis and in accordance with the provisions of Treasury Regulations Section&nbsp;1.704-1(b)(2)(iv).</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18<a name="26867-3-NN-05_PB_18_153554_5335"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=22,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=9942,FOLIO='18',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:11 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Succession to Capital Accounts</font></u><font size="2" style="font-size:10.0pt;">.&#160; In the event any Person becomes a Substitute Member in accordance with the provisions of this Agreement, such Substitute Member shall succeed to the Capital Account of the former Member (the &#147;<u>Transferring Member</u>&#148;) to the extent such Capital Account relates to the Transferred Units.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">No Member shall be entitled to withdraw capital or receive distributions except as specifically provided herein.&#160; A Member shall have no obligation to the Company, to any other Member or to any creditor of the Company to restore any negative balance in the Capital Account of such Member.&#160; Except as expressly provided elsewhere herein, no interest shall be paid on the balance in any Member&#146;s Capital Account.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Whenever it is necessary for purposes of this Agreement to determine a Member&#146;s Capital Account on a per Unit basis, such amount shall be determined by dividing the Capital Account of such Member attributable to the applicable class of Units held of record by such Member by the number of Units of such class held of record by such Member.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Amounts and Priority of Distributions</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Distributions Generally</font></u><font size="2" style="font-size:10.0pt;">. Except as otherwise provided in Section&nbsp;11.02, distributions shall be made to a Member as set forth in this Section&nbsp;5.03, at such times and in such amounts as made by Holdco in respect of such Member&#146;s Attributable Units.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Distributions to the Members</font></u><font size="2" style="font-size:10.0pt;">.&#160; Subject to Section&nbsp;5.03(e)&nbsp;and Section&nbsp;5.03(f), the Company shall promptly distribute to a Member the proceeds of any distribution received by the Company from Holdco in respect of such Member&#146;s Attributable Units.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Distributions in Kind</font></u><font size="2" style="font-size:10.0pt;">.&#160; Except for Holdco Units or shares of Pubco Common Stock, if any, received by the Company in respect of such Member&#146;s Attributable Units, the Company shall promptly distribute to a Member any in kind distribution received by the Company from Holdco in respect of such Member&#146;s Attributable Units.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Tax Distributions</font></u><font size="2" style="font-size:10.0pt;">.&#160; Promptly following receipt by the Company of any Tax Distribution in respect of the Attributable Units of a Member, the Company shall distribute the proceeds of such Tax Distribution to such Member.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Pre-IPO Profits Distribution</font></u><font size="2" style="font-size:10.0pt;">.&#160; Notwithstanding Section&nbsp;5.03(b), any distributions made to the Company by Holdco pursuant to Section&nbsp;5.03(f)&nbsp;of</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19<a name="26867-3-NN-05_PB_19_153712_2897"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=23,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=59646,FOLIO='19',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:11 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the Holdco LLC Agreement shall be distributed to the Members that held Class&nbsp;A-2 Profits Interests as of immediately prior to the Reorganization, in proportion to their respective Available Cash Flow Percentages (as such term was defined in the Initial LLC Agreement) as of immediately prior to the Reorganization.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.04</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Allocations</font></u><font size="2" style="font-size:10.0pt;">.&#160; All items of income, gain, loss or deduction of the Company for any Fiscal Year shall be allocated among the Members in a manner consistent with the allocations of income, gain, loss or deduction provided for in the Holdco LLC Agreement as if the Members held directly their Attributable Units; provided, that the Manager may make such adjustments as it deems necessary or appropriate in order to effectuate the intended economic arrangement of the Members.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.05</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Other Allocation Rules</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Interim Allocations Due to Percentage Adjustment</font></u><font size="2" style="font-size:10.0pt;">.&#160; If a Percentage Interest is the subject of a Transfer or the Members&#146; Units in the Company change pursuant to the terms of the Agreement during any Fiscal Year, the amount of income, gain, loss or deduction (or items thereof) to be allocated to the Members for such entire Fiscal Year shall be allocated to the portion of such Fiscal Year which precedes the date of such Transfer or change (and if there shall have been a prior Transfer or change in such Fiscal Year, which commences on the date of such prior Transfer or change) and to the portion of such Fiscal Year which occurs on and after the date of such Transfer or change (and if there shall be a subsequent Transfer or change in such Fiscal Year, which precedes the date of such subsequent Transfer or change), in accordance with an interim closing of the books, and the amounts of the items so allocated to each such portion shall be credited or charged to the Members in accordance with Section&nbsp;5.04 as in effect during each such portion of the Fiscal Year in question.&#160; Such allocation shall be in accordance with Section&nbsp;706 of the Code and the regulations thereunder and made without regard to the date, amount or receipt of any distributions that may have been made with respect to the transferred Percentage Interest to the extent consistent with Section&nbsp;706 of the Code and the regulations thereunder.&#160; As of the date of such Transfer, the Transferee Member shall succeed to the Capital Account of the Transferring Member with respect to the transferred Units.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;5.06</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Tax Withholding; Withholding Advances</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Tax Withholding</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">If requested by the Manager, each Member shall, if able to do so, deliver to the Manager:&#160; (A)&nbsp;an affidavit in form satisfactory to the Company that the applicable Member (or its partners, as the case may be) is not subject to withholding under the provisions of any federal, state, local, foreign or other law; <br> (B)&nbsp;any certificate that the Company may reasonably request with respect to any such laws; and/or (C)&nbsp;any other form or instrument reasonably requested by the Company relating to any Member&#146;s status under such law.&#160; In the event that a Member fails or is unable to deliver to the Company an affidavit described in subclause&nbsp;(A)&nbsp;of this</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20<a name="26867-3-NN-05_PB_20_153741_3020"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=24,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=693705,FOLIO='20',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:11 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">clause&nbsp;(i), the Company may withhold amounts from such Member in accordance with Section&nbsp;5.06(b).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">After receipt of a written request of any Member, the Company shall provide such information to such Member and take such other action as may be reasonably necessary to assist such Member in making any necessary filings, applications or elections to obtain any available exemption from, or any available refund of, any withholding imposed by any foreign taxing authority with respect to amounts distributable or items of income allocable to such Member hereunder to the extent not adverse to the Company or any Member.&#160; In addition, the Company shall, at the request of any Member, make or cause to be made (or cause the Company to make) any such filings, applications or elections; <u>provided</u> that any such requesting Member shall cooperate with the Company, with respect to any such filing, application or election to the extent reasonably determined by the Company and that any filing fees, taxes or other out-of-pocket expenses reasonably incurred and related thereto shall be paid and borne by such requesting Member or, if there is more than one requesting Member, by such requesting Members in accordance with their Relative Percentage Interests.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Withholding Advances</font></u><font size="2" style="font-size:10.0pt;">.&#160; To the extent the Company is required by Applicable Law to withhold or to make tax payments on behalf of or with respect to any Member (e.g., backup withholding) (&#147;<u>Withholding Advances</u>&#148;), the Company may withhold such amounts and make such tax payments as so required.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Repayment of Withholding Advances</font></u><font size="2" style="font-size:10.0pt;">.&#160; All Withholding Advances made on behalf of a Member, plus interest thereon at a rate equal to the Prime Rate as of the date of such Withholding Advances plus 2.0% per annum, shall (i)&nbsp;be paid on demand by the Member on whose behalf such Withholding Advances were made (it being understood that no such payment shall increase such Member&#146;s Capital Account), or (ii)&nbsp;with the consent of the Manager and the affected Member be repaid by reducing the amount of the current or next succeeding distribution or distributions that would otherwise have been made to such Member or, if such distributions are not sufficient for that purpose, by so reducing the proceeds of liquidation otherwise payable to such Member.&#160; Whenever repayment of a Withholding Advance by a Member is made as described in clause&nbsp;(ii)&nbsp;of this Section&nbsp;5.06(c), for all other purposes of this Agreement such Member shall be treated as having received all distributions (whether before or upon any Dissolution Event) unreduced by the amount of such Withholding Advance and interest thereon.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Withholding Advances &#151; Reimbursement of Liabilities</font></u><font size="2" style="font-size:10.0pt;">.&#160; Each Member hereby agrees to reimburse the Company for any liability with respect to Withholding Advances (including interest thereon) required or made on behalf of or with respect to such Member (including penalties imposed with respect thereto).</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21<a name="26867-3-NN-05_PB_21_153808_7748"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=25,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=796867,FOLIO='21',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:11 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;VI</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CERTAIN TAX MATTERS</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Tax Matters Partner</font></u><font size="2" style="font-size:10.0pt;">.&#160; The &#147;<u>Tax Matters Partner</u>&#148; (as such term is defined in Section&nbsp;6231(a)(7)&nbsp;of the Code) of the Company shall be designated by the Manager.&#160; The Tax Matters Partner shall use its reasonable efforts to comply with the responsibilities outlined in Sections&nbsp;6221 through 6233 of the Code (including the Treasury Regulations promulgated thereunder) and shall have any powers necessary to perform fully in such capacity, subject to, in each case, the authority of the Manager in connection therewith.&#160; The Manager is authorized to represent the Company before taxing authorities and courts in tax matters affecting the Company and the Members in their capacity as such and shall keep the Members promptly informed of any such administrative and judicial proceedings.&#160; The Manager and the Tax Matters Partner shall be entitled to be reimbursed by the Company for all reasonable third-party costs and expenses incurred by them in connection with any administrative or judicial proceeding affecting tax matters of the Company and the Members in their capacity as such.&#160; Neither the Manager nor the Tax Matters Partner shall bind any Member to any settlement agreement or closing agreement without such Member&#146;s prior written consent.&#160; Any Member who enters into a settlement agreement with any tax authority with respect to any Company item shall notify the Manager of such settlement agreement and its terms within thirty (30) calendar days after the date of settlement.&#160; This provision shall survive any termination of this Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Section&nbsp;754 Election</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Company has previously made Company an election (a &#147;<u>Section&nbsp;754 Election</u>&#148;) under Section&nbsp;754 of the Code (and a corresponding election under state and local law).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.04</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;6.05</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Debt Allocation</font></u><font size="2" style="font-size:10.0pt;">.&#160; Indebtedness of the Company treated as a &#147;nonrecourse liability&#148; (as defined in Treasury Regulation Section&nbsp;1.752-1(a)(2)) shall be allocated to the Members based on their Relative Percentage Interests.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;VII</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">MANAGEMENT OF THE COMPANY</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Management by the Manager</font></u><font size="2" style="font-size:10.0pt;">.&#160; Except as otherwise specifically set forth in this Agreement, the Manager shall be deemed to be a &#147;manager&#148; for purposes of applying the Delaware Act.&#160; Except as expressly provided in this Agreement or the Delaware Act, the day-to-day business and affairs of the Company shall be managed, operated and controlled by the Manager in accordance with the terms of this Agreement and no other Members shall have management authority or rights over the Company.&#160; The Manager is, to the extent of its rights and powers set forth in this</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22<a name="26867-3-NN-05_PB_22_153911_141"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=26,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=878380,FOLIO='22',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:11 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Agreement, an agent of the Company for the purpose of the Company&#146;s business, and the actions of the Manager taken in accordance with such rights and powers, shall bind the Company (and no other Members shall have such right).&#160; Except as expressly provided in this Agreement, the Manager shall have all necessary powers to carry out the purposes, business, and objectives of the Company.&#160; The Manager may delegate to Members, employees, officers or agents of the Company in his discretion the authority to sign agreements and other documents on behalf of the Company.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Withdrawal or Removal of the Manager</font></u><font size="2" style="font-size:10.0pt;">.&#160; Viola shall be the Manager until such time as he withdraws as Manager or is removed by Holdco, at which time Holdco or its designee shall be appointed as and have all rights and obligations of the Manager set forth herein and all references to the authority and discretion of the &#147;Manager&#148; herein shall be deemed to refer to the authority and discretion of Holdco acting by action of its managing member pursuant to Section&nbsp;7.01 of the Holdco LLC Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Decisions by the Members</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Members shall take no part in the management of the Company&#146;s business, shall transact no business for the Company and shall have no power to act for or to bind the Company; <u>provided</u>, <u>however</u>, that the Company may engage any Member or principal, partner, member, shareholder or interest holder thereof as an employee, independent contractor or consultant to the Company, in which event the duties and liabilities of such individual or firm with respect to the Company as an employee, independent contractor or consultant shall be governed by the terms of such engagement with the Company.&#160; For the avoidance of doubt, except as otherwise determined by the Manager (including pursuant to Section&nbsp;9.09), no Member shall have the right to grant or otherwise determine any vote, approval or consent with respect any Attributable Securities held on behalf of such Member if and until such Attributable Securities have been distributed to such Member or are otherwise held directly thereby and, until such time, the Company shall retain all power and authority to provide any vote, approval or consent with respect to such Attributable Securities at the direction of the Manager; <u>provided</u> that, with respect to any election of directors of the Pubco Board, the Manager shall direct the Company to vote any Attributable Securities entitled to vote in such election in favor of the nominees recommended by the Pubco Board.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Except as expressly provided herein, neither the Members nor any class of Members shall have the power or authority to vote, approve or consent to any matter or action taken by the Company.&#160; Except as otherwise provided herein, any proposed matter or action subject to the vote, approval or consent of the Members or any class of Members shall require the approval of the Manager and a majority in interest of the Members or such class of Members, as the case may be, by (i)&nbsp;resolution at a duly convened meeting of the Members or such class of Members, as the case may be, or (ii)&nbsp;written consent of the Manager and a majority in interest of the Members or such class of Members, as the case may be, in each case, based on the Relative Percentage Interests thereof.&#160; Except as expressly provided herein, all Members shall vote together as a single class on any matter subject to the vote, approval or consent of the Members.&#160; In</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23<a name="26867-3-NN-05_PB_23_154018_7608"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=27,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=153366,FOLIO='23',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:11 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the case of any such approval, a majority in interest of the Members or any class of Members, as the case may be, may call a meeting of the Members or such class of Members at such time and place or by means of telephone or other communications facility that permits all persons participating in such meeting to hear and speak to each other for the purpose of a vote thereon.&#160; Notice of any such meeting shall be required, which notice shall include a brief description of the action or actions to be considered by the Members or such class of Members, as the case may be.&#160; Unless waived by any such Member in writing, notice of any such meeting shall be given to each Member or Member of such class, as the case may be, at least four (4)&nbsp;days prior thereto.&#160; Attendance or participation of a Member at a meeting shall constitute a waiver of notice of such meeting, except when such Member attends or participates in the meeting for the express purpose of objecting at the beginning thereof to the transaction of any business because the meeting is not properly called or convened.&#160; Any action required or permitted to be taken at any meeting of the Members may be taken without a meeting, if a consent in writing, setting forth the actions so taken, shall be signed by Members sufficient to approve such action pursuant to this Section&nbsp;7.03(b).&#160; A copy of any such consent in writing will be provided to the Members promptly thereafter.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.04</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.05</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.06</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.07</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">WAIVER OF FIDUCIARY DUTIES</font></u><font size="2" style="font-size:10.0pt;">. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW AND NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT OR ANY OTHER AGREEMENT CONTEMPLATED HEREIN OR APPLICABLE PROVISIONS OF LAW OR EQUITY OR OTHERWISE, THE PARTIES HERETO HEREBY AGREE THAT PURSUANT TO THE AUTHORITY OF SECTIONS 18-1101(c)-(e)&nbsp;OF THE DELAWARE ACT, THE PARTIES HERETO HEREBY ELIMINATE ANY AND ALL FIDUCIARY DUTIES THE MANAGER OR ANY MEMBER MAY&nbsp;HAVE TO SUCH PARTIES HEREUNDER AND HEREBY AGREE THAT THE MANAGER AND THE MEMBERS SHALL HAVE NO FIDUCIARY DUTY HEREUNDER TO THE COMPANY OR ANY OTHER MEMBER OR OTHER PARTY TO THIS AGREEMENT, PROVIDED THAT SUCH EXCLUSION OR LIMITATION OF LIABILITY SHALL NOT EXTEND TO MISAPPROPRIATION OF ASSETS OR FUNDS OF THE COMPANY OR OTHER ACTS OR OMISSIONS THAT CONSTITUTE A BAD FAITH VIOLATION OF THE IMPLIED CONTRACTUAL COVENANT OF GOOD FAITH AND FAIR DEALING.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;7.08</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Officers</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Appointment of Officers.&#160; The Manager may appoint individuals as officers (&#147;<u>Officers</u>&#148;) of the Company, which may include such officers as the Manager determines are necessary and appropriate.&#160; No Officer need be a Member.&#160; An individual may be appointed to more than one office.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24<a name="26867-3-NN-05_PB_24_154630_8146"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=28,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=687222,FOLIO='24',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:11 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Authority of Officers</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Officers shall have the duties, rights, powers and authority as may be prescribed by the Manager from time to time.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Removal, Resignation and Filling of Vacancy of Officers</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Manager may remove any Officer, for any reason or for no reason, at any time.&#160; Any Officer may resign at any time by giving written notice to the Company, and such resignation shall take effect at the date of the receipt of that notice or any later time specified in that notice; <u>provided</u> that, unless otherwise specified in that notice, the acceptance of the resignation shall not be necessary to make it effective.&#160; Any such resignation shall be without prejudice to the rights, if any, of the Company or such Officer under this Agreement.&#160; A vacancy in any office because of death, resignation, removal or otherwise shall be filled by the Manager.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;VIII</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">TRANSFERS OF INTERESTS</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;8.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Restrictions on Transfers</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Except as expressly permitted by Section&nbsp;8.02 (only to the extent permitted by Section&nbsp;8.01(b), Section&nbsp;8.01(c), Section&nbsp;8.01(d), Section&nbsp;8.01(e), any underwriter lock-up agreement applicable to such Member, such Member&#146;s Employee Equity Letter and/or any other agreement between such Member and the Company, Holdco, Pubco or any of their Controlled Affiliates), without the prior written approval of the Manager, no Member shall directly or indirectly Transfer all or any part of its Units or any right or economic interest pertaining thereto, including the right to vote or consent on any matter or to receive or have any economic interest in distributions or advances from the Company pursuant thereto.&#160; Any such Transfer which is not in compliance with the provisions of this Agreement shall be deemed a Transfer by such Member of Units in violation of this Agreement (and a breach of this Agreement by such Member) and shall be null and void <i>ab initio</i>.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Except as otherwise expressly provided herein, it shall be a condition precedent to any Transfer otherwise permitted or approved pursuant to this Article&nbsp;VIII that:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the Transferor shall have provided to the Company prior notice of such Transfer; and</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the Transfer shall comply with all Applicable Laws and not result in any Regulatory Disqualification.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Notwithstanding any other provision of this Agreement to the contrary, no Member shall directly or indirectly Transfer all or any part of its Units or any right or economic interest pertaining thereto if, in the reasonable discretion of the Manager, such Transfer would cause the Company (i)&nbsp;to be classified as a &#147;publicly traded partnership&#148; as that term is defined in Section&nbsp;7704 of the Code and the</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">25<a name="26867-3-NN-05_PB_25_154703_7091"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=29,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=983064,FOLIO='25',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:11 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Regulations promulgated thereunder or (ii)&nbsp;require the Company to be registered as an investment company under the United States Investment Company Act of 1940 (the &#147;<u>Investment Company Act</u>&#148;).&#160; In addition, notwithstanding any provision of this Agreement to the contrary, to the extent the Units do not meet the requirements of Treasury Regulation Section&nbsp;1.7704-1(h), the Manager shall impose such restrictions on the direct or indirect Transfer of Units or other interests in the Company as are necessary or advisable so that the Company is not treated as a publicly traded partnership taxable as a corporation under Section&nbsp;7704 of the Code.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Any Transfer of Units pursuant to this Agreement, including this Article&nbsp;VIII, shall be subject to the provisions of Section&nbsp;3.01 and Section&nbsp;3.02.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">For the avoidance of doubt, in addition to any restrictions on Transfer set forth in this Article&nbsp;VIII that may apply to such Transfer, any Transfer of Units by any Restricted Member shall be subject to the restrictions on Transfer attached hereto as <u>Exhibit&nbsp;B</u>.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;8.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Exchange Elections</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Subject to Section&nbsp;8.02(b), a Member may receive shares of Class&nbsp;A Common Stock (to the extent such shares of Class&nbsp;A Common Stock may be Transferred pursuant to such Member&#146;s Employee Equity Letter) as contemplated by this Section&nbsp;8.02(a), subject to the delivery to the Company of a written election in the form attached hereto as <u>Exhibit&nbsp;A</u> of its intention to receive such shares of Class&nbsp;A Common Stock (a &#147;<u>Exchange Election</u>&#148;) and compliance with this Section&nbsp;8.02(a).&#160; The Manager shall select for the consummation of the transactions contemplated by such Exchange Election a date not later than thirty (30) calendar days (or, if later, as required under Applicable Law) after receipt of such Exchange Election. &#160;On such date, if the Company has not previously elected to exercise its repurchase rights pursuant to Section&nbsp;9.05 to the extent applicable at such time upon receipt of such Exchange Election and as contemplated thereby, (i)&nbsp;the Manager shall cause the Company to distribute to such Transferring Member the Attributable Units that correspond to any Vested Common Units designated to be Transferred in such Exchange Election (together with any shares of Class&nbsp;A Common Stock constituting the remainder of any Paired Interests in which such Attributable Units were included), which Vested Common Units shall be cancelled in full redemption thereof without any further consideration being paid to such Vested Common Units other than amounts (if any) actually paid to the Company under the Tax Receivable Agreement in respect of such Attributable Securities (and, to the extent such Transferring Member no longer owns any other Units, such Transferring Member shall cease to be a Member of the Company), (ii)&nbsp;the Company shall assign to such Member, and such Member shall assume, the Company&#146;s rights and obligations under the Exchange Agreement, the Registration Rights Agreement and the Holdco LLC Agreement, in each case, solely to the extent applicable to such Attributable Securities and (iii)&nbsp;such Transferring Member shall immediately exchange such Attributable Securities for shares of Class&nbsp;A Common Stock pursuant to the Exchange Agreement (and such Transferring Member shall cease to be a Member of Holdco with respect to any</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26<a name="26867-3-NN-05_PB_26_154721_455"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=30,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=848469,FOLIO='26',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:11 2015' -->

<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">such Attributable Units).&#160; Any such Transferring Member shall execute and deliver any documentation reasonably required by the Company to consummate the foregoing transactions.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Notwithstanding&#160; Section&nbsp;8.02(a), no Member shall be entitled to make an Exchange Election or otherwise Transfer any Units thereof during the period commencing on the Separation Date of the Member and ending on the earlier to occur of (i)&nbsp;the Company waiving in writing its right to deliver a Call Notice (as defined below) with respect to such Units pursuant to Section&nbsp;9.05(a)&nbsp;and (ii)&nbsp;the Company failing to deliver a Call Notice on or prior to the date that is thirty (30) calendar days following such Separation Date with respect to such Units pursuant to Section&nbsp;9.05(a).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;8.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;8.04</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;8.05</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;8.06</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Registration of Transfers</font></u><font size="2" style="font-size:10.0pt;">.&#160; When any Units are Transferred in accordance with the terms of this Agreement, the Company shall cause such Transfer to be registered on the books of the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;IX</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CERTAIN OTHER AGREEMENTS</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;9.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Underwriter Lock-Up Agreements</font></u><font size="2" style="font-size:10.0pt;">.&#160; Pursuant to the Initial LLC Agreement, each Member has previously appointed the Company as its true and lawful proxy and attorney-in-fact, with full power of substitution, to execute a &#147;lock-up&#148; agreement in respect of any Holdco Units or shares of Pubco Common Stock distributed to such Member on or after the Holdco IPO and such other documentation as has been or shall be reasonably requested by the underwriters of the Holdco IPO.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;9.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;9.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;9.04</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Non-Compete; Non-Solicitation</font></u><font size="2" style="font-size:10.0pt;">.&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Each Restricted Member agrees for the benefit of the Company, Holdco, each SL Member and each Viola Member that:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">No Restricted Member shall directly or indirectly engage in any Competitive Activity from and after the date hereof until the third (3</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">rd</font><font size="2" style="font-size:10.0pt;">) anniversary following such Restricted Member&#146;s Termination Date.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Restricted Members shall not directly or indirectly solicit, or assist any other Person to solicit, as an employee or consultant any employee, former employee or Restricted Member of the Company, Holdco or any of Holdco&#146;s</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">27<a name="26867-3-NN-07_PB_27_154905_7056"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=31,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=380032,FOLIO='27',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-07_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:12 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Subsidiaries (the &#147;<u>Company Parties</u>&#148;) until the third (3rd) anniversary following such Restricted Member&#146;s Termination Date.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Restricted Members shall not, and shall cause their respective Controlled Affiliates not to, hire, or assist any other Person to hire, as an employee or consultant any employee, former employee, Member or retired Member of the Company Parties until the third (3rd) anniversary following such Restricted Member&#146;s Termination Date.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">No Member shall take, and each Member shall take reasonable steps to cause its Affiliates not to take, any action or make any public statement, whether or not in writing, that disparages or denigrates the Company Parties or their respective directors, officers, employees, members, representatives and agents; provided, however, that nothing in this Section&nbsp;9.04(d)&nbsp;shall prevent any Member from (i)&nbsp;testifying truthfully in any legal or administrative proceeding if such testimony is compelled or requested, or (ii)&nbsp;complying with applicable legal requirements.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Each Restricted Member agrees that (i)&nbsp;the agreements and covenants contained in this Section&nbsp;9.04 are reasonable in scope and duration, an integral part of the transactions contemplated by this Agreement, by the MTH Transaction Documents (as such term is defined in the Holdco LLC Agreement) and the Reorganization Documents and necessary to protect and preserve the Members&#146; and Company Parties&#146; legitimate business interests and to prevent any unfair advantage conferred on such Restricted Member taking into account and in specific consideration of the undertakings and obligations of the parties under the Agreement, the MTH Transaction Documents and the Reorganization Documents, (ii)&nbsp;but for each Restricted Member&#146;s agreement to be bound by the agreements and covenants contained under this Section&nbsp;9.04, the SL Members, the Viola Members and the Company Parties would not have entered into or consummated those transactions contemplated the Agreement, the MTH Transaction Documents and the Reorganization Documents and (iii)&nbsp;that irreparable harm would result to the SL Members, the Viola Members and the Company Parties as a result of a violation or breach (or potential violation or breach) by such Restricted Member (or his Affiliates) of this Section&nbsp;9.04.&#160; In addition, each Restricted Member agrees that each of the following parties shall have the right to specifically enforce the provisions of this Section&nbsp;9.04 in any federal court located in the State of Delaware or any Delaware state court, in addition to any other remedy to which such parties are entitled at law or in equity:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(x)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the Company Parties against any Restricted Member;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.75in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(y)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the SL Members against any Restricted Member so long as it meets the Limited Ownership Minimum; and</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">28<a name="26867-3-NN-07_PB_28_154925_5335"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=32,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=723943,FOLIO='28',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-07_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:12 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.75in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(z)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the Viola Members against any Restricted Member so long as it meets the Limited Ownership Minimum.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If a final judgment of a court of competent jurisdiction or other Governmental Authority determines that any term, provision, covenant or restriction contained in this Section&nbsp;9.04 is invalid or unenforceable, then the parties hereto agree that the court of competent jurisdiction or other Governmental Authority will have the power to modify this Section&nbsp;9.04 (including by reducing the scope, duration or geographic area of the term or provision, deleting specific words or phrases or replacing any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision) so as to effect the original intention of the invalid or unenforceable term or provision.&#160; To the fullest extent permitted by law, in the event that any proceeding is brought under or in connection with this Section&nbsp;9.04, the prevailing party in such proceeding (whether at final or on appeal) shall be entitled to recover from the other party all costs, expenses, and reasonable attorneys&#146; fees incident to any such proceeding.&#160; The term &#147;prevailing party&#148; as used herein means the party in whose favor the final judgment or award is entered in any such proceeding.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;9.05</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Company Call Right</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">(i)&nbsp;On or after a Member&#146;s Separation Date or (ii)&nbsp;in connection with any Involuntary Transfer, Holdco or Pubco may, in Pubco&#146;s sole discretion, elect to purchase any or all of the vested Attributable Securities (&#147;<u>Attributable Call Securities</u>&#148;) held by the Company that correspond to the Vested Common Units of such Member or, in the case of any Involuntary Transfer, that correspond to any such Units transferred to such Transferee (each such Member or Transferee, a &#147;<u>Call Members</u>&#148; and such Units, &#147;<u>Call Units</u>&#148;)) at any time by delivery of a written notice (a &#147;<u>Call Notice</u>&#148;) by the Manager to such Call Member(s)&nbsp;on or prior to the date that is sixty (60) calendar days following such Separation Date.&#160; The Call Notice shall set forth the Call Price and the proposed closing date of Holdco&#146;s or Pubco&#146;s, as applicable, purchase of such Attributable Call Securities; provided that such closing date shall occur within ninety (90) days following the date of such Call Notice.&#160; In the event that Holdco or Pubco do not elect to purchase any or all of Attributable Call Securities held by the Company that correspond to such Call Units, the Company may nevertheless in its sole discretion elect to purchase from such Call Member any or all of such Call Units that correspond to such Attributable Call Securities in the same manner as if Holdco and Pubco had elected to purchase such Attributable Call Securities.&#160; At the closing of any such sale, (x)&nbsp;each Call Member shall deliver to the Company for cancellation its Call Units that correspond to such Attributable Call Securities, duly endorsed, or accompanied by written instruments of transfer in form satisfactory to the Company and accompanied by all requisite transfer taxes, if any in exchange for a purchase price equal to the fair market value of such Call Units (as determined by the Manager in its sole discretion) (the &#147;<u>Call Price</u>&#148;), which may be paid the form of a Company Note pursuant to Section&nbsp;9.05(c), (y)&nbsp;such Call Units shall be free and clear of any Liens and (z)&nbsp;each Call Member shall so represent and warrant and further represent and warrant that it is the sole beneficial and record owner of such Call Units.&#160; Following such closing, any such Call</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">29<a name="26867-3-NN-07_PB_29_154947_5796"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=33,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=153979,FOLIO='29',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-07_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:12 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Member shall no longer be entitled to any rights in respect of such Call Units, including any distributions of the Company thereupon (other than the payment of (A)&nbsp;the Call Price at such closing and (B)&nbsp;amounts (if any) actually paid to the Company under the Tax Receivable Agreement in respect of such Attributable Call Securities), and, to the extent any such Call Member does not hold any Units thereafter, shall thereupon cease to be a Member of the Company.&#160; Any post-termination payments in respect of such Call Units (including under the Company Note and any Minimum Annual Payments (as defined below) shall be conditioned on the Member executing and delivering (and not revoking) a waiver and release of claims satisfactory to Holdco and Pubco within 60 days following the Separation Date; <u>provided</u> that if such 60 day period spans two taxable years of the Member, then the first post-termination payment shall commence in the second taxable year (but in all events after the release has become effective).&#160; Notwithstanding the definition of &#147;Call Price&#148;, in the event of a breach by the Member of Section&nbsp;9.04, (1)&nbsp;the &#147;Call Price&#148; shall be no or nominal consideration as determined in the Manager&#146;s sole discretion, and 2B) to the extent a Company Note has been issued to such Call Member, or consideration payable pursuant to this Section&nbsp;9.05 is otherwise payable in installments (including any Minimum Annual Payment),&#160; all remaining amounts payable to such Call Member shall be deemed forfeited.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">For the avoidance of doubt, upon the Separation Date of any Member, all Unvested Common Units held by such Member shall be forfeited without the payment of any consideration.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company shall have the option in the Manager&#146;s sole discretion to settle its obligations to purchase all or any portion of the Call Units pursuant to this Section&nbsp;9.05 by delivery to such Call Member at the closing of the purchase of such Call Units a promissory note of Holdco in a face amount equal to the Call Price of such Call Units (a &#147;<u>Company Note</u>&#148;).&#160; Each Company Note shall be subject to this Section&nbsp;9.05 and bear interest at a rate of five percent (5%) per annum.&#160; Each Company Note (i)&nbsp;shall be subordinated to the prior payment in full of all of the Company&#146;s indebtedness for borrowed money, (ii)&nbsp;shall mature no later than the three-year anniversary of the date of the Call Notice and (iii)&nbsp;all principal and accrued interest thereon shall accrue become payable on such maturity date or, at the election of the Manager in its sole discretion, in earlier installments.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">In furtherance of the foregoing, the Manager may elect, in its sole discretion, to cause the Company to, and Holdco acknowledges that the Company may, in lieu of a purchase of Call Units pursuant to Section&nbsp;9.05(a), (i)&nbsp;distribute to such Call Member the Attributable Call Securities that correspond to such Call Units and (ii)&nbsp;Holdco shall repurchase such Attributable Call Securities from such Call Member for consideration (including in the form of a Company Note) equal to the consideration such Member would have received pursuant to Section&nbsp;9.05(a)&nbsp;with respect to such Call Member&#146;s Call Units.&#160; Upon such a repurchase, the Call Units and Attributable Call Securities held by such Call Member shall be cancelled and such Call Member shall cease to be a Member of the Company or Holdco or a stockholder of Pubco with respect to such Call Units and Attributable Call Securities.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">30<a name="26867-3-NN-07_PB_30_155012_2897"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=34,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=952789,FOLIO='30',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-07_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:12 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Notwithstanding the definition of &#147;Call Price&#148;, if (i)&nbsp;the Member is terminated by Holdco without Cause (as defined in the MIP) (and other than due to death or disability) or terminates his or her employment with or without &#147;good reason&#148; and (ii)&nbsp;payments for the repurchase of any Call Units in accordance with this Section&nbsp;9.05, would result in such Call Member receiving less than the greater of (x)&nbsp;such Member&#146;s annual base salary at the time of termination of employment and (y)&nbsp;$250,000 (such greater amount, the &#147;<u>Minimum Annual Payment</u>&#148;), per year, for the three year period following termination of employment in respect thereof, Holdco (or the Company, as applicable) may, at its sole discretion, provide such Call Member with additional amounts such that he or she receives up to the Minimum Annual Payment.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;9.06</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;9.07</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">RESERVED</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;9.08</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Termination of Certain Provisions</font></u><font size="2" style="font-size:10.0pt;">.&#160; Notwithstanding anything to the contrary herein, upon the consummation of&nbsp;a Disposition Event, the following provisions shall be deemed automatically terminated: Section&nbsp;8.01 (but not the requirement under Section&nbsp;8.01(b)(ii)&nbsp;that such Transfer comply with Applicable Laws and Section&nbsp;8.01(c)), Section&nbsp;9.05 and Section&nbsp;12.10.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;9.09</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Holdco</font></u><font size="2" style="font-size:10.0pt;">.&#160;&#160; In applying the provisions of this Agreement (including Article&nbsp;V, Article&nbsp;VI, Article&nbsp;VII, Article&nbsp;VIII and Article&nbsp;IX), and in order to determine equitably the rights and obligations of the Company and the Members, the Manager, the Company, Holdco and Pubco may treat any Member as if it were (i)&nbsp;a member of Holdco and a direct holder of the underlying Attributable Units owned by the Company and (ii)&nbsp;a stockholder of Pubco and a direct holder of the underlying Attributable Shares owned by the Company.&#160; Accordingly, upon (x)&nbsp;any issuance of additional Holdco Units or shares of Pubco Common Stock to the Company for the benefit of any Member (or the occurrence of any event that causes the repurchase or forfeiture of any Holdco Units or shares of Pubco Common Stock), (y)&nbsp;the Transfer of Holdco Units or shares of Pubco Common Stock by the Company or (z)&nbsp;</font><font size="2" style="font-size:10.0pt;">any merger, consolidation, sale of all or substantially all of the assets of Holdco, issuance of debt or other similar capital transaction of Holdco</font><font size="2" style="font-size:10.0pt;">, the Manager, the Company and/or Holdco may take any action or make any adjustment with respect to the Units to replicate, as closely as possible, such actions (including the effects thereof), and the Members shall take all actions reasonably requested by the Manager in connection therewith and this Section&nbsp;9.09.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;X</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">LIMITATION ON LIABILITY, EXCULPATION<br> AND INDEMNIFICATION</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;10.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Limitation on Liability</font></u><font size="2" style="font-size:10.0pt;">.&#160; The debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the Company, and no Covered Person shall be</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">31<a name="26867-3-NN-07_PB_31_155111_7748"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=35,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=344543,FOLIO='31',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-07_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:12 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">obligated personally for any such debt, obligation or liability of the Company; <u>provided</u> that the foregoing shall not alter a Member&#146;s obligation to return funds wrongfully distributed to it.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;10.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Exculpation and Indemnification</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">No Covered Person described in clause (iii), (iv)&nbsp;or (v)&nbsp;of the definition thereof shall be liable, including under any legal or equitable theory of fiduciary duty or other theory of liability, to the Company or to any other Covered Person for any losses, claims, damages or liabilities incurred by reason of any act or omission performed or omitted by such Covered Person in good faith on behalf of the Company.&#160; There shall be, and each Covered Person shall be entitled to, a presumption that such Covered Person acted in good faith.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">A Covered Person shall be fully protected in relying in good faith upon the records of the Company and upon such information, opinions, reports or statements presented to the Company by any Person as to matters the Covered Person reasonably believes are within such Person&#146;s professional or expert competence.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company shall indemnify, defend and hold harmless each Covered Person against any losses, claims, damages, liabilities, expenses (including all reasonable out-of-pocket fees and expenses of counsel and other advisors), judgments, fines, settlements and other amounts arising from any and all claims, demands, actions, suits or proceedings, in which such Covered Person may be involved or become subject to, in connection with any matter arising out of or in connection with the Company&#146;s business or affairs, or this Agreement or any related document, unless such loss, claim, damage, liability, expense, judgment, fine, settlement or other amount (i)&nbsp;is as a result of a Covered Person not acting in good faith on behalf of the Company or arose as a result of the willful commission by such Covered Person of any act that is dishonest and materially injurious to the Company or (ii)&nbsp;results from the breach by any Member (in such capacity) of its contractual obligations under this Agreement (including Section&nbsp;9.04).&#160; If any Covered Person becomes involved in any capacity in any action, suit, proceeding or investigation in connection with any matter arising out of or in connection with the Company&#146;s business or affairs, or this Agreement or any related document, other than (x)&nbsp;by reason of any act or omission performed or omitted by such Covered Person that was not in good faith on behalf of the Company or constituted a willful commission by such Covered Person of an act that is dishonest and materially injurious to the Company or (y)&nbsp;as a result of any breach by such Covered Person of Section&nbsp;9.04, the Company shall reimburse such Covered Person for its reasonable legal and other reasonable out-of-pocket expenses (including the cost of any investigation and preparation) as they are incurred in connection therewith; <u>provided</u> that such Covered Person shall promptly repay to the Company the amount of any such reimbursed expenses paid to it if it shall be finally judicially determined that such Covered Person was not entitled to indemnification by, or contribution from, the Company in connection with such action, suit, proceeding or investigation.&#160; If for any reason (other than the bad faith of a Covered Person or the willful commission by such Covered Person of an act that is dishonest and materially injurious to the Company) the foregoing indemnification</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">32<a name="26867-3-NN-07_PB_32_155136_141"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=36,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=742921,FOLIO='32',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-07_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:12 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">is unavailable to such Covered Person, or insufficient to hold it harmless, then the Company shall contribute to the amount paid or payable by such Covered Person as a result of such loss, claim, damage, liability, expense, judgment, fine, settlement or other amount in such proportion as is appropriate to reflect any relevant equitable considerations.&#160; There shall be, and each Covered Person shall be entitled to, a rebuttable presumption that such Covered Person acted in good faith.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The obligations of the Company under Section&nbsp;10.02(c)&nbsp;shall be satisfied solely out of and to the extent of the Company&#146;s assets, and no Covered Person shall have any personal liability on account thereof.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Given that certain Jointly Indemnifiable Claims may arise by reason of the service of a Covered Person to the Company and/or as a director, trustee, officer, partner, member, manager, employee, consultant, fiduciary or agent of other corporations, limited liability companies, partnerships, joint ventures, trusts, employee benefit plans or other enterprises controlled by the Company (collectively, the &#147;<u>Controlled Entities</u>&#148;), or by reason of any action alleged to have been taken or omitted in any such capacity, the Company acknowledges and agrees that the Company shall, and to the extent applicable shall cause the Controlled Entities to, be fully and primarily responsible for the payment to the Covered Person in respect of indemnification or advancement of all out-of-pocket costs of any type or nature whatsoever (including, without limitation, all attorneys&#146; fees and related disbursements) in each case, actually and reasonably incurred by or on behalf of a Covered Person in connection with either the investigation, defense or appeal of a claim, demand, action, suit or proceeding or establishing or enforcing a right to indemnification under this Agreement or otherwise incurred in connection with a claim that is indemnifiable hereunder (collectively, &#147;<u>Expenses</u>&#148;) in connection with any such Jointly Indemnifiable Claim, pursuant to and in accordance with (as applicable) the terms of (i)&nbsp;the Delaware Act, (ii)&nbsp;this Agreement, (iii)&nbsp;any other agreement between the Company or any Controlled Entity and the Covered Person pursuant to which the Covered Person is indemnified, (iv)&nbsp;the laws of the jurisdiction of incorporation or organization of any Controlled Entity and/or (v)&nbsp;the certificate of incorporation, certificate of organization, bylaws, partnership agreement, operating agreement, certificate of formation, certificate of limited partnership, certificate of qualification or other organizational or governing documents of any Controlled Entity ((i)&nbsp;through (v)&nbsp;collectively, the &#147;<u>Indemnification Sources</u>&#148;), irrespective of any right of recovery the Covered Person may have from the Indemnitee-Related Entities.&#160; Under no circumstance shall the Company or any Controlled Entity be entitled to any right of subrogation or contribution by the Indemnitee-Related Entities and no right of advancement or recovery the Covered Person may have from the Indemnitee-Related Entities shall reduce or otherwise alter the rights of the Covered Person or the obligations of the Company or any Controlled Entity under the Indemnification Sources.&#160; In the event that any of the Indemnitee-Related Entities shall make any payment to the Covered Person in respect of indemnification or advancement of Expenses with respect to any Jointly Indemnifiable Claim, (i)&nbsp;the Company shall, and to the extent applicable shall cause the Controlled Entities to, reimburse the Indemnitee-Related Entity making such payment to the extent of such payment promptly upon written demand from such Indemnitee-Related Entity, (ii)&nbsp;to the extent not previously and fully reimbursed by the</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">33<a name="26867-3-NN-07_PB_33_155205_7608"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=37,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=946604,FOLIO='33',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-07_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:12 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Company and/or any Controlled Entity pursuant to clause (i), the Indemnitee-Related Entity making such payment shall be subrogated to the extent of the outstanding balance of such payment to all of the rights of recovery of the Covered Person against the Company and/or any Controlled Entity, as applicable, and (iii)&nbsp;the Covered Person shall execute all papers reasonably required and shall do all things that may be reasonably necessary to secure such rights, including the execution of such documents as may be necessary to enable the Indemnitee-Related Entities effectively to bring suit to enforce such rights.&#160; The Company and the Covered Person agree that each of the Indemnitee-Related Entities shall be third-party beneficiaries with respect to this Section&nbsp;10.02(e), entitled to enforce this Section&nbsp;10.02(e)&nbsp;as though each such Indemnitee-Related Entity were a party to this Agreement.&#160; The Company shall cause each of the Controlled Entities to perform the terms and obligations of this Section&nbsp;10.02(e)&nbsp;as though each such Controlled Entity was the &#147;Company&#148; under this Agreement.&#160; For purposes of this Section&nbsp;10.02(e), the following terms shall have the following meanings:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The term &#147;<u>Indemnitee-Related Entities</u>&#148; means any corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise (other than the Company, any Controlled Entity or the insurer under and pursuant to an insurance policy of the Company or any Controlled Entity) from whom a Covered Person may be entitled to indemnification or advancement of Expenses with respect to which, in whole or in part, the Company or any Controlled Entity may also have an indemnification or advancement obligation.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The term &#147;<u>Jointly Indemnifiable Claims</u>&#148; shall be broadly construed and shall include, without limitation, any claim, demand, action, suit or proceeding for which the Covered Person shall be entitled to indemnification or advancement of Expenses from both (i)&nbsp;the Company and/or any Controlled Entity pursuant to the Indemnification Sources, on the one hand, and (ii)&nbsp;any Indemnitee-Related Entity pursuant to any other agreement between any Indemnitee-Related Entity and the Covered Person pursuant to which the Covered Person is indemnified, the laws of the jurisdiction of incorporation or organization of any Indemnitee-Related Entity and/or the certificate of incorporation, certificate of organization, bylaws, partnership agreement, operating agreement, certificate of formation, certificate of limited partnership or other organizational or governing documents of any Indemnitee-Related Entity, on the other hand.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;XI</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DISSOLUTION AND TERMINATION</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;11.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Dissolution</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company shall not be dissolved by the admission of Additional Members or Substitute Members pursuant to Section&nbsp;3.02.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">No Member shall (i)&nbsp;resign from the Company prior to the dissolution and winding up of the Company except in connection with a Transfer of Units</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">34<a name="26867-3-NN-07_PB_34_155315_8146"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=38,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=56286,FOLIO='34',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-07_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:12 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">pursuant to the terms of this Agreement or (ii)&nbsp;take any action to dissolve, terminate or liquidate the Company or to require apportionment, appraisal or partition of the Company or any of its assets, or to file a bill for an accounting, except as specifically provided in this Agreement, and each Member, to the fullest extent permitted by Applicable Law, hereby waives any rights to take any such actions under Applicable Law, including any right to petition a court for judicial dissolution under Section&nbsp;18-802 of the Delaware Act.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Company shall be dissolved and its business wound up only upon the earliest to occur of any one of the following events (each a &#147;<u>Dissolution Event</u>&#148;):</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The expiration of forty-five (45) days after the sale or other disposition of all or substantially all the assets of the Company; or</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">upon the approval of the Manager.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The death, retirement, resignation, expulsion, bankruptcy, insolvency or dissolution of a Member or the occurrence of any other event that terminates the continued membership of a Member of the Company shall not in and of itself cause dissolution of the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;11.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Winding Up of the Company</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Manager shall promptly notify the other Members of any Dissolution Event.&#160; Upon dissolution, the Company&#146;s business shall be liquidated in an orderly manner.&#160; The Manager shall appoint a liquidating trustee to wind up the affairs of the Company pursuant to this Agreement.&#160; In performing its duties, the liquidating trustee is authorized to sell, distribute, exchange or otherwise dispose of the assets of the Company in accordance with the Delaware Act and in any reasonable manner that the liquidating trustee shall determine to be in the best interest of the Members.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The proceeds of the liquidation of the Company shall be distributed in the following order and priority:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">first</font></u><font size="2" style="font-size:10.0pt;">, to the creditors (including any Members or their respective Affiliates that are creditors) of the Company in satisfaction of all of the Company&#146;s liabilities (whether by payment or by making reasonable provision for payment thereof, including the setting up of any reserves which are, in the judgment of the liquidating trustee, reasonably necessary therefor); and</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">second</font></u><font size="2" style="font-size:10.0pt;">, to the Members in the same manner as distributions under Section&nbsp;5.03(b), subject to Section&nbsp;5.03(e).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Distribution of Property</font></u><font size="2" style="font-size:10.0pt;">.&#160; In the event it becomes necessary in connection with the liquidation of the Company to make a distribution of Property in-kind, subject to the priority set forth in Section&nbsp;11.02, the liquidating trustee shall have the right to compel each Member to accept a distribution of any Property in-kind (with such Property, as a percentage of the total liquidating distributions to such Member,</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">35<a name="26867-3-NN-07_PB_35_155443_7091"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=39,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=414888,FOLIO='35',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-07_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:12 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">corresponding as nearly as possible to such Member&#146;s Relative Percentage Interest), with such distribution being based upon the amount of cash that would be distributed to such Members if such Property were sold for an amount of cash equal to the fair market value of such Property, as determined by the liquidating trustee in good faith.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;11.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Termination</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Company shall terminate when all of the assets of the Company, after payment of or reasonable provision for the payment of all debts and liabilities of the Company, shall have been distributed to the Members in the manner provided for in this Article&nbsp;XI, and the certificate of formation of the Company shall have been cancelled in the manner required by the Delaware Act.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;11.04</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Survival</font></u><font size="2" style="font-size:10.0pt;">.&#160; Termination, dissolution, liquidation or winding up of the Company for any reason shall not release any party from any liability which at the time of such termination, dissolution, liquidation or winding up already had accrued to any other party or which thereafter may accrue in respect to any act or omission prior to such termination, dissolution, liquidation or winding up.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE&nbsp;XII</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">MISCELLANEOUS</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Expenses</font></u><font size="2" style="font-size:10.0pt;">.&#160; All costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the party incurring such cost or expense; provided that Holdco shall reimburse the Manager and the Company for any reasonable expenses incurred on behalf of the Company in accordance with the business and operations of the Company conducted in accordance with the terms hereof.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Further Assurances</font></u><font size="2" style="font-size:10.0pt;">.&#160; Each Member agrees to execute, acknowledge, deliver, file and record such further certificates, amendments, instruments and documents, and to do all such other acts and things, as may be required by law or as, in the reasonable judgment of the Manager, may be necessary or advisable to carry out the intent and purposes of this Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.03</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Notices</font></u><font size="2" style="font-size:10.0pt;">.&#160; All notices, requests and other communications to any party hereunder shall be in writing (including facsimile transmission and electronic mail (&#147;<u>e-mail</u>&#148;) transmission, so long as a receipt of such e-mail is requested and received) and shall be given to such party at the address, facsimile number or e-mail address specified for such party on the Member Schedule&nbsp;hereto or to such other address or facsimile number as such party may hereafter specify for the purpose by notice to the other parties hereto.&#160; All such notices, requests and other communications shall be deemed received on the date of receipt by the recipient thereof if received prior to 5:00&nbsp;p.m. on a Business Day in the place of receipt.&#160; Otherwise, any such notice, request or communication shall be deemed to have been received on the next succeeding Business Day in the place of receipt.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">36<a name="26867-3-NN-07_PB_36_155504_455"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=40,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=747517,FOLIO='36',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-07_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:12 2015' -->

<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.04</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Binding Effect; Benefit; Assignment</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The provisions of this Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns.&#160; No provision of this Agreement is intended to confer any rights, benefits, remedies, obligations or liabilities hereunder upon any Person other than the parties hereto and their respective successors and assigns.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Except as provided in Article&nbsp;VIII, no Member may assign, delegate or otherwise transfer any of its rights or obligations under this Agreement without the consent of the Manager.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.05</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Jurisdiction</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The parties hereto agree that any suit, action or proceeding seeking to enforce any provision of, or based on any matter arising out of or in connection with, this Agreement or the transactions contemplated hereby (whether brought by any party or any of its Affiliates or against any party or any of its Affiliates) shall be brought in the Delaware Chancery Court or, if such court shall not have jurisdiction, any federal court located in the State of Delaware or other Delaware state court, and each of the parties hereby irrevocably consents to the jurisdiction of such courts (and of the appropriate appellate courts therefrom) in any such suit, action or proceeding and irrevocably waives, to the fullest extent permitted by law, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum.&#160; Process in any such suit, action or proceeding may be served on any party anywhere in the world, whether within or without the jurisdiction of any such court.&#160; Without limiting the foregoing, each party agrees that service of process on such party as provided in&nbsp;Section&nbsp;12.03 shall be deemed effective service of process on such party.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">EACH OF THE COMPANY AND THE MEMBERS HEREBY IRREVOCABLY DESIGNATES THE CORPORATION TRUST COMPANY (IN SUCH CAPACITY, THE &#147;<u>PROCESS AGENT</u>&#148;), WITH AN OFFICE AT CORPORATION TRUST CENTER, 1209 ORANGE STREET, WILMINGTON, NEW CASTLE COUNTY, DELAWARE 19801, AS ITS DESIGNEE, APPOINTEE AND AGENT TO RECEIVE, FOR AND ON ITS BEHALF SERVICE OF PROCESS IN SUCH JURISDICTION IN ANY LEGAL ACTION OR PROCEEDINGS WITH RESPECT TO THIS AGREEMENT OR ANY OTHER AGREEMENT EXECUTED IN CONNECTION WITH THIS AGREEMENT, AND SUCH SERVICE SHALL BE DEEMED COMPLETE UPON DELIVERY THEREOF TO THE PROCESS AGENT; <u>PROVIDED</u> THAT IN THE CASE OF ANY SUCH SERVICE UPON THE PROCESS AGENT, THE PARTY EFFECTING SUCH SERVICE SHALL ALSO DELIVER A COPY THEREOF TO EACH OTHER SUCH PARTY BY CERTIFIED MAIL AT THE ADDRESS SPECIFIED FOR SUCH PARTY ON THE MEMBER SCHEDULE HERETO OR TO SUCH OTHER ADDRESS AS SUCH PARTY MAY&nbsp;HEREAFTER SPECIFY FOR THE PURPOSE BY NOTICE TO THE OTHER PARTIES HERETO.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">37<a name="26867-3-NN-09_PB_37_155704_7056"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=41,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=744343,FOLIO='37',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-09_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:12 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">EACH PARTY SHALL TAKE ALL SUCH ACTION AS MAY&nbsp;BE NECESSARY TO CONTINUE SAID APPOINTMENT IN FULL FORCE AND EFFECT OR TO APPOINT ANOTHER AGENT SO THAT SUCH PARTY SHALL AT ALL TIMES HAVE AN AGENT FOR SERVICE OF PROCESS FOR THE ABOVE PURPOSES IN WILMINGTON, DELAWARE.&#160; NOTHING HEREIN SHALL AFFECT THE RIGHT OF ANY PARTY TO SERVE PROCESS IN ANY MANNER PERMITTED BY APPLICABLE LAW.&#160; EACH PARTY EXPRESSLY ACKNOWLEDGES THAT THE FOREGOING WAIVER IS INTENDED TO BE IRREVOCABLE UNDER THE LAWS OF THE STATE OF DELAWARE AND OF THE UNITED STATES OF AMERICA.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.06</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">WAIVER OF JURY TRIAL</font></u><font size="2" style="font-size:10.0pt;">.&#160; EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.07</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Counterparts</font></u><font size="2" style="font-size:10.0pt;">.&#160; This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. Until and unless each party has received a counterpart hereof signed by the other party hereto, this Agreement shall have no effect and no party shall have any right or obligation hereunder (whether by virtue of any other oral or written agreement or other communication).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.08</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Entire Agreement</font></u><font size="2" style="font-size:10.0pt;">.&#160; This Agreement, the other Reorganization Documents and the Grants constitute the entire agreement between the parties with respect to the subject matter of this Agreement and supersede all prior agreements and understandings, both oral and written, between the parties with respect to the subject matter of this Agreement. Nothing in this Agreement shall create any third-party beneficiary rights in favor of any Person or other party hereto, except to the extent provided herein with respect to Indemnitee-Related Entities, SL Members, Holdco or Pubco, each of whom are intended third-party beneficiaries of those provisions that specifically relate to them with the right to enforce such provisions as if they were a party hereto.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.09</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Severability</font></u><font size="2" style="font-size:10.0pt;">.&#160; If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction or other Governmental Authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party.&#160; Upon such a determination, the parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the fullest extent possible.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.10</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Amendment</font></u><font size="2" style="font-size:10.0pt;">.&#160; This Agreement can be amended at any time and from time to time by (i)&nbsp;the Manager and (ii)&nbsp;Holdco without the prior written consent of the Members; <u>provided that</u> without the prior written consent of the SL</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">38<a name="26867-3-NN-09_PB_38_155724_5335"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=42,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=1041254,FOLIO='38',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-09_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:12 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Members, no amendment to this Agreement may adversely modify the express rights of the SL Members set forth in Section&nbsp;9.04 (only so long as the SL Members are entitled to such express rights), Section&nbsp;12.08 and this Section&nbsp;12.10.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.11</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Confidentiality</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Each of the Members shall, and shall direct those of its Affiliates and their respective directors, officers, members, stockholders, partners, employees, attorneys, accountants, consultants, trustees and other advisors (the &#147;<u>Member Parties</u>&#148;) who have access to Confidential Information to, keep confidential and not disclose any Confidential Information to any Person other than a Member Party who agrees to keep such Confidential Information confidential in accordance with this Section&nbsp;12.11, in each case without the express consent, in the case of Confidential Information acquired from the Company or, in the case of Confidential Information acquired from another Member, such other Member, unless:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">such disclosure shall be required by Applicable Law;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">such disclosure is reasonably required in connection with any tax audit involving the Company or any Member or its Affiliates;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">such disclosure is reasonably required in connection with any litigation against or involving the Company or any Member; or</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">such disclosure is reasonably required in connection with any proposed Transfer of all or any part of such Member&#146;s Units in the Company; <u>provided</u> that with respect to any such use of any Confidential Information referred to in this clause (iv), advance notice must be given to the Manager so that it may require any proposed Transferee that is not a Member to enter into a confidentiality agreement with terms substantially similar to the terms of this Section&nbsp;12.11 (excluding this clause (iv)) prior to the disclosure of such Confidential Information.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Confidential Information</u>&#148; means any information related to the activities of the Company, the Members and their respective Affiliates that a Member may acquire from the Company or the Members, other than information that (i)&nbsp;is already available through publicly available sources of information (other than as a result of disclosure by such Member), (ii)&nbsp;was available to a Member on a non-confidential basis prior to its disclosure to such Member by the Company, or (iii)&nbsp;becomes available to a Member on a non-confidential basis from a third party, provided such third party is not known by such Member, after reasonable inquiry, to be bound by this Agreement or another confidentiality agreement with the Company.&#160; Such Confidential Information may include information that&nbsp;pertains or relates to the business and affairs of any other Member or any other Company matters. Confidential Information may be used by a Member and its Member Parties only in connection with Company matters and in connection with the maintenance of its interest in the Company.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">39<a name="26867-3-NN-09_PB_39_155741_5796"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=43,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=1031565,FOLIO='39',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-09_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:12 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">In the event that any Member or any Member Parties of such Member is required to disclose any of the Confidential Information, such Member shall use reasonable efforts to provide the Company with prompt written notice so that the Company may seek a protective order or other appropriate remedy and/or waive compliance with the provisions of this Agreement, and such Member shall use reasonable efforts to cooperate with the Company in any effort any such Person undertakes to obtain a protective order or other remedy.&#160; In the event that such protective order or other remedy is not obtained, or that the Company waives compliance with the provisions of this Section&nbsp;12.11, such Member and its Member Parties shall furnish only that portion of the Confidential Information that is legally required and shall exercise all reasonable efforts to obtain reasonably reliable assurance that the Confidential Information shall be accorded confidential treatment.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Notwithstanding anything in this Agreement to the contrary, each Member may disclose to (i)&nbsp;any persons the U.S. federal income tax treatment and tax structure of the Company or (ii)&nbsp;any subsequent employer the restrictions to which such Member is subject to pursuant to Section&nbsp;9.04.&#160; For purposes of clause (i), &#147;tax structure&#148; is limited to any facts relevant to the U.S. federal income tax treatment of the Company and does not include information relating to the identity of the Company or any Member.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section&nbsp;12.12</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Governing Law</font></u><font size="2" style="font-size:10.0pt;">.&#160; This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to the conflicts of law rules&nbsp;of such State that would result in the application of the laws of any other State.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">[signature pages&nbsp;follow]</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">40<a name="26867-3-NN-09_PB_40_155750_2897"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=44,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=842906,FOLIO='40',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-09_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:12 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IN WITNESS WHEREOF, the parties hereto have caused this Amended and Restated Limited Liability Company Agreement to be duly executed as of the day and year first written above.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 3.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 3.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="49%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:49.58%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIRTU   EMPLOYEE HOLDCO LLC</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.74%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.74%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="42%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:42.74%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>
<td width="42%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:42.74%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.74%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.74%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.74%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="49%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:49.58%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIRTU   FINANCIAL LLC</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="49%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:49.58%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.74%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="42%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:42.74%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>
<td width="42%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:42.74%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.74%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.74%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:6.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="42%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:42.74%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="49%" colspan="2" valign="top" style="border:none;padding:0in 0in 0in 0in;width:49.58%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VINCENT   VIOLA</font></b></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:5.0pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">[Signature Page&nbsp;to Amended and Restated Limited Liability Company Agreement of Virtu Employee Holdco LLC]</font></i></p>
<p style="margin:0in 0in .0001pt;text-indent:5.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=45,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=982910,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-09_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:12 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit&nbsp;A<br>  <u>Form&nbsp;of Exchange Election</u></font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[To come.]</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-1<a name="26867-3-NN-09_PB_1_155957_7748"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=46,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=1022373,FOLIO='A-1',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-09_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:12 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit&nbsp;B<br>  <u>Lock-Up Restrictions</u></font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Except as otherwise provided in this <u>Exhibit&nbsp;B</u>, without the prior written consent of Pubco, the Restricted Member will not directly or indirectly Transfer all or any part of its Pre-IPO Securities or any right or economic interest pertaining thereto, including the right to vote or consent on any matter or receive or have any economic interest in distributions or advances from Pubco or Holdco pursuant thereto (the foregoing restrictions are hereinafter referred to as the &#147;<u>Lock-Up Restrictions</u>&#148;).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Except as may be otherwise expressly provided in such Restricted Member&#146;s Employee Equity Letter, the Lock-Up Restrictions shall cease to apply to the Pre-IPO Securities as follows:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">upon the consummation of the Holdco IPO, each Restricted Member may Transfer up to 15% of its Pre-IPO Securities pursuant to the Equity Purchase Agreements, to the extent such Pre-IPO Securities have vested;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">on and after the first (1</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">st</font><font size="2" style="font-size:10.0pt;">) anniversary of the consummation of the Holdco IPO, each Restricted Member may Transfer up to a cumulative 30% of its Pre-IPO Securities, to the extent such Pre-IPO Securities have vested;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">on and after the second (2</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">nd</font><font size="2" style="font-size:10.0pt;">) anniversary of the consummation of the Holdco IPO, each Restricted Member may Transfer up to a cumulative 45% of its Pre-IPO Securities, to the extent such Pre-IPO Securities have vested;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">on and after the third (3</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">rd</font><font size="2" style="font-size:10.0pt;">) anniversary of the consummation of the Holdco IPO, each Restricted Member may Transfer up to a cumulative 60% of its Pre-IPO Securities, to the extent such Pre-IPO Securities have vested;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">on and after the fourth (4</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font><font size="2" style="font-size:10.0pt;">) anniversary of the consummation of the Holdco IPO, each Restricted Member may Transfer up to a cumulative 75% of its Pre-IPO Securities, to the extent such Pre-IPO Securities have vested;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">on and after the fifth (5</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font><font size="2" style="font-size:10.0pt;">) anniversary of the consummation of the Holdco IPO, each Restricted Member may Transfer up to a cumulative 90% of its Pre-IPO Securities, to the extent such Pre-IPO Securities have vested; and</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">on and after the sixth (6</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font><font size="2" style="font-size:10.0pt;">) anniversary of the consummation of the Holdco IPO, the Lock-Up Restrictions shall no longer apply, and each Restricted Member may Transfer any or all of its remaining Pre-IPO Securities, to the extent such Pre-IPO Securities have vested.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B-1<a name="26867-3-NN-09_PB_1_160023_141"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=47,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=186322,FOLIO='B-1',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-09_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:12 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">For the purposes of paragraph (b)&nbsp;of this <u>Exhibit&nbsp;B</u>, the percentage of Pre-IPO Securities permitted to be Transferred shall be determined based on the total number of shares of Class&nbsp;A Common Stock owned by each Restricted Member as of the date hereof (including any Pre-IPO Securities to be sold thereby pursuant to the Equity Purchase Agreements, but excluding any shares of Class&nbsp;A Common Stock underlying awards under the Virtu Financial,&nbsp;Inc. 2015 Management Incentive Plan (the &#147;<u>Pubco MIP</u>&#148;) made thereto in connection with the IPO) (&#147;<u>IPO Grants</u>&#148;)), in each case, determined on an &#147;as-converted&#148; basis based on the number of shares of Class&nbsp;A Common Stock, in the aggregate and without duplication, into which the Pre-IPO Securities owned of record thereby (whether vested or unvested) are directly or indirectly convertible or exchangeable; <u>provided</u> that, for the purposes of clause (b)(i)&nbsp;only, such total number of Pre-IPO Securities owned by such Restricted Member shall be determined based on the number of such Pre-IPO Securities that would have been owned thereby as of the date of the Reorganization assuming that, for the purposes of reclassifying the limited liability company interests of Holdco into Holdco Common Units pursuant to Section&nbsp;2.1(b)(vi)&nbsp;of the Reorganization Agreement, the Midpoint Liquidation Value was the hypothetical liquidation value of Holdco and the IPO price per share of the Class&nbsp;A Common Stock was the IPO Price Range Midpoint.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Notwithstanding anything herein to the contrary in this Exhibit&nbsp;B, the Lock-Up Restrictions shall not apply to (i)&nbsp;shares of Pubco Common Stock and any securities then convertible into or exchangeable for shares of Pubco Common Stock acquired (x)&nbsp;in open market transactions after the completion of the IPO or (y)&nbsp;pursuant to awards under the Pubco MIP (including any IPO Grants), (ii)&nbsp;the establishment of a trading plan pursuant to Rule&nbsp;10b5-1 under the Exchange Act, for the Transfer of shares of Pubco Common Stock; provided that such plan does not provide for the Transfer of shares of Pubco Common Stock not otherwise permitted pursuant to clause (b)&nbsp;above, (iii)&nbsp;the granting of a revocable proxy to officers or directors of Pubco at the request of the Pubco Board in connection with actions to be taken at annual or special meetings of stockholders or in connection with any action by written consent of the stockholders solicited by the Pubco Board (at such times as action by written consent of stockholders is permitted under the certificate of incorporation of Pubco), (iv)&nbsp;entering into a voting trust, agreement or arrangement (with or without granting a proxy) solely with Pubco and/or its stockholders that (A)&nbsp;is disclosed in writing to the Secretary of Pubco, (B)&nbsp;either has a term not exceeding one (1)&nbsp;year or is terminable by such Restricted Member at any time and (C)&nbsp;does not involve any payment of cash, securities, property or other consideration to such Restricted Member other than the mutual promise to vote Pre-IPO Securities in a designated manner, (v)&nbsp;entering into a customary voting or support agreement (with or without granting a proxy) in connection with&#160; any merger, consolidation or other business combination of Pubco, whether effectuated through one transaction or series of related transactions (including a tender offer followed by a merger in which holders of Class&nbsp;A Common Stock&#160; receive the same consideration per share paid in the tender offer) (a &#147;<u>Business Combination</u>&#148;), (vi)&nbsp;the fact that the spouse of such Restricted Member possesses or obtains an interest in such holder&#146;s Pre-IPO Securities arising solely by reason of the application of the community property laws of any jurisdiction, so long as no other event or circumstance shall exist or have occurred that constitutes a Transfer of such shares of Pre-IPO Securities, (vii)&nbsp;any Transfer in</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B-2<a name="26867-3-NN-09_PB_2_160040_7608"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=48,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=57478,FOLIO='B-2',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-09_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:12 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">connection with, and as contemplated by, the Reorganization Agreement, (viii)&nbsp;any Transfer pursuant to any Business Combination and, to the extent such Business Combination is a Disposition Event, following such Disposition Event (it being understood and agreed that, to the extent such Business Combination is not a Disposition Event, the Lock-Up Restrictions shall continue to apply to any securities into which such Pre-IPO Securities are exchanged or converted in such Business Combination).</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Each Restricted Member also agrees and consents to the entry of stop transfer instructions with Pubco&#146;s transfer agent and registrar against the transfer of each Restricted Member&#146;s shares of Pubco Common Stock except in compliance with this <u>Exhibit&nbsp;B</u>.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">For the avoidance of doubt, in addition to the Lock-Up Restrictions, (i)&nbsp;any Transfer of Common Units shall be subject to the restrictions on Transfer applicable thereto pursuant to the Agreement and (ii)&nbsp;the Attributable Units in which such Restricted Member has an indirect ownership interest shall be subject to the restrictions on exchange set forth in the Exchange Agreement; provided that, the Lock-Up Restrictions shall not preclude such Restricted Member from delivering an Exchange Election in connection with an Exchange (as such term is defined in the Exchange Agreement), so long as such Exchange is not consummated prior to the date such Restricted Member would be entitled to Transfer the shares of Class&nbsp;A Common Stock issuable in such Exchange in accordance with the Lock-Up Restrictions.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">For the purpose of this Exhibit&nbsp;B:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>IPO Price Range Midpoint</u>&#148; means the midpoint of the estimated public offering price range for the Class&nbsp;A Common Stock set forth on the cover page&nbsp;of the preliminary prospectus forming a part of the registration statement on Form&nbsp;S-1 filed by Pubco with the SEC on [&nbsp;&nbsp;&nbsp;], 2015.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Midpoint Liquidation Value</u>&#148; means the aggregate equity value of Holdco as of the date of the Reorganization implied by the IPO Price Range Midpoint.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Pre-IPO Securities</u>&#148; means (i)&nbsp;any Common Units, and (ii)&nbsp;any Holdco Common Units or shares of Pubco Common Stock (x)&nbsp;into which the foregoing are converted or exchanged (including pursuant to an exchange of Holdco Common Units, together with shares of Class&nbsp;C Common Stock, for shares of Class&nbsp;A Common Stock pursuant to the Exchange Agreement) or (y)&nbsp;that are distributed in respect of the foregoing.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Transfer</u>&#148; means any offer, sale, contract to sell, grant of an option to purchase, short sale, assignment, transfer, exchange, gift, bequest, pledge or other disposition or encumbrance, direct or indirect, in whole or in part, by operation of law or otherwise.&#160; The foregoing restriction is expressly agreed to preclude the relevant person from engaging in any hedging or other transaction which is designed to or which reasonably could be expected to lead to or result in a sale or disposition of the</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B-3<a name="26867-3-NN-09_PB_3_160110_8146"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=49,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=187200,FOLIO='B-3',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-09_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:12 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">referent securities even if such securities would be disposed of by someone other than such person. Such prohibited hedging or other transactions would include any short sale or any purchase, sale or grant of any right (including any put or call option) with respect to any of the referent securities or with respect to any security that includes, relates to, or derives any significant part of its value from such securities.&#160; The terms &#147;<u>Transferred</u>&#148;, &#147;<u>Transferring</u>&#148;, &#147;<u>Transferor</u>&#148;, &#147;<u>Transferee</u>&#148; and &#147;<u>Transferable</u>&#148; have meanings correlative to the foregoing.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B-4<a name="26867-3-NN-09_PB_4_160122_7091"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=50,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="8",CHK=602713,FOLIO='B-4',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NN-09_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 20:12 2015' -->

<BR>
<!-- TOCEXISTFLAG -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.14
<SEQUENCE>9
<FILENAME>a2223212zex-10_14.htm
<DESCRIPTION>EX-10.14
<TEXT>
<HTML>
<HEAD>
</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>
<div style="font-family:Times New Roman;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 10.14</font></b></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Virtu Financial,&nbsp;Inc. 2015 Management Incentive Plan</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.</font></b><b><font size="1" style="font-size:8.5pt;font-weight:bold;">&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Purpose</font></b><font size="2" style="font-size:10.0pt;">.&#160; The Virtu Financial,&nbsp;Inc. 2015 Management Incentive Plan (the &#147;<b><i style="font-weight:bold;">Plan</i></b>&#148;) is intended to help Virtu Financial,&nbsp;Inc., a Delaware corporation (including any successor thereto, the &#147;<b><i style="font-weight:bold;">Company</i></b>&#148;) and its Affiliates (i)&nbsp;attract and retain key personnel by providing them the opportunity to acquire an equity interest in the Company or other incentive compensation measured by reference to the value of Common Stock and (ii)&nbsp;align the interests of key personnel with those of the Company&#146;s shareholders.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.</font></b><b><font size="1" style="font-size:8.5pt;font-weight:bold;">&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Effective Date; Duration.</font></b><font size="2" style="font-size:10.0pt;">&#160; The Plan shall be effective as of [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], 2015 (the &#147;<b><i style="font-weight:bold;">Effective Date</i></b>&#148;).&#160; The expiration date of the Plan, on and after which date no Awards may be granted, shall be the tenth anniversary of the Effective Date; <u>provided</u>, <u>however</u>, that such expiration shall not affect Awards then outstanding, and the terms and conditions of the Plan shall continue to apply to such Awards.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">3.</font></b><b><font size="1" style="font-size:8.5pt;font-weight:bold;">&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Definitions.</font></b><font size="2" style="font-size:10.0pt;">&#160; The following definitions shall apply throughout the Plan.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Affiliate</u>&#148; means (i)&nbsp;any person or entity that directly or indirectly controls, is controlled by or is under common control with the Company and/or (ii)&nbsp;to the extent provided by the Committee, any person or entity in which the Company has a significant interest.&#160; The term &#147;control&#148; (including, with correlative meaning, the terms &#147; controlled by&#148; and &#147;under common control with&#148;), as applied to any person or entity, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such person or entity, whether through the ownership of voting or other securities, by contract or otherwise.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Award</u>&#148; means, individually or collectively, any Incentive Stock Option, Nonqualified Stock Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, Other Stock-Based Award and/or Performance Compensation Award granted under the Plan.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Beneficial Ownership</u>&#148; has the meaning set forth in Rule&nbsp;13d-3 promulgated under Section&nbsp;13 of the Exchange Act.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Board</u>&#148; means the Board of Directors of the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Cause</u>&#148; means, in the case of a particular Award, unless the applicable Award agreement states otherwise, the Company or an Affiliate having &#147;cause&#148; to terminate the Participant&#146;s employment or service, (i)&nbsp;as such term is defined in any employment, consulting, change-in-control, severance or any other agreement between the Participant and the Company or an Affiliate in effect at the time of such termination or (ii)&nbsp;in the absence of any such employment, consulting, change-in-control, severance or other agreement (or the absence of any definition of &#147;cause&#148; or term of similar import therein), due to the Participant&#146;s (A)&nbsp;willful misconduct or gross neglect of his duties; (B)&nbsp;having engaged in conduct harmful (whether financially, reputationally or otherwise) to the Company or an Affiliate; (C)&nbsp;failure or refusal to perform his duties; (D)&nbsp;conviction of, or guilty or no contest plea to, a felony or any crime involving dishonesty or moral turpitude; (E)&nbsp;willful violation of the written policies of the Company or an Affiliate; (F)&nbsp;misappropriation or misuse of Company or Affiliate funds or property or other act of personal dishonesty in connection with his employment; or (G)&nbsp;willful breach of fiduciary duty.&#160; The determination of whether Cause exists shall be made by the Committee in its sole discretion.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Change in Control</u>&#148; shall, in the case of a particular Award, unless the applicable Award agreement (or any employment, consulting, change-in-control, severance or other agreement between the Participant and the Company or an Affiliate) states otherwise, be deemed to occur upon any of the following events:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=1,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="9",CHK=682227,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NR-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 19 21:37 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the acquisition by any Person of Beneficial Ownership of 30% or more (on a fully diluted basis) of either (A)&nbsp;the then outstanding shares of Common Stock, including Common Stock issuable upon the exercise of options or warrants, the conversion of convertible stock or debt, and the exercise of any similar right to acquire such Common Stock (the &#147;<b><i style="font-weight:bold;">Outstanding Company Common Stock</i></b>&#148;); or (B)&nbsp;the combined voting power of the then outstanding voting securities of the Company entitled to vote in the election of directors (the &#147;<b><i style="font-weight:bold;">Outstanding Company Voting Securities</i></b>&#148;); but excluding any acquisition by the Company or any of its Affiliates, or by Vincent Viola, his Permitted Transferees or any of their respective Affiliates or by any employee benefit plan sponsored or maintained by the Company or any of its Affiliates;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">a change in the composition of the Board such that members of the Board during any consecutive 12-month period (the &#147;<b><i style="font-weight:bold;">Incumbent Directors</i></b>&#148;) cease to constitute a majority of the Board.&#160; Any person becoming a director through election or nomination for election approved by a valid vote of at least two-thirds of the Incumbent Directors shall be deemed an Incumbent Director; <u>provided</u>, <u>however</u>, that no individual becoming a director as a result of an actual or threatened election contest, as such terms are used in Rule&nbsp;14a-12 of Regulation 14A promulgated under the Exchange Act, or as a result of any other actual or threatened solicitation of proxies or consents by or on behalf of any person other than the Board shall be deemed to be an Incumbent Director;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the approval by the shareholders of the Company of a plan of complete dissolution or liquidation of the Company; or</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the consummation of a reorganization, recapitalization, merger, consolidation, statutory share exchange or similar form of corporate transaction involving the Company (a &#147;<b><i style="font-weight:bold;">Business Combination</i></b>&#148;), or sale, transfer or other disposition of all or substantially all of the business or assets of the Company to an entity that is not an Affiliate of the Company (a &#147;<b><i style="font-weight:bold;">Sale</i></b>&#148;), unless immediately following such Business Combination or Sale:&#160; (A)&nbsp;more than 50% of the total voting power of the entity resulting from such Business Combination or the entity that acquired all or substantially all of the business or assets of the Company in such Sale (in either case, the &#147;<b><i style="font-weight:bold;">Surviving Company</i></b>&#148;), or the ultimate parent entity that has Beneficial Ownership of sufficient voting power to elect a majority of the board of directors (or analogous governing body) of the Surviving Company (the &#147;<b><i style="font-weight:bold;">Parent Company</i></b>&#148;), is represented by the Outstanding Company Voting Securities that were outstanding immediately prior to such Business Combination or Sale (or, if applicable, is represented by shares into which the Outstanding Company Voting Securities were converted pursuant to such Business Combination or Sale), and such voting power among the holders thereof is in substantially the same proportion as the voting power of the Outstanding Company Voting Securities among the holders thereof immediately prior to the Business Combination or Sale, (B)&nbsp;no Person (other than any employee benefit plan sponsored or maintained by the Surviving Company or the Parent Company), is or becomes the beneficial owner, directly or indirectly, of 30% or more of the total voting power of the outstanding voting securities eligible to elect members of the board of directors (or the analogous governing body) of the Parent Company (or, if there is no Parent Company, the Surviving Company) and (C)&nbsp;at least a majority of the members of the board of directors (or the analogous governing body) of the Parent Company (or, if there is no Parent Company, the Surviving Company) following the consummation of the Business Combination or Sale were Board members at the time of the Board&#146;s approval of the execution of the initial agreement providing for such Business Combination or Sale.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2<a name="26867-3-NR-01_PB_2_053327_7056"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=2,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="9",CHK=610921,FOLIO='2',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NR-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 19 21:37 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Class&nbsp;A Common Stock</u>&#148; means the Class&nbsp;A common stock of the Company, par value $0.00001 per share (and any stock or other securities into which such common shares may be converted or into which it may be exchanged).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Code</u>&#148; means the U.S. Internal Revenue Code of 1986, as amended, and any successor thereto.&#160; References to any section of the Code shall be deemed to include any regulations or other interpretative guidance under such section, and any amendments or successors thereto.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Committee</u>&#148; means the Compensation Committee of the Board or subcommittee thereof if required with respect to actions taken to obtain the exception for performance-based compensation under Section&nbsp;162(m)&nbsp;of the Code or to comply with Rule&nbsp;16b-3 promulgated under the Exchange Act in respect of Awards or, if no such Compensation Committee or subcommittee thereof exists, the Board.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Common Stock</u>&#148; means collectively or individually the Class&nbsp;A Common Stock.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(k)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Disability</u>&#148; means cause for termination of the Participant&#146;s employment or service due to a determination that the Participant is disabled in accordance with a long-term disability insurance program maintained by the Company or a determination by the U.S. Social Security Administration that the Participant is totally disabled.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(l)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Eligible Person</u>&#148; means any (i)&nbsp;individual employed by the Company or an Affiliate; <u>provided</u>, <u>however</u>, that no such employee covered by a collective bargaining agreement shall be an Eligible Person; (ii)&nbsp;director or officer of the Company or an Affiliate; (iii)&nbsp;consultant or advisor to the Company or an Affiliate who may be offered securities registrable on Form&nbsp;S-8 under the Securities Act; or (iv)&nbsp;prospective employee, director, officer, consultant or advisor who has accepted an offer of employment or consultancy from the Company or its Affiliates (and would satisfy the provisions of clauses (i)&nbsp;through (iii)&nbsp;above once he begins employment with or providing services to the Company or its Affiliates.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(m)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Exchange Act</u>&#148; means the U.S. Securities Exchange Act of 1934, as amended, and any successor thereto.&#160; References to any section of (or rule&nbsp;promulgated under) the Exchange Act shall be deemed to include any rules, regulations or other interpretative guidance under such section or rule, and any amendments or successors thereto.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(n)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Fair Market Value</u>&#148; means, on a given date, (i)&nbsp;if the Common Stock is listed on a national securities exchange, the closing sales price of the Common Stock reported on such exchange on such date, or, if there is no such sale on that date, then on the last preceding date on which such a sale was reported; or (ii)&nbsp;if the Common Stock is not listed on any national securities exchange, the amount determined by the Committee in good faith to be the fair market value of the Common Stock.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(o)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Incentive Stock Option</u>&#148; means an Option which is designated by the Committee as an incentive stock option as described in Section&nbsp;422 of the Code and otherwise meets the requirements set forth in the Plan.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(p)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>NASDAQ</u>&#148; means The Nasdaq Global Market.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(q)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Nonqualified Stock Option</u>&#148; means an Option which is not designated by the Committee as an Incentive Stock Option.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(r)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Option</u>&#148; means an Award granted under Section&nbsp;7 of the Plan.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3<a name="26867-3-NR-01_PB_3_053400_5335"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=3,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="9",CHK=911048,FOLIO='3',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NR-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 19 21:37 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(s)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Performance Compensation Award</u>&#148; means an Award designated by the Committee as a Performance Compensation Award pursuant to Section&nbsp;11 of the Plan.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(t)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Performance Criteria</u>&#148; shall mean the criterion or criteria that the Committee shall select for purposes of establishing the Performance Goal(s)&nbsp;for a Performance Period with respect to any Performance Compensation Award under the Plan.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(u)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Performance Formula</u>&#148; shall mean, for a Performance Period, the one or more objective formulae applied against the relevant Performance Goal to determine, with regard to the Performance Compensation Award of a particular Participant, whether all, some portion but less than all, or none of the Performance Compensation Award has been earned for the Performance Period.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Performance Goals</u>&#148; shall mean, for a Performance Period, the one or more goals established by the Committee for the Performance Period based upon the Performance Criteria.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(w)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Performance Period</u>&#148; shall mean the one or more periods of time as the Committee may select, over which the attainment of one or more Performance Goals will be measured for the purpose of determining the Participant&#146;s right to, and the payment of, a Performance Compensation Award.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(x)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Person</u>&#148; has the meaning given in Section&nbsp;3(a)(9)&nbsp;of the Exchange Act, as modified and used in Sections 13(d)&nbsp;and 14(d)&nbsp;thereof, except that such term shall not include (i)&nbsp;the Company or any of its subsidiaries, (ii)&nbsp;a trustee or other fiduciary holding securities under an employee benefit plan of the Company or any of its Affiliates, (iii)&nbsp;an underwriter temporarily holding securities pursuant to an offering of such securities, or (iv)&nbsp;a corporation owned, directly or indirectly, by the shareholders of the Company in substantially the same proportions as their ownership of Common Stock of the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(y)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Restricted Stock</u>&#148; means an Award of Common Stock, subject to certain specified restrictions, granted under Section&nbsp;9 of the Plan.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(z)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Restricted Stock Unit</u>&#148; means an Award of an unfunded and unsecured promise to deliver shares of Common Stock, cash, other securities or other property, subject to certain specified restrictions, granted under Section&nbsp;9 of the Plan.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(aa)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Securities Act</u>&#148; means the U.S. Securities Act of 1933, as amended, and any successor thereto.&#160; Reference in the Plan to any section of (or rule&nbsp;promulgated under) the Securities Act shall be deemed to include any rules, regulations or other interpretative guidance under such section or rule, and any amendments or successor provisions to such section, rules, regulations or guidance.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(bb)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<u>Stock Appreciation Right</u>&#148; or &#147;<u>SAR</u>&#148; means an Award granted under Section&nbsp;8 of the Plan.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">4.</font></b><b><font size="1" style="font-size:8.5pt;font-weight:bold;">&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Administration.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Committee shall administer the Plan, and shall have the sole and plenary authority to:&#160; (i)&nbsp;designate Participants; (ii)&nbsp;determine the type, size, and terms and conditions of Awards to be granted; (iii)&nbsp;determine the method by which an Award may be settled, exercised, canceled, forfeited, or suspended; (iv)&nbsp;determine the circumstances under which the delivery of cash, property or other amounts payable with respect to an Award may be deferred either automatically or at the Participant&#146;s or Committee&#146;s election; (v)&nbsp;interpret and administer, reconcile any inconsistency in, correct any defect in and/or supply any omission in the Plan and any Award granted under, the Plan; (vi)&nbsp;establish, amend, suspend, or waive any rules&nbsp;and regulations and appoint such agents as the Committee shall deem</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4<a name="26867-3-NR-01_PB_4_053437_5796"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=4,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="9",CHK=694889,FOLIO='4',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NR-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 19 21:37 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">appropriate for the proper administration of the Plan; (vii)&nbsp;accelerate the vesting, delivery or exercisability of, payment for or lapse of restrictions on, or waive any condition in respect of, Awards; and (viii)&nbsp;make any other determination and take any other action that the Committee deems necessary or desirable for the administration of the Plan or to comply with any applicable law, including Section&nbsp;162(m)&nbsp;of the Code.&#160; To the extent required to comply with the provisions of Rule&nbsp;16b-3 promulgated under the Exchange Act (if applicable and if the Board is not acting as the Committee under the Plan) or necessary to obtain the exception for performance-based compensation under Section&nbsp;162(m)&nbsp;of the Code, or any exception or exemption under the rules&nbsp;of NASDAQ or any other securities exchange or inter-dealer quotation service on which the Common Stock is listed or quoted, as applicable, it is intended that each member of the Committee shall, at the time he takes any action with respect to an Award under the Plan, be (i)&nbsp;a &#147;non-employee director&#148; within the meaning of Rule&nbsp;16b-3 promulgated under the Exchange Act and (ii)&nbsp;an &#147;outside director&#148; within the meaning of Section&nbsp;162(m)&nbsp;of the Code and/or (iii)&nbsp;an &#147;independent director&#148; under the rules&nbsp;of NASDAQ or any other securities exchange or inter-dealer quotation service on which the Common Stock is listed or quoted (&#147;<b><i style="font-weight:bold;">Eligible Director</i></b>&#148;).&#160; However, the fact that a Committee member shall fail to qualify as an Eligible Director shall not invalidate any Award granted or action taken by the Committee that is otherwise validly granted or taken under the Plan.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Committee may allocate all or any portion of its responsibilities and powers to any one or more of its members and may delegate all or any part of its responsibilities and powers to any person(s)&nbsp;selected by it, except for grants of Awards to persons (i)&nbsp;who are non-employee members of the Board or otherwise are subject to Section&nbsp;16 of the Exchange Act or (ii)&nbsp;who are or may reasonably be expected to be &#147;covered employees&#148; for purposes of Section&nbsp;162(m)&nbsp;of the Code.&#160; Any such allocation or delegation may be revoked by the Committee at any time.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">As further set forth in Section&nbsp;15(f)&nbsp;of the Plan, the Committee shall have the authority to amend the Plan and Awards to the extent necessary to permit participation in the Plan by Eligible Persons who are located outside of the United States on terms and conditions comparable to those afforded to Eligible Persons located within the United States; <u>provided</u>, <u>however</u>, that no such action shall be taken without shareholder approval if such approval is required by applicable law or regulation.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Unless otherwise expressly provided in the Plan, all designations, determinations, interpretations, and other decisions regarding the Plan or any Award or any documents evidencing Awards granted pursuant to the Plan shall be within the sole discretion of the Committee, may be made at any time and shall be final, conclusive and binding upon all persons or entities, including, without limitation, the Company, any Affiliate, any Participant, any holder or beneficiary of any Award, and any shareholder of the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">No member of the Board, the Committee or any employee or agent of the Company (each such person, an &#147;<b><i style="font-weight:bold;">Indemnifiable Person</i></b>&#148;) shall be liable for any action taken or omitted to be taken or any determination made with respect to the Plan or any Award hereunder (unless constituting fraud or a willful criminal act or omission).&#160; Each Indemnifiable Person shall be indemnified and held harmless by the Company against and from any loss, cost, liability, or expense (including attorneys&#146; fees) that may be imposed upon or incurred by such Indemnifiable Person in connection with or resulting from any action, suit or proceeding to which such Indemnifiable Person may be involved as a party, witness or otherwise by reason of any action taken or omitted to be taken or determination made under the Plan or any Award agreement and against and from any and all amounts paid by such Indemnifiable Person with the Company&#146;s approval (not to be unreasonably withheld), in settlement thereof, or paid by such Indemnifiable Person in satisfaction of any judgment in any such action, suit or proceeding against such Indemnifiable Person, and the Company shall advance to such Indemnifiable Person any such expenses promptly upon written request (which request shall include an undertaking by the Indemnifiable Person to repay the amount of such advance if it shall ultimately be determined as provided below that the</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5<a name="26867-3-NR-01_PB_5_053507_2897"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=5,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="9",CHK=68646,FOLIO='5',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NR-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 19 21:37 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Indemnifiable Person is not entitled to be indemnified); <u>provided</u>, that the Company shall have the right, at its own expense, to assume and defend any such action, suit or proceeding and once the Company gives notice of its intent to assume the defense, the Company shall have sole control over such defense with counsel of recognized standing of the Company&#146;s choice.&#160; The foregoing right of indemnification shall not be available to an Indemnifiable Person to the extent that a final judgment or other final adjudication (in either case not subject to further appeal) binding upon such Indemnifiable Person determines that the acts or omissions or determinations of such Indemnifiable Person giving rise to the indemnification claim resulted from such Indemnifiable Person&#146;s fraud or willful criminal act or omission or that such right of indemnification is otherwise prohibited by law or by the Company&#146;s Certificate of Incorporation or By-laws.&#160; The foregoing right of indemnification shall not be exclusive of or otherwise supersede any other rights of indemnification to which such Indemnifiable Persons may be entitled under the Company&#146;s Certificate of Incorporation or By-laws, as a matter of law, individual indemnification agreement or contract or otherwise, or any other power that the Company may have to indemnify such Indemnifiable Persons or hold them harmless.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Board may at any time and from time to time, grant Awards and administer the Plan with respect to such Awards.&#160; In any such case, the Board shall have all the authority granted to the Committee under the Plan.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">5.</font></b><b><font size="1" style="font-size:8.5pt;font-weight:bold;">&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Grant of Awards; Shares Subject to the Plan; Limitations.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Committee may grant Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Other Stock-Based Awards and/or Performance Compensation Awards to one or more Eligible Persons.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Subject to Section&nbsp;12 of the Plan and subsection (e)&nbsp;below, the following limitations apply to the grant of Awards:&#160; (i)&nbsp;no more than [</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">] shares of Class&nbsp;A Common Stock may be delivered in the aggregate pursuant to Awards granted under the Plan; (ii)&nbsp;no more than [</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">] shares of Class&nbsp;A Common Stock may be subject to grants of Options or SARs under the Plan to any single Participant during any 12-month period; <u>provided</u>,<u> however</u>, that the limitation set forth in this clause (ii)&nbsp;shall not apply to the initial grant of Options to Vincent Viola in connection with the Company&#146;s initial public offering; (iii)&nbsp;no more than [</font><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="2" style="font-size:10.0pt;">] shares of Class&nbsp;A Common Stock may be delivered pursuant to the exercise of Incentive Stock Options granted under the Plan; (iv)&nbsp;no more than 1,000,000 shares of Class&nbsp;A Common Stock may be delivered in respect of Performance Compensation Awards denominated in shares of Common Stock granted pursuant to Section&nbsp;11 of the Plan to any Participant for a single Performance Period (or with respect to each single fiscal year in the event a Performance Period extends beyond a single fiscal year), or in the event such Performance Compensation Award is paid in cash, other securities, other Awards or other property, no more than the Fair Market Value of 1,000,000 shares of Class&nbsp;A Common Stock on the last day of the Performance Period to which such Award relates; and (v)&nbsp;the maximum amount that can be paid to any individual Participant for a single fiscal year during a Performance Period (or with respect to each single year in the event a Performance Period extends beyond a single year) pursuant to a Performance Compensation Award denominated in cash described in Section&nbsp;11(a)&nbsp;of the Plan shall be $10,000,000.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Shares of Common Stock shall be deemed to have been used in settlement of Awards whether or not they are actually delivered or the Fair Market Value equivalent of such shares is paid in cash; <u>provided</u>, <u>however</u>, that if shares of Common Stock issued upon exercise, vesting or settlement of an Award, or shares of Common Stock owned by the Participant are surrendered or tendered to the Company in payment of the Exercise Price or any taxes required to be withheld in respect of an Award, in each case, in accordance with the terms and conditions of the Plan and any applicable Award agreement, such surrendered or tendered shares shall again become available for other Awards; <u>provided</u>, <u>further</u>, that</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6<a name="26867-3-NR-01_PB_6_053534_3020"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=6,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="9",CHK=478565,FOLIO='6',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NR-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 19 21:37 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">in no event shall such shares increase the number of shares of Common Stock that may be delivered pursuant to Incentive Stock Options.&#160; If and to the extent all or any portion of an Award expires, terminates or is canceled or forfeited for any reason without the Participant having received any benefit therefrom, the shares covered by such Award or portion thereof shall again become available for other Awards.&#160; For purposes of the foregoing sentence, the Participant shall not be deemed to have received any &#147;benefit&#148; (i)&nbsp;in the case of forfeited Restricted Stock by reason of having enjoyed voting rights and dividend rights prior to the date of forfeiture or (ii)&nbsp;in the case of an Award canceled by reason of a new Award being granted in substitution therefor.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Shares of Common Stock delivered by the Company in settlement of Awards may be authorized and unissued shares, shares held in the treasury of the Company, shares purchased on the open market or by private purchase, or a combination of the foregoing.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Committee may grant Awards in assumption of, or in substitution for, outstanding awards previously granted by the Company or any Affiliate or an entity directly or indirectly acquired by the Company or with which the Company combines (&#147;<b><i style="font-weight:bold;">Substitute Awards</i></b>&#148;), and such Substitute Awards shall not be counted against the aggregate number of shares of Common Stock available for Awards; <u>provided</u>, that Substitute Awards issued or intended as &#147;incentive stock options&#148; within the meaning of Section&nbsp;422 of the Code shall be counted against the aggregate number of Incentive Stock Options available under the Plan.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">6.</font></b><b><font size="1" style="font-size:8.5pt;font-weight:bold;">&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Eligibility.&#160; </font></b><font size="2" style="font-size:10.0pt;">Participation shall be limited to Eligible Persons who have been selected by the Committee and who have entered into an Award agreement with respect to an Award granted to them under the Plan (each such Eligible Person, a &#147;<b><i style="font-weight:bold;">Participant</i></b>&#148;).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">7.</font></b><b><font size="1" style="font-size:8.5pt;font-weight:bold;">&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Options.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Generally.</font></u><font size="2" style="font-size:10.0pt;">&#160; Each Option shall be subject to the conditions set forth in the Plan and in the Award agreement.&#160; All Options granted under the Plan shall be Nonqualified Stock Options unless the Award agreement expressly states otherwise.&#160; Incentive Stock Options shall be granted only subject to and in compliance with Section&nbsp;422 of the Code, and only to Eligible Persons who are employees of the Company and its Affiliates and who are eligible to receive an Incentive Stock Option under the Code.&#160; If for any reason an Option intended to be an Incentive Stock Option (or any portion thereof) shall not qualify as an Incentive Stock Option, then, to the extent of such nonqualification, such Option or portion thereof shall be regarded as a Nonqualified Stock Option appropriately granted under the Plan.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Exercise Price.</font></u><font size="2" style="font-size:10.0pt;">&#160; The exercise price (&#147;<b><i style="font-weight:bold;">Exercise Price</i></b>&#148;) per share of Common Stock for each Option shall not be less than 100% of the Fair Market Value of such share, determined as of the date of grant.&#160; Any modification to the Exercise Price of an outstanding Option shall be subject to the prohibition on repricing set forth in Section&nbsp;14(b).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Vesting, Exercise and Expiration.</font></u><font size="2" style="font-size:10.0pt;">&#160; The Committee shall determine the manner and timing of vesting, exercise and expiration of Options.&#160; The period between date of grant and the scheduled expiration date of the Option (&#147;<b><i style="font-weight:bold;">Option Period</i></b>&#148;) shall not exceed ten years, unless the Option Period (other than in the case of an Incentive Stock Option) would expire at a time when trading in the shares of Common Stock is prohibited by the Company&#146;s securities trading policy or a Company-imposed &#147;blackout period&#148;, in which case the Option Period shall be automatically extended until the 30th day following the expiration of such prohibition (so long as such extension shall not violate Section&nbsp;409A of the Code). The Committee may accelerate the vesting and/or exercisability of any Option, which acceleration shall not affect any other terms and conditions of such Option.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7<a name="26867-3-NR-01_PB_7_053610_7748"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=7,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="9",CHK=746232,FOLIO='7',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NR-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 19 21:37 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Method of Exercise and Form&nbsp;of Payment.</font></u><font size="2" style="font-size:10.0pt;">&#160; No shares of Common Stock shall be delivered pursuant to any exercise of an Option until the Participant has made payment in full to the Company of the Exercise Price and an amount equal to any U.S. Federal, state and local income and employment taxes and non-U.S. income and employment taxes, social contributions and any other tax-related items required to be withheld.&#160; Options may be exercised by delivery of written or electronic notice of exercise to the Company or its designee (including a third party administrator) in accordance with the terms of the Option accompanied by payment of the Exercise Price.&#160; The Exercise Price and all applicable required withholding taxes shall be payable (i)&nbsp;in cash, check, cash equivalent and/or shares of Common Stock valued at the Fair Market Value at the time the Option is exercised (including, pursuant to procedures approved by the Committee, by means of attestation of ownership of a sufficient number of shares of Common Stock in lieu of actual delivery of such shares to the Company); <u>provided</u>, that such shares of Common Stock are not subject to any pledge or other security interest; or (ii)&nbsp;by such other method as the Committee may permit, including without limitation:&#160; (A)&nbsp;in other property having a Fair Market Value on the date of exercise equal to the Exercise Price and all applicable required withholding taxes; (B)&nbsp;if there is a public market for the shares of Common Stock at such time, by means of a broker-assisted &#147;cashless exercise&#148; pursuant to which the Company is delivered a copy of irrevocable instructions to a stockbroker to sell the shares of Common Stock otherwise deliverable upon the exercise of the Option and to deliver promptly to the Company an amount equal to the Exercise Price and all applicable required withholding taxes; or (C)&nbsp;by means of a &#147;net exercise&#148; procedure effected by withholding the minimum number of shares of Common Stock otherwise deliverable in respect of an Option that are needed to pay for the Exercise Price and all applicable required withholding taxes.&#160; Notwithstanding the foregoing, unless otherwise determined by the Committee, if on the last day of the Option Period, the Fair Market Value exceeds the Exercise Price, the Participant has not exercised the Option, and the Option has not expired, such Option shall be deemed to have been exercised by the Participant on such last day by means of a &#147;net exercise&#148; procedure described above.&#160; Any fractional shares of Common Stock shall be settled in cash.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Notification upon Disqualifying Disposition of an Incentive Stock Option.</font></u><font size="2" style="font-size:10.0pt;">&#160; Each Participant awarded an Incentive Stock Option under the Plan shall notify the Company in writing immediately after the date he makes a disqualifying disposition of any Common Stock acquired pursuant to the exercise of such Incentive Stock Option.&#160; A disqualifying disposition is any disposition (including, without limitation, any sale) of such Common Stock before the later of (A)&nbsp;two years after the date of grant of the Incentive Stock Option or (B)&nbsp;one year after the date of exercise of the Incentive Stock Option.&#160; The Company may, if determined by the Committee and in accordance with procedures established by the Committee, retain possession, as agent for the applicable Participant, of any Common Stock acquired pursuant to the exercise of an Incentive Stock Option until the end of the period described in the preceding sentence, subject to complying with any instruction from such Participant as to the sale of such Common Stock.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Compliance with Laws,&nbsp;etc.</font></u><font size="2" style="font-size:10.0pt;">&#160; Notwithstanding the foregoing, in no event shall the Participant be permitted to exercise an Option in a manner which the Committee determines would violate the Sarbanes-Oxley Act of 2002, or any other applicable law or the applicable rules&nbsp;and regulations of the Securities and Exchange Commission or the applicable rules&nbsp;and regulations of any securities exchange or inter-dealer quotation service on which the Common Stock of the Company is listed or quoted.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Incentive Stock Option Grants to 10% Shareholders.</font></u><font size="2" style="font-size:10.0pt;">&#160; Notwithstanding anything to the contrary in this Section&nbsp;7, if an Incentive Stock Option is granted to a Participant who owns stock representing more than ten percent of the voting power of all classes of stock of the Company or of a subsidiary or a parent of the Company, the Option Period shall not exceed five years from the date of</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8<a name="26867-3-NR-01_PB_8_053632_141"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=8,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="9",CHK=164139,FOLIO='8',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NR-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 19 21:37 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">grant of such Option and the Option Price shall be at least 110% of the Fair Market Value (on the date of grant) of the shares subject to the Option.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">$100,000 Per Year Limitation for Incentive Stock Options.</font></u><font size="2" style="font-size:10.0pt;">&#160; To the extent the aggregate Fair Market Value (determined as of the date of grant) of shares of Common Stock for which Incentive Stock Options are exercisable for the first time by any Participant during any calendar year (under all plans of the Company) exceeds $100,000, such excess Incentive Stock Options shall be treated as Nonqualified Stock Options.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">8.</font></b><b><font size="1" style="font-size:8.5pt;font-weight:bold;">&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Stock Appreciation Rights (SARs).</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Generally.</font></u><font size="2" style="font-size:10.0pt;">&#160; Each SAR shall be subject to the conditions set forth in the Plan and the Award agreement.&#160; Any Option granted under the Plan may include a tandem SAR.&#160; The Committee also may award SARs independent of any Option.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Strike Price.</font></u><font size="2" style="font-size:10.0pt;">&#160; The strike price (&#147;<b><i style="font-weight:bold;">Strike Price</i></b>&#148;) per share of Common Stock for each SAR shall not be less than 100% of the Fair Market Value of such share (determined as of the date of grant); <u>provided</u>, <u>however</u>, that a SAR granted in tandem with (or in substitution for) an Option previously granted shall have a Strike Price equal to the Exercise Price of the corresponding Option.&#160; Any modification to the Strike Price of an outstanding SAR shall be subject to the prohibition on repricing set forth in Section&nbsp;14(b).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Vesting and Expiration.</font></u><font size="2" style="font-size:10.0pt;">&#160; A SAR granted in tandem with an Option shall become exercisable and shall expire according to the same vesting schedule and expiration provisions as the corresponding Option.&#160; A SAR granted independently of an Option shall vest and become exercisable and shall expire in such manner and on such date or dates determined by the Committee and shall expire after such period, not to exceed ten years, as may be determined by the Committee (the &#147;<b><i style="font-weight:bold;">SAR Period</i></b>&#148;); <u>provided</u>, <u>however</u>, that notwithstanding any vesting or exercisability dates set by the Committee, the Committee may accelerate the vesting and/or exercisability of any SAR, which acceleration shall not affect the terms and conditions of such SAR other than with respect to vesting and/or exercisability.&#160; If the SAR Period would expire at a time when trading in the shares of Common Stock is prohibited by the Company&#146;s securities trading policy or a Company-imposed &#147;blackout period&#148;, the SAR Period shall be automatically extended until the 30th day following the expiration of such prohibition (so long as such extension shall not violate Section&nbsp;409A of the Code).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Method of Exercise.</font></u><font size="2" style="font-size:10.0pt;">&#160; SARs may be exercised by delivery of written or electronic notice of exercise to the Company or its designee (including a third party administrator) in accordance with the terms of the Award, specifying the number of SARs to be exercised and the date on which such SARs were awarded.&#160; Notwithstanding the foregoing, if on the last day of the Option Period (or in the case of a SAR independent of an Option, the SAR Period), the Fair Market Value exceeds the Strike Price, the Participant has not exercised the SAR or the corresponding Option (if applicable), and neither the SAR nor the corresponding Option (if applicable) has expired, such SAR shall be deemed to have been exercised by the Participant on such last day and the Company shall make the appropriate payment therefor.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Payment.</font></u><font size="2" style="font-size:10.0pt;">&#160; Upon the exercise of a SAR, the Company shall pay to the holder thereof an amount equal to the number of shares subject to the SAR that are being exercised multiplied by the excess, if any, of the Fair Market Value of one share of Common Stock on the exercise date over the Strike Price, less an amount equal to any U.S. Federal, state and local income and employment taxes and non-U.S. income and employment taxes, social contributions and any other tax-related items required to be withheld.&#160; The Company shall pay such amount in cash, in shares of Common Stock valued at Fair</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9<a name="26867-3-NR-01_PB_9_053659_7608"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=9,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="9",CHK=818152,FOLIO='9',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NR-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 19 21:37 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Market Value, or any combination thereof, as determined by the Committee.&#160; Any fractional shares of Common Stock shall be settled in cash.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">9.</font></b><b><font size="1" style="font-size:8.5pt;font-weight:bold;">&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Restricted Stock and Restricted Stock Units.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Generally.</font></u><font size="2" style="font-size:10.0pt;">&#160; Each Restricted Stock and Restricted Stock Unit grant shall be subject to the conditions set forth in the Plan and the Award agreement.&#160; The Committee shall establish restrictions applicable to such Restricted Stock and Restricted Stock Units, including the period over which the restrictions shall apply (the &#147;<b><i style="font-weight:bold;">Restricted Period</i></b>&#148;), and the time or times at which Restricted Stock or Restricted Stock Units shall become vested.&#160; The Committee may accelerate the vesting and/or the lapse of any or all of the restrictions on the Restricted Stock and Restricted Stock Units, which acceleration shall not affect any other terms and conditions of such Awards.&#160; No shares shall be issued at the time an Award of Restricted Stock Units is made, and the Company will not be required to set aside a fund for the payment of any such Award.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Stock Certificates; Escrow or Similar Arrangement.</font></u><font size="2" style="font-size:10.0pt;">&#160; Upon the grant of Restricted Stock, the Committee shall cause share(s)&nbsp;of Common Stock to be registered in the name of the Participant and held in book-entry form subject to the Company&#146;s directions.&#160; The Committee also may cause a stock certificate registered in the name of the Participant to be issued.&#160; In such event, the Committee may provide that such certificates shall be held by the Company or in escrow rather than delivered to the Participant pending vesting and release of restrictions, in which case the Committee may require the Participant to execute and deliver to the Company (i)&nbsp;an escrow agreement satisfactory to the Committee, if applicable, and (ii)&nbsp;the appropriate stock power (endorsed in blank) with respect to the Restricted Stock.&#160; If the Participant shall fail to execute and deliver the escrow agreement and blank stock power within the amount of time specified by the Committee, the Award shall be null and void.&#160; Subject to the restrictions set forth in this Section&nbsp;9 and the Award agreement, the Participant shall have the rights and privileges of a shareholder as to such Restricted Stock, including without limitation the right to vote such Restricted Stock.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Restrictions; Forfeiture.</font></u><font size="2" style="font-size:10.0pt;">&#160; Restricted Stock and Restricted Stock Units awarded to the Participant shall be subject to forfeiture until the expiration of the Restricted Period and the attainment of any other vesting criteria established by the Committee, and shall be subject to the restrictions on transferability set forth in the Award agreement.&#160; In the event of any forfeiture, all rights of the Participant to such Restricted Stock (or as a shareholder with respect thereto), and/or to such Restricted Stock Units, as applicable, including to any dividends and/or dividend equivalents that may have been accumulated and withheld during the Restricted Period in respect thereof, shall terminate without further action or obligation on the part of the Company.&#160; The Committee shall have the authority to remove any or all of the restrictions on the Restricted Stock and Restricted Stock Units whenever it may determine that, by reason of changes in applicable laws or other changes in circumstances arising after the date of the Restricted Stock Award or Restricted Stock Unit Award, such action is appropriate.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Delivery of Restricted Stock and Settlement of Restricted Stock Units.</font></u></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Upon the expiration of the Restricted Period with respect to any shares of Restricted Stock and the attainment of any other vesting criteria, the restrictions set forth in the applicable Award agreement shall be of no further force or effect, except as set forth in the Award agreement.&#160; If an escrow arrangement is used, upon such expiration the Company shall deliver to the Participant or his beneficiary (via book entry notation or, if applicable, in stock certificate form) the shares of Restricted Stock with respect to which the Restricted Period has expired (rounded down to the nearest full share).&#160; Dividends, if any, that may have been withheld by the Committee and attributable to the Restricted Stock shall be distributed to the Participant in cash</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10<a name="26867-3-NR-01_PB_10_053722_8146"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=10,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="9",CHK=448774,FOLIO='10',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NR-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 19 21:37 2015' -->

<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">or in shares of Common Stock having a Fair Market Value (on the date of distribution) equal to the amount of such dividends, upon the release of restrictions on such share.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Unless otherwise provided by the Committee in an Award agreement, upon the expiration of the Restricted Period and the attainment of any other vesting criteria established by the Committee, with respect to any outstanding Restricted Stock Units, the Company shall deliver to the Participant, or his beneficiary (via book entry notation or, if applicable, in stock certificate form), one share of Common Stock (or other securities or other property, as applicable) for each such outstanding Restricted Stock Unit which has not then been forfeited and with respect to which the Restricted Period has expired and any other such vesting criteria are attained (&#147;<b><i style="font-weight:bold;">Released Unit</i></b>&#148;); <u>provided</u>, <u>however</u>, that the Committee may elect to (i)&nbsp;pay cash or part cash and part Common Stock in lieu of delivering only shares of Common Stock in respect of such Released Units or (ii)&nbsp;defer the delivery of Common Stock (or cash or part Common Stock and part cash, as the case may be) beyond the expiration of the Restricted Period if such extension would not cause adverse tax consequences under Section&nbsp;409A of the Code.&#160; If a cash payment is made in lieu of delivering shares of Common Stock, the amount of such payment shall be equal to the Fair Market Value of the Common Stock as of the date on which the Restricted Period lapsed with respect to such Restricted Stock Units.&#160; To the extent provided in an Award agreement, the holder of outstanding Restricted Stock Units shall be entitled to be credited with dividend equivalent payments (upon the payment by the Company of dividends on shares of Common Stock) either in cash or, if determined by the Committee, in shares of Common Stock having a Fair Market Value equal to the amount of such dividends (and interest may, if determined by the Committee, be credited on the amount of cash dividend equivalents at a rate and subject to such terms as determined by the Committee), which accumulated dividend equivalents (and interest thereon, if applicable) shall be payable at the same time as the underlying Restricted Stock Units are settled following the release of restrictions on such Restricted Stock Units, and, if such Restricted Stock Units are forfeited, the holder thereof shall have no right to such dividend equivalent payments.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Legends on Restricted Stock</font></u><font size="2" style="font-size:10.0pt;">.&#160; Each certificate representing Restricted Stock awarded under the Plan, if any, shall bear a legend substantially in the form of the following in addition to any other information the Company deems appropriate until the lapse of all restrictions with respect to such Common Stock:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">TRANSFER OF THIS CERTIFICATE AND THE SHARES REPRESENTED HEREBY IS RESTRICTED PURSUANT TO THE TERMS OF THE VIRTU FINANCIAL,&nbsp;INC. 2015 MANAGEMENT INCENTIVE PLAN AND A RESTRICTED STOCK AWARD AGREEMENT, DATED AS OF &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, BETWEEN VIRTU FINANCIAL,&nbsp;INC. AND &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.&#160; A COPY OF SUCH PLAN AND AWARD AGREEMENT IS ON FILE AT THE PRINCIPAL EXECUTIVE OFFICES OF VIRTU FINANCIAL,&nbsp;INC.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">10.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Other Stock-Based Awards.</font></b><font size="2" style="font-size:10.0pt;">&#160; The Committee may issue unrestricted Common Stock, rights to receive future grants of Awards, or other Awards denominated in Common Stock (including performance shares or performance units), or Awards that provide for cash payments based in whole or in part on the value or future value of shares of Common Stock under the Plan to Eligible Persons, alone or in tandem with other Awards, in such amounts as the Committee shall from time to time determine (&#147;<b><i style="font-weight:bold;">Other Stock-Based Awards</i></b>&#148;).&#160; Each Other Stock-Based Award shall be evidenced by an Award agreement which may include conditions including without limitation the payment by the Participant of the Fair Market Value of such shares of Common Stock on the date of grant.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11<a name="26867-3-NR-03_PB_11_053137_7056"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=11,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="9",CHK=352809,FOLIO='11',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NR-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 05:36 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">11.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Performance Compensation Awards.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Generally.</font></u><font size="2" style="font-size:10.0pt;">&#160; The Committee shall have the authority, at or before the time of grant of any Award described in Sections 7 through 10 of the Plan, to designate such Award as a Performance Compensation Award intended to qualify as &#147;performance-based compensation&#148; under Section&nbsp;162(m)&nbsp;of the Code.&#160; In addition, the Committee shall have the authority to make an award of a cash bonus to any Participant and designate such Award as a Performance Compensation Award intended to qualify as &#147;performance based compensation&#148; under Section&nbsp;162(m).&#160; Notwithstanding the foregoing, (i)&nbsp;any Award to a Participant who is a &#147;covered employee&#148; within the meaning of Section&nbsp;162(m)&nbsp;for a fiscal year that satisfies the requirements of this Section&nbsp;11 may be treated as a Performance Compensation Award in the absence of any such Committee designation and (ii)&nbsp;if the Company determines that a Participant who has been granted an Award designated as a Performance Compensation Award is not (or is no longer) a &#147;covered employee&#148; within the meaning of Section&nbsp;162(m), the terms and conditions of such Award may be modified without regard to any restrictions or limitations set forth in this Section&nbsp;11 (but subject otherwise to the provisions of Section&nbsp;14 of the Plan).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Discretion of Committee with Respect to Performance Compensation Awards.</font></u><font size="2" style="font-size:10.0pt;">&#160; The Committee may select the length of a Performance Period, the type(s)&nbsp;of Performance Compensation Awards to be issued, the Performance Criteria used to establish the Performance Goal(s), the kind(s)&nbsp;and/or level(s)&nbsp;of the Performance Goals(s)&nbsp;and the Performance Formula.&#160; Within the first 90 days of a Performance Period (or the maximum period allowed under Section&nbsp;162(m)&nbsp;of the Code), the Committee shall, with regard to the Performance Compensation Awards to be issued for such Performance Period, exercise its discretion with respect to each of the matters enumerated in the immediately preceding sentence and record the same in writing (which may be in the form of minutes of a meeting of the Committee).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Performance Criteria.</font></u><font size="2" style="font-size:10.0pt;">&#160; The Performance Criteria that will be used to establish the Performance Goal(s)&nbsp;may be based on the attainment of specific levels of performance of the Company (and/or one or more Affiliates, divisions or operational and/or business units, product lines, brands, business segments, administrative departments, units, or any combination of the foregoing) and shall be limited to the following:&#160; (i)&nbsp;net earnings or net income (before or after taxes); (ii)&nbsp;basic or diluted earnings per share (before or after taxes); (iii)&nbsp;net revenue or net revenue growth; (iv)&nbsp;gross revenue or gross revenue growth, gross profit or gross profit growth; (v)&nbsp;net operating profit (before or after taxes); (vi)&nbsp;return measures (including, but not limited to, return on investment, assets, capital, gross revenue or gross revenue growth, invested capital, equity or sales); (vii)&nbsp;cash flow measures (including, but not limited to, operating cash flow, free cash flow and cash flow return on capital), which may but are not required to be measured on a per-share basis; (viii)&nbsp;earnings before or after taxes, interest, depreciation, and amortization (including EBIT and EBITDA); (ix)&nbsp;gross or net operating margins; (x)&nbsp;productivity ratios; (xi)&nbsp;share price (including, but not limited to, growth measures and total shareholder return); (xii)&nbsp;expense targets or cost reduction goals, general and administrative expense savings; (xiii)&nbsp;operating efficiency; (xiv)&nbsp;objective measures of customer satisfaction; (xv)&nbsp;working capital targets; (xvi)&nbsp;measures of economic value added or other &#145;&#145;value creation&#146;&#146; metrics; (xvii)&nbsp;enterprise value; (xviii)&nbsp;stockholder return; (xix)&nbsp;client retention; (xx)&nbsp;competitive market metrics; (xxi)&nbsp;employee retention; (xxii)&nbsp;objective measures of personal targets, goals or completion of projects (including but not limited to succession and hiring projects, completion of specific acquisitions, reorganizations or other corporate transactions or capital-raising transactions, expansions of specific business operations and meeting divisional or project budgets); (xxiii)&nbsp;system-wide revenues; (xxiv)&nbsp;cost of capital, debt leverage year-end cash position or book value; (xxv)&nbsp;strategic objectives, development of new product lines and related revenue, sales and margin targets, or international operations; or (xxvi)&nbsp;any combination of the foregoing.&#160; Any one or more of the Performance Criteria may be stated as a percentage of another Performance Criteria, or a percentage of a prior period&#146;s Performance Criteria, or used on an absolute, relative or adjusted basis to</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12<a name="26867-3-NR-03_PB_12_053200_5335"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=12,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="9",CHK=607033,FOLIO='12',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NR-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 05:36 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">measure the performance of the Company and/or one or more Affiliates as a whole or any divisions or operational and/or business units, product lines, brands, business segments, administrative departments of the Company and/or one or more Affiliates or any combination thereof, as the Committee may deem appropriate, or any of the above Performance Criteria may be compared to the performance of a group of comparator companies, or a published or special index that the Committee deems appropriate, or as compared to various stock market indices.&#160; The Committee also has the authority to provide for accelerated vesting, delivery and exercisability of any Award based on the achievement of Performance Goals pursuant to the Performance Criteria specified in this paragraph.&#160; To the extent required under Section&nbsp;162(m)&nbsp;of the Code, the Committee shall, within the first 90 days of a Performance Period (or within the maximum period allowed under Section&nbsp;162(m)&nbsp;of the Code), define in an objective fashion the manner of calculating the Performance Criteria it selects to use for such Performance Period.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Modification of Performance Goal(s).</font></u><font size="2" style="font-size:10.0pt;">&#160; The Committee may alter Performance Criteria without obtaining shareholder approval if applicable tax and/or securities laws so permit.&#160; The Committee may modify the calculation of a Performance Goal during the first 90 days of a Performance Period (or within the maximum period allowed under Section&nbsp;162(m)&nbsp;of the Code), or at any time thereafter if the change would not cause any Performance Compensation Award to fail to qualify as &#147;performance-based compensation&#148; under Section&nbsp;162(m), to reflect any of the following events:&#160; (i)&nbsp;asset write-downs; (ii)&nbsp;litigation or claim judgments or settlements; (iii)&nbsp;the effect of changes in tax laws, accounting principles, or other laws or regulatory rules&nbsp;affecting reported results; (iv)&nbsp;any reorganization and restructuring programs; (v)&nbsp;extraordinary nonrecurring items as described in Accounting Standards Codification Topic 225-20 (or any successor pronouncement thereto) and/or in management&#146;s discussion and analysis of financial condition and results of operations appearing in the Company&#146;s annual report to shareholders for the applicable year; (vi)&nbsp;acquisitions or divestitures; (vii)&nbsp;any other specific unusual or nonrecurring events, or objectively determinable category thereof; (viii)&nbsp;foreign exchange gains and losses; (ix)&nbsp;discontinued operations and nonrecurring charges; and (x)&nbsp;a change in the Company&#146;s fiscal year.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Payment of Performance Compensation Awards.</font></u></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Condition to Receipt of Payment</font></u><font size="2" style="font-size:10.0pt;">.&#160; Unless otherwise provided in the applicable Award agreement or any employment, consulting, change-in-control, severance or other agreement between the Participant and the Company or an Affiliate, the Participant must be employed by or rendering services for the Company or an Affiliate on the last day of a Performance Period to be eligible for payment in respect of a Performance Compensation Award for such Performance Period.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Limitation</font></u><font size="2" style="font-size:10.0pt;">.&#160; Unless otherwise provided in the applicable Award agreement, or any employment, consulting, change-in-control, severance or other agreement between the Participant and the Company or an Affiliate, the Participant shall be eligible to receive payment or delivery, as applicable, in respect of a Performance Compensation Award only to the extent the Committee determines that: (A)&nbsp;the Performance Goals for such period are achieved, as determined by the Committee; and (B)&nbsp;all or some of the portion of such Participant&#146;s Performance Compensation Award has been earned for the Performance Period based on the application of the Performance Formula to such achieved Performance Goals, as determined by the Committee; <u>provided</u>, <u>however</u>, that if so provided by the Committee in its sole discretion, in the event of (x)&nbsp;the termination of the Participant&#146;s employment or service by the Company other than for Cause (and other than due to death or Disability), in each case within 12 months following a Change in Control, or (y)&nbsp;the termination of a Participant&#146;s employment or service due to the Participant&#146;s death or Disability, the Participant shall receive payment in respect of a Performance Compensation Award based on (1)&nbsp;actual performance through the date of termination as determined by the Committee, or (2)&nbsp;if the Committee determines that</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13<a name="26867-3-NR-03_PB_13_053239_5796"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=13,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="9",CHK=646547,FOLIO='13',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NR-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 05:36 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">measurement of actual performance cannot be reasonably assessed, the assumed achievement of target performance as determined by the Committee (but not to the extent that application of this clause (2)&nbsp;would cause Section&nbsp;162(m)&nbsp;of the Code to result in the loss of the deduction of the compensation payable in respect of such Performance Compensation Award for any Participant reasonably expected to be a &#147;covered employee&#148; within the meaning of Section&nbsp;162(m)&nbsp;of the Code), in each case prorated based on the time elapsed from the date of grant to the date of termination of employment or service.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Certification</font></u><font size="2" style="font-size:10.0pt;">.&#160; Following the completion of a Performance Period, the Committee shall review and certify in writing (which may be in the form of minutes of a meeting of the Committee) whether, and to what extent, the Performance Goals for the Performance Period have been achieved and, if so, calculate and certify in writing (which may be in the form of minutes of a meeting of the Committee) that amount of the Performance Compensation Awards earned for the period based upon the Performance Formula.&#160; The Committee shall then determine the amount of each Participant&#146;s Performance Compensation Award actually payable for the Performance Period and, in so doing, may apply discretion to eliminate or reduce the size of a Performance Compensation Award consistent with Section&nbsp;162(m)&nbsp;of the Code.&#160; Unless otherwise provided in the applicable Award agreement, the Committee shall not have the discretion to (A)&nbsp;provide payment or delivery in respect of Performance Compensation Awards for a Performance Period if the Performance Goals for such Performance Period have not been attained; or (B)&nbsp;increase a Performance Compensation Award above the applicable limitations set forth in Section&nbsp;5 of the Plan.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Timing of Award Payments.</font></u><font size="2" style="font-size:10.0pt;">&#160; Unless otherwise provided in the applicable Award agreement, Performance Compensation Awards granted for a Performance Period shall be paid to Participants as soon as administratively practicable following completion of the certifications required by this Section&nbsp;11.&#160; Any Performance Compensation Award that has been deferred shall not (between the date as of which the Award is deferred and the payment date) increase (i)&nbsp;with respect to a Performance Compensation Award that is payable in cash, by a measuring factor for each fiscal year greater than a reasonable rate of interest set by the Committee or (ii)&nbsp;with respect to a Performance Compensation Award that is payable in shares of Common Stock, by an amount greater than the appreciation of a share of Common Stock from the date such Award is deferred to the payment date.&#160; Unless otherwise provided in an Award agreement, any Performance Compensation Award that is deferred and is otherwise payable in shares of Common Stock shall be credited (during the period between the date as of which the Award is deferred and the payment date) with dividend equivalents (in a manner consistent with the methodology set forth in the last sentence of Section&nbsp;9(d)(ii)).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">12.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Changes in Capital Structure and Similar Events.</font></b><font size="2" style="font-size:10.0pt;">&#160; In the event of (a)&nbsp;any dividend (other than regular cash dividends) or other distribution (whether in the form of cash, shares of Common Stock, other securities or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, split-off, spin-off, combination, repurchase or exchange of shares of Common Stock or other securities of the Company, issuance of warrants or other rights to acquire shares of Common Stock or other securities of the Company, or other similar corporate transaction or event (including, without limitation, a Change in Control) that affects the shares of Common Stock, or (b)&nbsp;unusual or nonrecurring events (including, without limitation, a Change in Control) affecting the Company, any Affiliate, or the financial statements of the Company or any Affiliate, or changes in applicable rules, rulings, regulations or other requirements of any governmental body or securities exchange or inter-dealer quotation service, accounting principles or law, such that in any case an adjustment is determined by the Committee to be necessary or appropriate, then the Committee shall make any such adjustments in such manner as it may deem equitable, including without limitation any or all of the following:&#160; (i)&nbsp;adjusting any or all of (A)&nbsp;the number of shares of Common Stock or other</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14<a name="26867-3-NR-03_PB_14_053324_2897"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=14,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="9",CHK=761174,FOLIO='14',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NR-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 05:36 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">securities of the Company (or number and kind of other securities or other property) which may be delivered in respect of Awards or with respect to which Awards may be granted under the Plan (including, without limitation, adjusting any or all of the limitations under Section&nbsp;5 of the Plan) and (B)&nbsp;the terms of any outstanding Award, including, without limitation, (1)&nbsp;the number of shares of Common Stock or other securities of the Company (or number and kind of other securities or other property) subject to outstanding Awards or to which outstanding Awards relate, (2)&nbsp;the Exercise Price or Strike Price with respect to any Award or (3)&nbsp;any applicable performance measures (including, without limitation, Performance Criteria, Performance Formula and Performance Goals); (ii)&nbsp;providing for a substitution or assumption of Awards (or awards of an acquiring company), accelerating the delivery, vesting and/or exercisability of, lapse of restrictions and/or other conditions on, or termination of, Awards or providing for a period of time (which shall not be required to be more than ten (10)&nbsp;days) for Participants to exercise outstanding Awards prior to the occurrence of such event (and any such Award not so exercised shall terminate upon the occurrence of such event); and (iii)&nbsp;cancelling any one or more outstanding Awards (or awards of an acquiring company) and causing to be paid to the holders thereof, in cash, shares of Common Stock, other securities or other property, or any combination thereof, the value of such Awards, if any, as determined by the Committee (which if applicable may be based upon the price per share of Common Stock received or to be received by other shareholders of the Company in such event), including without limitation, in the case of an outstanding Option or SAR, a cash payment in an amount equal to the excess, if any, of the Fair Market Value (as of a date specified by the Committee) of the shares of Common Stock subject to such Option or SAR over the aggregate Exercise Price or Strike Price of such Option or SAR, respectively (it being understood that, in such event, any Option or SAR having a per share Exercise Price or Strike Price equal to, or in excess of, the Fair Market Value of a share of Common Stock subject thereto may be canceled and terminated without any payment or consideration therefor); <u>provided</u>, <u>however</u>, that the Committee shall make an equitable or proportionate adjustment to outstanding Awards to reflect any &#147;equity restructuring&#148; (within the meaning of the Financial Accounting Standards Codification Topic 718 (or any successor pronouncement thereto)).&#160; Except as otherwise determined by the Committee, any adjustment in Incentive Stock Options under this Section&nbsp;12 (other than any cancellation of Incentive Stock Options) shall be made only to the extent not constituting a &#147;modification&#148; within the meaning of Section&nbsp;424(h)(3)&nbsp;of the Code, and any adjustments under this Section&nbsp;12 shall be made in a manner which does not adversely affect the exemption provided pursuant to Rule&nbsp;16b-3 promulgated under the Exchange Act.&#160; The Company shall give each Participant notice of an adjustment hereunder and, upon notice, such adjustment shall be conclusive and binding for all purposes.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">13.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Effect of Change in Control.</font></b><font size="2" style="font-size:10.0pt;">&#160; Except to the extent otherwise provided in an Award agreement, or any applicable employment, consulting, change-in-control, severance or other agreement between the Participant and the Company or an Affiliate, in the event of a Change in Control, notwithstanding any provision of the Plan to the contrary:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">In the event the Participant&#146;s employment with the Company or an Affiliate is terminated by the Company or Affiliate without Cause (and other than due to death or Disability) on or within 12 months following a Change in Control, the Committee may provide that all Options and SARs held by such Participant shall become immediately exercisable with respect to 100% of the shares subject to such Options and SARs, and that the Restricted Period (and any other conditions) shall expire immediately with respect to 100% of the shares of Restricted Stock and Restricted Stock Units and any other Awards held by such Participant (including a waiver of any applicable Performance Goals); <u>provided</u>, that in the event the vesting or exercisability of any Award would otherwise be subject to the achievement of performance conditions, the portion of such Award that shall become fully vested and immediately exercisable shall be based on the assumed achievement of target performance as determined by the Committee and prorated for the number of days elapsed from the grant date of such Award through the date of termination.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15<a name="26867-3-NR-03_PB_15_053354_3020"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=15,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="9",CHK=789730,FOLIO='15',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NR-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 05:36 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">In addition, the Committee may upon at least ten (10)&nbsp;days&#146; advance notice to the affected persons, cancel any outstanding Award and pay to the holders thereof, in cash, securities or other property (including of the acquiring or successor company), or any combination thereof, the value of such Awards based upon the price per share of Common Stock received or to be received by other shareholders of the Company in the event.&#160; Notwithstanding the above, the Committee shall exercise such discretion over any Award subject to Code Section&nbsp;409A at the time such Award is granted.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">To the extent practicable, the provisions of this Section&nbsp;13 shall occur in a manner and at a time which allows affected Participants the ability to participate in the Change in Control transaction with respect to the Common Stock subject to their Awards.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">14.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Amendments and Termination.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Amendment and Termination of the Plan.</font></u><font size="2" style="font-size:10.0pt;">&#160; The Board may amend, alter, suspend, discontinue, or terminate the Plan or any portion thereof at any time; <u>provided</u>, that no such amendment, alteration, suspension, discontinuation or termination shall be made without shareholder approval if such approval is necessary to comply with any tax or regulatory requirement applicable to the Plan (including, without limitation, as necessary to comply with any rules&nbsp;or requirements of any securities exchange or inter-dealer quotation service on which the shares of Common Stock may be listed or quoted, for changes in GAAP to new accounting standards, or to prevent the Company from being denied a tax deduction under Section&nbsp;162(m)&nbsp;of the Code); <u>provided</u>, <u>further</u>, that any such amendment, alteration, suspension, discontinuance or termination that would materially and adversely affect the rights of any Participant or any holder or beneficiary of any Award theretofore granted shall not to that extent be effective without the consent of the affected Participant, holder or beneficiary, unless the Committee determines that such amendment, alteration, suspension, discontinuance or termination either is required or advisable in order for the Company, the Plan or the Award to satisfy any applicable law or regulation.&#160; Notwithstanding the foregoing, no amendment shall be made to the last proviso of Section&nbsp;14(b)&nbsp;without shareholder approval.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Amendment of Award Agreements.</font></u><font size="2" style="font-size:10.0pt;">&#160; The Committee may, to the extent not inconsistent with the terms of any applicable Award agreement, waive any conditions or rights under, amend any terms of, or alter, suspend, discontinue, cancel or terminate, any Award theretofore granted or the associated Award agreement, prospectively or retroactively (including after the Participant&#146;s termination of employment or service with the Company); <u>provided</u>, that any such waiver, amendment, alteration, suspension, discontinuance, cancellation or termination that would materially and adversely affect the rights of any Participant with respect to any Award theretofore granted shall not to that extent be effective without the consent of the affected Participant unless the Committee determines that such waiver, amendment, alteration, suspension, discontinuance, cancellation or termination either is required or advisable in order for the Company, the Plan or the Award to satisfy any applicable law or regulation; <u>provided</u>, <u>further</u>, that except as otherwise permitted under Section&nbsp;12 of the Plan, if (i)&nbsp;the Committee reduces the Exercise Price of any Option or the Strike Price of any SAR, (ii)&nbsp;the Committee cancels any outstanding Option or SAR and replaces it with a new Option or SAR (with a lower Exercise Price or Strike Price, as the case may be) or other Award or cash in a manner which would either (A)&nbsp;be reportable on the Company&#146;s proxy statement or Form&nbsp;10-K (if applicable) as Options which have been &#147;repriced&#148; (as such term is used in Item 402 of Regulation S-K promulgated under the Exchange Act), or (B)&nbsp;result in any &#147;repricing&#148; for financial statement reporting purposes (or otherwise cause the Award to fail to qualify for equity accounting treatment) or (iii)&nbsp;the Committee takes any other action which is considered a &#147;repricing&#148; for purposes of the shareholder approval rules&nbsp;of the applicable securities exchange or inter-dealer quotation service on which the Common Stock is listed or quoted, then, in the case of the immediately preceding clauses (i)&nbsp;through (iii), any such action shall not be effective without shareholder approval.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16<a name="26867-3-NR-03_PB_16_053426_7748"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=16,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="9",CHK=303568,FOLIO='16',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NR-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 05:36 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">15.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">General.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Award Agreements; Other Agreements.</font></u><font size="2" style="font-size:10.0pt;">&#160; Each Award under the Plan shall be evidenced by an Award agreement, which shall be delivered to the Participant and shall specify the terms and conditions of the Award and any rules&nbsp;applicable thereto.&#160; An Award agreement may be in written or electronic form and shall be signed (either in written or electronic form) by the Participant and a duly authorized representative of the Company.&#160; The terms of any Award agreement, or any employment, change-in-control, severance or other agreement in effect with the Participant, may have terms or features different from and/or additional to those set forth in the Plan, and, unless expressly provided otherwise in such Award or other agreement, shall control in the event of any conflict with the terms of the Plan.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Nontransferability.</font></u></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Each Award shall be exercisable only by the Participant during the Participant&#146;s lifetime, or, if permissible under applicable law, by the Participant&#146;s legal guardian or representative.&#160; No Award may be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Participant other than by will or by the laws of descent and distribution and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company or an Affiliate; <u>provided</u>, that the designation of a beneficiary shall not constitute an assignment, alienation, pledge, attachment, sale, transfer or encumbrance.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Notwithstanding the foregoing, the Committee may permit Awards (other than Incentive Stock Options) to be transferred by the Participant, without consideration, subject to such rules&nbsp;as the Committee may adopt, to:&#160; (A)&nbsp;any person who is a &#147;family member&#148; of the Participant, as such term is used in the instructions to Form&nbsp;S-8 under the Securities Act or any successor form of registration statements promulgated by the Securities and Exchange Commission (collectively, the &#147;<b><i style="font-weight:bold;">Immediate Family Members</i></b>&#148;); (B)&nbsp;a trust solely for the benefit of the Participant and his Immediate Family Members; (C)&nbsp;a partnership or limited liability company whose only partners or shareholders are the Participant and his Immediate Family Members; or (D)&nbsp;any other transferee as may be approved either (1)&nbsp;by the Board or the Committee, or (2)&nbsp;as provided in the applicable Award agreement; (each transferee described in clauses (A), (B), (C)&nbsp;and (D)&nbsp;above is hereinafter referred to as a &#147;<b><i style="font-weight:bold;">Permitted Transferee</i></b>&#148;); <u>provided</u>, that the Participant gives the Committee advance written notice describing the terms and conditions of the proposed transfer and the Committee notifies the Participant in writing that such a transfer would comply with the requirements of the Plan.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The terms of any Award transferred in accordance with the immediately preceding sentence shall apply to the Permitted Transferee and any reference in the Plan, or in any applicable Award agreement, to the Participant shall be deemed to refer to the Permitted Transferee, except that (A)&nbsp;Permitted Transferees shall not be entitled to transfer any Award, other than by will or the laws of descent and distribution; (B)&nbsp;Permitted Transferees shall not be entitled to exercise any transferred Option unless there shall be in effect a registration statement on an appropriate form covering the shares of Common Stock to be acquired pursuant to the exercise of such Option if the Committee determines, consistent with any applicable Award agreement, that such a registration statement is necessary or appropriate; (C)&nbsp;the Committee or the Company shall not be required to provide any notice to a Permitted Transferee, whether or not such notice is or would otherwise have been required to be given to the Participant under the Plan or otherwise; and (D)&nbsp;the consequences of the termination of the Participant&#146;s employment by, or services to, the Company or an Affiliate under the terms of the Plan and the applicable Award agreement shall continue to be applied with respect to the transferred Award, including, without</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17<a name="26867-3-NR-03_PB_17_053459_141"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=17,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="9",CHK=998706,FOLIO='17',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NR-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 05:36 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">limitation, that an Option shall be exercisable by the Permitted Transferee only to the extent, and for the periods, specified in the Plan and the applicable Award agreement.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Dividends and Dividend Equivalents.</font></u><font size="2" style="font-size:10.0pt;">&#160; The Committee may provide the Participant as part of an Award with dividends or dividend equivalents, payable in cash, shares of Common Stock, other securities, other Awards or other property, on a current or deferred basis, on such terms and conditions as may be determined by the Committee, including, without limitation, payment directly to the Participant, withholding of such amounts by the Company subject to vesting of the Award or reinvestment in additional shares of Common Stock, Restricted Stock or other Awards; <u>provided</u>, that no dividends or dividend equivalents shall be payable in respect of outstanding (i)&nbsp;Options or SARs or (ii)&nbsp;unearned Performance Compensation Awards or other unearned Awards subject to performance conditions (other than or in addition to the passage of time); <u>provided</u>, <u>further</u>, that dividend equivalents may be accumulated in respect of unearned Awards and paid as soon as administratively practicable, but no more than 60 days, after such Awards are earned and become payable or distributable (and the right to any such accumulated dividends or dividend equivalents shall be forfeited upon the forfeiture of the Award to which such dividends or dividend equivalents relate).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Tax Withholding.</font></u></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Participant shall be required to pay to the Company or any Affiliate, and the Company or any Affiliate shall have the right (but not the obligation) and is hereby authorized to withhold, from any cash, shares of Common Stock, other securities or other property deliverable under any Award or from any compensation or other amounts owing to the Participant, the amount (in cash, Common Stock, other securities or other property) of any required withholding taxes in respect of an Award, its exercise, or any payment or transfer under an Award or under the Plan and to take such other action as the Committee or the Company deem necessary to satisfy all obligations for the payment of such withholding taxes.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Without limiting the generality of clause (i)&nbsp;above, the Committee may permit the Participant to satisfy, in whole or in part, the foregoing withholding liability by (A)&nbsp;payment in cash; (B)&nbsp;the delivery of shares of Common Stock (which are not subject to any pledge or other security interest) owned by the Participant having a Fair Market Value equal to such withholding liability or (C)&nbsp;having the Company withhold from the number of shares of Common Stock otherwise issuable or deliverable pursuant to the exercise or settlement of the Award a number of shares with a Fair Market Value equal to such withholding liability.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">No Claim to Awards; No Rights to Continued Employment.</font></u><font size="2" style="font-size:10.0pt;">&#160; No employee of the Company or an Affiliate, or other person, shall have any claim or right to be granted an Award under the Plan or, having been selected for the grant of an Award, to be selected for a grant of any other Award.&#160; There is no obligation for uniformity of treatment of Participants or holders or beneficiaries of Awards.&#160; The terms and conditions of Awards and the Committee&#146;s determinations and interpretations with respect thereto need not be the same with respect to each Participant and may be made selectively among Participants, whether or not such Participants are similarly situated.&#160; Neither the Plan nor any action taken hereunder shall be construed as giving any Participant any right to be retained in the employ or service of the Company or an Affiliate, nor shall it be construed as giving any Participant any rights to continued service on the Board.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">International Participants.</font></u><font size="2" style="font-size:10.0pt;">&#160; With respect to Participants who reside or work outside of the United States and who are not (and who are not expected to be) &#147;covered employees&#148; within the meaning of Section&nbsp;162(m)&nbsp;of the Code, the Committee may amend the terms of the Plan or appendices thereto, or outstanding Awards, with respect to such Participants, in order to conform such terms with or</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18<a name="26867-3-NR-03_PB_18_053532_7608"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=18,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="9",CHK=174924,FOLIO='18',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NR-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 05:36 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">accommodate the requirements of local laws, procedures or practices or to obtain more favorable tax or other treatment for the Participant, the Company or its Affiliates.&#160; Without limiting the generality of this subsection, the Committee is specifically authorized to adopt rules, procedures and sub-plans with provisions that limit or modify rights on death, disability, retirement or other terminations of employment, available methods of exercise or settlement of an Award, payment of income, social insurance contributions or payroll taxes, withholding procedures and handling of any stock certificates or other indicia of ownership which vary with local requirements. The Committee may also adopt rules, procedures or sub-plans applicable to particular Affiliates or locations.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Beneficiary Designation.</font></u><font size="2" style="font-size:10.0pt;">&#160; The Participant&#146;s beneficiary shall be deemed to be his spouse (or domestic partner if such status is recognized by the Company and in such jurisdiction), or if the Participant is otherwise unmarried at the time of death, his estate, except to the extent a different beneficiary is designated in accordance with procedures that may be established by the Committee from time to time for such purpose.&#160; Notwithstanding the foregoing, in the absence of a beneficiary validly designated under such Committee-established procedures and/or applicable law who is living (or in existence) at the time of death of a Participant residing or working outside the United States, any required distribution under the Plan shall be made to the executor or administrator of the estate of the Participant, or to such other individual as may be prescribed by applicable law.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Termination of Employment or Service</font></u><font size="2" style="font-size:10.0pt;">.&#160; Except as otherwise provided in an Award agreement, or any employment, consulting, change-in-control, severance or other agreement between the Participant and the Company or an Affiliate, unless determined otherwise by the Committee: (i)&nbsp;neither a temporary absence from employment or service due to illness, vacation or leave of absence (including, without limitation, a call to active duty for military service through a Reserve or National guard unit) nor a transfer from employment or service with the Company to employment or service with an Affiliate (or vice versa) shall be considered a termination of employment or service with the Company or an Affiliate; and (ii)&nbsp;if the Participant&#146;s employment with the Company or its Affiliates terminates, but such Participant continues to provide services with the Company or its Affiliates in a non-employee capacity (including as a Non-Employee Director) (or vice versa), such change in status shall not be considered a termination of employment or service with the Company or an Affiliate for purposes of the Plan.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">No Rights as a Shareholder.</font></u><font size="2" style="font-size:10.0pt;">&#160; Except as otherwise specifically provided in the Plan or any Award agreement, no person shall be entitled to the privileges of ownership in respect of shares of Common Stock which are subject to Awards hereunder until such shares have been issued or delivered to that person.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Government and Other Regulations.</font></u></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Nothing in the Plan shall be deemed to authorize the Committee or Board or any members thereof to take any action contrary to applicable law or regulation, or rules&nbsp;of NASDAQ or any other securities exchange or inter-dealer quotation service on which the Common Stock is listed or quoted.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The obligation of the Company to settle Awards in Common Stock or other consideration shall be subject to all applicable laws, rules, and regulations, and to such approvals by governmental agencies as may be required.&#160; Notwithstanding any terms or conditions of any Award to the contrary, the Company shall be under no obligation to offer to sell or to sell, and shall be prohibited from offering to sell or selling, any shares of Common Stock pursuant to an Award unless such shares have been properly registered for sale pursuant to the Securities Act with the Securities and Exchange Commission or unless the Company has received an opinion of counsel, satisfactory to the Company, that such shares may be offered or sold without such</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19<a name="26867-3-NR-03_PB_19_053553_8146"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=19,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="9",CHK=1038714,FOLIO='19',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NR-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 05:36 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">registration pursuant to and in compliance with the terms of an available exemption.&#160; The Company shall be under no obligation to register for sale under the Securities Act any of the shares of Common Stock to be offered or sold under the Plan.&#160; The Committee shall have the authority to provide that all shares of Common Stock or other securities of the Company or any Affiliate delivered under the Plan shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the Plan, the applicable Award agreement, the U.S. Federal securities laws, or the rules, regulations and other requirements of the U.S. Securities and Exchange Commission, any securities exchange or inter-dealer quotation service upon which such shares or other securities of the Company are then listed or quoted and any other applicable Federal, state, local or non-U.S. laws, rules, regulations and other requirements, and, without limiting the generality of Section&nbsp;9 of the Plan, the Committee may cause a legend or legends to be put on any such certificates of Common Stock or other securities of the Company or any Affiliate delivered under the Plan to make appropriate reference to such restrictions or may cause such Common Stock or other securities of the Company or any Affiliate delivered under the Plan in book-entry form to be held subject to the Company&#146;s instructions or subject to appropriate stop-transfer orders.&#160; Notwithstanding any provision in the Plan to the contrary, the Committee reserves the right to add any additional terms or provisions to any Award granted under the Plan that it in its sole discretion deems necessary or advisable in order that such Award complies with the legal requirements of any governmental entity to whose jurisdiction the Award is subject.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Committee may cancel an Award or any portion thereof if it determines that legal or contractual restrictions and/or blockage and/or other market considerations would make the Company&#146;s acquisition of shares of Common Stock from the public markets, the Company&#146;s issuance of Common Stock to the Participant, the Participant&#146;s acquisition of Common Stock from the Company and/or the Participant&#146;s sale of Common Stock to the public markets, illegal, impracticable or inadvisable.&#160; If the Committee determines to cancel all or any portion of an Award in accordance with the foregoing, unless prevented by applicable laws, the Company shall pay to the Participant an amount equal to the excess of (A)&nbsp;the aggregate Fair Market Value of the shares of Common Stock subject to such Award or portion thereof canceled (determined as of the applicable exercise date, or the date that the shares would have been vested or delivered, as applicable), over (B)&nbsp;the aggregate Exercise Price or Strike Price (in the case of an Option or SAR, respectively) or any amount payable as a condition of delivery of shares of Common Stock (in the case of any other Award).&#160; Such amount shall be delivered to the Participant as soon as practicable following the cancellation of such Award or portion thereof.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(k)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">No Section&nbsp;83(b)&nbsp;Elections Without Consent of Company.</font></u><font size="2" style="font-size:10.0pt;">&#160; No election under Section&nbsp;83(b)&nbsp;of the Code or under a similar provision of law may be made unless expressly permitted by the terms of the applicable Award agreement or by action of the Committee in writing prior to the making of such election.&#160; If the Participant, in connection with the acquisition of shares of Common Stock under the Plan or otherwise, is expressly permitted to make such election and the Participant makes the election, the Participant shall notify the Company of such election within ten days of filing notice of the election with the Internal Revenue Service or other governmental authority, in addition to any filing and notification required pursuant to Section&nbsp;83(b)&nbsp;of the Code or other applicable provision.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(l)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Payments to Persons Other Than Participants</font></u><font size="2" style="font-size:10.0pt;">.&#160; If the Committee shall find that any person to whom any amount is payable under the Plan is unable to care for his affairs because of illness or accident, or is a minor, or has died, then any payment due to such person or his estate (unless a prior claim therefor has been made by a duly appointed legal representative or a beneficiary designation form has been filed with the Company) may, if the Committee so directs the Company, be paid to his spouse, child, relative, an institution maintaining or having custody of such person, or any other person deemed</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20<a name="26867-3-NR-03_PB_20_053620_7091"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=20,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="9",CHK=951946,FOLIO='20',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NR-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 05:36 2015' -->

<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">by the Committee to be a proper recipient on behalf of such person otherwise entitled to payment.&#160; Any such payment shall be a complete discharge of the liability of the Committee and the Company therefor.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(m)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Nonexclusivity of the Plan.</font></u><font size="2" style="font-size:10.0pt;">&#160; Neither the adoption of the Plan by the Board nor the submission of the Plan to the shareholders of the Company for approval shall be construed as creating any limitations on the power of the Board to adopt such other incentive arrangements as it may deem desirable, including, without limitation, the granting of stock options otherwise than under the Plan, and such arrangements may be either applicable generally or only in specific cases.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(n)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">No Trust or Fund Created.</font></u><font size="2" style="font-size:10.0pt;">&#160; Neither the Plan nor any Award shall create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company or any Affiliate, on the one hand, and the Participant or other person or entity, on the other hand.&#160; No provision of the Plan or any Award shall require the Company, for the purpose of satisfying any obligations under the Plan, to purchase assets or place any assets in a trust or other entity to which contributions are made or otherwise to segregate any assets, nor shall the Company maintain separate bank accounts, books, records or other evidence of the existence of a segregated or separately maintained or administered fund for such purposes.&#160; Participants shall have no rights under the Plan other than as unsecured general creditors of the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(o)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Reliance on Reports.</font></u><font size="2" style="font-size:10.0pt;">&#160; Each member of the Committee and each member of the Board (and their respective designees) shall be fully justified in acting or failing to act, as the case may be, and shall not be liable for having so acted or failed to act in good faith, in reliance upon any report made by the independent registered public accounting firm of the Company and its Affiliates and/or any other information furnished in connection with the Plan by any agent of the Company or the Committee or the Board, other than himself.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(p)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Relationship to Other Benefits.</font></u><font size="2" style="font-size:10.0pt;">&#160; No payment under the Plan shall be taken into account in determining any benefits under any pension, retirement, profit sharing, group insurance or other benefit plan of the Company except as otherwise specifically provided in such other plan.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(q)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Purchase for Investment.</font></u><font size="2" style="font-size:10.0pt;">&#160; Whether or not the Options and shares covered by the Plan have been registered under the Securities Act, each person exercising an Option under the Plan or acquiring shares under the Plan, may be required by the Company to give a representation in writing that such person is acquiring such shares for investment and not with a view to, or for sale in connection with, the distribution of any part thereof.&#160; The Company will endorse any necessary legend referring to the foregoing restriction upon the certificate or certificates representing any shares issued or transferred to the Participant upon the exercise of any Option granted under the Plan.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(r)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Governing Law.</font></u><font size="2" style="font-size:10.0pt;">&#160; The Plan shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to principles of conflicts of laws thereof, or principles of conflicts of laws of any other jurisdiction which could cause the application of the laws of any jurisdiction other than the State of Delaware.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(s)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Severability.</font></u><font size="2" style="font-size:10.0pt;">&#160; If any provision of the Plan or any Award or Award agreement is or becomes or is deemed to be invalid, illegal, or unenforceable in any jurisdiction or as to any person or entity or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to the applicable laws, or if it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award, such provision shall be construed or deemed stricken as to such jurisdiction, person or entity or Award and the remainder of the Plan and any such Award shall remain in full force and effect.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21<a name="26867-3-NR-05_PB_21_053326_7056"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=21,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="9",CHK=840897,FOLIO='21',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NR-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 05:38 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(t)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Obligations Binding on Successors.</font></u><font size="2" style="font-size:10.0pt;">&#160; The obligations of the Company under the Plan shall be binding upon any successor corporation or organization resulting from the merger, consolidation or other reorganization of the Company, or upon any successor corporation or organization succeeding to all or substantially all of the assets and business of the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(u)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">409A of the Code.</font></u></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">It is intended that the Plan comply with Section&nbsp;409A of the Code, and all provisions of the Plan shall be construed and interpreted in a manner consistent with the requirements for avoiding taxes or penalties under Section&nbsp;409A of the Code.&#160; Each Participant is solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on or in respect of such Participant in connection with the Plan or any other plan maintained by the Company, including any taxes and penalties under Section&nbsp;409A of the Code, and neither the Company nor any Affiliate shall have any obligation to indemnify or otherwise hold such Participant or any beneficiary harmless from any or all of such taxes or penalties.&#160; With respect to any Award that is considered &#147;deferred compensation&#148; subject to Section&nbsp;409A of the Code, references in the Plan to &#147;termination of employment&#148; (and substantially similar phrases) shall mean &#147;separation from service&#148; within the meaning of Section&nbsp;409A of the Code.&#160; For purposes of Section&nbsp;409A of the Code, each of the payments that may be made in respect of any Award granted under the Plan is designated as a separate payment.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Notwithstanding anything in the Plan to the contrary, if the Participant is a &#147;specified employee&#148; within the meaning of Section&nbsp;409A(a)(2)(B)(i)&nbsp;of the Code, no payments or deliveries in respect of any Awards that are &#147;deferred compensation&#148; subject to Section&nbsp;409A of the Code shall be made to such Participant prior to the date that is six months after the date of such Participant&#146;s &#147;separation from service&#148; within the meaning of Section&nbsp;409A of the Code or, if earlier, the Participant&#146;s date of death.&#160; All such delayed payments or deliveries will be paid or delivered (without interest) in a single lump sum on the earliest date permitted under Section&nbsp;409A of the Code that is also a business day.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">In the event that the timing of payments in respect of any Award that would otherwise be considered &#147;deferred compensation&#148; subject to Section&nbsp;409A of the Code would be accelerated upon the occurrence of (A)&nbsp;a Change in Control, no such acceleration shall be permitted unless the event giving rise to the Change in Control satisfies the definition of a change in the ownership or effective control of a corporation, or a change in the ownership of a substantial portion of the assets of a corporation pursuant to Section&nbsp;409A of the Code and any Treasury Regulations promulgated thereunder or (B)&nbsp;a Disability, no such acceleration shall be permitted unless the Disability also satisfies the definition of &#147;Disability&#148; pursuant to Section&nbsp;409A of the Code and any Treasury Regulations promulgated thereunder.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Clawback/Forfeiture.</font></u><font size="2" style="font-size:10.0pt;">&#160; Notwithstanding anything to the contrary contained herein, an Award agreement may provide that the Committee may cancel such Award if the Participant, without the consent of the Company, has engaged in or engages in activity that is in conflict with or adverse to the interest of the Company or any Affiliate while employed by or providing services to the Company or any Affiliate, including fraud or conduct contributing to any financial restatements or irregularities, or violates a non-competition, non-solicitation, non-disparagement or non-disclosure covenant or agreement with the Company or any Affiliate, as determined by the Committee.&#160; The Committee may also provide in an Award agreement that in such event, the Participant will forfeit any compensation, gain or other value realized thereafter on the vesting, exercise or settlement of such Award, the sale or other transfer of such Award, or the sale of shares of Common Stock acquired in respect of such Award, and must promptly repay such amounts to the Company.&#160; The Committee may also provide in an Award agreement that if the</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22<a name="26867-3-NR-05_PB_22_053435_5335"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=22,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="9",CHK=879916,FOLIO='22',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NR-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 05:38 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Participant receives any amount in excess of what the Participant should have received under the terms of the Award for any reason (including without limitation by reason of a financial restatement, mistake in calculations or other administrative error), all as determined by the Committee, then the Participant shall be required to promptly repay any such excess amount to the Company.&#160; To the extent required by applicable law (including, without limitation, Section&nbsp;304 of the Sarbanes-Oxley Act and Section&nbsp;954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act) and/or the rules&nbsp;and regulations of NASDAQ or any other securities exchange or inter-dealer quotation service on which the Common Stock is listed or quoted, or if so required pursuant to a written policy adopted by the Company, Awards shall be subject (including on a retroactive basis) to clawback, forfeiture or similar requirements (and such requirements shall be deemed incorporated by reference into all outstanding Award agreements).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(w)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">No Representations or Covenants With Respect to Tax Qualification.</font></u><font size="2" style="font-size:10.0pt;">&#160; Although the Company may endeavor to (i)&nbsp;qualify an Award for favorable U.S. or non-U.S. tax treatment or (ii)&nbsp;avoid adverse tax treatment, the Company makes no representation to that effect and expressly disavows any covenant to maintain favorable or avoid unfavorable tax treatment. The Company shall be unconstrained in its corporate activities without regard to the potential negative tax impact on holders of Awards under the Plan.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(x)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Code Section&nbsp;162(m)&nbsp;Re-approval.</font></u><font size="2" style="font-size:10.0pt;">&#160; If the Company becomes subject to the provisions of Section&nbsp;162(m)&nbsp;of the Code, the Committee may, for purposes of exempting certain Awards granted after such time from the deduction limitations of Section&nbsp;162(m)&nbsp;of the Code, submit the provisions of the Plan regarding Performance Compensation Awards for re-approval by the shareholders of the Company (i)&nbsp;prior to the first shareholder meeting at which directors are to be elected that occurs in calendar year 2019, or such earlier time as required under applicable Treasury Regulations, and (ii)&nbsp;thereafter not later than every five years in accordance with applicable Treasury Regulations.&#160; Nothing in this subsection, however, shall affect the validity of Awards granted after such time if such shareholder approval has not been obtained.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(y)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Expenses; Gender; Titles and Headings.</font></u><font size="2" style="font-size:10.0pt;">&#160; The expenses of administering the Plan shall be borne by the Company and its Affiliates.&#160; Masculine pronouns and other words of masculine gender shall refer to both men and women.&#160; The titles and headings of the sections in the Plan are for convenience of reference only, and in the event of any conflict, the text of the Plan, rather than such titles or headings shall control.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:3.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*&#160;&#160;&#160;&#160;&#160;&#160; *&#160;&#160;&#160;&#160;&#160;&#160; *</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As adopted by the Board of Directors of the Company on [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], 2015.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As approved by the shareholders of the Company on [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], 2015.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23<a name="26867-3-NR-05_PB_23_053554_5796"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=23,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="9",CHK=79828,FOLIO='23',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NR-05_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 05:38 2015' -->

<BR>
<!-- TOCEXISTFLAG -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.16
<SEQUENCE>10
<FILENAME>a2223212zex-10_16.htm
<DESCRIPTION>EX-10.16
<TEXT>
<HTML>
<HEAD>
</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>
<div style="font-family:Times New Roman;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 10.16</font></b></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIRTU FINANCIAL,&nbsp;INC.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2015 MANAGEMENT INCENTIVE PLAN</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#160;NON-EMPLOYEE DIRECTOR</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">RESTRICTED STOCK UNIT AWARD AGREEMENT</font></u></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">THIS RESTRICTED STOCK UNIT AWARD AGREEMENT (the &#147;<u>Agreement</u>&#148;), is entered into as of [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], 20[&#160; ] (the &#147;<u>Date of Grant</u>&#148;), by and between Virtu Financial,&nbsp;Inc., a Delaware corporation (the &#147;<u>Company</u>&#148;), and [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] (the &#147;<u>Participant</u>&#148;).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the Company has adopted the Virtu Financial,&nbsp;Inc. 2015 Management Incentive Plan (the &#147;<u>Plan</u>&#148;), pursuant to which Restricted Stock Units (&#147;<u>RSUs</u>&#148;) may be granted; and</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the Board of Directors of the Company has determined that it is in the best interests of the Company and its stockholders to grant the RSUs provided for herein to the Participant subject to the terms set forth herein.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NOW, THEREFORE, for and in consideration of the premises and the covenants of the parties contained in this Agreement, and for other good and valuable consideration, the receipt of which is hereby acknowledged, the parties hereto, for themselves, their successors and assigns, hereby agree as follows:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Grant of Restricted Stock Units.</font></b></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Grant</font></u><font size="2" style="font-size:10.0pt;">. The Company hereby grants to the Participant a total of [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] RSUs, on the terms and conditions set forth in this Agreement and as otherwise provided in the Plan.&#160; The RSUs shall vest in accordance with Section&nbsp;2.&#160; The RSUs shall be credited to a separate book-entry account maintained for the Participant on the books of the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Incorporation by Reference</font></u><font size="2" style="font-size:10.0pt;">. The provisions of the Plan are incorporated herein by reference. Except as otherwise expressly set forth herein, this Agreement shall be construed in accordance with the provisions of the Plan and any interpretations, amendments, rules&nbsp;and regulations promulgated by the Committee from time to time pursuant to the Plan.&#160; Any capitalized terms not otherwise defined in this Agreement shall have the definitions set forth in the Plan.&#160; The Committee shall have final authority to interpret and construe the Plan and this Agreement and to make any and all determinations under them, and its decision shall be binding and conclusive upon the Participant and his legal representative in respect of any questions arising under the Plan or this Agreement.&#160; The Participant acknowledges that he has received a copy of the Plan and has had an opportunity to review the Plan and agrees to be bound by all the terms and provisions of the Plan.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Vesting; Settlement.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Except as may otherwise be provided herein, subject to the Participant&#146;s continued service with the Company or an Affiliate, the RSUs shall vest on the one (1)&nbsp;year anniversary of the Date of Grant (the &#147;<u>Vesting Date</u>&#148;).&#160; Upon vesting, the RSUs shall no longer be subject to the transfer restrictions pursuant to Section&nbsp;8(a)&nbsp;hereof or cancellation pursuant to Section&nbsp;4 hereof.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Each RSU shall be settled within 10 days following the Vesting Date in shares of Class&nbsp;A Common Stock, or cash, as determined by the Committee in its sole discretion.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">3.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Dividend Equivalents.</font></b><font size="2" style="font-size:10.0pt;">&#160; In the event of any issuance of a cash dividend on the shares of Class&nbsp;A Common Stock (a &#147;<u>Dividend</u>&#148;), the Participant shall be credited, as of the payment date for such Dividend, with an additional number of RSUs (each, an &#147;<u>Additional RSU</u>&#148;) equal to the quotient obtained by dividing (a)&nbsp;the product of (i)&nbsp;the number of RSUs granted pursuant to this Agreement and outstanding</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=1,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="10",CHK=565491,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-OA_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:09 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">as of the record date for such Dividend multiplied by (ii)&nbsp;the amount of the Dividend per share, divided by (b)&nbsp;the Fair Market Value per share on the payment date for such Dividend, such quotient to be rounded to the nearest hundredth.&#160; Once credited, each Additional RSU shall be treated as an RSU granted hereunder and shall be subject to all terms and conditions set forth in this Agreement and the Plan.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">4.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Termination of Service.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the Participant&#146;s service with the Company and its Affiliates terminates for any reason, all unvested RSUs shall be cancelled immediately and the Participant shall not be entitled to receive any payments with respect thereto.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">5.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Rights as a Stockholder.</font></b><font size="2" style="font-size:10.0pt;">&#160; The Participant shall not be deemed for any purpose to be the owner of any shares of Class&nbsp;A Common Stock underlying the RSUs unless, until and to the extent that (i)&nbsp;the Company shall have issued and delivered to the Participant the shares of Class&nbsp;A Common Stock underlying the RSUs and (ii)&nbsp;the Participant&#146;s name shall have been entered as a stockholder of record with respect to such shares of Class&nbsp;A Common Stock on the books of the Company.&#160; The Company shall cause the actions described in clauses (i)&nbsp;and (ii)&nbsp;of the preceding sentence to occur promptly following settlement as contemplated by this Agreement, subject to compliance with applicable laws.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">6.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Compliance with Legal Requirements.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Generally</font></u><font size="2" style="font-size:10.0pt;">. The granting and settlement of the RSUs, and any other obligations of the Company under this Agreement, shall be subject to all applicable U.S. federal, state and local laws, rules&nbsp;and regulations, all applicable non-U.S. laws, rules&nbsp;and regulations and to such approvals by any regulatory or governmental agency as may be required. The Participant agrees to take all steps the Committee or the Company determines are reasonably necessary to comply with all applicable provisions of U.S. federal and state securities law and non-U.S. securities law in exercising his rights under this Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Taxes and Withholding</font></u><font size="2" style="font-size:10.0pt;">.&#160; The Participant shall be responsible for all income taxes payable in respect of the RSUs.&#160; The Company shall have the right and is hereby authorized to withhold from any amounts payable to the Participant in connection with the RSUs or otherwise the amount of any required withholding taxes in respect of the RSUs, their settlement or any payment or transfer of the RSUs or under the Plan and to take any such other action as the Committee or the Company deem necessary to satisfy all obligations for the payment of such withholding taxes.&#160; In its sole discretion, the Company may permit the Participant to satisfy, in whole or in part, the tax obligations by withholding shares of Class&nbsp;A Common Stock that would otherwise be deliverable to the Participant upon settlement of the RSUs with a Fair Market Value equal to such withholding liability.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">7.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Clawback.&#160; </font></b><font size="2" style="font-size:10.0pt;">Notwithstanding anything to the contrary contained herein, the Committee may cancel the RSU award if the Participant, without the consent of the Company, has engaged in or engages in activity that is in conflict with or adverse to the interest of the Company or any Affiliate while employed by or providing services to the Company or any Affiliate, including fraud or conduct contributing to any financial restatements or irregularities, or violates a non-competition, non-solicitation, non-disparagement or non-disclosure covenant or agreement with the Company or any Affiliate, as determined by the Committee.&#160; In such event, the Participant will forfeit any compensation, gain or other value realized thereafter on the vesting or settlement of the RSUs, the sale or other transfer of the RSUs, or the sale of shares of Class&nbsp;A Common Stock acquired in respect of the RSUs, and must promptly repay such amounts to the Company.&#160; If the Participant receives any amount in excess of what the Participant should have received under the terms of the RSUs for any reason (including without limitation by reason of a financial restatement, mistake in calculations or other administrative error), all as determined by the</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2<a name="26867-3-OA_PB_2_015142_7056"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=2,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="10",CHK=835228,FOLIO='2',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-OA_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:09 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Committee, then the Participant shall be required to promptly repay any such excess amount to the Company.&#160; To the extent required by applicable law and/or the rules&nbsp;and regulations of NASDAQ or any other securities exchange or inter-dealer quotation system on which the Class&nbsp;A Common Stock is listed or quoted, or if so required pursuant to a written policy adopted by the Company, the RSUs shall be subject (including on a retroactive basis) to clawback, forfeiture or similar requirements (and such requirements shall be deemed incorporated by reference into this Agreement).</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">8.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Miscellaneous.</font></b></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Transferability</font></u><font size="2" style="font-size:10.0pt;">. The RSUs may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered (a &#147;<u>Transfer</u>&#148;) by the Participant other than by will or by the laws of descent and distribution, pursuant to a qualified domestic relations order or as otherwise permitted under Section&nbsp;15(b)&nbsp;of the Plan.&#160; Any attempted Transfer of the RSUs contrary to the provisions hereof, and the levy of any execution, attachment or similar process upon the RSUs, shall be null and void and without effect.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Waiver</font></u><font size="2" style="font-size:10.0pt;">. Any right of the Company contained in this Agreement may be waived in writing by the Committee. No waiver of any right hereunder by any party shall operate as a waiver of any other right, or as a waiver of the same right with respect to any subsequent occasion for its exercise, or as a waiver of any right to damages. No waiver by any party of any breach of this Agreement shall be held to constitute a waiver of any other breach or a waiver of the continuation of the same breach.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Section&nbsp;409A</font></u><font size="2" style="font-size:10.0pt;">. The RSUs are intended to be exempt from, or compliant with, Section&nbsp;409A of the Code. Notwithstanding the foregoing or any provision of the Plan or this Agreement, if any provision of the Plan or this Agreement contravenes Section&nbsp;409A of the Code or could cause the Participant to incur any tax, interest or penalties under Section&nbsp;409A of the Code, the Committee may, in its sole discretion and without the Participant&#146;s consent, modify such provision to (i)&nbsp;comply with, or avoid being subject to, Section&nbsp;409A of the Code, or to avoid the incurrence of taxes, interest and penalties under Section&nbsp;409A of the Code, and/or (ii)&nbsp;maintain, to the maximum extent practicable, the original intent and economic benefit to the Participant of the applicable provision without materially increasing the cost to the Company or contravening the provisions of Section&nbsp;409A of the Code. This Section&nbsp;9(c)&nbsp;does not create an obligation on the part of the Company to modify the Plan or this Agreement and does not guarantee that the RSUs will not be subject to interest and penalties under Section&nbsp;409A.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">General Assets</font></u><font size="2" style="font-size:10.0pt;">. All amounts credited in respect of the RSUs to the book-entry account under this Agreement shall continue for all purposes to be part of the general assets of the Company.&#160; The Participant&#146;s interest in such account shall make the Participant only a general, unsecured creditor of the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Notices</font></u><font size="2" style="font-size:10.0pt;">. Any notices provided for in this Agreement or the Plan shall be in writing and shall be deemed sufficiently given if either hand delivered or if sent by fax, pdf/email or overnight courier, or by postage paid first class mail. Notices sent by mail shall be deemed received three business days after mailing but in no event later than the date of actual receipt. Notices shall be directed, if to the Participant, at the Participant&#146;s address indicated by the Company&#146;s records, or if to the Company, to the attention of the General Counsel at the Company&#146;s principal executive office.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Severability</font></u><font size="2" style="font-size:10.0pt;">. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, and each other provision of this Agreement shall be severable and enforceable to the extent permitted by law.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3<a name="26867-3-OA_PB_3_015152_5335"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=3,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="10",CHK=268468,FOLIO='3',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-OA_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:09 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">No Rights to Employment or Service</font></u><font size="2" style="font-size:10.0pt;">. Nothing contained in this Agreement shall be construed as giving the Participant any right to be retained, in any position, as an employee, consultant or director of the Company or its Affiliates or shall interfere with or restrict in any way the rights of the Company or its Affiliates, which are hereby expressly reserved, to remove, terminate or discharge the Participant at any time for any reason whatsoever.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Fractional Shares</font></u><font size="2" style="font-size:10.0pt;">. In lieu of issuing a fraction of a share of Class&nbsp;A Common Stock resulting from adjustment of the RSUs pursuant to Section&nbsp;12 of the Plan or otherwise, the Company shall be entitled to pay to the Participant an amount in cash equal to the Fair Market Value of such fractional share.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Beneficiary</font></u><font size="2" style="font-size:10.0pt;">. The Participant may file with the Committee a written designation of a beneficiary on such form as may be prescribed by the Committee and may, from time to time, amend or revoke such designation.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Successors</font></u><font size="2" style="font-size:10.0pt;">. The terms of this Agreement shall be binding upon and inure to the benefit of the Company and its successors and assigns, and of the Participant and the beneficiaries, executors, administrators, heirs and successors of the Participant.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(k)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Entire Agreement</font></u><font size="2" style="font-size:10.0pt;">. This Agreement and the Plan contain the entire agreement and understanding of the parties hereto with respect to the subject matter contained herein and supersede all prior communications, representations and negotiations in respect thereto. No change, modification or waiver of any provision of this Agreement shall be valid unless the same be in writing and signed by the parties hereto, except for any changes permitted without consent under Section&nbsp;12 or 14 of the Plan.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(l)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Governing Law and Venue</font></u><font size="2" style="font-size:10.0pt;">. This Agreement shall be construed and interpreted in accordance with the laws of the State of Delaware, without regard to principles of conflicts of laws thereof, or principles of conflicts of laws of any other jurisdiction which could cause the application of the laws of any jurisdiction other than the State of Delaware.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Dispute Resolution; Consent to Jurisdiction</font></u><font size="2" style="font-size:10.0pt;">. All disputes between or among any Persons arising out of or in any way connected with the Plan, this Agreement or the RSUs shall be solely and finally settled by the Committee, acting in good faith, the determination of which shall be final.&#160;&#160; Any matters not covered by the preceding sentence shall be solely and finally settled in accordance with the Plan, and the Participant and the Company consent to the personal jurisdiction of the United States Federal and state courts sitting in Wilmington, Delaware as the exclusive jurisdiction with respect to matters arising out of or related to the enforcement of the Committee&#146;s determinations and resolution of matters, if any, related to the Plan or this Agreement not required to be resolved by the Committee.&#160; Each such Person hereby irrevocably consents to the service of process of any of the aforementioned courts in any such suit, action or proceeding by the mailing of copies thereof by registered or certified mail, postage prepaid, to the last known address of such Person, such service to become effective ten (10)&nbsp;days after such mailing.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Waiver of Jury Trial</font></u><font size="2" style="font-size:10.0pt;">. Each party hereto hereby waives, to the fullest extent permitted by applicable law, any right it may have to a trial by jury in any legal proceeding directly or indirectly arising out of or relating to this Agreement or the transactions contemplated (whether based on contract, tort or any other theory).&#160; Each party hereto (A)&nbsp;certifies that no representative, agent or attorney of any other party has represented, expressly or otherwise, that such other party would not, in the event of litigation, seek to enforce the foregoing waiver and</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4<a name="26867-3-OA_PB_4_015205_5796"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=4,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="10",CHK=449423,FOLIO='4',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-OA_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:09 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(B)&nbsp;acknowledges that it and the other parties hereto have been induced to enter into this Agreement by, among other things, the mutual waivers and certifications in this section.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(m)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Headings; Gender</font></u><font size="2" style="font-size:10.0pt;">. The headings of the Sections&nbsp;hereof are provided for convenience only and are not to serve as a basis for interpretation or construction, and shall not constitute a part, of this Agreement.&#160; Masculine pronouns and other words of masculine gender shall refer to both men and women as appropriate.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(n)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Counterparts</font></u><font size="2" style="font-size:10.0pt;">. This Agreement may be executed in one or more counterparts (including via facsimile and electronic image scan (pdf)), each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument and shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other parties.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(o)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Electronic Signature and Delivery</font></u><font size="2" style="font-size:10.0pt;">. This Agreement may be accepted by return signature or by electronic confirmation.&#160; By accepting this Agreement, the Participant consents to the electronic delivery of prospectuses, annual reports and other information required to be delivered by U.S. Securities and Exchange Commission rules&nbsp;(which consent may be revoked in writing by the Participant at any time upon three business days&#146; notice to the Company, in which case subsequent prospectuses, annual reports and other information will be delivered in hard copy to the Participant).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(p)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Electronic Participation in Plan</font></u><font size="2" style="font-size:10.0pt;">. The Company may, in its sole discretion, decide to deliver any documents related to current or future participation in the Plan by electronic means.&#160; The Participant hereby consents to receive such documents by electronic delivery and agrees to participate in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">[Remainder of page&nbsp;intentionally blank]</font></i></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5<a name="26867-3-OA_PB_5_015213_2897"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=5,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="10",CHK=212480,FOLIO='5',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-OA_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:09 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:48.95pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IN WITNESS WHEREOF, this Agreement has been executed by the Company and the Participant as of the day first written above.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:48.95pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="49%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:49.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">VIRTU   FINANCIAL,&nbsp;INC.</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="44%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.12%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="49%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:49.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="49%" colspan="2" valign="top" style="border:none;padding:0in 0in 0in 0in;width:49.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[PARTICIPANT]</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">[Signature Page to [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]RSU Award Agreement]</font></i></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=6,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="10",CHK=418677,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-OA_ZDI16703.CHC",USER="BFLANNO",CD='Mar 24 02:09 2015' -->

<BR>
<!-- TOCEXISTFLAG -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.17
<SEQUENCE>11
<FILENAME>a2223212zex-10_17.htm
<DESCRIPTION>EX-10.17
<TEXT>
<HTML>
<HEAD>
</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>
<div style="font-family:Times New Roman;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 10.17</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">[UNIT VESTING,] EQUITY RETENTION AND<br> &#160;RESTRICTIVE COVENANT AGREEMENT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2015</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Douglas A. Cifu<br> Chief Executive Officer<br> Virtu Financial,&nbsp;Inc. <br> 645 Madison Avenue<br> New York, New York 10022-1010</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Re:&#160; [Unit Vesting, ]Equity Retention and Restrictive Covenant Agreement</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dear Mr.&nbsp;Cifu:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:40.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Employee] (the &#147;<b>Executive</b>&#148;) [and [Family Entity]] (collectively, the &#147;<b>undersigned</b>&#148;) understand that Virtu Financial LLC, a Delaware limited liability company (&#147;<b>Virtu LLC</b>&#148;), proposes to consummate a reorganization in connection with an initial public offering (the &#147;<b>IPO</b>&#148;) of Class&nbsp;A common stock, $0.00001 par value per share (&#147;<b>Class&nbsp;A Common Stock</b>&#148;), of Virtu Financial,&nbsp;Inc., a Delaware corporation (the &#147;<b>Company</b>&#148;).&#160; In connection with the IPO, the Company requires that management employees who hold Pre-IPO Company Securities (as defined below) be subject to certain restrictions regarding the sale and transfer of such Pre-IPO Company Securities and acknowledge and agree to continue to be bound by certain post-termination restrictive covenants, as further described herein.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Equity Reclassification</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The undersigned owns (i)&nbsp;limited liability company interests of Virtu LLC (&#147;<b>Existing Virtu LLC Interests</b>&#148;) and (ii)&nbsp;Class&nbsp;A limited liability company interests of East MIP (&#147;<b>Existing East MIP Interests</b>&#148;), which represent an indirect interest in a number of Existing Virtu LLC Interests.&#160; In accordance with the Reorganization Agreement, immediately prior to the date and time the IPO becomes effective, among other things, (x)&nbsp; East MIP will be liquidated, and in connection therewith, certain Existing Virtu LLC Interests will be transferred to East MIP by holders of Existing East MIP Interests and holders of Existing East MIP Interests will be distributed additional Existing Virtu LLC Interests and (y)&nbsp;all outstanding Existing Virtu LLC Interests will be reclassified into non-voting common limited liability company interests of Virtu LLC (&#147;<b>Common Units</b>&#148;) based on a hypothetical liquidation value of Virtu LLC (the &#147;<b>Hypothetical Liquidation Value</b>&#148;) and the IPO price per share of the Class&nbsp;A Common Stock.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">In addition, the undersigned will subscribe for a number of shares of Class&nbsp;[C/D] Common Stock equal to the number of Common Units held thereby.&#160; From and after the IPO,</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=1,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="11",CHK=51110,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NZ-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:04 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">such Common Units, together with such shares of Class&nbsp;[C/D](1)&nbsp;Common Stock, are exchangeable for shares of Class&nbsp;[A/B] Common Stock pursuant to the Exchange Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The undersigned acknowledge and agree that the equity interests set forth on <u>Exhibit&nbsp;A</u> attached hereto (i)&nbsp;represent all of the undersigned&#146;s Existing Virtu LLC Interests and Existing East MIP Interests (determined after giving effect to the dissolution of any entities through which the undersigned previously indirectly held any such equity interests) and (ii)&nbsp;after giving effect to the transactions described in paragraph 1(a), the undersigned&#146;s Common Units will continue to be subject to [(x)] the Virtu LLC Agreement [and (y)&nbsp;in the case of unvested Common Units, the Virtu LLC MIP and the vesting terms applicable to such equity interests as in effect immediately prior to the IPO as set forth on <u>Exhibit&nbsp;A</u> attached hereto].</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">As soon as reasonably practicable following the IPO, the undersigned will be provided by Virtu LLC with written notice setting forth the portion of the Hypothetical Liquidation Value represented by the undersigned&#146;s Common Units and the resulting number of Common Units that the undersigned then own after giving effect to the transactions contemplated by the Reorganization Agreement and the IPO.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Equity Retention</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Except as otherwise provided herein, the undersigned hereby agree that, without the prior written consent of the Company, the undersigned will not directly or indirectly Transfer all or any part of their respective Pre-IPO Company Securities or any right or economic interest pertaining thereto, including the right to vote or consent on any matter or to receive or have any economic interest in distributions or advances from the Company or Virtu LLC pursuant thereto (the foregoing restrictions are hereinafter referred to as the &#147;<b>Lock-Up Restrictions</b>&#148;).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Notwithstanding anything herein to the contrary, the Lock-Up Restrictions shall cease to apply to the Pre-IPO Company Securities as follows:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">upon the consummation of the IPO, the undersigned, collectively, may Transfer up to 15% of their Pre-IPO Company Securities pursuant to the Equity Purchase Agreement, to the extent such Pre-IPO Company Securities have vested;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">on and after the first (1</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">st</font><font size="2" style="font-size:10.0pt;">) anniversary of the consummation of the IPO, the undersigned, collectively, may Transfer up to a cumulative 30% of their Pre-IPO Company Securities, to the extent such Pre-IPO Company Securities have vested;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">on and after the second (2</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">nd</font><font size="2" style="font-size:10.0pt;">) anniversary of the consummation of the IPO, the undersigned, collectively, may Transfer up to a cumulative 45% of their Pre-IPO Company Securities, to the extent such Pre-IPO Company Securities have vested;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">on and after the third (3</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">rd</font><font size="2" style="font-size:10.0pt;">) anniversary of the consummation of the IPO, the undersigned, collectively, may Transfer up to a cumulative 60% of their Pre-IPO Company Securities, to the extent such Pre-IPO Company Securities have vested;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="1" width="25%" noshade color="black" align="left"></div>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Note to Draft: References to Class&nbsp;B Common Stock and Class&nbsp;D Common Stock applicable only in agreement with Vincent Viola.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2<a name="26867-3-NZ-01_PB_2_071044_7056"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=2,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="11",CHK=512581,FOLIO='2',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NZ-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:04 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">on and after the fourth (4</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font><font size="2" style="font-size:10.0pt;">) anniversary of the consummation of the IPO, the undersigned, collectively, may Transfer up to a cumulative 75% of their Pre-IPO Company Securities, to the extent such Pre-IPO Company Securities have vested;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">on and after the fifth (5</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font><font size="2" style="font-size:10.0pt;">) anniversary of the consummation of the IPO, the undersigned, collectively, may Transfer up to a cumulative 90% of their Pre-IPO Company Securities, to the extent such Pre-IPO Company Securities have vested; and</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">on and after the sixth (6</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font><font size="2" style="font-size:10.0pt;">) anniversary of the consummation of the IPO, the Lock-Up Restrictions shall no longer apply, and the undersigned may Transfer any or all of their remaining Pre-IPO Company Securities, to the extent such Pre-IPO Company Securities have vested.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For the purposes of this paragraph 2(b), the percentage of Pre-IPO Company Securities permitted to be Transferred shall be determined based on the total number of shares of Class&nbsp;A Common Stock owned by the undersigned and their Permitted Transferees as of the Reorganization Date (including any Pre-IPO Company Securities to be sold thereby pursuant to the Equity Purchase Agreement, but excluding any shares of Class&nbsp;A Common stock underlying awards under the Company MIP made thereto in connection with the IPO (&#147;<b>IPO Grants</b>&#148;)), in each case, determined on an &#147;as-converted&#148; basis based on the number of shares of Class A Common Stock, in the aggregate and without duplication, into which the Pre-IPO Company Securities owned of record thereby (whether vested or unvested) are directly or indirectly convertible or exchangeable; <u>provided</u> that, for the purposes of clause (b)(i) only, such total number of Pre-IPO Company Securities owned by the undersigned and their Permitted Transferees shall be determined based on the number of such Pre-IPO Company Securities that would have been owned thereby as of the Reorganization Date assuming the Midpoint Liquidation Value was the Hypothetical Liquidation Value and the IPO price per share of the Class&nbsp;A Common Stock was the IPO Price Range Midpoint.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Notwithstanding anything herein to the contrary, the Lock-Up Restrictions shall not apply to (i)&nbsp;shares of Company Common Stock and any securities then convertible into or exchangeable for shares of Company Common Stock acquired (x)&nbsp;in open market transactions after the completion of the IPO or (y)&nbsp;pursuant to awards under the Company MIP (including any IPO Grants), (ii) the establishment of a trading plan pursuant to Rule&nbsp;10b5-1 under the Securities Exchange Act of 1934, as amended (the &#147;<b>Exchange Act</b>&#148;), for the Transfer of shares of Company Common Stock; provided that such plan does not provide for the Transfer of shares of Company Common Stock not otherwise permitted pursuant to clause (b)&nbsp;above, (iii)&nbsp;the granting of a revocable proxy to officers or directors of the Company at the request of the board of directors of the Company (the &#147;<b>Board</b>&#148;) in connection with actions to be taken at annual or special meetings of stockholders or in connection with any action by written consent of the stockholders solicited by the Board (at such times as action by written consent of stockholders is permitted under the certificate of incorporation of the Company), (iv) entering into a voting trust, agreement or arrangement (with or without granting a proxy) solely with the Company and/or its stockholders that (A)&nbsp;is disclosed in writing to the Secretary of the Company, (B)&nbsp;either has a term not exceeding one (1)&nbsp;year or is terminable by the undersigned at any time and (C)&nbsp;does not involve any payment of cash, securities, property or other consideration to the undersigned other than the mutual promise to vote Pre-IPO Company Securities in a designated manner, (v)</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3<a name="26867-3-NZ-01_PB_3_071134_5335"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=3,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="11",CHK=31595,FOLIO='3',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NZ-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:04 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">entering into a customary voting or support agreement (with or without granting a proxy) in connection with any merger, consolidation or other business combination of the Company, whether effectuated through one transaction or series of related transactions (including a tender offer followed by a merger in which holders of Class&nbsp;A Common Stock receive the same consideration per share paid in the tender offer) (a &#147;<b>Business Combination</b>&#148;), (vi)&nbsp;the fact that the spouse of the Executive possesses or obtains an interest in such holder&#146;s Pre-IPO Company Securities arising solely by reason of the application of the community property laws of any jurisdiction, so long as no other event or circumstance shall exist or have occurred that constitutes a Transfer of such shares of Pre-IPO Company Securities, (vii)&nbsp;any Transfer in connection with, and as contemplated by, the Reorganization Agreement, (viii)&nbsp;any Transfer pursuant to any Business Combination and, to the extent such Business Combination is a Disposition Event (as such term is defined in the certificate of incorporation of the Company), following such Disposition Event (it being understood and agreed that, to the extent such Business Combination is not a Disposition Event, the Lock-Up Restrictions shall continue to apply to any securities into which such Pre-IPO Company Securities are exchanged or converted in such Business Combination), (ix)&nbsp;transfers of Pre-IPO Company Securities to Permitted Transferees; provided that such Permitted Transferee shall have executed and delivered to the Company such instruments as the Company deems necessary or desirable, in its reasonable discretion, to confirm the agreement of such Permitted Transferee to be bound by all the terms and provisions of this letter agreement and that, except as otherwise required by Applicable Law, such Permitted Transferee shall immediately Transfer such Pre-IPO Company Securities and all rights and obligations hereunder to the undersigned or another Permitted Transferee at such time that it ceases to be a Permitted Transferee, (x)&nbsp;the pledge of Pre-IPO Company Securities by the undersigned that creates a mere security interest in such Pre-IPO Company Securities pursuant to a bona fide loan or indebtedness transaction so long as the undersigned continue to exercise sole voting control over such pledged Pre-IPO Company Securities; <u>provided</u>, however, that a foreclosure on such Pre-IPO Company Securities or other similar action by the pledgee shall constitute a Transfer for the purposes of the Lock-Up Restrictions, or (xi)&nbsp;any Exchange (as such term is defined in the Exchange Agreement), it being understood and agreed that any shares of Class&nbsp;[A/B] Common Stock issued in such Exchange shall continue to be subject to the Lock-Up Restrictions.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The undersigned also agrees and consents to the entry of stop transfer instructions with the Company&#146;s transfer agent and registrar against the transfer of the undersigned&#146;s shares of Company Common Stock except in compliance with the foregoing restrictions.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">For the avoidance of doubt, in addition to the Lock-Up Restrictions, (i)&nbsp;any Transfer of Common Units shall be subject to the restrictions on Transfer applicable thereto pursuant to the Virtu LLC Agreement and (ii)&nbsp;the Common Units in which the undersigned have a direct or indirect ownership interest shall be subject to the restrictions on exchange set forth in the Exchange Agreement (collectively, the &#147;<b>Transfer Restrictions</b>&#148;).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">3.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Restrictive Covenants</font></b><font size="2" style="font-size:10.0pt;">.&#160; The undersigned hereby acknowledge and agree that they shall continue to be bound by the Virtu LLC Agreement as Members thereof, including, for the avoidance of doubt, the restrictive covenants set forth in Section&nbsp;9.04 of the Virtu LLC Agreement, in accordance with the terms and conditions thereof.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4<a name="26867-3-NZ-01_PB_4_071150_5796"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=4,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="11",CHK=914092,FOLIO='4',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NZ-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:04 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">4.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Definitions.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Affiliate</b>&#148; means, with respect to any Person, any other Person directly or indirectly controlling, controlled by, or under common control with such Person; <u>provided</u> that no holder of Pre-IPO Company Securities nor any Affiliate of such holder shall be deemed to be an Affiliate of any other holder of Pre-IPO Company Securities or any of its Affiliates solely by virtue of such holder&#146;s Pre-IPO Company Securities.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Applicable Law</b>&#148; means, with respect to any Person, any federal, state or local law (statutory, common or otherwise), constitution, treaty, convention, ordinance, code, rule, regulation, order, injunction, judgment, decree, ruling or other similar requirement enacted, adopted, promulgated or applied by a Governmental Authority or Regulatory Agency that is binding upon or applicable to such Person or its assets, as amended unless expressly specified otherwise.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Class&nbsp;C Common Stock</b>&#148; means Class&nbsp;C common stock, $0.00001 par value per share, of the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Class&nbsp;D Common Stock</b>&#148; means Class&nbsp;D common stock, $0.00001 par value per share, of the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Company Common Stock</b>&#148; means all classes and series of common stock of the Company, including the Class&nbsp;A Common Stock and Class&nbsp;C Common Stock.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Company MIP</b>&#148; means the Virtu Financial,&nbsp;Inc. 2015 Management Incentive Plan.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Control</b>&#148; (including the terms &#147;<u>controlling</u>&#148; and &#147;<u>controlled</u>&#148;), with respect to the relationship between or among two or more Persons, means the possession, directly or indirectly, of the power to direct or cause the direction of the affairs or management of such subject Person, whether through the ownership of voting securities, as trustee or executor, by contract or otherwise.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>East MIP</b>&#148; means Virtu East MIP LLC, a Delaware limited liability company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Equity Purchase Agreement</b>&#148; means the Purchase Agreement by and among the Company, Virtu LLC and certain other members of Virtu LLC.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Exchange Agreement</b>&#148; means the Exchange Agreement, dated as of the Reorganization Date, by and among the Company, Virtu LLC and the holders of Common Units and shares of Class&nbsp;C Common Stock and Class&nbsp;D Common Stock from time to time party thereto.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(k)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Governmental Authority</b>&#148; means any transnational, domestic or foreign, federal, state or local governmental, regulatory or administrative authority, department, court, agency or official, including any subdivision thereof.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5<a name="26867-3-NZ-01_PB_5_071200_2897"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=5,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="11",CHK=469004,FOLIO='5',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NZ-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:04 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(l)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>IPO Price Range Midpoint</b>&#148; means the midpoint of the estimated public offering price range for the Class&nbsp;A Common Stock set forth on the cover page&nbsp;of the preliminary prospectus forming a part of the registration statement on Form&nbsp;S-1 filed by the Company with the Securities and Exchange Commission on [&nbsp;&nbsp;&nbsp;&nbsp;], 2015.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(m)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Midpoint Liquidation Value</b>&#148; means the aggregate equity value of Virtu LLC as of the Reorganization Date implied by the IPO Price Range Midpoint.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(n)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Permitted Transferee</b>&#148; means, with respect to the undersigned, (i)&nbsp;any immediate family member of the Executive (which would include parents, grandparents, lineal descendants, siblings of the Executive or the Executive&#146;s spouse, and lineal descendants of siblings of the Executive or the Executive&#146;s spouse) or any trust, family-partnership or estate-planning vehicle so long as the Executive and/or his or her immediate family members are the sole economic beneficiaries thereof, (ii)&nbsp;any corporation, limited liability company, partnership or other entity of which all of the economic beneficial ownership thereof belongs to the Executive, his or her immediate family members or any trust, family-partnership or estate-planning vehicle whose economic beneficiaries consist solely of the Executive and/or his or her immediate family members, (iii)&nbsp;a charitable institution controlled by the Executive, (iv)&nbsp;an individual mandated under a qualified domestic relations order and (v)&nbsp;a legal or personal representative of the Executive in the event of his or her death or disability.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(o)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Person</b>&#148; means, any individual, firm, corporation, partnership, limited liability company, trust, estate, joint venture, Governmental Authority or other entity.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(p)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Pre-IPO Company Securities</b>&#148; means (i)&nbsp;any Common Units and any corresponding shares of Class&nbsp;[C/D] Common Stock and (ii)&nbsp;any shares any Company Common Stock (x)&nbsp;into which the foregoing are converted or exchanged (including pursuant to an exchange of Common Units, together with shares of Class&nbsp;[C/D] Common Stock, for shares of Class&nbsp;[A/B] Common Stock pursuant to the Exchange Agreement) or (y)&nbsp;that are distributed in respect of the foregoing.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(q)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Registration Rights Agreement</b>&#148; means the Registration Rights Agreement by and among the Company and the stockholders party thereto, dated as of the Reorganization Date.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(r)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Regulatory Agency</b>&#148; means the Securities and Exchange Commission, the Financial Industry Regulatory Authority, the Financial Services Authority, any non-U.S. regulatory agency and any other regulatory authority or body (including any state or provincial securities authority and any self-regulatory organization) with jurisdiction over the Company, Virtu LLC or any of Virtu LLC&#146;s subsidiaries.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(s)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Reorganization Agreement</b>&#148; means the Reorganization Agreement, dated as of the Reorganization Date, by and among the Company, Virtu LLC, Virtu Employee Holdco, East MIP and the other Persons listed on the signature pages&nbsp;thereto.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(t)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Reorganization Date</b>&#148; means the date on which transactions contemplated by the Reorganization Agreement are consummated.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6<a name="26867-3-NZ-01_PB_6_071210_3020"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=6,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="11",CHK=986706,FOLIO='6',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NZ-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:04 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(u)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Reorganization Documents</b>&#148; means the Reorganization Agreement, the Virtu LLC Agreement, the Virtu Employee Holdco LLC Agreement, the Tax Receivable Agreement, the Exchange Agreement, the Registration Rights Agreement, the Virtu LLC MIP and this letter.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Tax Receivable Agreement</b>&#148; means the Tax Receivable Agreement by and among the Company, the undersigned and the other persons listed on the signature pages&nbsp;thereto.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(w)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Transfer</b>&#148; means any offer, sale, contract to sell, grant of an option to purchase, short sale, assignment, transfer, exchange, gift, bequest, pledge or other disposition or encumbrance, direct or indirect, in whole or in part, by operation of law or otherwise.&#160; The foregoing restriction is expressly agreed to preclude the relevant person from engaging in any hedging or other transaction which is designed to or which reasonably could be expected to lead to or result in a sale or disposition of the referent securities even if such securities would be disposed of by someone other than such person. Such prohibited hedging or other transactions would include any short sale or any purchase, sale or grant of any right (including any put or call option) with respect to any of the referent securities or with respect to any security that includes, relates to, or derives any significant part of its value from such securities.&#160; The terms &#147;<u>Transferred</u>&#148;, &#147;<u>Transferring</u>&#148;, &#147;<u>Transferor</u>&#148;, &#147;<u>Transferee</u>&#148; and &#147;<u>Transferable</u>&#148; have meanings correlative to the foregoing.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(x)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Virtu Employee Holdco</b>&#148; means Virtu Employee Holdco LLC, a Delaware limited liability company and special purpose vehicle through which the members thereof indirectly own Common Units.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(y)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Virtu Employee Holdco LLC Agreement</b>&#148; means the Amended and Restated Limited Liability Company Agreement of Virtu Employee Holdco, dated as of the Reorganization Date.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(z)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Virtu LLC Agreement</b>&#148; means the Third Amended and Restated Limited Liability Company Agreement of Virtu LLC, dated as of the Reorganization Date, in the form attached hereto as <u>Exhibit&nbsp;B</u>.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(aa)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">[&#147;<b>Virtu LLC MIP</b>&#148; means the Virtu LLC Management Incentive Plan, as amended.]</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">5.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Miscellaneous.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">IPO</font></u><font size="2" style="font-size:10.0pt;">.&#160; The undersigned understand that the Company is relying upon this letter agreement in proceeding toward consummation of the IPO.&#160; The undersigned further understands that this letter agreement is irrevocable and shall be binding upon the undersigned&#146;s heirs, legal representatives, successors and assigns.&#160; This letter agreement shall lapse and become null and void if the IPO shall not have occurred on or before [&#160;&#160; ], 2015 or earlier if the Company has provided written notice to the undersigned that it has determined not to pursue the IPO. Whether or not the IPO actually occurs depends on a number of factors, including market conditions.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7<a name="26867-3-NZ-01_PB_7_071227_7748"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=7,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="11",CHK=98271,FOLIO='7',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NZ-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:04 2015' -->

<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Amendment and Waiver</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Any provision of this letter agreement may be amended or waived if, but only if, such amendment or waiver is in writing and is signed, in the case of an amendment, by each party to this letter agreement or, in the case of a waiver, by each party against whom the waiver is to be effective.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">No failure or delay by any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by Applicable Law.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Binding Effect; Benefit; Assignment</font></u><font size="2" style="font-size:10.0pt;">. The provisions of this letter agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns.&#160; No provision of this letter agreement is intended to confer any rights, benefits, remedies, obligations or liabilities hereunder upon any Person other than the parties hereto and their respective successors and assigns.&#160; No party may assign, delegate or otherwise transfer any of its rights or obligations under this letter agreement without the consent of each other party hereto, except that the Company may transfer or assign its rights and obligations under this letter agreement, in whole or from time to time in part, to any Person; provided that such transfer or assignment shall not relieve the Company of its obligations hereunder or enlarge, alter or change any obligation of any other party hereto or due to the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Governing Law</font></u><font size="2" style="font-size:10.0pt;">.&#160; This letter agreement, and all claims or causes of action (whether in contract or tort) that may be based upon, arise out of or relate to this letter agreement, shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to the conflicts of law rules&nbsp;of such state.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Jurisdiction</font></u><font size="2" style="font-size:10.0pt;">.&#160; The parties hereto agree that any suit, action or proceeding seeking to enforce any provision of, or based on any matter arising out of or in connection with, this letter agreement or the transactions contemplated hereby (whether brought by any party or any of its Affiliates or against any party or any of its Affiliates) shall be brought in the Delaware Chancery Court or, if such court shall not have jurisdiction, any federal court located in the State of Delaware or other Delaware state court, and each of the parties hereby irrevocably consents to the jurisdiction of such courts (and of the appropriate appellate courts therefrom) in any such suit, action or proceeding and irrevocably waives, to the fullest extent permitted by law, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum.&#160; Process in any such suit, action or proceeding may be served on any party anywhere in the world, whether within or without the jurisdiction of any such court.&#160; Without limiting the foregoing, the undersigned agrees that service of process on such party as at the address provided on the signature page&nbsp;hereto shall be deemed effective service of process on the undersigned.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">WAIVER OF JURY TRIAL</font></u><font size="2" style="font-size:10.0pt;">. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8<a name="26867-3-NZ-03_PB_8_071643_141"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=8,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="11",CHK=379063,FOLIO='8',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NZ-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 07:57 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Counterparts; Effectiveness</font></u><font size="2" style="font-size:10.0pt;">. This letter agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This letter agreement shall be deemed entered into when each party hereto shall have received a counterpart hereof signed by all of the other parties hereto. Until and unless each party has received a counterpart hereof signed by the other party hereto, this letter agreement shall have no effect and no party shall have any right or obligation hereunder (whether by virtue of any other oral or written agreement or other communication).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Entire Agreement</font></u><font size="2" style="font-size:10.0pt;">. This letter agreement, the Reorganization Documents and the Company MIP (and any award to the undersigned under any of the foregoing), constitute the entire agreement between the parties with respect to the subject matter of this letter agreement and supersede all prior agreements and understandings, both oral and written, between the parties with respect to the subject matter of this letter agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Severability</font></u><font size="2" style="font-size:10.0pt;">. If any term or provision of this letter agreement is held by a court of competent jurisdiction or other Governmental Authority to be invalid, void or unenforceable, the remainder of the terms or provisions of this letter agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Interpretation</font></u><font size="2" style="font-size:10.0pt;">.&#160; Each and every provision of this letter agreement shall be construed as though both parties participated equally in the drafting of the same, and any rule&nbsp;of construction that a document shall be construed against the drafting party shall not be applicable to this letter agreement.&#160; The words &#147;hereof&#148;, &#147;herein&#148; and &#147;hereunder&#148; and words of like import used in this letter agreement shall refer to this letter agreement as a whole and not to any particular provision of this letter agreement.&#160; The captions herein are included for convenience of reference only and shall be ignored in the construction or interpretation hereof.&#160; Any singular term in this letter agreement shall be deemed to include the plural, and any plural term the singular.&#160; Whenever the words &#147;include&#148;, &#147;includes&#148; or &#147;including&#148; are used in this letter agreement, they shall be deemed to be followed by the words &#147;without limitation&#148;, whether or not they are in fact followed by those words or words of like import.&#160; &#147;Writing&#148;, &#147;written&#148; and comparable terms refer to printing, typing and other means of reproducing words (including electronic media) in a visible form.&#160; References to any statute shall be deemed to refer to such statute as amended from time to time and to any rules&nbsp;or regulations promulgated thereunder.&#160; References to any agreement or contract are to that agreement or contract as amended, modified or supplemented from time to time in accordance with the terms hereof and thereof.&#160; References to any Person include the successors and permitted assigns of that Person.&#160; References from or through any date mean, unless otherwise specified, from and including or through and including, respectively.&#160; References to &#147;law&#148;, &#147;laws&#148; or to a particular statute or law shall be deemed also to include any Applicable Law.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">[signature pages&nbsp;follow]</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9<a name="26867-3-NZ-03_PB_9_071654_7608"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=9,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="11",CHK=225517,FOLIO='9',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NZ-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 07:57 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Very truly yours,</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Employee]</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Family Entity]</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address)</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Acknowledged and Agreed:</font></p>    </td>   </tr>
<tr>
<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">VIRTU FINANCIAL,&nbsp;INC.</font></p>    </td>   </tr>
<tr>
<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="46%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:46.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>
<tr>
<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">VIRTU FINANCIAL LLC</font></p>    </td>   </tr>
<tr>
<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="46%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:46.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=10,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="11",CHK=53644,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NZ-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 07:57 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit&nbsp;A</font></u></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Existing Equity Interests</font></u></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="27%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:27.02%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Class&nbsp;of&nbsp;Equity&nbsp;Interests</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Date&nbsp;of&nbsp;Grant</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Vesting&nbsp;Term</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Total&nbsp;Equity<br>   Interests</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Vested&nbsp;Equity&nbsp;<br>   Interests</font></b></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.96%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="13%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:13.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Unvested&nbsp;Equity<br>   Interests</font></b></p>    </td>   </tr>
<tr>
<td width="27%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:27.02%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Class&nbsp;A-2 Capital Interests of   Virtu Financial LLC</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:12.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.96%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:13.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>    </td>   </tr>
<tr>
<td width="27%" valign="top" style="padding:0in 0in 0in 0in;width:27.02%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Class&nbsp;B Interests of Virtu   Financial LLC]</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.96%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="27%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:27.02%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Class&nbsp;A Interests of Virtu East   MIP LLC</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.96%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:13.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=11,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="11",CHK=742136,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NZ-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 07:57 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit&nbsp;B</font></u></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Virtu Financial LLC Agreement</font></u></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">See attached.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=12,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="11",CHK=429373,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-NZ-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 07:57 2015' -->

<BR>
<!-- TOCEXISTFLAG -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.18
<SEQUENCE>12
<FILENAME>a2223212zex-10_18.htm
<DESCRIPTION>EX-10.18
<TEXT>
<HTML>
<HEAD>
</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>
<div style="font-family:Times New Roman;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 10.18</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">UNIT VESTING, EQUITY RETENTION AND<br> &#160;RESTRICTIVE COVENANT AGREEMENT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2015</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Douglas A. Cifu</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;"><br> Chief Executive Officer<br> Virtu Financial,&nbsp;Inc. <br> 645 Madison Avenue<br> New York, New York 10022-1010</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Re:&#160; Unit Vesting, Equity Retention and Restrictive Covenant Agreement</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dear Mr.&nbsp;Cifu:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The undersigned understands that Virtu Financial LLC, a Delaware limited liability company (&#147;<b>Virtu LLC</b>&#148;), proposes to consummate a reorganization in connection with an initial public offering (the &#147;<b>IPO</b>&#148;) of Class&nbsp;A common stock, $0.00001 par value per share (&#147;<b>Class&nbsp;A Common Stock</b>&#148;), of Virtu Financial,&nbsp;Inc., a Delaware corporation (the &#147;<b>Company</b>&#148;).&#160; In connection with the IPO, the Company requires that management employees who hold Pre-IPO Company Securities be subject to certain restrictions regarding the sale and transfer of such Pre-IPO Company Securities and acknowledge and agree to continue to be bound by certain post-termination restrictive covenants, as further described herein.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Equity Reclassification</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The undersigned owns (i)&nbsp;limited liability company interests of Virtu Employee Holdco (&#147;<b>Existing Virtu Employee Holdco Interests</b>&#148;), which represent an indirect interest in a number of attributable outstanding limited liability company interests of Virtu LLC (&#147;<b>Existing Virtu LLC Interests</b>&#148;) and (ii)&nbsp;Class&nbsp;B limited liability company interests of East MIP (&#147;<b>East MIP Interests</b>&#148;), which represent an indirect interest in a number of Existing Virtu LLC Interests.&#160; In accordance with the Reorganization Agreement, immediately prior to the date and time the IPO becomes effective, among other things, (x)&nbsp;East MIP will be liquidated, and in connection therewith, holders of East MIP Interests will be distributed additional Existing Virtu Employee Holdco Interests and (y)&nbsp;all outstanding Existing Virtu LLC Interests will be reclassified into non-voting common limited liability company interests of Virtu LLC (&#147;<b>Common Units</b>&#148;) based on a hypothetical liquidation value of Virtu LLC (the &#147;<b>Hypothetical Liquidation Value</b>&#148;) and the IPO price per share of the Class&nbsp;A Common Stock.&#160; In connection with such reclassification, all Existing Virtu Employee Holdco Interests, including those distributed to the holders of East MIP Interests in connection with the liquidation of East MIP, will be reclassified into non-voting common limited liability company interests of Virtu Employee Holdco (&#147;<b>Virtu Employee Holdco Common Units</b>&#148;) representing an indirect interest in a number of attributable Common Units.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=1,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="12",CHK=517900,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-PQ-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:06 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">In addition, Virtu Employee Holdco, on behalf of the undersigned, will subscribe for a number of shares of Class&nbsp;C Common Stock equal to the number of Common Units indirectly held by the undersigned in Virtu Employee Holdco.&#160; From and after the IPO, subject to the Lock-Up Restrictions and Transfer Restrictions described below, such Common Units, together with such shares of Class&nbsp;C Common Stock, are distributable to the undersigned and subsequently exchangeable for shares of Class&nbsp;A Common Stock pursuant to the Exchange Agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The undersigned acknowledges and agrees that the equity interests set forth on <u>Exhibit&nbsp;A</u> attached hereto (i)&nbsp;represent all of the undersigned&#146;s vested and unvested Existing Virtu Employee Holdco Interests and East MIP Interests and (ii)&nbsp;after giving effect to the transactions described in paragraph 1(a), the undersigned&#146;s Virtu Employee Holdco Common Units will continue to be subject to (x)&nbsp;the vesting terms applicable to such equity interests as in effect immediately prior to the IPO as set forth on <u>Exhibit&nbsp;A</u> attached hereto, (y)&nbsp;the Employee Holdco LLC Agreement, and (z)&nbsp;the Virtu LLC MIP.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">As soon as reasonably practicable following the IPO, the undersigned will be provided by Virtu LLC with written notice setting forth the portion of the Hypothetical Liquidation Value represented by the undersigned&#146;s indirect interests in attributable Existing Virtu LLC Interests and the resulting number of Virtu Employee Holdco Common Units that he or she then owns after giving effect to the transactions contemplated by the Reorganization Agreement and the IPO.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Equity Retention</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Except as otherwise provided herein, the undersigned hereby agrees that, without the prior written consent of the Company, the undersigned will not directly or indirectly Transfer all or any part of his or her Pre-IPO Company Securities or any right or economic interest pertaining thereto, including the right to vote or consent on any matter or to receive or have any economic interest in distributions or advances from the Company or Virtu LLC pursuant thereto (the foregoing restrictions are hereinafter referred to as the &#147;<b>Lock-Up Restrictions</b>&#148;).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Notwithstanding anything herein to the contrary, the Lock-Up Restrictions shall cease to apply to the Pre-IPO Company Securities as follows:</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">upon the consummation of the IPO, the undersigned may Transfer up to 15% of his or her Pre-IPO Company Securities pursuant to the Equity Purchase Agreements, to the extent such Pre-IPO Company Securities have vested;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">on and after the first (1</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">st</font><font size="2" style="font-size:10.0pt;">) anniversary of the consummation of the IPO, the undersigned may Transfer up to a cumulative 30% of his or her Pre-IPO Company Securities, to the extent such Pre-IPO Company Securities have vested;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">on and after the second (2</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">nd</font><font size="2" style="font-size:10.0pt;">) anniversary of the consummation of the IPO, the undersigned may Transfer up to a cumulative 45% of his or her Pre-IPO Company Securities, to the extent such Pre-IPO Company Securities have vested;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2<a name="26867-3-PQ-01_PB_2_080016_8146"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=2,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="12",CHK=536804,FOLIO='2',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-PQ-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:06 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">on and after the third (3</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">rd</font><font size="2" style="font-size:10.0pt;">) anniversary of the consummation of the IPO, the undersigned may Transfer up to a cumulative 60% of his or her Pre-IPO Company Securities, to the extent such Pre-IPO Company Securities have vested;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">on and after the fourth (4</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font><font size="2" style="font-size:10.0pt;">) anniversary of the consummation of the IPO, the undersigned may Transfer up to a cumulative 75% of his or her Pre-IPO Company Securities, to the extent such Pre-IPO Company Securities have vested;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">on and after the fifth (5</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font><font size="2" style="font-size:10.0pt;">) anniversary of the consummation of the IPO, the undersigned may Transfer up to a cumulative 90% of his or her Pre-IPO Company Securities, to the extent such Pre-IPO Company Securities have vested; and</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">on and after the sixth (6</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font><font size="2" style="font-size:10.0pt;">) anniversary of the consummation of the IPO, the Lock-Up Restrictions shall no longer apply, and the undersigned may Transfer any or all of his or her remaining Pre-IPO Company Securities, to the extent such Pre-IPO Company Securities have vested.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For the purposes of this paragraph 2(b), the percentage of Pre-IPO Company Securities permitted to be Transferred shall be determined based on the total number of shares of Class&nbsp;A Common Stock owned by the undersigned as of the Reorganization Date (including any Pre-IPO Company Securities to be sold thereby pursuant to the Equity Purchase Agreements, but excluding any shares of Class&nbsp;A Common stock underlying awards under the Company MIP made thereto in connection with the IPO (&#147;<b>IPO Grants</b>&#148;)), in each case, determined on an &#147;as-converted&#148; basis based on the number of shares of Class&nbsp;A Common Stock, in the aggregate and without duplication, into which the Pre-IPO Company Securities owned of record thereby (whether vested or unvested) are directly or indirectly convertible or exchangeable; <u>provided</u> that, for the purposes of clause (b)(i)&nbsp;only, such total number of Pre-IPO Company Securities owned by the undersigned shall be determined based on the number of such Pre-IPO Company Securities that would have been owned thereby as of the Reorganization Date assuming the Midpoint Liquidation Value was the Hypothetical Liquidation Value and the IPO price per share of the Class&nbsp;A Common Stock was the IPO Price Range Midpoint.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Notwithstanding anything herein to the contrary, the Lock-Up Restrictions shall not apply to (i)&nbsp;shares of Company Common Stock and any securities then convertible into or exchangeable for shares of Company Common Stock acquired (x)&nbsp;in open market transactions after the completion of the IPO or (y)&nbsp;pursuant to awards under the Company MIP (including any IPO Grants), (ii) the establishment of a trading plan pursuant to Rule&nbsp;10b5-1 under the Securities Exchange Act of 1934, as amended (the &#147;<b>Exchange Act</b>&#148;), for the Transfer of shares of Company Common Stock; provided that such plan does not provide for the Transfer of shares of Company Common Stock not otherwise permitted pursuant to clause (b)&nbsp;above, (iii)&nbsp;the granting of a revocable proxy to officers or directors of the Company at the request of the board of directors of the Company (the &#147;<b>Board</b>&#148;) in connection with actions to be taken at annual or special meetings of stockholders or in connection with any action by written consent of the stockholders solicited by the Board (at such times as action by written consent of stockholders is permitted under the certificate of incorporation of the Company), (iv)&nbsp;entering into a voting trust, agreement or arrangement (with or without granting a proxy) solely with the Company and/or its stockholders that (A)&nbsp;is disclosed in writing to the Secretary of the Company, (B)&nbsp;either has a</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3<a name="26867-3-PQ-01_PB_3_080030_7091"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=3,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="12",CHK=277310,FOLIO='3',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-PQ-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:06 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">term not exceeding one (1)&nbsp;year or is terminable by the undersigned at any time and (C)&nbsp;does not involve any payment of cash, securities, property or other consideration to the undersigned other than the mutual promise to vote Pre-IPO Company Securities in a designated manner, (v)&nbsp;entering into a customary voting or support agreement (with or without granting a proxy) in connection with&#160; any merger, consolidation or other business combination of the Company, whether effectuated through one transaction or series of related transactions (including a tender offer followed by a merger in which holders of Class&nbsp;A Common Stock&#160; receive the same consideration per share paid in the tender offer) (a &#147;<b>Business Combination</b>&#148;), (vi)&nbsp;the fact that the spouse of the undersigned possesses or obtains an interest in such holder&#146;s Pre-IPO Company Securities arising solely by reason of the application of the community property laws of any jurisdiction, so long as no other event or circumstance shall exist or have occurred that constitutes a Transfer of such shares of Pre-IPO Company Securities, (vii)&nbsp;any Transfer in connection with, and as contemplated by, the Reorganization Agreement, (viii)&nbsp;any Transfer pursuant to any Business Combination and, to the extent such Business Combination is a Disposition Event (as such term is defined in the certificate of incorporation of the Company), following such Disposition Event (it being understood and agreed that, to the extent such Business Combination is not a Disposition Event, the Lock-Up Restrictions shall continue to apply to any securities into which such Pre-IPO Company Securities are exchanged or converted in such Business Combination).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The undersigned also agrees and consents to the entry of stop transfer instructions with the Company&#146;s transfer agent and registrar against the transfer of the undersigned&#146;s shares of Company Common Stock except in compliance with the foregoing restrictions.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">For the avoidance of doubt, in addition to the Lock-Up Restrictions, (i)&nbsp;any Transfer of Virtu Employee Holdco Common Units shall be subject to the restrictions on Transfer applicable thereto pursuant to the Virtu Employee Holdco LLC Agreement and (ii)&nbsp;the attributable Common Units in which the undersigned has an indirect ownership interest shall be subject to the restrictions on exchange set forth in the Exchange Agreement (collectively, the &#147;<b>Transfer Restrictions</b>&#148;); provided that, the Lock-Up Restrictions shall not preclude the undersigned from delivering a Transfer Election (as such term is defined in the Virtu Employee Holdco LLC Agreement) in connection with an Exchange (as such term is defined in the Exchange Agreement), so long as such Exchange is not consummated prior to the date the undersigned would be entitled to Transfer the shares of Class&nbsp;A Common Stock issuable in such Exchange in accordance with the Lock-Up Restrictions.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">3.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Restrictive Covenants</font></b><font size="2" style="font-size:10.0pt;">.&#160; The undersigned hereby acknowledges and agrees that he or she shall continue to be bound by the Virtu Employee Holdco LLC Agreement as a Member thereof, including, for the avoidance of doubt, the restrictive covenants set forth in Section&nbsp;9.04 thereof, in accordance with the terms and conditions thereof.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">4.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Definitions.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Affiliate</b>&#148; means, with respect to any Person, any other Person directly or indirectly controlling, controlled by, or under common control with such Person; <u>provided</u> that no holder of Pre-IPO Company Securities nor any Affiliate of such holder shall be deemed to be</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4<a name="26867-3-PQ-01_PB_4_080040_455"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=4,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="12",CHK=915941,FOLIO='4',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-PQ-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:06 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">an Affiliate of any other holder of Pre-IPO Company Securities or any of its Affiliates solely by virtue of such holder&#146;s Pre-IPO Company Securities.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Applicable Law</b>&#148; means, with respect to any Person, any federal, state or local law (statutory, common or otherwise), constitution, treaty, convention, ordinance, code, rule, regulation, order, injunction, judgment, decree, ruling or other similar requirement enacted, adopted, promulgated or applied by a Governmental Authority or Regulatory Agency that is binding upon or applicable to such Person or its assets, as amended unless expressly specified otherwise.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Class&nbsp;C Common Stock</b>&#148; means Class&nbsp;C common stock, $0.00001 par value per share, of the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Class&nbsp;D Common Stock</b>&#148; means Class&nbsp;D common stock, $0.00001 par value per share, of the Company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Company Common Stock</b>&#148; means all classes and series of common stock of the Company, including the Class&nbsp;A Common Stock and Class&nbsp;C Common Stock.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Company MIP</b>&#148; means the Virtu Financial,&nbsp;Inc. 2015 Management Incentive Plan.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Control</b>&#148; (including the terms &#147;<u>controlling</u>&#148; and &#147;<u>controlled</u>&#148;), with respect to the relationship between or among two or more Persons, means the possession, directly or indirectly, of the power to direct or cause the direction of the affairs or management of such subject Person, whether through the ownership of voting securities, as trustee or executor, by contract or otherwise.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>East MIP</b>&#148; means Virtu East MIP LLC, a Delaware limited liability company.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Equity Purchase Agreements</b>&#148; means (i)&nbsp;the Purchase Agreement by and among the Company, Virtu LLC and certain other members of Virtu LLC and (ii)&nbsp;the Redemption Agreement by and among Virtu Employee Holdco and certain members thereof, in each case dated on or about the Reorganization Date.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Exchange Agreement</b>&#148; means the Exchange Agreement, dated as of the Reorganization Date, by and among the Company, Virtu LLC and the holders of Common Units and shares of Class&nbsp;C Common Stock and Class&nbsp;D Common Stock from time to time party thereto.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(k)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Governmental Authority</b>&#148; means any transnational, domestic or foreign, federal, state or local governmental, regulatory or administrative authority, department, court, agency or official, including any subdivision thereof.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(l)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>IPO Price Range Midpoint</b>&#148; means the midpoint of the estimated public offering price range for the Class&nbsp;A Common Stock set forth on the cover page&nbsp;of the preliminary prospectus forming a part of the registration statement on Form&nbsp;S-1 filed by the Company with the Securities and Exchange Commission on [&nbsp;&nbsp;&nbsp;&nbsp;], 2015.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5<a name="26867-3-PQ-01_PB_5_080048_4141"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=5,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="12",CHK=393515,FOLIO='5',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-PQ-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:06 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(m)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Midpoint Liquidation Value</b>&#148; means the aggregate equity value of Virtu LLC as of the Reorganization Date implied by the IPO Price Range Midpoint.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(n)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Person</b>&#148; means, any individual, firm, corporation, partnership, limited liability company, trust, estate, joint venture, Governmental Authority or other entity.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(o)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Pre-IPO Company Securities</b>&#148; means (i)&nbsp;any Virtu Employee Holdco Common Units and (ii)&nbsp;any Common Units or shares of Company Common Stock (x)&nbsp;into which the foregoing are converted or exchanged (including pursuant to an exchange of Common Units, together with shares of Class&nbsp;C Common Stock, for shares of Class&nbsp;A Common Stock pursuant to the Exchange Agreement) or (y)&nbsp;that are distributed in respect of the foregoing.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(p)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Registration Rights Agreement</b>&#148; means the Registration Rights Agreement by and among the Company and the stockholders party thereto, dated as of the Reorganization Date.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(q)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Regulatory Agency</b>&#148; means the Securities and Exchange Commission, the Financial Industry Regulatory Authority, the Financial Services Authority, any non-U.S. regulatory agency and any other regulatory authority or body (including any state or provincial securities authority and any self-regulatory organization) with jurisdiction over the Company, Virtu LLC or any of Virtu LLC&#146;s subsidiaries.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(r)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Reorganization Agreement</b>&#148; means the Reorganization Agreement, dated as of the Reorganization Date, by and among the Company, Virtu LLC, Virtu Employee Holdco, East MIP and the other Persons listed on the signature pages&nbsp;thereto.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(s)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Reorganization Date</b>&#148; means the date on which transactions contemplated by the Reorganization Agreement are consummated.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(t)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Reorganization Documents</b>&#148; means the Reorganization Agreement, the Virtu LLC Agreement, the Virtu Employee Holdco LLC Agreement, the Tax Receivable Agreement, the Exchange Agreement, the Registration Rights Agreement, the Virtu LLC MIP, and this letter.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(u)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Tax Receivable Agreement</b>&#148; means the Tax Receivable Agreement by and among the Company, Virtu Employee Holdco and the other persons listed on the signature pages&nbsp;thereto.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Transfer</b>&#148; means any offer, sale, contract to sell, grant of an option to purchase, short sale, assignment, transfer, exchange, gift, bequest, pledge or other disposition or encumbrance, direct or indirect, in whole or in part, by operation of law or otherwise.&#160; The foregoing restriction is expressly agreed to preclude the relevant person from engaging in any hedging or other transaction which is designed to or which reasonably could be expected to lead to or result in a sale or disposition of the referent securities even if such securities would be disposed of by someone other than such person. Such prohibited hedging or other transactions would include any short sale or any purchase, sale or grant of any right (including any put or call option) with respect to any of the referent securities or with respect to any security that includes, relates to, or derives any significant part of its value from such securities.&#160; The terms &#147;<u>Transferred</u>&#148;, &#147;<u>Transferring</u>&#148;, &#147;<u>Transferor</u>&#148;, &#147;<u>Transferee</u>&#148; and &#147;<u>Transferable</u>&#148; have meanings correlative to the foregoing.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6<a name="26867-3-PQ-01_PB_6_080058_8627"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=6,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="12",CHK=907165,FOLIO='6',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-PQ-01_ZDI16703.CHC",USER="BFLANNO",CD='Mar 20 06:06 2015' -->

<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(w)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Virtu Employee Holdco</b>&#148; means Virtu Employee Holdco LLC, a Delaware limited liability company and special purpose vehicle through which the members thereof indirectly own Common Units.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(x)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Virtu Employee Holdco LLC Agreement</b>&#148; means the Amended and Restated Limited Liability Company Agreement of Virtu Employee Holdco, dated as of the Reorganization Date, in the form attached hereto as Exhibit&nbsp;B.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(y)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Virtu LLC Agreement</b>&#148; means the Third Amended and Restated Limited Liability Company Agreement of Virtu LLC, dated as of the Reorganization Date.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(z)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">&#147;<b>Virtu LLC MIP</b>&#148; means the Virtu LLC Management Incentive Plan, as amended.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">5.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Miscellaneous.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">IPO</font></u><font size="2" style="font-size:10.0pt;">.&#160; The undersigned understands that the Company is relying upon this letter agreement in proceeding toward consummation of the IPO.&#160; The undersigned further understands that this letter agreement is irrevocable and shall be binding upon the undersigned&#146;s heirs, legal representatives, successors and assigns.&#160; This letter agreement shall lapse and become null and void if the IPO shall not have occurred on or before [&#160;&#160; ], 2015 or earlier if the Company has provided written notice to the undersigned that it has determined not to pursue the IPO. Whether or not the IPO actually occurs depends on a number of factors, including market conditions.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Amendment and Waiver</font></u><font size="2" style="font-size:10.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Any provision of this letter agreement may be amended or waived if, but only if, such amendment or waiver is in writing and is signed, in the case of an amendment, by each party to this letter agreement or, in the case of a waiver, by each party against whom the waiver is to be effective.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">No failure or delay by any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by Applicable Law.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Binding Effect; Benefit; Assignment</font></u><font size="2" style="font-size:10.0pt;">. The provisions of this letter agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns.&#160; No provision of this letter agreement is intended to confer any rights, benefits, remedies, obligations or liabilities hereunder upon any Person other than the parties hereto and their respective successors and assigns.&#160; No party may assign, delegate or otherwise transfer any of its rights or obligations under this letter agreement without the consent of each other party hereto, except that the Company may transfer or assign its rights and obligations under this letter agreement, in whole or from time to time in part, to any Person; provided that such transfer or assignment shall not relieve the Company of its obligations hereunder or enlarge, alter or change any obligation of any other party hereto or due to the Company.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7<a name="26867-3-PQ-03_PB_7_080302_7906"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=7,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="12",CHK=136026,FOLIO='7',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-PQ-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 12:30 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Governing Law</font></u><font size="2" style="font-size:10.0pt;">.&#160; This letter agreement, and all claims or causes of action (whether in contract or tort) that may be based upon, arise out of or relate to this letter agreement, shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to the conflicts of law rules&nbsp;of such state.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Jurisdiction</font></u><font size="2" style="font-size:10.0pt;">.&#160; The parties hereto agree that any suit, action or proceeding seeking to enforce any provision of, or based on any matter arising out of or in connection with, this letter agreement or the transactions contemplated hereby (whether brought by any party or any of its Affiliates or against any party or any of its Affiliates) shall be brought in the Delaware Chancery Court or, if such court shall not have jurisdiction, any federal court located in the State of Delaware or other Delaware state court, and each of the parties hereby irrevocably consents to the jurisdiction of such courts (and of the appropriate appellate courts therefrom) in any such suit, action or proceeding and irrevocably waives, to the fullest extent permitted by law, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum.&#160; Process in any such suit, action or proceeding may be served on any party anywhere in the world, whether within or without the jurisdiction of any such court.&#160; Without limiting the foregoing, the undersigned agrees that service of process on such party as at the address provided on the signature page&nbsp;hereto shall be deemed effective service of process on the undersigned.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">WAIVER OF JURY TRIAL</font></u><font size="2" style="font-size:10.0pt;">. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Counterparts; Effectiveness</font></u><font size="2" style="font-size:10.0pt;">. This letter agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This letter agreement shall be deemed entered into when each party hereto shall have received a counterpart hereof signed by all of the other parties hereto. Until and unless each party has received a counterpart hereof signed by the other party hereto, this letter agreement shall have no effect and no party shall have any right or obligation hereunder (whether by virtue of any other oral or written agreement or other communication).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Entire Agreement</font></u><font size="2" style="font-size:10.0pt;">. This letter agreement, the Reorganization Documents and the Company MIP (and any award to the undersigned under any of the foregoing), constitute the entire agreement between the parties with respect to the subject matter of this letter agreement and supersede all prior agreements and understandings, both oral and written, between the parties with respect to the subject matter of this letter agreement.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Severability</font></u><font size="2" style="font-size:10.0pt;">. If any term or provision of this letter agreement is held by a court of competent jurisdiction or other Governmental Authority to be invalid, void or unenforceable, the remainder of the terms or provisions of this letter agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8<a name="26867-3-PQ-03_PB_8_080311_3736"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=8,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="12",CHK=27474,FOLIO='8',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-PQ-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 12:30 2015' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Interpretation</font></u><font size="2" style="font-size:10.0pt;">.&#160; Each and every provision of this letter agreement shall be construed as though both parties participated equally in the drafting of the same, and any rule&nbsp;of construction that a document shall be construed against the drafting party shall not be applicable to this letter agreement.&#160; The words &#147;hereof&#148;, &#147;herein&#148; and &#147;hereunder&#148; and words of like import used in this letter agreement shall refer to this letter agreement as a whole and not to any particular provision of this letter agreement.&#160; The captions herein are included for convenience of reference only and shall be ignored in the construction or interpretation hereof.&#160; Any singular term in this letter agreement shall be deemed to include the plural, and any plural term the singular.&#160; Whenever the words &#147;include&#148;, &#147;includes&#148; or &#147;including&#148; are used in this letter agreement, they shall be deemed to be followed by the words &#147;without limitation&#148;, whether or not they are in fact followed by those words or words of like import.&#160; &#147;Writing&#148;, &#147;written&#148; and comparable terms refer to printing, typing and other means of reproducing words (including electronic media) in a visible form.&#160; References to any statute shall be deemed to refer to such statute as amended from time to time and to any rules&nbsp;or regulations promulgated thereunder.&#160; References to any agreement or contract are to that agreement or contract as amended, modified or supplemented from time to time in accordance with the terms hereof and thereof.&#160; References to any Person include the successors and permitted assigns of that Person.&#160; References from or through any date mean, unless otherwise specified, from and including or through and including, respectively.&#160; References to &#147;law&#148;, &#147;laws&#148; or to a particular statute or law shall be deemed also to include any Applicable Law.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">[signature pages&nbsp;follow]</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9<a name="26867-3-PQ-03_PB_9_080319_9621"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=9,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="12",CHK=694760,FOLIO='9',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-PQ-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 12:30 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Very truly yours,</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Name)</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address)</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Signature Page&nbsp;to Unit Vesting, Equity Retention and Restrictive Covenant Agreement]</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=10,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="12",CHK=597864,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-PQ-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 12:30 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Acknowledged and Agreed:</font></p>    </td>   </tr>
<tr>
<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">VIRTU FINANCIAL,&nbsp;INC.</font></p>    </td>   </tr>
<tr>
<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="46%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:46.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>
<tr>
<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">VIRTU FINANCIAL LLC</font></p>    </td>   </tr>
<tr>
<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="46%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:46.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>   </tr>
<tr>
<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Signature Page&nbsp;to Unit Vesting, Equity Retention and Restrictive Covenant Agreement]</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=11,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="12",CHK=661971,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-PQ-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 12:30 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit&nbsp;A</font></u></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Existing Equity Interests</font></u></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">See attached.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=12,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="12",CHK=168839,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-PQ-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 12:30 2015' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit&nbsp;B</font></u></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Virtu Employee Holdco LLC Agreement</font></u></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">See attached.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=13,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="12",CHK=378997,FOLIO='',FILE="DISK104:[13ZDI3.13ZDI16703]26867-3-PQ-03_ZDI16703.CHC",USER="BFLANNO",CD='Feb 19 12:30 2015' -->

<BR>
<!-- TOCEXISTFLAG -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>13
<FILENAME>a2223212zex-23_1.htm
<DESCRIPTION>EX-23.1
<TEXT>
<HTML>
<HEAD>
</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>

<P style="font-family:arial;"><FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<P ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2><B> Exhibit 23.1  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM  </B></FONT></P>

<P style="font-family:arial;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We consent to the use in this Amendment No.&nbsp;3 to Registration Statement No. 333-194473 on Form S-1 of our report dated
February&nbsp;19, 2015 related to the consolidated financial statements of Virtu Financial LLC and subsidiaries, appearing in the Prospectus, which is part of this Registration Statement.


</FONT>

</P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
also consent to the reference to us under the heading "Experts" in such Prospectus. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>/s/
</FONT><FONT SIZE=2><I>Deloitte &amp; Touche LLP</I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>


New York, NY<BR>
March&nbsp;23, 2015

 </FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=1,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="13",CHK=773372,FOLIO='blank',FILE='DISK108:[13ZDI1.13ZDI16701]KM16701A.;17',USER='JTAYLORA',CD='23-MAR-2015;08:29' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->
<BR>
<!-- TOCEXISTFLAG -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>14
<FILENAME>a2223212zex-23_2.htm
<DESCRIPTION>EX-23.2
<TEXT>
<HTML>
<HEAD>
</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>

<P style="font-family:arial;"><FONT SIZE=2>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:arial;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->




<!-- COMMAND=ADD_DTABLERULES,"border-bottom:double #000000 2.25pt;" -->




<!-- COMMAND=ADD_SCRTABLERULES,"border-bottom:solid #000000 1.0pt;margin-bottom:0pt;" -->





<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


</FONT></P>

<P ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2><B> Exhibit 23.2  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM  </B></FONT></P>

<P style="font-family:arial;">


<FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We consent to the use in this Amendment No.&nbsp;3 to Registration Statement No.&nbsp;333-194473 on Form&nbsp;S-1 of our report
dated February&nbsp;19, 2015 related to the financial statements of Virtu Financial,&nbsp;Inc., appearing in the Prospectus, which is part of this Registration Statement.


</FONT>

</P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
also consent to the reference to us under the heading "Experts" in such Prospectus. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>/s/
</FONT><FONT SIZE=2><I>Deloitte &amp; Touche LLP</I></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>


New York, NY<BR>
March&nbsp;23, 2015

 </FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=1,EFW="2223212",CP="VIRTU FINANCIAL, INC.",DN="14",CHK=454176,FOLIO='blank',FILE='DISK108:[13ZDI1.13ZDI16701]KO16701A.;18',USER='AGAETZ',CD='23-MAR-2015;11:27' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->
<BR>
<!-- TOCEXISTFLAG -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>15
<FILENAME>g586409.jpg
<DESCRIPTION>G586409.JPG
<TEXT>
begin 644 g586409.jpg
M_]C_X``02D9)1@`!`0$`@0"!``#__@!`35),3%]'4D%02$E#4SI;5DE25%5?
M1DE.04Y#24%,7TE.0UU625)455]&24Y!3D-)04Q?-$-?3$]'3RY%4%/_VP!#
M``$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0'_VP!#`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_
MP``1"`!S`+T#`2(``A$!`Q$!_\0`'P`!``(#``(#`0````````````D*!@<(
M!`4"`PL!_\0`1Q```00"`0($`P4%`0P+`0```P$"!`4&!P@`$0D2$R$*%#$5
M(D%18187(W&!&!DG*#@Y0FB1H='A\!HE-D=46'1X>;>XP?_$`!T!``$$`P$!
M```````````````$!08'`0,(`@G_Q``]$0`"`@$#`P($!`,%!@<````!`@,$
M$042(0`&$P<Q%")!4146(S)"87$7)#-#@0@F)U)3<C1$16)TD;+_V@`,`P$`
M`A$#$0`_`+_'3ITZ.CITZ=.CHZ=.G3HZ.G3ITZ.CITZ=.CHZ=:FV-L8.-")4
M5+V'OC#^\_[I!50WHBM,9J]VOE.:OFCQW(J-3L<Z>GZ8SMC;%%C025-009K\
MP_OO^Z054(B?=,9ONU\M[51T>,[NC45#G3TO3&?E0I2G*4YRD,8Q'E,8KW$*
M4I'*YY"$<JN>][E57.5>ZJO3+J6I>'=7KM^J>))!_E@_PJ?^I]S_``?]W[8]
MJVK"`-6JL#,01)(.1$#_``J?^ICW/\'_`'_MV)@FP9V+6!&37&G4]A)<>Q"J
M^>0*294]2QC.7MYSK[+)"JHV2QJ>7RF:QR];PIL6QB@G03CDQ)0VFCG$Y'#*
M-WT<U4^B_5'-<B.8Y%8]K7M5J<`=;%P'/I>(2OEI'JRJ&43O*B-^\^(1RHCI
ML%JJB(1$]Y$=%:V4U.Z*T[6N<BT[4C`1#.Q,)/RN>3$2?K]2A/O]5/(XR.F[
M2=6-8BO98M`Q^1SR823SGZF,DY(Y*GD#!(Z[#Z=>-"FQ;&)'G03CE1)0FFCG
M$[S#(-R>SD7ZHJ>[7-<B.8Y',>UKFJB>3U)@00"""",@CD$'V(/U!ZF(((!!
M!!`((.00>001P01['ITZ=.L]9Z=.G3HZ.G3ITZ.CITZ=.CHZ=.G3HZ.G3ITZ
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M_%NN0SC<M;ZJ\N5CF7F)+27*2?\`,).209)J2T>DM)7J.]=)*%_B>OZGF]3S
M_>[^_=4[+UXW7+>A-^Q\D%6ZZV+:A#?!''K<*S2RDL8.T&-&AA8EELXS_*V2
MUJ#BXSDTIZ=_X5+='4:P9HNICL=%.:-):Z/)CE>"1',GI&`83E:01A/[/&0;
MD5KV.1%14_+LJML$\5J);$+%D;@[L;XWP"T<@R<,/<'V=<.I*GI)0U"KJE5+
ME20O&YQ(K8\L$N,M#.H)Q(,Y#?MD7#H2IX^/3KXH]B]^SVKV3NO9R+V3\U]_
M9.L?S'-,7USC1,ORZ0Y8#BGB4='$.,-OF%N!B.=553G^9(T*+YQOO[Y['1::
M*]K6I(LSPX9=A*JK.[*B(I9W8X5%'NS'G`''L"22%4%B`54DD<4<DTTB10Q(
M9)99#M2-%QEW.#QR```69B$0,[*IV/"W54:1IG7^:V!PXI8S?D*^IC@=-N+>
MW\XDEEQV`A!N(*KCD^;R"4YXX00((/<MO)A1C]E8]D-)EE)69)C=G$N:.YAB
MGUEG!*A8TR*=.["#<G9S514<,HB-88!F$`<8S#(-M;#8>QLBV=DA\ER66!3.
M$V'65D-'`I\>J`O<Z)24D1SW_*U\;S.>YSG$E3Y3S6%@:1-D$(N^.,/*&XT5
M=MJ+<LFXUG<2_4NJ4;O7E4LHRM:3(<>&]Z>62U$:ZTJT5H+@+%>ST[,83$UZ
M9W;%%;%6=2NGG"16&W&2)\_XD@R0(')`V*,Q+M8EB7RS:)ZF5X]4^!MQF/17
MVPUKC[C/!)N/Z]A<E16E)YC0;JR!6)D/DS/ATZ]-CV0TF64E9DF-VD.ZHKF(
M*=66D`S3Q9D4R+Y"#>WW14<CAE$1K#`,P@#C&89!M]SU8BLK*&4AE8!E92"K
M*1D$$<$$<@C@CD=72CI(JNC*Z.JNCHP971@"K*P)#*P(*L"0000<=.G3IUGK
MUTZ=.G1T=.G3IT='3ITZ='1TZ=.G1T=.G3IT='3KAWECRPA:BA2,&PB1&L-F
M6$5$.;^'(AX5#DC[CL+`:JHSW9Q.0E14O7L-KF6=BU(B1HT_57/+GK7<?:^5
MK+6,J%;;KM(3'2)2MCSJW6T"8-'!M+>.3U`3,DE`<AZ''Y#'":Q1V]RSY#Y2
M%:QAU&6U7(*INL\H0#K]GU<>1>;9P`1#%^T!]VNL]IX`R04\R;C4HS_F<SQE
M22+#`YYW38[I6(R0'JX=W#KS0I/1TR16NJOZ[J3OBCQF00$<-.@P7`.Z)"S*
M"Z.8JA[T]1*M>S<[8T"Y&^O1QDVW0Y-=,,9Z].09274H4`>:)3Y*\19HP\\4
MJUX9N;&B/$3#,OMI<4.7&Z<Q'.ES[J^T_E^2T,W+VR)922I9\%R^TI1_M3ZA
M7/</',GD`R!$1`U][>$4,)E?:Z\0SQ",;MK*@R'D=N>AO:::>NMZ2[;655M5
M3XSO)(@V-=/QL$V#+"Y.Q020"*U51?(J.1RW=NS53LO945.R_P"<U47Z*G;V
M5.WO]5147NG?Z=13^)[P!B\KL#?LG6]5&%R&P"K,ZH:`88Y-I8S%1YSX);2%
M1GKW\7^))P.SF/<X4YY<;D&976P25T_](_57MR&[0[;]0.U^T[U"S*E:OW/8
MT#2%O4G<[8?Q>3X+9<JL^U)+[^.S`&:>W+90.\=-5;J,PCLQP-N./.T46[)Q
M_BED.X$CYI&(;)+NS>XKG?W2;G?V5/[4FTU145KD691.147NBHJ+0^Z*OLO=
M%_)>_P!.NZ^*W-7QP.8NP<=U1HOECO*[FD-58_(RC(\BQ7'=?X9#*B1Z^1G&
MP+;%"0*D'E1H8@Y1K#(+5R!AU=?8R'A"D'LJ)*@2I,*;%D0IL*0>),AS`%BS
M(DN*5\>5$EQ9"#/&E1I`R@EQC,8:.<9`E8PC',3OWP\.=%SPIW##MK^NN\XT
M-EL^O%N+5]5:,JYEW71$(*+D6*SI()L>FS.F&9X@3FQ'I:TAK"BD*UQJV97]
MC]S=IZ;3[>U2QV?V1V9<UQ*RS4*MS1M.AJVF0HS(6KU09)C"TIJJQ6.2P41Y
M$C=W$@KSR57/P^V$NT?E12:ZR*KC*RO!&[C`9]I$;LK'*HW(-^;2G'G<7&31
M&4R>97.7DAO_`&QF%+-QI+&LR2#KR+CV3HQI25VBJ2)CH[*JGT,OT77>TLY;
M<D!"8@&8S7)9MQZ95;\0:S\7C1%I.V6'F!O/>VEX,=(D+-Q.H"9+KVC"1SXM
M7G^-UF-#CU4*.YZH_,*.+^S-I)5TVU;16$CY)+$6L>6..<S8./FR2^Q6!D-[
M7`?HG.*>02%K^\Q:81Q*34=\6QE'6DE0R.=`PW-K0Z32W/S&-[%*LTT6W@P;
M>--S&L=/XS,X@X=)FTNSLX@$3<JIZL&XPC`3$(!<*FA5PY-??Y^\)&6D9_IF
MC86`[7HH<GBDZXR]/=:[FUGU'J:77[=T#6Z>JW&CUK3=9[?TX5*4%1E&HV7A
M6BAT6QIL:E8(((HX9)?!%+!9FG4=>;O</XV\`TQ0^BAC"Z3H38%B$J9QJ*2K
MO@M0MS!`PVF,K)'Y&E9NH/O[I/SO]O\`"DVGW[>RK-H^RHO=57WH>WLGT7Z=
MD5>_;MU+IPEU]XHW)*+0[*VOROW#J#25J&/:U<MQL;)L38%4=K2QY&(4DO'R
M1Z.BL!.\\;+\D&H3A5LFDHKH3DD,BZ\-KAR;EUOJ'$R2"=VG=;)`RW:<QK7B
M#:1/F7)0X!'DM3LR?FDZ,0$I&*A(F,0;Z:/RD9%\]U:/&!%`"+%C!B18P`1H
MT6&%D:+%BQA,!&BQ8XFH*/%B@$*/&`-&C!'$((VM8QJ)8WKWWGVMV9-%VEVE
MVKV<FO35O/JVHMVUHL\FCU["*:L%:-Z;0KJ-B,M.SSI**U9H)$B:2S')`T7;
M,<&(XH:_E9068UXCXU."F`4QO8#(#`@+@X.X$=1\2.1=SQP+68E:V629?K.3
M\N"Z%?6A[_*(LORM$?+HMC(:%\^Y.Y$/>Q/3C1[MB>:.&'-#&[ST8]D%)E=)
M69'CEG$N:.YB"G5EG!*AHLN*9.["#>G945%1PRB(UA@&80!QC,,@VUGL8QD^
M1'L#%L(%!CV/U[[S,,ONW%%C^(8\$C1'N;DXFN*_U#.9"J*F(PMKD-N:-3U$
M<\V0WT\YTIXC<?3&QX&-T>,3R\:QN)6SJ^<$)=B39\N2PEAM>2\971@7,QPV
MO?@$`C*>%0#!5QI4G(PGMY_,W;?<$U1?%J4N:4LA%>63)DCE9_U-H`YK`DF1
MN%B<X3/SJLQ[/]0X>V8J]#N.WLTFU,(=.ED#R6*SEPLL@4`M^%PDGSRGY8)3
MMA\A$R)9`Z=8[B66XWG>-4N88?=5^18SD5>"SI;JK.V1!L(4AO<9@D3LYKFN
M1PC@*T<B+(&6-)$&2$HF9%U90(8!E(96`*L"""",@@C@@CD$<$==$1R)*B2Q
M.DD4B+)')&P=)$<!D='4E61E(964D,"""0>G3ITZSU[Z=.G3HZ.G3ITZ.CIT
MZ=.CHZ=1C\\^>=;H"MF:QUE+AVVZK:"B29*(*97ZVKYHO,&VMA.1X9.2R0/]
M:@H3(K!M<.XN!I`2'#M<T\0;E9E?&C6]6#!<>L#9=GYYU-39K)KOF<4PU\8+
M2R),HKT='F90>.]Y<:I)#$C2%C3+.4LB-5DKYE7BTL[*[LK"YN;";;7%M-E6
M=I:V4DTRPLK":9TB9.GS#N>>3+DF>XAS%>KWN7ZHB(C8;W+W":0:A3)%IE'F
MF(($".`0(SQNE92/F&1&#E27_90GJYZHR=O";MG06DCUJ6%3>U#:R#38)T#H
ME4L!Y+LT;!A,N8ZT;!D+6"/`L[.SNK*PN;JPF6UO;39-E:6ME)+,L;*QFF<>
M9.G2SN<:3*E&>XAC$<KGO7O[(C6M\[&LER##<AI\KQ2XGX_DF/3PV=+=5AEC
MSJZ<#NC#!?V<Q['L>0$F.=A8DV(8\*:"1$D'`3T?^_V7M]/]:]^Z_3Z?TZ=N
M_P!?U]O94_X]OP_V^_59AF#!PQ#A@P8$A@P((8'((;/((((//''7(RS2I*MA
M)9%G603+,KLLJRJV\2K("'$@<!PX8,&&X'//4CV.Y#C^\L?LLMQ"NA8_L''X
M)+79NLJP?I0GP0>7Y[9.M87=SWX>0KT-EN(!4\S`)95F14E8A)!(K,;]G?54
M5%3Z]^Z*BIW145/JBI].W?V7V[]<0XSDV089D%/EF*7$_'\EQ^>&SI;JL,H)
MU=.!YD88#_*YCV/8YX)$8XRQ9L0IXDT$B)(.`DI&%P*;:NH,DY/3<!RNJQ[`
M$E-VA@N$TDL%7F.10VA>MAJFW].1%QW$+$IE/L,<ADO]U#161:1EM"+6PZU6
M*QU$EH%5;*J7L(!MC>-?WV4P,(4'S3Q@8]Y(5(+1I:6@ZC^8U>)@D6K5:\MJ
MX0I6O:IUUWV=141J1#+7C_4NP(N)!F>HA+/7CK)^,+X;QS8A;<[-6U\"I9)N
MDJ=L8@KQQ9^>3HL97VVS<!IQ"=)MYF*1&1UW"6.QL`$>35Y`^0MRMU&E5F?U
M[HO=.Z*B]_Q^J*GLO?ZHO=4[>Z=_;JXKS>YSDQN07),DQ>\S_,Y5,VKU]J'7
MN.7<G%\6Q0"F95T;3Q:ZTK<4PB,YY5E&ENL,BRJ86PLI$2VLITR>RIUDV'[`
MR+([V_CZAR/&0W=M86HL>QW`\RCT-(.?*)*2KI8\R#,E`JX2E]&&$\HSQ!8Q
MB.1B-8WO[_9W[IU^[VF=/[AC9=)TH0U^WM;U"S##/J%105DJ"M*ZV'KT2JQU
M+>&A:#%3RL]0@OND:H+ZS&.O)'0A*14[MF0)-?501)*:Y.Z&,,`(5&Y1%MB>
M1Y8W)ZFX><X\CXRPLGQ.[JI6;Z[N(-O9TN-NEL$3'\W=#(L&5"*=WD#CN03&
M1XF7P!(CGC\ES7L6R`<,_FFUMMP<IMWMG6<R^VCNW=V=556%\^Q)+N<JS')Y
MT#'\?J1SK:4K011N=5TE8DV4R!2TL.(%Y8\"O5XL436VQD_[O,]^O?WPG*OZ
M^WV3V^O_`#^6^N-63[&X\;;HMH?N+R/-TJXME7%J;?#<OC'C1;@"0YUACU@.
MG*.KR$,)TB-!GRH<^*T$N9&-%[25D!M&QIO;^@V.Z.[.V=.TJSW9J^G@R1B_
M6J#5;E**4TX7EEE\%7XJ9D^,F3Q_$,D<UC=)$'Z6>*M4>[<JP))9M*CS1).L
M`N25E?PHTC%HXBQD96E\?U$CJY49N,\0.)5;PMTK2:36&UF<UTN39;<MB1%C
M3+O9LAHX^1*9I1LDMKZ!P!XWCT<R=P4M:"0B(:?*>7L;&L;/D9K$QK"!08[C
MU:2\R_+KIQ1T&(XZ`K1GN+<H6/.52&>.%4U,)A;;(;8L6FIXTB;(1!ZQX`[V
MA>(YC@,+K:[,X6S\)H(AQYAF&'9#6W59BE:T<1F';IC2(['S)E9%&Z-K+853
M*M&Y"V(W#+67(:V%85&#\A-KSKFPEZCQRHO<)US@]_(#(QJ_B?9N7Y5F52I:
M^;F>RXS._IY"-RFCX_B_G+58)4%;!KOF;.39W-A\RNY*^L2:YJFJ=S_%-?MW
M[$UT6D:&U->=_)+!(F,0)%O7F+,`KF$4RT3QLK+J-FO0HKKEI+$M6U-+#3JR
MHT-FQ?AP9Z5DCY:ZT]R&U-&S+)&T7P1?S*\7K=V[L!G`8F!8#'L<?U'C\_[0
M@0+%!!R+.\A&-T=<_P!@-BD?'?</"X@,;QP)3U6#4Y75]>^1:2K:VF<[)_S]
M._=?Q[?3\_?\??MW[^[W1>W?LGMV[^ZK^?X_T^G\NO[^O^]4[?R_/M_M_P!L
M<EE>5]SX]@JJH"HB`85$4<*JC@*/KDG)))J?4-0M:G:DMVY`\KA555&R*&)!
MMB@@B'RQ01*`L<:\*!DY8LQ[RX2\VLDXNY(E!?K8Y'I?(I[2Y'C@7.D3<9FG
M5K#9;B(2O:QLQ$1'WE(QXP9#'&A1J*X"`YK0N)9;C>=XU2YAA]U`R'&,BKX]
MI2W58=)$*P@R6^89@O1$<US51PC@,P<B+(&6-*"&0$HF4A^Z?DGZ^Z?153W_
M`)=E[K^OY]^_4A'`GE[GVA-@4VO&5U]GFM=@9!$K96!U`"6=[69!:F'&%D6#
M06KYG61'>5]Y2,<*)>0Q/E.=%LXHYCY=VWW$]-HZ%QF>H[!().6>NS$`+@99
MH6)'`!,9.5RN0+J])_5.;0)JW;>NR2V-$L2I#0LX:6;29IG"I$%4,\E"1V`:
M-07K,=\2E"\?5I+ITZ=6=UV#TZ=.G1T=.G3IT='3ITZ='1UA.Q==8;M?#KS`
ML^HH>18MD,18EE636KY7(BH0$J*<:MD0;""=HY==8Q""F0)8A28Q6$8B]58N
M8?#S,N*^9>5_S>0ZOR&:9F$9LX2*KE\I#MQK)E`-@(.40@HY6N:T42^AA?9U
M;6.985]=;3ZPG8NNL.VOAM[@.>T<3(<7R*&Z'95LM'(BIW0@)460-6G@V,$[
M1RZZQBD%+@3!"DQBL*Q%Z8];T2#5X#[16XU/@GQ_//CEQRT3'G[HWS+GYE>N
MO4/T\T[OG3_\NIK=2-OPW4=O\RWPES:"\E.1\D8#25I&,T(.98IJ3G?_`((J
MI[K^G;O]/Z^_Z)T_K^/;Z_T_7W_JG=?K[]=C<PN'V8\5\S1C_G,AU?D,PJ83
MF[P)W<O9QOV9R10-2/!RB"%KG-5&AAW\,3K.L8QP["!79APCX29'R@R-N19$
MVPQ[2V.ST%D.0B:Z-.RJ=&<UQL2Q,[F]OF.WE9>WHVD!0@?Z`/5N"A#&JQ=*
MO-?_``T0,+0;:R8X4<$REOV^(+\WDSM*D%2<@'C.+L[N*7N/\J#39EUH3&%Z
MSC"1H,$VGFYC%(1D3"T"8FB*LC-O4,X2<(\CY09&W(LB;88[I7'IZ"R'(0HZ
M-.RF='<UYL3Q(SFJBR%149>WK&O!1`)Z(%+<%$&/:`QC$,8PO&*C#,5HZVAQ
M6AK0U%315T9@:Z%7!8HVQA@[.1[7HY[CO,I"RBD,>40QS%(_YXIBF.8/CE+B
M&(TT#'L:QZOCU=+2U@&QH-?!BL\@@`$WNJ_B\I2.>>09Y)$@I3E*5^0=6MHV
MC5](K[$Q)8D`^(L$<N?^1,\K$I_:ON3\S9)X[3[![!TWL?3/##MM:K:1#J>I
M,F'F<`'X>`')BIQ-GQQYW.<RRY<@+7Q\0+@#+UXZYWAHJME+@12GM<\P&H0Z
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MQFU]$P;!HKCR3J*=E>53A!2]S"^02#+:VI1(K1!$U7`J:F.[Y&F@JD6*UY'R
MI4IGT#MY]5D\TRM'1C;#R`8:9AC,41(Q]P[C(0<8W$#J!^FGIG;[UMK>NK)4
M[<J2@6;(!26](A4FE1+#!.,"Q8`*UU("[IBJ#[..O';`N->OH>#84`LN2513
M<IRNR:Q]]E]X@O3-:6AD5Z!`-%>&JJ([_D*>$J1HK7D?*E2N2>>/`ZJY!U4S
M96MHD.HW;40F>H/S"AUVR*Z"/L*ENBN1H8^0QP-0..Y"941$:*GMR+6.C2JJ
M3'IU9\^FTK%+\/>!!5"!$C0!?%M!VO$<?*ZDDAN223NW!F!Z_P!1[2T#4]`_
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MB494;2`2%E!(#H?K@KE2IZXD[W["U?LO5A1G1[=*VY_"=0BC8I>3<`(BBAO'
M=C+*LU;).XJ\1>*1'/@4E)<Y-<U>.X]56%Y?W<^/64U-4Q23;*SL9;_3BPH,
M42*0\@S^Z-:B(QC$>4SA@&0K;-'!3@G2\<*:/GV>QX-WN^\@.9*DL4<RMU]7
M36(IL<QLWE5AK,HU061Y&+[\UZ$K*QXZ<;WV']X*<%:;CA3Q\^SP,*[W?>5W
MIRY#5%+K=?5TUB+(QO&S(BL-9F8J!R/(Q=G3GM=6UCA5#'NGR.]33MSMP4@E
MZ\@-M@&AA8`BL"`=SCZS_8>T7T_4)*]">E/I2F@I!W'W'`KZVZK+0H2`,FD(
MP!6693E6U(C_`$I@E5S8+-&Z=.G4RZOOITZ=.CHZ=.H%=)?$8^'_`+UY':_X
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MQX<F0^IM%S.&:P@H.<'R'^0`1[FD:T'W6J[*=H]SR6$J1Z%J3V9*BWT@6K(9
M6I.XB6RJ`9,+2$('Q@MQT-J^F)$TS7JXB64P-(9!L$JC+1D^VX#W'\NI^.G4
M6G!OQD.!WB$W^587QYV=<R-BX?CLO+[77&>X5?X!F,G%(!H\:=D%##NQ?9N2
M5]?*EQ(UFE%:SYE229"):1(<>;%.6.HOQ7?A<!(\1*SE*CQO(-W]Y*O[>81'
M#=V5<_3NGF:O9?R3NO;HA[0[HL6;-.'0-5>U3$+6JXIS":!;(=J[21LH95F5
M':-L;7"L5)`/6'UG2HXHIGU"H(9RXBD\R%)#&5$@5@2"R%U##W!.",\=6*]A
MZ\PW:N'WF!9]10\CQ7(8CH=G5S4>C7M[H\,F-($X<F#80CM'*K[*&4$V!+$*
M5$.(PVO3VF)XICF#8W2XAB--`Q_&L=KX]734U8!D:%`A1F>48@B8GNKE\Q3%
M>KS2)!"R)!"G*0CH2=5?$.\`]Q:1Y/;^Q&!R!9@G$K&]:95M1EQJJ'7WIJS:
MV</U_BZ8G6-S&0.\DMOAN=:!+,KFPH':6TDA>X4]3B_Q&WA[9;QXV_R;JH'(
M5-;:2V)J;6.9CEZG@@R1^2;F#E!\0?34Z9H0=A6,'B-M]LS"3HCZ]5B(R/*^
M8[L\'LWN-99G/;^H+-#/7T^=S3821V+(@DK5)&V[E>86Z[Q1$_-YT(&6ZTK>
MT,V%NK-0^*FJ,BV@(OB)*4$DCM'Y@OE:O'*)7\>XQJX9L;N3/;TZX4\/_P`0
M[0/B3:CR?=/'4&P(^'8GL.RUE:LV+BH,1N5R2JQ_',EE.BUX+B[8>M6NRFL0
M4Q90WODI*"L=J!1Y-#^(1XS'$#PT-@8!K;D=%W!(R+9&&V6<X\_7&`1<OK6T
ME7?.QV2VQER,EI'Q)RV#7**,T!VOCIZJF8JHQ4L6A:S-J;Z-%IMN358RZOIZ
MPL;2&)/)(&B`W`HGSM]EYZ7-?II5%UK,2U&4,+!<>(JS;0=WMC)QGJ6/KX$&
M,K'C*QI!O:YCV/:CF/8Y%:YKFN16N:YJJUS7(K7-56N14546#CC5\0=P*Y5_
MOX_=?`WZ)..W'38_)_8"Y3JR'2(36FKEJ4R8>/\`IY?/^U<E?]LQ/LNG)\D.
M:B&[SP>FGFV9P:\;?ACX@]]MW'=!Q-SAL-*ZP)MO,5SW7<3%X[\5%-)`>RF*
M#*+A;"V]<3E2"]D5KAJCDD=^Z(IL=K=Q5$MR6M%U"!*`@-UI:[JM862!7\Q(
M^3S%E"9_=D8ZTQ:KILYB6*Y7D,X?Q*LBMY/'Q(%`]]OLWT'UZDMU?I;5VF(F
M0P=8X938A&RG()N37@ZH"C^=M)KW.7N][GO#`A->\-35`<.LJ([R1ZV+&$0C
M7[1ZAEX7>.WP7YW6^VZ#2AMNP;K36F[G>N2U>P,!@XK,M<$QX@QWA<5"+*;9
M;NTJWR8"3('>(@DLH+_F%85[A;,\.WQ@.)GB=W&S:/C9%VU'FZGH\*R#*EV5
M@D7#PK!SV9>0:)M62-D=ZLZ0T^/3_GQ.8!L9B@<TAO55&:)NV-;TV*YY]&N4
MX=+6L;H>LT24UN,!5,HP!&+#-B,XP[$@<YZ\4K.DQ0U:NGO3A@D\B5*]58XH
MOTR7E2**(*BD$L[`*,DECDG)E.Z=5P\X^*2\,?`<VS+`K>)R6F7&#Y=E&%VL
MFITS"E5<JUQ*^L,=LCUDD^<1#2:\\ZMD/@2#18I3Q7"*2.![U$V3';?B:\:=
M,\$L2\1+*';!G\>LTQ;5&7TW[.XD*SSK[+W'.I:W%1R\7+<PA1YL:9>Q`WL=
M+<B5RBE^F67Z3?4W6>U^XJ9HK:T;4*YU*:.M0$M9T^+GEVF.*#(_4=]R[5')
MSULBU73IO/XKE=_A59[&V0'PHIPS2?\`*%(()/L1U(7UJT6E=7!VM(W<+"Z5
MFT9./LQDN7-C)]H.K&.7N[R]_ETLGQO+6EN6B2V+4#%4$F.KALC)%WCWCK\&
M,HX.Y[X@%.?;DG2.M-LU.F<OI_V!@ILZLS"\F8Q$J7/PQ,I<S['GLRZHG1;)
M]P-#072BC`XL4H$Z`T5XIG$+>W##)>?4/,+O6?&O#[#,*[)\MVY0+BEA4&PJ
MX#0V/GI*Z=D,N<:RMY42NQNNJG3[C(;"9#K:RM-8R@1'I[/;>LQ(9+6C7%2#
M4DT[,M1V\>J[0\=505)%LJZF-%'D(<;,YZ\//I-TUQ*]*R80FI5C*(I!"8BR
MI<B9P1&\1+A9E*LGS88<]2+=.JQ$7XLOPPY&9MQDV-<IX-"Z8V+^W\G4F.$Q
M]@%.@%MR4$/8TO8#:IJ>8ZHS$RVRB8K$J5E*D997.3WBH<1.+/$K7?-S)\JO
M]C\>=K9!AV/X'EVFJ,&<&OC9S67]K1SA0)-K0OCP6`QNTCVK9A06519!6KL*
MT$\<D$=9;[2[FHS4J]O0]2KS:C((:,<E9P;,Q&1#'@$&;')A)$@')4`'K,&L
M:792>2"]6E2L-T[+(/TESC<P.#MSP&`*GZ'D=2-].HZN+?B?\:.7?$7:W-;5
M0MD1M,:;-M`.8IF&'QZ#+FKJ+#8.=9:2LH1WMB&:+[#L(_V8]]G&^=FH2*](
MWD]58OZ3XK#PN+RTI*H,7DW")>6516AE6.EZ^/!A/N)L6"&38G9GAG1X<5\M
MAYQF",X,81B,$9S&L?YK=J]R6Y;L-71-1GFTZ40WXXJTCO4E(9A'.H&4?"L=
MIYP#UZDU;385@>6[7C6RNZ!FD4"5<@90D\C)QQ_/JRKTZCH\0SQ0>-/AF8MK
M++^1\?9<FHVQDM[BN+?NUPZ/F$IMGCU**^G/M`GO:-L.&^"8?RIQDDN,9?3]
M-C45Z;WX<<N-4\Y>.V!\G=*"RP.MMBDR@6/CS:B'C>2M=B667>&VOVA3BL;0
M<1%N*"<L16SC>O#4$A?34JB8WOI6I1Z=#JTE*PFF3S&O#>:-A6EG7R9B27]K
M2#PRY4'/Z;?8]*!;K-9>F)HS:2/RO!N'D6,[0'*^^TEU`/MDXZ_.@Y5UW]EG
MXE&SM'ACUE=COB1:$VDT,<+(T0.,;2S'5N?2F#%'&J#`^IS:PCD8(2JJ>KY6
MM5R*GK_#AH)/(/XB7!;*;(;+?*YU\C=SS98I!3C-^[Z]W!L>(4<E'/>8!)E'
M6L"1[U843F->YS'^5^\/BB,&+J#Q::#:L$*^OLS2&B-KJ5B$`LC(->7^0X"7
MM(<-1^M\IKS'VN*+U5"CPJ5B+V:_R/A8\0D[+\6+(=E3XCY!,!T'N_8LF9W8
MC(5UGF4X;AXRO5!>5Q)8<QO8XVC]!7(XKFIZ;'B7JIK(;T[?N3(\C^GJ:67W
M#/Q(@:`XSR0+4C$@YY..>3U3X0?F9=)Q^WN8W.`2HK[5;;@C`)0;68<;OF.,
M#K0/#5%3XD#$47ZIXE^]^Z]E3NO[=[A[_7_7[>WO].L-YW7.I,<^(%W)D._8
MM3.T71>(1AMONB%?44K)Z.9JJMR;`INP(MQC4&'8S<AK#XL&T%-I(D"=)M8S
MRP@0Y!3M"[-.''M\2'BG_P`F.^._X=U_;S</O^7O]/Z>_P":_9RBPW%-B?$F
M9+K_`#O'ZG+<)SGQ/-2X?F&+7T,<^DR3%\ES_6M/?4-O!,BBFUEM5S),"=%(
MBCD1CD$[V=[+HVC3N)7<RB-?2V-G,#*DP1;F6,+L"J2[1^DQ!VMM8@XQUH8,
MVD,J;"S=TD)Y`6CW%L+O`P63.-RC:2N0,'GK<O@$X!+V3XXK=G\><!R8?&/%
M,LY:W)K:#BEW%Q+"]-YKC&R*;6&-9#-+&/#QR7:Q[[#*RCQ^SL!W#WQE&$9/
MLV48.*?$K\,.,?"+E?HK`.+6I:74&(9?QUDYODM+1VF36L>URI=H9A2K<&-E
M-Y?2QG^S($.)Z0)`8J#`UZ@\ZN>NQ/!4N;?1OQ#%UI'5=O<X;J:XW9S7U1;8
M#4W%H/&;;!,!K]QV.%4=O6OF$!:MQ6;AN/2**78MDV%>6O:\,I/F):'VW\8`
MO^'!QF7_`$29'?\`7^_'GGX__P`_#^O3/':MCU9T")+,JT+O:%>1(A+(KV8(
MX-2:!]24-XK%N*9YRLF&5`RE,,7)5O%`W9FHL8U:Q!K<Z.Y12L<K20>04R1O
MCA:,1?+P2P8-D`8D'W[PJXO<<?AIMH[ITIJ*DP'9_([ACP<R;=>6UMID\V;G
MMZ[.]092ZPL8MU>V=9!*M]D][8JRE@U@?5L"C]+Y<<<(:Q6BO\CEXBO;_P`X
M?A^K[>_UK=[]_P`>_M[_`*_S]NKDO-^&:;\*S4"`USR!X#\*[![6,5ZI'JYV
MAI\LG9/=K!1@%*]Z_=&-CGO5&M54ICZ2NZ>)X0OB#4LJTKH]S:<P.`I:ZI/,
M`.RL!0ZC?YY9H<)[TD2!1@QCEDE$-XP,"12.:J>Z+LBQ8MZ+KDMB>:U,?4O3
M5:2:1YY?'%J.A1QAGD9GV1QQJB9)5$0(N%484ZW'%!>TI8TCAC_*M@[4543<
MT%EF("@#<S'+<9).3DGJX/\`"(?Y/+>/_O$S7_Z?TMU$Y\81[\M^)*)[+_9M
MS+LO?Z+^]:1Y?K].SD3W_7]._4M7PBD8XO#KW3)((C`2N8N=I'(]CT:7Y?4>
MEA&4;W-1A$&3[CE8YWE>CF.1KD[=1*_&$?XV_$E?]&W,_?\`+MM60J?R[+^:
M=OP_DQ:&0?734B,'$^J#W^HTT@C/\B"#]NG"Z/\`A]5&/_+5N#_\A<9'\^NH
M.#-CX1][X8W,0_#_``^'6<Y,4\('9E3RKR06.;DJY4J3?:E4.?A=99J=V`VJ
M66S<?CRC$P\3V.=$'(KB!J2J-W"7PKR=MJ^(:O\`H-6"?ZLGE_T3\?9/;\>I
MQ=!>']Q+XW^!SNODOIG528?NKD3X0EY/W#F/[99[>)ETR[X[S\XLSK0Y%D]M
MC=(LK)YLBQ5F.U%4,:/2&)C(0V`2#GX5_P!MJ^(=]?\`$9L.WM[_`/:>6OXH
MG?\`3OW_``[JJ]^E(MU+G;/J=+1L:K9KC5=*B$FLRI-<$D5NNLT:O&[J*L<W
MD6HF<I`$#*&W#K2(IH-6[42>.G%(:%EF6DC)"59"48A@&,K)M,IY!?)!(P>H
M._#;Y.#XG<H,*V3:330\*R/7FTM-['1A'#`;"-Q:HR+"9!IGD5%>"AR2PQ?+
M&M]^Q\>"[LY$5'6*OA&LFCX%-\1[,K%X11\(X_Z5R><^0YS8X!XL?<EM)>9S
M&D>T(_D7O(K1O<C&+V8]41JUG=+<=)6V.*W+;=52PY;7BY`XV9A91Q/;Y78)
MM#.,DUCE,P@?*KC?9-W-PF>JC5'1XC9TAW\%A5;,-X*&RAZCX0^.[FQ#DBEB
M<',6H81F%:`H[C-5W/@M*@RN81&%?;Y)"&)/(YSGJUK4\SFJD^[]J5-1[?[E
M6MDW+-CM?1;JJ!PZZII]JM@>Y9H=97+GDC8GL@S'NWYK574],655\"+JNH5C
MD%B#7L1N.20H+UV.-OODD<MU"1CV!W.T-9\A]^3BR91M=W&I[J[*PHU8:SWK
ML*^KB2YWJM0A1K*AS&L4;D>DN6![V*-7>2VOLS9/[S/A`L`D'G-G6>"Y7KG4
M]E]]SWQ$UWRZ2BI(1O.B*T@,6;0^5O=6^@X+F.5CDZJVZ>VSLG#>)?,K3V+Z
M8?FNN-Q2>-Q]H[?'39A.;I==1["O,CU^U]K3QSXE1CSV^MI]$YV8%BELD#\G
M0D)+0XEF(T+L],A^&.YV:M*CEE:PYQZ6M0O5Q7)]D[*RG2MW%&B/51L1EO37
M[E:%&-52J][/4(Y[\]W5+%B30Y75!'I?J'VPU/8\;E:4M>A`ZR*A+0YNVI#X
MY`KE5BD`\;H3YT6>!$U!8O)ON]N:FT^\,`9HY96!W$#>?'%DLI(!D9<[E($4
MVB^3K,)X0\[N*%Y,5M9O<_&C9N#@,5?2%L#3.Y*=M_'B"0;D^8OM<Y%.DR7.
M*-KQ85%1&D(QJ-ERS*ZLJWX5K4=?"E'CQ<A\2J^K;<8C%&R;`@R]EY!'B26,
M<UL@#+>FK)[1%1S&2H,60UJ&`)[86=J<=GX?Q&XD<FZT97U6[\EY*:WR%_F:
MX,7,])YW2$@,<U%\XEM<(S6K(+SH@S.H9JC57C,B319K4SI_PKFGY\4!#1Z/
MQ++^?9/&-[VQHDPVT*0)S.:BM")UG:0(GJ%5K''E!$U5(4:.W:^M!I-#M5<?
MWWU$HM9W8`^.HU[&DR@+QM^;3HRH/+-E_=NO.FM;5-0KV`-U;MN182N<F">9
M+*Y.<G`G;CV`X`Q[ZOUEPGV#R4\"/7]_QOXT9%N?>\'Q-MC,R.XU=K[]J=D`
MUK$T3%K71[>SKHC[M,-A6Y*(0X)I2U$6WDQI(XS9\IYW]:\I-2;ZT7\,3I?5
M?(K76P=4YOBOB)&;5X-LJ@FXUD53B5P;<-_4$%56+62!U5C+M+2P@%<BB,DD
MKPJH_*B8-Q*\1_=WA\>!3A>7<7\^P/']M91XENT,,R"LR?&J#.9281+TC4Y5
M*(F.6QD=`1\^LQZ0*W42=PE2.-ZI+5J]`\_>7'(3G!\-YJ7D-R6LJ6XV%DOB
M$1J.);8_B=;AE3/Q7$A;>QZG)%IJISH?>.>#803S45"23Q2J3NYB*L5LRZ^V
MLT$L0T#H2^IK_"V'FL'5/B0UL",1.G@%41>78R/NP``NW=AXB3310LM%)-^(
MGMB/S1+&HKB',>'\BMDN6V[@5_=C)R!UE?AY[`-K/X5KQ'LC#-^SY%AL;?N!
MQY"+Y7OD[1H=%:V%&%V*%?/,3*WQD5KE<Q".)Z14:HGU+KO5LJGX_89O$,B4
MQF7[BVWJVO`H'MC"/K#`M0YBDZ/(5OI%.Z1L\8""8]7";#$Y[$1Z*Z>;%-AL
MPWX6?9>+H_REVUXGL3!&L\Y6N<"IQ[76T):_PW-8Y/0UXK7,,A!*A$_AJ3R.
M9#KDVU-FVW![3>F;#2\JKTY@7)/<.R,;WS]B9>*%E>PMD85A-!ENNOV@/%'@
MLN30T&!X[9_9E?-DY-%#&:6:$$%7>I*.UX)ZU_N:S$%Q?[]OQ6"\D<6ZG#IJ
MHA3R$&5A;./''ERN\@;5?IGUB2*6MI4<AR:G;\4D0VN_Z\EH-A]N1&AB``9@
M%^8DGD=6H_B;-COW#X>'A-;;*81R;0`'8)#!(TPGGS#CMAU])\A6.<UWEDSS
M,5455\S7-7W1>TZ'PW'^1OXH?^NWI_\`H#9_51[Q&-F@VCX"7@G639;Y4W$,
MHW?JRT0A4*6+,U97W.#!CO<O96M;5TM:4(W(CAQC`9]Y$1RV"?`8\2'@5Q_\
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MS-'Y4(Z,%7]_3;V=.ED4DA]%2ID<K\&XVEVVX'<)`&,XP!P!CVZ2$#\_+Q_F
MH/\`0Z8K$?ZM\Q_]W/OSUP%Q(Q2AC_$-8E9BA/;-7Q']YR%,LZP>BF=F>X"*
M_P!%\IP/=ZJOE]+R)]$:B>W63;DQ:B)\2@VT?#>LY/%*TE+0R3;!J>N/8^KR
ML?Z+92`5$(B+Z:B]-4[M5BM56JZ=22263\88^1\_V8[<[VSM^+]LY]OY>W35
M'_X*,?0]V#(^_P"FK?\`Z^;^O/OUL3PP\8I(GQ'LFUCPWLG_`-J7GF;UEFSR
M-]214<@6%=Z!)3X_9S2/1&^EY6]^[&M5&JFY?BR<;IKKFCQO/91'R"BXIS!,
M<V7-C^5C=MYJ]J>6+)"Q51Q'KYG-5R]^RJJ(U$=.FR"1_P"TSM)M[[AV9&H;
M<<A0FI``'.0`.,#CI60/REJYP,G723_,GX3)/W)R<_?)S[]6W.&.K->[9\+;
MBGI[9&*5>9:TSSA%I'!\OQ"[8:567N+7>F<<J[*JF.]9DM&GAE<UDL$D,^*=
MHID24"8`,@?Y1/)#`L4U]R4VOK[$:M]9B6+;,O<;HJPMC:VIH5-"NRPXT1UM
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MD8EV9CRS,22>22>I)W.JIVJ550H":>`%```,L`(`&``02"!P0<=6'85?$_Z/
M8VK])?D?[DJ>%Z/JF\WRW]E<H?3];U/7[^G]WU/5]7_.\_F]^JS?PQN-TU3M
M/GVL"(\"R>$DD)O-,G'1XWY-.5S421)*C%543[S$:]/P<G=>G3IUT9W_`"CZ
MCC<V&UNL6&XX)_$8^2,\G^9Z1W@/QGM;C_T^4?Z"LQ`_H#R!]^>M$>"3K3!K
MSC)XS-!<8^"SI[/PZ)19L"=*L)(BGJ(&R[JKD,4LMQ`2:ZVKX-C#DQWB/'F1
M`'$1I!-5.;^$F,4L3PT/&@!&C'".TU=P4CS_`"6-EYY`"\J5<42E68I1C-YG
M,.P3QH<3G"*CQ.5BNG5DVI93JG=2F20K^9?3]MI=B-WQ>@#=@G&["J,^^%'V
M'46BYJ:.3R?PKN09^N/'>XS[XZZ(\/W"<7#X+?CCB95,\L^/Q2%+<^3-*4HZ
MK,9-E7L0Y9+S#2)/.66+TB,5#/5ZJJ]NW/7%K':@7A+>+CC[(YDIS;$\.BU?
M!=/L'C2P7<V>0W2AO?*<8)"10``7T2,:88`M*U_I#\KIT-)(9NYB9')_/?:#
M<NQ^97[."MR?<```^X``''6%`":/@8_W=U@<<<9U@X_ID`X^X'VZZ9S/6^%6
M/PU&F)DVB#(FXWXD^8OHIKY=@DRM^WJ_8%9<LCRVRVR/0L80Q!E1R%>`B@`7
MTT,`)&3<>$#Q^T]O/X?;:FGML81!S77-MD'*6[EX[93[D'DNL3R`V5XS<P+:
MNLH5Y56U%D5-66U7955G#FQ)41BA.T;RL(Z=1#NNQ8C[=U"1)YDDA]3;$D+I
M*ZO$ZO-(KQL&#(ZN2X92"')8'//3[HJJVJ0*RJRR=IP[PP!#Y$0.\$$-D$@Y
MSP2/8GJ@GB&+T5KNG'L3GPG&H9^?P:&5$;+G`,2J-<BB$BML8\D5F)5`Y6I)
M#,'*8[L5AVE1'I?W^(+T/J/2O@O<?M'ZKPFNPG5>O]]:%J\1Q"FDVC8E5%=A
MNSITA[ITB?(M[*?86-C86EM:VMA.M+FUGS+6UF3+"2:2]TZEG?T\X[N]-8A-
M*(FN&=HQ(XC:93659F3.TRJLCJ)"-X5W`.&(,?[95?P3NI]J[UKHJM@;@I\C
M%0WN%)520#C*@XR!U6FS.CKA>!CH/%QCDLH9OBA;VMY=<VPL4'(L:[CMC4>#
M)*7YKYASHHITM`C4WI-<=Y/3]3L]-U;/PC&)'PZO%L)JY[V0/$CV^6)_UA9M
M>%\W#]G`E*A&S&D>A1!$U6D>]C?)YF-:Y7.5TZWS2./PW#N,^HUICAB,L1J:
MECS^XC@GW(XSCK,?/Q@/(_+$/!Y'M4/M_5F/]6/W/6AML8[43O!;X75,J.4L
M"GYZ\O0UH%G3V+&%+UWA=A(8AARFG*TDR7(/V,4GD<5S1^5G9J10I@>*IW1*
MXR>_X6MPGX(OX3_U7ITZDW;TLJPZ@%DD4'7-=)`=ADG5;)).#R2>2?<_7IIU
9,!I:Y8!B--T[!89(_NL/U.?N?_L_?K__V3\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>16
<FILENAME>g526937.jpg
<DESCRIPTION>G526937.JPG
<TEXT>
begin 644 g526937.jpg
M_]C_X``02D9)1@`!`0$!U0'5``#__@!`35),3%]'4D%02$E#4SI;5DE25%5?
M1DE.04Y#24%,7TE.0UU625)455]&24Y!3D-)04Q?-$-?3$]'3RY%4%/_VP!#
M``$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0'_VP!#`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_
MP``1"`&B`JP#`2(``A$!`Q$!_\0`'P`!``$$`@,!``````````````H!"`D+
M`@<$!08#_\0`>A```0(%`P(#`P4%#1`+"`T-`0(#``0%!A$'(3$(01)180D3
M<0H4(H&1%3*AL?`6%Q@9(R<H-S@Y=\'1&B0E)C,U-D)26')ULK6VX31'2%=F
M>)*8M];Q*41&4U9B9X=#5%5D:'1V@H2%EZ*T26-E<X.&B)66IJ?2U/_$`!T!
M`0`"`@,!`0`````````````&!P4(`0,$`@G_Q`!B$0`!`@4"`@4$"PD,!@@#
M"0`!`@,`!`41(08Q$D$'$U%A<10B,H$5(S,U-G.1H;&S\!8D-$)2<G2TP0@8
M)4-$4U15=;+1X45B9(*$\28W8V6#DI.UE*+")T96=H7#Q-/5_]H`#`,!``(1
M`Q$`/P"?Q"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"
M$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A%O.IFI
M?B^<6W;KZ2DI4Q5:HRL*Y^B[(R2TDI)(\34W,I/T05L,D+\;B*ZF:EGQ3-MV
MY,>$I*F:K5&58(P"EV1DG`=CRB9FD;CZ3#"O'[QQ-O@&-OR^'U1'ZE4O2EY=
M7:EUU)]10@_,I0\!S,1>KU?TI247VI>>2?46VS\RUCO2D[F.W-.-1G+;6W1J
MPM3E!=<`8>QE='<<5])>PRY(+4HK?;W7+J)=9R@N-&ZEMQMUM#K2T.M.H2XV
MXVI*VW&UI"D+0M)*5H6DA25))2I)!!(,8^H[<TXU'<MMQJBUEU2[?<60P\0I
M;E(<<5DE(&5+IZU$J>92E2I<E3S(\'O&SU4VI%OAEY@^UX2VX?XOD$J/\WR!
M_$P/0RGII%6+)3*S2B6L):=)]RV`0L_S7)*LELV!\S*+K(1P;<;>;0ZTM#C3
MJ$N-N-J"T.-K2%(6A:24J0M)"DJ22%`@@D&.<27?:)=OM"$(0A"$(0A"$(0A
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MJ[4NNI/J*$'YE*'@.9B+U>K^E*2B^U+SR3ZBVV?F6L=Z4G<P[8[`;#R'D/Y!
M"$(C\1>$(0A".W-.-1W;<<:HU9=6[077`EE]:E+71E+.ZD#"BNGK4<O,I&98
ME3[(\/O&U74MN-O-MO,N(=:=0EQIUM:5MN-K2%(6VM)*5H6DA25))2I)!!(,
M8^H[<TXU'=MQUNC5IUQV@.J\,N\?IKH[BU9*D[>)5/6HDO-`GYJ<O,I\'O6U
M9NFU+JN&7F%$MDA+3A_B^02H_P`WM8_B<_,]"0TBK%DIE9E5V<):=4?<M@$+
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MC<3;Z`!L!@>0B/U*I>E+RZNU+KJ3ZBA!^92AX#F8B]7J_I2DHOM2\\D^HMMG
MY0M8_-3S,``-@,#R$(0B/Q%X0A"$(0A"$(0A"$([<TXU'7;;C=&K+JW*"\Y^
MHS"O$XY1W%G=0&ZE4]:MWFD@F645/L@I+C:KJ6G6WVFWF7$.LNH0ZTZVH+;<
M;6D*0XA:24K0M)"DJ22%`@@D&,?4=N:<ZD.VXXU1:RMQ^@NK"9=X_271W%KW
M4/[95.4I7B=9&52QRZPDH+K9S=-J75\,O,'VO"6W"?<]@$J)_B^P_B<_-RF1
M4FK]5PRLTJ[1PTZ3ELXLA9/\7V*W0;`^9E%UD(X-N-O-H=9<0ZTZA+C;K:TK
M;<0L!2%H6DE*T*204J22%`@@D&.<27?:)=OM"$(0A"$(0A"$(0A"$(0A"$(0
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M3\K;9'R+4.]*>9@``,`8`V`'`'E"$(C_`.W-XB\(0A"$(0A"$(0A"$(0A"$(
M0A"$=N:<:CKMM;=&K+BG+?<40P\0I;M(=6K)4G&5+IZU$J>9`*I=:B\R/![Q
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MV`JW"FL44F;MF;]VXVZAP/\`W/4_@M-+=23[V2="DF4G,J!"TM.J*BVZ]@9R
MHHF67TT]]MX,.%J<4TJZVL"U@!E"CQ)4ZDE-TJ2#A93%YVLLSTO-HI$VS->1
MOJEJB9=96[+GAN``!EM1XDJ?05(NA:$JNAPHZP&VT(0B.Q%X0A"$(0A"$(0A
M"$(0A"$(0A"$(0A"$(0A"$([;TYU'<MMQNC5EQQV@.*"6'C]-RD.+5C*?[95
M.43XGF1DRQR\P/![UI5U3;B'6T.M+0XVXA+C;C:DK0M"TA2%H6DE*T*20I*D
MDI4"""0<Q9=95ES]XS_NVO%+4N66G[HU$IV;!W^;RV1AV<<3]XC!2RD^]>^C
MX$+X71UA:1Z6:B4'2A@*FZ!3"_2;NNN1F#,4ZSZB%);E)5YM#;CE64Q,>^5<
MS\LXG[C!8(1.3#<Y*RV>DJ@F3E@NH/H8EE.(9EG'E$*4M1`X$BQ*FD@W*S9+
M20HJ(0DE$BDJRS3))#M6FF9626\W+2;TPLI4MUQ00&T"Q*F6[\2W39MA"5%:
M@TA1;O7A'CRDW*S\K+3TC,L3DE.2[,U*3<JZA^6FI:8;2]+S$N^TI3;S#S2T
M.M.MJ4AQM25H44J!/D1(@01<&X.01L1VQ+000""""`00;@@Y!!&""-C"$(0C
MF$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A
M"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A
M"$(0A"$(0A"$(0A"$(0A"$(0A"$(0.WY?E^"$(1BNZP.K_Q"J:3:350[^]D+
MRO6F3(^B`5M3MM6]-,G/O,`L5FLR[H+`+E.IRU/F9F&'5_U?%1JNDVD]44DI
M7,4V];RD'0,!(+,W;EMS;:\^\"BMBM5AG`:`<I].=+IF9EG%B`$A(2`$C`2G
M&$@)&`,#C'/A`P`=N3FN]3ZG]TIM-<[434T@^I3+"@?$..#O0@[JBE-?:]MU
MU#H;^?.:J%0:5MR7*RJTG?=+[Z3C+39OQ*'(@#88*1OCR'!3CRQYCC.<[QD`
MZ3>K%-CB5TKU4FA.:>3N9&BURHDS`M$O_033:AXTK+]JOK5X4K45*H:W,@&E
M%8D\?V/7G?G8D>>1COG??L>1#([C'EMR.#D;CCMQG.8A%/J$S39E$U++X5IP
MM!RVZV2"IIU/XR%VSL0;*24J`(J>C5F>H4\W/R#G`XCS76U74S,LJ(+DN^BX
MXVE@"^RD*"7&U)<2E0SR7_81M]2:W1#\]MB>"7F7F%?.$T[YQX5LH6^A2TNR
M#R7$F2G`I0*2EIU9):=>ZQBVGI.ZL18HEM+-5)M4[IY.D2%$K4[_`#Q^9#YP
M5-FG5)2RI3MJ/%?A22E:J$I2EC^A94B3OEOZP3;Y37*(H3MKSQ;<8=9<$Q\P
M^<@+90MY)4'I!X*!DYQ*UI*5(:=65*:=>G[3LO498STB.%*;>5RI-W)1P[VV
M*V%&Y0L`"U[@64E%Y2,](UZ0]E*7Y@185"GE04_3WB#FPRN6<LI3+H'"4@BR
M2AQMKK"$(1UQS"$(0A"$(0A"$(0A"$(0A"$(0A"/M+*LN?O"H>[:\<M2Y5:#
M4:CX<I:!W$O+@CPNSCB?O4;I920\\/#X$.5LJRJA>$_[ML+EJ5++3]T*CX04
MMC`5\VE@H@.SCJ2/`G!0RE0>=R/`VYT?U4=5-.L>GSFBVC$XABI2R'Z5=UTR
M)\7W!!"FYRCT:;\6'[C?4IQ-6JR0XBDA:V)=PU8K73^XJEY.75/SZBF60;-M
M)MULVZ-FFDFUQOQKN`D`DD`$I^WWY*E22ZK5EEN3;)2RRDVF)]\"Z9>72;$@
MV]L<N$H2%$J2$J4CEU4=5-/L20F]&-%9M$M5)=#DC=5V4UUM::$%@HG*-1YM
M)6I^Y'@HBJ55*BJC>,LR[BJKXU4[%&22=R22225*45+45$J*B225*42I:U$E
M2_$HJ*B21X/<?2WR<GZ7B))42223DDDJ422HDG)IN-B!V&?0[]_/G.V/3M`Z
MI5)BJ3'7/60V@<$O+H/M4NU?"$"P!.!QKL%+(%[`)2FD=0:@GM0SIFILAMIL
M%N3DVR?)Y-C%FVDV`*B`DNNE(4XH`V2A*$(OKZ2NK.:TIFI6P=09V:G=-9UY
M#--J+JE3#UAS+SI*G6TX4Z[;#[CBG)^2;*W*6OQ3U/:+*IJ57FKE)N5GY67G
M9&98G).;9:F92;E7FYB6F9=Y`<9F)=]I2VGF7FU)<:=;4I"T*"DD@@Q%I\CC
M!SYGMV]"-@-\C8^1B^OI+ZLYG2:9E;`O^:=FM,IM]8D*D4.3,U8TW,*\:G6T
MH\3KUL/NJ4Y/2+:'':8ZM4]3T%@S<JN4:9U,94MTZHN7EC9$M,K.9<[!ITG^
M(Y(6?<=C[58M3_06O3(%FBUMXF1)#<E/.*N9(DV2Q,+.3*7-FW"?O7"5'R>Q
M8S9PCQY2;E:A*RT](S+$Y)3LNS-RDW+.H?EIJ5F6TO2\Q+O-E3;S#[2TN-.M
MJ4AQ"@I*B"#'D19P((N#<'((V([8OL$$`@@@@$$&X(.001@@C8PA"$(YA"$(
M0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(
M0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(
M0A"$(0A"$(0A"$(0A&*WJ_ZP/']UM)M)ZH"@I?IUYWK3GU`H(6IF<MRVYMA2
M1[P>%<O6:RRM26PMRG4Y?OQ,S+/+J_ZP%!=5TFTFJBVUMK<D+RO6G3`!20%(
MF[<MR9:R?>;EBL5IA8]P0]3:>LO?.9EG%B!A.`,``!(````VVXP`!C;'817>
MI]3^Z4VFN=J)J:0?4IAA0]:77!^:@WNJ*3U]KVW7T*AO9\YJH5!I6WXJY246
MD[[IF'TD6RTT2>-0H```!A(&P"0`/",C;<```$!(`[#'E4[#'D=N#C?T/)WR
M"#G;R@>=\<DD#TV`P..#OZYBN0-P#QC?&._D,GN`<YY^NNXI.&00.<\$YV\]
MR<<;'[!GN*;;$[[]QS\=QOYXR.,G).:[C&<;@`9&PQYY'/;TW],4\1(Y.1GZ
M_B<C^/MCU0BHQC@<$$Y\_P`9QG;\.=HO_P"DWJT%BID]+-4IGY[IY.DR-&KD
M\53"K1^<GW8I]1]Z5^^M-U2RE)\)50BM1`73"I$G8`!OR=@-LG/'X`,G&<?8
M<Q0>IR!Y$8`..V"#G.#CUSF/;3ZA,TV91,RR^%:<+0<MNMGTFW$_C(5\H-E)
M(4`1E:-69ZA3S<_(.\#B/-<;5<LS#)(*V'T7`6TNPN,*2H)6A25I2H9Y+]L`
MV]X:W1%F?MB=#;K3S2Q,_<\3&%LH6\@J#T@\E:#)S@*D^$I;>62IIQ[K&+:^
MD[JQ_,3\TTKU5FC/Z>SY33:)7*@HO_F1#X#*:;4/>A9>M-XJ2A*RK^@&<I0:
M45B2OCOZP3;Q%<HBA.VQ.E#K+K*_?_<\3`"V4N/)4L/2+P4DRD[XU)*5(:<4
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MJZ3FC+\;$NM=5\9I_>3+RDNJ?GU%$L@V;;!`=FW<D,L@D7&#QKN`D`Y%E*3]
M/OR5*DEU:K++<FV2EAE)`F*A,"Y3+RZ202#8]8Y=*4)"B5`)4M%.JCJHD+$D
M)O1?1>:1+U-AE4C=-WTR9"C0BLJ3-T>CS362]<;XR*K5@XK[DA:I9DJJA6NG
M8I223DJ4<J)))/B)4?$5*4K)4I1)4I2BI2B2I2B5$Q3(![^?.^225%62<J))
M))R5%14HE1)-=ML;<['!)..<'G/;L3MMS$"J=4F:K,=<^0E"`42[",-2[5\(
M0,7)L.-9'$L@7LD)2FDJ_J">U#.F:FR&VFP6Y.3;/WO)L8X6FDV2"H@`N.E(
M4XH`D)0E"$4/Q[=QP,[>IV.^!CRS@8KX@3G?D8'U?CV&=^_H##'/!P-]QOVQ
MY#;C;;;/8"GH.",X)X/QX_[<;&,=&"@=N3W.1ML<>0\C\!\`<FN!OR?(C'GV
M\MR1Y#(.#D13)P.>/J/UYQD=ML@[<@14#C!/<X!.V!R?B?+X<\(1?3TE]6<S
MI--RNG]_33\[IK/S:&Y"I.K=>F;#F'UA*G6D'WJG;7<</O)Z0:`<I:E.5"12
MIHS4HYFKDIV4J,I*U"GS4M/2,[+LS4G.R;[<S*3<K,-I=8F):894MI]AYM27
M&GFEJ;<0I*T**2#$6HY&1D]L'<;#/'<'/&.-]XOJZ3.K2:TFF)2P-0)N9G=,
MYIWW5,GBE4S-6+-/NE2G4)`4],6R\XM;LY(-E3E*67)^0:6TN9E5SK3.IC*E
MNG5%R\L;(EYA9N9<[):=4?XCDE1]QP">JRU;F@M>>0=31*T\3(DAN1G7#?R(
MFP3+OJ.?)"<-N$DRQ(2K[WL6,VD(\>5FI6>EI>=DIAB;DYMAJ9E)N6=;?EIJ
M6?;2ZQ,2[[2EM/L/M+0ZR\TM3;C:DK0HI(,>1%G`@BX-P<@C8CMB^P00""""
M+@C((.Q!Y@PA"$(YA"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(
M0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(
M0A"$(0A"$(0A"$(0A"$(0A"$(0BA(')QV^L\#U)[#O&*WJ_ZP<JJND^DU62`
M#,TR];RD'MTG"V)RW+;FFC_5$Y<8K%9EU$LD+I].7[[YS-,_*]>_4W4KNMFZ
M]"-$-1KFT_J<]+.TZX=9=/9JCFX+?GT+(-+L]VKTZL4>;4RZDLW#-34HY+OL
MEZBR3S#RYF?EH1/6+<WM=ND>8G;A>Z@[HU-T>2ZX935&T[(LDL4>7\6&&;_H
M*;2FINSIP@^$SKKT];DTL`RM:2ZM$JGSTVFG74Z[IJAZIT[1:HM?5=76IBH2
M:Y\$#B8IDS+T^:E7'N(EMQDOHFED%,NRXD+6FF];:V+ZGZ!09MI"[EF?G@M0
M*MPY*R3B4E)(]%]Y*N+=IH'SUIDI`H``!0E(&$@$``#@!.3@`9QC88P-XKXD
M[[IP>X/X1OC?DCRR!B(37Z:=U^?WR%S*!\.,6UI\01RD@_F2((4-QR"-QGF!
M]J?U^>+!ZC[GQX=_Z6=/P/AC\R0]/(XSO@Q(OWI^O?Z\TD<`D";K%]@<?P+W
M^/<8I[V+?_G&OE7W7_$[XFS>-(R`H;=_$!N0!W[^0&_D3`+2<84D8!&?$/+T
M[\GZ^\0FOTT[K[V_9(7,<$'/YF=/AO@X.]HC/`SV[<P_33^OS?\`9(7+ZXMG
M3[ZSM:)\6/+&3SVA^]/U]SKFDN7\JK&=A87HNX)]<<>Q;W\XU\JQXXX+X\+=
M]LQ-E*DDG*ADX'(P3MMG/;'X-SYO$G^Z'.22=O0XS\2=O3XPF3[4_K][=1]R
MD8)_L8T^['?/]*)R0=]OXHY?IIW7YG;J0N?L<?F9T].>3@`6CR>Y.W&=X?O3
M]?6!]G-)9_VNL=W+V$':;#G@[9A[%O#^,:^5?:!^1WQ-D\:>"H`''!&3V`[#
MS\^P/$`I/FG&#G)!`QG&?7;?GG;'$0FA[4_K\'/4?<NXP,VWIYL3V']*(!^`
M.W!S@&*?II_7Y_?'W,-\;VSI]M\2+1Y&/CML8#]R?KTW_AS25A87\KK%CD`[
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M5;3Z>F_FC844,2JGU2\JT?=RR&F@E"?7GVY/M5MOV8%W[Y)Q9&DH`R3@8-@C
M'D!N?4[1)'_W.&KG%A;-3TVUQ)!6V9JIJ0APVXDM+%)!4W?T>)*#CT1A*;&F
M-3TIPH<8EIIDK0E3K'"TMIIT@%:6'>L2IQKB)".-ILV%^$`A*-DYXT?W2?\`
ME#^6'C1_=)_Y0_EC6R#VY'M5R<?HP+O[8_I)TF^L'^D$'8\[9QOG&P?IY/M5
M0,_HP;OX!WLG2;&<=OZ00<'D<\C?&T=/[V[6G];:9_\`B:I__DQT?=+(_P`U
M,_\`E;__`+8V3?C1_=)_Y0_EBH4D\*!^!!_%&O8Z>/:8^W,ZK]19#2OI]UUU
M2U,O.<4PN9DZ#I[I/]S+>I[SH:57;OK\Q835#M*WI=2O$_6*_/2<IX4EM@S4
MRIJ7<F8=#V@G61I7;3E?ZT^L>Y.I#4RL22&W+/H5O6;;.D%B!SW;CK-+?I-F
MV_=5]5U"TEI=QU=^C4AALN(I5N'WOS]<"UET;3>AFD^S&HM-NSS@"F:3(3%1
MF*BXA1`#BFE4UMN79M<AV:=80X$J#1<6.",A)U%,]=34O,);!MUKB4)1RP"%
MDJ.?Q01VD9M?MXT?W2?^4/Y8^ULJS9R\9\M-K5+4N66G[H5`)"@WGZ29:7!^
MB[./#9"1E+*3[YT8"$.1L?:0Z*^VVT@D[QUXZ&.JO5?6O1.D*FJQ<NCYL/2R
MM:P::2*UJ?=;M4M:?KF=7;8IDN%/*;DFT:A4J2;'SBD7&TA51$9Y7M[?:[L4
MJ8M]/6=>LA)%B9I[S,K8.C\A.L!:EM32$SC.G3-2E9Y"E.)<?2^U/R[P40XT
M\@%,@TET,U+5LBU5:5J'34Y*$#K9<3%3:FV'?Z/-L+I:7&%!0(*D\:'`DJ8<
M<00Y'VY5I2GO-FI2<^&5)4MKJVVNKFBD\/"ETO)`;XO-6I/$M(!`2%$$;$#J
MHZJ:=8LA-Z+:+STNQ46&7Z;=MUT]\*505*_4YJC4>;02EZXW1[U-8J@<6JCE
M2F)=7W5\2J?BD+GB)45@E1))*LJ*E*)4HJ)*E*4I2BI:B5*45%2BHDF$U^FG
M]?I)4KJ0N=62I2BJVM/UJ*N2M2E6DI2E*)*EE2B5$DJ)),/TT_K\()'4A<PQ
MC/\`2QI\=]N/Z42-L]]\8^,?=3_<Q=(M5F.O>KFD4(2.!AA$W6`U+M8`0VGV
M%%SBZUVNI5L!/"!6=?G:IJ&=,W-NLMM-CJY.3;+G42;%P`TTGJQ=1L.M<MQ.
M*`)X4!"$39/$DG=8P#C<C`'QVP>.P\S`K3O])/)W)'&^W.Q)[8!W\C$)H>U/
MZ_,?NC[E^NV=/MCV('YD?3GC?ZS7]-/Z_<C]DA<N.Y_,SI[L/,YM$XQP#YXQ
MO&._>G:^M[^:1OV>5U@D[7L/87Q/A;QC">Q;W\XUOG*\;?ZN_=CEG,39?$DC
M[](_^<.^-O+'<`;]L9.PJ3N2M/(.?$.#GCG;U^'?:(37Z:?U^;J/4?<QWR/Z
M6=/CG!`VS:.-B?(#G/H_33^OW(_9'W-N-Q^9C3X$#T'YDA@\9)^EQC<[OWI^
MOOZ\TD/^+K'*U_\`0N+7Y\ODC@4MX[.-;]J^[_4W[OL)LGC3QE.P\QY[\G;O
MD]CQ%0H;CQ)VYR0?J^!R>.=^QB$T?:G=?A'[H^YCMG!MG3\9X_MOS(\#&^V3
MP"3%?TT_K[[=1]R]P<VUI]S_`&H`_,CYG8#/D8?O3]?7]_-)?_%5CNL/>7&;
MBYQ?UP]BWN;C0..:^?\`N>J_;C>)L?B3D86G/;Z0.,'&?K/`'PQN(>).Q"D;
MY[C/'(X^(QQQZ1";_33NOW!_9'7+N",?F:T_/B\\?TH\Y.W;?T,7#=.G53[6
MGJGN]-H:.ZO7A7%2[K2:_<\[;-A4VR[/EG5I29RZ+E<LQR3IR0A7C:IS"9RN
M3X24TVES2@?#XJA^YAU=29.8J-4U3HF0D)1LNS$W-U&J2\NRV+74XZY1TI3<
MGA2+W4HA*05'ACCV,=`*E.L)`%R5*4$@6&2HI``SO>VT3RNDOJTFM*9N1L"_
MIQR<TTG9D-R-3>6[,35BS$P2"ZT$^-;UL//%*YV12DJI*E+GJ>CW'SJ57FLE
M)N5GY26GI&9EYR2G9=F;DYR4>;F)6:E9AM+TO,RTPTI33[#[2T.LO-J4VXVI
M*T**5`F'AT^::ZLZ;V<F4UJUYN;7J_JB9=^JURI46WK:MFCK;;(53+/H%$I4
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MCMB^@00""""`00;@@Y!!&""-C"$(0CF$(0A"$(0A"$(0A"$(0A"$(0A"$(0A
M"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A
M"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$8KNL#J^)-5TETGJBD*0J8IM[7C(N
M`8`26IJW+<FVUY\>[DO6JPP4EG"Z?37O?&9F&75_U?A?W4TFTFJH4DA^G7I>
ME-F%!2%)66INV[<FF2`IPA+DO6:PPX0TE3E/I[GOOG,RSBS&-@D>%(&$@;!(
M&P``P!CMVQMSS7>I]3>Z4VFN=J)J:0?4IAE0^1QP'F4)YJBE-?:^MUU#H;V?
M.:J%1:7MR7*2BT\]TOOI.,M-F_$H4&R0D)P$)'AP,>$````#&$XP-N!OY`?F
M\TT^T_+S#;;\O,LO2TU+OM-O2\S+OI4V_+S$NZE;,Q+/-DH>EWD+9>05-N(4
M@D']-O3TR>=N?+([@[=N>:@^>_IC)[#'''D!MGRBO`2"""00001O<&X^0YBD
MHP@=9_L;-.M5U5?4'IF=I.E.HLTXY/S]@SJERNE5T3*RMV952T2TO,OZ?5::
M<*?`)!E^TW'5*#U*I*5*F1&:U5TDU*T1O2I:>ZJV96K&N^DJ(F*36I7W2IE@
M+\+=0I4ZV7:=7*1,8)E*Q1YN=IKZ2?!,^)*T)V$>.#@D8W[<<Y/VC)P3ZQTI
MKMT[Z.]2EF/V+K)9-*NVDEM\4J>=;3+7):TW,)*35+2N-E'W2H%1;4$.^.4<
M5)SBD):J<E/RQ7+JV5Z,_P!T=J'2OD])U6)C4E`1PMMS*W.*MTYL62.IF'5!
M-18;3>TM.K2Z!9+4XVVA+*LG+U%:+(?NX@6`7?VQ`N.9]T`&`%&XP`JWFF`%
MW!R"=\J'^OMQP=^.X,"3C;C!SMC.^0-A]@&>3GTR[]9OLCM9.GK[IWQH^:OK
M;I"P'IN9<IU,2O4BRY-'TB;HMNFH5]W:;+H"O>7-:TLMEIM)>JU'I"?$X<1'
M'_WAYC*3@C@8(5D$9)!!R`00-ZM+ZMT[K*FMU;3M4EZG*+*$KZI13,2KI'$9
M><E7`A^4>`_B7VT$I]L;"VU)6K,MK;=0%MK"TWP1N,WX5"P*3CT2!BQ`M8PS
MA/(')...W.3W&VQR!G.=XH>?389QOCSX'&^=\DG']J0>6<'&=ASV`Y.3GL,\
M$[XW\HISD;*YX['.QYQPD8&PX(!Q$D.2#RWOO;8"^V<9`)QROF/K'I<O\;#/
M*XMFQQ#&Y/?;Z1.3C&QQD#OWYR!V,4[G&01G.Y`R!G`._;&1L-]O2N^<]P,>
M>,9(Y``YWSN,&'A&<Y._'(!SD?#&,'@['':!.`#>UAM?-K>%AR]=[9$<9L.R
MPR+WQ;Y`=K;\^VS`')R<9QVVW^PC<#DYY$4V'/?&<#??'XL8W\\\1R\\[;#<
MGOQP.!R,D>8)SM''@@[C&0!D<@_6-AZ8R2=H`G_&]AFW$+6QVG.VYO<".1GM
M-LG`&<$6V^V_*'AR202#D[G&!C&Y'8@]AC?X0R#YY(S@#(._8G.1V[D'?RBF
M<DC/;?D@C/)Y')BYWIIZ0M=^K"YON#I%9\S4*9)S3$O<M]57Q4NP[1:=4GQO
M5RX7FRRJ;0RHNM4&EHJ%>G0$IEJ>4+]ZGPU.J4^BR+]3J\]*4ZGRR.LF)R<=
M0Q+LI'#;B<=4E(*S9*$`\;CA2E`*E`1P2$@J4I(2`"5*(2$@6!N3@`GPS@9R
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M2*JFB9;G#+.J;F9-L*2N5R.K<?;4$K6T\`5(6A/5X(*B4.H19QTZ=,FA72;I
MM3=)NG[3F@Z<653TMKF)6E,J?K%Q5%(/O*[>-RSI>KMWU^84I:W:K79Z;=9]
MXJ7D&Y&1#4HW=995ESUX5#W;9<EJ5++3]T:B$[-@[B6E@H%+LXZG[U!"DLI/
MO71@(0XLNRJA>,][MOWDM2Y9:34*CX?HMIY^;RP4/"]..C9"-TL@^]>&/`AS
MI#JIZIZ=9%.F]%]%YUN7J3+2I&Z;NI4R"*#XB4SE&H\VR<O7&_\`>U:K(<4:
M0%NRS*_NL5&GZSS4U[O6:U,OOEUU3BW)AU;TY49E6;=8ZI3CBE$>V.J4;`$D
M@`J3+G7I"D2"JI4U!J1:'!+R[=DO3[P'F2TJFX\TVLXX+)0D$E20E2D5ZJ.J
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MN"+,H01PK*@E)=<4D*<6`JR$I;0C7\ZXZ!:L].-]SFG6L5GS]I7'+)5,29<6
MB<HUP4SQ%+5:MBNRA73J_2'QX?#-R#JG)91^;5"7DIU#DLWT[D<@@CG.,[[C
M[,XY\]^#&P'UOT$TFZC+'GM/-8;-IEW6]-(=7)+F$"6K5NU!UOP)K5JUUI'W
M1MVLL'PN-SL@ZAM\MI9J$O/R9<E7(IW6][*[5OI><JU]Z>(JNKNAK2G9IRXY
M"0#MXV)*`J7[F_Z%3D*"Z=+(^B+SHS)HKJ1[RJRM">/N5[U=%?[H*@ZU\GH^
MH>HT]J=?`TVA;A12:LZ>$#V/?=652TPXJP3(3*RXHE*)5^<45)0EIUJ8LA7M
M;V!PWLA9%LH-Q8XPA1XM@DN'`Q4#CR[D\@X[8XVY.?CZ0.#C.-SQP-QD8^&#
MG.V0!#.=P001X@00H%*NX\)P<@@@@@8P1G,,8S@'!(.<#GN2.^!G)X)VSG:-
MBQO?%S;Y[7SV]@!V\8]N+]YSD[;7^;/AMB*[[@XX&-N!ON-S]\>2!C8<DQ3`
M'/EOVP>.-^^/JSC<;54<8([C&1C?<\>7..V!@'C,,Y((VXXYXXP.W;<$_'B.
M!R-KW``.-_-M>W*X[;]V\<"_,8-CX&PM\^.?+UT_NB3G<8)SG@]\Y&>V,8X/
M.8\B6E9F>F9>2DI:8G9Z=F&I63DY1AZ;FYR:>6$,RTG*RZ')B:F7W"&V9>7;
M<?>60AI"UJ`BXCI:Z6M4.K?4Z6TRTOEI!J98D%URY[EKCSDK;UGVVS-2TE,U
MJL/LH>F'U%^9:EJ929%M=1K,ZH2DD@8>?8EL]'7LYM".D&4E:U2I$:AZNELB
M>U9NRG28JTBIUL-OR5DTA*IF4LNED>))<E7YNOSB%+^?UMUESYHU3_2;TSZ7
MZ-FS*3!75=1.-)>E:%*+"%H2L$-/5"9*7&9&75:Z24O33J2%,RKC?$M/1,3;
M4OZ9*EG(:2;*MC*C8I0DVN";J(-PA0N8P[]%OL9+ROW[E:B=5JZGIW9;J):H
M4S2JES3<OJ)<C#ONYAH77/H1,-V%2IF74`Y3V_?W@X%%MUBWU^)T24M.].+#
MTDL^CV#II:=%LFS:"R&:3;]`DTR<BQA(#LR^27)FHU&8^_G*O4IB<JD\[EV=
MG'W#XH^V]3@\D\DY).2=\[DY).#DY'>&XV/&Y(&#Y<[[<<GB/S\U[TFZLZ1)
MWRBO3Q$DTX5R5&E"MFER."E*FY<K47ICA)"IN:6],J"E(#B&N%M.!?FGI@CC
M59`]%M-P@=Y!)*E?ZRB3FPL,17&WESL<;`9R`<DG<=N-SWWX^>V!^+`V_"`?
M,D;14#D^0\QR1CU[_`XA@]M]AY[_`-J!R">_'GCB*^CSQ?3TE=64SI--2E@7
M_./3.F,X^Y\QJ*FW)F:LB<F70I3S805.O6R\ZI:Y^1:;<<ICCBIZ006E34JO
M-;*3<M/2LM.R4PS-R<Y+LS4I-2SJ'Y>9EIAM+TO,,/-J4V\P\TM+C3K:E-N(
M4%(44D&(M&YY\P?+OSGT/!P0#Y=[[.DOJSFM*)R4T_O^<F)W36>F&VJ?4GG'
M7W[#F'EX4XRC#CCMKO.+*YZ1:!72W2JH2*2P9N67.M,ZF\E+=.J"_O8V1+S"
MR?O;DEIPF_M!P$J/N.Q]JMU5N:"UZ9#J:)6G29$E+<E/.*),E?"9=]1O>4O8
M-N$CR;T5$R]BQFSA'CR<Y*5"5EIZ0FI>=DIQAJ:E)R4?:F96:EGT!QB9EIAE
M:V7V'VU)<9>:6IMQ"DK0HI(,>1%G`@BX-P<@C8CMB^P00""""`00;@@Y!!&"
M"-C"$(0CF$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$
M(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0)Q"
M$"0`2=@!DGR`BP[KKU'U0LJPZ?3[)D)FG6O<JU4^Z+\ITUF<IJ9CQHE[?80P
M`_24UI&0JO>,)6C-+E%,3<TEU5D'M!O:#A8KN@V@U;RG^?:)J3J)2WCMD&6G
MK1LVH,.#*P2_*W'<4L5!CPN4JD.E\SDY+]6]"O713*'3);IRZCIF4JVEE6E5
MT*UKKN,F=8MIJ:4&VK5NMZ:6X';/=\7NJ157R7+9=+4I-.IHPEGZ3$*G79*:
M=?HS,VN54\VIH5%"D]2W,7'M"C8J#:A=MUY*D\))2DC*DTOJ#I.TY/5>;T3+
MU1V15,LJDSJ1EQOV/EZF7$I$@XNW%Y.X.)B8G6W$(:<5U25@<;R.@\!(`3A(
M2`D``)"0D>'``X&.`G``X!WPSC._IC&V_.QP.>Q'?TB[SJ?Z7JIHO4E7/:XF
M:YI95WT*IU4"_GDQ;3\XO^=Z/6WT^+WDL[XVT46M*RB?042TVM,^&USEH>^,
M#8@[G@^78`X&=\Y._P`8K"<DYB0F')6:;+;K9R-TJ2?16A6RT*&4J&^0;$$"
MGJG3)VCSKTA/LJ9F&3D'*'$&_`\RNP#C+@%T+3@Y!`4%)#@`<`CN!WX/GZ'[
M>3%1]]]8S^+/IN>.V>Q`AGS/.3\1OV^]W/XCW(SQ\^>?J]>."<;?ZLQY8\$<
MAY_'D#88.P!/?(Q]?(S'$?`=NWEC/ED^?U]MXKGG`['<Y]<GRS@=NX\MH9]?
MAV.W'P^)VW)WQ"$522E25I44K20H*02E2"!LI*A@I4,G[TC!QCB,077[[+;3
M7J`MJZ]2]$;6IMD]0K#3M::EJ*MFC6OJG--*<F)ZCW#24I;I,A=E92I::5=L
MJ)`OU;W#-QB=8FW)Z4R^_8,G8G)[YQGD8SR!SW[QQP""",[$$=L$=]_XL;[F
M)'I75E>T95Y:M:?GWI&;8<;4XA"U^33C*%A:Y2>82I*)J4=MPN,N=O&VI#B4
M.)[67G&%A;:B"+7&>%0O?A4+BZ3S'R$',:Z6J4RI4.I5"BUBGSE+J])GYRE5
M6EU"6<E:A3:G3YEV3GI">E'@AV5G).::=EIEAQ/O&76UI(V!CPP3^`_>GCL#
MMOML-R<\^D2<O:Z^SW<OJGU;JMT4M]3U[4:4<G=:K4I30]_=MO4Z3^EJ'29-
MI!,U=%OR<NEJZI9@&8KM!9;JZ&WJG29PST8O(\/BSD%(4%`A22E63D8R"#XL
MI6DD*!'AP(_4/HZU_2>D73<K6Z:4M3`X9>JTTK2M^F5!*4EV76<%32Q[;*/E
M*!,2ZD+*4.AUIJ2-/-S#:7$`640%).[:\70>W&4D6"DBYL;I#)SGDY[9X'D.
M21MR1G&\,D'C.,C&<@\[^GKMVAG?D[CD`;>@QDY['8'L",#%<'OP<G?&3CS/
M8DG'.1G&\3_`';<`$7WP+VVOCQR<6Y]MAG:Y%B+G.UP-A@;>/+,4SWV(Q@YQ
ML=U8.^Y)V'J><$9KMDGS&1]9SV/)R?X^-J<*/F-^<\;^F?(XW^R*DY(PD_5Y
M8SOC!(\M\8P,;[\#.^,9R-B$FYS?-LGG?EFW`Y&UK@DY`_)R<]V<#O$#OX@=
ML[<JP<[$@_1*3VSRD[I.0(E>^R'ZW+-U5TVHG3+<=/MJRM4=,Z,I%L2E#IM-
MMVBZE6E))!?K-/IDBU*RGYO*4G#EY2[#1F:]+8NIH.*3642D4'`'D".#D#<Y
MP0=PKX'8;[9.8^AM.ZKDL:YZ!>5G5J?MRZK6J\C7K?KU+>,M4*55J<^B8DIV
M3>2<>-MQ("VG`IB986]+3#;LL\XTNNND[H\IW21IE^B33IE9UA?EE'J`XBF3
MJ+;:FT*=;2?;I5]"U,S+9O=MSK&^%YII:>I]E$PT6EDBQ!0JP/`L6`5:X*@0
M;'M!N.$V(V)`XY!&^WU#C&0<CSVY[1E<Z`M0-2;CD*YIY6:,]<>F%$E%MRMQ
M5!Y(1;,R^@J1:C29A*U5F1GV5KF&9!E1<H"$_3*9&=E&&\"7L<M>*=[4*EM6
MO/5>C6;JSIO2I&?URH<NN7EGW*,J:13I>^;`HSSBG9ZDW1-J1*N,-(>E+,KK
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M[IN*;>I%P*F5O+GK$G?G+H6M]+SUMK4"`NB+=33>Z^J+I:FM)9@WW8@<K6DE
M65+OL3+4P*@_:CU0(5+2<[,H"OG=`FBXTFB5M2W0`\S(3SJGE2LS.XRN)76&
M$5>2<6[+L-I:F)#S2NF$)3<H0@`*EG".(NA(((\ZR4E+/U6ZBG7=.:U71WW7
M9:19;EJI05E"IC3KG".);;;2$!Z0F%(4X)P(!4$W<X4MK9E+,^Q(QC;ML#DC
MOG;\.XV`BGI]7&#Z`\#!._?&V3Q`[^>V<]L9)]3R3OWP.\,\>8WV[>7?[2=^
M!VB(1!(#;N0.<`C//XQCR['.(Z/ZC=>K)Z:-'+SUDOYWQ4>UJ<42-(:<0B>N
MNXZBAR5M^T*8%`AR=N&>(E%DI4W*4Y-0J,R/FTD]GO$GL#G?8*(`5D@#)5X4
M@`Y*E*P`,J4<`D0[O:L=:IZF]95:=V-543>B>CE3J-,MZ8DU+$K>MZ^#[G7/
M>RLK]W-R#+C+U!M)8;"44=J=J31)KKGAM+HBZ.IGI'U9+4Y276Z)3^KGJ_-H
MNDMR2%@)E&G+63-U!P>3L9XT-]?-)2M,LM)]<G+F8=L0>J193I&,7P@'\I9P
M+9`"E`'A(C&A?%US%]WG=5ZSE)H%!F[MN&KW%,46U:3)T*VJ0[5IQZ;53:%1
MJ>TU)T^E29=$M)RS#20&V_>J277%K/RV.0>,`C/<<[C'D22!Y'F&.P/T1N2#
M@C.0#VW\AOCU.QIN1DC?;8YY/F3@C./J\A'ZFL--R[33#*0VRRVVTTBQX4-M
M!*4)%R2`E(`R>PWSB1[G!MC;.+6MOFP&"+[6[8H<#;OD_P#FY[YQ]9V^'K'D
MRDK-3\W+2$A+3,[/3LRQ)R4G)LKF9V<G)QY$O*2DG+M!3LS-S<PXW+RTNVE2
MW7W6VD`J6!'X#Z8!X/E@X'D/K)V&"?+R&=;V,?1FK4*_5=55_4SQ61IC57Z=
MIC)3K'B8N;4R7;'SNXDMNI+;]+T^9?06%^%2'KMFY3P*\5"FT&,:XUA3="Z8
MJ>I*FKB;DF2):5XN!R?GW0$2<BR0"0J8>LE:TI4&60[,K26FED?#CJ66U..;
M(&1L5*Y(3VE1Q<7X1=1!2#;,=[.+HZD^D/0:1I]=D6$ZPZB(IUTZL3X/O7).
MH!ATT2QI=[)Q(65(3CDG,I:5[J;N*9K=1`P\SX,@G/)(VR>^>P[]\^FWH8IZ
M9)QGOGZ\GS\\DD^IS%>0,CSP<Y]3CN3VW/.W/'Y/Z@KM2U-6JE7ZN^9BHU2:
M<FIEPWX05V#;+225%N7EVDHEY=H$AIAIMM/FI$1=UQ3KBG%FZE&Y[`-@D=B4
MI`2D<@`.4,DCMML-L_`;@_5OGGF*@XX/?R\_-7PSOC/.-HH",_EMY8SY=CG;
MZMZ[]R""3G<#!SR,_;D#OCF,/'Q%,D$D$#G'![GOSOOO\,^<.XWQG`[$8P-C
M\/78^F(KZ`^>2,$[=@=CC`R/LWBF?JX[YP-N,<'().WU9A"'IOSC&!VR!P1O
MY[]^=MQWX\M^WKOY]L'OMWBI.V`<XYYWW._./+[?01WOH%H%=>O-TBE4A*J=
M;5+>EG+LNIUOQRM'E'2%B5E$K'@GJ].M!?W/IP)2D`SDZ6I-!4[W2\N]-O-R
M\NVIUYU02A"1<DGF>24@7*E$A*4@J40`3'JDI*:J,TS)23*YB9F%AMIIL7*B
M=R3LE"0"I;BB$-H"EK4E*21>;[/C475&=GJEIXNFS%>TPI$H_-IK,TX646/4
M7R7Y>E2,RZE0GI:LNEQ8H#1#U/<6Y565,R2WF7<K"5)4`I)!!SN""-C@[C(V
M((V[QA*ZO^L*T>F6T7.EWI>>9DKMIS3]-O2\Y)QJ<<LYR::4*G+,5')^Z6I=
M1*PJIU-:%HM9"TAL-U=J3DZ9;%T&=?51T,J,KI=JY4YRJ:/5:>=<D:_..S=1
MJFG%4J#I<F)SWBU/S<]:$_-K5,UF2R[,T>8<F*U3TNH?J$HY9M-J\K1S*T6:
MFU3+C8*'YLJ29>5>44\$HE1`6IEKSD%U1(;-DD)0%(8MRD=(^G])U"G:)J53
M<GW&$K8GZT%H53*3/*4A+-*2X4AQR5E_;&GYI2BB3<X&UA+0>1(24X1X5.J,
MA6*?(U:E3LI4J94Y.6J%.J$C,-3<E/2,XRB8E)R3FF%+9F)698<0]+OM+4VZ
MTM*T**5`QYL30$$`@@@BX(R"#L0>8,7B"%`*20I*@"E0((((N"",$$9!&"(0
MA".8YA"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0
MA"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$"<;_E^7I"$(P8>T&]
MH.OQ5S0;0:N*1X2Y2]0]2J+/`*2K[R>M"SI^443XP/'*W'<4L\E3!+](I2_?
M"<G9=[0;V@SGO*[H+H-6RV&U3=&U)U$IC@)*@%2U0LZT)UM9\*TDNRMQW%+D
M%D^\I-&>]^)V=8P9X2``$@)2`A*4@!`2G[U(2.`#M@#;C')B`:DU)[I3J<YV
MHF9E!SV%E@C?>SC@/(H3BYC6/I9Z6?PG2VEIG-UR]7J["Q^:[(2#J2<WXD34
MT@W!!985?C<#'A&`!S@`#``Q@!/.`/P#,<O,@9^B1@@D$$$%)!V((V((W!(.
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MW4M,NBC!J9I,AE9J7JDNBEU-8;<;'#3JDJRE2ZC:TO,&_G2RR`D*)NW<"X`!
M3<^D-7R5<DI?26KID,K9`9TYJ1XW73UGA2W3:DXHA3M.=4`AIY:B98E*%$-!
MMQCH,CGC(SQM]9'&,G`Q@^AX@-]MAP-\9[^@R1OZ[[^EWW5#TNU+12J&YK8$
MW5]+*P^W]SJFISYW-6W-32LLT6LOI&7)9TJ2FB5A7B1.ME,I..)GT(<G;0=\
MYQCL,@_9]$#?X8\HC\Y)S$A,.2LTV6W6SD;I4D^BM"MEH4,I4,'(P00/14Z9
M.T>=>D)]E3,PR;$'*'$'*'F5V"7&7!YR%IP<@@*"D@=A]FWU9SZGL=ML_##O
M]'[1N<;C?R_!R.\-^?(['GG?^4\<]@28;['R^`XX^/I\"!Q'ECP0.#GUWR#Z
M'//;/`V./J$5XW.#OZ=]R1L=CP#VWVS%-_0;G;`VSCX[;#!XWP3CD2<[8\L;
M'/(&W?CG`Y&V(0@4A60KP$$%*DJ"2DI.Q!2L%*@4Y"DJ2I)3E*P02#%`]J][
M/?\`.(N6>ZA]':$VQHI>-6:3=MMTJ7\,MI7>-4<4,RTLV/#*V+=,U^J4ET%$
MO0*[,.4!7NY.;HPB6`>1DY^(W\M\Y[Y)'&W;,>@NFUK<OBVJ]9UWT2G7':UT
M4F>H=PT&K,)F:;6*/46E,3TA.L')++S9^BXWX'I=Y#4S+NM3#++J+$Z,^D2J
M=&^I&*Q)<<Q3W^"6K5+X[-5&0XPI20">%$W+DEV2?.6G;H42P\^VYZ9695+N
M!0NI"L.(OA2>T=BD[I/BDW2I0.NT.1G`)Y^(V\O-'`)[>>,13N#ODXWW!^^R
M>.1D#\.,G$7_`/M!^B&X.C/5@25.$_6='+[>GZCI;=4T2[,-R\NI+M0LJX9A
M("/S3VNA]A"WU>`5ZCJE*Y+H"U5"7E;`L@)WP-^^V.V3GG.1C`XW$?J1I^OT
MO4U'I]=HLRB<IM2ET/RSR;A7"3PN-.HRIE^7=2ME]A=E-/(6VH<2"#)$*2I"
M%H/$E8!0H`Y3@'GBQ!"ACA4""+C-/,C)&=_I=NXS@[=L#`Y(XA@8RK!^B<YQ
MN1D#`.-MA@\#'(Q%<D9R/[8]\$$#D#SS@9&=M^#%!S\#ZG!XQX<D$@[;@`9.
M^8S.U^VPSS(L._!N?';!,<Y`/;V\S<#`L<':V.S!BI`.`,YYQCTXW/<XYV'V
M&*9'&YX[`XSL-]L#)`2,G.#L3L6?B<C)YW)[#XD`'&-\[@;P&YV';&-\[9(R
M,#'&W]T1O#86(N`/"YOX#GM;.;V)V9V/=<_/?EZK9&#SQW5T]]0^L72SJI0=
M9M"KZKFGVH-NM5"2EZU0YUZ37/T2LRQD:_;=60TI(G:%7Z>I<G4I-S*DX8GY
M)V5JLC3YV6E!]-W459_4OIS*7[;!^85-EY-.O*UIB;3-52U;C]W[YZ4F7%*+
MDW3ZB"Y/T.KK2/NI(J4I[PU"7GF68B?.<>+)`SC&,DY^W.!D\=NXCOKIRZA;
MVZ;-1I"_+1<,[)K2BGW;:TQ,.,TJ[[>6YXYBE3Q0'`Q-,K)FZ-5$MK?I51")
MAL.2[LY+S%)=-'1-+](]'$U3PTQJJDM+53)A2NK;GV2$K<I<VK"0V\H7E'UD
M>33!N5)8=F`8]J6C&MR3:$.*$S)]:N3"G#U1+W5EUHI)"$!\MHLX0"E:$J)X
M"L1+R(&.-MCC&>V-TCGL".",YC*WT*]=DO8,O+:!:_3#5=T<K8<H]$N"O`3[
M-C-SP#)HM<$Y[U$U8$RI2D$O>\7;"W2I'BHGB:I^&#2C5.S=:;!M_4>PZE]T
M;<N&54XV'0EN?ID^P0U4Z)6)9*E&3J](FO%*STOXBGQ!N886[*3,L\OL3D8'
M;;(SCC'<[C!WR?I#S$?G(A=1T_47V76792=DWG96>DYEM2%)6TOJWY6:96`J
MZ5I4A:%6*5@$$*2#%9T"OU?2%81/T]:F)F74MB;E7DDL33/%PS$E.L$@.,N<
M)2I)LIM82XTI#J$+3G+ZH^EN9TFF%7W8A<KFE%;=$RR_+$SJ[05/J0Y*24[-
MM*=$W;\T'FT42ME9^BMJ1GUJ=,O.3MF`SP20!V)(R.XP-_CCC?,=O="O78QI
M]+R^@6O<PBMZ-5QI5"H5<JZ!.HL5F?3\U51*PEQ*S-V%.>]4RL.!QVV%.*<1
MXZ,IQ%/K[3&V;*Z"-*KLZFIB<%2T1EF6/N)3&)]N;K9NZN!2+4L6GNJ<+U4E
M+HJ"FI>B5AE<RJ1IZ9R8JR_=2"9R;R"Z"NMN2[VFY9V9=G9EB572&4]9,R\[
M-.)::;92,KEWG5`-J%@W?/"@*#-T/2M,U+33J;2C92P%(16J"#QS5#FG,<2$
M@`NTU]04IA]("4)N+(2AUJ5P$^U]ZUSH9I@-`-/JFIC5C6.A3:*Y4:?.>ZG;
M#TRFG%R-1G@IDE^7K=[^[G:!12"TN7I+==JJ%%SYB3$M`X"`$@82E(V`2!@)
M`'`"<`9V&,9QSVCK3K!?&OFI]XZNZBU$U.[+UJSE3GUH)$E395`3*TF@TE@D
M_-J);U,:E:/29;<MR4HTIQ3CRWW'.KR3RK8\[@_5C&3QCMN1Z8C]+.BCH]E>
MCC2<I2$AIVK35IVNSK=U>4U)Q".-M"\*,I)HM*RJ2$`H;5,%M+TP]Q?,LR)=
MI+:2+Y*U#/$X;7(M8V'HIOL!Q8*E79!&_/H!QY#C^3DCG=G<'/H2<<[D<Y`S
MQG[=H;D;`\YXSOYYQD;'RP=^`8```$\`$Y"22><GP@*R<\@;D[)!.,V7?!\;
M6P0!@X-N78/D-H[[8QSP!OO;&V,<A<`9-X[[Z9.GJ\NJ'6FS=&[)0MF<N*=+
M]<KBFE/25I6A3E-OW+==1(!26*1($F59409^JO4^FL^)Z=0(G9:8Z;6=H_I]
M:&F%@TMFBV?8]"D:!0I!M"4N?-9-I(<GIYQ`S,U6JS2GZI5YQPJ=G*E-S,PX
MI1<R,<WLI^B_]#'HJB_KWHZY+6S62GR%5N9B<`$Y9UF!P3]J6.EL@?-9Q;:V
M[ANE"?IKK$U*4U\J306(RJ'ZNP(^EV'?([?EG>/S=_=!=)AUOJ<T6ES''IO3
M3SLO+K;5=JI5,>U3E2NDE+K*"DRL@NZ@64NS#:@F=4D8&H3/6N=4@@MM'<;+
M7:RE7SA.4I&WI*!\\P\]QC<<\YS\2!\?K.\-CZG&V,XY`P/QX``'J-A4'D#'
M&_.3VV^L]SOGMO`X]1MN.^/%G/&!\-L'C(QG7V,?%,$9X\L#/.<#MCX#G&XQ
MS%<Y[@[@XX`\]B<'[>2?C#(YSOL>`-\G.V"">-^>_;$/+`V.<;D9W&?/&1]$
M=SWA"*;C/`QGOW.<9QL3N0,<=\`0[YSN-SV]=CP?L^`/,.#N/J\OXB#\<GS&
M=^]]`M!+KUXNP4BD!=-MNENRSMVW2XV%2U&DW593+2B5CP3U=G6TN"G4Y/T4
MX^>3JFI-K+O=+R[TV\W+R[:G7G5!*$)&23S[`E(NI2C9*4@J40D$CU24E-5&
M:8DI)E<Q-3"PVTT@7*E&Y))-@E"4@J6M1"$(2I:U!*2170/0*ZM>;K%(I/O:
M5;=-4T[=5UNRRWI2CRJ\*3*RJ5@-3U=GD$_<^G>\2$H\4[.%N4:)=[OZP.L&
MT.F>T'NE_I?<E9*ZY.4=IU[7O3G6IAZS7YA'NJBPS4&\_=+4RH^$N52IO!;=
MKLN(2A`J@DY>EUZP>L"TNF:TG>E_I><;IUVR+*Y.\KTI[B)MRSESK854&)6I
ME2_NEJ34P4N5*IJ2MBV&W4I;\%41*RE-P/...O..O/+6ZZ\XMYUQQQ;KKKKR
MU.NNO.K*W'7775K<==<4MQUQ2W'"I2E*,G=>8H+*Y&1<0[4W4\$_/HN1+@VX
MI.441@@W#KH`5Q#-EI2EGUZHU1*Z+E)G36FIE$QJ*80J7U#J!@W33TFP=I%(
M=P4NI4"F;FTA*VUCA21,)2F1JXZZ^XX\ZZX\\\ZXZ\^^XX^\\\ZM3CKSSSBU
MNO//.*4XZ\ZM3CKBE..*4M14>`*MB,@Y!&#C&-^<9!V\OX\,?RG&PW/X3M_*
M-XIZ]LDDG`XVQV^HD_&(WOROX[_3F_\`RR8HHDDDDW)R2=R>TQE%Z"^OF?T(
MG)'2G5>>G:IHW/S3;-&JCBC,SFETW-3!]Y,,).7IFR9AUY4Q5:6A2W:$X'*G
M1VC+JGY%V27(STE4Y*4J5-FY:?I\_+,3LC/23[4U)SLG--(?E9N4FF%+9F9:
M98<;>8?96MIYI:'$*4E0,0;QMMOMW&<XV[X]!L-QV.VV43H+Z^)[0:<I^E.J
ML\_/Z+3TRZ*955MOSE1TSG9M?O%/RJ&RMZ:LN9F%K>JM*;;=>HKKJZK2$?-_
MGTB[-M.:D\EZN0GUDRY(1+S"S[A>P2VX3_$Y\U1/M.`?:K=7L+T3]+!I)E],
MZFF5*I:BEFEU-Y5S3"2$HE)M:LFGDFS3RB?(<(5]YD&4DK0CQ)"?D:K(R53I
MLW+5"G5&4EYZ0GI)]N:DYV2FVD/RLW*3+*EM3$M,L+0\P^TM3;K2TK0HI4#'
MEQ9(((N#<'((V([8VR!"@%)(*2`000001<$$8((R",$0A"$(YA"$(0A"$(0A
M"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A
M"$(0A"$(0A"$(0A"$"<;_E^7I"$(P7>T(]H,7/NWH-H+7D^[(FJ3J-J-1YI0
M6%I<7+3]FVC/RZ@$J^BN6N.X95Q00EQRD4=X/_/9QGE[0?V@R@JMZ#Z#5Y;:
MFW'J7J+J11II*<#PEN=M"SJC+.*4'02J6N*X95:2P4O4>E.^_,[-L8-,@#;8
M#9(QL`.R0.$XW&_F>(@&I=2>Z4ZG.=J)F90<]A994#ZG%C<72@@74=8^EGI9
M_"M+:6F<@KEZQ5V%;6\UV0D'4G>]T3<T@X\YAA5^L6`P`!@)`V`&P`&<`<82
M.$CN.W,,#?/&_//(_!G)SOCG.\#MY;9.V0,>H`/K]8V[B`/Q/?.W\7''?![1
M7^=^_MY\O7O\_88UC@=OM!SYXP"=N-N<X'VPR<'?)WWV'KD_Q>>QX,/+D;CO
MG@XW._/<9YV\XJ,]@,;X[8\OM^!.3Z;O4,&_CMB_,=P[;PBGPP,^7EY\_ED#
M;F&1N"`1N,*!.000000<@C(Q@A0RDY!Q%=NQYWV`QSN<^?U_48XGRWV'J2<D
M`D[;[#OY<8`@,D#O^W?_`(9-H1EXZ%>NBF42FR_3CU&S,M6]+ZTR:%;-V7*X
M)R5M:7FT!AFU+J<G`Y[ZSWUE#5*JK[GBMAU2)>:<311+OTGL+JAZ8*GHQ4S=
M-L!^MZ65N:\=+J2/%-NVR]-$.2]%K,P@J2[*NA?AHM:40U/-);E9MP3_`(%S
MF$8\;C.=B,9!!V(4-PH8V((((R#L<'+QT+]=-.I%-E^G#J/F6*YI?6Y9JVK3
MN>OA$VQ;$O-DRK=KW;,3*_$]:+H<;8I56>4IVUUI:EIES[D?-YFDR&5FI:J2
M[=,JB^K<;'#3JDK*I=6`F7F#CCEE&P!4;MW&0+*1=&D-7R5<DI?2.KI@,N,@
M,Z;U(\;KD%FR6Z94G"07*<X0$,NK),L2$**6DMK8Z#P3@'`!SGTW/V>G`WQW
M,.V>X'.V.V,>N/LW/(Q%WO5'TOU+16J&Z+82_5M+*S,MBF5`K7-S%M3,T/$S
M1:U,95[V6=/T:-65K*)Y"FY.:7\_2AR=M!/D<COMV\]C]AWY'>(_.2<Q(3#D
MK--EMULY&Z5)/HN(5LI"QE*AOL0""!WU.F3M'G7J?/LEF89.1NAQ!OP/,KL`
MXRX!Q-K&"+@@*"DCEQWX.,YR!]6,DXR-]NW:*';X9/&1N,X/'J<?#':&W;`X
MQSD'ZL\[\Y/;;LR!VW\CQ^/(Q\?+;/'ECP0&=]R?,_BSG`QVP3C;?(@,X^/V
MG?!\\['T\^T5R/(#&.<]_0>G?OC?<Q38\D#\.><<9`[#';\:$=+=0.@VG_4K
MI1=6D6I%/^=T&Y)/$I46&6'*Q:U>EDJ51KKMU]])3*5NBS2O?RY\2&9V65,T
MJ=]Y(3\RVJ#]U,].5^]*^L-RZ1:A2_CG:0[\\M^X9>7=9I%YVI.NO?<6[*(7
M"K,E4F6U-S4I[QQ^D567GZ/.8F)-15/JX.2<;G;OMYC.WUG)/.1DQ9#UW=%U
MI=9NDCMM3*I&AZGVHF=JFE5[S#8!H]:>9!F+?K;R$EYVS;H4TQ*UJ7^F:=,H
MDZ_)M_.Z>MN9OOH-Z7'NCVL>Q57><7I&L/I$ZGSEFD3B^!M%5ET`*5U?"E#=
M19;'$[+I0\A+CTLVT[D)&;ZA75.'VE9WS=I1L.,``W20`%CF`%`$IX50="1M
M_;$<CR[C.X^KZMR.*\;\G.^V/7"L'OC&#D<`8.1'T][67=6G-W7)8E[T.=MN
M[K2K$[0+CH52;+4Y3:K3WRS,R[H.$N-J*0]*33*ERT[)NL3LJMR6F&G%?,'`
MSL"3V&>W<?5DG)&1@C<D'])676IAEI]AQMYAYM#K3K2TK;=:="5H=0M!*5-K
M2H*0I!(6DI-RFU\]N!S!MV&X)2;W&+6R+7!&;Q08P#MZ=QC!(P.,9VXV/)[0
MR>_;8';&QVW&.1G.Y[;=X$$#^UW&^PQC../@,CZ\'&3%2?%Y\X'!&PW.2!C.
MV1V&^QX^\D7O?<YY;8VQOW;`@B`O?D?$WML<8Y[]FQQM%!DCN3R<X!'Q(QD>
M9/'G%2.^0<;G;MV'!/H!G(X`P,FG/?!/H#WX`&^^3GMY`]V.Q&_;G<$[#[/,
M;$'SP.;9&_@`.T=IMOV;&UR3OQ;;Z`!SM?<VQ;EL;$WYWC=&W5G<'2_?I>F?
MGM7TONE^4EK]M=MTJ4VA"TM,770F"H-HN2BL%SPI`0BLTTO4J;^F9%Z4E&6W
M<M`O&@4>ZK5K$C7[;N"GRU5HU:IKP?DJE3YM'B9F)=:<$$D*;=9<"7Y690]*
MS#;4PPXVF%=G!.Q)[#)/?<[$<<D[YV\M\D_0'UHOZ#W$SIGJ+5''-&+GJ"RS
M./E3HTYN&?=2#7997TG46S4'<)N>09!;EEJ%PRS8?9GT3FL/3YT-C54J[K#3
M,J/NED6.*I2+*?/KLDPVFRVT)'ME5E&T\+..*<ET^3><\U*H,*U7IWV0;-1D
MF_OUI%WFP,S;24I">&U^*8;2+(YNH'5BZT-I,D4GOMC?<D)QL0K)7A*4@;J)
M(``)5MDQ'O\`:7>T)U)ZH7K-Z<9"_I^O=-W3I6JVK3VEB8+]/K5W5%ANGUJY
MC,I(=J5&HS:9R@Z?R\RMZ6H=(G*W,TKW4O7UH1>Q[1[JL;TGTV9TLL:JH.H.
MJ]$<==JE,G&UJMK3J=_4)FL,3,NM:DSEW,J>I5OS3*P/N=]U*JPXL(E%JCE`
M`;#`&!X0!L$I!`VP<!('A`QL.-HB_P"YFZ-%L(<Z0:RRMM;P>DM.RK@(NR%]
M7.55:#Z14M*Y22"DX2B:?X"%RKJ>C0M.FI1N8JBG7V$SK*Y-MEMQQL/2W7-J
M=6^A)"76U.M)#3;@4F[:W.&Y:6`\N=AVY^S<$<G&`=]XJ"1Y<=\;')^]&<8.
MWUC.#M`D9\7?'(Y&2>PY^T9VR#F*;Y[<G8>0SO@@@'L`1QOZ'<;U`>(R+`7)
M`%O\;C%HGF^X\01G%KFP_P`+FXQ89)QSN.<D;'MON-NPY!/`X,9??9%]&0Z@
MM83K-?5,3,Z2:(U>G3Z9*=E4O4^]M2DI%1M^W%I<(;?IUMI^:77<:/`ZASP4
M.E/)":JLIQH:-:1WKKOJ?9NDFGE/^Z%VWQ66:134.$B4DFBE;]1K=4>'T9:C
M4.FLS56JLTO"&I*3=2/U5;25SMNG[0^R^G'2"R-';#EDHH5G4EN5?J"VD-3U
MR5V9`F;@NFJJ2D*<J5PU5<Q/O>//S:77*TYKP2TE+MHUU_=$=)OW&Z:.G:3,
M=7J/4S#K06TH!ZFT97M4W.W!*FWIOSY*26GA(5Y3,-+0[*`'QSTSU#7"DV==
M!".U*-E+&]KVX4D'TKJ!!01'<Q/B4I2B5*4?$I2B,J4I65*5L!E1)*O4D[\A
MWQON/4>?(\\<#.,\;'$4^`)'KGCS].,=M@/4$1C;Z]R-O,>1[>N,;1^<L1Z*
M8)W^W@8_+S/)]8J?3'KOC?GSX'IY9[`P'<8SOL=_7L/,#\L0[=CL<<[<<\<;
MXY[^L(0/Q]/Q_>^FWY9BO]R!O@G?<[<$8]!V&<C?([T[8Y&Q&#DC/;MN>^Q\
M\1WOH'H'=6O-UBD4<+I5N4Q3+]U74\PMV3I$HM22F4E`0&YVO3K?B^YU.]X`
MD9G)Q34FT2[W2\N]-/-R\NVIUYU02A"1<DGMY!(&5*40E*05*(`)CU24E-5&
M:9DI)E<Q,S"PVTT@94H[DDD)2A(!4M:RE"$`K6I*02.6@6@5U:\W6FDTI+U,
MMBFN,KNRZUL!V5HLHO\`5$2DJE92W.5V>0E2:?3P3X03/3ONY-!+G=_6#UA6
MATT6B[TO]+SDK)77)2TS3+UO.GNB8?LIU]"45!J7J2$I14]2JF5*<J=44IU%
MK@EOW:*LF2EJ93K"ZP+/Z:+0?Z7^EY<M(77*2ZY"\[VIKS,RY9SDPV&ZG*M5
M%(6:GJ54VTE54JCA/YED+0E*!5/FDM2\$#KKCSKC[[KKSSSKKS[S[JWGGGGG
M%NO/OO.J4Z\\\ZM3CS[RW'7G5J<<6MQQ2S*'76:`PN1D5I>J;R>"?GT&XEQC
MBE)15KBQPZZ+*X@0"%@)9]FJ-42FBY29TUIJ9;F=13"%,:@U"P;IIZ3ARD4A
MS!2ZDCAFYM-E(7=*2F92E,CQ6XMQ;CCJUNN.N..NN.N+<==<>6IUUYUUQ2G'
M777%..NO.*6Z\XM;CBUK4I:N)W/IMP2,_7WY)VXQN=]A.PR,Y`V'\1XYQW]?
MB)]>#W!/;T`[9)^/EB(T,^-]\]W9<[]V_,\J)WWBNQ_%W'Y''!YQWQ%-]\GM
M\<?5Y#ZLG.>T`>-\@[#;?C.YSN<<^L.3R>-NX\@<?'?RX.0(#<_..W(QL<W[
MOFA#/.<^78#.WEDCZ^(J-CL?L.",>1]-O+!SC&PA]O/Y=^/AD><4XV[`9![C
MXC'GV[XWSO#M^U]MN_\`SVYHRA]!/7O/Z$3U/TIU5J$U4M&:E.-L4JK3#KTU
M-:5S4PM7C?E&TH==F;*F7G/>U6DM#QT1Q3M7I2/<&?D7Y)=/J$C5I"3JE+G)
M6HTVHRK$[(5"1F&9N2G9.::2]+3<I-2ZW&)F6F&5H=8?9<6TZVM*T**2#$'$
M9!&"01C/J<#'AVP,;\8X^N,HG01U[3^@\](:4ZL5&;J&B\\\&*-5'$KG)S3"
M>FG@LS$NE(7,OV5,NK6JJ4IKQJH3BU5:E-"6^Z$D]-M-ZC\FZN0GW+RYLF7?
M6<R][`-N$[L7PE5R6L`CJ_<]A.B?I8-),OIG4TP32E%+-,J;RKFF$D!$K-K4
M;FG$FS+RKF1-D+/D?"962M"/$D)^2JDE*5*FS<K4*?4)5B=D)^2?:FI.=DYI
MI+\K-RDTPI;,S*S+*T/2\PRM;3S2TN-J4E0,>7%D@@BX-P<@C8CMC;,$*`4D
M@I(!!!!!!%P01@@C((P1"$(0CF$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A
M"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"!('/Y9V'X8P7>T
M']H,'16M!M!:\/`?GM'U)U$I$PL'8JEIZS[/J+"@/&?U:7N&XI1Q7NO"Y2*0
M\73/3;+V@WM"`Y]WM!=!JVH)!>I.HFI-'G0`<%;%2LZSYV6))7LN4N*XY9]/
MN</TBDN%XSLZQ@UP-L```8!'T?"D<#&,8`QCMYQ`-2:D]TI].<[43,R@^I3+
M*@?$..`Y/F(_&4-8^EGI9_"=+:6FL^?+U>KL+VW0[(2#J>>Z)J:0;9++*K\:
MQR&$@`)"4I`"4C`2E(&P`&R4C@`;#X10CN1N#MZ]AOGCOC;?MYO7GMC`R=]N
M=]N3V[P[\_@W[$\$#?SQR<>D5]W]GC]OH[HUCAV`//&<'.<<@_#O^+&(KO\`
MCP.._K]I(`],YBFX[=SYG&3G/`^M(Y\]C#&?COC<G&?AY@'N,<".?VW'R6]?
MC^W:$#V[[C'KQN3]8`(&,XR<'$-]\>6,]\Y/QX[C;T':*\<=SY8YV^O89V[;
M^L#SVSV\_4=O3N/P;MO\_5R^U]NV$4]>"!N?(?5]>,#!W![B*[[C?;@[9SZX
MR,8(QD9[X@!QMMSYX/E_$,<`<[[<3@\X[<@9`[\]B=MP.8;X^2^>S:P\?E[=
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M0RLU+U27;I=4<#;C8X:=43E4NHV`EY@WNN760D`DDMWW2`"BY](:ODJY)2VD
M=73(96R`QIO43INN060$MTVI.'+E.<4$H:=6;RQX4J6&PVMCH3)SC;&1G`\.
M_EGD=\9^)]&3G<XQOQD[9Y]=AG/.Q.PB[[JBZ7JGHK43=%LE^KZ6UN;2FF3P
M4Y-3-M/S6%R]&K<Q],.2KOB]W1:TIQ0GT!$K-J3/>[<G;0=\GG?).1Z]_P"4
M8P<Q'YR3F)"8<E9ILMNMG(W2I)]%Q"ME(6,I4-]B`00/14Z9.T>=>D)]DLS#
M)R#E#B#E#S2QAQIQ/G(6-Q<*"5I4D#QC?)WR.^3M\1\=\_A9^&Y'88SW&_EG
MG@?7#G?OZ@8W^OC/?&"3OB&#CZO/;X';`\QOC&.3SY8\$,[;#<=SDD8P?@!G
M8<[<X[W#]/'3O=&O5RB7E0_2++I3[7YJ+K+.6Y5!\*_N32/>)+,[7YMLCW3/
MTF9!E8GI_"3+R\TZ>.GBYM>[F5+2I=H]G4=]DW3=):*DRK:Q[P4FD)<26IRN
MS30!:9)]S3F5IGIT*1[B6FNQNLSK.MG0^VG^EKI:=:HT_1VG*->]\49YIS\S
MOO$$52AT.I)4Z[/7K..+6+DN12_>T-]3LM*.KKGC52)!3*8SU)JE4*FZ>VJS
M30P]4'DY#+-R"&[@AUVX``*0H$*6B34^GTVG4Y>J-4+6Q0V%%,G)H(3.5Z<3
M<IDI)!4E75<22)B8NE"$!0"TA+KK.#7Y1)TF=->MDS:-3Z4;6EW>HK06UG[7
MO^J6N])_<?4>TZ0XXZQ9%6<;EUO79JI:;ZI^?I]Q?/$N-LOSEDS[E1F'Z8S;
MD)9QMQE:V74.-.MK4TZTZA;;K:VU*0XTXTL(<:=:<"FUM.)2MMQ*VW$)<2I(
MFU^)62?&KQY\87XE%7B)*BLK)*BHJRM3A)45J*U*4LE1P<>TEZ,!(N5CJ1TK
MI($B\XN?U;MFG,#PR4PZI(<U"IDHRCPB2FG%I%X2S*`F4FE"XDI$N_55,;9=
M`?32$3K6A]2N-2\E,N(;TO-&R&Y)U7`ENAO+-AY.\H7I[JK%$RI4L;M/2R&(
MO(Z[57:S,^R,O)R")QQ"::U*MI98E4-H0TQ(J(2GK+H0DI?6`MQ\K20$.--M
M86`<@;^F3ML1W[XSQ@`=SS`XQOG.Q[<8[D''EOO@#;DP.3QN?I9'QQW'J!A6
M>.P'-1D8[_\`G`\;\;[#/!/'(QG(C=+LMSS>XYVM;;&+;8Y7&#,/I.;7\+=F
M"!G!.]HH-]QDYSC8^1._;)&XW(SCT('C&>",G.XQ_:_`#G`P<XBN1WQ@G('?
MGG`WQD#8G;Z.^!F*$GUSC)V)QOP=\G`_N<XQGS)"Y/?@Y_W3:]OH`L=[WC@$
MD_)O_N_LW`&"=\B![D`#;;ON1C!QN#G)!/8#C$5.1MDD8`WW!_!@#8\\Y\B8
M9)V`&,$C(.^,^1)&Y(&^^-MB<TS@>F!D[9_`#Z[G<8!,+7%CV6Y`[I'/8W!P
M>>`38VY%_';!WY6)QO@GQVCS9V>GZ@MEVH3TY/NR\G*4^6<G9I^;<EZ?3F1+
MR,BPM]:RU)24NA#$G+-E+$JPE+3#2$)"8\,[`'&`=]L=\YVR#O\`'\0`')V.
M,[8Y/;OL=S@<9[$;YQ0`$$CT'<GR`))Q@$=\X\R8^4("$I2E(2E-@$I`"0+C
M"0G`%K6L-[]@CBVW=8;8SPVMD"W9BV+VO'+&0-R.V-N>Z<G<@C@9'`!/EQ.!
MG*@D8.5%7A``!*BHYV2`"2HD)&"3L,14#;?!X)R,;#..#L>#G\&"2+YN@KIA
M5U$:N-3EQRA<TPTZ<I]?O4N-$L5V;4^7*)9:'`4CQUUZ7>F*KX5%3-"DIPE&
M9MC.%U'J"FZ5H=3U!5GNII]+EES+Q'IN*'`EEAE)X0Y,3+RVV)=!L''G$)N.
M(D>::FF)&5?FWU%+$N@N+(L%&W`$I2#8%:U$(0#8*6I()S>)'_LF/99:E=.G
M3);G7-JE9KLO</4#1`;4EYAAY-9TQTBJ$U+O6Y.UVG/,I=I4UJV6I6X4SZ?$
M)2W1;U*J"I.:JLS*N91,`;'.<G/P`['.-N_?MVW[<Z$^NN4TYE)70+7EQFKZ
M,59I5&H-;K*$STO83$X!+IH-6EWFW4S.GK_C+80H+_,KXQ[I!H@6W3N\NJ+I
M;F-*'U7[8976])JVZB8EWI5:IU=H&>*79.3G)M"GDS=O37O6TT6NEU2<+9D9
MY:GE2LY._E[KRKSNNJK4-:J=6\N;6D3D@I?6+I#3:`W+2[%@GBD6FDI2EP(!
M*^L?<NMQXHY<EI#45&1J73CCSS<LTRS7J4^I+D]1YE+827K(2GKJ<^4J<;F$
M("4^>5!/`^W+68?'.,>?I@<#X_B/>*_8,[\=LC??A/??'<<8BG)P3V'.``=O
M/L/09_"8<D@[\#/&`#V'\7GVBN8C7V^WA#8>>-QY@_`]L[#8<=X$<8SOC8CC
M&PSYX.1QVXXA]O)R"=QL>^W._;MC?OWQH'H%=>O5U?<FDERE6U35M+NF[799
M3LG2)9?TT2DHA7@:GJ]/(S]SZ=[Q*4I"IR<4W*()=[I>6?FWFY>7;4Z\ZH)0
MA-KDGF22`$@94I1"4I!4HA()'JDI*:J,TS)23"YB:F%AMIIL7*E'<DFR4(2+
MJ6XLI0V@*6M24I)'+0+0*Z]>+J32J2ARFVS2W9==UW8XSXI2C2CJBL2DFAP)
M;GZ[.MI4*?3TD^`'YY.EN3;)<[MZO^L*T>F>T'.EWI>>8E+KI[+U,O:])-QN
M9<LY<TT4U)B6J3?A^Z6IE24HJJE34"BUDJ;#835D2TI2Z=8/5_:'3/:+W2_T
MO+E9*Z9:5>I]ZWO3'VIEZS'YEL-U%AB?;#GW3U+J02556I/$BUFG$!M*:J).
M6IN"%QUUYUQY]UQ]YYQQUYY]QQ]]Y]U:GGGGWW5*=>>>=6MUYYY2W7G5*><6
MMQ:E&3NNLT%AR1D7$NU-U);GY]%R&`;<4G)K%B"D@=:Y@\0Y+"4L^O5&J)71
M<K,Z:TU,HF-13+9E]0Z@EU73()-NMI%(<%BEQ)'#-S:;+;6"E)3,`)D>+BW'
M7%NO.+>==<<<===<<===<=)6ZZ\ZXI3CKSSBE.O.N+4ZZXM;KBU+4I1X#/(2
M`"2<D[C/?T&.1F.6_G]HS^+'D?K/P$4P<DCOSDG??\&WU=M^T;OZ[XS?MOV@
M=^;Y$45OO%>-O@,>7Y#<[DQ3??@YXQM]>?AZGMC&(?'`R<YXW^TDGS\QWAQQ
MMC\6_)/D<XQZ<`QQ_E]N7^/?"&^V/4<C[<GOMQOP<Y/#![8QC;MSG@CC[#P/
M.*`#`SC<8/`'U?6.QYWQOF*C&.!L-L]P=ASY\>O/>.>W%[;W\1WWWQRQWWA`
M[@C!SCUYX\L'?O\`7Z@03N>-CL2,;'??&,<XY]=L17ZS^0['D^?.8IY;#.,[
M[$G'X?7RY/:'=ZQW$@9Y=G@!V[P@=LDYQMO\3V&Y^.><`8Q`$@[`C?(QMVS]
M6^-]MR=LY,5/EC.>V._F3Y?A\HIQGX;'!/<[9[]MLY&_:'JSZ\[=_C^SN1E$
MZ!>O6<T'GI'2?56>F)_1JISH12ZS,.3,U.Z83TV<*?EVP'G9BR9E]27*K2V@
M%T%Q;U7I:%L*GI!Z233:E3ZS3Y&K4F>E*G2ZG*2\_3JC(3#4Y(S\C-M)?E9R
M3FV%N,3,K,LK0\P^RM;;K:TK0HI(,0<@?"<C`Q@@[@C!(!Y_^]D<Y,90^@KK
MWGM!IZ3TLU7GY^IZ-5!YMBC5):E3<WI?/3,P2Y,2S9R\_94PX\IZK4QI2G*(
ML+JE)96RJ=D79MIS4GDQ1(3Z[RQLF7F%8Z@X`;<)_B;GS5?Q)P?:LM["=$_2
MP:29?3.II@FE$AJF5-Y5S3";!N4FEDYIQ.&GE7,D2$+/D=C*R5X1XDA4)&JR
M,I4Z9.2M1IU0EF)V1GY&8:FY*=DYEM+TM-RDTPMQB9EIAE:'6'V5K:=;4E:%
M%)!CRXLD$$7!N#D$;$=L;9@A0"DD*2H`I4""""+@@C!!&01@B$(0A',(0A"$
M(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$
M(0A"$(P8>T&]H,5*KN@N@U;6@H<G*+J3J'3'4=DKE:C9]GS[3A4'4K4[*7'<
M4MCW"D.4JC/EXSDXQP]H-[0@.?=W070:N`ME,U2-1-2*1-+"PH+4Q4+0LV?E
MEI^D`AR5N*XY9Q24!;M)H[A?$Y.L8-\`XV``V`!P`!P4@?5ZCS\X!J34EN.G
MT]SM1,S*#ZE,LJ&#S#C@/(H3S,:Q]+/2S;RG2^EIK/GL5>L2Z]MTN2$@ZD[[
MHFII!QEEA5^-8``)``P$@)2`/"$I````QA(`&P``P!W,5^O&//C_`%^G?MD;
MQ09[[\#;@;9SOG?/KY$P[CMWY_`1Z[_#&T5__P`^S>W;_AWY$:QP/&.!@[@G
MCX[]M_L`R,PXW)Q\<9^W@=L@#M]<!]]OG<>6P^OC;C8?AR8'C@[G)\]O+GT`
M&Q\L8S#L'VR!V_3X&$,X^W![GR&>^^W8^6YBOX^Q(_BV[<\?Q13OC?;[,8QW
M.^_IZ_&O<\^?)R?AOZ';O\.1^??MO>V_T[7[;PAO\,YY[<XX&#M_VQ3OQW/I
MON,XV!SC)P0<'C!.0QCCOG'./+8;C/(QQGR@/,^?GY]]^,`[[#N<8Q#U;["V
M][>OL(WY=L('USP,D9[>H`^P#;)[;AD'T)(S\>/3?`XY\QVAL?,GC&2,9&<'
M';SY\M]A%3WVSY`XQG?\OR,-K=^^W<1@_MP>7;"&W?X_ZS\.^>/JS%,YW'D?
M0'&XR?MSV!V/K7&.-O\`M^';.`/P'$<<]AOMW(]/O@=_//!Y&.#`?/VDBWKQ
M^V$<@?+)_C^&3VP?Q[Q0\G;D%.#N%#?.4[@C&1@\@D$;P&<GX@_9Y8P?+S&!
MON2`SMW&>?,?9N>/L!SQB'/'.VU[\CVY(/S]F+(R\="W712Z%2Y?IRZC9J5J
M^EE7E!;UIW17D?.V+99FU%AJUKJ?=4M3UHO>\0Q2:JZDNVRZ&Y>;>%'^;S%(
M["ZH.EVJ:*5%=S6N)BL:5U>8;33:D7/G4U;DS.*RQ1JRZG=Z7=4?!1JT0IN<
M:+<K.."H!#D[A%Y'.=B""!X2"""%#@@C8C)YXP<1EWZ%^NBFT:G2O3CU'3$O
M7-+ZZTJ@6S=ERNF;8M>7FT)88M2ZG)PN!ZSW3X9>E55U8<MAQ34O,+%&#,S2
M9#*S4O5)=NEU-P-N-CAIU1()4PHVM+S!W7+*-@"3[5;<)`4FZ-(ZODZ[)2VD
M=6S`96RD,Z;U(\;KD'#9**;4UG+E.=(2AIU1!EK!"U);#;C'0OX/4GOC<$8.
MYY.?AG(,7#]/'3O<^O5S?-Y;W](LRD3#0NFZBVE2)1)\+GW)I2706YRO3C2L
MLM87+R#2Q/3N4&7EYJZ.O^SYK$SJI(RUK5UI&CU7#M8>KCK[$S6K?DDO,J-N
M2[!6O[KSDTU,?T"K`0J4$FVZ[5,S,LV*EU!UG=9MLZ(VQ,=+72XY+TF:I<FN
ME7G?E#G`XNVG7%*%3H5#J+1+D]>L\2I5R7*IYQ5&6^[*2Q76RZNC_,M0?(EO
M35<26)25<ZM#*2"Y4'@`I#3!!'M*@05O8`22D%)"U-RLZ?E],MS58UIQ2E,I
M[Q9EY-I8,S7YP)#C,I(6(*I9U-EO35T)0UQ#B;*'G&.76=UFVOHE:S_2UTN/
M2U+G*7+S5!OJ]*.H.JMHK"F:G0Z)5$K)G;VG7"[^:6X5>^715.N2\J[]W"7*
M1@U*B25$E2E$J)45%2E*5E:E$E2EK6HE:EJ\2U*)6LE2B352E**E+*BI2BLJ
M6M2E%2E$E2U*)4M2B2I94HJ4H^)14I14:`CG/]KG.VP&<D[_`,6!OYF/!4:B
M_47@XX$MLM@-R\NWAF792`$M(2,#S0.)5@5$;`)2E-*:KU74=6U'RV=X&):7
M1Y/3*8Q=,G3)--@B7ET6`N4I07GN$+>6D$A+:&FVZCZ_,_$[^O'H<?$Q\9J#
M>ECZ?V?7+LU'K=&M^S:?*.M5F?KY2NGNL33:I=5-,H6WG*J_4D.*E&:/*R\U
M,U'WI8;EW`M46Y]4/6;I;TR4QV2J<PW=NI4U+>]H^G%&G6T5`>]2KW%0NB=2
MB8;MBC!0"E+F4+JU002*739E/O)AB.1KWU'ZJ=1MTJN342N*>DY5UTV]:5-6
M_+6I:LLX`/<46EK><`?6@!,W5YQ<Q59]PJ5,300I+"+FZ+.@W46O7)>JSQ>H
M.F.-*S4G&^&<J"4J22BD,.`<05Z(J#J?)&U7+0FW6URX^J%I>;JQ1,/%4I(7
M!ZY0L\\+C$LA0R#MUZQU:3?A#JDJ1'R^L\_I;4=3[QG]%:97Z-IE-U9R9M>E
MW*6$U*2EG$(,TRVTPZ^J5I8G#,*HLG-S#\_)TM4K*3[RYAHQU?\`'D'&,9.,
M$#`WR<`YSOW&^T<L$`;]\XW\)&">=N1L<_B&8IMQCT)P,=]]^#C<$$Y/8C>/
MT<D942,G*R;;TQ,IE9=B62_-O*F)MX,-MMAV9?793S[H3QOND7<<)4K>+@:3
MU:$(2I2PA"4!;BBMQ80$IXG%J%UK5:ZUV)4HW)YQ0\#;Z\<^8^KC_5M`D@G8
M;#!X[_7N2`0#D$$;\G-<\;>6=MQL>0>^V<?`J'DV`V`&1@]SM@#&Y';G`P!M
MF/4#D#E86S<[Y/([=HV[+D1V#88P+6S?F!>_9OXC>VT-R,'[W&V/AG!X[;]L
M\@G:*$X/))QSC&._/&<XXSG)/K#<#8G.,\G;SP#DCD<9'QBN>Y&.<Y'&0",[
MY).^^3CS&T?(OB^W=BWHY\2;8]:>1@+;WP;DV%LXV&]SZ[WOS%Z`#.QSC&QS
MW`QWY)R-O+<D`F*\DC!VW\L#?(P3V.^/B,GF*#;&>^00?($9'J,8SR#G;/)`
M@8R.X/QY^T[<=@.V3'T;V\`-LYNDY';?/??/>-^WLMMG(]6XQX[<C7`V/.P^
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MO$@WL4K&YFS9SV[^AQS]6V,$<;XWX.5SH5Z[9?3R5E]!-?)E-9T;K+)H=`KM
M5:1/-V*Q/AQAVCUOQA3DY84V'O=Y<2\[;*EJ6DFA^)NG0O>ECVH5<MA%+L7J
M,3/W5;[91)R6J,FA<Y=M)9)2ELW;3VQFZI)@$ARJR26KA:82E3TM6E(VSCVM
M==LWO0*;=5GU^DW-;=88$Q3*W0YYFH4Z<:4,J*'V5$)=1GPORKZ6YJ6<RW,L
M-.!2!^=^K-"ZRZ+*LE-7DRF6=6MN5JDN%/TBJ,@W4V';)"7%)%UR<REF:;PY
MU83P.FNI"9U'T?UAFI2AX""IHJ\YVG5*641ULI-(!2%M.``K8=X'FU)2\WP+
M0VZ,]75+TLS6D<RN^;&2NKZ3U9UA<NZT\J>F;2>G@E<O)STP"LS5"FEK":-6
MO>.@)6W(5!PO?-IJ>LQ.2-P!C\.-L?5G&3SL.8[>Z$^NYC3J7E=!->7FZUHY
M6DNT>AU^L),^FQFZAEA=&K:)DO)G-/YKWJFU)4VI5LEU:T!VBJ6W3KS;OZ`J
MC4-3:)^=Y6I<:17,':K-5EV9EYZ<M"1'NY@TV13[W-P,U!A]";6G4%UM*`I-
M7=]S+-3,_%IJD(J24SU#:*DNN)1-4\$=9(O.$`%.0#**))2NR4M"_%9"5):M
MM%-DM82C==T:PH]<\TQ5M/<2#-42>F"`DH)X$N4MY94IF9`2TTA*BHMH0\U*
MVEZ!:!77KS=2J31P:;;E+7+/79=+[9<EJ/*.K\0E)1&`F=KT^TEP4ZGY\*0E
M4Y.J:E&\N=X=8'6#:73+:3W2[TO.-TZ[*>VN2O.]9%UN;79CLVD+J,K+U!P+
M^Z>H]42M#E2J2TNLVRTXEM*!5/FLM2^/6!U@6CTT6>KI?Z7GI:4NN2E)BFWM
M>U/=;F7[.=?;#=0EV*@VE(J>I53]X7JC5BI;=K@I0$"JIEY.EX(''%NN+=<6
MXZ\XXXXZZ\MQUUUUU:G'7G7G"MQYYYPJ<=><6MQUQ:G'%J6M15VNNLT%E<C(
MN(>J;J2B?GT9$N#;BE)16"+&P=>P>('`6`EG"ZHU1*Z+E9G3>FIEN8U%,-J8
MU#J&75=-/2?=*12'1E+J".&;FTD*0M/"GAF`$R)QQQY;CSKCCCKKCCSCKJU.
MNNNNK4XZZZZXI2W777%+=>==6IQUU:G%K4XHD\#N003MSVVR>=NV_P`,')$"
M,CUWQOCSVR/3.,_7WAC&<<D_R>?)[C/!/E$<'CDD_/;<Y]6-[F]Q:**WWAD[
MX'<C'J0#DX./KSM]>U,XQVYSQL`=N0//8<@'&,\5XP.,XQZ=SG)_!Z;'R$[=
M]NP!_P!1./0B..SL)]=L9R;?YW[(0[C`^/EV'PW'&^0,_"!SY`C/\7//GVVV
MV[[.><CMS@'?M@\[;]QW@!@#?CZ\\[#^/`W[8[-OMX'<'?EBUO&$-MCYYQWY
MR=NX)SZ[#',,9^&V,C'GL1MQVV]=XKP!VXY_UGGZ^VPBFX/'IGC.3C.<GT_\
M[([9W?:_K&W?^R$//&=SN?7OCX8&^/KSDBO&WEMP<?C^'?S.>8;#X>9/F>^3
MG<\''PB@.3V^H[[;@;9'GP>.1#/J&?H_RQF$,G\&VX)^)^S'D">_9\.,[@Y\
MQDYSMSMY[G?F!WR,'@@'T/UX]>QQVAP<D_7VR-CWP-MN.?/&(#Y>[?[8)[QW
M0AOOO@`8\_/<'G(X.>^_>*Y//!V.2=ACX=P=_LW':F?CN,X/IC.Y/D>//.2.
MS/'?.3W/&?B!S@X[[`0[-L=G=8GO_9O:$90^@CKVF]!9R2TIU6GIB=T7GIIQ
M-*JRFW9N>TSGYMWWCDPPVUXWYFRII]Q;U4I;+;S]%?<75*2V9=4](NR2Z?4)
M&K2,E5*9.2U0IU1E)>?D)^2?;F9.=DIQE$Q*3<I,LJ6U,2TRPXV\P^TM3;K2
MTK0HI(,0<@>#P3COWY&-LY!X`Q@Y/,91.@GKWG]")^GZ4ZK3TU4M&JE.H9I5
M8?<>F)O2V9FG3[R8ET8=<F;)?><+U5I322]17%/5:E(6Q\\ISLVTWJ,RQ13Y
M]=Y<V1+OJ-RP;6#;AS=C\E=_:N?M1NUL+T4=+!I)EM,ZFF"JE$I9IE3=42JF
M$GA1*3:S<FGG"67CF1-D+)DR#*2581XE/GY&JR,G4Z9.2M0IU0EF)V0GY&89
MFY*=DYEM+TM-2DU+K<8F9:896AUE]EQ;3K:DK0HI(,>7%D@@BX-P<@C8CMC;
M($*`4DA25`%*@0001<$$8((R",$0A"$(YA"$(0A"$(0A"$(0A"$(0A"$(0A"
M$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A'KJQ2I&O4FJ4.IM./4VLTZ>I50
M9:F)F3==DJC+.R<VVW-R;K$Y*N.2[SB$3,J^S,L*(=8=;=2E8]C"."`000""
M+$'((.X(Y@QPI*5)4E20I*@4J2H`I4DBQ2H&X(()!!%B,&(IO6GT57/TM7.*
MM1Q.7!H[<<^ZU:=RJ;<?F:`\L^-BT;N=:;2RS566LBDU0AF4N&5;):2U4V9V
M6%BQW')[=CWSS@#8\=N(F[7A9UL7_;%:LV\J)(7%;%Q2#U-K-&J;(>DYZ3>'
MTD+3D+;=;6$/2TTPMN9DYEMJ:E7FIAIMQ,7/K5Z*[GZ7+I56*0F?N#1NXJB6
M+4NEX)>FZ+./A;R;2NM;24I:J;*$K32:JI#<O<<JRIQ"6:FQ-2L5AJ+3ID%*
MGI)*E2:B"ML7*I51/?<EDGT5'W,^:K'"5:=]*G14YIIQZOZ?96[I]U95-2J`
MI;E&<61SRI=/6LV:<.9912RZ2DMN*L6XP-N-AZC?GCZ^>\/COMG&#DX[\XY'
M`V[YW@/3//GG)QW[8^!QD#&^T!D[\''D<`>7;?[.!R!O$!\G?WW\+[?X]@BC
M(;'S(.-M]LC/GQQ\,\XX8]!ML-_,C?XY_#Y\Q7U^(]-SL>?3MSD?"*;_`,F3
MSSVVXY[Y`Y,+]^W[+#N^;.,]L(`;YVX`.>?B=^^VQW_%#.^/CV/;TYV'VYV(
M@=\;=]L\^I_U''VX$.=\'U'?;T]<`>HQ#Q[!ZNSGV?X8WA#?SS](9'D./PCG
MMOD<9+.#SGS\QC.2<`]_AZ;9A@]NWU#MM@<C'?ML,\Q4_P`>VX&=N,[[G/H?
MQP^3..SL[L>/C<GF@.YSMOR.W;!\N3G?8Q0[8'?ZSY#N=LG;G'K%=A]6WP'K
MW[<\8^&8;D<#/KZ?Z]Q_%VX';]OH,(H3@8[_`!QMW)QC&?/LK[8$G8@`^NW<
M\9SVXVV)/IB*XXP<=QV./@<^?&V-O**<;<#M\<CT('IO@GMY<\O7W]W?]L]T
M(=\$>>,X.VPYY^H_Q8AY8W'G@8_BQ@?R;G:*'U5]A]#W`[X\O,#F*Y[D[;;\
M#&Y&,^>V>?+X+=GT'N^?.>79N(10G;D;CZL\GMV/8\[@B+O>D/I&O/JHO82$
MHF:H6G-`FY=5]WLI@*:DI9SPNF@4/WR')>?NFI2ROYWEU)=E:5*N?=.J(+`E
M92?KTA](EY]5%[&0E#-V_IW0'VE7Q?'S5+C=/0M'O&Z%0TO!+$_=%1:Q[EG+
MC%(EE_=6I)6T)63GY46FNFEEZ1671+`L"ARE`MF@2J9>3DI9"?>/.D`S-0J$
MQX0[/U6H/>*:J-1F2N9G)IQ;KJSE*4RO3NGEU%29J;2I$BA5T@X5-*21="=B
M&@19QS\8C@1GC4FZ>BWHM>U6^W6ZTVXQIR7<NVV;H=K#K:O.99.%(DD*!3,S
M*<K(5+RYZP.NRWD6I8-MV98E$TXH<O.-6M0+<E[6ITO,U2HS4\BD2TE\P;:<
MJSLR:DM\R^1\Z3,MO-J(5+J8"&DMQH>N3H=KO3/7WKPL]F>K>B-=GTMTNJON
MN3U1LJISJE*;MNYGU#WKDN\_[P4*X7\IJ"5-T^HO"L!MRHRD8]+<=N4*[J%5
M;9N>D4^O6_7))^G5>CU65:G:?49&904/RTU+/)4VZTM)X(\2%A+C92XA"TSN
MKT:7JLH&"`TZRD^2NI&&C8#@*1NTH)2%)&0`"FQ`C9+7&@*5K.C-4Y:424Y3
MVU"C3K38M(JX$(ZA3:;!<DZEMM#K`M8(0MLI<;28@_\`.V,`$_'G!';P^H\C
M@19+U3WKU=_-YFS.F'2.?<>?;+=4U7JM;LF73+-O,_3EK(H55KK4PF>94O\`
M5+BKDFEMAQ!^Y5-<<0FH'/'UQ]#M=Z9Z\Y=]FLU*X-%:[.GYA5709F<L>H3;
MZ@Q:]R/H'B7*.%;;-O5]]*$U(8IL\H59#;E1Q[8&YP.23G'Y#(W],[Q7E+G%
M:4K;<S/T*E5EV35Q-R%;;FYBFK7<%N8<8E)R2\J0`DE#;RURR[D.L+X0E.DE
M1I=1TE6WJ?6*:R9R27[A-I<<E7DDW9F6BVMH3,NX!Q-J*BVH72XCC2M"8N]4
MZ`>MBN5*?K-:TMJ]7J]5FWJA4ZI4KYLR>J-1GIE9<F)R>G9FYW9F;FGUDJ=?
M?=6XH]P``/`_2[>L7./SG9GR&+OL4<;#_P`)/+(X[\")2V!P1C('8<G.=\<Y
MWV`XSQD!@#(`&V,C&,9\L`\_:.YV$7LC]U1KYM*&VZ)H]"$)2A"$4^K)0E`"
M4I0E*:X$I2D``)%@+`=PROW=U8"WDU/L!P@=5,8`L+?A.UA:WAV1%I/L[>L4
MDYT<F#YYN^QCQVQ^:0?$GT["*GV=W6+G?1R9XQO=]C`Y!!!_LDWQY^>(E*^%
M/.!SY8.?3?D#;;/&W<&I3OL!]FP]?4_ZO+,??[ZO7_\`4VDL#%Y&L[BW97?\
M+8WA]W=6_HU/Q_V4QW?[5W"(M/Z7;UBC(_.=F.<^$W=8Q'Q_LD!]3GS&<XS!
M7L[NL4[G1V8[C^RVQ/B!G\T>=COS$I;PI/;G;@;8_(]CGOM%,#TX&WAW'GN!
MC.Q^N./WU?2`3?V'TB#C^0UCE;_OP]^_[</N[JU[^34__P!.8]?\IW[]_&(M
M1]G;UB8_:<F<^9N^Q<_`_P!,GJ,<8^N!]G;UC'_:<F1@D_V76+MG&VUR#;OO
MY^@B4J0G&Z1R1P//!\MR,\;\]]B(]/@`!O\`$D=]^#QSOSS^^KZ0,?P/I'';
M(U?_`%;CW\QS.XQCG#[NZM_1Z?B_\5,<_P#BHBT_I=O6-_O.3.V^]W6,3GSR
M;DR.1G'(QD[Q7]+NZQ=_UG)C'E^:^QL8QZ7+G.!G.?7&8E+83GM\-L?9CG.?
M/CGM%,#)R,8[X'VG/;G'/?.^,!^ZKU^1[SZ1%LW\AK'</Z]^CEM;:!UW5C_)
MJ?\`^E,=W^U=P_Y1%J'L[>L0$#\YR9)QP;NL7)/F?Z9,<>GK`^SMZQ>^CDQR
M#_9;8HXQ_P`),G?S)W/U1*6P."!Z;8SCN/Y,G;T.]"!MMOVV&>.>,9WP<[=X
M#]U7T@7]Y]([?T&L'&#_`%[L,DV]8Y!]W=6O?R:G]_M4QZ[??6!V#E$6G]+M
MZQ>^CLSG`']E]C<CGFY-\DY/',7!:!:$>TAZ<*ZNJZ<Z>3:*3.S#3UP675[N
MLN?M"Y0C"5&I4L70@RT\6@&VJU3'9*KRP"/#-.-(]PJ0I@`';'JH`_B_'Y^9
MBZ?I3Z4;YZI;\30:$AVC671)B3=OV^7)=#DE;L@_XG$2<DVZ4MU.YZFRVI%)
MI"5*#:2:E4O=4UA2GO+.?NCM::DEW*+/Z5T35I2?`9<D)JEU5]EX'A-U(<K9
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M+MFP"GWW7G2`IUQ1"0G;'H\Z/9#1,DXZI+3U;J#:/9&9;+BF&47"Q(2/7*4X
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M3:ZT``DL7R1:[5]^K`X*.Z6.BE=$7,ZFTXPI='<4IZI4]M)4JE*4;JF&$BY-
M.4HE3B`+R1-_P7+&-D[';N-^<G'D<\[_`(.?*F^_`X.,G8=AV&Y!VV]<QRP0
M3GG?;'&.V_<$^8^`Q`[?C/P`[?7C\L1"^[?`\>7;?;86M%`0X&3Y;G@[?B[X
MW&_',4.=]QQOCSQWP<[]L`';ZC4=\[[C@'`SV[XXR?CZQ3'XB>,\^F>#V[]L
M\YX^WV^WT0@<<[;XSGR'.`3ZYQ^,Q7;<YSY>@/EW.3_$!%#VSQD?;N,';?/P
M&V?+<>^V,'^7)'KSR<#8\QSR'T_^7:]LCGW<[0AOMO\`#.,'GRQVQVP/7D!D
M9W.3CL._^H;[]CCL8KL=O@2#SCZ_L//<13(.^>!Y$G/F1^+CDD;0[LY_RM\O
M9X;PAC&P!YWSY'R\\8[[XV':`(QMC;L/C@G&_GQSVY,`"><8/(W],;$?'L/7
M)BNQP<CXYQ]F_H?P[\Y8Y[W^U^WYO$\D4.!OC'<^?VX().2.>^T.2<<Y&,Y[
MCN-M\`X[?ABFQQDG&"/+L=_L.W;')SB!/.!N1YX.>.>V.!G&X(QO#NS?Y.S?
MPS?EZH17/.!QGZSZ''.<C@Y/QAY[\]R.,=SQC?;';&?.*G?/PQZY[C@[';\?
ME#XYX&WP\^V3P1Y?@8_Q'/EMWG/A"*`C?MMSGN<D^F>YQM]0BXOIGZ9[_P"I
M^_V;0LYGYC2*<9:;O.\9ME:Z3:5'=>"2^Z/H">K$X$N(H=#:=$Q/OH6^Z6*9
M*STXQ7IFZ9M0.IZ_Y>T+0EW)"B2*V)B\[UF99<Q1[0I+JE^%Z93XVD3M8G@V
MXBB41#S3]1=0XXM<O3I6<G&)66B6B5A:`Z?T?3O3ZEID:536@Y/3[R65UBXJ
MLXE(G:]7YUMII4_59Y8RXZH)9EF4LR4DU+R4M+L-R?3^GW*FX)B8"FY%LBYV
M5,*&[;9Y)!OUC@]$^8GS[E%O=&'1C,ZQF4U2II=E=-RKMEN"[;M4>;(XI245
MA264GS9J:3Z&6&27^-4O[+2#2JUM$M.;6TPLQ-1%N6G(&2D%56H3%2GWE.ON
MS<W-3$P^HI2Y-SDQ,3)EI1N6I\H73+R$I*RC;3*>RH0BU4(0TA#;:0AMM*4(
M0D62E"0$I2!R```$;J2TNQ*2[$K+-(8EI9EMAAEM(2VTRR@-M-H2+!*$(2E*
M0,``"$(0C[CNA"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$
M(0A"$(0A"$(0A"$(0A'S-XV;:^H-L5JS+SHDA<=L7%(/4VL4:ILA^4G91\84
MA0V6TZVH)>E9IA;<U)S+;4U*O-3#3;B?IH1PI*5)*5`*2H%*DJ`*5)(L00<$
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MNGW5\4U*H"EN49Q:K=ZET]:B`VZ;JEU$-/$I+;BK%R`<Y]>^WU_EMVAWV[<\
M;G&V?P9V/;'!B@SR3MZ[8W]?+X#/VPW.0=M]^>!C8<;'N?//F(B'T=O(;7_S
M]44;%<GG(QCU&?MX!'V>HBAX/'F>^,G<X[XY]3V@<^A&^=\#&_)Y_!SGTPQS
MMZ@_'G!WP?3SWXX"V][6-^5]Q\^>RV/D17MWSY$C?X\C&^_\N(;YXX'/;)_"
M>_E^&*8V&/@3WP=LC&?0_"*C8X[``9SWQQ]F#MZQQ"*9/&QX^//)'EWVX/?N
M!P!QCN,8\M_3.,^8\LG:!].W'D.W`/.#L/LAZ`$9&^"=NY'//J<9SG)X/.,;
M?/RMOG;_`#%MH0SVVR<[<?7Z[[]B1DXR,0SW(XY],=]P,_EB'U#&>/+`V/IZ
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M^^53-0J,VXY-3DPM3CJS]%*?O(0BTD(0VA+;:4H0A(0A"0$I2E(LE*0,````
M`8`Q&Y3##,LRU+R[3;$NPVAEAAE"6VF6FTA#;;;:`$H0A("4I2`E*0```(0A
M"/J.V/1W+;5`O&@5>UKII%/K]NU^0F:76:-5)9N;I]1D)MLMORTU+N@I<;6D
M[<+0L)<;4AU"%IC$=<O0]7>F>X'KQL]F;K>BEP5(MTB?(?FIVQYZ:7XF+9N9
M]7B*I5:BIFW:^\LBHH0*?4%-U5MM=1E)QZ:XK=H=VT*K6S<M*DJW0*[3YFEU
MBDU%A$S(U&GSC2F9F4F67`4K:=;4H'A2#A;:D.)2M.'K%'EZO+\"[-S#8)8F
M`+E!WX%VL5-*('$F]QZ22%"('KW05,US3/)YCAE:G+)4JF5-*`IR7<.2R\!9
M3TF\;!YDGS39UHI=0"8/XSR><?CW/./JSY;G>&=\?EOVQSQYC\,9!NN'H:N#
MIGKK]X6<Q/U[1*M3K;=-JKJOGE0LF?G'E)E[9N9T`..2JUE+%`N!Q)144^[D
M*DZW5PVY4,?&/09!P=OK/ECG/H=O**AG)-^0?7+3*"AU!L1^*H8LM"K66A0R
ME0P>=B"D:,URAU/3E3F*35Y9<K.2RK*2;EMUM5^KF)=RP2]+N@<3;J<'*5!+
MB5H2.X(VW]<9W.2!O_VY)&T/I9XVQ@8P/L!_CP!N-^]<=_,8.V_QW/X-_KB@
MS^';TWQC;D\Y))`V.\>:_AX9[OIM]/=&)BI\O/O_`*M_JSMY]@60?RWQCD;9
M]!CS\]HH1GD_]A`!QY`<G.\5^K?S^TXS@X&WU9X!Q''+Y?V?;[81QW&.-M\D
MXY).,C;XC<&.6_?&3P,^0[>O.?CS%-]@1Z[<;>6_J!N<9W$5R-O7<?'&V/+T
MXWCD^`]6?HO;:^+?)"*'?T.^-L\8[?'&VQR.(>6?+P[>?P`([;]AQ#\O@>-^
M=\'N.><148/8>?;(/KY$_;YXQ''V^C_+[&$4'&=_A^';SSGT[#`Q%0/J\]LY
M&.Y[GU!]-XXD'(P!SN<>9QG&WED]QMN1%U/2GTHWYU37T*%0$KHUF41^2?ON
M^'V"N2M^1?7XA(R*%I+=4NBI2Z'?N320?=H2DU&I+9I[)+_?+R[TT\VQ+H4Z
MZZ>%*$BY)YWY`)'G*42`D`J41:\>ZF4R?K$]+4RF2KLY/3;@:EY=E-UK4022
M2;)0VA(4XZZLI;:;2MQQ24)4H<>E/I3OOJFOH4"@)>H=G4=QEZ^;]?DES%-M
MZ46$N(D)-*RVQ4;HJ;8(I%(]Z`EL+J514S3V"7Y5>DVDMB:)V-1=/-.Z(Q0[
M=HS("4)"7)ZIS[B4_/:U6IXI2]4ZS4G4^^GI^8)6XKPM-!F5988::2:2V+HC
M8E%TYT[HZ*-;=$;7[M!67Y^I3TPH+GJQ69]8#U2K%1>'OIV=>^DH^!EE#,JQ
M+R[79,6U0J$S2&>)7"[..I'7/6PB]B6F;BX;!&584X0%*``2A.[W1ST<R&AY
M'K7>JG*_.-)$_/A-TLI/"HR,B5`*1*H6`5N%*')MQ*774I2AEEA"$(S\69"/
M65JBTBXJ34:%7J9(5FBU>3F*?5*54Y5F>IU1D9IM34S)SLG,(<8F99]M2D.L
MNH4A:3@C@Q[.$<$`@@@$$$$$7!!P00<$$;B/E24K2I"TI6A22E25`*2I*A92
M5)-P4D$@@@@@V.(C&==W0G5>G:K3.H>G<K/UC16LSKBE`(?G)O32=FG_`-0H
MU:F"777K;F''4,4"OS*_&TYX:/5W!,_,)NHXV#D'CC(P`?$.>WQ'<`9QY1.(
MK-&I5PTFI4*N4^3JU&K$C-4VJ4RH,-S4C4*?.LKEYN3FY9Y*FGY:98<6TZTM
M)2M"B.<$1GNNWH1JW3M5IW473N3F:GH?5)UE*0779ZH:<S\ZZ&V:-67'`I]^
MW'YE:9>WZ\\Z\XTMUFCUA[YY\SG*C6NH].&54N>D47E5$E]A(N9<G)<1:YZF
M^^/:CR+?HZC]*_10JB*F-2:;84JC+4IVHTYI)4JDJ5<KF&$BY--*KE:!F2)P
M/);>3XV#GX^0SC@['MP>1P=M]A`8(V';.-AOVX'!]>0!YF*[YP00>."-^X\Q
M]>-]N1%,'[<C;M^6!N?(8&\0N_["+''KM^RQ[8H&'J1@;8/)]-L'SV[^D,'C
M)W^'F-L';C\1(&YBO/.>_P"`_6#D>OJ!Y4VR>.PS]NQ)SD@9SD?CACP^<<O'
MO)W[+0BIXQP-\G)'KSV\]]NW?:@W/;8GRW.V_<C<#G?<'/:*CC[0!_%ML?PX
M]2,Q3RP./AOY^@(/([XV\H#[7[_'[<^5PBI_!G?'/E_)G@@"*9_!MP?KV[?7
MN/KWIY_>@[^FXV.^,^9/?C?F*@8].>3W)&,]LYXWS\=\/G\#X7Y?/],(;^1\
M\$C\'.^<<[#TBI/'ER=L\?EZ^G&10[?4.=_X_@-L[[YS#?([Y],8SWX]#MD]
MO.&_9]%[6YG%^?K\!"'._((^`^S<[X[@G?8\Q<7TT=-%_=3VH#5G6<U]SZ1(
M"7G+RO*<EG7J/:='=<(]],!'A$Y69U"744*AI<;>J3Z%N/.2U.EYN<9Y=,_3
M)J!U/WZS:5G2YD:)3G9.:O:\YICQTFTJ/,.+P\Z"I/SZLSS;+[=$HK2O?S\P
MA3SYEJ9+SDVU*OT0T0L'I_T_I.G>GM+$C2J>@/3T_,>[=K-PUAU*1/5ZO3R$
M(5.U2=6`5*\*)>482S(R#,M(2TO+MR?3^GW*FX)B8"D2"#DVX3,*%KMMD'T0
M00XX-O12>LN46]T8=&$SK&934ZFAV5TU+.6<<'$V[5'FU#BE)16"&4D%,U-)
M]`W89/7\:F&B.B&G_3_8-,T]T[I*:?2I+,Q/SSQ2]5[AK#R4B=KM=GO"ER>J
M<X4)"E*PQ*2Z&)"1:EY&6881V]"$6JVVVRVAII"6VVTA"$(`2E*4BP2`,``1
MNE*2DM(RS$G)L-2LI+-(8EY=E"6VF6FTA*&VT)`"4I`L`/$W))A"$(^X]$(0
MA"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0
MA"$(0A"$(0A"$(^:O&SK8U`MFM6;>=$D+BMBX9!ZFUBCU)D/RD[*/C"DJ2<+
M:>:4$O2LTPMN9E)EMJ9E76GVFW$_2PCA24J2I*DA25`I4E0!2I)%BE0-P002
M""+$8,?#C;;S;C+S:'6G4*;=:<2E;;C:TE*T+0H%*D*22E25`A0)!!!B*;UI
M]%%T]+ESJJ]'34KDT;K\[[JV+K?0AZ;HTX^5N(M.[52Z$MLU5I""*75RS+RE
MPRR2II+538FY46,#/!W[]_Q\>7EG<D><W*\[,M;4.UZW9=ZT.0N2UKBD7:=6
M:+4V0_)STJZ4J\*TY"VGF74-S$K-,+;FI.::9FI5YJ89;<3%UZU.BNY^ENZ!
M5Z29RXM'KEJ#R+6N=Q"G9NA33JE.MVE=BT>)+=499^C2ZRHMRMQR[:G&TL5)
MN:DDUAJ/3JI$JG))!5)*-W&Q=2I92B`!S)9)L$JW1Z"SE*E:>]*O14YIMQZO
MT!E;NGW5\<U+)NMRCN+4!V%2Z>M2@&G"2J740TZ2DMN*L7(XQ]OESV[YR?7S
MBF_?!WQOY;XSG;(.QQD_$X@>^<^@/ISP2".3CGG8X$5[_8.^XP3W';?^,Q$.
M5_H]7/?G\NV\49%//)S\/4CU.W.W?@>45W(W'/QY^'EY@X[Y\X$]^W/._(['
MMQGOVQDQ3MCCOMY9[9.P/H=O/S?8GY.SZ>?C"!.X`QOY\CCMG/&?P9QO`\[[
M['C([;X'<X/G\.\,$X.1S\1C&-N._&_<\Q4G&-L_7_*=S#LM;[=I-OL/64/C
MMOMW^!XY/^KOB+N^D7I$O;JGO7YC)?.[?TZH4RRJ][Y5+Y:D&E>%T4.@AY!E
MZC=,^QGYO+GWDO2I=?W3J@#?S64GJ](G2%>W51>AE)'W]`TZM^;E_P`W%\J:
M0M$@VXGWR:'0VWOU.HW//L`EAD!R4I,NXBHU;#9DY2?E0Z:::67I#95"T^L"
MB2]!MBWI02TC),96ZXM:B[-3\_-+R_/U.H3*G)NHS\RI<Q-S3BW7%;I2F5Z=
MTZJHJ3-S25(D4*NE.4JFE)(\Q)!!#0-PXX#DCJT$*"RW=/1;T6O:K>;K5;:=
ME].,.7;0>)MVLNMJ'$RR00M$DA0*)F:20I:@J7EE=8'79>FF6F=E:0650]/]
M/Z)+4&V:!*B7DY-@>)UYU1\<U4*A-*_5JA5*@_XIJHU"94N8FYE:G'%`>%"?
MO80BTD(2VA*$)2A"$A*$)`"4I2+)2D#`````&`(W*889EF6I:7:;8EV&T,L,
MLH2VTTTVD(;;;;2`E"$(`2E*0`E(``L(0A"/J.V$(0A"$(0A"/1W+;5`O&@5
M>UKII$A7K>KTA,4RL4>J2S<W(5&0FD%M^6FI=T%*VUI.01A;:PEUI:'4(6F,
M3UQ=#=?Z:*^]=]GLU"OZ)UV>6*95%(<FYVQIR9=)8MFYWT^)2I1:E^ZH%PO!
M#4^VANG5!2:PAM=0E)1Z2Y+;H-WT&KVQ<])D:[;U>I\U2JQ1ZDPB9D*C3IUI
M3,S*33"P4N-.MJ(/"D*"7&U(<0A:</6*-+U>7X%V;F&P3+S``*D*WX%?E-*(
M'$GEZ2;$9@>O=!4S7-,\GF.&6JDLE:J94THNY+N')9>`L7I-Y0`>:)NGW5HI
M=2"80)V\LC).>=MCP.1QQZ0&1S^$CCSX'UC@`;>N0?KBZ&Z]TS5UZ\;1;G*[
MHC7:@VQ2JF\X[-U*RZA.%:F;:N5TI*G95:TEN@W"X0W/I+=-J!;JR6W*CCWX
M]#SSG!.0/3))XV'.^T5#.2;\C,+E9E!;=0<C=*DGT5H/XR%9*5#<<@;@:-5R
MAU/3E3F:15Y94M.2RK*2;J;=;-^KF)=RP#TN\!Q-NIP1=*@E:5H37;.^=S^$
M<?5L2.W)\H8Y\_\`5C(P?CWSVSL(IW[\=\=R/+X=^=]\0WS]8QG([?#)/F-Q
M'FM\V3X8MZ\YC$0QGU_+(WW/8=SVVBN<8W_C)/U;`_C["*$8W`QR<^7F>>3V
MV/KSM0GZ\]P1Y8R?(`Y.1L/(F&,;VSC;(`O]MSM;G"*X.#G<[[=N,8W&P/Y'
M$5[[\GX?''<[8\\?Q4)QS\>WD2`?+<<[C(BZ;I3Z4[ZZI[Z-OV^54.T*(J6F
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MRAF59EY=KLF+:H=#9I#/$KA=G74V>>W"1@]2T2`0VD@7-@IQ0"E``)2G=[HY
MZ.9'0\AUKO5SE?G&DBH3X!*&DGA49&1X@%(E4+`*W"$NS3B0ZZ$H2RRRA"$9
M^+,A"$(0A"$(0A'KJQ1Z5<%+J%#KE.DJO1ZM)S%.JE+J4LS.R%0D)MI3$U)S
MLI,(<8F9:896MIYEU"D.(401'L81P0"""`00001<$'!!!P01N(^5)2M*D+2E
M:%)*5)4`I*DJ%E)4DW!202""""#8XB,5UU]"-9Z=ZM-:A:=RE0K>BE7G%.+4
M$&9G=-YZ;F2F7H=9<2I3TQ;KRW42]!N!].63[ND5EWYV).<J.-OOC`&#W!!^
MH$<YY[<=XG#5JBTFXZ14Z!7J;)5BB5F0FJ95J549=N;D*C3IYE<O-R4Y+/)4
MT_+3##BVG6EI*5H40>Q$9_KMZ$:OT[U:;U%T]EIJK:)5:>"4H29B<J&F\Y-*
M!9HU;><+S\Q;C[Q4S0K@>6KYNKW5)K+B9PR,[4:UU)IPRI7/R""94W4^RFY5
M+D[K0.;',C=H_P#9Y1J/TK]%"J(I_4FFY=2Z,LJ=J-/:!4JDJ4;J?82`2JG*
M.5I%S)$_T7,OC9[`'\`.V/Q?C\L=J'/&`>_./,X]#D'!_#G>&.Q&".1G!!W!
MXQQ^6XQ%3OG^/SQP1CCZ^_'&(6#;_F>[LMF*!BG(!S]F">".>.>^`//:`SOY
M=LX)'K]NX^';:&P[>7&!N=MM^=^=MN^T,<#R.<GX[^OG@_7G.\/VXSRV^W>+
MPBHVY).?3?N>W;T^KTBG8?'.0`>_/!W//G^&&.<C)SL<9&/7)''IY[9/BAGC
M;.,[\GCC?N>#R=M^=G/Y^0'^'JM\IA`GGRV[$Y'<'8\YVQ_$8N,Z:.FB_NIW
M4"7LZT&%2%'D2S-WE>4U*N/T>TZ.XI7AF'P%-(GJM/%"VJ+16GD3$^^%NNJ8
MI\M.33/'IGZ9[_ZGK^:L^SF!)4>GJE)J\[QG&E.TFTJ,^X4B8?2%M_/ZO.!M
MUNBT-EU,Q4)A*G75RU-8G)UB5GHCHC8'3_8%+T[T[I7W/H\@I<U.SLPI,Q5Z
M_6)A#:9ZO5V>\"%3M5G2V@+<\*&9:7;8D9)F7D9:78;D^G]/KJBQ,3`4W(MJ
M\X[*F%"WM;9W"0<.+_%]%/GW*;>Z,.C&9UC,IJ=32Y+:;E7;..#B0[5'6U>?
M*2BL%+*2"B;FDGVO++)+Y6N7IHAHAI_T_P!@4K3S3RDID*7()2_4)]\-N5BX
MJPXTVB=K]?G4(09VJSRFP7%^%#$LREJ2D69:1EV)=OMZ$(M5MMMEM#32$MMM
MI"$(0`$I2!8``8`$;I2LK+2,LQ)R;#4M*RS2&9>790&VF6FP$H0A"0`E*0+`
M#Q-R280A"/N/1"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$
M(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"/F;SLVV-0K6KEEWG19&X;
M7N2GOTNM4>HM>]E9V3?'TDJP4N,O-+"'Y2;86U-24TTS-RCS,PRVXGZ:$<*2
ME25)4D*2H%*DJ`*5)(L4J!N"""0018C!CX<;;>;<9>;0ZTZA;;K3B4K;<;6D
MI6VM"@4K0M)*5)4"E220008BG=:_15='2[=)K%'3/7#HU<50+-K72^$O3=$G
M)D..MVA=;C8`;JC*$*%)JRTLR]Q2S94@-U1F;EA8MMGM@9WSGU/PP>3OVB;I
M>5FVOJ#;-9LV\Z'3[CMBX)%ZG5>CU-@/RDY*O)P0H'"V7FE>%Z5FY=;4U)S+
M;4U*O,S#3;B8NO6KT5W/TN75]UJ**C<>CEQ3JT6Q=#K2GIB@S3JE*1:5VOM-
MAMJJMH"A1ZHL-2]PRC:EI#=38FY:*PU'IU4@53LDDJDB;K;%RJ5*CGO+))LE
M1OP7X5G*5*T\Z5.BIS33CU?H#2W=/NK*IJ52%+<HSBU`8W4NG+4JS3ANJ6-F
MG24%MPV*Y[G'8[;'MW)P<XWWX`YS%?/&Q\\>??U_EBF=L@_$CL!SY_8?,Q7C
M'._'IL?7T]=]_A$.6WK^3Z/VYBC8XY`QN!C.?3.<#88[<9''?F+OND/I%O3J
MHO8R,FJ:M[3NWYAA=[WP)8.-R+:PAY%!HB7L,3UTU%@Y89)<8I$LL56IMJ:^
M:RD]3I$Z1;UZI[W$C)?.J#IU;\U+KOF^%,!3,BPOPO?<&A^]2&9^Z:BQGYLQ
M]-BDR[@JM2`:$I*STJ+3/3.RM(+*HFG^G]#E;?MB@2P8DY*6!4X\ZKZ4S4*A
M-.9F*A5)][Q3-0J,TMR9G)A:G75_>I3*]/:=545IFYI)1(H-PFY"IE:2/-3:
MQ2T,A;@))-T(\[B4BZ>BWHM>U6\W6JTVXQIQAVZ&R5-NUAUM7G,LJ!2M$DA0
M*9F9205D*EY=76=:[+TTSTRLG2"RJ)I_I]0Y:W[8H$M[B3DI<%;KSJS[R;J%
M0FEY?J%4J#Y7-5"H3*US$W,+4XXK`0E/WL(1:2$(;2E#:4H0A(2A"0$I2D"P
M2E(L``,``6`C<IAAF69:EY=IMB78;0RPPRA+;3+3:0AMMMM`"4(0D!*4I`2E
M(```$(0A'U';"$(0A"$(0A"$(0A"$(0A'I;CMR@W?0JM;%T4BGUZWZY(S%-J
M]'JDLU.4^HR,T@H?EIJ6>2I#C:TX.X"D+2EQM2'$(6F,1UQ]#==Z9JZY=]G-
M5.X-%:[.*3(55Y*YN=L>?FGBF7MFY9A/B4Y*.>)+5OW#,!M-0'AIL^L59+3E
M0E(QZ.Y;:H%XT"KVM=-(D*];M>D)BF5BCU271-R%1D)ILMORTRPX"E;:TG(.
MRVUA#K2D.H0M.'K-&EZO+\"[-S#8)EY@#SD*WX56L5-*/I)O<>DFRA$$UYH.
MF:YIAEY@)EJI+)6JF5-*+N2SAR67@+%Z3>(`>9)NGW5HI=2"80&XR-\]\X\@
M,[D<8Y(W.1M#OMG<#?MMYXYXX`WR`,;DY"NN3H>KO31<+UX6>Q.5K1*X:E[N
MDU%1?FYVR)^;)+-KW+,+]XMR56O]2MZOON8J2?!3I\HJS:'*ACVY/GSCGZ\C
MC;(&#^.*BG)28D)AR6F&RVZV<W%PI."E:%;+0JQ4DCE>]B%`:,URAU/3E3F:
M15Y94M.2JK*3E3;K9OU<Q+N6`>EWDCB:<2!<72H)6E2$OL.`1MQGRP.W`\_C
MG9OMP"?K\N/XP/CGS;$G&1ZXP/+'(WSY[C<;1=1TI=*-\]4U^)H%#2_0[,HR
MV7[XOQZ36_3K?D5J2MN0D0L)8J5TU)O(I-(+@2A'CJ-0+-/9R_UR\N]-/MR\
MNA3KKJ@E"$@$DG)OR"4Y*E*(2E()40`2/-3:9/UB?EJ93)9R<GIQT,R\NT!Q
M+6<DE1(2VVA(*W77"EMIM*G'%)0E2A3I2Z4KZZI;[;H5!2_1K+HLQ*N7Y?;D
MNEV1MV0>!=1)2;;I0U4KGJ;2%II-*2I0;2HU.I>YIK)+TJK272:QM$;#HFG.
MGE'11[<H;*DMI4H/S]2G7B%SU9K,\4(=J59J3P]]/3SP"G%!#3*&)5B7EV6D
MVDMAZ)6/1]/=.J'+T.W:.T`$(`<GJG/N(0)VM5J>*4O52M5%Q'OIVH3)+CA\
M#+89E69>7:[)BVJ%0V:0SQ*X7)QU(ZYZV$@V/4M7R&TD9-@IQ0XE6`2E.[W1
MQT<R.AY#K7>JFZ_.-`3\^$DI:02E7D,D5I"T2J%!)<60ER:=2'70E"6664(0
MC/Q9D(0A"$(0A"$(0A"$(0A"$(]=6*/2K@I51H=<ITE5J/5Y*9IM4I=1EFIR
M0J$A.,K8FY.<E7TK9F):896MIYEQ"D+0HI(CV,(X(!!!`(((((N"#@@@X((W
M$<*2E:5(6D*2H%*DJ`4E25"Q2H&X(()!!!!!L8C&==G0A5>G6J3.H>G<K/UC
M1&IS386IQQ<Y4-.:C./%MFCUEXDO3-NS#RD,T*X'P5L+<9HU8=5-F4G:CC8^
MH['!R<>6_/)SGUW[G><-6J+2+CI-1H-?IDA6:+5Y.8IU4I-4E&9ZG5&1FFU-
M3,G.R<PAQB9EGVU*0ZRZA2%I.",X(C0==W0G5.G:KS.HFG<K.U?1:N3RS[M*
M)B;G--IZ9<RQ1:S,J4\X_;<RXKW-`K\RL+966Z+5E"93)3M1K74FG#*%<_(H
M)E2>)YA()\G)(!6@?S!YC=KXO*-1NE?HH51%/ZDTW+E5%62[4:<T"54E2CYS
M\N@"ZJ:HD%:!<R1)/X)^#XV!MY#X;Y(YP.=L#:*=MCN,9.3R.>=AWY&#G)]:
MG(V(P?(`@@G/(&X'V[]]H9QSMS_$01MC8'?;MWQF(7G]G;>UL=_+$4#`=SCG
MD$#;XCOL<G)^',7%],_3/J!U/7^Q:%GL*D*+(*8F;RO6:E''Z-:%*<4KPO3&
M%M)G:Q4`A;=$H;;Z)BH.I6\X6:=*SLVRZ:.FB_NIZ_F;.L]HR%(D?F\Y>-Y3
M<LZ[1[3H[KH1[][P^%,[69T)=10Z&AUM^I/MN.NN2U.EYN;:E9Z)Z(Z?:`6'
M3-/M.J.BF4F2'OY^<=(?J]PU=QMM$[7J]/E(<GJI/*;27%GPR\JREJ1D&):1
MEY>7;D^G]/N51P3$R"B00JQ.0J84DCVMLX(2+6<<&PNE)X[E-O=&/1A,ZRF4
MU.II=E=-RSMG'!Q-NU1UM7G2DHJP*64D<,W-I(ZO++!+_&N7IHAHC8/3_8%)
MT\T]I8D:73T!Z?J$P&G:S<57<0E,[7J_/-MMJGZI.*2`IPI2Q*RZ&)"19EI"
M5EI=OMV$(M5MMMEM#32$MMMI"$(0`E*4I%@D`8``C=*5E9:1EF).38:EI66:
M0Q+R[*`VTRTVD)0VVA(`2E*0``/$YA"$(^X]$(0A"$(0A"$(0A"$(0A"$(0A
M"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A
M"$(0A"$(0A"$(^8O.S+7U#M>MV5>E$D+CM:XY!VFUJBU)HNRD]*.D**%A)2X
MTZTXE#\M,L+:F929::F99UI]IMQ/T\(X4E*DJ2I(4E0*5)4`4J218I4#<$$$
M@@BQ&#'PZTV\VXR\VAUIU"FW6G4)<;<;6DI6VXA0*5H6DE*DJ!2I)(((,13>
MM;HKN?I<NDU>DF=N#1VY:BMFTKF<)F)VB3;J5/HM.[5MMMH:JK*$N"DU3`E;
M@E&`X%-51N;DA\ITA=(MZ=4]ZB2E1-T'3J@3+)OF]_<I*)!M20\BAT/YPA<O
M/W3/M^$L2Y2[+TN66:G5`&_FDK.RM[RLVV-0;7KEF7E1I&X+8N.GOTRL4BHL
MI?E9R4?3@A25#Q-O,N!$Q*S+2FYF3FFF9J6=:F&FW$^KTWTULC2.SJ/86GMO
MR=M6M0V"U(TZ3]XLJ<<47)F=G9M];LW4:E.O%3\]49YY^<G'U*=?>6<8ABM'
M2QJ(>"P*<?;%2OG=8'+CVI*QLPK<GBZP"Z!FS@H)WH&I"]6)J*9G@TPHF:=H
MPZP3`F0L$2+;X]&FKRM2^,3+:`99L^<F8;X:9:965I!95#T_T_H<M0+8H$J)
M>2DV,K=>=6?'-5"H3:\OU"J5!_Q3-0J$TI<S-S"U..*QX4I^]A")DA"&T);;
M2E"$)"$(2`E*4I%DI2!@````#`&(OMAAF69:EI=IMB78;0RPRRA+;333:0AM
MMMM("4(0@!*4I`"4@`"PA"$(^H[80A"$(0A"$(0A"$(0A"$(0A"$(0A"$(]+
M<=N4*[Z#5[7N>DR-=MZO4^9I=8I%281-2-1I\XTIF9E9EAP%*VW&U$;86A02
MXVI#B$+3&'ZX^ARN],]?7>%FLU"NZ)UV<0U3:H^Y\\J-E5*:64M6S<KX0E;D
MJ\X0W;M>=24SZ`*?47$U5M#M1E)1Z2Y+;H-WT&K6Q=%(I]?MZNR,Q3*Q1JK*
MM3M.J,A-(+;\K-RSR5-NM.)/!'B0H)<;4AQ"%IP]8H\O5Y<H6`B80#U#]KE!
M.>!=K%32B!Q)OCTDV4,P/7N@J9KFF>3S'#*U.52M5,J:4`N2[BLEEX#SG9-X
M@!YFX(-G6BEU()B3]*?2G?75+?@H-`#E&LZAO23U^WL\R').W:;,.>),G((<
M26JG=%192Z*121]!`2JH5)3%/9R]*JTETDL31&Q:-IWIU16Z);=&;64-^,OS
MU1GY@I7/UFL3RP'JC6*F\GW\].O'*E>%EA#$HS+R[/[Z7Z5V%HU9M,L+3>W9
M.V;8I7OEL2,J7GG9B:F7"[-3]1GIIQZ>J=2FG#XIB?GYA^:="6VRX&FFFT=A
M1TT.A,TAGB5PNSKB0'G[82,>U,W`*6Q87.%.$!2@`$H1X.CKHXD-#2)==+4[
M7YML)GZ@$DH:02%>12/&E*VY5"@"XLI0[-N)2ZZE"4LL,(0A&>BRX0A"$(0A
M"$(0A"$(0A"$(0A"$(0A"$(1ZRM46DW'2*G0:[3I.KT6LR,U3*K2Z@PW-2-0
MI\\PN6G)*;EG0IM^7F6'%M.M+24J0HCG!'LX1P0"""`00001<$'!!!P01N(^
M5)2M*D+2E:%)*5)4`I*DJ%E)4DW!202""""#8XB,7UW="E4Z=:M-:A:=RLY4
M]$:M.-)'C>7.U#3NISKBD,T2KNN>*9F+=?>\+-!K\PIYQI;C5'K#QG/F<[4+
M9NF?IGO_`*GM0&+0M&773Z+3URDS>MY3+'O*5:-'?<7^KO`E'SZL3J67VJ'1
M&EAVH3*2Y,+E::Q-3K4ONL4>E7#2JC0Z[39&L4:K2<Q3ZI2ZE*LSM/J$C-MJ
M9F9.<E)A#C,Q+/M*4VZRZA2%I)!$?!:2Z-:;:&VHBRM+[7DK6M],]-U)V6EE
MS$S,SD_.N%;TY4*C.NS$_4)@(#<LR[.3+RI:28EI)@MRTNTVF&/Z/EG*BE]M
M8;D5$N.RR;A8<!!#;*@+)97F]SQ-@%*+\0**"J/0/2)O5351EID2FFW2N9GJ
M0V%)>1,)4DB5D74CA:D)DE1<N0[*)2IJ6NEUI4KX&B&B-A=/^G])T[T]IGS&
ME4\*F)Z>F"AVKW#6'T($_7J[.)2@SE3GUH25J"4,2K"69&19EI*6881V]"$3
M%MMMEM#32$MMMI"$(0`E*4I%@E(&``(O>4E9:1EF).38:EI65:0Q+R[*`VTR
MTVD)0VVA(`2E*0``/$YA"$(^X]$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A
M"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A
M"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A
M"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A
M"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A
M"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A
M"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A
M"$(0A"$(0A"$(0A"$(0A"$(0A"$(0BA4E/WQ`SL,D#)\MX0BL(X^(>2O^2K^
M2'B3L"0">`=B?@#@G[(0CE"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(0A"$(
M0A"$(0C6[]4'R@OVQ?35U':Z=/=4UPTIJM0T4U4O/3.;JB^GC3R754G+3J[]
M-342PA*T-&=:;;F@VA2D)0Z`"1O'1/\`-//M>O\`?CTFWSST_:?$#XX;V],D
M#/I'3'RA33=6FWM?>L*51+)EI"]*]IWJ?3O`%%$RU?6D]DS]3FTDH0A1>N26
MKWO%(*TAY+B?>*=2X!A>)P.,XSG<9![YVP0=L<X.`<\1NS0-):.JE#HU17IJ
MAJ<GZ9(S;BA3I4#K9B59=<P$`"RUJ!`">$@IY`10E5U!7Y*ISTHBK3@1+S;S
M*`5#B"4+(3E222"+6)R00;DG,OSV7WRA;VCG4/[0#I6T)UXU(TUN'2G5S4YF
MP;KI-*T=M"UZD^*];U?;HCDE7*0E,_(OLW&S27`6CX'T!<N\"RZH1/IN>O,V
MS:]>N::`,O0:#5JY,@G`]S2:9,U%[?L/=RRMSP(TZ'0)?+VF77+T<:@,.J:5
M:G5%H/5%N(<2R4RZM3;;I\[EU9"$),C/S"7/'A!;*TJ/AWC;1=<]^,:8=%75
MKJ),.%M-E=-VN-Q,E)`4J:I>G-RN2+2/$I(\;LV&&FP5#Z:TC.8I/I=TU3J9
MJ+3[%(I\K(,5&6#!8DV4,MN3")TH*RAM*07%(F&D%5KD)2+V``GVBJO-SM*J
M#T],N3#LJ^M1=>-REOJ$K"=@.$<)5CF2><:[>:^4_>UO?F9E^GZO:4LR#\S,
MOR#+F@&G[CC,@^\X]),N+4CQ.+9E%LMK</TEJ25+)423^`^4\^UZ.0-8])MN
M3^A^T^^/_B\';CXY[;1\9=`1+R[6?ZG+2S6^0<MLMM\;<^$D$@D<]\1^@'G@
MDC)P,D$9P!Y^H'.3D#?&P0T%HP)`^YBBD@`9I\N3L,GVL$\\FUR+6-XK1>JM
M0%:^&K3=N,V\Y(\TG\W:VVV18#>\Z/V$'MD?:2>T#Z]*=HQKIJ-I_<6C]`TA
MU*U%O2F4'2&T;3J3SE'30Z!:_N*[2&A.RH;N6Y)&8=9;4E,VQ+N,K\3:E`7+
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MI0SG()V.=Q'L/?C?L=P`0#MQR,\#\)S'FTS^N5..P_HE3SMG_P!N,8[$XP-P
M01DC@"+E7H31@0I0TQ11YI-_8^6P;8_$!OWV(S<`1`F]4ZA4M`-6F[%:0?.3
ML2!;T>RV;6MD6O&[AMZ<?J%"HT_-*2J9G*539N84A(0E3\S(R[[RDH&R$EQQ
M1"1LD$`;"(7GMZ/;4]?_`$&=>/YQ'3?J%8ELZ;G0S3"^?N9<6E%IWC41<=S5
M2^I6L3(K%90J=,N^S0Z:EJ4S[F74TXIH`O.$S.;1_L6MS_$-%_S7*1K:OE5X
MS[5/OG]"[HAC_P#GFJ'&,_9C'.\:P=$],IU6U>).IR4M/2AI\ZYY/--(>:XT
M*9X%\#@*>)-R$DC%R.<6YK*=FI"A+F9.87+OB8E4AUL@*X5KLL7(."-XZX'R
MGGVO1_VX])^1_N?=/LCT/ZGR?+8COB.;?RGKVO*5H6K6#21Q*%)4IMSI_L`(
M<"5`EM1;2VX$K`\*BA:%A)5X%)4`H1]"1YG&`#SS_:YXS@DX[;8V&\50A;JT
MH;0XMQQ24(;;2IQQ:U_12A"$!2EK42`E"4J4L[`$G?:#[@]&[_<Q1,`7_@Z6
M%L#GP6',D\ADYBH!JG41.*M.7-A8*3@XY%.^>\8ODF))M!^57>U1I+@54E]-
M-TMAWQ*;K&C%2DO$V%A2FPY;M_4<H!0"VE?@6L)^D?$L!1O4T>^6$Z]TZMT]
M&OO2#I-=MLD(9J4UI!?%WV)<C846TJGI21O47Q0YQQI(==%/=G*8U,K\#(J,
MDGQ.B&\KZ#BVE?1<9)0ZTH>%UI1SA#S1"7&5X!PE:4D[D#DQ3L>,`@;9R!C`
MVX(Y'WQQP,@B/',]&NA9M!2O3LBV%)(XY7KI50O8`I5*NLV(OQ"^V+@[1VM:
MMU%+K!]DGED6)2\E#H.4BW"M%K$6N!RV`-C&XNZ$O:!=-/M%-'&-9.F^\5UF
M1DGI6EWQ9-=8:I.H6F5S3,H)S\S5]VXF8FC3IU3/O'*=5)":J5MW!+LO3=O5
MFIR[+ZV>W^JB_+DTLZ8>H[4ZS9F6DKOTXT&U?ORU9R<DF:C*2ER6AI]<-P4.
M9FJ?,?SO/2S%3ITJZ_)/_J,TTE3#OT%JC5S^P^ZV+KZ)_:'Z#7#*7!.4_2_6
M*]+8T0ULH1FUM42MV9J!6&K=H]:JDLN9EY54WI]==7IEW4FHO$/4YB6K4JTL
MRU5GV)C9S==1)Z(.L?N1TJ]0P)`Y4-)+O!P/B-HUEUOHI&C]42,BTM4S2Z@Z
MP_)*?X5.!HS*6IB5?(`2XMDD>>$I"VG&RH!96!;FGZ^:Y2'IE24M3<L%M3"4
M>CU@1Q)=;OD)6,\)N4J!%[6C74,?*>O:^*8EUKUDTF*G&)=:C^A^T]^DM;*%
MJ(`:P,J42`!W'A`XC]?YIY]KUS^?%I-Y8_0_:?9SG_\`5]MA]?.<Q'P8R)>5
MYS\TE@=LY/S=K;.>?MSVXW_7MN,8(`[^N^^1G?&1X>^-XVG&A-&6%]+T3.?>
M^7VN!_-]X[;B^1B*A7JG4(4K^%INW$18*2+>=86\W8<_E%L1()_FGGVO6^=8
MM)QY?L?M/L\X_N,'UXP`>\!\IY]KU_OQ:3]^>G[3W&.`=F^/QD8QVB/MMY_`
M\?';MD$@8WQMC)S%<8R?ON2`,<`C&<Y.!@`C8'&<[;/N#T9;.EZ*#WT^6`N+
M=K9W^?.W+Y^ZK4-LU:;&.:D"^/S;`]Q[XD$_S3S[7G;]>/2;?'^Y^T^V[;_J
M?'?/XMP)3?R</VEW5K[1NU^K>J=55WVI=DYI+<FC5.LA=KV#0+%3(REY4;4"
M<KS<\W00E%24_,6_3%2ZYD%4J&W4M'POJ`UK:<'SY)Y/&-\YP-\8VQR2>T3K
M/D;6?S#^T"_^673B<<\VWJS\.?MBONE#2FFJ7HJK3M.H=+DIQIRG!J9EI-EI
MYL.5*3;6$.(0E2>-M:T*`M=*B"+&)-I"O5B>KTK+3E0F'V%HF2II:@4*X)9U
M:"?-!NE0!\1>UH]#[=#VV_M".AGV@=U]/_3MJ+8-N:94K2O2BZ9.EW!I+:-W
MU)NLW72ZK-5E]=:K"#.N,S#\JR6I=:BU+)24M)`4HG#S_-/'M>_]^/2;XGI]
MT^Q]H;Y^.-]N3B/>_*C_`-]KOPXSC0K08[YP?Z!5T#/I]N_QB.R,`]\<\]P1
MMVVX.-L[X.Q`S.BM':5GM)Z>FYO3U)F9F8IDHZ^^](LN.O.*;25K6M2.)2U&
MY)-R;DWN+QX]0ZBK<K6ZBQ+U*999:F`EMM*DA*$\"#9(X3BY)SVD=\2G.C7Y
M1A[4_67J[Z6](K[U7TQJ%D:H]0VCVGMX2,EH98M+G9VU[OOZAT&NRLI4I1`F
MJ?,S%-GIAJ7GI8A^6=4E]D^-`B3;\H;Z_>I?V>G2OH]JGTP7/;EJWE>'4!3]
M/ZY.W-9=%O>3?MF8T_OBX'95BG5P&7E9DU.ATYT3K0]^&FW&00AU9C7B^SBS
M^F#]#/BY'5YT[G(\SJM:X/U#\8V/:)M7RO?]PET[_P#&TI&.W^U)JAW&?Q?9
M$.U;IK3\ITB:'ITM1Z<Q(3P>,Y*-2K2)>9X5KMUS:4A#M@`!Q#8"^+1FZ-6:
MH_I>OSCT\^Y-2Q3U#RE#C:NE!(0;`;DG;G$<_P#FGGVO7;6+28@8S^Q^T^'.
M<;EL#.>=\?@SR3\IY]KR2G.L>DVZD[?H?M/LX/._NQC?TSZ#F(^IW.V,';C=
M0!SOW)..=ADGXQR3@+23N2H$]]\C;MWSGMC!!S@Q;/W!Z,M\&*)>PQ['2]^^
MXZN]^S;&=KQ"?NIU%;WVF[[@<:0<;WNCM[`.6<QN)O9LZW:A=2/0;TFZ\:KU
M&GU?4C5C0ZQKXO6ITJD2E!IT]<-<IWSBHS,G1I`"3ILNZ[])N4E@&6ALV`-H
MO>C&1[&+;V5?0-_Q8-+_`,-'S&3>-(JTTVS6*LRRA+;353GVFFT`)0VVW-.H
M0A"1A*4I`2D#```$;`R*U.24FXM14M<K+K6H[J4II"E*/>223WPCKC6*XZK9
M^DNJ%VT)YF7K=KZ=WO<5'?F)=$TPS5*):]5J=.=>EG/U.8:;G)5EQQASZ#R$
MJ;7]%1CL>.F^HK]H#7'^!_4[_0>O1XI=(5,,)4`4J>:2H'((*T@@]Q&#'>X2
M&UD&Q"38]D:V%GY3W[7Q;#"U:QZ3E3DNPXLCI^T]^^6TA:S@-[#*CC.!@CX1
M^O\`-//M>O\`?CTG'_\`#]I]D>?_`+'G\'G]4?&7WE97(P?FDL3G/B/\[M@D
M'D;#!VW&=Q@Q^NPR"0".,`G&-AN2#N=MSN=QW(WI&A-&6^#%%]5/ESR3>_M>
MPOOOVY%CKRO56H`M0%5G``I0%E).`1_JGP^7G$@C^:>?:]_[\>DXWVST_:>\
M>?\`4R2/RP(?S3S[7KC\^/2?N?W/VGOGY^[([?$Y\L1'W&_&0=LY.YSOSC8@
MCXG'`.1#N=]\\C<`;\;\>8Q@#.=S'/W"Z+S_`-%Z);&#3Y?NSA!QG.Y[.=OG
M[JM0_P!:S?\`YT]VUDD;$FV2>4;8KV'G5YKCUO\`L\]/.H3J&KU$N/5"X;YU
MAH=4JMOVQ2[1IKM.L_4&L6_0FFZ)2`)%AV7IDFPT^\V/',N)+SI+BE$Q=?:C
M>W^]IATO>T#ZJ>G[1_5#3>C:9Z5ZE)MNS:75M%[+N&I25(-J6U52S.5JHH5.
MU%[YY4IM?OYDEPH6EL80A`C/A\F$_>AM(=L?KG]1&WI^>U<6/P1!L]N7C]-M
MZ[@<?MTHQSD'\P=E8)]/]7.^*0T-I^ASW21K.FSE*D9FGR9J7DDF_+-.2\OU
M=689;ZEI22EL(:4IM/"!9!*<18FH:K4972]%G)><>:FI@2G7/H(XW.LE5+7Q
M&Q'G+`42!N.R\76'Y3Q[7O?&L6DWH/T/^GP^L9;.<^GPQG>,E?L?_;S>TAZO
MO:,]-G3IKCJ7IU7M+-2:KJ!*792:)HY9UL52;9H&D]]793$RM<I:!/2"FJS0
MJ<^XJ7.7F&W)9S+;RXAE'<@\$$[9[DG\`^`.3GTC-+\GC'_=C.C$<XKNK/GS
M^<'JEGMOOW.PV`.>+2U/HO24KIK4$S+Z=H[#\O0ZH^P\U(L)=9>:DGEMN-J2
MBZ5MK2E2%"Q2;$7(B&4?4E=F*K2V'JI-+:>GY-MQLK3PK;<F6D.(5C*5))&#
M<A6UXVKY4?`E7<EO/_SE)!_`3&MGZB?E(_M7=.^H+7K3^U]6]+96V+"UMU=L
MFVY69T(L.>F):W[1U%N6W:)+3$\^U[Z<?8I5-E&7IM\EZ9<0IYTEQQ1.R6/]
M31\6?\M$:8CK!_=<=5>W^Z9Z@4[G!S^?%>@&VQ//<?';BF>A6B4BM3]=;JU-
MDZDAB4DELHG&&WTM*6^\E:D!P$)*D@`D9-A$^UY4I^FR<@Y(33LJMR9<0XIH
M@%:`UQ!*K@X!SC(.T9?_`.:>/:];9UCTFW[?H?M/MO,'#?;O@[?83-$]@E[1
M:_\`VC?15.:@:UUFWJOKOIGJG=VG&I4Q;U$E+9E:C+N)D;ML6NIMVGH33Z6W
M/VE7Y6F%$FI34S.T">F5^%]UU(U662,9P-B"0!\`#OG?D'<'[,2IODF_5,_I
M9URZA]-%8JS[%K=3VET[.4*F.3:6I)S531TS%STEU#+J2@SM1T_G;\E,MJ:<
M>3395M9=++"(L;I)T%0DZ1J,Y1J-3Y&=IO5U`.R4JVPXY+L*M-MK4VE)4VF7
M6Z^4Y`4R@FQ%XBFD]3U-VM2TM49]Z9EYL*82EU0(2\NQ94!P@7*TAO>X"]R3
M8RJ?;[];/4%T#="M-UTZ:;BH-L:BS&O6FUAO5*XK2I%YT]5M7)2KPFZM*"CU
MH*DTS#[U'D"U.@>_ETMN(;P'5&(7'\T]>UZ_WX])]^WZ'[3[;S!_4\9\L$\^
MF\I7Y6&0?9;48]CU5Z,;^GW"U#WWC6Q]SGR/KL!MC&`>#CC!W,8OHBTQIVKZ
M45-U2BTZ?F?92<:#\U*,OO=6AN6*4<:T*5P(XED)V!)[8]^MZW5:=5FV)*>?
MEF3*-N%MI20"LK6"JQ!-R`+YY8%]Y?WLN_;_`'M,>J'V@G2GT_:P:H:;UG3+
M574]=LWG3*1HO95O5*?I`L^ZZP&)2M4]OY[371.TJ2<^<2JDN^%M;1/@<6#L
M!4$J0@GDI23VW(!,:E7V&O[[?T'9Q^W8OCM^M[?F!G;.W8#;TV$;:EO^IM_X
M"?\`)$5]TR4BET;4-.EZ5(2E/8<H[;SC4FPAAM;IG)M!<4EL`*7PH2GBW(2.
M0B2:&J$[4:4Z]/3+DRZ)MUL+<(*@E+3!";@`6!4HBW:<[1CU]J]U,7YT>>SS
MZI.H_2ZH4FE:CZ::?,3EC5"N4N5KE,E+JKMTV]:M&?FJ/.D2M30S-5P.B2F`
MIEY:$AU*FPH&`BOY3O[7H+4!K'I,0%83CI^T^R?I$#.6_P"Y&2?CCD1*\^50
M7ZBT/937';OSE;+^J>O&B-C,M-E8,RW3:Y4M19YIWPJ2"Q\SL9Q2PKQ)6L(;
M4GZ0(UF_).P/]MD^ASN``<[\[CZ@#$YZ'=)T.JZ:FY^KTBGU!YRKOM,.3DJV
M\I$NU+R:>%"G$FR2\IX\((\Z]KF\1W7-=J<A5)>6I\Z[*H3*(6XEM0'$XMU=
MBH%)_$"0,W))M$@G^:>O:];_`*\>D_&1^Q\T_P#/&Y]WC^7;!'>O\T\>U[/&
ML>D^_'['W3[G?O[L#;OZ9WB/MD=L=\@C8;$C?GN-^?($8CCG)&`1@9/ED;;[
MD9_C[9,6S]P>C22/N8HHM_W=+=F+^U]QN0/6;WB%_=3J(_Z6G!_O)^3T>WL)
MQSR(V"GR=[VQ_6-[0;J6UTT6ZJ[SLRZY*V]#I/4VQ3;6GMLV(_(3U&OZB6Q<
M;4PJAI2_543LE=M(<;;?RW)&06X@!4RJ)>D:O?Y,MJ2C3_VM^C5'?J+E/DM5
MM.M:=,WTA2DMS\U,66[>M&D7DH.'$KJMDL.,E8*4S"&R!XO"1M!P<@$<$`_;
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MVE)"2XJ8F4%9!!R4H2DVY`<[1(ZT[^5$>U(I-_V-5=1M2-+KET\IMY6O/7[;
MTKH=95(FJY9$K7)%Z[:5*56G)34*;-SMO(J3,K/21$U+3*FG6?U1(!V5EIW1
M0KWM>W+SM:IRU:MB[J%2+GMRL22O>2=6H%?I\O5J-4I5S`]Y+SU-G)::97PI
MMU)',:1E./[8>)('TDGA7BY!\PH9VYP0.!F-I3\G'ZI4=2WLN-%:55*PBIWQ
MTZOU?IVO!IV=$S4&92PG&GM.YF::4`^TS.Z956U$2KB@IIQ4A,M-NJ<EWD-^
M#IFT;2J73:75Z)396GMLS2Y.>1),(90XF9;#DLZZEM(%VW&'&N,VR^E)_%CT
M:$U!.S\U.R-1FG)ESJD/RZGB"H<!*74)L!>Z5)61;\4D8O&%CVY'MO?:%]#O
MM";]Z?>GG4:P;<TOH6G&DEQTVE5_22T;NJ;-5NRVYBI5QYVMUA!GGFGYI"7&
M6%J+<L@>[:`&<XA3\IZ]KSG'Y\>DY^'3]IZ0#Y']3[?QB/,^5!`?IN>JAYQH
MYH!R?*S)KC`.,YP3\/A$>OX#&<G<I&0=@<XV]1N<8\ABP]&Z-TI.:4T]-S>G
MJ3,3,Q2))Y]]V1EUNO.K8;4M;BU(*E*4HDJ43<DW)WM&M0:BK<K6JC+L5.9:
M9:F5I;;2I(2A(X;)%T[9MS.=^<;-/Y.E[1?JG]HGHUU)7EU2W9;%V5[3C5VU
M+1M28MFQJ%8[$G1*KI_*U^=EYJ5H24LS[SE3<6\B9F,NMMJ]RD^["0)&<0YO
MD>'[G#K+/GU!6&?_`/$TEOP/R':)4?4]K]9_2QT\ZS]1=^^-RT]&-.+KU#J\
MFR^B6FJNBW*4_.R=`D'W$.-M5*XJDF2H5-4XA38GZC+^,>',:UZ\IK,MKBL4
MRERC;#0G9:7E).5;2VV%O2TKPMM-I`2"MUPV``NI1/.+6T_-N/T"GSDV\7'%
MRG6OO.')X2LJ6HCD`-QR$6%^U$]L3TP^R[LZ0.HCTWJ5KA=DDY.:?:`674Z=
M+W?69%)>93=%V5*<]_*6#8*)UE4DJY:G*3L[4II+\K:U!N*:DJ@S)P6.JGY2
M;[4#J,K=1_,3JQ(]+MA/NMFF63H/2*=)56499\26W*CJ?<LA6+ZJ<\\E23.N
M4^<MZE.N)\4M1I1'T3B%ZH>I/53J^U[U.ZC-::Y,5S4/5.Y9NX*LMQYU<G1)
M#)EK>L^@LK*OF5M6;1&Y*W+?I[02W+T^12X4JF)F9>=Z#&^R=N<#CSSMD9_C
M`[`1LCH[HKT_0))AZJ24M5ZPMM"YIZ<;3,2TNXH)4IJ3EW0ID(:)X0^MLS#A
MNL+;20TBJ*]K.I5"8<;D9AV2D4+*6@R2VZZD&W&\XD\5E[]6%!"4X(/G$WBU
MOVA_7S<=2-7K76QU8U"HJ<]X)MSJ"U3845^,.^)+4G<\K+IRX$K\*6`@8"0@
M).([YTK]M%[4_1JI2-1M'KDUXJ:)!04W2-1;CE-6+>=&`%-3-$U+IMTRKS12
MD#P@MK2<E#B%%1/3'2_[.;K<ZS[4O.^.F+ISOS5ZT+`FE4^YKAH7W!IU*9K+
M<BW4W+=I,S<E9HJ;EN5NGO2LZ];UN_=2JL,3M/5,2S2JA()F+-JG3:C1JE4:
M/6*?.TFKTB?G*95J34Y28D*G2JI3IIV2J%.J,A.-LS4E/R,ZP]*3LG,M-S$K
M,LNR[R$.-K2)I[':5J"YBG"1H,ZN4X$3<D):GO+E0ZE);#\N$*4QU@!*0M""
MH`E.UQ@/+:Y*AJ;,S4F43-U-3"G9A"'BCA!+;BB$K*3OPDV-^>(G:^S7^59T
M&_+CMG1_VB5GVWIM/59Z2HU/ZEM/434GIXB?=0EAF9U7L:<?GIVR92<F0!.7
MA:U1JUMR#\TV_5;?MJAR\W5I:9I2:M2Z]2Z;7*)49"L4:L2$G5*35J7.2U1I
ME4IE0EVYN0J-.J$FX]*3TA/2CS,U)SDJ\[+34LZT^PXXTXA9TA6<`$;$'(WS
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M]J9EU*UCTG\2Y=A:B.GW3X#Q+:0M1Q[K8$J.P``X';.RPUQ_:7U;_@QU`X[?
MTHUF-*++^$2\L#_[5EB,')W9;V5QC&",[YSG`CS]"E`HM;:U":O2Y*I&6<IH
M8,W+-3"F@ZF=ZSJ^L2KA"RA'%;?A'9'=KZJU&FFF^03;TKUHFNMZDCS^#J.`
MD$'*>-5NXG!N+2#_`.:>?:]'/Z\6D^W/['[3[U.^6^<?]F\2;ODX?M1>L+VC
ME4ZNI7JIO.T;L9TCDM$7[(3:^GMO6*J1<O9_5!NX#.JH24FIB93:]($N)G(E
M"R\6?]D.9UP_.=\#?&#OY;9&#Y$]\'.^,S;OD;6/NY[0;!!_H9TRC[)O7+\L
M]]XF_29I/3-,T369ZGT&ER<XS[']3,2TFRT\UUE4D6G.!Q"`I/$VXXA0"LH4
M0K!(,?TE7ZS/5Z1EINHS#[#@F2MI:@4JX)1Y:0JR1E*P%#(R!WQ.9B,!\HY]
MJKU0>SF3TF4'I4O*T;6N?5=_6"L7X+GL:@WRIZW;.9L.0MT2DK74ENG)<J]Q
M593LS+D.S!E4LJ^@@YD_QKMOE=VH,O7^N_0'3R5FE.C3OIAE:I/RI6HMRM2U
M$U)NR;"TH&$H<>IEJTXJ4`5K;0WXOHH1%'=%U(E*UK.FRD_+-3DDAF>F)B7?
M;2ZRXEN4>0WUB%@I*4ON-+%QZ:4Q8>K9YZGT*;F)9XL3'$PVRZDV4E2WD<7#
MWJ;"T]P)/*+2Q\IY]KSVUBTFS@DXZ?M/AWQG^I[XV^T9S#^:>?:]<_GQZ38[
M9Z?M/M\9_P#S?PVSD>>-Q'V\OL[X(&!Y9!Q@GDY]0,TSV.VYR<8^WO@';SVS
MOL8VN^X/1O\`^&*)R_T=+CQW;%OGMS`L2*9^ZG4/];3?K4+#;F4#O\+Y$2"O
MYIY]KUWUCTF[?[G_`$^^'_BSSW'/D!$W?V&'6[JOU^^S^LS7+7*J42MZM2>H
MFJ>G]ZU>WZ!)6O3)^:M6YU/T1YJA4U*9"GN)M6LT)EY,J/=ON,JFE_JS[H&I
M_)R<<G/?&0=A@8X&Y.Y[Q/X^1ZZIS=;Z:>KO1J8F"N6TYUQLR_J:RKP`-2^J
M]B.4R<#0\?C(-2TT>==_4TH0I]&%*4XH)K/I9T?0*?I!VH4FBTZGS$G/R2W7
MY25;8=5+O*,J6U*;2DE"G9AI12<%24JP0!$MT5J"ISM9\EGYY^9;>EGNK0ZI
M)2'$!#O$!P@\7`E8'.Q.+'$PZ(GWRC#VKO6C[.G57IAM7I9O:SK4HNIVGNI-
MPW>S<^G%MWP].52W+HMBF4EV4F:ZE3E/:8DZG.(=9ER&WUK2X[E3:,2P8@/?
M+%OV^>B$>>D.LWE_Y<V0?(YWY`Y&?**;Z+Z?)536E+DJC*R\[*.M5`N2\RVE
MYE9;D)EQ!4VL%)*%H2M-QA0!$3G5LW,R5"G)F4>6P^WU/`X@V4GBF&D&QL=T
MJ(.#@G$8XA\IX]KY_OQ:3=^>G[3X#/K^IY'?;D[8YCRY#Y3I[7=^>D6'-8=*
M%(?GI-EQ(Z?M/TDMO3;33B00T""I"E@%)!SN""`1'K'GD!1./@",#L"`-\`*
M`XSN=O/I7]=*;D;FITX9((/^S9?OGU/ER#@B-KEZ$T:$J(TS1/1N/X/E]\9O
MU8N+]ASX13(U3J$D`U:;R1^.FYR!;*,YYBQR+#(ONX;?G'ZA0J-/S2DKF9VD
MTV;?4E`;2IZ9DF'G5)0G(0E3CBB$C9((2-A'MX^>M+^Q:V_\047_`#9*Q]#&
MB:A92@-@HCYXV)2;I23S`/S1KHOE;ND;UH=?.C6JK3:ON9J_TU4:F+?+00VN
MO:4WK<E(J+06%J+KC=&NJVG%Y2GP-NM)'BW,15@-B"3G?RX!W/PSQL1SL3$\
M'Y8QIPS.Z4]$>KK;3@?MO4K5O3.:>2`6S+7Q9]OW?)I<4$92M$SIW,I9!7A1
M?<\*2HY$#XXQV]#G<$]RD9&-NQSC;G>-U^BJ=5.Z$H1425R[<S)JL#YHE9QY
MIH$V`PPEHWO?-A@10&M9?R?4<\`+)>+$P"#OUC+96>[SPM(%[V`MSCW-NUR:
MM>OT&YI%:43UMURCW')+(R$3=`J<I5Y5:O"0HA+\DVHA)!\(5@YC:L>W!U`:
MD_8S=9%XR\TRTFZM"*'3)-Q#I:$Q^>1<ME4)#4N4D*6J88K[H;;&?>)/A7]`
MJC5%.I\;$P@<KEYA'._TF5H3\0"0/4X&.(V('MC]57Z]\FPT3N5=0$U-ZO:9
M=`\I.S3JA[V>FZK*6%=57&4^)*GU.T"<=>&V`V[D`IQ$:Z4)`3.H^C90&/NB
M\F<)%[I<FJ6]8X.`EAPV-\$GMC,:,F2S2]3HN21(%U*22!Q(9?1?<6XBX@=I
M"0;GGKQG/ZHO''C5^/&#MGP[C89S@`<QP4`>1C?8]^P)(P/OL8().P)YP(<G
M;;TQC.-MB=P,^6,`#.-R*<G8').,#D@D_$X&=\`CD]][HV`WO;-MQ@<CX=][
M';-J\'+ML+VQO:V+?Y8(.-M@!\CTT_%+Z7>KS5$MN)<O?J"M.R`XK(;=E=-M
M,Z?5VRVGP@?0G-2IY"E`GQ$!)P48BQ3Y8?\`NC>B_G]I'57C^$.W_0[8SS^.
M,YOR7.PUV=[)C3NMN2IEG=3M8=<K^6M25)5-,HO-5C4^8^DE/T54ZRY9MLI\
M22A`4%948P9_+#_W1W1?R?UD=5-ASC\\2WLX[\<QK'09KRSIRJ#U[\,W6)8&
M_*2IKTF/4!+@6[,1<539\GZ/Y=N^TG)+OPVOUS[+U[;YZR^USO;,0Z=@"/K\
M]^3C.,=AY?@QY],R:E3LY&:C(>8R?GK&=L'[0,#&-S'@XQD]AN.Q(\QW&.=A
MZ><>;2]JG3L<BH2./+!G)?(QCGC)&,XR,1LRYE"\"_`3_P#*+@=EA;MP3D9B
MH6K=:WV\:;_*F_AR)O?L&8W:]H_V+6Y_B&B_YKE(UM7RJ_(]JF./W+NB/V?=
MO5$'._QQC\<;)6T?[%K<_P`0T7_-<I&MI^58?OJ:<[_L7=$-L<?T<U1W^/EQ
MP(U$Z%A_TX`Y>QE0'_S,#LM\T7EKT7TXY^DR?;_.>OY\1&QQR,CD8_!^6PSC
M&,@DQ>E[-Y*7/:%]"J5)"D*ZO^G-*T*"5H4DZKVJ"E25@A22"04J"DGC&"8L
MM4,'<#<8QP<Y&^1G&>1@$@_1`Q@B]/V;>![0WH3SVZO^G,9)V)&K-K8.<[C'
MGC@=^-K:OFDU.V?X.G-MOP9=]L_*,?):E:?8STE;^E2XY<W6[["^+#<8OMRB
M:!\K3Z:-'$]&VDW4C2[$MBAZO6QU&6S8+MY46@TFE5NOV9J#:%\S-5H-Q5*0
MDY>>KDI*5FUZ'5J2BIOS/W*F43ZY(L_=&;#VOMV'`V.1C!\]P.1G.3WP>=]H
MV-7RMZZZ)3?9Q:76G-3\LU7[LZM=/9BBTQ;R$SL[)VO8.J-1K<[+RQ/O7I:G
M)G*<W./(0IN774)-+JDF8:"M<I^#&^3L.3OG?X8!.#S%<="[C[NB9?KUNN);
MJ4\VQUBB0ED*;/"@JO[6EU3@`&`HJ2+'$2O7Z&TU]7`$I*I:74YPV%UD&Q6/
MRB`,[D6O@Q^LO4)FCO-5:1=<EIVDN(JLE,,N*;?EYRF.)GY5UI:2%MNLORZ'
M6UH(4E2$E&%"-TG+V_0]?^G--J7RW.3UM:U:*MV[=[4K/S,C/SE"U(L%NG7`
MW+5)DHFY.<F)"M3B6IYDIF)=]:9ALI=0,:6MB0F:J\W2Y)E<Q.5-;=+E&&DE
M;K\U4G$R,LPTVD%2W'9A]IM"0"I:UI"`5"-V-I;0G[7TUT_MJ9;6U,6]9%HT
M-]MQ*DN-O4BW:93W4+2OZ:5H<EE)4%?2"@0K?,0WI]6E`THXA7"^ERK+2I)(
M6@)%,((-[BR^$I/)0-C@Q(.C4715TD**#Y(%`Y020_C-[FQ4#8G&#RC`FCY+
M=[))M#;:=-M9/"VA#:?V0&HF?"V@(3G^>QD^%(!/>(BGRA/V??39[.GJET7T
MGZ9*%=%OV?>W3ZUJ'<$K==YUR]YUZYG-2;SMDS$M4:ZZ],RDK]R:)(-_,F5)
M8]^A;WA#KJU*VB<:\;Y7Y^[OZ:ML_L1I8[<_MT:D[';&.^.=M@3B([T4ZGU%
M5-92<G4JY5)Z57*3ZER\U//OLJ4W+J4A1;<<4@J0H`I)&#F\9;6E+ILO09AZ
M7D)1EY+K'"ZS+,H<%U@&RTH!%^>1<[Q$QR<#?;;'!.#@_@QWW[=]ONM+Z#3;
MIU,TWMBL-.NT>Y=0K%MZK-,/N2K[U+KUVT>D5%#,PW^J2SSLE.OH:?;_`%1E
MQ274?22(^&(/.>>!R,@8S\<[*V]0#DQVCH:<:VZ-#<9U=TL\L8&H%MG/F20?
MXAS&TLRHHEIA23PJ2RXH*3CA(1<'B&Q&2".?9B*:E`%3,L"`I*WV@H$`@@N(
M!"B!8WSN+&Y$;([^9<O9)DJ(TUUC`\:\`=0&HH``6<`9G5'8`<J4?,GDY(.@
MCV8W2C[-JG:H4OI<MR\+>E-7ZA:E3O5-VW[<-\KFYJRY2MR5"5(N5YYU5-0R
MQ<%2$PB5\(FE.-*>R6&\9!4\'_"7_EJCE&A$]JG4E3EG).H5VJSLHZ4%V6FI
MZ8>8<+:TN-E;;CBD*X'$)6FX-E)"AD"-E&*7399T/2TA)L/)N$NM2S3;B>(%
M*K+2@*%TDI-CD$@X,:Q[Y4=^^UWY_`7H+M_]1USGT)&/C]D1V2#M@D<YV)SS
MMSL.<C;8=LQ(E^5'Y_3:[\`[Z%:#;>8^X5>SVWSC`'<[1':X.22>-^>/+SWV
M/&PV.Q$;G]'_`,"],]OL1)[`WMU21V$'EOM;OBA-4_"&J_I/+O::[K?/>XL+
M[1>?[.$_]T(Z&1G(_1==.N#GM^>K;&-CCSR"<\')SO$VKY7O^X2Z=_\`C:4C
MS[:2:H?EYG@<Q"4]G$0?:$=#._\`NN^G7!&0"!JK;&<]]\=N00>^!-K^5[_N
M$NG?_C:4C'_V2:GQ!=:"_2AT=BW)_<?ZZ]QMCY,1(J!\#=3>*/[C?<+1KQL8
MR0"=\[@$G;;.=N-SMC8<`QR2`%)VSA:><\[';8CSW&0,[]C%`1@<C)).YVWY
M3SQCGG?&VXCDG[]'`^DD@C&/OD\[;G;?&3Y`1=-\YMG%]B;6!((&>=OG&PBO
M+V-[CGDVN;6'+?8VMW1MS?8Q_O5?0-_Q8-+_`/,_Y?QQDWC&1[&+]ZKZ!O\`
MBP:7\_XG_+'I&3>/SYK_`+^UK^UJC^N/1L_3O>^1_0Y7ZA$(Z;ZBOV@-<?X'
M]3O]!Z]'<D=-]17[0&N/\#^IW^@]>CP2OX3+_'L_6)CT.^Y+_-,:5>7.):3S
MC:6EA@<;,-Y.#QG;&3@GGRC]L\\#D'.Q/P&^Y&<XV'XOPE]Y:5W&?FDJ!@9Q
M_.[>V^3SSC/PS'[@^8X&VV4C.^YY[[9WY[\?HH+!()%R0#8]A`O?%L'U9!.;
M1JXY;C6=[K42#:Q/%O;Q^GGB),'R='V8/29[22J=6DGU1VU>-PM:12&C$Q9(
MM._[BL54FY>TQJ0W7_GQH+S1J0?3;-+$N)HK$I[M_P!RD&96L2@/YEQ]DG_O
M;:R?\X#43_\`ZXQ$_(W=J][0$[G^A736-@2!_/>M&!L#SG([D9/8F)S7B'DK
M_D+_`/\`6-2NDW56I:;K:LR5/KU5DY1D4_JI:6GIAEEOK*7).N<#:%I2DK<6
MM:K#SEJ4HW*B3=VD*53)C3M.>F)"2F'5B9XG799EQQ=IM\#B6I!4;!*0+DV`
M`&!%K?2!T?:)]"VA-%Z=^GVDUVBZ9VW5KKKU+D+CN:J7=56ZC>-;F[BK:W:W
M6'')Y]IVISC[C#+BBB6:*66L(2(U?GMR_P!]MZ[L[YUJ1@9_X!V6,_@P!\8V
MTSG]37_@*_R3&I9]N7^^V]=^V<ZU(`V_X!V7G!&^>_EL8R'0?,/S>K*Y,S+S
MC\Q,4AYY]]U96\\ZY49);CBUJ)4MQ:B5*4HDJ4;FY,>3I$0ANB23;:`AM$ZV
ME"&P$I2E+#H"4I%@$@"P`M8;1BCP<>G/?@9P,[<\]MR?3.:/Y/%^_%]&&1D_
M=S5G??`_6$U3X\ML<XR#\,X6^Y&-\X(3P>V?7;G<'D;G,9I/D\0Q[8KHQ]*[
MJSG<YWT$U2&X^S.2<;]]HV$U??[E-39Q[`5>V+7_`(.F.?9L+YS;QBK:%[]T
MC./92GVQ_M;/RC87S?Z=JZ?ZFCXL_P"6B-,3U@G/5QU5C)&>IKJ"QMGG6&],
M]NWEW.#&YV/]31\6?\M$:8GK!WZN>JO_`(S/4$0.>-8;T/PQ@GO@[^D4-T!>
M^6HNZ2D#SQ]\/]@/+_&+,Z2OP"F_ICGU7VSRBW38]U<8/XL9QL#GS\]N,7#=
M)/4%6^E'J=T%ZE+>0_,5'1+52SM0G:>P\Y+*K%%HE59-SV^X\TI*A+W#:SU9
MH<TCQ>!V7J#C2PXVM23;SO@YX/EL,C/&-NWIDX[#,!A)&0"#CQ)([$?22>-E
M`D$#@'X&-E9F7:FY9^5?0'&)EEV7>;.SC3K?5N(.QLI*E))![A<VBHV'G)=Y
MEYH\+C#K;J%`B_&VI*D[[V4!<VY6MF-CW\J5NJ@WS[(O3^]K5J,O5[8N_J,Z
M?[JMNK2CB')6J4&X;/ONL4>H2SK:EMNR\[3IR6F&7&UJ0MMQ*TJ*3DZX/C`[
M<[;$9QZ;<9'X]XE>=1'56>ISY+IH-2*O4'9V]^FWJ[TLZ;[I7.3S4S.OR-B6
MU>T_I]42T/U=J4?TXKMKTV7+Z?IS%&GT-K=2P5&*'G(*1G`)QD;;@X!]3VQG
M&_D(KCHKICM&H54I3]^LI^I:K+%1%BM+7DR6W1W.M\+B>U*@1FT2_6TTB=GY
M"<;(4B9I4J\+;#C+A4+VW2HE)&]P1&5SV&Q'Z;?T'#(S^?:X"0<DXT\OPCMG
M;SSQC'D=M0W_`%-O_`3_`)(C4K^PUS^FW]!N^?U[7.`-S^=[?9WQQSZ;[=L1
MMJ&_ZFW_`("?\D13_3OC4]+O_4;7Z]/?;]@VB<='7O*]V^7/7WW+4OVYMV;;
M1#6^6(ZELR&A?1EHZA]/SB[-8=1-3)F7`45B4T]L1FUI5Y2@H("53>I+J4H4
ME14ML*24>[.8$F-N.`>^<[XSQG;![@>?D9<?ROZ_F*OUD]+FFK+JUKL7INK=
MUS2/_8VIC4K4RIR;('TL*<,KITE2A@*"5M[D*B([MMC.PRK)P.#MG@#D^<7/
MT3R@E-!T46LN9$Y-N7L">OG7R@[@\)9#8SV`BT0'6[X>U'.V((92PS@C!0RG
MB!VSQE6_=V7C[*R;#N34.?KU.MF41/3=MV-?.HM605*;]S:^G=MSMUW1.^()
M4"9*C4Z9F$H(2%J2$%Q'B\4?&X`^CL#OGC)."<Y.V,8SW'.(R_\`L=-%9G66
M^NO+YM*)G%61[*_KGK<NR5*!55KCT]D+&I#:"$J"G7)FX'`D9!`!6@DH*8P_
M(7[Q"7!MXT(<'&"'&TK!&3N3D$$`>L3*6J`F:E5)!/"?8]JGJ-O2XYQ#KEE#
M8`);1PV%]\F,`_*!J1D)H<1,T9GBXL('4.(0@)MB]BI2@.U.8OD]F9J4SI![
M0[HCU&FIDR5.MKJAT:55YE*PA**%7+RIML5P*42A*67*17)UMXJ(2$+45Y2"
M(W$2<8VX!*?^22G^*-(C0:[-6I7:-=,AXA/6Q6:3<TEA80H3ENU*5K<KA>%>
M[/SBGMD*"5!.RO"?#@[K_3RZY>^["LJ]Y0($I>-I6U=4L&UA;?N+CHDA6FO=
MK``6CP3P\*ALI.%#`.!KUT^2?!.:<GP/=I6>E%J_1W)=]`///E3AOM@VBT.C
M5_BDZE+DFZ'V7@+8LZVI*B#VW;%^>1RVPM?*3/WG3JIVS_/VB'U?K[Z<[\$_
M9&K/4-\YX.0<[_VP(^'U8SMD8.=IA\I,_>=.JD]Q/Z'X^/Y_&G'Y;QJSSG)[
M#.0<CG&^V4G(_P#NC<YWB7]!/P2J'_Y@FN_^04L;=IO;P)C`](_OW*_V8SV9
M^^IOMWWMCZ;"*'!`W.`0<?`C&WX>1Y`[&)<'R1SJA;L#JPUTZ6*Y54RM'Z@=
M-)*_+-DIAUM+<SJ/HY-/JGY*1:<PXN?K.GMS5F==2T?$J4LTJ4VL-`HB/C`\
MS@D`\#).1CO@9!.PP3NH[Q=1T/=1<_TD=7_3AU)2"G0C1_5VSKKKC+(3[R?L
MQ51%'OVF)\92A)JMC56X:<%%0#:IE#H*2@*%B:QHHU!IBL4H)*G)B3=5+W`_
M#)<IF)2W9>9:;"CO92M\Q&-/U`TVL2,WQ$(0^E#YO8%EWVIX9QA"BK.+@'M(
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M6VXC<+;4I*@4DB,8_P`CO_<W]91\^H*Q"?3]::1&,]SMYF+]?E1JE#V2.IH"
MB`K6+I\"@"0%`:E4]0"@#N`I*58.1XDI/(!&N%90EWIJ;0L<23JBB<23SX?8
M\\N\?;:+8D5%.A4D$@^PLP+C!%VW4FV,;]A([SOK'BK*O%OE2E'(![D@@<9W
MXQC&?6*`>+&`<D\'X@8R=B!][@'/?.X$4`QP2=R?+`P!QGG`WX!/'$51]\D#
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M35:$ITA0+`>:S3[$[CBDT7/*Y)WS<[FYWQF9/D!QSN<]\[D'U&#C)\XDE_)5
M;\J%J>U0E[9E70F3U.Z<M9+7J3:E*'O$6_,6??DEX4CZ*EHFK9*@%9"6U.8^
MD=XV8'GG`![\8."<;[<Y_NAOG$9]/DR[A;]L-T_-Y7_/.GW4,P<'"3^M#<#Y
M#@S]).9<$`C[\)5OX<BV->MH=T9J=*@%`46><`P1Q-,*=2>>4J;"AG!'AQ0?
M3"N#4%((5O.LHP?RCP$<SF^>5CGMC9@:X_M+ZM[$_K8Z@<?_`"0K/_9&E%8Q
M\VEAD`B5ELIVR`&&SY;8'."=B2<8C==ZX_M+ZM_P8Z@9_P#Z1K/V1I1F/]C2
MQ.Q,K+;`Y*C[AO`[>F,[\<DB*CZ`/<=3_'4CG;\6?^4<]N0VB;=)>](\9O8_
MHV_=SQ_B8_7;/.QYSCN>^#GL-\CC?8C$VSY&U_7OV@O?^AG3+\=YK7$X/P&(
MA)'`QL>V^1G&^<G;(_R3D`=HFV_(VOZ]^T%_Q9TR?_BM<?R/PBPNEO&@*]OG
MV,-SD>^]/M;Y@3>U['E$8T1\):=WB:M>V_D4QM;[=F(G,J.`3Y`G[!F-6Q\I
M/U"-^>U]ZC9)!"I73>VM%]-)-272X`FDZ7T"ZIX'(`:6FKWG4TJ0@$)*,J)4
MM>-I,L@)WX)2G_EJ"?XXT[WM,M3G-8_:&];.I#KA=;N'J;U@EY!1=4^E-'MF
M\:C9U%90XL`EEJDV[)-LIP`AM*6@?"D$TUT$2A=U+5)PBZ92CJ:!SYKDU.2Q
M201L2B7=3L<$\XGO2,_U='EF`2"_/()`_&0TVLE).X\Y:%8YIMC$6.#D;]]B
M!R3SN<'OYY&V(^T_,%<8TY&JAE$BSUW\K39N?)45.70W:PO)V20CP%(0S0W9
M>9<45`A4RV$I4/&I/Q9!]`",;9SDG@$'&3@@`<9P3Q&7FX](_N5[";3#5]+`
M5,71[4S4>1>F2VGWC=)IG3)3+4IS2'1E2F7*M0JHIQ*\%+J4E`/B.-EZE4!(
M*IH/"3/5*7IXXMKO-O.XR!Q$-&P))OL+D`5-3Y-,V)Y2@KAE9!^9'#8CC;*`
MCB`!P2LW`\20(Q#;G@XVV[YX.!N>V,')QN=LD1+K^2`ZDIHO5[U3Z4/U(2[-
M_P#3W;MY25-6L@5"IZ9ZBRE/==;1C"W92E:@S*E*/A\+*UC))Q$1/&!Z\8VW
M*D^A/XSD;=HSQ_)L-5)73#VN.@$G/O+9I^J]K:M:0O*!("IRX;(F[EHK:MPD
M^]KMETYE/B\0RZ/"DN!.,!TAR?EVBM1L)'$4TUZ92`+DJD2W.@#>YO+@@;C8
M&]@,AI1\2^H:6LD`+F4LDD;=>.IP;W\[C`S<`*-S86&TDB`_\L5/Z_'1$/\`
MT0ZS'C/%\63]GQ_%$]])\20H<$`CZQF(#_RQ7]OCHB'_`*(=9C]E\61G^7<$
M#>-8^B'X?4?XJI?^VS7;MX\MXM[6WP<G^?X/?P\J8B&SVS@\C`*2-R=\<YV'
M?Z\8CV%*!^Z=-SQ]TJ;G!W(^>R^,@<9'XN<QZ_(VSC!'`Y'?;/UX[XSN008\
M^E#^BE,SG/W2IO.XVG9?L>Q[XP#OMY;G+'F*S8D*MSWX;>-K9[3V[Q0:0.)/
MB-\\TYWS:V=_7L=VO:7]BUM_X@HO^;)6/H8^>M+^Q:V_\047_-DK'T,?G.OT
MU?G*^DQM.G8>`^B(W_RI_3=Z]O947%=$M)?.7-(M=-%]0'YA*"I<E3JA6*EI
MQ4'@H'"&UB^I5IU2\IP4\*\)&LZW'P.1MMCS'KL/K/!SF-NK[9#2&8UR]EWU
MP:>23?OI]_0*[[PIC6&RIVJZ7_--3Z8TCWB5`+<G+/:;2I(+B2LEK]4"8U%'
MC2YX74_>N)#R/@X`I)`SL?"H9&<9R",XC:SH*G`]IBHR95=4G6'%\&YZJ:EI
M5;>,^DZV_:PS8]I,4UTCR_#59-\"R7I,))MNMIU=[G\U2+7S@XL<\F\>-/B)
M(*DDY&V/%G?/.VW\1SO+D]H!K&]=/R7KV7%/3,>)^MZOVI8M02ZY[U];.BU'
MZ@*"T$J*ED!MRW:8LH41X$+;;\(`2!$:&2.,XP?K!VXP3L,8_B`C-CU)ZJJJ
MWL*O9EZ8!;:A1NK/K:<?0)@*=2+4G*94I0J8*BI*2WK&XA!\*4)"!X0?>$F>
M:KD?+*CHQ93Q*EM4MNC`-D(I-5>4>[SF6U)&]P""#DQZA3"F9342>+A#E(4F
MX)OQ>52J$@"_XP<6".S&023A-R0>^2?I`^7!SQ]0'GL1N8KD((6?O4#WBM\_
M11NK.QV^B=^-^T4&!D[8WR23D9S@9V&>X'!&1W&/)DZ9-5J9E:-(I4N>K,Q+
MT>11@_2G*LZBG2B24I*@5S,TT`$@GZ6P*B(F*B$)*B>'A%RH[63N3FP`[^6^
M\1]*.)2$C=2DI\T7)N0,`'/<,GD-XV[/L>=.QI9[+OH1L_YLY*.HZ:-,KFG9
M=T*#C=4OZBHOVK%:5I2I!74KFFG/=J2"WXO`<^',1,OEA_[HWHO]-$=5#W[:
MB6\>1\/JYS$Z_2.SQI[I7IK826T-(LBP++M!#38`::3;5LTNBAMM(`"4(,B4
MI2````,#B(*'RP_'Z([HOSQ^<CJIGS_;$M_!^`^O)^N-/^C"9,YTG,SFYFG:
MY,[WN7Y:<=WYW*M^<7GJUKJ=*.LD^Y,R35[6OU;LNG8;7MMRB'6?M&!P<$[;
M#`/<D=\[9'G'FTS^N=.&W]<)#ZOY]8]<8R#OOD$G<QX(QDD<'&XP,C?/J<92
M-R>1V&8\^F?USIN!L:C(9VQN)V7`Y!V`V/?)Y.T;?.>YK&QX#C._#O;;P%CG
M)P#%&->Z-_GHWOG*3ZC;-NW/(QNUK1_L6MS_`!#1?\URD:VGY5CM[5('_P""
M[HAW'_N[JB.Y_+?UC9+6C_8M;G^(:+_FN4C6T_*K_P!]3`YSTNZ(9'_UYJC]
M@VR?XLQJ)T+?#GE[V5#Y.-C;O_SB\M>_!MW](D[^'6#L(^V(C8X&!Y9(WX.`
M=\'MW).=\CPF/I++O*Z=.[NM:_K%N"I6K>MDW#2+KM&YZ+,&4K-O7+;]18JE
M$K=)F2E9EZC2JC+2\[)S`;5[J890L).`(^;.WTM@,';C;OM\3W(.,D>4??:3
MZ9W9K3J?ISH_8$G)U"^=4[XM;3NS9*H5&7I-/G;IO*M2=OT*5GJM.%,I3969
MJ4]+LOSTTH2\JVI3[Q"$JQMR\60PZM_@#"6UE_K+=4&@DESK`KS2C@OQ\0X>
M'BO<`"*-:"U.(ZHJ+I<0&^#"BLJ3P<)%CQ$\.V;]M@!]AKCU+]0W4S<$I<_4
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M0'P?*.`A)4?;?2NGT+DH-TY`&)%?L5_8@=5O45U.Z*:YZXZ,7AI!TM:5WW;.
MJ%?KFJE"G+.JVJ#MGS[5RVU9MBV?<$I+W#7J57KAIU*:N2X9BER=M2=NHJK$
MO4YRKORTC&R^`P,'G<G'&2<G'IDG&\0"/8;_`"A77VCZY:==)77/J%/:OZ7Z
MKU^E6'8&MU\SC;^I&F-[UE;=,M&FWE=3B6G;XL2YJRN3H,S5KF7,W3;=6JDG
M5IBX:G1C/2DI/W!R,\>FV01L0<9&0=C@D>L:D]+CVIG-1,HU"S*LMM2I%*$@
MIQR3<E%.$K=2Z\`ZN8+@"9@+0V4\#82V&BVM=W:*;HZ*454E;J^-W[[,QPA]
M+P0D!*TH\U*`BQ;*;A0)-R;A-8UXOROW'Z._IK.`2.D66QG^&C4D'S'X/7?&
M(V'4:\7Y7Y^[OZ:^?W(LL>_;6C4G8_;G;?S(V,<=#7PZD?T*H_JJHYUS\'9K
MXV7^L$1,L9!],\#/?ON"0,`YP-\\'`CM/0T?KVZ-'DC5W2W8[@#\\"W!CMCN
M0.=AN8ZLX3O@G@`8\\[#?)5DG.<8[C<1VEH:/U[-&3N,ZO:6YW)!)O\`MP[X
MV]1SOG/,;@3@O*3.;W8>&;7MU?<1?89^F]XHV3_"Y8YS,,_6(':;[;_)C)W6
M:>#_`(2_\M4<HXIX/^$O_+5'*/SKC:&-8[\J/_?:[\&,YT*T&VP3C-#KH^&?
M*([8QVYW&_?(.Y\AQG&^,[Q(D^5'G_NM=][_`.T5H,0/3[AUW??@]AZ\#,1V
MAR1W(.!Y#<@[[X/;!!SG?O&]N@/@5IK^QY,]NS:+X/=:WKYQKIJKX0U8=DSM
MX-MW.>S'9SYYB]'V<>/TPGH9QMCJ[Z=@#G8?KK6QR//.?J^$3:/E>^?T"73O
MSC]%K2,XQ_O1ZHXY]8A+>SBR?:$=#)\^KKIVV['&JUL`;=OJWB;1\KX_<)=.
MWD>K2D9]!^=)JA]7VQ!-:?\`6AT=V.>%^W.UG'.R_/8?\HD6G_@;J;M!0/#S
M&_MC'KC7C^1&-QWY.`-MLXQ@@=SG8GF.:,>).0`2I(P#P?$,D@\#MOCSQY<>
M,*V`._&"!O@GN`,[]^PX!@@Y6G)R?&D;\DY';!/&^W'8@Q=5]CV#%CS)VOM@
M#(Y#-@,"O][6.!ZC<6P?GN(VY_L8OWJOH&_XL&E_^9XR;QC(]C%^]5]`W_%@
MTOX_Q/\`EGUC)O'Y\U_W]K7]K5']<>C9VG>]\C^AROU"(1TWU%?M`:X_P/ZG
M?Z#UZ.Y(Z;ZBOV@-<?X']3O]!Z]'@E?PF7^/9^L3'H=]R7^:8TJTN3\UEC_[
MUE1G`V)EV@2!VVRG/IMG&(_;RW`WR,`[;<=]L[C''EC:/RECF6E<9&)25R3Q
M_4$;8X.QP//`3\/UR/,@_EC8<;D[YP-\9WC]%!8_(G89-PFVXM;Y]^4:MK]T
M7OZ1V.1<XQM;GGOQ8Y[CTEZAM?=!7*\YH9K;JSHZY="*<BY5Z7:AW582[A;I
M"II=*;K:[8J=,-413%S\\N03.^^$HJ<FC+^[,PZ5=OS/M$^OT2LV1UO]6Z<2
MDV04]1.JX4@B6=*2E2;I&%`X4D@A0(&XQF+1&F'Y@J]Q+OO^#&?<2[K_`+OQ
M9\/B]TA122<X)\.<'=6#'&9I\_\`-9PF0GAB3F\_SC-I&#+.G918W[D9VQ'@
M?IM,F'%.S$A(O/*">)UZ48<=5PI2D<:W$*40$@)3<X``%A:_LEIZ?:ZIMJ:F
MFV4*3PH;>=0V`I84H!*5!`!4HDA(`N23:YON?NE&K52O]*G3;7:Y4I^LUJM=
M/NCM6K%7JLV_/U.JU2HZ;VW.5"I5&>FENS,[/STV\]-3DW,../S,PZX\\M;B
MU*.K9]N6`?:V]=XSO^?4@XSC(_,'9?EOMZ[`<[$QM%^CP%/2#TN)4"E2>F[1
M$*2H%*DD:7VN"%)4`I)!V((!!V(!C5T^W+)'M;>NT@_[=2/7BP[*QMMD>8XW
M\XUMZ%!;66H0D``4V:`&P`%4E+``;`<@/`1:NOB30*<2;DS4O<G<DRSE\F^3
MW[YS<QBBV!4.-QMC8=LGN2,>?<Y&^^:7Y/'C].,Z,/\`'FK6_.3^<+JB,CTQ
MY'SSL(PLXY/(&1Y#@XRK.VYW(.<=R-HS2_)X\_IQ?1@,''W=U:_#H+JF1P-\
M'([=CS&P&KLZ3U,2?_N_5\'M]C9@7YW.QV_;:L*$/X:HYO<^RE/OG%_*F/\`
M#GVWC:NG^IH^+/\`EHC3$=8)(ZN.JLC<#J9Z@_3<ZPWIOL,]^!OM]FYW/]31
M\6?\M$:8GK!_=<=5>2!^R:Z@M\8)SK#>F,;]CWSY_"*&Z`O?+46+CR*1!WYO
MOCE\GKM%F=)5O(*;?^EN]^[-N6<WM%NAP,@8'8))P/M]=\@C?``/T<138GGC
MX<'?;R)QL.,['B&_EGQ<#OG.01Y[[#D\]SF/<56A5FB-4=ZKTV:I[5Q425N6
MAN3+9;;JM!GYJ?D96JR:CL])/SE+J4HAU)_V1(S;9`4TH#9JX24I*D@K%D@D
M740$D\(.]@"2!FPO?:U0!*R"0%%*0.)0%P+\(!4;6%S<9W.W(1<#9'4+/VST
MJ]0'3'-HFIJ@ZNZF:":L4@-H85*TF\-'U7Y19Z:F%J(?;36K2OIR1\+)<;<F
M*1(^];'A2XBV?\.PQG(([[<`XQL1W[G)$4.?AR1G`(V^K!&V!C?`VBI4#N,C
M/&^""<\;9&=L[@G,=+$LS+KF'&4!*IQ\3,Q8^DZ&)>7XMK`EJ7:"@,'A*CDD
MQVNS+SZ)=#AXDR[74MVW2WUJG.$J&]E.+QL$X%@(RM^PV_?;^@W;?\^QSXC]
M;R^R?^WU]#&VH;.&D$]FTG[$B-2O[#;'Z;?T'8[ZW.')QD_K>7V/C^#\<;:8
M#+*1QXFTISZJ2$C\)C5GIW^$]+_L-KNM]_3V/5MW[Q<G1T+45[?,\]O\5+_;
MF>TDQK`/E-^H#UZ^UVUFHWSAN9E-+]--#=/)`MY/N$"PI:_I^66KQ$%QNKW[
M/A9&/#XO=J'B2K,?T9V[9QD[G`P2`1Y8&#R#@<",B_M>+^:U.]I[UVW?+31G
M91_J5U$M^0F?$%!VG6-.R]B200I*ECP-LVT&VO"OPA`&/"#@8Y_A^'O_`!``
M<Y./LC8O2,IY%I;3LK;A+-%I@6,^Z&5:4Z5#87<*SD6OSWBJZ\]Y16JJ]<$.
M3TP01FR4NJ0D$@V-D@#LP2;VS+H^2G:/M7[,>TVN14JI^95TQ6QH[)@*^@XW
MJDYJ34JA*E)!'B=595)"#O@!04#X@3$8^;O22&Y.9;+<Q)(:DIA!P5M3$HD2
MKZ"<X)0ZTX@^'&2">#OL$?D@.GB:5TA=5.J"F_U2_.I&DV:5K:1AV1TXTTMR
M:2V',9=;3-W]/E39RE"U+(`]XK,$KJ`M5VQ=>]<K*?:2P]9VL^J]K.LHR4M*
MM_4*XZ6&TA21A"$2R4)!`.,;`1$]*U+RKI`Z1)>]TM*T\EL7)(,K).2[PMV%
MXFYX38J`)R(SU;E.ITOI=TGSE&=4K`%^N<2XWZTH'!>^;WM'480%'W:MDN8:
M7G!)2X"A0QC885Y$;D'RC;H^QHU4G]9O9:]#5]U28$U4G>GRS;3J$QE2ENSN
MFZ9O3B94\I;CBU3!<M3,PM:RI;Q6LA)7X1J+N,$G!![#?D'!/GD>N#S&S)^2
MPZC)O?V4MLVRJ=$S-:1ZYZTV`ZP5A3DI+5*N4_4BF-%`^DVT9&_&U-!>ZAXE
M)^@4@1_IUD^NTO3IP)NJ3K#22JQN&IF5F4*L>25.M,8QFPY"/?T;O\%4G&"3
M9^3*DC(NIIULW`YW2I1ON`+;".YOE)O[SGU4]_Y_T/V_]?&G'Y<B-6@1WY!5
MC'!.3N/A@[GRYWVC:7_*3?WG/JI_^/Z'_P#3QIS^7QC5HG&?0'8>1))R02!C
M@8X[G!Q'9T%?!&H8O?4$WC?:0I9R.=]M\9CXZ1_?N5.?>QF]OTJ;S;GM;MR;
M13;G`QODD9&2#QWXVP1@>N8IX4*"TJ!4A:2A22,)4A8*%HP.0M)4DYVP<1[J
MWK>K5V5VE6U;=,FZS<%=G6:;2*3(-AV=J,_,!18E)1O*2Y,.E*@VV#],[)&3
MX3Z1*@I*5)(*5H0M!&^4J"5A0P.%)(4"=L;;1=(4"2D*"E!*5%)4"4I438J&
M]BI*A<BQ"2+W$0#A6`E8"N$D!*]AQ"Q("K9(NDFUL$$B^]RG4WU$5WJ5K^D]
MX727G[HL;IUT6T-KU1?;:;56'=&*'4+,HM7!;6OWBYRTI:VT3DPXE#K]2EYY
MY;8\86JVX[@#''EY<#!([GOOGSW...VV,9VV&=]L$=O3.//F*D$*`P,YR2-L
M8[`[9SY9`R-MQ'3*RS$FPS+,(#;+0*6FQ<);3<*"4YPE()"1LD6%K#';,S#D
MT\I]]7$ZX0I2B.$DI0E-S:PO9-U'\HD]L3[OD>&/T-_66/\`X05A[?\`JED>
M>^=M^W<<Q?G\J-_>DM2_X9.GSMG_`&R)"+"_D>`_8X=9?KU!6'_T327EMQCC
M:+]/E1W[TEJ7_#'T^_\`21(1J?5O^NQO<_\`2>BWYXX9`]FW*+ND<Z$1;G1W
MM_S7/']OA&L>P1@CC.>"-QQD^1VP3MR"=XJG=0)\P.YV)VSVXV.X..=XIN>3
M]Z"#Z$;C?<;\=B?QANH#8X4G8#?(.Q\B<'&QR-CA0C;;-LVM8<^5QX@XL#CL
MY6O161FXY6[;$I^7&+[[=L;5+Y.N/%[&SHS2,#-#U>2/(9U\U3'X(P?]>7R8
M#JTZK^LOJ6ZD[/ZB.G*VK5ULU:N'4&WZ!<TEJ@Y<%(IE88I[3,C65TFVIJFF
M?:5*.%U4E,OR_A4@H</T@C.%\G4_>;NC'_$NKO\`T^ZI1FP*DC8J2#Y$C^6-
M)IK5-8TKK35DY17VF'YBL5B6<4XPT^DM&J.NV2EU*DI)4VGS@+VQ?,;$,4J2
MJU!H[$\V76D2$@XE(6466)1H`W20=B1OSC7L'Y'[UL8..J3I6YW_`*'ZP<^@
M_,GQCRP(R2>R4^3H]3OL^>NG2SJHU*UWT$OBS[$MW5"CU&V[%E-1FKEG'[ZL
M*KVG3W9)=PV_(4H-2<[4FYJ=^<32%F5;6EA+CWA3$P/QH_ND_P#*'\L`I).`
MI)/D""?LS'94.E76=4D9NG3D]+.2L]+/2DPA,A*H4MF8;+3B0M+84DE"B`H$
M*!R#<".N5TC09289FF)527V'$.M+ZYQ7"M!2I)(*B#D`V(L0?".KM<?VE]6_
MX,=0.V?_``0K/Y?@C2CRXQ+RHSC^=97@'!'N4$'XY\O@#@;;KG7']I?5O^#'
M4#_1&LQI16,"6ESM_L:6(/!Q[AL9QS@`#&V=P?2+-Z`?<-4=[M)'+FF?Q>Q[
MSCLORB'])E[TG_B[;=LKV^OU[1^Q^.Y&0/CGSXQN<GSVQC,3;/D;7]?/:#<[
M4SID]/\`OK7'L?R^R(20.3@8[;8)[CQ'D[CRQ@@;XB;;\C:.:Y[0;_%G3)M_
M]*UR^&_GL,8BPNEL#[@*]@[4S!.W\,4_Q[R;VN0=XB^B`/NEIV#M-V[OO)_[
M=E[WS:)NUY7%*VA:5SW7/+0W)6Q;M<N&<<=S[MN5HE+FZH^XY@$^!#4JI2L;
M@`D;QI-[FN&=NZXJ_=M16MRH777JU=$\XM2EJ<GKCJDY6YQ:E+^DM2YF?=45
M+^DHG*ADYC;^^U"U)EM(_9T=;U_3,T9)5&Z7M:)>0FDN*:<:K5?L:KVS02TX
M@I4A]5:K5/;8*3XO>K1X<G`.GF0W[IM#)3_4FFVC_P#LD)1ON`3A&1D\CSR8
M@'0#*\,KJ.>*;];,TZ52HC;R=N9><`/_`!+9/@+BVTHZ2W_/I4O?T4S+Y3L"
M%EEL*/>G@58]A(MF\<TI*E``#<@[G.Q..>,;]QG8[[XB7%KOH\Q0/DEO2Q7$
MR"&ZC-=2M(UCJ3KC24O)%ZZOZOVA*S04,%0FZ/4*(E*SXBN66T#@)'AB->,-
MI4YN0VE;F!V]VDK.2<XV2K)R2".3S&Q:ZRM&&J)\E/MJS#3$BH6;T:])5_AA
MN46ER5JLI=6E%[5Z?]RM(<8>]U5*U,3;I2%(#TTXL`%6)QTBU'R.=T$S<I2_
MK2F.+SPW:;2N77Q7(NE/E@)&WFY))B/Z2ENNE]2.!!)11'T(!%Q=5G;9"K*)
M8`&+VO;-S&NG)&,Y(XR<??'`W/&,>FV^<1>C[.+4I.D'7_T6:E+`,M:?5!HK
M-3P4I(2:95+ZI-N54*4HI2E`IM;F_$24^%(60KQ!,68*^BI0\E'/``P<[\G8
M[#G)(YQ@^73:O/6]4J=<%,?<E*E09^3KM.FF%^[>EJA1IIFIR,PRXG[QUB:E
M&76UC=+B`K`($6'/2R9R0FY-8NB;E9F65<7LA]E31-A8[+SDV`MW1%9)XRTW
M*OI!)9?:<%K<1X%H-K''G6MF]L7L,#=[HQX0`,!)4D#T0HI'XH@0?+%@#KST
M0\Y_.AUFQZG\W%D#'Y?9F)T>E5ZR.I.F.G6HE,>3,4R_;$M"]*=,)&$OR-U6
M[3:]*O`=@ZQ4$.#_``M]X@N?+%3^OST0[X_6AUF/_P#?%D=N.WVX[;C3SHC0
MIOI!I*%`A:$51"AFX4FG3:5#MP0;['P,7GK4A6FIU23<*$L0>XS+!!^CF/&(
M;.<D'D8W!&#Q\=O38;8``(R?84K'W3IF1M]TJ?D8W!,]+\D>0V/`&01YQZ_R
M^.-\#`QW'/IYC'PQY]+_`*YTS(V^Z=-P/_ITO]7<$YQG;,;F+'FJW)"20"+8
M&W+?E<@>(&]"H%U(%R;J3ORL1RP3FV_[;'=KVE_8M;?^(*-_FV5CZ&/GK2_L
M6MO_`!!1O\VROE'T,?G.OTU?G*^DQM.GT4^`^B/C-1K-I^HE@7O8%5&:7?%H
M7/9]23XBGQ2%ST.?H4VGQ`$IS+S[@R`2#@@'$:3^MT29MFM5>VYUIQF=MRJU
M2WIQIU*D.,S-!GYFD3#3B%A+B%I>DEH<2L!07D*2%#;=XKQX<G@%*B?()4%$
M_5B-/+[3S3!W1KVBG6WIRJ73*R]!ZG-7YNEL!"6T)H-V7;/WK;RFVT*6E+"Z
M'<D@ME/B\0:*`M*5^)*=@N@*=X)W45/)OUTK(3B$_HSS[+A'CY4T#;F$WN(K
M3I*8XI2F3(!]K??94;V%G6T+2#ZVE6P<%7(F]BQY],XVR`-]B<8'F=CG)WXQ
M%S5]7ZBK])/39IPF94MRR]7NJNY793WGB#+=]RG3LU*/EKQ807S:T\VE12"L
M(<`)`R+8\^HX&VQ`P,XXSG?;8\G)YSR"E%/A)5A/C(3XE%*2L#QJ"3]%)4$(
M2K`!/A3DY2,;(/2Z7ERKJCF4?\H0+?C&6>ER3F]N&85FQQ8#%B*G9>4TW,(`
MN)AI+1N>276W.(X-_.0-L6MFT/,`>?J<9(QG.V#C`&<F+K^@_2][6GK8Z1M*
M6&TN?F]ZDM%Z%,I45I2*:J_Z%/U52EMI4I*$4J1G7%.!)\"4E2B$I41:=VR-
MP<#@_41G;??)&<<<XQFH^3RZ>+U%]KYTB2Y"?FUEU?4?4V=*@OPH:LC2J\IB
M6.1GZ7W5GJ:&_$`DK4$G!((QNI)LR&GJW.W"3*TFHS"2=^L:DW%I]96!:XOV
M7!CV45GRBK4U@@GK9Z620`"?=47)OR38DDWQ8YV.U=0,#XJ6?J4M2A^`Q`0^
M6'?NCNC#C]I#57/G^V';^WU[X.>>T3[T#PI2G^Y2!Y\`"("'RP[/Z([HO_@0
MU5XY_;#M_P#+;?RWC4OH?^'M*^(J7.W^CYCG%UZW^#D]XL?K#.W?$.D[<'&!
MOMMZ>0XQN,$;]\B/84O^N=-[G[H2!W!!_P!F2^YR<9R1@#D>HS'K\8SN?+!)
M[9[$[CU.V^<'F//I8'W2IXS@BHR`S@DX,Y+XQY#Q;GR.`3G,;F.'VM9W)2<[
M'*1N!BV?5WY,4*U[HWN3QH!./RDGERSV^HC,;M:T?[%K<_Q#1?\`-<I&MI^5
M7_OJ8]>E[1#CG^OFJ((\N,>NX'$;):T?[%K<_P`0T7_-<I&MJ^57X_34TC&?
MV+NB!Q_]>:HX..>1SY#TC4/H6^'&W^C*A?;'G,>K]GTQ>.O<:;=_29.]C;^,
M^3Y<?3$:_;/;N`3C(Y3OC@8[\'&1D1>I[-O/Z8;T)C8_LO\`IS.V<;ZLVMOO
MSD`8QML=XLL/)XR1GCX9R//^USDX/.^\7I^S<'_=#NA/??\`1?\`3GG&VPU9
MM?&-P1C.^P.>=C&UM7]Z:GV>QTZ;$[GR9?,<MK=^XL,4O3_PZ2[/*I?P]U;M
MX#Y.VT3H/E;=OTV?]FOII77I9E53M[J\TS-/FU-I]^PU6M/]6J94&6G<%:43
M38ER^@*2ESYNR5!1:0!KC,#![<X!)&!CGN<[8('V1LCOE9W[U]:>>/T7&CN?
MA^9/5?\`[.WQC6XXWY!R!]ISP!GCC&^#O\*SZ$U*5HI*2I5DU6?">Y)#"B!V
M74HD6ODGM,2WI!`]GKC!,HQ<B^;7%L<]@.?(1^LO/35*>9JDF^[*SE,=:J4G
M,L+4V\Q-T]:9Z6?:<2H+;>:?8;=;<2H+;<0A84DI!&[*TTK+]Q:=V)7YIQ;L
MS6[,M6KS#KCGO7''ZG;].GGG%N>)?C6MR84I:_$KQJ)5XCG)TE,YCYE/;;F1
MGOJ/S5['.=_,9.#ZXC=8:`?M%Z-?P4:<?Z%T/SW^V(AT_)26M+KL.(+JR;VL
M;%-.)'>+IO?MO&=Z,R>&K9-B90\/(%(?`(R;WXCGG\D=NQKQOE?G[N_IK\OT
M(LMWV_;HU)SZ[`]OQXC8<QKQ?E?A'Z._IKS_`'HLN1SVUHU(X]?7MWVB!]#7
MPZD?T*H_JJHDNN?@[-?&R_U@B)D<9R=QG.`#QMQ]>?+CSCM+0W]NS1KC]M_2
MTY__`'_MO/D-\YV&<\B.K3L`<\C).WX0?+UR#':6AH(UMT:.1^V_I9@9`V&H
M%NX)&<Y([@[Y^!C<"<Q*31OO+O6';[6<;"XMORY6N+Q1LG;RN5-]YAFW_J(_
MYVVOFVUMUFG@_P"$O_+5'*.*>#_A+_RU1RC\ZXVAC6/?*CL?IM=^9P<:%:#8
M&Q.?N'7>>_'/'T03P3$=LXQP>Z@2!W'Y`X^.1B)*'RK"D.T_VIXGW$)2W7^F
MC1JH,+#2FRM,G5;_`*0M2UE($PI+D@I'O$E7@0$M'!:($:W.,YVP>.XR,C.-
MB/O?%DGC)[YWLZ/R%:*TSPG:DR@QL2EM*2+W&0H$=Q[R+ZYZJ!^Z"J[@^5*Q
M?F$-@'<=EQOOX`WH>SBQ^F#=#&!C'5WT[$<?[ZUKXP<#@Y[=MC@8,VGY7O\`
MN$NG?;/[+2D;9P,_G2:H8SV^V(2WLX?WP?H9&!OU=].W.?\`?5M<;<GG.<8R
M.`,;S:?E>_[A+IW.^!U:4@G'II'JB1OQ]1YWQOB(-K4?_:?T>6YB8(YWNMSY
M>S$22@6^X[4WYR?G0V3;N_;&O&VW!XW&#SW'8;8VS@[X[\1R0/IH(&Y4D$;Y
MVP,[@$X((VP/0QQ_N<DC'/&<*R$_$#C&VV<9BJ`?&C[[8@G?;8[G?C/?`^^'
MU1=5]\D&VQV.!SOOSO>X%N0BO>9W'+.Q^>Y.-[@C'88VY_L8_P!ZKZ!O^+!I
M?_F>,F\8U?8YR2Y#V670&PYXO$KI5T?FCX@`0)^UY6?2,`J&$IF4A)SE20"0
M%$@9*H_/>O$&N5DC(-5J)![C./$1L]3O>^1_0Y;ZE$(Z;ZBOV@-<?X']3O\`
M0>O1W)'3?45^T!KC_`_J=_H/7H\,K^$R_P`>S]8F/0[[DO\`-,:5:6_V-*J&
MX$I+?'/S=K(R=AV(\]L8($?N<;Y^(R=\J&1SMG;<<[]]C'XR^3+2O8?-9?&=
MMA+MC&W]MMGL-L=Q'ZXSL<#U]0<X!SVYR>>,XC]%$[)(_)`!`.4@CYQSQ8QJ
MXY;K%$?E*\;<0/+[9B;'\CEE)2<KO7^)J5EYD)I73;X1,,-/^$*G-9R0/>H5
MC)0DG'WQ2DD92G$Y'[BT?&/N73L<8^82F,>7]1B#O\C</]'O:`CRI739VQC^
M>]:=L=OM_!B)S<:6=+2B-?UVQ(%J987/]4R$7YHH#[F:9@;37?\`RR8.\?DI
M*4,J0A(2A#12E*0$I2E*<)2E(`````````V`Q&I;]N61^FW==P/!UI1W[_F#
MLSC)P//S^KG;3.?U-S_`5_DF-2S[<O\`?;NNX')_7I1@8&^;%LH;$8.<]N2`
M=]S$IZ!OA-5K_P!1K\?P^1VMS[(Q/2-;V'E;W/W^BUOB7NPW^U^48HCC@'@'
M?8Y^`.WG@;>>3D1FD^3Q`'VQG1B=MJYJT-OX!=4CYYW'`\N>3G"UG<'T^O)(
MS@XV)/EG?&#@`1FE^3QY/MB^C'MBO:M;'R_.$U3'VX'';O&Q.KP?N3U-G'W/
MU<$7YBGS`QS[]^5]K7JJA7]FJ,/^])"_<?*F<8^W>!B-JZ?ZFCXL_P"6B-,1
MUA9'5QU5D;`=374$!OL<:P7H0!D@;G@D'?@9V.YW/]31\6?\M$:8CK!)_1<]
M5>V?V3/4$2..=8+T!)X_BP,D10W0%[Y:C_09'Z]_U7O:U\<XLWI)OY#3;?TM
MV_AU,6[I^^&3OD'GR.,;CQ`^0WX^$9E.MOID-+]EQ[(GK"I$I+)E+TTZUTZ>
MK\F6T+1,*N"S>H'6&^=.IF:4H%MWYS;%3N^EM.`A32:$RVXD^)"CAJ3RC<D^
M(;@[D9Q@C`^(!`[<[Q.FIW3@>I#Y(M8$E3I)R>NK1>T=0NHFTT,I*E)FM(^H
MG5.KW2$H\)<69C3J:O250TW])UYYI'TA]$W#K2LFAS&D)LJX&7=52LA,DFR/
M)Y^G5.54I9`%T-J<0]XLI)VQ!=.2/LBU79<#SQ2%O-8'NDO-2SJ>$'%U!!0"
M;&RB`4@WB"NE.1CE(&`>//8[G?L<8P=_BR#GML2.23OW)//.,C)^(BN0?O3E
M)R01C!24Y21WP0<_`@C<QQY&0<Y'F1N,]R2<;['G<[GM.@;D7/81@?.<[YQB
M]AMB(Q8DW)VM;U[GUYY#;%HRN>PU'_=;^@[?C6YS;?G\[R^_L(\N^YC;+5:J
MR5"HE0K=1<#-/H],FZK.ND@!J4ILF[/3+A*B$@(8EW%$D@``DD<QJ:O8:_OM
MW0;_``VKS\?SO;\V&WE^$&-FY[1#4:4TDZ".L74><4XA%I=,6M=48+/]4^?J
MT[KTE34HW&5*J,Y*)`!!.=M\1JUTVRYFM94*50#Q3-+E)=(`R5/5.<;%AWE6
M-O5%SZ!<#-!FW56X6IJ9=-\>:AAA1N<\DGE_EI];_NF;OF_;XO>?=+\_>=Z7
M==TX^1CW\W<]RU2O/N@$J"?&[/K7X?$2GQ>$E6QCY(^FW<$;'D<\8W[\9VX`
MQ^;2"RRRRH@EIEAK`VRIEI#2B,['=)R1G.Q((WC],$\Y'<$=@?P8V.`.,;CZ
M0C:)MM+3;;:19+:$I2D`82@)2$^(L!@]POL*;=65NN.*/$5N+638W45*"BJQ
MSDYW)![3@2W/8H^WEZ/_`&:G1@]T]:L:9]0%TWY5-9-1-3JQ5-/+>L>HVPN7
MNB7MBET9EF<N"^Z!4%3C%*MJ5:GFC3$,M.@>YF)@+46XW76=JU8^O?5SU,ZY
MZ:4RNT6P-8M<]3-4+1H]RR<A(7#2Z)?5SS]R2U/K$G2YZIT^6J$LNH/LNM25
M0G)=)2"W,.`^*+:>P'.2=MB0,GTP0"!Y`^F"3QV!QC`Y&=QG'H-\[@D8(/!/
M>.4O2=)I%:JU=D_*?+ZP5F=+C_6,JXG4O'JFBD!NRL(R?,NG(,9:>KL]4)"4
MIKX8\GD0D,]6T$N60CJ_/456/$+WL`"1>_*`)Y\AMC/!/..^/O=SCZLQ/0^1
MTZBNS^C/6UI*Z\@,6GJOI3J/(,%2O>K5J%9-<M>J.I0?H^Z0YII305).?>.G
MQ[%&8%^`?,9(QZ`$;D[8!QOMY@[G,2LODC.I[MM=?.M^E[TRENG:I=,E5JK<
MNMSP_.:_IEJ#:$]3BRDK2''FJ-=MQJ4A*%.>X2XOZ+;2C&!Z5I+RW0E<`RN6
M;E9Q.QL)6;EW'",C^)ZT7`YG&(R6BICR?4<C?`>#LNH6O?K65!`%NQSA-[?B
MD&PS$G_Y29M['3JH/_O_`$0_Z=].8U:"MU*.XSGN>V>.3R.>WGL#&TO^4F?O
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M./JE$6(\W8;B))MD>+[['PSYD[<8P,;Y[`\P(./%G'.^2<[_``&_;?&3QCF*
M$8&`<$=SG?/IVR-CC;^.NYVR,C.`<$[#&,<_C!/D=S.;`6-[G%^RQ/9L`;WS
M;N`OB+6`S?L\+`\@,9QG8;V'*?=\CP&.G#K+V_W0=B;_`/JFD?LQ_&(OS^5'
M?O26I?\`#'T^_P#21(187\CO_<W]9?\`Q@[$W'\$TCSG?/')XQ&1KY3=;LY7
M?9":\34HS[Y-L7UH+<TX<9]S(R.K]K24T_Z!"*D`3D;*([[ZCUA03TU-E1L/
MNGH@N3@$BG@7/>;8Y7VQ%[2-SH1/,BC3!P"?10Z=M^7J$:O<\`\8QL1OW.0.
M1V.<9[9BJ1NCG'B3G<\<G<9'T=LYWP3DC.U-P2!MG;<[^HP//;'GQGO'-`P4
M]AX@22=^`<'(^B-LD'@\=C&W)(SG-\>OA.3?E:U[^%K8HHFQW]5QMB^3Z\<^
M5K8VJ'R=@D>QKZ-"#N*%J^<CS&OFJ>XB'K[4SVN/M*=&O:+]9VE6EW63K'9.
MG5@:]7;;=FVC0YRVT4FW:#)2U*5)TJGHFK;FIE,HPI]TMAV9><!6<K43M,#^
M3I/-O^QJZ.?=$GW5)UDEUY!3AUK7[5-*P,@9&>%<$$',:^/VRJT.>U5Z_7$'
MQ)'4S?C9(!^_9:I#+B<XY2ZTM)SMD9`.Q.MF@*=3ZETDZZ:J$E*3S:)FLK2W
M-RS,RA"_9Q*0M*'D+2E=E*'$`#8D9%P;?U'.3,II.A.RDP]+K4Q3T\;#JFU%
M)DD8XD$$CF1>V+\H^A'MO?:SG.>O+77MC$[:>Y\L?F3[^?;N"><ROL#/:?\`
MM!>IGVG^B>D&O/5AJMJEIA7;-UNJ5>LJZ9JWW*+5)FWM+Z[5:),3#<C;\A-*
M=IE69E)Z6]W--`/M`N!:/$A41K;`.V0K`/&YX)V.>=LXXQR=I"?R8"D.5'VN
M>E<ZAI:TV_HYK_67EH2HH8;>LN7H"'%E)PE"G:VAI!6/"I;@`RLI,6=K33VG
MY726I)ABAT=AYJC5!33S--DFW&G1++X%M.)9"T+22E25I(4E7HD',0W3U7J[
M]=I;+M2GG&G)QE+C:YEU2%H"DDI4DK(4DI&01;-B3&R@UR_:7U;_`(,=0/+_
M`,D*SSG/Y>D:4>7P9>5X/\[2V#D$@%AO."=AP1CMMOO&ZXURQ^<OJWDX_6QU
M`_T0K/V^>(THTN?YVE<XWE98C(\F$8&1SD#U'K%==`-^HU1\;2>_/#/VQ]L7
M'.)/TE[TCPF_IEC'Z[#<Y."3]IW)*3G'!&`<GS(S$V[Y&UG[M^T%R<G[F=,G
M_P"*UQ^)_+;O$)'@D``=_LSQR<Y]>^=Q$V[Y&W_7SV@O/];.F3_\5KC^'S^J
M+#Z6O^K^O>%,L`+6_A>GG]IN`<X[A$6T1\)J=WB;.!@?>4QXV)O??U[",T_R
MF'4,6+[(;J`IB)Q4G-ZF7;HMIO)A"EI7-_=35.V[@JLD%)('@>H%L5<O)7]!
MQE#C2L^,1J[%$$E1!R2?/GG.//)/'EQY;"[Y7QJ,*)T2].6EZ%A+^H/4ZQ<:
MQXG0M<AIOIG>3KPPG]24VF?NZF+4EW)#B6G&P5()&O0S^`D9W\]R<;@9YS_;
M$CO@8;H1E>HT8IXIQ.U:>F+D;I0F5E!:PS94JH6[;QD>D-T.5UMO-V))E&YL
M.-;CN`,7)6+]H&<"T<%I#J'&U%00XVZTI2=B&W4%M9;SCZ02HE.^"0D1.!ZB
M/E'?L]M8^@'5+HTI6CW5)*S%X=+]4T,MRHU*U--9>BR-;;T[9MBVZA//2FI,
MU-L4R2K4C3YJ8?E9!^9;E&EO,21>"&!"!'?;G`&Y)QP0.^_`&<@8WY(IV\RD
M[X\\X)Y_M=B!Y_;$[U!I.DZF=I;U2\JXZ/,*F)(R\QU/"\I4NKC=`"N/A4PW
MPBZ2GSORC:.4NN3M';FVY0,\,ZVEIX/-]8>`!:;(LI/#<.D*[;)/XHO7*\@K
M(\12"O!V*BD>(@[8!4"4[9QX3C.T4QXTE!^]<'@.1@$+!0LXP01]+;8YV`BO
MF,D$'&PSL?/`'IG!.^=LY,-L`YW!\CL?+8X[Y&V"8DMA@Y.U\=P-K<R1O<FP
M]4878@B_XMB`>61P_2<FUHVY?L8=63K5[++H;O=;Z9B9E]`;0L*H*!'B34])
MQ-:6U!#H#CA#@F;/43XU!Q84'%I25^$16OEB@)UXZ(@#C.D.LV^^<_FXLG&/
M]<9E/DJNHJ[S]E93+6=6CWFD74%K38;306%+3)5F>H6J,LXM(2"A*W-09M#8
M)/B#)4#@A*<-/RQ?]OCHA`&2=(=9AOP/Z>+(QMWSP1]D:H:/DA3^F:9DTBR&
M*GJ(-BPPRJ6GG&<;>Y*0;;1=M>?\IT.A_F[)4XJMD!8<E@O/8%A0O$-K;D;8
M)QC)&Y&_'?&>,Y!](\^E?USIV<G^BE/[D[F=8''VGC;`V$>#Y'P[9/.!G<]Q
MZ#8>?I@1YU*Q]U*7C)_HE3L\#B=E^"!R=]M]QN-]]K590K&R3G?``-C87N<G
M(!OCM$4HC*D_G)%^[S;W([=[^HGE&[7M+^Q:V_\`$%%_S9*Q]#'SMI$?F6MO
M<?U@HO<?^YDK'T.1YC[1'YSK]-7YROI,;4)]%/@/HBI&00>XQ]L:O_Y3GILY
M87M<=7ZXF69E9+5O3'1+4N02PGPA[-EIT\JDPZGP)'SA^LZ>SSKJ@5%96AQ:
MO>.*`V@$:_\`^6$:<(I74[TA:LMR7NDWOH9?5@3M0QX6YB9TWO\`EJ]3Y=:R
MK!>:D]2)U8&`?==]@(M?H6G/)=;L,DV$_3I^4MVE"6YT#<?T/&_9SN(;KR7Z
M_3SR[#[VF)9^YY><6C;O/6V]?;:(?.P\\DD;C&,#.>Y!'.QWQZB`P23DX)R=
MCOW\^-CV!'/PIXD$Y\2-A_=I.RAQD$[G<$YQC)4,[PR-_I(`WV\2,#/.-\[Y
M)(R=LD"-PK]N#BY/;<'%@?DY7S@"*'LH\B#87OZK';PY;G-K)O7;`[@$'RQC
M&#QMMMD9'KQ$HKY)9IU+77[2'4:]IME:TZ6]+-]5.G/`+"&:M>E\Z>VBV%*2
M"@+>I#U;2VE:_$I*7%H!]VHB+H5)SGQ).^_TD[$#X^@SG`WSC)Q$W'Y'%I\M
M=5Z\-5G6$^Y8D]!=.*=-Y427G'=1[MK<NVK'@4`V;>=>"5E:"6O&D)4@J@/2
MA-B4T)J!P*LIV58E1FQ(FYN7E5IVS[6ZNX%KI!OVQ*=&L%_45.!2HAM;CY-M
MNI96L%6UA<)2".:@;<XG+1`.^6'?NCNB_P#@0U5_Z0[?_EV&Q\HGXQ`-^6'J
M2.H[HORH)_61U5Y*1G&H=O\`'BY_+UC7#H?^'E*O_1ZE_P"WS'<?EY;Q:NMQ
M?3D[XL?K+,0ZCC<#(W[@]L9&-L8)P#@C)Q'GTO\`KE31W-0D,XR!M.2YP5<Y
M.<8&/P;^O\2/[I!..ZP#D[Y()[9QCOCUCSZ8I/W4IH"F\"HR`V6G`_GR7VW/
M_;G/!VW+7<H4/]0GER2,G/TV(!WM<10K5^L;N#;C3DYR"GG;O)[?#:-VO:/]
MBUN?XAHO^:Y2-;3\JP_?4Q_Q7=$,#//]'-4?CW[<X[=XV2UH_P!BUN?XAHO^
M:Y2-;3\JP4![5,`K2".EW1#8J2#O7-4>Q/<>?;.-XU$Z%OASX4RH'>WX[&\7
MEKR_W-NV_I,G]8/L>Z^^T1L,<;<_'R&?/C'EW./2]3V;?[X=T*'&,=8'3GD`
MX_VV;6&2"=_PD8&1%E:O!M]-///C3N,<@Y'`.-C@['X7I^S:4D^T.Z%/I)/[
M+_IS(^FG)SJS:N-@K.=^#G.1S@QM;5[&D5/?WMGLYO\`@S@Q<VSL<XOR%XI:
MG7\ND<'\+E[X(M9UOU"V+@<SRS$[WY6;^]?VEY?HN='?]$M6/RQ@Y.W)R-;?
MCX9SL-AR#OG).!OC<9(SQSLC_E9Q`]E]:>2`/T7.CO)`R?S):L8&3Y_;&MO\
M8VR4'*<Y*T>0P.><#S\P,')BL^A+X%?_`*M/>/HR^U\<['QB7]((/LZ.SR1G
M/R_XV/C'X3N\E/X(WD9WDDG:4>P?(_;SZ'?=9:`?M%Z,_P`%&G'^A=#C2FS9
M0)*?^DG(D)X_?I&WS1[_`,['D3D[C/D8W66@'[1>C/\`!1IQQQ_850_+;[(B
M?3][CI<?]I5<_P#AT_YNS`_;&;Z-/1JV+"\IX;.^L^NVUN1CMV->+\K]_=W]
M->QS^A&E<8&?]NG4G(],C.?3MV.PZC7B?*_BD==_34"0">D:6Y4`<?GT:D9.
M"H;#G._';$0#H:^'<CM^!U'?;\&5O$EUS\'9KXV7^L$1-#L>!QMWQZ=QL3WY
MQF.TM#OV[=&<\_GNZ6[X."/SP+;X..2?,_`\1U65)X\2-AD_31D'C).=AR`!
M]9[1VEH<I/Y]NC0\2-]7M+/[9.?VP+;_`/..,Y^'EV$;@3@^])G'\G>\39NP
MY<[G&>_(L*-DP1-RI(_E#(SS]L;SW=M@=C?>-UHG@_X2_P#+5'*.*>#_`(2_
M\M4<H_.N-H8@#?+`-#:Y1>H_I7ZC&*6X;3OS1ZX='YZK-%QQIJ[].;MGKNDI
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M&;9J+E59:6[*37`75(3Q=0\E*$+ZT`72E82%H6<7*DWP`;8=#M3IS136O1_6
M.GRJYZ>TFU3T]U+E))#R6%S[]BW=2+H$BW,*!0PN?12URB7EI4AI3H6L%*51
M(C]OI[:KI_\`:;:7].FE?3M:VJU$H]A7A7=4-09W4VAT6VO#<,_:RK9H-L4>
M3I5?N)56-';JM>F:E7/?RE.<6J4:IZ9T/.NR\8O!`S@HV&^",CDG@??9&,'G
M<[1Q\MN!CN=^XX'&?(G/F(LN=TW3*E6:179I#AGZ()@22D.E+?WP@(676P"'
M"BY4UYR>%:B3Q8$1&5J\Y*4^>IC2D"6GRV7^)`4Y[7PD\*C>W$+)4;G&UCDU
MP1CC;&,D_'.1D$$['OC'<C/GTJD5:X*G3*!0*?-5:O5RHR-$HE*D6ES,]5*U
M6)MFFTFG2DNT%.OS,_49J6E9=EI"W'77FTMI4I8!\$(6XXTTA*UN/.ML2[:4
MDN//NK"&F&6T@K>?=<*6VFFDK==<4E+:%*($39/D\?L(=1Z-J59W7IUK:?U&
MQZ=9)E+FZ;]%KOE7J==U4N]27%4S5O42VIIIN=MNEVRRX)[3ZUJRB6KM0K[L
MM=E7I],DZ+1&:KT:JU13M*4E^I3[K0<2VOR.4XP)B=FBGVMAI!\X@J*2ZX`0
MRW=U9QGLH=%FZU.M2["%!L+2J8?X24,,W'&I:C<!2A<)1NI=@#N8F*='^CDY
MT\]*739H147&GZIH[H5I3II5GV%)6Q,5>R[(HE!J[[*TA*5LNU*2FUMJ`'B0
MH*Y)BXV`&!@=OK/UD[D^9.Y[PC0U]YR8?>F'2"Z^ZX\X0+`N.K*UD#D"I1-N
M4;'MH2TVAM`LAM"4('8E"0E(]0`$(Z;ZBOV@-<?X']3O]!Z]'<D=-]17[0&N
M/\#^IW^@]>CZE?PF7^/9^L3'#WN2_P`TQI6)<YE97/`E9;ZR)=OR['SR3QC&
M8_7OD$YV)P"0<$9\OP@8X!$?A+J`EY4^)&/FDLD@*0!_4&R,9[C&V<YVX$?L
M5)SD%!P-\K2=\$;[XP-N1G.<Q^B:=A;:P'(C\7&;<SXY%\W$:MN)/6+P;<2N
MPCTQC-@#V^H[Q-L^1N?U_P#:`\_UJZ:]SW'SO6G_`%Y^/EB)S<08OD;:@:][
M0'<$_<KIK.R@3O-ZT8S@G?M^`1.=C2SI:^']=\*9_P"T2$7_`**^#--Q;$U^
MNS$<'/ZFY_@*_P`DQJ6?;ED?IMO7:,@?KU(QQWL2S#G@XS\=OOL1MIG/ZFY_
M@*_R3&I8]N64?IMO7?E20?SZ6\_3`P/S!V7N1XA@\CL?2)5T#?":K;^\:[$=
MOE\CRY^$8?I&]YY7!/W^C;<$M._:V?",4>-^^?7!'!SSMP?PX]8S2?)X_P!^
M,Z,=N*[JQ_T":I#?R.0,YQDC('&<+)4D8)4C)SMXQP5<<XQL#C8C.1G$9I?D
M\2D'VQ?1AA2237M6L`%)XT%U3X`)5L/B-\\;C8C5]AI34QY"@5C-MB*<_>]N
MW/;G;>*JH0_AND;FU3I]S_Q;-SX'?N(/;&U>/]31\6?\M$:8GK!..KCJJ/8]
M3/4$`>^^L%Z9/<9X!(Y_#&YV/]31\6?\M$:8CK!4G]%SU5DK3^Z:Z@@?IIVQ
MK%>A&V0-\'G'J-MZ'Z`O?+4?Z%(<K_RA_P`?G!^6T6;TD@F0IMA?[[<^JW]7
MTQ;LDCQ()\P>,X.2-LX('KWV,;3WY/U0:/=?L3NDBV+BI\M5[?N.RM:Z#7:5
M.MAV3J=%K&N&K--JM/FVC]%R6G)":F)9]L_14TXI)V.(U8"2DK20M.RM_IH/
M<;X![#T(S@[1M5_D['A5[&WHNW"DF@:M<$$8.OFJ0P,;8Q$MZ=R1I>E*2H@I
MK\L00;%)%.J138BUBFVXS?.\8+HW%ZM/`BX-.5<'./*986-[\M^W/;&LLZLM
M"*MTP=3O4#T[5A#J9S1;5^_-/&G7V_<F>HUOW!.,6S5DM>)SPL5JUU46L2F%
MN!<M/,D+4D@FWL\XR=SC(V&.#G&X'&!V&_&\2@_E7'3)+:0^T#M+7FB4Y,E;
M_5+I+3:U5YEM"FV9G4[2N9:L>ZEDAM#*'IJT'M.IQ:$N./3#_P`\F7`D<Q>_
M$DE6%IP.X4G@YY/B&?7)\B=]A9VDZP*[IRC5;B!7-R#*YC.!,M@,S0`%QYLR
MVZE-K8`N`<1$:Y(&FU>?DPFR&IA9;N#[BLI<:.PMYBDV`L!C>USE=]AL<^UO
MZ##W_/M<SO\`^CV_.!@;\_`8'/$^?Y17JBUIA[(3JF2%J1/ZCT_3[22FE(22
MI5_ZA6U(55!"EIV7;LM605)"UMX]X$$).("WL-BG]-PZ#?I)S^?<YCZ23DG3
MV^_KR3N._.8E[?*X]1&[?]GYHGIXDI$QJ1U16I,+)*03(6%I]?EQ/X)6"$B>
MF:82I*%_2\"24!0S3NOY03O2QH>7*>-):IKRD]K<M4YR:6#_`*O`R;C\FXB?
MZ9>\FT96GA=)29Y((%R%+EF&TD#(N"H$8Y=@C78J42I:L8\:E'OMDGZN3COY
M'8[U(`(\LC?/?')!SXL^@\]MHX9&#E:#X3D?33C!(VY_C!],Y,53@J2/&G<A
M(^DG.21MN?78'C&V-C&P)'?L3D=@"?EM:Y^:*JL2;[9(YYN!MO?%NS/(\YA?
ML5O8`=(WM">AZB]2VO=X:^T&\[AU.U-MFGR6G-X6M;]MFV++JTG0J:\)&LV+
M<,X[/N5%BL_/)Q-2]RZ`TRW+,*EUJ=P7>V$Z+=.?9_\`7OJMTR:252\*UIU:
M=M:7W#;%2ORHT^L72ZS>]B4JX*DW4JE2Z31)&:$M6GJG+RJV*;+>"40VVY[U
MQM;B]@9\G*M-=J>QXZ1O>)4ERY935J\B%``EJYM:]0:A*K&.4.29EUM*))4T
MI)!Q@"(1\JPM%VW/:GIKKA"6[]Z:-&[A9)*4^+[CU._+.<QC'B^G;X&3D@@#
M9(3B@]&ZJK%0Z4-0TJ:J<R_2VUUQJ3DG%@R[7DE090R6TVP4,-N`7)PI5R22
M8M"OT:1E=(4^::DVF9LIIRWG4)(<)=8NX%FYX@5*\[;88Q:(V!P"-B"2D!.1
MMMOW!P!P=O+8X$9K?D\&I;.F7M>^DJ:FGRS3[XJ&I&EDVGQ^!N9<OO2V[).C
M,.?1/C"[AE*,XVC8J?;:!5L<X4/$D@GQ(^M2`1DYWP?+SVR=LXBZ/H@U=&@W
M63TJ:S!U"&=,^H?1^[I[;Q@TFGWU16JVV&VUI4X%T69J"/=Y\*_%X5!2%*!N
M/4<F:CI^MR(3QJFZ34)=`%B>L>E%MH]?&1P[GB%X@%'?,K5:=,DE(9G)=Q1O
MBP=;"KW_`!2GB23DV)L;D1LC?E)1S[''JH/]U.Z'$?7KQIP<;"-6BH@GCN><
M9^^\\`CCOMP>PC:7?*2SCV.753XL)Q4-$0,X`P->M.0G<XQD8_$.8U:!*`<^
M-!.3_;IV\SC/(YSP,["*PZ"?@E/[_"&;..WV/I8SW6_;VQ+^D;W[E=S_``:S
MM??RF;^;M[\9.(OD]F/@>T=Z"NW[,+IUX[G\]*V]_J!P1_)&P-^4T],">H+V
M7VH%\4N49>N[I>NVW=>Z2XB3=F:A,6W3535H:BTN6=9;<<EY==H73-W!-J(#
M*U6O+&84AMOQIU^/LQU)/M'>@D>)&3UA].V,*3DG\]*VA@`'R`]3P(V\6K&G
M-OZP:6ZCZ378P9JUM4+%N_3RY)<`>)Z@WK0:C;=6;23]ZI4C4GO"H;I4`H;@
M1'NEZJ.4366C:LV5!5/:$RH)W6VW.H+S?@ZSQMGN6=C&7T/*)GJ!6I-8%IE9
M:S>P*Y<A*L_DJLH'.1F\:3PX2I0!R,D`IW'T002,;D`'[X<Y!WR(X[#<@8\L
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M-E'N/A&CZ\7C_5/`I'C\*_=J24J05?3*5A>Z5MD^%:2D%*@4D!60&XP2>-\'
M.Y].0<?5G)^,2O?;L>P,UBT)U9U&ZM>C[3VLZF=-NH-9K=^7OI]8U-F*S>>@
MEPU9Z8K-V.-6K3I==0K6D<[4'IVLTBIV_+3TS8[3TW1Z_(2U$D*=6GXH3:@M
M)4VI+K>5)4II2'$Y&Q'B22`I)R%))!200H`@@;<Z=U'3-3TQBITR8;>2XA!?
M8"T]?)/%(4J6F$`\;;J%<21<6='MC:EME"C1U6I,Y1YMR5FFEIX5$-.V/5/M
M@^8MI9N"%#<>D#=*K$")@_L5/E"W3=T&]$J^E[J6LK6.IUO3&[+XKNE54TTM
MRA7/2[FM>]:I,W<NUZJNJ7+;SMLUFEW74*TTW/3:)NC35*J4K,JFV)J4F)9<
M6OJ=URK/4UU&ZZ]1%?IK-%J^MVK-]:HSE&8>$PS13>-PSE6E:*U,A#29E-(D
M7Y2G&92TRF8,J9A+327DMIZ,^ECOMP58!'&<\G.^,Y.^^Y&Q*2=@DJ[G&3MG
M/;(`SG.XP<>1CHI6DZ-1JQ5ZY(LN(GZTLNSBENEQM)4X7G>H;)`;#SZNM<!*
MSQBR"E*0D]D[7)^H2$C3IA;9EZ>D(:"4!*E!*0AOC(R2V@!"1@#<@D`P)/;O
M@D9)W`^W'\G.T3`_D@6A=7KW4YU1=1TS3E&V-.-&*)I%3JB]+N!E=X:G7=3+
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M`I+[Y3PHZH$74AJ_$IP625)"1?B-K@]<=M%]6_X,=0.=O_!"LQI1V,_-Y;;!
M,I+;X&2?<HW3VSN"=OJR(W7&N)QHOJW_``8Z@?Z(5GU'Y?:-**PI!EI8>)'^
MQ);.5IW*F&QA()!VY[8)XWC`=`'N.I]K=;2;WV]&?/=S'^49+I+!O2,8^^[G
MURV3ZQ;[6C]QL3D8VQMN/#ZXV..-@%$[9XB;9\C:_KW[04?_`*,Z9/PS6N/Y
M#\,0DLI!`\2#N<96@9.QQC.>-SVQG![F;;\C9(-:]H)@@XIG3+G"@K_OK7'G
M!//;C(BPNEJQZ/Z_;_NSYJO3[V!N>6_JSO$7T1\):?CE-=P/WD_L.7V[(]#\
ML8U#F)G4/H9TI0ZDRU(L[6_4B9EPM7C^<URNV':5.>6@83X2Q1:HVTL_2R'4
MI/A*HA8D#!VW!.-\E1)SSG<I'.Y]=HDG?*J]2YR\_:EO6;,/I,EH_P!.VD-I
M24NEW`9F+H>NK4:H*4VL^%#SPNF1\2DI'O&6I<+)]TD)C7A2020I&V/[=/GS
MN3@<9QD\X'E[.C.3\BT+IYO8N2:ILVN+^6S#LXDDCGP/@9\=ACIU@\9C4525
MYWM;J&0,V/4MMM8Y`$IV[R>TQ^C;2YA;;#.%/OK0RSG=/OGUAIKQ>$DD>]6G
M(V4I/B`P<$;#Z6^2:]`/YW4O5)K4'JI5>PL9F=F)=C4>QD4E5WBVDS+Z6I4Z
M8.3":8JO^/W<D9EQ],D4RIG%N#YT8!NB%J.WWK5HY8\JILS5YZM:96E+C91+
MUR7U;]';'AR,^)4Z`4_VVXP<QNL\)*,!(\/B\'A`P/"%^[Q@8&`G;\40+IGU
M/6:"]IUFC5*9D%/HJ3TUY.H-]<E"I!+`6+&Z4DOVV]([[Q)=`4F1J#53=GI5
MJ9#:Y9MKKD7X"4O*<(V/G`MWY8QSC2!OL.RK[TL\/"_+O/RSR<>$H>8<6P\D
M<'Z+C:P`3D$8SQG\0,$[X(PD[$\C/KR`#@9QD9.<D]EZTVZ;,UDU<L]Q*F'+
M3U6U*MAQEY24/M+H%\5ZDEMQ)5D.M_,_`XG'WP.3'6A4D`#QM@[\K3P>3@GM
MMC&=QP8O.7=#S++HM9UIM8/8%)"[V.V#S&^21@17+[9:>=:M[FZXV>=N!923
M<7'+PN=SSG;?(Z=2FIG3SK>T>F)]SW]#OW2+4VF4Q;BE-HEKKMBY+1K$XRV5
M>%"ESEFTEM]2`2O]0]X1X6P;</EBO[?'1#_!#K-SC_RXLCMG?OQC'<X,6X_)
M)=3):U/:)ZJZ?3<R$-:K=+MULT^6]ZC$Q7+!ORR+F84$>,%QQBB3=PJ2$)4H
M(4ZI6$H)BXSY8L4C7CHB\1`_6@UF.Y2/_#BR/,@X[;=\10"9/R/IX;7LB=E5
MSB.0LNANLN'O!>EW#?MOV19W7]?T=6R2P0P<$7X)]LC%R<)6D9W(O$-LC!)\
MQC;)!VWXVVP.>!VQ@$AQ;:VW&UE#B5-N(6DE*DN-K\2%I4`,+0M"5I7R"`=L
M"./B2H[K1@['"AL",G.3Z<YVP0!YU\0Y\:!N3NI))WV)W&"#MN,;X&-R=A!:
MUB+[7OW\.,@W[.?+86M5@!%A;(MFWYMK8-_'NY8MD*8]K1[3N79:EY?K^ZM6
M6&&VV666]:[N2VTTV@-MMH2F;'A;;;0E*$C[U('8C/Z_IM_M01_^4!ZN/7]>
MV[QOW_[\[&,>`4DG'C&^2<*21Y?W6<8^).^>`(H5#)\)21W^DWL>XW5D?#)&
M<D<QB/N?H-\T6D;"UZ?*'\DY/4BYW(R;[XC(>RE3O;RZ;[K/NVY<[[]@'+?E
M&\(BTGJKZ?=!->)*RFM<=$=(=9FK8G*X];36JVFMF:B-V\[5I61;JCM#1=]%
MK":2Y4FY*3;J"Y`2ZIQ$I+(F"XEAH(0C1S2?P@IWYTQ^J3$;"5WWJF_S6OKV
MHLT_2\^@+^\<Z/O^;/HM_P!2H?I>?0'_`'CG1]_S9]%_^I4(1>BMQ]OQDQ6L
M/TO/H#_O'.C[;C]C/HM_U*B][I9T+T2T+MBYJ-HCH[I9HY1ZY<#56K5*TKT^
MM+3VFUBJM4R6D6JG5)&TJ12)6H5!N2::DVYV;:>F42K3<NEP-(2@(1$];^\+
M_P`=+_7(C.Z<]]&_BGO[D71Q91U4=-'3CKK7;2JNMW3_`*):QU2WZ/4Z?0:E
MJII38FH4_1)"=GI6:G9&D3EW4&KS%-DYN9::F)J6DW&69A]MMYU"W$)4$(K_
M`$7\(9/XN:_5G8E.H/>J8_.8^O;BU97L\^@+)_8.='W)_P!S/HMYY_\`(KSC
MFS[/7H$0\TM'0[T?I6EUM:5)Z:-%TJ2M"TJ0I*A90(4E0"DJ!!20"""!"$74
MK\;[?D172=QXCZ8R[2S33$NPRRVVRRTRTVTTTA+;;;;;:4-MMH0`E"$(2E"$
M)`2E*0E(``$6"=2?25TJZS:DF\]8.F;I]U7O#\SM&HWYK-2M&-.+ZN7[D4YZ
MI.T^E?=VZ+;JE4^YL@[.3CDG(_.OFLJY-3*V&D*?=*T(I[0WO\?T29_O-Q8.
MI/>Q?QS/TF.@/TO/H#_O'.C[_FSZ+?\`4J/L-/>A/H@M.^[-NBUNC?I5MJYK
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M<NM?3MH5K!<=(M@4.DU_5+2.P-0*W3*(*M/5`4>G56[+?J\])4L3\W-3OW/E
MGVI3YW,S$S[GWSSBU(1'M%>_\O\`$S'U9C*ZB]ZW?C&?K$Q;'^EY]`7]XYT?
M?\V?1;_J5'LJ-[/_`*#J=6*14*?T3=(TC/R%6IL_(STGTW:-RLY)3TE/,34G
M.2DRQ9B'I:;E)IEJ9EIAE:'F)AIMYI:'$)4$(N=_W%W\Q7T17[/NK7QB/[PC
M+?\`E]O,(0C6R+<A'Q6H%BV1J1:M:LW42S;5OVT*S(O-5>U;TMZD73;=5;2D
M^%NI4.N2<]3)Y">R)J5=2.PA"/73_?"1_26?K6XZ9CW![XM?]TQJJ_:]:5Z8
M:7=3>IE!TSTXL/3NAR-QNLR5&L6S[>M&E2;/O4#W4K3J!3J?)R[>"1[MIE"=
MSMN8Q$2Z4JF)=*@%)5,2R5)(!"DJ6@*!!V(4-B#L1L=H0C?VB>]4G^CC^ZB-
M<JQ[YO\`YX_9$]3Y,;T^Z"UR@7IJ36]$=(:QJ+;%0EG;:OZJ::V94+UMYQ<L
MV5N4.ZINBO5VDK622I<A/RZE$DDG,3*D?>I]0"?4D;D^I[F$(U(Z7/A6[\0G
M^^J+KTC[T-?[OU:8Y0A"*NB40CU5<D)&J46L4RIR4I4:;4*74)&H4^?EV9R2
MGI*<E'I>;DYR4F$.,3,K-2[CC$Q+O-K9?9<6TZA2%J24([&?=6OC$?WA'ROT
M%?FJ^@QB2'L\N@%*4)3T-]'H"4(2D#IFT6`2D)2`D`63@````#8``#B.0]GG
MT!X/[!SH^X_O9]%_,?\``J$(V0'+U?\`[<5#%W?2GTZ]/N@[U[NZ':%:-Z,N
MW.W;Z+E<TITQLG3MRX44E57-*17%VA0Z.JK)IAGYXT],^9@21G9LRP:,R]X[
MQ80BD=8?"*H?\+^IR\610?>J5_\`&^O<@0""",@[$'@CR,8R=8^B?HSU$U/O
M2]M0.DCICOJ\[DJR*A<5W7CH+I7<USU^?$A)RPGJU7ZW:D]5:I."6EY>7^<S
MTV^][AAEKQ^[:0E*$9;H_P#?.<_0?_Y4O'BU1^`L_I*?JW(ZT_2\^@+^\<Z/
MO^;/HM_U*CMO0KHQZ/=+M5;4OO3/I0Z:].KXH#M4<H5Y6+H5I?:-UT5R>HE1
MIDZNDW%;]K4^KTU<W39R;I\TJ3G&53$C-3,HZ5L/NMJ0BQZQ[S57^SIS]57$
M/D/PZ2_2Y;ZY$9)<#&,#`Q@8V&-Q]A`QY8C$]=/0/T+5VZ;CK=;Z+>DRL5JM
M7%7*Q6*O5>G/1ZH52K5:J5:<GZG5*E4)NSGIN>J-1GIB8G9Z>FG79F;FWWIB
M8=<>=6M2$0#H]_"JC\3+_P!]V)5JKW"4^-<_N)CT(]GGT!XS^@<Z/L@C!_0S
MZ+Y'/_`J,DFA&GUA:6:4VE8>F-D6AIS8UOR]1:H-F6';5&M"U*(U.UFHU.=;
MI%NV_)4^CTUN;J4Y.5":1)R;*9B=FIF;="WWW7%H1E]?>]$I_:+7ZI,QC]+?
MAS_Z(OZYB.J.JO0#0?7BF67+:XZ)Z1ZRRULU*L3-MR^JVF]FZB,6_,U23E6*
MG,4-J[Z-6&Z2_46)259GW9!,NY.-2TNW,*<0RVE-F0]GGT!8/[!SH^V&W[&?
M1;S'_`J$(R6C?@](_GS?ZZY'EU#[ZO\`YC'U2([*T<Z)NC+3S4ZS+WL#I'Z8
MK&O2VJP:E;EW6?H)I5;-T4"H_<^>E/G]$K]%M22JM*G?FLS,RWSJ1FV'_F\P
M^S[SW;KB57#=56@NAFNM'LZFZW:,:3ZQTZW:K4ZA;\AJKIU:&H4E0I^<D&I.
M;G:/*W=1ZNQ3)N:E$IE9F9DFV'GY9(8=6IH!,(1CZM\-:#^B*^F>CVR/P<J/
MQQ^B6BR[]+SZ`_[QSH^_YL^B_P#U*BJ?9Y]`8*<=#G1\-P=NF?1;D$8/]A7;
M`Q"$3H;J\?V"(O&3;1ZR;,TYTQLJR-/;1MBP[+MNAR]-MVT+,H%*M>UZ!3D+
M==1(46@4.4D:32I)#KKKB961E&&$K<<6&PI:B;6^J'I9Z8M;[ZHEU:T].6@^
MKUSTZUF*#3[CU0TAT^O^O2%#8JM2GV:-)UBZ[>JU0E:4S/3T].-4YB81)MS<
MY-3"&0],/+6A%2Z;^&,Y\;5/K5Q.ZQ[PL_F2?]U$6VGV>?0'G]PYT?<#_<SZ
M+>0_X%1^C7L]N@5M]MQOH>Z0&W&WFW&UHZ:=&$+;<:<2XVXA2;*"DK;<2E:%
M)(4A:4J20H`A"+75^-]OR(@J=QXCZ8R*Z\Z;Z=ZKZ3W#86J5A67J38U9^XQJ
M]F7]:U#O&TZJ:;5Z?4:<:E;MQ2-1H\\9"H2DI/R1FI-TRL[*R\TQ[M]EMQ..
M8>SSZ`R=^ASH^X/^YGT6\C_P*A"(/H+WGF/[0F/U65B1ZH_#VOT5'UKT?9:=
M]"G1%:&H%EW7:?1QTK6Q=%M750Z[;ER6[T]:1T6OV_7*74F)RF5FB5BFVA+5
M&E56G3;3<U(5&0F6)N3F6T/R[S;J$J&4[`XQL>1\>?MA",)T@_AE-_1'/K8R
M>E?P::^/3]6(QCZO]$'1;?FIUZ7G?/2%TO7G>%S5A=7N2Z[KT!THN*Y;@JTS
M)RHF:I6Z[5[3G*I5:C,!"`_.S\U,3+O@3[QU7A&.MOTO/H#_`+QSH^_YL^BW
M_4J$(L6E^]M._09/]7EXB4]^&37Z0]]8J+V>EC0C0_0J@792M$=&M*='*77Z
MY)52NTW2O3RT=/9"M5.6I;4C+U&K2=HT>D2]1GY>20B39FYQMZ8:E4IEVW$L
MI"!=1"$4QJCW_J7QK?U#46'1O>N3^*_^M4<5\9[C@]QVV/;8D?"(5GRF#ITZ
M?+25:E\6IH3HW;-ZW&IR9N&\+>TPLFBW37IDLOJ,Q6;@IM#EJM5'R0"79Z;?
M<)`/BR!"$37HB^%"?B1_?$8G5WO6KQ7]6J(+=00A$],H0A*$)FGDI0A(2E*0
MZ0$I2```````,`#`C*)[)_333C4SJ@TKM_4C3^R=0:#/W;+2\_1+WM6A772)
MV7)5EB;IM>D)^2F63W:>96@]TPA&VE6]ZIC]'=_NF*1H_OA+?&C^^(VO>G-B
M6/IM:%"L[3NS;4L&T:/395JD6K9=O4BUK<I;18;!;IU#H<G(TR1;(`!1+2K2
M2``1@"/NH0C02I>^$[^DO?WU1LA*_@S'Q2/[HCUU7DY.HTFIR%0E9:>D)ZGS
MLG.R4XPU-2DY*34LZQ,RLU+/H6S,2\PPXXR^PZA;3K2UMN)4A1!Q&I]GET`A
M*4CH;Z/0E*$I2!TS:+`!(``2`+)P$@```;```;"$(L'H[]"J_G2?T3$135?I
MR/YLQ]+,<OTO/H"_O'.C[_FSZ+?]2HN\Z4NG7I]T'=OA>AVA6CFC*[G;M]-R
MKTHTQLG3M=PII"JP:2FN*M"B4<U9-+-1J!IPGS,"2,].&6#7SE_QH1)-8?!V
MH?\`"_KDO&)H/OK*_P#C?4.1U+KWT<](FK&J=S7WJGTK].&I5\5@4=JKWE?^
MA^F5Y775&Z;1Y.GTYNHW%<5KU*KSR)"088D9)$S..IE9-EJ68#;+:$)Z=_2\
M^@+^\<Z/O/\`<SZ+<^?]A4(1[Z#[STO^SI']6;CRU/WQGOTI_P"L5'TEF]!?
M0S;MX6G<%O\`1ATGT*O4*YJ#6J'6Z/TZZ04RKT:L4JJRD_2ZM2JE)6<Q.TZI
MTV>EV)V0GY-YF:DYMAF9EW6WFD+3E=P/(<Y^O.<_'._QWA"(#T@_A-,_1GOK
M$1*=+>X37QK7U0C%#>/05T,7!=]UU^O=%_2=6Z[7+FKU:K5:J_3IH_4JM6*Q
M5:K-S]3JU4J4[9STY4*G4IZ8F)V?GYMYZ:G)M]Z9F'7'G5K5\Y^EY]`?]XYT
M??\`-GT6_P"I4(19DG^"R_Q#'U+<0U_W=[XUS^^J.[NGCI`Z2](=4J3?.D_2
M[TZZ87M(4RN2,C>&G>B>FEE73)255D3+5.3E+@MJV:95I:5J,L!+S\NS-H9G
M&`&IA#C?T8^^ZJNFOISUVK5GU+6_0'1362HV]2ZM(T"?U5TKL74.=H<E4)R2
MF9^3H\U=U!J[],E9V8EI=^;EY)QAF9>EV77D+6TVI*$0V8^'=-_LQ?U,]$A:
M^#$Q^E)^M8BU/]+SZ`O[QSH^_P";/HM_U*A^EY]`>,?H'.C['E^AGT6Q_H5"
M$3N(S%?TO/H#P?V#G1]R/]S/HMZ_\"HX_I>70%_>-]'O_-GT6_ZDPA'`W5X_
%L$(__]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>17
<FILENAME>g75877.jpg
<DESCRIPTION>G75877.JPG
<TEXT>
begin 644 g75877.jpg
M_]C_X``02D9)1@`!`0$!A0&%``#__@!!1$E32S$P.#I;,3-:1$DQ+C$S6D1)
M,38W,#$N3U544%5473(V.#8W7S%?5%)!3E-!0U1)3TY?2U]/4D<N15!3_]L`
M0P`!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!_\``"P@"%P)J`0$1`/_$`!\``0`"`@,!
M`0$!```````````("08'`00%`@,*"__$`%T0``$$`@(!`04"!`\,!@@$!P4#
M!`8'`0(`"!$)$A,4(3$5%A=!46$8(C-55UAQ@9&5F++3UM@9(S(X67-W>9:A
ML;@D0G*9L_`*)5)BDI/!T2@V@M+Q)B=#1>%C_]H`"`$!```_`/[^........
M........................................................:ZM*
MW:LI"&%;&N.QH/5<!!XTR8FEARD)#8L-V5]O"*3L[('H\:FX<;:;)MFOQ&SI
MTKX2;(*J[:Z9@WOWWL&W&Z6>EW3N[;^%OU&^HRXK5PWZD]=%VKC*FN##677$
M.S<TT`9SI[QH=JCK]8`4LWSHY&%EVRR+G?L;5=ZF]H(:;3KL]UQZSL=G.5-@
M/6ZAB]SS1HGC7]*BE<'9"2(0U[KG?SA53]#*RWW3QX1V0WW]O3V->B$N,KY=
MV-WZ[ZSY55LX;N&K"U*RI,5C5TALAOEFRZYTO4CMGNCX14:.,%5GS95#571Y
MG=P^R[]9MZ?=?("'8U3L!WJ=/7.5M4)`Y[T=G-S@Y%QNQ46;L%DK#1'Z);[C
MT<_](&.E=/;7QHKKJKG&/(WZ!/AGP:D$[P>H#`G3+"V4G.>PPZVM%EEG&CG*
MK\=V'KVXAC_779)-'1NLUPW1:X4;MTT-7#G*OF;T5ZBM=*OG]:=X*ZNMMG7&
M4(OVSZPQ9$BOJGMG&C5I9O5F043J%RLCC7WY`G4\VWPYV5<IL?=;ZLDNFGW#
M[2T\YRQ[7]%["T`HK(HJW/TPDNG;2M4T/=[JN"1NM\`*T[2`,)(Z947:`J/L
M5FVSC9/4\YS[O*LM*([-4#V;C3J6T+;,)M`.,=:CC^L7-(.341+YPIG>/SF+
MN/A93`Y*WPDIAY&IF%`GF6^FZ;H<BIKMKC>O''''''''''''''''''''''''
M''''''''''''''''''''''''''''''''''''''''''/A131+3913?73337;;
M;;;.,8UUUUSMMG.<_+&-=<9VVSGY8UQG;/C&,YY6(<[CV[V>D!"N_3DCD,E\
M9%/G@:?=Y+4:ER?5F$$F;M<>2`4P"CI8!).WUBB7+=PB3;0"31&CXL]17&RJ
M\<2P>Z@2VR*C]/>HHC,Q=U7@9DW;SLP/52>L[\[%IQZ3F(4]PW3359T978H,
M)J?KQ'-5?B-D!=10R.F'R:WOI?)Y<9]\97GIC777Z8^?CQG.?.=LXQ]/.V?.
MV?KGZYSSZXXXXYQG77;Q[6,9\9\X\XQGQG\N/R9_/CY\AU?O1/KSV!D+>R"L
M<)5I?HE!NC%>SE(EMJL[%13#/W?P;9G9\>;8(26.IX3PF]@%B-)M6I]ILJ-D
ML-,C%UV:D>E;\[/]']5$NYR>.Q76IAHOOKW4J*OU`\\J\6W\JX?=N^OT1U(M
MVL=9M/:W-=A.OHYQ!!_N'9BP:8IF),G,GVLJB4NBL]C(":0>2@)C#Y4''R&,
M2N*F1TAC4C`EVJ;T4;`'A#EX*,AR;-5)V/)CG;ED\;*:+-UU$]L;<R'CCCCC
MCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCGD
M'SX.*@S,GDQ@5'8Y'11`X?/G2+,0$!A!#-8@5,&"Q!9NP%BA;!LX?$2+YP@S
M8LT%W3I9)!)136B&];^#=L8%O?'84[9=+>DDM+X/`(?&XM"+'<VQZ@96RY8,
M@<)DUB#X.*>617?2^P9M((U$ZY@(T6)EG9I(TTD-G$H[1,A'PVP+U8J(`1V-
MQX!%P+&+1L(#$!H]&18AJ!&1P&,'H,A``<$8(-V`0>&8(H#F8AD@W9C46^C)
MLBDFCJGK[_G'[GU^N,X^GY?R?O\`./;U\>?G\\^/'L[>U_\`#X]K\_T^GS^G
M/(:R./OC)>.LC8EV?CZ`IT="-B#5<L';'='J@1P3')*[NV*)?0<0W&*.44M'
MVK%WLURKJW5SKZ_M8\>?GX_<SYQGZ^,X\><9_-G'GZ8^N<<CO?7:2I>MI&IA
M%GKS1,K>4\6J^K!T-K6?6,\E=A)1<_-M8FDA`X](-Q9)Q$HI*9`U5-X&CW`^
M.E]TWN56FR6V64=?-3]D*X#VQ3$P:32#&GIT4@309%A+X<=BQM]&I5&I''3[
M`5)(I*HK(AA$#)XM)A(D_'C+%T.+#VKE';3FVE%4TM-U%-]=$TM-E%%-L^SI
MIIIKG?;;;?/C77&NN,[;9SG'C7YY^7SYXK22A2L8:S`"^1DT>)`D)(%)1I1,
MZWD`9ZPT)C7T?5';KHF4"S)5%<4HP563(IN&^S7=359/;:#8;U-^ITDA/7VP
MXR<M22Q?M3(IM$^OBP#K]>!8K9Q^O`<EDTL8"(XT@:DB&_`QR&3`XS=R(6&9
M&QD8,.@3DDFW3][FC;OWU;D,"I6>P*P5K3:]C'DJ84A&*UC4DE-@3]]7ZCEO
M9*+2#(#&TEC6M6.V;D7:KV;LHJPK([JE')P\!2%\/%/(%1+;\"SRR.RWIL#I
M#8-21ZRCHONGZ:V`3V(RJ*SK35I(K`FW6BOI6E'G=)=E]&)QA8)ZD'"3&F>U
M80PC*8CB-V'-1%GRZW"E+KJ[L35T.N:F9B+GE;SP7DK&Y(*PY1T7T1<KCR0T
MD-((-"\>DD?+M'\?E<4D#`9)8E)1A6-R04,-C'S%#:?'''''''''''''''''
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M!84=8Y^$6CKYF*4SL3$"]0BONM_=BIX,WO6667TG8=B`'6"R))/)=+)MVN#W
MK(A=R0,^#.G9!NYG5B4QUZ,NZ%!*2159FVN/VE`/PA4(P=C-3SYO)_T/,LLG
MK9:G:J21.PKZWGD8IWLO1G:JJJ:)DX_UYD(R<4O#ONPS$]INNF9"67&'H193
MW21UD+[>@TD(E#I&3)/!>,6)@NSD,M_O!<T?HOM9!F-PVAZ1EC7*!U8W)+)@
MOU!7JRJ@/<N,0631Y%Q'YA:-=/!LCC%@!ZP4_"VPC["=[PH6+1.(+.,[=UM<
M4[N^D(`\-]OG71V<^I;V#%5]M%9MV8ASIGTYEWIZE&#]A-Y37YD/,(E2.O=Y
MX0"T'*)P8#$8T->,TZ_.`(.\C^_+!_4GB$E*6#Z5H6$:6<WT@O?@/+I)-X9!
MY!9[JN(*(ZH=FH`I-)H4=QF:A0P=>4SB'11W))YKALL1DZ3O=RHZ37>M8%71
MUDDO4Z1W+0L>>=K#-7S[I]>MT=;[F@"\Q(6++/55M2X[/L"UY?+#E*A(R&%W
M1*=C%*O*4&20=&*Q2CX>P(_&AZ3-:>IO/J<C.X<KMN:UE9`*3W++[;ZB3BL[
MA;PUM?M7&:)N93T]6*LC7B!,`[_0]WMU5LZX6CH%"WX-*'636G9>>E&H<S)Q
M.I5A&)T^GR+[3P+K#T4%C(]7T.Z[1+JA2C.ZH[<X#L<%[5`+"CE5(L;&%BHK
M+FB+,4R%3$<P8B@IL8VU3&M3"<<8["5(ULM6+UPKBV&W6_\`]'WA3B+WO4TQ
MJ&^.PSJUS&E$3)P?I%H3ZZ]L84)*V`'F==F`D,&2*56!"XT*+3D2W%O5)4Q>
M#%U4],OFTP(3T\%^F_W?ZW6Z*2M.PNKN_4CLSU\F%DF&Q&R9?`.R%U]I(YVM
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MYDCLX=OR#E%DQ;(:8SMNLX>NMT6J*6NN,YV455TTUQ\\[8Q\^0LF_J7=`:]=
MN1<B[A=>E#[-15%S%(S9\9GDS371U5V4;_<R`O91*MW.ON=]/ADP^[C*GLI8
M3RJHGIOX;OU(Z#70;KPN"=N[33=MV[QH[K/HUV^DP9XQ</-F/QS&3K4R+BSY
MJDKC1511H;6VV9K)/4-%FF=E=//'=^9*;413`=`?4(*94+)BEMG]-5A!$VGO
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MA.12@N7.$UUWY!RLIMOQY_\`XYQ_PYQXQ^?^'/\`]^16M#NEUWIZ1RV-3J8%
MVKBOT(<K9!8%`+"F47K5:PW39I!1UB2F'18\`A925_&,W0D;('[%WD6_%F'R
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MI*J:8?=79^FNOM,HW_:1XN%K!=[70W4Z-B,LE*J+NUY+'H?!L/1$8$%B`QH6
MD4J!#'!<DV9B!"A!-0R18-_:5Q('&^F<9SC;&,>UMKG.<^/TVNV==L>?RXSC
M/G\?X^<_I?RY_AV_^_[W[OR^O.<XQGZ_PXSG&<?N9QXSC][/&,8Q\L?_`'SG
M\^<Y^><_GSYSGGGEQ(L^*)`S8T>9#&&#P66$%F;<B+*#"#95F_&DA[M-9J^'
MOVBRS1ZS<I*MW3595!9/=)3?7-</1@B1H&=6MZ>$N?O7;>A&(RQ^JYDP4>$R
M,KZ9SXT580:,;/B3MX^?E^LTN8%Z!+^\7<.4H,*IL^36PZF.NO++^.......
M........................8E.I]!JOB9Z>V3,HK7\&BS!0K)IG-I")BL4C
M@Q'.N%2)Z1'7C`0(8IYVUQNZ?O&Z.,[8U]O.V<8S7YKWXL&\/=H=$NK%@]@P
M;OX7+/L!;I!]U8ZK.&KU-?"92-SR=Q,];UMB]-]-%D#5,45-X64;Y]IG.=-5
M$5=_22ZW=Y+;W:O;\[P*50'<,T<DJMZ1U9&:\::KZJ:;K#25Z7BC<]IFVN=-
M=T%#4*"4L2<8WV<-6PG?W2:7KC/2UZ0[$TC]C4\MV+DNB.B>\C[96#9?:TGM
MOIOJIA9LCV!E]A!1.V%=,*)I`PXMJAMG;#9NBGMMIF:4(K:O:S#I1ZN8-#X`
M`0]KW`2$Q@'$A*/M9USMA(='F`UFGC;.NN=O81U]K.N,Y\YQCQF?LX\>/GG'
M_O9SM_.SGSG\^?GSC"2>/HGIC]S37'_#'/KQC\F/X,<XSKKGZZZY_=QC/_''
M.,)IZ_/7337/Y==<8S_#C&,\XW2T4QMKOC.^N^N=-M-MMMM-M=L9QMKLGMG.
MFVNV,YQMC;7.-L9SC.,X^7(K6ET5Z978\=%;6ZK]?YV?=X7SF5'ZE@[B8MEE
MT]DMW8^9HA6\L&/]==O:1(CC35^W5U37;N4ETTU--)*>G8,@C;&>K_:7M[UE
M=-$?9&AA%U%;^K%'9--71!CO4W;)M>D5&`\;*ZY5&P?>#N?=I)(LRC'737;'
M5<2CU+Z'V;?>*O*.[U0=KJT2?F:?)*=5NPJ#?3.VSMTVJVTI'.J)L`CE+S[6
M&MY4J@JMIIJU$:Y7]VCMNA^]W7Z^9:K5;,K*:HOUB+R8+];K^AIVF+Y8C$]5
M,NC`J`S-NR4L"*L\I[)K3ZJ24^KW=3QJWE:V=M?,R,9QG'G&<9QGZ9QGSC/[
M^.<\<<<<<<<<<<<XSG&,9SG/C&,9SG/Y,8^><\K7I]+>_O4+[&76^43>PGIY
M%1/32I$,+HO&6EG6&'@=^=I9@VTW3SA![L.(=?*I261SHY8N().&&ZN4B:Z.
M+*>..?SJ^H`WDM8W?V`[!].I5.@?:9!:H()9_2FQZZD,YZW^IT`VB\+:Q<7%
M63\'G[O6D"CTLVKI>YJL/JI09.#ICKG`[0MEN98ZO(;6K2%W=W'R8SLF%K"9
M^LK3ACLY(V3B]E6S3HO8G3:K&S:P(.=<KNF2$`;]E``.)67+ZB?8DD!J,5)H
M^4>1:L@641&+L[1O6-S..0'ME9'<".=`+#D?J"0?JE?%2:7:0MY:1KVM7"/4
M=:QY=7@>5640W%URYNC7JH<LAF1C5G8#0XS+6$Z,J1%73((/,+2K/U.^Q$CL
M6,=@T^KMF6]T>$32P8ZG.8K:36Y!O2J(1Z!'[;VJ@:/CLNZ]-)>PE\)[!:UZ
M[Q'8'=F\.TL-!&J4)"U8Z=JG/;"LK#ALDZX[7:RFUD]RO_2`T-X$?<6"RHZ1
M8D)2Z;8ZC%YG`Y%AE5X89-;:1K@Q7MF%6`LA+$Y4Z##):3`F-Q*7OV'(+SM3
MJ)VN2KPGV+L"`V7Z$MY#>S->V:/LV2RR/>H\6C^D5BT,#QJ8(.ST7NB7ZF+A
M!6A4U?AQD=:(Q^K"+.-#69F).3.,][I;,+#@?:^H+/1[#+2"/(^E=*ND4#A0
M6X<PZP:!82SK/*+]/#H=7@QQ';$EH*VV5L"[893T:8/Q2.QJM,-A8%NB'?OM
MESJ==@IM^C9=O[][=5QVUI2)^I^-+T%6E<WH#ATJKUZ.M9STKF(RPWLA(5Q\
M$F'9T4:Z[26B@P&VY#-RDGK\JK)?B+*28YS(C]PTT,Z&2N'6#V#O!665U1EF
MW-14[MSLJ'NV93FQIQ3D8FDYH6<*[FHD:FD#)BW_`.%KI=9T<`UUO5#N;EXC
MO5[AW.WA/^F77/G'G.,X^>V/G^/QMG&,X_-G&/./S9QSZXY6[W_QFGSO63NR
M-VU;J]<+A#02V%-G2S9$CUA[0'(Q3UNI/]6^N=EF<`ESRI+XQ[>V=$\U"NCC
M&NCY??%C?OT]?TNV?TV/EMXUSX]K'RSX_-Y^G/WXXXXXXXXXXXXXXXXXXXXX
MXXXXXXXXY#SM5VNWH5:"5K6M<E;Y[.70N994O18$PVC6A9M'4FBLMLBS9R\9
M%!]44;7FA(5O/[+)"C"[9X8`Q"%QJ:V+*8M#C&HZSZ$YF$F`7?WRF8WMO?0E
MZC(8I'28!05U8Z\EL*;.F[/KO0!5Z9"MS0)3?#=M>EKJSZ_"NR2KAK,8@">(
M0L38[C777YXQ\\_+.<^<[9Q^+&=L^<Y\>?EYSGQ^+D)>S?92?4S?72"H(?%X
M<=']LKJG-3'C<F*'1SN"LX+1EDWT^D0EH);.F\B7?`:N,1UN(?+!4D2I4<26
M*[,FSMKO\C/4CZ+F?M?<9V?J9XU!0&T[1*$T3ZOV*V@-'R;>(W')L'-V6H=P
M/JXUKC2?8:/EW45'*(GC#9I'W"!53=1+LK2(M@P(+3X:Z2,1.$S<&V#L#I\K
M(8Y9#T@/@#V-`P0DB:DB\T=B2J47%`AY`T;P*)K,!JR`]XJAB,;[I=7)D.JX
MQ$+IALK$7+J,S7Q6-+D3PLKN:E[BO!"!,@*'.VD2=$["8DZ_8,YFK'G;N=AS
MD-00WDH,N+9:PJCU(^J-NU.]N@#/'8Z$I6K;52"]S$7E:4@D9ZG)-,P$J>Q^
M(LP;V5%!J0^"2"9.-FH95U'X:U4-RQL`3:OTFF8EN_\`TN"RF"PM]V7J':2V
M7%H#.8(-82UD7^\\&M%RZ:5_-QCP1A^.4ADI59N,BY8J\1C^R*?Q*Y%!LHDM
MONVJ[IK2ZQ18S6<G1DC$$5:AC&?LTX'=CWS\"&E8W1R-D(L03T0,1:0@I*$?
M?!Y8&@!D49%.G@U^V<J1$BGJ+=;@-;!9C=/9#KND[EQ+LX=A3FKCLK/`Y/6G
M7JRY9')&1!LWPE>3GCM=1P2.'VUN(%N!+*<LI*E&_BP3=FKG;/87NO0W7'K!
MGMW*Y-O)*7?#:Y*1:1P-OO*V\S:VX7CP6N'4;<C<*LW8N5.I2%78G%7"`;0>
M[T(.7R+;QOM&VE_4H@$D[-]CNN]R2RL*](Q'L_7-!=;]$7DC:E+;1LKJ_6G8
MB/)%U3B.&(^9E])B?$!0^4@C8PK&W0L'J9+MG.-]RP7NU46M?FK`LJZ*4?@E
M;BOV&Q<[4SJ:28$E$:AL`O&WBDIW7#.B#$]7@UN-&7=)$6J-;Q&9KJ,D3R(Y
MX)5>3B^O-%WYUGH?M!#DH+?-81>R`#%[J6`;F6JS:00V0):8T:RNO9D'<#9E
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M_,.-T!\6A`]PJTVD4C?ZI*-`;!Z\;O&83[26;.)$\'%&L?;DW`HBFUU8EW0Z
M[JA+*-YETB0VI_2NE++C+VJK>'6)#DK:*;!JY6,5@1@;2Q4D9:]37V%+(Q==
M+<>V=EU]T!35R\2V17=\57:LQN6`P23_`&U+.OT[&5I;8E0+(!.\3FIB$QJQ
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MM2H?!_.7J:@O<T$3=IIJ&1>CO6U*]ZNI_8<^`BU173&)7()<%ETBAHG=I)(X
M\FX6OI&I$)^2@R<N!1_$U;024)Y`37:*[%]HF5V39R#0<JJGC?N1?NUU@F9Z
M(`HY:H]_I8DM.0*N)8I'YD/K*S)M'?M+[6B59VZ3CC.J[%DB.0IS#<-"YD<?
MDM@)_44B_P!@97#38/8ZI!M^]?[LI`MHDH-MZI["K9UE3;5/"6LUB9:/).DE
MMM%/AG#-R_0>-7>FN56KE!%REG"B6O(@]3^_-43;JSUJF=E3Q)&Q9=0%-R>?
M(NFV^KI*:GZZCA65)N=4L>[U7T.NW^JV$_TF%,;8T_2^.63\<<<<<<<<<<<<
M<<<<<<<<<<<<<<<<^=L^,9^?C.?&,9\>?&=LXUQGQ^/YYQ\O]^.5K=``R-J2
M#LMW7DZR)V:7G>]L5/`2"VSQ;>#]:NK-J3>CJNKL&B]WSH&'G)3#[`NJ4-&3
M=JH1FUGD-RNSS(41LTLKXY!3M)UXM.W.P_0JW('M`ON]U5O2Q;7G3&6220!3
M1X5-^N5N4,@)B*`B&R5@X),5[1UDRRILB&:*H!-Q2:F%B.KYE!*C_2]MR(R_
MJ4M:JM)RR`4Q-/5?(VQ&FI^7F-)K#/45M<M8$?`BV!:O!3,CF,!#+J+SMH:=
M"VA#'MN`KEZ@OENGU5/2[O\`B/5VAX<!L6K[IO;K#V7B%C0YM<>TEC];W#UW
MIV$6;UQIVBK+E(*/2V2QD\'ZUV!DLO88R&RS1O?:1"5O`$A&%7Z[C*2GIZW@
MC.^MD[J>.T%U=F-<%X8?ELJZTS>?U_%$`A/L<=M^_:.G5(-X`S@7:>M9_#2V
M[>.S*Q<PBP`-\%99=0/,'=21XRU\RH/3T[1=?)AUYLZ)G:9GA?KC>_J5/1]?
MD)=-HD%LBA/4$NQS>[,H1ECBNI4O![GJB6L(H(V',HY)XM)8FC*FNLK8/S++
MX3I=3O2RM;JI-6#H:9I:P(8P].60]3,L)-B2I,W=IRF_K=[$%_>P52)$Q>*#
MR<MA>!,8\O*7<C;PL"/3>,""F^R.DQ?3RZPW/U=A]E0^PY@JM71651,A2-.N
M+3F]^XH2+"(#'P4E@4;NVS@<?L61ULO+QQ`E6,,E+<FM641^"CH\WL/61C\=
MA'6/IC]D(46ZR/RIZEG25%G?5O-&M&,PG2BAK'J'V5([#KIN)RZK)MA+:!8,
MHA9NN^REE7&B[^.ID]?98[[OF'I^7%)?1SJGT^&TJK5C=-7T3U1K=*5.'\J<
MU>9E76&45'(\.-B2$9;RYA'IIFK<ML.]8HZ*1_4WJKL++[#]M'>LYSZ<78V:
MW%:=IJ&:58Z6%ZG71CO4@-3E<Y559PCJW3-45E,X8LMO6VFN96?)UHJ2BF^O
MO`NP\UIH9(BW3%1-U@<L],+LVO4!.)Q([7<4N-/M'Z@G82IK^KR\+5KF?429
M[8W2[M:M'S=0=6+P1;<%8,39.*]C.O5@!GE<6JP$1MPV=NG;`>N%OY$MW[06
M.;%'R1,DW8LT"!%!E@:@_?)-DDWCU$=JX=:L$G;G55PFRU<N-6FBFK?5=7"6
M%-O0YT28T>8'/A15BR*#"3-RP(#2+9%Z/(,7B"C9VQ?,W&BC=VR>-E56SMJO
MINBY;JJH+:;I*;ZYKO\`3O15JYOV8Z<)DW!2+=-;[UK:GMW;LB1>".O]E577
M=^4]!'1`GNLY72J,)9K^GH_A5V\<8AD!BRCMQLX5WQRQ[CCCCCCCCCCD:^Y<
MCVAW43M-+M'^PK:*]<;SD>"FJ65]AN0=62PGJ_U0U1<;+;,]FV'&$M6Z^RF4
M\:815\^QMWNIT<5AO5;KA$=DV22L5H"FXYE$9I[`Y)0'6D8&92'I^Z0QHRTW
M:YU::801QJAA/'ND_P#`UJ7#BX-/J]];<!V\$6"2`G>Z2=;R]*#('\65&:#7
MH/JLRH:3US]U&A*2M64/'R1W:D;?`&9/=G+-):92'+DLE1^T1+-NSN)7'7CO
M'"Q/8;?LOFCWWI^Z4EZA].!V4,M2R8Q-.S#=O,.M=PKP!-Y#K!L6GJV)2`]-
MI?6B`UH_@MJ-C$T"1B3$R6N=T35I=K>3^ME:-`2"?";`I[NOU1[,1^/0=V2%
M.KXK6E>FO5-U;=/LW+5OAQ(@UIP^'V;6++4(XS[BP6[!%L^;%PZFB?0[.WK<
MWVM5+*UNP=Q]/*8[@43?=L59<`Z/7#)I+778623>"/:#I%N)K*91W8%9T8Z]
MJ#Y!#J9FZ<DKZU;3Q;4=WB,S+JB`XZ5/0IG;$V[C]V7=O=C^P4[6H"S*BB\`
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M5,FD42G`F-UZ)7B4?7ED&@%@VM.)W8]EPH=(,N"VY*42`HG!)&0D=<L"RB<6
M=AP%,=(T#=$YZ''.T]1RTQ,;HZ071ZPM[=0>OD>KX:T)D.P5FW5VJ%5=)YH0
M/KDI#8+-6O[`(2ZL(&+$Q&/35U,(XL?VF8EL+9.MUR*[K@=?A@>=9.U)<CU;
MDU)]!Y1&;0[*3RV-8M'^T<NN&6CK6H"47K&T'MM4D+N&H!,.0NQW'T]W'56=
M&@IA&.Q=&3%H6_\`,ZNSVYIYW9JF[`5>70SL":>DL-:5?6O9.[[4_!Y([:@G
M;*S0$W&22Z(S7TKBAT6^A;6*3`78J-8JD+$AA"MK+=Q)4P:9.VTRIA*YZKZG
M7IKG+VC\#KB=LNI7J.#YV%@,]/617,5?R6>]1'<"9ZV3(Z^J]==U+8Q`I&88
MH'(?&UEG@*3CQ&AAL!6)KUP=3.A=B=L?3FKZPX_;Q4)<-%5AZM4.ZF5\.CS:
M`9@=[=L9/V6J^/V!9LN*/W<P)JLH--FSR&#VS*$Q]LREC";D64C581YXVV[>
M1<%?OI%]6.DO7<*0C';];;H=6L)H[+$F)L_JI976NSZ3D%B3"T!.&GVW6$;Z
M^BZVE9E_.CC9C'I:BV"L8>4DR]@15N>_I@]G/L8QX_\`[F-OG^3WV-\?7YX^
M7S\?B^GR\<_R]^Q5OS:M.P5ZUPRGD0`LZ_N.SH2T!)LX]LF%;12;&P2`G3;<
M&KOMH.28:,]=MU%-LZHXSMOOG.=L_P"H;QQQQQQQQQQQQQQQQQQQQQQQQQQQ
MQSC;'G&<8\>?KCSCSCSC/G&<X^7G&,XQGY9QG\F<9^?*Q^I4I;=<;_O#HG/W
M6H5>16#;G:_J0_?_``[8=9U(W//GUD6W#XRLG[*+B7]<[NG$L"2N+ZXP0&59
M,J>ENN';,T46&V<\<<<\LV:%1P.5D!U^U%!08U^8+DWJNJ#,<+&-%GQ%^[6W
M\:HM63-NNY<*[?)-%+??/TY40KZFT^']1@_J0&*1",>DAAN%G^R'WP-J]APO
M6:2REF!"=C"D0TBNT'5\Q\B/M(U3[&4*R$/63E9VC,2LY8J0-?4W;WUE,4).
MNS(^MP%+S2.=/99UN@UJ!)M:1"(S&Q"G9P4/W&&ZD?!`DF#_`&34C^9UT^F;
M`^*<O)6$<S[40_BI")`=9M8/5';<`RW"P3LE9O7**VI+9A(A=:[5]89!>*6E
M#MV+^6U\<')S%FS4BLWE%?CR<C>5>M)I:11'QXO(H[()+&<ZOFG19]^>N5ER
M:IH]U[[+]3+)7E]G`(S*&*MWCE#CZ*'ZXLN;,?P3#XJRD:4YGS[[C?;#$`0<
MA`6T"$3J3.)`BO'V8\CLRONZW4:UC2\>K;LI2,Z+MH`>M19K%;*BQK7\&\5D
M;F(RB=).F9%1FM$XU)&J@>0'4G&[`([4:X*+-$WS)1QF]8=C*(N@H7`U7;E?
MSN0@!8(\;C<<DXQ_)!,>E0L><BDD(1["VAMI&Y6$+"S,6D2S#0))!)!D2!OW
M[)RDOMNCCCCF`6I:5>4G74SMFV)B"K^N*^CI.53.9R5[HP"1R/B&^SE^3?N-
M_.?813UQHBW1T5=/G2C=@Q0</739NK$'T_8C/74,M_LI:\7*0:P^Y5SE+]S`
M)&P;#Y76U6(0R%U3U_@$L;-U5MF,O&TK7,-DD["N=]G,<L&72Z/J[9W&[^9^
M\<<<<<<<<<<T'VJBI"=]8^Q4)$LDB1.843<$6'#UT<N$'[^0US)1#-DNWPBY
MRNBZ<O$D%$?AU_>Z*9TPBKG;&FWA=+91B;]/NJLSP0R5Q+>M]%R7[3SIJGL0
MV-U;%"*CW=+71+"6[A5QNJHE[I+W2FVR>4T\Z^QKN)&O(LSGA"R1S#[+EIL`
MQC,E(#M_A-92(#KNG,>1D:&FONBKF,K$"N(X06Q@B';F##!J[U'$G313-/8U
MQC/UQCZYSC;;'CQ^?&<9QC\>?&<8SGSG/G.<\CN;[9]<HW8GX*SMMQ07-]YE
M%ZWR,>.'^C'6S)JBP<Q.L=I%\%M%D;,D+`J+*"J[W-)S1V(),#&@+[,>-GBL
M@DUVJ^%,I+I*8;J[MULI+Z[>Z63\>\15RGOGV%=/:U]I/?QOKYQG.N/.//[>
M=-?GG;&/;SC&/.V?&<Y\8QC7&<^,>?./EKC'GSS4%;WQ4%OM;,?UQ.1LK:T_
M9$PJ*REQVI9).)V/`&@U[,(H^^-9,_?$`#4P.4?*#M7C+&SGW2+M99)?1/T*
M7N>KNPU8PVYJ9F`^>UE8`G[=ATN$:$4!IX1\8['X(,D2C0>^PVV=L'2*>[AD
MAE7W.5--=D]]-]_BW+IJRAXJPFUM3%A"XL2F<%KQB8(IE':#F96;+1,%@H%-
M,4S(.LO9'+3H@(Q4W0U;INGR.SIRV;XW6TZ]EWK4M.&:JCUE34;$S-WV,RJ6
MK&!!$HX7F=C$114XRBHS+!B]32?KB`98AA0@HR9)M6#E11UI['C.V==DLZY]
MG?&VOR\YSOG;Q[7TQG.V<YQY\_+&?'Y,8YS_`'OV?:\X]G\>V=L^/&/R[>?G
MCS_A8SGQMGS[7GSGG'M)XQC;V\8QC&?&?>9]G.,?7/\`A>SGQ^7/GQ^7'-77
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MP&QZ_M6)!I]6,XB%BP:1-L/`$S@LE"RZ)G&FVV=-7(B1Q]Z1#$D,[8SKA1F]
M6U]K&=<YQMC.,9IQS&YE$PD\B4GA$E;;/8[,(Z<BQYGHLHWW=A9$+=ABK;5=
M';55#9<>^<):K)[842VWPIIG&VN.4IN^B/:PUZ>`?TG2[ROM*H85W'^KY3M8
MREZZ<B)]28P^'@FV[&F%(:JLQOPW3HMK6I%FXEZE=BI$X?68RE1%NDTK]7&.
MQGIM]D+#8>IS'ZY:5"Q"]NY[T!DE(_>"QY2QV!!>H:-.,)8-L+"%=G7`5P;9
M56MF).`:TRW=Y*-,'LB%&[C??:S/I%=##N3:DZD]/]>+KH^U.QU4]QXG8-G6
M%-'5G]>[)KFM*WA[V"1>H?ND[@4O-,I#6`P]3=P:3.+NZZUELFW)!RNP$.//
MX!1WIW]DJRZT>DO4!EM3^\IZ(=ISESW"Y`3DZL%E$1=UMV>A".:]=.Z[%.R\
MG(DK_&&W@V3,8JQ0R'D&FYUVX<,'#V*QGT\K3Z\=9ZY)]BD*G)U+U_Z2>L)3
ME_I1:4VJ>5-BN^UL`;*B2P%M":P0FJT7!``K@3:)T?J"/Q;8DZD$=0+L`[DE
MB7_I0G%C=F6=)C86L)[/IA077:(S;L;1?;N!]JJWD`OKN+)PN"0XEM7].4T&
M@I4PK/)S8<9W6&R.22X>3DF\B>1X9'8@&4O*XYQMMKK_`(6<8\^?&/QY\?/Q
MC'USG\V,9SR%M]=\Z'HZ4YJA@ZDMY=CGC'+P#U>Z^!,6C>Q-/?5'+5\>C(QX
MW"U/$W&SA+7>R+ND=:5HQQMG9_+D/&-=M,0SJ]=O:">0^\?4`UB@R/P`^%G-
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M:RH[>;JQX!%RW;'J1(VJJ,Q`)Q-O%8U?DTB<G%R6GR\3B$^F@R1P@JV)IMM*
M];K:F-3R,+4$\NJU(E1=D^JQZJ=;=EKFD<_*@)'7!J(S^S9'U&A)JRRFPPA5
MH*\`>6\D82+#AA]\7D?@,5&&&P>8)@S7-0=SNQ,J*P6I^Z_:*U>LTA/=81\X
MZ8VE&X&,CY;M_/HYVRNF).)2Z@+B.:"K3MF7T!#^MI9AUE3#(-)$#N^8SL?`
MDU"$=>0K.^EE[JP3O]VLK.S)H?J^EK&]2KMF:JF8QX^.:0RV;X#5?1ZYBG+J
M?/1>SR)"VM?B'<QIW1@0;QZTI($G@`O)V!V*@(1+X,]2NP_:SK1U(IC'7J8S
MN?GS'HU]RK>C5$OV8>4!`EVT;VYKL7"SU>P74,T*.9Z)JZQ[B*J1!9Z2=6;F
M%C6Y,667`YY++ME;9V75SV1C<$O$YV$Z9,;5]$>RJ@MF3'49FN%N&7=]ZZ*7
MI7`NR/A4'$O&CJNA5>WE(@3AR^Q53F;%!VN(U&G@R-`_&O&]SEO=AZ+2LFSY
M`V[$TMZ]SBLA/5PA(&P`*`H*-0&]1G6&>ZUAMIDEM%[9BKJ#6(QO%VGHA(I)
M99Z.I218")$QH'K`KW*[&2'I38/9:"^H1)1=O-Z7ZLB^P/7$%`'*\GZS]HB/
M;*IX9;B,Q-6([E2%)2=K&C-PUV;Z\CXN$"RN(1`=:T:9@!0%\9E=Y/<N5K=2
M^BS$EMV'NETQ%VS1\?(W4</0U_.I!&[7[(1,0Y$3BWW`>.12I*V+"9AK"95?
M+4-DI3559<32/,S\N!"DR=,E:=INR]M.^OE9F>VMJ`0!29^NI5TU-P:7AT#[
MJ/=8YTYTZO&'5@R&",Y<[-Q").4-(K-C#`(:EP48T,GQCLJN6<+:'[2=P+*[
M%^G!>\2[.7;)X++Y%Z'_`%'NVB0(<P*AB':BZK0KB3..WI!R%:#=?PER:)V"
M%B592^IV#3=K68>3N3>D>#').-D(;^SR.O6A(`$(L'";MB_$#'K-TCM[:3EH
MZ8-UVZZ6_P#UTUD5-%--O^MKMC/X^>SR,W<RZ].NG5+L+=VN^WVE6]0SN1QM
MHG[/Q)>9(@'C2#1]AA37;3<G(YF\``1B6^N=5B!%LEG&<;^,^'U@ZPPRE.M/
M7BFI#'X\5/U)1E2UD<*9136R2,0*`Q^*DW^5L[[Y5R\>BEW'O<[[94]Y[>=M
MO/G,M>..............................<9QC/U_%],XSG&<?N9QXSCS^
M/QGYX^6?ER`$[]-OKT7EA:S:6<6%T[N$\]T)2&T>HDK2IU_,2.BJB^7]G5RD
M).49<CS=;?&V[RW*JFI#&NONT'R&NV_G%VX'U1Z6PFD*F_6+N_%&>KI3W%CA
M9+T_O%9#._E!-U-*Y&7-1\N,:IX\>TA4-."G2NW]\W'Z8SMSO)=^IA"MVK3L
M-T5[J5`KLGG=W(H3603MC`M=<9SC*S8QU/E%LS1-MYQGQF05M''>-<Z[J,T\
M9SC7)8]ZH7I^GM<Z/NU]05Z0P\58;1^[#ZW7^6:.T$,N5T%8A>;&NI.CN@EH
MIA?W@G71)5)=OOOAPBJEI+&&6Y5=C-DWM?V5`)RS63361=PZ:1F4-E4EEU&J
M2J2X(J02435<HJMT]]-LZ[KI*(Z9RIIMKC8'O-?R*?\`RE?_`-G.?>:_DW_^
M6I_^WCWFN/Q;_P#RE,_\-.=9V_9,F^[E\Z09-D\9RHN\5T9HZ8QKMOMG99SL
MBGKC&FFVV<YWQXUUVVSXUUSG$7I;W3Z3U+O\!..U'6.NUMU4]M1LBNVJXT[6
M7>Y;[IY2&.I,V=K+.OBVJF,I-=]UM7""F<[:J:;9TPX]4+K$7P_0IYA?_94F
MP>;L?ANN/6&_+4".7.F=L8PE9#&`#JB104]GVTG[VPV@Y5'=-PF\V;JIJ[=5
M?L)W]M#.[:E^BPFG1KE!)1M-^Z=]0V+N6R:FV,Y=M:AZT)]A)(74PGGVM`\C
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MPH61OA<ZGL<C+P='Y(:>1R.&B2)9^VV'"I%(A[X``?OOAVQHVS<B1BCI^CNW
MUS.O;%JFW1Z\PK.80NP&`DP;B;L]%"PL]@0?#N$DI'&'KMBJLL++C'6R.AD&
MYV;O&BVZ7QK73??3SG[ILS>(*MGB*#ILKKX6;N=$UT%-/:QGV5$5L;I[Z>UK
MC/L[ZYT]K7&?'M:XSC[W1;[[)9WT3VW2V]M'.^-=MM-_9SK[:6=O.==_9VVU
MSOIXV]G;.N<^SG.,\^Z0S[6/83SXUSKMC.-<X]C/SSIMCZ>Q^/V<X]GS\_'G
MY\UH>N&IXQ9T!ID_.HP*M:T@TQDM?P)T13TE,L!5\@-6FAP0,UQNNN.C21H7
MJ4([^[1;*$6B&%=EG&B>?4G<YK:FX/(K`L:4Q*M:YB;1R<EDQE909%XA&AVR
MWM/S<A.$%6@D,.U56V5(E2+ALT2]XHN]<:ZY44YCU6771]W)&R].6=7%FZ1]
M<:.D;V!RH!)U0:Y$:F9#,SF0[QTY%[$@SY`R'1(ZM]2(AZB4'8<,76KA3:VJ
M#9/;=31-+39;?53??7777953&GL84WVQXRHI[O'L>WMG.^4\8T\^QC&,?6Z;
M=PGNAOHDJECPFHCMKINGXQC&?=[IYQG7./'LY]C;7./'CY>/'(Z2'MIU4A[B
MV&DI[`4Q&EZ)2&/KQ3.S^,"/P/M3RFN0I&T]GK]#2!,S?OM'`@A*]A;8H@I\
M:Q7<-]LKYR",=@^NT]B,NL:*7%4TFA59?:.T]F(R<Q5Z!KSX,.B?*;S(S@EE
MK#O<1URV//=SRXO_`-1.FQ97;8:X1<[]BK.Q-'W6]+BZLL^(34N!'B3!@('+
M)['1X(_A?[O2)R#=ZM3&L;D/PKO`"289;`C>S-WH+(N]VKC5/=/*U>Y3O-X]
MA.I/2@;MAR'/39OV][!)IY:KILZ1ZJ2J+R6`QXBU7TS[.;/[/OJ@&H);[XU)
MQ*$62BDFMAHM[%DWNM/^MKKMM_UMO&,><_CSX_%YS\^?IQQQQQQQQQQQQQQQ
MQQQQQQQQQQQQQQQQQQSYSKKG/M9UQ[6/EC;QCVL?N9^N/WL\\@U'0,D'K"9$
M&%GQ;G'LN!QL>T,,%M?:UWQJJS)(NFRFN-]--O9W2SK[6NNWCSKC.(I'_3PZ
M$2EUH_D72GJ@8(IKMG29-YUZJ7)/1RS2W19KZD4HDD]U69I*;Z-%,+^TVQG^
M\YTSC&<8$_\`2UZ)/BHPWK0@P43#82^S'4:G%K1++/=!799!9%*+SX.AARAO
MMG"+K9+9RDGC1%-75%--/6%7>_I70=?M^H["$L+1B:%E=Y>O%7392.=C.R(9
M\>K^5[S/,DBZQ-E;B9)J.,9',</?L]VT74U;)Z>^QKYQR9&?2RZ3/`7V`6K>
M=202LX3?J-9?V.[/S+?9WKKKE-3+J4W06=XU0VQG9JCA?"#7?=3=NFELJIG?
M*6GIF=`D46C<EU'HN6I#\C]F&MA08=9>62HOYLW#7>P\RC=NZUV_OBSI+;5R
M[5_OSQ5PK^GYOJN^M'72H5-%*HH2EJQW33U12VKRJH%"MDDM<N,ZII[1J/C-
M]$\9=NLXTQMC7&7+C.,8]\I[6ZO=Z^,XSC.V,_7&^VV^/X-\[8Q^]C'/O&,8
MQXQC&,8^F,?+&/WN................1&[K]?Y#V"I)R.K<L/BU]U=)X_=W
M6J;D]G.@^(7S6RK@E"UC6[7"B^89,6S@S6%FL]&[K[6J^=S,3NU<:O<)YR_J
MQV+C7:*FH_:(,4^B1S#TW#K.K(ZJGM+Z<N"#DUXW:%131OJBVW;R2`2YB0"K
M.,-46)X9H*E8+=Y')`'?NX`^N(G#HUZ==]R5[]W0)>13KI^,(FWB@\8]--XW
MV\I@B,'N7Z^Z*KY(*S=GWS1MNHIJP;+E76FJ26[I3FDYIV,L0YZAEFT,"[1U
MSU2D$$[&]5"]<U47%CSI_MY0-L5K"E+%/QFNW`O1Q:F\KE*T_@SBUXT<^(H)
MY3@4L?U;1AE(&\EA+3O:[M39L1Z.*GN[MJHN>TE,>J^SM`P)0H<<1#O>F=IG
MR-)V!"5&]58$1289CR&0\T);BB,9E$614T0C0C+9F^8>(-]4&^CR/0B8J]JL
M[6#.(9Z&\FNJME0U:UY"5A/=F;#X1V%6&!G`R0&[@?6#H3.$Y)(!S:L(=UB=
M1>+@XS(3TM*R2/\`-W3?U&KYJ[]%3@Q8:TA8Q^9U[(VEWPR6Q6?=>XGU7.]Y
M1U$VU:[Z."H,WM7K;;77N"2):'6M6DTUF4>:L8!([JB,CD#J-SW5G'OL%V"M
MZM[>Z36Z"['!>Z2<5=>JV3A]K4T/C\@D%>=:<USUK?31_`BKM).+]O+`ZSQS
M:?F8T_'-@WX5-XBG"B?VY-XL>1E%RWJ#3ROI3Z)W=:=1"VV]LP"4^GAV&=1:
MWGYV./OPBM)-1<J0CY[<L`&Q^..2DJ=$62:#00%$-U";U(6Q",ULICM(0SF&
M6'UOF=$=WS%X`$8_W/>]"^D=LV)4T1Q"(/0/6.,Q2W9R)L8M*S$RF[`Q.+*O
M&21"F=;FDN!PFO(7/V@2/#FA[8;)6V"SOO5VJKBKMY/*[+*SBNJC[']UHX&D
M<"F-70'LK?W5JE[+J4'7O9&N(Q,85M5_9?-/K269T_8]41U6O"EYZ[AK$@),
MO+6HY@>D3U`MSL5"IQZG7X-8I+>WEC"_4^MP$2J:57K6E9N:OJ]S3=/&*]DC
M5Q*XWL\;@R375I#(B)55^SW,;#-701%3<-("#V%O=:8`-JU_]*73(&8^,,+T
M5UT0<"E#XI=PT)N^C\:!ZC-MTW&F7*R<ERM'T\):8RZ+)[L4-/B]O<8W!WEZ
M>6!'!I_O%)[!`6Y`KA[0>E5(.VD/J"O%Q%>->BO46RRTBD!HN,UE%@2"X=&,
MDG3"RK5DY!UJT0IV$ZA&`-$!&";DK,>YY`+NKU5_34DG6J2@IWM4U?=OI#VB
MF%=GQ1Z/ANMEHU='A%:Q2<GP3AZR6WL>_P`=`IA5L8>/OB"B-=S27"&WP((F
M\S;):EH0.E*VG-N6C)QL,KNMXJ;FDUE1???0>!C<='KDRQ)?5)-5=?*#5NI[
MAHU16>/G.R#%D@N[<H(J0VZ'US."R%I=Q[OBI&'7AV\,@I.E!)"CE.24EUWA
M[%T-ZZT.6TRX7U8R"/1DH8LFSQB&$T65TVG8K'3*[<:R6Y81QQQQQQQQQQQQ
MQQQQQQQQQQQQQQQQQQQQQQQQQQRM7U'_`-5Z'?ZR+JO_`#I_RR9']22_S>G\
MW'/TXXXXXXXXXXXXXXXXXXXX^OUY5SV)C<RZ97-(N\M.QTW,*>L32/,^^M)Q
M84]/2%X*BXYO'8OW!J>/C&KLJ7L^I8LW:1NZ(.)2W?6[1H<:2#HO;"J&)`I=
M8S'#\)LV*1J:18M&9U#)4&&2F(R@&]&26-R``='Z/1$@CQAGN\&E!)<6\3=#
MR;!=5L]8N=5$5=TE,XSZBT=`.'S`FN%$K$13-T.&/U1K)1Z.'OM$TGK%BZW0
MV<,V;M-%'1TT;*)-W.B2>JZ:FNFN,:BL2XNN%0DQX.T[(IZMRA46[,,!\YD\
M-BB[@*T6PR=E<)G';'"8I-TIH/V(+Y28J/5=!Z:ZCM35#.T\QB*/542&0(!T
MMALU20>Y$C5E,-$"29YFFBYRVVWPW2+:I&&Z>BF$DB.J9%+75YC5?'Z-(O&1
MZAM=B`",E9(I[^0K-!(YJH=6RCLV]Z940;)[%5/A]]F_O"&7._N-]D?:]WOM
MKG!8U+*4*3.4TY$CU</YY4(*&.YC7,?=1QQ(:W`39,TM`\GXT/\`:=1,?)6X
M(XXC+=XU8)D6H]ZY'HJ-],J[=R`V!45I,Y:UK26P*>#H#/#M>31*'%0<A'Q6
MR(QE@^DD0.8%*.6@V6Q]8HP5-B'/L$A;MTGJ^20=9VUU].>FZX@=>2Z1V44A
M\2JV+1@X;G)F8N`X>#@8>-8N'\B)29T7RB#8Q]F.3=.2RY+.C!-KJLHZS[OV
MLYP"<V+UO@M4Q^X[&EM11.G(XSBAZ+V%,"$5#0<(V/?9S6$OH\<+^X&#5"^Y
M,4SB^12C=R\6?,68K3=9P@EMO31)'3=5331/51;.-EM]==<;J[::X3UV4VQC
M&=\Z:ZXTUSOG.==<8TQG&N,8QC.^85O(-H^IB-[298=O(MA&Z0O)E85DEJW4
M,X9[:?&+,M2V4T5G^--T4WZB&BRNKA=#"F2(-6[5!-JV01;MTM,)I(():(HI
M:8\^-$TDM=-$]<><^-=-=<8\Y^7SYXP2-1B(M'+>.`0<<9.'2Q%VW""AP9JN
M\5TUPX?.41[=J@JY4T3U]\[6UV6VTTQ[Q7.FN/%6`HEGU/;=#GQ2Z9#TY.OL
M_'GP)-+1W@-WE[$5T=T?!3XI;?1LVD?4WKW,A:!0$8:Y)1WL%>`5F7%.5JUJ
MIHZL>V[&,:XQC'TQ_OSGYYSG\N<Y\YSGZYSG.<_//.>.................
M.....................5J^H_\`JO0[_61=5_YT_P"63(_J27^;T_FXY^G'
M'''''''''''''''''''.-M<;8SC;'G&?W<9\XSYQG&<>,XSC.,9QG&<9QG&,
MXSC.,9Y5!)Z;MWH%.)?<_4:!E[=ZM3T^0FU]=)HAALG,:]EAI\N3FE\=,1KQ
MRT#N"TD<+N3]M]6MUPH6R3NSZP:@(QZU2$CB5L6"4??-0]D:Z"6O2$]!6)`C
M_P`0BS-A%7&BC,FQW]P8C<B#$6[$_$)E''N%!<LA$L%!)A$C3=V%DH045:.6
MB5(OJ4/#-5V9VU['4=8E,V9M$NI4&CG?ST_.PVS,2&[`];`:5NGX3(J7L5OE
MS):WME87+K9A,<9OPLHK&QY$['@C(D1)![,NZCZ:[FVC3W9GO[)&MH6#%(Z;
MO7TCJ\=1RSDH.HZZA];>S-?5FRL.VG48>1G=W'DZK,3.0Q;[RRY\6@8*<21V
M;LE*9O0NVG-CON^MZQCLEOU-M_LNRJ3KZ\[2=JZ=@7?LD'JT(]E[JN.MU$6[
M6%(EI;+0"5(BYP"G-K6W%3DJWBK5U8RW7E2#"TF,M4F[]SK5KVB/U7ZD\W4D
MMRHCX!=W5OTD89>/=R(0Z(1R/`98_?\`<S>`N7U9SQ":,*I@O;6>/DX8'G9U
M"5`JIVD</`J$L.K!ATW%?M1UW6G27:V=OZ]LU72&77Z__;CKS8U+;#(`O&IV
M*)]!,6L*?_;SX$O/0T]&6/5$28`'0&6"@>$3;T:?C1M1\DMC&9[W4[!7/TU2
MDA*Q6=KQ3N)Z-WJ*W)V;K?4!%PNG3ZZ:KJH(P0!!-PHII)XY&6$VFT[Z]G8=
M:1<](G4K@;,RB4T/"YPF\T9W/[*G["]/WM[0<NM]O3D<Z[]!?3-D]55U[$":
M)]B(K<`"!2:?6._?30,_DDBC[&1`<U,)TK(Q'M888BY8F6)E"<I8,1T\RO=O
ML?.YWV6,13MI3E0&:&L3U#:TE'6$SB(R.TG,)I&O;%D/7RT8E71JN$3T3(N0
MD3@=XZV=+IS,:BL"#V2\`KQC1PXA23+VG5@7DXZ5^E3VNEE^G;BO2Z.UOIMR
M]H6Q$ZTB;)C%^U\>KJL>Q-.Q="N8N"3=UJ]B$LLJPG*$M<R<TR.BVKYV=6;Q
M"+)`[]9K.H76D1D,]L271J"P:(B'A^53.9'1<9BT:!#DMEGQN02$TZ8B`PIF
MAILL[(D7;9HCIC.RBNN/&,U5O5K,]57700T83"F?3.?+8WD10JUD$$NWO_']
M/:SK&@(MQ@1*:9Z92C&R69%(2R0BV>RL=PX``Q,#IDRM([,MI```<5!AHS&0
MPJ.QR.BAP(``!#F8@(#""&:(\2'#B1Z+=@+%"V#=NQ'#F+=!FQ9H(M6J*2"2
M:>OK\<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<_!RY;LFZ[MVNBU:M457+ERY5
M30;MVZ">RJRZZRNVB2***6FZBJJF^J::>NV^^VNNN<XPZN+-KBX88&L6II]"
M[.K^1:.U`$XKZ4!)E$3:;!ZY&/MQ$DCKXB'(Z,R+-VP=;-'BN&[QJX:K>PNB
MHGKH:2=U*(C$SL2'.RLM)ITZ1CX*XYE&:^F<HKZJI-*F@4D!BLWF0$,_%#I(
ML'D<?/FA3/8DM"HX="R*?9BH4N-?NMQ5)<$&NZ*OYE7SX@_!C)[:-9O]R@,Q
M'GS68TW9$IJ:P!2XHVS8D4OL:<PV0"DW*C;1N019Z$6"BX]RW<*;-]O7\N?K
MX^F?KX\^/I]?RX^N,^<?7&>:EMZ]JHH9G`R%LS(;#&=FVM`*2@ZY/5UMH?L^
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M-K)E[ITSBE?1&2SB3NV0T@7>M8]$@KV0&W#,2+;.B91VW%CW2R`T<U<D'BNF
MC9HW6<*I)[?O!II'[&A<2G\4=J/XQ-XQ'YA'7RK5RR4>@90'9'0SO=H[32<M
MMW`T@U6W;KIZ+M]]\HKZ:*Z;ZXRKCCCCCCCCCCCCCCCCG&<8SC.,XQG&?EG&
M<><9Q^3.,_7D#[GZ0M#EC$NQ/6*QW_53L\4U8:RN>1:-L956%Z-!2/PHX)VA
MI!R1CX&Y6C!EGX('.&)V"WC#V>B0Z&6Z"`[OP9'0A+M2WJX@%0]3OJW':G+1
M0@P<@NV,)BJ]\=0WI-JN,1:RO-FYBCBQ^KKW+WX9PJUO^+0^-1Y9-%D"N*<8
M89+[62QY]4]LQG[ZQ1Y7]DPVQ(VDSUEL?7C4RB\XB*^CG1%MK(!NQ,1)XXX2
M>N]4F^7C\8JF[<XU3SAPK[?V^J*JB<+85N2K2`$*]%J,%1D%?0N,NX:/4%/,
M$!BC&+.!:@%GN.?XP]8;MAZ6S-W_`-);Y37SE3/JD:^@I=<DZ*PR*$G)A)!`
MLX(1L(^7)HM<I9;)$5G3!95\FAE!'*.CO=;5+*2>4\:Y3T]G\D*WKYMNBJW@
M\/04;$="[=1&+@4MT"B>NNFA)'=,?KLD_P!---=='J>=76NNNNNJN,:XQCAG
M6U>CEY<Z806',G,^<ZO)RX:1<"V7F3O73=/5U*U4!Z:DD<ZIJ;IZN#6SY;73
M??3&^-=]L9\XK3]4'7@,B:K.OC!","W82-OBD*C!%Y'PY!1NL_%`W+P4LL(&
MO5FC55VP';MFCE5LW4714W13VU_0C`JN;%Y'/"L.@B)TM&M([*YB_CD<T+$(
M@*VR]2!R*1N6.'CJ-CM]-G20PL^4$L]]<KZ()9U]K%8,U[5TG;$]AHGI94IW
MO3.*1+DW,`851D3#^E]/V81%%HX3G<_[2O0^]0-I0#B\J/Q[>/U>O<MIQD>>
MDNP>IW!DPJ];;8B71Z97)+(M;OJ&3Z*]A9;#BH^4UMUZA<<)1SIY2DI8Z)*,
M),)KV2DC1Z];1`NL;[A;BO%T1^[SM)$W5-8T\3</_B;)]=<:X\8QXQ^_G.<_
MCSG.?.<YS^/.<YSG\>><\<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<Q.>P:+6
M=!IG6TX$IGH58,4D<(EX-9P[:HF8O+`ST!(!*KE@NU?-TB(@B\9[KLG3=VCJ
MME1LNBMKHIK'3I/TCZ^^GWU]CG6?K/&2<6K"-%)*=;-CDA*RLV_.2TJL7-E2
MQPPJHZ>NG+A1)!+331NU:L6C-FV;I)(8]K0_7.CKKZOV?VC@PN`A+'J_L9VC
ML'M)%[=6EH$7M$=[KTCCJ?U]9<%?)(R8L]@YR//M8$;B.YX=*8:1C``VI#'T
M??O'$!"O1#N3]OU@Z'P"`)[UYVKFO8:,RP=;WPYX,/G/JTD.U\SC9%(@/5'C
MV\IZMR':-/E8`'%2F42/[Z5M.YT^K'[M`I#Y2GI\]OVM>+1T#'A67P:_4[*K
M-*?S*LIAIME[`Q8*2`^SVP\0`97[`=##LV.K7L-%M:M[OP(0R"S,L0F,Z8%<
MS:P7O'TPFO=LC+H">E9"O:M#4)*!M:2*+8A!F1J7U-3B#]*:[BI>!*JQ8M4>
MD'@1&MY='R8@SN2DD];+/A#=-BX?]?L#6?;JX.M_4LE)ZZK6;V=7=G5U.^W/
M6E.>HL*VOF.LJZGD(GD-C,J)BFD<)L!E@RB,W="8]83$;%3KF"BHW*-QCW9N
M^;1.VZ&]G\3=-CO'HVBQCD]A\WKJU!]N&S)>,]<A'3(A1AWH:5<S!9W8<GC#
MBT$_M/$G..B$5F3:5/;OEBC"WHRP"DM3UGZ8G9&!$J=E68I#OO=6J_I-R%X:
M&6R]^/7FG7`!)(?WTDS%=P@W3>'KU@#F/U^N6(Y1>7/'!K$78[D(-"CD4L1B
M'I3]I(U!JY]B/0EI:4&H?H<R0EP^W2*KIKV2ZZ]Q3%AVM:+0BY8IJD39;K0]
M;UM&IL4;9.F@OQ-0EFXBOW#A1;8XOT\^WI(-%4Y&&CC"41W]"[&;V)C[>=IB
M>VLQIWO?`KUG'9XG\)C)(7+)%U]BUA1/+>6-V4P-&KO,561W0K6!`9&2E'KT
MWN-EZ?<EZQ:A"(@PS[,VQ+Z]$5S/H03^Y]*E>UTVN2F@8T-;0(I4TZCD$KPO
M#XF;Z]V4/1KB0@`I2NVYX&-P!E`^.T3]/;LK`)HM9!^HJ%L0/,K*ZD3WL/34
M-DV!$?NR-07H>CUGL*OVX^Q&BXMP,JB_Q(*^*\`V),RP.<BF0_0V=;32/B7V
MOF0;T]>X,8#2"#6L&B'8@JZZMQZ*4U>4DN^6M9!0DF&]<;;IF8T.^:/]$#<^
MADE)V$S=L)FZ2>!IUN]+3.VH^C*H#7B+NQ?TX:,O3KO5!*L[\%Q`Q*`S2N&@
MRXH\99O)#9H(16$4C[41/@S(<,'!#=2.!+JL@+N-MV\7F$'C\9FB`6+R,[)@
M#2Q3CCCCCCCCCCCCCCCCCCGSOIIOC.-M<9QG&=<^<?77/UUS^77/X]<^=<X^
M6<9QROB8>F/U:(R0I/Z?$SCJ-:1ESAZ3LCI[/#?7TD;?[N]WS@A-(/$MMJ9L
M]T[=**+O-K4J^;Z.U5%%%]=U-]M\]?2H_4<KAVX<0;MU3%_`=GN%M(OV9Z[:
M0V9*-/:VS\"VM_K9*X3&Q^-=<Z)Z.W_7B0KXQKE1;5?.=L9PVP^T??2@X09G
M5U=5>J3J'14=@A)[!AO?=K!8F$;:J-]'!&1..Q/7RK`T9%-=5%E7+MW,WV-$
MTT,IZK*NMT6N!4-ZEW8'L>.R;JWTU^PL@AJ>[=%*W%+5H&+4O*]E]5/:+59*
M[&E\$EUJ0W11'?1O.HG7;B+ED_=N@9`FT6174W,.OKU'Y+OLT%>G_4T)6\[:
M9)VSWB!MQ:>,ZXW371;5'05JEGNNNNJNBR*R0K?#C+5-)15NLY=L_P!74"]3
MJR4L-Y!?O5;K.,W2::O$*7IB<]@)YJOC7'QR@6P[MEL`@@[7._G#34I0,EPG
MKC&ZVJV<^[QUT_3%HN<%DY+VLF%R]X3Z1%$L@/[1SS,EJ`8^T3U\Y"=8H,+@
M'61@FDMK[QFX>5(7--\83UW-.-M/>;6#A`(2-"!@".B!@($%9-AH<*&8-!8D
M2.9I:H-&`P8P1;L1[)LAIJBW:,T$&Z*6NJ:2>NF,8QZW''''''''''''''''
M'''''''''''''''''''.,^?&?'U_-X\_O>?EY_)Y^7GZ_+E5W6Z7>H<6[HVT
M!NZ.'677D4O?>J#DK$JC"58/&-K,B*74E:@)I%9`3N&P3TPII67ENQC>U1+<
M/%9\S081E6+I)C01VU+F@.TT;N:7]?K3C?7V2MHE;Y:+JMH6:</,B\IO</6*
MQ`>S-Z-GBL<*'`214"&DZ+=1>,%RC&0(^RJ-T4TJ\IGN-)JAD'7JNNQTLL"4
M.W;J81`81BRB4K'O-YIVEB%`0XY9\S>DQY.QA-2R>Z*/ZT,I)&VDH+3FQ];8
MND\V(0>/@IX]EW>7=LU2%]$*0+5DU).3%8@KFJ@FUDA/)"S()"S,CU[6L!@1
M.++:HSF@X:,BLO#QUL2(-;(WLB(`<%(J[6<NM(:%/4YOTN4Z\`8O554,=KXF
M/IZ6$$E6D\D$ABSGKKWA)W2U:1U1^WBFGV?<$9=TPNS6>H($HC(X](LR*.:H
M/!3D<AKX3ZM,^AD(:/0]$"3`4#&Y[;T^=33L!-)-(T`(_P!2F;=/)@"BI0I7
MCYX378HZ(3J!LR[D8$$BDT*TT:"1`<45WL1ZX=LKBO.][$@)6A,PZJH6E;;-
M2R%Y`4>/F$SK;L?8E$BH`58_=[2+/S4NC%??ADU>QJ6D6X"/20;'GK1TX2;'
MS$*WOJXV9$"ZBMB4'`1L,FLJ[05E5LBC-MGRZ@6?]:^]5==(5R]X)F:XC[*#
M59+SUMQ*9??,"[DJ\6:B#X$D-=$R(#WG2F_K%32GY#8<1M6@(TS(5K-9O"ES
MT<LHL0#SU*BK"K3/9N6PL;O"E"*(>E^LMLQ_M`8'$WBSG4-#K?@Y,D,5KM67
M%MD$O4ZMD@8M<A7_`%]A$FK^DPB1^<FBEZQ:/$U8]/J0G%]4E*PH=VEF2OAL
MRB(B!,W0H=$#;YX5ELO0BKXLK5I1J>L8ZMV78MRT77=LV9%H9##-E1@#/A,<
M@\I-S$:+B<R!"I-&6A(V=C$277D38:5T;'M&0K(I-^AOD:\=-M]=M9!\<<<<
M<<<<<<<<<<<<<<<<U7<5XT[U[@Q&R[QLZ"U+`!2B+=[+[!DXF*@='SK.^K(6
M@_+NFR3XP153V;C`S#XHL3=>RU8,G+C?1/:"^>U':_L]G#+I10.U=5H2SKHW
M[==SH]*X#%78[?=';<]4'5)%:-=@+8159KZK!B%GO>MD++X]@H&DDF$X2U?9
M?`_3HK%:6@[:[4S&8]X+PC[I$I')KV)0CA&`UJ61PVV3>4AUXC8@/1=1O&JS
M5/=G+@\,)VNLGKHF>LP]OIA7EA>-==?GC'SS\LYSYSMG'XL9VSYSGQY^7G.?
M'XN?7''''''''''''''''''''''''''''''''''''''''(B5AW>Z_6[=\IH2
M&&98I-(\K9K4<7-5Q.8W7U@D*/F`FO;O%U?8YT$QB%ADZ?G!P1%I\QCA1VN*
M*/-\L]2+$<6>L)=\TMV'O"*=<*9GETS5J5(1Z#"4'K@:$027*E7I,J.CP02R
M^(6;,VZI4\8%CLOR#IH,&)NMR11XT'M'+A..U+V=UT[*MZ!)`:0'KG(&RL(M
M&F)R'P]RMUK(5I.I!1Q]HT*Z*N&854I8E>26(0IY"%'+:7,861E`O;4*!P^;
MRF,F:@3LR&")`5KI.X=1$CQ7HLN^C6ECY!%6Z#J6XAS%XMB3["G[6*MG$AP$
M2RU=-XZBL0PHD(QNVCI'1_IXPNOB9.,)=/8Y5;NS1&A0@*4IAA7^UP1ISK)X
M\T<NT5-(VC8$<>JX/@&&%4C@)RIDL)09;*[.=_3:0/H,^DQ.KF,.ZCO)AD-*
M!AFNVH*F7$EVCL<F@NPYJ.*0]%MN5V!A+#-!9Q*F3L;\`-FA@9*#"2!X@V?J
MQ1ZT4+T3ZIFWO8<-VJ@<L0>-K2!"K)E\VZO19AAF0--I_9[:2V#54+K)W;!@
M.NDT)'35KGIL;C[5+[<(+H&2!&0$,MJ.H>E56"9I`8;I3?9![?\`V*M>$W81
M.R#KH:DGVKV!D5A=DYG6<W;;*!E)@#$NCY)^'J31A()TI#'PDLL%.C03X^A*
M2*A.HY.NR:%=`^OLI@52-K`"O1\4S61:,0AQ(`+M6R`!)T@JN#B[N2A23K2<
M)&'+#),:3<+R;==BZ<*[ZZ;D.BL_,0"=V$#ZJ#[DD=+-XNS%RPU0LFL(164E
MK1>PI#6:!P64,(R"#,J\*'#I-K&R1:"D(2L9DPU9W#R3DB[V?4_8KJD=K>IR
M536O3+2MYO"M3%.,0$IB``,9@@(2\>95A8'1ZPUP!CX,.^<N&PUBFV!"Q;O9
MPBS;#G.&^:!>Q%`R3[!S'KOJ$]B4R)S$(SD+9<**XD4L9(L7#R+@]AYQQJ6D
M31N4&N'(0?EP311(,5%&VNKMOE7'OT6'6G>8P"OV=ZU25F5H2:5PZ"QX+.XT
M;)2&408&WD,N!LD!1)YM]IQX8^%J%&:OL+M5S(1ING\48').9"<<<<<<<<<<
M<<<<<<<T9?79>A^L,20F]\VC%*V`D'Z8<!J=>J*'IC(%\8RTBT`B`M$A+[#F
M!#S[(N(08%(9,44_O3`4XW_2\ALI=?>SM+E1IUKIUKU!J5W[;;]$)W'B)1Y<
M1IHK\2@H4JCIL),@S83735/54:=[,3JM2;-YL@N\I"2"O.KK;%/=`:4KF<B;
MJL,C.NS_`&0$).<,.PO960(V-.XRH^65</\`2J(XD.#510`UWLNJ@N'H6O*X
M9.V>$6Y7[3V2]_O./&N,?3'[N?KG/Y\YS\\Y_/G.<\YXXXXXXXXXXXXXXXXX
MXXXXXXXXXXXXXXXXXXXXXXXXXSCS\O\`S_Y_/R-,`Z?]<ZON68W_``6M6(*U
M9UB6Y.2'0Y*W[!LK81\3*[&=16)%3[Z&0-[9<I`A9/9;Z#1Z./+#D8H>=F2Y
MHHU2=8DMSQ))'04NCYJ+2@()DD<D0M\%.Q\\Q;$PIL02;J-"`HL/>(N&CT>_
M:JJ-G;9P@LBL@IOHHEOKG.N:MI#Z=L[4GG668P*W6%<-JPDHR161'X<.-1B/
M8W$6?4\Z',JLC<?>,@0\.PJ^MC_4T;'Y4T<BF5(VI.#2NKZ9%9,E,>O=/IN%
M[?[$WS/2$CKC:O>P<3&YWDY&*'%[\H*P05#23K\S,4F=T*YA66CB.']I*#-'
M1C24UU)'L^T!KG&=B>\BFL=/3F[&N8S6)0Q*NJCFP8Q2=M=8;&C8:I#L>J"T
MJZLJCZTI-G;QH:VU=23-P1]A4,1T;1]^H2C3:I7Y^@PTI$"%4)YOK`QZ*TJ?
MPDK6P^^0X42]FE]/V-@)Q,H\LUM%[8].Z'=$P.CXAN4;-"TE'/H8SM*;*+.4
M0\V:/'D%PW%:[YDNVY'_`*:UKS6UF5]S>74P*L`[/I1.Y]#XE&92ZKKXY;H+
M(>DD;5B.Q;5F2:/GBLC4GLJ=$1N=U(W'X763+9SO&OOP2UA#O1YGD9)4ZGI;
ML#$!J_A'2J%R!U#8@=CTF(;=6NI?:/JS)91&GVCW=L&DTT:]E=IA%G[S1[O#
M%(&-!/\`>2:%?M,1-_K!U+M.I>LDCIFR"M#%)VI2,1H`=.:PK%Y#6DV`5;5K
MNJ(-/+,2>+N3;R0%`6X[[0AK,B2C$'8,-@,.)O&CQRYS#JK?23L*`E*E?D+3
MK4QFN)MZ;<C>+Z0@\F\,#NB?7N1T1)6B"RY'?+1W9Z,A<FPNZV[AO#V*KV/$
M<271VH2SU:E])&?U:G``!.4]>;0`1OKA0U19/2^KI<UE<'G?5RM995M;3VM&
M*4G*Q[1&;!#S.029"1:JF*YG*\VDT&(FMYGJR!YG"?2OD,)+]8\*/>O<YC5:
M=7.L?7>Q1\UK$^\V#R?J@;)R>%W+3PML92CZQ2:&"FSB2PRQV+]E'CP*$S8)
M)"1.+N1$@R+KMZ:UC4_8/7V>D;-BGV50MHV8>C%8HI3B>`XE6UF]<X=3A>!U
MM/9V23L,/'`\PB&\QK:(SDA8;2IH2<UIV.R@G#XI%<,;C_W>..../I]><8SC
M././_/YLX^N,_FSS%'<\A`^4LH.^F$7930FP^U1T1=R$.VDY`7[]1M]I,8^L
M]T+NV'Q*2K?XUNR4;>_342][[S3?7'L!C8:1#T2P`L,-BW"KM!`B(?M";!99
M@\<#WR23QBLX;**LW[1TR=IZ*[;MG;9=LMC1=%1/7U/./R_F_?\`R<ZKE\S9
M9:ZNW;9KL]=)LF>KA=)#+IXKHHHDU;X5WTRNY4315WT02]M7?1)3;73.NFV<
M=KSCZ^?E^7CCSC\O'-/WE>E===J_>V39KXZVC[4F%`LV,3A<SL:7R&224BD(
MC<8B<$KT#)YE*Y&?++H#Q08"$?.W#A7&=M$D-%5DX2_>[U"NU>4=(!$V7IXT
MP\U2<;3^W!D,N#N+)&"NS=='$3I5@1D5%42HX;^UND;MV47/*&F%LL#5(1XF
MCNJWWC0O1+KU0DJ<6FQ!F[4[!$F:C"1]G;WD#JVNPAULNEE)V-1L63)J+P>*
MN-,XPG7-5CH!60S7PB'A@]#'N^2Y*%!8$8_,&"#`0(%,W)$F3).VP\</8-$M
MG#Q\_?/%4&K1HV1TW6<NG*R2**>NRBJFNF,[8[:"Z+E%)PV62<-UTDUD%T5-
M%45D5=-5$E4E4]MM%$U$]M=TU--MM-]-M=M<YUSC.?UXXXXXXXXXXXXXXXXX
MXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXY!;O!:L_JU3J'K`I(ZCF+$[Q=?*M
MF>&S8>Y^W8#,-ICB21QQ]H,WGN&Q3`UE[URR^%()?#Z_#/$/:4]N<R><[)I[
M9SYSG33.<_ESG7&<Y_AY]\<<<<<<<<<<UO<D*D=D5':->0^P#M3RV=UW-(=&
M+1C""#F25Q(9-&R04-.@#=RHB@N9B9%ZV/#45%V^JCQ@CI\0WVSA=..OI]=:
MK8ZB]1JEZ^W;V/FW;"RH"P.MY%=T^U?:R*49+R4N<'L,[F#$B/JC8R,(-8V(
M7D$C-%U&`U'9P]32^'9,X2=88%#!<[[>T_VQK"0R?L!9W?"P;J#&RD&E)S\(
M]/)V,'EG3^80FU6`9,"WC%)UC&HA$=A*4S'O*DD<!D(\JR&KEF:TAA;1]N]K
MJ0&=:*[@$?OJ(1YCV,)FK`@+GK@;TA$DJV_?5$[.QF>%$W*E4F99N_C-1$H;
M/72:IZI@E=Q>25I-!2]A,K`),8KL*,]JN_"$(K!V:(VA+#8OL`B`G6\5KU0*
MZNJ&%XO1+A$Q26TPZT#$H89B!B7RU:P>IM\!HE(M36UF0F`=L#?X'HV8D,G?
M4S@G8SL`8T"]>0.^LFZ6`8GW#@).0G)U!PLR[(1N6JEZSAP!477,DC]K,-*X
MA=HP2P(8M(!S`=F^8:_?[:E&S!R,V_VC[*V1M4?4NRH"PO2I*>NR:MFU[SN-
MTJ;DEY=>HG)J4L(]7ZTCJ<O`YI((SA*]6E>5]9+Q_71I:+MW[ID_2!LB2TF$
MPTD/9#OZW,S(:P(W*SLZ%&K0CSVOG/70=K&Y%UP']$9+8E7=I(RNRA$D'Z6\
M>[1,8H`?P%G,),+8S(Z<Z_O:S<.0[,_IB4"OCU%V-A5Z1F4[[#$8=K:G1)I-
M0[_K-%41+F&=CNK\D.=G%G;D/1[8ZR$4-:XL,_$N1Y!%>K)<Y<PZUW\L:EV,
M;9X]"+^]3)&&5?-C$Y[#G9EBHO2@M&5UO(NK\6`QZ0VK?MM2JKN[E/R-<?0H
M^116(UA7HN.V3*F8HL.F-/GBKB9G9-I"5&L00RR)=F/4!E@^K7PDY>K-G-2_
M08;V":&NN8D;**#NZQ.Q1N%=QJ?C#<A5[AMI54)J!$C*5)28:2Y.LVT7A\U<
MVB:`V.BW)[]=7AW+;>FO#IXZD4M9=C1-P3B%'2<WK$K7LJL"#5_=UJ1V/*R%
M['J3G0BE#UJU1%(<7&7"ZZ_R*K]9+(`[I[$PD/F&Q>/Z2!7)V\CECS=U9,O[
M?U[3UP]@ZXS);#-4='2\KZ_5P?\`3CIN;UWB,A8[3\GB3)E(>UB-E5A;RXMG
M8(2&SF.#HB21CCZ?.9@3U?+[@[NWCUX[*53V@"7G#K@*=(I`FPHBO^LBQ^K;
MXB=D^G_(OO?(<2+$8-$HW:@?M<;<@WE?B)SO)(L\C\1K!O7)Q&>ZRUW;IZ>=
MB67.:@(#+ECEA0>SX(1"1*10651-4/!H^/81()]UG=+2YS"HD0LJNI+'/@#R
MLF/N2TM%3%W*(;*V,-,QI>'B9]<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<
M<<<<<<<<<<<<<<<<K5]1_P#5>AW^LBZK_P`Z?\LF1_4DO\WI_-QS].......
M.....<9SXQY\9S\\8^7Y\XQY_<QY\Y_)C&>55]1?4>)]G>T]N]>W57Q*+-H"
MRN1[I@!:CR86G6ZE,7K^!'0'VDK1S`HNSI*676W61M6B`@R4S[285N.D)94D
MDB,:/2%JGLX\XS\_E_[V?R^?G\_G^_Y^7G'TSGD=.V%D6)4%!SNPJJB>\RF8
M':*ZM1WV,:D^@<(:F\9C\RG;F+1Y=L?EK&L866D-D/H@#=-#$I9Q->/BW35X
M1173C-UT[PO[%=T?%[HV@%,V!-H:\;2*'20BY"R>76PL_;[!(O7\:,D$20C5
M*%[AYU+A![[3*1PE94#K##MW-6,H;L=[3KN91U<3:P*_FA60`#M8IUB4F"C^
M,E&X@=#[5&6$8`V(B<W]A@]K\..J>RW4TE3-95E#4H3(OM[5M@>KS0)3U.Z<
M;2RL(&)KVYGTYLNXZ1J]*(D(5]@&X]&NPE>V=9M4V^4:/B>Z6]>S",4]8;4>
MLS65D@B2Q@Y%IF`B9L,39-\?@OJG]?G(&MOO(?F\N)SH=5\B=2R)T7+HI%(Y
M%[V[*3KK#5QB5BB4KE[R+-\6O$TX#(-=CAHDV>+M9BZ$BHR2=:@)&T9W=H_L
M19)JL:S7EY`J)@:EG-S9&*OA<4/0/\*]@4HSD0,ZX<;:.$R=AU;/10\6];#S
MJS`#]X%!:($L"(E-%Q3U7>K,M.(QEDUMX5())@\UJ@5)JP+QM:\Y!$[R6ZY2
MZ(5`X+/6["2R6)VUD>#D(X@\`-Q04NTFZ[S$&:&Y$(]X1ZHG5(NKHS4-3@*^
M1EM80$VRD4#-`EXO-[3["R?J@*C$C5?J(M6!&-]BXD5JF=+).G0V('74=(DB
M'W:ED7.E_,D?JK]2HT0D3%X2LAXVB,:G4DE!0+64G*L@&D"K.0W*^&DDF.FY
M9L\,57&W4UC[[`S:-/AY&-C7DA'2.4Q\(0FU3]GC;E@(6Q0\8F\3$G\OE!(R
MP8VM$9&X%H/%FXXYN"<.7+AL,D+%-`T"5<[(O'`=\S6=-&+C=5FCL_QX_+^_
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M0"T`-W#YC.\;CW!0Z[B5[$QEG%#3%U%GSJQ#RXZ9[EF91:,[2-L_J-0MR6:R
MM:QX=I))&WH^U>NY)DZ(/4(_)*LN'<1F7`I0':JH)&ET63`N,CI!RKAW'!<V
MGS85NAB6$E-M'Q3TWJ-C*M?F'\NN*:S>KI'09N#6/,9N-=S0.(ZS1FQH=4,)
M=/`\6"!Y!$P,9N"T1Y;,E"%Y+,'$[.R"6R4Q)5&1IGAHCTHNM0*.8BXX];FH
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M</6LP1+4>A2(:RT@)R-O9(`G*E);!8>Y38F!<7-)`HP>ET',S6,!SK"<<(`"
MXG#8I&`S]T3$1Z-@P0HD^<M7CQ^.$#&HY@[=.V3=HS=.5V;9'=9PV;-T5]_:
M531TUV\8RCVL?EQ_]/G],^?R9_%G\?XO//QW<MTU4$5%DM%7.5,-TMU--%%\
MI:>]4PCIMMC97*:>,J;XTQMG5/&=]L8UQG//WXXXXXXXXXXXXXXXXXXXXXXX
MXXXXXXXXXXXXXXXXYQMGV<>?SZX_^+;&O^[SYY5#6/=CN_>L;(V'3'1&J)!6
MF]A6]!XN>EW=S2%R(VA4=MSBH2!DE%4>L$F1`[%C$$(DFHU.0F/AF+IKHJ^5
M7PKC387X>/4O_P`GU0G_`'@F?[(G'X>/4O\`\GU0G_>"9_LB<?AX]2__`"?5
M"?\`>"9_LB<?AX]2_P#R?5"?]X)G^R)Q^'CU+_\`)]4)_P!X)G^R)Q^'CU+_
M`/)]4)_W@F?[(G'X>/4O_P`GU0G_`'@F?[(G(S=E&/J;=@=Z"V0Z2]>XK^!+
MLQ4W8-?#GO8X+_>-K6>9%E>*M_<=5&'V:[,_;NGN"JWQ2#/X;?WC17WFOB2^
ME[>I?IIIK_<^J$S[.NNOG^Z"9^?LXQCS_BB?C\<^OP\>I?\`Y/JA/^\$S_9$
MX_#QZE_^3ZH3_O!,_P!D3C\/'J7_`.3ZH3_O!,_V1./P\>I?_D^J$_[P3/\`
M9$X_#QZE_P#D^J$_[P3/]D3C\/'J7_Y/JA/^\$S_`&1./P\>I?\`Y/JA/^\$
MS_9$YLOJ7V>L>]Y+V'KRX*3#4?9?72PX9!9("C5MIW+'3*$[J*$V^#,C)5BO
M:U62VU#S9J-?C5H_M\.^9+J(OW*"J><32XXXY\Y\9S[.<_/Y;8Q^/]+G&<9\
M8^?CSX\Y^GXLY^?*T^K?IL1#K!V-L&_1-G2*6(G6%TAJ_AK^%U['%82%[#WB
MEV(M5G*Y]%@H^;72Y4LANA]PREDOWSV!QG+\4SV(DS)D^^LNYJ"^:=A]]59)
M*QG.IS`(LO&SB#V,/=1\E"26!RL%8,(DT=<JH/&F#\5FL5CTD#)$6)$2Z)"V
MS0P-)"UWC%Q5!75(=QNNEG=81%'0`8QJ60,(V*LAH87C$G=0>#Z6\H>ET+L:
M3$E1Y<>595=*9U:0XW6".Z,W[6R(R(-;;5,,A4;9?O?]7]])/V-[.$ZN-7]'
M)*C")49Z9S`+8-8BNJ*+,GU7WA#."7#'"C8U+])6*['+EYQNR<Q(EN4>/:[F
M(&?"8W%Y?%6VFY?7G<HU!1VL&J?N_#('.:<OMF%@QGLJ/)WE2G=E[7=-"*:L
M4K)$K5)**48SE<7M/X%J]G<]@J%A28M8TJA.D`E,=2!8;(J2]6D4^G4JA12Y
MREH%#G?`&D])7D.UK$I$S57U`7H5>)0\_/R$8@R<LM6/V@PI8TG$6TBJ)[(V
MFLQ:12O<Z#^9%/Z'[S3%^<3K-EV^C%#'B7;HW64!.]@RL4LN!#SG2JK!-31B
M:G6MSYF3I$AW/"SR0U@W(S"2KP9!\]=ECD;K.0-!NG2C%,>J5&CHUK$G]_LR
M9`U74W1E%E7FRF4%#6')_2VOZN+37F(0E9$@</Z]#]\RM#RA[70R+&8&(D`@
MG/:QAN8RT)/'$V:+AW8%3I!V"9)PCM'6UUS2FS;0'$+CO0=-+*%WVE0R,-D+
MFK)H*F9Y&'@#-HBT)#&Y*E9#(>3EI,]/1#.$A'S/W\,PM`>HD?EL;*S#;LPG
MJ\LR@8K($W'8MPTC+>F)%Z8!&INQ+QZ##VUACG=IW)1"''QEF/<SQI,6^UJ5
MFLHR>F9&_P`'J3K?W_BD!A]?20=W,C,CKSIK5XFE<06^ZU6KH9-(QT_+5G;5
M5VN;>S4O*OO<5[$N'TUB#\87)#R`Q_4#Z#636;2N9,P`[K@_7_N7&9]1(V4D
MN["X1I2'7J<"#D/O^&2,:`[#@64R?=LX;V%,6V=GAK+:Q7SR,:1E$$(L&J28
MQ%:*P!C6ST:U.+\=4>N';QO>G4.PKJ!W$=CE.E.U\1,3&06=+(T;+C+`JKJ^
MYK:P;:IPWV`L$(Q-;S"&W'!)L-KT].Z]D,X;.+0@\5AU=V2(CL8OYQ]/_O\`
M//[^?GQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQSX4_P`''_;3_P#$
MUY71Z4G^)=&_]/'=;_G=[%\L:XXXXXXXXXXXXXXXY7%U+_QT_5._T]]:O^1Z
M@^6.\<\\J6%@QI`P9(L1(D2R=$BA0D[;L!PP<R04<O'Y%\[41:,631NDJNY=
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M+&,8Q]?&,8Q\_P`O.>.......................................?"G
M^#C_`+:?_B:\KH]*3_$NC?\`IX[K?\[O8OEC7././RX_AXQG&?/C.,^/KXS]
M/././/[WS_<YSQSCSC\N/X<<YQG&<><9\XS\\9Q],X_+QQQG.,>/.<8\Y\8\
M_CS^3'Y<_+/.,YQC&<YSC&,?/.<Y\8QC\N<Y^G.>/.,_3.,\<<<KBZE_XZ?J
MG?Z>^M7_`"/4'R>,WGD(K2*G)U8TQBT!A,89;D9),9K(1$5BL>')[::*/SDB
M//!X<0STV4TUV<D'K='&V^N,[^=L8S7DIWGM3L5KN+]/6@B-N@'F^S5#MI>B
MIFE^H3/3*;C7<S!W;L<M=79-NV61]H:M3=>I55*-_P#HB=\`-<[OT>Z*].@7
M:I1C,._5LG>[LD8/4"8BLY9'F-?]084_;K++MU8GU5`DB\4E3QGNMGX"4]@Y
M%>TX'9TQD/)!">ZC?:R%BP9#6;0>/:-F+%@V09,6;1!)LT9,VR6B#9HT;(:)
MH-6K=%--)!L@FF@BGIHFFGKIKC&.WQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQ
MQQQQQQQQQQQQQQQQQQQQQQQS&9E,8E7\7/36=RB/0N&Q48Z/RB62PT-CL:C@
M(9IET2-'CI=RS%B!3!LFHN\($'3=JW2TSNJKKCQYKL]'F4`9QT#K.;14BD8B
MTSM7MU+HR703<(H%XY)>Y/8`V"*MTG:+=UHW)"GS1ZAJX;H+817T]XDGOYTQ
M9LKKG=-377.VN=M-M<9TV]C;&<ZYQC.N_C/L;8\^==O&?9SXSXSX\9H;K?L3
MV5A@WU$^H%GWC.)IVZA'8.(P[JA8!,'5P<LZH_N"R1UZFV"%%`:Y%PTYM4+H
M5:K&W'!R&F$2SRC)@6,;?`E4V+7:;CU`HIUUE]Y0\V+[=W[,8KW6ZM='5`TA
M6Z\^YUM:YNO]3G(')(!J(*UX-$UU8NDF#2J8NI$[6-"[)E<E=9C\+@35!D"Z
M0OU8Y%&K$[/B[RZNV-6D*Z^6-T*J1ZT:2.II;.PLY[LMJ]'CT)@E'[.?1EVT
MC,PMJ)#'NT)*2%LW`A)(=1)%7CD8"Y850?9.(=E].P(R)")=&7O7_L+876*:
M[G-`[=1U-(&*B94C((B[%%"^KJ-OQ4V"O`CTHB*+ZN,.4"8)DHV]A:G'I/VB
MN:S.JT?O6V+][@R.70>$=XK)M-,-4-/!ZYLF"4/9=NT^'BL%EAJK8/#6UK#!
MN(1.8>X`S)H-=R*#DE9HU?QU^:&*[G<^L#5=,53&73^I^T5H1NO^E_23M?.[
M2D#BE',E=4=VD,.J]!V')]&$TC7WCL$"8CA@M9H"-Q$'DB^;F'4(#NAF1NCF
M3&_J3PMEVJ$=5#=+7("E<S-W_&*T?&FT+"/Y^9ZZPAG/I*5&PP_*P\G%US/P
MNQIM3=IFD&D+GY&+F,Y?A!#D"7,Z$K[UMJ"ET3#SB2T]>U>1N==3:L[<5&J=
M&P`X4M.+6U<<9Z^Q:OP(F(3HTH&LHC<<^KJ&#!DK<!0)3>:C3&D@:AF)EXPW
ME-^W+S>;=6(G9%8]I*`E,X[Q$NO;`:+5JG:$3D^'ZWV=<`W:624BY,N)WU^E
M45'%7;0S5C-C(VMOP%&*G"(1H!+M#T$^WOJO/9GU"]0..5+'[JZP]DJ5Z'%.
MVL%?RA&"MYY%8\_DLQB(1G-(MH]DY*I;9%'(3G>7U;/@+62`P$I#N&[U(W@D
M@!_H+8K;[#6RNV^=U?@FZF^VV?:VVWRV3WSG?Y^<YWSG.<YSXSGSG/GSGSRC
MREN^\VJ,CVB*7B_N&_&3[U@%O3XHD!'F-0,$JY#RJ.U4K6[`@LY5K9P1$[R:
M;&VYB3F7\ND>$UA2;U=J)8+OT=\0WU4XI9$5%(UYUYNV87G]F]KC<PZYAU:\
M<6##1/3&Y7-!W*IN81EZT,E)$K:B3.'5&(BAHH\LHL40^'P%&C)(4!VAQ\PG
M(008ZDP+"DS(D:6T%GQKD,=':$V2#[1B:#O-='@HLTU7PW(C76FKAB]27:KZ
MX51WQSV.43Q"8=O5>_GJ;UGU4KVGDEB-L]7STMOV]YD^<0>MM2'3>EA+40%H
M^OETK/MB8;MABYI$<5DU,UZNRSHW1M!V9;%`C&8\%].FO7TI`VKVSGTW[P7+
M'GB1F/'K[T#*5'6\@U3TUV)TGUFCK)A2-9O&FR:>@>6KQJ76VT:)Z(D;2,.-
MW3MS8=HGHGC&--<:XQC&N/&/'C77Y:ZX_)KKCY:ZX\:ZX^6,8QS[XXXXXXXX
MXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXY$CLOW)K'K:YB
M\*6'R>VK_LQ)[^!KK+43)C);LM10>HFB2*"`3P@+#Q.OX\HJGO-;?L8W$*H@
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M7((0D2@KY7\'[Z.0&,_>X236(2`J1;O'8N4`=7RB&OU>?IA59=I/MB<4M:XX
M24[:ENL$VDVD9=5XZ%P6U^H1F%G*9LV$-)#`"S_8FT=5Y$&TFC$I,R&$'V`Y
MSKB/,'Y!<CKOSK3U,"]9/T1#F.61/IB2[(7O+.Q4K=31&&*(1ZPYE%XC&3>T
M4:1R+1_9`&ZUA@@I@2;=&M&K[XA`<JQ&*88XQ2D.C4+HWI[)>F`:Q;$DT`D`
M2Z@"4OE&D)^_PIE>YV;R>8*-7,?B0*+N7+`_84D>1W=]%UT62.[!F00*HM-\
MN8OR7T;J2E=<S2L"MPW?B/3?I5ULZ($'#5:LT2K"G>K$N,3*MS8QSO7BS;2P
MR!"0G&LN-/6;X`48/]=!<6!NF;1TEE8'TKH;'^R33LJU[`W<ZD0GL!V`[&`H
MJ2;U@_C0R;=E*.:TE8;!=\Y@2DQ-QT:*8,7U?CCDF(*00<S;0L*XUB3=LP0U
MDOZ'O6@C5D)IXW9EZE8E7O3`1TEBKK!^&!I*,A40N6'7]7%I-ST?A0M=M=5<
MVE74"D,8D;1%O$\[1I!(O""6[U^NO)_7H>M(=NMQZW.R]YW%8O7/L(Q[(L)[
M*FE3AU9M-!=23BD!P$Y$(=70"%1F$MX#8TL]\)KP'$RI.5OM)>8/$"J>_OHA
M@/0VID96MBU48[$=B)-&;'Z9R#HN0=D<4XUD`NF35TRRY4B[,L.JQM@M:*9&
M;20:;L"6-9$4FC@FO*9:F4DV=7NMF=75Q;<3MVZI++[?DLXJZ7!ZB'5O7DB8
M0I%I7AJ'11^&L(U%'<4BL>+M@EC.U@A8B#EYB8/F4H&FR`%]'XX3'1YM$[?T
MO:[76D"CFY+><)R+U`8EZD+IOLA6J:;6]H;O&MAT<8[(P1-;6K7>L1`Z$0+I
M5W*%/AG&S2:,\O%?&&L?25AT.F,7M&H.S'8>G[?CMD]J9:ZLZ(ITX_.2*`]S
MK>UO:\:4/!I55AZ(O()BTTT)=6Y3:/\`WWKXHT;+LY*3SA?"]BU=UD4K\Y+7
M>UGV#+XN9'P$5$8+,'0$H'K9A"8HA&GF(Z>2!-9R??3=VCB32\K8$IEQ%T>V
MV5&.!;/=5HKMCE$`3J(+O3O;ZE=L5_8<NZ]]H*ZN+KD#K3L'7B;)Z4;1];I9
M11E6M;5@Q?.(I=](%C:VY$[5DUT33;O5W4B@,DKV>98S-A,6H^Z<OAU@Q?K7
MWQAD=H6_I:1T`5/8L7>DWW5GM60QHIE!"CIZ?WV?0RU'J+=9\_ZPVL[:6L/T
M3?+U\4N:'B74[VL9QG&<><?3_P`XSC.,_/&<9^6<9^>,_+/SYSQQQQQQQQQQ
MQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQSC;;&N/.<_FQ^/.<^
M,Y\8Q]<Y\8SGQC\6,Y^F,\JZDW<"U^U<A.5)Z<K6,&0`D@_C-G=\IT)<R/K=
M5Q1D[4''([1@-F^$Y[=7,#<(/&+T=%9`(HJNCB"S:R;/(R8,\J<M)KK/T\JC
MK$E*3D?4DMB7)9:S`A<_8NVBC:87K<A4:FHF-5F\ST'C$&T>!:K+HPVMH:)B
ME5UXQ75&P&$1MBHLBK*E3_!Q_P!M/_Q->5T>E)_B71O_`$\=UO\`G=[%\L:X
MXXXXXXXXXXXXXXY7%U+_`,=/U3O]/?6K_D>H/DUK;J"L+YKR4U/<D$B]E5O-
M1V14HALP$-#8$PTPJFX0^(9.T]\)NV#Q%N1%$FNS<F&*-6A02]8DFC9TE7*I
MIVA].[?VF25I]V>CK'?YL,;E+*[N]7`6,:XS\"NMNK).YU*QU%/.VK%TH1[<
M1(7KOAL[['YV08`;%:?N6K+_`*[C-LTQ/8Q95<S!CE_'9=$BK<L(()IJ[MGC
M;*J&WO6144^2<##@,DBS-@"[5X'.#AQ5FZ9H[,XXXXXXXXXXXXXYQG.-<9SM
MG&,8^N<YQC&/W<Y^7/&/2,!%A3X[)C0F.A!B"CHB9.D6882Q;):;**N'A,DN
MU8MD$M-=MU%5G&B>FF,[[;8UQG/(D&/4:Z&!2"H97N#UR)GD,8V7C<7MR%S6
M3()^U[&ZR\<AA60&T4$<YURX748:HMM=]-W&Z6BB>VV)-?5%Z'O#)`$CV'C6
M'XQ/15UNXCEA-!FVF^4<:X9&W<,0"$]_[_I[20TB[5TQA3.^FN$5O=Y"V]2?
MH.HY09$>WE`19V[W]VP;SRR8]7:I/?":BF^!6L^=1G!3"6J6_O\`8?ESJWV]
MA-;9-11/3>5D+L.!60&2D5>36)SP`LHHBD<A<C#2L0HJBILDLGH3C[TBQVW2
M4TV35UPOG*>^N=-\:[8SC&88VUV\^,XSXSXSXSC/C./KC/CZ9_-SGCCCCCCC
MCCG0)%!H9@]*%G[,8,&M5WI$B0=(,F#!FV3V6<.WSUTHDU9MD$==E55W*J22
M:>NV^^^-<9SBOM_ZG?7`\4?QWKH.MSNC)!S_`$&.T.HE7G;;@S0AOIKMED4O
MY;>-=:`+E+??"+I`W<[!=BKJKH\11V16UTY_"OZDEB(+?<;J90U"L5%]<-B_
M9+LB_FTP:-M\^<*.ZMZY5]*XNX=I:YQE=DGV";HX5QLBF04T\.,]YM4OJ/R3
M=FK,^Y'76$M,^W@B,I;IH=^U-4U$D=<:CY7<?9>QV&CA%='=5)T[@+A#9N[5
M:K#5546[W'>5ZU]OE2+1]IZB5DMVS9!PBL%0ZX=6LB2"BWGW;M]NXKUP:U<L
M_./AL#S(]KGQCXMJ[^?GY(T!WA::)+Q'ORR4(ZJ:^\1LOJ55$LCRJ&%4%=M?
ML^`2JH#R3G?1)5OAQK*%$-$G.^_P.ZZ:*NG@J9]5N%/,.,;=!^Q`E!//O!B+
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M38TI5;.$8S`X2$-R@VHW<[,1JC=H\7;P,UI#L9Z@F_VQV\82#KAU"?864"=(
M8](6[>V[I$J[ZZM'7=FS8<4>-1,3),]<K..J5.2'<`X0=;#;PM*QV3DG68:T
M:-1F.0R/A(G$0(:+Q:-"1X&.QN.BF`,``!B6J;(6&"!A;=H-$B1K-%%HP&CV
MK9DS;))H-D$DM-=<>YSX4_P<?]M/_P`37E;/I6%1C3IE&T71!BW5Q>_=;;*:
M[QLBIC'Z-[L9CSG1177;QYQG'GQX\XSCZXSC%B?V\$_7<7_&++^GX^W@GZ[B
M_P",67]/Q]O!/UW%_P`8LOZ?C[>"?KN+_C%E_3\?;P3]=Q?\8LOZ?C[>"?KN
M+_C%E_3\?;P3]=Q?\8LOZ?G.#H7/T+B\^,><^"#/Y8_+^K_3G'V\$_7<7_&+
M+^GX^W@GZ[B_XQ9?T_'V\$_7<7_&++^GX^W@GZ[B_P",67]/Q]O!/UW%_P`8
MLOZ?C[>"?KN+_C%E_3\?;P3]=Q?\8LOZ?C[>"?KN+_C%E_3\KTZBK)+]S_5,
M605362WOKK3MHHDIHHGMC/1V@LXSKOIG;7.,XSC.,XSG&<9QG'RSC/+(><9Q
MC./&<><?^<X_?QGYXS]<9^>.5U7#TJE,:L*2]E>B\W!]?>P\H>8-6C"CP\@2
MZP]JWJ&NF/8[`5V%\/`%B.4$M!XSLO5:0JY`R6K!"9:VY"Q#>O%\^ZY=U(W<
M$Q)T1:L).];>VL4"Y/2SKI8I(>^)&(X@MJR<651L\'IMHMV`IA=]G5)O8,%Q
MH1CJCI@%M:'5C-7"L2;S8XXXXXXXXXXYQMMC7ZY_<QXSG.?R^,8\YSX^N?&/
MECYY^7*VK$]2:`JOIG%NJ-?R7N-+J_R40G\GK@]%H?UBJ1Z$:;OCJ-S=N9P^
M94U%W,79I+.9C$8,_M"UHNWTPJ2K?3*B6F^@!4LM^^HC*[-OGU/*`HVHXS@"
ME-X)T0)0AJC!$9F=U%PH18G;2\DIA.'#B6/5FP@*:AE0=<B<@<*)8CB2&SC3
M??>U:=&O3<E-A6`_80B`]EK9JN4(Q&R#UZ6-*NW4\KN;O@8R5)`#3^]I?:#B
M#23:.FPY=(,Q2".F8<D.W2:-F3AOIM/^'U]!*]%I`X%#(I"`J.NJ:(F'QT-%
MQJ6FFB:>FB3$"R'M4]-4TD]-=-$L:XT3TUQCV=-<8RSW>G_M*?\`SE?_`-_-
M3??JB[(E4MIG[Y59/)O$VK5U.JKWD,3E<IC+%]E-1BYED'5=D2P1H]S[I1DN
M9%M4'G][4;;JX]G;$;[#]-[H5+ETY29ZWU9`Y`$;J.$['J9FYZ]S\2T:)[+[
M+:6;21*MYBR;,=4\N=-]Y!JW9Y2^(QA/*?MZZ:@%.7.YA`.V^@?J(/;3JJ5#
MWQR%1?LZV8=Q:4D@_919BSWA]W1Z05_V,;C5'3)9!(\7N2UQZ>4E'"`-_GVM
M5LBU[_R2BEFP?U`:%/=7V.'"`_?LA$3N]V=+7JZKAB.;OC5U"0<<E]&,WS]W
MKIA?LG5U5QAFHHFR:SH\IKLZWL:!G@DG#BY#'"XP^!.#V9<*;"OVA408%$$-
M'3`F*)L%G#$B.?-E4W#-\R77:N4%-%4%=T]]=L^MQQQQQS\U5DD$]U5E-$DT
M]-M]]U-M=-----<[[[[;;9QKKIIIKG??;;.-=-,9VVSC7&<XK&)=Y;%[(E24
M(]."NX_<@YB3=@I)W)M!R8!],(20'O'+$NA!2X'9&:]MY4'<LW+52/T7NQJU
M,JDJ#E_8.#EFZ['GKA?3;@MA$6<Q[RV'*>^$Y:NFS\>#N(<+!=:88[:[*;(:
MUUU*BZF*>8Y;[;)[MI19S2W;2UV3UT<6,X0QHAI8D("!P`M@$!BQP<,*:(,1
M8@6R;#A8UDUTPDV:#QS-)!DR:MT]<)H-VJ"**6F,:)Z:ZXQCGJ<<<<<XSKKG
MYYQC.<><8S^/'GZ^,_7'[N,XSR*%\](NLG8XNQF%CU@-1M0&CHE$[U@1`S5G
M8&$[H:+89J0Z\ZX(1BT`";19;+C4:VD^P1TIKKH2%/F^=T-HV.!_?[I[X>AR
MQ/U'>O[#.=G\;D"4#KKO7"`Z"*7MN(Q*6*<$H7L\FR305RE&90'H:R5F^VZF
MD]LJ0[MQ;R8G7GL]2O:.)/Y;3DOP;Q'C"L7G<2-"#,-LJK9JU127(0*VJQES
M`-/*PG0Y%9%=U%)L`#%LLEVI-H@[%/63]SO_`(XYJDY>E,1FV(50\AM:O`=U
M6.".2>`U.5F(!A8DRCL:QML?-QF'NGZ1TT,$ZI.-WSQ@Q6113:/E/:SH/?;-
M_+O6_:\Z\Q8))9\Z+*KS"9QZM:_B<7"OI--;%LB69=YCD%A,;':Y=&#Q%N.*
M%'&RBC,0`C@8]+).6!Q8`:-,-;`>Y=3F;/@],O!MB1BS)Q(;&B3>+RF#$A6X
M625?6L'MN3#"YG19W'5TE8)8<9+@34;+R*.R'98@S$F'#L,52:2D3*C%L,MD
MB#)34EE3`_;1TWWU?92TV44PSVU4SJZSHGINIOAOE3.NFFV^WC77;./"E$S"
MQ6'RB;NMW!$-$0AXZ5T!I:%7^S:-LG3XJV9,T5==GA%%)DX3T'Z*:N%'*?PN
MNN%\XTY&6D>\]$7L:K>.Q]Q.8D:NFL4;EI5G:%>2FNTKAK10/'C[N1UL3/LD
MPLI=!`LKCA:3Q-F3UG$7%&6!601D<,6^,UEYE\SU67;;.F^'#9#1TX0RLGA9
M!LIE3&CA9/VO;20WRDKC1;?75/?*2F-=LY3W]GSW6D?*:!R3O02_T9/$R@!^
MOHS=:M7[AJX%HD`[M3"F$';AD5=CDGC!31=9J1<,TU=T7BJ2O?R^9:)95V=-
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M\8=P6)S:+P`VLG)4HOL/V*M)!,0.F16GM+Y9.\O<[ZI:>-MT8]+/TTLX\XZ`
M]-<XS\\9QUMJ/QG'Y?\`\J<?W++TT_V@'37^394?]5./[EEZ:?[0#IK_`";*
MC_JIQ_<LO33_`&@'37^394?]5./[EEZ:?[0#IK_)LJ/^JG']RR]-/]H!TU_D
MV5'_`%4Y`'OKZ=O06#J]+,0_I/U0C6)3Z@76>)R7`3K[58[$@BA?:=?;$7-X
M;1;3[4C9CX=O]K@7WOQ)3X9K\>T<?#(>[GVEZ6?IIY23SGH#TUSG*>F<YSUM
MJ/.<YSKCSG.?NI\\YY]_W++TT_V@'37^394?]5./[EEZ:?[0#IK_`";*C_JI
MQ_<LO33_`&@'37^394?]5.:KN'I)Z-W7R)(SV].JOIYT]"G!\'%4)99=.4+"
M8\M))*\PP`@DB\A`L&*A4LZ]I-DRT6V76U276QIA!NX52SPYZ:?I;1D"7E,B
MZ,](04:`""!\Y("_7NF1P8.#%,EB10P4)NHPDS8C!PYNN^>OG*R;9LT15<+*
M:I:;;8@B1C?HI!*U&W!(/3DIZ/5Q*8SK.J[E!GH="F+2QX"I)H1&$)G'&N\3
MR1$#'JMAQ4Z-&6`SA$K*1%ZYE@V..P8T@[;SWW],?TP4L/ME>A_2I'`S3"A'
M*O76G4\,$]M=M]%7GMQ?7X5+=/795-1Q[O3=+7*NNV4\9VQ).DZ!ZZ=<A9J(
M=>J=J"DP\@()RZ01NI8/$H`Q-%-V+4*C)"PJ*CAB1![L-&,Q219V@JKEF/;L
M=%_=-=$M-7/^[U+M9=8D=8(3Z2Q^H)U'ZKM2SXI!BT@K*"6C(GD>9(0`I(F&
MV[XH<!*RR-YGCV*A9#&:TR5T;V)((N]9%&C"7"CQHDNW;*N4$W#K*V&J"BNF
MBSC+?7VU\()[;8W6RCI^G6PEKO[I/^^*>SIG&W/A,@P63752>-5$FJRK=RHF
MNEOHW<-\^%T%]]=\ZI+(9^2R2F=5$L_)377//'<"8F4+"9&[&`"!N-HO_L,V
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M./W,\<<<C_V/[-5+U7@&D_M<T_0T*FF$0@D+BX4C,+,MBQ#>JWW:K&I:]`HN
MY-8-A211!;`J-@&2ZJ;1N]-%UQ,=%ES+"$K/K9V.[Q+)R?O:[>4OU^=;?$1[
MT_ZKG*ZF\C8;I;8;K=T[QA3]BYM,@IJKG<CU[J4H*H`2MA8/.)-V):Z-"3/=
MG=*H.N;?HG;5)3DTRZW]>W-?CJ\Q)*X&QN(!Z;&%9"`"Q0^!#ZL$(:&!1&3N
M@)1V-?#,1;84T>-C3-40J\3VI6M?MCVMH.I^^P^RR%&ENV=#-?3A5?=XZ&B$
M67K+LA3-I]G%8)#`=KU;.6LRC]7WJ#BIZPR!^,C2Y]DT"S.+3*`D@@+$<15V
MI*;&NBJYOZXEV4!*UAT@Z_\`>WJ+<UFQP*"BLG+SWKY`>D?3]]V'@0UM(11[
M4/("=1,9V1BA84.^WTIA&QK)COOAP];[^]V`[P7V\D4`B8?LI!^I<5[/=>.Q
M79_K;?5VN8-!HBVWC,Z@0VF*^W:2ZJY2TF2HNE#`Z^)Y4)=0-9<D:ST^+;RX
M$.K]'#23G1BSNS%U=M.YHFU.SN\@B?5^RZ?@[&G876]:1N$%-;BZ5]?KA./R
M;TO$%[H&BXW:<OF:U<LBDI%R!F.V)1ZQ'$N?L4T@/B4!:=75_P"JIZN+V<6)
M`(4D/J[T['A5W*Y=&XVFP'B:JOMZ_>DURY)CALP%M5]7;Q=UOHBR;JX74V33
M4QOM'R0^HQ.GGJ!TE#ZY[#M9'5$Z[P0WKQ-:P.1FMX(%CM=6)Z?LD[%QD"*C
M!A,O>4LF327,H?8)&_%I!`JZ=I3T+4$7ATM4"21^UK_Z">H)8-%>E\2U&2)]
M#9UUUZI16<5-3Y`3#3\1LZAI9V"-1>SN[8J1L8X<F!M"CMRTT%S:KQZZ+*I]
MJT9&+&`2=A8<:<)_T1=$IC/;&!WHK,>RE.]K:[Q9^J552JLB0:>;1*&'83'C
M+ZKYO:D0AD!KFTB`AV3P8%%0<1'EF<4DHD/,]RA)%N2=X%).C<ZZXFG]H^FO
M)8O3;QT^<&9MTXG2II+I;<3ETX6=$W`*/@4"97J=9A)1=51&T*+!K0TB0WR^
MM.D;07^'>C9$]7NWT,['Z2F&DXW(Z7[%57D>RO+K19FPQM9]7$"65TQ9G7(I
MV\!V!5<O4:/5ZVNF`OC5=3]BU=:#"K20"Y!&P<N>...8!:EIU]25=3*V;5E8
MF$5W7T>)2F7RHVMNB-"@Q2&5W;M;"*:[IRIG&-$&;!@V=DBC]=J,%LGI)XT:
M+UICZBN'U('.)9VMBTNI+I&M[IY7G3$D^?1BR^PX[?=18?.N[F0[EN3C\$*M
M,LW\;Z9LBB;79DMNMVC7D9EVK3<$M7"!`\;$"H_'A0X&"!C6(<*%$,6HP2'$
M#&R3(:*%#6*2#(<-'LT46C%@R00:,VR2:#=%-+373'J<<<<<<<<<9QC.,XSC
M&<9QXSC/SQG&?KC./QXSR#W9/I2#MR6LK[IJ:/\`K9W"BH30'#^Q<*$(%%CL
M?:+[O6M97[`57HL%V"I)P]W5V<P"9ND"\8W>/SM2S*LYJHC*4>.K?;8Q9<LD
MW7'L-"65']R*NC[.1S>L&QA0Y![,@3A[J(97_P!;9B]08.[(I`V7V3%$MGPX
M9/JFEJ^L"M>.A2R\=+2N<7'(>3[H3U5L[M[3G>R;56P-]GJ&A9N`5E8RQB0(
MY!1LW@_C=!>.-R:49+O1FLMEFH(F5$NGX;[R%=V:^JF[3=GC?<[KU/K4-=6K
MIJ/[NE;0Z?WZM=\9K^9E58]$;/%2.HK-HR;PQ[*&X>0+P\_]S;4*R*$2C(,N
MQ:2L`-%%VC<.:?%Q4<NY?6?M3V7WJZ=0^'4F#DL,J7NQ$E8-8L\D[D+DC?=!
MLJNKT4?*PF.I.3;-\<0(N)P]CQ2,J1D(_8(@7TF>LG+IQ%^O/3A[0PV85J:9
M,*[#-()VVMNW(JQ<3B+RZ"`*=M6TZ8LPK"CM7?@2BXN+RH?]RY,;@L\ZYEZO
MD]=6FV$CVRTDIV834"K,'IKU-N:B.M?8.H9(TBB;B9;%TJK$N#P$[)&#9[3$
M<A.P6Q[8BL!@J=E,A4N'/QT.LR5P)6Y"E7M8WO<!2;V`S(&7^'4)TG[`?;WI
MMYN]&J87%_3;I],'',5Y,3M@R.X[B(=:-.L9`R_>%Z\K]"`U<`B1:9&F85!W
M)Y#.)`5BZY?2),8>HRD.I+"Z"=IY`<[7.A8JCR\TEUO2^U:GOZ03Z?,)A:E+
MSBTJ6L4MTAN``-`J[Q:N5XW4SBD2,K3*6"";5EF.*1B&#7IZ;C&NI;.]*.\+
M%CMNI#(C2H9C8=+^HT&JBN)#.2ZP+KA9/:L_UFD%`MX:Y'00TP&AJLF-*6#<
M1`W#T!^U;V1;+W%3!GWP;B0+?A:_I'V_-)AV(UBD`ZYQZL+"C7==6JH>K+"Z
M8^'6!V2ZD]0:NA$B7CC6L5`P9X#[&=?[!N23'PRS\JR+3<98H9`M82YE%MEF
MGIJ7_$)E*B(RNJ%L&B95/_O/)>L!2>%P<-EQJ;=&ZMZ^2ZV2.=X&H!;V7&[N
MKV12W[3>,2I"91"V)G8"A,7;+5J)(^U3_IB=AJSN&F;*-R"N9Y*:O[`]1YD7
MN,M,)/BT9;653>G5CJ)?&'+M]%'Y/606C:K=A/'L;=25R+G<?9LB\VD#:5C&
M0W'L]P_3;NOL99_;@C'V%7;Q&]*T8L&#.URH68"2\YAQ?K(;@)"/$\U:^M"E
MFY/2F9-%K0B*,BL>IWJ#.N[)@<2BU@E++U,81:7IG]M+!7N-C$9+5]43)<GW
M7)P6^0<OF&A6UJT[(,V3JFNL%M``888:$UM3.$159.2#%\991ROZOK\S5P)N
M4/'H_'LEDG0+LJ7MJFKLKBG.L51QF%0ZQ%9KU/>V&9E543LQ9?8FDK1EE?R0
MQI4RC5H$7&US)+(BLIA4<!`8M<[*LFY.KY;%<3MP0OM;^W[A'WB.&ZF4D_;0
MUVTWPCO[&OM)8W3QKIOA+/E/&VFNNNV-?:UUUUSC&/VXXXXY6KZC_P"J]#O]
M9%U7_G3_`)9,C^I)?YO3^;CGZ<<<B-W0Z+]8/4$JD12O;"M&]HUV"GT:LP0%
M5.2*.*L9A%4R+0>01*1<H()^Y<"31L&48;.MF1,.7?LW*.<J)+(9]V-H,#V$
MZR7GUB<E'$*C-VT;9-&.#(!DW5=10)8D#,0/8F''**-VBRP)B6PY8L%5$6J^
M6B;17=-+?;?6!%KT%V_OKHA).K4E@=+0ZPAL$JN"M9,PL\J^@DZ+UU.Z\?.I
M.#U9UYH<@L8+QN$D#*(`V$+&1IDN-B6F7`\:ZESF+\Y].3LM+KMO^P749KT)
M&+397(%?;U1;C.'S"0:.^Z].=@Z,L#1E.*4L"-G9Y$ZSB!Y&11J\G%FU<<L%
M605OI'`O7B7IQMC(#JMTR['U-V3JNV)RE4S<:'Z[1>MK2^[J85Y%R,GC%40*
M&A2](QK,/&3FB':!8`1!S6`A+!/]>YA$1P*6A8!$;,V=$%MZ=8Z(O;JY,+TK
M`''X+-*?MKL]=/9J*VV0EBHZ1Q5/L3.B%IV'`)G6^D>^+/EX?-"QX=!)(%E^
M6$CB)&/)R+6,$(Z]3+X)V"ZA799?;:06&P95K)ZZG-4T^`KBRY/(S@^TNE5M
MT]);:-D;(JJ*-`;AE-4[&9V+'7JS)E,83A>5U^''V(UE<'4;-!\.HEZ8M_D\
MTF]F4(HR,MX5*N@;:[8"%GIR20BX2/5-2^F]W=A$V;^!M4B4YO./VC%HMJ"F
M+5&0RZ/`WP^VY@Z2'`=5=:5MZ/E_PA3K\W6CG7C[.BC3K(WNY(?,9!LG,MJ!
M[X'[[2UU9KUF@C-&X_K676IR&I2;<.F.;$GU::I"ZU0T>N/9C/I0=F:W%1A[
M7@7KV#*`X-,PE@18=+SHN.7C'1/J11/M35="35TRK=OLK5Z/6`5*Z!;/"3)X
MQKE23:P('$C%0N#NCS][,])>_9U'+(3!AZ6%*2NE^WPVH8F=FIOX#KO95X]N
MJF[`T:#AA`?!"R(..T@)@,H.BY/#DFKB"SR=$(W6`!*))?;NUB?:?JE9=S]H
M.MUKQD-$%(S!4!X2QD9N6"2Z*EX24EJAB?1M_6$FA)=X-E30.F@]JZV*CG,%
MDNLGR\AUL"YQ4)9V%8P'J3TMNR->0RBJH?,:58MH!6?I\1V)6U`Y@6'G^L4S
MZ=3_``6O8Q5@=6O0;@^-[91IJH9,IM%(TN1E4TF$4MO65P]F+)NNMCTR.W1J
MF*:@S=O0]0W=4]LUP0GG9:$364R*37ZSJFMNT\4%7;*(Z>A237>73LGV!9[6
M'$#+K2;%QA>RAF+I0U"5B53MTK3JO5Y1E0EGW#UQH:+]@:D@XD`P2KIGI((3
M7Q,>F.]EE79,C&XHN1`QI^-V<UH4.Q4?(84Q)$T@N@5Z<DFY28?T^G''(V=J
M>S,1ZKU8M/CXDU,Y2>.#(#4-31'1!Q/[KMZ4:N4X75L#8N-M4%39Y9H[?%##
M_9".P>("I+84T(!X7%#Y=E%#II`HA85B+=E[VN"BK][J/8L\9)C*EG`*=5WU
M1K@RNU3)T]0#+!!V<'A7+Y%HA;-SEQHF;7M+&:+HZG'(*'KZL(5:%]/ISJO&
M;,BW59/VK9ZT7UQA9J[;I.6RNNN^N^N%45]%$5,:J::[ZXWTV\;Z:[8QYUQG
M&CUFW6:O%&]1+HT9"%I2NYE+2M%4Z[C*DA<H)^V[D+>%*:L=B[A)$;[;DPD*
M<JII,/:6<ZZ-,>[]"O)SU[GSZ2-JKEU.S,B]9I.)<A7\@@DC>N6"FRXY%:1)
M1AX^<+M%-\.&*2I77=#;?"S73;.WMI\\MY*NK]G2IA4C^241/YM`SFI@;6;L
MO7<LE4-D<)PCG4JRA;AP1+QTW$\.6^</VPQD1C^'".<JLL*Z><Z=$*J@DH'-
MWKVOXA,K+(+,12#IS&8])IX4;:J/G#0>FMNR+RM^WU45=K(-L$7*6NZCA337
M&V^^<<FL;Z_L2PE2PP=/M#<Y-_8X129"X*W*2V1.D,K?98O<\VT>2`TY;(95
M^!9Y>D%D$<[^ZV33SMKE+JJZR?'%I.\KR#.Y&X6"N'!]S$(XX-KN(VP(BH^N
ML66&;D%5@0TP6'AE5'.R@MB3(LV&S=L^=)*]IK7,`8J,56<(B#14:@^:CE6T
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M?S6;[1`2@>/#XN)]A0R8:AEB(Q0FF*:[[OGC9FX4(;MDEMVC5VKK[K;FMKSS
M8$P,PHC4UQ5L2%14),&Q"PXR`9QT^*-DR0K"`*11672\2Y,"G(_50T$>.1Y-
M@S(BWV6RK1[JKIO7V\?7]-],Y^6NV?IGQG'RQ_A>?^K_`(7U^7RSQ[6/_>_^
M';Q]//U\>/W?R?3/SQGD<+_[/0GKH?Z\`9F`FA;?LG?D:ZYPTG%AP=^+`3N6
MQN5R@*[F2Q(^(=C8ZY'PPXA]H"6)UU@@FW:[,-??ZJZR-U5UVUUWQ[7C;77;
M'Z3;.?&WT\XQC/C./Q_D^6<_+.,YC[VH[+0'J%1$\[$VBPECZO:V9CR4L^Y8
M5O(9`R&$3(\%H_;`UR8E<BDW(%6.KE%BLN]T16V<)M%D45]D_.HOM965\S*Y
M*P!-Y;$+<Z_&(J)M^J;"C^([-8:C/@BTDK^0J)LWYJ/GHC.0K0BZC,KBTA.`
MWSD0=#JO&IP$7&LY*YWUQCSG.<8\9S],_B^6?EX\XSC\>,_/&,9SGQC&<\Q:
M*SJ(3E$ZYB$B%2-O&93(H0?7$.M'B(J6Q)_L*D\>>*)^=$R@$FFJ/*M<;;*,
MGR*S1;V7"*J>D$9SZFM'U[#>TL]D$(NO[L]/[KA-`7`]'0N/D%4;(L#-<[1P
M=%6:,WPZE;%5O;M9NGI$<GHBP;S!ALYTU49&TA?M+^I3UH%A+:VDK^:Q2R*6
MMZ`T%,Z%.0]U^'!>Y+>:#B-,02'PD2\+-IZZN`259FJ]D$-.FH:7"(G#+V2B
MQD2E[H#N:MNTT*GMP2/KZ>C$YJ2\8]!!UIZ5E9K.+HF)+6!`MI'%)_"SL%EL
M[@\OCX24J(1>6Z`Y4Z,PLX_"-I6($(2:,.C/@]NNJHCLO$(\_!R%S5W8.GC3
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M,M3B`_[O?9U03:.S/L"1L]F]3ET[=32)==6*R:\E":)8]7OJ6O7L?I>.P"N)
M`Y%V,K)^ND(DEURE<A)"/;]E`JJN"H(1.I+$U9#'GX"ZJ4L`]81.9@B2BL-/
M0*7Q!P%W<,<(--+WEZKU_,ZS&3.J8;5@@=;#Z>:0,O)E9,N<IM&B>^-#]/K3
M"7N`V63:,CTK8W$J<CKUAN):5[+0SR$'Q\Q4^!D;KLSWU-[?J=3L$.@-75R6
MD$&E/J@34ZK/K9M<T((-^@T8H"6[,(\V)+FW$31LN-V"0&XCP+85#:Z,M&IH
M8"+-WQEH3FM5O=.Z[>[3)53%Z;CJ51B3QYE/)@L?(/I!$8RAUUHRYX)+<N6>
MR46(N+&EMPE*\:0?.6LKB[2#+S$J@\9&UA\>BQ<OJRV_1%@WJ4D]+5],*4IR
M[.T5&J#X1+I3M=*SZA.G`'N**L<F'>A74?;P%P#>/(18"C)!RXAJI..S)%X2
M8K*1]YZ%F^I]V"J,[84*?TW5EF&(K*$ZI@LQKN52K2&7)>ML]8QO8_JI6$1:
M.DR[T<ZMXDVD]-$23DT41"R(A4<TT2P"M#`6-9#&O5&L2WYQ6HFB:ZJ0]#I_
M7]>7R&D5@6JRKU>5T=)[4CU*2@@#:F7K=8?(XA-$ITL^RS8SENAOBJ8V0#,W
M-HM9"*FKT([`VSVDHL?>=E1VMXH+FQ4^G!@$!*2@T[8B(G*Y-!BN\J)R)LR;
MKDWYF+KE&:(AHBW8#GR8YWN[>-%'SF;?''''''*U?4?_`%7H=_K(NJ_\Z?\`
M+)D?U)+_`#>G\W'/TXXXYHGL\G>RO7:[4NL2X)MV%4K"9Z4TXDFPW00C8VP1
MWB+*+J'&C^/IKZ$O=9'J2-B]C29+X/>1,W(35^COI+H&S[/LZ?E>G:+>T,&%
M;:F*]3M+W)T69OP=3"@^.8CS*Z2G6I'2DW<QTEFLX7#[0=P030KMQ"&LB(.)
M8@<PG./E9?J/0KL85&518-+W#M5L1K,L8)6#AJ>D@@GJ9(R*M5H),AT?C;!Z
MI<+P$R"3V`BZ$+^P%LZ06X#U<8W>@F&4NWU/[?,+-OR[*-DPN?,K58%K`E3U
M4PY'$(`!0K,M7,(E-:Q%N.*J.QR-:J6)`1KJ0$1(IK<4H?3N=1-1>/-VNC;2
MS?U);.<$6<#)UU`HA83'M")Z1V(\)$Y@8A]9=@IM84MS610IOEG''AN!SZA8
M_$K.BC7#\`8D$HNZE(#H6$YE;\R'BHY]32_)SO<[J<P>N@D!KN,=062\)C-B
MV1$9,8F\W]2VW^EUBV'"K.B1"/'#E8O'M,HS>%MT=1C,M&BPJ(2]0NU.2++O
M<<F]5NY8I(K5PO3=7&8U'<^HX`@S1E81D7)74DZ$WU7%8J%92N:8I!<A9K$K
M*TDKN.@?>24>9BJT=CJTE(2T(.'R8G7<V^:PZ$]H^VDSJ>$-992A.\"-<1IT
M8DP&-676-7SAY&H981OXQ$E)X-K:,<&J31K'W+9^ZC3`F-;N'19#'VD[BU(?
M53OJ'G.T]8GZHIY6T.GL4[)7'*";&5R]"L;^K'KX%I68/H/2QQZA@B%N!$'=
M0^-6$E(-),(KJ;#`"3H.8'3_`$UAV;#O5(LS:\$^OIFE`0NPWDTLFFV[%0I*
M$T!=V_$0ZT>N$,D2S@>GJQVOKIV>F?8I)%O\2^BRU/V%"G>'&^@8R0Q*)>IS
MV;LV,4))8-5'7!B+[;6)4T6H\D>N5X><1H;:->=C)4Z3LB+010T<W*0<Q1XT
M$55]["5B4A+S"%J1F/&8$X)E;U6>7.S1KL\PAAWLW0RZPVRIEOAQE+3*^$,K
M8PKE'"OM^ZRKC"GN_9]O'M>>=GCCGD2`^$B@(U*)*6&@(Y'!)$Z?.F'C<<("
MA0[-<B5+E2#M1)JQ&C![9P]?O'"J:#5J@JNKOKIIMG%:W4:*%.TMFY]1RV0I
M@>Q/`W\4Z+UE+6[INZIOKH=50^T+E(QMZFDD"N_M>@W92N0/EVNLCA%':UQ4
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M5.OL>A[T,SU(W9JW\WDO053IE]C_``&MGN.TB=I5AK:NCS7RF4^_*X?-Z:]K
M,%,IDM(UM<>]F;)M-)'MK8#ZM?7XUV6@=#UY79IO&.P4?M&9W)U7EFSUH/?1
M7LG2=+6/9-0%T7"^<*;`W4F`M8S-&J7M(O8/(3[5YKE!7.=:YA5^+]X>WGHO
M=W3\7+U\"/\`8&[*EJJKY@F]'$8Y(0W07LT7[-O'+(UJR1=FF_8D$-I`*:8,
MU6S@=2>AP2068S5/3.,2?U)>[I;I18/=6!]E>M8I!_U.<6JO0V[:.3JW:.NZ
M,]AZ[A!^-ZQ;>N(/M&(9'6$KE-.VE&+=D5AS498`,`7B$C0<[246CORTNY_<
M&INQ]\0/-^C9+#NOGJ2>FW2#429JVL1[J=4_Z@.U2,YQ!YB5%"6+QEBIE)R8
M(T_)8CB,RW_HS=&S#%F(I[;\CS0-V=ENM=LV3*J=EPRQJ_M/UJ_4SIF7=.F5
M?`%)`>%L8+;%W+6K%YZ,3>ST=)8=):V#?;+++?6$NX=-TV#T-I)-@\@*9F2]
M0#NL_P"KL?[1P/MIU?/1.VHGZ<$I$Q4.UBMGV%4<L[']L:HI&W!IH>+KZLP4
M:JY['K'DH,=%)\1E5OPRR:T/B49X9;-I$N`G@#[(WW1W<RNZ$["6Z?GU4$3@
MVJX[>,8B-%)0>66?IUUG]UR.ONSL3!L`5E]>K:5$!L6?7DXAB1'K_+ZK`L(\
M78QB:ORI-Y(3M-5Y*X8Q5?=GI<:BDL[%TZ$S,:8D,9EPU2"=FJ1E7V>9G_7"
M2RL4X?QF05Y=@)DT(5W*72C\=7EO#*_L\,\0:CCR)B6]!7C`NR5/0*[JR>OW
M<-L`+@J.2,,<B9"%?M';H1(XE+`NZBJT?FL)DPXQ#YM''6_QD=E@,P%>8U<,
M5,<W!RMOOL3+W,8J+T_X46*"B?:I62F+Z/QUZLP-P;I?66X7-\.V15BOAZ`.
M7$3DT)ZXQ<DDCH^9ZVG*)0$<HOH6HNWL,CT?"1,"%B\9$#8_'(X)&@0`$,R;
MC@X0*'9(#A(@4/:)HM6(T8/;-V+!FW230:M$$4$M-=$]=<5_>KG`YS:OIH]V
M*MK&&2BPK%LOKQ8D`@\,APAR:D$@E$L$;AP[!DT;XQJEKNZ<:J.'SI9LQ8-T
MU'3MRBFG[68_=@J5F$0,=0Y>"C5ZWKU8/=BUYEW%JB7[V%<$\;Q4MUC+UE4A
M(A5TC0-3:7U?6UPL(M,IU5(X>;782(O^$5&(%M(XYRPK8.]=>Y5>UX,#/:Q[
M'S$787IU^LK0E4C!NLBL"5P!Q/[UC5K>GA7%P/QQ@@ZC,TB-#A'48A4KE+C5
M>(231*N4I`TE"C=F\QZXNK?9B;@[WL%"C.Q3RU6W5ST/CM,/U!LZUDP+L!1E
MR&G_`&;=111(PHP$6)#:Z=AF<Z)L5D\%A#@T)0('</)$U=;2GE+7]..P=<K3
M+K9=![L76WK:FKM8=AUZ]-R""I]'Y1#+B$]?#HNT=TD(NVKZKH7)JRATQIQ-
M^H<A,XBTGDIJ%H&)!N?-Z`,=6+QG/2RQ2&*+]08'W5%TYU:IGL8$?L0T-KFT
M+CK7M;4DOGUE5HM5PB+DNPLHWC(&XY?'.RFTDD&[6JILG`Y#*24M--XM&;C?
M4RZV:(^DMV&ZU]5JBE#]>20K01656UV".%Y!DE++7#3@I\".+[.'@]5-P\.R
M![N>6;-!BNJK99-'.&X[;6U]=0]:ON^E.QL;A5O]AZPO?L6*/>H@UD8LU8=F
M3.N(WU[LBONKFI>F!46$J&J4H"T9.RD)JF(?!-EV!J2JV<6B$I,Q\@08P]$T
M1W!KD1U0=I5W;=K2&M+`G;^NJ&N>#2^QHECK7+N_'WKI&.?HB(_*$2G53MAU
M^Z]-HB74E\Z(F8)*ZW$ITM80DFK']LMIA]%^M/::FX%?\$I096'5DEKZA?=V
M9R)W<_7(W98FWJ9L+L/-IY1A>JW<"O\`J/42(;UI)&*2)0JG(6HY<AJ!P$8O
MP)=%>+79&D+UEO63UG('':1O![*;]]2&@K6IMJ$K@]L4G5<1P3T+#R"=0U9X
MPW'*M8ZYHNRW>5"ON/\`\OLW.K!ZW-A4BDINSOI^8A4MI3N-1L:GUXVC#N_%
M8=R>R8V9/DBUM7-`@='V-UN:L88"(,8>#&2'K[7MEZRZIZK&C8JTSJ"E`04Q
M<3R4:9);FQ7TT[)>IEU_[-QZ'3RO:1ZE=:.P=>.9A8$&E-9'+ILGLP=J%9M#
M`,*G(^-S=6%U5'*L=260R@]'1P1>8R4$$B>9`Y:2=Y'+8^5B=OFB75J]JG[^
MQ]3[(AKI_"NM'=1HAE!L..T5.I4H%IZXC6N^WE8SUENB8,G6Y1-'*C&E[0N/
MXW=5`6)U96=:Y\X\_NXSC\F<9SC.//C'GQG&<>?'S^O.>1.[4=Q*UZF#X1M,
M8[9<^E-CDI6RA==5!#OOM.SC&OX66L6PI"B+<%`0YN`A$+"/39IX],-W#A3<
M8"`LS4F-!PSZ0->3V*6I`819T#+:'H/8T0C,[AIQ-L[9IF8K,`C&11TLFT((
M-7[9,B'),WFC=ZU;NT,+82<H(K:;IZYARLVZ/47I>D[8LUI+:ZD[^-4F1S44
MZMP,Q#OW@ZU3?7HQVT&5("#J>Z,%VYVLXR#PH32+LQOX2Y;7\/V&.5WSXT"]
M;JIV.I.X(C7$:KV@A<&*"[4LP:K7@(-#%(M5Y2OT/B)A:04['QK"-.PY!S/@
M00?(8RQ;&SDHGS\/AM[+"6OF,OWE042#UL64/ZQJ</\`?MHY(VU(7<*AC#[X
MLF:?QCM]8A9<6EK(FK-)M\2X=2=P\103;_$+*:X2]YKH=Q-O3\=,!TB>'NJ&
M["P)3,X,/+OLU/II*)C(7(6/3^,_$O$-%'YTT\(QL++ASK.SDFY*1T<<3<;E
M`Z+F-,4Z_P#I^5YV/L*^5K_A;F:UM9VTK-1F6S+KZS84I.YXHK4@,4WEK6"`
M+H"@52.[ZNH57,KM8S!!1;.\(`1I%P&&A1.UZF']":ND$YOP!<%,R<AW1MV6
MR`=8TCEU2F$Y/(7["OZ>E5:UQ,!X]@\?1%N4@4-C9.&NS1[+><;ZC2*_VP5;
M#<YB,OGTXZF$?<4';?3.N(_##[0UI$0\TI6(`XO*=)BZKIH52!L'X\<'/(3X
M4[AGQZ39`BRE#%8&JLW?MLMM.R9LGIZBYV.W!CJ[%F77BZ35:U3*)5*Z;-9@
M\S9PR*G#^8^Y5QA>F9RS;G'#"01/*XF4#`(UG(C&6X(T-WUV5(K)I_KB5B$`
M4WIRIH(YAUIV&65?3FN*J'Q&,P#:-.Y#)VL(>J!UR\;T?RQ'$OE(A)$1#G+D
M8O)W*>TB';*>9GNOU.4E-?PQCV$J0O(;/E=E0>&L@D[C9?0G+*?"HGK,`J.Q
MY%=FQ*0QB\&:G6+Y=!TR=&0[91'WA-I[SUL]P>J6B8-1;LC1K7$GD+V)1Q-[
M:<)8KG9,.?1T8_`B6KPT@Y(%F;Z81%LX8M455TMY5&]M],)'1:CKT4>T_6QP
MR9D4;WJ7=@_F6:]://O]&<-EYOA`.ZUBVJNQ'&NIE1K(XXZ09J9TW7;2./.$
M<J('1"CS(*4OBHNQ4,7L&E9['+%AS>53*%K'HR2;$F*<C@<G*Q&2#]U&ZBF4
MU&I<.ZRWRKA/#X<HR+-,*CB#)RMMSCCE:OJ/_JO0[_61=5_YT_Y9,C^I)?YO
M3^;CGZ<<<<U?==P0;K_4MC7999!V+@=6PX[.)6\'C'QLEH&C[%5\Z2%A1:+@
MD8*NL)ZM!8I@@J\(D%VS-LGLJMKS!.M79:']FXK+CT<BMC5Y(*ZL(U5EE5G;
M<62B%B5].@PD!)?L60BV14^$7T+1"6Q.8`BT=D1X(5CLE%.D"/Q67K)G(OD(
M>W_;>%=<G</CQJM#5L2%_"+B[!+QX-H(RM&ZGZN"XO*+0L)MN72<(NI,`<3"
M'#(''6VC,A)I:<9,VQH"@U>EFNAZG]03KE-K<[!*P*HWFDI9"V>X:P(Z$BRD
ME[&9BEBN*,CP'+M@DV,LWSRP5&HFK6LX**,R\&,(3ANY`1Y$LB/L8,5Q7\UC
MDB`36O(4?"3U4<3GD9D$;`R('*2C%H&;MEY,Q(C5A\F<#D0`1FS?E&CE5-L#
M$8;;))#V.C?1)V3=)&BDFBTB)=:T=Z@C``9)X\73K3&8!$!DL:-XR+>"WJ&<
M!`(V=I,&086DBDR'S/5BP9M4)'EJAMI^Z(;T(OR`@*M<V)2T,<=@4M9-6,MK
M$U30J;2S[=E(J7D3,"?E@,F`RUC/S$-10EHPF!D\>LX>.+1^4"9(RT),D]1`
M*A].R1=.^RG6R(]CJ]*U%8(E@9[!3FO+`H0:69-+@8"0$9D;QE6T1$5+#<3D
M+&QL>B>X6M!8B3Y8*[,61B0JOGJTB"4S].(:'J@'(99TSP+15`SVG&)HA1B#
M)-]99$QH`GM>#U?<CQSJPC@60Y%R2,MF:<D,CRR+-TY=M%T4LL$=C^L4EDHJ
M4Q:===Y-"R]=3*]G5OAK5JI_LDC74@$TVXE.C1L^6,E`PS4M(X26LMN\R&A[
MX.M7A9XW(FVP[GE%'74Z,U;^'>L85UED$?EMM1F7,)</?4W!XS+K?E<]'U>K
M,,V(09)@GEK?;!5_'VSYR[5G!V3MLP-HYQ(2*;/'OSGO=TYKJ/V!))-V5I5%
MA5PG)N>-QMC10V5C8[\(&:HPN2$""KPBW\V=C-?;X4;ZX0F>-HXZV0*:[-\9
MR7[3=:H^Z/,S]_4X"7C`X07D&#-DP\4F(%GRPD"%(/G#\PW;HM"AP^`#,ELJ
MYT6*G@@[&</"XY%S\LNU'6LEJGN-OFHB*:T$VL]NLQL&+NT75>Z-!1#>9-%F
MY-1)W'DV!X$^4)-]U44V1P*[WSJW+#E'/Y0+M3UWM*RG]1UQ<,`G$_&US&+8
M=1^+2<0;<ZP*8&Y-'@)]/+!VOJN@Y*Q$ZW721RHN/PU1W(IM-7[#+F)W>393
ML19U&>GN,>JIQNZTSUR]J]F*N,.]>I%/%0")JO5\ZY3V:I=C+6/06H27_247
M#^K_`,,>H[&SIE[UO95AJW^&^#V00V:Y1RWV;92TRVRAG3*>R'N,XRG[CW><
MI81SC.F$O"?CV,>.8K#ZZ@%>BW02!0B(0D,]=+OG@J(1D'&1KIZZQG#EXY8`
MV#!HNZ7QG.%G*J.ZRN,_WS?;FJ6E0]4F@PK1C&L.OK8(5*MI&;J%I"ZT1%$C
M;1-F8:GBE?(#=&SLJW3;L":!5T&W>(:(M'J+A/1)!77W@F.O0Z3PP3'<4VPF
M,=&2&OJ^&!ON(VDH0,#9CB$JA<.9L/8+#!@@>D)>R"-@TT&K!FF.<DV**&C9
M3&9&JSKB1R0;,)#`84<EHABX&"9.8B@`I(A@YWHKHZ8#S;X<X*,F3G1=;1PT
M:NTFZVJRNJJ>^%-L;=N&P&#5T(R`@$-BD'!9<K/=@T/C@:,"LNW&<9<.LC@3
M$>R^)6SC&5E_<>]5SC&=]]LXYJ-4)U2KRQ"TX5#]?H3:SE8BN=F&[&M(U83E
M<X@W7*JEI!OHQDRJI=LFT5(J/'>5"2";=1WLX3U3VYMPA%(-+WT6E92.123$
MHVIL7A<C?APQI\"5(MT_:)Q@PY;.G`M1ZU]U[3T0Y;[.D/=^55$O9YT2E75H
M<(QHN:KV#ERL,>N",1)E(E'B!"+$';CXQR^CCUX.6=`WCAW_`-)7="E6BZSC
M^_**;J_IN:S=U)U4"RJ31M[6O7X1-NP[UU+)B#=0RM&$IO`E#,(O'LDDHM<8
MD7LU_%='Z#ER9+-SJX+1XDNLZ:?$Z;J9H\HVER"I%=_4=8/5RY0&;*K.Z_B+
ME4D8C*.6\<*OU%PRF[TD!0SE$*_=;*NQ26<ICUFVF<Z\]<75E9@YH=L@+7D&
M$6'*$M$9+.Q<2CX^92%%-%FV21.2AF.1.%DDFX]@@GH0?N-=4631+&/=M6^J
M>',>M/748.E@@;0M+CQ4\EN)].!K&JX&T83*=8WWW^^LK9(1]-M(Y;G=3?;[
MR&4GIG&V^^V'N-M]LY]<A1M.D9*5G"M75RG/C(!>,/I]B`PUQ,U@*X7:/9$K
MR!\"=OWHO0+M@7@214>"E!NN!CADL-V4:;]RH*C@-%5G#JAK"/#XK`H(%1`Q
ML`)9LAH\>Q357<J:-1XMJP%CTUGCITZ^"%,!XMINXV0&CV#%-NT1@M7J2W57
MOQ,Z@T42;4CWN'37L/6#3?V$V\0[5UZTCK?L7"1GNTM]\-+K@3F/WX+&[J(Z
M:S.'7R?URON>4T;V9\K8ZD,7%I]N>^?9HQX<("+`AG2NILN$,948USUICN))
M8CYFMXQHGO)^QMMVBP*:HYV^):U_&]7.^56":2%D_.,XQMC.-L8SC/UQG&,X
MS^[C/RX\8^6/&/&/&<8\8^6<?3./R>/Q?DX]G7Y?I=?ECQCY8^6,_7&/R8SS
MI$'&K`>^>ZLG+[+-FX<X8L$4UGSW+9'=;1HR144036=+YTPDU2462TW6WTUR
MHGC.=L1<HWNOUN[#]:7?;FNIXFK1X=E8S^3R22!2\4)PO-1DSHBQ6<TC!UFU
MD,7*Q1W&BF2(TL/;O?A4FKUNDLT?,5E]@==+_KCM-2-<]@ZF5,OZPMN-LYE`
MBI^//XT1.Q0GMON'/;`"NB9<:S+M]</AZ99JR>J,E47*K1#5;3&=V[;:9_2[
M:^<?3QE/;.OR\9Q\\Z^S\_\`JY\^-L_+7SGY<CY.>R]=5_V#HOK4?9RO-@=A
M(S;TKK]XRC^7$3PPI$=&2DU;FSZCM#`TKJSEH=00-19/7)#51=7.&R#?=7,@
M\Y3QX_2X^F,8\:9SC&//G'G.-<XTQC.//Z;QC&<>?Q<YUSKYVQKKXSG.<[?I
M,Z^<^?&<YSG&,9S\ORYSG'C/TSC.><Z:9QG&=-<XVSYVQG7'C;/Y<_+YY_/G
MG.<8SCQG&,XSCQG&<><9Q^3Q]/'&,8QYSC&,9SX\YQCZ^/ECS^7QCY8YSS7=
MNUC%;KJNR*>G3+)&%VI!9974L8ZYTQNZCDU!/XV923VWTWU36^SR2^R"OLYR
MDOJFKKXVTQG$;O3QLF76=U`J!]8KG9Y9\#:2NBK7?*+967*6IURG4FH6Q#JV
M-_[ZCF2RJN24F117UT6T;&4?;UQG/-OWMV5ICK:(C!2VYDB"=SN6"8'7<3%B
MS,ML*RYN;=(-F$1K6N8D/-3B?2#":VQ,D.BH$HH"CS,I)SV1D=$DRC7\>PO5
M^@.U\/'P+L/5<5M:)B3FDB%B90U<[X&F=!Y$(X=L'H]TP),\$P)<Q'#;9N]3
M9R"-&2\=-MR(,J_8.-UB`XF/B1@$",'A`84>R$APXEDV&BA(H:U29#AHT>S2
M1:,1[!F@@T9,VJ*3=JV12003323TTQZ/UY6Y*.@SB3=F][74L5-M4Y7LU6O<
MR3U]H#<YDY*^*GH!'KS%Q[*5IE46+.MW@<-")T;%.@Y`PK+(;J.9.VX*0/\`
M#/6=\^F,ZM*-1877UJ-*5?"I]*BJK6!1/6/1.)0PL/)`Z^3JR.19]'4XG/*(
M2?/IU54B<+O!C:VY?8\\)"?C9?G0=/;L_1;'LQUWNGK^1D;V(M+@K>6P#>4,
M!K$TN!WD@QPS;%=P17.!D@:,7.Z"Q"/$MTQY\?HZ#O%46SY11.O*,^G':$=M
M.%W:-EO5Z.2V10B5U;V-@46ZSJMZAE\=.SBM9T*LBNP):=$C(RYPQ6L!J"YF
MT"=DQLH'>1T%L(:#:NB.CS6;CTA)D5A,>@)F](@\:U%%,U734N<U<^>2LK5;
MONO1O<5XUN[?[WLD9M-&NE!12M&AX.Y#L7Y`U,[7+CEC<AVBK7NR;TDYP8>7
M\T1O&&NXCVK9=JX';\?-U<0>[1VMNRG9$_V-'DZQ<[3!9(9:5?OIM-HFX.DF
M^(Y-UEH)-7H,$3KYN'.=V8^DM+I;!9]"5+N@K76<4UZI]1X*N*@+$G(K/J9W
MW&;N<R?;16R$=B+^FTHVE$]$-UVJEB)K_;#I_$LHX&;Y84]-JWVUT2>](M=U
M6*GY[:/9`I-(1.Z0>3*N"E0=J*AZO5=/HFH#>SO55_-XJ_ZM1B41F2$U58K(
M0\IEE?2^&+#7J1Y+<W>/H?)>W6K!N&M@-!$$.I?<KJV\6/0)Q,';K3MU"JZA
M;F<:ZBI3#622T&1K_0GB/:-=6TE<EMVVI".H,4]G&D+,]*<S:\QM^2&[N"1X
M?<,LO\D5%QJK=]W`2+]AN@52]')*+$.RTT<L%9%'L4W';*`'"09X&<:EC,,+
MQ9VWT9G\?++TM#TE7B9*PIK1\4([4[VPI^T=.NU"8JY&7Y[*U/5=-(V("<EY
MA*G8J916,50-71TE?WV9)#B;.!@E@T5B3#8MYH_TP+)2C],.4Y[05>VU64PC
MI-_;?7^E))2QXDRA[.N8R/*JM0]A%6\T:S2"P5]$[-I.W]K!HTV")Q(0!C\>
M6K($=)6+=4J">=:*I?54M+&LQ&HVQ>T_CA)$`O'W;$#<MU3VY&T=,)K'CVA8
MK&74^>@5I`U4%-C34>S>X!#%U'">\D^..5J^H_\`JO0[_61=5_YT_P"63(_J
M27^;T_FXY^G''',7FT*B%D0^45_/XR"F<'FH`M%9=$I.+9FX[)8V=9+#3((X
M(()+LB8HHP<+LWS%TBH@Y;J[IJ:9UVY@5#]>Z7ZQU\UJVB*\CU:P9J5+G=@@
M!)UG+X\>=?%F#IDH2=$#1XV25U2U=F#A(B25;MF;/+G#-BS;H;EY`CN;TZDG
M90@$DD"LIG6<OTI#L=UF/%RD;7E+/:HNTHJ",9X3##VQ<*JWL"(E*VB4D@SU
MP^^Q5'C<@,D#5P/?:[ML<MCT]XM-8)+H/`I$WJS3>E(?5T%.QX$TTD>QR(@V
M4/0F-HR%G@>?L)WO6@,;3K'50F/?`ZQDUH!!)!!2=*[#9+]7*8+=?Z*@]2G)
M>M-B<8S)7*YCW#MF,8:2::2*8M(?%![]\2>BX!7K,^V@%=AG3YRX#P.,QT6J
MMG=IG&M9+[TH)FQ3)NH?9M*!Y?6G8['9'K?9;[K_`)=V$\?/^Q#OL<9JKLK(
MVLV9O;!K]P<)$(KN^KA>MY`:PWA=B2?)2:5^)U(;"->FU-3<Q*O7-G5VE`[3
M<=/)=;,1%5:Y`J1&P^F5VD;PAJO7MP+DB;""0Z9DG(Z,FA,@8'3$=W'E[!%F
M"DQF<@UVU!#_`$B[)KM.A#\5["PM6;]<:OZMQ&)X=5(58Q":2;K5<5]6&X?3
M00C/R#E&+V'%>PLOC*8D>L\,U_,Q,<LT0<..6.\8W[3GT>S&X26BF%RPL=B<
M1&KV!AK^"1VX$"Y5%/4<L'U%9JL`'I3AEJV@LEDMCE*MC</5SAS%P0H3)WQR
M0O?B`.?J9>D;84E+V&?%=C(O'"QN4]@;%@"R%/O22,<GEM>H#2GJ!P_$O:O+
M!U;3.'1294F+KB9@6B$:?6!%I&9,L2\,+(M6N\V;8ZH3VY.JBU('IU7L7GTA
MMJM[FE4EB%:*L*_;R*']CX=V-/"X]"FTA&&%49*9BBPAY)I!)W\D(%3I6<GE
M"91PH)VAW./28E\Z`R`*YO:&B%38GORCJ18U`4<;HF.ZO>&I>[XMV[06LE#+
M\96$CJ,37S]AATU=SH`5>FD",/(-6K#;]Y9Z4DGE32\@2T_H=%K8-VD+K@U@
MK===7%P`\SSM?`.VUGUS,9=I.F_V_#WDP@N(K'W4>UC)4C%'$.TL3$N>UF-W
MD>"SCJ;4+_M3V(Z['K%ZT&Y[V39SWLQ6<$NB@91K<RFEF,8W"K@C</NEA*(9
MI/8&'0@SMXX(4>4C?86F&AJ"IGY&*BP>).Y+.+J?TWGG7FPG%D2R[GELD)!U
MPK2CI-]ZA14O,';ZJKD["V?#)`O9Y22*%Y>JVC_8)Y!)`;FH$C.IT\AHJPI1
M*5Y-(9(FY\'I*EBV+T[Q=M7^KAXE,;R6ZMU(_<JH/&S:D>F^"%=$T`3A/&=4
M1Q[LZ9[(21QLVWVT(ZKB5%U%L,6>K>R3CE(GJ&8BO2+N!UC]5/:+:KP_(8_T
M=[@$`,8P9E&]57.^9'NO,[;;-6^'>7\+[(1R)U?E7"NZ[@#=ZS13=)B.TV1P
M(\\LKJQ=/2B$M8S3`VS>Q]4^I=V6NB3E:AC)F8`.S>E=5U91`C'Y0.*C7:<?
M8/)0UKB2CAKAD1G$-KZ(L"DG208Z:[:;J6_N[EJR+T,;&LWM8"'C.],;F-R2
M^%P&H8U"HL(4>=!&T]80IZN1DTC=SI)O,R$D,!%".P]LS+'FBOV"^7BL;79[
M[]/+U&+V[,6-T4C5FD:SRT[)=`.RO8*>#8U'=@SYM:]'=FZIJ$/M&MU9(3<,
M`1*,363Y/1UVD45U-`-'3(@P29DF2GF7-`[%EGJO]S6U,0?KW+)\[]*GJPJ/
M8WM'E2X)]*G5[]VQ<9^(T9L7>BC=VJT9C3:I=-1LH,;#&JN=F3=1/33_`&.[
MS]A*`%]S-^M$WIIA1?1WJGZ<]ZT=#6=:,9%')?#[1FMPU;.*P*2UK+M'"\*)
MB:F;9B\KB'V,4`XV'9".'H]F\VD/N6'W:[R1&V9/UT#W%5;D]'_5RH?I9K:9
MZBV:KQS378[I@%[)IYS$A<[&!$);7$I-O0D=,965Q)P;(&TD;3+_``6+%8ZZ
M]MKT(7QTRNBZHR"N"X^IC'U^*LR?K&.+P\9V::=3`U>AXY)8='$%Y+M&WUE8
MB38,7``B1\2,GC8ZD)U]T@@+9R2+=YN^#N/15_2A^M+X?6AZ;D,]2V/MP<!9
M:NQ^\6L.M$K7ZZQIL.(:HNAESU;89U+K-)9<NO+!%G5<>;RTK/`CXB/CFR9=
MZ@-U7`>I89UXL"!1*"=X0O9^PNH=JR]F#C['>&==J]J!"*(DMIK&)`.D+FU)
MA,K'M]>/O10*4;T?7*[$`^"$/M65LNI77=7NQ;]HIQ$1.NG<4E77NP.CT4OV
M.*S8SO45W1#L74$!G,]FU&DBM>N;>>H3T_.S0'J@?9.V4?*2*NWD8G(.2ZOR
MQH+?CCSX^?Y<_P`'G/C\6/GG'U_%Y^GG'SYSRN_U/`I(?UA<]@(N.7?SSIE8
M$"[@1/5FX4;O%1=*&/M&Y`+;*2R"CC$ZZ[$[A@#EGA7&'C>3[HYT6W]VGF>X
M@LT.BAAP&[:DPID>R*AR35;"K8@+(MDG8]ZV5\9]X@[:+(KHJ><^VFIKMY^?
M*QO11E1RQ?3*ZOVY*D7VDNO()/[ZERY/*:I%])KMMVP;,+OW3M-B-U?ZN5I)
MKLR?_`M\.QVK-;1/5/?3'+4N...=(F[08#B#YSHY4;LF3IVNFS9O"+M1%N@H
MLKHU'CT'3]^YWTTVU09,6SAXZ5SH@V0664T3V_G+H7JO=D,GHV*BJ[EP_HQV
MKI>C>V79T&5B\BB\M@':/K7$(;![3J3\%[Z-8FK]UVV<QRDS\L$,AC-V12JB
MW--47ZTXU^THA5S4-^I=5.@E#=AJY[U0FH"/IJQFH1.W7:F).]N^C^]4+G"#
MDWN9T6A!<Y04Z/1?6)XJ&_Y*@"K<`0BTJ;'IF+CAY\C(MURKKM>N;-L$UI%>
MVYHJ,];>@,QR6KN;V5>$.ETXZ\T#`>T!QH2#;L0*],2\XPMEG8;V/M&4%T)H
MK/(\Q"L&\2^%UD*ZLR8Z<Z@@^QU,=K2W62GNQGK9UDJ,#B>QR<RC-,6M8+=W
MT]C;%S$G3:VM:YE-=B6HZJR+A\I"VJPZ*@WA0<09@V2655U2?<)WOUTH_O0[
M[T_?]#K3T0*=?[DZY1UO.I'$+HK:5RIQ>$+M?L-K#I;$Z=LANDX@"]U36R2K
M."W=6R<L!:FIX]&-A"EH7I846ZAS3LE:-@QJ[!%KF^VW<V*`R%Q&KO3W=]='
M7:JR)U0:<1C-HF%!.\,7@AH*5B\@&"-RGV>_5%/RV%4W@Y&W3CCCGSOC.=-\
M8^N==L8_%\\XS^/\7*%J?[`W+`[Q[^].^J-1HV=?;+NS.;"7/3K$AC767K77
M][T]1]OLIW<\]9MTB$N/S*:S"?R6*T+3VQJRY8\W=+29]54*<*6.UL/ZW])H
MQ3DO)WK:LXD79;MK*A&P25]CK,8CFI<1'EU='3BMZ/@HO96)=?*:1>:Z*HUY
M7J:;J0JMVANT999<S37E;F;G''''''''''''''''''*U?4?_`%7H=_K(NJ_\
MZ?\`+)D?U)+_`#>G\W'/TXXXXXXXXXXXXXXXXXYHOL)UMIOM'`OP=W3#T)0&
M9EQ\HC!5H1*QJ;5[-@WO=H_8=7V!&7HF:UE8T;4765CT[@QT%)Q&RRZ;4EJV
M<NFZ]?AR_NPOIN@BV>WS^1]FNH,:$EGX+N;'8\U4N>HQH9DX?C@G<ZN(D/:L
M)#'\(M4A:7:RHP30-\4LV4NRJ:\9-R=J&9(^F?#"4%Z#=3!9[3=.4FJ0A-A3
M717??=7[^VR/_"M.]EM]]M\[KJ2^:FMU]_:SKLKMOG3])[/)L;E!NCKX'<@R
MT>><:_";NV^KGVLH[.,:_#Y4PMYRAINMC'L><I:;*X_2:YVQ],R#`AKONP>M
M'NJ?L>WLT<H.==/>Z843]K*"BF-?>)YU4T]K./;TSC;7SKG&>8W)FD#E*B,"
ME[>*2%4BBVDZ$.D.@<HJ]0B9X,39GT8^2]^JY1CDE3`/VY5-FHD(-Z"'&CAN
M_P`,MLXQ*(%25AS)A]\X=5\VG\-CQ9,7M)`,3D4PBT6GB2H<ZF/R3:O#@(!,
MT!ZHHQJWPT&R1!FHP?8?)MMD4^&-"T<,"UU&QM-U4/CM0&$)#4X%G7D0;!:P
M/-4';5J;KL6B'T8P@LV:OWS9N1C"`MV@W>NT4EM$W"NN_B0OK%UPKB3-IK7U
M!TS")@R>SDBRE,2K&%1V1,G]G$FIFQWC(T)"-"+-Q/B[%F5F:K5PCO)B+5!X
M9R\73UWY\2/KGUGL:3FYO+J*HV>3(RQ;@9%+9)6<"E$E*C1F%F[4*9/DPKXJ
M]'C]=W"#<6^=J-6F-UDTFZ?MJ8V_!SUJZP%DI`$=T+11)$Y%HA"Y4(<5A`':
M)F%0?">L"B<@'*`U$R,5A^&B6L/CY)!8-'OA]/L-FS]W\HX]HO3UK3L.:I0B
M$'U=6[&ONT]<]I+38(TN"D#N_#U7Q&60R+QZ;%6I^+8W2;BI@^UP?.L)B3:8
M&@VHU)DS8JHNI9AJ'I./*UVX"5'6HMW40TF'JM\Q@T9:OJW%&T]$38^"O4!>
MCJ)M#:22>AI`"JP3+XTUR2U<YQC.-.RSJH.CT$-17J01@/3\[+Y<!,3B85S2
M<&)O)!&D"1-S*@C<5A6.#AA\PU.&U8Y+M_M'6&R4BO)$X\<RZ*C"F9G^IO6R
M:5!7]"V+2%76E4=7M(BV@T%M&"1>PH['UH*)3"18LP%2H238MCHD=IN@W,MV
MR+_7#EYX6UT>.$U,A*==*`-V?#;L,4C4I6XZZ!;1B`VL1KF(/+&A4;WU<Z9C
M\4FK@.I(X^%QJ]>XT%BB+1DEAX\PBBGATX][N;Z?3CF.RZ,AYI%I'#Y"UU?`
M96#+QDVRWQKG1V(D`]R')-M\;8VUSHNR>KI;8VUSC.NV<9QG'RY_--UR]7P+
MU^Z]4/0TT"J.YC25,U?44L=KD!6R[J35M"`<-/.%MG#U!QLJL4"NE%-ET$5L
M[[;9523WSMIBRGT48J<KKTRNKU22I9]O+J."3^A9<@4UT2(L)-25NV#69=@Z
M:)OB6!^K9:-:X9,/C7&&@W9DCHILGKIGEJ7'T^O(US;MA4$'E/W+<.)I*I)B
M0O(DH-KBN)Q9*C24"XCM/30$FK"@9I`0_`P_<>=-_:JC)L,2/1E@Z<Z&)*$&
MOM<5QZA/6BV*M,W3!C%CDZR$TNR[#MY8\I&X`3"34P]R5SB<0O0["QSB8(-$
M`KYX1`Q]%]*QS++!V\`HH&0V[_TJS[\]7[9L:FZGBDZ+HSSL)0/Z*"E`DG@$
M^AVMD4AA41HI+XZ3D\<%BMGK=`^').X8^>LIVS"OM#CJ-(B$7+Q']K"[W]9Z
MUN"9T(;F$@+W!7E=0*TIE!8+6MCV&8`Q&T[!95;6^7.85%C;1:03:<D&(D%#
M63EU+5VB^DB<!6T8QN9UXJGO+0%T3I]7<&5LYS(1%G3.E#JIBC[=CL<CMMU_
M#DK`EE=R&7&H:RC`20CX@LB::IDBK<><34T9@7Q,EY9Z[$_1,5/GL62ZIIO9
M(K=@JK&%V/8YI!Y;]C:5D4.OXH,E"<XW$:0E?#Z5BB,;0$(G]S^"K)?546FT
MT^+SVNO?8RJNT5?KVA3Q`\9A;>9SRO\`8G((5+H,Z4EM92TO`I^+0#30,"-K
M:1F;1\_%GY!,?D8X+!2*3!V]0;^_VYW[#UGIV2:]4]G9C\+KJCW_`&#099`$
M=8[O6XR?#*W=.])1NGJ(7,(2DLS14`MU5B#5HJF_=IMD'#3+G!R7<2J6-I7;
M3+`-:TFL2@!_7<Q8,=A]33:3//L?L[+CT.K@Y&$A0Q=:7@&;Z+R0E/)``1>@
MX"`CYXS)B+-J$+_`RKQMC.?'SQGSG'SUSCYX_/G'CQG_`*N?IM^+SQ[6OSSY
M^6/QYQG&/'Y<9SCQG'Y\><<YQGSCSCS^_C.,_P`&<8S_`+N<\^=\YQIOG'UQ
MKMG'X_GC&?Q?CY_/#$X?:L5O/O+ZD'6V/EIG.8KW:G]87O3D63<J*]L^JM(U
M#1M9'8_'!#Q;9BZ[%=>IY#[#D-#%&66>TJ((6#2I-V@/LU`C&;WZIM2O;PK>
M$V[5$L$SFN+%C0J70R6A-U=AIV/FFNCM@^13<I(/&BFR>^4G@X@V:DQ;Y)T,
M)M&A%FZ;);!XXXXXXXXXXYQG.,9\9S\\_P#\,>?R><_+'GZY^6/GSR3Q\%%@
MY"024R*CP$2VW>%31PBS$B!K-+Q[UV0)$%VS)DV3]K'O'#I=)'3SCVM\9SCS
MR$/@Y*,;&HZ8%'A#SWN&A0*19%1SG*"VZ"V&[X>NX:+^Z73414]TMO[M73=/
M?V=]=M<?0LX&-X?Y#EAA7`LH]"$\C2#1_@>9&[ZID!+[+19;#0FQ4WTT>,''
MNG;7?;75=%/;;&,_6YD0F60!*%!VAMRR6)-Q&[YKJ47'MU=$%WR(_9;#Q5FB
MNHFBJZT0V;IJ[Z)[J:[[:ZYX0-!W)-\%;E1RY<8BV<$1:+YHJ28(/=<[,UGC
M#1;9VU1=:XSLV5<(IIKXQG*.V^,9SST^/./RXY#SL[33WL8^H=E#);$FKWKS
MVYI6Z9TR?OUG+M$;`!Q@T\C&&PA%^L.E!41+@Q02T-:#VZHYT@^573:NFBJT
MP-,>QIIIG./.NFN,_P#Z<8QG/[GRYT&A@2_>DQK$F/>$`JC9$NQ:OFKAX+6>
M(8=-$B35%7==@HY;;:KMTW::.ZZ.<*I:[IYQMS@6:$&TW*H<H.*I,GSD8\4&
MOFC_`$:D6>V-';!SNT66U0>M=\XU<-%LZ.$-LXU53TSGQST_./R_D_W_`"Q_
M#GY8YY8@V&D#/)$$6&F6&'9!AEZ)?M"33#X2^<"RC/+EDLNAAT.)-'3!^VRI
M[YF];+M'.B3A%5+3U..............,Y\8\Y_%^_G][&/GG/Y,8^>?Q<H3[
M]F3G?.`=Q(+$$-2G3[J!4E^;VCA5XHV"=M.W<%J^5DHY0C=TW<-F[^D>M\I;
MBI)=KQ1YD3,KW:16JG/Q(BKK;!D[?^M+,:.Z[T./#.LO1#&F:K9BWF76KW+L
M:U@,>08N<O-<YU=Y<-4TE<N=<YPOG?WN,YQOCE8%E#I&V]<>O3L`@%<RV6Z^
MEO9>7+B<2=]!=F;1'MO5K!%XRD(6M[().7R39ZZ&IM5!S%-(<]>::$,:*J-%
MXA]"[OE]7,(#U4KL-!J@F?;WU./6:2+6&R`IS&*017KW?5M2]2'1H.JQ@S67
M2$^TT'"(J\/-PB3*O81*G*$>1=LAK,7K+7O[+DK+K;U%+$JV-N+0IST:O5W/
MS6'099XE')X=ZF=W>NE=8)18P^4)FF%83\O!G\_C"CLA(5HU")6X=(O9"X;[
MO2GKRWL-:75[U(+"EQV=5',;`[6=?O2#I-"Y!=<*Q6L8`GV$[#=RPBL_E`=G
M+'CR8M`VD8>1NKW!N4!]R:TGJ^,2HRX:!WY,Q8::[1]IDK>`].V]G=?!]TLZ
M![==@EKQ0B1(W7$I2H>WX37]95@;A[F6`](K-4XU9,6E?9EH*DJV\4W0^%@*
MPX9)&QP!.SI?V*<=JNJW76_C,9U@$KNFAJHN.05TJ]R[>0]>R8DRD&&.NSC5
M`@X#;.5'GW>+O&;38R)2;O=4\*;+:)TM3FQGGIW^H->G9X-&ST@IGO'9T@ZV
M6'!P3?1(0GW;KBE:UF/3HLQ29L7ZPXKV5&EK$Z]2`BDP2:.YSI510V]WV<.E
MT\%ZGG[1ZLO.[44C]@PMS>=T>M!&ZCL.;'8H;F]@6=*IST)H6X)C'J)CCA<6
M!?&V4[6D3Z*,+6E,.J>JJ''3:4$R0[>-#A1'%4?5\[PSKK2*N&+*=>8<?&>C
M/=/J+GVCVJY=*F!NV^NUSM(5((>RVTN`:D*@%D`AS_1KH@J7+0EP14<M3LNU
M28KMYHV-ZC-]1KM_34&CKRK#]4S;MCU4ZT3.&B(G(G)6OAW9'J9)[WWUG%D'
MC,<RE>K62#1\CC<,KJ,3V$CJ*=1HO8Q./S"PA:`?!6/J3=X(Q4$L[.S6EX\[
MJRN^JO>.[;XB*-?2I!&HK>ZY6L^A5.U#$K@9RW$8L@%-HRA(#DVEX$=,L?"5
M<?E8O>(A9D##A\NF'</OQ64UI2,'Y'U;+PR^NYW5RH(')QS',PL7:H.P-.71
M*)&5DD;@L^;0L#N'FM7-#51S!H5.(6-7YEV%.@0!B.+2T]H^*>J?V]@C^MI%
M:;:I[2BZDP]6FB9E#X'6<DALLETN]-`-<<JC5GQ4LI/I6F$(W"UJ?,>-UCD$
M=%AG)M,B"D*CAK\$XV.<[V]](U6E;VZW+]5B]<]@+$],E&K"2K)W)YJSC7<^
M[XQ4]FX6BL%L)B*<5RT:2=C(*;LI^;^WW+H;)(9)(\9>ZLY@,P^N.Z?<*U^T
MO2FJI%:L*`MH]Z@OJC]9;?=Q*NG@:/W7'.I]92\A6\@,1US/'J\:7R!<*?'@
MFT@+@]9LB,F^VB^H1@`U_I`V\9QCSG_K:?PXWQXQ^/\`'XQG_P"G/\KOMJR:
MC^U79E@#"MS`1EV"N9H'+;V-&VVY06VL:2(CR.[;8'MLWV>M-$7.R&VVV4LJ
MY3SMG.OGG^@[U&>+55VX[Z=9"NN&K8O84.[JU/JLMC&[ZO.S0#:/6,R:(^?8
M45CG8^I;4(E=D<:Y0;V!'=W.F%G^BJ]E//A3S[/R^7C;3.<^?'Z7&^N=_.<_
M+Q[/M>?S>>51^EP\)1OH_*5K5T>_A:BG8WOGM>7Q#1R=E.+%<=M+N,%UW+04
MB3*D%#,<)Q8G&FPYLNJ0B)&+_93/9@L.0Y%KKE)'])>@_P!8:VL*K[N%V)*^
MGFG6%S#&E&VD5FT)M@I1T]%C@EDPYA%%IA!`[V6A6T.Q)3X-M'D93(XHT>OV
M[4\S(XU#8_72Z8W2?4TS7U92@CW8]-WH]T7N"L8ZWCLCPTE\UI4--XCV=ZN"
M)ZR#KQ,L=NVE#LPK1Q&!IYT03.FX')-V.B3$>^TWUU4JJQ(?ZI\PGECPF9)2
M*V_3ZCTKM":.8=*G4$:7I*^TL\LES3;6RMQ.\(*&J;J=]74'!!V!KX_[HPX2
M6U8Y=.2"^\C_`$PQ)H=)?4C7D$2F<93E7J6WG8T,7F4'ED/2E<$DM;TP%`S>
M(K2D*)3DD7,$(Q(V+"0`MGPURJ,>:)NMM,ZY4P:60B;R+UFI))A)RYZSB"'I
MOU_"-[,A]=#'D),S07V9L.>$8$M.K#JN=P!20BX<4'R90$(>LS^H\CA5?"Z>
MNJ*%?/6-M9T)J7IO"KMB78H7U'?]DO5S1[+JYK^W(',6EC6%VCGUD=-I_8P6
M"Q.*V,-KB=0.3SV0QV3QT,*K].R)36;M50:5;Q)NPU3]V?5!C(<+.DXK<4G[
MBA_0SOZ$QF?$XN^<R]]/7';R+2NKXD<E^S%:*I]L'O7,$WD;B-F"B\G<V>/=
MOR3`B[V<;.OWF@@M^$;NI:W3F&=S!<+L%EZ#Y"O)/B$=NQ,CD;6O.YEEZ=FH
M[L\F8AO+"XZ-4S(G12\H85V>!L-RDGD<K$KD%C)#.^H*'[%B.VD/L993MPX1
M;>N7V+B2K@Z6[$F:^2Z,3OII(DQ[IZ`..7\!VZ_JWPPA^L0F+T9M%@,K:CF$
M4/"VK5-LAISKQ-IJ:CQ-"<=J^T<,N01T4[%U!,!S>H>YJTTN_L-M:9*4#^UC
M&M)Q#(?6LLL&'U(TDLF#U55$UL&6GJ\G)4?5AH;%*<@\E0N]],<_9AOKL8:6
MK`VT,D47M^RHRS+1N06H;JNS@;1Z-?L;0I!C=F[BSH94DC6)/&,;K^3$32,,
M?A#@2,2&1Q!N`-OK$^:[MVSHI2E5V1<,Z>Y'0JJX+++%EK[7&NV[6.0H$_DA
ME5+3?;351;[/&KZH)>UC*J^R:6OG;?&,QM]/*M9;6?4"H6%C-MF=GSQI*[UM
M=BHCLBN+M3L;.I-?=B`U=MO[\KF,RNQ249076VV7V;A4,[[YVQ\HZF-]O3@O
M]>3I:I#.@G:BQ,+3K.^-40'4#M?9!U)JVG?OM?90CG7OM/+B38;-L*:)!:S[
M'%A\P64;1^Y98]C=K^,XVQC./IG_`'9Q\LXS^3.,^<9Q]<9QG&?GCG/'''''
M''''*X.S_3*_+S[E=)>QU>=T;1HVJ.LIR8E;8ZZQ)J]WB/89N?;M]&#"4JM9
M$+%*(:IHJ!"2<IC\N2:A72KN):1N1^V47R3U&ZW%V=U_#`GTWM*LS`FYZ9E\
M(LNL*VQ<F8!8<0F;4Y");8M3+BC8Z?U$*D#1HI9`0PQ3'M0*FY[8W%789K+`
ME1HN_.^<,J->,1>L-:.EF('V/GO7HGU\H>1E:-[A]J1?9(EADA((7.!<FE=)
M5OV(C!858(6#F#,.-[ISBV)V'LPH"@`20<]@=*>U%6V1<\%KLM:/7F&6UW<[
MU2X'9C/J=,[E:RFV-IKUZ<T[%W(=%D,;(0&T8H[M<I'Y.^=A(+9Q,04&)VO#
MRP9FZ(3+]2.!6`[N7JYV.I6"2R9WWT\A]S7A%HY%P9!1U9L-6DU'1Z[NN*1W
M5LI%M93=-$N;7;5@".E_87M&)Q`TU14T$N'B==4B>]I.OME][Y/`!5_1:[^P
MT\I24F;)A-(OI;'C5F@.BU\S':(H2(S6UFB74%AEC@ZNI.-*PP)+]CLFC<8J
M8@9AOW\+RD5NA;MGWY;^W:[MQV6>@<3\F`<U1$.HP\OMI71WTAP?8%66Q4(<
MKB/2,V?B'?)B0K*#;';'&1HH?)$*>EKXN_=#7HC!2O;_`+VLJ_ED55MZ:10W
MI8':@+5UH2&@),4-N`@WKMUSG/7NS)<NCUH8BI+2,3MBU)P!FI)K3D<+3C+:
M.QL`H0>160LS.Y95=?;4[9LY$5#8-OL*UG'8RUTP=TP#K?`7RTJHUAZ4-;6=
M45DCIHO1!:)REF][6-'\4B<T?M3VDD(;YJ%!<BV'QT*(]#K+V][063>W7L;=
M%O$*K9%%JA86;7A^F"L(`2J13'H]6$G-TLU*26HGNL>ND+VY.3A[*$$[!CR+
M&&M&%5M$&\X%N13O)[O@E]P3U!K"[#=989*29^W(]4W3N[5VT<(:1L;%I7`Y
M)(*3[/JN"6HV.REMU7M)0ZVL50.Y+&=H!8Q`!OK@B(",$HN]37W8BC6=/=;:
MN>VSU\IW>ZNTTAKPT;ZF3ZP'=QRA?U'[C++0NS7AA&,;0I">=6G4$FT:/2MS
M`ALG%61)[0#V`Y6KA<.S_23=A/4[0@LGF06<=EMI&.H7M7:P6+:=6H<\0(63
M17?9"`=>ZUU%8Z_(G%VUY=:2KLG*(RU7;3:<1D*)LJNR$%9M2K\MT(G->[W7
MD9;S&@,6TYKH;=WJ`R.XJY?=;-I%I0,8F/J7")74UN4F(91")3^U)#.>L=F6
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M/#DAD#\G(33UZ7(O7:V"^G1-FEA]#.G4M:ZX14(]:J7;%&>$]DOLR0@H`"CD
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MVU4Q%TPDM<A3J\G`P,QAX-<K/(A'9$O]MQR/;K8%QTF@S>!&P]=@PW;9:=Z?
M]2GT"K2MCE"T]K`*G5=#ZLC*T0`L!$)VD[=8*;&131)%KN.1FK0@[$2L8U6R
MC.&I%V/DK8VD^715R:-=<*KB=Z2SL*!BH(-8LMK.%U&3*`@@T$H\@\$(D"L>
M&F51:+=60[B71!1L"5+Y7TC(=/(>/HCVCPI]H9.-I"GA#PZ0'5C!FSV33YA:
ML@=:QD2HL8LX7E#[-L,ANNU5RXF[#5JTT9RK?_UXV29,DD'VB;)KJCK,UTIZ
MCR/0]H=ZVTJ5^]5JQV\Y/N]KN-+K2.YHGJJC'K5.K[L,KE;!%,EUA3:7/E%S
M>0JJ@)9XL&WV89ZHSHWTX#`/NL,ZOT2SC>:WD=-[@4:QB>HA6HI@?<RJ658L
M/R-RV6KF2R5VX.GH0LFI&BQ97+Y\,77UTWTX)=(.I!&;-;.WZ[T\WLX8[K0H
M%L9*NXHM,@9VF0[P!4<A%EWPIYNB<K8,]4$P\@JDNJ,$)-@OA80U;L4H2=4_
M2TA]0SV/VE,G'66<G1#>7?%V'376I2CYY=V\Z!'([*R5_$1-R3>N9QI-4SS^
M36*"B5>PZ)SBQ=&<O7$"D!K0!K-B!=%^F]6QB,0NNNL5'0J*0NQ6]N0^/QNM
MXR)%Q:TF+3<<+L*/-6K!/0/,@HK?<,`D+#W!,`$VV"A'#`5G+/F31GK!U@!E
M8W((C2-/BS,!F]A36*%P,+C39_$+%LG=1"UY6$>,6F%@DRL#=1="Q3+7=N:E
MN5G*,H7(>_7TWP^(=".E,`C1*&PGJI0,5B9>Q0EMD(T!JR(C`2]F1<@J7BDW
MP+:C$V:,CB!9=<K#R#=)%2)E%UR,<P+>+*K;YVTZK]:F3\84;4'3Z9,+;!N^
M`Q'-=Q51\(NZ3-5V4EM\6Z6&*+C[-D31RNW/SEHHC)3**NVA(DYQX\;P?NVH
M]DZ?O5TFK)BBH]=N5MO81;M6FN7+E=7;Z:II()**;[9^6-=<YS].?Q85YZ-\
MM[20"#=F\1-BECL7#XS>^$LYD2&4_P`+H5E8'N\H_>]#W.=/O#[.4O<(^[\>
MQ[I/Q[&O]'7?,89IHQ4/?R$BRI0EU9<2(/?<?C[59X7G73*S%`^EZ-FHMFEA
MT=.4V3CL+[&Q9AA;9XX3J^5Q@*@J\FJR#BPJ/GPDJ!!I/&BXR01V1"AQT">"
MOFQ,,;"EV:!$47$D6:J[1^,)CW+=\/>M5E6[MHX1714W34UVSZ_,9'0Z.B)'
M(96+')L#<LU&_>1PT5701-N1#70>.)D62:NK%R9;C$FHC[9W;?:BPA@,%.7:
MS`4-;M,ESKC./&?/U\_7/_'SY\?EQ],_CX\8_P#IX^?CQ]/'CZ?[N=5^\2',
MGA!=-VJBQ:N':J3%F\)/5$FR6ZVZ;,:/1<OG[K?73.K=DQ;.'CM;.B#5!9=3
M1/;3=$=BZA[+U&%O6D9*_F]625(JO&Y1I$9K'_O`W#/78Q^X#!);'@,C(-M2
M3!Z/;.&X?9$@\:KH#U'6^G/N@.P]1]H:X96[2$E?3"NR1F2`!LF=1*:0]N2*
MP\^1BDG08,)S'HT6=I!9,'+`'KQ`?NQU+BR+!)RJX9N-4]1F^^G6`%]\WSJ;
MGG\.KR6*P&;VG&ZUM"64_&9XTD"$3*0TG;,6B!>!Z2`!*5](M*FC<\X0B4JQ
MM%I0Z#R+107K)F(3F*SM`VM&"B)#>,20K#I*QSHLV(QZ3A<H;$`9L8Z31>#7
M^K5XP*-4W2">A(&4#GAJCP*7&/W678UQC\O[^VV<_P`.<^?_`#C\F.>:9"B9
M$(*`#PYF8"&QK\.8$DD-'8\F+*-%F)$>^:K8W1<LWK-PNU=-U==DUD%5$]]<
MZ[9QF-]'=.Z0Z\Y"Z5RVLI9A$P^8[`PEAWE=EOQ^MH[AFD,2!5J!MBP)F*@0
MQL(11`LD(PT'*,(XBC&F2R$?2T&XE%C&,8\8_P!^<YSG]W.?.<_OYYSRL+N`
M\1[37M5/I_`--BT.T<Q'LGW6=MM=%AP.A81*-RE24V97]C'PYGLY<L48LE!2
M3K1P_I6L;DR[32;DQ>[RSS7'C'C]W.<_ESG.<YSX\Y\><YSGQY^7TYB%A5_"
M[6@LPK.QHR(F<!G\9-PV:1*0-$WX.31>2#G`@Z"+LE<93=#B@UVX9ND=O&=D
ME=LZ;:*:Z;ZU]=3I[->N-JJ>GQ?LD*2783'B4GZ2W=+WV[H[V`Z_QC5HD5K.
M9G':NV3_`&/ZSMGHL!.G2NV#%K52O"[KU3?&][6UC=FO'''''''''*XNS_J&
MH=:NX_2;J)MUPO6SU^Y!V7!D[9@(!-]7]5:QA%OG9Y*7&R:F[Y-I[_)N6IIN
M17W3A"#B6;*%\)X$[;)[[7U:/6'KV][`5T+B9:/U?-:YD=[-Y/'Y-(WHCK<K
M,@XF\9Q$6$9D,=5VE5700D3LQ%$FX>"GX>)&ARK'9RY:+HZDF?>=K7EK%%IE
M)P0ZC=YI;D9@FP*H9G+958"/73K+*KKO79"<CK#2CH[4*9"OVD4=Z0E^M(W5
M=3J#I"EGI(1,F&,N/5KH8=(QJ$CKN^8?`GM!ANQF;'E=;.Q8W6NY;;L4I^$%
MD8Z@1?2M9A*"\K8FD5U!**S,&JT<NAV%,DDQ.U[Y[J#@G3ONWV%HG8>8F73\
M+V''EPEA1B1)@LV9UV`.C\DBY-B/+Q\B4#$DT&[9D?CQS#95N3;DV*KW+=1B
MIIG'J%#Z^72-W#9L9?0UH-[#3%?,0ZM7I!Y"1C'6F@0-LVN#4&6!83QX".1C
M!M&21LVV'R-C:@#=Q&``(*1#J2LIGLD]4[K-$J]LNR9`+NH;'J<E>\?L_#JI
M)$BYA('\$4;OEK81U1==,6VAABHY8%ET;_\`6F\OE:BKV*1F'EYR**1AIIZ\
MNU/II699KQOV)KM0N?H-SV6C0NRY[3IY88/-T,I`WEW5A%92R37-G'1UC(H.
M9'0I%DYC]JYP.8B&YZ2L40R<BG'=N#B)1'P3N-6Q"4Q]2]BIJ:ITQUUFCNQ"
M>E!6!2M<D<PXE&Y`ZCZ[`,0M8!JT:QD).8Q.`4L9RH9/(H!KV6Y=1GZ]65UR
MMKO5$)Y2M'U:)871UY[*7)++$<010%<*=]=>.Q\!ZJ3]N8("Y,_A#]VFH0D\
M5,RL6&+EY!F,CWP6QCT.(-4W6WH;VRNZ553W(F2B=7-#U"=MIS0E>Z:1"5*B
M7<2A,JKT)]IS%GO8:;LK)"K28/\`.78,G&A+!RU8KX$NDL.FJW3L#U0J'&16
MYMA)&PX:7K2NNPDR:SB84+,Y'#'..L%[,>MMYNQ8!G)H:2FGX*;2-QE.3QY&
M1158B`D8\P!-NFK<RJ(R".^IO2IBP9!61"(6@%E[3L_;W6"'AW`$8L^L,_1S
M2&N+$E<21R>;:&`@G$R9$FP$.J6GY6*H/96*A[T6$EN8S9%C77/G/C/SSGZ^
M?EXS^+SG]+YSCSC.OCS\MOR9YSC&,?3S\L>/KG/\/G/SS^7.?GG\>><\<<<<
M<<<<<<<BWVZ[-BNK=5IRI&,$;)M"<2435M`TO'WC9C)[LN^7IO-85785ZZQN
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M9?KK`U$GND:C?J+TQ8Y&NQ=2L%FR>K0`#[/5>]A4RUUVV3;L2M+625;([9=N
M<<P+H]=]E=9P,QZW0/9W8M[]B/5:]2"KDK@FPT+(GYP[1<<+V&2+&!D@L*KF
M<C-R5R"7^[\><6`(1"1!&1)!M'"H4>R4V=;/J<^H#4D,[*&9M`^I\>FW53T]
M*-[N3N%Q[:=V8`E4E>W-V'K*X*I!6,%L,6.8BI0+H94O!Y:B%./JL,G]HY*`
M=F+A'[];5O=+L%?ENV$/HF;MZ4=6;U2]9#TJF].V('A,Q$1G09V$BXBS&#27
M15_/#YTF2@GWB-14P<C<NB>EBA46JNP:"+NGFB&_X%ZDW=BR"9GJW'('2K[N
M)"Y1WXB.TZ%@W3&@;4(],YI1T3CA.,Q*<7C%Y)&0DQVON-;6J,9V7/I/6"\8
ME3<&VE6VN5!.<1?O1Z@4ZE'<E*/5UUM>9ZI03KJ91IV)9D$SF]D3?L5U@B=K
M)PF#7$7M:#5<;=06P9(LQBA18&+$WL-2$1)BO5I$XA,L3&I[N4ZL?HI:W9AA
M+ZV<R^KH[V#4-*6S$++ZPQRO9C3F91OO$.R4)FJ$NL.DS$&P+',KIPDWDR`[
M"!640A,S'",?U7K?$^JMVNW.%:]VCM0OCPGOIZ>'6QO,Y)55E0+4W4O>6I(O
M.GLGS6#RT7DCB\KAYPN06C>DG,L'I>(K!VDL@\2DZ3URKL^H^^O8/LBK`>JY
MUC0H2XIP3]4>,6)81>`2\K44QBO03L8/ZR8$Q2H'M@[&$3%N*3V-2B4!3%FR
M!G$XD#EFC/<XX.B=@GE=..S*_4'_`-']Z07BU!C39(/UKZ;P`.V./'8Z,BY!
M=4XK6D0,EE3MHFH]2AD.,V"SE,HT;*-7KN/!7S)J_8.W23YMBM^=X>XHGLA#
M>I[675_&))77J6=+:>E=L1NNC^L;N.D>R=!VE=(B/O(JI:*CZ&2>+2>LR<?L
M<*RE!!&61-U#S`YU%VL@)#EXX=6NZ5D](&3T"QA]>RCKM..Y/K^%WL(!1Z0B
M;1#%>JUDWQV'!*Q:3(R1>(;!)&TA\D@ND+S7VKECDB"/-I8YV;.@69;RSO\`
M]_8I7$`L_$'ZTK0:]I[Z<XVG9,8W>N"B@?N=<44J6>,2,*KZZ)@[(1>+8FH.
M65C;RYL%B1,TR47/5U@RBB7UO)KEK8;*"Q1G;!J'2.R6P1BA-C]?QHS#H48D
M:2?L$R,8BLAE,V-QX,[6QE9D(*2Z2/&">WN%C+_.F%]HD^I1/I'".F=QBX&X
M]Q:-QCP'6RH<I+^Z?)VIV7E`:BX02'Z87;J++QHI/,2YQJDIC*`Z.OGBGA!J
MKMK+&N8,!JJO8'5\/8;LXE6\,B\"BS397&^S6.0\&QCP1MMO[./:V0&#FJ6=
MO&/:SKG/C'GF;+(IKI*(K::*I*Z;)J)J:XW343WUSKOHIIMC.NZ>^N<Z[Z;8
MSIOIG.F^,ZYSC-3M2EWWIT7(`ZK3/!+;I5=,KP/Z866]UV=">OUB2=ZY<J])
M+`,8SML&A98HHN0Z?2HWE(8JS?N^M+I\T/1FI6TXMEQG&<><?3_SC.,XS\\9
MQGY9QGYXS\L_/G/''.D2?-!8]Z3?KZ-6`YJN_?.5/:SHW9LT]G+E??&F-M\Z
MHH)[J;8UUVVSC7.-=<Y\8S1QZ0M\Q2K?3UZ2TE*0M@L+@7&KQ`O7I2MK!`'X
MCOO84[/G3LXVD47&,(9'8U#FSV6$"\G>"FCL>DQ9"57Q8Z!9$?,]*^[04"]/
M^E*.(M;&CUXRNS^P\/#0UU5EF#)1'7UD]IKQ/QZ8GVY2)L48Y$PT+-M+)=2,
MXZ'#%8TW;[#G+PB5"L2&5>EG+(72O0NENCEW00S'>Q]%0YW1MQ4"3C!LP>G$
MW:&3^YR?Q5T[&:`+$K6YU7*]G#K5%EWD'4'2=XI*#X8N)D#$;(&DM2V/5;[Y
M[1G9?:N=^KW1+:<YPIC<7GL!]O=HM7.6GC.=-9#FCM:HS),:8U=[`\P/=_C+
M3<+MFSSCCCD2.W?:H1UHA\?8`HZYM+L)<)EQ`.M'7\"[U0E5RV=NRR[PR]_A
M-Q]UJWA;#;,ON:TR;?[M5;7K`G(BZRCW<*)+NGW6LEU[@D@)6+*T+0[&W1*5
M;4[)W!JT5:)SNSB0UB*T&Q=DZV4=1VIJSC8T/6E,0S953[KUU&@Z1!8A)7\C
M-%9;\<C+VOZT`NT-7:1!>0E*_L"'R0/9M'W#'&R#F6TK=,0PZ5A-DQM!QLF@
M0^S]WCX+*XN\5T#SZ`')97\BT<1^3DD-\2Z<=ECM[1:70JVXT*K?M)09]I77
M9&K!;UP[$A98L.U)QRPH`X?XT(FJ4N>.>ZGU1R5?3=54*Z)1`XHA.(1,10R8
M_''''''''./&,YQGY_+\^<8_?QC/C/[^,\QV8AHQ(XE)X_-68HC#CL>-AI6/
M.:-E`KZ-%!CI@>9F$WG_`$3<6Z$N'B!'5U_T;+-1;"_A+V\\K:@_4+I3<U/5
M%1543&4NX'T?#S:B`XZ+RM;0R`>6IUK6KZ1LI^_D<<>$34L-4K<NTF2++ZHK
M*O9LUE_MKO5&6Z'ZW'TEZ:R5Q6="6)-9F%FE@]3I!U+KMDUG.!DQEE34^4@=
MF(F!N$P"XA>;5$>`1:7C9-D<U3W5=KM9&*DP<@N+QF41ZP]:)C5?=SJ.&LR;
MS)*VI_/,=KME92+S/@TU[#US%34Q'ZO641&!8CF900D'D#(<"!ZL!#.1;.8_
MH*T49(,?,ONG.I/:>3B*NGUH2LC-*J9VKU1+"(H;U8&&YGL]UEW4F`*8Y;0U
M\Q9R20T*DI)@1C7`<8*P]0?,-]"KL:RVQ^QO2:ZY6?F?Y.S.\F>+/C!Z'S1,
M/.8\W:E0,FZT1?J@5128OH*18"R>]5PR.I,)*+;,Y,*-M2CD489"Y9,0I_\`
M:?>E9U2GP^3#[()V?)1LXD_8Z5R-L2GR`W8S(NS\'CD1LEZ@[`Q\038OFS*$
M`Y%"E03MB\B<G$ZFQ:JFVF4->N/Z4]=.U]75Y92'8.\KF%R>F9=%HW>&E@QI
M4U/(?:LYI>R'DJ=X95T*A[Y1<SU[JE!F';0L;`2$?CY,%((0;'S.;IR+>5(]
M%ZEH:QAMGQ62648DHH3V+"-M)9)`Q,7AAVBOU+LM:B6S!A%A&-=G-IH)$0.R
M*R.08G3(9#59FHM[SJD.E5/A)7:$Z0F5DQ>!69;`/L;;]0#CX'%332TH<.C.
MRLS,M7D1(3L<T,XK^&EII#XO.0D&F1&,)NY!&"&QJ5I2&,!3I3THM2G8E(\6
MU:,AJOL?%K\A\-E`*6MG3.=1[U(+FB79*PE1A!C7J[ANC/+!C,>.1<TY18H1
M41[8QNZ:,'BF-MZS/TV^O\[Q*6)DQ9.(I.[R>]B9C!L2(`0BIVTB9*LSZ\E9
MMI!$#)6&FF\IJP')X_**]+Q*;PPL6EJ,)E,=$21\)Q**K>P5-W0@)=59/!$V
M8GHEK/`Y$(D36&$HLM*3L-P6:$UQZ`]9/$GCAL2HUU<_'HK,%%%6FC51NNKN
M7VM?RX_?SX_'XS]?R9SC&<?BSG'GZ\U[9EL5S3D2*SNSY@$A41!Y#X+'3CKX
M=FQ^\$A%Q,-E?W>BR^-2$C-"@S??5';3+Y^V1WVTRIYQDDCE,?B0W!F2%6@8
M3\>.&*$WV^R+!N\+$$!(_1V[SKENR3<DG39EJY>*(-=7+A%)5=/973VO?QG&
M?GC_`,__`&SC\>/KC/'''''''',3GDZA]80F6V/8,D$0^"0.-FYA,I9('B0X
M'&HO&QS@N>/&'Z^VJ+,8)&-'+YZX4VQJD@COMCSM[.N:].I]?3'L;;&_J&WW
M'"\;7,Q<I$.E%)3!BHU-=?NO<H5:.2UCR\$ZQ[(+L7V<;C@<EGS=1'0S5M7-
M8126=VIAG9ZLDLWXY6EV(61ZR]RZ*[8[:[L:PO@0$Z4]CR&BJB0P(=,RYS(>
MGEF2!/1+1J@/"VA))_1KXPZ7RHBX[`Q++CP-%;K-++,9QMC&?R^,^,_+.,X_
M%G'XLXS\LX_%GY9YIV/]?:8C&6FPBN(NGN.LX[=(M1XPV+JB+:D[&0#)%8X=
M4RL15$3,X/E<G9E9`,W:$7S:0&4G"^^A%UA72\H]/KIA+ZZE%427KO7A.`S.
MV-[XD`'8:11PZNY9PHZ=7`V)L2*!L/9S]99QDE/`I,;)B6CET@0)ND'3A)3W
MC72'J.='R<08Z_5D["S*H8Q0<K#[1Q-$(>I"$+N'<3J8J+;*(#'%>1UT\(.Q
M42W;8"LW),NY3:86*DE'7:D72OJU*]ITXD%*0LD1LD]6<LFAQ5N12D9F84NV
M8LZBFF9,V)(2`?,ZP9C6#.`2\23'R6(M&B#8$49(:83YY%B]"^G5LP6`5O8G
M7>L93#:NDYB9P$2_`82WC4HDZQ!Q,C3$JQ<-#2CV?K%RZED;O23K2R-BQ3,[
M3D7V@[]]DI/J!UF)YM[9[34+VVOP9$0UP[MA[QHI8`ZOV+$9`&TAV'O&^RV(
M(+&#A<+50RU6B@QBS'`%1[)NBAKF`GK]2XJK9=3#>NHX[K*PFTV:V'$S;1>0
ML[!ULK5_I83B?N)$N4*S8C-]";_65E)4^+$S^KI3!-VYUSKC72<3]._I5!TV
MND6ZZ5V)V9RBH)PBY39$W+[[[T$&W`4U-5B+TJY?N9C7(C?+*+RETY6/#T]$
M=_M!19!!5/TC?0?I[(1@(43H&`;-8S:$WN<`JQ9D1)`39EG9?;6?*F1<038E
MT7=G;DG^UE,\/\B;`V=KYF`XUMOYQLX1UNZ_@J&2ZP"Z=KYKUW2ASRO-:7^Z
M0]>N<PD@FNF^BZL4<MEQJP5WJZ<97:+(;I***[JYSE7/MXQ'3IKU;V@XZO"-
M)0611098T:MUJREXQQ,R.UIPYNP8Q2PWL@EKHU)R,SC8H6,!A9&4,.RHN.#V
M,=:N40+1`=I^D>Z;]7HN:BDBCM)0(2;@LXLZRHB39BE='<>GUU(.6UOR\6IN
MZW^'.VDW>D$)^1QKLI,$2)%,[E]H0>X7U_$/3?Z-0&$E*YAO6*J(Y!R]@QBT
MG<8%@5FPA.;P8HY.P$P.;:O<_8R5?'7CPY7P8/NP`00R\=E8B)"D'3ARI-G7
M7&FN-<>?&N,8QG;;;;/C&/'G;;;.=ML_+SG;;.=ML^<[9SG.<\K.EKC7M#ZA
ML#@8Y7!*I/3Z#+6[9BFONEQ1#MS<L1>QFCX0LDNA[M<M4-%GK$M>0M<**;AB
M5MTL7TPF]]SLA9EC&,8QC&/&,8QC&,?3&,?+&/WN<\UY;%45U>=;36H;:B0>
M=5Q8<>(Q68Q,Z@HL--!"B/NG3579!5N\:+Z9PFZ8$ASIF5$D6[,J)?,2;)F\
M0K7&6_<'IQ/-(9VOD\PNKI3ILDUKCNF38OI-8/7X;A;=!A7_`'?W#-71$K"@
M;+#1K'>Z.@[`I8<ENW[/)Q:0,-[?L*U<*;#R0.*D$>*CC@(Z-8F0IH.^:DQ)
M@03;)O!I4428JKLB(T@S61=L7[)==H\;*IKMUE$M]=\^IQQ_Y_)_PY\8TUQ^
M/;]_??/^[.V<?N9_%GYX^?.<::XSY\[?+\N^^<?P9VSC/[^.<>QKY\_/]SVM
MO9_^#S[/S_'\OGGY_7Y\Q6(0>-0=L70CH_5JM(3KZ42,BLJJ\+2*1DDVS=V;
M.DW6ZKPF0RQ8CA395RKMH/""Q(,:FS#BAS%MEO'&<XQC.<YQC&,><YS\L8QC
MZYSG\6,<@]V5[K@J@E+&B*=A9+LGW`E@74S"NN<')Z#UQ`-TO\$ULJ^I_LP+
M1_KU235W[S+RQ)TADA(\LWP&IXE9<YPTB;EU=ZEF*VETI[(=AIHPNWN/:0%G
M')I9C,.N#@M85^V=IE6/7_K;#R+LF^KFD@QC34P4R_)DI[;4M3TGEJGRY-M&
MP\3G#QQQRO?N11]BCY5#^ZW5\"D<[/T3'GT>,5QJ_0",^UW7AV1R>FG6L^6<
M*)CV$J2?_$3SKK,3.-FD`N-OH/?.V,`LBS$"4KJ)NVO.QM206[*K,*&X+8(7
M4N&<NF:XPLQ60=.19N.R0(\U3(1R81&0,"L4FD5*HMS,5E@4S'3#5L2&.D=-
MM<<<<<<<<<@OZD\:F\MZ674&@+$R6)_#P,O(0<>W<_;4EK"-6G!9+<T4&(,\
MX>/WDJI\1.H\B,9_]+*Y)9&-LX6>:9Y6=:M"=WG%S=BKEZJL[+CA^WNU=ER>
MOYD+M^.,:=E%)R?TG(]4%?3\]#])L8BI=!/N#`ZV4CL@-U_()U&&X9A+!XO6
MOECB)7$Y-UT[Q%`%5V)1$2[.L+3"Q/O<9B*G:FQZ=,2JDK5L7J="Z[KL4U=!
M9&:&L(Q)+=CIAQ'G.']B@TIN_+6$_:Q>LC0L'R0-24IVEB5:^JE*NOM>VK4E
MD7\/KR=]3MNPEA#I9._OP/Z9UA7CX4:/2:?6@]`G8S9D2,`T-Y:_=PMB:49F
M0NY:(;**::;A="=JHW;T_L"IZD[80&NK7[/`+0),I=>""\_=5BIZ1\RHUP"L
M%R4O0W)BKJ*]NT*S3&!GA8RQ`242WG\(63CH?)MKZ%,==>\\=D?6\7/3?<IJ
M3VH+J],-92UO^-SB%13M5%0$@9]M0'9MS/I9.9(YA]@E](B0;BZ^8S2NI;&T
M34=K5I6DNW2DKON5'U_[5RC7HG/;2K'MB-GM,]@JRD?;4-,>SJ!D%()^!ZL]
MCJQLVWZICXBVM`QJI91;LNK25.V2!)HW-@'J0R,TY'6HB<B3?F=)ZT["0$ST
MSZR/I^]CSJ/]9J@>]O:3'73HO..LDGZUS1_)X$Z9QN`S(V"&1[N"A.&$(G+3
MXP:*FL2K38HQ1D.JDJ0:[-[A0GO7(NT\C/4K#>Q+.%CQ,EAC$Q"KH'L(3,8E
M-.BO9H2*-!P*]HP<37Q:+]N"=--W3;,*-3Y`\"!6BTLT/$548JST_"J9]06-
MR0#'+*"=HIAUYE1?KXYN$0POYP5LQ:5R+I`^A5B&HQ)6MM-YP%@$.[8,`IRU
M(I#)/&A+LN\83B"AY)"&\Q1(R>KVGNUU==#_`$F*NCL7LF)V+1<EZ8`.RL3C
M4\`C20NM*WK,E$[C'S%^"FJ8.?Q;+E)AL]C0TM*%C[K8609@W9`?G=A#2H:=
M]36OG'7+>Q1':R65N8J?J4EW4!;]ADI58I2P8O+NR\=LI2NC.;:?&P+X0E(N
MLTRM+>J#<:1LFLX@8;#"DGF[0^",XW2_5CU":VI*O:@;Q'LQ$HR"J[IC$W0>
M'=@`X5Z/=Q#U.+2L3LL\2*!+C:N-)7*>E\E&ZRN5I.=CL_9N1T7<$R<S#(C!
MNY2])=_(PQ[&_<E/M^=G<'E9H%'`Y"_H)O5%X=4-NR]?2B+1BFI5(SSVQ&G8
M5'J?'Y%5X65SP]7TMBUA$)P_G5E3!U,HC,DL'[!=-NR<]9W5):WJ#L<:"69U
M`K""UA$[:OT5,)-'))&^_$MN0E"YH#F%K:A!A=C3\DBN8BJ^^\S@+%8@E$SL
M^?S9BO@Q)`0C*9T/]0E(Q:A7L#UC@<>[-Q"I2,4M,[.W%IROLZ';2";]?9$+
M9''80Q)^LLJ'.J3J0(DJ8(B1=EL8CHSC\FCI9NZM6ZRQ^Q8EUQH&*V^_6*VS
M&J4JF/V@5</M22Y.Q`L!CPV;$%2.F<Z/E7DF:E'"KS3]*Z44V<:_)3SG>'''
M''''.,YQC'G/_P!_X,8^><Y_%C'SSGY8Y5-)<9]1;L,]KQ#7XWHMU*LE#2V5
ME=O>`NV/;&O"[<F-J%%'3.S>045U;D[$?(+;][NL'L+L,/C]8KZN!%/V<%.V
MLXQC7'C'_P#'.?GG.?SYSG.<Y_'G.<\YXYJZ[:=@?8*H[&I*SQ'VY`;1AYV$
MRD?IOH@\V%'F*K-5V)?;:**"CPM7=$K'C3;&CT(=8CB[%5%XR05TBITGO2<D
MUI[U+[&EVSKM7UAU!"I0<W2R.SV!IHWHY;4]VLC8[?=1/4?:(\4_"V0-'*KL
MH->L7L6&Z;8%MXX[)S\Y7/ZJ/6:6]GNFMD@*I0PI?5:["+OH+3"[YLD;M*I"
MC2;B*Z,Y8/A^SR(W$Q#$:EF0MZLH->`)DZ5<ME%6;7=*LB^NSU9]JNE7:'U/
MX55D)M.J*=Z$&(G7=:V:]D*<<E4@L*+A+)[10&?-(>]$.E%H"$7B5&^RT7T)
M1B>#+EC21`3J[-)J;/[3]ZN[88)ZN(^EFG7>`Q+T\:#(34++386QI-8DA<RS
MIB[OF(K!1;>0AX<,+162Z(,%U2>A42[9+-U?LW=84N@=]6PO4QORAHAV+&2&
M+UG8,CZTT=Z8%FZGOA9C'TYWMW;N264Y.!A5EF2&51A&()11.1`S31TND8?O
M7#<H!:-]D\H[C]8UJF[KSI1[4>>2G9WZF?2B./(V->MAKR4QR3V8["RB'+.G
MQ,,,7#2H3ML/-B#I-O'C#771J8U40UT]F//62:=QNM\XLGIBQ2KX79%BM^Y7
M?+KY7MQS64VM%J.ZMQ><577%2=66TM!R$"^=ECEC2L_-#9H:=DD.Z]0Z0C85
M&1EAL&XE$7M2I/5)GEX2SJEA*$`^OL'[?T35%A4F:MF"V--XQ85DV?1\ZLHK
M5`BXX07!P.+6K6\C!@4D:8L<3$SEVUMDK.:PF>KIVS"#,P].3O'(+"Z>=$'O
M9I:R;"O#M93,!L)24UWUCO>35@GK86^^B36PK*B41F55P)R@ZR\T(J3"5Q`:
MT![#WFXUD)V2?O*I@4>&;=,?3R?;1$A,WTJ]?7L%#Y.";DTTRLYA(WLWWOA[
M.!DGDC-BA9"),XC`(4)1B,@+-HEN(AP(7LTT28LD]-W535'8N$]E^BO2_MI)
M2"77>X[+]2SM!#Z#?S@K9D?;1N`F*S*=3^F\\L9PMJZL\#3$'G=BV^K"##PS
M"WZX,%&6J4FBM2#'69\]7GY2JO5&[I=6:PT<;=9F'6GJYV+UB#'XC:&4/?EH
M36ZX5+(7"F.N=A\.$6M!Z]C%G.X,+^"`M#C(M*`@9@\E$C=D[?.1/[B=E<]:
MJK1)Q>.)6+>5ER(=5'6ZG-'F&;VV[NEB+K$6C2KG&<JBH>#;-"4[M:6X35;0
M.J(K,YD]TV1#ZI+=_J!UUWZSTN-A1V3YL&T90?DEI7O::K%`:YM2\[');R*R
MIS]GM]-=!09V96U"PF/8V6TB->@XC$&ZZK4"AOF4/''/Q<-T'2*K=RBFN@NG
MNBLBMIJHDJDKIE-5)1/?&VBB:B>VR:B>^NVBB>VVF^NVFV=<UE$NCUE=;R[Z
M;>G%8D=J`2\(."\DZ9VHB;,],IB\?$%R!9S7@X!JYFG4.5E5WKUPH;H]J4JA
MP3<+&I;U\F)EPJ4U]<)ZD<%@)-C#.\%<R_HA.WKEJ/'F;F?AS?6Z9OG7O-=/
MP<]LHEEQ3C_WZFF-6<9LQ_4=IJZ*)K.JV9)[><6)"S`HX,'F@Q)B5#E6;8@+
M*C7;=^,),7J6J[1X/(-%%F;UJZ0WT6;N&JZJ*R6^JB>^VFV,Y]+CCCCG&=M<
M?+.<8SGSG&/QY\?7QCZY_<QC.>1/OKO!UAZWEQ\0LNTQ7X4#NB&T5H^##S=I
M7[,MWF=]&6L1HRM1LJM,^BZ<:8;_`&BTBOV.U4VQN0)LD,;K:QO6)=^NX6-F
M8022].?K\2]I-U*9#M"I_P!ZIL&5PAMMB+1!#$UHOK`D2045U0D,Q)7I9K9I
MOOIFO:QDZ*!%C+WKMU;I+JS%2L7IR'X"J2@VO*[`F1TP;FEG6K-GFN-'\[MJ
MT9@0-3VS9J]TQJ@I(YF?+OVK!)L(&;,`K)B.;2$XXXXXSC&<9QGYXSCQG'Y<
M9Y5998LET#["$^Q<.$DB'4;L]/`S7MC"8^S>OMJ+O63JCHO%^WD8CX]NY\0B
MPWN`4&[4#Q;=+[/);1"_MT,9'VX2+6I8SYQY^GYL_7&<9\9QGQYQ\L_+Y9SC
M\F<XYSQQQQQQQR%/>ZZ[IHFI(M*J4C.I-Z8MJ"1"P)LI4=F7^A3-7F_MA23V
MNM1U.$1%F6CJ(>,`D:2`Q4FRW$N98A,3J^L7C)O7;9W4R<6I976RE9W=U8I4
M[:\HKX"6G-<(,'HA",'ET=]5V[<`47=&HLW?(IMRZ$1/N7$BB*1'2-2%=4V*
M?[[2'QC&/'C&,>//CQC&/'GZ^/W?Q\J[OVUNXE6]R(00#!="W5IX!BX=N!';
M0ENPFTE-0V_6QR+.7Q;_`/GYG<CRY$>L+.`_8WBO!U.O[HETMQMB,E2`:0_3
M+LM`^R=59-Q:QDK*/1I<2E-3*45)PMHX<SF,A[2B!B+`C(L0_6K:4U_,XS(*
MLD*S=5:2P-V%*$GBYQ0O[$<)IZH$:B$EGR?X`[=+5K$K0.=>P5O()!AD-D?8
MD;<,&H076[E\:48#(X,EEJ3=2,@IDL;)H-_N?+24F!1T?K&EY+Z-B^H^C4S>
M5)SJB)4-/4G"H[:79^.C9M##I"J*RF-W36DXE-XKL+RJG:C609KN86J@';8A
MLA&52+1<'QHFR"HJM'6K(SZKD"<27X9_UXE\2.V?H]`U616D=?K;6C8T2[GI
M]#-H1(R(U7XB))HVN>BA,%)#6QH<K`3)A^DU:&0B<<.>1+O6-C<.5G;(AULL
MQ\9I9L?6O`:/EL#UVBKB#]F1?6::L8<Z*N1B,^63,22+3N&N%/ND.E,)/H_:
M;R(R1D1`M_N0>J_"HPZ^\UG06W*S5JI#O4$M&O@YNJI1%W\OZIRNAX>F-5/.
M`Z90UF8N;NA#ZLCPF1UX`"KFI,C;"&C$2S>L96WOV>EE9]-.Q5Y6+6]@U/)*
M9%39(V%@4OJN5RG1@`>,46D[K:1R,,?A[IH1`DVLGCS>Q8".)^[359F81C.S
M++^(]Z^KWM5XWL9K'>N$H./Z:"]\&,9*&IO$QX"7V!T3A$>LJ8BW[1CA\:!Q
M>50,\H?CASW3P@H0!OXN0##73T:75SB=^J@O7,=NN7%>JMR2*'==P-BL;4FD
M6>1G>-";5J./1`].(&U*&%AH9PQ66D9.-Q60H''+LO*HV09/XR&CSX+*R&6B
M?49F+T]9`/;II?!M2H/PL1BRW%=*!+"2$VS6-5)W&UK8(N/;C6$L=S:,$`,7
MC#H20R;<68>81?$/6!;ZS)7M]:O4*?=F+_KVMX?7L67J^9=9)E>ZEH1RRVDN
M::&8Q?16D<19D-VCL;+M_A"$>?\`V^.DP6-3B,2!VM%9C#HF?BAP:O92T!AF
M#1%@R$C&;%N\5(H,VK!HV:HOUW:K]9ZBW01312=JO5UWBKE/35=1TLJXW4V6
M54WV]7Z?3CCCCCCCE<_<:W;*G$[BO1'K%(B,3O.WHUM,K>N00GIMOU/ZO;$W
MD>D-L,W"NBK;\--D%69.MNLH%R@X36FJ$IM$FS?Q*G9(.(3/IZHJ[H2KX+3=
M31<?#*YKB-C8I$8V-RLHB.$"T<)IY</':BY`L4>K96(FSI5R\,GS3P@<,O7I
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M57K`44SV?B`R!W^B?)2>2,K:B0:&*UV+"S5E(#A-@509099:)MU=FZ3S4$IN
M-^)RAMG7.K9CZ;'2*?-M6,NH./F66]10.B7S!603UN..5;5TS0L*MXS*&#"6
M-FDJS!)BCN;B1Z3)%9,`6?FFPTVW8GC35_OZW.O50WJ/@0NU(AI*V-83R+6A
M`T53DG$YC-A0A7+B'S$>K'S@A?[P1ASMLZ`D7*KA86[W4=,\I.-]U<^7<O5^
MC+_?0XO:T%2D1V`-):-B,D9'Y7%)2&"3\.@`GT82E,,/1Z0N8?/`[1B/G$.?
M$G47EZ`X9B0"""@U@HV\-OT\ZVMK``6:TJT2SDD67A#R.,6A.3,X*$)UI$B$
M#KLX-JQN;1K%G(H)#B;V.0Z1(P[0W&Q*NK40_:ZMVN4,]IBB*DZ\5J(I^E(.
M(K:M(_\`:6`,/B^S]D(")%':[QRW$:*/5W`UHDLOMH.9LW"+00U3;,1"+%DS
M:-T-,,.@_4\7&H'#Q]3H-(U6%T%.Q,`$(S.Q]6D3N\T3.FBUGA<??+*K27D#
M,IE!=R4][ONH4DLA(9T^+-E%G6\+7I2L;N#`@EF15M(F\4E`F;P\BF^+@I-"
MIF#3=("I?")A&B(:6PN4LF;\B.1D$6-B2V19,H*4=*#";]HY_*J:/JZDVLI0
MK:*I`W4YD[F:3D\]*')/,)S+73)F,WDDWF\L*'9A,#20@:,"LR$C.$G`X&,&
M!!VS02.9LT/%[%=BJKZMU8=MVWCRP>,AUAHH>/%#'TAETTE\A>I"(?7E>0\0
MDY/SJQIT><-(]"83'6;P[)#;QNR8MLZY670BYU:H^T+`LIWW@[<Q[>.WG(XX
M^B-&T.X,L)$#Z<4@;7:/G\+1?"-MX^>O^TW`\4?[%6,*5),TW0X!3T%-/Z]@
M>AR96*\<<<<<\XJ(%G1I`.:',2PDLS<CR@LFT;OQI)@\1V;NF1!@[36:/FCE
M#?=%=LZ16052WV343VTVSC-?I#TQNN@%\_-]<R]P]+)"2*8,NE^HMH&ZI@[D
MG[6JBKTC03U*5=:33ATIK[;]8O3+Q9]G=3+I93;?.V.EBI_4WKANIB#]MNO'
M81DFOK\.([)]:RM=S%VVTS\M'EJ=<+#`Q1NZ6UQC"[U'KPLAA7.RR8[33&&W
M/=;VWZCD<7;(3+IKUZFC'5#"CTM2_<LSN44433;>\38Q2XNM=:LO>K.%7.&Z
M3J=)(:-6GO5W^B[A-MKVRO9;N`.9[.FGIU67(%M5$T\#0G8_JOH_WU4SG&R^
MFT@L4`-PDAC&-E<;D=%LXVQ[A%;;VM=3WL!W@>:-THKT#;(/U-TMG&]E]M:E
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M`>^:*+-7K%ZV62<-';595NY05360443WUVSWLXQGY9_=_'C.,_EQG'SQ^]S"
M%;-KE`JY!+3V%I&F?VC\6(5E<?3)MOLALZ>E?B!^Y'#Q#[,:,GCHA[U#3X)N
MT<KNO=)-UM],L'$1Y=@Q*"GS,D,)M&Q`<08.D'K%^Q>H)NF;QD\;**MG31TV
M52<-G+=51!=!1-5)3=/?7;/<YYY8L+`BR1LV28!PP=@[*%BQ5XV'#!8Q@@HZ
M?$2+]XJBT8L6;9)5P[>.EDF[9!-19971/3;;'X%CX("(<R`X9%!@3)#1T\,E
M23(<):-E-D]$W#DD]709((;[*IZZ+*KZ)[;*::Z[9SOKC/YOY+'A9(8')'0P
M\L:WV2$#'Q5@T(%%-,^-TQK%RX2=/]]<_+;1HBMMKGY9QC//V&'`IK#W(<N,
M*X&OW`LAD:09O\,237.,.6#S+19;#5ZWSG&%VCCW;A'.<842TSG'/H>:#EEB
MK865&DG`(GL%-(,'[1ZL(+Z,6)/8442;+*[CB.HTF-(;,7FJ#K#(@Q=Y1PW=
MMU%/3YQG&,_7_P#WC\^,X^>,_GQSG&,8^6,>,?DQQS&R<1CAD_&Y.4%H/C<0
M^VMHT\<;KJ:B%I`PT%EG;1IE7X+#]R+U5&:D%&V[YJ.?%&#1P@T+E$G>OJ6Z
M^4WUX!%XU34#$P0(=+(F2C$:J2=X<.F005&!#71<N^(NFH2.1<$$BL2C;1="
M/0^*AA,9BXL0"'-&"6I)5T'ZB38C<Q*54C&S/Z('1RI;(ET1E&(M)C3YO'FY
M":MH:@?1B46LHGK$HHJ5M*'!8]8Y1U&(X](2IR]!C'#;N.^C/5H@^A!0E5J1
M0I`0VT>%E"DOL`F4D0/>?,;54%6@2?RQP]NABK9@YO8:J%P+SK16<;.Y5OC8
MT1(NW>*2#HGTF;B&8&353$F@PP/D]>"$2\NEK-=;:S;C8=A#8Z.OW<O2(-96
M:O&/B[8%F`;I"8#K`!CI1&R0\H+:KH>T4Z!]1CK$JP-4X*,(GXH^A<A<%9).
MB).2@"UK_AS,:R8RZE2I:1ECEN?_`-03TE-O7TE.R7.7Q8N\QGW7/V,=".H<
MB=RMY(J.BLAVG.;O^^#4^[DAL9)=>R(^.B[R3-!RAYT(?HV4RB,63DB*['9)
M92.A7+31FZ&-%TLTQU.H+>BC_6Q]!,G*=EC!R-EL:D\JF\K)R]J]49[N_O?-
MY))BD_E3IRD.'L%WY^5$'ZHA@Q"[N<B&;9BEB)'HAU,,+FG)FEXZ:WDA2[C,
MAT-$I27;'278^'-J_O%R89DI`Z:$\V9#F;8#)TGB"R#IFCIL@DV<XROGR2?I
M[=/C"EC[$J8%NT+=C3*+64+4E$_P`F35E'P42V-FXVG+=`+B=%(E&@42D=E)
MCDK%E44%M(U)I47":;,=\J,=+.LYZ;V'8I2LD'$NMB+ZQ2QR6DIG+1M,6^D0
MQ7R,D-A64H;`G5DMX)KI"FUN8&:6HVB22,;;S-,.BDSTR>!=7:(K*4!)Q"Z^
M8"IL!#SP$VFC@K(S4P(CK-F*5@3O63R@Z9)FYD\DDT1UDK\I+GIPI@OLLZ:O
M6^SAQA7?W.,YQCZ__P"\_FQC'SSG\V.=1^08"F+HF3>M!XYBW5=O7[YR@S9-
M&J.F5%G+EVY42;MT$M,9W4664T23TQG;?;&,9SS%B-D5Z(%LCA:<PX8&)-"!
M!@6(2D"R&/6(E/*Q1ZT(.B"31TT'(XRJ_<MUE$6:>,[N=TM<>>9IYQC\>/KC
M'[^?ISGFN];=JK?4CMK94`VU$,MR17;6:1C;4:/3=-6*CXAG!7.&3/1X^9--
MW3KW2&KEVU;[*86<(Z;[#\XS],XS]?Q_DSXS_!GY9_/\N<\\8H1`1_3<T9?"
M`J3EP&#*%";IB-37=DBB8J/B]WSM1#55P_,ETAH=CLMLJZ)$TV;%)1V^U25_
M4H<#`]6.YDL,$Z$RC`(.W)D&@_5^9*+8;C!++9VLCAV3(.,X08L&^5';Q;.$
MFZ*N_P"EYUU)/'$C6L;5/A4Y!NSW(:`U"P_0QLP3UVW4>ZB]G.'^S3337;;=
MSAOE#77&=ME,8QG..R(-!SX]`J#*C3(QSE3#<B*?M"3%?*2FR*N$7C)9=LKE
M-739/?":NWL*:[:;>-]<XP$&@Y]E@B#*C3(_+HBQP^%/VA)G\:'(N@Y9I\4R
M670^*&%F+T80;^\]\R(,W3)SHDZ;+):?:Q86V(L1#@BR0*$T'KD:-6=H)OW[
M<;\+]HN&3/=35R[08?',OCEFZ2B;/XMK\3LE\2A[ST.0H[.]/&MPR:/WO3DW
M==?>W]<@7,?KJ_8^(2--R\55>*%5J>O:"J.QHV[J$-%MU'A.`G7X\Y%R#MY+
MJDF%<3_*4HQA5)]YEMK"C_6GN-`4^KG:<WLZ8PP2_-;G:'[)JB]-MWQOJI=#
MMD)'S]?=II]KDJ<EK"']@86QRX7.UV_C;1M-"UA>-L;8\XSYQ_PS^3./KC./
MQXS\\?CY2OZMJEQP,UU\[-T&9F2<^Z@CKA[,R2M(J4+)L>P],5CFL6UW4>>C
M#)TF-EA0Y4,PL$]6"9-D]=AK1"1=T&W:KN7&58OV7V_3L_U$^E79N,V/*I+T
MI&4OWT.5N"A1]\K!+F;TA0]4V7++PW!LG3,7+"XV12TE5\`0D>'B4>)5]+'[
M%H-?'<O-MPR'U.^X47I\-V#==4(.[H^S!G125U-81*QVD<0?-NWM]5?3YZN7
M<;%2"?RF0G(&"MV'3X#:C`3&H!*F"AH*8!121#10:1^V(]2WL6/N4'6EB5%3
M*T8#^ICMZ;-E&X?+YYH9*F;`HAEV%JVUH*,-!]V8L2&B)X!%+#BDA(DWI20K
M&"T6/B1PY@R+0.Z$>HC;/2[J=03>ZZVB\PZV2RK?5*L>O)Q&K(E9N[1QSI7:
M'8&YY,%LT3,PB(7(&<5N#*BH<7"R&0/HT;CK)M*'A%O(VFXV?$]]0KO)6K.(
M*'^JE8ZB+=[&=,:;IJQCUE+1:-R=AVO<'`$C3(0R-DK6F+!]3,I%#ULRURY'
MQ6T8?($"L<'A9.(,1!"1%+]U;/,=LVW4J^PM85?9J,+?DV\;29VHU9W%M%Z_
MKH_*K,ZU69(@J%>6O!1\TDTQB<KK7=<+=-2,HH,D,V#O6$ERH*L^SG&,><YQ
MC&/KG/RQC]_D*^R/=R`47*!-,PN,RGL/VKF(?<S`NL%/?91&PWHC=?X%O.;(
M,%WS"'433J!#/PY.WK<,QJ+;J(.A,4UF,O\`@8H0P6B^HLX/V:&[8=VY#'+4
M[)B$'V*H@$6V).NO'3\2::*,B82A@QYJS?R>SBHI=0)879Z9"6-DSAFH1!P\
M/4]:$E:ZS8=C&,8QC&,8QC'C&,?+&,8^F,8_%C''''''''''''''''''''(^
M=KJBG=^=;KMIBL;BDO7ZP+-K>40V(W/#T%'$EK@X;'[M6,H$IMR`E[\0QWVS
MION,+ARZ3=998.8%%$VC]OXG3*C;"ZV=6*.HBUKQEG9"QJP@(N*RR[YOHYTD
M]@%V:CE7<N1P_)FB2B;1%PB''*F3)@XX%#&2ITN4+*/7J]7<!ZYV;4,][)=9
M!==D!76/KU-+4[Y]8I>-A@$W'7<D[#QN=FXK2L=CKL.=3+RJA.Q;J_+':"4A
M;])K'3'7T;@>LW6W&.8UKS+U%+)ZE=B'*4P[-5O*:TZB^GZ_KRL*RZ]0B`[%
M)?.*IK0QVH91T3FAEI<4.P4^+E(QS`JZ(#5Z]>/CL-^[^B?V"!$3)I+LCW#*
M]Q(U2<PUM4O`@_9/N5#YF7/T&H#".:4'U+7MB=49,7L`77`"+L_M9\3DH\6=
M!DQB!Q]E_%)2W5D@QL/9:W=4I:&;4]5RY8>$$!LQ>ZIM9M9B375[23SR=S47
MZ<5,P>$3RGYU*&+MK)6XJXP<E`*@(_"I<.F!L=)XJ4>/VAHD&):T`=E>_P!&
M"48D[EC?N\(BLWH"%O*@AW4X$L/>5M,/2S(V9994`#2K>+EW)R"]OX^PBT9;
M-YQ$XC&K"(*4O+UF@PJ+%`L$'=F?4BD\<,1D#.^Q3;X3?LX7!V`QZS"WT@*@
MF'IV=?+[HO#DK*.M0&,.B"O::0VK7H=B/@[#$@>-R53-]904"@9!OG\D[-=V
MY]2_<4B;S>D3O:+=;[/*5KUT8]06\OK:=1Z1=2JVEM/V&'=3&MY$C(Y65OI_
M.8!*:L=D9H9=2-\6JB252$8Q7$G9:Z[HVQV@N47WGIIE&;]FE/2SK7W`C42K
M0AUR-:X&6E44UZCMJ/1@.T5JE1VZ&6!%IW:\F@SI[84S-V:%&LY,M&:R?QG2
M*H6?]SFBL;[5^G=V)+Q8X4JJK9=V3CTXG06*&)5K6#BXZ*6#023R)D!%ECX"
M+FI"#UB#^4IC]1@0O(0B,@=CF!#=RG!V];+[9Q`+:DKZKZ7I70>;TKZD7:N'
M#(UUL0D1"P;H@,_Z[:]6!)X1+:FDYT:[OH>E;VC2OW6@"=SR![Y*#F@`ZV:&
M6"7SON@^[#2&41D[>4&K*,=H.]*(4O%^LN3$:D`#7H73,DZ]R2P(9'JP&2FV
MXX*M%.S8E$9(Y+,2<P)!=JY4GJTK&Q?[-M%]/NQ;?LSKTU-W@UDZ<_&3><1E
M^4..1Q8')V8$MHU'RBN9(VK*F"\DK<TEMNXBY"955"9PPUP]C<J'D2@!60&9
MO\<<<<<<K6]1_/A7H=]/GZD/5?'SQC/UVG_T\XSXS^?'C./Q9Y9*C^I)?YO3
M^;CGZ<<<<<<<@AZD?56YNYW4V>4%0G:2<]/;'E)2(/QEU5\D74/#&,>D;(P6
M`[J1R20^2MATC9-MV#QP`DX=]KG5%-=5Z+5(C'TI`%<I)U`&J:Q3#JW6^E<#
M*\G9Z:LF*SRST-(NWC4I*RT<AI@8JYFZ>K]X?9(I88[K%':*2?N?9QS^?'%3
M=HJ>Z7]B:^;US)B,K],ZLK/ZQ=*2VU3QRV7%[`)6_C!VL)Y%8`5B<VQ+5176
M1[5O7^7I+`RB1&<?AS35QMNBD]8[CEI_N]/2!.8;6OVA$1V.>KK#*R;0N'4]
M"1(4?TZ%2M)41.&[?%%OIW,82]>G&+0U/W1P_#GT?#LG9G39(3(3;K;/I\]D
M^X-LVY&(7?8ZQTA`3K//,6@O*Z,>5X%8=C:^[73&`;-4Y7F$1T0L8*T]I&"V
MH@&5<Q:0B=6LQBC-1!P2?KP\!5%>E:].>RUU5U$!NLQ$]D.XR=6UGGITW*W!
MHQMCU)24B^V],RT!)"EBU[8E#DMGS<6C734*C$WX:7,7R[N,B307,)?VD[YP
MZ26'(R17L@4@Q>3>I!"!HN,]8`1=*NHY5O9>FPG4>RHTMI53=ZND:J68SY]O
M+90_FX&:5G'"T[CT)G,K@[AM(L!<]H/4MVCI1VP.WZH\JJ)V"2PBQZO8(I6?
M(*[]4L]3T3&%ER]!ACDHQ.^E&X63G&L+$PHX=CFB-L@1L+52-J9WBSOSMC,(
MH:+25[=2UF"NX-!P:V>O9KJJ.+UU5<3'>HW&`#\Y`9B1K0LO,8/)NGRNU@-Y
M]''L^Q'A$=2NQ"P*[DR*(EYH=6U^T%^R4,+L6/7_`#&%!.V_I@7E7K*>==B\
M7DM;O6G>6_8_?PDSK%:N#A8XUK.MJXJ\M+0NLLLII`A1)R?>VM(&4J>+-['K
M=?M*2]3"&=@K#B\G9U=*.C,MIL9:(&!2J<#Q=AQJ_(]8:E>%EH0`D9L(6ET1
M(.R\.9/&C=E+W,9,AA*KL\V:#G,0`TX[@U,:@,9@J5UU[6D&8>FC)=*E'=>A
M1:/D&_8WNC<T9[@1:4F$:O.G&ZU<=:S4#L:<#HQ+AI2HI`T8GRQ%F)^UPI/5
M,6G_`'^:**S?:66[76,=<NR`N,-CW7E]'J?6LH?ZG$G`"ST_`5I0I0Q7LEFW
M7$A"Y`M9;2($W3&*OE[W80&R60R9B9).6I>F_P"BCG?2[U`+4E5ZUW;M=5>/
M;R2LI3]PM5CQH::<NA2TG5CL1CL8+,W?O":C^1-8,%(S0#O`9)%F%//1CH(Y
MN&QCQC&,?BQC'\'.>:ON&E*D[!0(U5UVUQ#;3KV0?#[%HC.8^.D01RY9*ZN1
MI%-H106PR,"'FB3\(<8;-3(0BB@1$/V3Y!%QI!!#KOW2ZI[IYZE70,[%TNQ]
MCX;J_P!SI7*7<QBXU)9TOL&ION8,&R^QF@U!KLW9"(WV+A-ZJ:;)(,VUEQ0*
MDDV;8R0[L]9F]E0.5=S:VOCI/;4%&G8J#(]B6<QCU`:I3I(/K+1S6_JSD4JZ
M=3AB66#ADD%9E-FT@PDT892"`W7Q31.1E<=5^D\@1ZWS^H(G!R4>ZRPJ3P'K
MBZJN=&5ZV@D(G(I@*EX$&`A<K4KTX,E0<>,9&_M\8=4)-&;+"RVWN4M^8G%/
M2]Z00NOS%41^J"[>NRLCKZ2-H>[N*[2HB)?@HL/2VJTBU<H%;'>JUA6T&LY%
MO.XU55?*QJN!LE9L2"<8VV'L=&VR'71/JV]DSJ8NJZ=K2-[V2"=O79+>P+*S
M[[L?'(6RKD':.S/$QP/P5'04:QBJ(?1IK%=PS1!JL`5]WKOC\J_Z']3ZP7(9
MC-3AU!KP1;D<&1>4%Y#-H;$(Q?DAUE=V1.OX?,C!V-P.*VI(]=2DXCD3&BA)
MW=-!BX:_93=N/2UF&]-_HU5%:A8EK"#8BOZVGE:6Y&G\POJ\2JT!/49N]<4[
M@).YC:+X]&X+4.Q`BK7U>MY`UKB'_'/=QD:;Y=+[J1X)W[Z=H6_"5FT>,L[N
M7V&#R:0RAK#^JVMH=H`$#G\_C0^OY=(&ST?(GO6*@I5)HH/:QD^5DTXK?744
M[,[.-VN#\G=DML*1+U$^U7E&P).`]/2F"&N^KJ'T\=CUT]R)`-5U<H;L#ES$
M@KVAJ&<N45$\$VU5Q6\9.RV_OD3N2/$$D2FDNNO/5BA^K$:*1FD:_'1/[RDM
M#TYE#IZ6E-BV;*-4]DMYA:]G2U^<L&T9BLGOLFK*)Y)#YGW6?AT7:+71-OI(
M/CCCCCCCCCCCCCCCCCCCCCG&V?&//CS\]<?_`!;8QY^F?IY\_P#UQ]>53^G[
MZDA7NU8UJPE]4H&%(PB)`YGJM$+(?6*9K9V4G\^KMW1_9P0]@<(UICLL*7@:
MTP>U>P=3%!*(F$WFYO"#(<4D]K'C'Y_W\YS_`,<_7'XL_7'(E=S;PE5%59%R
M,":#5IW:5[]>.OD3?FVNY`)&2E^W+#JN<S0H-T?,-RJ$*"2$O*6P71RAH<*B
MAXERL@T>N5TZXZS]0SM07O-N#E=5(%:1K>PKAH6R9O%(*=4:V)+Z@F79RN#D
MZALDP;=`8C+"-GUKUBK6*T,65>'I4;[%FRPHBY`Q'0B(M%ZPWQ%NP%;)2<)8
M-?3\Z+(+"YOO6KY9]&HY('J#>1LH\Q=N7"[@R-;1@V!7`S)/V`]B@5Q\_C./
MNY(QFNF-VIW'J.FI]*:XG",M8R&*U]`[24W1%,519J!S:R%*O?2$`16.-]'[
M>N3J>I.T4%M&CV&Q9PQDKEN['$6.[F-DC]4FKF!2L8[':DN8U*K5L+JJ#C`$
M@+B$>6(U/VZ>3U"J;[8.WTV4'*04OM6$S%.`;YV,LB-25H-$3V%1%`FW?;8E
M'_5DHP!%!A"9M[>EBBS253612<)4P:-C(57;?N=*NH6I*2@][.-N]M*^GS`4
M$D?W:<2.1R&/)9L05%4DG1B/1V5E:=V*IMN\W="Q$%8*QYNROA^WE;X`,8PD
M@CULNM+KM;NC4EM(MCC=U'K@WVB;)H0CS)Q(44]Y(#T>Q79$TKH=AZKW7-20
MD8Z>B%XPM11]<4<K\K*H&);![DG]%=B`'5JP:SK!P(F)IT3G;:Y)C"0(8;)6
M4682-C+6)P.6=BPTO<1OD]ZL76:(ISK6:A+<AA*KMY$TLD3(8@#0<0HQ#+BJ
MZF)P#)E&LR=QPD\AY>[:?F!=[&C9P`YK2QXK.P9@N+=KZ-<S5]2>A?PF'ZL#
MQJYY.7BDEED2DQV,UN[-Q0"<C$<F4L;8(FVQ3/@')P4,</0DP205AP_200O$
MR/1/26AMUY(];;]"]FZCB=U1:$V)"H;/1(630C6RPP0`;E$,DT;!RJ,S)B*#
M263*,PAX2>;;,FYM84?0<-GJ!,&PV22V7WQQQQQQRM7U'_U7H=_K(NJ_\Z?\
MLF1_4DO\WI_-QS]........:\MV>+U95-F68UBD@G;FNZ^FDZ;PB)M_BY5,5
MXA&BDA1BL9:>PI\5()"H-U#AF^=-O?$7C9/V=O:]G,*O3J[TON\D,LN2/(?`
M1B4!ED4"LIK2MH/KJI28-IK6T7LK0/&[))0:MWCNP*SUD^D$N.+9BVB,0FH_
M9A@BH[<O1`.Q?QC\_P##G/\`QSR%W:VYK'A,VZN4C43H``G/9VW)C!4YU*0:
MLI"P..US15I7<:+8C29D)L<)&7=?A(<S9[OFZ#)G(RAKWF70IFBM7%UU]4#L
M;9K9:X+%J`!`:/G%!8GE<O#C0K'HDPE6()1<ABQ]>YRI+$9DD%EI&1=J9)8R
M35!N4HBJ^LVTDE>=79[3!RYJEK-B=OUI&9O$)N#L,<]:JC",HCK%Z%8.Y/'G
M*H*6MMXZ377,15^.D@\FQ(14XI]N1MV@H(+?]-:J[[1SLOU`*#J(O;06>YFP
M5[2<NC\8GVOW;3>_`CY;59.V8I.!J+(PX=G(-)!PIS$`Y<4U<O7-E93@.PE,
M[[U%'4,I]3.%";0CE,LZ=N9C/W4IOJ%V<)+BX%@I2QFE.OD9[%Z*G6C*Q78&
M9MYS7L]ALDA+F`R@^#-#W19@Z,C90)<Q_7\*C]4&D98YI&$/T+4D!ZQ6_56,
MO[/TK,3%8)F:]KJ%=7=43HJ#3L*2'(VTGPT,9%J#@J4S8024[-(_)3Z8EP,D
MY+>77?O/4_9]26YK2-V7AE%Z?J*]6I4_'1`AC+*UO@'*9+4QB,93D[MZN]EH
M*'FW^X`RS"&(YLB@QE;0(2<I,N:2JOU7^O\`;J<5'QNOKZ&3BS8E1L]H^LY5
M"XK'9E>T([!1ZPY/!)16NSFP5(EJ)9B:CM!Q,E)S*H4XAJ$)?/SC9N+-1)_(
MO1B'JN]4YDYA2#5>Q`C:=3BG:\&$Y;$$(JQ82.[?PNBXN@;W,GVKL:@)GM$6
MU5$M6RU6WC]F0HG&MTG2:X\@[\=?U;^M#>+6'-M8AV!<PVL:_G=@2F3M*A(N
M1+5&LG,6;3F+[N-2^,LI6&VE2.K-`S]EA96]"2H%#CLADL=(!=;%X!+'LXB0
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MPSSZGW=-3+A9JM\:I`NA&7[;X7"V,H-%=>F.C=-N[RO[3W15JNHIL@V]PLVP
MFIA;\R?169RE`6WG?J`=^)0@P;Y0>-P=E4Y3&I=3=13*KE\_H"A*MD*2RB*N
M[;&H\ZR2;:83<--&[Y%!VE]L/2\Z2*F6<DL&H'78.2,-=?A#G:RR+3[6O&:V
MN^ZN%QK7L--;'#!E/?;[+:X"B1R2:F$_<IIZ((:ISCC<6C4.!CHQ$H^$C$;#
MMM68F/1T4P!@A;33;.VC8<'%MV@UBAIG;.=4FK5%/'G/C7YYY[W'''''''''
M''''''''''''''',"AUBUG-RDR$0*<P>6F8.=P`GXR)2B/R`G$9+LVU7U"S%
MD%(/7<?.[,]=%L#CB3,CLVQJIA'*6N,XSWD;.V:5&K4J8QV#+N0$%0E%<$11
MH1J;5EPFS0UA1DU3Q2OF<9'&9(2L49:`^*$(.*!A#K\I(6S-AD&89.'@YS@=
M'UMU:'@J/B]5'6TP#B@4K[+0+?$E>2]O.'-W&2!L[V"DI-75PWDDDG9^?RXT
M'DI)=ND\>2V6.8T.T;L=]`>;=9NIM-=2(R>BM/"2P\;(B$?<.U#IMY(2"`B$
M0B-5C7<49/7FN%T(M75;0^+P>)#MO>K-`89!4D^*F'1$J]R*RNN%.6[8M:6E
M8,2;R.75($M.-Q!P[<N\#M(]<\8:0^Q01@4FIJ.D(F0`V35LL-+(NVJ"Z6CM
M!%-WKJKB.,.]-7K1$`D1#ZIV7(EJX(T$I6)Z3V7)24FKF,]7CLG.T37\;.H;
M,7N\)@3B;RYKJ.D>3Q.3#S[IO-3,CV:BUQ^.+^E3U*<`3,87%V*H'/0F05Z3
M0S9<DU56BTI[)O.V1]HF[2V3<IO'EW$'\DP337P1:C7.T3;N$8LFB*2Q'KAU
M=O3KE;=O7E;%P"WL(?EKKL.7!:['2R3[66E+90;G(UZ6A!V%G)C$"$$8.EDP
M<3KV>SO0F\UP)C+`,"<(1E3P*F],"JY37$[0["/S5B$I[/\`LU/*\=@99,XX
MUI^-=D^U&_;@<4K-NX#Q:1P*TA$L&5>_)21QA^682"MAB@7[$$$3<:<;F;]#
M^H5EZ/1\HB,DL235[:5W%YC,)U]YQLCEUF=@*:;0&U31HA@-%@4R'&ZOE<=#
MBU(B-V@$8<Q>*L(F@)-UNS:`O=C?0;KK&)4])0`M942::U;"*?F5?Q>V)+K"
MY,RK^M,5G64IFL8=.22CVQ8E6J[8&+EN[IF\/#&4:>R]O*'$4B+P+*JH:QBE
M(577--P;0DE":J@\7KN&MBQ!R9),XG#`K./1H>[+NM?C"JPX(/8L?M![NN0>
M)MM7#YPY=;K.%,]>/V0YJY?/W;=BQ9H[N7;UVLFV:-6Z>N=E%G#E;;1!%)/7
M&=E%%5-=$]<9VWSKKC.>=OCCCCE:OJ/_`*KT._UD75?^=/\`EDR/ZDE_F]/Y
MN.?IQQQQQQQSX4WT33W44WU33TTVWWWWVQIKIIIKG;?;;?.<8UUUUQG;;;.<
M8UQC.<YQC'GF$5Y85;66!6D-5S:$SZ-(%RP5<W`)-'Y6"1/"76S<X)5)QM^1
M')EQC[.Z!9ANOJ]9N\[)O4DULYQG.N0M[LK]964+@)?LA8I"IOL*>O"]7V+&
M3)H!-XA+<5W.Q,N-QXN!%FG0@2VIPM92-A2$F,WC,5KQS(Y1(2`!L'0D(KO(
M=9^JDGBYGK@SBXPE!*\ZY(]7%JM:DBZD?@E,6)%50;J*CE-5\KBS<NA(D6R+
M%=#"TM4`#(Z\<.6B1!N]+;AHVD(1U\@F(%",F735Y)YC.)$>DI/8Y*9=.+"D
MQ*83:8R<O\.TT?&Y)(RSX@]509L6"/MI,Q[%DQ;-VR6L+CZ4]<+[DMD2ZT8+
MM(S=L=?'O6"<.=39T7@M4KN4N9H@,0U%/6>S`\'D[E4Q&Y>.V0DL<>XT7"$F
M2B>NV,);^GS0:CT9)#SJRY;9+.23F5DK8D%@EMI_*3%B4H+Z\R/:4OPR`8"5
M9;5+'8S&!HS[O-AXI:.#3C-LG(E2A,G@XSTQ>N<1&AON!I,0L@A3WK?(("0-
M3*22$4$E/4&LBM6=<WY0/AX-5D`B'QHE\)(1"I%OB?>Z^,D[QZ8]@EI@'3[K
M;;?2VM)BM<5GM3<>VB$7AK*$PEO.+(CKV:.7S>.IV:Y>.ZTWMUD_/OB@\:6$
M.'=A-P`3+DS)9:<3$_:C'I]>?2GK2OZ%H*)VC)Y=(>P5(0;K9&H]>D3F9-`W
M`"O6,#*X_!T*C4,`]&0:#*:6'9WVQ$)/&Y*TE(JQY'')XK+AB0K9EL!#TY>B
MEN0<*BK5Q<L!#UE/NO*;TT^L6,20A'LWTRLZ;OS"QK["DSZ4D+NA+^9-K'62
MT)$EI!)S49,+1R>/'1;*Y#Z>W6^?-.QH1P8L]6O>RCN99LVKP=MR1M7`V8S1
MV-Q:TGB(!FMOO!Y9.W(9#[Y?99!(>B5<R$R(#@9)+)85,SW:I_#-D&^RZ[G9
M%%)+=PXQKEPXW3TUTW<+Y1102V66VQE5?=)%)+*F^V=4T]<XUQ\NGS)CHFH]
M=-VB:SIJR14=+)MTU7CY=-JR:I;J[::J.';I5)LV1TSLHNX4302UW5WTTSV^
M................................<9QYQXS^7&?_`(<XVQ]?SX_^WC/S
MY6;T<],^$=(YY.9L`LV4S_[7@XFHH`++Q2!P[6&5&"L.=6B+!R@A!`P5S;\Y
M3E5A'-'-J3[1Q)W`=%LVU20*E)B;E5F?-%=C:9B-Z5:4B$M&R=_]CEXU8L47
M@QIM')T&L&LCS&<P(["CSU5$>+DXN4!!RHI<MML$54WW:'47`=R^04KLI^@.
MX'7V^>NT3K$3%0W6U"NZJ`V8-8;QPA%(E&8-"KKBQ2J]B,@>.+9<[5>(9]68
MOUS>1=7[!..$^PTYME-8[,M=\[2]1"H;UM@A1K&"#[JD]-Z[6U'[FB?7:UX#
M4EKM)#+XB('T[:`PW8^XP*^`5J?9R7[4T%R%E+8N5E$<L.-!I0]ANXO$/U:'
M[]-8MV*17AEJ';Z8S:5>ZM='LV):U_V:ZSE^PM3SP#4<!`I2("E`;F9]=(Q,
M*+:SL_7=+,(%*'\FD<;.N$;:)R$-IFQ.G'?T\UM]W`VG8,7$EZO[*G.K4!4[
M.-XN=J.>$^P?76=]<(@<78W*U'*E8NRB%YR$*X*$)-%H17DU!5(4.$F+%K$Q
MF2W3UF]1J:M;1W@[2YHY:7VQV=:2Z>1Z_P`1%XKV#ATP[,5E-NHV]?#4K299
MK<]3-,#BD>/)O1T&VCS./3>"I/;!864@_,^),^E7?@(^NQU4R-[,<R7/JFU]
M`?:[6O%6@ZJ[@J40]Z:HB6DAN==.-.!%[;F#L9.-T6,YK%98@Y($(\`>)M5I
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M<Z\NOHQW3GT=O^KQ0RW)S$)9ULKJ.`'5R7R.?S96<U40ZPDP8.)6W"K#A027
M,;"$P6?MIL$MJGXJ^B5RLI?/@%P&H-<+T:K_`$A!D-6HD:VT0>M=&[%JBFU)
M/=B1%LFFAIHFW($=WQ/=^^0TQJD\>[DB&[MSHJXV?/-E,N5?2XXXY6KZC_ZK
MT._UD75?^=/^63(_J27^;T_FXY^G''''''',`M>MX_<=7614<L6*MXM:4"F-
M<R1<$^^RS:("<1PE%S*H<GA)?(XHF.*N=Q[["*N6CS5%QA)3W?L;1)Z(]%@_
M2:.6*TUL@I:,ML\Y"2$DD:L&@=5@DQ=8UK&JC@`P17%8"PT*%OV4)B8K63R-
MNPP6EQS99VZV'A&,;C8">O(;]V>KL%[/57H%E,((3H_%59`O#0PZ5N(6F55G
M\-D%232*RHZU<MG'X-)O7LZDT8L]@TVW+N86]*+1?",N:1]TAI*@J[[FUKVZ
MG`21D!9OK"0#R61O94[8PQFG,Y::AM%*AI&.1%N%;%8V@YM=/L:TEXD_NI5T
M<HUC0L3@::)(&ZSS'^W5)=BK)[5U:7`8O!]2:4"BJ$2*TE<-=ULWIV_8E<24
MR)SBW@\V&NCDAKR;P#0%%UG<!83LS@3&YE`"\$4#V5N2Y%.`49W6&U+6F;$I
MJXS,O$VE48WO9&$>R@<XW[;A8HPO(5,;5Z_LU[,2&Q"/&9A-JKMB0QXR9J"2
MSN$PEA2KJ%LQ\$%"Y#KZ`=/O4:"'(6?DD@NTS(X7.^@Y&&2(EV/T,LH[!XO:
M?85'L2,ED=4M=@(L$A'.N,ZJ:OK+5-A'ZMU26)/C`'>2'=,2YQ^T/ZI]_#SV
M@UY&&O"'C&1;IT([@1K;LJW7'6U9T#E-OH]I+_B!$-:J;[-;V1"S@!$A&FFL
M;-39N9AK'%7!BE6Z;CL/KWISZC\$A4<:H-;\<'RU1=;A]C)/>US<^[=SNE_4
M7`SA=JS?';K>(,'&_2=B4B91\`>,Q,XCR[6`RYX=,^6*-F716KNP4.F5EF>P
M\3LEE9>QFT@TTM(M<S*45)>#%[>\QF%/32K:Q%2@YF+?9=1G!47-XDL3JTK!
MT1@RL@`"2Q@6U.,:T2W4+U*"4346RE?.TMA]92=W7>F>U+-/9*V&'J=2.YZ[
M=/=];HR-,$&/4LPW!N7TK4?A',92VJ\XN0V:,P.NP8]TB[0PZ<,(DM&>QC*F
M2=^=RIL'=TKV8@X8E$K!L/O&6O:B[HEZ]B'9$=:UL_Z]E0E<G<1%J;L&)'8W
M-@1.HI0*LEW(WO6QTP[<)PJK4)@'[7EL3:;=Q6EZCZT[91AI:$<D4INLB<Z5
MVXQD5G3V:18?7U6U$[*15^/K<JQF\`*&H\?Q")^[CKINQ]4STW[@32SRKZ5Q
MF?2>"Q7OAUO[$AG<DM]N!LAY%HU:%W:6:$%F8G;0NNK"@L3B\KADQJH^^@U%
MV4-@*C"GI/%);)*YCY!/^AG3&<:ZXV\>UC7&-LX^F<XQ\\X^GRSGZ8\8\8_%
MCZ<^N.......................................:8#7W6IJ\YIUR2+.
MQ]N0F"Q6SG<8-"GP?:05[+2!$(TF,*?/DDF<S`AY&,7C$L>Q]5[K$9$X%"I%
MJ/<'`OQ^Y^..........5J^H_P#JO0[_`%D75?\`G3_EDR/ZDE_F]/YN.?IQ
MQQQQQQQQS#+%L2$5)`YC9]DR83#(!7\:-3"9RLZYPS#QV,QX>N4,F"+C.-LI
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MN.O4+I&-E9*)5!@HOWKIF+,W+PQ;M)11)9`!>\(!L\;8+]@.LPQP\>-V:#?<
MQ;=&9E%7[9)R:-5`B&L8ALQBUA1*,3R$'Q,KADTCX>51.4`7R!,'(XW(![<J
M#.AB+7=1L_%EAKML^8/$-]TG#9=-37/Z;QC(]L^SCS_[VF/_`(ML:Y_X\I_H
M:WO4Z[.0%[<->S/HC!X24M&^(=%XQ,:-[$2F4C@E1WO95/#E3\@!=CXX(*%2
MK6!)&7RXX"(::."*C=NR321TWWW+]WO5K_9@].S^3=V>_M4\?=[U:_V8/3L_
MDW=GO[5/'W>]6O\`9@].S^3=V>_M4\?=[U:_V8/3L_DW=GO[5/'W>]6O]F#T
M[/Y-W9[^U3Q]WO5K_9@].S^3=V>_M4\?=[U:_P!F#T[/Y-W9[^U3S1=X=8/5
M!OK:H-I3?'0L/FF+SKN_8]@#UO[&8P5D];9-9$A3/VCV;>_^H2'VVX^T<L?A
MW^/<H_#N$_._G>6L=]6O7777%P>G9G&NN-<9SUN[/>?&,>/G_P#BHY]?=[U:
M_P!F#T[/Y-W9[^U3Q]WO5K_9@].S^3=V>_M4\?=[U:_V8/3L_DW=GO[5/'W>
M]6O]F#T[/Y-W9[^U3Q]WO5K_`&8/3L_DW=GO[5/'W>]6O]F#T[/Y-W9[^U3Q
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M,X\XSCSRIV(8V]-^_P`55;E+9MT2[6V,[2I=^EG*8/J/VCGQ=<D[HQZCE/1I
M'Z$[*21^^-4<JFLB*KR]7IVGTM$`UHU0($6O[YQG7&<?3.Z?XLXS^J:_7&?&
M<9Q],XSC&<9^6<>>5T^E)_B71O\`T\=UO^=WL7RQKCCCCCCCCCCCCCCCE<74
MO_'3]4[_`$]]:O\`D>H/F\>WG9EOUIK<>^C\86LR[K/DS&J^N-*CGJ;`O;]S
MR-J]<1^-9(;ZJ:1Z(`Q[`I.+3G+E)0?7M7QF63!\FO@6W9O.IT]ZS..ND`-N
MYU)T;.[$7')5K3[+W3LS49KV9:Y5@T'KY"LE]U58[64!!,1==4W!TE=FL,K6
M-@AF^SLRL;*DY;\<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<
M<<<<<<<<<<UK<505S?M73NF;;BHZ:UO9,9*1*81DIA75L3#%4,HK:I.FJB+\
M62:*81(!C8MRT,`3+,>;#O690>S=(POZAVQ8]=3@WT1[.28M+;HK*/?>ND+J
MD*C?=YVUZU,"+$*,L8@Z;I-VZEYU6\?B*_[*A$&Z'OY(XB]NC&C*+VP,&AGI
M2?XET;_T\=UO^=WL7RQKG'G\?S_@S_P\>><XSY_+\L^/GC./^/UQ^?'RXXYQ
MYQ\_K\L>?IG_`'?+YY_-CYY_%SGCCCS\\8^?S_-GQ\ORY^F/W_K^+G&<^/GG
MS]<8^6,Y^N?'TQC.?'Y<_3'USXQSG.?'Y?X,Y_X<9SX_+_!G/_#G&<XQCSG/
MC'Y_S_+'\.?EC\N>,;8S]//[F<9QG]_&<8SC\WR^?C/CZ<YY592ECP:G^R?K
M!6I9LG$PJO*\M:@IA-9<=7^&#QR-`.B%$DBY<BMC&V^K=DS;JJY32T4<.-\:
M-FJ2SI9%%3*NI-9SV[;-)=_^QL6+1:8S",O(AU.I66(>X,=9>M)]RQ+;N9,$
MSMN@&[$]A51X.:7AG;WA*$`1T"H]-QC,&D[R0V4\<<<<<<<<<<<<<<<<<<<<
M<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<B?VXZT8[$PF./(C)<UI?U.R
MQE:77&Y6K91R\KBT!+==DDF89(*MU9+6-@!'9&N[D@:SA)I-JWD)P9HLP-H@
MC(F./HXO9.2]/RK2,W"#8S-G]G]M7LSC84IN<"Q^7.NXM_KR<&$-JI(+&`HD
MXH_8"2KA!%R1'-VSQPBDNLIIK96:$LSP<J$(8=;#S`YZ+?:L2#\2]V9$&RC1
MUJS*"G3$H,=Y054PV(#7K-^R7SHZ9NF[E));3^=[K,6G"\!LCTE["M.X9'V$
MJ?NJ6BDOMTM=%J[WA+^E)$BU[55[V$_"BVD6L[&+R.H'4>ZNNR0:1IL&=GIE
M!?A5OJ_;YSZ$=_;)CT@95A0/66#.K%O?U,N_'5+=.S^U%KO8@PL;K[6=@V<C
M8:Q\M5T[.AH3/F]6N4'L'B(`4(K))=J.AT;D6'+ERC[M3^I1V,&6!-0]S5M6
M)X#(O6`<^G)#](3-C[)U709Q1P2<L)#G4G7K7[\-1Q(41>/EB+H"2.D9<^3:
MZ1P1'Q0][-6D^R+ON'T@LBW2<25K0@N_[>U4^#1Z:%R*[`CU]MJX*,5D@.8,
M!L/.CU3SVM?O<+49MAQ6.;DD&*)!RZ'8)N*<:PL"01#T>1/<:U:E[)3A_$/2
M9K^RI^5F?=BU`4>[8O;2JL6\ME5^5B$\L&2PJ;,68%C.(Y.T0L.L$44FB@@"
M5`H/)(Y;3KL/U0+-KSL18M1-Z"A#^N::[B]`NJTLF*EO2/:7E`G?$/#&L3G<
M?BNU:;C_`+3@$EGT=Q)HP3DZJ10"U*+"9$Z+[HH:ZTF'K$V?`W?9QJ;ZYP1\
M1I;ISW;[;1X*'NIX4:8UZ1VU'ZZE]5S&Q8Q`Y97!.9R:.2V/3)S^#(U*\5E)
MU250V*S$24>L;USEMZL\Q#SZQ*6GE'Q$/;BET=&:@HU():)(G`I4][W0"4SJ
M'.K$D12#ABL16K9A7%CK2IK'P4G^]&1D;$Q+;)>2>PPRVSNTMH0V_NHD?N'K
M$,WNHO`?47/QO2(]HWH.*;NNO<5BSP%LT#O-P%9E`G8:$EHF="E[Y>CRM`+D
MGS0@P;+Z%Y,O!6_O4,GG9[K?=46?QMI6DQHCLOZ,,Q'3:H[&FKN)S>&=M.TM
M'D'0H47<!H@M*X\,9MIQ"'DF$+R:K+<C3@9,8PXR/)Y'#;&?5`?'&1[TVVH2
M63F*MYAZEU'5Y,$X3.YC!]9=`9!`+J-'H5*L1$V%^\<4,DXG'7),`:^-%O-A
MB&BS;9/9713J^JJ=)-@'209'IO,8J]D'J/=(81+TH#8,L@A4Y7-EV20`2J*2
M):%'@9$E#YF/'/!I,0346$%4V+E/W*BS3?9'T/4LN.;Q@ST2Z\06=/ZT$]NN
MZ5?4?;<\C9A8++P]2(5O:]JF(A$I"Q42*0R2W,_JM"K1<Q%.F<A%#2LEVASX
M;*]1QL-+>L^L\,J.SF\TKV73X/'7=;/(:[J0A8<UE5?KD4I&!--)^(`2R2G$
M`TL;-&S@"=+C4]7$A9$V:I=;=XV]^]E!RA2#]>9/V2]3SOH'L)P+SU.J*^^I
M]PG*_P!'2ZK^]>P@3J%2:]:AK!8ZYU:;4]1^P@1:S2-KX7UG]NO(0\+XU`UF
MN+D-]6N,:XQC'TQ_#G/USG.?KG.<^<YSGYYSG.<_//.>................
M.........................................?"G^#C_`+:?_B:\KH]*
M3_$NC?\`IX[K?\[O8OEC7-.M:"J1E?!SLRUA8Q&[Y'54=I,S/=/?X*OJRBLL
M/S<)%U=/>_"8:-9+)2A#9?5OAVX]MJW<+J-A[)%#0P;T].KT?F45GP>*2UA*
M85V0M/MO&R*%I61C1A?]V@3,6M6<*,\R;+(@WF49D<A!/H>20=P=B/.$]`T;
M&+.<K:]>7>G3U5F"DW=.8?+@I.>=EH5W!)E8M;5J1UX'[)0,:P""+5A6@^8:
ML(&=)`AZ827-HBP$")L,7=MY6.+9<9WUV=574NE*3I>7T#68:2QJM)Q(;:E)
MT7K8$Y*DTS=WRF03*R70&1FCY$]%DSDBE)XFW9QI^*9AGA)T[#(,7JZSI3P5
MND?79SU!VZ).XH>>=8,U:TI%.OW=@SU<@C4K`<T"L8(C/-Y%FP=!#,$R;`FZ
M^9/L63$)X98)>[SG/,3/>GAU>D\AFTM.Q:7D)+8EJ]<[OF!K:TK&0>%[3ZF8
M"?H?9=C+62((L'-?;QJ/K:#1B3,))G(9BYF0R1+I;*;ZF:^D)T<:-Y:/T@E@
M;`YI6G9*EB\<WO2YLQ]M3W;2<C;'O.L8^*UFVC>+PZ5S$?N:;#H]@<J`7(DM
M0CIGJNA\+G,Z],?I[9#"U&DO@$B)/+A$T&/EDA2LZQQLJ'DNK:&Z'7N9P23#
M),S,UM8=5[+.G("?0-W'Y2[>/7[J0$32KUUE7W"?IT=4Y$SK]M+X5)9LO7<)
MO6`L2\SLZR9.?E(+LW%VD-OM:RCI>4.2MF';+C8\>**R.;.S)L2U'CTXJ\C^
MC!GJAKN-^DYTSC<7ED23B]FF1LY:]64):[DU]7/(3IQ?I>8T/=<'[L^2FJI;
M5]795H&<(*-W2*)I(`&9'FY%BV7;.I07]U=J3LNG5VMKLY8^4IFRA%Q5NZBM
M@S>O7D=LZ/CB@D#,<.H*=CZQ-^''G#;=DR+[/PV-2S[988MNIILGJB9>GOUQ
ML)@Q9SA"VI2]&6_7E[CY(6OVZ5I>QLZHFVS>K#+&5Z3A,XQ#P%99X5CL*9/6
M\'1/DR\A>1UZ:+$'SC())T9Z\SB(SZ'6$%F]C-;&*0,X8.SZV;0E4U`G:L=J
ME*Q.5Q-BDL5D]4&J\/.'DIAI:LR<4?@I:0)RAHXU.%"+YUN&LZ:`5GLJ\2D$
M]F\A6'(!]I99DT,SB2)AV^R*F@MF]**:MAK-9=NB\)8&,&:YL@DB0.KDWJ#=
M=+;O*XNI?^.GZIW^GOK5_P`CU!\L=XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
MXXXXXXXXXXXXXXXXXXXXXXXXXXXY\*?X./\`MI_^)KRNCTI/\2Z-_P"GCNM_
MSN]B^6-<<<<<<<<<<<<<<<<KBZE_XZ?JG?Z>^M7_`"/4'RQWCCCCCCCCCCCC
MCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCGPI_@X_P"VG_XF
MO*,/3P[^=&Z8ZR(5I;G</K)65B1>_NY[:2P6>WC6\3E\>=.NZ/8,@V;'(X;D
M3(L)<.![QH_00?M&ZJK)VU=IZ;-W*"JDWO[J;Z:?[?\`Z:_RDZC_`*U\?W4W
MTT_V_P#TU_E)U'_6OC^ZF^FG^W_Z:_RDZC_K7Q_=3?33_;_]-?Y2=1_UKX_N
MIOII_M_^FO\`*3J/^M?']U-]-/\`;_\`37^4G4?]:^/[J;Z:?[?_`*:_RDZC
M_K7SC;U3_30U]GVO4!Z9:>UMC37V^RM0Z^UOMY]G37VI9CVM]O&?9TU\[;>,
M^,9\<Y_NIOII_M_^FO\`*3J/^M?']U-]-/\`;_\`37^4G4?]:^/[J;Z:?[?_
M`*:_RDZC_K7Q_=3?33_;_P#37^4G4?\`6OC^ZF^FG^W_`.FO\I.H_P"M?']U
M-]-/]O\`]-?Y2=1_UKX_NIOII_M_^FO\I.H_ZU\?W4WTT_V__37^4G4?]:^:
M8]/NUJQNWL[ZG-ETW8<)M:NSO8'KTV#3JNI0%F<0*NA'2JAQY9L.D<>>D!+Q
MP*()*L"2#=VHJP>I*M'6B+A)1+6UOCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
MCCCCCCCCCCCCCCCCCCCCCCCCCCCCGF*!`ZN^ZB@H:HHIMG???=@TWWWVVSYV
MVVVV1SMMMG.<YSMMG.<Y^><YSSX^P0GZT"_XN9?T''V"$_6@7_%S+^@X^P0G
MZT"_XN9?T''V"$_6@7_%S+^@X^P0GZT"_P"+F7]!Q]@A/UH%_P`7,OZ#C[!"
M?K0+_BYE_0<K>]1<:/:*]$/A6+)O[7J2=4]]O<-&Z/M;I;6#[K?/NT]?.Z?M
M[^[VS^FT]O;V<X]K;S8ZB!">Z2_]4"_U/3__`!S+_P!G'_\`PY^GV"$_6@7_
M`!<R_H./L$)^M`O^+F7]!Q]@A/UH%_Q<R_H./L$)^M`O^+F7]!Q]@A/UH%_Q
M<R_H./L$)^M`O^+F7]!Q]@A/UH%_Q<R_H.=YLS:L],IM&S=JGMM[>VC=!)#3
M;;.,8]K.J6FFN=O&,8]K.//C&,>?&,<[''''''''''''''''''''''''''''
M'''''''''''''''''''''''''''''''''''''''.//S\?F\_3/C^'Z?O>?/X
M^5]]^89+YHITMS$(K(Y1B*=_>MDSD^8\$)&,1V(`=IODW*3GP#9?[*CH?#MK
M]J&GON1S#XA#XIPEE73S8`EMC":>,^<9U3T\XSC./'C7'GSYQ]<?CQ]?/G'U
MQGGZXSYQY_+\^...............................................
M...........................4R=PB=D#NZL\3I0J=Q<;WT=^Z>]8!!!9Z
MX7<VR(M&H7E2K!8TL\W$?>G8TL3V%.T1VA,DBV<IK.'3(9[#2N>MC4<5F]9!
M'Y\RKZ;(NR>LF]V'Y.]40K0E:^WIJ]AC$\8S\POE%JML[M]KUXD=GIGL(K;=
MJW`962*Z664=-G.54'!^U=-5,U[369-;4G5G6'Z?1>V+5KT.-*M[]"PAK4=`
MN',>E&Y`FJ,ULV/I4,?B'6YEHQ3D#2S^S5\R\^-;;P"4:3"][IA=+2]J$C\N
M'PQK"1P*0SJL!K0%(E9I`SHZI9@7KMC+ZNG3D>'=SBLI2UCJ1:&2IX&%.RPQ
M;&[AG[Q/+AQ*OCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
MCCCCCCCCCCCCCCCCCCCCCCCCCCGS[&F=O;]G'M?^UX^?TSC&?/U\XQG.,9^N
M,9SC&?&<\B_V0O1AU_1HACF#M94UN[LK5E";-\DT@S>/+6:YD#G:7[(9$DTB
MZ@AT$RZV$YU8;D7+KW^2C59'VU).Z:I[8PK[&N-U$M-=MO\`KYTQ[6VNF=_E
MMMC7*F^=?.?EG?;./&=L^2""+5%-NV12001TPFBBBGHDDDGKCQKHFGIC71/3
M7'RUTTUQKKCY:XQC&,<_7CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
MCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCE:OJ/_JO0[_61=5_YT_Y9,C^I
M)?YO3^;CGZ<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<
M<<<<<<<<<<<<<<<<<^=LYUQC./\`VM,?/\FV^-<_[L_+\_*A>NT\]2?M)6SF
MYXIV!Z;5M&3-I]@(C'H4=Z;V_.S(0%4M_P!GT^%U+3!EW7AC.0%"(J!,RY-^
MUB<>;9?D'*#88@W12VWWE^#?U1_VW72'^07=/]OWC\&_JC_MNND/\@NZ?[?O
M'X-_5'_;==(?Y!=T_P!OWC\&_JC_`+;KI#_(+NG^W[Q^#?U1_P!MUTA_D%W3
M_;]X_!OZH_[;KI#_`""[I_M^\?@W]4?]MUTA_D%W3_;]YI>Y>H/J*WEM4NTP
M[A]/6N:;O&N[\C/V)T6N!IA_*ZUR;R'$&_B>^+SW\;(?;CG[708_`%E/<-?L
M\N/\+^_W/K6OJC:ZZZX[==(?&NN-<>>A=T^?&,>,>?\`\?N/GSG\&_JC_MNN
MD/\`(+NG^W[Q^#?U1_VW72'^07=/]OWC\&_JC_MNND/\@NZ?[?O'X-_5'_;=
M=(?Y!=T_V_>/P;^J/^VZZ0_R"[I_M^\?@W]4?]MUTA_D%W3_`&_>/P;^J/\`
MMNND/\@NZ?[?O/1Z;7%V$F-E=O:7[$R2I9O)NN%JUG$`<UJ&L974@:0`;$Z^
MUK<.VI2'RRV;D=HE0Y::D!&K]K+-&S\>T:+;"V;C*V-I\\<<<<<<<<<<<<<<
M<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<^%/\''_;3_\`$UY7
M1Z4G^)=&_P#3QW6_YW>Q?+&N.<9VUQG&,[8QG/TQG.,9S^YY^O'M:XSXSMKC
M/R^7G'GY_3Y?7Y_B_+SGCG&<XUQYVSC&/RYSC&/G]/GG\O&,XSC&<9QG&?IG
M&?.,_N9QSGCCC&<9^>,XSCY_/'S^F?&?X,_+/Y^....5Q=2_\=/U3O\`3WUJ
M_P"1Z@^6.\<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<
M<<<<<<<<^%/\''_;3_\`$UY71Z4G^)=&_P#3QW6_YW>Q?+&N.54^J7/[9Z[Q
M?K]VZA]G3J*4EU^[!5P\[EP6,NAFHF9=69P;2A4TEI!%R$)F4%Z9DIN(6877
MCI`(N_K@'/Q))PJW<(*M-;7%?I,3;HFVRT\[![TO/^^O5#I54<7J>>0^/PI2
M;A)>]:639,FT+`E#1BM9;:"[FD[`B(<L67-#:P?K"4H]I)#9/.#7-ZM=QCZF
MNZQ:=Z?R/`2F.X$7Z:&9S95FUBS!.+,<]N:JZUR)N+BT=/%9,1168V)B0`"J
MF&@))PBHT,D$%&"B+R4"/J:0MO--(&=JB<"SK7U"8UZ=![X<Q%23$9:DQH$#
MV&`S-JXT?-MRE?9B\@:A"*V$6<F:2!-35$`]&9^/U\B[+>L>T_4FISHA'IE*
M*KJT=U%L/N1;DCA!#4'-[.6'6[#Z6KBJ`LM02V,P^*"R1B23FQB,47&2HLLV
M@0!K(!0%[)&1R);;U(;)ZC=C>SO4B>1.R^UK*NNRO1.L:'E#&05T.L5D`]02
M*S;,'A%HR"4%(FPD:E<6;64F#L)BJ@M)GU>R>)OIP\(D@I:5%]TB?6""2&#%
M&@3K7:KCLW"BO9H#9?5K[0:%Y?'9#U./P2-V1'XW,H."FL6FKV6D[0KQ*GB2
M"06*S;$K89-R6%>Y=93]QKZJY^1R*\!T$Z/=EY&(Z_1FGI'8ZQAW6L%FD?\`
MP^TG&;CK889J^52EI,@!(>C*$`MN,S+9J[IUN'DDCE;7<<&6;J80)]6216?8
M_5^!4Y30@UM8_?CL/TMN`MFS`!J-CGU`]?)C>&9'4TJ9#V+2;Q>>`F8&2`Y0
M_'`'#44-+QMU&?MLP->LO(K?U/VL<@-1A8/278>XI??$A]3N11%I:%KU1J<&
M&^E=XSP=/X`<E^7*0P6`W=IY"5*B+%&!,7@[>,`")8FZ'NWF<[E7K+U`(JI"
MY(U4ME3")">H'3ONI.Q+9_$P<X"U9W;E[N'5,&BD=,D4F,_G`ET(-D9P-8'A
M`,2T9-10:0R"6EQ\:4N(9++.&C9=RUW9.%4$5%V:BJ*ZC1?=/799JHLVW4;J
M[MU<[H[JH*;HJ;)YW2WV3VUVSV>.5Q=2_P#'3]4[_3WUJ_Y'J#Y8[QQQQQQQ
MQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQSX4_P<?\`
M;3_\37E='I2?XET;_P!/'=;_`)W>Q?+&N.839=>1.W*ZGE5SP4@=A%E0V3P&
M8!76B:C8O%Y@$?1X\-735T43W2>BR+I#?7=/?7]/C.==O'CD37OI]4@I075'
MKD))SR,P#IU.Z#L>K7`8R%6D1.3]=5-7D*=3DJ>C9M.1Z&"^%3LV639C2DE+
MN7;M0FTRZ<:J8H1]-.E3%(7]0[Z=W&K%NPO9W/;T\<;2&&,I;"[LQ<,/O9L9
MK\DT@"8MD&8V3!8\89@90$ES35N@Z&.=W3%UNCKX<B]+VGI!;Q.VMK6O42N5
M[<TUWCWA8J00#2)H=BJ=J)"D<RI#8A6Q"3J![#@`X*RL"*.Y$[`K/A*1&)-(
MDN]?95DO<O5Z'6U8577./D4JJ^\*;93$%!+7@6X'[=3A-AH#$YY6TH"RL%)H
ME-*]E;H!&C+T!(0+IP)DD8C\HBA2.R(8F2WKC[:>GQ*ON[3^]"#K!LJW9?ZD
M?5?MGV9[`FY'4:%ENP=(%V2#F3.=98E&86LQ@<%"A(76%70R"N(Z*%L=FJ<;
MU<OS1HIO<AZ6M68?0B<P6[>PE0WW&)I?LWDW8FL)+7XZS+45[1D8X4O2.6`Q
MDU:RRNG<1EKR$5\M&Q@&"@7E7*US!G%9$XL[!?$.O1GOI;T=/XSW"BA"PKO'
M#.Z02E!%C98RR+O7D7<=?(W%HK6)F$D)!"#3]R_9AX:!0E#.QG=A`YY[AZG+
MA)1J7+-GGS#_`$NZ9B,M"V`E:5\%YZ`[K3/O<REI&3P9$DI<%DTWM1ED1YXT
M#UP,#*UK-8*Y)-G\91%M2()<DJG##T8',QC%G\Q'TM:0A;ZJ7XFQ;I56IHAW
M2*0S#\Q7BR>KWOG)BDPO50KHA6C;X_721EW1&#):Y;)1G&J+)UH;8:;-MX02
MWH)?=96;5T$HMIV)'UOUWZM4EUOZR7#";#Z)RT4S`UDHY?#W/8.&=HJ"DLIB
M$OB\I1!+XG/7*+&WDVAD>CZYMK]^!`S[+OTC38ZSCP)I*"3(S)6P86WD!<:/
MV$CBAM!@W2+D6`O=R\W&LGY'1R[:L-W;K9DW63;;.%\I95W]OCE<74O_`!T_
M5._T]]:O^1Z@^6.\<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<
M<<<<<<<<<<<<<<^%/\''_;3_`/$UY71Z4G^)=&_]/'=;_G=[%\L:XXY$7O8<
M[#QKJS9Y_JW'C4LN$/B'$!\;B:L71GQJ$M9]%U;=85?F;(N(@I;2]1ZS?6JT
M)*W<!G$_^[Z+UNXUWU04@-UN]1RH6\6;3QE==SWU`[;[B47U&C%9V-"`4(['
M=0+8LX,WBKRK>Q\-DPFM9DS1'S]DY-.39QE+94H*.Y4"$9?'1;%_MJJU?4DL
MR5]I>EY[KO7G86>Q0J<]5FDK.ZKQMU204U8UI]+R<0@^I]$U+9D&CGV:&E@V
M7;1%\XL9CH6'FQ.5H?N?=IMF4UZ3]4:C.QDVZ_P^GP\A/+7[25>7Z*8FC$(A
M\Y`U]8F\T8:&5*VD4D:2J9C*\D\#+0>Y2M=HREE6LM)1Y@24>,23LH+CU7?J
M&@I[U8C(2C4^S5I71:=.=S;D"HSHO10^\JZ@-)7)-JQD$RE1AMAG3B+D!9;X
M-`*:C@\?($SH]@,2-+OF4<ETHUU]TT]0$YFE*@EEAMNUEZW0/]*#TU>P,[B@
M!E6AF!V`5[.');%5+:CC%EEA+@<OWF3"3/NPDQG),!7,"JN%-)@Q"-!0(\9)
M;P">L'`9JA5(.L.NUVVM9EN73VWZ]`(3`I#1BPW\*?3H.9D%@,4+%DUJ1F$$
M8Q+(\'4D%=S5H0P!*C7#=L=5CLA51`+?$,]2>LHJ&LUJT;WW/[,*=L.X];1J
MK+:-50-D+<GUD6%+6A'(*>A^N(<+JN-K$`("KD)&6-RHD1EP1M*#VFKPD5";
MUIOU'JTO*VZPJ&(5_8@25V#3]>W.7B-EIQNL+9KN(V/')*<&E912LQ-C;%)Q
M^-&(PO7<\ED,%R4!%[&*"`&[E\/4(G!EBO'''*XNI?\`CI^J=_I[ZU?\CU!\
ML=XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
MY\*?X./^VG_XFO*Z/2D_Q+HW_IX[K?\`.[V+Y8UQQS55R5>I;D-3BK:=S2M"
M3*50B9!YI`%@*4E$F('+!$O&)))R@%)8\_$E70=,-)1!@&09&HV0+"54T?C<
M.48%3?TMH!8F;"G,DMNQ&W8FQ.P767LB0OF.!X`(*C)OU`W:(T2&'P)S&RT#
M>0^/B=3(LT/D(TX;D>DI-KO9$EAM&F\>Z,<]*F$P(Y!)M7W8&\8_8]=WKW/N
MV,S-\C5QU8>KWO-[2"\(BD'7K]F-W%-3FK:1P$P\U>2&-2%OG9\]/1E=2)X]
MECZ5U)!BG5P>$E,O:5=U`>U"?I"N7HZ%E7<,F%.,S39I)0-H.8[I9XE6TE3.
M7=]CVLBRTME5@D@4^SF9>6-Y'A,.](BN:M$4TE45^7=`);4D+[&5$YGZ#6J3
MQ^Q*0[16:ZN>QZRF@PW7KF)Y;B;170EE?RD#'P\DBRK34<Z='!KXJW?>([]&
M.G<U.\JD9>U],66>G/43I<)-N/P2D2(ZO.D]HO;<ILR^'K5FD!DQ8E(BI<#9
MX&2#",%L2!/UHF8B^B2KQ\\V-6'I85Y65M5[<K6[KHD,KKGM-VE[8L-#J=7?
M9QZ<=O8MF(VT`D2`FO!BN\4T&N2CB*-@"T?)@GS]/R0=CA[0;CSR/I30E@12
MG-7]A+SJ2[0_:SL)VPAMSQEO4YN014_VJ039WM5V8G,ZYD%>2FH)>T:BU&@&
M714Q)`1B/QH^QEFY,*W5WV@:]/6(2JY*&MB:VS9D]SURD40G%8LIFA!BTL!3
MB+U\9KHN69VTWBH^QV@.TF)QQ(+?A+4PE&)O)F0];1F&!?:D?*V$ZXQKKC7'
MTUQC&//SSXQCQCSSGCCE<74O_'3]4[_3WUJ_Y'J#Y8[QQQQQQQQQQQQQQQQQ
MQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQSX4_P`''_;3_P#$UY3=
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M]4^1:Z+S6-6%VQ]4*5Q`E@N`(7]UR3:/\,R##WJC7I%0B+C7X4HT8O=/=JXS
GKY5;)XW\>UIG;7/GEHW'''''''''''''''''''''''''''''/__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>18
<FILENAME>g583081.jpg
<DESCRIPTION>G583081.JPG
<TEXT>
begin 644 g583081.jpg
M_]C_X``02D9)1@`!`0$!A0&%``#__@!`1$E32S$P.#I;,3-:1$DQ+C$S6D1)
M,38W,#$N3U544%5473(V.#8W7S%?1DE.7U-44E5#5%]+7T]21RY%4%/_VP!#
M``$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0'_P``+"`%K`FH!`1$`_\0`'P`!``("`@,!
M`0````````````@)!@<!!0(#!`H+_\0`7!```0,%``$!!`,("PX$`P0+!00&
M!P`!`@,("1$2$Q0A%3%1%A@905F!D=@7(C(Y87%YEYBQN",V4UAR<W>2E*&S
MM]'7"B23\%+2TR4G*'@F*3,T-SA':(C!\?_:``@!`0``/P#]_%*XO>UK7O>]
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M\QDV]P]`JF^K4:T2E%;8K:4;NF-FGECEBN(;,M&D)H3WLO4HK:K"KZ1^G#VU
M_P"'A\+[3(8DQ7`,.JE..6G+W;F(R0]1][Z-GO<+7$O%]G15\;Y?+=CDBRP4
M:O32HQVZ;6UUM#\!_P"(O\G7R9_-"WO_`*=?(N\&?B%(HU"'?X[N5M>E5KOJ
MV9H8O&#%>.-\L<O5.0&[$B])L]<;>FY(IT;K8^UC;9;'+*U]8H?_``\'A[!+
M5I=G<?((\<*W0O3XN:-IEZ'8+B0:B7M?&:Q!=KRV.4BM&VV7N\DB/W2*Z>UD
M>2;))ZZ*V1CXI$K=RUY1+Y"/*!#^I-[NZ(>+ZUSET*FOKQ1VQP^A>F&!-Z+?
MIODDOGEIW6RPO92H3V]$?N$NGXOO5_*O'6W>1B_RA,>8]277[(UJ=B\0QH>P
M58:\\LM6A:_N7'IS:;3[,M?N].\CDV"NS+'7;;9'?=EEE?C[X;RX0U@CO,W`
M<&].A/;W["CHX7ZAU!'FB1)KX>TIM"/7#4BA"JWJM>6>W0,!3N>5X7U736RW
M[-FK._<-CS*<5Z3XED=%%Y/X/D<UGG@.8W>,5NCF?62SPV^Y]AO2D[-2J!'E
MEEM_:X?<7+;@MLM?'/#UPO[56B!S8=PBAIT"4'&@AA&F(B3`E<E)"BB!9JQW
MI%HTDBV[T2](JTYX[DZE)OW:-VK+'9KV9896O?M*4I2E*4I2E+WM:WK>]K6M
M]=[_`"M;\]:6G'HZ`>9FAD_^AYIBV#V5[[-+J=$KOMM,$*K6XZ_>V'CESF)#
MM90EMP^>@:,^,7J,KVPT)MF66-KUYZ_+>VI:PQPX>Y`[.[@3K]6^P61X_B/1
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MMB;;LTY[3_`@>(O\G7R9_-`WO_IU\RSP:^(9<D4HMWCNY5UZ56G/1LS1Q:*'
M*\,-EO3+).O'YI5R/=:W[A0D4Z%&N_SU[<+_`#K6"/\`\._X=PY-4>:O&H5B
M.-3@OPU../)=Z"81T98GKV:5N(0FU99&;PFO?HV[4V2<9=,F^#V;$7N?A,\]
M-]BZO$Z);.*?7$7?GD]AE.AUIM:`<#Z](2J$28)=")/JPQ!=*,J;AFW3CB@T
M7^'W:<]%L;[DN&&"#?M1Y_-?D[REQZHVD(M\IC;EA.CU>R,:?8G$<3._2KQU
MWM?0G(/OF1T\R./5LRQM;3O)9!2F[9KQMLNDR4WSW[/7:?/+W#>I)G+W"/._
M4X;+?N^D7#Q'T^H9;Z2($V.K+);C"G6[1C\$IVJ<-FS+2*$]"%%>O-/GIMGO
MRW:,LNT;_F5XW&FQ;/Z:V2_P(_#._:G&-;N^)G)SR'*;-.=]6S$!,Q7Z9YV=
M=_>6],/N7F`MGMP]=F&N^&.=\+0V^Y&^[`@IRM<X(<;=.H4Q,(?`DD1@(8'+
M,+;4B\47&[U0XDC5:KVV)U2)3OT;M=[9Z]F6-[7KNJ4I2E*4I7C?/&WK;U];
MVM:]\<;7RRM:_P!5_9QM?+T_-4/^@/()Q!RNHWCNA^L(`B-P:,+;,&>\I2:2
M!^KK99888X"8^TDU3X,;LL]F&."<6WEBC.^5K8Z[^M15P\NK#?FW3AR_QQY#
M>LD2['.PQW1SRBZ(DC%;GA?/"VU/*/693GAGKD/O<+XW6AUI;7EK_NR?!1AE
MK]Y[=4^^7R3$RR\?>/?FOGW7A\/=$NZR[<W'W%LP49[<-F6]B<L0G+(/7M08
M8ZU&U+E+6JRK'99/I5Z]ML\]?S[(5\S,C(]EGAW!Q'S]MSPRQP30+Q!($JE$
MN66.SV<];KGKI7`2HW:=GN\[;=L<8:=V%_8NDUY:_>J/IT>/3K9T:[82WYA^
MYS&'O+;,D,.1[Q5`(Z^%EFM1\-CO;O,[G=&M/EJTZM&>>#H^,_;*/=J]:93L
M1UY7\1<;&TF]#)G8ODQEY*J0K$"Q.\>\IG;R)9I*9Y?3'Q`F)549A[ZBJ3.X
MU2/UH-8G0/\`5..'H;Y[-F>OC_\`X>;P^O#>C7/?C]$_"J%#@-3G'W-G2#R/
MV'ZE"A3I1[3;AF%>2WI]&U5ORTZMJC+#5;9ECA:UJRIL^`_PZM/3CH%>/?G5
M5KQ2:45KN9M%7IO]SHR]O#/)2\3IY1FKRO\`+<ORV77*<?VBA3MPM[-95^!`
M\1?Y.ODS^:%O?_3I^`_\1?Y.ODS^:%O?_3K7KH_\/EX9WALV["_C]@Y)?:IP
M5Y6:V#U8V%MNO3[C''7K93P`:M*6^%[Y9HM.&M'MW>BG9HS46MMH`\!/BU8:
M/'1$<"/2#5VDKH/HCD)=+]0QD:0N!)9/BB.:5C;F-/JVDT-DVGX-0M3*[)\M
M>.6&'M8XWMF2CQ0"D.>5V#Y`O*7&6C'8KS2H@O:3B?R!)@MT7U[]&M'.;3EC
M7NUV4W^D-&U9DI6IE5[ZTJO0ARR1W^1=P?WNWO8U1;YD>D_@M.7M:1\_<R<4
MS<FV?W5%LO@N(-F&X4<RG#;AI6)]ONCR7.VE9A\-FEVI\]RIO8_FSCW'7I:\
M\^-_I!#HM;++5)7/?0O,3D7VPUZ<?<[7+&TSSPVT>W;?'9EDIU1]GIQW7RSQ
M1XZ-VM,@^I1UKY-8S663R[XLTTI!$6&C,B[N*NQHHD[9NUYZ,=V_:BCWI9M<
MGNK9FGVY_"8HTA`EN49Z]F_7G;3EKO?XM?F>Y39]L<.G6%UKQ"HRVY:+*>MN
M49CC]D8[=?L^_P#6:&B`D."KZ-'M6]M;:3+(LK98WUJ,K96]9^0GT]SATF'W
M.#GF>X:G0(FQQR5E(@DUF2.C17RO;'W:[8T#1?)!NQRRMALTK<$^W7L_:9X8
MYV]*WE;+&][VM>U[V^NUKV];?P7M]=K_`,%ZYI2E*BEU;VISSQFU0CBF]Y[T
M!EZE,VY%L8-`":D"9IE>'IJMI9L/Q,ST99[R$X]NY0DU;TX$3N'AL5>A:XR0
M49?-=A!Q%I\IO<6.!%820^*;G,ILPR2@T(YF3AY"7JWLU&VV6XN7)V</.'*Z
M@T)VI]ND8A"]"R`"WWWZUA!K&-..M-(:`/%QQ?SV[[2N,B[?+4_[]*3$MTOT
MHZG)T=T.54),->%E.$J2\1=)QL:MU].O9F&8>+1;FC9CZ(0R75;'7C81;#&W
MI\O6]O7TO?URO;U^NUKY>M[6_@M>UK?BM7E2E*4I2E+VM>WI>UKVO]=K_.U_
MS5CSH:+6>X$DU7DW`+L;!E+DB+MQS!QQ\`41YW]<TA$*73+!BY-L]+>WI5)=
MNO.UK6RQO:U58&_$5%L9DBCV\?$O2OXY9$7+%A?8&@8EK<?+3E-*_<XY;)"X
MQD'<7@DF/VZ]5]:I1'(F)WE?'9LS'O,=OR][6/;N]^F.*U.L1Y0(6`I(CU;_
M`(5+Y`.3Q3R=_.:+1L59Z$*OHN'"6#@F#EC+/1=!B1=>]?*T,)R"S;=9([>1
MZ?9PMO:+O:C^;(%ZL9S-]Y,]TB4)YLNMJF1KB;;B!D]&"H:9`G0ZE8*,"2";
M9K4(B(Y6I1JM.>.S1NSPO:]9%2E*4I2E1@ZF['YYXT90QZSX_D[8LYR^#7CQ
MFB!9=X2?++U47U8(&)$<8-1$7?$DO)?NWI]>H&U`I':DU[L5I;:-&8;EVJ!R
M,EY3.X[XKQ&"'Q4\W$=NO)#N<(%HS9Y"GV`R4Z\[J\V\1VFN=N4=AD1NSUZ$
MAY-T+(@93:^1$0U"FJVC3ON"/%=QE!;RU2WNCLI._0=]"76NZ7ZI=[AZ4GQ7
MO2^S["D:_976.#[A=65\;7^AHQ%,=NIKWRP0ATNF_NJL2MAA;T_:VOZ7]<?7
M]M?'_)OEZWQM]EK>EK?BM:O.E*4I2E*7M:_RO;UM]EZZ1P-IO.P*1;;H!!W&
MW2Z78A+`3PQ"9"$T6VWIM2$!!-.J'+4VVWRV:%*;;KSM\LL;VJK!Q^(B&F(8
M,2!P7)LK>.24R2M68W7YJ,Z=O.SF.[M/NM6^2>-WO8[SHZD%[WODNVMIH1^\
M=V%[V0/47OMKWX8LI[EZPXAV9HO)A#`-R0>BSVX8^0#CYNO-Q1$`'8;MF"<G
MTUSFOV.F7.=$^"/5JW&7VUSDSQ(D5JO;)N-HHL;VU6S,-_,B46<VY"C9WME_
M,1XB$;@:;S9AT8YFJY@9#7;<A,`'`%5+11<8KU7MFG7(%6]/MMZ^SL];96ME
MM*4I2HO=.]H\P<<-L2Y>C9@;$=8.5;B*939W6)N.1Y&-;-VA/K`1?%C10'Y(
MDP_GN4I\+!F*UCR_7;;CMWZ=.GVMN,']?5WDBZEO;7R#Q@+YAC=9;7DEZ'\D
M"HPUG(O2V4YIU:ME<512442VN]XF]E<+SFF28(VY8YZ,E0+;:^U-C]6OQ;/:
M8]>"GNSOSKOJ"RG!7I+1=&+TSXDYO4(U?I_]FXQGS"K:LB.`9IU^TGQ3R5-S
M_P!BC3>]U>S;MSSSRZCHF-^<_#[R:^^E>.N!N=MVN(L@3@E!(W!:",WMJB[<
M;0"']**Z2A4;R,^7F0C(&2W/QQHG"IW$2[.;[B^#.:RB="D62_DGIDNU)$;S
M6;::'2#%1\XR'T/+4LO>4RK1:,7-T/H2(8O*[R.AE.($39LF.#[I=^YS+7*`
MR;3,CYX.32@<&[0C&;<;4>13DN.6,S5<Z=/\SMB1B,/Q_)[F;#-E9$Y$*A,]
M6`6?*$K'R1<G&/5SLYU#VN["L:DEC7&&'DWA>I:G#ZEBBR.V61WW_P`@R+$X
M:8TD]QBV&J0A=CS^:T/5[M=M&&+%;_LGT!':_42TO?!L`])K?M:Y(ZM47;Z)
MT("03,MDL0[\,?D[@ZD<O*,:1N_VHR&M(&U_=&<Z\_[D+H>Q%BC`WWQ<KMF(
M`SSR-#6H\<E21J''8,-%A.8Y)](A$Z_%(62+,$^&_P`VYU>/:A1RH.E'3SA%
MHS&2F3$D<NAN3TE<`Y_24[6Q9RJHTR%NIL,@J%D00D4"B"9N)K'LCC;.C3R9
M0D]V10(>[:'>/&3\)-@0TNGH0-$GFUGN]&PB32*W<%!AMQGL):Y%(I<%*Q/Z
M78=@QG>\D.^^@FVD@8NN,(4:(8N4:-/O[R4\TDH`ZAE#EZ;(%Z/?_.W,CYZ2
MO'S0E<*5Q*-H"PSSR;!(HI:_T\41-%S[0V(S4Y1PT@ETJE&"6^6M;EAJK<+-
M["AO<Q^?RDHR)'\;OF=H[B=XB&B9<B9!>Q*5Q@C%NB]&\CLPLFUN%V$=S09F
M9C>BVNUPZ/H$%<F<ML0X[+%]&0,;3E%8>88X*)@<KZH'-;A[N#+,!$V[2"<3
MA$).^A5G\#)EBBQ$.S8ZJVIR:UJU&EVCL-RM/AMZ$3UES8<(OL.*FV.%A:-`
MPYR/49K<Z#$@%;1DJM`!7-=)MSU[R3:-N$<0;@1PAM9(,8<:%6WQBY69T9H;
M9.S9G8TPQR:?\%O%ER2B1;78#1K!YS/8&3/=H[U@PRT71N0)5A=M&`1]'L#.
MD0M$6<+=5Z]^E8%^+U62YUJ@O)M(CAXP\?G622"V4G7]V3!S1&>,?*)8/9I(
MN&]/&,A#:<&3NU1E;<]%S2OCBI-A;-=J)RGO,TX\REOHMO4V/:>B8572;OA,
M7*##53!CK+X)(]VN1(G/+B`$6A,G!21-:V[-<4;HDL',.@0+Q(&VT$*CC!@8
ME0+4F[?7M'_E$!EO&BR.W)'T15'$FR)!4LRJT8F/O\D.;1DY%VAU*"05,Y=@
M-<Y/N90XA!>MPO#[E\DP.YL=M(ID.1%`GV2<A'MZ''[%O*9N2W['4;RQTU#,
M%R4+B]<Z4NL@G.3<S$!]OMQ%K(;,%6-SAVYQMLC$O=&M>1(&O&@=1,JC5I-6
M\&_/T&/"1C<-MV4&*:DH$F.;RC#0N!#N/72-H@D".W8F%^\Q^E]+2,DAP1Y?
M1?TABTS!(>(<UA9%<E2[8SSAXL?'WT,:TNZ1N6(N32*E466(9>C0:NA";1RS
M7EELT*1\SPJ0C^3DFU/NSRW:;8NG+5CMRSSOJR]YG;+0VW@_MF!+8K^+?)'*
MA40@NL5IX,\@S:1]B1D0SSOE=$&0S`B71GU6TT*>V5M.I>0EB2+IM-K>HA9[
M&O##Y=GDCG;F>^Q#Y'N*I(AUK#,<[+NK>5MAWK_E#-&@28[5[D=VIG-<3TA"
M8S/=>][WD.$EK9%ZK9_%OY1JU75;+.(DF:)9\80*4H2DIC2S'#GTY;P#YCIT
MAGBU2V.O+V-^M&<`K%R#8I2;O:3K466[!:A5:]J5:G3J-6S5CLNE5_\`</8[
MB@.\=0;SXRA,T=L]&K"8?GV'RZXD-:(P6"V(+/V=YO/A]&]:SH$AX>23%GB3
MTWT''>54!HZ8_OW:XTF:'X^0^`&M`;D*]!3.[5/3?<,@"\T$G]5/L/J2'=0I
M4IW+LHR@]I[%A05`,%!MN_X4)&+#VI-1+2F3%GX4=SFOM*VL+M:UK6M:UK6M
M\K6M;TM:WV6M;ZJYI2E*4I2E*4I7H4I4RS1N2J]&E2F4:MNC?HWZ\-VG?HW8
M7U[M&[5LQRU[=.[7EEKW:MF.6O;KRRPV8Y897QO29*O-4I^,PRYNH?'DT5CI
MYLS5*G;U+XV6TDWY@"@G:OW$WG.O#HC6LP'Q5.H1!L4F7'!0-%HBV>AH]0/#
M`FM*&P4;+6TPI-$8=$Q/'\XPN\1,@19*+7&/%CO`)GNN@-@2VGWJ91;0JU)U
MP]9HSQVHB@@FE2%@I5*M$%D:,DB5)M6T:4I2E*@9W%V00YL%Q_%T.,E--/8_
M1I4HT>8X*V$58E`XBH;4A4/.3))/($JW>RX,AL.23NN4WELTX[,$5QS4`9;G
M8YP>B^-<D\`AH<>*[IGHAX7Z=[K>J!6D>G1SJ%[4B-C`".S;N_8?YG8JU>5&
M0%"(/6HV(=#=:F>ERO?9CL<4GN)T'55O@K%[6M:WI:UK6M]5K6]+6_-:N:@"
MT>\&QNZ![&B.6D4>0HPN1W+!;063"])A%CA#X<$_,,7(#.'ZQ+A;#6'-=1K0
M&1P/8G4.XXJ*N53K'ADZK3>RG*0X;J3FIPAQCA!=`PJ7!&I*7PR',#I19"P8
M5EX6IVHR,6#5N@YFG7R*B4Z-VA2R4FS<Y=>>K9ZC+XXWRKZWGTISU'0M:<?D
MX1,SPHQR$V>5+N206J&&"72$S0ZS@`LO7E-"445!YDQF!I&0VIM@?(D/L3LE
MNN2>^Z.4.L^;H:22/OD>:HX;"N)8Y<$LOX&0=H/6Y`#`:X-.XC3C4-^ZVQ78
MC1B%PM7G[A+LV>P:!?M+6-BKK/E;O7W-;B9\/O:TS1T#$3N#;YV+]+D>C7#$
M7/J<FT<B'CT*;>8RU[RV!TJA:JI"F4*+ZG=NP;.&S:9SU)-F5@NCN?G3(Y"'
M6S.,0N&6A.UT:"D8!))9Q:01VYD?<[]V>E<SD!E0X4FYI?=<U;.;2H'Z]@*[
MD!8E,4F11';;7!)OE6)PV_\`HY)(7/J?5#7+W7/.'*$E26UI<L=>.*OJ)JP^
M?CR1Q$4+XS!6+-L,1G6/0;Z`CGZK=@WWK@+MD8[$07#4OGV/Z^Y4+J'8B#](
MP4:7L-'M(/0<$E=CF2361:'DOCO8J.CAAM4N&:;/\619&.:M/JOF[D2IMX8Y
M&=&U%CMAIOYHR.RP[^C%U-.0&HZ1.LNSW2V'&/.M%RHU5L\4"X8Y`695"M%J
M-^/N\EXZZ['#'';?#5NVZKZ;U2,GRC2,_P"'.+95`\TM'4J[3ZME3EAJ-HMT
M"32)V45C-/T$IL\W&?1P.2S7BCNKG!Z[,1`H#D0%X%FO;/>NVJ2^L/V\=>5T
M),H^#V)&<-EMG3\SS1U!!BJ''8\$@QI1J=XN<6]L=+/MT2R!;[C1G8N:);8V
MT++.,]JDSLB%7VSA&MO-G?F[-[1EA`G5NV29NG+EZ3&:CC?H&!0\=/<T"#N;
M8[V8_(EEK4>U,"4H\<:X"TS*P2I/-%WLUV`#C8%&F<[VZH1[,S($LVG*;F/7
MKVZM>[#+7MPQSPSQRPRQRM;*V6&=O9SQO:]KVOCGCZXYXWM?'/&]\<K7QO>U
MZ69?Y0E3Q\N-U=7^-9I;C$:*U*YX=1>-P%[::/I@2^_UKG1+G)0:ZO4&A/J$
M>(3J=^YEMM"CB[H#%/@&/-T7(6T2ZU-I'/T]Q7U!#,>3["3J2O6+I0;^AQM)
MQ)4ZM%DI29[MZ):@)"R.E,3!GP19&0`N5NETJ0RW'",)@RZ1,10*=.&XJ4KB
M][8V];W]+?*WY[W]+6M]M[WO:UK6^=[WM:WSO5.+XZ\Z3[8D-WP)XS=[59T:
M,(R:9<[^1Z0VW]W$8LIWBU&T48C'DN.=JA`+Z1F5MD-:G%UO,T32P+%ZX?D*
M,K'\Y5%FLGD]RUXYN;>67"0E,2'<,O\`2[H0V2R%UO/Y]1*_2;[RV:O=K-"F
M1#^J]V2V-^-L->B.(K&L.-1:?2F3C&DFUZ,;WGA:UL?JM:WK?UOZ6]/6_P!M
M_MO_``W^=<UC[K:S>?+8<3+=PA"X&J[@1=L.8"3U?$#3;><`Y2(-B"&B][6W
MHB8M8K0JM5[VMLT;\\;_`%U5=S'P%*T"\,3ESNZI"$2K+;IC*2(!C)\&5"I!
MH300QVH\8EY$93J*ZAFY3CO:<:KQ91^E4X@FHS>CE>Q!-@;RVZ=RO3D#>.KH
M5DD'*B>F43)!SB\-/-7CEP<81W'CA49+,("YH1N5T8"U+$"Y[XR<>^51NX2M
MUF4[ESR;6=RK4274(\DT8)=\5G;+L@O7&@1+SUL<CT\([?\`&2[U.R6'KB!9
MTL14X%1-I/@4N40\C).UAOX:55Z2.608`:91--KUY#70@SLLSM5\@/-LP]/\
M]PS'+.;$5F'.UND^1)LD)MOIYE!["7MKGV9&/+KX:(TQ:.'*L<6QTZFBI:0#
MZ998@<KQ)ZR9[2-3:MP[9H&7^+IPD>T=H(]@WFB!6>RN^^/^P"S7:,A&M^YW
M*(8-;5\PN<A@)B1OMD8[G"W6[&C59+;&B;HRJUOFG4[GB*6$=*2^IV;P)/<5
MRS'4U.U9"XMD1EY/O(+WL^U>;_*),D<+=,P',$:-5+;>O8B(9L?+9423K,/=
M*5(C&P."-Y7<:\"^Y5HTZ(.<%\.RKU3XY^4Y`;`>,F#B*\)G07%T7+=3MW[]
MLHO;K<6R<<7'(2@,T]MV@QXZ5L"Q8@)LD<3H4/1[.K;K29X`-2MTRQ=?BVZ3
M-QQTO`R@E&9EA=R<O\40T_'HK=9C`[S"_N86$*BUYG&*#R;&K.2FR3!C$TE1
M"J3F6:4`R]J6?=*`'AS>]P(=\1A#+.F?R"=%/Z"Y=2'><T0[26G)NL[;J5I&
MYY(&DWWQS(M<"!R8:\QZ)^-N`+86EAFI]&!,2_P$.O@OOU$E:6^^+;:\6G4V
M?+X",S,9<C`.A^86GSFQH@GY'),KN$EU2`YIG"-Y90M64%:AE#G)SG%$QAHR
M&IY!8C-72/L%2N=R?0C9F+98Q*Z+@N6HA<T30U(:I1`T+PM)4I/%XRFX(RBA
MZ&74%7/0XWPP),0D&8SS3!%9!?Q[2WAOW72%N9*2VE+8>'2(#NEO:BI>K-C>
M*B5&%Q7XR8?$19S$DZ'XXGGDF1IED(,:V"D[S;7.+@VEW=O:#^T1#J>1X_(.
MC=?6A'.D*W$ME&U5B=-8ZL<-RK:K`\><^B79#4?O$@REL:<T^1_H+R","<!3
MJ(9RG(`29M_0+G%0NY&PI;NBX%Q)W3T*;:C_`'9FY3;;<<:,X/F.3X&G-N#L
MV-$.^,#M;GV+8B;@;3!\FFU/C?G_`,?4J-8C*#D;;58!E]RJ[)68TUQ^XU47
MF5SL"'-;DLT939JAK,\WMN%9Y8>N/IV_9);=_'G!787*SV'M8TTN5IAB:5(Y
M\?!*070ZW,Y%QWGF9N*('BF#W!KCEED8MRPF!N./7$@&1(8<2ITQ(6BR3B[@
M<:T8J]VFV$/;"7`/2$,)^2QSD41<82>-9Q=LR'$DJ*'LY-)CI)//+3E0%'#7
MDQ`A9*PM&"7%!)ES,^$].B1]I1[,%L.%F)G+K++-(:Y6#7:_WY#L8O.5&%IB
MZ2'0QFT<?,>I3FQRHV>Z2(M.H-`4)Y0+!K2J!`NSVZT*TD#"%=R.^BY4,))6
M5#TVU:\;XXY7];V^=OJO;UME:WKZ^GK;TOZ>MK>MO7TO^.JM9H\7['R?1WHC
MB!^$>#>KRZW27<$@1$"2+(;FQ5HV[]^\1T_S5FK%1E,@XQ=6LQ6O!.E:4R"E
M._63;\F(5"6R??WG*O<KX<,K9\<=M1P#YY[5'`R[B;(YL$RQN`NJ&*V[Z\3D
MK<JOH\F2DC0\5JVIE[\A]W8II:B?6O3?3R(Z!]AU[K,*_-9"'4@YKP!WEYZ%
M;+PF_9)K\*1SST!6OO6W<F]PESS*.F$68V&@=T@GR(`J9`EO3)<_.;6*2K!K
MM6.8"G7F=GT`)4ZKOPDUO%OD)*4S\UXIB=@,$4T%6F2P4YX/1N*#CA6$4I1H
MN=*Y([B\JS'`)T[&80%:=R8RF=:-]!L!:C21UYH-V8#NB8#+H&V4&37%"X<\
MFNZ'NTEB60VEN3N9G,>_H]G2`V8%[V,-]FY>N+M+C_B$+9SM?6=WC\[7QMBA
MCL3DMOJ1*,YTYS\)5'T<=$0:<A,<>)=I@=+ZKX&*"(W#:XL;K!\EK/\`RC!7
M:/;2.]1?'6!W+[Y8^UHOKOO9F<SOOG2,0NV.7[(<U=5<_P#/#D8:J44+>?K%
M;TYEUH]-(*%FI0YTHYLQ&A#<AF!5[&SIV"-_TW<O=)HP3JY`+^LN8!&]\IC/
M0T)AE$8IQJR1-)B464*R9",P>WM44M<]R!I-B'0DG4E5-9`M67U)5;E2*F_H
MVYF$V]#KP"?NPV/&/&4]]F1&J9/0S+@R+9?D_:F94D"/N?=^F#4CC42$UA3]
M`#7J)1N,4L:3B;FW1L'K=2!U#MP0S<;GI6;TFD8P\D[$53(_8(Z4$,SFI[M&
M'N>YX#.`O+X-Q12\8]Z0-G62R48]^GV[&J@-(:21VR79B]AGVVB5%MVX&79Q
M%S(2BG`7+(-U9S(XU$:I6]T'"Y[=,NA.IB7Z&DUFE-4F:E=S.**[#4(C&].Z
M\UV3;<=A^D)M6;B'W.G[HM:CZ%)_"ZU[&ZH,\MAH))`8Z%R4JF_IV$>9DR,@
M^][%T-TM.+HLU@KM4+4[+>V1(6"4X[5A<9J1HUJA)C:P]1M4Y6TWB%(_E3,1
M!('1*!_\])\8AYBZZYLY-DF1FE+OW0/'Z0ZE:L/'8[D0)%)",F_],-L.5G:/
M0+W`CWXI=H^VT\8;0MUHPV.E=L6_?\@O-A=(3Q!<`(91Y_YE?LO1^7,J).^Y
MJ2YG7\[D2`.=RD%M#%D&VF7$M)R`'6TV/O>TA-']E1RM4M@@S:S95-YUG-Y2
MGV`@%<1+^UN>F=CT4`)0RWYNBUEH''L8R^5VVZQ`HZV!`,NK;CES$.1QH#"%
M,('%`=[7-;]0DEF.SON4Z([]!>5Z(X?\=S)\@[(9YF7FY*#:8!V.(V&F4K7/
MEU3PVI,G$.<!=:,+8-37%8[4YR,E*MX0BI`7:!<988H+;4:/;/,G/41-5VMN
M-'Y*48-&57(AOO0,`B_`B4T15I0BYP$TP!&8V!BAC6D#B31K3E86D7*6\'(G
M<AJ=`A79I=;;^Z^*DX<FX=O6_->``,S0LBE3F4WQM]#CV`XS6UN`7PK)V<ET
M>EH%S^C<&'N2^[Z'4D]>:/6LONM[-](C_(W$(OLZ7>4Y6=\,1.-;<?\`*+N@
MY\NJ;&R-7=!&>G%<SH4C3:3</)F^FW'`RR)]6H0.:QQZJ',F<0Y=KS0;%&@=
M4L#G2//K8=QIA.6;8H;KT;C;//`\UST@-4,<#M5JH4)1TN$B/)%4N](':XLF
M+)N5?NQP3M\:4&$#&:)&01[]V+C.Q>2SZ)"0"=,0*:&DW6G8B(B&EMB%4&YZ
MJQ;7-HVK9<@.J$NMPJ13W91%**V;<%NY,\&ILU:LLG$&Q6P(X[&:^5/(IV;Q
M,!QP1PM+S):7D1Y_:Z*]K"([*R<]W%%O5S"!)MF&OZ,;RJ8P39EX>"$VN$"D
M9</ZT^A!\9KT[+B:4I2E<97O;&_IZ6O]5O7ZO:O\L?7^#UO;^'[*I_\`'H%P
MZ&Z6[D\@KRQR)F2DZR7Q!S=CN6V)(F!S'R0\LHY=VAM9X>FA%LFOI1LR9)CL
MVI[J=A5`/8*-2LRU`$Z))<#2E?GVZIX`Z=F?;Y61S<9L?J!_9,J<#/"'5)Y_
MCT^C$/RWLAY'(N+Y1W!KMC>4&T4;EMS1T(,''8EJ*HTQK)O9_%VU[`<OCXFY
MVQYY+DR)"Q&?*TJ]S-7OCAQWJC&@TA;$P1%$_/"&*U3_`$B!"G4-OZ3DR!B`
MB0=0M27N0C*0BR5.24K59))JZSH#@Z?,7A"SL`1JR.L6>[.:YLYVZDA1[SP\
MH';*Q]]!2.W9B><T:R((::3OJ.G&\,7FU90C`D@S,K&.M:.\#J="MN7![<0D
M/QS])EGMT>S83T`HCAV9^=I]A1V--P/D<\H%=1%S\BAH*A*5(C9102Z9?YWE
MI$YD8MKS&D!.&\<O*(68/+$DCOD<FGW"\-<WCHZ^<44=!Q&X&K&+@0=L^.OE
MCD8T2W25D43<D2QSR`?K(6NY#M(MT$0D*/E**0;3$S][)'('./EYJW!KFXG%
M'\'\+LBXDYF?4&S!WH\I!:S8UZ)\ZH1S#%[Q2&!1]V$V-JYU@F%E29Y;-`A`
MM#.18XX?-NP@CT*R@Y9I=FE1\9@2N32Z]<P?PLGW=D]N=`]"PM';F'2=TY#4
M]<X&BQI$^5C841#SC%T(C7`0:BQ)I%--_C'(PS;N:!M'I-D`P]PIL]!P4;19
M:,(C:/']U*S((TDF?'K`62U&WE8Z/[F2QB&F)=&R:=H2G%_3R301_NF)GB19
M2/9-:C6FP::!;R.I8V4;ZC<2+S.7`D]9H7/GG[C`M&@.)G,"<TB<QCV@I=3S
M.\<P'(+-<W/AAQ/-[O*0#2=[.&0XM6R`]'<>7NS'8^',!>K%;Q=T),UX0:.'
MY*%A:OZ/?'ETJ@YM\9\(R!'+'+;.4N\YEZ/FC4-EK7K0$HX?5^M<6WI9))*)
M$DB[K2[.D&VO(BUEFPBT;6>?2:C2S4K%[ULV9-X>SB69N,NA./(]8((?R>U)
MXAEP<ZA+"HX;[V@_H]0U7,\5#"+71;VXWY0:<J,5LR&BL?T#1,BX%'R+=+L#
M%S"!PZ,VY\YOD=9V5T!W?-0P:RG7),/Q+S-$L4"3R5S+&5"L2NE^R$K<$A.(
M5KP;R^09#D21C*_($V]QL(RVJ!!(=+L<!,P7UB;$Z5Q>ULK7M?ZK_FO;[+VO
M]=KVO\[7M\[7^=OG5._,H?'E+RA]5<J-O3FBA3K&)$7D,BAM)]EM`-@2\.?R
M*&NP0H!%NQOFF&2`XW%#,P[1H[;8<C=SL?9/X1+M/>NVXFE*JF\G[U?SRU<U
M\#Q(Z3L?OKOJ4CL?/63&R0N'<L:<M12TM\F]1NAGF=7O5(E].1C)A</,DNG2
MWW`7!*29QI5B$B&0;,[%HFBB.8,C5CP_$;."L"-(W;(EGLAFMY-\*(;K<")<
M$@T8CPRSV;MON=6'MJ%BO<H7D5FQ01(JE2]4I4;<1Z6E5S0;`4NS$S6#KE1S
M1HPG$]`\;9.>S-WOM8WQ^XAK:@YS;`3ET"#!V^FPX,H6!E2'(HH2:5VQ&DV;
MEFB",Q>6.*8U\9`[R4-IA.20PKACY`YFU"Z,GH;KS5O738A@_HU-EB@O>C;A
M>(%#8D.\H$%(I59NHHX=JK4-7*$J="HG4DZ,AY&\&O$[QE2)VQ.#C$CEN,3?
MLC@E#GS(+6VO=>T<&&DKA#QCV`(<Z<19;``XB1;@,HX<1*<:A6[$O7M3K?EA
M]K2HYD](00[UP-A%Y4,I6S+C!.[A49-\PK;QZ0R&(P^ILD9`,\A6!3#JWY8`
MA91-M1+EVC?C[-^R!=.<[.=F+)$;<WQ6?8X]V)&"N=(9]-PD&1OM?<98>R%*
MM(0VXZ7@1^FPN0]K[+8G5^LR)VHT&_4219[_`("76/,`=CB9,*=#PFACDXIV
MI!#\42@RL&<OWI[(;JL=#EL:R#7Q1V)C;K]N:W#4/^D4'QVQ-=:FMMY7]8\O
M"W5DQB71<&H'G@[R$?[&HLE=B)W#I?@IKZWN396\1M.XKD[L0,[;K=2MN[].
MLNG;V>)?8DQ0Y6W7\?OL^7[Q4/G/#H:%ML,EMY5*-E71)C/41ZM4`-A'4X-*
M=W:"^P'GL;V8@O9PXV6^H'$24S+_``6L<LST^2[K'EX8[!3#(=%P8B>YQQ,A
MH!V@IEAAZG,4=<ECMIB.6TA"9'K$5)U_"M&TDRQ6I/DM="'&RH+I6Z<]6>?Q
MP5U)`_4F$N)(9?#?D#5#\H.Z%W]@@6CER5,\6AMU#CZ:VE.J5[%(7$KDO")R
MFY/J1E"`4YJ'_%IT-]^V.G)'D`9,\"^MT#X8^J`7=QE*KV:$L-A>?^Z43NCH
M6G+'65/;=.IVNU_CX[D]O@7,2#;-@721'EFLYV\1MM)"-^>?')WD8CN>^3!7
M74S#&]R6RCTA3.R1X.7)(`ZBHA/#,EOB-3"MZDE@]N!&Z=R4Q^X#AMO(E9U$
MTA*?=F3<BBR$AN2R37]7\L@W!I:9'HJ"1CH6N1F-74W54KL),:W.V2@^YPQ^
MW[C<CN*KZ>?H)/M,M`=LU8KG0-QQ7"-2U/LT[=D7IX\E<)Q9ERH[6:^X.D:"
MYYZB<?-4CSBDG%KHF7"I1LPQ+LL$RA<JC3E6PK4CE44[VRXAA]UM':W=QD>L
MW67WW8);2I7]5\SBV(Q90)=`PNBC:3DB)?'L@[I-9N+'>H\BI'H4))L.RQFX
M$T+5+RPI!I*(5^X?DO*C$5U.*L@CT[O0IZVY:1N9S,E3T;!FMZ,Q.Z53L9UI
M78NQUMS0Q\VSJ>>9IMZCNPR.R:FYZ,_0XM2E%KW!U#J;B==KT*#0_5OV,BE>
M,"4=[)='R*QUL5Z@2]S[I(2NL'N8FEN"<5.14[N=F"ZX+2(&61+?I$AM78)4
M-T:K%5MU9)]UL-9:NO\`E/<WA+LPZ2@O%MG7*Y&6'-;I68Z=`3>3.%;CKL:*
M+<H-ZOB'2V`J?>7<#>PQN7##-62\BC3I?9VY8+.W;4&Q+S,9Z2;THPH\V^3B
ME\29#2A;,39;K'F?%HLXB\-"%J2`BTN=&K&E$J'5IR/`A3CU(/C4NS8CW9;]
M.K9GL(]!`Y)Y5AGIY\W"Q@#DN"(QFIQZ39Y/I!LA._V&`>:P>N<93`7HNC"9
MF[C[DEFI#=3[C#;EHT;=UM-L0=7='*[67P`*SFJ.RJOIZ17/%4+;1#N;ZX6Z
M7FRVXXW"ZT.9300V)T&AM9MS8W#V>>.Y8+=Y9OM7</R/&42#9JSA#R#1MV+#
M[8=)TQ&,:38O#2J['C`*&5PKM=S'949S>_88W/-?H6(FNX]K05$69IW['20:
M809H5%="/;BGOGH][O;;V9R.F`*G2LZ<@)`VT+I5,=:;)2ZP1HU&\T;=R>*E
MJ*U2\^FUIW%J9^/W6Y!]U\%UVME@XL-&0;9@NRWVVW(WGDW0+O:)T.Z&HZ@H
MMR-ERMXDC,@'$WCB'04"G09@=N4#RH<N-5)B`PDA4;T:Y$HT*DV[;HVX9Y1+
M[KY""=CP618R<XICZ8F633R?S/-H?/8F=,#]$-)(MV1G*(!9HU;5&6D864?1
M;O!WQS0/%BE7&TR^A0/+;,,:`VM_XK#F=FMAN-#HF(I$;?0+4`B&W.C=;JH/
M]SX&8P0].+DX*"^)79J/H<6]4IM",]_GGN^"T:/>Y99^U>^3<X<O28__``=]
M.^)&.DS9-]$\KRO+G'#@1O)R:6RVUJ#*;$,^1\_2A/8&6$<FJ^8*?[5.#%VI
MH8YFR2M:.TB4NM(0V(K8^FN03RQH\ZO+EJ+XZ9+CA7M"-NQ9`@I/L!,EM2_]
M%QHZHB>S:P*B$F;1%O\`'-MT"'DR39!-J;1)^QPV=9H@$LOS=@B"J/QO=.L:
M78IG5H-YDFM;DZ&\H,G/Z(U,@Z@NJ$6]WXQF:)9^EM%=PHB$=.+:<L;Z'5+(
MANYH=6UY2<["#*NY1XSXLM'0CXF.RCG+3TB=6R(90OXSX>?'SP8&5VDU.M%9
M3'RA+3Q>;R-D#'W$IEJ%I%@#B;R@*33("*ZSB;NX9DAR0(@SA5R9='#79:Z1
MBC1TL"/7:PE'F)A?R:!)J<$I#A)Y)&&H@UUCRB$RT;`'`>W27$R(&K8[))#R
M.YFN*.D[3'(3X/(>K"Z="%?%9U"[.'I9YB=7/T&E9X8?,I+DF*>I7#T,\W:H
MG1GDY@CIZXFL&<Y01E-`;0<3=8&MQRFT,DY]>LEA7ITM-+O;VHBXR=WO<,*/
M:<N`NJ>?8B:C<%2'._-LO1.U`!,L-;38!.J7V.;:OQ9PR-0D$ND8#(.':3,*
MQ@TBI(:T>^Z%.J4JM=[PWZ2\=NMU\2Z(U@V`HH`3H^9*X0>\P9&S0K3L=J+E
M*:HCD0P)<TDK!;A)NQ*C9T?.5I1ZC6Z-HU+FYM>FZ)OCR)W/5UKFX?E4AVI*
MQ5PP5&,T<V3E,'.'1C2>CPFUYM/;R\^('8S":2\'E`0!/L;LD'T9:/$T@0F[
M`Y!"F;KO>3G3NM2B$CL-CER_I'AF>%S2Y\#L29Y=Z;)L'OCESJ)T+.E'_%XY
M4V8]@UT[#[J;3#5,&(V"DWKS>G;;,,'+C%.I26MGDM<P-#;##+)(,X7T;^R.
MV.A.A86CUPH9.Z;A:?\`FXT6-H7RN::R(.<8LA06?(-=2DU"FG(`ASL(T[6B
M<0:SB\.@/IMB4Z+,H[ZL<)B[FGK+DSG_`*%XY@EEL=^--YR)T8Z>79F<+\0M
MT)%;>ZD>[RDLJ*G5I+AQ1Y'B,*OR17=O![8^1.S5++71-E`351V55E]PV1R;
MD\U`/CQC7CZ"M>R1"D+Q)"\2M!>Z#2%G[G+JC58SDZ]SFB6S241AEA!,!(G+
MHD21;HU$%.@4CQU);8JM%:'0OB:GXO"WD,C:*'`SG(TYS-NH_P`5Q0YB^EJH
M>?%W4$@1Y-78J1S.K2(,IM+?/RLS%I".`S6&$-38#'7&$3>TA=*[8BW_`*.-
M)JW]E24Z9)@".IQA.3.EH<[58$FO6>G<F.\ZOJ,XKC1F*X\UP*GO@SWN_FV?
MC3)?#$E(#2)OC1C\-IG6K1H6UI!.Z+$4^+WJ-F1%Q@R33-BO:>Y]\>WDDYB>
MVY"^1RA"IDWK0VQ2$:J6TIW-M-N7-34G:1C!Y&%B84N%9N3+!$$.8Y$+[.F,
M^)SI-SQ1(L'.%GQ4MPZ)\9?CBXL)R@J=B$GC`,B<?EGYC*;YT#-@I,Y'#JV:
MG>)?<%KV=EDH*/MF!-+\1Q[HUZ#:3=^GQ^3[DZ^D60]8*BV5QO[(G<,W\T]2
M.R?WBI<097UXS90%"&`F@TD.5-UD2(U"$G[V`\Y,PWJ&P<B%O(EP]"2=:Y,$
M!>MP\#=1A8%X`:L-M8#%70G-?+<:PR7D5H2,T%,2J'*TKP\WGO'70$3N=K*0
M$\<U/L4PUKR0%03<234QG<!;*MDYM@F8)D0TE([482WYL)]>;9O94VN0N#HW
MYM>I/YZM>,P]*S!LZ'7-+5>V[/4N5-B*8]C1P$;VU:MXN[_0ZMWMW7X7M;W2
ME*4KQS_<WO\`/Y7QR]+?.]_8RMEZ6M]M_3TM52OB3+V:+1[$Y3.98HG[RMW[
MUJ-,"%&S1])*6#TA+;CZ]A5YWUZKX9[!;NCF=!^"9=DE1ZMA@$X1VC5L^B<]
M^VVRE*4J/75DWF>;^?)4G$#'!67"49M96Z=4;`#24$XWE@BW:->P$V5JX<21
M;7&O]_CH"#E6G3I)D,]*"ZM+GOPVVB1T%Y3H/A;Q]M#R#MT(X998,E-J-S\:
M,MJ*!X]SNG=(F:#;L'JE12V2!N?<&+S/FI&4$]66QK#V@XM2A'N))M"#?.Y3
M,$;`W,WH\=\AQPV92<(C850QRL?K>UN@AJ0BU94RH`!22@0X#PD4D&E5FXLG
M!:-=AHY624:$B=.IMHPO=UGRTF%EC:CI.`DX8`V0+T.EMTRQOJ&!6>ZC&UO-
MAUEE^;FQ2#6TXS^C>"`GEF[2*,&-.T8.5J5NO+1;1:CO:.&YV>^.3)(5Q_&H
MX3"?/<M1O)SMEML"$TM%^@'Y+["$1XV6T82",<G(/(Q&N4CDXUQ.`@Y]!A+D
MA%),=.-U$K"4S1"&>*B/"\IQP+?Z0"2=*MCDGRUT#P3-@.BTDBSC4-E65TFM
M((6/4IUQ$OL0XCT*)1H5JU&E-NU[<L52]0\U+4&)1'T)!ZL9FX132P(I9:C]
M0AS=1P`+=81LXK-+AS3W<!AK&PSE%AO>?2)``6&&$B;<.((U&[>GK:_U7]?K
MM^>U_2]OS7^5_P"&E*4I51(M?:7O-P<5M[5BO;W%OCU6,"02^C9EJP&ROVC-
MK&D)K,[?;WO_`)Q<.BKF^[M7I+:,<1J)Z-Q5NV;,BJ.VFW:E*I]\BY/5`O6/
MC4[<=%M::'(LE"7N6)O<VW/T21RU.W6VRV='DC&MBG+4.%-4;/T<1.T72XM^
M_1F"%OFRW?G<5B2RU7`XW];6O]7VV^5_2]OE>U_3UMZVOZVOZ7O;UM\JT#U.
MU7L^>>I:9L<A43@>[I9Q$"W!9(_H:X[<0)Y:DV.Y:>4(R&(U,DUY[%>S=@/6
M[\O<VU:$^>W9C?&EGHGQ13DY8W\FS2BP\U##,ZG9,L&N3H9=QC`4C@F>.R6^
M*1]A.-QN[Z.,)4;5,N9O8.AGH6L@)J1BB29G1I\<]#OUYZN_FSC/LR4NSH]E
MI+%D6!(J9/;7%G42=8WI%;+;,%VRP.9W+#\R[I'`C6=I)RA.S><Q!&``O!S.
MM2UK0@"8;:C]($-)7?<AH5J>,'LADPE!31"QMS>X7I%_'7EVA4R`D<Z)=T3N
M-_\`:LY-688+'NAM*FGM3O>.M"-G_14CH"X],G0&BR;5J%N$(G(+<]=2=%TN
M\L'2,M3FD:3;E"7?)ARWU1SHDE'JQG"5CG<,7\'`X4FEL/R7'!&0R$-#])!!
M$AAV\QB_W#LL[FX$N$.E1"]H-C.^71-R/(;R9<2.B$N:!$N09:/.O>49NY[E
M#KL(#9Y\OT/.@GHUQ=#-:78"$KXTF:('2[G.]6'+47B&L!^AD2;0UF>W3=H\
MU!5F\W;XS)QS7S\,:<<1&C:;T\BWB_Z/C\:F="5"*1PCQ(Q.6V4_@VP>2%F"
M`DNLU0*ZM,?-M80._%AG6(T.)S(%NP_EACV[Q^]?,-^KY9'1*PII`+.Q?)>\
M'+S];HDY"^;U@[O5TQ:YF>\KR&W1>U`D>$>[HSW@)#C<V@)AC[,D!W8!S1\@
MF3BRGI?7BWGM(DZ5!Q;%D)-5O/13X7],0MILO?8+;#;#>.Z3P;\EL".V&P*M
MP!0NP6-4-Z(KD]A0H:TW3['5N;%\MUK6D<'<^2USIO[$#R0A:.865>WNB>C8
MQ,M9T*S2XRR)T<B1YHD#F"KFZ#P:C@;6_+:!6HM!9QHR*A/L()2.A%EHMMB!
MH\=4NO&;X'G,HN"1L/V:9@C#M"*?IM*]T,]P.+Z$='4O,@4,L3HT`;0X&K)I
M;>WW1O,Z=&N\;R+*;+U9K$9!"141[;7!?9L>L/G(\NA]AS$1C27?)LCEGGU/
MTP=BD8_(Q\@?1:R=FJ^0TI-X"G29GXU373,60V&XP>8USM9S/>P147S2B1IO
MXY3\5D[+X\[DC2,XM@YJMN<(T\4$>PTV03RV(F0VD7#SN&.&3@FS6<`KG`(:
M6I&FV#(MN0P/F36A(CS<FMN[L\[ZML.+@WI'5,CCF/3'S)=04-YHV_Y#`C(U
MO@!J<+HAO+A'3R2L3#[&T*)J"Y4;K\TZ9'2A#I\>&6`$^K-$]4[GUZT..DP?
MBQZ-B76UAEH@AKI"+)GC7JB+9GYQ63X_87B6"MO1W84F=2M[!O:P;=RURS!K
M:!RBKB^2&)8").F5+.;;K:(=5I59"!$E$/`,BB&1Y%6R1B$*N2]`]@1!,T*D
MHHE_"*)8;4=,.-N7HW2GF#(Z1.F(Q5+\7'H$)2K&"$D=-MDD2V-L`Z3>6DDZ
M,\-^&>?^NBOBTD6"''HA69NJRL?RN@;.B:&NPU,?NY80D5R..+,9=$-AH)HK
M+R79D[6QMD$Z,9-XU+S4G).7(*0:JE1=9!^+_'MUB@EMH/YXL1J_18OS`#._
MB:MRS**?SWV1<N\>2'F<JD6D\6D(0$I-22IOUG5PP=B$:>M(&4_<LL3B!S5U
MK=9PWXWNX(%8#9!Z8^C"3M3MXE[DXN=K%M*PP*%B@M//34G=`QO*K9*F&[N0
MGV6[&T]@L>S$VAH4:Z4!1ELQ8.&.X$'PV)[!GMQQT0O\;W$D(ME2RL)[Y$V\
M#/\`.L-:ZE^,:2X:Y"*1P9>$5K'O@"MN0BGKBSUV;5<Y!J*AXYUI6N0+#-8]
M.I6)=/C>"^B$/1D<]6`&LQ0]B'D_?O9CR@XM(&`Q0PXR?7`I3C!=M&&@;>=;
M5-RJ=<V.F9WZ%%K\&X17FMH0>\52P9O/KXL@?$UUPJA*%HAONCN.G`#X[\O_
M`#N[Y"#O;,C9N//O&=&M+4+N-`E%A$)AT-D0A:F0R3M6K<)*HMIU8F")C^C'
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MDSC$LG#.Q;G_`*$AKJ2)F?.,!O\`!R5%SZ0[EK==0+)3AIW9HU6\<5%$QI!.
MC,-YR`"J58%<S5<"`:XVR<1+0QT8@))-Z?#<U*4I2E*4I2E*4JNCM_N-9!:]
MN<X\Y--).W>\W`U2J"X*U77[@3:!?2&L$OZ$Z(,"?3.-.;H^);\=[D<Q)4/)
M/<DFQ84>ZRSG7[/HW9W"_(X_CB#-+`7.U5*,M/AW.F8^C)O*C-`@_.4_R.NL
M6D.22PY/MWZQ:14IP1-UFMW%0IU-"/V\U&DF4[]`;'=LF32E*4I52O:T-3/!
M,Y@_)5R&R24G/]KL(=$_7?,K61Z<G/U7S8&<6;A$%(UT;%H\<LZ:Y]4DW,?B
M),4RMG(C9.NJ)=A!/O*MK'7/;G'I*&.L8D;$W0,]D#[CUU8K-20DF3+Q9(68
M%*=@\^U74VS*9"X&>]&P4TJ!#I9SF'#'$W2J;>A*#]&W"U\]Z4I2HZ]6MU\.
MR"GH`CAL;G>\B&QK_0P/2:!-[+?FA>3=*JU&1=QKD`M+BA0#U2NUMN^^S?MU
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MJ0R79@V/M\`KG6EUX3$'7%547+#)P%E$1N)%6@^7<>\R&0,?;K75X].FF%Q9
MP3'T*11IBWJN`^1D<3/%VL]QP,9AYTR8(;T&M)QQ]U='CW]^#G/G"8\X[^Z@
MP]V8B6SW&ZQE-HJQK#SI-:@R_2/J]Y;7A[VV%MGLVOLMK]?8]N]O7/V+WM:]
M\/;]J^-\K6ROCZ7R_;>M>RE*57SV]W%JYRP;$+0LSLI[[=G`<1T\Z\YA\U&>
M9/+0ITB5DLS`517MKC'G1@$%FA=(DDGU(Q)N2I5+;:>PJ[%2=#JRWA#D3/D6
M("P=WO&TL3_+[]=$X=.S?N%V$+):G!^J<%+A,I!E]N_($R6L,3B(_BYI8;LM
M#2CAK-P+C:ZG4MW;YLTI6`2I%D>3='#VB*66@$?L:R,VBS/>[-<26RP,XVV<
M2;$1,6NT^UALMK4)]F7NU"?9I6(E&.E:A4)EJ=.HU4[-B;IG\2ET<2]?JG[-
M_C[#ZL!4,=X)`QM\/[G=LI\]:=O19W8(;Z,D;VMAMH;ZP#4Z[$#=[>(C$`A)
M-J)M.%0H=9&Z-H/)HR"V`+U8CH;ST9SJ%I#C8=C3-C'&V7&%7ZL5"$N!/AE2
MT29%K=&>&Y*0'*U*11JRQSU;<L;VO62TK5$ZOYUQ9#LE22R(Z)2XZF&S3KN$
M1B%,I`!U];6\@W%5+:;Y1>A((-+A*(4JI.`T+D^"(@8R1#E2T;I5YD$T0F_V
M"`G_`)RXEE)K1$V)0&=R*XX7"(^(/QLK4C19;J8QB47*[#:DPU5(]R9Q0V`*
MG-Y`T@9(L3.;7@W!JG>4S1_%[E9'4D1C(Z'.25'[S]#"/>X)0"M=!IGV-SC6
M7,V-9++QX(.#7+;8V`N"E2/2-W>[&P/3J=<:NDUMCTF47DA/QJWMH>['YDGD
M.K/1;-L;.@<E=<I-##8C>;:MN7$8;<9]L/Y:-2W+74KP(E:VBZ[6=3ZLABQO
MZ-3C3[\@BI*NV]Q.T_!8BYCEOIQMI!TGMB+H;>TV)T3==`[0B>;68S3)/4AK
M;KH3)C@?9O*`Q*SZ#5WU[Q:Q;DDU;UJ1)NV+D\4(,\E;!?LE81%-;2U<YO4M
MS'#/7S.7NR0FJ<CYUPK-3@U,</MU/F^EL:03Y;4B;TC)<C./B4-UA$L$6,DN
M[QR[?N13)&]&\^&-S&3")TAPHIDY0K1QLG'2>QUV^05:`@6$KTK'U)3NW-V*
M$)0"<'*]`"Q#:G7ABR/;ABI&K=6C5W8_4"SE&/F&^44>9R7N?D]P/`*$&G=R
M1H;DKAZ#D]N1(SR^T@N!'$NP2/=+I%[CV'N]*I.'LK5H<%ZK3K0;X>3'Y6TD
M"OWJI#)$"'=<0\:2CS)'4YRLUI!"GUH<;U0):2YE/X''2QM@C+@;+26OIL(9
M#0(S6+K0:EBL@TP+QTC]^G+;VSO)S/--T\[N?(!(35%W)C\>D62`X]<ACF6[
MI$DF(T^I5-C/@)DD&H70/E=&BC-0T%)!]/.*0CED868:;<(JD8[8X\]E2%V@
MUD?#ZCN2"6NNZ%8Q&'`,WQ^UFT4UMEQR.TW$-&F!(P!]+C%UD3P((R6E(D;1
ME&B56/8Y@"&P<OQSMAI;H+RG0?"WC[:'D';H1PRRP9*;4;GXT9;44#Q[G=.Z
M1,T&W8/5*BELD#<^X,7F?-2,H)ZLMC6'M!Q:E"/<23:$&^>*V7(Z;KC:3`>C
M_CMJ2>\46&\%'A!]@-+F.J-:%<M(:VJ'*;@YYSI$6L28VV6H`>O+:B%+ENQ(
MFUI5>"?"]W6'+B8>5+*.D8#3BP+2UOXX2W3''.I`%8NUQ[&?J>A9;FY<4PYI
M['=IW-;!QK-ND-FX]6P'@MR)X9);:#R[]C(+V2\^5)`(QU'H=!!W.\PQA*KF
ME]JC4$P$>A7S+S%!L%IM\HF%:=Y](MB1:L%:Q3D<2UU)3*38.&)=>K')3+$E
M,T0AGBHCPO*<<"W^D`DG2K8Y)\M=`\$S8#HM)(LXU#95E=)K2"%CU*=<1+[$
M.(]"B4:%:M1I3;M>W+%4O4/-2U!B41]"0>K&9N$4TL"*66H_4(<W4<`"W6$;
M.*S2X<T]W`8:QL,Y18;WGTB0`%AAA(FW#B"-1NWIZVO]5_7Z[?GM?TO;\U_E
M?^&E*T%T?U%`7(\9DI>Z*D]M1<PQV_2@U$SNY3O('SBOV[#FJS&R)3$72^WF
M8SPRTA&8S`IYTF=]KZ1HE3G:]K5D-V+)\\I$AL:6.J8T.<]<`Q<]`\CPOQO(
MXE4@FSJ)]-??<@Q)@[(;>Q59)'<8,HS@@=D8<K+=1,V8=B%$\)RR3Y!F^R=%
MV7L8_CMZW_'?U^O^'Y>EOT6KF]K7MZ7_`/?I\[7_`(+VO\[7^NU_G:JK)N\>
MKR:LJNKJOQV2L'Y7Z2>2W:<EUA.4`5=_(76!+4CPUI\^@(="%0JMN/\`W;DR
M73IZ'A]8W)71)MJW%RX2&@WY!\NC:/E9;46GQ$5^2*)'-X_)47DL0`I^R`O^
M[#BZ3BF>Q99"KBKL0./1QRBQ-(T=B"1FS?HAZ1A^Q7I#J6VL68ZU"NU\48%'
M1J`R%)("P@JD3+QA0:L3KQI)"LU8[DBQ`O2;=R1:E4Z<\=NA0EW;=.W7ECGK
MSRQRM>_8TI2E*4I2E<7O:UKWO>UK6^N][^EK?QWO6A>A>I.=N3V*IDKI&9X[
MA9E:/?:]!J07..`?3*W3IOOL&;`U3M^F7<X5.%O9'MMK#C)XGNRP3#QRE1LP
MU95P+^HN[.[,]K<X/B4QR1`B^V28EW9V3&9<,]S@S?BIU9$.5>,G-]#/AR+K
MZMHXF$D7IG3&+#QPRW;$3`?FG###.:O(_#T)\=B'2H8NERO>69/7(CTX]%RT
M=VON>YT=*)/[C0=DF0%^G4I4I$%LMV+;93>2@(\9*;?N0LQI@DN[?ANF+2E*
M4I2N+VM>WI>WK:_XKU5S/GCS<"26''UIP/+"7DSK%SYZ5DFIB0`F]N7NJ;CM
M./P0SIN#1YYO)U[FRMHP&CI\C@BU)K;:%4HP4&W>*UZV]EAS9\J2*%C`F,_)
MO#A[@Z0E1+2WQLQF5RN0>$Y-);MZE*/(L#K4:('MABV/:T>1'0R>BQ4/O0/=
M:E$9Z#:CW:]5;"#<`-SAQCA;A@6>`FD28D'-A2",J'+#UFNVY(N&%!^Y0@((
MU6J^.U.I1J-VC=KRQSUYY8WM>NWI2E*4I2E*7O:UO6][6M;Z[W^5K?GK2$]]
M*0!RTPUTG]%S%',*L%!;9CFYY(=@=J#EBO7IRWX"PWTHJT*7`<5X8WP'``*<
MF;)[[X)1X]4IV:]6=:R[KOMCN3+[G/'E#A'GB$R>-])3OOM*,W,U[*A2K###
MZ3Y:X[<F+:E&5BN21;I*`GQ/&$/17KWHMGNQ+_2;+)=DQ>1>$X:Y#TNURM_>
MZY1GF5MR,C.O3TQF\WM.\TF46-_A,W6[%.K2G"-,-?++4SXN8X]LQBQT?HF;
M#50[<U2M5-.E*4KT[T^E5IVIU&K7OT;M>>K=IVX8[-6W5MQOALU;=>=LL-FK
M9A>^&S7GCEKV87OAGCEC>]KU,.7Q<Y1`YS,G^->>''P@\SI=4XG7#@UO:Y7X
M@DPNN4:U954[N4S9H&(8!LS=/J3*'ISHZX:<.-]N]:3UN';GGHV]4G[S[)YJ
MRL'[ZX1?I0"DRT:MO4/CX2N+JJ$UB;V,MZ\Z[(1^"%=8Q/H0Z/9R7(4\>R\$
M1WMM]R]E^C3DHJ9G-?>/'77Z7=NYMZ-BF6"2''9<RT6^Z4B61VOGJRSPV)GE
M%IVPB268NUYZMF&U`ZFH(6:L]>S#9IQRUYVQEG?+'+]K;*WM7M;*V.7RRM>W
MSQO?"_IE;TO;U]+VM]554\.\-O[F.;N@;.$FWE_.[/DB227"+8'Z\,2L8Q]T
M\=;\Y]$-HGHOM5:D*`7-.M8THV2([(M@R/A6W1LMM3&<-.B$W.WCEF9K2?X_
M5\KP$Q"K'Y]EORW'I&2D347.8<':O9L[GI-@C>&";5BBQK6*!E+)'2*1)-6Q
MKK]ZBPW48PQ][L]D3\)=9PZ<XL.7B!GNC7S7WAY.G>ZT+;DUGI%#AAOMY3/A
M6.9609'TH1/@C:F^3&J$?3)4;][X3#AJ]:WP[ALB0B%<FX7Y4Z%9?@R&\5N-
MBB$O2*#@5Y\T69HYZ-HBW[OXG%SEC8'OS>>>U$WM8/<I)(#)15A??]&H+JTR
M;476)M6I9J*?/&7FY/&>5BV-.?FVKZSD.-^(V-)*IY/0,X39D?S+(D3N5>U%
MLH/1R.--@Q@HIHO2S+`!B&D'BM<6&W``,5%2NY)VDC<+/PMU_)28MRXWY@Y5
MGIP\HR@QB&B>2,.M7DQ[\^;4N\Z-=T,LIV!=CYVZ7(/_`&88L+1HC-8JI/<+
MK!.Y8U0)18[U^X.M.0.DS\5LQOMF8I?ZU/(^X^+NA<QTP*>:8_TQY'W/71K1
MF1\!F@LC>+861D=ID`WMPX0A<>#E7J3*83IL5"#\R:S;XQQPKK?'=/=,V='P
MFB/1G*,J<CRG`MG(]$#B;JAQ<YPP%9>D^ZXN"NM0#Q<C<?R#8Y6&O<X`]M2:
MM*0OH5A2Z)"DU<PQ#/57%C'ZRA&(HG0S<,D:>9]GGF"1=[]9#2:[6W]/NXM)
M!UD]"(W,5T/@>FBN4G0YU6AT1XUI64O>.,PN&`H:[4ZP-GL%@<<.7E+QD1-Q
MI$>I=+KLAJ*XK8")?F1!-'-VGFZYF\<=[HU;G$13#``Y64U'S0L0I(+5*%%F
M@#65$%.O-9LKHZ&\5G1ZN"?(-%48YMY\,*2#+Q,\%Q(O+MYK*(3V]6R+'LV=
M9"7.=)*K-D0W!TD-D\DBM$V]:Y2WFHZG8W46>X4YE&.B1SRX^EIX]MR4X)3Y
ME2SW`TR3=RGU+'4A&^CRC,1<QN^`&*P6Z69;OAP,[=&#W>0!Q1UN?$-GV:/<
MS1+'9%<+=?YMM-A(35N.,4)^-3H1E-W@1$Y8,9/Q?/C!\L@"54R=R1>LU;%'
M7;N*..$10;/!;KT'4FU'N3(G!CEJ0CVNHSQU^PI2:;[L-9E?$]TDZX(00Z](
M*C5U.B0O")Q[XX$K\<CM81H9SMT#`CHE"SNE`BJW;]CK4M@9B^VG)<9F(J0.
M1P''1'0X4X1++5:Q);3*T%PE,NN<9B`3'SJGGQO"Y\G+J#GOJD[T81U(A/[*
MD,EV8-C[?`*YUI=>$Q!UQ55%RPR<!91$;B15H/EW'O,AD#'VZUU>/3IIA<6<
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M-LTU]S\]>,V'HGDH9T;,[TDKLKKQ`E5Z4O2W3!E"Z7`R+%,,?I87`T:AAX6'
MN<6RIV9*=6L7#[(;IC>.4YHG`YG%EEN4[K'[6MC:UK6]+6_%_P"_TWO^._SK
MFE*Q]TM-KOAO&6D\VX"=K5<2'>+<#9<P@<?;QT8JQ]A2.,A"R98+*(5&'[3>
MD7I%&C;C^USUWM56B_Q$Q)&9`LY^#)HGKQT.@GO6DE#=YL=0POSD5,J[WSLK
M/<BS"(D+GS7JQSMKMMV,)H1V:OHPS3)#B+6I57W?%@>\T<!8Y:C;"XM\A#/&
M:M";07C]U/7AN?RVO"UK;UBED/M/.L"&S.>..6RV"63(R#J5.>&C#2*36RWX
M?=EY:6VP,_<=0\1^1+EW%$EQV'G.Y.6'%/D8BU&/K91C^R;Q^6Z$`9(=65K9
M:R:_2*T;=.>.R^O5?'=AJV;&_E\\7\JJ-8]I]X<OZ3>W9KTX-9YRTV(R>?Q&
MS/W>*38RY.5LYU:5GMWPPS1[0^"K7EMTX[-6-]VKVYW-206*_$&LJR'DU7B,
MW8:MFDBU'&%<B'=AOU>_T9ZE05<NT;,=VC^[:LL-F5MFK^Z87RP_;5E?O,;_
M`(MG_I;;?UX5Y6SM?ZK9?GPSM_7C:N/;Q^S/_P!/9_\`+7C?=AC:^67M8XXV
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M#(HSDZ4EPS?AAE@B7=,]8"3(%`HTY6O[Q4T.8P:F][^QH(VPQOGLW3S[XN>.
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M9PO1ITZB;?-/CA/H,OC;+TVJ%3<.I9^@`^8RUV]NUTCLBH,I4WQTXIQ:?/+?
MJ^^_EA'1_EJ3=1<)>13F7)(E]ZX7.1YE)]'1>'WX7SMO_P#O(XZ.S^-V#]=L
M;;-9-<,$ZMNO9A?+3IV8[-6&Q8Z\POB\E!3@.;7=_,HXYGGCILUG_*(&)7EB
MHRO:UDNUF2SM9#IT+,;WQML1[A&M5KOEC;9IQOE;UGDT9&8#_0X%&*]V@]!F
MW'5GJ(-)S`W*BVX;L=N6G+6J"+U^C9CMQT[LM5\,[VV6U;+X7RMKSOCE_O,;
M_BV?^EMM_7A7E;.U_EZ9?GPSM_OOC:U<>WC]F?\`Z>S_`.6N+[<+6O>_MVM:
MU[WOEKV8VM:WSO>^66-L;6M;Z[WO:UOQWK3,C])<\P[IVJ9;G:&HN2Z+>N]5
M(LI,1D)]-O83[/7;M<S@%X:[>[5)<_VU[?M%.C+]SNUWR@PX/-AXQ!A?)MM+
MJQI3JZLLKZDK3Y9:\C=7.5>IO?*VM.D%\Z,V2\LLMV>/L8;MV[0DM>^.>Q1A
MKO;.NE_"-=)2CHUZ>6O%CV4\E.Y7MTV=?4UXXX>C1*CMCK^'++LY4<KDF_:B
M499Y>B01`Q$OKQUY9;4.JV>%Z^.T)^7F?]^K]F;KGG[B1CY++[%#)X@BY7-<
MPK1._##VAROI#JH3DRQ"K7?UMM5M?ES4HPR];)2=\?9V7V_`_BNX\@]\HYF)
M,IP]#]'IK:-FSIWK!Y&^C)WQ7)]F6>M<W'9(VTD*C&V..5]6H3$#<CT`D36Q
M2(A2=-AAJM8O;&V/U6^OZ[_7>_\`'>_K>_Y[WKFE*4I2E<7QM?YWM\[>MK7^
MJ]O7Z_3*WSMZ_P`%[5#GI'Q\<3]=[])+HSF2()1<Z37HTC)`,-)&-E0%J398
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MVO>U<^\Q^S/_`-+9_P#)7-L[7^JV7Y\,[?UXVKB^=K?+TS_-KSO_`+[8^E+[
M,;?BV?\`I;;_`-6%>&:C3JPRV;<[:M>/I?+9NM?3KQ];^EO:SVVPPMZWO:UO
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M=P:E"?39>QI7G-1$<%[5FO+9MSW7@3E(-`T>&4V>[;L]A&^DCU]VGOBBRW[D
MV'L93^@GF'G/E]L9,SG*"XE@IK;;Z=BL'$T?-9@H2*G1A;7BN+XMD8.VF2.>
M-O7>1+;5JY1G?+8H4;-F>>>6\[6MC;TQM:UOLM:UK?/Z_E;[:YI2E*4I7A[O
M#Y^F-L?7Z[X>N%[_`,=\?2_^^M;2'"T/RXCP'2K%<<28.PQVX8()!8K5>J/'
M#?JV:-^%DSG$%=5L=VG=NT[;6PM;9JV[->?KAGE:\''+X:_%<YB&@OMX#Y:;
MAA*ITK4IJ/(F;L6&DRW0HVJL%B<Q&.AH$M"K+=OV7W;]*G#:HPOCJ49[=.O7
MKPQ+#PI>/9&KL0`L*=V>OO@HU;EK&[?[D9:I5H59ZMNU*KWMSHU!FI1VVZ=6
MW4DW7R3Z-F&.6G7A>M#=%>$IO%6T.-\7]7]C<Q3`U5F15#]T/:':<N0]*:?5
MGI49,&96NX>B-;ZT-$KDFQ27/Q._F&[V]L59F$^X[L1IQ><-X;AKB8=*3>YD
M[_C'L+BGJ=TK]@Q@[2WE%\B;IY:Z7)8;KZ;K.7^BU?1X4*X39/9DG(?L+2,G
M94W@K%4H^[7<>.C89W6>I?"+XS,4>]`3Y[-/(<K2X(R(R2N@^GI/$E->.[2H
MRS,!I!FAQ"BBO;OTX;5"M>AW*M^6>ZV[9E@HWX[-WQ]XM_&W%>_4MCW@KCYJ
ME-.._#6;&\YQ/D>QUJ,ME]NKZ>6M588OJRQW;-5M62[+7KT9WT:\<-'IKM-L
M.!"MX>F$@1(X&+1:\=*0:'0I10]+JP]?9U)T0_4F3:=>/M7]G7KU8X6];^F-
MO6]=K;'&U[WMC:U[_7>UK>M_X[_7?\]<TI2E*4I2E*4I2E>/L8?/TQMC[7UW
MQ]<+W_CRQ]+_`.^M=O\`A^*)70X"Y1C./Y(&:_;O@.?S*;+S0X^\PRU9^RE<
MHHIIM[>O++7G>V%KY:\KX7]<;WM4&'5X;O%<[ENLFLX`Y4"%M*G4LTF6)#S5
MC(WI6ZE=UV"W09C9(TB>E9=1EE?8JU*L-^W5EDFV;,TM[Z;XC^!2\>B=;])!
M(]G!H$KW5^V08O;/;[)6;=2W+'-2CV[VUT4.SS'YYX89X#[WLCTY:]=].G"V
MO"V,'_)7P#!_)/&$ISCSV_.R8[E-ONCG]OAG8E\A?>)O>A%/[IB&F([$N(US
M=&&0N^Q9J.,T)RV*AJC:DQ6W6(<DQ!.D5IYX;/#MQ4J4*%FS=V#[Y0K5*,\L
M?)#Y$+?W7:IV[<LK>UU#EE^[ROEZWRRR]?G?*]_6]^K3^$3QHX)E",I`;F>*
M1<DVHBB*1^C^IY,'F=2C;AO4;#@U^S:X!IE7OWX6W;5I%(H5Y[,MF5]W]UV>
MUN>/_%?XU(L4:5S`X&X];)5-[ZV@VBYTBG>?TX[_`);,-9XDUUQC'7?'UPQU
M67>[UZ\LM>O'#7EEC>;P)M@&P,2A6V%%-\0AUXZ48H$.1AAJ33AZ^QJ3H!FA
M(DT:L?:O[.O5IQPMZW],;>MZ[BV.-KWRMCC;*_UY6M;UO_'?Z[_GO7E2E*4I
M2E*4I2E>-\,,K^N6.-[V^J]\;7O;\][5Q?#&_KZ^U?UMZ7M[>?I>U_E\\?:]
M/]U:A?G/4"RE?.\F0I$<B>]PWZMMGU&C(=WO-2E+@A4ZMEW""(WSUJ$6O!'O
MPRO?':EPQ3YVRTXXX6B`ZO#UXJWE?;F<\=G&-]^_-9LWJA/.L8-I;OV+M?NE
M.S>M;#>"JMVS+']MJSV;LLD^W^[IKZ=W]TK"=OA.\:624<A1<\DVZ.$)LD8X
M6RY[Z88@A*FRVWW7UXB6=,P,=G>VS+++#9M39[-=L\\->>.&>6-XM=.<5^(S
MB)BB7+,3LZG8B)QF?N:B^+6)WWY&3<@2>\22JUT$>0;##%Z.(.M].<BO7:M2
M5NLQOJM`W%3\<7W"1.E2OT1[YU\4TPS])C<G!TN/L[QR<SC[:US>YH">0GLJ
M0NNIM&[%&2M#OZ>D8]T:^6#`S;WZ-(]3E"L*IC,@Z+JU:9W2^%+(\A">SXEX
M@.-3)!65*D.QEQ%?OR4K%F[R0>0RVU1ORMCC?9G;5TYKUVR]G'#']IAC;V<;
M?+U];WZ55X5^`RF:?)Q-?I!X:4GO\DB%Z][]YNX:EW*,,->U4G''NDUJ32LO
MJUVU8J]>K'?AJRSUXYVQSRM?WW\)GC!5)$8]P\JMY_CD!+Z63#I7D*:)?'XK
M?[E^VVH90DMVI%*>WN=?LH56C<AQ]F_HFM[67M;99?BI\9L>;D2MF^/WC($2
M'W]I&83\U1`I.:,[*L5N&S$X1:2TMEMU*M>K=IW;%N>W3EJTVTYZ\=6O'&7[
M,BV-(X1V'Q]'S(8J#'&V.*)FM%NM9)CC;=N46QQ3@1H_3CC\0I4;_2V%K6W;
M]VVWIGMV999U[&/S^N]K_7;+++*WZ,KWM_N^5<VQQQMZ8XVQM]EK6M;]%JYI
M2E*4I2E*4I2E*U1-D%P[T?&SFA^>(T9<M1B\$GP;C9#];X]QMXEAA?VTJG)"
M0T[<4I0:HM@M#FD&20R$(Z4Y(.O0KTVA3KJMO#_=?C=V67\QD7IY`>+16'M*
MN3I3>VE;V+!C=T;O;V:.89_?91.BGAH@!>>[6&@V?S"1[Z1XD:!8\QJ]NU,"
MSG]RIVGSMV8TBSF@U\W*E&B2^YZ3HT=(8NPYDAIXZK[=2UD3%$KN2"GS'+I1
M*DRQ-\$X@Z=&4LDVKF\0,B<TY#?*NE*4I2E*4I2E*4I2E*4JI_S=?O;$U_Z0
MN3O[8W/]6N:OW-_\YN_XN=>RE*4I2E*4I2E*4I2E*5\9`@A%(E9(FL2CQP]*
MH7+ERU1I2(T2)'IS4*UBM4HSUITJ1+HUY[E*G?LUZ-&G#/;NV8:\<LK4]N/R
M#3%V"?,Q1XHF6UI+"C2JYLO_`,@LM)3%N+XQ6CUN2$\@B#6%VHW'V-)HCX=;
MHT`HT7"(>$%\AWW8R[JT9*1&R1/*?CKB[G9YD)\D!V/+J7LIUA\@[ZZZG;8-
M,27O%*-V]6J9<6@AB5&R8`B74J5J<1L71"%;@7)'9)BYUCK*)?I?98/:UK6]
M+6M:UOJM;Y6M^:E*4I2E*4I2E*4I2E*4I2E+VM>WI>UKVO\`7:_SM?\`-5?_
M`%7X[(?Z2>`F<VL?>?-/7[,%_1D>=>P$L'->80R#3LU*4S2?>M<@(M.;XI4*
M4^G`Q$\O@G6TU:#8NU"-;>(J[%M,9@_?<[\3F!D;^5MG-MN,)0N1@69Y((6#
M%]/)SPWJUVL8%3]%-%:L..OCE_%LE`W%8M=2]QP$5,*E]P,G@D^G2$TW#AS(
MEPBAAT$3'F0IH>C+!RXI:F(BRHHBGUJQY,801;=Z,@.7)-VI2C7(]^Y*J3[=
M>[1NV:\\<K]E2E*4I2E*4I2E*4I2E5/^;K][8FO_`$A<G?VQN?ZM<U?N;_YS
M=_Q<Z]E*4I2E*4I2E*4I2E*?5]=06ZS\@D'\HEFS&RQ.\)JZ6D?1ELB3DZ"`
MF#_G^1L;Y;M7TWI:B=4E0L6/$.Q.IS/RW)I5GQFWTZ-9=:Y<EFK6@WQ('\0=
M)=YKD+Y\I+C$MJ&?BTIIJ>-""W@360NCMJ]E8-OUY,PS6W7!U:Z1^_)-FNCX
M4C:G.@PH,Q]EM2)JS^EMUPS=;;>:`(,UVH##MEM-T6A!M]O-\8A#`P048FUH
MQH<,(&Z$HX4*')-.E*A'($R=&D3:M>E/IUZ\,<;=U2E*4I2E*4I2E*4I2E*4
MI2E*5UI@,)<(HF#.C!YD*:'K!)@051)B(LL*(I]B0@,)CUFK>C(#EZ3=M3+4
M*O3N2JD^W9IWZMFO/+&]/!C@2=N)S!*2/%(\6VW6%O7+#SS\;\TF2^GDYX;U
M:[83-*.=7<B1G'7QR_BV2@GDC1M5`XX"*EU2&QZ,`2?3N-Z9,\J>1.'^DG@6
M@QT@'GS3U^S!?TG(?(4^HQS7F$,@T[-J92[F)L0KR+3F^*%"I/NS#RQ$!UUM
M-6@V(=I?8WR*JXG3/^U[7M:]KVO:_P`[7M?UM>WVVO;ZZYI2E*4I2E*4I2E*
M4JI_S=?O;$U_Z0N3O[8W/]6N:OW-_P#.;O\`BYU[*4I2E*4I2E*4I2E*PF1Y
M*CZ'V0YI+E5[M2.(\9@O<;=KX?#@%-5I-D0GOCCM)'7";5(A0M'AGGKUVWK%
M6K'/;LUZ=7M[MF&O*H_+IWL?R+YY!>"`I?E/E%=MT8$/(1.+`QVR#*(/+9EF
MIV<4\V/+2E6KAI1'=+B)Z#Z#$A61AI6*2#)C&0?A4I&TX>2N%.>N,Q#D_8J;
MQDY(\B*4Q:9)_E)P+9(Z%G1R:,/2[CEV7'!;8Y'4J][ENWCP>G,8S&U91N1M
M)K@!U\4F,Q:4I2E*4I2E*4I2E*4I2E*4I3UM]OU?72E*5%3JOBSG;LQI"6S.
M;'N5*-$E]T,8R6UC)=AS)#3QU7U;43WAV6FBK%/F.72B5)DBGXUO&$Z,I9)J
M0.$>9$YJ!^Z`Z65N]/'6N3`NCPS[\AG'2?=H0B.I8B8>)7L^&!.:O!(BPZ5Y
MYC\3J3]`-H0CWI<2,U\]A4[\LE&+S+TAE:HWJ#>RX)I.H&^&PWWBVE>U<WW.
M''G0RO>@(B]Z@:43:U:/8H%F$8\L-4WT[,?B!Q1`B)(=ULTJY(F5:MNG#(:4
MI2E*4I2N+WM:]K7_`!_P7]/SW]/2WK]5O6]O6_RMZWKGU_\`?XOT_57C[6/S
M^?U?7]?^[[?G\OEZ_/Y?7\J>UC\OG]?U?*_^_P"7[7TO\K^UZ>E_E?Y_*N;W
MM;T];_7_`._G]EOX;_+UO:WKZWM7'M8_/Y_5]?KZVM\OK]+_`%7]/JOZ>OI?
MY7^?RKFU[7MZ^OR_A^7I_':_I>WI^/U]/2HA]U\RK>Q.8GSSZ-=Z5BK'>Y(A
M.:W.N"J3Z9#C&,U1U*^]/F)3+Q6]1<NG8^T+JW8+=6"+<1UK]F"C4FS3;I=X
M8^S:]O7U]<L\O]?/++T_-[7I^:O*GK;U]/Q^GK^:GK:WY_\`W_\`]^SZ[_*G
MK_O_`(+_`._[/STI2E*4I2E*4I4"^L^TG#![@`PS!'.,O]6=./P=L7LV.&2$
M(-*+&V.]A3;[L)VZ0<PJT50\R$NU-EKVVWD')(IG=GH2-".W$H48WUZ`CKQN
M.N:WVV>A?*#)`#JV5&P33N:,.<VZ%5!^&>:C>K5:Z1='44'L=Q69I($;-RS#
M5.L^['`Y+9;-*IE-".,4^A-KMQQQMC;TM;\]_G>_XOG>_P`[^EOE;[+>EK?*
MUK5Y4I2E*4I2E*4I2E*4I2E*5#SL/K(CR<'A8L.YUG_HK.7I\C^$5(R`&;K>
M)*/$CXS7VW26^-.U4EUBF*W_`(''22);=NE/BL6HM"A:/T[<E6$PK7];7^5[
M?.]OG;Y_*][>O\5_3UM]MKVJ$$02Q)3@[D[5B)Q.6Q6-XSC'CYX1JW,009%L
M:I"4QT]IGWKN80H]9EP6-+XZ!D<,C2Q589?VD0S4D37VW454=">2'JSE^8I8
M7.5I/-QDARON:P'GMQ1SBWHVO$4*MR.+\I3JQY?TB!=R@J2)%?\`'+$E<BK?
M3A'#R<P%P_T0T#<7IT*CX>H?)Z\8!XXZ':Z*87FT.T8?72`DD=U3M'<=I4[2
M=##;L4O4BAB=J1TA<\9&6S(@.36A>#Q)=Q.DN"9[C-NB1CKC<["-""DX/)1T
MS*<*MZ(71$[Q-B66X&U,3E>)>.P3:=3T:0T`T&P38\\.ULNEMN/,QRA$I<WI
M(]/9,H?ODL:W7,SRK7'F$B%PAU73SIT%T#SK);WG(?*.F?8-C?DGHOH*?HC#
MMEGAV*P$#!8;;=7/-HJ>H@2K>R1YRX8$2$F7)7T\WV$<#0R(NP>,:"-IA;'?
MDCCMF1(^Y'[GDV64,@/7JCCB(#,UR[$3D#,)O,K`\KYQM/30:<$+HM6NI&1A
M8UJU+&RWS3B=KPE'!8#/J'MOP+XZ4V6-3J].N(7\=KMZG#]:[G@_DO)!^67`
MIU1]$ZYK9R:=!,!V-<]#"9,S=>D''+=W;G$!3M]W;Y"4&V<;%+UI[-WHLW.M
MVI(/E'`1W($Y,(G"#[)YQ(TW0]1QUM&!KX'EVS'L]Q_`4F.)TI(U%OHLS0T?
MKY*`2:YT8E"_WPWHB'N0Z[F.UG>(UL5=M*%>_6?-4Y-*$D#53!%CR@MJ3HU7
M`JD!LDA4AM9R-1MN92Y82(C-&QL3E'#;6.70S7*_HR=IM2VW:GPUN=H@&V=:
M;E<.H>A.[7-$G>'/<4H5X;'GU0[0D!=`>_`EE#B&33TFWE!WG`^A/9C;B4#5
M:III-MA/1/<OI4*#73T>*=Z;/4&M>^<]F==:P\`R:XN:Y6%:)(ACHKEV,Y%Q
M1@$9W>"U2!U'%T7/AG$D3I$;1R=68:Y]T#+%$.E6K$[=>2T:I3KM293KD#TK
M,^R)3W,0G#%[Y[IDZ/012DULU4QTJ98MRB68I$2B'I=Y@36_)G&<([WH56;1
MWM]U)SEP"C4X4(3`XG75\A/+BXWVB@J[*YA<0Q?.+D\?1L#K><C,W'3A!W>0
MJ8E[>>FW-NV(W3/)J$X'?K<+,Q1;W&.I2WG2G-+-*I2W4^<"?*><=0&+W$S^
M/IJ(B>A7E%K8YT-N0XTF*VY*13!',OR.TRRPRX?8NW\T82(]JURI!2%YCQHI
MZ-%:*/GR&PV#$=<H\N`U/$*Z>U?,LOM^%5P]AN-FS"\=ND!%F]EO,D[QBEY2
M([$H(WG&C8;VQLAUAIW;13IC\$+D9A%'F]F>@R>JAE<;_*L0;)64<Y`@O)LL
MMJ]?7Y?;,A;Y(":H[U__`',Q')P<M(LC8B%S-81B1"<HH6O&5W"1$QVY7*I&
M--5)0@JL#+'-<5:_K;U_AO;Z[7^J][?B_B^KZ[?5?YVKFE:4Z/<LV,Z!Y;=/
M.$=`);G@"P7&4B6-72Y=#/;[U?B5!LV-YOEG$JWHTPU&N6VPQV9J"0C1OOCB
MCW&PFM3D61=O!IV5W/#45N*=6."C29SD?-(K*D?-EQXNYOLN0%X1&H=C9#N7
M7ACJ-#PQK8K0IE^G8JT[M>FWN5Y'5C@O4U\=PJ8YOT3S$.1]'J8CG]')D,O@
M8F+3SNCUH-^!&Q*>A/+(XC&NPPA;,@K>DT1%1```*?!.(XXW07#$6OF-U1J1
M7#L>Y\DLE&_7G1^R:)@C*1V/(*%N/B-9_;,O2`&CQHH'Q.AR(&?S"\(T><NO
MF%&U)8H^)%-1@/2,-+--3.L$.H:<8X]XB".T_5$LGWH30UPN&4JR..?$P@9*
M)]V[M98]91"Z1!Y?H.YYLI3#=B_;C$JEK\[NCH6+1>UNZ@V[&/8WNZ,,U.3$
MU'D7H>O0<[C%'1.X)(LAZ&]SJBG/#QU)4)QR+=<M2"!\CNF&0H1,JN64;9?3
MMN^+-YJ`AS6PSH4QH]%:37K6X.!47WS6\D71)V[_`'L?C^8EFAH1-Q%T1(//
MZJ,G;FH%.;N>-NCXNC'6T]ZAJ%<T#Q?K$)JVY%RR*S.)#9I_98=X,FW]ZQ>L
MU(HAR1T%T4%9SI,`)-?8>7Y.#^0W=U_H$N,X3W04Q(N\F4!P=';A"@,S"]/'
M&Z+.;G7)C<C\Z#TIEIIF(RK\Q4'=[=UN!'.`K-W1;(\=/E+<?-ZET.H[SW+G
M53%Y(<&"-<^SJ!@,H.S-A9>S[D]Y-=(=X5?)B9`;'0J-IJZK.-1C/U)2NH9J
M0;LAZ%!0K'$)\_/KF_HZ12(PU/7CT"YK!'1;T>XF46K)G>G+8Q?)SP)E'B2Q
M/NIY-K8YVX0-+2*),_FX\'<%<20T@&I\0.#BO+%-;C%SFI9K4A21<FF!YXE"
M,%<?[UZLNYHHF:4.I64Y[-*.W_*$:'YG?++;G..+N;K44%^?GM)F@X?&M>/,
MB8)G()*F'RYW&[ITZ/*Q4<0LG4Q#$+C98A]V,T,X20V4`^AIP"7=A72ZU;I4
M+&,YFL;F/%&[H&EV,XRDMLM\Y&;K;Y.2`KB<JQL1V)=4R@`\A,?30N+/'#AV
M4G@\/'XD6+"+:PAD?+[>(6+QU-0Y2B=A`WM<[YZ"`3%RF1V+6X@$Y621A\,K
MQV$;9D-Q]B3BYG'&'-KL0!9OY\6:/)5Q7'RH6]%F,;&'LW3L\,YON)"L1--Y
MF$;LCMU@S9!)L"'%>Q(4VHMF]<!QS')=U/)!UB=Y7=40N,"V6LXBB"`O(#+X
MBSG<SY#:=3CYWYFW2<'1;P[9=(0&X6^<MH6"''BY1)Q2$T[4IAK[0A?3DNSA
MX\O*-TTW)!"C%@^%E8B/9B>*=\M]DM]WK3<KLI=XKUO>T91PV,B+S)*@#X5N
M:Y*/=9U*C-V?*T>V7*%9XE/J.L4SLEH^1GJAZN+G9M@$7(;CMT&IDMTMHY&K
MC>,MY+H_CSGEB3SD%&`6T\1J/8]SN\JXVBW%=G<MQ*!R+2?I9GM;?J5,<YB&
MGRO]![X$`=!XM/FD@P7>.9,E64QL]2,O/B,8E+Q4^7S(63PB4<\FBY7POB0Z
MW!2*0%;`+9RTWF59_O77S`9SCM8&+=\U?(ST6V'&M22$IB-SM3+O7I:!76>;
M396+W#$4:Q]TK&\%Q)=TQJ-E;1(&IL/#0^4.@U-[=;DC#F`[7#'NU\1TG8#W
M)/QFV6=G=HQSP]'3'DN2F5,+[$/Z:(W@X2*A6/%TD.1&YI.*J108N7$(EB'-
M$V4&Y+LL178[MZY2KVH`@`8:<!86*5R^M?U_3>WZ+WM?^JH$')AG4KVC.7-S
M/.L(8#$\8Q!+\:+#31(+%+=D9^2_-\=G2CI4IW%AL=P9*/80(B);R+2UM>*C
M6J0K".ZQ"Y%)]/)CWZ/D:$IFTO=UM)PNAN2Q,<?0#.UV7@*!2O'H'%&C8$NN
M!B`B:(6LP3N=2X6^LLT%P%LR,.9:=W-38$"N]#NT1/6=(=<QY&$G.TQ*4=2&
M@:7D6Y/Y6:[NWPGBS=SLC]W3;`<(]";DXD7(988A+(9!D9_M5K.'/:1L'V,-
M99<!6+%6E6BE`^73TZW^T(09`:3V64BN35TGNQR1>GB'5F8:$,15'8X>N.[I
M-W/RQ)2YS\UO:,AB;/%I)PJ4,?*C=210J$ZR2Z+;U[@GT+VRD@8=O;H9<\>G
M'!S+'\-.N/3JC88C?+B=;TBVNO1[Y&9H59]N#)4;KD8SQ#H2.EL:6JD7MK5<
M7)(':6(Y<-E3KI%"G5CC<<\LI.TN:I8>9)N=)?L"#%JR8H=8D(`WD_V\+CO6
M^&\S4S@8TWK7K%&A]"22T,=2,2XC`5L<^DVX=N5RIT3TM'L7^.Z(#*EH-_JK
MLY_,N()%?JAHV^XN*#0CGR0>@)O.@&.J<.[23<:<9&)YCQN`+&%H?2YC"!PG
MTQX4#5MDS\DM=#=$<S3M!3-?KF#RI&CQ1==.Y0G9T>(-,L.YAP?S<Q9);0K>
MGUEA3:SDRT@Z9!0Z<&LD;[<=@,FTM&Y"VUJ(EDH[MC>5"!GVYXF9B)LO8:[I
M4EJ6H60ABY:+TR9(^(7=#0;KR'`7'A(FUHRF0Q&O85(8=MQ"<?+V.Q:.=+V#
MMA:B:QA/HDKR9UDP.Q(W)2A&PPP.;H]T+FGEB;(L]81UEQJ`:L*B38UJ.=R+
MF4[6PK(Y-M]QT_$[8D-B.T67!.=L(<TZ54NB'R#Y)6[-\L];M22G5$#48D;H
M&G/\%O,>_`/T84Y&=6LPP/NJDDFI)6'MAWMZ4XP?!IV(2*A!I;K(D2*_C;>]
M6YJ=^SG7,4T$.D^8C,)2O%LOP%-CD-BS,>,T`@<6E!!8:)G4X372:::`ALCK
MLM!S0A8L>)!FO1L89X*^QX)+KVOA1@70;+=G9S5;\K/R*V_%LR29OB7`>DEI
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M'.%BJ"FX43(;,%JHZTRN"`D$58[-F/;O=K1AT'),0JP$PR2Z-<LP)!K+8#69
M\7"T-G[+4"2E.0/>%>A^2F_F2!.4+&Y@48)/76V];0=*1"ET:%+77JW&EU.R
M_,!%KX*^\$0O-&QK.F+^2GO$9#4*:Z\_(3EZN;\R.P,Q][9#NDH2:BMF-^&'
MFJ=)TSILVA]FB\%NXOB)U-%:[LU2>5>+E2LRCW0'U`$VMX=`FD[I<\>-UOFQ
M+^Z90CU$/16L82Q[YRAB\SBY20&&<]+%W-YIX`21\^;2-16WSIOH7KY:HT:C
M;=N^T)S8AD)K<M2CU'MBB0$++B9]JVO%HJ5EAI.';TC/%NFWJ%TKHH6CRK]C
M48]F8`P>D8KBQ-,ED%O9J)"P%W&S9REPA!&#+<S0E%LQ0Q91>8$\:CNZH"/?
M+29#K$[M($8^2;O.-(EB];`P<G-]OF(S(NYJOEC[7<C>347@]DX:4I2E*4I2
ME*4KQR]GY>U>UOG:UO6_IZWO]5OKMZ^O_P`/S]?J]+UY7]+6O>]_2WI\[^OI
MZ6^WU_%_'5=\H`>!Y6/=2QPNF6(A4NS'&>YA]#I6YT"G#RB,9,2#2N_XDN&!
MR0+/,7;%`UQFBN@VE1@=K-S,K29+?K3KUVM9M/0SN.Y'CF1I=(K8SE&-I"C(
MS'DF2F[WBE?K<*Q.V<2@QU,XP\G(:)CP;)%$-1Y8Z6XB6A@:5TY&CA=!J<6:
MM;;`4UO'BEYV3-A0_H/,<]=6.HBW=!QV3*E=H?H9^/=<G;R\<HDIUO4L?E%[
M&EP)$UKV5NHPXL<PB!KZ\]&(Q&-T>B_.W&;JF.7V"X'()=TP/EUN"977&V,P
MNQ*[FV+=\?,&-WH.0MH0_-+@!QJ_6N'9&R2V(GQ21X]5*\`7<K4VV6!-F?NW
MPGX_1<\R43*8Q5^S7FU72])4:CBD\DNQ3LTO'0N/74XW?%AYZJ68@;NJ*5H1
MIK5Z]I)AX1A$!`W#(<WR*#'?[X;?_CNB.-W,LB&:>>KQP;<X4"\'/HG=OR4B
M).2[!'AVRVG,]7"^'<O59#(K:(\<VVX6,YH0$;-G2G$CQ[3#Y^X^YT\O<11-
M`CR9[\$-QH\XF&Q@RS()^RP]]<6MQE.$^B5)&(R]#I?FP)&K-+F\Q`T4QHZR
M;`%9AJ!MD6(V($HD5IPMO\X^.AWOA"89RAB+I$D';*[E;>YDSX]D3L5;E$KQ
M_-TS%V"E;4F)B3;W(9EQ8DCOG>S4XC8!?C@Q-E<4!5[ELC<B&!R1SI%[E;;M
M8D<H`!5HA[!&@GU'W6M;K7T7:01AK"3:9Y-P+FB#<Y9G-P.VW`\10-*[7$)2
M9)#QHC@J674=DY^7H&>C%E".'.P!YIDS*\]DA24#5%W)=.Y7GDN;Y3$_O5:3
MFH@-6IB#4;:U%8*L&)QZ@&+VH="?)'JOCW#V8,,=&L8O';LP#R4RA3O#ISX9
M(ZR2K2B>\7.80Y!B(TM;YU.1TN%GNX(%,[4!!;98A/C4"U>GNM3ZL[87(NSE
MF6Y68L*/YWQZX9LC`CA-[%C&\D6&R:V5R-OEVGA(H]JA',-<_L)&Z]3`OZ84
M(U"=.@<BC9>^&!'#?LZ$+PER6W=#92"(:;R/2RP$%-EH:[EG8HNV`7,IMP.&
M!D(#)6X]^P3KBTH['5FU=R++2I1I',XA>_>I%&R:%5Z&?P;R.P+MO)GQ$)`I
MF9)J>7F,@1N9[W#,)[(;/#!#MCX+O=.X0PVN-SD!\[1L>-!$&CH:J>#G5(6H
MG5'".W?BS7XKXB6)9":K"9H=,C22.X+O,"P)4D01H83W<@4T?=S*#CFJ_4>N
M)A#G"S`;<3MBEGZ6HS7)ID18>.M-=M<7QF_[77RAP]]U(UEN!F1^VW)+>\\4
M'Q\->IMBY2HD:<=L%@O-!DP6^ZP:!_M-%&[(C8`_FPH!EFHM`-]KXNT6JLG0
M[LIO6M:WU?;>_P">]_6_^^]*5Q?Y6O>_U?P6O?\`W6];W_BM:N;?5;T^KT^7
MR]/]U_2]OXK_`%5'N2'C`;:F2#&7(0<%NEN93#J%PXK6Q]O/+%96+6B5DH[J
MP>>MOKA[34!6Z+(F16)8V)4K]VI1B`U*U6E7[C2LW.OC1B$MO/\`)#';NH:_
M#\>R;((,+%V"IDCR#REU$W(W?4OK@@.P8;J>\R"-`<<=.9*%9$R*(D"^],$%
M%RJ7J-'9W&24WT('6)E#9<C?$M)R2,*<,*NAMF9H:S\=JB$6([68E)-1(JG9
MMNU_I=L3`2P:Q].H,;Q8?/X<*X6^K+;-&2[SBOAL1+J!F*536AES$F8#:86%
M3KBD:-9!;9[.,2S':D5M5JFWD+=XDMLVMRXUDA=WO1.>2T<I5-;;B1STZP9V
MXGP;`(^PXX=Q'>Y^BY=5HFZAY8EI=)J&>FZY<P\ROTJP\XRR>K4V-=Q%=+?=
MLJ+@XEO!=R\>&4N7394FT;)*LV089>$L2ZQ6DTR2MVH-&A'*KUTQ"YT#"<JX
M,D0B+M5=,:EK)F$_W.VD1C6)(-)*Z3IIMZ,20M:/08CR29/KY#UAS:QSKDBI
MKZRR5KPVZVG$3S<+!B]RJX:B^070I;*1MQ>3=35`9M40X$MWDU<W`,$8*1<=
MZ#XK-_+FG=7KPOEO/ZCFR68QQ?$*L1GI6"XWP]L5.C7%J%CY+'W&DANJ/74O
M+MH@W1"W`\'>[5<:/$F208D-FQ/DO3[[Z5>O=MV.IA.&5B$L,5Q1&BH:X-M]
MQP>I8#3WH36^YDBX\MA5)M#9Z"6V[@,ECF6:W7OS^F"9(G>_QRQ9OVX=+#[Y
MUY<"F9VD_<PXN0G7#&<>'I"W`1R`H9,OQ[MZ-HY!%BPP;<R2T;W6Y@PU)\9M
MWH0J;=O)*<D(I`M5I\L?^471['IDXZVP*R9C9V9.'<&%LC%R;]YC-=KQ26`M
M$*'(KC+I*F5:=((1!Q:HT4,K4Z='AN5J,?:UQ'W0G._04.FYETD1.M@QT=?J
M.0K2NV[LTK$#PB!:2'R2+DAO/Q"B7,%P,%0-7[3>XOI2ZTXO'2=0KU0$@@)J
M^FCKH/G_`*1)-!&E;+@4*7JQW(_XM42G##H:R=^1DBWM4>;=K-6/ELIM>0=;
MB\FHHS#$,@SG(!3(\UM;>0+;BNM(Q*RV8@V^^1--N(]WQ@TA[Y*WA:;;9>*2
M[4`I;[W0AUYV5C$6_<E0JO:MO0)=NW0GV:=&>>&6L(QT0@K3A4S.8#>8971L
M=3U&,TG'`^.GD'R)NI>#<;OR9RP,*.!ONH<`_<IW.&Z%-DY\=J4I=6NUJ=6Z
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M<4<>..`6?'*UZ-Y3#`&60TA@#"*;-J'21EYC2OLG`>65OX6ZTJL^X1DN)/NY
M*C%1A5@O-HLL3H]6BP4(\]S/>+XU.+'A*2PQL!.)[P[C"VF0$KS,@<`K0<!8
MJO'[&J9!N`#O;1<JXW.C5X.1J&@KD)+1[5Q'F="P("W)=6LJ`(2&G@3)<,G.
M>5IQCGGQ)%:5Q/67")>:VO&Y\(%:CC>HJR(TF<;+<LG+&R-7.V61J1$\76?&
M(,U;O6;!2#2F]D?\;<Z@(C/P\V5#]=<7F5[.%$`KJG:5)41($D/GT&P.QPZM
MZ/=T9-IL#2K?R&.AF@]@P:;OF:0.I$N4+R-L]P3E`<:]#,]`SI)%+E.@`Z@3
M^9KB`&RS4>L?2"U]^_>W'XP'FWU2%P-%V"+JUR726$+=&2L03,-\KJ(-\V7%
MKM)RGP+SG-[:&-J8!3WD+$:U)B9FPP<DY])SY43/;*21Y)=S9$(:$V)JRS0'
MC0H??O3VUM!,-0W:.@)GH]<NG0^.OFQ"IONS1R.52KI<V3HY@SAER0'$WWC*
M>3H9+\3O!R@31I:+4&!K]CUK/`*L'IA:H(32+40K>D;IHT#7YK%O,T`-6-I9
M"LTF<<;;G-,J&R6^U<H'G.[70B`L-#"NC4JE+48V.3Z2:3$:J)EI7)@=N[1O
MT)\40/[G"DVD<?$)'7*SB<D#RZVW,V2Y.(6<XH#B-QMZ5;+`:]J/Y$W$9Z-B
MN@0X\V]).!F\<M@@F".C0XEB(TTTAT+H1%TJE;GWZ_DV(R$UZI]R52FA?>&M
MFI=B('.,P-Z/5H^/\2F;0#$HL`O4;'1,`(7FRYNS?7MI0%(.$BJ/E$"XMG97
MC@4J^/OF.97W*;_?#3<BA?.4<81A-(`+(C[;3(E4(@;!QEMLR^&8!/H&^8?+
M.:CE-`FD_+H]#K"(-PW'43V[6RU-H*,CO\5D.N*:&68#.IU:6+@'Z,W]#M0I
M*4E%9!EDCTM&4"Q`M6JW;BY<"+?;A%E\X#@C@!)O@QKC^/(+@GT"5#V4;MX2
M#Q%PX7/J6W(+?%(SDTOUVO4:TE<LNQJ*72Y2',>/*;R&,5M#GB&VX-[/F-,@
MC@RQV<BP;*-LB!);:%3%AR<SCD\;>/SFZ+7>T7\W1;_6O%DOO5)P$ZYY;D=S
M[L'UASLV^4]I]<B+N+>*);%4$M4(Q]R!:@W"L-27$LD0)C5M:_7DSCXDYZ=$
MP*9W+-D_G)RF2XTE_,ZE?KU0I-<A1#'3OB:/3NEOI3>MOZM0)@/UW@-H;$9]
M!'/IO<3<`PJ82CR"..!W@'QZL8<S(L4;<HQ<*)J0RV8MW)^C'TTI/!)H%=KO
MVPDX&`7(2!J<V+M8QJ67:T1+O0X+C1AOO4A&[B6'6P7V-Y1NLSX^N83PB41)
M!KNS/;+V$,*78?U2C)&AVIG/SODE4PR_VDZ];GL?9$BL4NBT.%&]VHO%'BKB
MMM,N)496*%&6WKB_#7+KR/)0#T^Z:0E[?8QA(59CTEIV.JZM/)<?2E"CADDZ
M%(G-Q1.\I!8C_EEF&WZCS%*7=J)$,"&X@0:C>V-O8K#Y`AB.Y(;DI!-#T*.=
MEL\DRF5F\Y%>3[2LX,X&_'C6<_W-V=Y8PM&;W8$B>/\`0Y/87YHRJYO6/;46
M+@*&RI*4E/6WVV^KU_-]O\5/6U_T>OYJ4I2E*4I2E*AYV'"?2LV!X60\U=6$
M>5"3&GM@2))I<='+?D;9*D3MS)?=U1#N2N!2F3A-#HR4H]^1C7BKPMD/P2+D
M2E%OVX7F%:U_3YW]?G>_KZ6M\O6][6^7_P`-O2WK]=_3UO\`.JD^I.2=?3+P
MZ-;2[0YX98#3Y:*QG'+\:L:7/Y+91Z`?X^6)?>05HB4=R,DI!>F)8=;[H#C<
M<5CQT.F1V=L6IE!$@JK7<%GWGSZ`Z#W=)0:_9#DOL26>A>Q6'"\6PTN)-_0`
MAQI06QF:P"B#!P/9O,6:I93L4#,N+6<+M)8:G2Y'&F)N'8X6N3Q4ZL=L4%'G
MQ7+D3L.(YK:TY=,2[/DQD4,@<HF344OB4G6^F-+#SB-Z#SFG';%?/<GGEC?8
M>3^=)>+7*ZQS$>4BC#Z)Y:]:DED3T@.2(5ZW(]`I;O)Y\ZP-*_3_`)`I24#8
MB,JY6R?$B<LIH-SYIB$]<ZE(3HW"VW>X)1LG"L82-;B!FL*/ESI.G=(A**R%
MK<CO=W]M,=]-D@J<_+N4R3?VP^BLE101:SGLXNDN6`L!C>:Q+@<)C5ODYAF$
MS@+2<[$&<?C!+#&L]H1FY'";/H$`\3J'HOGB<'0P,II9;(D:/Y@E+H+J&3-;
M@!QR5>9MJ,G*(<N?89Y\DN'6^,7FU,8=%0]&K*;K^<Z'4*/PV=,_=8VG:R'7
MM1.I#+7IV*I&2$_&#+NB("ZN(>5)6UNR<>=8WT+)+*,/%Q<T/2(XY>33:H)%
MO(RQIYLD-U(;ZD#9#$71@"5*I!:@1:3:^I-6G^P@+_U3`Q>A><^?9UT*M'//
MD&*%C<9,#[F)))RB_P!J\CLU@NJXYX-,]M!/@\%BHQ@WD+M81AT%1<=X9)F4
M4/%&J++ZTCIR>04>]8C1%\>FG2U6IT#TTRUH$PRY$:!,I":GH5U[X4F-%(9X
M:X@#XW,:'M8`<OBOI^XM;)4>*1YAF26,F\8:"."8O'<@]0L?CJ8'1,S'EB3Y
M=CTJX-[$R-!Y"1N>?<4<8,4@#-`XND,:/D.*%#D?2HP%>4:KRSO:32?*-\*X
MK?AR']S+Q&Z;Y`A'K#C^5NAXN'M]LO47T@PFWU"VI!W)Y-TPZ+[!P2CV5TNG
MD8^H$%W8VUG0F]&UYM%#D*3),D<FB1!V*5$I5"DB[:A/07?'9'.B"1^<Y&".
M."'00D]3*D7Q>65PV\>@)2Y_=,5.QPVEP\E"*4\61Y%QA:U2&XU[IROY\E6<
M&2@KC(XM],:XGIZ]?B9K[!S1-GLE:I8K44./DT9ST-9=XHD>("/+"M"Y4!,T
M\&4]&,GGUI=-;W"?#A70D62<8VB(E2,-K.:,US^"&*^WX_.^-I$E"Z"4>T6U
M(*EB>49P<P#&VUSB=SOL[&S_`.+"G$YMX6?C3,.<S&`LY,+V:I]SRXO"B%;1
MVJV_+!(/J0[A2&0,HBO('G-!:2]XCJIT@H>GGN]2QV_%JD,(U'A![@Z)LX2L
MT@[R%*FLXF?;H(3,C<B,^^6TY0@<V5TCW,C((7*E1F.UYJ:G6CFZKYN<,NMB
M=W*RHCZ)[.2M%^2:RWDA5`H9DSD6`R+#S,'GJ*%.U:((2P5DYKAB;Q2(W!K)
M"50!<&:R04/;@C]"M*5I3HZ#6_TQ`\M\_NMROIG-N86"XX]..B,W)FT7X#%N
M9!L'K"#7<.*5=K'E=.G9E[K)6@7CU.O+:B)(%P]2J2;NW@V)0D"0U%<)-LZ\
M70WXEC]I1T%<4A.-4[GP;%L\(C!(2CK<BS#7N,GEJ=%KWDEUM";3L49YXI4B
M1+AH3:M`]"P[(;^Z8X3DQJ#!2QGP)*<Q.^25*XYH&DDHA^<ZR/$`/Z`&;$^Z
MYQ7K<3W0D"6C)2.Q2A42[?HW+%UTP]1"J3(0Z3Z?F^#>D;1)KA)ZQ<Y\6>UB
M">0V\91BV\Q.HUZQ_$9@#W'M[">H4G.$`+9=D/L\BW\G3"DRIL7<V=;1<MQ<
MMZ.TD?G?I3H'[[-1*_-\0:RDJ,(5%34*+ID1N3%?`C1F)$XTL/MP+H8:3)A/
M1],M>^'J4F!0Y,233FL@PM@;',)'C:/A-U\JH^DX%:@?G@[%IM\!`4:3;)+&
MDQUR8`*.P:LPF$IG#$$S6=T(U/W<2::89E$N=L\:7"Y%SI.A7*0?.]SN3:MD
M1VZ-?_!;A<,3<J1/IBEO;YHBY`*D8?VT->HH._H`GT[+#6E&>#;61Z4@]\%F
M_+11:_")8"`+*6S(?M)&%)@A*UR6QP(Y`<^<T%&9UO,O1(:'P?-@61&\]6S*
M+-9ST&G&[T=)7[+.+@8W29UMM=.-;XQYZ&$E+("SE.BD4EN#?(I%K.K(@(CU
MM'#'7<KPI./+SSGR)[,0`_(ME?K&9.GV=-N#I"#=XD/T3(2R67RRI%9*N]G6
ML>D?.Q><`,HRV]9EO.MI?<3O+E&F0&&4>BNEO>/[LIOF^=%&MAL-,KAV=@<M
M)W>#F78G,(P)[R*=`SM,#,69DABC4/1.3GN5&@,QQC@&W2+Y)_=\T)2<SD;;
M9C("K]K9\?77X%D1R`&`1>:Z/Y\2/MB8/]UQ8Z$N]OJVQ`H=V#.H4S<$`$DN
MKTJIIOM-&'5D16BWK,0E;C)=K_!NYU/Z8$3LLQ[2Y*</:1,9#CU)*V[SEE%<
MMX.A>W][-+.!P2-(@!5%X=+9MO-K'$PW6S(]<K[<#;=X]5H*"WX7`KD62/Z#
M]_N^*.&IWNVX%CISN]W-EVSY'4%J&(YH25JVA>+9NF)NIB+?;TM'IDV-;?(+
M11/##$&]7,VQ*?/0'6XE0"?`K>^!1?@U^-GK.'CUZLY2D=OC8)?W3K<Z"`N9
MZ!GHBE0@X'K-X15M.S([=@YMM`;IVF'@86XYQJ(NJ&@F`&"-(2X4Z7%*E$=M
M(S;ZKFKFP&P';S7&X)U"'+`:&2FILE`,9;;S;#6EIA$I7VQ(J';!PM8"NSFJ
M1-M-J3D.%MEZY[1+&E&.RS8N?"EJAX6XEGG?.,?P8\VSJ_9K@&#_`!N.9--.
M,KKR::($$-=X]@/YZ*6F3LG#J7<=?G,25E0JM!`1"9/BV7<W6<_=8&/UNO7?
M<\?^-/J%@-_%QD8OAI[O(ERA&'/QT<JD\ID92#F/Y`9'F]V@A9G,8!1NE.>Y
MZDO2-:R%UN!&R"CI9UH]E0(;C0R0'&I2^/KB_HZ`)B8CMEM&!LVF=S'-4')E
M"9_)G871YF>Y)(F>+`Z-.F!A4F+7#PB;:01+9`F#H&VK':VF*;(\,-1WT73U
M$#M%B=CR#'3&$\3SC',"2,/F>-3[[=4EQ_A(H@["XHFHVR.RA8C8E6X)#K@0
MYH[(UUM2/?O3I%8=(X6@J*:G6(E]\[6OZW_^*_K:WK?T];^GI;TOZWM;T^7I
M?UO]M4U.0B%B3O.5NG`S@D5^1PUHVE??UJ'?'-RMQ+^>D471A'ZZ/SO,[V;\
M+AII<09Z(=)5$8BMG..:&O(*DHZ7HT1P-P-]W;"D<Y^COH^6^QFC,YZ"-<NP
M@^^0O(RSF@XX>EE[9&%,(OR+(05Q*P$*9="8(3%4D3,0&_226ZYW'211V.$\
ML2%=X>)VX!(=/&T$$WOQIT`TI#BMK39+[TD-@P5%70Z^#%#;'.S*6XJAB#,9
M@&PHYVM\!"[HY\8ZI0T)8/@`R)N.LM$)-RZE8#(JJC=E2M[K7Q8[N29#YJA9
MH.=S.7E.=>`VHHCD1$LBKR;/0->>.>)';Q=F:%#0RNZF\`A\24,[7VPLSK>#
MI`+H'*S:0H!.(4>2E`L..GR4QH4$1A)+->L)$I1)+)*&0)+FL--+[F>)1X8X
M/-3=@R?V/;Q*P6$!$[%^P^]LQ[@E9)'S6::5*1CC8E*;-\;K3(M_EQ_M#4!<
M<6;/OK>^%+=1*F8J9A($V'QV+.CQ8#E;K;=C>3(\PY)FN=O.QI*=@-<WBPM<
M/WX:5J+=LTW@<Z)[\B2:,HR422Y9*A#%4^7IS+,DJMWFO5+7T#),+LM^-]O]
M%MMDL5NKG0ABGJ27<090*15`#[+$H&ZU&GI1M0=):LQCT,G2IW8YW'+#`7O:
M?OHAM2MQDY=SU@^'-#>4MN/!O6'-+4Z#:IZ)'!$#_=`5PZ8])2E(P4O&\K]"
M1_+48(7)O68L]5'Q]L.WZP?3W=FK'>YGN\I4%(<I\:L2]1,0=R,71&>2F6IF
M9^#4DKQ@[R:$Z%D\$YF8GC(`K.MIM2^U$C&<A'H(E=E8!UH55TX>$IR5^%41
M%0EE2@Y23?Z><)^;8W5,U2T)3F3E\#Y*G7(L[MP.S+M]LX&%<O\`.V)Q<F:C
M:"C1DEM\ZJ:34'J$SE0AU,A>FA,02,OY3F?G*(G,;VZ>U>-=KR<C,AU["-F]
MAQ4EF\H'P4@5+8%+!"6/43]*"RC@)!`XUNV>*!FF7$EVZ-P@1"UM]B^0M3&3
MH,X$IT*6'N3GA]ML>ZH)4QQ+CT;,@\Q.=P29$[2<>/-1^(FS)[3FL2D5!XQ>
MS8)M$H^$A'F=5/XOZ8!2)>UGCB7I_>?0'5S0EW:ZS+/;3AR*QDXMC9S:C*$`
MELF2H%3,!>V7''+,>32DMG-P"W4QS!.^INCF3F5BS)L9+V;FU_&68@B;&FWH
M=I]O,?MQ;'[MO%G;-W]S2]FILWRPM<L?MF/B)MT<0/N28B41.FO!X@%]#RNS
MY/<NXN=&HW+TD")N/=I'B[+$^?=;9"I+-0BS.B^>2K&E\L_HEDHK)<%1].75
M%X\9_/D\MJ3(Z:;$F!FP*U;M*1I5?2+,,03[AK<&-&/U3X=;P+$!Z-N)2N/^
M2*?.J&)T`(C#G&6WZT'(1XOE^7XMCEF1*R9+22ET@Q.@H":$:,MX9GF`YCPU
MA/@;(#@:+VNA<[)U#V^LVNQ`Z6RJ;*LMEKG";^UT(,.=DN4^C6FQY(Z"[ICY
MROL!SPSB)>"$<-/V4T?%Z=M,M-"7TZ484],ZP0@6D-U!GJ*?I5LQ8VVX1:6<
MEF5#AT2V`?4"Z29'Z`F:/7DIG$I)'@^6G`*[G%MO]GL0@X[,`!V?JAO:>BQ[
M%0HB*VR\YF'.ATM)VDBD5Z%YI<6<J$_KU%+;D@.4^XX_>',3*?3LG]\HS_1/
M138F%M.V-DS9?R<65[,E`,QWPA<Q""MD>RA$(N)$0(J[VV'>44NUC1\X1\OQ
M:ZI#;(NT;B=^=02AU,VNL7FW8IV2.):)4SXM&LF=C6@`"Y\4K0D7I#H9N=;H
MT\C+HI/V7"F7%&R/GJ=VG#I8;#^\QH=&C2!1.0ZG+099\Z^11OW<4COUU]0[
M4&+#Y\8#H/EN8U)48VXY:_<7:<7S9.*"/F=%39(*)2QA(!S`^G3=K8;55VA*
M!:6VY&AYDMH$&:>ZW;,/D%;J5\%!,R3D^A$2\V\@/-&;`\;BQ8N4=LD="S2Q
M>EI"PCW8SRC]<KUB[FK1&$P)(D9,@`GA=SZQ;CW,%'H<F^&;^MRR]W=O5M%C
M-&798EL5(D"3:G:+Q9L'90D_DKD+M#IYRQ!)A0#(,3/1M2&UT]P,7,!<>%O"
M%),9KR!QT\"L+.EJ3\IV!MO<32]U9>=(.C&23$R/6-2?*4:KB:ATQXI8C@8D
MA"X.C(VZ-$V@GC#346G,3SP,G$[4E=A22G6I'DD/PU)4-ZR(!%))2[RE*4I2
ME*4I2N+W]+7O\OSW]+>OXO6_I?T_C]+_`,50A,]_<TQ[J?*J8)HAYDI&N^IF
M;"3,8[W"Y%%Q$"J&2@E0BZ4FUC!-S<,QNN>XG.2AJ"SC;K)#K!YY:\5(O:34
M"/GW>0KB]*KEQ>:EQM-^\&2(<AMZ&#XHP@QU'P#';DH/#$#OR#[5IYHM9JF4
M#@=CH$ZE#5!C$"AQ%B*9O:D)M5VI3R&<5!=[R2J^A(]RV,!84'.KZ.W%B^D:
M1!IUQ%P#].\.(7IRJ]NA!:QSN1&%VDE+?:">[Q,ZD+6RU&,_EESOSD&,VF\3
MSNDT,XF\V+L=`=R:P0R^1:_?(QZ-6XV1HXF&$D&R?4J%TPQ@H*(QI9=M;XE]
M-<RX-0T8<&*54@8ZG2*)8-.L#'CQ'N@FRU&21P6')BF*/5MT'#[75_1Y96/3
M"3^H6ZFJYVH9WM]<5T`W6W3S8,;$)X00'I]M7QQO\KVM>WS^NUOQVO:_Z;7O
M:_VVO>E[6O;TO:U[?+Y7M\OE\[?HO]5+XXWOZWQQO?Y_.]K>OS^=_P!-_G?[
M?QUQ;'&WU8XV_BM;[?7[/M^?\?SKGV<?3T]+>GU>GI;T]/3T]/3ZOJM:W\5O
M2GI;U]KTMZVMZ6OZ6];6O]=O7Z_3^"N/8P]KV_8Q]K_XO9M[7U>GU^GK]7R^
MOZOE7-\<;W];XVO>]O2][VM>][?.WI_%Z7O\OX;UBZQC,H@[0S]7M%LK7RW1
M)<`WWDK`BU+I!@S^U'O/!@[@W)<RPP4;WCQ^XN.1*]",GN0(=JW3OV(TV6J$
M?5D?]Z!7F*G3C*8V:[M;>%_"O'BF?@K?#Q!+2+3M3;%*Y@3LTVCMEJ$99V(-
M"M&%+N)1)D2$5ZS1K<;&#Z+J3NGZN5O(7#W2#N+PBYP3NYMZ]98NY21.1)Z1
MC6M,@(?ISS3*W<R/@UY!KS;%&Y5JS^B9=A\V[68M2;D.1-4")*KB=,^K7M>U
MKVO:]K_.U[7];7M]MKV^NN:4I4`^@^X6!S;,Y9KO\D\%(4#"T</Q8U&M&:8\
MK7*I;Z8:G.;4,#'A=[H56]0@=[G&##C-Q:%[:1)+6Z4[B4;4F8#;I[=Y;H41
M.]*%,1A-3;;H]@=!.-]GS3>;&]>R7[S_`-,,GE`W$>]M-IY.(DYW@;EQZA@X
M9:R\G(VB&IPM%<.-+1I!Q+VIW)3RR\_@MN.!Z-^C`>"%D.:1G;O*18D2ZF4S
M6M*Q"%51U?;)V?$.]"8D/0%#,_=%::0<'KH=@$DULBJ#4X][>S!+Y+H66%HU
M:VM@3:E?\JGY7;S3CTZT6PTW0550V6:HQX;VUM=SY`MR2DOP[R!.)!^Q$?D%
M9DSKFGD31BVXSW@0`_+RUY)XRZ:70"TDD?R$QY(G?GEC=+I6<X]C&MN:\9R(
M'<Q=KGUF.EZY'7,`67;"@.O=C&;KG;#5<A9KME^%&BXG4$$JK'J5`+R>SS)7
M,_%<FS+$1A(!?S:=\`"!!1<'%GTVA"_>CHCCMRZM@LRF5C]^2QJNPVAT[=VC
M/8CW*=:Y+?6K3:-N$^L+WRQO>_U^WLM^;'9EC;_=:U>=*4KCT^=[_/UO:UOK
MOZ?+[+>OI:_S^=[6];_C^JU<TI6!2'*<9Q&(&N"5)#8\:@C+E`,P09?SL`L\
M44=SJ6XC6RUQQ%PKQR1:X7"1RQ0A`R;=L(E%=_<(D^[9ZVMGOK;T]?6WI;U]
M;_BMZ?7^C\=5U29WU$H>4>G88^Y5+):3EN#G!*W0(L&]HW+/44*1L.S[T-M#
M!B\YC(CH'N(*M$"M#QU!=,?8N,EO;1(]J)!S&A+]:?OD.FAM#+!*+#2\8HZ0
MY]YSP71^]&4^X\+_`'QCLB)K,V4V+)J=4%!R#&@E5,C=&N1<UQJHRA=0ET-E
M('68!=QG/8_6'6X3ES7'"-8TE+I.2>3?"!M)E3E$LL&L5QZPR\B%6WH<YS0K
M1K)"=`0*N11FP]"7)<]C2=;INM"A@YHV/UHV^[([43DX8QU1R4:*%$J;ZB37
M&X23;;;Q8I(_S4BZ+2/F5(SV9V<S;BA$P4>$=$9>-$+C$4O!%498C=F`G88U
M;5YLZY9?1T1.'H9!I#LJ#TV.XVUWDY7XU=BQ:P$S?3.;)]/\,.4;TD0)5C>6
M(74E;+T/6=XII$AQ1\A644VJ@"+8#EZEYH9B-<O=O0<*-I&-NGLO4'939`S6
MCR6,=3)J/%1\8<U9:\EL;HU3_18WQ]5C*3[G2FMM":\EUL@&3O!YOX?Z'F&+
MROQ99J@TMQK_`&JMNH./MM8/1DA]&20OL]Z4>+/VZW6UD&N^2EPMK;K.B=2P
M3GBKOC2?J?FE4A1%$\\1)M'$GA:/T*[&0&S\*H>MTX99K;&K=<E[O$QN1N-M
MJ]"2]\,E*5QMU3IOLT'1&Q9CS&[,Y4D<`W',T)[BTJ%>#_<T8-59@]`>BS@?
M33?"F.2C?$Z]R[7M4+=KPTZ`XO####Z94%@/T;\5]/A[+>C:G9,5OSK-U<EL
ML@)=KE94)Z)?=+E;;M;1X:WU.R5"\5*6$=$C%JHN%<Z0N&5J]GTG@F3[->E4
MCU8Y+!Z[#1AD8]HKIGLO>T50:^7O`6J<24!!I;#GVUN6.=P-B2U<0/N2`K!S
MW?2V^#&3(@P\`+OO:9UN)2E;9YVBX_6,5.C<Y#O^=NYH)GN-H%=ZIWM6,WMT
M!%0R7&K#;T?C4UR+I;2X8XC&[;D+TD=69/0A'-%V+MQ$;IV#U"!K.5>EV;D(
M`MO1[9%=.\YF\6CM$3C%1'!_.)6T&;DD?C<WV<KJ0JA"!2V@UL2-[JSFI<X&
M^B^BM5OC,UI\$DUZ=BDR-U*L+Z<Z[C#E)1!VF1]9O=KG&;63"HI6&3:U21IJ
M7P0T@4;\>V_;MU:@,>"G679S3-.95GBC0.%^-`=LS]^8389[JDQU.1GLLH=9
MK$*R4[->P<@;[*$DAX786*EB:07HN2/E+9C6^`&9*\BKC.J-*[,8#0KU*$6:
M(XHA"Z*L0S;SW*4;@N\Y(;`2`7(UA,GP0\'9,)UMMTA&.33FY;&4G1PO?GTS
MJ:!!H+YHCI-8.72+K!WKN'M$XDTZ5NQ`C2;;#=@<GN38R4[?Z6@8VHD@B1$1
M\F$RZQ%ZMZE!#DWLTL.:J9(?VJCBT8[DJEK$DH[5OVH7$GW!5>&DCKR3VTS-
M'D+@&.FA'9F/7I'\S.*7YJ&<]QH";,K,<0&*2H2:9=]8`W`[UJ]:A:R74UA&
M"WXO>.(;E"AQ,M.F0[-#K%K<NSC3OKGUV:&L&?4A1C&TGG8O=$R$8Z_9@CQ_
MV;C";,FE(J5$UCW8Q@BR"ZG4[A2X"N2-XJ5Q0.82Y&[J4+5C=6;L]Y.6=F2/
M;D3NUL.6/G4VY@?S-9;0/92@SF\&<6IV8D5-E;**%%N2)^F]`L41)CF8V=JE
MPN%.@(6%Z[W0*LM>MB_>7&(@.G.[>G8.)"E3PB)AXK`$GL]PZ=;GG8GF-BA&
MHW!C"S!+H>ETY(@%)J,]0]2%"'S&"KZ/"$]R;,3W6W++5U.?<Z.BH2;6AF$T
M`5U;W%*+-":`)8IK/;1@\CN*&DNO0L(8M1T_!:?:OM5;6RXM.BVQ0#*ZTG8*
M.GN<DMW+;?.,5X798D*==&-WVWLL@@5QD$X@$67X8D,LL4)8LK2BD*O''9KW
ME5.@;CG\?OUI\\(1=R\@KBLB"]/1<18[(J4L=&^5V]^-W0'![9&9B:0V?EL+
M;B.(Y0G+LE8E<N!!+NVH=(?==8H5Z].E7DGE9KV:]VO#;JV8;=6W#'9KV:\L
M<]>S7GC;+#/#/&]\<\,\;VRQRQO?'+&]KVO>U[7KSI2E*4I2E*5XY8VRQRQO
M\K96OC?T^OTO;TOZ?P^GU?7\_P`5ZJ">WB>'O0S,111.QA#KEY-Y!D2U-ICT
M5NR"I?("SXR9SKQ1[]KJQLKW1REBX2L:VQ0GUX%U1$EB<U7T72X:/:6\5&F[
MRQD-M3>ETNC*1G,]E:"0(09$HL)<*D[GV#('EMM[V:<-H;V4$_O>H\D"-W)J
M-:U\?.A,3$'$TCLDP5;BSL#7BWU;%_W4-J9QR9Z#^GYJZ$![7W"+/D9@Y@Y^
M8X9@O^,73&ZQP`QAQ'H%MX$;9[L"$V>4;CJ$)=N8TDT51EFE.7YXK0CW=DO.
M75,A)GZI-;\6BO@60P1C:TE"\*2-`DDQ0[I9`BW*DC24';'ZR"4S0;+N01Q'
MSUUQL^7.PB[I+-\2Q$S4DIS=R!?GZ8.@9:UR)L+WGTWK<)QDMIK9,%BV<]G6
M\G"LD4RT$CH/M15+I\8YQ34>D@LQOQWG(0IG@#+^"N5YXJ'+E-6E*4I2E*5%
M3JOBSG?LQIB&S.3'N4*L\G9Q1A)C5,EV',D,O+3EJW(7O#LLM)6*?$=.E"K3
M(U7QC?+IT16R34@<(XT)S4#M\!\IC[D\;^7P'38IZ=]\8BL;8I>LXI96E;U_
M!S>T;L->M1U#S\QA>A'.C2`C-F*@[.W/HI*\DX\00-O2$E&>U2>O:?"\X1!T
M7&[9E^"I(9LL1B\45ES:>[$/CW&WBFJU_9WZ=:X?NVXIR*#?;-&6$+<4I<,0
MTJ!Q9"B7)]Z?7M2E*AW.O#4$]$O==(,CI'>H<)%C,&/%68-Y%0"+)M1G-S;Z
M(:.C6B06MJT+D,K-)OGU)31?6O(HT%V\NW;F^K6CE.MW'XP>4';J=>)\`^UB
MAYJI]7F"":4'H'(ZU_1TN,R?7ZO#K`9(9M`D1<VQ^T91CPD'^#7QP[0R54TE
M`Y':Z&NX,>.?GMX)W!C):F4)4)O&!S//#V<3\DP^N<+J9)Q\8R0I*JR0>P/(
M&^4+VT#W`W'DS=38*-%6($:VM]#IAVC3;MR'!L5.1!&(Y_/29I.U1J[&T_,]
MDBR%=U;GP^&2\F\_&0\GEDL"8Z\74SC[5!8-]PLO4RRZ4!H)M'<L4M5SNL.=
M\8Y\?T"1>X(#,-O.050WF$,E#P:U'.^B+N`1W\`P'9%*)<W-SB3D',+WXQH\
MB[*)(1[D2`'.*3-U4[@K@-M)KE1,W_JI53_FZ_>V)K_TA<G?VQN?ZM<U?N;_
M`.<W?\7.O92E*4I2H^]'<J<\=<M%LL/I*)VK+[09TA-256T`=VA9O0"7^R=R
MK:W'#IP1+$6S;M1X+EZ)6A4[-XHP*($`QI`1$KU:+=('T]+7M;Y?7>WK\[>M
M[WOZWMZV]?G?ZO6WYJ@#+W)$B3O)IU\O236JS%C,CWH*/.='K%+/.`)08HSH
M:/&\S"JYXN(L\"6!=2S2`7:XQB5H;6F-<1S0U#:Q,`*L]+N7ZG%>/`\*YS(P
MDTWC'$9("/7L(]3AF.Q60Y<X.BQ+#<J0]+J^,8@8BQY(U[.;4E/>)5SM/IT1
M9*WV^[Y/?)T&U=F>WW9+LNF>2IUZ_0/UH2H<AO*.P4H.O]AMNKFD[<QRUA.>
M)P(-NR`[T@U_+"*+H.!Y;W.!^PC*+0.M/,<H3CEX]JL!Y)`S[&]"_?&;C)TI
MG7._944G1;JB9WQ"Y9!^#+(.@7%&3\Y;QYP=<)'WBE.8M8Y#1!W89=3I&Z2;
M2C`-T)L4.<6.3*5B\RKR>"/'RO83"Z;!OR0&RN=73,-QQ!+@*1FQLV8U4+;B
M:$3<(-Q\XM%<<*IM\A.(6>6EW-M3J40A.,%LQCH,%0UGZ3I70L.>+B7F"^HF
MD5XSS%CC+1TYX!="T(*AES"Q!E;`?#LX<4#$Z)82E0HK&Z7"*F;.1%6>](04
M"RK>LWTV:E&2L3'Y5''B8%M9F,1D.&9UZX6&\?[?XK?V+-:"%K:GD\F!&[HA
M2+NC1R<D4<VQO/5E0[)4J,]$#5*SJ!5I<H#XM>H3,L/JOT0_Q@21I;\,*-3]
M@*/)9C%X-TFNEOG^%')"QXBA9Z..&R/*[4H:02J=Z)7FQ6*M:<FPG+V4@P:;
M!$VD(`M]O;HQ`G27+=\4!)H2&VW#^R##TALG8IE9N.YLRM`B5U$Q;">?7$G=
M?,<I&A4B\2(X+*C)=4I'6R3-.4,X66Z,@L>/[2S03D8"="<VYQIX_GWS/(\>
MO!U2ZTWX&B3E++D)GIP\>D6XY'*R6[,>Z2&`^WR;4.PFAVOG2!V8@GYK&BM@
M]VNK(B^$"L!B6W-W1M7F'EF4^5$)>&F!(;,6\SHI)DF2XW#EFJ:V2PS$,I2"
MYI:<$4K7+D<4MAQ-(<_G>>U-QV*02=VCX^4IFDJ3D'"/3OV\$VAXBI?:Z/FE
MOK.CXV=38YN#0L@"C#T$E<QIS=&</=00XYDIMNZ)-Q%N0*^4/0^MP9)GLH=*
M]N:13E88-<C:#Q6:].Q8]\8<EL9=SVO23GH';X0D90<`+QI&82[E9L2[WA$S
MB)\Z`G4\Y(<)&58#<(R,%09'&_1VF3\HM4G66=BUU!"D'L':ID[U#P>W>NB4
MR)Y>=)14SWMSYMA"-`39/2*S%D<$#9A>Z7D]RJEL/L<&?:\T[!<4G1*$NW].
MEM*HD!9)]BW,L0RUY"8YJF]9%^:L7T@=']4+X?;L7&9<VJ)640GF81_1"5U2
M:`Y9TS`E8+<?+A1H2*L083$E)9L'"]EN1@XB07'KXX=?<RS0I\7\K\Y-,(Q9
M#DC>/;(IDM*'(X),9GV$()>9;@0"TK5>DFO0L3V"@`Q<5=YAP2)F2>16QHIE
MN0+2NE+AB:+Q2*S+VZ&?#HEX6,OU/#G;D;24A83#5-X@V3791J)L][LCTNM<
MBC$?O8K6A-F(UJ,Z%6*WT\23I>!E8)UK=+;T]VW_`!N22KE6.)Y?DN1SLE)M
M3=S1)CWU,>+BC=93T`<P0+,T%-X<.#;7=M6-IVO31.+G<Y=Q*5;@'-L:"9<>
MC`I@6`^Z%7@P;Q'&@K:5"ETKL)\7*Q9+T9N,&Y8X>P0(732+W23[5!EV^>9,
MM@WW'+C:*EP%V6)>#8.[G:WW&/:4MLDJV'`W]83?*,MQ7(9Z"^-XS<$X[74\
MN7ITB*;'!(+Q;J@\6DS*+M[L4XMPBL3%@I"QDMK<J4>ND@WD;/%\Q.]R.429
M<1XDHQB='GB$=C"!PJ+T3^U%*R%8OX:8HQ=KAXDG2N`YQ3UJ]NFT#A)C\),Q
MV)1DB)7V39R\&F([5C<(I=3KT'C&I8I;V':1KXG#S!#PVW;O^$MFOGSH*'9#
M9+Z#\_:P<J2)$\./1\OP$Q9A=B-Y>P3>615Z6PV.=MI!K04.%":DA8P-[J=^
MY.!^O\%.22MN3V?<W!1\>MD=U/2*GWLBUYQYT&,"/Z?-O11D,Y.A(OD8!(C7
M?#&?/T?NC*78:5L4]B5;[4=S^!.XHW_@"7SNOQ62:79KT$:NC$!MY/4CSZ\;
M2@O:CR8DH,N7X7Y"T\HJY?8CUBR1VVG#G3>(\>^%334--6Q72"*R#"TB`73'
M#^7Z1]SH5"J&!Q0Y:ON46(1R%&J)71I!UR"E*DTI]ZZZ!!KU(45U>W7FINC1
MZ]:1+[WX=-AAHUZ\;=G2E*4I2E*4I2E*4I2E*4I2E*5Q?&V5O2]O7Y^MOMM?
M\5[7M\[7M^*]KVO:JKYK\;FX1)#FZ=\?TIWXNZA<JOZ:?Z04W\G1RQTR2T[<
M%.2;IWG5.1"`3ITK;!0.O.$<*V1.0'645K[.MR:M.(11XPCY*<!LE-KE[OR,
M-G%753C4?1##P/GLG)S'TP0T9ZT^2SESHK</#MIV%B&6Y$KRA=]Z69.0'Z42
MC]S/.X:-AC=:E;*V5O6U_7Y^E_MM?\=KVO\`.U[?CM>UKVKFE*4I2E5/^;K]
M[8FO_2%R=_;&Y_JUS5^YO_G-W_%SKV4I2E*4J(/:'0TR\VQVQW?"'*,C]?.9
MTS/&L;&V#&9T0WR[/9CS**$3BE0HL+HB&C8!9FG3HR6:,M*5%9002*3YQL-M
M.7<0Z7MK^OXO3YWM^B][6O\`G^O\]5M.=Z265[PZ*AJTUN)B1MJX$A>1PNS'
M0T<1L6.P_-G1#1>,A`5),)CJU%E+69X3/>0>"QP"1.\.F7:$&E#H5H56,PXJ
MZP%\5=6K(]>QJ6I+^*Z+.<%D)67!ELA%V*L9>1+G)))10TG'X%U)EXX$RK2*
MOS7I.+8P*,3*0MUBN!S;C!]L=0="*(SG#8U7]/`E@17Y&?&K#[/=DNC0^$J$
M-4P2!RJ"ZT@5W$RPHBJ+MQLN:3'&"7D$6L0>;SD-N6/PI[6UF>*0:Y6=2N#M
M,-U$8:[%<.L`#FV#YLCOBDZU9*0[F<U.D6E`#L?2)5U1#3EBKXE4-(F]!HRR
M)%9$F.P.'NSVZWGA'"7<7UK#&L&!VDZ>=-4;-/K!Z2!I'-V0I^V+]J/8"DIW
MZF@+D,`WFP!F-\`EB@4YQW,[-FF)!<TN)AKG(?=4K.]LA`.+LPC.6-]I)'GI
M($S^2"1^:"TDOB*(M@WDV&)L:+>8!NS3/S&_9GDV9F6XWD3<&H=L*&6A"B*+
MFT"1,]`JR:V]U2(H7R(+<>N[30#(D%.VYKY:?W7`H\[M'4JR.0G+R!DH'<ZD
M$=Z74I%\.RG.<M.QB!&$PGDI7$Y#51+L<)-OM4`O!M?<Y2#Z,$FU&;6,J1^\
M7%Y2CZ(X;$@.<G:3S6PU&,RQ8&SUO\F]97:3V!P0X'DY(W;[-C!T"Y430PAF
M<EKE",(K<CMZ1%;6*A7!X2.`96C@P1[?K/I!ZO+D#D*<84=I,2JF_I'B`4JO
M"+X%K]+L8DYRPTVB]F>W'H[P3;2;AQIO.(@D0&S8-EG1JS2F5[TS7.)-R)-C
M/-G8\GLKECR(O*7$SI>\E<&R/T/EMBZ2S341R8+8+(A]O3U%['D658V`EXR=
M;C=#!/(SXEYLI"XOHAIN=IMU]["LC-UX+EF(HO++,!%^/""A?'J<]T,U6U>5
MDK.;L_-+)B.>'=\30_*H]8-D-\-N/-@^1O274+0<K7)-C!LLM<*N\C3SS8!D
M:=OF^/DUE(_*YF(65SFQU;D,3UT;S[#EG)/J@)=^.SF&-MDNO=2X\M$1K1+0
M2.-G*!"!H:1)QZ*=CDW'U16R5DMC-V%NO>'E9>@&/^@II`<N;7-#<#M^;DRU
MUWG.-T.\K*$!*&JF=K)P0B_NE7;AKB4$GII9[B!#3F>21EC'.Y!8)E/X*Y!V
M-&_*3,(.97\Q#,+P\W`<(-WM_P#9-4F)^7CT!MS\V+N.MT<?<H[3<2AQHT4^
M@W7;(2E$[B'(R2=X;##?"8&KAFWE(.3X>4F3"C0`J&?R<6>4D;GITBP2[-1/
M4\+%EG3SGU1&?,A%OLLBNB_8\=AUTI9)PF-.)>,>M9>VV(U',D-I\R(\@H%R
MDYH[!>71DCN(=H@_:VH4]],PABR^HD=E%-SF=4$362A1X`5;"2K;.A)8J2$$
MW,&7(TJW%O#$7T+(B=I.4F"0%(*G/*JZ8C9KS,I8(6/-$T1'=4W/7<[.@E"P
MN.9?*?D"RY9D-OLK=^PUKU$=ZD<=^[2)FT5R!!Q0L8EC4XYDNM'I>2S+VSY,
M9_)'WXQA_-+8DF0PTQ]J:&^VV?,8!JI-D$\@]"M.`S)HF:DH8TAZ5[EU[J3&
M,<MBC8R!*?1M4O%RL\>O%[,NXMY.II,V2CV5R>WW6ZWQ('8K-AEJCN@PR8@]
M$G#TENF,Y6).18Z6(T`S3W.TTA9MX]2AR3VQU('&XS[XVM=NL?>1.=>__)[*
M>EW$H_94)L]NO%!TKR7&"1O2H_G,'-.&)>AIU%Q/>66P3:\:.V,7VSR.S=L&
M#WC$LC28&93GW$FM(*<,]0*)LN2Z3#*^6&&5[8VOECCE>V.7M8^M[6O?V<KV
MQ]JWK?Y7]+>MO2_I;U]+>5*4I2E*4I2E*4I2E*4I2E*4I2E*4I6IIO@B'.DX
MT<T.SU&C-EJ,'@EQ2.)DOL$B<``C;5E;8D5?"+=>=T94:HQUK0YL=L1F0I#2
MG(B"")<GT*-=5UXE[M\;?_GN;"+S\@_%HK#&ZCE>3WAJ5]GP4WM&W5[>CFB>
M7H23#.A&>"&[%=A$(SV2&/\`3H10L&S)G)[-ND)>P+E3M#GCLUFE';!3ZP-+
M6H2^YV2H[<8DJR9=AUXZO>X+6/,,5.I*+>\<.Q"H3JD^0UQB$N@C9-L6@EI<
M5GH(;I44I2E*54_YNOWMB:_](7)W]L;G^K7-7[F_^<W?\7.O92E*4KB][8V]
M;W]/Z[W^RUOKO>_XK6];W_%:JNIX\D2;"37'RQPU&2OL_KH#GB.>@!LF;-WG
MOFQ6LMLP3%^K^A,D9!KQYL2X:5BW3$S4UO&='+9!=`,88_4NT&M-B$;Z)!T1
MXQ=$N+6@4E/4T6YA)!!@CBXEB+7WB(26=BEEBW"N*'A[4VG?C\FZD-D5QC0(
MNDUDE6];;?G?-JU$ZH!A%\F7DX7G$\?NHY(D?VB=^%7`U1!9>\HOLJ5+K1TY
MU*U+NV&V/9:O(++-8A?>%LK)$E-D5MQ%;GOQAH\G<SQ^F&I&%!,6,?4%+N]P
MAKLYEA6QO$.)_-1&Q7DXA:L&E0*Q[@<C,'#VL5.)-^DJI`($8JZS%&ET:L,F
M(0!"15@@HL)Q0P"$<-@X)=#?8ZMK"-[7#N8"=^ZH*Y$`7--=%H<(IU__`*5(
M#EM5RJ9T6LX]:RQNUE]?4`A")&M(SMEQO1ZU@\DOK/5M=KR0B].DZ<4:Q80)
ML5K%=O6UEBP0VFV-)K4^O0K+HFZ!3%=RS4''8INO<'/4(.M"QAKEBMBG4,:N
MC-ZL1,5;H];K:SJVD=IA0<$6WZL[IR"LONR++MM\MF*\KAI)+<%"Y,F4:?.3
MN?X8F4FTS<G1NU7F;8N9>[1-F!N.9IOZ'#H3IG$/&&$V:8EH#N-.C1Z7$$^*
MR#'M:)%B70+?@TWNL4>7(?+LA%"AQ[<_Q&Z#)PD&+&RQEB`%I$PO;[(.1F%V
ME5NQ'\00P'1PYW''Z9,KV;4F+).EFKEHR!D%*'9UF?%G*66.[#&`HRT8;@S7
M!X8)&TF18HD;*1LX>TMXJR3+18,7;J".V`A$N`1\"?1HV.T$VHI;0V@VM%GK
M@Y[@YV,!JQ6YXG8+@CACK&\19[(,-@60;+9)M+]LURH00I3[$8XLW-O_`)D&
M43:\"`M;_P">1*=*S^[UA3RY3B0QS;,G,+";#?AM@32PY39!_&-6NWP>2'=,
M#?+MYX.Y(.TH]0I<[E>HTK)9EC*=?DO+8Z%)?$CJPST;,7!\(\JH(]CJ/C\'
M1<[TD;G0ST#DSK&!;2&4B"VF&9*E^>^]QL4:#QAK@!;;*6Q5;$:MJH4+1WZ-
MS80(A6C,7=R#R\_&^8:SO@.*#[?/REMF\P+(LH+M3KYC4X;-"V4]]\4V&W]D
M`DCW;QQ5W:]NLX6%*58DFM5C%:E)M]97COE<X;DQQ&>>H?*EIG;XUJRRH7L%
MNJM4C-X3I#ID(IYHMJ')`X$VM$W6X.W?2*7=M6#&VW!B[8I'@!"9$<G'7*CP
MP=&#JYUAEQ9O54\2#M4FH[;!)<XB4@AFZWWP4+$%0_:O6%7:%9[0&N$GM4W7
ME4K2:N"M3LR;@7)#%*9?%;!,GO5O.%M+,(F:Z(2]A;DCYDQQ$UQ!E?([M3/-
M^/X$YB3.WOYD2D\BR-#9SO0(Z-V)GZ)!%50:[E"#SVN;$=\[PA$SN?+_`(YB
M]G-!\28H3+I"=P<1IT.1ZDD^O5CL,.@UG?8O-&R>W1H6'S:W=L*N0GIU%G"K
M)D]>"O'$%/&G)RU&9'+.<(55CW$%>C;/H54<-A0C-MZ2'FFD:1`)9-M'YZ2(
M9^R$C2/IYC%>&U$Z'BF3N8YH7&M.M;C]3BY#Y==A42=<7/T0E38.1R$O##*I
MA-WZ63R:91#AQ]\9$M2'4M4N)R(1`E*Z""O>HS<^D8/Q<&)/X-/?7Z7#QYRR
MZFL,9+AY^B4HU`LCEI?$`5+(!W'"Y1<*PB0<S^':=:7"Z)UNM6:.;':939:U
MCKQ/'M+CV%-!LKJ6=EERIS=L6/!:IA",5VU_'1;G=N!)H"":4RX@SPU2$.-[
MD)%.J0IRB=_Z$[Z^-0)DF_<\DZ=T*,]QQ/H7:Y`4I2E*4I2E*4I2E*4I2E*4
MI2E*4I2E*5Q>UKVO:]K7M?Y7M>WK:]OLO:_UU7YU7XZH@Z/>(R=F>?>/,O8;
M0%8BV#U]`:D<V9>&C4^U,I3,^0TZU$N:,[11N4(D^HI$\Q`W6U=R#-;J"XMU
M>KN4UQK"]^SGQ66&1MY7&4WFHR5"U$!9?D<A@06^]&>RE6L3C!";H)M+%9AV
M\;2`5VK!N"K<]5!V!"I7<1NW96%:$^L-IN&$&!3@%C3@(D@,!C"!&5$%A:Q,
M0&%!9!/K5H"0T@CV[D:\>N2[=2E&M2;MR54GV8;M&W9KSQROV5*4I53_`)NO
MWMB:_P#2%R=_;&Y_JUS5^YO_`)S=_P`7.O92E*5&CJ+K[GGC=A)9#Z$D<6R!
M9DNE;++`ZDI%QO\`DQYD=NI.)8D4QRVTA5[R8^"RC=IU(6LRP9@I?'+-6JTI
M1^A2LTUVX,3N_P`E7NULQJ)$\<7$A.Z?>F@EFN+2$[VZ``;-FS?=-.LG-E81
M%<G,(\B^"UD(JB(L9F]:B4%!+PD]B[-JEO8VBP+SW"?+T8-N&.?8Q9T1Q>TM
M%]()F,@,G#B4^W9;&ZPFL]U;)69/E=V-UAUS&U1)Q.`CLWDC91>O4;E&>Y*4
MI2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*ZLV##.003`.
M$4-.`S8]6),AC"%*3%%A1#1L2KQA0:NU;T1`<M3;=J=8A6:-Z55HV9Z=^G9K
MSRQO3R8X)GSB,H2D7Q3/(`'CW<M5''CXW9N-E,.5W5M4K;$#"CFY\Z$AMW\=
M/LG[XMFE&`$KJY]*%UJ'Z8B]NZ$^TSKDYREY$H<Z7=AF$7&%>'-_7C)%XE)(
MY!GQ$@:<SM\?AEGHWNUG:DRY<VIHBE0HU9YAI;B,RZV:N1;D.PDI!$%?T5JG
M[:]KVM>U[7M?YVO:_K:]OMM>WUUS2E5/^;K][8FO_2%R=_;&Y_JUS5^YO_G-
MW_%SKV4I7H5*DR)/N5*]^E,F3Z=JA0HW[,-.G1HT87V;M^[;LRQUZM.G7CEL
MW;=F6.O5KQRSV98X8WO:GYX>1&4^I'0>ACQ2,)JSBN!F%;7DCN"3LS:+AN%R
M2+*^!@>U'$`UXFNM90$6]G3C'L++M3)&$5:/%]RTVM6I8AOO?E[QSQO!C_5=
M&2X]GEUKV>>&;1;CZJG'Z/5N@(+6VV[%[*@IA"M>F/>;XK^(5+K)6)%`<7O6
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MMXIJM?V=^G6N'[MN*<B@WVS1EA"W%*7#$-*@<60HER?>GU[4I53_`)NOWMB:
M_P#2%R=_;&Y_JUS5^YO_`)S=_P`7.O93ZOKJ$O6O?4#\B;FPT'1N=4GSY)&.
MS7#G+,(@,Y&Z*EY1A??CLWM*/4"E/D+:B+)*IN>DQ\$&G&+8UI]V;@=Z'9;5
MHW0R2<9]2^07=I=?DV/IHLY\5;DA)N^-2!GP1W,\FEQPSW)]7:D^-[8',]"E
M->[?KR7Q!'=VE`*)8-3:C%Y5TWV*L[A&BSVFP&R`93%;+?9C/:HE"`;#4:@8
M:W6TW`0S1@E&A0($.F1B@XD>FU:TZ(<.2)D:73KPUZ=.&&-K5D=*4I2E*4I2
ME*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E<98VRMZ7MZ_CM^
M*]K_`&VO;TO:]OQ7M>U[?BO55$T^-;:`D=S].^/:4/O+>H'*JL9D`<+`['-R
MCTR1T;=6^Z?IGG-*O#@2QXECK5(/V;HQ4L6;P^)98OVNAS8:M8C;[81\E.`V
M2FUR]WY&&SBKJIQJ/HAAX'SV3DYCZ8(:,]:?)9RYT5N'AVT["Q#+<B5Y0N^]
M+,G(#]*)1^YGG<-&PQNM2ME;*WK:_K\_2_VVO^.U[7^=KV_':]K7M54'FZ_>
MV)K_`-(7)W]L;G^K7-7[F_\`G-W_`!<ZQ9]/UD1>T''(,D/!L,%B,\2K/.QY
MO0\*:[4;`-!KOM6F'`X3:I"(##$FNU\U"XBL3IM6/[K9:][6O4-NZUZX\AV[
M-N^.4+MY_P"8UM]B<OY(9W8&Q7N>@_\`:>]W<0<[.K!&NE&V_';JL-G::Q[<
MAG7?6M4M9KRCAI3Y;)K\E\&<_<=ZG4;CX2X7G,<EY)U4S])S`X5$D]%3643>
MQ?4LDB4C&K`HN')<\+9AV6!3MZ/6QCZZ6NT@^F^6&4SZ4I2E*4I2E*4I2E*4
MI2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I7C?+'']UECC_`!WM;^N]<>\U
M_P"$P_UL?^M/>:_\)A_K8_\`6GO-?^$P_P!;'_K3WFO_``F'^MC_`-:>\U_X
M3#_6Q_ZT]YK_`,)A_K8_]:U--\&0QTG&CFAV>HX94M1@\$N*1Q,E]A$#@`$;
M:LK;$BKX1;AG=&5&J,=:T.;';$9D*0TIR(@@B7)]"C75?^Q1W5XW+V6\UE'C
MY".+16&/Q'*TG/+0L[/@IO:-NKV]'-$\/,FF&=",\$-V*["(1GLD,?Z="*%@
MV9,Y/9MTA+ZB\AO:/.W9_BGGYV00^]9M:U)2Y.`25';B%%&5+T//#5V/`>M:
MR)@BEU)1CXCEV(5*=4GR&N(0FT$;)=JX$M+BLM!#=.7I?R/,6(9!V\U0!'[K
M[([36(\UJ/FB%EPO'8PT*O#;M'O#I.5RF6<><TQSNSR26Q/R*OQ<YO6M3V8S
M'>"G99/;4+$\=+\Z+=C:G/RK2(T^DGFW2B9SQOR.Q4),5PIS^9TZ,,$2U#'Y
M_.Y?I>2A66:O/7,$_:".A`H6;<V!&["U:M.>5O>JR?3ACKU7U8888XX88XWP
MQQQPPM;'#'&UO2UL<<;6QPQM:V.&-K8XVMC:UK>SWFO_``F'^MC_`-:>\U_X
M3#_6Q_ZT]YK_`,)A_K8_]:>\U_X3#_6Q_P"M/>:_\)A_K8_]:>\U_P"$P_UL
M?^M>5KVRMZVO:]OMM>U[?IM7-*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E
M*4I2E*4I2E*4JE[H,;/4_P#E`W<Q-+L?H_E^+&CP2S)VQ'\\X09H7N*0W'T?
M(<>+E[C6S'"<P9;D6IK@1Z9(B$8!K:U.G%3LV[?79JV[2_!RSI^5X\F?^V<-
M?J2T_!RSI^5X\F?^V<-?J2T_!RSI^5X\F?\`MG#7ZDM/P<LZ?E>/)G_MG#7Z
MDM/P<LZ?E>/)G_MG#7ZDM/P<LZ?E>/)G_MG#7ZDM/P<LZ?E>/)G_`+9PU^I+
M3\'+.GY7CR9_[9PU^I+4,.@O_#KQ!U,[T\ASGWOY"'=(6AOI6COD`0Y>5(W?
M!II#W`(=@IK.UUQ3RDQCCX;H-T@`KD;H=Z+7`A;1T8B*M_2,5Z;;;[?@3PH:
M.76<K87/ODB\@T5MDHX##O<&ANY<3*#+O>+A59K#SR?CP.\9&'I(#P,*<[YK
MW2]W$X#N[7CK367XI-.G1KWA^#EG3\KQY,_]LX:_4EI^#EG3\KQY,_\`;.&O
MU):?@Y9T_*\>3/\`VSAK]26GX.6=/RO'DS_VSAK]26GX.6=/RO'DS_VSAK]2
M6GX.6=/RO'DS_P!LX:_4EI^#EG3\KQY,_P#;.&OU):XR\<TZVQO>WEX\F?RM
M>_\`^^<-?BM_^26NP\5C_EIX19TDU9?EU[SB8@SNOK7GYKR+)"=EZ7V9C^)I
M"U`6=BZML?M!B-5<93#\\\%:\8U`VE3LRO?%'IUXZ]6NT"E*4I2E*4I2E*4I
M2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*54V._?QGK_)3Q9_;%EVK9*4I2E*
M4I2E*4I2O'/]QE_DY?U7JI_Q-_WO]]?RK7D`_P";>BK8J4I2E*4I2E*4I2E*
M4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I538[]_&>O\E/%G]L67:MDI7C;/"]
MKWMEC>UOKO;*WI;^._KZ6KFU[7^J]K_5?Y7M?Y7^=K_GM\[?;7-*\;9X7OZ6
MSQO>_P!5K96O>_YK7KRM>U[>MKVO:_U7M\[7_/2E+WM;Z[VMZW]+>OX[_9_'
M7%[VM;UO>UK6^N][^EK?GO2][8V]<KVM;[;WM:WZ;TOEC:WM7RM;'Y?.][>G
MS^KY_5\_Q5S:]KV];7M>U_JO;YVO^>O&V6-[^ELL;WM?TO:U[7O:_P`_EZ6O
M]?RO^B_V5Y5XY_N,O\G+^J]5/^)O^]_OK^5:\@'_`#;T5;%2E*4I2E*4I2E*
M4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*J;'?OXSU_DIXL_MBR[5LE>A5I
M^)3*$_M[M7O]&W3[Q/NS3J,+;=>6N^>C?KO;/1NQME[6K=A>V6K9;'9C\\;5
M01$<U="AFKVMP0_IRDYR]E-7K0#%L+RX06MS2\L^=^GTV4A<]3>`Q0L_4T\\
M(BAMJR]K>J3-J$D1]]P&]M!FRC)PY:=.U7/WZWN:92ZH;^;,Z?F8]&G2_C[Y
M/4-YP2/&I$'L</4#*93>CE[QT@)*@&MO!CQ1Y`U4I6+KE#@-O=<M.X"@@!/?
M8FZ8/Y6Y8:4@]4).@^7"$=-+GF4.`X:7MUNR0QWJ^@#S[3V1\%3[CR\>MT-0
M^B`.>66O99]S)+/0F;H,LO2+"Q5=J$)K(N<NF6[TOET,."MIPM=9SQTG(O,3
MMP+K!^S69<K`$L\TK<;:6AU>6^P`J*?`G:.S7ZQ9I*JU+-2E%HRT:=VZJGQX
M2I-4Q-1L.EZ2=V(ZWJS)][X^DCA'2ROV#9,8/.'3TMPNR8B(*EH82(Q.$V=]
MR>`HPCVMPKO<K"-'"YO?J3F=1/JV5Y@6Q&'+T4N1L0ET?.`P=XQ,?(T7=$DR
MG%JN15D(LMU!F]("9WN9;N$ZW3+H(,4V.+=J0`A@1TK=.@*'6Z/?[R`^:;D\
ME;:;'2\6P`2B)W)D,SR@EB"-72N=#.&N!X.(IS>X.D03Y"QFJ5V/;H.-#FNX
M8K1RJK+(=/[,0`^V<V[]"A5KEQCE'WG#B=PLD#)[_@F5HRCU]<@.SK6-BBHV
MPW<<>2-D=`,7FPU%FMNMTQ[0=^%I,EB*QC+4$B=FRX,'=OW+R[>T@EV_;O.8
MNL76)-<V-R8X:Z#@UP.GO^)8"$;8^DEC[F2]53JB9U26!+FG3@CQ52!":O4D
M+LV06F+`A'$FDUI;AEE&]K($KG-Q$ZB\I!-_\X>06+F8T)3YOGB-_&OU!UO&
MY_%X-BTD,#&*UKP820;(X4'DI(0Y,8YQH6>\M#*W*W-GBSG6/4*#XP^F("4<
MH_)9+LL19XFY;FN+I'=,?2ZTH9C-VMV0F_O';CXX\L+L%&06YZSXTV&*6(I#
M)/2M3F1)%-ONJOOOJQ5:M"C5LCREOJ0H#\9/7LE1'(+L9LG0SSF]GLPI"2+D
MB]T#W.Q0]B(HNOVF4!(8:V+-Z3V3*8L+6(26I0IPS3899:\]/'D5Z2??#OCQ
MDN9XVRU.Z3FH%B..&":D=5L+H,'_`#/)L?0@UW](&W3\#D7$MEPR"D>KH1I_
MH[661B50S1D.T*L<D^X67S?(S!=42.,;U!.#ST-XH<SFD-)1\,XPDRZ";,=H
MI.1UAK-K6BC0B$?10&ZQ(:+_`+BV?@-&[6^M"*TV@7FDF#7CG^XR_P`G+^J]
M5/\`B;_O?[Z_E6O(!_S;T5;%2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2
ME*4I2E*4I2E*J;'?OXSU_DIXL_MBR[5LE*C43Y-AHOUBV.T5H+?G.;3@]Q\_
M"S5E.&([)A.)X#GIE=8.^'O\4<"D$QA`W2V:BVT.%>+S&I]?NG"LO4?I-\:$
M-RB_9@D8I(,R`W!-4]<I=&N:S>,,'4A%2+QIDUML+7;:<S'!K-(!3J&8WU+J
M%%-QC-Q;$>S"ZU`F5JD^WU39XR83F\KU&<+/R9VF6ZP6\WNA\J&<YVJG3->3
MN4#+1.PO*S#0'V,X-`YV@UK#:.!4:?R<C%/)`N&E<S_>+B:A9O;F_E%H\R[I
M]5M![2(YUO1DXN3H9\J7P0;!"PZ2'<VVLVG"J:J8&TVZF$AB&EGAR'T,IUDD
MB1?CNQ'V1C<]8[5[>9^5FKRQ$!>&&*^9$<+=*/>7Y"TF'PI9A%RB7+.$@NV4
MWWN0*@+*;0C:CW/M[N$V*1$PA#`;@JU"\<MPI(G1ZX;#O#CS8,C%)$B>09WR
M:*+@5Z^-S3CM<L?9%/O;WZ62%CN.:_",-=LI`MFA2HT+NQT8Z$R+5^V";UN>
MQ;GDVCQ610GF<#->J;.A?IMN=`QITZ/;VTS%>UK[)@C3EQ1R&E.+M642V.JQ
M)^(<TR<BU,SV+8;YW0K)Q^*9VH^X4A/"\/"QR2HB]EPVX3LQNR.F/RU,/(@\
M`==#0PS7Q;,\I,R:#),@7"Q^',)I`:DEQPP'2P7@WUP/>W5K2&^]0DK;RGTA
MN[5X\6J7"P>GE'H3I6:WE!,]QOT.!DV2W3'2AX.5W1*U'*RF,#=2!JQ<UV-@
MTD(!W.&Q=*TF>U'`Z3916Z7*Y2;D4;B6<?6SX5.=&VUWRRK2_P!(&&L^>4.A
M^+-PLNZ8SW9@8&Z2EA;,#S%!B.B)DY)4[A3B*F$0:0'.J<;M*#2>>]\$G<90
M"BB&;70W(##Z6Y5/<B/UW2&,CMT-%L,EPN)HD&L*?A$(UE`56FMB5(-`R!0+
M2*@`.S)JA[837],=^`W6-QW6]C7TY<%@.D8[EZ,9FZ#Z)>+9F2&C\%F]>)"&
M6UM;S(>)<:5?.]J)VE"H(0G<SQTA0X0HXG`+<BL:$':TK6P;RI406K,E>?$K
M"EX$ZF9T/($G=&1T\(E<D.EHWD_.-!K/L`=BL&J-.!-HBN,XV,XON_W-AL`S
MP4&U)1I[$=B#0N",*%9+?GL30"X8ZP:VAV]!S5-Z1C(<Q[4PE)3'MU^OV4.P
M2D,.PTQF`RRTA.="&V[AFH\\%1+<JOMW'BB8@[MVQQ920KQS_<9?Y.7]5ZJ?
M\3?][_?7\JUY`/\`FWHJV*E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4
MI2E*4I2E*54V._?QGK_)3Q9_;%EVK9*4I2E*4I2E*4I2O'/]QE_DY?U7JI_Q
M-_WO]]?RK7D`_P";>BK8J4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E
M*4I2E*4I538^]K><9Z^M_3_]5/%G]L67:MC];?;;]-J>MOMM^FU/6WVV_3:G
MK;[;?IM3UM]MOTVIZV^VWZ;4];?;;]-J>MOMM^FU/6WVV_3:GK;[;?IM3UM]
MMOTVIZV^VWZ;4];?;;]-J>MOMM^FU/6WVV_3:GK;[;?IM3UM]MOTVKQSO;V,
MOG;]SE^.WV7JJ#Q-_P![_?7\JUY`/^;>BK8J4I2E*4I2E*4I2E*4I2E*4I2E
M*4I2E*4I2E*4I2E*4I2E*4I5<G1?!3QEOI1!U1#G8DY\I2?:"QO/CBVQ:R.=
MWV)=+##2(=DT1BM03O$<GX"RB-QN(A[2X#]&[5*+W"7??+7CNQWX3]XSV[^6
M1[%_H^>.W]4FGWC/;OY9'L7^CYX[?U2:?>,]N_ED>Q?Z/GCM_5)I]XSV[^61
M[%_H^>.W]4FGWC/;OY9'L7^CYX[?U2:?>,]N_ED>Q?Z/GCM_5)I]XSV[^61[
M%_H^>.W]4FGWC/;OY9'L7^CYX[?U2:AGY`8P\@?(/*4@S^S_`"X=2.IQ-%RP
MP#0`W5S]P#@"5:I,G6,HJ*;EGT+RJ.)9;1X9[D20['0N3Z_I5(AR5_$(\5"-
M1,S[QOMO++.^'F0[&QP][MQPMES]X[,\K88[,\<+99VY%U6SR]FUO:RMKUVR
MR];VUX6O[-GWC/;OY9'L7^CYX[?U2:?>,]N_ED>Q?Z/GCM_5)I]XSV[^61[%
M_H^>.W]4FGWC/;OY9'L7^CYX[?U2:?>,]N_ED>Q?Z/GCM_5)I]XSV[^61[%_
MH^>.W]4FGWC/;OY9'L7^CYX[?U2:7X8[<O:]K^9'L7TO;TO_`/A\\=OU7_\`
M\2:DGQ?R4EX^CE[LO*57U-;EDN;)5GV0))D06Q`;C<T@S`>U.)V+=@2-6PSF
M4(19D==\T8X"W1B)+AGEKTI]>JVO7A+ZE*4I2E*4I2E*4I2E*4I2E*4I2E*4
MI2E*4I2E*4I2E*4I2E*4I2E*4I2JG_-U^]L37_I"Y._MC<_U:YJ_<W_SF[_B
MYU[*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4
MI2E*4K7YV58Y;+^8D6'GHWA4C2:C=A%@,E60U:W([1S%1(B#P(!!5O:4K$+<
M2$A^TLKQPQ3I+KT>K9L]\ITZ\X1]8.+D;L+GB<H5=\](P3-:SMB?9(9YF*-*
MH\(.,SH!M$&>+`)UX0MH=F;KF",]\1I-;3'.3::?"-QQX"SV/X4I%(9/MWJ'
MGQTO%A1\VY;99IX2@SL)`80,>5LI5N9K*]3@6I5X[/#5\+[]:D:CQ6H!"E0G
M.+D+*>JU(,WI6<Y]PG;[9=#>>89.X6J9'GP:M013)"PM1@K'J]HDFL#K_A56
MOUU*->@D/6)??Z<MFC;EHRST;=NF^&S+OJ4I2E*4I2E*4I2E*4I2E*4I2E*4
MI2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*5`V?8SD5S]M\#R2VV>4,Q_%&?4
M-Y*=258$TH&A:0HH"MAF?'(EY9&9)?31Q$H1X_<^+,_1UL+*R_T>CSP494T,
MG@/J=M[>5ER^*U>D1P*'@YNO<</+!E)#J4LQ>UK3"XG=':?$WKR.:&PP!6F:
M&[K>>@40*R,]%C&&96=*,ZO1RP@;QQN$8BB*17:W74PIP>,F3W(;YU"'H/Q9
M\.LAZ2;UDYH\'XI1>XCNSFQFPOUZ_P"!VNM9QK)DMO[N7L]-R=P&HZCU?E-?
MQW[>O<(I/".M&B`91)N%6<`80`.*;`3$6-&Q4Q=,A`P8]FK%X7.*6M+]GRUH
M,*D%&;S.1.';11Z;2)E1D9)V!4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*
M4I2E*4I2E*4I2E*4I2E*4I2E*4IZ6^RU5[>4N;I-YSXBE&7H=<EFC(+>>7/8
MH0?^B`AOX5"^.E(?8#GT7&N$<5$[_I-IN@X*]XI0[MJ2RWXQ%FG7)TJG38-K
MO>^-[W^NV>S&WRM;Y8[,L;6^7V6M:W\/I\_G7G:UK?5:UOG>_P`OMO\`7?\`
MCO\`CI2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4
MKCUM;Z[VM^>GK;[;?IM3UM]MOTVIZV^VWZ;4];?;;]-J>MOMM^FU/6WVV_3:
MGK;[;?IM3UM]MOTVJI_S=7M^#8FOYV__`(A<G?C_`/[QN?ZM<U7M[-_G;_\`
M:;OQV_PN=>SUM]MOTVIZV^VWZ;4];?;;]-J>MOMM^FU/6WVV_3:GK;[;?IM3
MUM]MOTVIZV^VWZ;5S2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*
M4I2E*53/T*0ZJFGR9[.68E[.E7E.,6IPDT)]5)XHC3F][$G/(#EZ*?T;J5)E
M?.\/2BH3($S8;R'2F0`MPC3\5C=5O]]G?/#;L?[QGMW\LCV+_1\\=OZI-/O&
M>W?RR/8O]'SQV_JDT^\9[=_+(]B_T?/';^J33[QGMW\LCV+_`$?/';^J33[Q
MGMW\LCV+_1\\=OZI-/O&>W?RR/8O]'SQV_JDT^\9[=_+(]B_T?/';^J33[QG
MMW\LCV+_`$?/';^J36K)J\5O1O1$;G(BF3RT]A/*.W(N:A,TWLX1X'!_%KF.
M\F](+648E6[RR),I,A;N:H$M[*,AHP68H<AZ_%4,5K4:C:E^&NW;Y99?AD>P
M[7SSSSO;'GKQUX8VRSROGE[.&'(^.&&/M97],,,<<,;>F..-L;6M;C[QGMW\
MLCV+_1\\=OZI-/O&>W?RR/8O]'SQV_JDT^\9[=_+(]B_T?/';^J33[QGMW\L
MCV+_`$?/';^J33[QGMW\LCV+_1\\=OZI-/O&>W?RR/8O]'SQV_JDT^\9[=_+
M(]B_T?/';^J37&7#7;ML;WMYD>Q?E:]__P"7SQV_BM_^4FN]\6TI39(T5]#M
MZ=Y:-3B[8*[?ZOYW#R<YFM'S0<[F8\0R'B!:"AQB(N:C(9-C.D9M]PL5AFP)
MU*[X8;-B?WEKY7LUI2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*
M4I2E5-COW\9Z_P`E/%G]L67:MDI2E[VM]=[6_CKB][6^N]K?+U^=_3Y6^N_\
M5<TI]7UUQ:]KV];7M>U_JO:_K;]-JYI2GK;Y_/ZOE?\`@OZ>OI?\U[7_`(KT
MI2E>.?[C+_)R_JO53_B;_O?[Z_E6O(!_S;T5;%2E*4I2E*4I2E*4I2E*4I2E
M*4I2E*4I2E*4I2E*4I2E*4I2E*J;'?OXSU_DIXL_MBR[5LE*56%Y7G]/<%\Y
MANH(4DIZ,UM<T2C'DJ].,YF`6*=(2AR*,=0E/T6+0Y/-HN90#<+)CO<4DD(:
M;:L(6NF:AL/@H49ETUTN,]"="%13>[TZ52RI-.OE_F3D@V.V!H`V0SN<)R0=
MD:E9GD":8H<$@A-R?8]8OBIS1UH9FLTZ5L<K'/N/_2S,-F0>I$KU[/'E<(Q$
MS>OQT4<QS;,;AXFY>:\^2*^W$Y85;C#T@GKSW(4QQ\>.+5<BAW@=3%=\<KF^
MZT+.8RASH3*C)6G;*<"I'$U&QS'E88,<M*4E\M1%*H9U0/&W$LC2F)`ZX]*I
M=P?MY^FXK8*UG;],B*$Z^S?>C:+*'<,)+T"L<W-J!8'4.(AGO'Z\R[=Z!DIO
MS_P;QU%+C61N9[.E*8$STE\:/"EG$Q8AYUB`O++[%,1&XD)8"DD&12.+5985
MPEPQU.UFZ0=KA0A]I]"&6CHCSIY"7/XU>CYSC"8=\K]+02"XF1=K,K>AUL(E
M-K!LU>A&ESS+##VDB"]@HW\S-RJ3HY?K24F]JM_B]VM^-](M>"2[:$!9$HO*
M['&L])45O6'Y-B7HN/)I;L+_`+!\E%HZ3+W`I?,/.:?V$_!K[9#L?;&Q8+BB
M9G.@RL(_2:DPV'`"(L\^$2E\-&6_IF7Y:PDC.1I-%D\:]DEG,8YS1]0.UKKV
M3'S;>;#C1/*3[AYVZ%;$<4CC7H[W@VWI'QA.(:3#!.$O*HQ<!.0_H?`<OH76
MU,]?,OAFT'0GC3GEW*)?8G3/`4&/EA.EV1SLT-T)W4\``IME=ID(\+C+/ALZ
M=SA8+K8!):+(LB4TNBQW>M9252X%.V]'D48\:'YKV$V?U`^RRGR517POFS3R
MJ"U"*/95E.&X-+-5)'N8QTMU.D@U?K>(<QL5N$ZZ7UJ?3C=Q`OK#MG:C3A.V
M;?E=CMUM%A*!4,RKKE=XJ.XTA"&")"/4C@;*SQXNK-C]&(%3LUNI4Q32W6[E
M3;`Q[K`FEJ=W;G8,*+E3;;HMU&@$^^>YK;/24%Q!T$RA3C"LJ;8X9\JLP>[D
MHM`YM;0?@-&Y6NH-(`Q@^/'KEX(B@7[4&HLKW(;*L4JR^E;J4)].X:5XY_N,
MO\G+^J]5/^)O^]_OK^5:\@'_`#;T5;%2E*4I2E*4I2E*4I2E*4I2E*4I2E*4
MI2E*4I2E*4I2E*4I2E*J;'?OXSU_DIXL_MBR[5LE*5TSB;P-W`#;5<PI"=;C
ME$$P!\(33ZU8TP$,H=XTL*()=MLM2E"1'JE*)6GV8WPW)]^S7E:^.5Z@VW?'
M5"[1\>A[QN-<^_PT,.2#GS`A5V8E1!23]S5D@69"NTU]/G@A04H=BH:?(Z41
M,B#7I1][(<=8[8G'IDV.-Y^-**B:7LH:XY'E$^%[CYH8?+DPB;[V2,U#67',
M6.Z(`#C8RP8T-)`,\E#7?+C5&%)54>;ZHWN1*T3?&(T5AVW5TN^(R/)?P>Z8
MWT5/XO1+$`<NP/*R@7JAFQ5[Y<>RZIE^$Y+^(411F-;CY%E"[D#N!$VPP]BN
M,432Y+VA\4+]XNFWT)R\S>A4$7+BYYSLZ3H+D)#*\*3&S\PB9]QX_P!,!,M,
MH128%`Q)M&P#T9SD<K,?[+/`EK8=#8<"]'F@0D$H,J'K&\B?CV?#]Y1[2/L-
M,]^G^TND8BCR!@#B57C)G;6G&C3DU`]A#`8`LDL:+'9+%$&5KFD%T*#19P.=
MWN=2FW&BA]*+:K="R&>'C,:LB+R\Q;)SF-E]8F9PC_H5O=,M<?&XY],5Q1K$
M[D@YGL4<PRS2<,9+(VUQ&^G\T'JQSX`TF=A%^NYQ+".@OM!;P6=8>.UI*)"=
M<FGIVGYQ.Y^\<&^+GH;7N-II#IEEN%UO-^$Y(2.(,SQIMLRO@\7\XR88DU58
M9EMM%D)"MYC#4`,9;1'=F^&"*&RU7.WU_0L^&3#@T\`*4#N2HX1;A1FN/QR'
M<3D#G6F!#Q)BR4NI5DF0)'>WBS8+@"NO4M5)D21>2VJ=.ZSWC(C,^Y'DY5,J
MRQJ5/7O6)?(>13:K1]\,EFF&6BPF2U6TBO=D6VXQJN"QFT<G`'WY[G*L()B"
MH<[!.LCL3:H3=`^/J0X]+1TS(B$=(27&JN8NQ>CCK]8*+A:1W,VI=ZV=JDN_
M6&\88ZI;#+8Q:'BHI[21DT78U#AE^-=:0Q:KI1E&HMWDMMS?.8.4&U"<>`)F
M,(CTC"07P)THC"MANY;D^A>MP;VDH&9&E,R$;C0M>P1`Z;,A*A96]R)2JEHC
MQ[=W#4>C==*\<_W&7^3E_5>JG_$W_>_WU_*M>0#_`)MZ*MBI2E*4I2E*4I2E
M*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E5-COW\9Z_R4\6?VQ9=JV2E*5H
M;J17.R'G"<UO,*("2Z'212^5$*CG-N0)@R^2]+?7;&@B5J"V.073FJ+XI]*+
M:>QN`P(9I+G;7#_&VO4-!?DRBYCQU/DWN.5.G'H#A1)S)'4T\;=!LMDM3L?E
MF7I0E55'A-PN\,N"QOBZ&,_]S^8!(<>&N9WLC<E:;F4166W),]C719#U=Y`'
MNIEOG87S^`FE05B?ROEN()RAT!NBH7>?-NWA"3>C!*$$<<[D1B]#1ML+1DXM
M!8^[X^V#5(QRIW`(78CQFM3O>,?+'$$L;^=P+>CQ_@Y!G<A);?WQ6_S,;L>1
MV>[(0FK.`IR9B0.7>.0R3WM#CU2%G`_&M%QES%T49B[/P<F*)33<&F.(Z[V8
M6IV2Q'S=TSU)<ONOOZ9^6V%%<@DXH1+-3NB:'6A);_SCHL`S0`VSSJRX]2[W
MR@)OE>=?^1@VH%KTZT\Y`3820TX8[P?"N/N=U\\+^PI)EHFT/,C)>MG-@5$S
MRSDIL\C=C*(]UQP[&8S4F#I>70#!;&QC,J&`,5Z@3%/*CSE2;EKA6*@V(F3.
MGS(1=\$XAV<%R^7D5K]3\X<EE6$RST-.WW4A]5,@*]XH68/'7)`MI9BL;F;,
MQ\:/I"Q=CO<671FD.+926=FW[VSY%&(TY&Z+320'Z%8\FBI)Y%A^T"2\?A9>
MTFC+,Z0%KE`(SHQ<,4KG4B2"-3:TG7++CF<SM=>OZ;;)Y8S4^P-J#C">:L;R
MEQV^C4`LW7$4HLV2YS7OU"BB^3MS-C9Z:\8RE1#%3W(,!*[W"+&SJ."9+],H
M^]B(DXU"Z%,T[^1)-ZE>@;BFTCY7_P#]?]?^E<TI7CG^XR_R<OZKU4_XF_[W
M^^OY5KR`?\V]%6Q4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*
M4I2JFQW[^,]?Y*>+/[8LNU;)2E*UG,<9IYBC)Y1HI=;O8NMX!]@G%Y,`B@$O
M5K[[J$ZI*=:Q(H,-#$1P8J2Z50Y01#E4.M1KQNK&K=%]B;9`68_%O'G10OH1
M=-TLR,ZI5GF)HHA/7,`(3'K,<L>,*#9243C&>EL`Q#5VM(L91S`IR?+C(N\0
M=2'=NI.W4(IO-77<-GZ+>+AJ)SIQ_I)_F7.4B/:C4[U&.HD.BQ:("3J!YQT<
MM'\-+23L,<E7,=\Q;=<G.MM84^($F-R$FSB[<S'9:UWS.?Q-PVYF*P(I52'(
MRF,VL^?V6W,`.)&"XCSOG)3/Q#I,[/R!_KVC@\(XFET2,8-H3KSCL@"UXL4R
MI:(02%T#FVN!?63\6$>:763D]BS-+;"F77VC(/<+)DT>FCLRO8,AR]&R2&Y7
M8(QO&V:I;A^)7S%R/6V5P!UH2[D'J<=+A%NY.91HMZ?%0WA[B$2U&^T]DZ]#
M+TX"+O(9%.@O]+QL%<60GR5OW7)<[G4IIL1N$5AW2W'BC'EHK+![HON6STJ-
M)).?3J-6E'T[:\.$<`UF)E=T+-Q=PVF'B2=?I+4"@UNH=+[X1CH=&T3HQK8;
M<4C6R%9)@&&$6=;4$C$>-\D5\6^2"YJE2C9M27O%W&$K/6?I0U2S,+%E.:)B
MYRZ$:K]:"EC8%8'F;EID:8ZC!W1@B-LPN')HE[-L0;T@-:3$#[`/$.?<(S8F
M&HB=].G[95\;XB<FY&[3F7H.7I2#-`VU'FY<WH'BA8:<<F,V5D\O!)39YP6P
M0ZV#GPB*IK,E`LA^S9%B8MVY-(6*2$$Z!R([*\;6QMZ6^W*_Y\KWRO\`F];W
M]+?BM\JYI2O'/]QE_DY?U7JI_P`3?][_`'U_*M>0#_FWHJV*E*4I2E*4I2E*
M4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*54V._?QGK_)3Q9_;%EVK9*4I2
ME*4I2E*4I2O'/]QE_DY?U7JI_P`3?][_`'U_*M>0#_FWHJV*E*4I2E*4I2E*
M4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*5^+'SS]H=+<4^5:-'?S+)-HT<
M3W\>8%O.@A=FL!Y_28<1T[(A(>C^$D%JNM"B^'6JM^[X@>E2*MOM^[W[MNK#
M##&K_P##W^63_&LQ_F)YI_[-T_#W^63_`!K,?YB>:?\`LW3\/?Y9/\:S'^8G
MFG_LW3\/?Y9/\:S'^8GFG_LW3\/?Y9/\:S'^8GFG_LW3\/?Y9/\`&LQ_F)YI
M_P"S=/P]_ED_QK,?YB>:?^S=/P]_ED_QK,?YB>:?^S=/P]_ED_QK,?YB>:?^
MS=/P]_ED_P`:S'^8GFG_`+-T_#W^63_&LQ_F)YI_[-T_#W^63_&LQ_F)YI_[
M-T_#W^63_&LQ_F)YI_[-T_#W^63_`!K,?YB>:?\`LW3\/?Y9/\:S'^8GFG_L
MW3\/?Y9/\:S'^8GFG_LW3\/?Y9/\:S'^8GFG_LW7&7GN\LGLY?\`XK,?JO\`
M_P!">:?L_P!#E?J&_P##;20])BX1E26)',_=%($C]T]AO!YG_HX4(^F7&:D9
M*I)D?HH$A%A1WQ.^]\_A!0U"@T_N4Z75A^UK]!-*4I2E*4I2E*4I2E*4I2E*
&4I2E?__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>19
<FILENAME>g857380.jpg
<DESCRIPTION>G857380.JPG
<TEXT>
begin 644 g857380.jpg
M_]C_X``02D9)1@`!`0$!60%9``#__@!!1$E32S$P.#I;,3-:1$DQ+C$S6D1)
M,38W,#$N3U544%5473(V.#8W7S%?3D547U12041)3D=?2U]"05(N15!3_]L`
M0P`!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!_\``"P@`^`(=`0$1`/_$`!X``0`!!`,!
M`0`````````````(!@<)"@$$!0,"_\0`=!```00"`@`"!`0*#@\2"PD!!@,$
M!0<!`@`("1$2$R$Q%!46.!<8(D%16'%T=K89,C0V87B!F+&TM;>XUB0F,S4W
M0W)S=9*3E[/1U`HC)49(4U5668*1E9:RTM/5V"A"1%)45Y2AIM?P&B=B9X:C
MP<+AY?_:``@!`0``/P#?XXXXY%7N;;]A4M0I.3U4%EIC84LYC0T6<"]=EEIM
M@21*55(_-HF`0#,)4NG@BN6OPDIGHF`CG#^:RP90&JL:E+JR\=@4B?$J[*OJ
MGC;1A[NE96W4Z:#V:W6LOID:'YUU73GP[6]_%/>J1K[(1$VNX18]B=)N.T6A
MGR5(S@E`?0R@!S!?/1Q%KFBZ/V\1V)6%RN];37[1B]:W0:A%0W>SUKM&2O4&
MB`@"*6TKL0@4<%4^22L6;$Y?5^Q6&PXN(OW`;IL\09R+2;=[R&Z^W6TOVNLG
MB(46UR_8FMEUV1@YPL)NR0:+ZHL$DK4MC7KX%)C$2D$4R$7D%(^0@B249/8Y
M1JXPLFJHH@E>WCCCCCCCCCCCCCCCEA2?M-UK"R(_$2V^Z?'"NJ1N/,+,&)FQ
M1-@0@`I*NH9E&D9C"+RNLF.PKUT2#J"$E*M6S790@@L94UQ,QN77MA'8&B[+
MBQ&:KVX:R-8D^G248")`8-QV:;%I*&-95\7CPXHPD%OCF<%F<%-.R**887?0
MK:(DEI)!LFR<;:7?XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXY!LL[86?]&.T
MZDJ#JT:7!FG\@;0O*VMHU$!1.)D^$DC6.C(Q@:D#*8>X8P;IEN^>[-4&V7;G
M+=KEQZA=33\?3$=M_M!#7]<;UQ_C7Q],1VW^T$-?UQO7'^-?'TQ/;;[04U_7
M&]<?XU\?3$=MOM!37]<;UQ_C7Q],3VV^T%-?9[__``C>N/L_^*^/IB.V_P!H
M(:_KC>N/\:^/IB.VWV@IK^N-ZX_QKY%OL3XLK_J(^%6'9/J';8*L=LY1Z'9@
M+'I(]TE4H!PU;3N'6T$7I_%>[#>3B<I?"<;:O=7N_J-O29N-=<Q?'''.,XQG
M'EG&,X^QG'GCG6PQ9ZK:N,-6^'&K?X)JOJBGJMJU\\;?!M5<:X4U;^EC&_J-
M=L)>GC&_H>EC&>?INU;LV^K9H@BV;I:[820;I:(HIXSG.V<)I):ZIIZYVSG;
M.--=<>EG.?+SSG.8=]'/Z&=L_IRN]/\`"\N/DS...............<9QYXSC
M'EGSQG'EG'GCW?7Q]?'V<?8YBHGNK?9Q7N$3=B`J*Z_!3,0K[L2QK%RQ*#3>
M+M`VMD5!6@9-6O5/T/\`6-"3^((@B%C[&O`;L`UF#6NQB`%&H*S1<ZZC%W8?
MI;'C$WT1GXIL(2Y3U:(K"DSBR"!GNO8A8C:5'VR,60^B2%Q'R4NJ\L>ZCV/L
MDRBG<Q&Q3]RFZE%/7R$9%LMY]\<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<@Q
MUW^=OW[_``UZY?P<13GH]T;^O>A!\`DJ*H>2O62)2=]$$<;&QY;(;CD2WBLO
M6\LKH)QDDNDFX>8PSQN]T2;YVSZ.F^5/J>1J[J=D3<&[/=>J?K7LD,5R?D4:
M&%[:E"#Z$`J+&D-*7,-"9+)6X>6R[4(Y2!GQG0BK^GZOZ^,&UQD-M._CQV]R
M'PD@]@,?$1W[MR7A`EE/]X40X"L<<KRP+D[`J"5)Q:O4Z^B2I>U!S/\`2MSM
M/`#L)&L1IO4M;#?R5MF(D[ICF6A"#/RK<TMD`E8"[_5/OEVW+.PN(*P12P[;
M('M4G!S;?7RJU>L^L%4.^D7U_G*:B@>$GBL&NNOC>5C+)*65CQ?:8KA(@C((
MJ=3J)<DBAMB\4I0@[T'\U;AQ%0O>V%&:*E+]7J&XK47UZTPS[K+JPM0[BXUQ
M3HC)09I/A85$J!L1UBM2\NUS8L`3.\"^+*:59H#[QHMM?V([>]BFM?5Y;5L7
M<!U&"E'A379V#G9N9I1XK&A=N5P0T@R:WV0QWRA4GB2`E1VP5B0=IN#CQGX,
MD\<PSEZ7/I"(5@YJ>'K9AE;%(SQ646HE;L1M:):PKPDEBJD2^T&0"VCQQ6-@
MKND>N;9G3;*T&4TY(7;B`$6J*PZ&2`7#E6SHS:$+UQA(_P`T??GHZE_V!N;]
MTJWYM2<<<<I8U.`JM1:9.;%+Q<""AUMH\("\T((@5%X)FHX1:Z.YD@G7C"(C
M&VSEP@WU7>O$$MEUDD==LJJZ:;4(V[%]?GA9'@3.\Z==G4L*-SN*"FUG!#@M
MD@EU"JDC4PCQQ&=WF'HLY'D%IU`A;,U8=:&15E$WFS!/=QBN`@\"+-$X@ZK<
MQ%;`"")NLZ'S$)(8<K%9UJ@Y79+.8<A@'DA$2;=)XV<M%5F3Q=--RW7;[[:J
MHJ::Q?Z.?T,[9_3E=Z?X7EQ\F9QQQQQQQQQQQQQQSC;.<:[9Q[\:YSC[N,<B
M!FT3K&VV/CO'EC;;&/\`0Z,]V-LXQ_Y)]CC%HG6=M<?'>/+.VN,_Z'1GNSMC
M&?\`R3[')?ZYSG77.??G7&<_=SCG/'''''''''''''''''''''''''''''''
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MP-S?NE6_-J3CCCD8NVH6?'%3?%]:`078A;%%X@2QL,7%*`0^B7`_*XD&9K79
M=(!E@0`_:X'):,"^N9`G$I8=U(X=NE)?`M54I!KA;@/#"[<0562=1C#\8#)$
MQZSLZTM0X5[&'Q76%JLH/K].58*TX0T!M6,+!#4BS(=`UN4WT#.H5>=&V1I-
MQ(=#-SE]4K7+9U'J"RP0+O25/QX5ITHO.ZC&UHT!K:?9F\34S.;`:^!&;%C.
MOA2"'9N:>20*]L*4W;B2,%F<*'#5RUE5=)!V^\GP\8B4@*,.8.<*9@YF8CMI
MW=CY0S(&8['3I2^;=M[B3<3LPP$80:%6<C(;XRLZ;CH]"0Z2F<ZLHQHEY)8G
M7QQQQQQQQQQQQQQS\[_E-OZG;]C/(!;?EM_ZO?\`Y^>-?RVG]7I_S\<G[I^4
MU_J=?V,<_7'''''''''''''''''''''''''''''''(,==_G;]^_PUZY?P<13
MEYK^M,YJZ,&7@.!KG;F9F'+"0;(M9QSF-:(LLN$W>V(1D]4TPHMC"/I.-4TL
MYSY:[9W]G(+]UNR!L"]H.OE.UGV3&*[/B&/#2YK2L_BH!46-H23N@;$B23MP
M\MEVH1RL`0#"9%7]/U?U\8-KB(K9>?'CI[D/A7[R`A^(]R^SQ7U@[#G]==F8
M0V*A.D>KU[DY%+5:$S;J@[=LH_LMCV!Z>,H,:2#F`],UW`AXO#Q,?:D><6=6
M3B7D92P6I<H2#249+NG>R1].^)785)M>P#2XZQ<`=VR,Y7L/#`;!2@3>M#RJ
MQL7#)P-C1EE<83JM"3!8_5M:RS(I!+Y?ST6K6$&(1P\TS,Y;N..:K?\`FC[\
M]'4O^P-S?NE6_-J3CCCCCG&WNS]S/['(:='/Z&=L_IRN]/\`"\N/DS......
M.........?G?\IM_4[?L9Y`+;\MO_5[_`//SQK^6T_J]/^?CDYYR3^)8&6F,
M?`/]"HE_)><K)I0L9CX"R6=><C,+(N$8IAYH_P`F22R"R3!MZUVHDIHCMIM@
ML<>)7VKC4K-KN0#:"3NNF4+9M(Q=R\':@8`$M0TQUZK6XR$=K^*("M4HF'9<
M9V"XK>N.PJ4J^KDI%A`EM]M6:F62];H3*ZP=LKDMCL">`5MAJ=9A9`RL8NZT
M1CVKW$?(V958`3@D$[/,6S'7R?04M(-T3L>6G0>2J:L99E\I(QU!OR1I#$66
MN2'CCCCCCCCCCCCCCCCCCCCCCCCCCCCCD&.N_P`[?OW^&O7+^#B*<G/G'G]G
M_ASC]CG1=1<:^60</(]D[7:[8V;+.6C=PJWVQMC?&R"BR>^Z.V-]==L93VUS
MC;7&V,^>,9Y]4V31'5?5)LW3U=*[N'.-$4],.%U/+TUU\:ZXPLMOZ.OIJJ8V
M4W]'7T]MO1QY<Z-&R;A9TFW1T<N-4]7#C1/35=?5'&<):K*XUPHKJEC;;"6J
MFVV$\;;83QKC.<9['''-5O\`S1]^>CJ7_8&YOW2K?FTJ\E8V/5;(OG[)FJ]7
M1:M$W3INW4=.7.^4V[=OHLIILNNNIKG1%%+&ZJNV,ZZ:;9]G._QQRQ_8BW)6
MCZKGK$A@=<^>0[B)24C%"D>`QR&C7TB@VF34]/BG?XC!JY!HC9\5'18[:RBD
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MSEY!A88,]80&S?2=>M"\<<M(;=VZ^`M=)9RA)J(1NSE[_(C?5\HAE9U_(Z6-
MULXTY72NWDDIMCV^2>^V/T?+7.>82E.SC_5177Y&,<^BJICS^/7?M\M]L?['
M_H<)]G'^RB6OR,8_5*IX_GZ[]GGOKCS_`)W_`%O/SYF8(G,&B.2&Y,V;.X%P
MQRSEF;QEK),W;*2TPQ<,W;#=)=-XU=IN=FSENJBHBL@JHFMILEMOC,$4>J7A
MVH!#"MD^MU/:@L6;8L2/%\UFAM$M3#Y/:!^99-#=GMMG&P:DB%[1VZF\1N&(
MH"6T?D=12C-+Y5E7?603M0UL6LJV"QBU;8<.W9N80@<G$3Y2X65TEY5>3E-&
MB?DI+OV:,O.;(Y;9GYALWE9GXPE$476DG>..........................
M...08Z[_`#M^_?X:]<OX.(IR6)H4OA=O'K,H=27V>.E&ZFFFSC7*&FB7K,*9
M^#MG.?+;;ZGZK777S_\`&SGV<QQ=SNQ]H@'9.AZDJ6[P8<*R!B(E6](R;&MX
M_<W@9.YQ</*IZUSFS)!%]"`*PCL0B=4BU(HIW8974^;.6+,H#A<CAD(<B/>G
MLZ3]9K[L<&[`UC8)0+T;U=[(2,WO6([*(T<57*?V7$W'U'4B!:;'FK`EK0?!
MX9@..[11)K&$IJ4EGEE196@]@64;-"K.Y=BV'XDUE=<)*`,PVIAFF#-P%CQ-
M2%E0,H4&-96H-BY?;:UG3(DT"W=>%")(H/U<Q'2!]'RS`=7)WTHZEC"''H#*
M3QQS5;_S1]^>CJ7_`&!N;]TJWY4_C!`56R/B'=4+$-:B[97S,`U;@I6P"^F3
M=K9-F@V]:]@W%A1%JF%/3M6I0,*$MMV$^'(6BT[`C)'JH1SK*'KF>G1T=ED]
ME($,86PP@//QSXR^3QR+CYC!?',1)C\O\3E$2SG8SXT@)ILRF(21PR?H8?0\
MLS:2<8ZPJR?MD'2"J6M5\<M/<M21MSA^@J]+[%`7;&>@R>",JL,7P48C\\//
M/A;!VS?H)/HN29+:[.&4L/%$*0B\Y'.G#*9@WR64O50G8>$[U,81KL7PSLQW
M7LD,2T=+5F^LV?<`\J?SU93-/3=\/8_.NDGF]I0`()6+<V"WF&^VDHN@6M(E
ML7QT9/,Y=T?U^#J)#2$4AY4O-GIJ3S1M81K9L_@P-+!+)V-BH)[-%<ELQCHQ
MRKH-#X\,,V4;"Q<2S@8*-8(1^N$EE5[-]"HV.AJCLR)B&#**BHWN#WD9QT9&
MM4&,>P9H=NKCT0:,F35-)LU;(Z8QHD@@DFDGKC&NFN,<FSQQQQQQQQQQQQS%
M-XBM`&=_&M)P45UKE+6#&<">LC*W1B>J%Q9%2-Y8KJN4:Q-0BUUVG7P@('9B
ML)IR*_8F-B32P*E@!)[#5U!ID!SF8B+17%T95EA+L,48Z>A!046W=[F'&!*I
M-.MD,05Y3E<"%EC%06G"BEU#^.O=J&LH<FQ?:L\&W/NX91.;7WF-=7QC5HS"
MJY/.LH08UGUFH6N+"UB=3L`I"L0DQQ`R,A+PN"84!(2`F\1<M+[;RLHQQ(1Z
M^&\A);[OGJ>,.'&^ZBF=LX'5OYLM_7E?\)MPC_-D?Z\E_A->;"UF?T/I;^LQ
MG[H,>1%Y7]7?GZA/N2/[F.^3!XXXXXXXXXXXXXXXXXXXXXXXXXXXXXYC%:G5
MB4#VH[9SC_K-V*LD6M>7HXA"RZIQ0+*!]^U&::A@Z?:.%)6Q!J18R,9/1:[=
M9LZCD]5$MT7#55PBIG9.ZV>Z!%G_`%%7=W^]77>/V+GY2LWV6C263C)DB\/S
MMK/2\+NBI#RDU1512LC%*-W&':"D:^D+9<.V&Z+K&'*6S19'9-QC"VF=5<8W
MYW&G:C6/0EFS'H5W!9MY^2=3$X@UI6JFZ,Q+/<I[/)2521MW1.1D76R*67+Y
M[JN[<923RLMOG33R];Z<69^%8??21=UOAFJ&[75UFIJWRXPVW5U6W;X7^C)Z
MW"&RVFBNR.-\)Y4UU4SKG?77;'8^G0(_M*N[G]ZNN_\`YS<?3H$?VE7=S^]7
M7?\`\YN/IT"/[2KNY_>KKO\`^<W,,GBM5)VC\0&=I1[2/4+L%#MZLASEL1[V
MC'UD"9=+F3\;5C-(/5>T9+,G\'2&'FTGG7U6&7PF/\]E,N\ZH^#XB^COL!WL
M#K@8IW\-4!TYOCK3U:N&RHTI%7M9P%HE%O5-8ZTV/42TO.O+!*<)N;IIRN32
MSGHB91,$E+IN&=960+C9*CG:;T]WO\_JM_\`A]/;SQ^IGSQC/U_+SY^N.,YQ
MC'GG.,8Q[\Y]F,?J\X]+7.?+&VOGY>?EYX\_+W^?E[_+R]O.,YQG7.<9QG&<
M9\LXSYXS^KCD->CG]#.V?TY7>G^%Y<?)F<<<<<<<<<<<<<LJ96A(#)"[AF\6
MR=)-T6BFJRSERFIMEPAJMMC.B>FVF,:YV\L9QGVX]N?;RE_HW2W^P<;_`.V/
M/^KY>,3(%R<93F'#=)JJO\/3RB@HHHGKANLLAKG&ZF-=\YVUTQMMC./+&<YQ
MCV>7-=);^;+?UY7_``FW"/\`-D?Z\E_A->;"UF?T/I;^LQG[H,>1%Y7]7?GZ
MA/N2/[F.^3!XXXXXXXXXXXXXXXXXXXXXXXXXXXXXY^<Z:;9\\Z:YS]G.N,Y_
MX<XYQZM/_6]/[77_`!<>K3_UO3^UU_Q<>K3_`-;T_M=?\7'JT_\`6]/[77_%
MQZM/_6]/[77_`!<>K3_UO3^UU_Q<>K3_`-;T_M=?\7.?5Z8]VFF/][C_`!<U
MO?$\O7J%U([804E)^&)U$[$WN7BM=7BSM"P9^IJPNPZL'>V8RHP^+JAN04?8
M!E<]C`"D".F1`Z%9A>?K<&BHN?D6;)BU@U7N?RG+(CKDJ.KK=B(J4@HJTZZ"
M+'C86<312FHA@<C$44LXR82;J*H)2K!O+)M)%-%51+5XBMA-3?3T=LW(XY!W
MQ"[<84SUR?$LC;Y32J,O8%8AV"D#B!%Z=RV2@SC&"P0($%B2L/75;2YHSPZ@
MUK:/GB8I6,.O*F,CNCO%MG*&%AQVN[@@:Y'.8[*#788YSU@P\!12CCER<JAJ
MT7UJ*BZ1['E]5H=>!T%OD$P40[M+:SZWL6/%"6U&H^,C86@[EI6MH?,5T5LP
ME-JCN!XPLP@[+A(+<1L*4-<L^J,)S5V5W%!`)/-I-0P'X46""SXNL><.ZW:G
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MNSO]FF/_`!#%?]1R_P!U>MPZ)[R"H29E&CB.>X(?A"*43'M=]_@XU+N4O)=!
M+573T5D4]L^CMCTL8SKGZG;..9?N................................
M......:^O<0EF#/Q$Z2(&*%PD`0`;"E3HA$@P\4>J!D.L]E<C&6*;=&)?JM1
M1'2=A1):#$L*'.7]T'<;74W$C+V/?O&8+J9O76P/IKKKKC737&NNOGKKKKCR
MUUUUSG&-=<>6/+7&,>6,8QZ.,8QC7ZG&.?OCC.//[/ZF<X_8\N?G.N,^_P`_
M[;;R]WE[O/R\_P!'W^?M]_MXSCRQMY?8SGVYSGZWZ/(:]'/Z&=L_IRN]/\+R
MX^3,XXXXXXXXXXXXYA%[GXQGL*6^>NN?]"!#VYUUSG\[[7Z^<9SR+'HZ_P#F
M:?VFO^+F:GIQC&.N0_Y8QC'PXV]F,8QC\\$K];'ECFD.[_-3K[Z=?ME7AI^:
MFOWTU_;*7-XWMK\VLW^]A/\`&<?YA"Y)?I]\XBO_`+A/^*4YS(_W)M(GJ.DG
MQ,'GH%6D_(&%?"+,L.QHI/U&NA>814"ZCP"K@QNL1VO;<VU=JPU6URQ5:)DI
MD^C4Y!Q\6-GB"]@:EO?M[)6-U<!;9#JJ&W5L=1+SL0OAM%9=F4IWK5IK3,+$
MM9%"+E#$="0Q^,62WDIR%AR&Q9B')Y"3@$YA^S$V<D27[Z2VU8UW]:*[LBW$
M1-O9$PL=1I@@"MY-L()3`C99H%+:CR<RNXEMHO"0XC\&<26R;YUC.73ELT56
MV:(2MXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXYJ2>+D(=9P'Q3NK\L^K&
M'C#:Z-.M$U99W'TKUYWG-9<.[?B;^NRBLKAL*V``LB+S*I(-95U9"D/7%Y%4
MU04+'"@E!L)59BV=[;.GN_WV_G]W&^V,_J>?GY>_/EY>><Y]O/UQRCS^P06J
M@^<L&S#$9``49;)O"(P,9R-'!J$:K.D&2"\I-2SEI'LDUWKIJR;Y77TRX>.6
M[5'"BZZ2>]`1W9?KO+SK`7BKTJ&1(I2L6UUQL(QL@/=2C^GWC;9XTM%HR1F-
MUW%?NF>NSQN7I:[0*K/7=WH^RVTV5UK6N;.KFX@R(L2J#H1LD"(4W2D$9@I%
M$E0O,)LW:[!WM&SL(Z>QKS#5ZV<,W.$'&^S=T@L@MC15/?7$;>CG]#.V?TY7
M>G^%Y<?)F<<<<<<<<<<<<<U4O%$O:RP?N?8HV-S#!G$,QNMEF[=>!BGRNJCT
M.8N'&=G+I#=;?&RVVVVNNVV<:8SZ.OEC&,<Q\_3271_MBBO^2T%_DO-ICPP3
M">.NE021DCI%Y+.YNT$5UT&;=BGLFR-9YHWQJV:Z:(Z9U02TUVVUUQG?;&=]
MLYVSG.=.IW^:G7WTZ_;*O#3\U-?OIK^V4N;QO;7YM9O]["?XSC_,(7)+]/OG
M$5_]PG_%*<YEHN,?I<T@FH==P,%V*,/'S>9;C)\$1!Z/[R4*IC=E)YAIV+EH
MW20CE7.=V+S9MARVW4WW;*:;9VSSP1A_002Q%8L-$A,2C06$D1H)CA@"8P#`
M/'9=>.<RL`+-(J(:-QZ%DG$/$KR$5$)LV#U:+CE7+=51DUV2N.!O0E2+5BP2
M/CHB'BG"V^8R)A4X*/;.)9V\E':J#%NU:-M57[]R]D'BB*7I.'KIPZ7VW<.%
M-]ZXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXY@/>RW<6V^]EQDD;6_;:.
MKVG>P8304.2TT5]&1FCC"HQ:)J:XVQ$?`O;"`-;?F"@7*+5LB(G+!H30)D)<
M,U;C@B\7,(/$BWSWX\_K^?OS[_+W>>?+W?6\O=]?R]_GGSYSQR)W<JO[DL>H
MV$+0T)54K9$=959E,5)6N\29-`UH*E;*;DS@$7?UW:<"C;8RT:;NZO?%(3/"
M\.6;LIV<C)9I%9AI+$O,^%IV"FJU**4'HBCJ\"B2:F[KCRZ7M0]M"P8BQISI
MS/\`6>;HXJ=YJ4+P=UB8ETQ(GA?9+*1$5GH>8EP"PIYDIAE*+Y6.L%06<%C=
M]3MHMQ``/.P-TEMN/!JI2-T9PE;9FJ^KRNF3.&,BD%$-"J<7Q7V#B5F'M=P\
M>J2$+QLM#2*319[)TKX>,*]&Z,.1^2)R`VD(7MIW=C7IB5ZP&A.3N6O;>XDU
M9N?T%8(7&=99_MC*SS6`&X&)PKG.&<4S2\DL3KXXXXXXXXXXXXYIY>+E\^RS
M_P`%JL_$>/YC4YM[>$E\PX`_""VOQ](N:B+O\U.OOIU^V5>&GYJ:_?37]LI<
MW=NZ4_##/5>P9L@DFL1$LFP=EW(/-M]6[?UY:-MD?6;)Z*;X]:NJDCIY:9\]
M]]<9\L>><:__`-'BG/\`UC#/_M#O_(^2MZ16U6A-V=K:$'S6#EI9[@M^"1[-
M9QNX<?!PR?<K^KU4;)Z9]4@DHKOY[X\M--LX\\^6,YA+R_-@Y][2?^%9<L1R
M0U&?F8E^^HW_``#KE^N...................................:VG>"Q
MK`ZQ^)E6C48O[MFH*]AWO7@GDJ2V[+P$.,$TE,W\-T5-@W4*H#'KS;SJP9(<
MBG[*W.QU;Q=@51'B]8+R);&$T:H2K2`ULE:Y\\?7]^WO_0VSC&?N9]^OZ'ES
MGCCCG&WNS]S/['(:='/Z&=L_IRN]/\+RX^3,XXXXXXXXXXXXYIY>+E\^RS_P
M6JS\1X_F-3FWMX27S#@#\(+:_'TBYJ(N_P`U.OOIU^V5>&GYJ:_?37]LI<W%
M?%,^8'=/WI6W[Y(5S3DVSGSS[<^_/U\_9YD,\*K.<]\:-\\Y]UC?7_\`RP+^
M;-79VPA4)?AJ)$^<,U)%C-*M,(Q[Q[A31JO&)K9VV:I[X3SKLNEC&-\XSOC;
M.=<>6N>1;^CW6/\`LT^_XAE?^HY+OK`=#1LR,U1QZN\TCGT*D[RLQ=,LI[N6
MKY1'&N'6FF5,;:);YSG3&<:YQY9SYYQR5/''''''''''''''''''''''''''
M''''''''',1';OQ`R;K!W>I6B]E*.GPFW:^`Y%U&'1'<0>95C)3-[8JY^?9F
MP7KK;@4\@3!J4PX\,P1B;U^H](Q&:6V>QXVB03[++MC/G]CWYQ[,^?NSG'V,
M>WV>W'UL^>///OYSQRS?8:VG-#4;:]SM`,DL]>KP(G.?D$(OAN,(25$8B'<P
MZ81\B73$".L<ZM6:[ARZD9-/*#-!PHS:2DAAI%/<?9=XID4#V#9(\35+\3!E
M=TY"V6QGY4F/8PIMDEG*.:74VK:DXU_1K>HCHA;MI.-@'K9U?0^2-LZ3Y%N(
M?$8K.K-)I=?^P#ZU@^QGUDA;2G3NECT@K>WQI0S8F`B.3\$*BQ]\9C]B;0XD
MF1"3T%-Q>?TG),7%73%5U)1LG$-%8E5=>UWA[$PV:4B>EX<0098)DW;?N]-C
M90,RS">'2&&?]M[B68R\'-Q;AU&RT8]1SA5H_8.7#5RGG&Z*N^N<9Y.?CCCC
MCCCCCCCCFGEXN7S[+/\`P6JS\1X_F-3FWMX27S#@#\(+:_'TBYJ(N_S4Z^^G
M7[95X:?FIK]]-?VRES<5\4SY@=U?>E;?ODA7-./;WY^[G]GF0SPJ?GXT;]RQ
MOWL"_F>3Q#/Y]57_`&(+OV\/<QS<R?\`AW_SIM;^RXE^YLQS)#QQQQQQQQQQ
MQQQQQQQQQQQQQQQQQQQQQQQQQS5<\4LA5F/%(ZE2!35->#TS4TU1##KK.V^4
M^'PP:VN1$G9D)UMPIE!^UKX8]EB:K@NL95^SIB,KD0%3:'[.,'$O&Q,VFK".
MWNU#K[OK>S.V/9^AMG'M]N?;]G/GYYSY^?V.?KCE+G`=`V(&%H"5-5'PR;C,
M^($+)%TX9*NX(FB'D'+M4GC11)TT4<1S]RCHY;*)N&^V^%D=]%=-=L13-^@?
M7:RI!_N?L+$+A=^#Y"?H:3MOV:]JN-\ZS?4Y\L1^OMR?`Z-V&G6LD^&FYK`-
M8V79J.EB-GLW+U-R':]%'T&"4`'RPD&JE<SDD)9<S,2FP2^>L$X-RV::1T:^
M(2XL)W;Z4FI',-"PD"VRMOHV90<)%13-NBT9II\LWT712;U=:J""2:""7<?O
M.FDBCIJFDEIKV[N/&NB:>F-=---<>S&NN,8QCW8Y-#CCCCCCCCCGQ<N6[-NL
MZ=+)-VS9)1=PX6WU21001TV45654WSKHFDDGKLHHIOMKHGIKMOOMC77.<4R@
M>@[F>BQ9L8"S@FG!K<SA1Y`AAUIR7$$UVS50IBXA-[M(R`VFY>-&^\ZS;+16
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M=Q0`&2US0M'F,\!)=DQ4%9KONV#Q2%8V.?U#URMNN)AC/2)RS'F09:9]7K!E
MM+*.%)&'A2F2EU=@G7W?[[;_`)V?V/=SGCCW>_G'I:^?EZ6//R]+R\\>?H^[
MTO+W^7G[//W<X\\;:YSKG&<9QGRSC.,XS]S./9R&O1S^AG;/Z<KO3_"\N/DS
M..........6>[!U?%W71MMU)-0S`BC;$KLO$G$'*K*(1LFI,P3YHS:/UDE$M
MTVBC_=K\(VQOC7U6-L*8V2SOIM@DL3PVNU):S=`\",5V/E4[4M3XANSWRX:I
MD-:Y`>@!MU8(.O2<:A&.BQ4>(K2(7I<A+P"#P$5%['.YB9BG!-"L8(LRB>'I
M3-F4I59Y#62(QX)N36FY*!46W=U1,F,:.)5Y78AM\OB6D@2MZWGY92=$IC46
M4A1C5U#UFD##TQ(KR42M'Q>O5XN7S[+/_!:K/Q'C^8U.;>WA)?,.`/P@MK\?
M2+FHB[_-3K[Z=?ME7AI^:FOWTU_;*7-Q7Q3/F!W5]Z5M^^2%<TX]O?G[N?V>
M9#/"I^?C1OW+&_>P+^9;/%NO)I4)-1K1R-.Y[,Z/G[C3=M*-H[#7$=)B:6VN
M^J[-UE7*V7>,Z[:YTQIA/.,XV]+'EB!^G3BO_5W*_P#*:/\`^R.9M/"-N1K;
MT#>KAL/.H#$"0`;??5S)-Y'+K+^'(%M=M-D&C7"6$L-\Z[:[8WSOG?&<9QC7
M.,Y/;<MX#H\+='MB2;]A!HRD`/LFL(.D1B3D)*633(<%Q82#0^*G"PM)R*<D
M6<9#P`[#24F]<+9VT;X;HN%T;$0'?3JZ3F5<`D)8,D[G[0CA]Y`[*5]9#*%@
MWY<_+XD2$K((WPDV@*FL$JFP`W'QRN[-DA,VF",6F!YE!*S2"3%>86,XSC&<
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M2BG+;>11J?7E7XO;YM`]<+)M1=RU++3J^/"0:59/)0PE8&)>$K-G:,G8@-&F
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M(9X5/S\:-^Y8W[V!?R<GCN_GSZU_@M:?[M`W,!W-CGP'?SK]F/PIK'\7RCF7
M;M/1:W8BFIRN(V7AAHDWG0DL$2J:CBY^B,%(*8PA=$3#)Q7A_5-B0<HDI$J-
M(\E`;*"BT?7>?&<1-Z*(*-'<'J0\.2QJ8/J/=KW@&V=45-H-9N-KRP:YL=]*
M1]K$)':IS:UN0,XVOK2"F#8G+[5D4P"<M\3MB<J$/BTX@<EWI5/F!T0Y:<8\
ML8Q[,>6,8\L8\L8\L?6Q];'V,?6QSGCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
MCCG'E]?V_P##G]CS\N<\<<?_`%]C]CGYSIKG/GGS]WE^6V\ON^7GY>?_`.+R
M]+]'CRQKKG&//W9]^<[9_5SMG.<_JY]F/9[L<AKT<_H9VS^G*[T_PO+CY,SC
MCCCCCCCCF!OQR"8C&QGK?N/3\S!;NR>RM'>T1).X[9SHC`C.R.KC+55+*NJ6
MV^^R>-_2QIMMMG7&,YSS7E^BA9?_`*P33_E++_Y7S.OX'164$ACV+3(2.<G=
M&@S6&[727E'LCJVW6F3;5;9#5TLKA+975-/"F=,:YWQIIC;SQKCR@SXN7S[+
M/_!:K/Q'C^8U.;>WA)?,.`/P@MK\?2+FHB[_`#4Z^^G7[95X:?FIK]]-?VRE
MS<5\4SY@=U?>E;?ODA7-./;WY^[G]GF0SPJ?GXT;]RQOWL"_DY/'=_/GUK_!
M:T_W:!N8#N;'/@._G7[,?A36/XOE',G=C+KZ&Q!KHX<::X<M_+71=;77'\@-
M/=KKOC7&//V^6,8QY^>??GE$_"7/_I3K_P!I7_ZSDPJUVVW!Q_;?;;?;+5;S
MVWVVWVS_`":YQYYVVSG;.?+V>><YY6V^^FF,9WVUUQG;77&=LXQCTMML:ZX\
M\YQCSVVSC7&/?G.<8QYYSC&?FDY;K[KIHK)*J-E,).-$]]=]T%<IZ*X26UUS
MG*2F4E$U,)J8UWRFIHIC7T-]=L_;CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
MCCCEA)GM%U]';+FJ@G;;"XBQ1H9<&),-2$KAHN,C#0<?E[B;)'ZR6D./L4A:
M+D"+=68DF6<0K->2]'X)IE7E9U3;]8WF#1=DU`=#-B@DWL]2C"@4E&\M$N5X
MUTJQD&WPA#/I(NV#Q%5L]9N4T';5;3*:Z*>?+SCWT<_H9VS^G*[T_P`+RX^3
M,XXXXXXXXXY@`\>+\Z_6?\*;._%\7YKC<SY>!#^?3LG^"]6?NT<\AQXN7S[+
M/_!:K/Q'C^8U.;>WA)?,.`/P@MK\?2+FHB[_`#4Z^^G7[95X:?FIK]]-?VRE
MS<5\4SY@=U?>E;?ODA7-./;WY^[G]GF0SPJ?GXT;]RQOWL"_DY/'=_/GUK_!
M:T_W:!N8#N;'/@/9\A;LSG[!36.?_A\HY*R^;]^25NFX[\E?A_Q7(,D?A?QQ
M\&]?ZV%BW7I>H^+UO5^C\(]#R]9OY^AZ7GCS\L6CQV?\\XQ\B??GR_G_`/\`
M_*YE-H`D^5]/@Y'\#^+_`(TCG:WP/U_PGU'JY:1;^CZ_U2/K//U'I^?JM/+T
MO1\O9YYA'XC-*=N;F7H7Z7^-K@L!:SN2E[<*P`ILXLJV6(SFN>Q-,%XO+2DA
M!A!7&%=;!@5"V/-D8-)/HA:5(-QJ?9,RR0%(L1F;3^'WU6OBDNS5]EQ<,I!M
M7.1TC$49B4A`>)/NP!K(7Z?6##V_81,"6A8>]R3D2!S:<0E:1V,TD6*I%"@Y
MI5C'6.E7".9;CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCF'3M+X>-K7E;%
M^D-?SP!54#>(6_CRTU9V-?LK,V8JE0CVIAVL;<Z_2,F^H22"&),U$BMY88QO
M#&2@X/["+$5:34I-G,O-+K72]E`XU>LM;#T.'[#[!7`56Q.Q-.RTS+#-?*R]
M>U_6<;&"Y@5BPM+$LDG&5VR*I$CDP4>T6*)M^DG!;LV23E]1/AV#RHE1!L+K
MD1&7+#W;+NW$*E1@\9R)61;LNVUQ);3!&_CX^)8O)E]G'KGSAG&1[=1;.VR3
M1'7RUQ.[TL>?H^?U7EY^7U_+W>>?L8\_9CS]^<9\O=SGCCCCCCE'3EA@0Q).
MH<D-A,?E60=/V&]C9LBB(I\S`A5PP:DYJZ;/WC=5L)CKF4C6\X1+ZIQ$4L_9
MIOGB&SA+&W4K2TJUN8.C+"J0^#K-!)K=ZG$&(&21!8-22L:]7CI%)E-0;M['
MKK1\@V<,7R.B^56CQ!9LXT363WTQ@\\>+\Z_6?\`"FSOQ?%^:XW,^7@0_GT[
M)_@O5G[M'/(<>+E\^RS_`,%JL_$>/YC4YM[>$E\PX`_""VOQ](N:B+O\U.OO
MIU^V5>&GYJ:_?37]LI<W%?%,^8'=7WI6W[Y(5S3CV]^?NY_9YD,\*GY^-&_<
ML;][`OY.3QW?SY]:_P`%K3_=H&Y@.YL<>`_GR%>S6?L%%99_^'BGD9^]?:CY
M"=MKL$?D/\:?$9#"MOC#Y0?`_A/K@L8>^G\&^*''JO1^%>K\O7*>?H>GYX]+
MT<1-U[J^>VN/H<>_;&/ST_H_V"YL_P#1DVW->FU0&Z3#$0I*B4\^38Y<X?8:
M;M20E0TQEQE!MA?&=FN%<YR@GC&-O0SC/EZ6>]K;9MG77.9ACGSUUSG/Q?'^
M_.N,^?Y3[/NYVV%JF:[YD@I+,LIK/6:*FN&##&=DUG**6^N,XU\\9VTVSKC.
M/;C.<9Q[<8Y+'S]F<^S'EY^_W>S.??\`_P`\P\VGW2MFL>U=S;0Y6/W!2])0
M!+K9-*UN`*RI2%89TL,&H+$?*]HZ=GQCV,-;,G$/CD#"`LHK:N.O4Y#'%AO`
M\C19/2F4'AS]C"OM'U<@;/L"7&YJP6]CWD"&CL-$BT-#]):O;G.Q./:"\8;L
MF)"ZA6HQ&CR+:8?HZO)3?59S)HL)K,G%1\Y\Y\O?R&DMX@'4^.#I0ZCK04-H
M")M,XIE7Z&(4?VI+OC^L8M>;LF/@QVNA<FGR&'KZ&9OI4T+H2-?B0XS8/-Y.
M;050]5M+V,DF$S',)>*=H/XR49-)&/?-5,*MGC%\W3=,W3=37V*(.6RR2R6^
M/9NGOKMCV9YWN<8SC/GY?6]F?_K_`!<YXSG&/;GV?_[GRQC[N<^S&/KY]G.A
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M=-ML:+);?4JI;>2B>WLWUUS[.??CCCCCCG&WNS]S/['(:='/Z&=L_IRN]/\`
M"\N/GYLVMSM]W7ZQ6G!.C]R#P58=B0X\C6A%(:UK&N)MM6\B&2TL)Z.DHI8M
MD)"/F8Z+(5FCJ11CF[N.05;-EEL+3.X^Y_\`7[/*##Y6QY&6-FYP%BHM"QA(
MHRK^3'C]^8OR\5PAKNG/$T0\`P]$'F=W.=D=AIC+&[9-+&%\$BFVV4-:\YYD
MTO+-H>6<P$>REIUO&/UX:*DI16$CI*62:+*1T>_F4(R:6B63UYJBV=2:4/+*
ML$%5':<:_P!T=6BWD!#\QDQ.!?V"-P0@:.XY%8D&1DK=G,!"RFV=_7L8HM?"
MH0[GV:6,:93DG`G`J+9VVQF.1]#&=JJY!&]NK<F9W;.7B"!%`3A%,=/+QZ^S
ML=;8VL^B;,F#$WITJKP5M+,+".90AJ=FR"SB(F6[IY)+P.A6HK##,PE(RK7?
MU>B]#V10U>V8TM1W&[E5H7U9-QYB6=@3=N/1EB;Z#Z2(_,VT1A==3-BR"#F%
M=OFLL]"8'Y/P,A"@+;XZ:!Z!),XV?'B_.OUG_"FSOQ?%^:XW,^7@0_GT[)_@
MO5G[M'/(<>+E\^RS_P`%JL_$>/YC4YM[>$E\PX`_""VOQ](N:B+O\U.OOIU^
MV5>&GYJ:_?37]LI<W%?%,^8'=7WI6W[Y(5S3CV]^?NY_9YD,\*GY^-&_<L;]
M[`OY.3QW?SY]:_P6M/\`=H&Y@.YL;^!!^=3LW^$]9?B\4\Q7>);\^GL7^%0]
M^]Z&\@WI^7U_JM?V<<W#NAC[6,\,^KI'=/=71A45AO=TD]M=%%-6DR<N-M--
MMOJ==]\)YUUVV^IQG.,Y]F,\U]&W=4:V;-ML`Y5Y;-F^WMFXCSQZ2.FWEGZG
MVYQY^_E9@/<<<D3T$C]`LG2WD#D,8:*;S43MHGN])XEKJIOKKKZ6VFFRV-]]
M=?;MKKG7'MSCFVX3$S`4C,2DDDZ6;[.TV>-&FB2BOK%O6YUSG599#3T,82V]
M+/IYSCSQY:Y]OE'ENZZ]M3U:U&M1C#:S7&KC5>Q&]?A2!VMJ[8Z1CK54P11T
M(U,.8Y)-@OC>3SZYDGHT4])OIJGB[80:B4HYV'QJ'7B-/]$Y?9#1@P8,LKO9
M#=_)N<ILE]M<NY"2D7#]XME+UCQXY=/'*JCE9512YVV/2UVU\_+TM<X\_?Y>
M>/+SYB/[!>%RC<SF<GV5C!F">0O6\;:BF]E5-(6`$P\9?53!U63C+4<B+,!)
M-8\!]@N)-*U/TR-LW'2=%-UN++/6T=+QF4P-'51$1%Q5>?GRM8:'8.`6)RI[
MK)$Y&K#132,4GB*1U20U?SLQNUVDIA[JBEJ[DG3EQA)/"GH8J%7*F$U,I:Z[
MJXTVRGIOOE+7??&N<ZZ;*8T4RGKOMY:Y4QIOG3&<[XTVSCT<XMO#U&>XL%:O
M<69[9A;F`?6&<50=C\RVM7-B@B\JZJR+@2P.J&-V'!W<4K($WA8F)B&R[-%_
M*2.TE,D&)`LDR":D,IO+&]D0:S[*IDQ!:@-X>O#8FTA8M,HFXZ<D&C<:6(8G
M8[BV^XS-#Y##RI(#Z$(W#%$'*MI82E)9J2QOIOHMOIFT7AZ4M9/77IO1%'VP
MR!(LQK`14$%8BM-9+Y%PT#%34KH(P\,I+/7[U;2+%]XIDX6V<91V<([ZM]=4
MM,><S^8N_$>Z0VCW#S7.M=&88,H#P5=H!-IEDM:PVO';6^S`F;`[C7]0SP\^
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M,:#NRU%H$P`W!N8D86E'V6'D4^ZD,F1=>2^#=@ME6+$2,J$Z3HM52+Z3)'<,
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MILFV9.'3EDV0>.-\:HM5W#MJ@BONFJJX03TV5TQ;>%W2!95`_:,\:]?2SK%/
MG"56HNJC=?0W=!49\DAR<8XEDS$(MBT9^[KHDMI39M?'8RPTPTDN"9C15TV&
MTXJ!;.5,K''''''&<XQ[\^7NQ[?LYSY8Q^KGV8_1Y;X;MFK34;("\,L@#,!0
M5D"&&)B44+H`C@1^8$]=MBB(FI:%D'S&+E!S&N?CV.>KHO8G./)^@AGRQS%9
MU%\0WHP%UG96"?MK0$/M*=NNZ4M'INK/%]E7D3/]I+9GX.402;OUU=XV8A7[
M.4C'V-/@CYBZ0<-EE$U=<YD]^2C^';[_`*<SKSYX]V?HD0?L\_?_`$WG<:>)
MSX>;W#K=/NAUM129-]G;MR_MD4C&C9MIMC7===W)/VC5)+3.V,J;[K8QIKY[
M[^6F-ML>]^2)]#OMPNM^/NV^$XS^KCXW]G'Y(IT.^W"ZW_WX`G_M?GR4\1KH
M.EN@DKW*ZT)*NE-TFJ2MS`B2KM9-%1PHBU2WF=5'*J;9%9RHDAJINFV16<;Z
MZHI*;Z_7\D4Z'?;A=;_[\`3_`-K\?DBG0[[<+K?_`'X`G_M?D<NV7B9]5X#K
MK<\G2G<B@E;<A`=Q(A[,9LP!)29*86=()1RC$9V=2RK]9UJF]PS;J13O5WAL
M[V115PT7V1UV-O&6[0>EGR[<(>7GGR_E3`,^SS]G^D+E_>J_B^VR1=C:;@K?
M[=#^E82IJV9G&Q%&@`Y!X@MXV3W4S*3OR2B?BII\+39XV=_&3+&JF4],KZX4
MSKM?3QG.X/5:W1;KQ]"WL13MD;0Q/96TQ\A#R!,/BOUL./,M/C'Y..I/X#Z3
MYJ[98PZPC_)K1TT_-+9=)/`K]%>M/]N\!_=G7^1\S7>#)VTZP5&3=AY.U.P%
M1UO&R(Q7&&$@>F\*&L7GQ;+F*LCEL\)'$6V7PP2=ME7N4E=\-4ETE7'JT]]=
MLQ6\4/L70Y_W.L4H![>`2\;?#=;(,YX8GV\_#.EF0:Q;/46\I$8>L5E6;C79
MNZ23<;*-E]=D5]4U==M,8^OHKUI_MW@/[LZ_R/FTCX8G>'IS772\!$3[M#1`
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M&:[:=8;;*.OC^K>P%26.RAAZSFDN\`S>&,6L6[6G1)))I(N!MQ)HL76ZL>_2
MPV=;HK^M9.T_5^FV6QIA2^BO6G^W>`_NSK_(^9Z?!D[@]5:B$^QFUJ=B:<K;
M24(:Z<QRAZ>P(:F^;-(,D;NW#50D=1FKANU<.&Z#E='.Z*"SA!);?119+7?'
M!XA%^TD9=S;[)A*U0@F'98F@UHN='YI.:AY%)`&%&:RK&4C$W3!XFD[;.&RB
MC9PKIHX061VVPHGOKK#?6V*TQMKYG$!^6Q_3G7V?O/FTOU"[Q=.!;PZ`(`)N
MT5#CIS]!^S8S`=.V<*0Y1M)*.#ETG'Z#\C(MI?=_NV70<ZLM6676S==!?5'9
M)9+??5?:VM6NK1IKL;0.-M6C;7;7*SO&==M4$\;:YQEGYXSC.,XSC/MQG&<9
MY75;W%5;&QZZ?/3\9:,F-A`CUX[<NUT&S5FS+89RZ=.5U6NB2#=LW257765W
MT3113W44VUTUVVQLU>)?XDO7UEUZ1UZ[=OZ<D;&:V@&)R+&OK&#BPC;#CMH3
M*.UG4/&N)AVA&.-D&V_PY1GHAOC339-QZ.?JL"'Y)S<7VT+G^TC?XO\`,@GA
MI>)4PD>Q[IMV"[6"C,"^AD7*)*G<_`#$'L1:2@M\5I:23]E$H;2.[;:2^",\
M.ME7&FKC*:"N4\YTN?XE'BK#(]:U>I=7^T=2$X4]KA=U-R`3,C=@Q6A(D73#
M'=NO+PRLFV:O$F+=+51ANOHMIZ&=]TL9\\\QS_DN]W_;`"O_`"<8_P"1<S.>
M&MXH=,$-2V++=HNU]("Y!'V-AM"Y-S(3KU3Y-;"H^KATFWF7D7Z]C\<*OD/C
M'T=D,.?2:96PIIA/DZWOBM^'2P>.F+CM]2WPAFY6:K^I*$72/KFZFR2GJG+?
M11NX3]/7/H+(*;I*:^6Z>^VN<9SUOR6;PX\>>?IOJ;_1_E@SYY__`&?;RII#
MQ.?#YC8%0A<=Q.ON[36(=S2#!K9@T[(9!JQC]I-RWBAAN^4()6529Z;*9AH^
M.<2OI>27P3UF<:\L9^3=^&9]LK&?9_.387U__P!,>S[F?;CZ_/2AO&F\-2<E
MXN%:=FQQNZEY!G&MEY4<,X:+17>KZ-TE9&7E(!K&13%/=3&SJ1D'3=DS1QNN
MZ721TVWQV[U\8#HA2\'%R[+L!65HNG\VE#NX&K34=.9Z%37C'TDVE)F)@9)T
M^C(IUJRV;M7[Q%%LZ<;Z)-U%-O2]&,/_`-H,Z2?^GDW_`!&Y_P"GR^%$>-/T
M<NPDF1]Q:PY6>L1!ZS.DM9LM'!<3);[R+:/Q&1KZ;>-D'LICX3\*RQ;[;N/@
MB2SCT/5)[[8D^AXC?09TBFY:=R^L[MLMKZ:+EI<X(Y;+:8VVTSNBX0FE$5M,
M;Z[:9W3WVU]/7;7S]+7.,?7\D4Z'?;A=;_[\`3_VOSYK>(UT';IY6<]RNL[5
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MK^2*=#OMPNM_]^`)_P"U^?%QXCG09HCNX=]R^M#5NGZ/K'#JY@5NAIZ>^J2>
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M6,O61-"RVZ\B1OIF51;!E007=2^1WK+V5FRTTI"P+2J,KZZ"PM=0R.S`Y2VR
M?:89H>;BRDD&-3&?=*#U*K7;M/S/P0S9Y+*UB1>8DGHT_GW[Y/VP^UCBUS7H
MVI9#Z`GC2M^^G<"D9PU$HEP/C9^O3O7;N`!I&L6/.)2=P/.9AM$HZD(^VG)E
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M2,Z_DIJLX&HY6_Q<XIN9K>S[=G+>[-#?7E:MA\?9GL@/`IC5\5-M2B6*@96P
M@H^*SBJV,(Q@(":D62D[R/LQ=@YX@$159`\CXSK1,RU<UH'.15K4AK*D%L&-
M36E9;^/L9%"VM+HK5GNV%8I<4?I5(_@G[5@N\D'V@[,*D4)#BRNR5W=;^E0,
M049.CD)+R_<[N+L9N%AB`LP\;UY$=W[KV(Y42IJ9.Z]EK`'H_P",F:=CK@LI
M-'XT/O6S@9&E7,BJ1C,F>L'=>T;E[$PL3*D=7$%.VRY[(0`&*B0^0Q!Q7>_6
M:2J"'0/2>;FIY=W,PEW)62H6,8"7$A=\$P1-43%-W,O9F9</H<)]T;E[-]4/
M$E@K:;BK8=4Z<E-R4>X@82.BDIVN2\@['UMF4%Y6+L4Y?&==Y;U4+O80FL8:
MI6U-Y^;)6A%543&:0VK28UV=N[IKOQ&*@I%L5`\7017$,Q=\Q0%VIVK)VL5[
M12@Z*V45#!AM8E"%DKF4BMZW<3%73-8D\+(;K29$^EY9)N%U&R[6WMKT19VZ
M4O*E&+\GK\D^O:Y$UCR"0IL!DY7O$_ZGLK!=1DO,PD_."X)#.(XD<(RLF/;D
M\JS;-95<7:S2_P`7>&+6D76].^'H0G;X?FBP=[L]Q:FFBL0CEX@6.'-)4KW>
MJ#4\'XAQ*3NT0T,$0I.?<0J4U,M(.4?2$,QE)!FP0=*Q2CO$-[:IC?B(O4R.
ME)LZI$6G+>HL=D1-\YK)6HA=S"I3!97]QU@9F4#=X]F*>IH:1)9K6=@Q=@/T
M$"N-'!Q\I"#$ZO$=[)7-UNKYJ>4J3U>F[!AHZM(]`":(CBH],0@"=!",JZA8
M.3M2LE8FL!1F5.):YSH8U/+%%F3H,;@%:FDR08B7'AV;8!175X=_K`KMZ&-S
M*%ZA],784XL&<B1L46(I`Y[B,(!N^DB2:%X+X;(/W[5I`Q<Z3BL3.D+B*@I0
ME'6DBO,,K2]1^Z78FU8/HKH43003)VC:5TTYV.D""MR>JK9A#@&Z^&UOB@[@
M`;3$\`P\FU4&6SDP*1DM(!4C8/81P$Q;!E+R/Q->5+LE>,?X@B]2ECR+8]<Y
MXC@JRJGY(H5`9.B2PENNDK=Y$WLAQ'V\O<]:N6Z4/..A[=[4?R;?Q4)&;OY%
MM'F,%-N(#Q7;FY*!G^M`@-%8:-4B2]HNW^+E<["#*SI]!,O[Y]F!4;1/X&(.
M82S*N`YUY'YCP6UA$*-('8Z;3B)ZI%CHLK%DL^&W;NWQ;K)WZMZRFU4,CCJ]
M8?9`?!F4<Z*DP%>(KL,'RFLFI3*.M$2"1=O-B*-:E\@S80J*KY9RA')1T<BE
M)\C63WG;EX>&=W-^CHT186A5!P<U"2L51L=#R-LF/2];$<!DT&`BS;EK^(*7
M@V7Q,@YT`[2,AI[%.HB31>QLB^DQ^'J_L+W8O&H^];RJT3RFQ.CM*E,$H!<Y
MBD)*O\7&WK5>Q(AA?%MB9DY/.NDHR]%`AU3*ZP4KN:IO'QU'$4D7DL=@6JP<
M[2]F(WIX7V87D`*L6D%Z5!55&7<4U5/58+3->7F;4A7C*^C.CY<[>E`X*!1/
M:)8N+Q9,0!TM8(L+ADV0108T,<R*O4#+1+;?M'P_"`]>P,T5CO8#OY4TV6!\
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MEBVN-U7URF=N)NS5('ZTCM6AR&K@.((:9L%IV"N-I-CE8"KD7:?`F<I-.R-X
MQWB"+U(6O(QCUSGB2`K*J/DFWJ$Q=DMA+]=92\9]"R5XZWE[GK1R@C$3;P>V
M>U'D;?Q,+&;OY)O'&,%..('%'9Z[.LG1KK'.TT1#(XA*W7V"D;.D'8?%6J8L
M*W&.R9OF<F(NGUSP#+"VO(W$]JG:T_62A+8@@T>BZ<`.Z;$:Q!!SUH+LQ=-A
M]@+BWD2ZJ+!ZU"H[8;I0E`!<JA1NK2L3G!'8(!$K6(97+RY3H@`)8E*+UAAB
MND8:ARF*BP)8C?$BKJ#<P`B>W=X]I.AG=W6]X\>BYF'J/KY:H4UAQ^&'U%J\
M["1+0O@WT=\G+1M>-(Z]4D(&89UL7SLD$67.PS%YFR:K")QHDG(R([,=VKVJ
M'N^_JAC9]&UU2Z]7SD,*SEECZ)'6<?>$F&-BH;;WY9(C8+,_HF99/)!C.Q\(
M4`L?7AE5F[-2.-<EIE'O`[WQ/N3V)=]8#/)1)B`YV!@>[X]TIW.RL!8QT,&X
M-;/K<6A;1.:W#[7-0Y>70$;(BI.!'1:XY47(IZ7!F$],"<I,$HD.^F"VR2WB
M:^&A8!JJ/.RE>T>[(7/S`:DY0%B=_583<=4KF@PS<O)1PPA#?`5J7Q49F3E]
M8UI-HL$):51;IOW,/A[Q"NYA+!]FH2.LVD=+?#2.:L:J@)"N0\C6/:7@0(N)
MTV/6`QQV,$:A[&CTW(0,1(O2(HL8`L@-KV-L8BGA%.:D1`=&I>]I>[5S`O7[
MKUV'J$FISXMF:E!K]MP`=1JA,5SM>%4G3K61)X"+)#ZLRD;I`-C3^>7.SJ#&
M;"MB,FI*KH^`J:?6D)R(>=^T;`.:HM/Q-3NL7(HUL*`JKIXF%*&LI`14(J12
M["S!^,:)*E1$'C$B3/EY35D#CA`6B\,7'#@=%9`@B&TRH^0CE2WB#=DBA#IV
M125BU:<#)79E6=?.R0S]";8#M<*L:S2`Z&V\S;XP]MU2:JEV\DX@1&ZOVJP%
MMVO;*+FM@SDM-`-<+0\L+3#'.R=V9\0$BI\V?1C.@Y\I?5Y1R0HA4):F2%`O
MUX"[D+L6),0ENR-O5U/LWS@\7B(TBJ>.'GL%$CJ;V28JEPB^)8!2?:RY^L71
MSP^9"J"45&1V40FIJY)1X%,;;*8RN1DF4P]EEZH0/`H\D*I:?&KK2RC6JV9B
M=B+I4/;1\&U1GEWO)WT1VTMF=[5W!6MCEU2%]0.*>-+VITOKA@VP,MAD$N62
MK*=&&)Q$GYM+FDD%QZPU'W(Y-:^J>6'K7WG(2NX`Y&&[U49@D/=N[Q[2=-NQ
M^+WCQZ+F8:0Z$6J%-H<?AAY1:O.PMG5T7PCZ.^3EH6M&$=>J2$#,,ZV+YV2"
M++G85B\S9-5A$XT13D9&W1X@M@T%WO.!*Q9^-UZM"%4D4BP'0.MOHHD90=C5
M:OK0E1=<O"C9Z95Y>6S9@]?0U<G];Q0$15GK$RL*1.B*?;R#+N5EX@%H6YTF
M;VI$$M-Q%U$_<Q[U*<E0_'D)?4=1+$_:?%2#1$[9RDJ-2!VN+5S-C&6+A>5&
MX2P+#D(793(]"3^8UE[=8V^1W/;'A\62;N!AP3?)_P`0T2(9L6RY8AQ(^J8J
M&*L<&H^DY<RSB*'C70(P81[',C-:Q+&:39H2DLBU2?.8.+>+S>U9==>VQ+91
M!6\M?4!-3#RAXY[74HRI@6&G8399Q%&;BUZP.+""[BH][#5E-HU-/,9\9L4Y
M,$XX,,&D"Y+XQW`9"N['<6SZIJZI;LH(TJ:3$?D9$7+8@E,QC0E."VJI,LJN
M"6,HV*?6-7\F-4Z)PYI..K(-Q"%LZR8@EDZTBQ6KR3X=,Q;VC;5LVPJ;F?%6
M/*D<C3:S(:>ZRLPC<J>#;=NK.3%'@,*BWA&9@3!0H1G#AN^<)5^($!:.Q)@;
M[0(VZD=$Y/U*UH*K\5R9G3+P^:EG2@1>D=Q%:PCV/+2VM#NJ9=W.RPW?\$$A
M``$OWLK$1M@1]G5"DUNB0;D<Z%#&_P`5,Q7X1&6/"O!F68_V1NW7Q`R2G#AY
M',:$G2I]7='HBS>HBS4C*1?KR%W(7:V++PENR-OUR0,GS@\6B8TAJ>.'GL'$
M#J;V29*%PB^)H`2?:RZ.L71OP^I"IR43&1Z50FYFXY1^&Q]K$T978T3*X>2S
MJK4CP).GE2L\RSK6SCJKF9@<!KA4118PC1O..'W)H4;XDT1<79;N+7J<L#0U
M;T12D-8E=LYEL:PQR^R'&MVA%R&5C:.85=Q"""TT"#CD&BH8=D"!8!4:'BJ$
MDJ9L8&$B&/=K+Q[.=&>QN.P<?!0YT('O2(GAHR,@8$<?_(*\B'KO:P^]79B5
MH7"-20UO*RY'%@1'@OC"Z9%H=KN?@@D4(/-)'8@TUQY9SY[?EU<_E]L8_FFW
MZ/ECG[]''V=O[??_`*7-?GQT,>6W6'^N7;[\YS_2J=^SS8(XXXXXYQM[L_<S
M^QR"/4HP$P"CKQ,CHF@`T1'>WO>Z2GR@JF8X?'82.0[=W'E9_+S4NY9QL<S2
MQG'K'+QTBEKG.,9W]+.,9^'9+OJ'4$5]6Q2%!YJVW':@D3C@IV+E@$,,W,!N
MPCGVDD)N3^?&V-D%#U"9BY"'KL2?*D<K!_&$MILWPC&-)F+'8KNH(=B>IW>X
M'B@,[#FS?JO>YM5185)0.8&[JN@'AC54M8P;I#3$G*PD4F:0F,LX<U8#Y#("
MI&'%;>/RSG5FT7D0MBMNO`P1O.X-A50+35DT=5Y]LQLUJ"($]FP8`WBW$\4P
MPPHQ8.R"1<.6$<]0C8R.T<2>=9*7B8;""))--I*,?6ZZ?#=N-B/TE20;4T$F
M95X0%32GG5!HUU$K0M@A``4VF%KQ4B"1`$_.-0NP*^=7A6$7)2I;#0Q"/+V!
M!(Q#Z.<*5Q<(:(5[;WAQ!8"*C@0'#O82TV`^)B$'%C(U!,->E_:575E#0,(U
M8Q46TU5544U;,6B".%%-]\:>GOMMGR[V#^AO6"`))VSNO5=8&^W]\UJ'6KK&
MT9%'<(?V02NL)BQ3;\:C`2D8@*CSJ#6(Y<K)&R8^.R?Q@4K[:D4N^?/ZKJF7
MZ)]S1)=P!!E,VX,@92'3688HII@T5&R/Y`#3NLS5@)6,$Q$HT;RE6J";VK+"
MC8CXF(Z\U@G8+/R0PBSW2Z0T.#YAW3[DBA9!Q!,,$?5WIQ"D`[/QS.8A)R'D
MBWNBTD(J7BI%%RPDHY\U54;NV3QNLV<(J;IJI[Z;9QFU9J:^'/U'/*6Z]$U-
M"03)TQ6J5C]?U(GKE*FD8#H%5F0%6LQRH9X:"BJ?WN>P3N5C-$`L%T?V0;KZ
MJ3#QO(NO5KK2UJ<<ZPV2QK7L?3H=3I!B1KB(AJOMT3"A5*<:U<NDMO'"HX3(
MPS4A@A=M\)>-U!!->.;13S+^/>1+-XF];:Q>ZVT/2_83JND(7C5X/:XO#=L^
MW1E%0)X.1A+&1Y,-=X;]D(>8:M91NNFBZ;+)Y17]'&$9".</HB33>1$@_8N?
M%9]NO#?8W+9J4Y!AP%<GT8DZ1L`K+^OTK`3Q.15(351##9.3'^@(XTVJ@<L`
MTJP5`;8.YZ)KYN?N!B!')Y&;Q!)J57W6INH:KZ.]\96L*LK>NI.P*'N$@/)$
M#!A80?&Q!D3)W>\X7/!V*C7!),Y>2TJYVDIE5Z]^$R4@ME;UKQSNK?6\A#KA
M6SV<[OV;4X_-G_7:I;#E$+-BJ^2+K5@:]BXER2E40*98,7,^_=+,8MXE&LF>
M=WB&DA,,H]=BQGI_5[:ZO>P/13L5-I4=!-@`@GR@#*Y-S69E4;V)92$&?Q8!
M:EM@CM,M#6H;+F.6M@U\77K5#24DS&"=$,#,68-,UG+5WS[W0*C`/<7APB`6
M.P0B*#O8"S8H?&!>(CQ\>@HMKTI[0Z-8V&A8ALSC8M@VT^H;LV+5!NCKC&J:
M>N/9S]60VZ9=/I)Q+3E,BPLKW<NR'KFQ9D2J%&:BCDW(1`B?_'5T/8N(<1L6
M$H#PG/O2,@*?4C#%P[F9Z6U^$RY)++>Y6I3TC[OL'1F(#=373D(-AHN5=FE1
MH:$@\:206*S@'8K2)LX+BB=JL15WJ'3-<V6PC_B\L!T1^4#2*5@&S%='Q1H<
M'S#NGW)%"R#B"88(^KO3B%(!V?CF<Q"3D/)%O=%I(14O%2*+EA)1SYJJHW=L
MGC=9LX14W353WTVSC-*.[NZ-]-207ZLI@Z54LZ4K8,LBMX@8I`MF!:+1M0[G
M:0%QVK'8B*D$F4W,<D;Z=A_D:&M9FQRQI-33I9"5U<$.R4C*?'.L)\R!>R%)
MAU/2_P`IJX@H8#MT+"A5I.N*NU2QM"BL83-(9F11PO'8QNVT#U5V3:%=H.(Y
MS$,7C5PV2B=U4HZC#NJ`VX++JH.-3JB^R_>XGK0PE0U`G+09\MW"[$:2#P2V
M;Q[^:R^40QE=HQCD';G,L@P?Q33X]:QSA+VJF[D]`^RN:S&8+0<5GNQ(ZUL2
M#!;%I>:@).0D;;J\H??$1SN0!NPG"VM8%,P1=(Z@A)/IG1Y4;&6GHJ+(:\6Q
M).?UWBK.MZC\/>_PFJ``(K(+8!J[M@(UZ*0`6+LG,D70+R0<,X`:CXR);+OW
M:BCIXLBTT4=.5-UU]U%=L[9N]V#J[JB),[,[?W31H2;$%;439L28F&]71]AG
M<C2[6$D9@W"6\3B,D7Q0PEH1B_C<P.[=UEY'/Y.$QLE#R\NW<6=Z^6%X;5N;
MR-#4G7]*L=B<,*"*>J;7KZU`H6<A2&+K%2V!][&2U?PH25$,(A,51#7N$QKV
M=GPR1W"X.SHJ+>(0[9+VK?%AD&[*^'6(A8[!B`H.$W8:*'AD7B(\?'X&,:]<
M"O5K&PL+$-V<;%L&VOU+=FQ:MVZ.OL33UQRG[[K_`,.CJ]%QJ]N]:JB1&.S'
M8N.V(WJM`#YR)+W!)`AF_P![.LU9<<E84.B(8,@##>8/)G5A$0+24(7KA9NG
M.$KU:Y=-)]$NUH7&2E7UM2YZ*U48P*\1#SE&1XZ]K8U9!`3)!TS'A-A`8^0!
MLHM6F]=RH(1MH*-TEJ]V#)84D7@Q\1N-:.!@X5L/MQW[!SH=A2\.+:TZGP1.
M,$<:TF(*?AI$/N-!]&2T6_27:/F3I+;.BR#A+?3;V;8QC?77;%L#PB\,'K-:
MH+2!MU^KH5,J8J2L"&HI-OU5>'*D,.2]CE(M7`)4)(.5\6E4_8V#-D6$K`%"
M=),OQZPF-]FZBNA/)-INU:)=:S)`%[&4\&4_*JE-9BD<`7"%APDE,251.H]H
M[%(*!,8^(;S6@/I&*M]XL>1>HQ3)'T44X]OLGLEI#KJ+0=*7]TWI^(NVK0:U
M(H,M^X3L6CSD<C"-K`ET!V3MAU%3L:E)(+:-GB"B>J:^,?R,_:;*L9)%TP66
M;[^*"]E?"]:6^49C`&M:QNN5O0OJ<DGYWK,Y"2Z<L,4NR`&,E92<MZ[QJP%"
M^_'H]'5_9AX00L`>VU\"C1R6?GC/9FVJ_NU3504QT0[0Q=/576]4Q9".:3T_
M'5L"BX(PG)W>?&VRDU,,Q:*B6\E+[MTDD%)%\FL\V12T2RMZ&FNN+S]C@OJC
M5D99_=ZZ*5&"HCJ"BK*:%AU'U8A8=DN*<:1#Z3,@^/C6D9(29`SDX=L]C=XM
M5+=',5(2\:Z=,1V3G<*T#5!QX=UKO'G52MPNEW*,0&%S1>E5Z(1%@W47=2H(
M46N%1L)/`$.`S+T;*2FOG=XUW`K2<R"&DF-HVA`PA)LR3T^USC\")=FO#L&!
M6%B1H:'23L##CX^/QK.%A(.(CNM90VCXN'B8U!JPBXYBW33;LF+%N@U:H)Z)
M())IZ:ZX\&ZP/P[^M6(>`M3KE4[,=[;7V\?E#EQ0<*8U_(6J.U<>6([LRWG[
MD:E!<-BAT)!R^06-"/9C&P:KV<F,[,VK\QFD+KU;,=+>X[%M9(0'59:B]<'\
M?-M9,OIM.+,P*R'`@#3\"5)0MFA,(:BA%+@&M;D`H7:1D>N0@^H3.#LK(#ND
M$ZTMR#!PK8?;COV#G0["EX<6UIU/@B<8(XUI,04_#2(?<:#Z,EHM^DNT?,G2
M6V=%D'"6^FWLVQC&^NNV*!)+/\-?J?:XQ3LY40C7!SUSJ.OE*EF(OK(0$CN!
M"[7D;8AHL#I(I%:^)BN?(7C4$LXE-A4%S(26@WH8&)'ERT9'CZ)FM6H'UWD]
MAF_*A!:AW>&]<!;(6MP$#P]M*$E2+Q,0\!XN*-(:+0DY`"U@-8A8;BDI#>"0
MC=&.&#5-!%#5.%_32@*2O?H_T_S<U5@UG?0W:-3P$^6HY&D/R5+XTG(/@4[#
M8D$%L-'>F<)^MUQYMG7J6^7B"^&R'JOU6/;+PW92R)^,&QT-KRV+2O:4""_Y
M0]=IH"*#.V:OO`EJX,*+%)%*_;MFZA+<X[.Q5#F=ESL4X.SAK(Q("Y=G$?-1
M##T^Y]-5!3'3JTHNGJKKBJ8LBLBB)^?C:V!1<$83D[OV#J!LI-3#,6BHEO)2
M^[=)-#>1?)+O-D4]$LK>AIKKB_%W#W63K^I:7?P^J:(<6#4M,%K@LM(2KI0M
MM]6L!%D[(94?A=81BX()53+1EN@W01SHIAGC#1V_:02+C*%'U];_`$5[1SQ=
M2PS'5M84QL-FTD6@194+QJPG8&9,AQW<++U)R$L1PWVB[/>C+*]X:$=D#D0M
M3>*A[3:1)OHV:Z^/90_`B7<7H:+BL+$C0T.UQVQAA\>'XYG"PD%$1P=3C:/B
MH:)C46K"+CF+=--NS8L6Z#5JCIHD@DGIKKKC]6$_Z-]"(E*)FZM$*I">V5J&
M<:?/Q:JMUJ\ER5>KCRQC<JN^3B8A<<'@G`("%&9F6+=T1UHU4=8W:(Q&9]XR
MN%6:_3CMW$,+,#@2L+,^AU9;Q^TD#.FDXDVKBW6\4)32\LY'K."H0[`K`<#V
MP)/M)9[$0T[*#2P:0,'3N%<0+[>T=;@`3:W8/Q(:YLD6@S@%,Y_K[!%0F31S
M>7@I^(>];Q35RQDH]WHH@X2WSC533.VN%4'":3ENHDY125T%W93HMU=)(_JL
M3#/T/6=)5[6Q0`BD71!P0!K>*LI*V@@<':B:"(61JE)KH,`]H.2B#"HR2FF`
M#@QFII52$9'BT3*:N0?KU,+#O8&I@BI'$B>5X'-AJX`@1$49@IJAU%Q+X*CX
MTWB(M&5DP7,%B)<#T:G(J0B4?HQ^`MDT$D-=(6],Z`I*]^C_`$_S<U6`UG?0
MW:-#P$^6HY&D'R5+XTG(/@4[#8D$%O@CQ/.$_6ZZ^;9UZEOEX@OALW]55POW
MPZ+V0?L8![)Z1%FREK2-.,VED4Z:P4_H8U5=1I4P0I+SLV&[L!.#(;A9F<+0
M<T930ZU-C-T10E?8<FFA'#-?([F4[4=*=+K'&::JZNJF&Y*QJ)G)`?K,'&`*
M$?S2O8"FF*TN]B12*B&#F459,6;15^NWW=[MFC9OLKE%NEIID:?Z[*1S])/+
MS"N[5]KIB.6;H2'I;:+ZZ99+.U$FR+KTLX^#*N%$T$W'J]UE-$]=]L10ZDQO
M:V,B3#'9"<B),;5<P>]0LIU47E[YAXC5&2U(V][EM810M29!.J.?BG$`G6(F
MV;Q;)%\G/DYE(N4Y-'%OXZ'Y;K!_7+M_P5.\V"......<;>[/W,_L<Q?TIUS
MJ_L731A&V-%R2DE7_?3O(?5L6#TW)#A=75@->T=\P,<:B,U&K:?!)R/C)R4:
MI:2+64B'3=XX:R<2_:*J-]KJ=J.B(QVRC*@@#ZW+8:#M<R4:J9P#1X)/X:YH
MN/9[)YP80LN*O(`:--I'&'[&SZUAPTX'D)$AC1J2B$)-@K"1F[,=,:QZ\]0^
M\IL)D%A$"\AU7O@3"H(TGXF4':?`)^1.;7F*]K1I%#D%((##TW)%G_KC64-B
M=G%PXN*L"-J*C$+#-)Y6=>W7'4^;=4+!MD1'[1MX$*EXBOG<\A&%$P*KQS^-
MEW4?NNGLS:O%&&TDYBFCMPE(R;>+EY"*8R#.$EE6D&.JM,=&:O$VO;&O>VLU
M:U,4S%%ZF2DNM@`?4L#'*]>`5?VG;*^XT)BVD*9&H<(PKN6C74UFN&'RPG2>
MM@0<VL)Q(2E][*LD"MZSO#<L>L2V!.@8G[#VXY@2@9D$92(DM&73GM7%2"2+
MEOG/H.XR68OHF58+Z(OHN68O8N0;-G[1PW3I?L;=/0OL8`6D%V%V="H(=ZU6
MO7#^Y'$,804>X&9^/)VK./#"#:<B9-%_"'[E^_K216&6[F24D9.6@Q>>A3V(
MT7B?2JN-ZF=!P6)+)_L7.%3*\TJ_A0VT+?.8HWG3,/KFL$V=8B8>_!A>&C)T
M6$*WCG\ZVG4861GI]*2G3@Y+B:8EG<TI54"7C`/W([F&Y?/10T(C'5CIP0$!
M'-/$8^'AX6.*^Z+U])R+YSMHBU9MFR>ZRJJFV,8UQY8\]\ZZYC_;+CHAV]-N
MLMQQW<A8.+;%8.![K5)UG8`(/RY&9!EF!AJQGX"(.@HD=.#,*)V6`:1#2R'6
M%)MM8LH!'H*0S$L--&,P*DGNM'7-]67288M$?;V-'A[B4%P$K-FLK:ABTV5G
M"4@+9+1UNBZFB(E>H%QK+Y;MFBK_`%;$TS%Q#>!B'>(Z//7WL32'6OJDD9WQ
M9@I5PM-=L.X0E&319(98,WL]-]U^P2+)BCG1)=7.NFFJKR1>[):Q\+%-GDS,
MNX^)9.WJ/B2G1GJU;5ZVI),[ZL>1+2E_!69<=2!MD`ND#/U;9DT$%`V"FT(P
M#WQ$A5Y@;4<_+!V<8SD'8,@G,6*+Q=@*5O/.!9.J^X][4S<?2'Q`86J;-";`
ME:MI:YP^PX\3(8^;=B!,B(DC9:)G$6:RF[-QA]&R\?Z><;-MI.'FHQ-?9_#2
MC9G("Z+:ZVDI.ZZ66-;0V/6;?]:&T1%U]I.MHTUF1.?AI,;EW,'EVV<L&\NJ
MP>23B`9/<YD)7$9)OHJ+E&<++9;1<J"ANH='L4^XJ79DB,:J`VQS+MR4UM`$
M=T<.V3(Q`Q1]R6S%*C(N/HH')S(URO`3L`U('M=PQG/&J-9U\+2Y=().;F6E
M8(1:EH^&S8=;E4";@Y7?]HR@X4C$DVF(289;=+^TJ&RK)\TW424V0<HKLW2&
M<ZN6;UNY9.T4';==!/P[MLWH]VCA3H8*>R0:QB^HUG0A5=6(DU&H9J,J-HH@
M#)D5.GQ)'.FV`PR@#4F`)N7&EV\DSEGKV,&2N!.X379AWP$6ZQ>'1'MF)[?1
M;)$UP.A,0@BJ]BMD2G1!`TZ#QPD%@\*F(B(\U<P->"GFJYEG`^X(9*0GI4IL
M`K(2&;<2JON0A8-`?<ON<9F4Y%C`H+=6NG4Z1D,V\1CXB%AXPL[HNW\C(OG&
MVB#5HU;I;JJJJ;8QC&OECTMLZZYM(7"'3WNL5TY?(3VIFHN>M"%B!^A9>J#@
M%B):1-*$,I>Z692)09D%$,J_.*Z9.3^%-@DKA94-<A!61P]D5\_=)0CJ-DQ3
M1!UFH&1!.D09:@YFRA<+WF(NOB4X:3-K$C%9=\1SY=-)N%$7<N1D+Y[,FT_A
MLV:KJIOI"=:0S$=T2RWCMUZ[(45ULZQQ$_>]I!]60Q=VV[C!X[(E\II&-9,@
MDNZO8#"#5-3.BGJ6K?3^29:7=X;PL$QQM(3<C',L9<8M]UQZL=+QF\XBO*W[
M0&UE6)UH;5U/EM&.K.`Y2)R95A7#^CZUM,X$!P+B9+0Q!JL(H&NGR(K-08:[
M<PX,06,'REEMV)*\KWNA?%,7AT?[=ZT_9P19/T/8U8+-,!A%'3_R:)6!3!I.
M(F5RQ65^#K84;N4D5?JVCM1H\39N7&[-UA&15RW5U?(9\NZ;V7=`@+6'9]/V
M&[DPI8FCX,J2KF2')M@3SK5Y)HJ1$<\8#2DP0-F\@KE_K#14D3:Q;J`B)-XA
M$7K%7/1VJAEWW!".VLO9M05G'V)':$YO:(,]J&M3&P-J_P`786,&\&(B[B!,
MK7G1L;GY(<DI-Z,Q,D7/DZ>#!&&//B^2NQ9%@!-J]A/#BL.MRJ".`@M)>Q4H
M-E(Q)-IB$F&6W78O;[*L7S3=1)79!T@X9ND,YU<,WS=RQ=HH/&ZZ"=']E[@\
M/;M+61M"V1VB"XT$Z]7'!15K.!XXA8G9F2R<(7!+FNYQ>2BW[YW"V",DQN*?
M&P1KI+Y5;3CP)+(DE$'K^'KJL7'5;HZ)Q$L3=DYDU?=DI0<F!ZT[>,H,S+;4
M8B=:B0N')#[VOA*`@909&*XB1S9"7B1W3613?N"\JG)LA))&=?\`R#S@1K'M
MEX@!_8!%$B(6'5GU/G2<EG7:;&)A8F/$+B4=/'KI3/HZ)Z8QC1/33&ZSA?=)
MLV26<+));V8M?7HIVCM3KK<\3W4?`EC6L,P#+K5)U98U>0<O,S06<DKB%*!N
M*-0<JW<D[1Z8V/4DJ&G$4\%2#4PGPZ>!I`\A8):`F=4I1UFHF0KKH^$68*M3
M\'KJ)U%ZOFC1K*V9)"\*S]>K-2*3Q;$E-3;YJD\)YE7?7XT>-UGQ'NP2B,[.
M4XK]5NQU%=;NF%13U\6D(59"&%L76&#LD7RFD8UDY^3[%VWJDU24SHKA%LV3
MV^$RTN[PA"P+'SD)R1CF.,N.4H/=5.E=L=D+CB@_M"9E%DQ5D:G]^46(VF`J
M0TBRUMR%NB`KZP!E@&+3VX@#W4E*$:#R$GH@Y9O#@@K0Z,I,)DHT*:5_W(O>
MF;ZZ&=JYBE[.";0BA.+=")'(A!#'$+.((X\E'%'48]7CEE4TUMDE4W3977.S
M1^S53>QSATT4T6S>_L9=?4XA0M#IK<5]AM>%EIT):RQ-!.BN&&R:%JJ6$2"-
M,"UO*3[5R.0[N%%5IDG;:3655DX:&D292'?#L1*.48\T>#=*ZQBY'O/`]J)<
M\J.%WLUTR(S*RA!Y30`?V^3!D9>1$/,8@4@)*&.K8L@9C,RH5)RTE$#AB2S0
MY4P*$MRY>"=W&M$V$+*[$^'"?5^2PAF%&$_V`GA<I&I%M,04_#R'6TJ69R,5
M),E%FSUJOIGZA1'?;RWQLGOC573?36@>RMY^'5V1#)2+M#MA7\(&4#=+L7L=
M*-/X"`;NB0RJ6VZG(ZT(GDK'.))8>+ZS/+0:."("<Q\I%_)Z>(!LVA7P)./8
MNYE<(=9>BC**C#'L01%ICV-FX5]#'ET%<.5'MF)`P6!5R--HI4##QR"<#PB(
MX"HWXU8CC;5X[GM20LFYDE*7TU(>>'G`C6/;+Q`#^P"*)$0L.K/J?.DY+.NT
MV,3"Q,>(7$HZ>/72F?1T3TQC&B>FF-UG"^Z39LDLX622WLG8271CMG>-)6N'
M]X98*N2TJ]%-^OF]-V;7<"3NT`60O>/;E`U"F`*4NG$_)PEIWO6D^)&\4_B9
M%L@0)MPUK85<H3HW.&K#;K75$P%=)J^L8.:G545@*1P_43@N;R=@,@$4AH6/
MC7;UJ\<J2\H\;P:D/*R[ASNO,;LY9@0RB6K*99OG42NHG9&B.NG1GJ"XO*U0
MRKF]BL$PH-7+Y=**2FR%T1S^_P`&154UW3:LFFBB.TI-R.6<##8<L\S$FQP\
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M*I*+`N>)^F+9A>PZ,PF&9/8W84-;-"`;>S)*B.'*;JNZI@PR'>;""M4&9L(6
M5VTZ`GU?DL(9A1A6G;">%BH:DFLQ`S\/("%.JLY&*DV2BK5XU7TS]0HDIMY;
MXW3WQHKIOIK3][$O17O;4%@:$79$95J?K`<%<E><Z'V!`CD6,M,U;:%7&D0=
M$TLP4<0(;,@M@&Z3(X%WT,YUD8W68!C=&3'W"B5R0]QU[Z,M&@]8W8$E(S[L
M8=."K8XNZ?BYVR[7)806KJND5\(A`:+P246)B$97`QCXF$X2)9)JQTC-JNB&
M?D9:3HJO[$"*AO[Q);*LPGB`L$")_KY.%)/.NM6D7#QK3KD):J++JXQNHJJJ
MMNDU9LVJ3A](OEVS"/;.GKENW5INRJIZM]J3ZC>S@MVR,0@IMN$&0_K:7TU8
M5>0KH@(J[B+_`"5P]K]J5@Y9N2%:5;67?(T>B$_&3L+'C6))_*B$(;A,010D
MHZL-NM=43`5TEK^Q0YJ=U16`I'#]1."YO)V`R`A2&A8^-=O6KQRI+RCQO"*0
M\K+N'6Z\SNSEF!#*):LIEF^=1)ZB=D:(ZZ=&.H+B\K5#*N;V(PT"@Y<PETHI
M&;('1'/[_!T55-=DVK)IHHCM*3<CLS@8;5RSS,2;'#QIZZF:XZO]/+$["VFJ
M`=D[2+R\7N=Y8UY5'!&0\F`2Y*&=D3"^!$-/H]K7B"CJ-I7L&5&\I#ICQ7%%
M3A61<`]ISAF+0T3`1M>=N;TISL!TELHPI*RPRTQ>*M"E1B1GP>?8$,6SGH[L
M-3B[F-<.X]55--QLS>,I)KG/DC(13^/EXY1U%OV3M?'YW-[27^&]YNP-6UWV
M5EQ/+CJR>,:['&*VR@=1Y*A53PL3M*Z*CWI<LLY8'A9!-R8L.T]/N+5A(N9=
M0=8%P<PA88J;:WKU[1E>W2\/PZO.<`V\MVBCJRLKL\RLX9M1>.ZYKVOJ/3W8
MFJ[-)JY#8=2IY>4?#=5-;9):T4&JS=$$U);2\\R&8XU?0G[\GA_9W5?P]3NS
MW+N2,R(9O1P]GY"!^2\@80[69K6.#SU^.X;LTH9Y8`8S'S9RQ:L(YDDM/[Y8
MQL>SV09H;#EO]N^ME"$\>%V[<`>#ELI`)E+(;E73Q6:4'%Y)Y#MIQ2.C6+]R
MVBW<K'2,<S>NM$$'CR.D&[7=91DZU2M9^23='_MB@;^Y$W\7N/R2;H_]L4#?
MW(F_B]Q^23='_MB@;^Y$W\7N/R2;H_\`;%`W]R)OXO<?DDW1_P"V*!O[D3?Q
M>YQMXDW1_P`L_P#A%`WNS_2B;['X/<B;TX\0;IL.5Y9[29OP,8.7G;;NE--4
MEDR#.RT3/]I[7FX9]KZF#5U]5(14@T>H^><;>J7TQOC53T]-)9_DDW1_[8H&
M_N1-_%[D2^^GB#]-BGI1VO'8&_`R3FIKK]:L9%1[=,APN]?OA&2:M6J65H))
M/"BRRNB>GI[ZZ^EMCTMM=?/;6#_<`KIOL+VRU-P7ME1U75.8TR=U?9=@09#:
M.IG)Q!&)8$E18PHV5$2"N+&(=EG>9`"ND<G*O-@&(8[PLF]F-!T4:3]S*S[$
M5X*5U>;B?NOHP[M&YG=7R&X7JYNJ;HN%4I"JZ?K87;83VJ$8)UW9U\@B"4^4
M+>+9N:2VWKO6$BK95!W"LYX%4=CNLU$[=#@\I[+5^0/H/N-VQM<BS&DUEV-H
M&1%O4IVZ+&,%)VO8@K"V+<,E$2Y\QAY*T3F'CBXSE7F\G*QS;&<:IQW`I>`"
M;=/[1B>S'4MA#B?8\*N^H:4=G-VR5.G\I'0<Z+%$^T4G*D/#WJI'KBAM,NH6
MLAJ0N()BK1@XF<A8"'&H2#>RMVSN=H*2ZU=9J=&^RG79S8G7,3(PT2MEO;';
M*F)L$DCNIVXY+6M6VU.0+#.KP&-'<JS'JA-6I'`EH)'0&%+#KZ84E&>]XCGM
MMU<L"S.ZX:E?]-&,B==2>G(9#RUH-+"APXR*!LJ[4O9W,NZK1K#EP6_6S(QS
M]B5A:NDJ`3TI$E`^RDG4"E%+PPJ)N,0P-7H_8/<3KI*;%(K3H1:>2LIL<\L.
MD0FCNRD#V#"XJM[(84K#(WP62+;!&*$),=)@#R,EFU?$&A58+4!2;D$G)*SJ
M9)>_`7VJD^T'7F&%61;6)Y-,X:P+Y=.(I83ZZVK3!(`:TWM6$'4-G3<K/V/O
M-"W:$O?C=M!H;E:OF`MM`QL:V5L9:%T4[>W4$"%JEO:E8FR1'M]VI-&<X1GU
MK5$:AT80]S[;G(DR"C\.#36(?Q:,*JWES*J#VOBX8LN`49(X;,28?@V[_(56
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M]E.L%#Q/AR5T2]F`$HDP+L[V;.2V1C9NQ3-`=86?2?<$M8Q3VP#H;C3JSWL%
M(6)%"TG:)G',C2R9K1<V*(]K,3<BFC'L9:TW,0OB``9]V3ZLPM<=@QDCAZ>!
MF$A9MC5ZPL23:Q+V$N0<'K`KN:+NML5$/6:6%JA$S4]'F)4AN0AJ0Y'C8NYG
M9A=W;\Z\=CY8(FJ\["4*+EU?Z66.5[;*UO\`:RM;%JAK9PN")+6J*-Z@@HP<
M+209*1A;UM0G[64$C:)C(!RM88@B^*1>5Z]E]O>J-E6YWE%XN\*7G%+"ZK=0
MQ,;4LQ.QF(413L"9=K9*492DG7;6'-!-XDE*1:\>9""NDT"SDA$%D&RDGL&G
M%+VRZEG=!5X(]*YF[>TU(R]F=<K+M`J>N'+L@L0V%:PL&@SNK8RI&=W?0I$Y
MVTWT22D4!.SY221T7\:L(IM&N)$I7$X&<EO2B+3IIUW\A.U1!VAZ_P`8'X-H
MNQ)>-@+*[`R*B"^>ICSKQ)`:-+/*S@J?("9N4/MR.,[62,E#VZK7*:-0/!-$
M50:HMHZVI<%47MUAJF'IR_J5&[%">VO<(I3+"(YL^M#0#B3#N79Y!#&0U-#H
M4;"9V):Q*#6;.Z,L<"(!^SV>@PJW=P<X*-$926]#=CJG";M/[*M&[^IDMKOK
M8(O4DW6)I9X"Q#0*S;*!R`^?(4M&]:F`]$VQ9[484M.UK(E;-L:8([2CH4/'
M5@ZNUG+ME%F<MBDZHZ?=B8DV[&]>YJ:A>H?6[JC6L74&EAXT,`CK>:'KR)LT
MW0*08<3@3HW2L_&T@"PBQ/""2T3)K,S<DTGO**N3V4L\!.>Z)#=E3W_U(9`L
MM3QP*3[2QYNV9D+MB6<US\C82LNP'7YP!EPB5Q\@2IQR[B\JYE@0T8U3%:5S
M+Q1+F(B]"&[M:=F*P":#.1>3N+J,37=8!Q$60?%1Q:%U&X_9)@*:4S$PDIN\
M'.M=1;5"XU$@22@:W^AL%;1'75Z&543#,!8\IH0X1H>H.QG6:AY?PZ@,D[+`
M9.]`[.[H%I7+1LY8)D@.(VB(6R>1\(\/ST<CCJSY"$6-&X[(6D;1C(QLN::.
MS,G8-IJ;?HIQF`":0K]2V]!#LST[%8@BN\5)PP<TL"V9)(-&&`P7Q9S876<V
M..NMTF'4LI-8V>C:Z@JZ4;V[`58)2%@+U])CK]48E'LF[SL/K=8%9]=!"K[?
MZTU(24!7Y)5-:%8]V`[CP1#0<,3UY6D$U/*Y)`4/$MK4EPLA#5VZE?W`/;1=
ME1,0/3,N=B#B8,A>3]JS>U?5^T#GQ%!&%NNG9U[8U7=1(H2VL5[8XT+$<N.1
MMA2S[78FK9G&F@%/MMD$7`R>BV-Y"NC/<?+VL3,Z06T&]L%1QW##37K?!7#V
M)ZH'X&`15>RA_%.;,L6$MAV35_<DK9E9#-BVL-]4GTCV5!^O:.(::K^$D)NH
MV!M:3XF(K.=F4>C$NWM[XFT:9>=_X/M/-=H:!C@[)Q#6%*1T'95_R"R3G?J6
MYZ[RH$G2SVM(.G9XE;EK]8ABNUTC*1%NJULDA4;T30%T6S=I&$UMRK;NZ9]9
M8"H;[I89LH`N2\2#).1G=G5D:`#(B[&%TDP*QR<&PHY%3@5;M([24/J-L<!(
MQZSFB(NY9NH::%6:4M*X(N>H6'88MM8K[1=:HR$<TU8U#,%*R(;Q'="^#MFT
MPTOF;5UJ6;K^;KZ@;2'(<?F)@KTJR;(V78^PY*(ESN:!HX6&M(B/LK<-)U5T
MP[0L3[L-UUE#&1ZR=7>NP>/4OI82T-+"?5]*6'X@[EE2L$$E8DI.]CAZLY!8
MYE,1`+#04-",S4NPFM))W$[&6>`'/=V0O"J.Q?4R"`GM;3D&2;6"[M<M$[0D
M&@I'P,96MZ=<'8K+AQ?F2GHYELSONNRBNS,=KR-8",M$E^XO%1Y7<"L+ZJJL
MZ*M`-;WQU6*"ZS^P11V`6&#^U^RQQ&BN9DQKITB#Q/821JEE<\D7HP\`5&`-
MV*DA[4JI$U^00V'5X0B@9#R,9X]2=C.KU!N/#&K*=[+5^5O*E(.TBY>00[@T
MEF,3J6U?9!!'1NY(50#,K.5X7)*R%W%BE;%L765)QRYR5L6I$0RC9&*@B\B8
M*%[*#6>P73]`*M"?G(H0KI&X^SXZU&XXF`248F[7Z_7(/5N0W9U&RNI+0T*K
MU_C9BTPYV'(F(-%$(5`2K24G)1W185'G`MUH@!'M/U]C#OK]5NU+CO8.+L#L
MY3QZ#LWT)1>9BVPNN:C@F59$CF3):N>Y>=?S]!X$N8N.%$_HEMQ]\8@LE45J
M=KNK=JV!XC0L/W'3<FO959]2(T-0L&0LP>$YR3'V%B3#MM@JKQJP.@6<8>I0
M4%[`&]EI2O3'(\8HQDW\1J0KZ.U-D8U&1/4J*M/MAUE6UI>Q*OM@@+6QG<DG
M:L0WKB7-7C.D#W>%JB!K7N%%MQZ;C!X%M^T(\(*J6()4P/QB+/2O6*(I*^`#
M9=+,^_B?:8H[04`S$WQF2G3Y@/6-?<TNNL:=::VI'Y!-:9F:S@*>C2,:*PY2
M94[4L))C:Y\`-(RO"01BX=PHC$18(K5K2Z>G'0B.J'L%2@=8-7I3"TN6$9G9
M0(8UTWF"A13XY:H0P:;`UP@NN(G"YW0=BACN,/'#44>11$/.(9TJZEQ3AO1E
M1]@.S-M27B#5/9\)V5KP<#"%1[7\]75F-I7Z*%GRRY,^,8"!(V4G]"2JC]F#
M5'"(Q,<R?QHX/#,DJ),X'!),6!=W#2E4=5;<;'_8;KK)EJH'X>M##$#3&EA+
M0L@#]3K5@(QI8<RJ5@@DM$DIHW,I-X]!8QC,Q0+!CT1",3,PRFK(Z5]=!V!'
M_>&P;9KCNO5'7ZM3JJR,0F+2`)\_F3IW+R5>.@6*W?428!D^`,K3%9O:/G87
ML*!%P)+N`B`A`28@95V@L_7KZE[>J#KYU9F^O@_V9Z<VCLC=MD6>&LI@=MRE
MP\?$"2]FE@#H(-;`(L6D==F$>.21,1"]TP3F;GJALYH*N(47/4&.Y,U\BE.Q
M'6"A"3PZJSG>R]=%#JKZZ[J,2DCC]C2?B(QX;JAA9#PSF<*86.++`5B&\K\G
M79^6-6);9[V%>FQ8W8D9')-T89L:]$S:B^S5,D_>WK_3HH?$<S)5W5$5I8?8
M"H)QUH#6-`PSV05L40B[+K*K6Y<5!9V`4AL86A&4^3UQ$2T6M+HXTAG<ZNR5
MR4[<^E%O8;M/U_C;0J41**XCNPD=97:>K3X'1)UJ>DY*W`X'K.'2`3&1EYBM
ME%INB++Q(B+S1D/H[6CN//"\2FO%MSM%UEM]UXFP6+7%3TE)V7,];%P9H<SM
MFAD).+P%,`[M3:*/:\:-3.N"F.>1"NP=8,0D^4"C-I#3KZ%F(UD[C'5G*Q^1
MT3/])+8-_$=IN4..M$ND\E0`G!I,Y;#HPO`WJP(!,)M^+"PN3F2D[8V/7X5:
M5FS`"SES-M74.<*ZN9&'T@2:]8/9=(LO$"V[2D/:&A&H8^."DZ<,H.Q+XEWC
MCY:=:ZWI%,$1I:6K6#IJ*)QPI#E)E?M-&RS2U#P!:1E=$0I&PSC=*(BH16K6
MUT=-^A$?3_8.E`RPZN2F%I4O(C*R`4RK=*8)U%-9QHWB@HZ`KB!TOBG5R=4#
M9(0_B#UTS%'<=/P*L.[W=RIKFP^OXB6]D4$NTE)`M;7E`74)R,*`6OVCGF95
M.7W8TR93O8EY7EI0)<(T]:@-'3Y&RC@&K9AZ)'DD62:TB7A8[`!@W!VAEKNH
M^MNJU\.;!O[KLO8!GCHD#L0^C\V"Y#&PMUK*ZA"DBS#LMK\*?(S9;C$W,.1A
M"&79`PO&#`@T)#+>&<$#O-7MX@_0E.:5G-[TK7!!HS6A-IK$;-_&^(K5_N]S
M%8E-!O9WF-^'8^&?`M'.6>7?\E83RMY*<]+\DDZ/>7E],4#^_P`_YF3^?GY^
M?O\`D_Y_H>7GY>7L]WLY@W\9ONGU=L33K@J$W(*D.D4O<FDCEEK-8RTV>(U)
MLU];AS$(;_Y_\&<^AG&NVN<H[X]+SQG&,X&\C*1'>'LG+P<-DDFXGHQUODH<
M=^-FD#B?E&-P]S7<?"YFY#.(Z&Q*NT$6&9:0_D*-PXR[=_R,DKC,%&7B4]G?
MD7.2N]04G./Z_"[Q[%$IG#FMD1M3V?UYZ\A--D5DQ-!STO#*R!H:LC2X-ZMB
M;12Q)TG//@65+XIRZ9S.PT,W]L_Q&W-.CG<B:L`$%("4I8Y":]ZZCDE:+&)^
MCJ0V72C.TP)$D)IY"'@*[S(J9G79*W].94$`D8FIW*Q#)()1:T]^OUGL;PHR
MG[B8N(EPVL^L@4\QN.2RLM!:+%0Q&33QM%R/KM]G;-D]>.6*2JFWK\_!LZN-
M='&JNFMW_5:_94_NRO\`T^/5:_94_NRO_3YQLEKY9]JGNS_3E?L?U?(:]'=,
M;5G;/GG?YY?>G/L4WU]_;NXL?^+MCV>S'ECW8SYYQCSSGSD?)V;6L*?C-4RQ
MV,1MEFD3,SPD!OB)HV+"2$'=?2GI:$@E76LC)1\/KGTI)TU0419X]J^^F.1P
M\1-/7'0[N'Y9W^;?;_O44S[@J6S]??/U\>W[.//&?9G.,S*]7K[<YSOCV[9S
M_GJN,8]N<Y]F-\8QC]#'EC'*$#[-K:P)8V@0<Z&2V:K8D4#[`BATA:2S\+*D
MD,.E!TF:LG2JT-,Z-MM5]XY]HBYU2SC?*?HYQGD;^R&F,=@_#ZQY[_./M7'M
M4WSGV]*^T&,^W.V<_6]F?/SUSYYU\LYSYRYFI6''(>6(9^3;0T%!1K^9F9>2
M?_`XZ+B8MJJ^D9%^[75T1:LF+-!9TZ<K;ZI(()**J;:Z:;9QY`0:!=E"<"=U
M\4PQH%E,<C+C94,S*,S`3L6XSOA"0BI1BX69OF:V=-\)N&ZNZ>^==O1VSY9Y
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M"PKN1-BYXDBZE-QT>DF<`PD)UU&L5\7@AXHMBR]L=:*V(*%813.VGPA`FA2U
MF;<W@_76/9ETUQ7YU7\W(U$P'(,&+&-/,K("HWL%-4Z<6P&V4.HU%"FDK#/O
MC6;/8[7&>P/A\9^KQZ78VU,^65-]LX]/I5V@\\>>=LY\\?6SCW9\\Z^6<Y\[
M>=W^Z\SU9(ZQ#Q,&CB^:,!*T+7)I,F5MI`3%*MIF1KF,,I"8F:IJNV%Q'9V\
MLV"Q\O+!8#%2@T.QFB,\+6#1JS8R%\*.OJ?MBV.SM<3E?*!+2A[!"Q48E]RZ
M/(UK#&#*LAVP(XV]1"[K,1]H^4F7+*.AE9![*89,D7\GJQ</<,4:3KC37Z?'
MM?C.=_+Z7#I5G^:;XS[#/N;CWXVQGR\O?[?+.?JL^>?;R/?:?Q-!+K[<1740
MV)1UAR%?4/=MD&SW-AQ0^X86K7X<!'E?T1&06^LA.RY:<!YLV+9E9I'*N8*$
MD`M@.Q!H7&\6.(R9Z5]B9SL]2V]@E8BW""R#L:S:S)8%GN<,D,2]9FLF)J2N
M!NSA*OK0#L3S=BVFM0^R08:+H-)\FW>LWK)2/F)/RNAFNN.O3W;.=_+7L;W7
M\_\`/5-?+7'=/L#G.<^6WMSC'GGSSYYSY>7G]C'#;7BUW?3;6TQ@PZQP#>X*
M](8:6V"(DIO$J:MJZD:AN"XWB;_`U0LB9%,C$LJCP%RUQU,&G_5Z#(C!)].V
MS'-0TCC5YS]^)UN5^'O<Q2U3PBW)*G@9YNDG)-95-)"9E!23233D8URZC7^B
M:;G735]'N%V3O77#AHNJV53WVDAV)L0HJ6G"\^#(<.EYZ%5BL:K638D?5U;#
M$5)D\;%$1]8)M*95TA@FNX!])FQ(E%LWY!+QD$O!C3!U.R4>GS&Q7/B?V`6W
MIUIJ0AH'48C[?C0V-."):7M'1I!%-@HWV[$98:EY:JXD3B1F?B*,9%`F'W=/
MU'=-@"5K"DV%5_*Z0[E*>EGV&UQGMIT#_+>6QIV-S[5-]L_5=<"OS^J]+.?9
M];.,^S/MU\L^WERNR%ZDM&R-`(0=<N#>)M[L%7=,%<_L5L8%G7,4>NW$<T*%
MF#C+B7)G2LIJTC6$+#L\Z84<*OI:0C6+;TU[4]>>U-E63V3O3KO;531-8R]>
MBXY90.M&%I-/+D%>E)L;B$.K(O)P/%18CEE(X6@2R8DZ<(+)#`]T:I5N6ST2
M;CJJ4YWJ5TQGO#W:QY[^7R*ZA>Y3?&?8)W#C'MQMC/W?;[<^W/GGV\H[LEWB
M(>O5F6H$NJ8=SD*'=:&=Q@),H>Q49I95AS=LB]/0U<ZL$TI%R'0:!4;"J,\;
MD*>,MD)%X\BH&5:12ZB]_.K]SE-S!IAI8@M#!]H5/:IA3EDQ(D1R)0$KE08M
M$/-9H,G9:-@IE^-D`\00$RT1G(.,EXIP]>0K]!=6.R^=VV\.5/7/4H$\\[^P
MROG'L44Q_JBK<S[?+;'GGV^_/M\O+'NQCG6*NT=E!/=.L.NY)54,PJJX_E3`
MU]9.I2:N2"7)0VJWMISDFZ01`-JLB(O56,D@2+`I*T$+GG7L;)V'"@[ZM8F7
MF8_M>))IKCH_V*\L[Y\P5+WJ*;?Z9A[/L\]L^7N]^/;Y>>/=G/)NZZ:XTWVS
MG?RPHMMM_GJN,8QZ[?.V<8QMY8\L>><8QCR]GECRY!GJ7VALJ[+)[`5)<550
MU4'M+?0SG=X>#*34A2R.6RT,7<)%NY$N`0)D3R@W\C7#2:/JN5-J8(95^XA0
MTXDYD4+(^,^W8?3&.VW03'GOY?+7L=[U-\Y]O7`KQGVYVSG[GM]F?;CRS[>2
MOLD@G0X`,RH6$GQ\2#HU,S,&%LIZ,'G)/*1S%9TSA4YP@=M86(^'K)ZH[R,B
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M35<8\\J[>[&-\8Q[<^S&,8Q];&.4.!V76]HMR)W7!R,G+41*Y@%*'`J0M9Q$
M?,A[9'6=%IA2/=+ZQ\]$;.$-9&+<Y3=M,K)X62TSOCSBK=6F,=X>DN//?R^1
M7;WWJ;YS[1.GL9]N=LY^Y[?9GVX\L^WE]NQMB%%24\6GP9#A\Q.PGQ)KJM95
MB1]7UN,14D0Q420GUA&\KE76'"J\'WTF;$B<8T?D,O&02\&-L'4[),$^=7K'
M:A)>-%5[:9B$NJ](BR-D'$@-[+DFS+.(V?EX1F10&Y5`"1.H(FL?&-#4+5)!
M@?(51(AA5)J&CI+9RVTLGUXTQGMMW[QY[^7RUZX^Y3?&?9UP%,8]N-L9^[[?
M;GVY\\^WDJC6RZWK=P(-#\Y&0UU8!7'@H.W)2%K#+%IG+:J[Q@L/)OG2.TM/
M2&B*NS.+9X5=N-4]\II;8USY5NHGKC77.,[^Q5'WJJYQ[%M/?C.^<9_1QG&<
M9]V>0A\-I/7/1_KKYYW]@*KCV**8_P!,Q#GV^6V///M]^?;Y>6/=C')3I676
MZ]C.:@1.AE6TV0HB=.Z\3(6NQBV#'$CB(0*5Q[#K,DG`*RF<1Z<ILWPSW>9P
MWU5RI]3R*_B-)ZXZE'?EG?VF5#8]JBF?]454>?9Y[9\L^SWX]OEYX]V<\G!H
MGKY9SG.^/-13^FJXQYY5V]V,;XQCVY]F,8QCZV,<H<#LNM[1;D3NN#D9.6HB
M5S`*4.!4A:SB(^9#VR.LZ+3"D>Z7UCYZ(V<(:R,6YRF[:963PLEIG?'G@T\=
M#3&-NL&//?\`FMVY]JF^<^U&G?KYVSGR]GN\_+'M\O?GDJKMESC/=N^@8?ZU
MR/8\1L?HE0PG8<$UL:O@%DU')BX>WT*\B)3)Q-0RLDU*(J7EVF^T,KLHR2:+
M:N=T%';/?-IL=?8M06&`M]X39%.BX;/[$`M$E';ZM2Q*&<+#T(*/(-FX)K<E
MGGR&E!L<'H:;K55RK7DZPA(E*8%WV&#7*5_YF=ML@W/U9_PQ'<SFTE8M6P\3
M%\]:)-$K6AAS41B595"0*7#?*S`:QB&:K()(*I,_/73?"FV5,U>'6SV/K\3&
MP8)\.@C&0\0@XL;%QV'["=;FD5"0$*R1CXF*CFR97C1!FQ9-T6Z">//.-$\9
MVVVWSMMFI/IB.V_V@AK^N-ZX_P`:^/IB.V_V@AK^N-ZX_P`:^<;=B.V_EG_P
M!#7W9_U1O7'['X5\B?TYOGM''5Y9Z45T=,9Q!;MOW2>.'25^4#&ZM)%]VFM9
M[*0VR4B4)JK+04BX=1"[Q'79F^59[/6*RS)PW4S+'Z8CMO\`:"&OZXWKE_&O
MD3.^=]=I)/I1VOCYGHZ8#L4\Z^VHVD9Y>_J`E$8=FN)223F26CXLH5D'B;1'
M?=;9LS25<KXT]4@GLKOIR6F>P_;;&V^,=!#7RQOOC'GV,ZY:Y\L;9Q[=<EF<
MX^YG.<X]V<YSSCZ8CMO]H(:_KC>N7\:^1-O^^>T;J].B[E[T=,8UY'7_`&>Z
MB(_>_*!=[D#W?J!V-9+1J#IH4;-8U1I&O'\UNZDMD6NZ,6HRTW4>O&:.\LOI
MB.V_V@AK^N-ZX_QKX^F([;_:"&OZXWKC_&OD30&^>T:/=7LY(H='3%S+.Z`Z
M?-9"!Q?E`HK1+)F5]MU8V25DEBC$<\3FEGLDBBU9J*.F>8999YHBB^8^MECG
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ME)).)%6/BRA60>)LT=]UMFS-%5ROC3U2">RN^G+PW3/77V"KR<J>WO#C.RD`
MGI`=DY6$0[6TR*++/PTJB#09>)3@?8P^1QZ\.4#T-,M]V$NVVRYCT='&5D,J
MI*66;U!,)FP=8KKPT;?GS4+5$G<5/%W?F%-G$Z_KXD*#"NIBPVQ=>TVQMR=K
M8E,B.7K>?M-J9S-?+OD=`Y_"-HR)18]B_KX[1NKSZ+.7O1TQC7D;?UGN8>.W
MOV@7>Y`\WZ?]C62T:@Z:%.[:-4:1KM_-;NI+9%KNC%J,]-U'KQFCO7%VQUA]
MA\C>UR^&<8EFPLE.L8G?3ME3XLHO!%6D6F7AL\H'V6/*%M?&:<)"IFM<%6TT
M!F"<1%Z$HY*:Q[3"5Q1ZQ[_%R8U+QSPZ"B,);#=#[TTDFO9/KWLI-N16`:BH
M^HLV5-%6;3$6/LFL6@G'MF:6Z*.NZ^BJ^=E=K!@-\]HTNZO9R10Z.F+F6>4!
MT^:R$#B_*!16B63,K[;JQTBK)+%&(UXG-+/9)!%JS44=,\PRRSS1%%\Q];W;
MAK'>^YYV4W#X144;%;T>)!ER5R%W]:6!;M$%<3%P<OMH4PQ;&$2$JE'0D.G`
M$B,FF1"#B,9/Q&6@WZ&CG%TJ?(+LHX9<B-8>'18$1$2I/.F$Z\E^VE/'A03%
MQ2_U?$)07'!W9),;F!%*+ZHIN)<E(I62PR:1\8BY2CX]@U;V=Z57OVA94.[9
MQG1LO(6"M]=P'*CY._.O\>CEW(=O+U>2L9LUDR=-PIF&D7#R$7=83^!R"C!5
MXQV58N$%5+>+=4Q1:(3A\>%-8S5%KG+.,E(WOE#112/#6XJ1`^:U%36,OIH8
M"5-["96206:0&9V)J'9E,/<9",J[ZJ:>]WEMOL/&]';H#4.AI!7H9#5K%04;
MEC>'7UQ"C,)$S0PPC&+*$@279PE'1[%LW8,VC!MMHW031122U3TQG20-URMR
M]@@ES6UL^'/8)0%Y*1@KT8L>V=1!+U(B`"U@9!DVTG`BRQLECGP^40L3.L-F
MDPCZJ0CVJBOK?4ZXY:".J.8CK!$;1SX9EKS)\'9%'45/%O>\<-MYB6`DRM`"
M*SN,,;QG8>T3@$:FQ(R"3^RHXM-!&/>,X\>GXUE"P:$;T;TO3LZZ[/\`1]X^
MZ2&$9(QQ=V%WB(?>]Z$=J3RJG7HE06;H/FA3LQCLLFVZKY521W13W21RDAE9
M=1-'DE#.R.PE@HCK<S\.@LG$10Q&#X=T<]E.OS?$88ATCK*C$VCED:M=E7$3
M(ZZND$'&5F:V^/1<MET_/3EK:B'CFB24G+:J\,4P&2`I;+1SYTMVRJ(E;PD&
MZ)IHU="H)%%EFSL36(4\+R*9*'@16[`4$7D^]S+.855\@U70M]4EZ]G6W<7N
M'(M.DA@^EGPAU/3DH'6^*$:K0J3<3MGX(NM).2G$<^UD_6K[()L%%5$-6N^7
M6$,J(Z;W>LI6S;=4(U;-\,:;+]C"L2"F"+XW[)4%ZN3K8JDV4U-B^R3<Y;HM
M]7<Q&1\FWE6>C>>C7[)L[BI1DNBGOK[U3%%Y4H*H`U<>'2>P0^I/S!'(KR7:
MJF#,DGB0JFE9LF*"PR,[$(#4T*)V4=KO)4A*2&7FWZF4DUY#9%!NFE8+H1>_
M:"+ZN@S.$Z1&!*PP4W:KK*H7U0<2DJNXO^UEW3?5I*E"3S&6+E15BHMLEHDX
M5;;K-_3;[I*J7$U@S[6[=^POY&8;;6VH]^.\S*G;FIU('4F^1:-:_+I*N5+0
MVK9&Q,5V@F`_1(1$-#O`7E46^47Q(NNQ4MWX@-[]H)7IO?[&<Z1&`S&+A*6K
MF:7OJ@I9%AI\I1[/K56,23JOUM//&-/1;I*[^EOK]1Y>>VLQ%.P?;'.5T?I!
M319#*SE/ZOL3URTPJGZY37ZM+<LVSKC?7V;)[YV]F<Z;9VQY^=@J/A+"ZX8G
M?H-^&:<BFQ$R'HA^J][<U09+M1H0TE-`\)'G!U:!,N(UX'8G)O81KD44A047
M5FIA:!'H]64?;KVYO6]>SKOL_P!'WS_I(81DE'E_892)A][XH1XI/*J]>B5%
M=!!^T*=F,?LR;[JOE5)'=%/=)'*2&5EU$T>2^=7_`-L'C9PT<]`315LZ05;N
M$L]CNN>N%$5T]DE=,YU+==L8W3WVUSG7;&V,9\\9QGRSSP`JU^R->!PF`!?A
MWE\$'`XS`AXG"-NR?7MPWAQH9BFD)`Q2#AZ9.GBZ,=%,6C-)9VY<.5=$==W"
MZRNVZFT8*DO7LZV[B]PY%ITD,'TL^$.IZ<E`ZWQ0C5:%2;B=L_!%UI)R4XCG
MVLGZU?9!-@HJHAJUWRZPAE1'3>XUW0UA=BUAQ>Y/#..2Q079D$1&Y;]NJH$M
M'HV7JP:I>$DZ85:`XD;UZ8J#(]DNKDSTGP8IQ#1VD\/2.C9/7%_4NP7;'7X.
MACH(9H(86:I^2?8CKEMJDEA9+7&-$4RS7.==-,>6B6F=?9C&FN=<>7E#OP_K
MW[0173>@&,'TB,"6,0"5=6LVA?=!Q*+_`$^4I#GUR3&6*$GZ.OGG.GDX22W]
M+3;ZCR\MMIC?3$=M_M!#7]<;UR_C7R'/?>]^T$KU=.6DWTB,!MAL4TDKM*KW
MU0<LDDNAV`JE=JWV:110J\SE\Y328IK:I;I-U7.BSCT&^BJJ<Q]NPW;33=77
M3H,;;Z:K+8UVSV*ZYIYVUPKOC&<Z;%FVVF<X]^N=MLZY]F<Y\O//'TQ';?[0
M0U_7&]<OXU\AU;=Z]G7/<7IY(N^DA@QEF(AVP3C8':^*$=+323@3J;X6NC)-
MBG,<QUC/5(;+IOU$E%]76F6N%\IK::7LNF7NCL,#J5Q;OAR6"3!ZA$(%N(YA
MVVJ`->H$@"31AF&S+,@!K*&B-B]'BF%B9V/492R&-)"/:JJ:J82UUY5P1:G9
MRO!:(#ASH5;#B&A$ET62Y=W!J2Q"1;#EXY?KJ2QI85E%!D0.MW+M;;X9/3\D
M[T2RFVT7U:MVZ*49:*O7LZT[/]X'S#I(82<E(%_7E26A]+XH1FI`JI=>AI%!
M!=^[*=6,AL];Z)/DE([=9/1);"2^45TU$>3%^F([;_:"&OZXWKE_&OC'8;MI
MONCHIT'-M$]G#?7??'8KKFIG77*Z>-ML)ZEFNV^<8\\XTUVUSMGV8SCS\\0Y
M\/Z]^T$5TWH!C!](C`EC$`E75K-H7W0<2B_T^4I#GUR3&6*$GZ.OGG.GDX22
MW]+3;ZCR\MMIC?3$=M_M!#7]<;UR_C7R'/?>]^T$KU=.6DWTB,!MAL4TDKM*
MKWU0<LDDNAV`JE=JWV:110J\SE\Y328IK:I;I-U7.BSCT&^BJJ<Q]NPW;33=
M773H,;;Z:K+8UVSV*ZYIYVUPKOC&<Z;%FVVF<X]^N=MLZY]F<Y\O//'TQ';?
M[00U_7&]<OXU\P<>,W<780@TZX;E?4HH`]VJ]R:LM'MRTP0XD]5D*CROE)0>
M('>K7+/*:/K-'>J65<.D\H[*>@KA/-&732HWVW[=$2$K/P2T#X>]$324V*"^
M3@IAE(JSN[#[25&@K5A*9,"".V0P\AA;$9(Y(9%%M$?`7?PSU"F&YI:_8#:J
M$IZ#N3N?N-2T#=Q-04)$;7]9=KQ'<"!J+KYOU\J;L.720`V=S,7;!/)W#9$[
M3[E&:ZKC!2\E*M;FLO`"D!%1LZKQG+D$T>ZB5E6GV;;B*UX4/(US("#"R(8;
M&HJ7HB,()*LDSCK;73VV`'KVK9\=\1&EE5I'S-GQ\E+HQQ"9O/C20<8R/=-Y
MBRI_J=UNF+C1*4;7?TA62]CY-F6D:6.37(C%Z$<A/QVK=BLPDI.3T<23AF^C
M8B5;9=X2F(:&EM7L6TDIQSC;W9^YG]CD-.CG]#.V?TY7>G^%Y<?)$2Q0;,K(
M%!2.K60EP::A9Q^16<D5"K*/$)2.UQF)@W0F]>IEDVM/[>>J,A",7$?'>7G(
MJI8SR._B*?,.[A?I;[@_$F7Y,O'NS]W;]G/+>!)0;$$R?,"NM9`$BQLH4APZ
M;>%0J0HV&/ZM]5="MBP'GKI^,ME%L[-L0Y,DSF-=M?6[(82SC;D=NR/SA/#Z
M_3'VI_`K[0\EQ.O9&.A)B0B(A4@EF,5(O(R!0>LHU:;D&K-9=E$(R,DHE',%
M9)RFDR3>OU4F37=?"[I31!-3;'B@,X2DH:.SIB&.Z\)Y2,0=S82^G8(F=C3]
M3.^%8IQ/#+EY`RJB&-=<[/(IRLS4]/&$U,YUV\HPUO\`/R[7_I<.E?XZ]SN=
MWNLYM>*J\'GZD-R(/E8;L9U=P4,QD?C)M^9U\0=B*Q$3L/=N'S&0=P4'("Q!
M*NR"9A4F\HA#L7B'Q@Q8+OEN2^^M_OO_`.W(:]"OF]O?TQW=?^&EV!Y1I@%E
M9#WTKO(G8M_0,`)@#JWK;ADC<DUI":8.4):JZPK5@&N-]A/,D3SJ9?9)>Y9H
M;3#'%;0&=U&VACA7>LO$3QY=#>X6/;GRZW6_CSS[\_RDR_O_`$>>EWKL)&KN
MJUIFBYW8E<(1Z8DP7*JE'8TELA)N0'XN/N80-0F?1AX":+6LFN)(V!,+LXBK
MDIM:RI20CV0FL]0PTTYV`[3_`$Q?6`5(K9,[$KYVO6:5<;@%@E)1M9@D=7%?
MT':*!%,K]>U`GL=]+R#Q-8#=T6:93E33@]`B[T^#(MD9%+(L/LP78_SSV"\/
MCSSG.?ICK2\\Y]F<Y^DJ[0^W./+'EG]3'W,<BUXI![:E=R'7LB`[!GH6#C5[
M9EY6HQB6OP,)>Q!G%0X<O7=4"=A4J'%,=#F$JI\J-!@8/U$HDNE7B"B$$1Q4
M`2YB;Z=4PXGUO3L\:ZV-?\O64(4LZB#PVWSPD+8I\707\NUHV&-,21!32(@6
ML\8Q]0B;8>=I0WP2M21^EF79S$0]:UE7'S\>V'E[_I<.E?E_RT[G<QYV1;5S
M2/B"V[65C'%V!U0,T9\?@H&GRXY&YN,H"/ZG1]K2=XICD73+\8=Q"=WM"@'3
MM8;N1O:S.Q6@=5\3"-QQX1BI5DBZ0BYZ/=<0>1LHHL@B+#_:2M%>,M,HD3`L
MKR'L1]L3BU5/)Z81TEWZU;BSV&%I5S(N'JSLD8SSY!=)BZ9L6?D=#//Z7I]G
M'GYX[']UL^SVYSY=U.P&<ZX\_+'GMC&=<>><>_W\P+.[^[!0/7&VV$MV8N!_
M:4&Z6GQJZ!:>[2#5;'E[K"MR;,^N!5BRNO)J5T,85E,1D";MZL&0M(6O.<UK
MNFRAL-:R$M'D.:'O!*S,[X<%IS1$QEHN?EZ7$Y2<C9^*:P<Y'S$@Y#WDHQF8
M5D^DV<1*M'ZSAO(Q;22D&T>]379MWKM%#1PI*OL.V-G="7$C6Y=*`1[]#HX6
M$#*$A8DBF!V?:PLD[C9*+@YUH_B).02<(::,VT@Q=M\N%$]]FRVVFJ>V%F'N
MCN&EVOZ60.Q;81.M8%<=0IJ9"4Y:5@QF-K$CJDVW[1$UG5])UJV9FQ2B8QT3
M/-K)8V"DG7\GJ*A[E$8FY9,.N')1V%SMGMIT"SM[-LF?8O.V/L;?2X%?G_[^
M>WW!?6W#O.L$O5YJ2C4;KVOI>"LT?'(&-E=#JNRN;6@YN&GY-S'OI,>'HW*Z
M4U)/892/5=_!$64D^TBE'2*_SZXR%MYO_NE`6(:$I@)Q-FU=(U.E-04?!Q`D
M)D]*BLQ)B`OM&1[)*8CHLEVDEWLR^<2<R[E7KO62>8V20;H^52OSXN[7X%=0
M_P`5+AY'CQ2;:(0/%(B0=V!.*+,S76T7H:]AW+40K-,L&&09\0'UVV0H*&;]
M<'KIU,K;M:#A1Z7D^PLT3-H5TR:C8E/$4!ED1SOEJAE571=3.K;*BR2>44U=
M\Y3SLIHCLHKLEHIGSWU2V55RGKMC3*BGH^GF$OAR^SJ4"_AE?7\(JV^1O7MH
MDFO%(3K4<["FK-F(.&3`XJ0P5;C5:20C*=?GY,SKRI@5J,/I"TSO!L\A;A->
MP,H2"T6!0Z&M*0+DN=ZDH]#R1\27YC_8GZ_\HR/M^S_+*/<F^E^5S_7%?\+O
MR@`,G-2-R:HE];2%?(0!C)P0JZ?%(L2:G(PTU2V8&K-$:>NUA]I*;;J:)P)#
MJUGF>4<[/&VFN^F<Q;[$?.WZ"?AKV-_@XE?)56G&D\O6YS&!96\!BU\*3K<<
M,(^&B2%^-3&\<X^`3+*#G4'4-*.V"^-5FS*4;.6"RV-,.FZZ7I);6WZCS1D2
M=4^LQ%8KZ7DK`GNOE+S1S(D"&6L\_,92MAE\3O9MMLW:;-Y=U-KOG$DALU;9
M1>J+IY;HYU]7K9VE?GQ=VOP*ZA_BI</*F[C.;8C("C9NJS@C$_@/:_K!&GT0
M-C\5,K'-;%UVA(>9C,L^?,'[\>'-82<>R\[*0F&;[>/CU6;N0:PZ\CZ<O-_Y
MGKY^W/IH^>?L_P">I\A#X;/S'^NOX#*_C,0\E`B4&N]GNA!6MI!$`1#D9UO:
MV2D64C79.I)X:*A6@?H]R8HNT&&<RNT\NPU@5$\?`TW.7F<:<B]XC?S2CO\`
M#*AOX152<G#I^5S[//ZM3_"[>W]3W\M_79.:E#8F5-:VD*V7B#&;@H%K(%`L
M4[%0S'[(8B35LL*O7J,.TGM5%=D8&7V0GH["&<2+9+*B>,Q;NKY\727\"NWG
MXJ4]R8)G+ST")D4T+BKDX(HN'?OH009R\/`.B63;(;*,X5O-$"[6$BEI!;&K
M?1_*N$6#;;?UCE71/&<\[(Q(R\N-P$K/P"XI.24-&/YD8<R,;,.!Z4=LT5W\
M(O+0ZR\3)K1;K=5DH_C%UH]YNCEPS5W043VS#7KO\[?OW^&O7+^#B*<E(>$Y
MJ..0I$0K:0L%"?,8R"*G3$I%AO4&&'>JNS\U>(DKUHL0-(O;1/12!'M74\\R
MMC9FVWUTWSBOU?RN/ZXE_A=.0@\-GYC_`%U_`97\9B'DH$2@UWL]T(*UM((@
M"(<C.M[6R4BRD:[)U)/#14*T#]'N3%%V@PSF5VGEV&L"HGCX&FYR\SC3D7O$
M;^:4=_AE0W\(JI.3AT_*Y]GG]6I_A=O;^I[^6_KLG-2AL3*FM;2%;+Q!C-P4
M"UD"@6*=BH9C]D,1)JV6%7KU&':3VJBNR,#+[(3T=A#.)%LEE1/&<'7CH_EN
ML']<NW_!4[R:!W7YT:^(!;;H/[$6'03:!Z7];5YIR##=)SZ$ZBO>';A5%Q.*
MW%5]C)QZ,&BR>;MU(3>$3WTD7:LMN]U;,?@EEF78>I9*`B"EKXS%D[P$^<)5
MU%22]<=/&B3LA<PK$F;.LIO.IJ#AN%NQB5B2AK93I%&MW0Q,0Y&@5J0LM'/G
M/N3UP@PT[LYA,>+];B$G3A)%AQ_$M:MZ@RDS'%<Q+O!UD.0D/%=2WLH;3.I)
M'2PS(1X,T)',.2PTX.RZ;&:A)9BSKFP97%5U4+7:<^*W<T-59QI!*!!@VK'I
MM.L3),E@W11"*"30=ZIRTH2Z/!5A)EF^T(P?89"D1-$S_+6"AI20:>2S-AZ0
M+C`&:>+[8JA$!`"-I%R6XAT>0B(:OU8"`*U"E8H<=8419Q',!0M#RF:^!33E
MQ`C)D&D$VA'PY:.O9/G)E#ZE=0!/Y+;;FQ/?0N,&M2QFE;=-5,%PL<MG;D#F
M4WVG5/:.A6Q_B.DVP!J1NX=P<R<5+Q`FC,2L5(LFTD\];^P>=<YQX@O8_.,X
M\\?_`'6=*_+./+]*]R)?37K]>LC75H*Q_>KL%`I(]N>ZC)5JPK;J"[2=NX_M
M1;#)[,+;S'6R0<:/YQXW<3$DBV60BD'KU9O#QL7%HM6"$A9&L++B34<KB3\3
M.[F!\7PY`0"X:Z`>CZ)+/P0IO&)DLQ%0N_63$@\C()2:B4I1^BALU9JR3))9
M755PEIM'GOOU]O:+Z2]L9&3[U=@21@RZ^6JZ=P,G6O4%G'3#=`0DU5XU^Y@N
MML5,HM'J6N[==6+E(Y^GHIE1J\06UTWQ+;/6_L'G.V=?$$['XQG;;RQFK.EF
MV<8]+/EC.?I7<>>?+WY\L>>?;Y8]W'TMW83_`'07L?\`WK.E?_=>Y$GL#U^O
M5I>W1-JZ[U=@I-S)=@;/:Q\BZK;J"@Y'G*73[L@^WDHQ%AUL:,73IRS9NX5=
M&;:RK#$?*NUV[1M+-XZ29RV^EN["?[H+V/\`[UG2O_NO<?2W=A/]T%['_P!Z
MSI7_`-U[D2:_Z_7JMW9[/1R/>KL$UD&?7[IZZ=SZ5;=05)&6;/BWMRDTC7C1
MQUL5AD&L,LQ>N(]:-C&+];>:?IRSN31;Q6L=?*?"C,5(9$3)O%(MP?)8>OIZ
MUY>$F1#HI&2436(N[9,"2P)5J\ZU(J1H="/))BVDR)_AO$M%7&NJKK7T5/0Z
M]1BI;?(<SL.G/%#NBR0EW(/XQ(A$P#I+(L<24.[^"2T6YV2ZO9782<>XQZMV
MP?((/&_IHJ*-_5+([J64Z1]?;VD:(=.8_O7V!'V^M_\`<)IM'QU:]0737=VP
M[?WJP>R7K9KK;)O=74X];KS3]#5W\`;R$@Z;Q#6.B4V4:T^BMP5HD(%%@;^-
M&2?(L*,XZO"@FUBNABD3$&4Q\+S$P:SI/K5OJNM*(QTH\CG+/#E@^CH>;E&K
MM6-@Y9VRZG>RB+L2Z-]J)Y7OG?1?"8ZZV?*?%CFN^GB<*0QV0R1=X:K2(YUO
MC9/XMDVF?0R[AI9B[R@MJX8OTM_5J<N[:S*4HUV&,[@\5JUJS=6,0?)D%;&0
M=T;A%B6:V<,6V6<9A[UD1RKH@ZE8EH]D%,)1S%Y+Q#5ZZ;.)6/2<^"<33&MH
M`U*#SQ=;#%X"NCAE69S)2@ST431&;%?PL:2LP:5T3ZSJKHER@[+1T_L.ZI;R
M[>%<?&KEHBQ0<KHVXNNE;@E+AZ`R<9W]O(LC2N\;">#!2S`NG#IHS:/>FO8N
M;8D@VZA.N*4-,)2\.DJP26DDYJ(<PTTL^8((R*<9*M*Y*2R$"2VQ0,M\7RPX
M`SJ0)>6+9@S(BG1I&9"@B/:Q+Z1GY]CCK'LLT:1[$@'7TBAG79ZP8D8X^>-4
M&D_$+/.O&&H]+357#;3Q>[)3)+KS*:U4.205TDAB`VS#3<B,OM8>#F.KK"4S
MM\HX>4'V.KIHVS+3<<]B8G#U^V5;Z4]7_7Z]%N['9Z/1[U=@6S]GU^Z>NW1`
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M1*;&-:7:F9N/'3J,K2>\7BP(4\F05Y9<:,2HYT2CY-P`,(*5*'15MH[ZT(I-
MH=,8@2`FU6=JH;*C@\03R*:D3!2SQG&_M>.D=N^'[==KUGXD%MW;6TD%KZ1[
MV'"NGBXS,+1QA!L)!@[?#/7"*F6RS!VDLW=LD9"+D&KM+35?T-,;(K9"'G7N
M]F2#Z0<^(7V)CHYK\.=KKO*UZ3IH,F;?99=59T\7ZO(I:)-T--E'#E7U*6FF
MFZN^$D\9]&P$01L"(MK@%'O%KM<B*K>"AJR:TBH"O^ELY\L0$S93LF'F40]B
M^K#N-W'BI@,$+P;E5WB+6;;PLBK&*.=6JF<6]O:@KO:]HNCC)WWC[`RCV2+^
MPVC"9<5WU$;O(%1'KR3./7QK9CUL;1CG=YIHHR>Z33*42V9+[?`$XY_HG(:7
MIM5A+4:["6-P^*U:U;/+'G]!@&;&`;T;@UB><W78-<LXO1[UD3V531=2T2T=
MOM\)QS%W+Q#5Z[;N)6.3<_FNF$[;90=AE:^*1>!D35C+OH`\BX6K^FKC8;FH
MN>F1:4BWCK?JJFQ5>QA*.SL#)(,W+G=A+Q+]@[PBY;*)XLQ45`W>Y[D=QHYM
MWC[`L))@(=35'D^C7741=_-)NA.VLIH2#-WUL7AT-([=%3$=O$1\:KZETXTD
MU)175JNUOX2#)0&3)*/%GBHVN-3@=7KVV2V*FQ/HI%OAFL8YTJQ?'\^@\ZTH
M[PXBU=H+MU9Z0PWCL*H+Z:N-LH*^AV:J"S6[@V(L>I_$ZNZQ0.6>.FS(A%Z^
MZ3O8]PYAY16+F8W=9/J[LLPE(J2:NHZ3CWK=%_&/D%6SUHDLGLGR//02@+RE
M>K0,]BN\W8`9:[%5W)9BHRN.H;YDFNW[`VLW7<HK3W6Z4D]=GZB6SYRDL_<)
M)O'+C5EJU8_!6+6]2[*2:CL\6./%ALU$7%[!3J@BG]QCHEB'A[-6FXH;2`7S
M_'6K+5(O4(9V'A-1_"FTIF6DFL?\&^%J>JQ9;Q!:`O**Z:=@)"4[S]@"=DW"
M4]E823K?J&QCGWD3#^N4G;B`ZW1,OJEC'I9\F,FQ6PKJGME?*>NZ*LR<]<.P
M&VZNR7B!=D$DMEW&4T]JOZ6*;::974]#793/5S3UFV,>6-M_0T]+;SSC37&<
M:XI`3JZS#Q4J1"O$RNXK5!BM\"&.@^!='9?(R9QD=$RTB+3>S'K*OK'SS"-G
M89X]BW&VCQHC)-,N$D]E<:\C+>]`W>T[1='&+SO'V!E'TB7]ATV$RXKKJ(W>
M0"B'7DF<97C6S'K8VC'.[O1-1D^TFF4HELR7V^`)QS_1.0TDX>579]7AY!8%
MB^)=>04$BD<K+$922U[TBB86'CD=M--W+U\[ZQ)(IZ[*JI-T$\;;+.G2R#1J
MFLZ7114^%=UI9-MA8_8U9>)E>1R"E3/:0'BH:KSI)*0TJV3<KLG&S9VWZP;:
M>N:/FKN/?M%?5NX^1:.X]\@W>M7""<:JBH&[W/<CN-'-N\?8%A),!#J:H\GT
M:ZZB+OYI-T)VUE-"09N^MB\.AI';HJ8CMXB/C5?4NG&DFI**ZM5VLFSBK;-K
M,?V*["\3&\`H:TEAR`VG28`Z00T7B;,"*+$12(P\?=8T4=I,D*9N''81CIML
MZE)F48QS-)9TZ12WJW'7'L!KLELIX@79!5+5PAE1/6K^EB>V^FJZ>-]-5,=7
M-_5[9QC.,;^AOZ&WEG.F^,>CF&_A]4!><MTTZ_OXKO-V`&&3@(5W2A(NM^H;
MZ/8X^4I#CU31Q/\`6Z6E]DO+&-L_#I-\MZS*FV%\)[:(I3)^EN["?[H+V/\`
M[UG2O_NO<AMW[H"\HKJV<O)7O+V`)FNI52*6(J3KCJ&Q9*+N.P-4MT'*RT#U
MNBY/;9@HKJ^;)(OVZ2CQNWU>8=,?A3%U,G/7#L#G939/Q`^R":>RRV4]-JNZ
M6;YTURMOZ&NRF>KFGI[8QG&,[>CIZ6WMQKKY^CBSU4,92]')HTISQ6K6LMS7
M4[\FC=$-#>C<[N-36V7>J322PQZR*^@DZ4CY%)B_3]9&R"T;)HL'CE6.?:-[
M+V[0-WMNY'3F.<]X^P+^2?B';)1G/K5UU$0?PJ;43J7*B$>S:=;$(=?21W63
MQ([R\?)*^I:M](Q2+5V=+NI7$M)W&&CTV6%GB07T-#`U%/YP@()RNND47#0D
M-%ME'DC*2DD]ZQH,V+!BT15<.G;E9-!!%/913?77&<\^L#1EUE$)#DHYXC/8
M*;'R&*CIR#F8VL^E#J/EH>79H2,7),'*75_9-PS?L7+=VU73SG19!9-33.==
ML9Y$RB*!N]WVB[QL6?>/L#%OHXOZ\)OYEO7741P\GU%^O(RXPO)-GW6QS&-M
MVFBB;)CI"LHM+5DAK\/3D7^ZDAO)DMK"RP-86;FGB9W<*KG!5&`P<A/`71Z,
M7*#*:U7WB1B`1=]9$E96<D-&KE1M&L=%W2B3==;U>$D5-]:OUZX]@,;([J>(
M%V051PNWVWTUJ_I8GE1/UR>=M=5<=7-_0VVU\\:[^AOC7.<;9TWQCT<PW\/J
M@+SENFG7]_%=YNP`PR<!"NZ4)%UOU#?1[''RE(<>J:.)_K=+2^R7EC&V?ATF
M^6]9E3;"^$]M$4ID_2W=A/\`=!>Q_P#>LZ5_]U[D-N_=`7E%=6SEY*]Y>P!,
MUU*J12Q%2=<=0V+)1=QV!JEN@Y66@>MT7)[;,%%=7S9)%^W24>-V^KS#IC\*
M8NIDYZX=@=ME-D_$#[()IY66RGIM5W2Q3.FF5=_1UV4SU<T]/;&/+&=_1T]+
M/GG&NOGZ.+/5"QE+^;$[RE/%:M6T6H9/;C)2X"0WHU/)0DWJAATFT>[,>LBN
M-4WC3;#N,?I^LCI=IZ3J+=O&^FZFN)+QH:6MT=UZW:S_`&\NH^5=KW+ENH1@
MO6.,UB]$$*C]9JR3#:'&/6;/-EM<NMY'=_C&&K75GHSS\+V>9AR<J'X'N_V+
MCI0GKH?EY_HKUW9#B%F23!J+2<EFX>Y#5%&:CW,C&NI<?T=O629`S8+Z+JQS
MA1OJLBLY0VSC@CNH5A*P,K(R_8GI`A;-D4U9_6>[314_FRJ&)JJM\/K*`>EP
M$+?!0J#J^4J%:M\0]0T8)14?4VH61R#.=F="G64*"'U9;IA*:KQ+N"[3=8]7
MO7^>L)WU2G4+0(08]S'V[V%6NDSF+6.P^8SF'-XH8<O:P:/(`9-Q4Y83IF0%
M@LS>DS%H,7'E.K[ZO^OE*TQ2/=&M2E0&A@D3.?HN7''#*&HR.5H9"):M0IL&
MQ9795'E=K397L@?&[>=)S]Q7RDX.#QJ.$,XN6I>C4G5L2#+,9*$5W=2VU$"[
MRY30,`Q:?C'Q`@3WW3@35)-6<\O-NFL%)5'7J<$1;!DCLW4)"4><`D&10\4J
M$NY`F[XM2,B.F?4^*E[MZ@F=(=?*?ZL!DS!?1-?@A9/6=U\:R".+0G<CC5]K
M;+04=*,9BBJ_.BF'!P`E7(#"2@9HK>P<P-Y8_HWTSC7R^BS6?LU\OS_B.?=C
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M`7EC:3DNT4>=-RTD4GHJ$+SZFL1->L=T,(ZB@3D4@Q64R.)[XRYTR929@0>O
MVSZ9!NAZ*.L>.Q5QU*YO[H(X;V?7:Z#'L3:;AZLB<"ZJ3-#;IEV::Z+.E4Y;
M9-NENY=-FVBJVVFF5UT4?2QNLGKO+":N"H9:'EHMK>`,/N9*-?L&\["G]?YF
M(5=XU5;(RT5B8<R\3\91JBNKUA\:14G'?"D$OAL>]:^M;*^0$6;5(B)P(U*]
MBQRPI&&CD6+PU-CZJL%9(NEG?.TI/8#6@>+XD5_2QA;XC&(1AY::>J8)9]+.
MT9J[N.I4N\_:E\I9]=Z,G/7;IBW;.]S@7T;.%VQAW&5<HH.-I;"*JK9-VUW7
M234VW2T<M]]]<:+)[;4=V0"`.P+&,+@JPYZ:O3N<Z<7UUTU8W1+#,N*&1189
M74A%7B5JM8A&3>EU5#>@,4-YX=>;O5MT2'9C%QNS>4EED[E]17XE4%>D;&T+
M/IE:T3BQ)H^L,NB.QD;:SJQ2>6B1J$W-9V:E0"E(^#DW,8.QD$Q!@ZNH4+#!
MF`'H(<PNW;J;8I_HY;E/I=>9%A*697*/PKL'W2W5:O#@6;[*L9'N3?RR.^4U
MI;3?9!ZQ<:+H*:XRFNW7362WVTWUWYC2!NFEB5N0CMF0W9CJN9E55Q<'3M15
M-9?8*4(JGB:"'*J['U;!):EVE<)&0U.#S*_TMQL1?#EER:`H,3H86WD;R)YN
M<B\W.R$Q4U3>%1;-(-+HKHN?5CT?F*N0EFA8+(.B5P$TZD(:22,2C//UD%IA
M6,P[38:+NMT=G&K759QOKC=3T>Y\$K?9?7#(+.^H\Y4:(P<BMW0IC>R-4V:=
MCY&2U]+-:VC;+%:PMF?C*8G,B2TS;`*/.P*9LJ8@@.'?&,<,1TXQEK9W%0L&
M[<W$6T%=G7,$/"?MV*]GZQ>Q5RQ53JC#Y7JZ.==+/>R,[`!-E1."HV3P;/9O
MXSK<YCB:#(7'INQ4[<Q)V'5,AO4U#MO"4I%"[P$TTHXNDZYD2Y8P&DLS/R*Z
M$=AA-0CD$<S\CO')3,@BDKHF]D7JJ*KYNT<2#UUOAPXM);M`JW18?9!^?S_1
M4GKPV:V"E24$AV+,JTC8W8N@ZV83$I:XG4@*(%<W;-I?(9<<,[W2O@DEJ^"]
M!R&K^OWL<@7PYGTT:!/I)>BXHD[%=7UH$$O$#NJ4)U.S-H%5D`<17O8$LN&!
MHE26*,JMNWU6P0K.-0VLG-]J@DC39DZF[7$XM]*,PX?&IH5]<%2:]X^U;M2S
MZZ39.^N?3-HV=*'`OAJNN@7]QU'*"+G>5PDLJV3>-=G">F^RB>CE#??7&BZ>
MVT$+GZ9Q!!6\Z&4GV"ZW5E+$%L=T,MY@>M]M7[,/HCN4EKH5#;&"AA8N'B-P
MS?Q@R0SX3I!!C^:EX%CL&WC63KXSE9F0?5BHV-'W`/R91?/6N3JVH87M./U1
M,CUCLUK8L)MVLNVNKEE75Q,7K2,'(20KY4#^33=49GRW4_5>L29YH&JQ/Q$^
M_=2K4O=W0.[Z1F[!I9;>T#SQ!11FS.281?0"3XK[4=CVXQ,2L:[=/=EF+&0?
M14\V<HL72NFB#>0CM5%]&^V8[WSU;F[R>E07,VSTK;U8XJ`(&@2>C+AP.%3&
MYA.CY2OLW!<X/'5H]W[!.V<D_P!@(+@)Z[!(2#JA?S,@D)R5@K1[UA6]X*QP
M+T6[U3=EV=U\VLJ^#68N2<#ZBLAJ4AX@H^C*9KJ/'H,CGV(@0%JRT77#(BG)
MYZ%"^SH@GY-NA$:MVB#M[/OL_O75_P!/$=2PO9NO*SW(9@?Q/R6)4!+V$^+P
MY2QEBFO2<;E"F&^,A"PXA@Y#C)BVEXA\\&I:5CTGR.CQ?13&[U\ZKSE-%?5.
M7?\`9WK1M-4]5M!U[:MQU_=MB`I&;"-&1-GPK:D5>O2)?(=?C:O9://&K.)L
M"<0$"T7T2D9C(?.%#46FQ^9E_P!NU4Y[6=#';>S:_<M6)CV+V>NT30850;:_
M2Y%&F%'*R4KNDWUWWWTUURKOICT]]=?/SVU\Z5[E0ZE[FE8HA1WU(G:B:C9D
M-7="&%[M:JLX]'2`FKN9;5K%V8+U=;TW&TS._)%>8M<%@%P>5LN8@P*'D2YB
M*QT['3'4ZD5Y"]?K<MXHD;OH87K`M7+UH>MZ_P"Q=B6`.&!877*<6G(W-,"E
MTEDQ'TB8/69>O!3`)5TV3C$N\?2,BZ(LQ4.%C@[6]-V]5+?NOW2?KV97R+)V
M&=1=&KM4U&4FKG=,2M_=31!PI*ZH+;)Z[Z94U34VSKC?7.<>CMC.:%[+UN+'
MMC6M<-.6!TK7/3KJ414(U9W;*#4T*D)FXL<6+1"9LYC&,IO8L#A*)BI;1A%R
M:$QE&469L](G>)=2.<WSZF/0&G*S?0!O8E-H6$4V`5G1S.Q'8F-MM\>%97)-
M5GQL0%DN"TRGB?FTVS5%4:&ZW&P\1CF$6,B$>C!1C)%*A?#TN"J([J<"M7]G
M5ZP<[%M[*X1>&PNU6PFMV'MM1%7U2\LFIZ"FFVJB:F-<Z[Z;:[:;9QG&>6?(
MNMU+R5,=@*JB;-ZMQJ=C]NXOLS6B.D\(MX$"V9&E/%B[A%FU2\H4T54!"U36
M4'FNV=I`DU<;R>-WTHMI>'Q%K@J>1Z3=AV<?9U>/G2@1IE-LS-A=TX4SL4C^
M<8T1;RRBNV?JL>[7/V/?G&,S7^C93FGK$][7K33?19?3;7<]$M=M=]5E,9QM
MKM,8VUVUVQ[<;8QMKG'MQC..1OZ]M:2HR=[(NHVSJ'BQ^Y^P<C<X_"")8&Q#
M:':S%24^$S"4LQ;NH]CK/2Q:`$9)).6.KE-_B;0?NWBTJYD,)VX[`6]5+KM=
MT->-K,KY=HR,^QN[QRB:C*S=KIGKF4::[N5TI7=)#7;??33797?3&=]M=?/&
M=M?.Z7:LVC;)HHQ#Z3M3JWFT)%Z%O!%[=16(S('!OH$[&2)<GV8;19XV^6`J
MRB7)'6;^2#B:'A;*C!*<F8.5C(UTQ<=CK#/573=,CH/.GU/09(E+FY(5:Q78
M9I;OQT5G!P1&I*72UCE@]6DV4DAE-3[TG)72H(+QS*;E7L3`1#0?CXM+6TM-
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M\G^(Q>(;<%3R75`[;1]FUZ^<8+J*6]0S-A=TMZI'L/4JBJGJF\LIOZ"2>NRB
MF^=<::::[;;;8QCSY-7>[:>3U5T^BM67KM-U]?5JV`)I8]9HIOY:;YS+;[I_
M5XQC;/JMM]/;GT,[8]'./[HS!ZTI@V(+].^I#>Q20=``]G,T;>#1W7\4"`3T
MX>BE5UW4TC6E4P%*U;77RRD=1.#C)&Q"@F?S<[.GIK)R>D=MK5=R6]5+CNOT
MM?H697RS)H&=NM'3M(U&56K;=02J#=/1=PG*[(([*:Z;Y3U44USMC3;.,>CK
MG.)&W,4T+;U36/5\S8M)S,<>A1**KQI46A$P.N%)F'>,F>TO&NW[Y!VS:OE6
MSS?3=HXVUV;ZJI);+)IXY\*--*LJVEZCK2:N:II.8KVL*_!Y61CK`&=H]_)"
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M)6"4Y(Q=9@0^F;2:C&6EI@T-IXF=N)%W`KQOK/K>:QUE4AS\)E=$%KKT7VC2
BT>?ZH[;HT]G3579K)+:IYWQKMG37?.,[8UVSC'ECSY__V3\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>20
<FILENAME>g585827.jpg
<DESCRIPTION>G585827.JPG
<TEXT>
begin 644 g585827.jpg
M_]C_X``02D9)1@`!`0$!A0&%``#__@`^1$E32S$P.#I;,3-:1$DQ+C$S6D1)
M,38W,#$N3U544%5473(V.#8W7S%?1TQ/0E]%6$-?2U]"05(N15!3_]L`0P`!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!_\``"P@`S@$S`0$1`/_$`!\``0`!!0`#`0$`
M```````````(`@<)"@L!!08$`__$`%$0```%!``!`1$.!`0#"0`````$!08'
M`0(#"`D1"A,4%1HA,CA15UAR>)>VM]<2&#$Y05F1DY:8L]+6V!87&3<C=H&R
M(BAQ)B<V5F%GH;'P_]H`"`$!```_`-_@````````````````1QVX@[7C9'7*
M5H8VO2DE:UX=S?P&95(+KS6H]1;6TTEA,>G3%7>K?<#556TF(RDW2"N>5,+@
M2L&(N1OL/F*D+S.+)HU["Z`<+Z?HFFIY<.W2%E0SHSKRSY#>6P/%1E]9G=[4
M<2<PB)M7<3'T*BZ0Y3H6G)XJ!HC>U2,L/@E2*DA1,FD]O%%E6HWCJCLP\SOZ
M19M%^%G`K+7DDRBR-,^([LK**:>OK<H);FEXFDGVZW5*V_%ANP*K0C)-8346
M\%N(OCJOI"N8H6P7F+\=N<$``````````````````````!"?=;B`:XZ&LA'<
MLTN-447B^%&C<AZ#8X1\[[GF=7IFNLPD&;$48)%]5QTJIL[G*$3"G?:0:Z%G
M.D[G&O).(S@NRXWFWI-M3Q0%Y)EOBL%ZQ'JZ05B#GB+A:,!V93:$H4(Y\:@@
M.G>V14&XC=,;NP&<1-3+PF@9BL7-4V2)6+5BJHY'`D&,@6[>B+8W%UX8NJV%
MT%8E@I,EB"W')K!:S-3LR))$)0T[DUXF-?2A`DH(!%DM=VGF^V2)A12RIXND
MHR3E2\#?-%3U]F*>F+'9AQV8L5EN/'CMI9999;2RRRRVG);999;2EMEEEM*6
MV66TI2VVE+:4Y*4%8```````````````````+:OR88OC!09Z5(+\:[.4'\X$
MMK,\JXE<JEY%]?6UM%;".F)]3-UMF0RK.=R-ML)E,E^+&H.9QMYNE,F9:7DD
MB<MQ$^S\:25E9;;/.)L-64GP@.AS(\7&W*4,N<XB-%<O2%H\F%LV!.,*MB:6
MSHJLK82A6XTDIZ^E'#I?&0.DSIF2(\774MIRUKR4_P!:UK7Y*4I3EK6M?DI2
ME:U^2@PM;$<360)/E5T::<*Q@-W9W9YO&K427IR<AL[CTRTWR&+J8LQR;9&0
MZWW/Z1RE*Y+DJ"(R,*CM-F"JCT_,I-R(H(QF\NE7#%86M3W5]F9N?SCV]WT?
MB90C(VW4N$R7\1DD_-CS6YF%!K,+<];4!Q(3M,F2I!E,3$6,'262F%PK"K@Q
ME"9+*#2E*4Y*4Y*4ZU*4^"E.X`^;>3K2&(T70]G!4_1":#=6G0LU2DI275.B
M4@)IE64:IR(C%3JNL'J$RF:I5+2R9M0/9J6%B9;-GR68[H[F=Q(HN8FOS\;R
M?(CX+;,M5OON*FTQ6"MN=ZJ#%7F^VG+D>:PUR%.CD%KMU/>34L=BRH76%&\>
M<*21.WT,',5M;ERA.;`B!PPPV'H86BRK/4HXH?CRB:W%A63S3VS,UX/S&37%
M<D5R)3:*96XQ7$8+'ELX4QGC17&GI]IL[FMPTO!2M+J4NI\%:4K3_I6G*/(`
M```````````````\5K2VG+6O)3_]W!8=HSVUI!E"5X@0TYVHZQ%^1+2#3K<*
M*40VXZ'&?2L:NN)L<XU@_A7WQCC\BIMG*\G,G-NY@E%-S)S;3W2L.!.=22WL
M'T1,>0G;M[D@7;UL,N7E)IO]+:9YU1]M9-"HZL!A2@@G(Z])#JUGE9CI_0VM
MNP-[88/\5I#,DEU1DP]CHR;:HSTG,YVI>]DO*O"^DS#8KQ94S.PME/3,VDPT
M6/&TEQ*^9DGUHO\`S,0&Z]:MDZ7*I]'VD1Q*;KC^]UEB2>IJ;45<3>7KUM/:
MS+N;]^=@MBX/U5BEU3?L/)S1B.*V84Z+<#R>2G8G)I>^^EW0::2Q6VYE!;7U
M;+;T(A-I")J3A7U"_$GHJ8>.Y<>"["KC,[Q\97)7H.Z6.'5POE.MU*GJ5N96
M]6[K6S5_PZD*5M-&M5=?G67K[JXSEMNE]\M^E,>.Q.;KIR52LT^O6N$&:HQ0
MUH/UUC!IQ'%;-+5+H+.9Z=T"GX<F2VRAM34#&7(84UYP*F2RAE;<R^>4W$NG
M+KSJPJ'362_+6]H`/@I4059T1G(3:0,13.N.%CNU#1L*@;N($,JJL-]13$^P
M\>QECN0D2J;-8NBS>(D=RER],F7$3-9+;<%^*5Q:(/\`>>M6C&O3LB6&KI)U
MQAR!6ZE;<);RRYY*UNE2$C$4E%IP0E7)'R,]#J.]D-DK'.LR2\F;C<5N4JSI
M&:][5550Q@E//T0SE-R_J.X*-N/F]?`F[AF9G23K(2NJ548>;3*G>+FNI(IB
MK`3Z9W^Y$:26R[%1EFL1-#;>;`MMS"^UV\D1552=UM/<VVV_#[FE*<O=Y*<G
M+_KW/D[M14```````````````#XI:DF/&X[6JPG`^V:A/E]=,:LEFK+H0DMU
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MFAUFJ96W`<.D<ALGG5Y#?^8K2]/RY33>2%S$6.YB=AM?>&+(,O2JUMRN*\^F
MULWL@W3-%V'-?&Z4-TTPTY,&+;,EF"(H]6ZYKI(DTKR6=-9ODS$K+N8\5(9F
MT13+T9+6;[<<T>[W;)\.SA](L]ZJ/%*8TF'=BXQC\PM+#/:[X*Y&LXV[(:FL
M$ND[O3%9+IF-&6ZF74/4*]&X+,-^/!GQ4SY+JZ'_`%5[QKO"+C_[N4'?HT.J
MO>-=X1<?_=R@[]&AU5[QKO"+C_[N4'?HT.JO>-=X1<?_`'<H._1H=5>\:[PB
MX_\`NY0=^C0ZJ]XUWA%Q_P#=R@[]&AU5[QKO"+C_`.[E!WZ-#JKWC7>$7'_W
M<H._1H=5>\:[PBX_^[E!WZ-#JKWC7>$7'_W<H._1H=5>\:[PBX_^[E!WZ-#J
MKOC77TOMIL:P+:UQY/<W4US@WEMNICNK;=3W3+OMY:74I6GNK+K>MU[;J<M*
M]2[4&0G1+>IVL,JO@[A4GI)FO$*2"[E$N2*)I<^Z'I&;8<C@.X$XABPD2&$T
MK*9S/B)$\.(J5LR6X"^/'AQV64D4```````````INNMLMNOONMLLLMK====6
MEMMMMM.6MUU:\E*4I2G+6M:\E*",4RRVXB<GQYKI&Z\TFG*,LQS,4CI#M>R.
M=<Z2VFM$AB.VZM*1!D$EYI&WRN6N>6V52Q"QNE#)DD?&LJRH<OH7(IBG@*DU
MBO2=MH4YP19D7LZMCW%BA(G$O*6O;REMSZV[XZKMPI(,*3&0C['+J/*<;:);
M91G@MSG+421$A%9=I&-E]-.):')4S%#6PY#*%/5I8HYY[=[4_BXTV"R`KQU%
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MT*XT8QM]"3+,V;GLV!JB<V/?%*MOROX5]#9@'+"```````5X^RKXF3\.X=S7
MA[=H1I%Y(>M/J59`F```````````/X&3&,H7SFLU;J8B^'+GRUMLOR74QX<=
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MR.)Z.(\?.)Y'+E+82Z"B9%`H9<JTC$LMIBN,I%TMVNXIZXE2EQ2,!V#-2":H
M2<L5<+M@.W-?_%6(IFP'V\Z-\I*;F8CED=?QY\6!6P0*U<Y)@M4Z73<+A-*"
ML67TQ0SR-EKMME-]&:;/0$5JM9N)A)$;S;;B400D!!1DW!853DA%1DHN434I
M+(%L>,N23T\J7)E<-EN+!AQV4I0>]`:HG-CWQ2K;\K^%?0V8!RP@``````%>
M/LJ^)D_#N'<UX>W:$:1>2'K3ZE60)@``````````#Q6G+3D_^O\`TZ]/_G_3
MNTK005A[A_Q3!2AG2HZ?LU)<(XI`49.;FKQE\IQ^`V*[U1<J[#%S)2,[7_F"
MAL[`\\AAXI,4?S',Q&WW"9O,H+%3BF$F1*SGLLQX,=F.RVW'BQVVV8[+:<EM
MMMM.2RRRRVG6I2E*6V66TY*4I2VVG)2E!A@V1XGSU?$MN?2WA<1PA[6;9H&6
MU*E64%H\<+:>:=7&K\Q:JKL')R+SRCF>Y++BS9$Z"([-G'RL9""H643*,:3,
MR6;N[I;PQV;KP^U+:+8&0E[;_?E\)5"#]VKE$@4Q'&XFY[,],T>:\L+#7.W8
M!B4E:;-%2C79MF)552^?-<Y%M1Q9<:>3RC4I2E*4I2E*4IR4I3K4I2GP4I3Y
M*4``&J)S8]\4JV_*_A7T-F`<L(``````!7C[*OB9/P[AW->'MVA&D7DAZT^I
M5D"8```````````"T$[3[#&LD7.N:9^DIHQ-%K)(U/N5ZO56P)",GX[J\[*E
M,=^3W9E26%,Q6PBB("26/KJZI9BZ:C)I\^8PE[\)>18W?XRUUN%H&I8X=?#"
M5+:VFGEDP7LS>7=QJF?<767,DH8Q9C>JT".@I===:XU+&9E=]H-V&I,@GMYR
M&RZ;F<UNUD@;42)&Q!>M\7M6)(L:.&ZQ':;3(U+%KC>>EG1RTL'S&0RK.-RJ
MV2RAA;=#A/JC@6C5:F5-2-9:^ZI?<``!JB<V/?%*MOROX5]#9@'+"```````
M5X^RKXF3\.X=S7A[=H1I%Y(>M/J59`F``````````!6M*4K6M>2E.O6M?@I3
MNU&,K=KB<1GJLZD#7R,60ZML=Y9'(7&HGTYAC*5-2`J%,F/_``WO*;@SVYF_
M!L0)UU^(RO20_;RV#"ET-GT)(7\9`_4I8"!N&=)LY2DUMPN+0]6ML9.S94+'
M+!^KS7+G<FF>G!K-;2\M<P&4LW9;9?F`G;=;16F^1RJB=QGL!6UHIQ+&B(RW
M7-G;;2VG)2G)\M?EK6O=K6O+6M:_+6M:UK\M1Y```!JB<V/?%*MOROX5]#9@
M'+"```````5X^RKXF3\.X=S7A[=H1I%Y(>M/J59`F``````````]:L+"2WTI
M275U2((R*C$#BJKJZJ<+)R8EI:>7R&CZDI*!S+@)D$\B5Q9#)PZ;S82I4OCO
MS9\N/'9==3!`[MZ]G>)2XER%.$G>28T")JL;:\O\55_-NJS&:)F(F*%%YK:6
M1\K6%K-B)(*WT,%<DC*G0</-3.4S5L/+!E00%>F0W27A[Z\:)-1?(16E+KJD
MZ0SMB]-VQ4JK6=^;!3T[JW7YC#GE62U6VY76\M364P836^3JG-1`J8ST140I
ME,&S!F<@````#5$YL>^*5;?E?PKZ&S`.6$```````KQ]E7Q,GX=P[FO#V[0C
M2+R0]:?4JR!,`````````0WW/WRUMT,CLD_I^>1@D?<ZC1N1?%S.2C+TF6:G
MMGNPX$YAP_&:/6]PO=SJ)XT1(^Y)X<"*CY#Q8TY5E$3KZG+<8:+J!MUQ65A.
MDKB:DU77+3(NHE5V-.&&Q78:M7Y'+%#.,\WG1OO)3<SIYAS'*9,>!6Q:Z,XT
M79:$<QI%KN/FEI+6$]4SQM-I-9B-M#9S);:"T&DV$HDA-MKM='3F^W&\B)N"
MPLG(Z&AI)8FEI"40+8\>`DG)Y4N3*X;+<>##9;2E!]"`````#5$YL>^*5;?E
M?PKZ&S`.6$```````KQ]E7Q,GX=P[FO#V[0C2+R0]:?4JR!,````````%B-F
M#6QQ.$'YDU)1HE7-A<J>3*1L5G-<<[?BHJJ'E4B3.K+O-LU&6W(<(H"1G4%O
M"AI98KF<1P@70[E9'QG[U$O"33#A@-2!I$/;7;+2,M[D;^/!,H2=NSTFIQ0N
M78J88PY;,\>:U1OAKF;$!1B3L-'2F),:)?"XEW`;.WN)<,ESM4HME1I2E*4I
M2E*4IUJ4I3DI2G<I2GP#R``````-43FQ[XI5M^5_"OH;,`Y80``````"O'V5
M?$R?AW#N:\/;M"-(O)#UI]2K($P````````````````!JB<V/?%*MOROX5]#
M9@'+"```````5X^RKXF3\.X=S7A[=H1I%Y(>M/J59`F`````````````````
M-43FQ[XI5M^5_"OH;,`Y80``````"O'V5?$R?AW#N:\/;M"-(O)#UI]2K($P
M````````````````!JB<V/?%*MOROX5]#9@'+"```````5X^RKXF3\.X=S7A
M[=H1I%Y(>M/J59`F`````````````````-43FQ[XI5M^5_"OH;,`Y80`````
M`"O'V5?$R?AW#N:\/;M"-(O)#UI]2K($P```````'B[W7N:^YK2EW)7W-:TY
M:<OR<M.6G+3E^&E*VUK3EY+J5Z],>^J4B2QGV3W*A&49!D-X8(W4(:>,>$I/
MB]HLA6PM.2T1WE%IQQRZ8^3R#6>T&*CV9:ZA1^GK^(Y+C(66F]$Z1E=63%5E
M'\OYM6)?G)=V2V2B38XN^6>]F^62)'C5B6J$0N^#ST$.Q]O]K,-W1B^65'S2
MD^QW8[&;TFEUCS,H*BBWW-D+*S+-*#07D\P5R)```````-43FQ[XI5M^5_"O
MH;,`Y80``````"O'V5?$R?AW#N:\/;M"-(O)#UI]2K($P````6PE*;89@U)3
M5^:I;C&($)84^DJ0M2B_FG'Z2J+'09A0Z4IRD[5=')GE/H`F;.]`%<V4UT(5
M,&>=<YP9;[;'?U"="/#=U#^\M"WZW#^H3H1X;NH?WEH6_6X?U"="/#=U#^\M
M"WZW#^H3H1X;NH?WEH6_6XINX@^@U]MUEV[FH=;;J5MNI79:%N2MMU*TK2O_
M`&W^"M*UH([M:7.$JSF\0;*+MGJW<03G)'3J+GEO=E"=3FO4XD7,;DC8H=>C
MIFA9>*FVV8L8[S"$S5->.-`G@-'T^J%D3E)0*&OJ8GV/X6T)853%'6WNJ";F
M6,1,H?4ES<!C/E=R)28>6E-';N%Q/R5W,O$VF@'W&X#+::)-2+MAMY%M5Z1)
M*?:?,TRWA_J$Z$>&[J']Y:%OUN']0G0CPW=0_O+0M^MP_J$Z$>&[J']Y:%OU
MN']0G0CPW=0_O+0M^MQXKQ"M![:5NKN]J%2VVE;KJUV6A6E+;;:5K==6M7OR
M4I2E*UK6O6I2E:UZPEV6,ESA?`;*9\)HJ:PXC!8R6RX\Y<P7SX[<N'/@S8KK
M\67#FQ7V9,67'==9DQW6WV776W4K7^P``#5$YL>^*5;?E?PKZ&S`.6$`````
M``KQ]E7Q,GX=P[FO#V[0C2+R0]:?4JR!,````&F#S;%7DT*U4K3D[;_'\-*5
MI_9&3ODK2M*_ZT'-(YY=W+/J\?Y0YY=W+/J\?Y0YY=W+/J\?Y0YY=W+/J\?Y
M0YY=W+/J\?Y0YY=W+/J\?Y0YY=W+/J\?Y0YY=W+/J\?Y0YY=W+/J\?Y0YY=W
M+/J\?Y0YY=W+/J\?Y15;?6M:TY+.O;?3K8[*5["[Y:6\M/\`K3KCO7Q%_:R-
M_P#(++]&$D7$```:HG-CWQ2K;\K^%?0V8!RP@``````%>/LJ^)D_#N'<UX>W
M:$:1>2'K3ZE60)@````TP.;8^T)U4\K_`!>I*3AS1@``````%5OPU\6__9<.
M]E$7]K(W_P`@LOT821<0``!JB<V/?%*MOROX5]#9@'+"```````5X^RKXF3\
M.X=S7A[=H1I%Y(>M/J59`F````#3`YMC[0G53RO\7J2DX<T8``````!5;\-?
M%O\`]EP[V41?VLC?_(++]&$D7$```:HG-CWQ2K;\K^%?0V8!RP@``````%>/
MLJ^)D_#N'<UX>W:$:1>2'K3ZE60)@``\<M.[3Z0Y:=VGTT#EIW:?30:8/-L=
M:5T)U4Y*TK_S?X_4E)PYHP``````"JWX:^+?_LN'>QB.M/Y61OUZ?^`67\M/
M_+"2+B<M.[3Z:!RT[M/IH'+3NT^F@<M.[3Z:!RT[M/IH-47FQZM*\)5M\E:5
M_P";^%?@_P`FS`.6$```````KQ]E7Q,GX=P[FG#VK3WA&D77IVH>M/R_^RK(
M$P.6G=I]-`Y:=VGTT#EIW:?300YE3669Y!?BZ[FIOQM1"Z`K=+>@(UCEJ:@J
M3-;?0*423S/2<[*&KTB/G-TV-E<ZR?Z=O!7YVHJ!O&G=`IEA-/*V]]YGL3\Z
M3N_]AM`OV4A[S/8GYTG=_P"PV@7[*1#7=7@8,_B(,%IQAN%OCN[+;'9#QJ_F
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M=*)J0G$$E/+6LC06^A<@F$\!`EAKDR:5WY<MV(J7PV79LU]^;-=;7+GR9,U]
M]]W[_>9[$_.D[O\`V&T"_92'O,]B?G2=W_L-H%^RD/>9[$_.D[O_`&&T"_92
M'O,]B?G2=W_L-H%^RD/>9[$_.D[O_8;0+]E(BKN)P64S?J)"\%[9;_[O2I%I
M5XH;^P-JJ?IDS[L;K;9)93T94HLL?49NKE;2A1P*V*XC51J0,U,VY#);-E+%
MK\.+7J+3A@]_+=_SBPI[`@ZBTX8/?RW?\XL*>P(.HM.&#W\MW_.+"GL"#J+3
MA@]_+=_SBPI[`@ZBTX8/?RW?\XL*>P(.HM.&#W\MW_.+"GL"#J+3A@]_+=_S
MBPI[`@ZBTX8/?RW?\XL*>P(.HM.&#W\MW_.+"GL"#J+3A@]_+=_SBPI[`@ZB
MTX8/?RW?\XL*>P(>:<Q:\,&G+R3EN_3EI6G]Q(3KUKJ5I7X8"K\-*U&<9@</
MB7XN8;)C-B\33=Y"9$<L]L,)G(MK0T./42&HSD,@W&ZF='*.F!M1/7$$=,)%
M;CJ@:-'SEV*IDZ9,&LN7-?\`6^\SV)^=)W?^PV@7[*0]YGL3\Z3N_P#8;0+]
ME(>\SV)^=)W?^PV@7[*1D)`````1+VYVJLU*C\_*2K#LI2>PV:@KS^EI?CLN
MV+\491<T*IU[L>1\NYG`@F'2?2B"AE6BC'9]BN[5M&0G$93B-Q@@3**=D9'X
MH&OL4.>8"SW*.M-CF&E:66.NRQ@+)1MM*\NP;!Q/8N2XI;Z5:IXG"><B;&)L
MQ>B&[R.%+<KR;SI8Z>8L6DHITV_8_N)#%\2:\["S=*#%?[:=&LJB>;TDP62N
M:KBD[*ZK(G1)S1D%K435^C;7NG<2N$B^>G%%<FD(:*G.PRX#*=C9Z]D+9#29
MJPZ4*G,5*TQFB^`SCI6M*UI9GQ69K.6M.M7_`(;Z=>G6K7X!^D`````````$
M?-DIP78$CT\^&[#$CSB=3"JTL'VI&^1ID%(HVVLA*#F<BP85WRX&NVL67`EI
MN0DA(UZM16<SB.IB0GE\9;(I*J5')A\2F#))D1BM5JICQ,,I^*D-,M/E-232
MJ(W$Z5=@8!Q;/1-&JNBJILLZR:RXX:.(:R94.E-Z:CN-V--G';^G"OEJ0N$A
M;OQDJP3-,^*3:?;<;\)2A.40+354T]#.OIROF#'XNQN>0V:CH"^L$%M3?CI0
MZE(^2\2O:?5Z*B5:HX4DQE.%R5_8/E5&G6%XBFUNIZFD-^8HP8$IH:4M5)56
M$Q'D)II#O3$]5JFFCR=52)$5C`6/5('39*IK%EZ%-&,'.\U]T0`````````!
M#;<"')XFU&935BE>A`HS":P<7)+:$V--Z.Q`D/,EVDCC!0U$JSW*V<^5FH[F
MP6NAW-LP;]P^<B2AMTZ=(MV]?)K4%9JX2RQ.9R4F4Y9A2T.&'])6P>Q9'$AM
MI0SO5+V$V%UHS:_*N7)@-JV-*S1RQ%I;?<N-U/SJQU975%T(S"6,A-$9V5<=
MGL)<X4K@V-CG<,_*TY.1F3_MHFR$GFE*&'2^FY#S&+.;7N.->$!&/,^Y43S<
ME)>%NQDF+KF-+UJ,I*E[E<S4)7D4#/=<=S"-5"HUVPW6U:H*2M:WT)'0[519
M.YE)74J)*<63Z'U11,W7&#ZB<H6Z)/'3%UV8T:RY<^6ZN3)=6OOP````````
M`19VXBZ9YEC0O'L1..-4$DOK>(M*1&3$IVJ:4]HSO('L:['N#*S5E"5T<N\3
M.0BEN94P'+S.5G7+Z$0L)G%O&L)D1R7#X?QZ:FD]W7(C#Q,'+L#!>X<EM=CM
M1:;F4WL)"&L*3K>EM&/B*@L+>!MPBHWM9A2&5)JJRL.1#RL_(Q\%AU+<>5=1
MO>(W#L.*T52@P7_++O1EET[,[9[$LE?AAZ/6/,2"8V;5'X=Q(CH+$C^.YV7,
M].D!91.?9[L!-0LORJA$DC&S-<.*86J$(9M:=8]?->C#H.O8S",,1I%1EW'[
MC=3#C-,-H)+:,K-N(^;/FRA4_G3LF<@GYCIJY,3[BJ;:8RV%+<ET@`````'_
!V3\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>21
<FILENAME>g1001494.jpg
<DESCRIPTION>G1001494.JPG
<TEXT>
begin 644 g1001494.jpg
M_]C_X``02D9)1@`!`0$!A`&$``#__@`_1$E32S$P.#I;,3-:1$DQ+C$S6D1)
M,38W,#$N3U544%5473(V.#8W7S%?1TQ/0E]&55157TM?0D%2+D504__;`$,`
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`?_;`$,!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`?_`
M`!$(`+\!+0,!(@`"$0$#$0'_Q``?``$``@$$`P$`````````````"0H(`08'
M"P(#!03_Q`!<$```!@(!`0(%"1(*"`0'```"`P0%!@<``0@1"1,2%!4A6!@:
M,3E1EI?1U0H6(D%367%R>)&3E9BQM;?6V!<C,E)55H&2TM<D)28W86)V\#,T
M-65%=(:AM+;!_\0`%0$!`0````````````````````'_Q``<$0$``@(#`0``
M````````````$3$!(5%A\.'_V@`,`P$``A$#$0`_`+_&,8P&,8P&,8P&,8P&
M,8P&,8P&,8P&,8P&,9X;'K7L>??A!UT\^OY0M!ZZZZ\^O/UZZZZWTZ=<#RWO
M6O/O_O[W_>M>?V,^*UR-D>ETC;&MQ(6+HB\IX](TQ6C-#:GE5'V.5)V]1L8`
M`$>;'Y*QN@>Y$:7I.XD:$/1VC2BXNRK?=^T8H>:0BN7T^@;E@5JA(FU8/DOD
M#8YR6KDCL-3%9,ADT',CM@,T)NJHI/%[.JRTXJ@-W";"$S-[HW2!R@<KBR[U
M-]#<N7.?5P[1B_S0,5>VVTH[@>QF.4&?K17P2)<;6%PL"0QIHBYT7LXNP(_7
MELUG+X*_&H6IK3V'&+(K:61F5UJ4@=@EDR,/MAZUXDW+V?=ZU9S<Y#JN,''>
M7D1+<QM=ME31&'9`KB<Q9)VPLC.4]-KVFECF_.T73("H,C8'YYE!9AB%F:SG
M/:0PKB?D!VKFWFT9'Q*[-BJ=\Z>7;"?Y,G"ED>Q,?%/C.<,TU,:Z\E^0:8M5
M'VIS:S"51H:E@Q[[93^H;%S%W,>=!$;&X\]E&-UM&/<M.TGMG?.SEXQG&.,'
M)?V,++Q4XS&J#RU9;1QGX]JO&8\T.30,I*F#;LW(?+-?#FM`_>,QYV$IV:'6
ME]H-V;D#I1)1TGXP0#E"T03D=/4\"XW-7+L^'Q[DCRA.&:E;UMAU_P`>X3#6
M5SK2G"WIXB;-%I!:#T5+;&739@51V.)6\A\"T=I+V2W`:-]FQP0H_BZU@2*9
M>PL6I9<DA1F#.*E5US$E*Z6*\$G#.-T8V(W0),7CFPZ+\"+QQC`,'?:-&/\`
M!;W96<=;R[1>@.TGL=UL"0VOQMK0^`5I7:UY;%51-KJ6ZREU9;#%'E30>Z`F
M;"HF;VH1')GHAL&Z)X\^FH/*T?2J#I,M:UK6M:]C6NFOL:P&,8P&,Q&YJ3J^
MZRHR96+03U4S+(H%&)7,E!5KQ&73M',5K"PJ5$0J^/QV'3*!.A3]9<N&U11&
M_IWIX<6I0M3)&.#RYY=D:5)LR"\D;8?.8,9H"8Q"+1%B?.#T2Y&O3$#;@ZS2
M'VFX6D""RN%JY42[ACSY'&=.H`D2F(XPW+1NJ!6M,<%"-60B2AG9C(Z5'.]B
M]6(_<>W,A;"8)#+)@7'[<_=X=(7=HL?DK8].ZO=LJQKER`\N+P%(S5HZ150D
M<Y&!>KGLWD?SE-08\K:6X4UD5UO6]:WK?76]:WK>O8WK>NNMZ^S@:XQC`8QC
M`8QC`8QC`8QC`8QC`8QC`8QC`8QC`8QC`8QC`9IUUUWKKKKK77>NNNNM>[O7
MTM9BU9/)UGB#M-F:.,"B1I*D=(HEOF=K7^%Q"`42QRI@^>HZ33-ZG<JB2=Y%
M$8>L8I]*8M'59CLCA+VV.1BQ(L=69"Y0S5CRXY)-_(^:M?(20\EIK7T.@MF5
MIRB%QYK=GG51M@[==(Q+>$')?CY`Z@$\<NJW@,]HXFP@/\W:$]O-$;LAO=X/
M('HV4P1=.20F3Y!\@W_C_.:,7R.)-)O'JP9F&K;/M83ZO)=:EG\[6-3+1CBZ
MQ\ME.:C*VF<U,,KJ42U=(6\^*S"85MKR8K8'.2O+!%AQFD7*JM[TC$13-4O>
M[I;8U=]/\N*>L1TGC+4%L2JM(J_3;BSSPIJ;.S/,&N+1.\Q-+=6%Q/\`$DSJ
M27)K0;8U-H>HL*FTQ"V513$8K;7'VSZFO6"O+'3"B-/U;*E-HS,A\>9]3":&
MM*85CRMZ>3QR6)N+NA/<S78<\.;[`CSNT*9$^&MCP-.I(B[?.T=M_E*ZJ.-7
M8PUTU72WPLT,!L+M![K<I6X\-:;TTD:;UH85+%ZU=,N8]LMQ9(MB0PYR<HV-
MV4-;U+IL]M2US-`')DP.[/\`[)="T\L+LE4A@=W6-6*2H%D?6VG.^0-R\@7?
M;VR2>/U?!XZZ;4S6YGNN9`:=#ZM,C\?86&#Q.1.",Y%%(ZZG>(<0!J7M#NUA
M_P!/Y)*+![-/@([_`$:;BU!I&F0\X>1T84;T>G!R*M=A-/3<;X0_H=I2WFFJ
MX4++`4H5K_&)K)$0M(5P,N^'O9:U1QTGRSDK<TUE_,CG+)T6D\OY=7V6WNDP
M:RC@*/&HM1T-3!,A_'FM2!+G!,UPVN$J14!J5;;7F0O:8LH!4H6M:UK6M:UK
M6O8UKV,#A/CYQOHGBE5T>I7CG5<,IZKHL6(+/#H.SD-+8%2:`L"QW<C`]XO?
MI$Z"*`>]29^6.<A>U?A*W9S6J1C-WS;C/$0@@UU&((==>G46]!UU]SKO>M=<
M#RQGJ[\CZL5^$!\>._(^K%?A`?'@>W&>KOR/JQ7X0'QX[\CZL5^$!\>!P!R!
MXX1/D6WPUOE<NM:):@DF',&%75ED/]=+@R(+6L:$#DX*6(01.9K*0X+%;$%:
M$TMF>3"'YO"0](&U<C_#ZEJN`3\%HD.5@D3\KCN/C$5*P6!(37PNM]NX)`!9
MMS5'J%Y\])?RPO9=AJ51TKVY",4&N!G>#"+(WOR/JQ7X0'QX[\CZL5^$!\>!
MB8R\*J5:)LP3Y45+Y,_,[I6\Q<=S&6N$G2R^V*EKG^":"W;,BW0!Q[W;37`/
M`8U<JTI2$O9J)C?'QJ<9'&(N[LN6^M:UK6M:Z:UK6M:U[&M:\VM?V9Z^_(^K
M%?A`?'COR/JQ7X0'QX'MQGJ[\CZL5^$!\>._(^K%?A`?'@>W&>KOR/JQ7X0'
MQYJ$TH6]!"86(6_8T$8=[WTUUWTUK>][Z:\_V,#V8QC`8QC`8QC`8QC`8QC`
M8QC`8QC`8QC`XHMNW8_4;9%CG1(X/4@G\W8ZVKV)-&T0'>83>0)W-Q2LZ`]T
M5(&M(4@8&&12I[<'!:G3MD9CCVX!"K4)DZ!7@[R[L?F,UU_0$JIO3/4MRJ+[
MD<8<:E>&<N[Z[N9M#7EN+(77LDD$=3Q:20N-V(NC47=-6TRFLCC3+PH`ZRA@
MF,599"P/N2'+SC*+E!7$<8&.PGBHK0J^SH->%(VPRM261FU];5=*UAK`ZNT2
M7K&YOFL.?&AUD,(L&%K')IU*H'*I&S(WM@<E2%[;]AO$?202"*KP[0"X::);
M:N%#)LJ?F@$AI.A:S<*]=%CNVS11N<V9*%Y[NK?7$"CQF3R0QO3IR66,MS.L
M/)7.<A#"J@8AR-MRS.3%KQZMFFLX/R+=&J'<Q.'_`#*@3Z^LL1Y#5S6,<J%\
ML3CY;D#\;KOD+24^KJ-PR/2EM"V`CTE6Q!*XHY77,N43>#-VM@W3P9[)IEHJ
ML-IIIR4YIHJ,C?'2@JDKUFW;_-"UJTC;L\OD8AK:TI#37"'U2TNRQ?I/*YPX
ML\39V9H)3+)')'%D"%3Q\=S/YK=J$<=%^S$CZOC-Q)7'GHG_`+3:^X(>8[SI
ML+-,3+0\)N.TH*;G2;F'>$#R?<UK$,D"2=V[DMK&>]-Z(T^07A9V</&G@VED
MSW6K+()S=MD;`JNCE!<S^ILKDA=;MX11ARZPK0>@;<SD`CB"34L2CY3'#6T1
M)0T3"!3HQ4:&`3=P(Y>]I,Y-M@]K-*RJKX]!7HWV'=EKQ]FRHR`[\3."H;Q\
MRKYCPVUXY#/A1FBCE5<PPQ@J)M7MR%40:[=^ZH#IQX/!(5642CT!KJ(QJ!P>
M(M25BBL.AS&V1J+1IE0@T4C:6%@9DJ)J:&U*7K0"$3>D3IR]=?!+Z[WO>Z_8
M]C&`QC&`S"3GT(0:.1[`(0-_/_&-=0BV'?3Q5[\W4.];Z?VYFWD>_:6V/4M6
M\=T$EN>UX=3<0,LN(M14MG!,J/9C7I:CD`V]F`7#XU*G;QY>6G5F)A";`H]!
M2G=^K(%LH)H1)]\=]6._"F?XL=\=]6._"F?XLX`]6;V?OI]\<OQ;?/\`DMCU
M9O9^^GWQR_%M\_Y+8'/_`'QWU8[\*9_BQWQWU8[\*9_BS@#U9O9^^GWQR_%M
M\_Y+8]6;V?OI]\<OQ;?/^2V!D.D&`Q4F`L6*TZ,9Y051Z?0U)Y*;9@>_,(3B
M/("><$KP]DE#.)`,WP`C-+!L0];NES*TMBB,F1UX=34,FCK>^;320:5.YL!J
MYR<6X"5W/:S1(3DYI*$E[2KDY*?9C.X)C1I0CUH1V*:+FKV?*18E5&<\.,[@
M6F4$J!H5[5?YB%:$DP)FTJTM/3B8\Q(?H/=*2R5)!AA(AEA-!X7A:W<[]H#V
M>[TY+717S*XA!4KPIQ'=RR<FM`\:*>"'0]=U45TI/&>N3$;8%!0C_$26`T:-
MN2(%($ZPD,C+'BZ&'N32D9E[HZ-KBS@<DTA,=F1T99"'QM0B-<8RKCYI@`M(
M%*4],8B=]E/S>K+,2N:8@TO7><=]\=]6._"F?XLX=?>=?`%[&D`#G9QC:&UM
M`L*:F9K;.0VT+:4O7'.2P)1KE43BXJ#%*P\9IIZU<H-%H))0=@*)+!KX7JS>
MS]]/OCE^+;Y_R6P.?^^.^K'?A3/\6.^.^K'?A3/\6<`>K-[/WT^^.7XMOG_)
M;'JS>S]]/OCE^+;Y_P`EL#G_`+X[ZL=^%,_Q9DYPX,-%R-KW0C31:WJ4==",
M&+6_]D7W>NNMBWK?3?GUUU[/GR.3U9O9^^GWQR_%M\_Y+9EYP0Y-</;!Y4U?
M$:MY>TK9\Z=M3'R)!XDAMLF0/>D,'D2]Q\0,DU81YD#Y/;$ZMS4^.O"3JE2'
MZ3]^IV4G-"QOC'LXP&,8P&,8P&,8P&,8P&,8P&,8P&:;WK6M[WOIK7L[S7.*
M;RJHJ\:@LBH#YY957DV/$'J(&V%3DK,@UHPXMZ2B2#D$#EQ21>./29O"+9K8
MZ:1*@IS?.-.:`0@;"/SEKVJ5?TS98N*O&*N)/SAYVN201K;QDI9P;RD5?E&;
MT`J3<E[?6A4P3CK"$XQDB5+IHI,E"@"E#MLBRE.N*7`X4K3LM[.Y.3F-\B^V
M!LR-\FYW'W(N15CPS@25R;N!/'M?X(MHU!%>OGA.'(JQVT!RLHZS+D+<$@=+
M3T31%@I$#2O)D>XE<+>-/!ZLPU3QHJUBKF.*E>G>3N*?:EVF=@R<8!:5S&RY
MR\G+I78$N7C&:8I?Y0ZN*L&C-I4/B2`LA&5E-@>A,E3(B"4J0@E,F3DE)TZ=
M.4`DD@@@&BB2"2BPA+*))+"$LHHL(2RBPA`6$(=:UKWXQ@,8Q@,8Q@,KE_-0
MN]Z[-MAWK>];]5#3GGUOI_\`!K#RQIE<KYJ%]K:8?NH:<_0UAX'7S>&/^<+^
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MF=_.-#&B,*6B(O#F^AF,A;`QR4C_`-GT2=F7(6],J#!*P*QL"K'%&USZ/*X^
ML<-/847AK6QS2*CXQ(W.'RE`2YLB]S;#'6*RQE=8Q*6D*S;E'GY`H;79*E/V
M3H[8/AC_`)PO[V_CS+/D9:<"D\*J^L8`Z*94WP2Q>4UF.$R4L;E'`N!O(>SF
M"3L$;2-+P22Y$#BT1AK$.2","<@U,WV0H&1<[M+:F>G+$K`\O#'_`#A?WM_'
MCPQ_SA?WM_'GCC`\O#'_`#A?WM_'DR/8`"%OM:>*NMB%O7@W1YM[WO7^XBR,
MALR9+YG_`/;:N*GVMT_J'LC`[+T/L:^QK\V:YH'V-?8U^;-<!C&,!C&,!C&,
M!C&,!C&,!C&,!C&,!C&,!C&,!C&,!C&,!D2';1\0E?-GB"UTXBM2,T^<ENFO
MIMN5RN*RJ8-9H(\WRQ.)G"TP_P#UL!6OV[:,(6"_T-.%*8%1]$:5DM^8I<Q?
M]TR;_K%@_P#QW7`I)^MX7_T\*2^`:^,>MX7_`-/"DO@&OC+%.,"NMZWA?_3P
MI+X!KXQZWA?_`$\*2^`:^,L4XP*ZWK>%_P#3PI+X!KXQZWA?_3PI+X!KXRQ8
M5HK9A>CQ&`(\,'?#*`$PT)7A:[P118QE@&9H'A;``9@`B%TT(8=;V+6ZY9'T
MK`XM)1&GHA$[,+*^Z"\I4FEZ8IT";LP!9J$8&UT*+`5HTA4C,**$,W:%1W"Q
M*J"$*U'K>%_]/"DO@&OC'K>%_P#3PI+X!KXRRM+F!*PG,8T07HM*^QU"^DE/
MB9*4J*TJ4KD_@%*F\0F]>G$!(6I`<FV$:82G:!8`"Q(?UVE@5UO6\+_Z>%)?
M`-?&/6\+_P"GA27P#7QEBG&!76];PO\`Z>%)?`-?&2"]EGV-#QQ4YUTA?*KE
MI5MF$08-B:,A,<J2VHR\O/SQUC+XN'Q-[DW^I$7D\3QIR/\`'?\`S"=*:F3_
M`.DFDY))G/?&+_?A"_L2#_\`6G;`EUUKIK6O<UTQC&`QC&`QC&`QC&`QC&`Q
MC&!A]R@YDP3BX[0YBE+(\O[W-8I8TS8&9H5-2-UDZ*L%,((?H?`4+NI2FV#;
MKP7.V];":HC6SY/+4#1)%2`)0&G>C_7R4YFP3C:Y+FAXC4HF+K'*,M'DW-&R
M,!;2EL=HFF'R$,5B2\G3TK;DCRZM)L[;ER**I%9+BZ-[4_"*/)6IFU"[;0YM
M<+=<P$\0;UTH:VMLC3),D+62\L[HO7UW8;\XPEU@G):H'AD?6%RAO(6D%42<
MBJUE19^_%VZ;2IJ&N;6UT=TKW\CDEP?UR_9U,2OQ;6;JR[D4VC2&6Q&"R*/6
M>FXU3HJ$ZFE(BD*B<.#=X];`8P>S6S*T[:5&W:-C;-1BMH[+V=FF+,&?S:XH
M'AO0NK6K3KVUR2)E[>N2F@/2K4*T@M2C5ICB]B`:G5)C2CR#`"V$PHP`];Z;
MS]N>E,F(1IR$J4DE,F3%%D)TZ<H!!!!!(`EDD$$EA"64226$)910`Z`66$(`
MZT$.M9[L!C&,!C&,!C.,YW-W&/.\2C3(@2+'N7#DXTIKB:<6WI4\7C:I[/[[
MQ?83C#ERO3:V%:T,L*8I8I<A>,;0!0J_@R&V3$M*-]N,#42ITZL,.D21J=%)
MI`2T<G6,99Q!ZA*2,>U2)*[&;!W9823E)`0B&62/8PAS5C--;ZZ_M%K[V]Z_
M_F:X#,7^6[:Y.E6)DS6W.+HIU+F(W:9L0+'%3HH!#IH9NTZ(@\[10-B#H9FP
M>`#8@Z$+7A:ZY09`5\T>6-8=7]GVR22LY].*XD8^1]3M8Y!7\OD4*?1MBUIG
M8UC:-XC#DU.0V]6-.G&J1"4[2J!IR!'%#$27L(;I^<R9_P!39A[U)#\FX^<R
M9_U-F'O4D/R;E#+U8_+_`-++D_\`E"W#^VF/5C\O_2RY/_E"W#^VF!?-^<R9
M_P!39A[U)#\FX^<R9_U-F'O4D/R;E#+U8_+_`-++D_\`E"W#^VF/5C\O_2RY
M/_E"W#^VF!?331&8$*"#S(+*599)Q9HTBF*2?Q92``]"$G/\71IU&B3@ZV69
MLA00=H`M[+.+'T%K[9K9,C]`*/K5Z/1I4A*!I0G12:"(94A;R-[/*0F`T6I&
M)>>>L2KS5AZDPQ(N4:($F4:3GD4$?5C\O_2RY/\`Y0MP_MICU8_+_P!++D_^
M4+</[:8%^%S8INY:2$Z@LH0H&XM42VMJ2*RD25`2M6GN*DLH:M(I5F[.6*##
M1F*%!HQ?0:ZZT'S_`"_G,F?]39A[U)#\FY0R]6/R_P#2RY/_`)0MP_MICU8_
M+_TLN3_Y0MP_MI@7S?G,F?\`4V8>]20_)N/G,F?]39A[U)#\FY0R]6/R_P#2
MRY/_`)0MP_MICU8_+_TLN3_Y0MP_MI@7S?G,F?\`4V8>]20_)N<Y<;8S)F^Z
M(<K<(S)&](5I^[U6OC[RA2%>''74`.]5*T)*<KPS!!+!WA@?#,$$`>HQ!#OK
MP/5C\O\`TLN3_P"4+</[:9+)V'/);D?/^U!XT1.><A;XG$5=0V[Y4B\RN2R9
M5&W/Q*EI^O1^46%_D[@TKO$UR9.M2>-HSO%EB<A41W9Y)9@0[#7&::]C7V-9
MK@,8Q@,8Q@,9H+KTWTWTWTWTWOV-;Z>;>\KW\O''MBB>2-K%<<^;G"NL:3`]
M-6J_@=EU^[N\ZC;9N+,&W!)(W)-2,G)5JU+_`+>').,M^<M`;ER(K9I8B]IR
M0L(XRJ]Y6[?7ZXOV>7P6OW[NF/*W;Z_7%^SR^"U^_=TP+4.,JO>5NWU^N+]G
ME\%K]^[ICRMV^OUQ?L\O@M?OW=,"U#C*KWE;M]?KB_9Y?!:_?NZ8\K=OK]<7
M[/+X+7[]W3`M0XRJ]Y6[?7ZXOV>7P6OW[NF/*W;Z_7%^SR^"U^_=TP+4.,JO
M>5NWU^N+]GE\%K]^[ICRMV^OUQ?L\O@M?OW=,"U#C*KWE;M]?KB_9Y?!:_?N
MZ9-MV>:CE>IH5:9S(N*H;OMO5B2H*694HQJH_#B8:%*Q^0&,U`LAT(-$]MRC
M;J:XJ=,PP&EK$F@KE&P"`2&6TOA#5+AM*E6H7MSFR&N0FQU:S"2EZ8EZ:E+*
M\I`"/3JBMIW!M5#+,\(G8R%)*)<F,)5HR#`_`<ZH8G"'ND$,=9`1$UR&,MC8
MT(SF\)<9;8L0UDH43`=MI/5`(4C:4JA=MT-=1F'C.[@Q,48$H&%W.]Q7H[`X
MPDR]>]M?'E4OY$ZMM6W+5;:V&R4OCS+M5*B>5B`\E1M6:[FR99!DQV]DF60W
MQ!0U[#,T<0T/B.0*8G=79XPQIY)ISK4Y%4Q1M#NMG589*I8R2))RILBG8ZA@
M++8[3#G^/NFGJ42Z=H#/$'(\;<!6\*'5.ETH2)5"6Q[KW,7A)S.<17R]:O5S
MM,`'ITUTZ^?S^?6];Z[\^][UO6MZWO>^O3IKI[FLUSC&E:W1T[4-85.@6JG-
M'6T!B,%(<URE:L7.FHLPH64QS6K'%2L7JE;D<C,7*%"Q4H4G'*!C..,'O8M\
MG9%,KL?-.OM<+%]T[3WZ'L'+$^5V/FG7VN%B^Z=I[]#V#@=?]C&,!C&,!C&,
M!C&,!C&,!DQ'8&>VP\6?M;F_478V0[Y,1V!GML/%G[6YOU%V-@=D^'V-?8U^
M;-<T#[&OL:_-FN`QC&`QC&!H+V-_8W^;(>^16]_PU3_S[_\`5$'T_P#V!GR8
M06^@1;]GH'>^GN]-939[1[MG7;C;S=Y"4<GXBU781->2A@:BYF^V];L>=W_3
MA7\/D&U2YECVO(K>80)XV@`4@_BC"$A2@S^/..P)..N_=W]_>.N_=W]_>5[/
M7!KYZ"=*_#Q>_P`6/7!KYZ"=*_#Q>_Q8%A/KOW=_?WCKOW=_?WE>SUP:^>@G
M2OP\7O\`%CUP:^>@G2OP\7O\6!95K_?18K-6QA+(F$D.MOVCF<YU7[3'IU2=
M"ULIQ74YM=G%Q,*&D5H.[7%C3>-&G:;4"LL:OTH3'@IJ=T#<%,]MZQ*4J?V%
M4M2B5J&IPTUZ*<@EA/8DIJ\L*L3^W@$:G"BV8+8T92H(:W*/YHAF#<$T#=PG
MJAO`=O6S@-_(GD(A`=O0=@ULX*0\D)N]`$(&MF:%O01"#KIH6];UW\T1S':4
M2'?">J-HA$)THD>^1'(/:025)LX25,)-L[9&TZ;:A1M.1LONB._/[H`-'&^&
M%@$`A;`#>Q"WO8`[WO>_/O>PZWUWTWTZ[]G?3S=?8\W3/+KOW=_?WE>SUP:^
M>@G2OP\7O\6/7!KYZ"=*_#Q>_P`6!83Z[]W?W]XZ[]W?W]Y7L]<&OGH)TK\/
M%[_%CUP:^>@G2OP\7O\`%@6$^N_=W]_>2A<.M[W4RGKOK_MB_P#L_P#R[5E*
MKUP:^>@G2OP\7O\`%EISL9N6ZGFEQ&<[?5U;&JA-2W-/X7J*1652J8-A@(^W
MQ11IW$[3#_6H%:_;KLL]&'_0R`I2Q)_HC3<"6(TDH\'=G%@-!X0!^`8$(P^&
M6,)A8O!%K>O"+,``P`NG4!@`##O0PA%K7NR^N][`'>Q"`+>]AUO>Q`Z>`+>]
MZZ[$#8=;#O?78=ZUO6]=-9YXP&,8P&5V/FG7VN%B^Z=I[]#V#EB?*['S3K[7
M"Q?=.T]^A[!P.O\`L8Q@,8Q@;@C,3E,T<QLL.C3_`"MX+;7AY,:HVSN#XXEL
M\>;%3T_.QJ-M3J3RFMD9T2QU=W`P`$C:W)5"U8<2G)&9KP.BTF3Q=KFZB.OI
M$,?'EQCK++CVA>3&7A_9T2%R=V1J?3$X6QQ=FIN<VU<YMZ-2<J0)'!$>K**+
M5$"'D?PIFD3K[D1'Y5-Y,U1"-)J]Y`LJQ\>E*E,W%+YGQVM>"QM$<-(G5GC$
MZRN3L3:6'2<PHL2KQI3LI(F//*][8\Q1^X;4S3AL]B##-R>9$VDKNWR-U7I$
MT2A$SI6F(`WSR1'I&MR`@B".21B0>65C>6XN2)"VF.(6=44H2>,!CJ=!YFGC
M">;*(G(B8<J-3DII08T+0,)PU:MP;TFP.6RO%^Z6.+2ZMR)2(04BUQ;'!`D/
M/6(E1!6ULD6FMHUEOAR54VY1$':PV&)UW&6R>0U?HN;R\F(WS/WUXX^SUC-C
MJ$Q]H.!-CVBNNDK/\91.:Q^4I8Z[+G]*:TQ.`1TX#&,8#)B.P,]MAXL_:W-^
MHNQLAWR8CL#/;8>+/VMS?J+L;`[)\/L:^QK\V:YH'V-?8U^;-<!C&,!C&,#Q
M'_(%]J+\V\ZRGMM_;4^97_7T/_4]6N=FL/\`D"^U%^;>=93VV_MJ?,K_`*^A
M_P"IZM<"*_&,8#&,8'@,PLK6MFF%E:V+00[-,`7H0M^P`.QB#K8M]-]`ZZBW
MTWTUOIGEO>@]?"WH/30A;Z[UKH$/30Q[Z[UT`#8@Z&/?0(/"#X6]>%KK(IV?
MLC?(<ZV:Z!B\Q8X)*VIIK6P^3]>S_<$EW&-E?T<B=4\E*&J"OCSW%G]<TI39
MO&I,R&IYBS1LN*1]]8I6X-!I_)7`.,)8>WN^[:836%)/EU`S:NY(C&@<5,8+
M?&JZD</M>X8IIZ)W-N$6G1`Z,?(6%K5+2^EKQPUW&J;?)AS=)0BBQFF@=WK1
M?A%#[O7=^&GWX2<?=_0>&G%W96A)Q^#X:<6BBM;)$#>BBNO=AUP&,8P&=@#\
MS%>UPOOW3MP_H>OLZ_[.P!^9BO:X7W[IVX?T/7V!8GQC&`QC&`RNQ\TZ^UPL
M7W3M/?H>P<L3Y78^:=?:X6+[IVGOT/8.!U_V,8P&,8P&M[U[&^GV,UZ[]W?F
MWUUY_8W[OV?^.:8P->N^G3KOIUZ].N^G7W>GN_\`'-,8P&,8P&3$=@9[;#Q9
M^UN;]1=C9#ODQ'8&>VP\6?M;F_478V!V3X?8U]C7YLUS0/L:^QK\V:X#&,8#
M&8_=SRC_`*3H3\0V1^T..YY1_P!)T)^(;(_:'`Y_'_(%]J+\V\ZRGMM_;4^9
M7_7T/_4]6N=BMLGE'O6]>4Z$\^MZ_P#0;(^G_P#4.0'\L/F>4SE[R(M+DE..
M0^XK*[7>6Q[>H_$XQWD=;%#5&&&*DDM8WE.M<Q$F(H^E4F[5JCA^-'J/`V$G
MNRP!1)QER_UJK&/2GD?O5;/DW'K56,>E/(_>JV?)N!30QER_UJK&/2GD?O5;
M/DW'K56,>E/(_>JV?)N!3,$44,8#!E%#,+_\,P918S"_HM"_BQB#L0/H@A%]
M#O7T0="]G6MX[HGS_P`23]$(0A=2B]^$(?@Z&(7T/T0C-!!HS>^NQZ`'0M[T
M$/2YGZU5C'I3R/WJMGR;CUJK&/2GD?O5;/DW`IH8RY?ZU5C'I3R/WJMGR;CU
MJK&/2GD?O5;/DW`IH8RY?ZU5C'I3R/WJMGR;CUJK&/2GD?O5;/DW`IH9V`/S
M,5[7"^_=.W#^AZ^S"WUJK&/2GD?O5;/DW)F^`?`VW.SQHQ90E76-7D[C2VP)
M/8ACW/X[*"GT#I*DK(E6(``C2YK;_)Z8#&G&E$)-M3L1Y_>F#UX&@A*]C,?N
MYY1_TG0GXALC]H<=SRC_`*3H3\0V1^T.!D#C,?NYY1_TG0GXALC]H<=SRC_I
M.A/Q#9'[0X&0.5V/FG7VN%B^Z=I[]#V#DTW<\H_Z3H3\0V1^T.81<_.!MN=H
M=1B.A+1L:O()&D5@1BQ"WN`1V4&OHW2*I7M*C0#!)5SHW^3U('Q0-4(*;2G0
MB".Z,!KP]"#K-<9<O]:JQCTIY'[U6SY-QZU5C'I3R/WJMGR;@4T,9<O]:JQC
MTIY'[U6SY-QZU5C'I3R/WJMGR;@4T,9<O]:JQCTIY'[U6SY-QZU5C'I3R/WJ
MMGR;@4T,9<O]:JQCTIY'[U6SY-QZU5C'I3R/WJMGR;@4T,9<O]:JQCTIY'[U
M6SY-QZU5C'I3R/WJMGR;@4T,F([`SVV'BS]K<WZB[&R:?UJK&/2GD?O5;/DW
M,G>&_P`S^J^%'(ZO.3%?\@BY?+:WU*=-4>F48&7''#YZX@^0U;Y1&Q$M[IKQ
M5`_*5:7Q965U6$$:.[PC9A8@LMA]C7V-?FS7,?M$\H]:UKRG0GF_]ALC]H,=
MSRC_`*3H3\0V1^T.!D#C."6\KDKI>AVZ.-'B;-+4FW(*!DL(M>)OTH+VM"A&
MI?C$P%@DO>Z2C4%F$`/V6(X`R]"#OG;_`+^+`8QC`8QC`8QC`9^=4H"D3*%0
MBSS0IR#CQ%)2#52DP))8C1`3IB`C.4'CT#822"0"-.,V$HL.QC#K?Z,_.L"J
M$E4A1#(+6;(.TE,5%F')@*=EBT0)042:2<80$[P-G%E'%&C*T,)9I8]A&$(X
M6GM&V;4E?ZPG5!V]6-V)+6I"JXG64J65XXF355R)8)Q+:VD3?+H=+I-&6QJ1
M16L;)>+%;712"30D,&>2BV20`7Q=1(?.%=IU1M@+XQ\[C%-C8\K>Z#A-@R58
MC:TR:J+.Y(SN:U775;RUN"XGN)TB1V;"]PN:G-1:EIC3A+(6M)7/#8YNJMCV
MVV<'KQ<VMH?K2N>I)G;T$Y&0'E#"9Q%J9EL&+D5CQIAG<&DB*U2W>W["6/T6
M=*QG)M=0)GC!D93U6QL3"<A)DQJ(9!^PH-V34>@?B,;06FYN$"EDKXZ6K>1*
MAI4MTLG=N\;[6F%TL[_&7IK>RP0ABG=@RIM=)"UI`JW".)H<@31AVTK?5[BV
MAGS4G)>%7-:=YU?$FR0Z.HIPA+8[2EP2HR(Q+E$R;7Y6-1"5!:PU<[-3`Z1I
M[C#J[GHTC>HD+4YI6<YQ2HC%@LB\P!XE\`8CQ$M:WK#B-MWC.VFS(-34#:HG
M;EN63:)4,:JB025"F$@<9S+GT"DQP+?B"40BVY":PMJ(]K2''(W$\`,_L!C&
M,!C&,!C&,!C&,!C&,!C&,!C&,#$Z^.42JAIU5S(\4G:$IKJ?6!5-7O\`<,8.
MA'SK0"9WE8:"K*Q1.K`^2IHFDD;ULT=V1'+7.&L3T5"FU^:7ER+5(M.WDCCB
M`]H-5]BC?3&"*30Y"=5-\7-5*D>HZ5NYX-QPLI54]F+(CXT])4;4L*E1D761
M])*5[4!WBD\BD@4*6O8GYN8M^712MXV)==3SB,6343;5U:J&UY,K>P:?EL\<
M5DT"^EC<YXV/S-<,%9D<E;(:%9&JZ&\Q:0(H.\OK[,QIWUS&S)F3@&H^SJ)J
MM0<G36&6Y,4`I#DQ0-`-YS"H`?$X9R?M5NMN6.4Y5>5MBE3^Q.$=AD0:C6S3
M*0LC\7/=5G<O,D5%-8<KZYKDK8!Q"MB/4=:<EK;E@FHQ01(6I=7FE]8^J$0,
M:N#`DT563!-))/IG\NDKK!-@#=(B8;%F]YF"@:UF:%XB,XM;ZZUOW==?=_\`
MO[&_LZ\V_9UD:P."+X[T3Q*XRSJ45I**UXQPGC4%#-D]=OC5<:*W^,3K"38W
M8]820Z:N;770)4QQ`3&YD)T+A(65N?9$V@D<A9WI0W$R4ZUTUT]GS[W]_>][
M_L\_FU]+7FP-<8Q@,8Q@,8Q@,8Q@;;>IE$8V>4ED,ICC"I.(VI)3O+XUM9YJ
M?0Q%[4%$KE:<PPG1@!E[-`'9>AA$'8O"#O6N/[.OVJJ?401'/)(H0+K.='-E
M@#>SQF7S%QE;JSQU=+7)`S((3'Y&L4J4L8;'-^$7W`.\:6UP7$[,(0JAE<"\
MH.*T@OJ5L<@:)5'V$AJBQS`8G=VM<N/-.,<EB[2@LQ*:6`!.@J0E[`+6Q[&$
M0NO3>M9\WDIQVG%N/?#IA:!/":&U;8<N>K2E\*LMXJZ;1]B=>,UMTVU+X4N8
MPE/"]Q'*;$:W!2B*=FHM.S-JU0:8XJ`)FI:&_P`?.+BV3N7%J;7;T:B#5/"K
MQDB)?')N@<4E56(X&L\+F:1M61<A>\MC^^IU4>2%,:9S<2Y$D61]6A3/2-2@
M*R*DTTB,)C"^:S:3,,*B+2E(6N\EF+JBBK&SIE)Q"<DUX<Y`<W(VH(U*E.EU
MIQ-3""J.+3""$\>B]QA<G^+5]V)9]7W35<4A_P`_/"MUKP?'D$VF2,WU2$>?
MU#.BOV'W8\?.\XGQ&-$QMH;'BJCB$DC7,E[1F(W.H;]*(Z@8<R)[0?C%(N:O
M">\.,T>D#-`9%;\38V9$^RQO/?&=@4H99&9,=Y60,BD)J[02V4Y%T0*]E[4F
M%G%FC(#U$&2M?W!4UL(G1RJVT*[LEN8U1:)Z7P&;1F9(FA8<F\<)2.BJ..CF
M0WJ34F_&BR%9A)HTW\>$&ROH\^O`I_";2A46L>N92QS>!S=C;I+$9=&'!.\,
M$C8'9.%4VO#.YHAFIES>N3#"<F5$#$686+0M;]G(&.SR[)V^.`/&SD'11-C0
M6RG+DS;,"T_RR`)%T"4UU59L?2Q"RGE$5*`.^GR6:C!;JEC:1*-#H*YU2JA*
MR?$#.\^)?]7VSQOBFN*S&!N)K2;<K[OFO%-D:K`50<@VI;!XW6U,K,@CHVQN
M!O:*)JJ&O6=/<[XZH#G,MD2%I:U<35#4NKPMF6A81?Y,U1DEN/==.G=NK\QQ
MI'Y,8']^'Y4D3@2UMGC93"V.1K<V>-GE^47UQ`E8F5-L2YZ<F]`6:I!][PP[
MUX7T736M[_D#]C6NOFUX/7?F]CIK?7V-==Y`G7_#'D'*$CC=,453>,RBQ>5/
M!RV(:]3R_)#(9BQ<6ZTK;C?_``NQF9-K2^.<`7R^0V%7%D35]BS*2IB\^>)D
M4>N=4:-U<431^1NXD<\`4="6K4(8H_<Y#=:=5W@\-?+6P'EMNMSDO$F64B@Y
M4H].#"@;(49*;800&R7B%-S63-PJ%2^9/*MSG,=;@+PFOA5OUS8;Y8T;B$F3
M.[[4T^-J^P6SQ-T0*H[.BH?%[`$P&`=4"'3B<*&32+R(M8SB<6PUM>$QI2X8
M@G@)Y(\+6OI"\^^G\@>_<]P/FUY_9WYO9\_FWT@A!P(Y2/-D3NPG!!!FM]L1
M]N,O<C4V:\&/T/U9W9G<3>,K=.BE[3&S%CJ[-%]\=I$L6%ICT#R&-REGFS<N
M$])U["G^`MX6\W[4EL+F5DQMI:P,IT\G1T,4<JK,2,8;!<."-$5+!4+LZUH6
MPNQ2%HY3U5(K`6/T>$<O;B91_"(T$#FBEQ2X$VTBMZNHE8E<51(I*0US^W$D
MV6UU'3D#N,Z3$5RV-SS,]I5R=O.:4AC&UNJ!<:G<W!"H5IS]C;R5G<J-%?"M
M'D!55-O,*CD_D*YMD%C&2(F$,35$IK+WB2FQ)K`]R,IL;87&Y&L-,:&<S3FL
M`824("`!RH&ADD'B+A(K/BWS5HM\BW(660!BDB.@)IS&NF'T^JO!&>-'';7X
M?TK&(E4L=D9L><FB,E*KRB-G#>%.T[NW-`7_`',UKM,W9\>G%7(KROI.SKNG
M_$^4QZ,20N+0%;<CY9>HI<)E5V+'MS^BW^`QM!&7M@/+"[KB)%(M"=1%2)O:
MD13<6Z%"?=E$-YH9SQ25Q^;QJ/S"+.13Q&Y0S-S^Q.J<M260O:75(4N0J@EJ
MB$Z@C9J<\L0TZLA.J3F>&0I()4%&E`^_X8?-_*\__(/S=/=^A\W]O3((7KA+
MS1?;/L^V8P\?P93Z<N;JAK^1J+\F<F;ZGBKIV;KMQ^(1.$?;RFQE?`)N5Z2!
MV@]Z9H^F/<#(Z98B'6I*E0,Y^.]F\2+@JBGG&]+@3S^HXO6W&[F0\KHT@YAS
MVQUU9<CK+4\>FJC9+!W2&02',)$<:'J"60\MP$==N22'F68=)%;`Z2>53-*R
MA9F\+7N"\^M[_DB^E[OF\V_<UOS[^EUSC&WKHJ^A8@7/K@F33`869)X=#A2=
M^\;*9DLBL"3M<+AZ!P7)DJDIL"^RI[:&)(N<=I6T#BY(R%2Q/XP6+<$D48I$
M_+:BKMOETRJJ_)SR2Y`1`Z"#GTAE%7.W&>W(4Q+;R0TLO94[0GAK;2T?-:)/
M0R&P$33*(E.6B5-,=;ED=G+DO.DDG\*DG,KB+#XC.Z6;XZBG,YBS19]2K+";
MI(D259&;/4L<K&WS1(B:BWDYV@;,)_C>@HV=Z(6.;:E7::'E"J.3!ETLN2LD
M%ML5$*9>V:MV20.16>T0,H*Q2^GU]%'QFC+]+SRTJ0Y,W,2&12!G9-+G-2C`
MK=5Y*%!I4H":67R+I6FV<)-HXO:D)(5`D^A=5`2!F#*"=LC_`,718C2QEA'L
M&@B&`0-;V((M:@.7\$^>C9&@N"*?1.9WZ/BA9E(/UTJ+!=XP*9_.]<O',RG8
M2H4F1Q[?HGJRZ$HR9_PH3]N;7I-$[NO"625FAK^QFG$)/:BX.<F(XUEJ8]43
M.^-]@UE242FL7L/E.]R6=UXTQCE5=-K3"OVZ1HX,RPJ>L+3";>8@QJ&.*5+3
M;,TPI=7((C+XRRQ%O?PFLCUN5Y*K&L:I6&2$N%AU,WP1UL",@0.Y"J/-MF(G
MQP@ZXU4K;T[:X)I`FC+^).:T+G$*<UJ6)E^TBHON=^-G7!6U-M3:]67+6V)M
M[PX+6MJ,7!6J#W):UQM_F;P6A0MJ1<O5%L<.BLGES\I)2C2L<6CKY(G<Y$SM
M2Y81`@W\`N?(*_2+7-W;QW2/CWV?->NLB4V>AG#'-;7XQ4ER5@EF.5W))"W,
M#U857S*:VO%G=6\QV61&X8ZX:#<T"<!6+7;'&)3EQVB?&/F/R5G50HZF'58(
M-6S$DM.OE\J?%R1GAO+J(R0`$"Z[8V2U[?;8XR6/3+Q/:8ET$BCHA?3V^<21
M:Z-*M6=&9!#PE2F5@0BO(:]6).99'HG!8ZU#>WR6O[LC;(^V-(-`WX^K=%1I
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M`7;7,-MJKI&FE]>6"P()1#Y,A2N25*]L+H7LQ"X)TKHB0.1!9X`B%HI:A2J0
M=.AI!>_-G(.A:WO>O/YOI["+6O[!;UK6_P"S>\K.Q'LU^:574#6U2QQF3.T:
M;(!QV9+QK>+\FW>!JK0EL?AO)Z#63)X).GR&SEN@SI$7&Q:#G#'X47;T<H25
M=W+>.*RB$P12ME7X2<5YE1<RY-3FT%+P^2NR;:3&0&1/%M3:SE>Z8::IJ./M
M;2X#E"XM,A=S+(B]B2MP/*8DK@[&RG;ZX*@.#RZ-:`,[12N+A<O(XI&PA=_&
M`I/)>WANTX^-#Z;`F\1VI\:\8%H0=A([KO1:%KH#?76;5B-NUY.IC9T`BLC*
M=I?3;VPQVRV,#>\)544>9/&D,QCZ%:8O;4B528[15S;)`C&V*%Y!C4Y-ZS9H
M2ER79O!"GC<^'W;JTPR1CTWZF:.3;:A-JS;AW"8"<.TNE7>Z(\8%LG>PF[!W
M8>NNNM],CYO3@??UI7Q>,J+9D8ZRL[D^BM(]O;K@?X4NE-<,?9@3CBBVL\@2
MQ8]L.&JWR+50&;H6A:O5HD4=CQ4G$I(D"(EA-";\"I.88>46<68:F$6!046+
M1AI`S2PG%A.+!X0RA&%"":#0PAV(L01ZUL(@[W[/##Y_Y7F_Y!_8ZZ^A\^O=
MWKKK6O/O?3*\LYX*<X7)@<$.FEIDB*?R>D7ZZ4T8Y,NU965/59'!VM..$B?R
M+(45E+`M<EI&ZH$YVTTO&BSW69HI<7,XVXL%F0ME0N/YYMV<O+8UWF;T@5OT
MN;+)Y.7:LFK,W<M)U`YP.EY@PPU%0-BQRQ7F+SHF/R"BI4BG\A619BCS!)@B
MGJJ:PV3AFC"WLCB%AXU4G(V4$XXLG9YP4Y&C1Z+V>>,(Q@))\/8>]-$`LP82
MR_"%L(!BUKP0"WK'N=\LN/58V)JK+!LQHATQ"G@"I0FD+?(6UE;R+6DCG#*T
M-=IBH90PMG!/9DS.4/B6W61(O+TM2CC3=H][$4A,C?B_#GE(W7FWSI]2Q^=0
MB*\RX;=S`FL6>D'3Y)&U49Y406>GMTVCS,H33:'QQ#<%:R^JVB>P^-VBRHFN
M24S(91*8C`*OE2S<?,[A?>5^<A9':$6:8Z^P6,0+B4K:*MF=A'M%9<CWZ@[X
MN"U995-P1QLCK@Y-+*8CGT4DE63'2UV:6RU8:W'3B&R"#EN+,_A,":I3D`[P
M\XLDOO22=#-%HL&SE!P$Y!6AC\$(C#E!A9!0-;V(PXPLD&MF#"'?M\/7GU]%
MUUOIOZ$7W]>;SZ_XZZZU]/>0)2/AQS1F-]VC8[I`865!G>P*IGS3!G*_7MY8
MIB^TWV@4+OB.R980[,$@7,\F<N,)L@KX/E`]:Q1=]9UE8Q!GCM4EQ9<OV0DX
M(<\=UO.RW1Y==WJHLEG4&2TWD*7/J3NM5%FVX?(=HS2CGJ%04<4A<R_A!CK+
M8+6QSE/?D$7L<;EM9S5^.H6LFV8A/!85P5+4A34?:EH5W6A+Z<K3LAU@3>,0
MPIX4("R3EQ#49)'1L`XG(RE!!JHI&(X:<L\D9P0!,!L6SI?R9HZ%,%;RETL!
MM<H[<#X*-5<\0Q`_6,@GK[IA>Y1IMBRBNVF5`=U`X]&I"\E>*[&6<W,;LI*,
M&6WJME1?]L9V6]B]IK%^.C1$;/KRLEU-O\[?7LR91R02A(["F+#&6L"=FVU*
M$)Z?2)0R*###EP-B4$')]:`6:$S-UQC@K;E4<4^S<XW-*HF?&<5+,8WFUI;7
MD^>:6<3XNSU#>D&&O@"P!GEP3@J?[08A&LAKRR%J6%"_`/>0C,2H5P2OPB<Q
M>QHLSS.'.?EB./J<U0W+O$7)O-'I.K4H%9"MN=D:!T;%R)>C5H%[:YH4;@A7
M)5"-8E(4DF%!_<]29J8%$?2N7E/O9.^EQQJV@87YX)TYFM;J\@VZJ6=M7IH^
MV:0LJ[PWU_-;&(I;XDUFN0'-T:T:R"ZZ()R5@MN\<Y#8[5X%3/EM<'JDA*\R
MZGE^G53Z12^P*_L6#2XEO9F]+:2Z]$+_``J4S.;EJT*5V5`<&"3)E14"A[F_
M_DA?#3GO)6FGFFS52%C2LIO&5HM-/_#_`"68MTL05EP\Y.\;+@?ER?;:B$\I
MI_.9O3]BDLZ\L]1)$+=MXE&F^;11&G5!.RAE3,Y/CA'D1JX]>VL<?D9YVF9Z
M`S'-4G4/B9H-;9(8W@CCRJ,,CSD-<V,[JN=&9-MM6/*)O2/C&>X[@\+7_-O[
M`1;U]_6NGV?<^GE>J5<(^=^X9%&]F:6@Z*-''/@C55AT+&>1RV+)ITOI",\H
MHE="*#SAYKY_C<26[<K1I"Q&AY<X0G36,HJP]CD1D?<FV,R#>[7SA?S]8)K(
MC:G?*XE$?5M%>MQBCE-;MKS1R`IB=?1V)F*X+:M3JX):4F9G8UH/7R.,7A'E
2A\=F1CW+X)*%Z&S)!'(@'__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>22
<FILENAME>g528586.jpg
<DESCRIPTION>G528586.JPG
<TEXT>
begin 644 g528586.jpg
M_]C_X``02D9)1@`!`0$!KP&O``#__@`_1$E32S$P.#I;,3-:1$DQ+C$S6D1)
M,38W,#$N3U544%5473(V.#8W7S%?1TQ/0E]&3U)%7TM?0D%2+D504__;`$,`
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`?_```L(`(("-0$!$0#_Q``?``$```8#`0$`
M`````````````@<("0H+`04&`P3_Q`!A$```!@(!`0,##`L)"@L)```!`@,$
M!08`!P@1"1(A$S'6"A05%QI!45AR>):7%B(R.%9A<;&SMK<8&2,W.4F1DM(D
M4W:!B).RR-'4)C9"0U)76968U?`E-$=BA:'!X?'_V@`(`0$``#\`S^,8QC&,
M8QC&,8QC&,8QC&,8QC&,8QC..\'01ZAT#J`^_P"(#TZ>'O\`7PZ>?KX>?."F
M`WFZ_C`2B40_*!@`?'WAZ>/O9XEYL[6\?>(S63^_TIELB:CUI:&U^[M4"VNT
MM%-T7KEQ*1E46?DGW\<@WCI!=9ZTCUFR:+%ZL=0$FC@Z4JXGESQHG=YR/&F'
MW;KN1WI%$L'KS6C6PME+&#VHQ5:G[="-TP`&+ZS5&O7.H6*V51@]=6>L5ZTU
MV=GHB/B9F/>+^\UQN*A[9D-F,*)*.)HNI=D2VI;A(ECGK6(3OE>AX&7LL+#2
M;I%)K8`K1["T@9]_#F=1T7;&4[57#H)VO3+)E-#&,8QC&,8QC.!$`'H(@`_`
M(AUP(@'P_P"(!'\P#G03-LJ]=3%6?L<#!I``"968F(V+3*404'J8[YRW*`=$
ME1ZB/F34_P"@;I)Z9Y6\:X(XHO\`>>KCN0$2^LXZY0TT^[X*))]P&,(YD79C
M]]9,.X5`3"!P,`=WJ(>;'E_IR03$*LWVA?SF()BHTG2FV)\BI#)&4`2/`J#:
M,,4Y"JAU%Z!1,FH01`Q>@T-VW9%FXSP9K7H&@[VI%!3F$6GM2;IJE<)JV0E)
MR0<$)':[3DKRWW!7)^5>G7=,H"L,K+'.SN!6)6$4TEC%NFZPLMGN-`JUHN=)
M>ZYL\U%D>R])D9!M*/:^X.JJ4C5R]:II)G45;D1=BBHB@[:`X!F^01>H.$B=
MY9K95J7%GG+A9(&JPJ:[9JI+V29C8*+3=/5BMV;8\C*NFC,CAVX.1!JB98%7
M"QRI(E.<>F>9LNX-44R9KE<MVS=?5:P7`&PU.#L=UK$%,68'CQ".:#7HN5E6
MCZ;!U(.FS%O[%MW?EWCA!JEWUUDTS=S8[]1Z?(5F)M=QJM9E+I+!`T^-L%BA
MH1_:IP0(8(:MLI1ZT<STKW5"&]C8E)X][IR#Y#H<O7UN,8QC&,8QC&,8QC&,
M8QC&,8QC&,8QC)3;<WOIO0T1$SFY-F4K6T=89IM6JT>W6!A$.K397O46=:JL
M8NK[*6BQ.B`=5O!5YC)RRJ":JY68HI**%_!J#D5H_?H7#VF=GU#9(Z^G&-6O
M05*4)*#3[5(0[*P(U6R`F0HP]G1AI*/D)"NOP0FHI!\S]E&+([E$A^=&\@]/
M\D:E-WC2UWB;W6JWL38VJ9V0B3*?^R[[JFX2E'NU?>(+D270<QL[$KF;*G3!
MM*Q#F+GHQ9U#RL>]<48ZG[1)_P`IVNZ+;PRT%/\`(#4VE=@634ZFSWNR*/JR
M&W+L:C'8DO4#H!I9TY$]QB*VZ?$@27R]/-74"Q6=)9G6K)*03=U9F]-')/M5
M-W:F?=EO#0/'&!JC[M++=%ZK=!N&RW".L'&?;4K#13L*G>:/"U:.6N9F$S,#
M!.SQUIJOE7D%+J-%5(U9A)G[7B)VK-RO-Y[4/5?*O4\)39?LNWR,KL+:VAU;
MCL/6.R**[IEIOHJ5F&D8Q2TQFQ8.NU=56>UZ5_8'Q'CTC%NZ*NS7!6ZCJ7;=
M<Y):$U]NO4DK,1E6W7K*N[`U]-6*JO(J;CX:\P#:8KTG*5&?(U<-W[1L_;NE
MHE__``*BJ8)BJX:*$56L<]E+>.0_./BIVC''WD?RAVXZVYJ?M'.3?&&R[FI3
MRMZ_VA':TJ<K0W#>*UX[J+)&&U<>;@E;!7H27JS$7%-2EI&0J3AO,,(Z19^^
M[%?5%XT"GS]BE]X[0V'P[_=6W-GPH-O?8$G=[0UUIK.'9UO<]PK=PM<@]EY;
M4[C;[N1JE8F5GI8F6&DO+PV!1*Z%FIRP)V@-IW37KEVX=YC36DF^.)/:F]D_
MRFTI))K/@L*5:NL*EI+4I:T[Z)(HUU]7)YS5&(-?9-B[;STM`R$</KUVHI>H
MY!=G-7^*F_T>:NL]ESUEVQ<N9.ZMR\4N.TQ$-D6COG-SQT?3..-M&T;`93!G
M<YI2DUVB2N[IZKM*U#O8*IU&XKR=EF(&)28..@TUR]Y#<9.>5"[."ET&'FM2
M43D1K[1LE%2U/M"^X-IZTV]Q3O')78_/I]L'V;7BWA)+DI#W9KL59G`2-3!]
M-O:[*2$+=%FCP^2\41,4HB'=$2@(E'S@(AU$!Z^/@/AD6,9P(@'G$`_*/3'4
M.G7S_DZC^;KGY'D@PCT1</WC5B@7IWEGCA%JD7KUZ=Y1P=,@=>@].H^/0?@'
MI*:<Y%:#K7E"SVZ=5Q2J?@=N\O\`5B.P'JD42@T+*'<F,`K)")2I"8`4*80[
MH]<\"/,OCRX[Y(.Y2UQ7*03$;T37^Q;L=80(J<"I*5JIR+8XB""H=17*4#)F
M(8Q3!TSG]TXH^.*=:X^\EK()C"1)<=7DIS,XB<Y$SBXV)/U$2)'$"'\H9'H1
M%4JIB@!%"DX#;G(F2[AH/BI(L$E>X*:M^W'KRNF*0P-S=5FE6+?729^ZJN`I
M]TQBG;B4W03@`0F>\SI4`.W@>-M*(<I@[DA8MF;`=)&[JH%,9./@:(U4_A"I
M&$A7704E#`)P.GW3Q'UWRFES>5E.1M,K93F$3M*+HM@)DB>45'R:,A=[O:3&
M,*1R%!16/'NJ(D4$ARF5(IR;CM<97HI:N4?(245'NBHE`2FOZ$S'H#8P@1*H
MT%B\3**B!Q`"R(F!-=1(3&`1,;@>(&H'Y1^RIUM2]J&``4/==V[9FTE?X(Z)
MO*,?LO:QI@.D8"&(#($Q!-,0(42]1]!#<4.-4"H"[#1FL#N0$3`\DJ?$3CWO
M&5,L)_7DXWDG0F\H<YN\*PF#OF`!`HB&3AA:A5*VF"5>K-?@DBE[A4H:%C(I
M,A0*0@%*1@U;E*4")ID``#H!4R%\Q"@'H>GGZ"/7\8B(?T"/3)%16B8<VTY3
M;]WG)+8%J0=.4==MYQ!NA7]45UPDDDI&4R#;"9FE-OQ(<TY<W@+6*43,FS3<
M,&"0M%9[>;S982[=.E.9NG\=[[0-SQ6IN0>H;A9;GIF#VU5CVCBSNTSR;U76
M;MIC>I%&YD8=>SQ,Q&OZI-1+I&\-X"(V.WJ#22]<S""=OM.E6#;/)C@UR/H]
M=T1&<D=;ZF[/C[,NRBY"<,:I8K-H/3]LFX<U@LG%3E/L2D,-@Z]GM'IV^T;'
M?K4>5-`TZ1J[&$V0VA['%,(=Y.[M4=K<<.T/XXQ#;B[&T/9/*ZO6F@[@U-K#
M=?'S<%/VEO2D<<>6JE<M^I-%;"FHVAVG6=BL^RZ/(Q]FG*&^=6$*5Y-S;V-9
MHUC97F'R?T1,*91.0"','>.0#=\"G-]L<H'[I>^4IQ$I3]TH'``,```@&?3&
M,8QC&,8QC&,8QC&,8QC&,8QC&,8S%YG+Q8J[ZJHJ<3R16"/UW8^SJL57X#.K
M``HUMQ?Y&P4V8W&VI+ET="-3VG*MHC8T9/A%^7L;JH(UR+=F+'/XE!6\!REW
MQHGCE1.4VP:=:-6UKD$O`:OJ,XN[M%?KSQ;;6R4G^M>,C78<E(*J1\6]=R\D
M@+1S,-U9=&D11Y)RT<U^+C>[C_<3*%L[LF>TWNW&E>@V1/L_.T\H;B_5Y33\
M[=N049QAY"Q#!E0Y*]7&SQ.N81>FUS=@OVCUU/2<"%80=V:CI%M#F(US8732
M<_9CZGY<]FGP'Y/=GG?*;OZJ[FT;<-VW/B7R$TGHB0WUK;>%4OAW5CUNZA9"
M,H6QJM&V)QL`CYA?]?;4CJ;8(>"F&CI"6C(\BT_%>(Y*<*.TXYE\!NR,D=]:
MMD-M<Y=)<SZ'R>Y0Q5RL?'^D04/KRNV&X-IVHN585W"TQ%Y,4U:@MV-4IC*0
M.*B$RYL0%EV0D/7#P0[.;F%V<N^.1NNN.5ZU;-]G!R`5M6WM<4/;]BM<COSB
M?O\`N<7)+2$=7FD97[!6MO:M/,-X-K-L[)LZ)L3J/1BWK69>S<-8Y2_W<N+M
M:Y%5+CQK"L<J=BTC:?(N(JPLMG[%U_535.D66S`]?F1D82KD:PGK%FC&J1C1
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M9&,=%,1(=9%,3$%3R8B'E95WP_\`!35O(>ZIF4\F1Q!Z/N\8R4ZG(0IRR%T9
MU-EY(P*IJ^4,N!01."IA*0IQ+P;>&Y94@*U;B;LXZ9^Z)%+S=M34<H@9)%3^
M%;I6^S2:0@)U2"48\3`=(`,!>_\`:<&LO,&;*)HW5>BJ47H(`:U;8M]L<E'H
MX*4YF=6UW%MCAWRMU#)!*EZIJ'("H'+WB\_8IR\F_&2W!I:F$'IU1J6G;)9'
M!`!4!$A7]LV.W0.84C&)Y4T04.^FDH"(`=0N`T5MR5`"VKECMI4G=[IT:55=
M2T9$1[B'4Q%4Z3.R1`%9$R@`,B8P$541[_=,)A!Q/IC[J%LV+R`NZ9NOE$+#
MO78;5FMWB+IG!2/JDO66`%.FN*9B$;$()$TOM0$IA/\`M8<.^,S%P5VIIRHS
M;HIQ4]<6U%_=5S*"J"PG.K;W\V8YA5ZGZG[WVQU/>44`TUX#5.L*IW0J^N:)
M7`(4I2A!5"NQ/=`@$*4`%A&H&^U*FF4/'P`A/^B'3WH$*```!W0#S`41*`=?
M/X`(!^/S>?Q\^<B`#YP`?R@`YSC&,8QC_P!?T^;*4)CGEP>KTO*P$_S)XJ0D
M[!2;^%FX67Y$Z?C):'F(IVM'RD5*QKVY(/(^2C7[=PR?L':*+IF[06;.$DUD
MCD+UW[X3P(^.[Q#_`/$MI;TWSXK]H#P!<D\FXYK\/UD^\0_DU>2FE#D[Z2A%
M4CB0UV$HG253352,(=Y-4A%$Q*<I3!]/WP?@-UZ_NW>(GO>`\F-+B'A[_0;Q
MTZ^_UZ>?[;S^./WP;@-\=WB*/XAY,:8$//U\0&\=!#X0'P$/`?#PR+]\)X$?
M'=XA_P#B6TMZ;X_?">!`^;FYQ#_\2VEO3?*H*K;*M>JW!W*DV2`N%1LT8TFZ
MW::M,QUAKE@AI!(J["6A)R(<O(N6C'J!BK-'[!TX:.4C%415.00'/08QC&,8
MQC&,8QC&,8QC&,8QC&,8SCO%Z].H=?@ZAUR3FY>/6A>1,-%5W?>F-7[G@X&5
M3GH"+VA0:U>F<!/(E*5&=@4[)%R/L)-H%*4J$O%&9R"0%*!'(`4H!UL-2^-N
MD:JSIL%6M+ZKI<5).)QE7&,91Z=7F4PY9':O)I.-!)@R3E73!8Z#R6%+V0<M
M%3IKNE$#B4>HE>6/&.!$K5;=^M5U42%3(PK]G8V%V4J?E4P22CJP>4<',06Y
MTBHIH"8#$*F4H"9,INI#ESJF0#_@E"[>OIS]T!&F:.VK*-SE,9N4IO9!W5(V
M,,D)'*2@*>O13%(W?`W0.F`Y"7N52#[$N*V_)$XE'R9K*CK;7[4?X+R@`<;-
M?TI!+Q*9,0-&=04`H`!@.4<?9[RMF/X.)X^Z\J_>,(`ZO6\_7)TP$7!"'4CZ
M10)\IA+W6RQTTY0>I%#I$4[Y>^46-YE2P]UU:^.=*2.)!-[%T[8]]=HE!1$3
M%(YE+726:QA(*Y!.:/(`F*D<"E`YP3X#3_(*2^UGN5T^T1.7NJHT+4FM*S_S
M90,*+FQM+T]1$52@H4P+")2F43\0,4Q(C<7F[\YC63?'):S$4$WEFZVW'M69
MJE,*_>3%KKZ*IZ94S)N#)&*F)`$B:0AT,0!R(G#7CHHJ5Q+T%>V.`,!SK7JY
M7R]"L?OIJF,LG;+/+-U!.JD54Q3("03F4^T`JIRFF%`\?M%5<$_L<TUJV$.F
M0I"K1M!JS9QW2%`@=YR2*]<''N`!1,=4QA```1'H&35;,FC)(J#-L@T1+U[J
M35%-LF7J83CW4T"ID#J8QC#T`.IA$1\1$1_1T#IT$.H?C\?S]<Y``#S``?D\
M,\5LG8M*U!KR][7V386-2UYK*G6;8%[M,GY?V.K=/IT*]L-EG7P-D7#D6D3#
M1[Q\N5LW7<'30,1!%98Q$S2#U;S/TKM*A;`V:DYME$I&M(-S;;-8MFU&3ID*
M6D-G%J:FNL5-NO74)-5\%Z39T78QLDXEX5S&&86&)B)%RS:..I/SRXV-N%L7
MS]D[D]AN-,UK"N;;BK9+P$HSEWM5N2D<UIR2-7%)28^R"U2<S"PT'7SHED74
MQ+Q\<HF@NL<$II:"Y%:SY(5^ZS>N)%VLYUEM78&C]F5V6:HL[!0=LZOEPA[I
M2+$W:.Y&."2C%5F+]N[B925AI>%E8F:AY-]'2#=<T]<8QC&,8QC(%/N0^6G^
MD+FC,[0@XASWYN``%^^\Y+><A!'^.J[^^)1$?\8Y2!Y0WP$_S:?]G'E#?`3_
M`#:?]G'E#?`3_-I_V<>4-\!/\VG_`&<>4-\!/\VG_9R(BAN^7P)]T7_FT_A#
M_P"7-UAV*'\DEV<_S/M&_J6PRZ'C&,8QC&,8QC&,8QC&,9P(@'G$`_*(!@1`
M/'Q'\@"/Y@'.OD9B*B$#.963CXQN0#"9>1>MF*)0(05#"95TJBF`%(4QS")@
M`"@)AZ%`1"44YR6X]5OOEF]W:J8+)F$IVA[[65GP'`QR"0K%K)+O#G!1,Z?<
M(@8WE`[G3OB`#XH.9&@W?4M>L5HNJW4@$1H>L-GW(%`/Y`0,FY@:>[8F)W'*
M2@']=`02"82B82B&<?NF))^!BUGCAR5L!Q*?R1W6OHFDM3G`BABE.ML&UU=9
M(HF2,F)S-3`4YD_`05()HAVIR2D3=V%XN)1::AA*FYON[*5#^3*8YR$46:4Z
M,OBX=TGDEU$B*"<"&42*852%[_5J3W+A[*,HA1;BS1923:K/F<(]GMC7Z?6:
M-#LBO7#9@DVU\#Y!F=P9%VX;%.W;J*M3**E!3Q^;"H\AK4XDFX\LJ6T=1+D6
M$Y':TTU4SN85^*)P%B\6MMONZ[%X3H1P5"08IN`Z*E,B*8D[D1-'.9V9>PD_
MRQWS/S[!%%[*0$'=Z%25VC-VHHHU5<Q%$IL-,1[1RFL*2*RBZ1%R`D9NKWTT
MC$[;]Q[I5YT/9D-AWI?O=XZMYW%M>SD5-_<YC"JR?7$(TX'5;$6,06()BH)^
MA`(;N!Z:#XL<;JZ(&BM%ZK36*4I0=.J1`R;SH4IR!U>RK)\[,/<.8@B983&*
M(%,(@4O2<,36Z]`)^1@X*'AD@`0!**BV$:F`"?OCT(R;H%#J?[8>@>)OMAZC
MXYW0``=?/X_"(C^<1QT`/,`!_B#.<8QC&,8R6&[(F8GM/;3@Z_1J;L^:F=>W
M&*CM:[#72:T/8;F1@'[0M&N+IPQDVS:LVT%C0$TN[C9!HBPD%U7;%TW(J@IC
MK<=.RKYNT76.^]1Z9WY8.(7&%SML-C\:N+^Z:W2>6)=:@BYWHC8==1AAV+[$
MU;3SEY8=,7G7K!;8%T?1^Q:A.7!]%M&SY!*5^$AV=7/Z]]D5KKLI;K5-6$^P
M[A3I">#D`78<8Q(ER<T;R7I6R:KQ@4U[$QLL9Q2D=94IE!.=_I3A6TK,@G(.
MZRV5<NDD+JO9K\4[]QIC.9UOV0DE$V#F!SYY#<OF-,]?Q4I):_J6RR4^M4RI
M660@'DM7G-M2KM%93-F)79VP04=*S*L3&3LNA'C(.;E6,8QC&,8QD"GW(?+3
M_2%S1E=H3]_OS=^=YR6_;5=\H_QC&,B)]V7Y1?SAFZS[%#^22[.?YGVC?U+8
M9=#QC&,8QC&,8QC.`$!\0$!_)X_FZY\EG"#=,ZRZJ:"*13'456.5%,A2@)C&
M.HH)2%*4H"(F$P```(B/0!');3N[-.5<RA;+M?6]?.D)BJ)S-YK$<J4Q3^3,
M44G4HDKW@4_@Q+W.]Y3[3IWO#)8+<R^-)5!1C]I1EE5#H()4F&M-[5,`D3/U
M(6G0,WW@[BI#=2B(=WO^/5-0"_$W*B%>>-7TWR0N!#=\$UHS2EG@6BAR>N`[
MI7M\&H-0`3MS)]\R@$*=1+O&`#]0C/NC>,GW3UKB?>R('/T(XO>QM54XH$%0
MI045:QEBN,DET2."QDQ9"H`%53`#JD`IH!GN8TT4%6&N=`4@ABAT3L>R[S<W
M:1A(B80.WKE"KS(_=-ZX3$"273J*1RF,!3`<-+Y;S0":3WCJ6G@8`_@:9I*5
MF%T^I%TQ[C^Y[(=(F.41;K%.I$B45"J$,CY(0*:,-"[.E3=ZU\K-T.RB/46M
M1B=5T-KT!7OE(52,H;^4(3NF.D(A*"J8@D$50,D'6$O$K7[T`"V77>U[``Z&
M):=[[.,U4ZD0*85(^`L$!&]#G;IK&3(T(EY7O"!`(/<#L8SA]QCBU@7+I.AR
MBX!T\O9HDUO<"'=6+]LO:UYI4X]U=0H"8PB!1*7KT33`DWH'6^O:KW?L8HE-
MK@%$#%""J\%$=TQ3`8#!['L&X@8#`!@$/$!`!`0$.N>R`H!T`.H``=``!$``
M`\P``#T``\P=`\`\,Y$`$>H@`C\(@'7`^8?R#YO/_BS%GY5R#W2W;$53:])=
MUOE?3]M;4U#KS?G&&WQ16N^N)=QK[;C0QJO)/C#-,6I[7*:W8T]]6=AW6KF9
MJ59I$PF_)F-L#9S/W4(7]/&;;W%CBGS7YO<]:>YT./9S;=XB\7[2SY&\:J7L
M)1I4+O'[MFM7-=<;OHE+);'^PN06Q;5L1W9[)=GM:1V1&PD$R:7>$K76:=RT
MWZ1`ZLN_;::8Y+<4830NT-?R&G>9O'KD[:=815DJ^^=,;JJ]NJ<_,V'D])GD
MTW=^CYVQUV+U?JN"V'"1CBLH2KZ2I:,[7D8.8B,C'&,8QC&,8QED#MD.VYU=
MV.G[GSVR-);`W%^Z"':`1'V#62L5_P"Q_P!K$*(+[V3^R-)7UU[*?9TT]:>M
M>X"/K%P"PF%5$,L@^[<>+OQ)=_\`UD:P_P!VQ[MQXN_$EW_]9&L/]VQ[MQXN
M_$EW_P#61K#_`';'NW'B[\27?_UD:P_W;'NW'B[\27?_`-9&L/\`=L>[<>+O
MQ)=__61K#_=LO"]C[V^.I>U]V5N'6^NM!['U`[U!1:]>)"3N]IJD^VF&U@LB
MU<38,D*Z@DJW7;+)`Y457.=,Z1Q(!"&`ICW^,8QC&,8R!3[D/EI_I"YHRNT)
M^_WYN_.\Y+?MJN^4?XQC&1$^[+\HOYPS=9]BA_))=G/\S[1OZEL,NAXQC&,8
MQC&,8'Q`0ZB'4/.'3J'XPZ@(=0_&`A\(#E,)M-[RDW"@SO*RZ-F*BYCE94C6
MNJJL*:'ETU$D`?R\#<7_`'B)%4146!8/+>4`_DR=SN&^(<68MYX6;=?).VD.
M'19!_N>?KS58/)D(8#LZ$A4&X%.9,BHD(0A2J@)B@`'4`_U2X:<;/+>7D=9,
M[.MU$3*7>P6^]F.(BN/\(6X6&;3/_P"\K!]LF/VI^[YBEZ3,@=&Z6JPD-6M2
M:T@#IB0Q58>BU>/6`R8IB4XKMXLBPG`R29N^*@G[Y"G$W?#O9,Q%LW;)$1;H
MI-T4RE(1)`A44R$+X%*0B0$(4H!X`!0``#P`.F?80`?`0`?R^/Y^N<]`#S!T
MQC&,8SXN7+=FW7=NUT6S5JBJX<N7"J:#=NW03,JLNNLJ8B2**29#**JJ'*FF
M0ICG,4I1$/`AMW58@`ALF@B`@`@(72L=!`?$!`?9;Q`0\0'W\>V[JS_K(H/T
MTK'_`)MGXC;*TV>02ECWO6QI1NT<1Z$B:V5(7Z#!VLU<NV2+P9/URDS=.&+)
MPY:IJE;KKM&RRJ9U4$CD^I=I:B*0Z9-@Z[*FHH=50A;A50*HJH?RBBARA*=T
MZBBGVZBA@$YS@!CF$P`.1$VKJ5(ZJJ>P]>D46,4ZRA;C5@.L8I`3*94X2O>4
M,5,H$*8XF,4@`0H@4`#/M[;NK/\`K(H/TTK'_FV1$VUJY0Y$R;&H9SJ'(F0A
M;G63&.<Y@(0A2EE1,8QSF*4I2@)C&$"@`B(!DPL8QC&,8QF`'ZN1_FUO\K3_
M`%>,P`\8QC&9OGJ([[Z/FS\W_7'[4'&;'S&,8QC&,@4^Y#Y:?Z0N:,KM"?O]
M^;OSO.2W[:KOE'^,8QD1/NR_*+^<,W6?8H?R279S_,^T;^I;#+H>,8QC&,8Q
MC)*;QY#ZCXZ0$-8=M6LM>;V::<5RJQC.+F;%9;9/LZ].6U[#UBKUR/E9Z=?,
M*M6K!8Y%-@P53C8*%DY605;,6:JQ9=SO-[C#69#CU$3VST(J8Y47-QKW14,\
MJUY0F;I=&02PR5=7B%:P20J4C$&@9EO-HW=O6C0SV,>,)(&SY$[<.WY%\P./
M?%)A#O\`>-\^Q49ZM[)NL5&1]=M-OL#ND:;JY+KMN[$KE.A9Z<^Q+6U55;3-
MRGQC_8^&1?Q;594TC+1;)Y/RL6:O76MU^XU&;B[+5+9"1-EK-C@WS>3A+!7I
MY@WE86;AY)H=5I(Q4K&NVK^/?-55&[MHX171.9-0HCWF,8QC&,8QE'_:$_>$
M<W?FA\EOQ_\`P6N_O#X9HS#F'J'@7[A/_DE'_FR_"&0=X?@+_4)_9QWA^`O]
M0G]G'>'X"_U"?V<=X?@+_4)_9QWA^`O]0G]G)B:C,/MIZW\"_P#'ZE_\DOX3
MQ/XO_P"^8?#-]@7S#\H_^F;(L8QC&,8S`#]7(_S:W^5I_J\9@!XQC&,S?/41
MWWT?-GYO^N/VH.,V/F,8QC&,9`I]R'RT_P!(7-&5VA/W^_-WYWG);]M5WRC_
M`!C&,B)]V7Y1?SAFZS[%#^22[.?YGVC?U+89=#QC&,8QC&,9::[8/C4QY2\:
MF6OG.D=I;)F(NP2=OUWM'1$_$P^Y^-FV(:IS*6OML4Z.>SU?D[.Q=R3QS2+3
M`PBTPHO#V3RTO77L`A)2<+2+<N-G:"7RC=B6MO:J*[?W?QCYG'W!RQV#5W.M
M:^TB]>L:INNC5V]6.);6:*AY2_2<)<*&_P!A0&KD+8B%N<7![!'E8ANC(/?4
M\]>-6^>>56L\Y#\=MM:&Y1Z<GN9G$GB_;G&WM2/].W_C[R2UQ7-2W??.\DC1
M%J<1VH;5$G:7*%UE7H-UO]K9->1#6%=1+>7DGS.\+QDTA$\9^..@N.<!*.IR
M#T)I?5VF8>;>H@W>S,;K&DPE+:2[QN55<B#N31ABOG"":JB:*C@R1#&*0##/
M'&,8QC&,8RC_`+0G[PCF[\T/DM^Q6[YHRE/N@^0G^C+D&,8QDQ-1?QIZW_P^
MI?ZSQ.;[(OF'Y1_],V18QC&,8QF`'ZN1_FUO\K3_`%>,P`\8QC&9OGJ([[Z/
MFS\W_7'[4'&;'S&,8QC&,@4^Y#Y:?Z0N:,KM"?O]^;OSO.2W[:KOE'^,8QD1
M/NR_*+^<,W6?8H?R279S_,^T;^I;#+H>,8QC&,8R@#DOVIO9\\.MC(ZDY-\K
M-5:9V.XK45<$*C=)&6:2RM9FW4FRBI@B;.'?("S>NH:311-Y?RG?9J]],@=P
M34]_O_/8Y?\`:"\?/^_)_P!&\X'M^.QQ$.@]H+Q[$/@&;GQ#_P"];Q^_\]CB
M/G[07CV/_P!;G_1O'[_QV./G_?!./?7Q'K[-S_G'SC_Q;]_W_ASG]_Y['+_M
M!>/G_?D_Z-X_?^>QR_[07CY_WY/^C>5R\6N9_%WFQ4;#?.*VZJ5N^GU2RC3[
M%8*0Z?.X^)LP1,?.##NE'S"/.#P(F4CWPE3343\BZ3_A._WB%J>QC&,8QC*/
M^T)^\(YN_-#Y+?L5N^:,I3[H/D)_HRY!C&,9,347\:>M_P##ZE_K/$YOLB^8
M?E'_`-,V18QC&,8QF`'ZN1_FUO\`*T_U>,P`\8QC&9OGJ([[Z/FS\W_7'[4'
M&;'S&,8QC&,@4^Y#Y:?Z0N:,KM"?O]^;OSO.2W[:KOE'^,8QD1/NR_*+^<,W
M6?8H?R279S_,^T;^I;#+H>,8QC&,8S5B>K'3G+VM5;[IS%Z\0-*]>Z80Z]+G
MN#IUZ"'FZC_2.8HWEE?[ZI_7-_MQY97^^J?US?[<>65_OJG]<W^W'EE?[ZI_
M7-_MQY97^^J?US?[<>65_OJG]<W^W-EMZB=,8W`KE6)A$PCR_4ZB(B(_Q(ZQ
M#SC^(`#\@9F?8QC&,8QE'_:$_>$<W?FA\EOV*W?-&4I]T'R$_P!&7(,8QC)B
M:B_C3UO_`(?4O]9XG-]D7S#\H_\`IFR+&,8QC&,P`_5R/\VM_E:?ZO&8`>,8
MQC,WSU$=]]'S9^;_`*X_:@XS8^8QC&,8QD"GW(?+3_2%S1E=H3]_OS=^=YR6
M_;5=\H_QC&,B)]V7Y1?SAFZS[%#^22[.?YGVC?U+89=#QC&,8QC&:L+U8]_*
MU5OYH&E?URW!F*)C&,8S9<^HG/O">5?SOU?V):QS,_QC&,8QC*/^T)^\(YN_
M-#Y+?L5N^:,I3[H/D)_HRY!C&,9,347\:>M_\/J7^L\3F^R+YA^4?_3-D6,8
MQC&,9@!^KD?YM;_*T_U>,P`\8QC&9OGJ([[Z/FS\W_7'[4'&;'S&,8QC&,@4
M^Y#Y:?Z0N:,KM"?O]^;OSO.2W[:KOE'^,8QD1/NR_*+^<,W6?8H?R279S_,^
MT;^I;#+H>,8QC&,8S5A>K'OY6JM_-`TK^N6X,Q1,8QC&;+GU$Y]X3RK^=^K^
MQ+6.9G^,8QC&,91_VA/WA'-WYH?);]BMWS1E*?=!\A/]&7(,8QC)B:B_C3UO
M_A]2_P!9XG-]D7S#\H_^F;(L8QC&,8S`#]7(_P`VM_E:?ZO&8`>,8QC,WSU$
M=]]'S9^;_KC]J#C-CYC&,8QC&0*?<A\M/](7-&5VA/W^_-WYWG);]M5WRC_&
M,8R(GW9?E%_.&;K/L4/Y)+LY_F?:-_4MAET/&,8R1/ME[7^+I<OI]J+TSQ[9
M>U_BZ7+Z?:B],\>V7M?XNER^GVHO3/'ME[7^+I<OI]J+TSQ[9>U_BZ7+Z?:B
M],\P[NW4[`CGIVK'-:+Y.:@8ZKUM4H_1NOM6GKVT=@,B68\U4IR\RTC($)3D
M++$A%.$K2S29'-)@]44;NA<,VI`1%6S-[C;[4;\,N,OU@SOHSCW&WVHWX9<9
M?K!G?1G'N-OM1OPRXR_6#.^C./<;?:C?AEQE^L&=]&<>XV^U&_#+C+]8,[Z,
MX]QM]J-^&7&7ZP9WT9S+$[`+LX^7'9$\;MSZ5W/0J]M">V3O(=I1$MJ>_P!4
M/"L(8VO:E4#1TF:Z/ZO($E0D*ZY<@1HS>,C,EVYQ>$<>5;$OS>V7M?XNER^G
MVHO3/'ME[7^+I<OI]J+TSQ[9>U_BZ7+Z?:B],\>V7M?XNER^GVHO3/'ME[7^
M+I<OI]J+TSQ[9>U_BZ7+Z?:B],\>V7M?XNER^GVHO3/'ME[7^+I<OI]J+TSQ
M[9>U_BZ7+Z?:B],\DAR:;[LWEQOY`Z4@M#V"&G-OZ0VSJZ%EYF^ZN&'BY?8%
M`L-2BY&7]86QR_"+9/IANYD3,6KIX5FDN9JU<K@F@IKQ/<;G:D&`HFN/&0#=
MQ,#`&PYXP=XI"E-T,-7()@Z@/01(01#H(E*/@#W&WVHWX9<9?K!G?1G'N-OM
M1OPRXR_6#.^C./<;?:C?AEQE^L&=]&<>XV^U&_#+C+]8,[Z,X]QM]J-^&7&7
MZP9WT9STU*]1\=J!5[A5+(YM?&IRV@+-7YMRW;["FBN%VT3,L9%RDW%6M%2%
M=1!LH1`%#IIF5,0JBJ1!,J39">V5M8!,!>.MS$O>.)1&^ZB*(E$PB7J4+J8"
MCT$.H`8P`/4`,8/$7ME[7^+I<OI]J+TSQ[9>U_BZ7+Z?:B],\>V7M?XNER^G
MVHO3/'ME[7^+I<OI]J+TSQ[9>U_BZ7+Z?:B],\>V7M?XNER^GVHO3/'ME[7^
M+I<OI]J+TSQ[9>U_BZ7+Z?:B],\>V7M?XNER^GVHO3/,:KU0OV27,_MB?W)_
MM)U.EZK_`'/_`+=7V2^VYL"OE]G/;.]K'V)]@?L)6M/>]COL%?\`LE[)>L.G
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M5M8PE`W'6Y@7OIB82WW41C`4IRF-W2C=2`8W0!Z`)R@(]`$Q0\0UXG)KU);V
MF.\N2'('=<%8..\-![?W?MK:,+$36PI(9B+A]@;`L-MBXZ6]CZ^Y8!*,F$PW
M;2!63ITS*\26*V=.4`374DA[C;[4;\,N,OU@SOHSCW&WVHWX9<9?K!G?1G'N
M-OM1OPRXR_6#.^C./<;?:C?AEQE^L&=]&<>XV^U&_#+C+]8,[Z,YR7U&WVHP
M&`1N7&7P$!_C!G?>'_!G,^S@%K[?O$7A/Q8XQ7/2<E:+=H?1FO-666PU2_:U
M&LS,U3H)O$OI&`/-66+EU(ETJAY5F>2BXYZ*9@!=FB<.@U>^V7M?XNER^GVH
MO3/'ME[7^+I<OI]J+TSQ[9>U_BZ7+Z?:B],\>V7M?XNER^GVHO3/.QCM@;*=
MBL#S1-JBP3!(4C+W76#D'`G%4%`(#*UN!(*($3$PJ@0#^6+Y,3"10"SEQC&,
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M;W7H?8-X;*+O&C=:M59Z^1E90CQW'OVD?Y!`1DG;%XUCP=.&JZ1.ZAN1VAK!
M:KS28;;VO']IUJQL4I>X9&U1(.JO&TY^E$W.0EC*N4VZ#&ERZZ$/<W95U&]1
MEUT8JRJ14@LFV/\`OUYOC36V*E-7O76S*9;J?6UCH6*Q1$ZR5BX`Y*[%W`!G
M'"RB`1":U/G(.W-5I(K5!Y5)J(LK11>#DV+]Q[2DW6H[)IU5V%0+)"W*C7FN
MPUNIUMK<BVEZ]9ZO8H]O+05@@I5F=5I)P\Q&.FTA&R#511L\9N$7""ATE"F'
MT^,8QC&,8SS,M<ZE`SU5JTW9H*)LEY=2[&FP,E*LF4O:GD##N+#-M:]'.%DW
M4NXB8)F[F)%%BDNHRC&R[YP5-LD=0OI>H`/01#KX>'4.OB/0/Z1$`#X1'IDO
M]I;7UII&@6?:FW[W5-:ZWI;`DI;;S=IMC7:M6XX[QLP(^FIJ15191S4SUXT:
M@NY5(F*[A%/KWE"@/YJ#N/5VTI784'KR^5FXS&I[B?7^R8R!DT7SZDW0D-&6
M(*W8VR?16-E%8":B)MNW6*'KF)E(^1;G5:.T%3R<HG.GAMM"M[<N&N>4&BKQ
M5M"200^YI^J[-JDY$ZTDSKO&K9G<7L?)+H0RS]W'OF<6"Y^[+O6CAE%&>NTC
M(AZ&;Y=<9*W2Z]L.?WGK.&I=JD+;%P=AD[7&LX]X_P!?*2J.Q&QS+J$69'UT
MK!3:>PS2*+-.A'B)(EP/"&9.`3\7:NT`X34C?D=Q:MG*;1D!R-EIRHUJ-TC)
M;$@$-G/;!?6D:_IL,WJ`.3RZDE9F$Q%/H9H#?RKYG(LG2110<I*&K`QC&,8Q
MC&!$``1$>@!XB(^8`^$<\U7;G4K<M9&]6LL%8EZ=9'M.M:,+*LI-6MVR.91T
MD_K<X1FLJ:+G&<?,13UU%O01>H-))BX41*DZ1,?TG>+Y^\'3S]>H>81$`'_&
M("'Y0$,D/LSE#QXTU,3U>VEN;75$GZOJ6R;YL$%9+/'QTS$:7ILNR@K;M-]%
MJ*&?(4.LRTBS8SUF%`8N)7<$!\X0)WCEAVYREXY:$U,PWONG=^L-6Z;E35TD
M5LN]W*%K5-E%+<V*]K*,;.2;I!H_7G61O7L8@S,NN[9$5>)IBU0763BD.4/'
M:+>ZU8/=UZS2<[AAZU8M8@%PAEDKO7KI*PL#3+!`.F[I5H\@KC8+)7J]4ID5
MTXVS6"<B(&"=2$O(-62O>,M_:/DKKL;7$?M[6CZ^:>KL?;=LU!I=ZXXL.L:U
M+!*'C)S8,6C(G<TR-?I0DNX:NK&2-(LUC7KLO]S-U%@_?JK<^JMWP3RS:DOU
M8V!!QTBC$R,C6)1"21CY)U"0]G9,WY""5=DO(UBQ5ZS1A'2*/LG6Y^$GX\7,
M1+Q[US,[&,8QC&,9Y^UVNL42M3MSNE@AJI4JO%/9RQV6PR+2(@X*&C4#N9"5
MEI1\J@SCX]DW3.NZ=NEDD$$B&44.4H".=^(@'3J(!U\`ZCYQ^`,X$Q0Z=3%#
MJ(`'B'B(CT#I\/41``_'E/=0Y9<:K]:J?2:5O'6=JM6P/;6"D0D!:XV3>VM7
M1EF^P[<;>!*U442DW6LK.*<+=VC551U77RS=*111*Y;G5C6Y8<9V_(-MQ/7W
MSJ=+DN\KXVEKHD]ZKX;47@`C5IH9-*E>O?9LZ'L(W7FP(#7UP,*BI+E0&-*+
MK/O6N4W'"X1^P)>N;QU9*0^JF9)38TRC>*^E#4V%4D;#$(V&?EW3YO&L*TO+
M5&V13:S*.AK[J3JUCCVTFJ\@Y1%KY"[<YN'&M]=:KV[?>3VC*?J_>"D834&P
M+%LJKQ51V2G,$:J1KNFSSN0383T:[3?L%"2K%96,(G(1YUGB1'S0RU513`8`
M,40$!`!`0$!`0$.H"`AX"`AX@(>`AXAX9SC&,8QC&,H*YY5:P[THT1Q"AZ=+
MV&M\EFMNJ>X95REL.N45AI1C7'7V;UB;VM1JU8TJ/9-C+2$14Z\SD44%)Z$7
MN)6JA3,@\ICUU/:_,W1G`[LZN->_C\E]1[)XX]KMQVX(7/8-0C=OZ_\`W5?$
M)%WLB$J=IHCF*19VG8M(N^KXJ`@7R$:W6N*4M42RS&.A[`\A55?>:QU;VE&Y
M+!V:.IMM;)[0O66D[I(=JE`;EV)3[9M"B;;B-"?9'$K=GL[Y&7HT;('J>X'4
M&U>>P,]:T&VQB1@M&=S=H3DA.HN?:Z_UKRKFN2?'N1O^MN1<Y6-8]OIS,OM7
ML-UH6QY,E9XGS/%/8M"U3?7=BEH95PEK&6M]I0A*]:YMZ9HY<R)^K[UJW6.W
MK`[1!W7]A\R>$VF)GA?R\V?4M8<C-&<MIS>&A^/IINA&W=1)&2IFC*K?-QRL
MU6(FNTK7JDZ[VMN*Q$-8"QU6JM8HK5$QK)8TX>T*'9Q<W+;5]HZ,BJ1<D[_1
M.)_J@/6MEM<Q[)P%0VA;N<G(&)MW&:&KU\F3L("WI[JK2PW5=PA)OFM/18.V
M6R!K5F;!$#.6F\3.T&FZ5VB]RT[IVI2NKN2E<XJ4N6U%R,L6VM)6.]P''_LM
MJ5IJ]-:75X;4E^L,DY-R!2;TZ2KD]`52&VH.L%*XC;!I,JK*/+]W93T[:^NN
MS4X(:]WA3?:^VG0N*.CJ5;J6JK+*2E<=52@0L"PC;*A-Q$))1=S2AV$<>\0"
MK$Z-;MZDW`,I*:8QK:9D*_\`&,8QC&,#X?C_`!!_Z_\`U\.8U?:IT7EYLZ[T
M[G1QJU/>K)?^S+Y+T&0TEK-G"[?C=B[UI,DU&J<MJY3M<C1Q@;S6=QU:[,X.
MNW^/L*+8L'J"0+$N@;6A8[N1_)[</,G9/-?F?5^)EQY:)[8K`]C%LKB]J5%U
MMMCJ>@*[ANFQ%>2Q>0E')Y2A42BS.E*S+&V)`;-3BXD)V#<JQC16^MVJN=5M
MS3G:"VSC5VU&UAN7:&O=W5'DSR?U[P+TJPL&VSTBUZ-O,SHN2UM;-?:Q+%JA
ML"/B)B%O#&D3`.Y&"J=9<V9J2,;0LD*RMW'@52[3`<B^UOM-UU[>J_2]L<PZ
MA?:$_MVOK=",-AT(G$#0M(DYNJM9R$9K6B-)9ZC:*X\1BD'BX2$:LR4;@=RT
M*XLK[=U+L7F+4NT0V;JC@YS2TEMF_P"Q^SYL+BN;FT,WTS2K%Q@X0<DJA)U.
MB:K9'L#F;V7M*4HM?N6Z;="M:ZQ+$M4Z!J>`:R4Y"Q;BR26VSP-YAJ0O(+;:
M.J-F6FG<B)'U2S#ZAJ4?6;._ML,Y[0EO`L^(ZLS03LALE$CMZNZ3*/@E+'"0
M,93PFJXIL=W5UIQ(J=_/7G%B9BM@=G-J>TZVB3/./^H(CD'R1VVTI9%6&P.1
M>JM(4SC)JR'EMD)1Q%;9:#OK9L#8H&?2CF4;L-5U!ZZ-ZQ<1I#7A0`````.@
M````?``>`!G.,8QC&,9*C>6PY756I;Y?X"H66_6&N5]VYKE,J-:L5NG+'9''
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M:!:5+56@);;^PM4#L;3#2@;,OUEHCA2#=1K.@55:Q&DJ[*2M>=VNQ(Q%`6=,
M$IU[(1]C[D-P%WY<Z7'4CC=H7D10-?[I[.WLI^,/&&(V[7G$?M'5,OQ.[1BI
M;5OL;O\`4K#J:B-06NNZ@(;>,^\G9>(BWSDUCAZ\Y>6^(<U].NODSQ2Y`;IY
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M#*V-E94;.G718R**JR_?\6=2]IGN^_\`9L:\YB;*Y[:LJ[_@7MB<Y"VG7UUN
M^NE5]L5#D]#V?C5"[NNM49NJW#[IG=#13-KL]J]<1MLL??L=8L;M0)=U'O/7
M\0M=<HIKF+V=M\VQK#D"+'6.P>W>B[/<-D:\V.R2IU#W+OG6TOQ?;V6R6J%0
M!G&WO7M9<K45S+OS*R3*.!)1<SQ1(BU3/);V,VSVH?&^K,^('+]-3C=)[0G=
M><C*=QV"+X[N][\B=..*-9=D7S?$G-PXMZ/J#738S<X0L)-2=YVY)5M@Q?-T
M=?,DYVW5V>_"KD_JBKV]ULO4UZ@8?3W801?`N\4YW59V2=V_E3#\B.4.P35R
MAPS6.=%V@RAJ?:J[(,KG349^K/PV9%,H>;=R`3[.+FG-:8V)?.P[XT=GR[U1
MR/UERAMO9YT^(A7:W%&;N](?['TM]B\@YXE[UL4W3I9KJAKM&WP,:UDCW%QK
M^,7K35]:8JZ+-HQS&2F3[KQ*T(4.E(79E`QUR1J5;2MD?5BG)66-F3A&))]G
M72J_PA8)K+E>(0Y3_;%C4VH#XAGL<8QC&,8QC*)>9=,I]P5X]&MU4K=I-3]^
M5*^U(UC@HN;-5KS74ERU^YUP9-JZ&$MD$5\^+#V*,%K,1A7CH&3Q`'"P'K8`
M`^`/`3=/#S=1'KT_+[_PYST#X`\XCY@\X^<?RC[XX$`$>H@`B'F$0#J'^/(0
M`.\;P#WO>^'Q'^D?$?A'SYR4`Z#X!XB/7P^#P#^@``/R``>8,B\WFQC&,8QC
M&,A,`=TP=`Z"`]0Z>?P]_*)]5TRGQ7,ODG=HNIUJ-N=SJVOHZX6YA!1;.SVN
M/J#"/;5-C99]NU3E9UG5V\K*-ZZVE';I"$1DGZ4:1LF\<%4K9Z!XAT#H/B(=
M`\1^$?ASG_\`/GSCNE#KT*4.OG\`\?RY#T`2AU`/>]X/^4/VW];J/7X>H]?/
MD7OC^0/SC_L#^C.<8QC&,8QC)4;UC8Z9TSM6(EV#*5B9;7EPBI6+DFJ#Z.DX
MN2@WC*1C9!DZ35;/6#]FNNT>LW*2K=TV65073424.0?)\5:Y7JCQWU'5*I`P
MU8JU9IL?7JW6J]%L86`K\!"K.8Z&@X2'C4&T=%0\3'MV[&,C&#9NR8,T$6S5
M!)!(A"U!=`'S@`^'3S>\/G#\GXL"`"'00`0^`0`0S@0#[7P#S_`'O=1#^@0`
M?R@`^<,BZ!X^`>/G_'^7."@``/0`#Q'S?B'H']```!^(`#WLYQC&,8QC&,HL
MY.4RGV3<'$::L54K<],TC:DC8*7+34%%RDG49YTUB(-S-UA^^:KNH"7<PDG(
MPZ\E%*M'JT5(/8]18S1VNBI6D!2AT`````.@```'0/@#IY@_$'ACH'P!X=>G
MAYNOG_I]_P"''=+UZ]`Z_#T#K_3Y\X``^V\`\_3S>]T`>G](B/Y1'X<X$`ZE
6#H'00$!#H'00#Q`/R=?>R/&,8QG_V3\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>23
<FILENAME>g298656.jpg
<DESCRIPTION>G298656.JPG
<TEXT>
begin 644 g298656.jpg
M_]C_X``02D9)1@`!`0$!L`&P``#__@`_1$E32S$P.#I;,3-:1$DQ+C$S6D1)
M,38W,#$N3U544%5473(V.#8W7S%?4$520U]#05-(7TM?0D%2+D504__;`$,`
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`?_```L(`,8"K`$!$0#_Q``?``$``00"`P$`
M````````````"0$'"`H&"P,$!0+_Q`!L$```!0,!`@(.$@P)"`D%`0`"`P0%
M!@`!!P@)$1DQ$A,4(5%9<9&4EK&VU=@*%188-S@Y4U=8=79WDIBUT=(:,S4V
M059A>(&TM]<7(C)4<G.3L[@G0D9'E[+6\",E)D128J'!X21#2&7Q:/_:``@!
M`0``/P#?XI2E*4I7'Y9*&.#Q:2323K?*V-Q%@>)/(''F=4KY@9&%O4.CJMYE
M1$J5BGF5"E//YG2)SU)W*^5D$FFB""]J,PZ@XCA24X!BDH9I:XJM168"L)PY
MQC[4C6L[++5$!G&14JF8+5CHW#:&94R8^?DJ52B3.RU0[71I`-]B3%"M-;28
MZU\51*5YQ82VV7R&/Z7(0Z3O4SD=D:4ID#PLC;<=N.4P19X<EC@D<9;D=7!T
M:&2'P''K3*GN-,<@B[M-+1I+*8Y=VIA_6IC/,D7CKNQL,T:I6]Y>?,)+\:.R
M!E/F<9F<52D/,N.>Q,3Z[QH49BT26-\M>90TR!S:"&YS:FHH\Z5.:&/J,P[<
M^V_H]'C_`$TI2E*4I2E*4I2E>(\XI,2:H/,`40048<<:.]@@+**`(PPP8K\Z
MP0`"(0K_`(`VO?\`!6&T9UD8\RM-,IXHP],\7OF1HVTQR^.PN$Q$L:9@]2B&
M.4J*&L1,Z.[H0U1X*`8W@#:<J5J4A1P`&MB@8!`PHQ1K^S3DA-&<,MSU@V69
MGE^OW/FC-NS'"8\_)\<M$5P)AV29TE&1Y7A5SR&Z2R,3:S-'KP%!C-PR:84^
M*'-ERVUOQD&?6EK5<>Q3M1,NSC)6%3Y=BAEA6''F`O1^:'A,T2^2>9Z0X]%J
MXBN;YW%YLA,"TBA.+<TZ<,;XC1Q!9'W&63-SU)0%0A<$[D<Q-#]*=I_R^3EZ
M+/+BL?((HES#*GUEF$*ADB02)PQ8M"N/4M&/,@'(7%>%)DAACYC<3.D-@)4B
M&4^7#8W%&HVXM6HOQ2E*4I2E*4I2E*5CWF/4YB'![M#6&<3B%M#U+YC%(L!I
M>)O%H^YM:26&.I2.2K6]X<DRSRD),:%0!J`DA`<,(PDFB$2;8..TXU/Z@H5J
M9P0PEXLQ;+]+&H>;N.)H%*X;D5U><Y&2!)A*=9K1Y<.C!;('&ZK#*\./G>%J
M"D,Q-D;,!TC,^<5X6MT61IIQUE.OG5;B,W/,-S?A7",>F4'#I*E<6G<)R+-)
M7A?'N/M6.9IAA\8]03T^1J'/+&]8*'!W2:S-V8>88M-8>Y-CHTJ(@42O$7F!
MI[U=?P\$X2&?$TN.'+(&$81D2=Q68OQ*.41#)T_QY$,F(<',#4I*0+95+XA#
M)"JEN1A`1(U40CJF%*'%H*42X1;-FO2E*4I2E*4I2E*4_P">OQ5C8TZL,'/>
M8U^%FS)./%LF2QA@?$ED>0X:L/=75\E<LB=XDWM29W,<5$C;UD4.-5("BQJ+
M67)D_*`'A':^'I^T,DR3'61'EZ@L-C4Q0;1L6SY@8CY.[ND#(='R>1J'1#)$
MY>E#7''$HA0A?;N*N*MB9`)TE1C1C]HD)1CL1*K6?8MJED)3E/$V*7;#D7&[
M?PZ9'T\YI=622O*QG<9IC?4*U8+E3MA=4<CMS<T0&'/K/J5RBW2BRET@N+C7
M)B>#4C@R+Y34H6#<SH,TM\H?6X;&G:DSZ0.*-R5X`KE*F`.C0@70^:S!A$$E
M;$?X12+KY7#&9P3@5JH`KC3VJ$4O=%K:VWSI2E*4I2E*IOMT;=>F^W1MU[4W
MVZ-NO:F^W1MU[4WVZ-NO:F^W1MU[5CUJ8T_QW4;BJ90!W5NJ!R>(3.8Y'7)!
M+YS&43<Z2Z-JF0I<\)(5(V&[^@2G&)CS&]U`XI^5EG!(3@$H.Y98#4'IFE#@
MOT3HL,,OEC'L&:S8YG:?VF.1Y"XN2:%$XHS)CU\-9'6:KY6]OCT4Y9-:W%NC
MIC@A;1-S8Z$DN#:==&G5XB0K9QR]BU/.4C50B`D1Y;KAU'ZJYKG:SDC<GK-6
M"-2.&I/")%I4R)`UI:A>_ITTKD$;;%:&0`.QFD@&)8)(V4U1.%*EA:_=SGH3
MSN@Q$H!I-YAQ%,;SZ;-4=A<5R`XP<V(XJ7X_R\TP):5D="K4NKG(E.I=_P`.
M:ILYW4N!ZG(<?QHQ8B5CE3/!8^P2*9M@3NZ-B9DL@<279]3-3<G>74A*6A(<
MG8A$04Y.!*,JP2TA2Y:`]44E!:P$X#@DAM8(+6M]??;HVZ]J;[=&W7M3?;HV
MZ]J;[=&W7M3?;HVZ]J;[=&W7M5:4I5-]K<=[6_33?;HVZ]J;[=&W7M3?;HVZ
M]J;[=&W7M3?;HVZ]J;[=&W7JT$CQ2:8ER\Z8]EKKCK(^4X\B;2)\0WM,LO%'
MU@CJQ@BDC;XI)DZF/.@F6RH*M0T.I)J!X&5RI7<JP^6`Q8,T%MICD=E?^$MQ
M+U/J,_LFI<S-!$3:TS,'([+I^*TL^4Y>,D[J2D_@X<L%<UQ!UBQTN/>EZ]6"
M3*9@:[-C.)ONCC/1[CW%>-\#8>CKH_J,;8-=%,PLPNR@I8JR)DR[^HFB'(,[
M<R@I?+!T2Y&>9+DX]L2(TC.JG[@T/Q:5':+-".W%](&AZ$Z/G+)KE%IC*97>
M>EQB.M9,B+;R01;'D%DF4);#8N$Q$#EK\[-SYF2>#=)BXC)<GU">PHU2$@;)
M=2OS=WVZ-NO:F^W1MU[4WVZ-NO:F^W1MU[4WVZ-NO:F^W1MU[57?:_%??2E*
M53?;HVZ]J;[=&W7M3?;HVZ]J;[=&W7M3?;HVZ]J;[=&W7M5L\@XFA^2U$15R
M))82F&S:-3IM4)TS:(Y0Z143@)L1KS5B!88:V7$YJ;G)R1ISMXK7(4D7$9<>
M+KKIHU'J]4Z7.3;J=@K7BYJ0M4:CF'3--29SD$6@21"G42&(1O*2S,7,#1;(
MLL0-+QD"1),7`D#HPLC'$F=:Q$,;.[(?7TXZ9M3.(C,MK,JZHH#FYPR2B>78
M@Y-IF3XWN=DIV,L`F:9!6"S+/W6:M;`R((_"XM"&9=!(^P0EF+8R`*!!;E37
M;>:;-./23+NG?)[;E!_;_P""!9&7B:$NK9=]D4^E,7S>TZB5,R:I()W1`ALF
MR3D=N/;<N*K-3\DE..G"\+:44=2MS:H(D]#N"&P=]OXMK6_!;BMNXOP=2J[[
M=&W7M3?;HVZ]J;[=&W7M3?;HVZ]J;[=&W7M3?;HVZ]5I2E+WM;CO:W5JF^W1
MMU[4WVZ-NO:F^W1MU[4WVZ-NO:F^W1MU[4WAZ-NO:K7),/0A'DESRFG;202-
MTAS%"S"PHFD*!,@C\CE$H2N",`&X*PEW/<I8X\UJKK1EF%$H[@3EGEG'GXP0
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M:F^W1MU[57?:_%>UZ4I2HA]6.;<N0S.,FCT4R#(F!C2-<7.3-;><C`D(-6,B
M=0J,+"<B.,L(\\0C3-YE[<E>_(V#;G5CAYY?/WLM2_LAN\'4\\OG[V6I?V0W
M>#J>>7S][+4O[(;O!U//+Y^]EJ7]D-W@ZGGE\_>RU+^R&[P=5P,3ZA,WO64L
M<,[MD^4KVMUG,5;G%"H/07(6(5KTC3JDIU@(`#N4>08,LRP1A%<(K[A6ONO:
M<>E*Q8UB3&4P;#"M^A[ZOCKR"31A(!R;1E`4A3*UPRU)-KG$GE\@>7:P3+<K
MWWM;G7M43_GE\_>RU+^R&[P=3SR^?O9:E_9#=X.IYY?/WLM2_LAN\'4\\OG[
MV6I?V0W>#J>>7S][+4O[(;O!U//+Y^]EJ7]D-W@ZIA-+,FD$PP7")%*'=8^O
MCA9_YM=%XBQJU/,LF>4:?EHBBR2[\J3)R20<B6'^(6'?OOOO?(.E*C(UNY;R
M9C_(<1;(3-GR,MZV%C7JT;6:E`2H6V?EZ:RDRQZ4\5S;$%%E;PB"'D`V_B[^
M?6%_GE\_>RU+^R&[P=3SR^?O9:E_9#=X.IYY?/WLM2_LAN\'4\\OG[V6I?V0
MW>#J>>7S][+4O[(;O!U>\UZD\]G.;82;E>7#*-<VTHT`CV_D3"C5R<LTL6YN
MM?D1EB$`6Z]K[A7W7M?=>I^+?^]__2]ZK2K%:F)$^Q/!N0I#&G16ROC8U(CF
M]T0B+"K1FF/;6G&82(TLTNPA$G&E7Y(L5N1&*V[?NO:&Z^I?/UKW_P`K4OX[
M_P#>&[P=5//+Y^]EJ7]D-W@ZGGE\_>RU+^R&[P=3SR^?O9:E_9#=X.IYY?/W
MLM2_LAN\'4\\OG[V6I?V0W>#JE2T83663S$*I[F3^XR1W!-)`@"X.8R1J0HD
MR=I&G36$020#E1(CS;@MR');S!;Q7YV[+6E*L5J8D3[$\&Y"D,:=%;*^-C4B
M.;W1"(L*M&:8]M:<9A(C2S2["$2<:5?DBQ6Y$8K;M^Z]H;KZE\_6O?\`RM2_
MCO\`]X;O!U4\\OG[V6I?V0W>#J>>7S][+4O[(;O!U//+Y^]EJ7]D-W@ZGGE\
M_>RU+^R&[P=3SR^?O9:E_9#=X.J5+1A-99/,0JGN9/[C)'<$TD"`+@YC)&I"
MB3)VD:=-81!)`.5$B/-N"W(<EO,%O%?G;LM:52_.M?J7J$C->H#-;!E_)C(R
MY,E#8T-,U?$#8WI3T(4R)$F4\@0F("-`8.Q10><&PQC%:W&*]6P\\OG[V6I?
MV0W>#J>>7S][+4O[(;O!U//+Y^]EJ7]D-W@ZGGE\_>RU+^R&[P=3SR^?O9:E
M_9#=X.K('2WG'+\PSI"8[*,AR-\8W"TAYM:UYR,213S+&7A8GY:$I$29?E*D
M@DX'(F!W#+#OWVWVO,-2E*CHUS91R)CQYQP1!Y@\Q<EU:Y2<XEM1B8L*PU&M
M8BTIA_+TRB]Q$`4GA+Y&X;6L:/?:][VO;`_SR^?O9:E_9#=X.IYY?/WLM2_L
MAN\'4\\OG[V6I?V0W>#J>>7S][+4O[(;O!U//+Y^]EJ7]D-W@ZO&=J8S^$DX
M0<M2^P@DFBM?FANWVO8L5[7M_P!7<=KVM>U3TQ%4H716-+59PU"I7'V54I/,
MO:YARA0V)3CCAW#8(;C--&(8MP0VY(5]UK6YU<BI5OLLN;@RXMR,\-*LY`Z-
M4'E3BW+D]PV/1KD3(M4)51-QA&"QI!Y8#2[B`(-A!MO#>W.J#BVI?/VZW^5J
M7\5O^\-W@ZJ^>7S][+4O[(;O!U//+Y^]EJ7]D-W@ZGGE\_>RU+^R&[P=3SR^
M?O9:E_9#=X.IYY?/WLM2_LAN\'5(_H;R).<AQB?JYQ*'63JFR2M:1`>ZC(&-
M(F.90'FDD\SIT]K`&=>YHK"L*_)7WVO:W.K.BE*5!KK8],5+O<>'=[R6L4:4
MI2KG83]&3%'PC0SO@05L54I6&>N_T`EWONB'SB.H4Z4I2E3LZ-?2XX\ZDG[[
MWZLGZ4J(3:&^BC!_>`9WRN=8!4I2E?19_NPT>Z[3\XI:V9K<7Z1=V]5I6.&K
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M;%5*5AGKO]`)=[[HA\XCJ%.E4Y(.[?R0=U]VZ^^VZ^_G6W7W[K[[[K6W7Y][
MVM;?OJN^W/Y]N=Q\^V^V[HVX[?IW4M>U[;[7WVOS[7MQ7MT:5.SHU]+CCSJ2
M?OO?JR?I2HA-H;Z*,']X!G?*YU@%2E*5]%G^[#1[KM/SBEK9FMQ?I%W;U6E8
MX:N?2Z91]QF_OA9J@7%QWZM^[5*4I2IF]`?H&K/?_)_U5DK-VE*QPU<^ETRC
M[C-_?"S5`N+COU;]VJ4I2E3-Z`_0-6>_^3_JK)6;M*H+BOU+]RM>C4%Z.>7/
MA`D?ZW5GZ4I2LG=&_ICL>]24=Z#[4[=*4J*O:,?=[%/N/,OG".5&W2E*5XC_
M`+0?_4'?W0ZV5(/]Y<1][$?^:$=<II5L,V^@WE;X.IGWNN-:ZH>*W4MW*K2E
M*5*[LZ?O0R;[[6?O?+J1NE*5!KK8],5+O<>'=[R6L4:4I2KG83]&3%'PC0SO
M@05L54I6&>N_T`EWONB'SB.H4ZY5$6]I7."DUX=8^VIVU`>X)T\E6*T#8]+R
MA%@1M1ZE&B7&EI1FF<UN5N5!$<W)%*0D5CU18R\M@1I@*S[D0XR18\/<G%QR
M(C3-"A:K+$QH#,=/:H]P2H0,8D93@!3<L@`21\K86M*ZJ4W+E)J$)=JVE:SS
MAFQQ%D[6B3K&EZC,9;5"[F>["Z28UJ11TI.A-)#9<MC3HOM?(LT,4)TI@C;H
MV@)2A4^%*[6@FS`HCK\),H<?+7RS;6B2D+QI/*]2H2R9`4\IQ+FZQAX6]>$*
MH05:(L\\D@RUN4&C)$7NXE4[.C7TN./.I)^^]^K)^E*B$VAOHHP?W@&=\KG6
M`5*4I7T6?[L-'NNT_.*6MF:W%^D7=O5:5CAJY]+IE'W&;^^%FJ!<7'?JW[M4
MI2E*F;T!^@:L]_\`)_U5DK-VE*QPU<^ETRC[C-_?"S5`N+COU;]VJ4I2E3-Z
M`_0-6>_^3_JK)6;M*H+BOU+]RM>C4%Z.>7/A`D?ZW5GZ4I2LG=&_ICL>]24=
MZ#[4[=*4J*O:,?=[%/N/,OG".5&W2E*5XC_M!_\`4'?W0ZV5(/\`>7$?>Q'_
M`)H1URFE6PS;Z#>5O@ZF?>ZXUKJAXK=2W<JM*4I4KNSI^]#)OOM9^]\NI&Z4
MI4&NMCTQ4N]QX=WO):Q1KG)4&<"X5:=.5UB5I6JU[>P$HVA8YJ7=2VB)(7+#
MSP"3-S*QI5ZE,U7<W!9<]<[&C0M3<N$D6FIN8"PPO`O<6\3ZF$9%G-S99SRE
M`:<8PNC3#GB:J4[4594'S1`-0Q]\9TAO)M%SY`UG)+EEH3D[B9P>4PU5$5T@
M0.:])<UED*F.([D@-O9\4H1!$XJ4-A\C<E(VISD=UIAMQW+7KTS8"QAX5!A/
M#JN=A/T9,4?"-#.^!!6Q52E89Z[_`$`EWONB'SB.H4Z?^_.OU.A7L\VK>:1K
M.;5G-AES+F++JU/-AESBQ$G7,5<MYH,N<2,9)MQF"Y:4,91G)%B$&_CY>?R!
M!?+SK%I1C,2@L:98"8PP99IAB<-A6L0888248,PKD!B&44,0KB+!</D6+%CB
MJ/7."M4O6J1\M4K%J@Y6K4&\B$/+#U*@9AQP^1"$/)F#$+D0A#:]@AM:WK5.
MSHU]+CCSJ2?OO?JR?I2HA-H;Z*,']X!G?*YU@%2E*5]%G^[#1[KM/SBEK9FM
MQ?I%W;U6E8X:N?2Z91]QF_OA9J@7%QWZM^[5*4I2IF]`?H&K/?\`R?\`562L
MW:4K'#5SZ73*/N,W]\+-4"XN._5OW:I2E*5,WH#]`U9[_P"3_JK)6;M*H+BO
MU+]RM>C4%Z.>7/A`D?ZW5GZYRE@#PJ8V1XLK;"%4I<R6R*1Q3=U)D$G&<ZEL
M@5C*"[3=E/0`=!C2G'GO:<PJZ<XP2?E5R!G??18??G$\FS>\1Y8VB->D2Q])
M/=+-C8[,#LR,;@T*PFM9:\Q2)RDK`%`H1HU*!P1.A3F0IYD3K!)^`.+"X-)1
MYCB$E*:0].3%S(,ZPU1RUE-&F>#2`%V$`Q"W+`@0G+;&6*,6FV3IN7"*5<S_
M`!JR=T;^F.Q[U)1WH/M3MTI2HJ]HQ]WL4^X\R^<(Y4;=*4I7B/\`M!_]0=_=
M#K94@_WEQ'WL1_YH1URFE6PS;Z#>5O@ZF?>ZXUKJAXK=2W<JM-]M][;^?;=O
MM^&V_GVW]6W%3?;H_@W_`*.=S^IS[<_\MNC2E2N[.G[T,F^^UG[WRZD;I2E0
M:ZV/3%2[W'AW>\EK%&KSM64BF^,-#>(MX$Z,$&GN/DC<$TDR+.C7-UKDX%.C
MH0:JL:4N8E;NI4\QDMZ@#LJ;F!3=P;A(SK7_`!*,G)G>SVH9B7=C<YE/VS(D
MB7DFE@4,KJW-CBA"AC2A.K`>I(YO?G]Z+6JQ-I]K*&]JN18M,H7*/(U9/:DC
M1,6Q<QJ%8'=&<WL18AIU(`MPX_)V=.WOJE4/FDRY;[("<A*W!/94H<)>@$<8
M41<U*M167_3>_P"6_'?\M]WX;U<["?HR8H^$:&=\""MBJE*PSUW^@$N]]T0^
M<1U"G2E*4J=G1KZ7''G4D_?>_5D_2E1";0WT48/[P#.^5SK`*E*4KZ+/]V&C
MW7:?G%+6S-;B_2+NWJM*QPU<^ETRC[C-_?"S5`N+COU;]VO<;6U>\N*!H:D:
MAP<W18F;VY`E!RQ2L7+#@D)4Q`-]N2-.-&$`>2N$`=]QF"`6$0P\L;X$XO$T
M:X&RNK$\/+BY%-!ZI`M-&PMBZZJR57S2]F)BDBI"W"_CJW5MLK;S+;BV\]<,
MQ/8_R*\<R!)&3)3>Z,Y(!>)'9`G&H,=#"+R9PAJ=R+3\S!*&F5R=K5M"=,$^
M[E<T)2@:("8X!E<0<D!C8N5-QQR8\]&;S.I&C.LH3@4@"'FE.`\-@@.&D/N8
MD/&5R1-U)!UB33B@@-'Z-3-Z`_0-6>_^3_JK)6;M*5CAJY]+IE'W&;^^%FJ!
M<7'?JW[M4I2E*F;T!^@:L]_\G_562LW:507%?J7[E:]&H+T<\N?"!(_UNK/U
M=A!-SV"'A86^9.KMS8IBKXU-:E$Y)DN.)6P/9;H<]LYJTU>FYKLG)$W%*(Z`
MD+FD7J!NB0L:0A*=]M[RRI4F1AO8G`$=YA=Y)(95*X]'D;*-]D<P4(/+IQ21
MTHL1($2-O:6U.UIEI19I[J`UW,2M-K(DR#T39I#7.$R1"Y,W(2108N31\`T8
M5QJ-'=1%S(R85(#;\T);L!:.:J'\%Q@,E+O+37%04L--.$@LU63NC?TQV/>I
M*.]!]J=NE*5%7M&/N]BGW'F7SA'*C;I2E*\1_P!H/_J#O[H=;*D'^\N(^]B/
M_-".N4TJV&;?0;RM\'4S[W7&M=4/%;J6[E<QQ]&TTQG<.BBU68@12.2-+0L6
MDAL-0F1K%8`*S$P!!$$:NZ>QA:,%PCL)6,@/(&;^0%>8$09Y,\Q68LP8P=`U
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MGK@G'("RC7!$6YL[DS7<VXL\0"3'!INXV<T91@P!-4)`%<L+N.PPW/:\ML3.
M]8\NX-:6:7C08FFDTW6$R%L>W=/')HKDB2Z!*0[-:I:6TH#T*0@N1@.&Z*F9
MN+5DV;T28!G`S<A*@`D?,"A8B0*7U>XQF-)SE8FQC-=%:U2I?`*EQRQ;=<D+
M4*!,Z,Y:H*0/SLID10`*F].,W\Y0>X2^NS:?"&L#:A(1N!2@);86T`Y2>^N2
MN/MHDA5^1/51V-G-C$N=16$-W4HQJKJ%H;!5G6SJ9O0'Z!JSW_R?]59*S=I2
ML<-7/I=,H^XS?WPLU0+BX[]6_=JG_P`=>]]UK=6][VM:W'>][6MS[U45K@%<
M`[7`.PK@$`=K@&$=M_)`$`5K"L,.Z_)`O:P@[K[[6W7JFZ^ZU]U]U[W#:^[G
M7$&P;B#:_%<0;""(0=^\(1@O>UK"#>[_`)ZO0O;HVO\`@O2IF]`?H&K/?_)_
MU5DK-VE4%Q7ZE^Y6O1J"]'/+GP@2/];JS]*4I63NC?TQV/>I*.]!]J=NE*5%
M7M&/N]BGW'F7SA'*C;I2E*\1_P!H/_J#O[H=;*D'^\N(^]B/_-".N4TJV&;?
M0;RM\'4S[W7&M=4/%;J6[E>8@\]*>0J2G')E*8XI2F4IS!DJ$ZA.8$XA00<6
M()A)Y!H`&DFEB"848`(P""(-KV^J[2-]?5J=Q=W10N6I!<FD.&%.19*.ZL:\
M9B8A(2F2IS3EYAB]2<20`U6N,,5JAG*1B-OZJEV<UHW4Q6N4J3'U9Y8/)AX[
M&&.BWFE0LNI7&"#R9Y@EBH]6.PA6`8I,Y>8`9I90B_9=Y"^/X6\+TZK7,+6E
MLB;[+#>6<RIMQ0;@!>P0W,,&`A.`Y2?<U6>6F3%GJ#0)DX2_C5*[LZ?O0R;[
M[6?O?+J1NE*5!KK8],5+O<>'=[R6L4:4I2KG83]&3%'PC0SO@05L54I4:6UA
MU'X"TL:1G;+&I*7RJ$8R1Y`Q\QJGV'011D5Z+>7MU4$LR8$;3/#$::F4G$F@
M4K++[<R`#8=B3Q""7?5XX<S8X>V7U"?)#?\`]Y%.',V.'ME]0GR0W_\`>13A
MS-CA[9?4)\D-_P#WD4X<S8X>V7U"?)#?_P!Y%.',V.'ME]0GR0W_`/>12VW,
MV.-[VMYY?4)S_P#_`"&__O'K;%V:.=,-ZDM%>&\S8`DTAF.)I@&=7BLBE40/
M@CZX68\C2V.O'-T64N;N<V<S/S4YI$_).*BRQ*02N#<L*D)0,[Z4J(3:&^BC
M!_>`9WRN=8!57=>]A7M:][!M80[VM>]@!N*P+"'>UMP`W&((+"%NM<8@@M?D
MA6M>G1O^"W/O>_.M:U]^Z][\5K<Z_/OT+]"E[7#>X16N$5KW#<(K7"((K;]X
M1!O:P@B#NOR0;VM<.Z^^UMUZ5]%G^[#1[KM/SBEK9FMQ?I%W;U6E8X:N?2Z9
M1]QF_OA9J@7%QWZM^[5*4I2IF]`?H&K/?_)_U5DK-VE*QPU<^ETRC[C-_?"S
M5`N+COU;]VKDX>`89DN)`+2$KO\`ZQ>(U,:H.2G#2@8W4Q8)K4)BCU),@)1A
M//C(TQ!RBTC*:K%%#'>UJNZB++%DHL;$M<7IE>=/TO.;%3JA.\URUK!C.7`)
MM-B#@'FVEI#FWC)7JT8[HE9"5K/:CAMIR:P^$L\G:'C'+9%')E$4B8ES*%2K
M.5$D-SDY>7<J<&]*BN$OFI.\2:\F);I<OMO"AAD3YM`:>=9$E3\;RO$5D1D_
M*5SL%X4.Q3BO-4>5P6@99[;(WV*JRPMA9ZDI*W#61T]0P<K-L`Z/G-H^5$#L
M,H-LJF;T!^@:L]_\G_562LW:507%?J7[E:]&H+T<\N?"!(_UNK/TI2E9.Z-_
M3'8]ZDH[T'VIVZ4I45>T8^[V*?<>9?.$<J-NK@0['ZV8(U"XE<%"F*?V.+EF
M^5JUS+"\R(E>>V"=!HKA"QLMPMR@"A\67,**.N$HI(I$`_E/XC^/'F11USD:
M10WD)T+]%8ZE2J3[A4.R^4O@&$HY&(%A%A;&Q:<G`Y.1G)$6,4E)T]C3@*+$
M^:58[615Q4IE3L@4-J=C$^>7-B%28@8+.[O'26[F0[DCP.:^0,;@WMR<1E[*
M4Q?EJ(9*,I79-;SJUXC_`+0?_4'?W0ZV5(/]Y<1][$?^:$=<II5L,V^@WE;X
M.IGWNN-:ZH>*W4MW*K2E*5*[LZ?O0R;[[6?O?+J1NE*5!KK8],5+O<>'=[R6
ML4:4I2KG83]&3%'PC0SO@05L54I6L#Y+L]1WF?YP&`>^!YKJA:4I2JAX[=6W
M=KM^/(O'J'>BOJ9^_P`2^7ZG_I2HA-H;Z*,']X!G?*YU@%62>$G2/73M3>XK
M5[$FC\H?I=D!7=JYMCLIQU>+)T*F//BP"M,$E04<E7M;,U+BE:5S72L(VXKR
MY*+L/Z3`;&HKBHUW;W2'R5-&<GX@E3BVC*?0.3VY%-LR5KHXO/7QLL@LHD@%
MFYL3\UJ&WD&MU=U:BZQQ)(4?E,P$Y.?'`I&L4L;RYQF$MJ]4YI271^\JE:Z/
MQ%J6/@"5!("'65.*I-)YRXEJ#SV6(D($]N;5+LM!?%V^^U[VO<-[VO>U[A%R
M0;WM?=>X!<[D@7O;>$6ZW)!W"W6WU]!G^[#1[KM/SBEK9FMQ?I%W;U6E8X:N
M?2Z91]QF_OA9J@7%QWZM^[5*4I2IF]`?H&K/?_)_U5DK-VE*QPU<^ETRC[C-
M_?"S5`N+COU;]VOT68,H8#2AC*-*&`THTH8BS2C2Q6&6:48"X1EFEC"$99@!
M!&6,(1@$$0;7M[0G)R&J.7#<G(:Y1:]E"X;@M$M/M<(0WL>LN?=4=:X``!>Q
MIH[7`$(=W(A#:WJ7&.Y=B;C'<FPQ&6)N(5R;&#`$L9G*KWY7RP980EB,Y'DQ
M%A"`0K@"&UO*H4J59G+E:E2K.Y645RY4H.4G<J(+"205RT\9AG*B"@A*)+Y+
MD"2@A*+"$L(0V\%3-Z`_0-6>_P#D_P"JLE9NTJ@N*_4OW*UZ-07HYY<^$"1_
MK=6?I2E*R=T;^F.Q[U)1WH/M3MTI2HJ]HQ]WL4^X\R^<(Y4;=7AQ9D-N@13M
M<XM44J<7)E&XC*;$;V@D\.3$N9$CQT^-BY6C)+:9'=:E67<0B4"3K$"<9B;D
MDZ4XO\$Y13>8F6Q,V(QH@QW;8FT,:Y$VJ`J6]!''U<ZVNO6F/-A*'!.!8(]O
M<"$-AF/!BIQ<"3!*!6KWHMDY"W/:=5([N[VF"U6YJ=UA2=X>39&8I:##G&Z9
MT5W(.1IV-"XP=J(&K")"SO3FZV#=6YN"8RT#DH3JW)Q5I$@&](K<5ZI(WEBY
M,MO2*5AQZ5`6/=;DRT)!A:4L5@AL(!(;V"&U^1M\T_[0?_4'?W0ZV5(/]Y<1
M][$?^:$=<II5L,V^@WE;X.IGWNN-:ZH>*W4MW*K2E*5*[LZ?O0R;[[6?O?+J
M1NE*5!KK8],5+O<>'=[R6L4:4I2KG83]&3%'PC0SO@05L54I6L#Y+L]1WF?Y
MP&`>^!YKJA:4I2JAX[=6W=KM^/(O'J'>BOJ9^_Q+Y?J?^E*B$VAOHHP?W@&=
M\KG6`5>;FA1S/=)S0?S)<X*BZ3EYO,MU`0W`%1=-R?*+J`@O<`3[EW-"#>$(
M[!O>U_'R8^0$5R8N5C$$0R^2%RL8@6%8(AE[^0$(-ACL$0@WN&PQV#>UABM?
MS@6K2CC5)2U84I/+.)/4%JU!:@\E2#E2DDX\!MCC25!5^5*"C!B+/+_Z,X(P
M?Q:];_VYUNI;BM^BOHL_W8:/==I^<4M;,UN+](N[>JTK'#5SZ73*/N,W]\+-
M4"XN._5OW:I2E*5,WH#]`U9[_P"3_JK)6;M*5CAJY]+IE'W&;^^%FJ!<7'?J
MW[M4I2E*F;T!^@:L]_\`)_U5DK-VE4%Q7ZE^Y6O'J$/(#G3+H1'D!%;(,CM<
M(CB["M?FOBO:XK7M?\E[;ZL]S2F_G*?^W*^O3FE-_.4_]N5]>G-*;^<I_P"W
M*^O3FE-_.4_]N5]>G-*;^<I_[<KZ]9/Z-3B!ZC\>!`<2,5[2G<$!I8A7_P"R
M#[Q!"*][_HM4[]*4J*O:,?=[%/N/,OG".5&W2E*5XC_M!_\`4'?W0ZV5(/\`
M>7$?>Q'_`)H1URFE6PS;Z#>5O@ZF?>ZXUKJAXK=2W<JM*4I4KNSI^]#)OOM9
M^]\NI&Z4I6BQMOMO4LT*;17+>G`K1;B#,A<1BF(G0,^EN4<OQA\=+R['#')Q
M)5+1$G1.QD%-5W/RO2C3)P&'D$`/4C,/,'R,27V58X=+:T]_[<=0GAJGV58X
M=+:T]_[<=0GAJGV58X=+:T]_[<=0GAJGV58X=+:T]_[<=0GAJGV58X=+:T]_
M[<=0GAJLHM$'DE9=G;69I.PH/9_8,AH,N:C\+8U'+FC,><W-TBP9OD./QP4A
M;FUW=S&M>N9_+'F](C<2C4*D\@LE66(@9F[L<;<_KW_]+WM5:5K`^2[/4=YG
M^<!@'O@>:ZH6E*4JH>.W5MW:[?CR+QZAWHKZF?O\2^7ZG_I2HA-H;Z*,']X!
MG?*YU@%2E*5]%G^[#1[KM/SBEK9FMQ?I%W;U6E8\ZKD:QPT^9,1MZ-6O6'LZ
M$)"1`E4+59X@O[0.X24J4LY0<*P`B'<)98KV`$0KVL$-[V@TO"IKOO\`]BYE
MQW_T2D71]S*IYB9K^)<R[4I%X,IYB9K^)<R[4I%X,IYB9K^)<R[4I%X,IYB9
MK^)<R[4I%X,IYB9K^)<R[4I%X,J8+0DV.;5A16F=6UR:E-YW)3;)G1O6-JFY
M0TK-8!MDZXA.=<H=P"L`VP.5CN$5@BO<-]V:%*5CAJY]+IE'W&;^^%FJ!<7'
M?JW[M4I2E*F;T!^@:L]_\G_562LW:505[V"*]N.P;WMU;6KJW=J1M^MJUI^V
MC&MG"F*=23!',:XOU+96@\&CZG3MIED1S+%X[)%+:T-HWV2X?=I"[B3)B`A&
MX/CJY.:D=Q&*5IPKVY'`K[)<VS7MJXS\ES25^X^GV2YMFO;5QGY+FDK]Q]/L
MES;->VKC/R7-)7[CZ?9+FV:]M7&?DN:2OW'T^R7-LU[:N,_)<TE?N/J8;8([
M<3:::P-JUI=T]:@M0+'-L23[^&*TKC*/`NG>%J'+S-8+R1+67E<D@V*HY*6[
MF1_8FQ8+RL>D5E19`T:RRA$>H3&]DC;GVMU+56E*BKVC'W>Q3[CS+YPCE1MT
MI2E>(_[0?_4'?W0ZV5(/]Y<1][$?^:$=<II5M<S$'J<1913)B#E*@_'TP)(3
MIB3%"@\XU@<`%DD$$A&:<:8,5@%E%`&8,=[!`&XKVM6OL&$S7=;_`+%S+BM_
MHE(NA[F57S$S7\2YEVI2+P93S$S7\2YEVI2+P93S$S7\2YEVI2+P93S$S7\2
MYEVI2+P93S$S7\2YEVI2+P94I&SZ9WAGB>2"WAH=F@P^5-!A!;LUKVLPXL+"
M6$1A):].G&:6$7\40R[""$5KAO>U^=4A5*4KJ1_)7OJUVHSX/].7[#H;6M_2
ME*5(!LH/5/\`9V?GO:6OVU0RN[WMQ?I%W;U6E:P/DNSU'>9_G`8![X'FNJ%J
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M6B*($L:UUBK*F]4(@FZE&:2?RHOEG(V^6'CMU;=VNWX\B\>H=Z*^IG[_`!+Y
M?J?^E*B$VAOHHP?W@&=\KG6`5*4I7T6?[L-'NNT_.*6MF:W%^D7=O5:5#OM^
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MF)*Y<.U]F2E*QPU<^ETRC[C-_?"S5`N+COU;]VJ4I2E3-Z`_0-6>_P#D_P"J
MLE9NTK\C_D"_HB[EZZ4S;7^JV[1C\\'.7?HOJ+RE*4J?_P`B\>KB:*^KG[_#
M1E^NWX#Q6ZENY5:4J*O:,?=[%/N/,OG".5&W2E*5XC_M!_\`4'?W0ZV5(/\`
M>7$?>Q'_`)H1URFE80;3*6RF!;.G7A.(/(WV'3.'Z/=2$GB<LB[LN89)&9(Q
M8BEKFR/[`]MAZ9R:'EH<4R=>VN:!2G6(5A!*E,<4<6`8>GJX63:BVW6X1K7-
MS@AMZ:W.-[\5N.]YO>][]&][WO?CO>]Z<+)M1NF-:YOE69P_XVIPLFU&Z8UK
MF^59G#_C:G"R;4;IC6N;Y5F</^-J<+)M1NF-:YOE69P_XVIPLFU&Z8UKF^59
MG#_C:M^?R'YJ:U&ZF-.>L%^U&9\S-GI[CF<8`UQYVS+DZ9Y,<6!L68W.5JVU
MD63)Y>5#2WJE90%BE$@,3I3U=KJC2A*!#,%N&TI2NI'\E>^K7:C/@_TY?L.A
MM:W]*4I4@&R@]4_V=GY[VEK]M4,KN][<7Z1=V]5I6L#Y+L]1WF?YP&`>^!YK
MJA:R1TKRY\@&4PSJ(ZH7W2).XC&)&]P++\='E=$Y%2LA*42ABA;[A=`[SF-E
MRI*>N;C7I,T.C45:P43XDLV+CU!$U\#VIF$5[^[+W9U;<:QM/KZQOJYS7"KX
M7:G2(:RX`GT],.',[1!9!HU&W".,$OR=)63(,P9X-*UD3Q>E!J+FRQ7+61\A
M[39?@CA[6Y%D`<+1S.[I*9_A]GS-&XZ]XP2\TGN>+])"5WCK7D>)M$M`G8'J
M<9`G^)RS,(1J0N4A5.4#P@S2;';$Z,39D7F1AQ9UERC"$OS48[X%0L1$7#C_
M`!4VRITB,340&#2O+#3CR/-V6IG`H(J:V$^&PR4SU.].T?CXX[&K(TI]S"HX
MQDGEMJ?%0/';JV[M=OQY%X]0[T5]3/W^)?+]3_TI40FT-]%&#^\`SOE<ZP"I
M2E*^BS_=AH]UVGYQ2ULS6XOTB[MZK2H0/)(7J)VO;X/(%^V_%M=.29]L,_IB
M_P!Z]?BE*4KM/?(</J2LD_._S5WFX?K:[I2L<-7/I=,H^XS?WPLU0+BX[]6_
M=JE*4I4S>@/T#5GO_D_ZJR5F[2OR/^0+^B+N7KI3-M?ZK;M&/SP<Y=^B^HO*
M;K[KWW7W6W;[_@MOXM]_R[K[NI5>1%>]K6#>][VWVMNOOO;=OWVMQWMNY_4Y
M]4_Y_P">M>E3_P#D7CU<317U<_?X:,OUV_`>*W4MW*K2E15[1C[O8I]QYE\X
M1RHVZ4I2O$?]H/\`Z@[^Z'6RI!_O+B/O8C_S0CKE-*C_`-J_ZF!M$_S(=4O[
M%9G72$7X_P!`>Y:J4I2E=CWY"-]*[K:^'_&_[,%-;OM*4KJ1_)7OJUVHSX/]
M.7[#H;6M_:U[WW6MOO?G6M;CO?H5+/IUV?RN:Z+M6&>9QBC,[O.6W3Y',MZ;
ME3+%9<F@;?'T&J/"V*IE/I$ZHF8Y%)C7J.R;(*.*1PA=RALCL.G.1'U-S`@B
MRD[*.4Z)=%D1R%J"879(H8F'17JRD&D!T?)Q.GN.1#49.7C3-J<?\-.V39&8
M])4V+T,KU2Z:R8U*W6(.N/8NQX?R<VE*7!C?(LMR`NQ'SQHHC*!/J2E^F>,2
MW*V.&2<O<JQG(!.I*:T(TUL@9](6R:.J5Q4-3M.'S(D9@LME\.:FYO6/;?@3
M&<NSC(&$,2?6.3(8K;VW<[_G_G\M2`;*#U3_`&=GY[VEK]M4,KN][<7Z1=V]
M5I6L#Y+L]1WF?YP&`>^!YKJA:4I2JAX[=6W=KM^/(O'J'>BOJ9^_Q+Y?J?\`
MI2HA-H;Z*,']X!G?*YU@%2E*5]%G^[#1[KM/SBEK9FMQ?I%W;U6E0@>20O43
MM>WP>0+]M^+:Z<DS[89_3%_O7K\57=?=O_!U;;^KNW[]WX-^[=OYV_?SJKR(
MN=SMV_BWWM;G='GWMN#_`.:_\7\M4W7Y_P"3G7W]'H52NT]\AP^I*R3\[_-7
M>;A^MKNE*L+J=8GJ38)R*QQYJ7O;RX-2(I`UMB<:M>L-`^-1XRTZ<O\`CFC"
M248:((>?8!8Q<0;U#!?3_G+??_)%D+CO_HTMZ/\`1JGG?\Y>Q%D+M:7?5IYW
M_.7L19"[6EWU:>=_SE[$60NUI=]6GG?\Y>Q%D+M:7?5IYW_.7L19"[6EWU:E
M>T4Q*40S#RIHEL?=XTZCFTA6A;GI$:@6"2*$S0$A38@VUA7(.$2:$LSB%<L=
MK?R;UEY2OR/^0+^B+N7KI3-M?ZK;M&/SP<Y=^B^HO+6WW_Y_3>IMD^S_`%$+
MV6.H'-<EPTO>,K-TIT>91;\N7<4BIJA.'\GHLUB=85&T:)S.2J5JE"1CV39+
M=UA)SDU.KC'H0D0-Y\=E1[C]L4=T.8AU6X>59GQW`H5C:9[.K1QD5K:7!IR#
M+,9H\T9$QGA"89/DDK9D2V8S9U.F$%/S*!@^[13;E.20]P*+9FYM3KF;'[-^
MB5>U88R=D7$$!2ABD$R)D*7319*Y&`S)L*B$>=<=-Y>(VUA)7J$[DOP+&\_X
M-4ZDG>]S5B+).566(M@W$K&4R7`BOO:]KWM?G7M?=>W0O:I__(O'JXFBOJY^
M_P`-&7Z[?@/%;J6[E5I2HJ]HQ]WL4^X\R^<(Y4;=*4I7B/\`M!_]0=_=#K94
M@_WEQ'WL1_YH1URFE1_[5_U,#:)_F0ZI?V*S.ND(OQ_H#W+5]^*,B:225B85
MK\SQ9$[NR%O6R60#6`9&!&I4`+5/+KY6I'!S,0MJ>YBQ00UM[@Z*2RKIVY`L
M6FD)C9`5FSCEK]FF,X[Q%E:#Y'QW(]-"#5XXYE/9IC&6G&V";DKB'U^RO""F
MB3SB,2)H?F\$>:X8PMTP?YXY2;'A,"3R$_($>3&_&.T"/[KIQR'J4A$]3/T:
MB4@EZ>.1%YB+I&9W,(GCW)NGG#$R?;LY;J_I(Z_I\EZH,5M$?@2]Q6/\B:KR
MIW"<W*&-&SO6'64<?GXNF+A!E[TTO3XPIVU/)_*4T2E"QRDUN3*I#$1+K_\`
M0N#E#W,\^-/JQ#RQK&_-CF4UJG!`2G<%5O*['OR$;Z5W6U\/^-_V8*:W?:4I
M74C^2O?5KM1GP?Z<OV'0VM;^LA,>ZI<XXRQ]EK%T5GKZ1",SXS(Q++V)8ZNZ
MQ"1#B<@0O)`DD>2C<0I&%4J?8*SI%JI$GWJV%2],IQ8D;PLL+G^9M;V9L\L:
M>/Y$*B2Y`YY&8\P90$@:G-L59RRO'H@G@#;D+*ZE,^6,7R(N&!<V0SS)7AS6
M8=)YE);MMIC,)#(5_P!2):^]0<.8LXL"!RCBY/G8QW4O"EU9#5"N%+'S$N1<
M`N:G'%D[DC11TL>"LKSO$2!I6HGIA8H<[H_*!I:WZ.QI[:,*+WWW_P"?T6J0
M#90>J?[.S\][2U^VJ&5W>]N+](N[>JTK6!\EV>H[S/\`.`P#WP/-=4+2E*54
M/';JV[M=OQY%X]0[T5]3/W^)?+]3_P!*5$)M#?11@_O`,[Y7.L`J4I2OHL_W
M8:/==I^<4M;,UN+](N[>JTJ$#R2%ZB=KV^#R!?MOQ;73DF?;#/Z8O]Z]?BI;
M=,)L<S=H*UDX:=QX;9)-B%@P9F*#`?\`$;4WR9GC5M0\-Q[ES+S;G9$B,DRJ
M8`*RQ$X:OQY,7M/"7W'1[LJ9`(W^%Q=M42"YYB&E_3)E.=2N'B,:--VD_47G
MG9[MT)DVGR'G3F"YZ2Z?YFSXOUK/)BR22$O5$[OT\B\PGLI:9N?%`08((<W0
MJ)HH[YD61LQ4S?H[0Y2B&K#)>`XGCO%;`5EO,F7W#';\"Y\MA3%"X5.-19&E
M^%KV@AV9(JLP1IW/O*\L"6+VA'),FJ6O$#$:XJ\9B/60<WMNO>W0O>W.XN=?
M=^2NT\\AP^I*R3\[_-7>;A^MKNE*A-\D8N3BS[%K7@XM*]:V.";'D&NG7-ZI
M0B6)[FYKQ@29<A4E,*/*N,HPPL=P&!Y,L8RQ<D`0@WZ@`S+F4^6#_P`I$^_E
MB_TTD_\`XK__`+6OQ_"[E/V2)]VZ2?PM5?X6\JWO>ULCS^][;]]O-G*-]MW'
MOMY:_@_#T*I_"YE3=O\`X2)_NW[M_FTD^[?T-_EKQ\^U/X7,J>R1/NW23^%:
M?PNY3]DB?=NDG\+5VA_D/I^>Y%LH)&O?WAT>UP=76:"++'=Q6.:NQ`8CB0T)
M-E*X]0=8H)AQHPEV'R%AF&#W<F,8A;4M*_(_Y`OZ(NY>NE,VU_JMNT8_/!SE
MWZ+ZB\JX#+E.?1['DYQ2S2)0@Q_DIZ@LBF\;)2MPDS^]8T\U/F'<%"HU$8Y)
MSF#S:RCF<*!:D*4>6YW-Y:NQ*3F?F\KU*Y@G$WQED252!I=I9AZ'8^@&/%PH
M5!T*5CB.*D!35CMH.:&N.(6=\\R;<G2(FQ?(4#JZ72H4!"Q<J+0I0E>RSZI,
M[L6(IW@UOR`Y!QSDEW=7N7-BE(UKG9>MDB^$.DP`GE2U"HE+6AG;EC+&Z^?-
MK8\I$$U5P&('21.Y"8TG(X_WO>][WO??>_/O>_'>_1O4_P#Y%X]7$T5]7/W^
M&C+]=OP'BMU+=RJTI6L7Y('VK.%]G!,],3-E?3KD3.1^58OE9T95D'S$R8N*
MCA,2>H*B6IG%.[X]FMWDQS,?$YR8\E0W60@1&EC)5W56,3Z[OV43HZZ7]J`^
M5M"OW$4^RB='72_M0'RMH5^XBGV43HZZ7]J`^5M"OW$4^RB='72_M0'RMH5^
MXBGV43HZZ7]J`^5M"OW$5^1^2AM'9A9P`[/W/]Q7(/W6OJWA@;"O8H=^1N(.
M!3!!L+=NY*Q9EP[]]@#O;D;]B9A>5(ISB#%DT;F]0T-\NQQ!).A:EBPMP5MJ
M.011H>$K>I7E)TA:U0B(6EICU9:5.!2:4,\!!(3+%AN92H_]J_ZF!M$_S(=4
MO[%9G72$7X_T![EJY5!4\*5S*+I<CNTG88"I?FQ/,GN%L37*):TQDY466\N4
M<C;W((HT/[TB0B.4-S,Y2>/(G)26!(H>FTLT2LJ8<6TIBKHPN&&WF=9Q`R.&
MA9HT:+M5[2T-;=GEZ%`-5K?J7Q:_/D30SY$:Y06+QIB9-/9<4<LJN<B(Q^C;
MW4I_.1L#-!2++YIVB[SD?-.I/,D>79"8_P"$QZB$BQ_!ESW>T9-RLRP5@QZY
M:I,C-K(Y(&)9GDTB+7R0W*4+*XEH<Q2T$RM(3SX"SC?.%Z\-46!=1C+@I#AG
M%1V/%4`87M*^C4L,=9;,K*ZQS&#1',/,BMC5K54NB6-GR&3R5LLWD'E4^/Z_
M+;X!<PH#T)RIRCIKL>_(1OI7=;7P_P"-_P!F"FMWVE*5U(_DKWU:[49\'^G+
M]AT-K6_I2E*D`V4'JG^SL_/>TM?MJAE=WO;B_2+NWJM*U@?)=GJ.\S_.`P#W
MP/-=4+2E*54/';JV[M=OQY%X]0[T5]3/W^)?+]3_`-*5$!M$#2B\I0>QAI1=
M[X_,O:QA@`7O;S2N=M]K"%:][;^=OMSM]8`<TIOYRG_MROKTYI3?SE/_`&Y7
MUZ<TIOYRG_MROKTYI3?SE/\`VY7UZ<TIOYRG_MROKU]%G4)O+AG_`/J$_P!U
MVFWV\KCNY)=UOY?X:E5U!Z^(CB[4_"-);/(\8129.,2AF2<FY%R_(5C/!,;Q
M3)623,5XABJ)`V"1GR[*N;9TVR&/P>-+9-"V5I2,:Q\>W]6XN$.ALSM9A_:1
M2K(#EJ299!B=MC[]CF6`B6*V0U^5MYSA+EF3M2V.P8ZRNN=2+IH;*(K$=.-]
M2&1W1&48VQ#`F2X[(E#8:6VI'672JL#JD?6-G>D#DU/*!W:T#DB>&-46M975
M*N2E*2')H6$G*2E;6N*,"J;U)2@\!Z0TDT)IEA<G>%;R2%ZB=KV^#R!?MOQ;
M73DF?;#/Z8O]Z]?CBXJO"\Z@<UR#%\;PL]9.F3EBN()36^.094]*3(^UMALA
M7RT+02DM<(C69-*75UD:!G5&J&MN?7-P=V]&E7K%"@SW)CJ1SQD%9!'&<98G
M4K78S4-ZV#JW]_6.:B/N+62S)4+LE-5#,&>\D(HW'&ZSTONL=C&N/,+6<M-;
MF9M2I?BL6;\O1F,9%AC!DF:-$6RV,@S);$@D#BG;IL:0>I4!-D9`3O\`K(XP
M:Q8!4<<+EJU,K5HUHU"-2>G,M9>][WO>]]][\^][\=[]&]=I[Y#A]25DGYW^
M:N\W#];7=*5"!Y)"]1.U[?!Y`OVWXMKIR3/MAG],7^]>ONQ(;>5*8V:[-*=^
M:RW]F,<F-6I<$25Y0`<DMUC4I6-*I"ZI$[BFL:C.4MBU&X$%G"-1*DZD!1P)
MW$NEW3XTZS-HEC#'F,L-SR?XKU]0S"&G72MEG)J^&-,KP'),[Y3Q]D-MQVYO
M<VC;U,LAQT:'#,'9P>;!;-F2.3:23MG1/3TRC?8[ZN>M+F@)OCN3L`8?D8EV
M3<&:E<C1F59(2AE#Y.BL>XXU'ZF83,GU]$$L6/Y-$);B,6C2':?&R*A3R*?Z
MB9/(VA.4@1O;YS%%MK"T_P`^T]9?71^;XU;,5HY*2ZO\,BK++T4];6U@8IC*
M<9.[$;+T#DZ$/4GA,]Q_,L?Y"-N>0(C(<5E)):)(BLB+K%:NT]\AP^I*R3\[
M_-7>;A^MKNE?D?\`(%_1%W+UTIFVO]5MVC'YX.<N_1?47E*4I4__`)%X]7$T
M5]7/W^&C+]=OP'BMU+=RJTI77@^3A?12V>/P?ZD.^K$-:(M9=:4-/L/SXAU/
MFRF125A785TGY7S[#B&!"TJ$C_)\<KHD$ICDJIR-N<WL*EL?'`\PYI1JG(]<
MG1I0F($QBA8#*-EV;*]ITT8<S?D19*$Z[/**-9'LM8E4520K3+IDDV:[8'C^
MI'/A:\UPF+TPRZ>(GY*SQYB9X?&6)B3QR027*Q3G,F:'A]K4=L[([C#*$@8L
M:.>39Y&F_&JMP;X6UM+5-LO&YC5O64&F*XT$AB3<E(7%.L$Q\@U.R!V21LFT
M.P-+6,2P"]R=HL]RB)F]MU[VY_.O>W/X^=SN+\'4_!7[*_E7_JSO[H==[AI*
M]*UIN^`/#/[-(O60E*C_`-J_ZF!M$_S(=4O[%9G72$7X_P!`>Y:J4I2E=CWY
M"-]*[K:^'_&_[,%-;OM*53?;\O6O]%=23Y*\M>^VMU%[MWH?Z<K\\0;?ZCH;
MT;VZ'%Q]>U:X'(WZ(?C@^M3D;]$/QP?6IR-^B'XX/K4Y&_1#\<'UJ<C?HA^.
M#ZU9_P"RA#>VT_V=G%Z=[2WQ"#?_`%U0SH7O7=ZVO;\O&+\%^C?\E5WV_+UK
M_13?;\O6O]%:P7DNOG['B9[O;`8!X^=_I"\]'=_\?AKJA^1OT0_'!]:G(WZ(
M?C@^M3D;]$/QP?6IR-^B'XX/K4Y&_1#\<'UJJ$-]]N>'CM_G@Z/]*NWV\B\\
M[8>:*^IG[\O_`.2^7^AQ?IJ?^E[[NCUKW[E4WV_+UK_16C%Y*7VL>O30!J^T
M]XYTH9H:<:PV8Z:_-O(VAQP_A'(@W"3CRK.(_P"6073)^.Y>\H0A:69`E"WM
MS@D;+W+,4B1C5FFGWUA_LEG;-^VLB_R7])'[D:?9+.V;]M9%_DOZ2/W(T^R6
M=LW[:R+_`"7])'[D:?9+.V;]M9%_DOZ2/W(T^R6=LW[:R+_)?TD?N1KF6._)
M(FV.?9_!V9RU41HYN=9E%&Y>27IDTF$"/1+9"VI59%CB<)`/)L>F--)N<084
M>4$=S"#B3@@-!V86I?9^I-0LWS(Y%Y#)BV/M46*L0X;U*1`^&@D3U(8U@V>S
M*9PI^QE*%#\B2P":*$,_E41=W9TCTQ0E(QQN2,+8TR6-B4/%R=1^CEOU(LN8
MFZ235:RK)O!$\$QVK:6LZR3'J(QWC,LE*US;!.P"I@KR))HG'VJ=C$:R&.>,
MV-L@:`UL":\N[O=?2[@T&G#"46Q)YHA2E0S.D[D3D\`:[LC<-ZR/D66Y-?6^
M.L5UKH-@A[(\S%>QPJ/FNCF<Q1)M96D]R7G(S%9T87DD&^_8G:]O@\@=^?:]
MN+-^+>CNZW'?\%=.68&_+#.>'^6+_/!_XK_^:OQR-^B'XX/K4Y&_1#\<'UJ<
MC?HA^.#ZU.1OT0_'!]:G(WZ(?C@^M7:=^0XN=LE9)O\`;?YJXN?Q0W$%OP;_
M`/YX[<ZMKK?;\O6O]%5W_A_]K]SCJF^WY>M?Z*A!\D@WW[$[7M\'D#OS[7MQ
M9OQ;T=W6X[_@KIRS`WY89SP_RQ?YX/\`Q7_\U>XU+CVAS;G9,6D.4-BY(X$%
M+24ZU&:<B4%J2BU:,_DB%:89A00GICPB)/*N(HT(@"%:^32S65GA;G/)FIL3
M]'4.H'*<B=)B\Y89(;$X])H_,I`:K/DDRQ\2Q-K>Q8]ESXH7+%ATGB3,V/C4
MX*372-+F)TO9;:RS+DR9QR)JX;'W:[&UN$L89HX*6D)*!Z7/46*4AC-U3XGN
M!R-0Q]4L6.K2VW461)7I48[\I&O+3'I^?:BM2^7]4TR;ISF*0('M[:&=<RMH
M&ID8XRU(R7N82K(\I6$,["E0MX'.8Y)G<XR#*G"Q/-#S+I:^.AP@!4E)T]@>
M1OT0_'!]:NT[\AQ<[9*R3?[;_-7%S^*&X@M^#?\`_/';G5M=;[?EZU_HIOM^
M7K7^BOR.]N0%Q_R1?@OT+_DKI3MM>&]]K9M&/Y/IP<Y<8@V_TS7W_#>W_P#>
M=QVO47O(WZ(?C@^M3D;]$/QP?6IR-^B'XX/K4Y&_1#\<'UJ<C?HA^.#ZU3_>
M1>;7MMQ-%>_=QY_XA!O_`/C1E_H7O7;[!O;=;CXK?@OT.I5=^_H]:]N[:JWO
MNZ/6O?N53?;\O6O]%=>%Y.$MORGL\=WL?ZD+\^]@_P"E6(?_`!;NMQUHC\C?
MHA^.#ZU9-::=0X-/0LY6,A9,S*S9IWR?I]4@,DIL=O'4.3"&DM5*4@T[2[7<
M7)G,9DAR%N4A(0*;B.+6#&`8>0OJ#:!28K#I$,)@B(K*@=)+CH9694#)QV:7
M33@MR.'(2=O<L<V8[$*LD-:?_L`W38R6B9"8*0W7O!13AJ;YL3X].6OIZT[R
MQ@4-.-VQXQPRXQ#`3(&5*3F)R5/JS(F+LR2;(I<R3LR\U/+)=D[$,-"^GF,"
MRPL5MR7%B$Q(D;FI_182Y#FCMDJ>S;(CZG:D;U/)=)IF[I&5/9`SIG25/B]_
M<$[4A&>H$C;2%CB<4@2B/.NG2`))N:9<%QBXD6&_)7YX?M9W^<&__P!H?X+7
MWUWMNDN^[2UINMS_`$`\,\5KW_U:1?\`#:VZLA-]OR]:_P!%-]OR]:_T5@!M
M7K[]F#M$N/TD.J7CM>W^I69]'=72%7#?G<\/$'_.#;\%NC>J<C?HA^.#ZU.1
MOT0_'!]:G(WZ(?C@^M3D;]$/QP?6IR-^B'XX/K5V//D(_G:7M;6_V?\`&_%_
M&_U7J>AOK=\WV_+UK_15=^__`/E[=VO$>2!20<G,N:$!Y1A(Q$G&ISK`-`(L
M5RCR!EG$F6"*]RS23`&E#Y$PL81A"*V+UM(&*PVM:THU%;K6M:V_5IJ=O?=:
MVZV^]\LWO>_1O>][WOS[WO>L?I_LC-G]EB4+9QE3`Q.3ILY)T"1QF61IYD>=
M2QP2-20M`UI5TEE4K=GM8F;$)12)N3J%QA*%&46E2@*(`$NW#.!%V77M1X#V
M=)?#-.!%V77M1X#V=)?#-.!%V77M1X#V=)?#-.!%V77M1X#V=)?#-.!%V77M
M1X#V=)?#-?68-C)LV(H^LTHBVF.-1F31QT0/D>D<=D4T8W]@>VI26M:WED>F
MN0I'-H=FU822K;W)O5)EJ)444H2GE'%@&')_SH.++WO>\HU$WO>][WOY[/4[
MOO>_/O>_^5CCO?GWIYT'%GXT:B?E9ZG?WL4\Z#BS\:-1/RL]3O[V*X-D39Y:
M8,OQDV%Y:8<EY4AIZ]`Z'Q#)>?\`.\^BI[FU&#.:W(Z.2W(CPS&N#8<88:W+
M3$0E2$TP9B4TH8Q"O8/@1=EU[4>`]G27PS3@1=EU[4>`]G27PS3@1=EU[4>`
M]G27PS3@1=EU[4>`]G27PS3@1=EU[4>`]G27PS3@1=EW[4>`]G27PS63F*=#
M.GK!R"*L>)&K(V/HK"G(+K&8-%\YYK:<>-BF[L8^*2@8^1STJ%GH'%V/4KGA
MK4L9K:\J%:P;HE5W5J>6Y?5:;).&8EE10T*9*[9*;3&4E:0C#`LP94Q@0<!>
M8F,/$YI\=3",$/!H!)2K)#G4M8<A`(\M&,@M2H";;/SH.+/QHU$_*SU._O8J
MRF3ME7H<S:[ML@S1B)SS"_,[9=E:'S*V4<K9'>6EF$L/<!,[6ZS29OB]O:A.
M"E2O$VHU!*(2U0>KN1=0<88*VO`B[+KVH\![.DOAFG`B[+KVH\![.DOAFG`B
M[+KVH\![.DOAFG`B[+KVH\![.DOAFG`B[+KVH\![.DOAFO*1L2]F"E/(5)M)
ML&3J4IY*E,H(<I02H3J4QH#TZA.<4]@-)4)SRRSB#BA@-).+`:6,(P!%;+&^
MD+%HKW$*4ZBA"%>XA"%JTU/7$(0KWN(0KWRS>]Q"O>][WO>][WO>][[ZIYT'
M%GXT:B?E9ZG?WL4\Z#BS\:-1/RL]3O[V*XO--!.G?)$7>8/D5-EW($)D2<I'
M(8;.=1^H.7Q)_2$JTZ\E*]QJ19*<F1W3$KDB1:4G<4*DDM8E3*@`">G*,!CE
MP(NR[OQZ2(#V=)?#-.!%V77M1X#V=)?#-.!%V77M1X#V=)?#-.!%V77M1X#V
M=)?#-.!%V77M1X#V=)?#-.!%V77M1X#V=)?#-7WQOLZM+.&XZ.(8?C61<31(
MQS6/0XKC#/6=,>QD;RX@3%.#P-@A^0V9H$ZKRD2,M<Y"1W6K"TB4"@\P*<FP
M.?>=!Q9^-&HGY6>IW][%7;:<4QEFQZMQFD<I\;'EZ1W1GN#EE'([Q-P%/1QY
MZL:3([K*%D^0J21J!V;%:.1D*F<H)1+4:C*()`"TGG0<6?C1J)^5GJ=_>Q7%
MYIH)T[Y(B[S!\BILNY`A,B3E(Y##9SJ/U!R^)/Z0E6G7DI7N-2+)3DR.Z8E<
MD2+2D[BA4DEK$J94``3TY1@,<N!%V7=^/21`>SI+X9IP(NRZ]J/`>SI+X9IP
M(NRZ]J/`>SI+X9IP(NRZ]J/`>SI+X9IP(NRZ]J/`>SI+X9IP(NRZ]J/`>SI+
MX9J^^-]G5I9PW'1Q##\:R+B:)&.:QZ'%<89ZSICV,C>7$"8IP>!L$/R&S-`G
M5>4B1EKG(2.ZU86D2@4'F!3DV!S[SH.+/QHU$_*SU._O8IYT'%GXT:B?E9ZG
M?WL4\Z!BN_'*-1/RL]3O[V*QGD^QLV<$VD3Y,)IIK8)A+I,YJGN2RN5RB<22
M32)Z7F<M7/#_`"!ZD:YW>G5:;_TBQR<UBI:J,_CGGF"Y]?"X$79=>U'@/9TE
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M=4H2[W$4B<SU20@_<I)(`HM8VUI/.@XL_&C43\K/4[^]BK/Y1V76BO.*EE69
MLQA(,R*XTG7(XXJRSEO+N2E,>2.AR=0YI6(^;3=]-9TSDH1I#W`AM&F*6GI$
MQJD!IB<H0+5<"+LNO:CP'LZ2^&:<"+LNO:CP'LZ2^&:<"+LNO:CP'LZ2^&:<
M"+LNO:CP'LZ2^&:<"+LNO:CP'LZ2^&:H+8A[+D81`'I&Q^(`PB`,`EDD$$8!
MVN$8!!N\7L((@WN$0;VO80;WM>U[7O:LK$.C+#S6A1-C8^9^;FUL1)&YM;D&
MJK4LB0-[<WIBD:!O0(TV52DR-"A1D$I$:1,44G2I22DY!99)8`!]KSH.+/QH
MU$_*SU._O8IYT'%GXT:B?E9ZG?WL5\E_T18.E;$\Q>4K,X2:,R-K7L<ACDBU
M/:CGQ@?V1U3&(G1F>V5TR@K;'=I<D9QR1P;7!*I1+4IIJ=40:28,`L8.!$V7
M5MUK:1X#:UK6M:W-TEYUK<ZUK?\`7/%:W.M3@1=EU[4>`]G27PS3@1=EU[4>
M`]G27PS3@1=EU[4>`]G27PS3@1=EU[4>`]G27PS3@1=EU[4>`]G27PS5YL7[
M-+2%A!`[M.%(+,L.-4@7)G1^;,3YKS1C9N?'-&ENA1N3RAA4\8TKJX)$5[HD
MJU>2H5)TE[IB30$7N75S_.@XL_&C43\K/4[^]BKUX]QXQ8S83(Y'ETP<$!CB
MJ=!'S>?3?([S92K`0`TL$@G[_(WPM"$*<%T[:!P"WI!B.&F3%#4'B,YU2E8X
MZO\`.#SIFTN9_P!1+#%&R=.&#,2SG+5X:[R%7$T4G08_8%TG=63S2(F&3GLJ
MI>V-JHA`ONP.I!2X2>RE-9,(TTOC1^M/3M%W5YA>1<N02+Y"A,(EDQR$RV6/
M9C1'@XU@46R7E1N2R!4RIFYS=<=P:9Q>9RF-D'BF3'#9"PR=ZC;<UNR0XSGN
M&=36"-0ILQ3X8R9&\@JH"IC":6I&,U996S`FT91S*%N)Z5P1H5!S%+XPO3O4
M7D2,I3'W]%92-J<U8D*X":/N?;5-MQ>EGF5)ABIT\[HRS/6ABF'2UK<R[S20
M9'T+P#*,]R9=>PKP)6=%$YW?!>:XYCUR2NBI62N@C<Z2$DEMF'(Q?*;3-J=E
MN5\E98PKDZ)0Z-9#QM`L&9C1.&.9DIG,&E&*]0S?.+PQ<C=US2RKDS^QR?&,
M_C#RF&D-;7EM;([-6164BE)C#'\U*4I2K29\R*Z8@PAEW*[(R()*ZXRQI.,A
M(HZZ.JEC;WXR%1ESDPV94](VQY4M`',EK-1!<BFAT$A-/+47;E@"Q$#PI@.O
M67HY!I'1ZA,21G',-UM1(MPPSD>"9)<9S'&'(X,,K,]J,29632:`X]615Q<,
M:,$V>8?-6@V21=_/@[^UOQ<+<U$>3OM]CM>6D9/'97)S\XQ(E#")"DB\I0&D
MOY<G:'=P@*[*[<`^%#9;30UO<L4M3QE)N>TD?4L:_&;(^9`1N1T1975X1WGE
M>3T*;"\CS#CJ[#DAO3XP=\EP83?)24L7GB$J)GRN-703-O;Y"C(8I0E"B$ED
MB%N>TY:!<6YID3B78!)N"^9=HL+%6SM@6MA#BDZ7S;(FGK'F=67"K9)K)PI$
M$IA<1F\Q5.LM/:>310O&C-)AJG^4&L@#EQA3.QMC8;)Y4PLZJ3NU]]M_Y;VZ
MU[V_]JK2E*5\.3&NI$=?3V)2@1O1+.YG-*MT0'NC:F<BD1QB(]P;4K@T*5Z(
MM0`L2I&G=6T]21891*](8()X(VM+.TAA&2<;:.R,T*36;-FJ'&.#9*>7",93
M]+B1HR/GK"DFSW#L8(94Y*I0F(>%L`A$R<D%ELA<+"*8TI;ZI8'B2QQD<;V:
M?-H#IKU-25'%L82"8^63OBTS,L:-FN,Y[CMME>/F^>*L821XC;E-6%F2.2B'
M3XA-&)@T6,*=X\X.['=:BLF=T:@RPF1-<N38QFO)EV2'1=;@7!>J[2CHZGI1
MPUY\]E\TU4,F(5Y>0HBYIEH4+8SXW>M0^&V6T151IW538J\Y6$O[+=*R!MQ/
M0UM$Y/J;R=B",R%=B1T;-2&E&::I8Q%\?'N)<ZT].&,LJP;&<[PGF,AR?W4]
M[D#8LR8Q,HI(*/0`])D"`Y1CRN-6():RVN7RE*4KUEG-%TIX4AI1"H98BTQY
MY`E)!"@RW*R3CDP#THU!11H@F&$!4IQ'`"(H)Y-Q6-#"MCG:$:E6O3AI>U>9
MEC>&93AO-&:(;@S*;)B^+3J$S3$;CEG4,LTWXSR.R*Y1D?(C7D2+DS]7#$<Z
MBAK=$'UK9Y*X25@>WLZ/@B[SEFGVF^D!9*Y3!4&1CW.8L2.'KX_'F=@<WA9D
M]+/LH'X5B(L5&M9:M'-#G?*B<<2$B3J4:]JL8ED[XE:X0M22<[*[$N8H/FN!
MQ;(D)5/`&.7)EQ[8@ED9D,$E1!K2[.3"\(7:'3%M99,TK6QY9W1`H*6MA99@
MD8E:(Y8W')5JC#_"VKS(LNTO2#)\PB,3?,U!S]JIP!`<>P,]V9V"<R_">H3,
M>(H4B)72-8\.C6WK(WC,$OR%)E5CD\>8D$ME!;22A;26BU^-%V99/J*TA:7L
M^39"PMDQS3I_Q%E25MT5)<4\802.>P1CDSTCCI#PJ7.Q3&F<7)02T@<UBEPL
MA`1S:<-1RR]9,TI2E*P9?=9C?`M3N9<*Y.;8O$,?XSQ;IPG4>GI#[)7^7S^5
MZEIOF6`P_&3+C-IABE>ME);SA"2&-R&+NTK>Y20[-X6Z/I!MCL('V'S:&Z*H
MXWPUW>-1^-$K1/H!CO*L4=PNBQ2U.>,\K2T$$@>03'-&WJ$+9"WN8F%1L4F>
M%#>SM+N:6C?5;688#DN8:E\^N6&"<-1>(QLF59-U#YI:,%XR;W,Y6CC+=(%,
M+G63)'*9BL0%'.9$7B&.\9S1^5%-:<Q:[N2-J84Y[?=U&Z((\'?:WJQ0O($V
MC^'VD%M,N$G+/6K&(2B?D-4J8(Q#-0N;=.646'$):1K5I)J]PJ0:<LO2E*XO
M_F=9Y`A20"+#\I'V>*5D2FH(.+4DE*"A<D4<6`TH>X0>3+,#898^1%8(@\F`
M01<B*UA!W[A6M>U[5Y:4I2L"\E:FLZ->K);I>Q+B/%DP5D:;B=0Z&1S[+DL@
M-G$0<F"QHH@AB)@Q%D,MM-/66`Z))6,]:G+*,YC5Q\%BQ+K^OBG:1::YYA>"
M9@G$D,P;>42Z5XRE,/RC8"-VQ=E3'N756`)]"\@O;)Y;1./)F'-B(>/$$W<W
MM!!Y.\+F+RA?%(GYO(,R+A.I3!61LCRK$4)R=%Y%D>&(W9Q?8D@5GW<PML=E
MZ['LH<VKER8E)(VR)9!;7"`S!QC2IX11*<HE4/DA[7(R#&T/%)%GYZ8=8&*=
M,HH4B.CV3M/6;\UD9"\TIUG-`\89R!@Z&*X=>&V8>5#1NB+-2%X!)!2:QI9[
M68UA8;V,$X6X;A;5R7FC5+J*P&T0=4W0["6-\(3B,924NH#4N5S,HR[/$+DA
M\:90)`&)HE$)'A-PC[;)E"PP,Q=0/JMH26CK>T/+YF=2E*4KUU8E`4I]TEB;
MJ^5#"ELIN8%/=2(-PI^:+E6N;8CEUP<NN7:YEB^2N"UQVM:\<VFK:08HRMB7
M",QS([P?"^1\Y+[I&+&:.4/DU):;.^9'_!<!N[RN\08$[27D;(3`9%X8OE+7
M%6Z2RY:5#8Z>\/R<XD>0F,-9FF#,\]_@PQAF:'S*=B99Q("(ZU'./-:YKQG/
M!XQR,<V'+&Y(A=3X%/+$1J9(&Q6K<8RO<&D3RC1I7EJ4K<?LV:][8MRQD^,M
MD'(>\<:;5&EU/J)EBYT7-CRUCU:3\Z#Q&\`;0-A[8]AQBU^5N1\H^7+BW7'$
MGI$WQBRM_)4$U\C`NT&/R]E;$#"XP9C9\8ZG;:I4V`I(U2M4[S,A\TCY%,@D
M\8<IQ<;*F;&%9*&],Z2ED&POCGYE5;&Y0:7D%OQC>M52:TI2E4O?=:]^A:]^
MMUJB#<-I1DZ!XBS#J7RG@*()M.NGS4=F3!>:7_'V5Y#*,CPR'X;S`JQ`_P">
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MN$3D;RO1)J,=]6>E_$^H)_@@<9/>16I\6NT`#("94*).#),9)%%;(=(DJ1$C
M>%*,Z/C"J7($]FXY2(WRO.4HK)U1V5=*5^.6%^N`^,'Z:<L+]<!\8/TTY87Z
MX#XP?IK$G6A@G(6IO"T@P1#LBQ*`0O++/,L9YQ.?H8X2Q]=\09#@4GADA38[
M<$,ICZ6)3YI7/39(F)[?6Z4L"F[2>RNC'S.Y77)<$\X;,[->7M1$RRS;4I!D
ML+=@:@6.&1-[Q7*G5]A$(U":2XUIW>8RD=&[+++%E`HU+XJ7DI,])X@@?9>%
M_<&:8.B]4RQYS2W)QWLPHBF<Y&#-,\<,@19UPYHNQNU-&/9#ES`SXV2;2!`L
MG0<F9+)AC#++&_O+5.@93>7"\%5JK,C#=O;BUYTL7%)W5'R%@V?Y[!DUE=#9
MZW23#>,LVZHM3F)L7/K::,8\OZL(QD6/SE@R&ZBNM;W_`!?'CLS9I7QML3LM
MWA2#(J9O>35!$-),D]X-'VBK&VDU9EZ81UNAZ*?YU>86NF@<?Q-!C_'D6B6,
M(D5"L4XFQK"&TXY,P8_QRQ"=CF^ZQ0M>WR3RF725Q4I"7=O8&+-CEA?K@/C!
M^FG+"_7`?&#]-.6%^N`^,'Z:<L+]<!\8/TTY87ZX#XP?IJTF?,?..7\(9>Q0
MR/S9&G7)N-)QCU%(G1L/?6]A,FL9<XR-Y5,J-T95+N!L)=#5H6PEX:A+C"`)
MKN*,!@CP1Z.&S8D.6X?A+'>I'.37)H'IPPK*\8XDCN(H"NQR85/)EIX?M,3E
MG28.\JGF2#7N7QW%\QFZ3',9:D+#&XF[RYU?7DR9.J2/*6.VK'LV=1$:08/R
M1'LTZ3(SJ:P--5-F^20W1^KAN%LL8R=L.OV#Y(ES'CN.YE13A_R2[,;TGFC7
M)FW)R"+1"0,B6+L,0#&'B2J';/6VD2"(3\ASIL>I,IS?DC"AN'I%.WV=Y&5P
MM<7>(-$7)?2,%I9LGPU%5%S6%K<5)4`A<46"L6L0I7-*6YN)RK$S)>RD@&8M
M$D)TPSK(K^FRE!]($2TB-N;H1(\O09A4QJ)-4=0%/#IAN+YB9XU($3LX1=KD
M#A&94Z2``G`A$G,>%29I;>4RK1YF;8PQ,T<:SW`UM86Q"T(#'I^>9*[F(VY.
M6E3#=)%)'%VD+\XB)*!=:\OCHXN[FHN8L<5RI6<:>/['+"_7`?&#]-.6%^N`
M^,'Z:<L+]<!\8/TTY87ZX#XP?IIRPOUP'Q@_35J,TPR;Y#@*Z,XXRTY88E1[
MM&ER:;M,6B4V&%M:9`W.3_&U\<F*12UK6>8L:9PB[L<E.:WQN1.IKBPO#8[)
M4JD,<@=D]$6/*.G&<0;/^1X_%-+B/2TW8JQ\]Q^!35,QM>F3'>3L4%L:&5/+
M61(FEBRC#<FKE>06]F&@$OG36BFH%`U7*V]+R;%VRJP9#4V/([D5U)S[CJ"X
M"R;I_78RR]`X%(H3-X]DO4)&=2)[Y+60]O/0+WJ,SJ'1PB-%!2!:DK>@LI4H
M5+YREV3W!7;.O#H<B)GB+KS(3B!1DO3WFJ0X$C#0V-<%<<J:58['XM@QX9;H
MC4H(G&8\UPC&)K]"VIJ,;I`OQ)CPU,M8D265-TNO1B?2Y"L=YER5J,>EJ27Y
MQR>PM$)=9@%@:(TVQS'<??7F2ML&A;`W75&-+:XR5]<)9-7AV>9!*IU*C4BZ
M0/AK3'H>PQK*/EA?K@/C!^FG+"_7`?&#]-.6%^N`^,'Z:<L+]<!\8/TTY87Z
MX#XP?IKUU5QFICRTRD@A2(HRR8\TNR@HE1R%^4'&)['I[GEE'<@8,FR@BYH0
MW+Y<7R7)VC&Q3LT(W#(3@3$V0\Z9!R_AG3C/T.6H+BYZC^/HHQR+*3#/)!DN
M#S#)SE%&-/()D#&\XD%Y3"HJD=(Y$"I"RQM[E#+*G!A;CB>%$;*]0BQ&NP^W
M:M\NHF3'.2,?Y/T>N@(EBT3SID?L73^^08.2X*O*`'G@433<9N.#0Y=YN/6X
MB4K(N<=:3.+G.5F;L*TKXE9I'C?+&0X[$,RZEL<1I='6W4[/(%!+YD+(>CI"
MJ?4;!(VAB0G0J+JCI9)$;9"XJ8WQYB870YB1D&)A*#E-K(-H`P.WXK<<4YB8
M(IJ*9S,V:@,XQ]7E>`0AU/A\EU&9"F.2YJDCJ6S:<C2)D3[/9(W,ZZX+N_F;
M/2-+HM<AIC%BF\^E+3=C;1_IWQ%IMQ4F*30O$4(8H<W+#$+,VN<A4-2`A.YR
MN0E,2)N;#Y/*7`L]]D:Y*B3@7/"U6IY6'EE@VR%Y87ZX#XP?IIRPOUP'Q@_3
M3EA?K@/C!^FG+"_7`?&#]-.6%^N`^,'Z:7,+_`8"W%_G!Z//_#^&W._)45<X
MT0:AYW*\J946ZCL?M.5IS/\`3<UHUC%BF3-4-6:<=-.;\SY0C>.)&WH\I$31
M%.95&LYOT*F4ZA,WCJ5S!%V@Y,SHF*43*.+,9&C8[9$(P`'"KKJ1@AJLO9^*
M-!R61MN''U(B3H"\UCR8U9*&PGY54B//31P">-*HB6Y(DZAWY-](?DK<`N/"
MSIR'H+A!\C:<PX@>WV&YV8-0C/J:3NLOR/EG(^/GN?$Q;*$$E,</ALRF\A;X
M'!Y?"<T9&8S6W%:")$LRA;'7(AL<$T70,IED'W918NG^*<7X0RF;")W%&:22
MZ>YFR&ZP=N49GRJ[Y,U#..J#*V,6*8J1FJ,8X4R3EI>!3+F)H6/+\X0M(&'(
MW!K7*39B"72PR[?_`'`<=[W_`(]N.]]_1XOP6M^"VZW%:J\L+]<!\8/TTY87
MZX#XP?IIRPOUP'Q@_33EA?K@/C!^FG+"_7`?&#]-8%Y*TTYP=-62W5#B7,&*
M8>K/TVDZ>4,<GV)97/K-PA9,%DM1.S%K!E['8'(TA7<#6DB@B$*<PHNZQ7(1
MV,$A#BBU;)NV-Y)BM=B_)&+Y<QBC$EC>I$.I_`L<SE(\DR299]F.IJ6YSQPK
M`^Q2.8WS#(<IY)R*->G=XW-<=`9WJ(ID\3`3C9F0.UX<$;/V0P7'N0]..8<O
M-V3=+UWJ?BP_'(8TS[#&:FN*Y`S2NSF6SY4SK!\J)95)7&`OJ[S)Q=?C8&+&
M^11DL];D%IDCNL+L@O<Y:2RK9_T_9)CTN(;,8X/TQYLTRBQ^YF3:031_C^8'
M/"CB2]DY:<)Y>1HW.,%8-84(E[P3)))(+OSJZJI*A>$:18=Q/3[L]\1Z:M2D
MZSYC613Q.TR?3_AG`D>QR_Y4S1.&J)-6*)+E1[-7%J\@Y4ER)V;W-OGD?9HW
M'U3$4GQX7%G55%E:<<ZDA1V?_+"_7`?&#]-.6%^N`^,'Z:<L+]<!\8/TTY87
MZX#XP?IIRPOUP'Q@_33EA?K@/C!^FK<Y919-=<?R!'A>50F(9-N!M4Q1]R%%
MG2;PLA6@>6Y>L12*-L4GA[RM;WII3.#()2UR)O7-)KB4\IK+3&\+>KB#E>RD
MRD1'-/\`",8:DHFUPC"37A9\+8,@XQD<DLIRWB/6='M6ZJ:-YL/RA`TBAMEH
M4[YC<#3,D$O5P=B$F7PMQ:W60S=<\W8B>S.5@DL`49'RTVRF&QUWVC2R7L$1
M:)[C*0RAKV@F<V?.*UL8YY%,I))3!5.,7%E)CI3VQ.-W.6MZ@Y84;$S;#2J/
MJSK9E11T<I;$().7&-X)S.R:6([FV(R-YF\]G:QITB3I1,843#LD2N6N\A&I
MR0S";L;9.<9TNDSCYD61$MCRLA[.4&5>/&FAS'$6U7R/6"\1[&K1D,R-Y!AL
M(8L:0INB;"Q)\KS1OF>6\E2MPY"[K/<TY=7QN')Y?-%Y;:G;V6.ELS0W'*WF
M62*29Y<L+]<!\8/TTY87ZX#XP?IIRPOUP'Q@_33EA?K@/C!^FG+"_7`?&#]-
M4N,N]KVY8#GVO;^6'\/Z;U$89LY,F3#%F6=.>4<]P9PT\9ZU*9@SWF6-P?%$
MAC>09I$\OYC4YC>L#DS=WRS(&F/0QP7'^8^9RE!#U,HE$)-<FQB!!G-SN]H[
M?N^R?E#W"M16+KY?PQ'8U+7+(,ETZ9.C6FIH3ZB,<R&<:@(_J<96[+N35\Y5
M%Y6@F.\E19E9T45C#7C0R?P-"UMD[=%#PQ('0><D%TJB?77%^7-2TH33S43C
MMT?7Y`^8=?,N80PTT+I`I"H4-;;AIHRJYLDS:T]PW/NXYH.R7(ESDJ7*1."%
MLNUL;3P?'F@R+(VK,S'F"5+)PW9#UESS6'"3L?2+*&$7['DAF"!"@;F8<HQ[
MDIKD+\X1DLISNF?B'%C;EPG0L\<52+FI(M'<W0SI19-$NFV$Z>&6:/<[2Q)?
M+W(V2O[I*5IRU5+)>]R<PM`AELNFBI@;D93J0B`SMKP%I&L3K7HI$G7O3B(W
M+OEA?K@/C!^FG+"_7`?&#]-.6%^N`^,'Z:B"X-W5YTZ#:!=H^B+Q7Z<&[J\Z
M=!M`NT?1%XK].#=U>=.@V@7:/HB\5^G!NZO.G0;0+M'T1>*_3@W=7G3H-H%V
MCZ(O%?IP;NKSIT&T"[1]$7BOTX-W5YTZ#:!=H^B+Q7Z<&[J\Z=!M`NT?1%XK
M].#=U>=.@V@7:/HB\5^G!NZO.G0;0+M'T1>*_3@W=7G3H-H%VCZ(O%?IP;NK
MSIT&T"[1]$7BOTX-W5YTZ#:!=H^B+Q7Z<&[J\Z=!M`NT?1%XK].#=U>=.@V@
M7:/HB\5^G!NZO.G0;0+M'T1>*_3@W=7G3H-H%VCZ(O%?IP;NKSIT&T"[1]$7
MBOTX-W5YTZ#:!=H^B+Q7Z<&[J\Z=!M`NT?1%XK].#=U>=.@V@7:/HB\5^G!N
MZO.G0;0+M'T1>*_3@W=7G3H-H%VCZ(O%?IP;NKSIT&T"[1]$7BOTX-W5YTZ#
M:!=H^B+Q7Z<&[J\Z=!M`NT?1%XK].#=U>=.@V@7:/HB\5^G!NZO.G0;0+M'T
M1>*_3@W=7G3H-H%VCZ(O%?IP;NKSIT&T"[1]$7BOTX-W5YTZ#:!=H^B+Q7Z<
M&[J\Z=!M`NT?1%XK].#=U>=.@V@7:/HB\5^G!NZO.G0;0+M'T1>*_3@W=7G3
MH-H%VCZ(O%?IP;NKSIT&T"[1]$7BOTX-W5YTZ#:!=H^B+Q7Z<&[J\Z=!M`NT
M?1%XK].#=U>=.@V@7:/HB\5^G!NZO.G0;0+M'T1>*_3@W=7G3H-H%VCZ(O%?
MIP;NKSIT&T"[1]$7BOTX-W5YTZ#:!=H^B+Q7Z<&[J\Z=!M`NT?1%XK].#=U>
M=.@V@7:/HB\5^G!NZO.G0;0+M'T1>*_3@W=7G3H-H%VCZ(O%?IP;NKSIT&T"
M[1]$7BOTX-W5YTZ#:!=H^B+Q7Z<&[J\Z=!M`NT?1%XK].#=U>=.@V@7:/HB\
M5^G!NZO.G0;0+M'T1>*_3@W=7G3H-H%VCZ(O%?IP;NKSIT&T"[1]$7BOTX-W
M5YTZ#:!=H^B+Q7Z<&[J\Z=!M`NT?1%XK].#=U>=.@V@7:/HB\5^G!NZO.G0;
M0+M'T1>*_3@W=7G3H-H%VCZ(O%?IP;NKSIT&T"[1]$7BOTX-W5YTZ#:!=H^B
M+Q7Z<&[J\Z=!M`NT?1%XK].#=U>=.@V@7:/HB\5^G!NZO.G0;0+M'T1>*_3@
MW=7G3H-H%VCZ(O%?IP;NKSIT&T"[1]$7BOTX-W5YTZ#:!=H^B+Q7Z<&[J\Z=
M!M`NT?1%XK].#=U>=.@V@7:/HB\5^G!NZO.G0;0+M'T1>*_3@W=7G3H-H%VC
MZ(O%?IP;NKSIT&T"[1]$7BOTX-W5YTZ#:!=H^B+Q7Z<&[J\Z=!M`NT?1%XK]
M.#=U>=.@V@7:/HB\5^G!NZO.G0;0+M'T1>*_3@W=7G3H-H%VCZ(O%?IP;NKS
MIT&T"[1]$7BOTX-W5YTZ#:!=H^B+Q7Z<&[J\Z=!M`NT?1%XK].#=U>=.@V@7
M:/HB\5^G!NZO.G0;0+M'T1>*_3@W=7G3H-H%VCZ(O%?IP;NKSIT&T"[1]$7B
MOTX-W5YTZ#:!=H^B+Q7Z\Y6SCU<EAO86V9U_&WO>]^2'"-$UKVMNM;D?XNF(
M-MUMU[\6_?>_/XJEYI2E*4I2E*4I2E*4I2E*4I2E*4JE[VM;??HVM^D5[!M_
MZWK7S@ODE?9XY"UI-.A!A8M2`,V/.H5?IG2JU^,8LG@P,AMTU<8$<I/D!62E
M"\,:$^-AXRG,MB-670#*4&-98[F$%2%.&JS,62,J:DL?:7<4PR>(])+S'H+D
MESR--GF%6R#F9]QY&,O*,0XR4LD9DR!`:P8[FL,,?)[*QB:TLTEK?%RHT>B:
MWN1)<93MM)@*=X5>,JX!:G&8N$3B^B3(TVC61"'[&Q<8@.L/,[/B=0$Q\LP/
MS8XS;$XEJ]5+61"H''3'I`9'R9:$U*\*&O.-3KQTC(L:%Y@69TAB/&]G^<1M
MSE:N[RF01=RQE*"H;D>\Z)-:`N&/V_'TC5(6J=/4X1QYCB"AQ;!R%R;DSFWG
MJN;XPU5Z>LT3^=8NQ9E6+SF=8S5/""=L$?,7K#8RX1]^\S+TW.*ZZ`MJLXM;
MR(A*M0)UYZLDM8@6B)\KW%`K4Y!TI2E+\ZU[]"L4YYK%Q-CN9/4&?TLQ&],*
MM,C7#;F%.K0W.5(D:XNY"D;J0(T%B5I-ABN2"X3+##8-[!L(5M<D:UE.*-<F
M#]*<QQP2GQQJ`Q^Z*H7G@F7`*(:,XI[RQVC&%)5#UC&2G1&Y(A6/,B/T$E:>
M7&W<GN'+8>9'0KU[8L4\+QEM(()-,R:M(?*V5NQ_BO3GD'#^*H'D-4_.<EDN
MH":95:7$0"H)CF/1A4ZG)@3!BD,)AS8P+)A)I^H9%LA;V9L9!HC%=WFG6AAI
M[EJ5R:\S8'789<],L6U'M,F33EU',%\2ETX619BF934)@!%C,;/?*2&=C=29
M,9+'&<741H$5L()!YWE>-H%HZC[=#7%\SS#FCS?2:<0J+MC@5($LB6S+&;RT
M,&1H@LBIS&&3L<I@;F^M)<PCL@9VIXCB986XNZ)(V!,6E\"U-:RGO`>H'&&&
MAIL$Q^,9'P;G+,P\HYMS(Y8N9(^+`TEQ*R2.-')"8-(DKD-V;<N()`B<2GI*
M<@11:0A5-)Q5TRL-UX7JZQ4MO#(5DN98^@.>7J&XAD<DP^W3(4M6M*_,JBS/
M$"HRZA9&93-8P_2@AR8HW+43&@2NIS<JYL1M"I*N1H[(:E-I!AG$$.FSAC:5
M8ZRA/<;3;$31-8*LF"^,&HX-.-34+TRS^<,+L".NR&5IL63.4.#+)/*(U4RM
M,W85D#EC_%WZPTY=U_/_`.CNT=CLK'GN$E,,FD4LBR-<<)Z)NUN\%R6P8<F1
M<Q1F,X5\`1Q7*4MB4`D3O/$L;9F:72R,,:YP)6R%G+6_7;=<FDITR$YXM39Z
MQZ"<,RO+[<ZLZYU/:BD#I@$286:&=4\.J-"P%/6-$:LAWE[-=U\M&F/B,D9R
M2[`0>YE^1KUM:7WQ'-5;-EEH=3L>"A)<N9F]FERR4-1V28Q:;X^3AB!$<'*W
M-3-X3<4SBB9G97%0_P`1+.D[84H8R#EY=^,=Y$@N6H-$\F8RET>GF/ITP-LH
MATRBCJD>X[)(\\)@*VUW9W1$8:E6H5:<P(RC2AWY_)%C"`T`P!YE2E*4I2E*
M4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2J"MR5MWY0W^**PK?^
MMJUC<=>1?-(F.=?;-M`FK4%J/79+9M3KAJA(A;@+&'F&.ESAD!RR$9'C;)X*
M3(/,X6YN1B('(O%G/F`L&]=S1O/J755I7RWC/*VH_(>F+*$,A2/5B^QV>Y/:
M,D0]YF!4#S"Q8YC&(C\MXR3L4DC*1<=(<?PF&@D$"E%K-BR71)ODJ>2HTSJ]
M,:G%0&R#1PG'4EPWA7,R:,XQ><0;/W%[>@G4"63.6H%VA'.3SF9/,'*5-4XB
M:-\7Y?,?'))*T5XTVW:Y,YKY6A<%2&Y44MXY3LL<BJLAR7(3!E/3_(!Y`S#J
MLD$UAN<]-`LQP<&(-53_`(FDSFT,#$Y9)9TH<N8S>,5$AC\T="E4)FC+*GUB
ME^.+)4[:<3(#I8TYNNG8&?2W.6MDL!F;4CDW/;=9MCY\?\S"#(1$<3$0Y8`Q
MV="'E2Q%1PD/E^B)842X*FY26,LR=,40+*RE*4I?GVO;HUAED?1;!,D3M_GC
MI+IBWN,@6I5JE$W68>82#$B!"@``CFMH4*>0$6A+&/EIY@N6#'R(K!Y$(;>Z
MO=#+AJO_`(04*O)X<;I'O'V'R<8S.+1LU3E+"^=\$9:><MXQSE#Y`L>P,WEC
M'7AZ-2$L0V,@Q0G`K(6OBII>'%F,LH[;-W)S!),MNN&\ZQ&`1R;S?1*Y1*)K
M<=2=T$PXUTB,@8:\8XDDL;,EL4G=OX4HB,_FF30];C]V9EQ1K0Y"E4>D$@3*
ML`<%:'I+*Y(5I5;\PHD4FTG:.,1X>;,LHX`)E;UN6=.VT!)S_AR0`QN?+Y3S
M=`+N&(8^QY!;QSAF>']`H=RV$J,>6",QEDU@6S_E#!J1@NIUZR)$02PO.6?\
M]Y8B4=AJ]/'GV49LT\8ATVMS/"',Y\3KF-%#87AB,.SF]2!ND+E.9&X/BL::
M+$*2"2+N9ZTNY#RCJ0Q?GB-2O$`&7'F!<Z8-78XRGBQ^GK?*DF>Y/B!_DCPJ
M<FS(,63H4[8CPXU,9#*-C<PNR*2/UUS@26!*FO:>8:&LUR[(FF[.(L_0%JS;
MI;!'&O'<C:<(FMD06PJ5DK6_5%C9^AJ3(0354+RZP%1&.XU)&_GNF#Q8_BTJ
M3+YO)3I4ID]H6[9FYN1X%FNEHS4?C]7AALRJQS7`JA1A)>9D>.0]'J]C&KI5
M&,O2J^2>4S]W8W2.BQ;#GB&H,9M?F:<U,OF4?E<G3-R=';S/.R4SGE-LS`P1
M75#!8U&,P97U(9==(P^XDESNVMLCS#DW3YD_'R@P;%EZ+CD2['2O![C&%AKT
M28P.R*=J)4T16/2V.MBPWP:CM"+GB3%&<M0D]R-$9U%L;3S:+ZT9C`@XM7FI
M9BRZA=(,\Q&OQ58AQR/S-=%'B'AR>EKFM4#*ER,1,9Y@C%A'2`6/VG'3EEW4
M(RKFB/R73>7E#$3CI'S['<A3W!V3Y7$\F":<"Y/TZ-6,L[XRFNH[)CA*V!+A
M5W6J8Y+H?DN"OD,R.(J1J&F<.1SX_/\`L+X5QP3B/%<'QR1:+6\RC"F;3PP>
M#L>-88%<(PY8XVBD!C@;M41CEG!4ILRL)*ER4M[=9.4Y/+VZ<VO"ZZ-*4I2E
2*4I2E*4I2E*4I2E*4I2E?__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>24
<FILENAME>g44983.jpg
<DESCRIPTION>G44983.JPG
<TEXT>
begin 644 g44983.jpg
M_]C_X``02D9)1@`!`0$!L`&P``#__@`]1$E32S$P.#I;,3-:1$DQ+C$S6D1)
M,38W,#$N3U544%5473(V.#8W7S%?3U1#7T580U]+7T)!4BY%4%/_VP!#``$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0'_P``+"`##`A\!`1$`_\0`'P`!``$$`P$!`0``
M``````````D&!P@*`04+`@0#_\0`8!````4$``(#!0\/"`<&!P```P0%!@<`
M`0(("1$2$R$*%!DQEQ46%S<Y05%76&%VD[?2UQ@:-E-5<7=X@9&5ML;4U2(D
M,I2QT=/6(R8G.)*6H24H0F*8\$129W*"M,'_V@`(`0$``#\`W^*4I2E*4J)7
M=GB"S+&&TT'Z!:9P2T9VVXFN-W5-RJ;EB1%&,H/@F#6FM8M@:3I/6VTVGB]U
MD!<=F(K906VSF^,I&3F&0XICI"$2!ZS\1<1W=N6UC8S58AJ5!+>XB6I[LB<2
M2HN=6Q[M2M>)`@^6T-85&S.40R\FPVX':=*&SA`HFF&*X6$75D,8[@&J+%CU
M\DX"P.MO&\GAUZ*S?Q+MH-6X@B34>)V;+-D?.-M@W/(LPO"7XYEA/A]'CRS-
M<40,QLHR2^7<(>3D=V"O$Z(3%R21SR&&5.&LB62^M.]W$B/S3K^S=S^'43BV
M*MK4-95&%)FN\C.Z?;:\N$BWP'4CL/;DGBP$4@Q,W&DF+II"0D50$:`#KP`0
MC(5NN4#*+F)MCMLXH.F_1+7V.VFB/*0]PM@UIEGR2\<5"`32@R+(P=,I3C)Q
M+).PO8RJM9/36J@HY%1S`33*T\4_`SF)EB$5,8A;I<2'92&=\XNT5UN@.`Y(
M=#_U:<>S1YY3]L2OP.VTE,;,C'&"?;98VC1;(^)Y2%O@04"76!ENOQ%/8B7+
MA$+"CY+QMO019*9!;/WK58(U]GS8MQR@EQ*U(RDQXR]$[Q(QD0"7%7%.FQ4C
M5C-0BX2R!<914$!Q9(8][@Y`(PBN-@.&!23YXS/#;CJ'X;G=T;(E0XUV$,O<
M*%5%'C":7,XI)3XU-F";^=#7C]N1PJ2">8K1%*C9KC_NUPF64*]2=LNB$S)8
M<7%Z7N/9JG!VX3*B&0'(V,=7)(T"0=U8^V99F<@2<H/@TXY;5V$G,EIQ;&K"
M=;C74L%JM]??:VY2.(@K834%<S<R8CIR.HJ!;*R8>,;PW(*9,-R'(.SK=\Z<
M^L$S*T7'F.SI.E4XMQ<1_DJ<DJJ'%[)=Z\SF$CCXC$5MVO5,;R*CJA-02E$T
M74DQ1*E/Q3/QGN&?`0R*5DG:9M%CCEAID[#-DDTF9*4EFW+",AV4!&M)[<!C
M=BNJZXT#!1+/JBJJIN1@-LHA;-<<^*.E9A&Q*BF/BZ<.B!DZ#5>2MHF6GINQ
MS##E6(CC<1GQ(`+@BL0I8[>45;T/FJZ!&3&P(-A;&WV^0VVV20Y-2+&U$$PD
M*P9&CW_QKN&-&D9PU+SHVD1,F)/[9<CXBL\VH]F!ZK:^PV<M*;==<@*3,9T>
MKCU:#!;JTBJZ<KO1YMYOMLF933N&2CE8N+EA),QGRSI,9K6D./7.AO1BOAOI
M#K9[N;*D56&\Y6TO$05)&7$15)""E%%+4R!@`V3.%Q,PAP1<<\<NV]K552E*
M4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4J$S=/5S;=A<06'.)]I1
M'3#V%>;<UH=>H$\ZU/B1@8:67W$JM((,H-%T15)JZB.!F(SR:KTR,#+"<["R
M>G+2$$$3*J&)DR*(4[;A[ZG;0D]M=PN(MNBUV/$LO;1MZ&HMCC7..GP)*1&#
M84AH@<N33GI)91`0$5ZR`[G$=S65@9ND14)(#*]!.41PU3)-2,1(>X/4SNC@
M/S%PPYM4VS'LP2$Z)W=C;6TU7%=341'*H[**D\0PI*ZFAE!!QD8P?3VQ9U%R
M1,V?(IQM2!#(F3Q?`MGE-K2O\;64IW@HCLS%,`Z>Z[PHW%L">3T?RDV-AG9N
M2],&V`A-;SA$LV&0-0#&P2[@.\U<!1-6?.86!=O!*9@(R)<CD$5UTEE[<5I3
MVMD)!+$X-@G34C!6MX@ZFE*9E=E.;I+S>VQ;W!1"ATRL-D5&:D=Q0P21E53T
MRRP5/KMT_-2)XYY%HV^*+P[YUG[B1PMMFW-#M<N('"+)TY<T$KD.;#3(VHG2
MD^2%J655Y)3S(^>:,I0".#MY#,9%B@@3?#S%NN'P@E-/%+?SFU6XW#/VTW[T
M;UYX?:+I/JUPYX=2YI?C^D`9@RFW9P2H.;K/1U9P1N+"J<@1Y&HV+NFN2GHY
MRK^-IZ,GAM1G@JV!I06A'J>)IGZ0=0^)]%;ZX?&XC9TZU[E6:=?-$Y+T"E_5
M-!FYH1E&+:Q&6R-X^G:(7*L(1UK>=%SI2.6"?4?7*I#F0&\<$:J."MX6L<!O
M?KWPU=F6/O%'.Q+\B_5>/F>D<&-;TU<;0U>1+QU##,V.=&P[AE97:40Q<IV/
M+"+&1=`7LPA76:-@XKJYFKJ0R6G>:WF<5BM1>#CQ4&G`^K.O>;,)K3,;?#BF
M/5UT)\1[7(6MV##GF0ICEMYB*D_20SV>=F38#7,^TG:U39>&V,X1FF==I$VF
M.5K%4\^ON-6S[TNX5>V$./A.<DCM-DD2A;@&1=P[\KEGDD+1H/8EKKR^87T?
M"Q0$?DT!B1A/'Q=&`ETXQ8;`"X68H`N`,8)YAR+PDGSJB-(KUT<*3R?X)J_I
MQ+4/[53:X(=;[*36Q+;W>&,KQ5+-HJ>$?S*G6,*]T)YP$TEL"4749!`Q1BF!
M%=+*Z=;[3_A>;R.+6#AX;;0O%LIR(3>W#94]6W[$#*W'4M%9!:Q90V9EF6V4
M\5]U*+/7B[\@:068]2)EW1N6!P6E`04DZTG$_P!:0*Y;HV@6MX>HFG&OFN&*
M,E-T>*X]((:BWD!W.I^MY`63QU0<*XA-QZ/8DFNER-M&6%D\FH"HM)J:;&2"
MQ.UTQ."Q")`9@TI2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4KB][8V
MYWOR_MO?V+6\=[W]:UN=[^M:N+YXVY<^?;V_T<N5O_NORY8?_ER]?V+UQ;.U
M[]'EGS[;=H>=K=G_`)KXVQ^]?GROZW/G:N;Y6Z71O;+GV?\`@SOC[-OY5L>C
M_P!?>O4?CSX6FBL@.]TOMVP<&K.IZ.%8=3E5+R3,I&ZDO+QX9253UR27(Y%-
M)W-'3`PW>R>2*$@.GU98L`#C@'C37@A>'K[GX/RJ3G]*-/!"\/7W/P?E4G/Z
M4:>"%X>ON?@_*I.?THT\$+P]?<_!^52<_I1IX(7AZ^Y^#\JDY_2C3P0O#U]S
M\'Y5)S^E&G@A>'K[GX/RJ3G]*-/!"\/7W/P?E4G/Z4:>"%X>ON?@_*I.?THT
M\$+P]?<_!^52<_I1JG')P4^&"\P"19ZZD,=[%4TSD<3"KU<TH.\LF'!,,0Q#
MB:7<;^4P4\X('AA@(:)X`&,\,,,,Q+XX8VMU[PX9/"TCH%&%?<9LICEEU4*M
MYOYNR>)5:Y=763&'0(H2-DM2^GA'U(8/"V!-*(7&-9AX6P`+WPPM:V5T7P?J
MGHHRG:>9)-K0>Q7`M):J[%EW2*N8H(BQ@6#0DH4TO2>\%0LFB"`W"(ERI<^2
M!-#98VZ@8UE;*^4A%0(J9(FHIIPH?3U`J6/$#Q(R";)G21P+`<H;*&B^8@!D
MJ:`$#&+F`!!`1PL\!`L\\,L<K_KI2E*4I2E*4I2E*4I2E<7RMC;G>_+UO?O>
M_BM:UNV][^M:W.]ZXOE:U^CV\_O7O:WL6OE:W1M>_K6O>U[^MSI;.V5^5K9\
M_?#SQM^?+&UO^M.E:]^CV\_O7Y7]ZV7+HWO;MYVM>][<K\[=EZ^J4I2E*4I2
ME*4I2E*4I2L`>*6Q%A^\/G;PFW9`EJ-G`W->YB?2"OPL\U1B/4RN,F-':X4=
M"Q7$,$18S1%M2)E22ZE)PA4TL$,LR&!H&PN72U0]^U?99"9>@;GCF27HZMCW
MMPQM&`=/HZQD+<*-7]&6SZ:Z&>(^']%S;C>,G3K[M"]Y32EDFW)8C^;WPV59
MB,=OY.9["!1X=QQ6)98XBG66+^)?O%N0:3GY!T!<-QBG#DHNN\B[)/IO2ULC
M/[`,S/.4@FF0INYYIBBP8,BAT(S=9;!9+'L`&]Y"=BJ52!_.VQP$W#B47HF6
MXT(4I-N2DN;'%(6Q\/9A1.;CS<V.9%U4U;QU$3N_=N6I(RX_DC4M:B:/SJ;:
M0UQ+><+OEH.]0>"NEGE\L[2Y=M)\B?`[W>VBW#-["@[6RCFJ+T=)<2`0FS;Z
M_8P3:6]>7&3<YU@[T#EU@F(N&CVS^)87$S'J(?3&I$=F>&0\[)$^ZP!:V":4
MI2E*4I2M4CNC;5N?-CWO"MH[UWDR4VF0U2W0C9$=\7:_M7:I0!G"9D^/$9@1
M\Y6$]5]-38"0%PNW3"P7VU;1#)[QLJ%`RB2NMXOD.;MT_$WB[8K9%JZ2-\WK
M5M&A,+2)RJS/V<:T>ZS,#;U-<D@21I4@IT;R%KU$^POG\8NU4:Q/(RRXXG<4
ME.AN+#A8ZZIK3@3B`9\OD_DFF&NA\3MIROPP6V?B_;R&]>VI!NF;9XCL1ZL)
M8[=A=E.PHY',6AIMZ^-]%NH+:"@MD4BBX<0Q+@)3LV4Z)33=0K#YF"JF&'MZ
MX^+MY\^=^?/GX^=^?+GV]'G_`$?_`"\N797-*4I2E*4I2E*4I2E*5&-QBDIV
M'>'3LRL,R3Y*BU:9+!/O@)1C!52416<P;=S!,9,M<5#S?6U8LT5_,3#!P8-$
MXUW0;+`8DB3G3R9@^`;P"V5>@Z9O_)QY5D)U)6R+9V\X8;`T\8'GP6T<98UD
MDM58-MGQ&)'I90))#T9;L)G]E\)I<HZ8KAD"T;I`Z\HI-X\:1@AE+K''.MC7
MV8VGVH;I-MPE$<!.!>U&;1TVY5%L-)S/8-69RYL%)[Q,KBM9$4Q<9,4VU!S%
MR/9XYML\PY!&3L\A7]E@!%HA2Z]V9N1+LJ&-A6Q%Q@U,W%6:"\[SKS><GSNP
MFY%#075.('7MUK,:5A6,2U.B$TP;VA<@R2J&[5TJ\]:2#<,I;AG)_&G'.UPX
M-B)<V=@QP2;/*23CN8+R>Z&V^]=P4(ZD*NL:DA)R`$G1$Z5!7`*KCL<AUOCI
M$JF76HD4XLI)LE)15`)6;Z<GG#L@5*4I2E*4I2E*4I2E*4I_[]C^ROF^-K\O
M'V=G]++EV>S;GRO[_/GS\5^RN>7C\?;[]_\`IV]GY.5<7PQOX^=_>OEER\7+
MQ<^7O^+Q_P`KQ]M<VQMCXN?Y;WO_`&WOVW]>_CO?MOSKFE*4I2N@=+J;3';:
MX\'BO([6:C92CRXXG&X%(FCH:&CII?,TH*BLJJ`Q<BGIY(L$(.9-FAP@`0\,
MLL\[6M5KSFR^NZ<T&5("G.L/)3'DA)LO1^[5:3&4DMQZHMRY4U=4:JRIKA0@
MOD<"QTH,*92QS08&!D&X]PKB86O<`*06(.ZR[$!>;4&>QMNV=Q5GA.-&$=)E
MJ7,8%+.8NWL#V2R,WKFA`RUEL,EDEW,9X`6-W%SQPORS'^Q9&2S*W'[S:;Y1
MB2H=0S:LSW&BNA,*K*;EA@HI)E00CQ\H`ID,Q`\3J>*-@;*9"86,`AWSQM?X
M;#_83X-N-/9[R:3M/,Y7$;SM)-MQHB^;:Z\%;*XR(XBR2>.#(:N';#*XB8J8
M%#N%L,KY`6Z.7*L+XXW\>-K]O/MM:_;;LM?M]>UNSG3HX]G\G'LY<NRW9R\7
M+[WK>QZU<TI2E*4I2E*4I2E*4I72+3E;K;#`&<2\BH()H3($L*M*I!*#,"X8
M=9F$!F?,%\1A,`_])E@'?++'#^5>UL>VJ<SD^,!,,@Q)"8>>&=KXY89NUN98
MY6OX[98Y*-\;V]Z]KVKJQWK#!I7(+YEVQD87$HL<)IBR.OM(553BBA<*Y\J1
M41#>1TF6/7`![\`+#A!&NI"[XP$ZO#EV&4EQ7EAF%D_F!<,3.^8F%W4VKX9Y
MY9VSRSRPNH7QRROG:V=\LK7O?*W2O>^7;74!NR#PE=27PG-%@2XL@$RJNLAK
M3/P550LG<_,\NHJ.)JQT\`0Y_P`R!-CC!%/_`(?`*NYPDV+0\Q1,)`8.`@^6
M.8V>+L;F.8N6&&(>.0F5E"V6=\<,<<,;Y7O?'#&V-N6-K6M4Z*XF^XP!C3>7
M$==+%QN]QS",ID50`$QU>`O4"BD1S`88W5"!B=5GECGU>>&?1Z.6-[]S2E*4
MI2E*4I2E*4I2E*4I2E*4I2E1I\6QJ([PT?D]/7R<EY)*6HL]V#+L9QXG3`99
M9YF.`LZ4%[/>(E`DK92-%3=<*2DF9-04U"6E<@TA#[J32Q(PW++27K\P\E/<
M+7J"I1LS)!B9_-76G8QOZF6BK0,S(D"[=OY_&]<W>GKSGC:4D>4WO"[UF1Y,
M=,;2^1#QC!"F9KI+GGB/9M;#65C*>A7U,,6=4/9^8U*48"7IIEY\[+/UXO2#
MF=`KG3W@6U>=VB1=J*+YAC>Y-5VDEE51FEA'!KG&3*"D9-;9I46#$<Y-4L_3
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M2E*4I2E*4I2E*4I2E*PEXA.]\3<-S5UZ;93:W9`=,>,9:9"&K(T8IC?5W@.9
M?CM2V>E#$"+G<K21Q2Y515@#*CD.MEQ0R(8V94$V8L&6$UUC'=H?"Y-@#%34
M#[M&2Q@(0`P7'C:$101@1L,@A@10A)\RP$"%#SR#$#SQRPSPRRPRM?'*]K_R
M)]V><+-.)E4\A`>ZY$B1+@%"9,G&L(%2I4H5"P`+%2Y<">PP02Q<`,,$$N'A
MB"$%A@$'ACACCC;]/UZ3PO[WYW@S=^_O7CN%+V^_T?1]Z//W^7/EV<^5<V[M
M)X8%O%!N\'W[QY"M[_>YWGZ]^7;XO%[U+=VD\+^WB@W=_P#+'<*7Y6]BW.?;
M\K>];E:WL5(_PP^Z$-..*[/#KUZU[C?8QH/)GQ4LRZI*<N-2.T-N#MQ#=+0:
M1LD2--*3WHI"+.:B\TL8``=++DLR8)W/,^&.&"`/._2E*4I2E*4I2E*4I2E*
MCDXBWV(1E\+5C]7Q*BBI2E*ESX>'I:OKX?\`[+H52"TI2E*4I2E*4I2E*4I2
ME*4I2E*4K6_[J]]11V,_"!KE\N+-KR1Z4I2MOWN+3U3Z<OQ()%^6N`J]/NE*
M4I2E*4I2E*4I2E*5')Q%OL0C+X6K'ZOB5%%2E*5+GP\/2U?7P_\`V70JD%I2
ME*4I2E*4I2E*4I2E*4I2E*4I6M_W5[ZBCL9^$#7+Y<6;7DCTI2E;?O<6GJGT
MY?B02+\M<!5Z?=*4I2E*4I2E*4I2E*4J.3B+?8A&7PM6/U?$J**E*4J7/AX>
MEJ^OA_\`LNA5(+2E*4I2E*4I2E*4I2E*4I2E*4I2M;_NKWU%'8S\(&N7RXLV
MO)'I2E*V_>XM/5/IR_$@D7Y:X"KT^Z4I2E*4I2E*4I2E*4I4<G$6^Q",OA:L
M?J^)445*4I4N?#P]+5]?#_\`9="J06E*4I2E*4I2E*4I2E*4I2E*4I2E:W_=
M7OJ*.QGX0-<OEQ9M>2/2E*5M^]Q:>J?3E^)!(ORUP%7I]TI2E*4I2E*4I2E*
M4I2HY.(M]B$9?"U8_5\2HHJ4I2I<^'AZ6KZ^'_[+H52"TI2E*4I2E*4I2E*4
MI2E*4I2E*4K6_P"ZO?44=C/P@:Y?+BS:\D>E*4K;][BT]4^G+\2"1?EK@*O3
M[I2E*4I2E*4I2E*4I2E1R<1;[$(R^%JQ^KXE114I2E2Y\/#TM7U\/_V70JD%
MI2E*4I2E*4I2E*4I2E*4I2E*4I6M_P!U>^HH[&?A`UR^7%FUY(]*4I6W[W%I
MZI].7XD$B_+7`5>GW2E*4I2E*4I2E*4I2E*CDXBWV(1E\+5C]7Q*BBI2E*ES
MX>'I:OKX?_LNA5(+2E*4I2E*4I2E*4I2E*4I2E*4I2M;_NKWU%'8S\(&N7RX
MLVO)'I2E*V_>XM/5/IR_$@D7Y:X"KT^Z4I2E*4I2E*4I2E*4I4<G$6^Q",OA
M:L?J^)445*4I4N?#P]+5]?#_`/9="J06E*4I2E*4I2E*4I2E*4I2E*4I2E:W
M_=7OJ*.QGX0-<OEQ9M>2/2E*5M^]Q:>J?3E^)!(ORUP%7I]TI2E*4I2E*4I2
ME*4I2HY.(M]B$9?"U8_5\2HHJ4I2I<^'AZ6KZ^'_`.RZ%4@M*4I2E*4I2E*4
MI2E*4I2E*4I2E*UO^ZO?44=C/P@:Y?+BS:\D>E*4K;][BT]4^G+\2"1?EK@*
MO3[I2E*4I2E*4I2E*5U9M<1B!)543JJFE""'8?):.FCY0N42,2Q8,Z8S5#(P
MV`"?@`3&"-CY'!`,0BPH9@2^(.>&=_[EU)/-)X*L6.E#"69)AJ!=1`,`C$1R
M`P.)D(Z"<#SR+#$Q2^6(X9H,7(OF!>PV`EPKVSK^",MHSA32JR@JJ:M)![#,
M4DJ))\HI)QP(,3,',0J>(C&"AD/`4/,+/,$83'$3#,/*]L\,L;=I4<G$6^Q"
M,OA:L?J^)445*4I4N?#P]+5]?#_]ET*I!:4I2E*4K\2DH%DE./JASOBY1.)F
MCYFQ0D=4C=RY,N(9'[V3TTN;4#QCJ@L^I)D2IDX:%Z`!4N,.(&%G&F@\3QA2
M*S60JPW"TVR%(<JSOL-!$80ZKH2/#[\75+60ZZ0I0>#J*3*JLC&+6P1)-40P
M33I""1'SF><+60CS0(*JF<"2KIJN_<1!ZH1CM8UT5X/!(FHW'S9BJ-B(;;1)
M`<LER2OXM-)C<\*YG$DLIM++=<0"V6?JXM.P!H-)+:;J<1A=-HR38R:J5F[L
M0T?8B:Z)852^O;F%:*\]EF.Y97&Z0<*:V&U(29%AYW(RDBJBNVWZP%=ZK[33
MV8_F(K+K<>)=[L@9('N:<Z<0SS!M>U^VW_O^Z]O7MX[7I2E*_B8S%#`&$`#Q
M&&P#SS""S$ZG`43'&^6`>8W1SZK$3*UL,A;X9V"ME<2^&=L;XWU]=$]SMP=C
M'WMM#TWSO%\%S(R>;E!C!^:WN5CO[7FS=28/4WL&VBCG=5X^V"@1&R>CE;*E
M)9>0C:^CK)AGR0(H#L:6&6W6]3<O\3W8Z`M(%B2!W1#TD;!RDG2/L/KX$[6J
M6BY.:VC#`5F<F$YOEYD%'P>-GG'))54)FHM:*$III]:<$M,)JJA8N&Q9-64S
M/[B%[6R5!!;6Y`A]4*DC$]2&]&^;=36AEV;6205167#+VEDC:-=;(W<#?>4D
MA.0TUR*4XG8D'U!+8*&>!4%1-Q"<!-QMW*;3V9U_8G5C7R<W60:24ZI7B%AO
MISI3%7,W$TTIQN%ODSZZEHJF+F*8R+)RJ(;)9D39@X>1S0!A%/'CQU.,'!\D
M*4I2E*4K6_[J]]11V,_"!KE\N+-KR1Z4I2MOWN+3U3Z<OQ()%^6N`J]/J]^5
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M[LG"FG^K[O1];M7==B47Q*SI7>D`-*6F3'RPZ-@(W24-OR#&*PB-9*QV3F)Z
MR*8$UZ44X@81FKM+(PA<5(3!"AHP>*B)Y+,J=-YBB&C9;(L%D7-&1!\`QA!S
M`-\!AA!@PQ<Q<\\A`P\[Y88Q[\1;[$(R^%JQ^KXE114I2E2Y\/#TM7U\/_V7
M0JD%I2E*4I2N,K<\<K>S:]OSVY5$=(/#K>IJ+SJ(SW%%3J?!7=[8;;9O&)`3
M)/99=,3Y]=,CJX[509*AIZ-V7X^<+<(/X$FJN1GK?F1)#?3%^/':VK-5\'3"
M+T*_PNE`+2V!]/T)>B%VMC5Y0UGDV,TZ1XY5AV2^IAAJ1',^I#3).:A)>5$X
MM#<@AK`"8R6H@$CBM%XU\CZ@>D,FG)R-G;8CPDY(LCP(?PE^+VDX==)^E#<6
M+V(UXENH0TSI]DZ4R[E#CIO(RPH%UY$UG949".%HI;*:AAI+:Q*CHSGNX[=7
M&@R&DBSL8VO:UK7[>7OWOV>M;G?G>][6[+Y7[<K]M^7/E7-*5_`P9+E<+"&1
MP2^%\K86S'%#!POE>U[VQMD)ECC?*]L;WMC:_.]K7ORY6O76&SR`>*F"1TVD
M&R9L`8J:*FC!$P6,EC`>0(Y<P`*)D$,`.#GF$,$)CE@('GEAEC?'*]JBYACA
M4:LQ%EL25,O*2Y!1)U93UAQ!2GI+KJ41X6@&0X]C2/W=$D9K8CB$64X%638K
M9I09^&30K]LVV?'C2LN>9K"2QC>5TX:DZF[&189AV7XNCAWLH1B>AL0".D$/
M%=;K.L`5+8([4=%@\G`UP@@21;$$1#4"0@5PL1,,K"6MG;H)3U$AF4!VXJXO
MF2(]=3$>1MX1D\(RE$=KKT5X*T9)$1.)F1P&.$KH#6C=RLI'+@J[`*(0C;LX
M11GLF$DUYXE5XK?:'X[BB!HR94/Q612FO'\?H)1NME%#6!%$4N1*W$%$,*"L
MK'SRPMK"D='-*JXO+1X^M+RR>/K"N>.*1XT9%NB7.DS=\[%318Q<.V-\[`#@
MC7PMESMC?*P6>=\;97QOROERY\K\N?*]?JJDW&_&2SU!II+L=[9;*H_%_%J,
MA.7UY+1SSP=&2<?5\6XURBB:+CKZ[DE):DIV24H,T?N0('#=@.I+B9X]N`NH
MII7/(!963!UQ,*DSJBC@GR@JH0)*&0V)`V=3@QLCA0J>R+F,29@P`&":N`-8
MOF)<(3H_K&.DRXY0J8-%@#)\04(B`,.$$,<%``$-#!%0L\\1#`@18(4P)@#C
MGG@`$(-G:P8>>6/ZJ4I6M_W5[ZBCL9^$#7+Y<6;7DCTI2E;?O<6GJGTY?B02
M+\M<!5Z?-[VO;^E:WY?8[?9MV>S;GVV[*@@E'@Q&-AMDIND'86?3C_B!WQ6\
MF)%9.S);`4ZM>\HMW9!HKS5>$M'BQX9T1C&"+/Q_*-VMBF%07?='CY,E@-QD
M(@1\G=DZVM#YQ:3E=LV(.VJ.F[-OIWQDI/%Z$==4,E";J8D21&ZHD9[!7H)*
MR<"LBY%@7HO/H=X)4R([AQ>WF02(7(QFBDHZM_07AMDB&O<=0,V)D.D@H7?<
M43M$KF<D=-ERW0]EF'-S]GAY2HYF\44VX0<R!*+J?AQ.4XU3S36360B%0[QV
MO-Y<[T62&4FJFN)36A@NEO#NS-]/*29;E.=90>&*$6:*4X),F!U&G6[#;<99
M-262C0;)<<8LFH:%997%#`D1P4'"X7&YE!:7U+)OG:_BO:_Y:YI2E*4I2E1C
M<4?BLZ_<)B)(]F78=GRX\FQ)$DVB]%)0^B-%=6B:[=J+[OL=5"SO>K))A)/F
M>W39;KBAXZ<[^'*X=Y=[Y#&08._KTOA@^T;N_P"3J%/I]KB_=I/#`O:]KP;O
M!V]OI>0K:]OO7M/UKV_)>U<?7I/"_P"7+T#=X>7+EZ7D+<_6OSO?T?N=[]G;
M>]^=_%>_*]Z?7I'"_P#:-W@OX_Z4>0MERY^/E?*?KWM]^WB];QWKZ^O2^&#[
M1N[_`).H4^GVLG&1Q:->.+?`YR4-=F9,+,08?FHM'SB*S$A,]"5%!6<L<FW2
M1.(8+.?#X+#IH1,J.6-YJ!E.-AG,,;`E1RV>)BNHI2E*ESX>'I:OKX?_`++H
M52"TI2E*4K$G:/8I>@/SD^8C;2'!YZ;N#OGS5/'B7>GF/9'N%U'>80O6==YI
M9]9UG+H]5AT>?2RY8E^$3??M;M'].+G[K3PB;[]K=H_IQ<_=:>$3??M;M'].
M+G[K3PB;[]K=H_IQ<_=:>$3??M;M'].+G[K6=>MTP*LW1\.\5A&3T(V$Y%9$
ML23#1HV6N"G`D!`Q[BFPPQ;"BW.96SPMCT,;88]&][WO5_Z5J$=VBF#!;AAP
M=F7'&`SON]'5KY@BB!97QM"L^9=&^0>6-[VZ6..7+GX\;7MVVKS$/-A6^Z:A
M_7C?^-3S85ONFH?UXW_C4\V%;[IJ']>-_P"-3S85ONFH?UXW_C4\V%;[IJ']
M>-_XU;V'<0)LT:E3B&Y&3(YB^,?:W6QN.,*->UK.J7[VM:XF>=[6YY7ORM?E
MVW]F]>AM6K/QVT=L$-E=:WH,Q\Y1?`[=\ZK;A25((?<@Q=/@`33V972\;P++
M,3FL)$B/8L\[KME#<`:.5-F31AWZ\RL6(G$V%'`;2Z]UU+CM7<Q@KBG'#^:F
MRC2V<XFTL[O.3)G.E37\]778E/M4UT2'>_4=',%9+80R<;UL2H/;R&87030T
M:*!9C(Q0RRW(1*W4D9)VG?\`Q5-(Y^<L&/I:AQ#E^6V;!SD;KR2Q&"R->WKI
MT\AU^3)!9:D`B.MKRG(T@GRQE=P>Z&0&;;79#"BYFY&'2ONO)Q[`]*4K6_[J
M]]11V,_"!KE\N+-KR1Z4I2MH3N4YV.%C[H;4.AJ*@R,OIFCCK[P4@`2@XI:Y
MK8O6XF8O@$=+FBN5Q"Q@8*]Q0!.C;.^6'1SMCE;>#^JPV(]M%9_1;7_@%/JL
M-B/;16?T6U_X!3ZK#8CVT5G]%M?^`4^JPV(]M%9_1;7_`(!3ZK#8CVT5G]%M
M?^`5E1I[.LM2++@S>>KV47`C8LU>4L2!HDB%PK'BAY#"+F.L3TLF/TP@S1C&
MV-QKAWL+>^>&5[8WQE)I2E*4I2E:8'=L?^X3JI^-^%\B4G5YHU*4I6[WW-#_
M`+AFR_XXL?\`R!N*M@6E*4J7/AX>EJ^OA_\`LNA5(+2E*P&D"<9]:W$-UR@>
MZ=&Q/766H)V1>.2F54%Q5E)8D6(S<(6+%E-.-MU,;S2:261D50R)#I#C<ZJZ
M#IB_FD3;I=(+X*7[-D9KGN--I-#F$T$R-@X(GN97Y&DJKBHHKQR4A%A)UMG^
M6FRBM=MV;P;63&WDH1@G*"V[C#N&<&0P0;>(M:Q`\=6@_P!<![GXSKL'-^N1
M>)76TGEK*9-)4\J2RMH1EOM1><ZJ&I04FMLX2_G#X#FF'[^C04/)A8F#'[=-
MI;6?(:>^CHZ"1SBJ,+B.>.(?OOC^QJU&)2E*5,WH'Z1ISX?N?_\`51*S=K$[
MT<-@_<7R;Y7-<_I-J#[CX:3;N\6K4..]=H;UU]#)SL[85K3`>795EZ(,&^;0
MT%@22T3"63R9KL<RG=7&.O8B:`Q'(`DN]29SK#F`W4!":B?UH%Q<_N5K_P"6
M%,_<Z?6@7%S^Y6O_`)84S]SI]:!<7/[E:_\`EA3/W.GUH%Q<_N5K_P"6%,_<
MZ?6@7%S^Y6O_`)84S]SK8P[GMX3G$#X/CQVA<<UPFWY2*3HUXI1&X!$<OQF(
M91S;!6WNI*8J]9[+S6"#+'"[H*8)^:<*H"Y#%S6!D`MA8$839]]'#8/W%\F^
M5S7/Z3:ZM1E2:E<PCFU71E]J1IO*=UI!,GY/UJ-CHBQ=.44>ZLDC&)($$3E/
MS)5U9+[_`">0)KS-5%(CUO>I\V$-V5IMV"M>][:7R=;G;ERM+VNMK6^]CZ)W
M1QO[]K6OX^WMKGT;]@^S_N7R=V?_`%=UT^]V_P"TWM_+S]GQUSZ.&P?N+Y-\
MKFN?TFT]'#8/W%\F^5S7/Z3:>CAL'[B^3?*YKG])M/1PV#]Q?)OE<US^DVHK
M>,YKON/Q+=`92U'BO613C]ZOQT12MISGD>7H5P:1(HPY#0W@JA'Q&J]'`M6,
MFR*4*53L"R2.$(<%#L:'*`6S&K2D^M`N+G]RM?\`RPIG[G3ZT"XN?W*U_P#+
M"F?N=/K0+BY_<K7_`,L*9^YT^M`N+G]RM?\`RPIG[G3ZT"XN?W*U_P#+"F?N
M=2T<(+@$\2KATS5-<FR=&,?/U(D[7E4AU)3H\F)CV5$]</RO$\@!JJE=SG$4
MI9(P3H^420ERHYH[<^>(6Q*=[=\F`9V/J8=Q_<QJGEEA7_--/J8=Q_<QJGEE
MA7_--/J8=Q_<QJGEEA7_`#33ZF'<?W,:IY985_S33ZF'<?W,:IY985_S35_-
M<(\VOA:1!7DMZI.=4)9MI71+%4F8H*$-6'4#*6.$+?$Z]B`/4X6(9V$OU]\[
M7SPZ(6=KY='/'T<-@_<7R;Y7-<_I-K(1C+CA<C73%EU,I4CQ>.6-]_-!95VX
MO**3U!TP7+V,*K25%E`-=^E0@3X7>"B8ZD$T&`9ZHV&.#A5M*4I2E?/2M[&7
M_!G\VM,'NV*_/0K53ES_`-[\/QVOCXH2DWV;6]G\O;R\5Z\TCE?WOSV_OIRO
M[WY[?WTY7][\]O[Z<K^]^>W]].5_>_/;^^MWSN9_#//0W9BV&&>=[;BQ_>]L
M,,L^5O0$</CZ%K\OR_\`\O6P1U`_V@?XD7YE.H'^T#_$B_,IU`_V@?XD7YE.
MH'^T#_$B_,IU`_V@?XD7YE2W\//',.-GU83`3"]W]SM;(//&][7;"';G:U\;
M7O;G:]N=NSGV5(%TK>QE_P`&?S:=*WL9?\&?S:7SM;UL_B\[_P!F-<=9C[&?
MQ8GS:MPNQ3'[EDV/9A6D',Y(D5H,@MEB.#OU9`\Q$24KM"[Y)>9A8V"D*/FW
M=AM7_3JA`Z93_,O_`+,&)]^'N^:=S@*,#.,-Y*J8XW"<@)\+,CQ:KNA[/QT+
MR"\5]GR`P5)7/+R^OJ*PY^L9\GO1!+$72=64X@25"]B!0L(CHPA"DXPU'U]A
MN03\JQPQ!&W(:ZGOU.=KL"7G8>5GYA(\AYRFXSL@C*:L<Q?*P7>@YT\U5QT8
M*BNQ4M25&LRSJ"U%,ZB#Y*]9C[&?Q8GS:C&XC..8OH1=6&+GRN]^?1"$ORYV
M:W+GRQ[.?*_+GX^51D=0/]H'^)%^93J!_M`_Q(OS*=0/]H'^)%^93J!_M`_Q
M(OS*=0/]H'^)%^94R^@UL@X..6$P$PO=_N>_+(/.U^7>J)V\KX\^7L7\5^5^
M7BO6;72M[&7_``9_-KZI6'DN[DMF+9CS@=)B.>)AD<I%J+,*PDP\QT)QED)D
MN-VNADH!Q44'`]&B6Q.JSA9SA*E4XG<Z8Q"(9&C/4`"!YWR"1928:VJ*3;"=
M+?*/-OMQ*=+M8AUPM_%[,I'6"09TH:>#;*JQM0;P%P\\@[FS^`:>(*$+WL=,
M!8XBY\%I:BXXH-A))R,Q#:J]3CD3V<F%G@W#"@ZSS.-#D7>3;9()3S,KQIJG
M"IHLY2Z2$<&0!RQ@%6P)B@BX8T\SYVCIV)K.,F5?%D+C[(K2DVV+(PJ>RI"/
MD6\MY-]6-!,U74,%@<N44,B=A#!0$T7Q!5$D7,7"RD5Q$K1(D!BK[@7&FA/)
MJ+3I;)8F=<;;2'&BJ:^@E%$0R"GF5I&(GAU)*+GQ21P(D,H%2X1H4J9#`S$S
M`%QPQ?1MU&VZYA?,0LB%]A'OZ&<MDH5?\CMQA-\6,6L]1VXRG<HX*+@4WTEJ
M^:2@-Y_MQ26E0BVS80`9@R$3#/F"8P-LH3S_`&,F)1E=47BU2"(2;QIVFU@Z
MXD<HE%FJ2O;OMS&%$P=")@-XKSM<PMBC8)@%LL>N-8<[5:DCM+!Q^8!H0P?J
M"7?&;"BB1D'$XJI!5%>S?FA0D\@PPV"L"J-BST5E'&(GDI#);?Q.F`$<N05,
M;C%#X8F%SB4E1VI*[M;Z<^V:?7F%<G9\(I-TH)I69MU`&Y@A9UIH"@(=;ESP
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M?+46JRJVD-+DAA*2T\@7`8:*00>+<.*CI+M,V.0=`[<3RRF*<706V>+&";@%
M2@38:*:`'+J>148$3#&@7=M3KDQ0\A7/-,<D+`RPRX,.X%W2E*XZ1+DAK5F\
MSF`OED0PI&6ZXUE7OD6P)+P2;WG@$9.*69,B4-&0:(F[;UJPQ*#0ADO&,U2W
M)+RCQX2H0;$/,U'<IDBQV0YF@SUI85C*^[FB1*WNXGRW$TD2!,FSIL0V(+8O
M@`6&%QJZ(]K8!FQB1#(+'DMMW29U(*!N,DIR'RS0>#E-H1HTFNE`*,QRC)KE
MS<S/6$]217<@!)PRBWE9..DU$(+("^679L[9S7U^MPL[FK,$?J+;.RD[(23U
M<=RIB054I:9#J6&4Y(_2[K0Z<(J.@DY4!63RJ6G!FC"P&5Q4D3%2231,\8N*
M5D)AGGJIQN2>C3-R$BI!=P+#%+.1%,/))0CF8`11:4VL">S7B"2:$,EPRRD;
M3P20^8X.`0^>0P=LZPI2E*4I2E<98VSQRQRY\LK7QORO?&_*]KVOROC>U[7Y
M7[+VO:]K]MKVO:UZQ2RTIU]RRRRNDR5SRRRRORV%V(M;GE>^5^5K2M:UK<[W
MY6M:UK6[+6M:UK6MK)W#"T;FQ(34":(-`F%!1U.ZVCH<KR'+4D(R2LY$QT[)
M82TIY/Y:()ZKDGF3)#)1*%P3ER1@<I<:X`P@>5D_`7<(KW!&O_Z`5/XW7/@+
M>$9[@>`/^7U7^-4\!;PB_<#P!_R^J_QJG@+>$7?Q:#P!_P`OJO\`&Z>`MX1G
MN!X`_P"7U7^-5<QD<)GAXQFEJ"%&NM#5CM$5E,%;545@NB1F8D*BT6)73"ZP
MI)C;>B:2/JQ=-ODG`*)H`4Z"0O<F&-B6OU55AX-G3'VHCOE3F;Z1*>#:TQ]J
M,[V>/_:G,OTB4\&SIC[41WRIS-](E/!LZ8^U$=\J<S?2)3P;.F/M1'?*G,WT
MB54*/H1J\W0!2K>9CR02Q@:Q@<LB3C/:27',6#Q"L.,"0D\N&*/8+#`*PN>.
M0G5X8X=+HXVM;M_J*-??N3)?_J&V)^E:GU%&OOW)DO\`]0VQ/TK53C@X?&J;
MK[T\\S&>#@[QZ[O+S9G*?E+O3OCJ^O[V[ZE$3J>NZD+K>KZ/6=6'TN?0QY4W
MX,C2GVHU3ROSG])M/!DZ4<^7H1JG/Q\O1?G/GR]GTS:>#(TH]J-4\K\Y_2;3
MP9&E/M1JGE?G/Z3:>#(TI]J-4\K\Y_2;78!\-W3<(H&GVBQ7S)`F!S8!,67I
MO'+`&309<(R8!`'DD4,$8R&5*AF!0\<<QL"X&(E\K`AVQ^?!MZ8>U(<\?+TU
M)E\=_%;TQ/'?G;LKGP;6F/M1G?*G,WTB4\&SIC[41WRIS-](E/!LZ8^U$=\J
M<S?2)3P;.F/M1'?*G,WTB54J3H;K&@%+D$%H/9#(W&$,7)(TZ3ZED[F!K88B
MCW*D90``N.+B&'806X?6"6#PMEE>V&/+M,=*=?<;VRLDR5SMXN>PNQ%[=MKV
M[;7E:]K^/U[7[>WQVM65U*CID+2,"6]YG%L*_3;D"CD35.*X=;H#!FZ8XG<H
MCT:DUR](+BNX244.MD!KK<S1'<UL4G)?55D(%1#5P2R41Q$,F%"+QU<,;9YR
MEGS&25%<'MM817!Q2'H-M]E(@EGYLZG;QQ9/[3BN.GHCI[5&>Z5FB+TQQX;F
M`P_%=>:R+EK?'1N-\738PC!LBJ%GA4RHW)\8!1AM=$(099L:&);?$CQW1#'2
M+KGEJD]<WE(I=`3'#!#XEXB;="Z,H/YEF]?GY&I9_OE=5TF8;H"7F==RW'VZ
MM47;"SU0]:WO"T>35L2^YIX;KMB]]@D'D:=\*LV,MS!)+D!M0R=6(VQ35EAH
MC4)/.37@[6*ZFZSVFJ/.1T:;Q4'(JRKR3-)J]P\GG!$Q:ZRCY@Q4C*;..\4,
MQ-+C:8UP7,^,=N]I4":(=[\4L&ZGGW<$F-Y)ODO@KQL/!L*P1,DDAGP`\#`7
M7,G4V9XZVTV$DM0@]3?[;EK;Y*G-HO\`:F\TNQ0D-IGBQK!C($LYM>4(5-8#
MM7D!3CE?4U!+5RBD2>R;=(2E@^.7%R+D\4/!?;)-XR]7.?C*!I(:SJV5A+:(
M;74F]%PDTDN+V!),L+:UH,W//B'DR!HH:BT^T3;".QAD=I1BY-FQG^A.1EM!
ME&F8O(M1J7"DD)[-:8W`+!6K\1O)XPYK0CPBS&<K&UPAKX[8^WIV.V=>J:T'
M:L-<X.TSX;0E%F&C"Q'@2,SCDEEW`FLMMMQCH[<$&LR\N&7N_)2WLDGN)@1$
ME$IKUGXB^O1HXD.R(&M'&+@V6V(C:;([<3;;;#A=%EPZP7(W&0I$7PJS=(\I
MRB3E!VKYLLEI;5ZU>7OU;IZP-;6+9IZ3<^80A&2-9I0<TQWC;7I;0'&0BU%>
M"]I;K?%V,FFT]N1:[(]2)7NLPX]F*W&<*G9R"_62_'"H1&*XWTGFV(K?ATUX
M9>TC;.:@KT@MM9(IZ8TN&S)I];./Z-&HIP3;6'6"*8^>D(*2`OP8[-B\'$3=
MS/=Q$@UV%,+5B%Y-J7'X3DHF@*P3J3)"VE\;<K6MV6Y6\5O%;WK=ENRWBMV6
M[*YI2E8A;CP>\YV:L)HS)%1`3<?[<ZH3<NW73XY`'-FPO-K5D%WA)^9<D>R,
M+8J"C&\$8B)@7`/*%P2PYTF'GD8P@]>/!PE=,UWB-O-J)]?7:_V%#\REI+;N
M*BBI6$O2&O\`$?U8W":B:<<RZS;D5:ZHP8OF!$NX'?C@4;KF>MDVP5D5PK9\
M'L9)X56STBKVWJ1<D6!'DPMQ)'"PI.6)4BU,;[E*[J1V_FI&,5+20TH&]'PR
MELM/>K98\A(TE3,ZHN:B;#3&<L2$%[()K-^/KP.OA@2:E[>%5>.FHB(T!&'G
MI6[XZ.LEUQ"P&WKJVM6`$D=Q,1':RC`SMFDB(K.-*<#G:B+!TF1['C_,2L]T
M>5@VV6NX5-_6(:O##V.26N"4.ZXQ`H)\82]IV_$5A.UTP4\EI>#A7;]4F"1V
MC#TW)<1L)]JT&Y1^Y72IM)*V^$=\U'G>N&DQ1>I4J,X#[JEUF_3-4G#<Z,YK
M77.]FU&;,U9F&(SH\5S?*\*R".]G[+\*/%*OFI1.OM%54VS@VF&X[F,#[BS`
M(KF:28*I>9SJE$C#0X^&AOJEQY"4?I;!B-QBPS&.I3?15]K.F"6TH+V>J^Z;
MRFQ;2)&>[T@5;E0XM.R-L62JQF<B)RQ(FJ<G.25%:>'.?43Y-84^SD+A4[*J
M*@]4MOQ*R\6,X7+Q'8]36BU)"@AIM\5-VYVL4I_CF>5C)_Z_2\,VB(4:N!$A
MU[FXR0FWL:PA8F0,&`HN5KGT3-MYNZ_Z2SI%^^AV55!E-D6.@7Q*[U79&=KC
MBZ33+IP>,.,J,T9XQHM'XP1=IXWF]\&&FW\)S;+NE%W:[9(2"MY1\C!J*XV@
MVM-O2E*4I2E*4I4'*>/+<F\0W<MO'F_M$_HXBZ9M7D%`5(UW&=L,Q]%"`L:U
MQ0_740'AU$DYHA/>QE=65%WKA<NW%@=U8JN:%D,-CB.2O9M7XM^T3>AB)Y@$
MC#6]TB[?P$'/NLK(0W>^B!F,`!=DM;(8*L781S6,.+STW.MO:!H*JB_8^;#2
M*M21FNZ(W'9:Z`*CN0S=!-XCVQRM+KLC5>BI,4F(RI3?VIS_`'2RV-)+,N8E
M6/\`7E0DAVS8QY77'RHLA.90KZ)FFPBP0"6<DRHK*QRE+!\KQU'/,RUGH/XI
M>R*RPM>9#3V%$0NOR_+\":;JI%^O^0')LF=DI<U$0)^=TI&7,.:#0'(F9GSV
M+;36TLHP3S<:"4-S8K.?`BM!-0GG+H-NC/6PCF;S7G9IQ(C&I)TIU6W<9(\3
M"/,()K-W8Q0?:.=BIUV>*DKY.A::1ME`*(#^1O.P07"RV.E"LI,$1`EA=QET
M&4]B'TWS\QJS6G]PK?HG[QD42<)5W5=RMKG8PT)VV'9,=8.G6L&41,2S'0B:
M`V6A8BFL4L,W2:6$Y4X``V0#4K_DB3BL;!;3(\0)<&,#7^/GQ/;YFUM-`[+C
MO<+N:C)1M4XN9#GF1:=11BK;=6'*9E=YOA+/ZWIB,<01%G64\A[..3,<NN%X
MT"ZF&-]-G2,Y.Y[N8["KMURE'=W6>"#S?3))<,BGHW-3IP_M=I5&6X.EU)%(
MQ@LPDT7P?5W'C>[3%M)A)XKSS*K3''+`IRW^!E\6S8MY@&$5$8<1++B?V/#_
M`%V(76HQ[L+%\<!-O>/91VP)B.#C)5TA[3:S6.G-L-\M&:6VWXG0YA*F;D4]
M@M(@(57!>B?W%LV]0V)M"HM>-=7!G3H#%^P$D;*&WJY9":[:FC")]@9N@MKI
MD"IX*N?6(]NODH.7GTX3KX49**(BZMM>(R(RB86!9$3LMHNXB4R2+M\/%P,-
MYV@L;9J:M3@5CSE/%(<*4Y85:3D5U"7;RHM.0*+WB@.%ULIQM<6%&JVL9%9[
M?&3)!.NA?+%'.VT.8:U^=K7Y7MSM:_*_CMS]:_OUS2E*A6XA.X$OZH;!J+KC
M[JG<0:_#^E^0$F)G.XUE#CERR9EMOJ9%[57')='!-FBAA*2I%7"`:T4(FSY%
M,4E$$N`-@9%!$L%(O$?W`B789W),@AQ$LL#4=E<19<GMKQDWG$BWGTOKGJOJ
M+M/%Y]E7>2J[%6+5XJD[$@,,\2..EV(9I3*.1T',CI0\W&^W[@M?B*[JN1RQ
MC"0<0Q2C2W*<^Q!'J;(,@L:8(MC]!8TD:\[#SH[Q!8B7W>IRLNN^,1-=UEO(
M*H8<+38TW)SG17(C'F`,G.9"1K=M?B[[0O=B#2"UM<TLRES`QS3W@%+5F<\6
MXK-,`G/\>Q7BB*F#FD%"#V]=*U'#\,RBVVQKG@R%5;?+7Q@),#/++U:+\-7^
MU&W"V:GK<MLL]SO:*SL/6U#E!TNQJM*,)6CI=M,L?[8N*'L5=5:$UI"'*T0.
ML)LD$HF]X<>>;E"9ZIF>!1W4]B!A&>AW"F?Y>V$1U_?62FRK[;I"G$'$/BF-
M&'/R1/V1O6>"H_4DS30!5(//5O.9P#\C,]%M(CT-NYLHL`NLTY//AD(04PS8
M%UYL59MUQ5-H$)#VM;D'FHV3146(-YW;"<JDXDE_!":*SI3,$9QVO8@R%)!8
MM'&Q:PXR3P6RCC+QRRT=E0[("1FT<W;,),H;6A+\+W%'V$0)9E!(*0BV7+'4
M3RQ)6M:N,HI[@BQ)6I6C2`3TGG),ML<_7CA";4CI7D4E@P1HP5DU2?S68`YN
M9E%Y*8"$K,D/-3A_[12EL:VY%*3449Z'([!56-BK-%+BN<8'?#4+/5@I3C$1
MGW$LXA+1P(-/<@;H26=)[`DA_P`=2RWDJR^D"M95(K39)R$TI2E*4KYOC:][
M9=O.WL996M^7&U^C>_OWM>_B]BU?5*4I7SEC;+ESY]G_`,N66-_SXWM>]O>O
MV5]4I2E*4I2E<7O:W;>]K6YVMSO?EVWORM;M]>]^RWLWKBXF%K6O?/"UK\^5
M[Y6M:_+Q\KWOV\O7]BG68<K9=/#HWORM?I6Y7O[%K\^5[]EZ^J4I2E*4KXZS
M"^71MGA?+G>W1Z5NESMX[<N?/G;U[5]TYVOSM:]N=O';V/7[?8[.VE*IM)9K
M205IU.1$;"`CN%]*"8JO1<2T@@05W:J(J&GME'47(HE0`C:V>2FXDI:"G&U$
M8P.21TXBFE\PRA4`+#'UL:3Z>,A9?*\V-:8+0UF25,@L/@Z4C9IAC.(^F/<"
M32`Q[`1.S"P#*R45`D8(J4#*D_/^'B],B^3EYJ=ZH'U7UO-R^J3^9@^+C,SK
M:0815:2QV6AC.Y2(&V]=HF^_%80IF*8.FV?E=G&E83&ZN::')JCGQ&]C9-MA
MT<X4\`G]GVIL2;,!8(S#=+0>S,B9,C2&4%`;RVP(D&A5BMTJ]D1@I\D"14SV
M@:,CMZ,!7+=)**@H":.H&V$F(S%3I!6O%49,DVF'V='K*:Q]%837BQ(.MYKH
MR.;2XT9(QXPSH_(&$\F`,49;5,*2B.W6R!F&C(PQ\X(GDR^9D;+.R);1;3`F
MX%=U$]5M?BCC71W@87%DI$[++*"L8D(LME7X*I&`$@/(X(]"KF<(+JR,=.Z^
M$O*^*IWU92-]=V\AZ;ZJ2NE*B)(>O,0.I,6E5L+BJ64V&@?S]79K1'CYKJ1D
M<J3+&1#B+'QHVP"(_76SP8AHRS,[YMD<5*SKXM!$)D\`0B<11F4#+NUK/XN&
M58S9+A`/=CM)(83,=X`0*:&&"Y6FQV^A,YMK06&!]$:R,E(":.62D\J5"L_'
MVA.ED4K!)P1SJS!#-6TW%&#3U1!C1L$3Q()LNY/?C1`*F,"%\P"S)=Z607V*
M6#OB78ZB5"$:(2*';(/+'3;CA40+MPN$1W&<Q9+1/)#S07VRVK&4+&P'05DA
M^@2))2ZB.ERQZL/"/GY):R&,5?SW:RS@J+Q4<LM!`I[\0FT]$?,M)U@UX0IE
M5MATB%XV3IP72HA56E,HT4<!ZGL1TD@@&C(JW@6L9LI'F\DI#=45@.^"PIM]
M'24-1/FDI-)%`+[TI2E6V>D-1)(YP11D",(_>Y\9N&&>*==K007";%:9MQ-]
MWFFR(852!H7-`,.MJ-ARCI&6=R`J\WD16S`R/)9(<&F'%K1KZ['>FO\`<<,1
MHKO=)<[E>9-UG&<B"+_GH>4<IL0NY:-J=BF)I1.NB+D5#CYPY*69P-9:"$AH
M"B$93D9,`*]-%>I&L4(IJ.DQ-`<3L`@WG==_((3:8Z$GYHCSLT%2/2[F236)
M3,VGK)"/EI58*4=*F`A$ACGS302N\VZ+DFU2PFB&F@H4J@B:PPAF%-PV!B5`
M\HZ;=\'F/@Z<7W@.J8]Y<@QL7[AB_P#$1.[QSL_;6>]LO/5:RO:LF3JKKG'"
MQ';A8D,1ZTW!$[2>+#CQ=0FX33UEK,Z05P!T/AN)ZF!CB=S2W8Z"X;F<!<Z.
M;\U7'<9=.9"JQ@P<%K%:A*'7$W7^T5Z*X\66M*JWFY9-;JFSD`ZBR"XA"J"1
MS7WFFCD,RCE6LB;6;)7S45PC9ZP#>1`K#]!*)6!L2J</?1Y;7W>Z5?5&!5)Q
M/Z\DV>*R=C1M&%!P@S$DJ"-+!-1,9DKYBITDE551,/E,PZM.=*N=,KZR5-KX
MN2G>IR^E>I9=Z#2)]3I#IE[FF*'&IUS*+"0%56462&R@XUR05,RJ$SEE,`Q'
M`0<>G32A@94C[$QLSCQTRV^:9>N83UYA'7%N'VE!D8,Z+FXJ*>"PI)3/1P$H
MN?40DXDCE3)S+#ICF;D$9-3D9,"&&S`2T=/(I2:$43R@!8.\M*4I2E*4I2E*
M4I2E*4I2E:KO=%_&VVUX2CSU;;NM,?08]2,UL^8E]VC3`TG\Y3"8<8"NQ""-
M=%S9DBL8(H3$!<Q_-4#4`CV8XF!/(N:(XABXF)#'5.<M;(IG"DCI5?B]!R%N
MM$JW.4YN*&U128CN<2NQ=?6!*Q77^/'F+=6<L?)CX6WPNNU956PMD).M'\1K
MJ&WG2FV45U:`Q4V->4SMG7_BH,UO['["]]\/,=&6H"EQ'DQ<2WKSEF$6'*AF
M)9><A0B"6F%2AHZLVQ;ZR[[K#IR93S:I=]'%MUE3KI7,T,6>[G!N4=TW^J3V
M$:46P_J<BSLD9D).4QY=EY^SE+\NL`XXG'*BT25G(IM37%/CY#P;;+(FB[<%
M<$FI1B2$MSHJ8VDK'//5E[92+KS$;QSF-I[""K#+3+F)P8[5NR6I*QDA<9+,
MOM%:V*JM%$8JXS!$50R*I:F:1,C`HXZ#D&BC$``K_4I2E*^!,KX!B9VY<\,,
M\K<_%SQQO>W/ERORYV[>VU8!:U;3R-,4F&&:Z41JIZ4$W5I7Q,HR<M%3MS*:
M>2BX`>0I]7.E[@YAG1KBXV`MGEECA?#/&ULK989:9*NP<F/A_P`DK")N&\#2
M9MKO8S6V_5S8^.R>J("-&VPT[QK&:(LPL4E$*1K,YMIC<;C-,%R,6&U3!53L
M'*7+*1;#%5%ZN+.+!-.RB5'K>@F%8@2)-F";'_KRS!I'F`\N1X@O/6R'SLF[
M./%;5(R0UE3=+%,+%D=M:TEFQ8HY)B9*P6G);+LEDC$$T[245\0/:\ML`^70
MZFK%B]!+LV8T$@YQ,PC,AI]+,2.;:O7F%2)T*$7DT&F-'4@1ZU)4=HKL6%\^
MH$QGXFK"N*F`-!02@2:A_%%XQ4RK)=Z`-^&HL>ZNNMG6-[PF=352>F-'!]*V
M5W59&H"4FF9+D:($4A,[>0`7ZD2<6FR#$4]'#O+`&VRA%+E!DAXJO?N+BE[4
M`)DI,MG05`:],VK;2W1D_80RYI5>S)BYV,#4%TM]IDR,/FL6DY70DO&7AW."
MIWN]@U%J1.`@G22XM.[S?05'&MX?XKDARI,;9)E=?7&+")Z0$.$W0I-N/9V<
MSQ0GR;U_1)K7)$3G@G1\+"3D8B.XE;*+PHN27>8G-0P!L_BJ"+S%8@-;;2$E
M.4I:T$>+'F3;Z(&MM#/Z[%#\8I)XRE`YK%DMG5/:*3"08L9.9)0G)'[F,/B,
M6NJ'5,5*25M33R808F0B6IY6&HY3XA4^IA^5FVA,V'4-#:NW:WI1"*@YU+86
M<YAD5:B1AK#[DJ2U6%X0C)=D)Y9W1R"8FEVLRQ#`B.4`>,N2`^D-K(P"$HXU
M.KBA;/;,Z_HLF0<RF1";11U/A=@RZJ*C_<&<KDG/N9-\$**RE1>1\ZA9-4&(
MWF$]"K/5A7HFH#B?QMTN]+1PFL=8?5NZX0W&1EP0FN.U#UJ,*[&DQQO*.]<E
M);19CCU(;S]2=EF?K&P#<\RD\&"6B=;84CK;S`?9Y?U^7W\;C1+2+LI9*.1:
M7DIP!YW:`2A/\AO7?E!V(5FL>=41;B)T9("<PEA45V$B-0'4K5UY@!M*RZ1)
MKJ&1<"V\5QY*;561UDZVG"XUA*LXE\J`55#,CU*4I2E*4I2E*4I2E*4I2E*4
MI2E*4I2E*4I2E*_&:)E#5\+F2I8S?"V5L+F"X0U\+9='I6QN+AET;9<K=*UN
M7/E;GSY6JU\Q09$<_L\JPIA8:&^FL46TASI1%3#,%CC>=#>R$&072U5M+,$%
MYINA%R%'Q2W&VE-*6B`)DV7*G@@#9D,6G&QJQKJT(;6M>V]#K&(PNX\5S!T1
M\(C!'T1W#N@SYH.=2>%U+(V==RXYC^61YQK[D-JBVO'<KFU90.&/])7YYYU2
MUYV;Q;P,Z1:@O\1J`.(JWU`X.KI"TF);O)`I;Q;H*^W%)'6Q&F\DXN5)/%H#
MJ`K8=A8D0"<*2I8D"=@+XH"&BMA"1FVVT=+;S=;Z2G(B"@H:>4245$14DF"0
M2TA(2R`1<BFI:81+@$D]/)``E"10`$L6!"!"PPQ[:E*4I2OC$(/"_/$/#&_B
MYXX8XWY>/ESM:U_':WYJQ)`T+T]*/-8D(E`+$(/!P.!X.M;64XLH)^:FY)!S
M6A'PMFR1)0`3A5%V#N->-+QFY/K%,XKGSAJXAHR(-?[=FC&HC[016VX-?X[Q
M2A;QUD%BWTH1FJ":+$;.58]C8RAK3/,H2TWCC0CQP+D>))U"4$XWA'ZLH,<8
M<9K&QDG.NT/5S7)N)A1&;T(QFA)!!P1.ZB"4D-%'34TBXH(16VVX85R1$F6!
M*E#D7H#.:J,R!"X0=F\FM])*)V(`)('#&TC(X<FCL<+A%R,O6F-4-92RB4FI
M9L)//&\4M%;LAMN6&BW$THH*!LD0:S"DEHM]YQPUBA<%NQPO$,CC%3&]D=4+
M&H1^.2RV.TS;@06^Q&&G)BUI%Q#YN6`L62U3!E4E!S+NN33=#I4%$XD&%$WF
MZD-5%+NI)'-YH+F-)S<5EU+4%=IM<\CSEQ;IGJ\T78QYO;\,-(C*J.T&<F)C
MS$Q4CZB4$1(S28U37$&`I*!Q.N^P8X(E(^%D;,EF_CC'`Q:1UR&&_?)/RR9<
M#&9[K566N.1M(RXL1RXS+O8:DID`#9QHN@XUW$R32^@#BX99IJJ8:+N<[<%.
M%[X#9I"\J$KY7!-BXY63?>G.L$EIETAYPJR50I>5%>;NL+$C"&HVE=Q)1E!<
M[XQ6$`TEJ^*R[&Z=/MIWY8GK%G8V5!1;CB+J:(H'"`]IB7#%T"3E:.5HCJI%
M!4[$9%$2HYP!2#6":V$UJ/50D9D$2J+8]YC&RT<O574EZ,`E(@=PC$P<&`8%
MFX2OB6QJP;073,T=EXZ>URC)2$GQ)=R#*X"HB75$YRH[^<!-VOU/*I*@.92V
MN6?+R()SW>F#0)H-W6^4Q*>J_=0=*605BUU(&UM@O6%JJC*@2-&[&;=7G",[
MG&50@S8IUT.XRDI"$;=CK6U0T?7'0Z3J,@(B:><3@4E)9.DTH@";.C8E0;8W
1OI2E*4I2E*4I2E*4I2E?_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>25
<FILENAME>g295807.jpg
<DESCRIPTION>G295807.JPG
<TEXT>
begin 644 g295807.jpg
M_]C_X``02D9)1@`!`0$`V`#8``#__@!`35),3%]'4D%02$E#4SI;5DE25%5?
M1DE.04Y#24%,7TE.0UU625)455]&24Y!3D-)04Q?-$-?3$]'3RY%4%/_VP!#
M``$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0'_VP!#`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_
MP``1"`#``3L#`2(``A$!`Q$!_\0`'P`!``("`P$!`0$```````````D*"`L!
M!@<%!`,"_\0`:Q````8!`P$%!`0%"@<9$0```0(#!`4&!P`($2$)$A,Q00H4
M46$5(G&!%A<YD:$8(R@R-['!T>'P)"4F)SI'>!D:*3,V.$-%4U155EAD9W)S
MDY66L[2UMK<U0D1&2%)UAI*DLKC2U-76\?_$`!T!`0`"`@,!`0``````````
M```%!@0'`@,(`0G_Q`!*$0`"`@(!`P,"`P,&"@4-```!`@,$!1$`!A(A!Q,Q
M%"(R05$5(V$()#-"<?`6-#4V4G61H;'Q%R5V@;0W0T1%5&)D=(62LK/1_]H`
M#`,!``(1`Q$`/P"_QIIIIQQIIIIQQIIIIQQIIIIQQIIIIQQIIIIQQIIIIQQI
MIIIQQIIIIQQKS?(%_:U)J+1J*;J>=)B+9L(]Y-HF;DH/'H`/($`0'P$.0.Y.
M40#NI%54(R!?VM1:^ZM/#=3SI,1;-A'O)M$S<@#QX`"`@0!`?`0Y*=P<!X[J
M1%%"XD/'CJ0=+O7JZCIVZ4,JX<*F[RBJAO,QAZ`````4A"@4B9"E(0I2%*4(
M?)9(0`P0'<Q'W./(B!_V[<CX']7Y/G0Y`Y;+"L&KUV!L$:=QY$((_P!\A'P/
MZOXCYT#VRLWJ9KLXXF!6,_+)+`I--EA*'T@`F,850.!0*@Z2[YS-E"@5,O(H
MG)X!A*7+Z%FHZP1S>4BUP7:N`'CIW5452\`HW<)\B9%PB;ZJB9O(>#%$Q#$.
M;`S7;J=<9*GR/O341<,EQ(61C3'[J3M(O0#D$?JHO$@Y]W<<<`'*2H&1,(!&
M8_(M7;VYB6@8DDGRT;,=EQ^94DDNOSLEE^[8:'Q>5>H_M3EGKNQ))VS1.Q&Y
M!\DJ3LN@\DDNOW=P?-K37RH2;CK#&MY2+<%<-7!?]JJBJ7CQ&[A/GO).$3#W
M5$S=0Z&*)B&(<WU=6I6#`,I#*P!!!V"#Y!!'@@CET5E=5=2&5@&5@=@J1L$$
M?((\@\::::^\Y<::::<<::::<<::::<<::::<<::::<<::::<<::::<<::::
M<<::::<<::::<<::::<<::::<<::::<<::::<<::::<<:\WR!D!K46ONC04W
M4\Z3$6S81[R;-,W)0>O`#J!`$!\!`1*9R<H@`E2*HH5D"_M:DU%HT%-S/.4N
M\V;"/>3:)FY`'CP`$!`@"!O`0Y`[DY1#ZJ15%"XD/'CJ0=+O7KA1T[<J&6<.
M%C=Y150WF)AZ`````4A"@4B9`*FF4I"E*$/DLB(`8("#,?#M\B('_<7(^!_5
M^3YT.0.6RPK!J]=@;!&G<>1"#_N,A'P/ZOR?.AP\>.I!TN]>N%73MRH95=PL
M;O**J&\S&'H````!2$*!2)D`J:92D*4H?FTTU5R222222=DGR23\DG\R>4XD
MDDDDDDDDG9)/DDD^22?D\::::<^<[=3KA(T^2!TU$5V+@Q"R4:8_=2=I`/`*
M$$>2I/$0$10<<>7*2O>1,(!F+"3<=88YO*1:X+M7`#\"JHJEX!5NX3Y$47")
MA[JJ1AY`>#%$Q#%,;`S7;J=<9&GR/O37EPR<&(61CC'[J3M(O0#D$>2HO$2\
M^[K@''FDL!T3"4)3'9$U2(I=M78_Q)B)^64?FI/EE'\64%MAIK%95J;"&8EJ
MS'^),+'7W+\GL_-T`_5E'=L-FUIKY4)-QUACD)2+<`X:K@(>7=515+P"K=PG
MR(I.$3#W5$S>0\&*)B&(<WU=6M65E#*0RL`58$$$'R""/!!'P>7165U5U(96
M`96!V"I&P01\@CR#QIIIK[SEQIIIIQQIIIIQQIIIIQQIIIIQQIIIIQQIIIIQ
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M))B<3(KY9U[9YUTZ8Y&'QYVK6V4[1#L0@B20=Q1#+G2\BP.=Z^]NU=`6=JCR
M)J9"I*CD[I[#N3%!,)Z&.J/CR%7?F3$4CE*)XPX':+E3%$Q"_M\^H"`AZ"`\
M@/S`0Z"'S#42=(N]GQU9XNWU"35B9V)6%1NX(`J(+H'X!U'R#81`CZ+?)!X+
MYBL(IK)\&`4UTT5TI6*'?:SFNLN+;4FZ<388E-,]\H1%/%7A%U.@SL"`\*/J
MJ_5`YTU"$`\<IWV[@B9R'(6$QV27)J5?M2^BEI(P`%M*!MIX0/`D`^Z>$#Q]
MTL0]OO2*O]/=1QYZ/V;!2+,1H6EC&E2^BC;VJZC06<#;V:RC0`:Q`/9]R.O]
M333^?V_`0^(#Z#IK.Y8>----..-?I9LW4@Z09,D%'3MTH5%N@D7O**J&\B@'
MD``')CG,($3(!CG,4A3&`S9NI!T@R9(*NG;I0J+=!$HG444-Y``!T```!,<Y
MA*1,@&.<Q2%,8,?]P&?FN.6LKC'&<F1S=G22D;>[W'K=Y.MI'`2NJI4G20]X
M)0!$49J:2$IX\Y3-6I@D.31?"66&M"UFPQ2%#KQKW)7(V(80?Q2,/))^V-=N
MY"CSC7+M3&U9+MZ0QUXSV@+HS6)B"4K5T)^^5P"23]D2!I92J+Y[W>MUT1@6
MRL:=3&3*\RK:6;+9/>%?J)Q35)N55)>IUI9,WNZD^T\3OO9E<B[1JY1+&JHJ
MG.N2,D-QYD.IY1JD;<J9*)RD-)$$`$0!)XQ>)@'O49*-!,*C&39''PW357J'
MU%D3+-5D%U:R_P!_(CU^/41$1Y'J(F$P\B/(B(B(F'D1U[M@//EKP+:PF(<3
MR5=DE$$K75%5Q29S31/ZA7+<Q@,1C.L4S'&.DRD'D!%B\*JR5$J6#B>KI8+;
M)<51CY6"HB`EJ0WI65M=\RD'<_=MV.Y(]$>T]9Z>]2[-;*.F415PUEU2.*%>
MYL6!]JR(P4264/XK8<&1V)FA"D&"2Q3IKI./,AU/*54C+E3)-.3AI-,>/)-Y
M'O$P+[U%RC7O&.QE&)S`F[:*"(D$2*I'6;+(+J]VULZ.1)426)UDCD4.CH0R
MNK#:LK#8((.P1\\WW#-%8BCG@D2:&9%DBEC8/')&X#(Z.I*LK*0002"#QIII
MKGSLXTTTTXXTTTTXXTTTTXXTTTTXXTTTTXXTTTTXXTTTTXXTTTTXXTTTTXXT
MTTTXXTTTTXXUB!NBW5US!<0K`P[R*E<GRC4#1D(N[;BA`MG!3`E/V)'QB*IM
M>AAC(X137F5TQ*0R3%-R[3_ONAW10V#88T)""TF<ES#0QXB(.8%6L(U5`Q"6
M"P$(8#%:D.!OH^.[R;B7<$$I129)N72=6_>1L]P_OB"3F\S-)(,HNP5.PS-7
METH_(<<N<3'31=NQ3]PLD`FH)`"LSK9>/;MDRMH9:$$J:Z=>O9[$P7HL5<R5
MG&I,?;N92ECTRTF,5]!9/HFNT/?<;VZI8]R%/WBPSR=D+ZQZXZZAQ'?B,;-O
M)R+VV+,:K*N-1A_HE@'MLIVJ;/L`B1U9NR-LMYZU/;1,R=AL,\69G)AVJ^DY
M-](M5G3QTJ/UU%#`L4I"E*!$D$$B)MVJ!4F[9)%!)-,OR??&?^?&0\=.0>-/
MWO&#J'/J(<\==4G=WW9Z[B-H+QW,6!HXO>)O>12C,MU`DBK!)I*&X;(7*+.J
MO(T:4,42$,27,K!.EQ%*(L$B/`%P)]Z=@(@+ER`\<=7#CIZ]?USD>?Y?MVKA
M?Y,6'ZHQ\69P?JG6RU"UMUMUNG/=#.=-(DP/4(EAL(6'O06$CGB<E945@0-&
M_L\3[G-MIC*S.TI0NSNQ[G9V,A8N68E^_P"_9^[SOFQ8]\9^8O60`'^O&O'G
MR'7QO(>?,1YUVRD9#G,=6>,M]0L*$3.Q*PG;N".VQT7""@E!S'R#85P3?Q;]
M,OA/F*W*:R?!BBFX3162UO?O;K_/+D./BY7]//\`R7S\NGGT^S7'O3GD1]Y=
M<#YA[ROY\\_YKY>77R'X:F$_DBO$ZRQ^H31NC*R.O3':RLNF5E8=1;##Y4C\
M]>0?CLAQ[P2QS0VY(IH762*6-2CQR(0RNCK(&5E8=RLIV"!KR-\V[5$R92LU
M5AS;JHM&0]AB4DU+[1`D6AEH)=3ZHSD$)U2&?U=^J!S)'('C1ZHF;+IIG(<@
M?3^D(_\`T1CO^$6/_P!QK4*`\>%$!*[=E'@2B)73DH]T>.2@(+`/`]!$.H"`
M`(AY<9$;9MKFY+>)DA#%.V_'-QRA<?=`DI5&%471@ZG`E5317LUWLSUPW@:=
M6VQU"%4F)Y\T155,FUCR/GZR+1:;M?R;8:E5K=_KVO6BKPF2W<EP"5JP5?+3
MOWYX1P#7F3]X(PVR@165!L*#J6Q.*\34OJ;C*$ED@;VULR@Z]U*ZQN(F<$&1
M48Q=_<Z+$C+$FUB-(QQ2F.:2C"D(43G.:28%*0A0$3&.8SD"E*4`$3&,(`4`
M$1$`#7ZVATGSQ&/9N&CA\NJD@DU(]9^.958A5$BBF9<ID^^D8JP&4`A/`,"X
MF!$0/JOAV;WL^N&-NCFLY$W+KQ^YO<"5PSD(BL&(_=X-Q]+)F*NU&%K4L1!?
M)$[&J@"Q;1=F:$`T62]ZBJ@V\%.4/[5VNFR3:+N[8M*M]$)0NY6K(`R<[DJ(
MK[L\KZ#-%8C+&TO&,EF<7DV`9.%"#)I39B/ZX*1F56FHEP9VS;Z%R..Z*QV8
M2JW5]VQ@DD]BSU!'TZ5C$[,H44L><L]JY752[33CVI$1#)#6L(4+R]C(_0X]
M\A?CBK(K(J1&PQDG=B/W,16NY,Q4EB!&ZQH"\I55\R39_P!QL3CIG)8SQC88
M]S=G2:D?>KU'2#44ZXF;ZCJIU1SXO_=4?K)34TD)3,1`6K,X2`<Q<<'O;,>?
MZ-9\\CS_`$8VZB/(B81%81$1-R(B/4P\B(B(\ZHH[I=H.>]H=K+7\J0;DT!)
M.ED:GD2OKOY"B7%),3'_`*4RQRI'82P)@*KJLSB+"P,P[RAF;AH!'JN*OO3K
MR]Y<AQ_KE<.H"'/^2``<_=SQQST#6VX?Y,U/JRM6S&,]3:M[%V8^ZA+1Z=6>
MJ(21W!'7J+9E#;6SWJ)A,I2549/;37.8FL9VR+,UD+`BE:=:).Z"M`6!*H3(
M.^1R.Z>9A[DLFNX*JI&FQ8!XS#C^C&0^H</6ORZ_X=Z<]!`!ZZY]\9]>7;,>
M?]>-0$1Y\_\`#A`..OE]FM=+[TZYZN7(_:X7^/G_`(9SQSSR'[WEKW/`6WC-
M^YJYIT?#%3F[7)IBBI,27O*S"L59BL;@LI;+*Z.6*@6(`4YT@<*B_?"F*,6Q
MD'/=0-C7OY*-+&5+%_(^I5>C1J1F:S<M].QUZT$8UMY9I>HUC11L>68;.@/)
M'(@XM0"6L:4#98Q@*!X\DF30'GY)U_QYL7,";B9_`MJ^FHE\TDJW(G01ME67
ME&J3.:9IF[A'+=0ZPIL9QB4YAC)'@`$1%B]*JR6$J4_>/,A53*-4C+E39,DE
M#2:8@`B`)/&#Q+N@[BY1H)A492;%4WA.FJGD/<51.LV6075H=;+^RFQ%MM^B
M;UDYPUS5FAH*#YO*RC=P;'](D""!R&I57D^\,C)-%.`3MMG16?@<H+1,1`&Y
M$\Z>!,^6S`]M"9B#*2==DU$4K7557`IM)MFF(E*Y;G/R1E.LDSG&-D^[P(&.
MS>`HR7.">A6RF"Z8RSXC#9^WU/@E8J^4FPYQ$<<Y;[I:%9[]ZS-2_.0S+5D9
MNZ2&N1]T]RZ-ZV_P=L+C;<TMK"2O^,H>^A*YVTU==L[UF8DSP@`[W-`ON=Z3
MV*--=)QYD.IY2JD;<Z9)IR<-)$$.>/">1[Q,"^]1<HT$QE&,FR.8$W357J')
M%DC*MED%U>[:O$<B2HDD;K)'(JNCH0RNC#:LK#P00001X(YZ*AFBL11SP2)-
M#,BR12QL'CDC<!D='4E65E((()!!XTTTUSYV<::::<<::::<<::::<<::::<
M<::::<<::::<<::::<<::::<<::::<<:QTR[GFOU:67Q)3K/45]P-AJTE-T&
MC3S\[8)19J)`3166*06:,F\;^^.J[#2#M@K8E(YR1!0C)N\=H>&;WM[M<VQU
MPU:K1F%AS/8F!E*_`*'!=E66*_?23M=K33.4Y&)#E/\`0\2)TW4^[2$A11C$
M7KU*L3/W*VVJVR-\L-BEI2YRLQ]/OK.L]5),J3)5B+H2"+Q`43LEF2B2(QP,
MO=TXQ-!LA'D;(-T4R5//=218]Q3KCWK!.K#(W;]/&1]P1P&`L]IVFU98CII%
M;PATIZC^K5+I6PF$Q:+D<F7490QS>V,;6?7?'',H=5RCQDM"&22.J>R6Q%)M
M8'SUM<C99>RSLC<G$HYM;J4=C8%9LJB<M]*IJ"DZ0?HJE3.U6:G(#8K,$TDF
M22:;9!))!),@?`Z<^H^?'3X!P`\>O4/+Y==>MXUR7%;PHM"M6AU&0>Z:#C01
MAIA<S6+A]P,1&MQ\..>FY1:1^4H]HD(-U@!-M8VJ0F`")D63B/+'K)Y&O'4?
M(-'+%^Q<KLWK%Z@HV>,W;904G+1TV5`JK=R@J4R:R*A2G(<HE'XCK&[6:)A.
MLC6*]@L\5@[[G.PSI.-L4L(6'NH6.R1(C/$Z2-IV=8YXX\G4LM?Q]]I'AN/X
MF,P(>>M>0L[09"`N/J8G=@W<EB&2:M-#/)\YXS:2+-Y'/VC5_'/VRK&08/F[
M=XQ?LG)#)N&;]FY36:O&;A,QDUVKE)5NL0>XJF<O0:\/:0=D_48RGV3/FU:M
MNX60KY7$]?L-0Q3NX)Y7DDU%Y>R8XCQ\1Y$/H0A!?R5+:'=1KZ+!Z[KZ$>Y8
M_1KRQ-]H?H'U#IY"`<?F^7/EKGG@0$HB!@$!`0XY*8/(0'J`CZ\\<#Z\]0U9
MNANO>H?3_,P9?!7)8T$L1OXUI7%#*UD8%ZUR`$HW<G<L5@+[]9F]V!T<>>N"
MQ)7<,A.B1WH3]K@'>F'Q_8VMJ?(T>:Y?D#%`Q1*8H@!@$H]XHE,`&*8A@Z"0
MP&`0$.A@'O%Y#CAUZ"'4`\NH\?/X<?'CITZCTU.%VM'9[_B<GY'<QAN#!/$M
MNE04R+5XIKW6N,+?*N.`F6+9N4",Z%;GZH>$0I2MZS9W!XSE&+EH9-"#SJ`B
M`_/H/H/EZ^0^OIY?'S_47HOK##===/4NH<+,'K6E*SUW(-BA<14^IH6U4?98
M@8@=VNV:-H[$/?#-&[62*1)8UEC/V-_'94C6T8#X9?`(_L9=JP)_T40*<HB4
M%``P"8IC'`IR@(")1,F(*%*8`[HF(('*!A,00,`:O7=D+F#%]GQ9CJ3V/4UC
MC2V14BP@;?BRN#])3["_*,RED6=X?.C_`$G>HFR-$5Y%C:K*NJC)U\%U#+Q;
MJ&?(1M$\.>G3CS^L`CZ>8?<`^8!U_?RTV:;S\W[',M+95PC:I&ON9^LRE`O\
M.R<D;-[ICVP*(#.5U=PHBL:+D`,@D_KMD8@E+UJ:00D(]RF0SQ!Q3_6'TZG]
M0^G(JM'(7:.5P]@Y''10VI(ZE^5%7OJVH3*E?WI`@%&[*A:A8/<&6"6TC\@H
M]R&0R6H37E6='INJ6"T1[PL)=TC25B.V&1VU"Y#G:AD;:)Y8RR=]1<@1N!I2
MHO<HU`K1AN`94J9>RDQCEH[CD%)LU"*JP:^_0B4H9W'3\_%++KUM5!PU%-)X
MV64C(H0$#!T-R`]0'D!`0-];GO<CW@$?K=[O&[PB)NHCR,>VUG=$+UK1=Q.`
M[6NR7$#N&:YP(HY9N"]Q*P4RY10*F1<&()C1]BA7)SH/$CI/VJ@D6CGX2[G3
MIFX6F2>9,,Q*4'880A'.9L*-#BZ>TYXX$?%NM)0`/>9;'DNX!14Z:*0KP#DZ
MC=1!%-%=!O\`F_FX;EFS8AM5YJ63Q;SUKF)F4I)$8)&6=HHBJ,+$;*?K8BH<
ME#-'N)6C@B9NI9>M99?>C:AFL8+"/@RQ,<E2)V>2SCP40M<A4;RM<H)9/;^N
MK`UEFKT,'=R\QA6O8(R7/;B(F`G\.Q%>7D;C!6)BA),I@B)R)146P9K<**66
M4EE6<;6%&!T)-":=M%6#ILH0RI*$5A>1$E8)Q_7X4:S`OIF3>PM<-).9H]?B
M';Y=>,A#S+WAY+'BF*B#!22=?K[XZ`NU@`ZHAJ9'MA=ZY<TY(+MUQU+@XQ=B
M&;6-;)!@N4[.[949E78O3)K(G,F]@*&FJYA(L0,=!W859V52%1-&-5)"L(@'
M(B)2E`!,)A'@"@``)C";D0`I0`1$1'@``1'7O/\`DX]`Y'I'I&7+9::W'=ZI
M:O?CQ4DTJUL?01/YI*U0L(ER-R.3W[$I3W4KBI6;VWBF1LNA`T,.V+=\I5RF
M_"+H=OV[_&RG;'6_PJ0"IWZU@K"]UW"Y:I.'L?M`<V6[3"4<BY6(8S"%C$@,
MZG+++G*`@C#UV*1=2LBJ80`R;<K5,PN'2!#WKL"X,Q]MQQ95L28UBD8^O5J/
M;I.7PM6Z$M:ILJ10D[;9ET"$-(6";=>([=.')E3,T%$HQF9)@S;(DC-['_9B
M&#,3#GJ_1`M\LYHB&JT*V?-Q3?TK$[@R#^'C/#6#OM96\*)-+1-<%(H2("MQ
MBP%.B\3-,EZ_#U`0YZ?#S^SX^?7G@-><OY1/J<>K^HCTSB;/?T[TW/)#(T3?
MN<GF4_=VK1*GLEKTB&J4FT5+"U8C9HK,?;'9"Q[CB%""D1^XCX>0>"?@?:GE
M5_+?<P)##3KU`/EY?O?IZA\0UR//E]H\_+T`/E\/(!'H'S>@]!#GY<>7/(?O
M=/+GR^?H.-\<3>2IQ:-CG#"(B(E@M-6VW3:Q6E:IE;9E.J^GI]\H=-%NV133
M4\!N*J:SY<HI)"1,CEPW\Z1123R)#"C222,%1%&RQ/\`N``\DG0`!)(`)YB0
M036IHZ]>-I9I6"1QK\L3Y^20%4`%F9B%1068A02/==GUUR/3\B+KU-RR3HZ3
M/Z7RL-B?FC*9$5&/*87=FF9-0IT(>0BVY%AB'I4S.7IR*1JJ:\>=T=M--B_*
MM`S/3V%\QI96-IJ\@LZ;(R#+Q4SHO&2HHNV+]DZ30?1K]N;N'59/VS=R5%9N
MX\,4'""BE7K<=N/AK!!C@K!OOL3A"(?D=3DZY*+6R9ILK,Q0_"JT=T$U$*XB
MLF56KU<Q4VZ**;:0?H$739-&'3MJVZN^[6+V%BKIE)JH32K5&^41=SX4?9(]
M$1(F\9J*`*<99XQ)10\/+@`%'O&CI,%XIPJFG=\+G(L,T6/EE:S5+,9YU)9(
M)G*CMJJ`2]>,AO<.]RLS2Q*``LUKZ;]5\?TGDJW3\LCY+!B1UR&5B=I8Z=R5
MD'=BXALSXRLP<67&WN2226J:!(T2[;XTUYKB/+E$SA1(7(N.II*:KDRD(`;@
M$7\5((@4'\'-L1,96-FHM4P(/F2W4ANXL@==HNW<*^E:V6CI(BR1LKQNH='0
MAE96&U96&P00000=$<]0U[$%N"&U5FBL5K$2303PNLD4T4BAXY(Y$)5T=2&5
ME)!!V#QIIIKESNXTTTTXXTTTTXXTTTTXXTTTTXXTTTTXXTTTTXXTTTTXXU@%
MO>WO5S;%71K5;,PL.9K"Q,I`5]4WCL:TQ6[Z1+5:R)'*=-B0Y3_1$1WTG<^Z
M3,4@HQK=Z\2XWN[W:YMCKIJS6C,+#F>Q1YU8"`4,"[*LL5P.DG:[6FD8#IL2
M*%/]$1`F2=6!TD<I#(QK=Z\3K!6FT6*[V.:M]NF7]ALUB?K2<W-2:_O#V0?+
MB'?56/P!"$(F5-NV;($2:LFB2#-FBBU012)3^H^HUHJ]*DX:XPU)*-$50P^!
M^1G(^!Y$?AF&RH.B?57U5CZ<2;I[I^99<]*A2W<0J\>'1P/`/E7R+J=QQD$5
M@1+*._VXVXM-HL=WL<S;;=-2%ALUB?K2<U.2:WCO9!\OT.JJ<`*0A"$`B#9L
MB1)JS:I(M&:2#9!%(GPOMY'D>.GI]_3H`]/3YASSIT^/R^_R]>GF'\^=<_#T
M_@]/Y-:Q9F9BS,69B6+$[8L3LDD^22222?S)/R>>0))))9'EE=Y997:2221F
M>221V+.[NQ+.[L2S,Q+,Q)))//ZMG3IBZ;/6+IPS>LG*#MF\:.%6KQF[:JD7
M;.V;EN8B[9TW6337;N$#D606(15(Q#E`P2HXTR5%[P8IK6+*O'0>Z:"C"H0\
MRJ9O&1&X&(BVW!64BKPDUC\I,&:(B@N;PVMB;IB).X0BJ,1%1\//Y^?7TZ_'
MR^8\>?01U_=LZ<LG39ZR<N63UDY0>,GC-=5J\9O&JI%VKMHZ0,1=JZ;+D37;
MN$5"+(+)D53.4Y`,&16LB(/%*GO5IM">$G7=K\,D;:)CGCVQBE`)7N965XGD
MC>=Z?Z@GP<\BM']9C+?8F1QSOV)81">R:&3M;Z:]7[G:I;5&:-F>.1)JLT]>
M7/YXQ>1SQU'2#1S'OV+I9D]9/$3MG;-VV4.BY:NFZP%50<(*%,FJBH`'(<H@
M8.I1U^7[P'S#UZCQZ<!Z_/S'XZ]:QKDN)W?Q+6L69Q'0>ZB$C@0B)I<S:-A]
MP43&-S`G'OS_`*RTCLI1S)(`;KF\)"R((F,7ND*HC$>7/63R,>.XZ1:.6,A'
MNEV3YB\04;NV3QLH*3AJZ;JE*HBX05(9-5)0H&(8H@("'`ZZ;=3Z?LDC?WJL
MW=[$X&M]NBT4J[/M6(^X>Y$20`5=&>)T=MDRQ0/!!?H3_5XRYW&M9[>QT=`I
MEIW(@6^GOUNY1/`692&2>"2:K-#-)UZ?@(.UP,S5[-$1\_7+%%OH2?@Y5N1W
M&S$/)ME6<A&/VJ@"19H\;*J(JEZ'+W@52.FL1)0E+[M$=B\YLURD0\$G(3&#
M[ZZ?.\969R(N%XU1$`<R&/;&Y+R`V&MHJ$.P>+=P;+7_`'>72`SQO,HM+M]?
M@)JTS497*[&.IF<F7:;*+C&28J.7CI7D0(0H\$(FF0IU7"ZIB(-6Z:KARHF@
MD<Y?-]]];P'+X-O&S>3AJYE2W7?W`N7LD%0;237&$S`NPD(>O8>?K`8K2ZUB
M73!::N"'<$AR/:^L1="0D(Z+VQZ-^HV1].LY)>D:27I>X8X,[2))]TC8KV:"
M;4-DZO<74`JDE8S13O&KQ2Q=]:Q'CZMG(WIA6QL/[MW92[V+94M!5IQ`AI[3
M'3.%(2"OWSSO&@0G7D?$/GY^?'(\\\AY\]?O$1XYYT^7F'YN@<C_`"^8AR'K
MKVS<#@FZ;=LDR^.KFCXIV_>?UV?;HG2B[96G"JA(^P10FZ`FL"9F\DR$QEHF
M51>1K@1,BFJKXISY\]?@`]?MZ_8'[X]!ZZ_3/'9"CEZ-/)XRS#<Q]Z"*S4M0
M-W1302JCI(A^1L'3`Z9"&5PKAAR:BDCGBCFA=9(9462.1#M71@I5EU\`^=CP
M5(.]$<S"V<[L;#M@O_CN!?2^+;2X:H7^JHF\50R28>`VM4"@<P)IV>#2,;PR
M`*:<U&^/#.SAXC1=G-UNH[0-_MNQ57[?MRR4XC<HYFK$JSQW<J=)"DO$4*=8
MGC+1<.\4#A]=LY/!1#%^B)T+.91THW3?5A04*P?(<B/7J/4/+GK\>>0`?/CC
MX`/4.=?T,LLH5$BBJJA$""B@114YR()'64<&30*<1!%,SA998Y$BE(*ZJJPA
MXBISFUCU3Z.=+=4]8X+K.U&8+>-FCFRE6*-1!GEJQ@X\7""O;+6G6$2RA9#;
MIH*4H[$B>*(LX*K8RM++@RP6J<B2LT+&,SO"`U=WD4JRRP2!2)%V9(U$3:55
M9/YB(CSR(B/J8QC',81\S',?O&4$1$1.<XBHH8PF.(F,(ZE`[+'9I^JDSDG:
M+G%^]86PZZC+%=".DA%A;+&=0SFI8^`Q@`CA"3<-32]H23.)D:TP.W5[AIIF
M)HYJ33;)D.VURCU",5E[/:I=G"0D>B`B+A\\/W"BJ8!`$6C9(%7C]R?@C1BW
M<NE#%(B80V!6S3:IB#&FSNCU[;BZ>2=CQ;7D'6Y&JRG@K6Z0ODB4#6?-,0"!
M"*S-%LCM$K=FW12,M3H:.CHA4I2L7*:<#Z]>H<G1W2\N(PLRCJ;/5YHJHBD`
MLT,8H$60R<2+]_NJC&"IVE9!,TMN/O7'S+R5E<M[M:"6)KYKR68JI<"U-!#K
MZF>O&?,S5TW*R*WO=BRSHCQ59V3NW``'`%*7X`0A2$*`=`*0A`*1,A0#@I"%
M!,A0*0A2E*``Z<=//D..O7[`^_K^CGRY<\]>0$!`.!YY`P"')1Y`1`0$.!`0
M$0'H/(AUUZ%CG'$WDF97CXY=C$1$.R5FK=;II8K2MTRMM2G4?3\^^5,FB@V1
M116%LV\0BT@LGX"(IID<.$/S8BBDGD2*)&DED8*B*-EB?^`'DDD@``DD`$\K
ML$$UJ:.O7C:6:5NV.-!LL?)/SH!5`+,S$*B@LQ"@D<XWQO-Y*FUHV-68Q,3$
M,%IRW6V:6!I7*=6F8"H_GIY\H9-)!NW1(J9NV\4B[]9,R20D3(X<-_%-QVXZ
M$L,$7!F#0>0^$8AZ1S.3KE/W2RYKL;,2E"UVL"D251KK=9,#U>L*`5!!$C9^
M_;E638,X_G<?N/A+#"A@[!8/H;",0\3<STXY3%I8\U65F8I?PJM(@!5D*V@J
MF!ZO5E.ZW01*@_?MB+$8LH_"SU'[>1_-YC]H\#Y\C]PAJ4=XZ4;UJSK)-(O;
M;MKY#*=$UJQ(!$`/B64>;!!`U``'KG4?4<-6&?"82=9?=5H<QEX6VML'\>.Q
MSC17&J1VV;(T^3=>U2M!0+0.1Y\_MZ<\^H_,>?D`?;I]@^OYOC\^OI]W'30?
MO\_CQQ\^OI\O(?/KZ\=`#D!X^SRY#GX?/S^/0/D,?_R^.:\YE%M5W5WS:O?`
ML->%6:I\TJU0O=%<.C(Q]DCT3=TCQF<_>1C+1&(F4^AID"&*!1-'21'$6X52
M):MQ'ERB9PH<+D7'4TE,UV:1'@>`1D(J01`H/H2;8B8RT9,QJQO!>L5_K%'N
M+HG7:+MW"M+$1``YX\NOEU^W\VLHMJFZJ][6+X6Q5XRTU3YI1LA?*&NY%"/L
MK!'ZB;QHH8#HQEGC$S&&'F2ICR4#1LB#B+7533M73W4+XUUJVBST9&^?+/6=
MC^-!Y+1DG<D8\_UXQW]RR[D]+O5"?I&=,/EY);'35B3Q^*27$2R-MK-=?N=Z
MKL2]JJFSLM8KJ9_=CM6]]->:8BRY1,XT.%R-CJ93F:Y-)F`!$"HR$5((@4'\
M'-L.^=6,FHQ4W@OV"PB*9NXLBHNT6;N5O2];41TD19(V5T=0Z.I!5E8;5E(\
M$$'8(Y[.KV(+<$-JK-%8K6(DF@GA=9(9H9%#QR1R(2KHZD,K*2"""#QIIIKE
MSNXTTTTXXTTTTXXTTTTXXTTTTXXTTTTXXU@-OBWKP>UVM)UVOIM9W,EJC%'5
M8@W!3*Q\!&J*K,_PNLH$,0PQZ+E%PC%19#E<3LBW4;]YNP;OG:6?.L5]UNU*
MB;IJ*:!GRDAKA#).EZ->&[8JLA79%8I1.W<D`R9I*O21TTDYF'54*5<A2.V:
MC62;-72>#DENM2G7'LB6RA]HN/\`[@C;"I(5V(V;:A]$Z&V6N=61=03=/9.+
MI>:"#-M7(IR3C\]CW5A<D1Q6GB[UK2RAH4F*&0*NW2I;:;38[O8YJW6^:?V*
MS6&06DYJ:DUA7?2#U?COJJGX*1,A"`1%LV0(DU9M4D&C1%!J@DB3X'V<>OV<
M^OQXZ_;\/,=>CY8Q->\)7J9QUD6%4A;%#*%$``3*QTM'*G4*QG8)Z)2DDH62
M(F91F[3`IRF*JT>(M9!L[:(^;CY^@AY?/SZ]/LZ_$?S:TC*LJ2R+,'$P=A*)
M-]X??W=_=Y[][[M^2=[V>?GG=BMPV[,5])X[T<\JVTM!Q96R';WA.)?WGN^Y
MW&0O]Q;9)).^<]?00Y_GUX\_0>.H?HUP(=.G3D>OQZ_8`A]X_GYX'7/IY<?9
MT^?`>0]>.OEKCU$!X$1#]'P^0<\^O/YM=?\`?X'\/[_\SS&YS_'_``^?E\OL
M^?D.G7^7X>?EY]>/NZZ>GKY>@]0'CRY^/SUQP'D("/S_`)>>?+H/H.G]_P"_
MZ\<_0T=NX]TV?,'3EB^8.4'C%\R<+-'K)XU5(NU=LW38Z;AJZ;+$36;N6ZB:
MJ"I"*)&(<A3!*KBS(4?O(C6U4L"K&(W60<8H2(EU/`C8?/T#"L16.VE%2E3:
M1F38F.;JJ"],5)I.,6QEE!(D15*'C#JE3LM[LD-3J="O[%9["^2C(:%C$O%>
MOGJW(E(0#"5-)%,@'7=O'"B+-BU36>/%T&R*JI+0.R39)6ML%:+8;`5E8<RV
M)@5*R6(A/&9U]FOX:RE4JIE2@=*.24(3Z5E.ZF[L#Q$JZH(1Z+%@VL?3^-LY
M*26'MWCVT+A??8"/,9B(\K;39:)E/VJ3[H,+M'+MSTEZ?SN>RL\%9-=-L$3/
MR6%8U6`!,"U-:UF(N\R5)HSNNC2&P)*LTE:S$WF[,$9MABYW#&*)5O)9RE&J
M\)F+*L<8PDQ^BL4HO<:8Y>"4JB,R4IP2M=G3*1PV4,5LR.F_*D2#ADS/G7&>
M`:F>X9-L:4.R4%5*)C$2>_V2S/R%,H,=784BI74FZ,(_K[@YT(YB!O&E)%H0
M0.:UUOUV%QV?8Y[E'&#-I%9IBF0"\9`*3./R9'LD>ZA%RBQA(BTL[5`@(0,\
MJ)2."`E#3)Q9>XO(FI+E39W@R_W>8FLOXI&<O;192$EAM4S=4)2(4BU3-U(+
MZ+"P-4(1*/<%4(K%-&3-!-P*JQT3K*'6/+IC\/0SE:/JTY:/IN`,88NGZ]66
MU8C#(?IT>]:K0UY9?Q6[3_4S=X!6!D>-X_GJ3@\EA.HXJ_4*V!TX@D&!.*C4
MUFIAE9H5^HE58L@Q*ODYIC+8EFU(H>LU8QUTMW.[VU[J+%'&=5^+J]'JCF1-
M3H%)NU>SZ*<B":3E_/V44`=O'SY)!N9>,C3,Z^T.FGX+-TZ2"24P]X-QY&^/
MEZ^GZ`'C\P!ZC:J_4!;/?+\1M<_X:NGI_P"LWS$.?,/OZ/U`6S[UP76_/_1J
MY^7_`!F#X?;UY'7JS`_RD?2[IG$T\)@^E>I\?C*,?MUZT=;%,%#,9)'>23-O
M+-++*TDLTLKO))([.[LS;.+5ZSP5*".M5HWHH(E[8T6*OH;.R23<+,S,69F9
MBS,=LQ))Y56X$/(!`/7IR/R'X!^?D.1Z^6N.#=>0'GR$1#RXZ#\>?,/XN@"%
MJH-@6ST?[1E;^Z:N8]/C_BFZ]>GQ^[0=@6SX/[1=;^7].;G]_/\`5-P'0.>H
M_F$=2P_E6]"``#!=6?D?\6P_ZK\_]<_P\Z/Z_ISO_P`/,3_[-D=^//M5M^-;
M_P#2_P`]<K587S%=,#9"A\E4(\82P1"3QGX,S%-Y:-?1LFD#:4C73=<"KHIO
MFH&;J/8URPDVY3F%H]1$R@*V==B7::5ZXVZKS]%GSXDSY"?6"G2SHKB.LA#%
MXE(^NO'(H-+I7I5NF)9.KOTVTX1L8O+-PLV0E4^O_J`MGH?VC*Y]\S<^.OS_
M``G_`(Q#IKW;;OV0F`MQ>1HRCX]P'`(+(*-I*?M2LO>RQ5(B".0YGI%TWM2*
MI'":A!"%8-'",E*2)`08'1*DZ>--7>H/J;Z3>II@DDZ?ZSQ_4T")!C,Y0IX=
MK<?:[/%!:@_;D:7:B2NT@1GBFAV[06H`\ADP9<MCNH;]"+&TLVN?]^%,79Q\
M4`N+85P\/:%N)W+')N0,S1F$!I!/"ON,9X:?4:;NRB_QFXA6K^.Y".61-GK'
MTR]]UBL8++-GC][?:VJJ!#R&/I5*.DW;:/(8CN.?I*QQ2H)$<$98?;CMQ\)/
MPOXCL$F?16#HMXFYG)UR46EDS78FW<'\*K4)2I*IUM%1,AZK6!*FV2;D;R+Y
MN18&+..LB[;-M>-]KF+8;%N.V;I1BQ;(?35@FW2\K9;;*IM4VBLQ8I=^JZ?2
M#DR"9&S5)PY738,4TF2`F*0ZBL/W:"]GT:FFF<ZX)A#GJ)Q<2F0<?Q3?OFJA
MC"99W::JR1`3J5HYS&7FH)LD=2`.962CB&A3.6T3I'*8"S4HR6JBQM9E4_M$
MPH4<QG6S71698HW\O<CB)#.?W9%96CYM7K?HKJK'='I?HI5DR<U<GK!<9$Z3
MO7[5+#'HC%(ZK::3-15406'!:!(\<):PAHX'D1YYY]1$1'KQSUY]>.>?0?CK
MCRXXY]>@^7J/(CUZ\_,?LZZY#J`"`@8!`!`0$.!`0Y`P"41`2B`@("41`0$!
M#D.!T\_+GU_/Z\]!#S_>Z>O-"YY@YP/(=?SA^]P`^HC\_EUZ:Y]1\OB`<<?+
MS_DYZ_#7'3K]G4>G7I^81#IY]``?GKGX^OP\O(0#R^T0]?X-??[^?^[X_P#[
M^8_WN/AS\_Y\AY#_`"@'QUQT\NOPY'D0\_CSY_`?CT#RXUSP/Q#S#T]/A_+\
M_(.FGW_P#]GZ>.0]!#CXC\XYE%M5W5WS:Q?"V*O'5F:=,JMD+Y1%W`I1]CCD
M1[A7C,Y^48RT1B)CFAI@"<"',=)E<Q:QTDK6&)LKTG-E!K^2<>ROTM6;$W44
M;**)&;/63MJL=K)1$HS.)CLY:)?)+L)%L)E")N4#B@LX;F175K1;)-DMDW06
M0MAL1)"O86KSX$K#8DBF;O+0_;F*96I5)<Y>#.A#ZLY.)E5;P*!O`2\68620
M;V@ZE4ZW1*U"4^H0S"O5FNQZ$7"PL8B"#*/8MB]U-%(G4QS"(F4776.HY=.#
MJN72JSA954^S.CH\DE:1ISVX]]FJD@/N%RP[GB^.V!O.][#R?<@'WEO6_H-5
MZKAQ-F7(/V=,3[?#U[2N;+66<&:Q1)(]K'2#O[U<,DUG][6"?SAYNPZ:::NG
M/0/&FFFG'&FFFG'&FFFG'&FFFG'&FFFG'&FFFG',5]UNU*B[I:*:!GBDAKA#
M$<N:/>&S8BLC7I%8@=]NX(`D/(UV2.1(DS#'5(5<I$W;11M)-6KI.JKEG$]Z
MPC>YK'61892&L4*J`].^K&RT<L8WN,Y!OS)IDDH61(0QVCQ,"F*<JS-VDVD&
MKIJC=2UBONMVI47=+1#0,\5.&N,,1PYH]X;M2KR-=D50**C=P0#)'D:])&33
M3F(=14I%BE3>-#-I-JU=)U;J'IY,FC6:RJEY%_@JV576HW;X60`=L<A_+2.>
MS31Z<]4/2^OU=7DR^(2*OU)7B_\`=CBR\4:Z6M98Z5;*J`M6TQ``"P3M[/MR
M5ZAO'D`@''0/7^7I\Q^`@/GSKGH/P']X?X^.O`>7/Z/1\M8FO6$;Y,XZR+#*
M0]CAE"F$"]Y:.EHY8YP83L(^$B9)*%DB)G.S=D(0Q#E69NT6L@U=-4?.`\O3
MGRZ>73T^[^?&M5R(\3M'(K1R1L5=&!5D=?#!@=$,"-$?J.>,+-:Q3L35;4,M
M>S7E>&>"9&CEAEC8J\<B,`RNK`@@@$$<#_/@>O\`/CJ/YN!UV"J5.R7JR0M/
MI\+(6*SV%\C&PL+%HF7>/G:W/!$RAP1))%,#KNW:YDVK%HDL\>+(M4%52*I4
M[)>;)"T^GPKZPV>QOT8R%A8U+Q'D@^6Z@FF!A*DDDDD4[ATZ<*)-&+1%=X\6
M2:H+*DM!;)=D=;VP5L+!8086/,MB8IIV.QID\5G7F:P$54J=4.J0JB<:DJ4H
MR<J)$7D^Z3*HL5"/08L&\QA<+/EY]+N.K&P^HG(V%'@^VF_#2N/@>0H^Y_&@
MUYZ`Z`R77.2]J+OJXBHZG)Y,IM8E.F%:L&';+=E7\">5A0^]-]O8DO&R39)6
M]L-;"P6`&-CS+8F":=CL:9/&95]HJ)5CU6IG6(51&-2.!`E93N).[$Z1(NL1
M!@@Q8-\^---;=JU8*4$=:M&(XHQI5'R3^;,?EG8^68^2>>Y,+A<;T_C:V)Q-
M9*M*JG;'&@VSL?+S3.?NEGE;;RRN2[L22?@!J,/?IL+C\_1[O*&+VC.)S1%,
M@]\9@*3..R5'LTA\*,E%1`J+6SM4B`C`SRP@FX("<-,J>Y>XO8F3S37&[2KW
MZ[UK,8>-_P"P,C#\+QMH]KJ?@_!&U8%2RGJZ@Z?Q?4^+L8C+UQ8JSC8(TLU>
M9=^U9K2:)BGB)VC@$$%HY%>)W1J.4C'2,/(OXB78/8J6BGCB/E(N1;*LI".D
M&:ID'C%\S7*19JZ:KD,DN@J4ITSE$I@X$!'\8B(?`?T?9\?,?S<ZLN;]-A4=
MGV.=Y.Q<S916:(IGWGK,!191^2X]FD!48R56-W$&UG:(D!*!GEQ`CA,I(:95
M]R%D]BJV$E&R,-(OX>88/(J7BGKF-E(R1;*LY".D62QF[MB^:+%(LV=-5RG2
M705*!DS@("''`CJ#+X>QB;'MR@O"Y)@G4:651KY^>V0;`=//:2""RLI/A?KG
MH;*=#Y0T[@:Q0G+OC<FB%8;D*D;5AY$5J$,HL5RQ*$AT+PO'(WXO+KQ^;K__
M`'C^/3GXA_#^]S_#\]/Y//G]/(>GG]O0>->Y;?-OF0MR606="H+$G)02>V6Q
MO4U!@ZA!F6\%68EU2"0ZAC"!T8V+0,#Z8>`#9J":*;QXTC889)Y8X88WDED8
M*B(-LQ/P`/[-DDG0'DD`$\J=*E;R5NO0H5Y;=RW*L->O"I>261SI54#\ODLQ
M(5%#.[*BLP;?-ON0-R6065!H3,"CW4GMCLCU)<8*HP8JBFK+S"R)>3&4,!T(
MN+3.1Y,OB@T;"FD1V[:6M-OFWS'^V['S"@T)B/!>X[L-B>)HC.VR<,F!7,S-
M.4BE`ZANJ3%DGPSB6(),&"::"8B=M\V^8^VW8_8T*@L.Z`>$[L5A=II#.6V=
M\`B3F;FG"90[RJ@%\-FR2$K&*9@FR8))HD,*GN>ML8'`Q8J(2RA9+TBZDD\%
M85(&XHCH>/'[R30,A'^B`.>U_3/TTJ=%5!>O"*WU';B`LV0`\5"-P"U*D2/`
M^!8L#36&':.V%54M?Y.0IRF(<H&(8!*8I@`Q3%,`@8IBB`@("`B`@("`@(@(
M"`B&O]::L?-K\K_=H)V?1Z:>:SK@F%.I4CG<RF0<?1;<ZAZJ=0QEWMJJS-`A
MC&K`B)W$Y!H$YKH]^2CDS0QG+>)AG`0,`"40,`@!@$!Y`2F`!`0$!$!*8!Y*
M8!X$!`0Y#5Y<Y"G*8AR@8A@$IBF`#%,4P"!BF*("`@("("`@("`B`@("(:K_
M`/:"]GT:FFG,[X,AC&J!S.)3(./XM`3&JACB*SVU59DD43*5HYS*.9R$;E,I
M`*'/(QJ0P@NF\5KWJ3IOM]S(8^/[?+V:R#\'P6FB4>.SY:1!KL_&H[.X+Y:]
M6?2;Z;ZGJGI:L?I_NGR^(@3_`!?^M)?H1K_YCY>U50'V?,\(]GW$BAH_1^;T
M]?Y_'3[^?S?H\O/Y_HUP'='J`@/0#`(=>0$.@@(<]X!`>2B`B!@$!#D.NN0\
M@]/OY^?GSY<_GX^&J#_?X_O_`'_MYYLX#R\^?B/7U_>^/3R\]9Z;)=DECW16
M3\(+"#^NX8KK\J-AL:13-W]G?MQ*=:IU%=1,2"Z`O=+.S9"J(0"*@(I%6F%D
MD&[9+LDLNZ&QA8K![_7L+UV1*A8K"D!D'MH?-C$4<5*J*F``][,42IS<X4IV
M\`BIX20+S"B3=&T+5*I7*-7(6H5"&85ZLUV/0BX6%BT"MF,>Q;%[J2""1>1Z
MCRHLJH8Z[A<ZCAPJJX545/<>G.G#>*7KR%::G<41V#:(/R?S$`/R?F0^%^W9
M.]O2KTJ?J)X>H>H87CP,;!Z=-P4?,.A\,WPRXY6&G<:-H@QQD1AWYQ5*I6Z-
M6X6H5"&85ZLUY@A%PT-&(%;LH]BV+W4T44PY$1$1,HLLJ91=RNHJY<JK.%E5
M3]ATTULX`*`J@*J@!5````&@`!X``\`#P!SU_'&D2)%$B1QQHL<<<:A$C1`%
M1$10%5%4!550`H````XTTTU]YSXTTTTXXTTTTXXTTTTXXTTTTXXTTTTXXTTT
MTXXTTTTXYBONMVIT7=+1#P,Z1.'N,,DY<4:\-VQ59&O22I`$S=R4.X>1KLD<
MB:<S#**`1<A2/&9VTFV:NDZN]NV]9@IF7PP5*4N3<Y*=22,="PD4F9VC94G9
ME`834`],5%![7GB*2COZ85,W;1S9N\^F!CEH]^DWN8:^*O6Z\ZG6%H<P<2XL
MD4P?Q49/K1[168CXR45;+24>RDCI&>-6<@LR:*/&R*Q$7!VR1E2&$@:KN8Z<
MJY:2.?N^GG5D$LB*#[T((VK#8'NJOB.0[T/M8,H7LU5UYZ58CK6U5R*S'%9*
M.6%+UN")7-^BI"O'*A*K]7%&.VK:8,54"&9)8EB$.$6R79+6]L-;+8+`#"Q9
MEL3`J5CL:1/&90#)82+&JE4,L0%$HU(Y4_I63$J;NP/$@65*A'HLF*&>^FFI
MJK5@I01UJT8CBC&E4?)/YLQ^6=CY9CLDG9YL#"X7&]/XVMB<362K2JIVQQKY
M9V/EYIG/W2SRMMY97)9V)).M`----9')7C3333CCS\]1A;]-A4=GR.>Y0Q<R
M9Q6:8IF4SQF4R3*/R5'LDN$XN34-W$&UH;(D!&!G5Q(FX*5.&F5?<19O8J3W
M3S\]8EVE7R%=ZUE`\;CY\!T8?ADC8@]KJ?@Z((VK!E+*87J#I_%]3XNQB,O7
M6Q5G&P1H35YE!$=FM)HF*Q$22C@$$%HW5XG=&IS8/VTY4SQE$^*JS`O8F6B'
MBB%YD9Y@[:,L?-&KDS60<V=(Y$EV[U!9)=LR@^4I&6?IBU:@FB1T\:VI=OFW
MO'NVZ@,J%06`E)WBO;!87I4CSMKG#)%2<3,TZ3(4%%3%*"+)FD!&44R*FQ8I
M$1(8RGK<?78")D)J6BX6*CI2R.FSVP2+&/:-7TX\9LTH]HZEW:"2:\BX:L$4
M6;=9VHLHBU3(BF8J8=W7V=16%Z?K8COD[OJ++EE]]E[>R+?VI&NV[2P`,C`[
M9O`TH`Y2^@/3#%=#?46O=&3R\[RQKD985C->D7/MUZT7<_LM(@1K<@8M+)]@
M(A55+3335@YL[C3333CC7!BE.42F`#%,`@("`"`@(<"`@/("`@(@("`@("("
M`@.N=-..5_NT$[/I6GGF\Z8)A#*5$XN)7(&/HMN)U*J<YCK/K35F2!1,>LF$
M3+S<&V3,>`.*LHP(,(+MO%XM[)=DEDW0V-*QV`CZOX4@'X)V&QI=YL]M+M`2
MG5JM/7$@E4<'Y*G-SR0G;02"@IHF7F%$&Z5J,Y"G*8AR@8A@$IBF`#%,4P"!
MBF*("`@("("`@("`B`@("(:^5`5^"JL0QK]9AHNO048F=&.AH5@UC(MBD=51
M<Z;1BS21;-R'7556.5)(@&54.H("8YA&K3=*4)LDMW\$!)DEIJNHWF!!!!!^
MR)O+21@>6\*P5BJZ9O\`HITS=ZKBSWF'%L7LW<#$@6M8OAT:-HW5A[%*7[WL
MU44`NH6%XXI61/RU.IUNBUN&J%0A8^NUFO,$(R%A8IN1JPCV3<!!-%%(GF(F
M,=5990QUW*ZBKERJJX545/V'335H`"@*H"JH`50```!H``>``/``\`<W''&D
M2)%$B1Q1HL<<<:A$C1`%1$10%5%4!550`H````XTTTU]YSXTTTTXXTTTTXXT
MTTTXXTU1-RY[6-NLPYE3(^);/LLPD2Q8RO%FHDX57*&3&2@RE7EW<0\.+->M
MF6;>(JU%4$%1,=,BA2F,8?K#.7LY[8FQ[ENR8W(=HM8\7TFH7#`4=N&,XQQ%
MVB?DJL^F<15-G::M'/I]Y'I3;4EJ0EX5-X=!BHHT!Z)V9%1`H:NN3]/NJL33
MJW[M")*MVQ5JUI8[M.<2S71NL`L4SLJRC6G8!!L=Q!(Y!U>H\1=FFKU[/=-7
MCEEFC:.1&1(1N38=5V5_,#9\'D\^FJ`ZOMB.Y!)%54VRW!_**"JQR?C9R.`_
MK*)E3EZUGS^J(!_+J7SM1>W>SEV>5`V)6%CMUQ=>K)NJP`KEF\Q,O?+A$1U&
ML;6+QP\=UVNO(V'=N)J,2=79ZV+(2:;9TH2.;J^"`KJ%+DV/3+K&K=QV/GQT
M*6\JUI:,0R%!O=-.#ZBQMEL%8PD7W;D*AB0J[8@<ZXNJ,)/7LVH[?=!4$9L2
M>U*!'[KJB`@ILEF8#0!_7XY9\TU5M[&SM_<O=IQNPGMN]YV[XVQ9"P^%;EE)
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M9T^RM]H3V[=I3DU?`<MC>Q[=,].XE]-TRG6.T1EXK&26$(P/(6-K3;C'1->7
M_"6"8(.IEW6)RO1CMW`-W4I#.Y8L9,(QW9EO3;K/"TYLA>P[BG70R3S06J=K
MV8QKNDDBKV))A&H/<\@C*(H9G955B.%+JG!7["5:UY&GE($<;QRQ^XQ^%5G1
M4+GX"=W<3\`^.6"M-5)>U;]HTS/V>6]O(VU:G;:,79(K])K.,YYI;;-D"Z0,
MR_5O5,C[0[;N(R&A'L>BFP7>F:-CI.#G71(554"G,8@1S?W\.W']>=EV#^GG
M_79R.''YZR/GTX\N>O'.LG'^EW6F3I5,A2QD4M6[7AM5I#D*,9>&=%DC8I)8
M5T+*P/:P#`G1`/.NSU9@:=B6K8N^W/!(T4J>U,>UT/:P[E0J=']#_P`1N_GI
MJD_LU]J<SWN<W9[;=NDYM,P_5H;..:\?8LEK+$Y-ODE)P+"YS[:'<RT='OJ^
M@S>O&*:XK(-G2R;=8Y0(HH0HB8/4^TK]I;S?L8WO9XVIU3:]BB_0&(Y:HQT=
M;K#D6[PLS,DLN.ZA=5E'L7%03M@T.V<V1=BD5NY5*HW:I+'$JJAR%ZCZ9]8K
ME$PQQL0R$E!\DL7U]'M-..Q'5>0RB?VP1-*B]A8.0>X*5!/.8ZIP9J&]]9_-
MA.M8R>U-_3/&\BIV]G=Y1&.]:&O)^-W#=-53<,^T*YBR?V66[[M`G^W#&45;
M]MF:,:8O@\=,[[<'-:L["\O<9-'<M+3J\,G+QSM@6^.SMFS)FN@L,>V*J<@+
M*B6/C%WM<&X>_P"3\;4)WL[PI'-+QD2B4IU(-LJ9#7<L&MMMT-7'+YN@M7$T
M5G#-"34<HI*G(DJJD0BA@(8PZ5_3/K"U^T3#CHF_95J2G>W>I+[5B*O!:D0=
MTX]P+#9B;OC[E)8J"64@?7ZHPD9J![G:;L4<]8>U,?<CED>)&\(0NY$9=-HC
M6R`//+W.FO\`)#=X!'CCZQR_^R<Q0'[^.=19]L'V@5P[-39^ON4I&.JUE"<2
MRECR@%J]KGI>NQ(L[HYE474B,C",WSX'+$L<46Z`(>"L*IO%.4"AS3L?0M92
M]5QU*,2V[L\=>O&72,/+*P5%+N51`6('<S!1^9')JQ/%5@EL3-V10HTDC:)[
M44;)T`2=#]!R4[35`K^_A^X__478.#IUYRUD?_\`6?X_ESJ5#L>?:"\P=I=O
M`_4UW?;GC/%\'^*:^9%&T52^6^Q2OOM1D:DR;1@1TY#,&7NKPEC747<>/XR1
MFJ0)D,"A^+IDO3#K/$T+62O8R**G3A>Q8E%^C(4B0;9@D=AG<@?"JI8_D#R#
MJ]5X*[8AJUKGN3SL$B3VI1W,1L#N*!1^?R0/!Y:ETU1DSW[63N#Q!G7->)([
M:!AB9CL69@R?C5A,O\I9!:/)9C0KU/U-I)O&K:N*MFSN0;0Z;QPW0441166.
MDB8Z92F&P9M>[36\Y\[(*W]I/+XLJ=>NU;P]N7R6AC"-LDX_JKI[@J0R`RBH
MM6Q/&",VDUL!*:V4D7!&)EV)GJY6A%@12$^!E.@^I\-3HW\A1CAJY&S5IU)%
MN5)3)/<C>6!"D4SN@:-&)9U54UIB"0.9%7J'$W9[%:M:]R:K%--.GMR+V1P,
MJ2MME`/:SJ-`DD_&^3'Z:H?8S]K_`,N3&0\?1>2=I&(JUCN6NE1C;[9(/)M_
MD)FNTR3G8YG:)^)CW=;*UD'\'"N7LJV8N#D2>*,P;'.0%>^6=#MO>V#R!V5<
M%MDFL;8>HF94L]R&4FSX]MM]@K;>&:4..HK^,=Q2U<CI()`LN2W*BL+@4B(I
MMFYD!/XRG<[;?IYU91RF,P]G')'?S"V6Q\?UE1HY_HXC-8!F68Q1M'%IBLCJ
MQ#+V@E@#PAZDPUBI;NQ6PU:E[?U+^W(#%[K=J$J5#$,?&U!&P?/@\GQTU7K[
M#SMF\E]JY8=QT-D#"-$Q$EA&&Q9)Q:]-MUFLZD\ID!_>F;Q*0)8(N.*S)'%J
M3<[8S45C+F>+`L!`23$WGO;8]NOD?LL\[XAPQC[`U"RV;(.(WF4)J5N-ULM9
M6B0/=I6I1,<P:5^+D`<)N"P4F[<.'9DQ[_@IMRG`BPAAKT7U$_44G2JTD.;C
M02/5^IK!`AK)<!^H,OL?T$B-_2?)[/Q>.=YSF,&-7+?4?S!R56?LD&R)6A/V
M%0_B16'X?RV/'+*VFJ!A?;#=QYCE*.R_!P=XP%Y_&SD@>.1X_P!+/IJY-V>N
MZAWO9V6[>=U$A78JI2>9<?M[/,UF#E'4U$0$\WE96"G89C)O4&SQVC'2\.\;
M=]V@DY(8ADER`JF81[.H>ANI>EJL%S-44JU[,_TT4B6JUCNF,;RA"()9"NTC
M<@D`?:1O>M\<;GL7EY)(J%D3O$@D=>R1"$)"AOO5=C9`.MZ/SS,W35*3>=[4
MQGG;!NWW([<H/:=A^U0F#\T7K%\79Y?)E\CI6=CZE,*1C>6D(YA7UV3)X\(G
MXR[9JNJW2.;N)J&`.\,SM:[7)_=^Q<G^U'J>.JD]O-4Q59++8L0JV:7&N161
M*5>/P'LU2=6!%C].(L"N4QE8YTHP!\O%O8U=1$"N.^/*[T'U/CZN*N6J")7S
M5FG4Q\BVJL@DGR">Y41Q'*QA]U-GNE"JI!#%3XY\KY_%6IK=>"T'FI1R2V(^
MQU9(X2!(P[E'<%)`/;OY'Z\F^TU3E[.CVF7..]C>W@':K9]K>)Z-`9AM,_7Y
M.VP&1KQ,S$*C#T2W6U)RQC)2!:,':BSBN(,SIN7"92H.552"*B9"C8,[2/M*
M<!=F3@A+,F:SRL[,V616K>+<654S(USR9;4F0OUXZ*%^JBQB(*&:"F_M=ME#
M?1=>8+-BBE(3$E#0TIC9/HWJ+$Y:E@[>/8Y3(1QRTZE:6&U),DDDL2D&O)(B
M_?#+W=[+V(AD<JFVYV5<WC+E.:_!:0U*[,LTSAHUC*JK'?>`?AUUH'9.ALZW
M(=IK7B7OVO7?/*6-\YQOMTVMTVIBNI]&0MK;Y3R#8$&YE3BB63LK"\T%@\<`
MD*9%/<JO'(^(4YDB]TP`61;L\O:NZUF')=6Q#OFQ%5<*J767C*]!YQQ?+SCO
M&D7.2JR+".0R#4;4O)V"G03Z0620/;8VRV6+ACN$5I]C&0Z;R::6&]Z3=<4*
M3WI,7',D49EEAJVZ]BU&B@,Q]F-RTI4'96`RL?ZH;D77ZSZ?LV%KI<*,[!$D
MEB>*%V8@*!(PT-D@`N%'ZD<N2Z:C4[6;?/:NSKV57K=)2Z#7LE3U2MF-*ZWJ
M=HFI2OP[M"]7:*JSMRO)PS1Z^24CV\@=VV(D@=-=9,B:ABIF$VJU.V'VK;/^
M>MR>WS!LMM&PW7XK,N;<68KDYZ.R??WLA"1^0+M"U5W+L&3RNHM7CR.0E#NV
MS9RLDW<+)$264(F8QPA,-T1U)G\98S&+I1ST*KSQSS-;JPE'K0QSS`1S2I(W
M;'*C`JI#$Z79!')&[GL7CK45*W8]JS.$:*/VY&[A(_MK]RJ5&WV/)&M>>7@=
M-83=HONP>['=E&X/=5&UV'MLMAZFH3D+5YZ3>P\18)V4LD'5X.'?24<@Y?-$
MG\G.-D?%:H*K=\2E*7@1,%.4WMAVXXIC`&R_!X@!A`!_&SD?J`#P'_BUP'3[
M0^S7WI[H;J7JFK-<PM%+5>O.:TKM:JP=LPCCE*!9Y8V;22QDE01]VM[!Y\R6
M?Q6(DCBOV1#)+&947VY')0-V=W[M6T.X'6_G1UO7+^>FJVW8E=NC?>U.S-FC
M#^1,%4C$C['&,(/)5??TNXV6T%FFBUN2JD^SDTK!%1Y68LE96!<,5&AU16!=
MZ1<I?"2$??\`MO>UAR%V5&/<!W.@8AI>7'.7[[<*C),KE:+!6$(5M6JHVL*#
MUBM`1T@J[7=+KBV52<$3332*!R&$XCW>B3H_/P]0Q=+24U7-3=GMUOJ:Y1@]
M<VE/U`E]@`PJS'<@T05/W>.=R9C'R8YLJD^Z**6:;L?[0K!#M.WO\$C8UO7)
MRM-5(NRF]HVS1VA>]W&6U6X[:,6XXK][KV2YIY;JQD&YSTS'JT6C2ML:(-HR
M8@V4>NG(.(\C-R95P0Z"*IE4@.H0"&MNZP\_T[ENF;J8[,5TK6WKI:6-)X;`
M,,CRQHW?`\B`EX9!VENX``D:8$]N.R5/*US9HR^]")&B+]K+]Z!69=,`?`=?
M.M>?'-3SV^./#8U[7C>Y#]P`0L.0ZMDAJ8C8S9,Z62\6T.XN#%`2@"HA*2<D
M59R03$<.BK*B/?\`$`N?.P/-:4/[.'VQ..!?`Q>065<9G:'+]51RAGM3$%*&
M/#O"`&]\)39IN8A>3@BHH/='ZHC]'VL_%BE.[1C&^1446Y&&7=L-+64703[B
MKB>QS<;I4Y3WL>>5ETH=[5DR+<#_`$-X*(<^"/$5NV_+Z%;[,'M/<0.SAW\B
MY$[/N;AR"82]UW7\JY,4F!*'>`#@I&QK(5"=PP]QN4PB`)B!O5M11GO3[HR7
M7N&&YT8SZ/R]'+XVE98_(^%L%M^0.X?EKFG9"V/ZJSR;(]VMF0A8=H`GIRR0
M;[2-_?V(K>68D'0))$=],JLA?;M4J/$-S/):[V^MTZ,:%*83.I"V3["OLVY0
M(('$5W$DFD/=$#<'$"\CJWW[7S#L*Y>^SUKL4W3:QE?P_FV!CVJ!!*BW90\_
MB.-:MT2?]XBDBV(FD7S`@%`.>-5U.ROQ^3*':3[%*4NW=N6DENGPY(2"+,"B
MO]&5&VLKM)J<CQW$4&%:77=*!R*;5-=0`,8`*-D#VQ?@<L[$!`.AL;;@3\>?
M4UOQ48?A\1Z_`1UV9^WW^IW0='>A!C\_:(^?\:I20@G\CXIG7CQMA^?.G&0]
MO1_4-@@@RV:$8)/Y131D@#?@@R_=K>_&]:\X>>R:=.TYNP<^>T/+'/K_`&P\
M-CY_;Y<?/TXYQ(]HX_+([O\`X?UC?_EXQ;P'7IY_#X=.H:RW]DS_`"G%V]/V
M(>6/O_KAX:$/LZ<CZ<C\0UB1[1Q^63W?^O(X,`0^W;QBS[N?4/3GC6+4_P#+
M/D_G_,N+7P-D7\</R\?K_L^><I_\PJ?C?_7S_H-_N)_/Z?\`+G\-HVS/;]F+
ML;>TXW576HO76>=LN0,/#B.\L+'8(\T+$SRE+;6"NR->;R`5B<B)HE@D%')Y
M2&<RK5P5LK%R;`$!*IASV7EOFZ'VD>Q2QUOQ1E&F['!\41)#GQ'4?9[Y%U&<
M9B!0$13?5^>E&:Q0ZBBL?@0$`$/&J=G[<O2=M^6L%TBY7B!VT9?N51D,QUV'
M@T"TZWW&O((O*G'6>W!!*O4%TT(QJ^;U-.R,&<S]&MW[R(D09)JIS&>SC;;M
MLN:]_N'[?F#<;$4S*&([8KD?$&W9U3II.5S):Z?#O9:)>1^2'X_@8@2HNR'M
MKJE-2.;I,$@0<L"-HUI(NDI_+--AL)UO>RMB6_2M-=EI585M7&J5),14J_2.
MBQM],CVDFFE[0*L*3&Q+(@>0KAT5COY#IRO1A6I/!%`+$T@BKBQ+';>3WD;N
M'NDQLB(?Z21@$4$A0;</:0=@3LUWJ96S!O$RO>=Q,-DR1QTT*M#42ZT>(I1!
MQA0EHFO"E&3.-K#+@#E"):'EBGG#@Z4%86PLBJ%\/6!H&%5-N8W05D6YS``\
M``J))G,!>>?J\F-W0'D0Z=1ZZW7V8PXQ%DX.>>,=7CKY\_U*2_41]1'S$?76
ME!9\>`SY'_P=F'H'3P$NG7IS\.?,0#CX:H7H;ELED:.:JW;L]J#&#$5\?#*P
M9*D/9<4QPKH=J%8D!&_A%_3?+#ZC4JM>6A/!7CCFM/:>Q(BZ:9^Z`AG._)!)
M.]C_`&<V#/9#]@%LS>XA[/WM#%+WN*+FM.J84W,#`$NM%#&QK\DV9VHD<$&.
M-1GBU7W\")&C@LXR)FH"0)<IS"<M83VA3C^]B]ZOETLV+1\O]@7%?GZ#UX\_
ML`.1'6Q#['K\ECL#_N3<,?\`4]EK7?>T*?EB=ZGQ&S8L#RY\\"XL_GY<AUXY
MU&>FN8R66]1^H#D[L]WZ/&9:K5]]N_V*Z9V@5AC\#2#\AYYE]6TJE/I7&BK7
MC@$UNC+*(UUWR&A9[F;6]L=G^T_V\R@VE<_WVN[5+GI^RWV]_P#3&W;^?Z-0
M6;;0_9&;?AZ_N]86^S]U&ICYCSU^(>G/3CTG3VE?V-=VJ7]UQM[\O_3&W8?L
MX^SIJ"S;=_CC-OO'E^/G"X>?^RC4^>OJ(^O/IQZ<:V?@_P`/J!_VBO\`G_Z#
MAN5/('][TI_JJA\^/_6-O]?U_+_ES=,)?M1_W1;_`)4^JV7M5_Y*MZ/PW(8)
M'_WZS?,/X=634OVH_P"Z+?\`*GU6R]JP'CLJWG]TC@C_`)]9NOW?+S\M>3>@
MO\\NFO\`7%#_`,0G]Q_'FZL]_D;)_P#R<W_X'FOSV,80J6Y;>7M:V^7YY/1U
M)S5G;'.,[6_JSQG'61I7[;.H1<DX@GTA'2S!G*I(*',S<O(N0;I*\'69N"\I
MCLG.S_[!79SV<>?0W&X,OFX*QWC\!;+CT8W)=SH\[6?H6W/H!W).?<*]CFKR
M'TDBK7V16:_TI[NF11R"S5<QTS):O3&.3+SA?(E(RYC*R.*=D/&MHA[I2;6S
M0CG+FN6>`=$>Q$PW;S#.1BEUF+HA52)2+%XR.(=U=LLF;NC>5]F>[27>QO;W
M&;DZ9NBW%6+,]9I6$ZA9ZO#S,/CZ-1AYU_D<D.\DT5*=4Z\[556COZ#,1VNX
M;E((&*B57@X>A?5_']32XR?(X[+1U<%6QPARN.,LJR7&FLI&"L2UY(W`66,,
M7FC("MH>!O5_0EG%"RE:Q2:7(O9]RM:]I2L`6,>#(7#*?DZ[3^?*9V]O_'H[
MO^O_`)56XL>OUNOXYKJ''I^GKT#R'IJ]%V<']BLY4]>-JG:&_8/$]G,?7\W[
MWH.J+N]O_'H[OOB&ZK<9SQT`"_CENWYN>>?/S\_/C5Z/LX?[%9RITX_8I]H;
MZ<?Y>YS_`)]>H^>OOJ23_@GT7_VAZ;^3_P#`6R-_KX\_IY)&M'G7TK_ESJ'_
M`%9E_P#Q4']_X?P^.:[L"D,D!#AWDU$@34+SYIJ)]Q0O'F'>()BCQU`!#CC5
MC#M5]TR^[CLG.Q<O\S)#)WFCI;G\&Y&65$AG)[?AJ-PO3`D7RB2"!#.['5VE
M8M:PE3Y`9X"F.N<HKJ5T4RF,5,I2F,;PR<`4HB8W!.1X`.1$0`!$>.O`<^@\
M>AN<EV-YBB'PXX6(K4(#)-DRG#H&$14966W5&JTRQ'2[H<>#*1=+K1EPY$WC
MQJ1B@4#J";9F5Q"7[_3^0`7ZC"9&>R&V`Q@MXZW2GB4G\F>Q!*?DDP`#].52
MA?\`I:N5J,6]O(5%BT/($T5B"=&\#Y*JZE@=`/Y\]I%Q/V-__%SO]$?+\$]M
MOY@F\T?/G]`!\//D8R/:A\@&N7:TY#KPOE':.*L+X,H":)A_6HY=[6Y#)#UJ
MAZ"4ZF0$7*QNIO&7.41'PRAJ3;V.(/ZM]_W`\&&I;;@`?B(S6:.!YYX'J(`'
M[_`:KS=LWD9SE7M5M]EG=/49`K/</:*&P<-U?%0^B,6-(K&48DDK^U$J+6I%
M34`H]PK@%@()B\&-K'#5?>]:NJ[3`]M/"4M$;VLD]+"QJ?@_,0F_,$_EL;Y;
M;\_M^G^'A\;GO3;W_H16KKDCS\ANS>_';W?P!C^M-`F*E5\7VV2.A[AE:M6*
MU5U-,#>*G%UK(-IQNZ.Y$P]T3+3E0EC(]P>`0(3O\&$=;)SV6W)BU][)NDUE
M;P@'#>:,WXS2[ATQ4,T=V=#)[(ZQ"")DS>#D@R)`5`#G30*H')#%$:2_:$8A
M#&^ROL:)\\%]%.[_`+.<OSK]X`"`2JTSN6MV16#E502E,9R:'R8Q=F`>?#;.
MVJ)3B1,IALO>QV9*%_AO>UAY0"E"IY4Q7DYF;O\`UED\B4F:J+X@)B<>`;KX
MN9J"<I``PO``YQ.``'#U1D_;GIW/D0`RX_/2.C`#Q'6RUW"H=@D>5D`.MDG9
M(UY'9TA'^S.J$IDA39QB[!)_%)6AN,GD;)[D)&P/"'7CP:H7:X\?WJ'V@7Q_
M5;YJ\^H=;4Y#UZ>G3I_&,CG9J;HQ<]COVSNS&:?KJJ1F%V&Y+';`_!DD8Z3L
ME+QUE<J1NX!DRI2;;&LB=(%#$,I+O%P3((*&/')VN`?X*'V@7`=?U6^:?/CK
M_54YZ_,/F/3XAP.L.,<Y1MF*S9!3K3DS=ODW%-WP[;V:IE4D92F7YK'C)-5R
M%[HG%K(Q4'/1Y3\I!(Q#%8_)"];R,2N9Z1P-8A?=KUNF\A79M#LFQ[T;GVG6
MP9(XI(2=_AD;>@3ROID!C<_?G8M[<C7ZTP4!B([$<D6]>/PLRO\`.QV[&P"#
M)WV!WY879!Y?ND7?RZCUPOE'R'@.@#YC\/CT'4F?M=-^EIG?G@+'BCA88"A[
M5(B>CF1E#F;HS60\G7L)U\FD;ZA%GC&DUMJJ<@`8R<:@4P\)E`(RNP+,)NV#
MV/&$`Y-D:[&'CXFPME`=9[>UF#_@F=`_N/\`%'GY?NC9E_GQ^_UU6KZ*_K'A
M"RAFCZ0G="1^%OJ[\>Q\Z/8[J?'PQW^@DJSLO0=\*Q'?F8T;\MJ8J[:/C]5!
M/C\OCGPO9M]J>WK=#>-^C3<#B&AY=CJ7M416J;2]P+6>)5YFSS%F:OK%72/"
M*$A[&FTA6J3&Q,?`FXD2B:)?,SK.#*5G4RBLT3(81[R[),AC=[D1,NU*4QQ'
MCJ81,)C&Z"(B(\CJX/[(A#)6+,V_2O.%E&R$_MXQQ"+.$03,LW1EKE=8]1=(
MJ@&3,JB1P90A5`,0QR@4X=T1#6>*7L>FU](B)`WC[B#>"FDF`C4,0?6!(A2`
M(A]#^H%Y]>.=8ECKK#]+=;]75\]>MQP3Q=/''PI#9LQ((\?(UHI'&K+#WM-$
MS:">XWW>>WF5'TY<S.`P4V-BK"2(W3/([K"[EIHQ$2Q7;]O8WSO7@>=ZYV_M
M6LAOLL>S#81R-*K.G,O;\3;!9>9=OG"SIX]F%)?'3>5>NG3DQUW"[Q^W<.55
MUSF56.J*JAS&,81I5=G+^4&V+_W8.VSKTZ_UX:C]_P"?K_!>L[='`$+M7]GW
M;[;ZY89:UP6$`VF8SB++.MX]I,SC"HY*JD2VE)-O%))1R#YXF@"KA-DD1L10
MP@D4">=%3LYAY[0;8OP''[,';;Y<=0_'!40Z\!TZ=1_BZ:Q_326"7HCJZ6J/
MYM+E^HI(-@KJ!Z%9HO#:8;0C:GR#H$?/.?5B2)U!@DE\R)4QJ2GNW^\6PP<[
M\;VP/G\_&AS8%>U)Y&<4?LG+O7&X$$,NYMPACAP)C$`Q6C6U.<F.A3`X]XQC
M$QT1(?#`QR$6,H(`F4Y@ULE+H$W>6&1)&'`HHXTQU*9,GN4E%/Z015FI]6="
M4Q/J(F]^N4:<%%A!,0*=,.5E42C>A]L1OYH_`^RW%I'RQ`MV9\G7]Q'$'A!P
MACV@,:ZW=+B`A]=J[R2!&Q1`0'WA<_04P'5:?LP,&RN5]N_;$V=@U%RE0.S>
MG3%$$O$53D%LRX[R<3PC]PQDS'A<(3J2@$$!414.`_5`>.'I?*,%Z<KDF*H+
MN9:0EAH$6,C2P^]D^?Z$@'P-C0^"1RZMB_:75*TR.X08\*X#:*]E:6WK]/!8
M.?U#?IS*GV6_)H4+M8J?555ETD\S8/S7C<")*J)H*2$7%0V4V/O:1>\1<A4L
M;R!$0.``DX6(<#`81`TUOMBW[A.R3UYS5E3_`+-(_KUU5*['_*+?#_:C;&;T
MZ?+1T<7<72JC)/$#]SN1>4!?XQ=%6X*83-%"W),'I.!,=J"H%'O=T0M9>V)=
M,#[(2_MA+FK*A1$//DN-(\HB'W@/Y_+73U'3]GUFZ/MA=+<Q[]Q\Z,U:'*QM
MH[_*)H`1O>_GYWSLPT_?T%FX"06KR2Z`^0DIKNO=_$L'(_+MT-D@GD#/LS/Y
M8?;QUZ_@)N%$?GSANS\>?7KY\_RZVBNM75[,S^6&V[]>?ZA-PO'Q_<;L_F'E
MSY]`Z>NMHKK7OKG_`)Y5O]0TMG]?YYD?[Z_+X_+EE]//\@R?ZPL?_JK\I)^V
M,XO,M7=C&:6K%($XVPYKQ1.R8)B"W>L$12[Q5V2BH'^NCQ4[:LDF).4U3*B4
MW"I@U21C+?(1=/N%,0,<(VXOZ7(R(`J8I3+4EU8'4=WTR@)5@`]A>=SO#^M&
M`#@/GQLB/:I<.RV3^S):62O5I]89C$&XK$UV.$3'R$I*M(2?;VC&<LJV91J#
MERND9>[1/O@`@8B3=,7!Q*"'.M;_`/BTR1Y?BYR'T]1H5P^7F'T*/S#R^T-;
M;]'KU>UT/3K6)(MX_(7(`LCH""MI+\1T6V>TV4*[`T$&@0/-*ZXJSP]03301
MR:M58&+1HS`@1B!_A=*&$6B-^2"=;)Y-E[-/1RW+M?MO,@J5,[;'E.SED)8B
MJ0*]XS#%L[4V/A\E$$UDI&YLUR+#P)/!$"CWS%#4JGMC/3+6Q$/AC?<!T]!X
MMV*OS?+J'7IUUYM[(]A:S([U=R&3[11[%$LZ5MI;5:,E;#79N&(WF<BY-KC@
MR+$\JP9IKN',/0Y$JW@G.=%L4>\7N..=>S>V!U>SV'+&QD]?K5DGB-L<Y]*Y
M/!5^9FR-CJVW%ADBN3Q3!X5N=4I#F2*L)#*%(<Q`,!3"$%=OQV/7'$)[J&.A
MB'JE^]0@+XW(W#]P.@?YV!Y(/Q_#DE7J20^GMP>TPDGMB;M"MW$?4UH@>W0/
MA8@-`:^W?,'?9-!Y[3F[=>?V(F6/7KTR'AO^`?LXY]>-8D>T<_EDMW_VX-]?
M3]3QBP>H>7V?9Y==9M>RDT^WP7:871[.5&VP;(VTG*K<KR;J\_$,S.#Y!P\9
M-`KR3C6C85SD34.FB"GBG(F<Q"&*0XEQ,]HGI%WE^V&W<R,12KE+1[@<'^[R
M$54;))L%_"V^8N15\!ZPBW#1?PEDSI*>$L<$U2'2/PH0Y2SE2:+_`*9<F_NQ
MA#T9$`Q=0N_KL=]O=O6Q^GSH;UXY&30R_P"`M1/9D[_VX[%.QNX#V)QOMUOM
M'CSK6_CSXY[=V?C)H\]GG[:_WMJW="TR%@1\U\=%-?W9ZT?XP4:O&_B%-X+I
MN?ZR+A+NJI"(B0X:B#[-Z?D:OVAVQN<B'"K5\RW>;>B)*(J'1/X4AE6MQ+Q$
M3%X'PG4<_=M'"8\D6;N%D%"F34,49I^S[I]O:>S[=M7$NZA;6LM(7?!YH^*=
M5>?;RDB5)WC$RIH^.7C4WSXJ0$.*IFB"Q4BD,93N%*8=0V;"<>Y!:;[MESMW
M0+ZU:-MW&W-PY<NJ3:V[9N@CF.G*+.'+E>'(@@BDD4RJRZRI$4DBF4.<I`,8
M)+'30E?4M6DC*/E;0"EU*LK=,XI3H$GN#:T=?)&ORUSJN13`]'LL<H9*58,R
MHX*G]I3>&('@@>=$[`/\?.W/S'^Y%D_T`,>7L``/(`"K3``'W`&M*"TY\%EP
M'7W9GQ_O*77S_F'7CUUNP,P$.IB7)R:9#J*'Q_>B$33(910YSUB8*0A$R`8Y
MSG,(%*0A1,8P@4H"(@&M+HSQMDCP&(_BYR(']#,^@T.X?Y@EQS_23C[O7D>O
M'4->^@<D<</4_N2(FY,21WLJ@@+?)ULC?Y;U\?GH'8L?J1'))^R?;1W(%O\`
M`K-K^@^>T?V?/S_MYMK>QYZ]EEL##X[3<,?]3V6M>3[1"Q78]L7O,*N00]ZF
M,1R"0F*)0]W=8#Q>9(_`_MBB!#"!PZ"(=`Z#SL0.R"9NV'9>["&4@T=L'K7:
MIAI!TR?M7#)XV73J+(JB#EH[31<MUDS?5417234(;D#E`>FJJGM.W90[A[#N
M(=]H'@JAVC+N/+W3*C7\V0-'A'UEM^-;1CV')6HJW.:Q"MW4U)T*Q5)E#H/I
MF*8O_P`%IJ$>J6`&D7+L'B->],\K1QGJ1FA=LQ5DR(S%&O+,X2-K+Y2"Q%'[
MA(16D6NXC[F`>3LC4EW56D^K:-F[TK2%:)Y'JFC9DC12S^VM62)R%'DE3*"0
M`3H$Z(!'(_MI0\^S7=JES_JN-O?H(?Y<;=?3C[^G(#\@Z!!=ML*8^X[;V0I3
M'.?/6%2D*4!,8PCE*I\$*4`$PF$1#@H!WN>`#SXUVRJ[KLZT#;-F+9O!V!".
MPAF^_P!&R'D:J/:^V4F'=LQRJU/!'8R[HI9&&:J.(N&/-QZ*9AD5(*,3.HW(
MF]1>RS]@OV5V<-XV[_#.;;'0+15]K."+_6,LW')-E@92)KMZF:'+-;+5,;41
MU((L$K=)3UEC8L;,\@UW,;5ZNC(.9)X23=PT7);SG:'I?&=993*VJT57(9&[
MDZQ$GW/'+B<?5BKA65>ZU+8JND<48?O!C*D[(77L7?F+O3U6C#*\M.I5JV`R
M=JHT-R:9Y"1O42QR@EV[=$$$;\\V@B7[4?\`=%O^5/JME[5?^2K>_P!TA@C_
M`)_90^`_SZ^FK*!0X#CISU$>/+D1$1X^7(CZZK@>U.0\O-]EH\90D1+3;T=Q
MN"U?<8:+D)=X*2;^R`HK[I&MG3GP4^\7Q%?"%,G>+WC`)B\^2^A"%ZRZ:+$`
M#,4=D^`/YPGR3\?V_E\\W7G03ALD`"2:<P``))/:?``V?/\``'^SE"WLM*Y7
M[?VDFQ2KVR!AK/6;#NIPY#S]=L46QFX*<B'UJ:(OHJ8B)-!U'2<<\1$R3MD]
M;KMW"9A(JD8H\:VUF.-O&`<-/I"8Q#@[#^*Y:9:-8R7E,;XRI-&D96.;O"NT
M&$D^J\'%.GS)%V(N4FCI55!-P(K$3*I];6J8[)V@WV/[3?8&]?T.\L&3;=KA
M1=T]>TNU,V;9NE;6AU5W3MU$)-VZ"1>3*KKJII)E`3*'*4HFUMR3?M"_[9+_
M`.,FMF>NUECFL/'#88POBG$D<<I]MB+<G](BMVD@@:[MGP#OXY4/3NN%QUMI
M8`LBVQV-)'J11[2C[68=P'Y'1YIF][73>AN^#@`_95;C.1Y_V9KMZ=`#CGIR
M'Z.FKT79P_V*SE3KS^Q3[0W_`*>SG]GZ=4C=ZF/,A.MY6[ERVQ]?'+=QNEW$
M.$'#:CVM=!=!7,ET416071ASI+HK)G*HDLF<Z:J9BG(8Q1*8UX?LZ(*=:>RV
MY1@WD'-M)Q3:SV@J!(1W#2;::47>3N<!:(IQ#AJG)*+.P52,T1(U%1T"J8H%
M4!0@FN_J1+$W2G1@$J.R]0].E@KJ2H%"UO8!.@"2-ZUOE=Z6AE7-]0,T<BAL
M;E@I9'`8M9@(`)&MG1T!\CR!X/*.W9R4RO9&W[;,,=6UDG(U/(.Y/#]#M$>L
M8Q4WM;N5JCZU/-3F(8AB@K%2KPO?(<AR&$#E.4Q0,'AF?<.V#;UG',.![6@J
MC8\,Y/O.,)<JQ2%,HYI-DD8!)[^MJ+)BG),F3:20%-94IT'B1RJG*;O#F1V6
M^/[\R[2/8*[?T.],F3;=SM]7=NWM+M31FT02R'!'67<NG$0DW;H)$*8ZRZRJ
M:*1`,=0X$*(A*'[3]M"M&->TMDLN4NES\M4]SV,:CD@ZU7JL]*,6E[J")<9W
MEDZ5BHE=JG(O$*_5+,Z+XRBZZEB4=K"!EM7>7/15NN*N)>>,09/IYYHR)`5%
MJA=D*H"&T#)6GG=M';"%-[TH$$F+FGZ<FMB&3WJ>352.Q^\P6(5!/:!M@LBI
MLD?;W$@Z)#9U>QT*IM[CV@;A4032:T[;@Y6,(<`5)O-9I74'[B)F$.H!S_YO
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M_=`V$C@B",ZOLBF34ZYOGW!8M<^*5+)^V52>9F(H84OI7%F1:VX*FJD!P((K
M15[E3)K&(91,6YDT^Z197GM/;-=F[A_!'9.]FGEG#.W6MU'-,DWP[6\[V;']
M`=IW6[3-SVVNK)+OKL>*8KRC]<ERKJ[MRXD44_`E'JPF!%=P<BD>?L]+^]8B
M[7':G)S-0OL)7[JXR=B^<=.J7:6D>JA=L5VTD2WD'3F+0;MVGX4Q=>7.X75*
MD@LW14-P4HF",R-O#=1>FO4:XBLM&LL6::.HSH&-FA;DO22(JR-OZJS&;"Z)
M),HV-DCF75K9#%]68MKLCVG?Z(23I&W:D4\*0)&Y[0!["=J.?.E0G8^.89=K
M<`&[47M`2CY#NWS4`@'/D-K<A\.?B`^G3X:_;VB.VPN$6VR')T2T.E5]U&P/
M;-F1)8J::;8M[B:+'X]R8S)W#=\[@TE78.RNE%"%$Y[842"<"F$O8>UCH-]?
M]IWOZ>L*'>'S)SNSS*X;/65+M#UHY04M+@R;AL[;1*K9PW4*(&3706.FH7@Q
M#"40$;`':L[2IS)WL_'929WK]/L4A>]M.+L(P%DCV,!*N)ECCK,>/8:MSQG\
M2BW&23",OL!CPRI%6*BC$KIT8Q4$U7*@20SL6*C].%:=!#DH8,58`D70-C$1
M/6[AW#M/UL-9>[^J&;Y)(.,,9)=;JK]S)WURMN`E&!8Q6G$@0E3O<+R>!L'0
M&QYU"'V!7Y8'8YY\_C$NO/(#YCA7*`_/C@.GG]FI!/:U8YXT[2C&+U=$Z;63
MV>8T.Q6$H@5<&63LRM77<,(`!O"6$I#\"/=$Y>0`3``X1]@S1;Q%=KMLBD)2
MD76+8-LAW,SE_)T^RQS%L0^&<G$*9R]>Q:#1N45#D3*955,IE#E(41.8H#:#
M]J"[,+-NZ^E8<W8[=*A,Y,N.!*Y9Z/DW&M78+2]WF<9SLDSLL5:J;!,T3R-E
M=TJ>1ER3=;BROIMU#6,92%CW(PT@W<0&<S%#&^KO3L]NS!%6L=-O1-B255AC
MEGM9$PAY`2J!Y42(,Q"@R*6*C9$CC<?9M]#Y*&*&5IH\F+`B[2)&6*.OWE4.
MB=*6;0WX4]NR-<BZ]DQD'$9DOM#GS)T=E)L=KM.DF#A$X$=-G+"RWI=%V@(]
MX04:N?`4(IP)4U13$0ZAS"*V[9KM5O`;'/O\W+'Y;-U#B-Y;B(_K"9SB/,1U
M$1[PF'GKR(B'EKQW:UO5W4;`IS-),%6%3&EBR_C:8PODIK9J6W>RS:"<N551
M,R8V1H@]K%M@G:SP\9)BCX\>L[<E=Q[D12*CVW8'V:FY_M%LL5_&&#Z#8$J>
ML_:,\@9HFH.6:8MQA60,FC*R\Y:56I8V0G&\>*QH&FQ3I[9;#)E;MD&*+(7T
MDPM,N#Q5'-=5=3]1)AIL5>AP[5)KT4-CZ=,?2DBLEOJ(BJ&9S&8E@>1INU1K
MN"@Q*9*[8HX;#XHWH[U=[264A#QAC--&8]]K@Z0]Q)<*$[O)`\FX[VIMMR)?
MO9@L+7O+=CFK?DF[8TV,6ZZVFR.0>3MBG[):Z-,OIF6=`DB#A_(F>%=.5?"3
M`YU!-W0ZZI:]G+^4&V,?#]6#MM_[8*C\OL_DU?\`?:%L3-\=]B+/X9Q]&3TS
M$8VD=I^/ZNQ:LGL[-J5ZBWRE5V,.X1C&JSARX3BXI!5ZNFW\,%/%5-W"=0H8
M=G=C[(#+?]L>>/*#?&K1MN[VXN'+IS2+6W;-6Z.7*DHLNY<N(=-%!NBF0QU5
MUE")(D*910Y"%,8*=Z9VJTO0_54J&.%)\MU!-##W)&5CEH56C14T-`*0JA?`
M[=`>.3?5E>=<_A%*R2&*KCDD<*S*62PP<LP!&]@D[/Y[/SR?GVP/(KJ4W:;4
M,3^_)+1]&V]6N]C'IJ]Y1G*Y,R6[A55W*8<E3,YC,9L0;\\'%,BPC]42B->S
M:3O[S/LVQQNKQ?BNO8UFZYO!Q0.',JK7N`L$U*LJ>>)N40<U.<PMKKK>(E3-
M[Q+K"\DV<VA[RWCC@S!-NLFXE1]IG>7C*/:TY::1-&N4G$8PQ;A'&\?)Q50L
M<DQ?`%./D-^JB^CXUTT<"A)9$=,3"FL/AJ,SI*%*<A@UE3[.7V=6%MT.'^T/
MF-R&WF!OMIK]=Q]4</*Y5Q\\6<5"<GJ5EJ2?SU2^GV"`MY122)6/%=,$E5T5
M(Q@(G3,*(&D\5<P_3WI5AI<O56]32GB[,U)'C[Y)+^2@MP/HLH#0SV8[+=Q!
M'MG>VT.8EVMD,GUE>2E(U:0RV8DM%'[`D%1HI%)[?N[U1H1\C3*0=#8JHX_N
M,GCB\T;(4*X%I,8^N%2N\4[`1[S>2IE@C+(Q<CW/K<I.8M)0PD`!X*/=`.@:
MO)>UX3T=:-M&PBS1#A-W%6'*>09Z-=(&\1%RPF<30\FS72,`?KB2S=VDHF;C
M@Q#%'C5',N+<F"B5JZQQD4JHMP9NN]0K?W_&%'W9R!OZ2_MP5\7O<CU-SYAJ
MVKVX=CNF=^Q[[%&\EK%EEK-*U!J2V,XNMV!^^9S\)@6O5B:-(L$(U1['+*3$
M(\*JF[;H`#D%4D^\!0U(=5Q0/UEZ=Y%)8R(;V8JRN'0Z%C&--"KD'PH%>7M)
M(`[CX^==.#,R8+JFHR2[>M!*@,;`,4F]LF/8!)8.NP!\!?`.QR.GV9D?\&'V
M\CY]VA;A1Z`(B`!ANS!U`H"/P`..>1$`#KP&MHCXI?@I_O*O_P!&M*=6Z]F^
MFR[>P4^NYEJ<^T3<)-9VK0&1JW-M4G:)FSM)O+P;%A)-TG+911NY31=)IN$#
MG17`Z1C$'TW\9&]/_3]NZ_XV[@?_`,EJ%Z^]-SUEFX<M%GZ5!(\?!2]F2`SL
M6AGL3%PZV8P%(LA0I78[-[.P!F=-=4'!8YJ,N+MV&-F6<21_NU[9%B4+VM&3
*L=A\[U\?]W__V3\_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
