1.2 INCA 2020 1 2021-08-03T16:58:09Z 2020 1 30.19 0.01 3.03 47.29 49.67 Cboe BZX Exchange BATS 54.52 3.31 6.41 53.33 58.59 88.6520 8.7124 -18632.6825 -52.4877 600.9521 3.7804 -9038.4463 -32.9999 Cboe BZX Exchange, Inc. (“Cboe BZX”) provides tiered pricing Instinet pays fees and receives rebates based upon Cboe BZX’s pricing schedule. The pricing schedule provided by Cboe BZX, including the pricing for each tier, is available to the public here. During January 2020, Instinet paid, on average, a net fee of $0.0017 per share for orders it routed to Cboe BZX. CBOE EDGX Exchange, Inc. EDGX 15.43 0.46 3.46 15.49 16.10 -0.0504 -0.0050 -5655.8979 -15.9325 1410.7558 8.8747 -6323.0310 -23.0857 Cboe EDGX Exchange, Inc. (“Cboe EDGX”) provides tiered pricing. Instinet pays fees and receives rebates based upon Cboe EDGX’s pricing schedule. The pricing schedule provided by Cboe EDGX, including the pricing for each tier, is available to the public here. During January 2020, Instinet paid, on average, a net fee of $0.0013 per share for orders it routed to Cboe EDGX. NYSE Arca ARCX 12.22 0.00 3.73 13.75 11.28 0.0000 0.0000 -7519.8202 -21.1831 8562.5117 53.8648 -4088.9436 -14.9290 NYSE ARCA, Inc. (“ARCA”) provides tiered pricing. Instinet pays fees and receives rebates based upon ARCA’s pricing schedule. The pricing schedule provided by ARCA, including the pricing for each tier, is available to the public here. During January 2020, Instinet paid, on average, a net fee of $0.0010 per share for orders it routed to ARCA. Nasdaq XNAS 12.08 94.76 6.77 14.85 9.74 934.1605 91.8060 -21615.9736 -60.8915 -431.4559 -2.7142 -13018.0261 -47.5295 The Nasdaq Stock Market (“NASDAQ”) provides tiered pricing. Instinet pays fees and receives rebates based upon NASDAQ’s pricing schedule. The pricing schedule provided by NASDAQ, including the pricing for each tier, is available to the public here. During January 2020, Instinet paid, on average, a net fee of $0.0019 per share for orders it routed to NASDAQ. Instinet CBX ICBX 0.73 0.00 6.25 0.33 0.78 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 Instinet owns and operates the Instinet CBX ATS. Instinet may direct customer orders to the CBX, and Instinet receives a commission from both sides of any transaction occurring in CBX (subject to the fee schedule in effect between Instinet and the relevant subscriber). Additional information regarding the Instinet CBX is available here. New York Stock Exch XNYS 0.52 0.46 7.76 0.24 0.34 -5.2949 -0.5204 -20772.9677 -58.5168 -3037.1113 -19.1058 -12430.1865 -45.3833 New York Stock Exchange LLC (“NYSE”) provides tiered pricing. Instinet pays fees and receives rebates based upon NYSE’s pricing schedule. The pricing schedule provided by NYSE, including the pricing for each tier, is available to the public here. During January 2020, Instinet paid, on average, a net fee of $0.0024 per share for orders it routed to NYSE. Level ATS LEVL 0.48 0.00 5.31 0.30 0.35 0.0000 0.0000 -400.3200 -1.1277 -114.5400 -0.7205 -135.3300 -0.4941 Instinet is a subscriber to the Level ATS. Instinet pays a flat fee for executions resulting from “firm” orders on the LeveL ATS; provided, however, that where in certain cases Instinet designates a firm order as only eligible to interact with certain other LeveL ATS subscribers, Instinet will not pay an execution fee. For conditional orders submitted to the LeveL ATS, fees are subject to volume-based pricing tiers set by eBX, LLC (the operator of LeveL ATS). Pricing tiers are based on the subscriber's average daily trading volume ("ADV") in the ATS during the prior calendar month, regardless of the order type or functionality used. Instinet has agreed to the following fees for conditional orders: (a) if the ADV is less than 1 million shares, a fee of $0.0015 per share; (b) if the ADV is greater than or equal to 1 million shares, a fee of $0.0010 per share; and (iii) if the ADV is greater than or equal to 3 million shares, a fee of $0.0005 per share. Virtu MatchIt KNEM 0.47 0.00 6.72 0.21 0.32 0.0000 0.0000 -106.1920 -0.2991 -25.2060 -0.1586 -55.7460 -0.2035 Instinet is a subscriber to the MatchIt ATS and pays a fee for executions occurring in the MatchIt ATS. UBS Securities LLC - UBS ATS UBSA 0.41 0.00 5.98 0.18 0.29 0.0000 0.0000 -413.9820 -1.1662 -92.7400 -0.5834 -213.2030 -0.7784 Instinet is a subscriber to the UBS ATS and pays a fee for executions occurring in the UBS ATS. Credit Suisse Securities (USA) CROS 0.36 0.00 5.27 0.16 0.25 0.0000 0.0000 -476.5330 -1.3424 -88.5860 -0.5573 -177.9460 -0.6497 Instinet is a subscriber to the CrossFinder ATS and pays a fee for executions occurring in the CrossFinder ATS. 7.17 0.00 7.66 46.57 45.77 Nasdaq XNAS 26.50 90.76 7.68 29.74 26.35 193.7607 30.0923 -87721.6901 -62.4022 -4630.5317 -7.7771 -45802.5538 -51.2154 The Nasdaq Stock Market (“NASDAQ”) provides tiered pricing. Instinet pays fees and receives rebates based upon NASDAQ’s pricing schedule. The pricing schedule provided by NASDAQ, including the pricing for each tier, is available to the public here. During January 2020, Instinet paid, on average, a net fee of $0.0019 per share for orders it routed to NASDAQ. Cboe BZX Exchange BATS 21.11 4.77 6.16 23.00 21.69 80.7952 12.5480 -57677.8429 -41.0300 12415.8241 20.8527 -19175.8230 -21.4420 Cboe BZX Exchange, Inc. (“Cboe BZX”) provides tiered pricing. Instinet pays fees and receives rebates based upon Cboe BZX’s pricing schedule. The pricing schedule provided by Cboe BZX, including the pricing for each tier, is available to the public here. During January 2020, Instinet paid, on average, a net fee of $0.0017 per share for orders it routed to Cboe BZX. NYSE Arca ARCX 18.46 0.00 4.54 19.06 20.19 0.0000 0.0000 -43339.2708 -30.8301 11096.3015 18.6366 -25344.5709 -28.3397 NYSE ARCA, Inc. (“ARCA”) provides tiered pricing. Instinet pays fees and receives rebates based upon ARCA’s pricing schedule. The pricing schedule provided by ARCA, including the pricing for each tier, is available to the public here. During January 2020, Instinet paid, on average, a net fee of $0.0010 per share for orders it routed to ARCA. CBOE EDGX Exchange, Inc. EDGX 13.79 1.04 4.12 14.51 14.67 26.0439 4.0448 -35434.0108 -25.2065 9070.0724 15.2335 -18878.8778 -21.1099 Cboe EDGX Exchange, Inc. (“Cboe EDGX”) provides tiered pricing. Instinet pays fees and receives rebates based upon Cboe EDGX’s pricing schedule. The pricing schedule provided by Cboe EDGX, including the pricing for each tier, is available to the public here. During January 2020, Instinet paid, on average, a net fee of $0.0013 per share for orders it routed to Cboe EDGX. New York Stock Exch XNYS 5.65 0.89 6.89 4.79 6.32 -26.7036 -4.1472 -69788.0067 -49.6448 -6025.4098 -10.1199 -29349.1028 -32.8175 New York Stock Exchange LLC (“NYSE”) provides tiered pricing. Instinet pays fees and receives rebates based upon NYSE’s pricing schedule. The pricing schedule provided by NYSE, including the pricing for each tier, is available to the public here. During January 2020, Instinet paid, on average, a net fee of $0.0024 per share for orders it routed to NYSE. Instinet CBX ICBX 2.12 0.00 6.45 1.69 1.84 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 Instinet owns and operates the Instinet CBX ATS. Instinet may direct customer orders to the CBX, and Instinet receives a commission from both sides of any transaction occurring in CBX (subject to the fee schedule in effect between Instinet and the relevant subscriber). Additional information regarding the Instinet CBX is available here. Level ATS LEVL 1.41 0.00 4.93 1.38 0.85 0.0000 0.0000 -1898.2200 -1.3503 -198.7200 -0.3338 -375.5700 -0.4200 Instinet is a subscriber to the Level ATS. Instinet pays a flat fee for executions resulting from “firm” orders on the LeveL ATS; provided, however, that where in certain cases Instinet designates a firm order as only eligible to interact with certain other LeveL ATS subscribers, Instinet will not pay an execution fee. For conditional orders submitted to the LeveL ATS, fees are subject to volume-based pricing tiers set by eBX, LLC (the operator of LeveL ATS). Pricing tiers are based on the subscriber's average daily trading volume ("ADV") in the ATS during the prior calendar month, regardless of the order type or functionality used. Instinet has agreed to the following fees for conditional orders: (a) if the ADV is less than 1 million shares, a fee of $0.0015 per share; (b) if the ADV is greater than or equal to 1 million shares, a fee of $0.0010 per share; and (iii) if the ADV is greater than or equal to 3 million shares, a fee of $0.0005 per share. Virtu MatchIt KCGM 1.38 0.00 7.18 0.82 0.98 0.0000 0.0000 -556.4900 -0.3959 -209.9290 -0.3526 -203.8160 -0.2279 Instinet is a subscriber to the MatchIt ATS and pays a fee for executions occurring in the MatchIt ATS. UBS Securities LLC - UBS ATS UBSA 1.22 0.00 5.98 0.75 0.90 0.0000 0.0000 -1272.8040 -0.9054 -245.9510 -0.4131 -471.0970 -0.5268 Instinet is a subscriber to the UBS ATS and pays a fee for executions occurring in the UBS ATS. Credit Suisse Securities (USA) CROS 1.09 0.00 5.31 0.65 0.83 0.0000 0.0000 -1172.1140 -0.8338 -231.5380 -0.3889 -533.6940 -0.5968 Instinet is a subscriber to the CrossFinder ATS and pays a fee for executions occurring in the CrossFinder ATS. 1.97 0.65 0.37 98.61 0.37 BOX Exchange XBOX 13.92 11.63 10.20 13.97 8.16 0.0000 0.0000 -2.1500 -10.6965 13.6800 0.0570 0.0000 0.0000 BOX Exchange LLC (“BOX”) provides tiered pricing. Instinet pays fees and receives rebates based upon BOX’s pricing schedule. The pricing schedule provided by BOX, including the pricing for each tier, is available to the public here. During January 2020, Instinet paid, on average, a net fee of $0.00 per contract for orders it routed to BOX. Nasdaq Options Market XNDQ 13.41 0.00 14.29 13.54 2.04 0.0000 0.0000 -9.4900 -47.2139 -18462.1400 -76.9689 -0.4800 -0.4593 NASDAQ Options Market (“NOM”) provides tiered pricing. Instinet pays fees and receives rebates based upon NOM’s pricing schedule. The pricing schedule provided by NOM, including the pricing for each tier, is available to the public here. During January 2020, Instinet paid, on average, a net fee of $0.53 per contract for orders it routed to NOM. Cboe BZX Options Exchange BATO 11.14 0.00 8.16 11.00 69.39 0.0000 0.0000 -6.1000 -30.3483 -19401.9500 -80.8870 243.3500 232.8708 Cboe BZX Options Exchange (“BZX Options”) provides tiered pricing. Instinet pays fees and receives rebates based upon BZX Options’ pricing schedule. The pricing schedule provided by BZX Options, including the pricing for each tier, is available to the public at here. During January 2020, Instinet paid, on average, a net fee of $0.08 per contract for orders it routed to BZX Options. NYSE ARCA Options ARCO 9.88 11.63 4.08 9.91 6.12 0.0000 0.0000 -0.9800 -4.8756 -4020.6700 -16.7622 -101.9500 -97.5598 NYSE ARCA Options (“ARCA Options”) provides tiered pricing. Instinet pays fees and receives rebates based upon ARCA Options’ pricing schedule. The pricing schedule provided by ARCA Options, including the pricing for each tier, is available to the public here. During January 2020, Instinet paid, on average, a net fee of $0.34 per contract for orders it routed to ARCA Options. Nasdaq GEMX, LLC GMNI 9.28 0.00 6.12 9.39 0.00 0.0000 0.0000 -19.8000 -98.5075 -17385.0000 -72.4783 0.0000 0.0000 Nasdaq GEMX, LLC (“GEMX”) provides tiered pricing. Instinet pays fees and receives rebates based upon GEMX’s pricing schedule. The pricing schedule provided by GEMX, including the pricing for each tier, is available to the public here. During January 2020, Instinet paid, on average, a net fee of $0.47 per contract for orders it routed to GEMX. C2 Options Exchange, Inc. C2OX 8.43 11.63 8.16 8.43 4.08 0.0000 0.0000 -5.6600 -28.1592 -13694.8700 -57.0941 -16.7700 -16.0478 Instinet pays fees and receives rebates based upon Cboe C2 Options Exchange’s (“C2”) pricing schedule. During January 2020, Instinet paid, on average, a net fee of $0.45 per contract for orders it routed to C2. MIAX Pearl, LLC MPRL 6.20 0.00 8.16 6.24 4.08 0.0000 0.0000 -4.9400 -24.5771 -7248.0600 -30.2172 -85.5000 -81.8182 MIAX PEARL, LLC (“Pearl”) provides tiered pricing. Instinet pays fees and receives rebates based upon Pearl’s pricing schedule. The pricing schedule provided by Pearl, including the pricing for each tier, is available to the public here. During January 2020, Instinet paid, on average, a net fee of $0.51 per contract for orders it routed to Pearl. Separately, in accordance with Pearl’s market maker preferencing program, Instinet has preferenced a market maker on Pearl. Instinet receives payments from the preferenced market maker in connection with transactions effected by Instinet on Pearl. Such payments are provided by the relevant market maker, and not by the Exchange. MIAX Emerald, LLC. EMLD 5.50 0.00 8.16 5.52 6.12 0.0000 0.0000 12.1800 60.5970 -5018.7700 -20.9233 10.2500 9.8086 MIAX Emerald, LLC (“Emerald”) provides tiered pricing. Instinet pays fees and receives rebates based upon Emerald’s pricing schedule. The pricing schedule provided by Emerald, including the pricing for each tier, is available to the public here. During January 2020, Instinet paid, on average, a net fee of $0.40 per contract for orders it routed to Emerald. Separately, in accordance with Emerald’s market maker preferencing program, Instinet has preferenced a market maker on Emerald. Instinet receives payments from the preferenced market maker in connection with transactions effected by Instinet on Emerald. Such payments are provided by the relevant market maker, and not by the Exchange. CBOE Exchange XCBO 4.33 11.63 6.12 4.30 0.00 -0.1250 -1.4205 -6.7725 -33.6940 -5762.1025 -24.0223 0.0000 0.0000 Cboe Exchange, Inc. (“Cboe”) provides tiered pricing. Instinet pays fees and receives rebates based upon Cboe’s pricing schedule. The pricing schedule provided by Cboe, including the pricing for each tier, is available to the public here. During January 2020, Instinet paid, on average, a net fee of $0.25 per contract for orders it routed to Cboe. Separately, in accordance with Cboe’s market maker preferencing program, Instinet has preferenced a market maker on Cboe. Instinet receives payments from the preferenced market maker in connection with transactions effected by Instinet on Cboe. Such payments are provided by the relevant market maker, and not by the Exchange. Nasdaq ISE XISX 3.41 11.63 4.08 3.37 0.00 8.5000 96.5909 0.0000 0.0000 -3369.0000 -14.0454 0.0000 0.0000 Nasdaq ISE, LLC (“ISE”) provides tiered pricing. Instinet pays fees and receives rebates based upon ISE’s pricing schedule. The pricing schedule provided by ISE, including the pricing for each tier, is available to the public here. During January 2020, Instinet paid, on average, a net fee of $0.50 per contract for orders it routed to ISE. Separately, in accordance with ISE’s market maker preferencing program, Instinet has preferenced a market maker on ISE. Instinet receives payments from the preferenced market maker in connection with transactions effected by Instinet on ISE. Such payments are provided by the relevant market maker, and not by the Exchange. 2020 2 37.90 0.01 3.39 50.13 46.47 Cboe BZX Exchange BATS 67.17 2.83 7.40 72.57 65.71 112.5424 14.3787 -19064.7235 -51.6409 620.9384 3.2722 -6589.9171 -26.9419 Cboe BZX Exchange, Inc. (“Cboe BZX”) provides tiered pricing. Instinet pays fees and receives rebates based upon Cboe BZX’s pricing schedule. The pricing schedule provided by Cboe BZX, including the pricing for each tier, is available to the public here. During February 2020, Instinet paid, on average, a net fee of $0.0017 per share for orders it routed to Cboe BZX. Nasdaq XNAS 10.66 95.95 8.03 12.81 8.51 778.2319 99.4289 -23946.3748 -64.8639 -571.5885 -3.0122 -7245.3176 -29.6214 The Nasdaq Stock Market (“NASDAQ”) provides tiered pricing. Instinet pays fees and receives rebates based upon NASDAQ’s pricing schedule. The pricing schedule provided by NASDAQ, including the pricing for each tier, is available to the public here. During February 2020, Instinet paid, on average, a net fee of $0.0018 per share for orders it routed to NASDAQ. NYSE Arca ARCX 7.80 0.00 4.06 6.64 9.32 0.0000 0.0000 -8771.2984 -23.7590 6947.8494 36.6141 -4010.4624 -16.3962 NYSE ARCA, Inc. (“ARCA”) provides tiered pricing. Instinet pays fees and receives rebates based upon ARCA’s pricing schedule. The pricing schedule provided by ARCA, including the pricing for each tier, is available to the public here. During February 2020, Instinet paid, on average, a net fee of $0.0012 per share for orders it routed to ARCA. New York Stock Exch XNYS 5.83 0.20 7.35 4.70 6.95 -0.6767 -0.0865 -22042.8476 -59.7078 -3084.2326 -16.2534 -8039.7878 -32.8695 New York Stock Exchange LLC (“NYSE”) provides tiered pricing. Instinet pays fees and receives rebates based upon NYSE’s pricing schedule. The pricing schedule provided by NYSE, including the pricing for each tier, is available to the public here. During February 2020, Instinet paid, on average, a net fee of $0.0021 per share for orders it routed to NYSE. CBOE EDGX Exchange, Inc. EDGX 2.79 0.10 3.98 0.91 4.74 -0.2597 -0.0332 -4919.2885 -13.3250 336.9391 1.7756 -2923.9172 -11.9540 Cboe EDGX Exchange, Inc. (“Cboe EDGX”) provides tiered pricing. Instinet pays fees and receives rebates based upon Cboe EDGX’s pricing schedule. The pricing schedule provided by Cboe EDGX, including the pricing for each tier, is available to the public here. During February 2020, Instinet paid, on average, a net fee of $0.0015 per share for orders it routed to Cboe EDGX. Instinet CBX ICBX 0.71 0.00 5.20 0.33 0.80 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 Instinet owns and operates the Instinet CBX ATS. Instinet may direct customer orders to the CBX, and Instinet receives a commission from both sides of any transaction occurring in CBX (subject to the fee schedule in effect between Instinet and the relevant subscriber). Additional information regarding the Instinet CBX is available here. Level ATS LEVL 0.52 0.00 4.87 0.33 0.39 0.0000 0.0000 -463.0482 -1.2543 -101.8866 -0.5369 -109.6044 -0.4481 Instinet is a subscriber to the Level ATS. Instinet pays a flat fee for executions resulting from “firm” orders on the LeveL ATS; provided, however, that where in certain cases Instinet designates a firm order as only eligible to interact with certain other LeveL ATS subscribers, Instinet will not pay an execution fee. For conditional orders submitted to the LeveL ATS, fees are subject to volume-based pricing tiers set by eBX, LLC (the operator of LeveL ATS). Pricing tiers are based on the subscriber's average daily trading volume ("ADV") in the ATS during the prior calendar month, regardless of the order type or functionality used. Instinet has agreed to the following fees for conditional orders: (a) if the ADV is less than 1 million shares, a fee of $0.0015 per share; (b) if the ADV is greater than or equal to 1 million shares, a fee of $0.0010 per share; and (iii) if the ADV is greater than or equal to 3 million shares, a fee of $0.0005 per share. Virtu MatchIt KCGM 0.43 0.00 5.40 0.18 0.34 0.0000 0.0000 -64.1170 -0.1737 -42.1400 -0.2221 -16.4960 -0.0674 Instinet is a subscriber to the MatchIt ATS and pays a fee for executions occurring in the MatchIt ATS. Citadel Connect CDED 0.34 0.00 4.69 0.11 0.27 0.0000 0.0000 219.8526 0.5955 36.7752 0.1938 87.4038 0.3573 Instinet receives payments from Citadel Securities, LLC (“Citadel”) for directing market and marketable limit orders to Citadel Connect. During January 2020, Instinet received, on average, a net rebate of $0.0003 per share for orders it routed to Citadel. UBS Securities LLC - UBS ATS UBSA 0.33 0.00 4.32 0.13 0.25 0.0000 0.0000 -433.7450 -1.1749 -93.4610 -0.4925 -271.9380 -1.1118 Instinet is a subscriber to the UBS ATS and pays a fee for executions occurring in the UBS ATS. 7.92 0.01 6.25 42.98 50.76 Cboe BZX Exchange BATS 26.84 3.49 6.88 31.43 25.43 164.4834 14.6179 -60383.4986 -41.1824 -487.4962 -0.6251 -18182.9814 -15.5752 Cboe BZX Exchange, Inc. (“Cboe BZX”) provides tiered pricing. Instinet pays fees and receives rebates based upon Cboe BZX’s pricing schedule. The pricing schedule provided by Cboe BZX, including the pricing for each tier, is available to the public here. During February 2020, Instinet paid, on average, a net fee of $0.0017 per share for orders it routed to Cboe BZX. Nasdaq XNAS 19.09 94.32 8.46 17.95 21.35 711.7249 63.2520 -92122.1828 -62.8286 -13009.3187 -16.6803 -50144.1615 -42.9525 The Nasdaq Stock Market (“NASDAQ”) provides tiered pricing. Instinet pays fees and receives rebates based upon NASDAQ’s pricing schedule. The pricing schedule provided by NASDAQ, including the pricing for each tier, is available to the public here. During February 2020, Instinet paid, on average, a net fee of $0.0018 per share for orders it routed to NASDAQ. NYSE Arca ARCX 16.11 0.06 5.55 17.55 16.19 0.0000 0.0000 -60900.7717 -41.5352 3269.8792 4.1926 -38995.5893 -33.4029 NYSE ARCA, Inc. (“ARCA”) provides tiered pricing. Instinet pays fees and receives rebates based upon ARCA’s pricing schedule. The pricing schedule provided by ARCA, including the pricing for each tier, is available to the public here. During February 2020, Instinet paid, on average, a net fee of $0.0012 per share for orders it routed to ARCA. New York Stock Exch XNYS 12.06 0.51 7.74 13.44 11.43 -10.3596 -0.9207 -77430.8028 -52.8089 -10052.8267 -12.8895 -30319.7810 -25.9714 New York Stock Exchange LLC (“NYSE”) provides tiered pricing. Instinet pays fees and receives rebates based upon NYSE’s pricing schedule. The pricing schedule provided by NYSE, including the pricing for each tier, is available to the public here. During February 2020, Instinet paid, on average, a net fee of $0.0021 per share for orders it routed to NYSE. CBOE EDGX Exchange, Inc. EDGX 11.00 0.11 4.36 9.29 13.26 -0.0345 -0.0031 -30266.6190 -20.6423 909.1273 1.1657 -21481.6329 -18.4008 Cboe EDGX Exchange, Inc. (“Cboe EDGX”) provides tiered pricing. Instinet pays fees and receives rebates based upon Cboe EDGX’s pricing schedule. The pricing schedule provided by Cboe EDGX, including the pricing for each tier, is available to the public here. During February 2020, Instinet paid, on average, a net fee of $0.0015 per share for orders it routed to Cboe EDGX. Instinet CBX ICBX 3.18 0.00 6.42 2.24 3.58 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 Instinet owns and operates the Instinet CBX ATS. Instinet may direct customer orders to the CBX, and Instinet receives a commission from both sides of any transaction occurring in CBX (subject to the fee schedule in effect between Instinet and the relevant subscriber). Additional information regarding the Instinet CBX is available here. Level ATS LEVL 1.63 0.00 5.50 1.88 0.94 0.0000 0.0000 -1887.0882 -1.2870 -436.4952 -0.5597 -389.2866 -0.3335 Instinet is a subscriber to the Level ATS. Instinet pays a flat fee for executions resulting from “firm” orders on the LeveL ATS; provided, however, that where in certain cases Instinet designates a firm order as only eligible to interact with certain other LeveL ATS subscribers, Instinet will not pay an execution fee. For conditional orders submitted to the LeveL ATS, fees are subject to volume-based pricing tiers set by eBX, LLC (the operator of LeveL ATS). Pricing tiers are based on the subscriber's average daily trading volume ("ADV") in the ATS during the prior calendar month, regardless of the order type or functionality used. Instinet has agreed to the following fees for conditional orders: (a) if the ADV is less than 1 million shares, a fee of $0.0015 per share; (b) if the ADV is greater than or equal to 1 million shares, a fee of $0.0010 per share; and (iii) if the ADV is greater than or equal to 3 million shares, a fee of $0.0005 per share. Virtu MatchIt KCGM 1.22 0.00 6.04 0.82 0.96 0.0000 0.0000 -223.4190 -0.1524 -97.2390 -0.1247 -64.6500 -0.0554 Instinet is a subscriber to the MatchIt ATS and pays a fee for executions occurring in the MatchIt ATS. UBS Securities LLC - UBS ATS UBSA 1.02 0.00 4.82 0.67 0.84 0.0000 0.0000 -1093.1100 -0.7455 -304.8590 -0.3909 -517.7950 -0.4435 Instinet is a subscriber to the UBS ATS and pays a fee for executions occurring in the UBS ATS. Credit Suisse Securities (USA) CROS 0.99 0.00 4.50 0.64 0.86 0.0000 0.0000 -969.9360 -0.6615 -312.0000 -0.4000 -832.5890 -0.7132 Instinet is a subscriber to the CrossFinder ATS and pays a fee for executions occurring in the CrossFinder ATS. 1.53 0.69 0.00 97.90 1.41 BOX Exchange XBOX 22.86 11.76 0.00 23.19 5.71 0.0000 0.0000 0.0000 0.0000 -302.6100 -3.9766 0.0000 0.0000 BOX Exchange LLC (“BOX”) provides tiered pricing. Instinet pays fees and receives rebates based upon BOX’s pricing schedule. The pricing schedule provided by BOX, including the pricing for each tier, is available to the public here. During February 2020, Instinet paid, on average, a net fee of $0.21 per contract for orders it routed to BOX. Nasdaq Options Market XNDQ 11.71 0.00 0.00 11.96 0.00 0.0000 0.0000 0.0000 0.0000 -4997.7100 -65.6755 0.0000 0.0000 NASDAQ Options Market (“NOM”) provides tiered pricing. Instinet pays fees and receives rebates based upon NOM’s pricing schedule. The pricing schedule provided by NOM, including the pricing for each tier, is available to the public here. During February 2020, Instinet paid, on average, a net fee of $0.55 per contract for orders it routed to NOM. Cboe BZX Options Exchange BATO 10.24 0.00 0.00 9.45 70.00 0.0000 0.0000 0.0000 0.0000 -6812.8500 -89.5285 155.4500 191.2054 Cboe BZX Options Exchange (“BZX Options”) provides tiered pricing. Instinet pays fees and receives rebates based upon BZX Options’ pricing schedule. The pricing schedule provided by BZX Options, including the pricing for each tier, is available to the public at here. During February 2020, Instinet received, on average, a net rebate of $0.21 per contract for orders it routed to BZX Options. NYSE ARCA Options ARCO 8.19 11.76 0.00 8.15 8.57 0.0000 0.0000 0.0000 0.0000 -2005.2400 -26.3511 0.0000 0.0000 NYSE ARCA Options (“ARCA Options”) provides tiered pricing. Instinet pays fees and receives rebates based upon ARCA Options’ pricing schedule. The pricing schedule provided by ARCA Options, including the pricing for each tier, is available to the public here. During February 2020, Instinet paid, on average, a net fee of $0.47 per contract for orders it routed to ARCA Options. Nasdaq GEMX, LLC GMNI 6.79 0.00 0.00 6.94 0.00 0.0000 0.0000 0.0000 0.0000 -5631.6900 -74.0067 0.0000 0.0000 Nasdaq GEMX, LLC (“GEMX”) provides tiered pricing. Instinet pays fees and receives rebates based upon GEMX’s pricing schedule. The pricing schedule provided by GEMX, including the pricing for each tier, is available to the public here. During February 2020, Instinet paid, on average, a net fee of $0.54 per contract for orders it routed to GEMX. C2 Options Exchange, Inc. C2OX 6.37 11.76 0.00 6.36 4.29 0.0000 0.0000 0.0000 0.0000 -3635.0900 -47.7692 -126.4200 -155.4982 Instinet pays fees and receives rebates based upon Cboe C2 Options Exchange’s (“C2”) pricing schedule. During February 2020, Instinet paid, on average, a net fee of $0.47 per contract for orders it routed to C2. MIAX Pearl, LLC MPRL 5.46 0.00 0.00 5.56 1.43 0.0000 0.0000 0.0000 0.0000 -3041.8900 -39.9738 0.0000 0.0000 MIAX PEARL, LLC (“Pearl”) provides tiered pricing. Instinet pays fees and receives rebates based upon Pearl’s pricing schedule. The pricing schedule provided by Pearl, including the pricing for each tier, is available to the public here. During February 2020, Instinet paid, on average, a net fee of $0.52 per contract for orders it routed to Pearl. Separately, in accordance with Pearl’s market maker preferencing program, Instinet has preferenced a market maker on Pearl. Instinet receives payments from the preferenced market maker in connection with transactions effected by Instinet on Pearl. Such payments are provided by the relevant market maker, and not by the Exchange. Nasdaq ISE XISX 4.96 11.76 0.00 4.96 1.43 0.0000 0.0000 0.0000 0.0000 -1297.7700 -17.0542 -10.2500 -12.6076 Nasdaq ISE, LLC (“ISE”) provides tiered pricing. Instinet pays fees and receives rebates based upon ISE’s pricing schedule. The pricing schedule provided by ISE, including the pricing for each tier, is available to the public here. During February 2020, Instinet Instinet paid, on average, a net fee of $0.52 per contract for orders it routed to ISE. Separately, in accordance with ISE’s market maker preferencing program, Instinet has preferenced a market maker on ISE. Instinet receives payments from the preferenced market maker in connection with transactions effected by Instinet on ISE. Such payments are provided by the relevant market maker, and not by the Exchange. CBOE Exchange XCBO 4.60 11.76 0.00 4.51 7.14 0.0000 0.0000 0.0000 0.0000 -2873.0275 -37.7548 -0.5925 -0.7288 Cboe Exchange, Inc. (“Cboe”) provides tiered pricing. Instinet pays fees and receives rebates based upon Cboe’s pricing schedule. The pricing schedule provided by Cboe, including the pricing for each tier, is available to the public here. During February 2020, Instinet paid, on average, a net fee of $0.53 per contract for orders it routed to Cboe. Separately, in accordance with Cboe’s market maker preferencing program, Instinet has preferenced a market maker on Cboe. Instinet receives payments from the preferenced market maker in connection with transactions effected by Instinet on Cboe. Such payments are provided by the relevant market maker, and not by the Exchange. Separately, in accordance with Cboe’s market maker preferencing program, Instinet has preferenced a market maker on Cboe. Instinet receives payments from the preferenced market maker in connection with transactions effected by Instinet on Cboe. Such payments are provided by the relevant market maker, and not by the Exchange. MIAX Emerald, LLC. EMLD 3.73 0.00 0.00 3.79 1.43 0.0000 0.0000 0.0000 0.0000 -1092.7000 -14.3593 18.7000 23.0012 MIAX Emerald, LLC (“Emerald”) provides tiered pricing. Instinet pays fees and receives rebates based upon Emerald’s pricing schedule. The pricing schedule provided by Emerald, including the pricing for each tier, is available to the public here. During February 2020, Instinet paid, on average, a net fee of $0.40 per contract for orders it routed to Emerald. Separately, in accordance with Emerald’s market maker preferencing program, Instinet has preferenced a market maker on Emerald. Instinet receives payments from the preferenced market maker in connection with transactions effected by Instinet on Emerald. Such payments are provided by the relevant market maker, and not by the Exchange. 2020 3 8.00 0.05 22.66 51.21 26.08 Nasdaq XNAS 28.52 87.85 6.27 42.23 20.84 2222.0329 99.9328 -53136.5767 -57.4520 2084.1489 4.5760 -250.6604 -0.6449 The Nasdaq Stock Market (“NASDAQ”) provides tiered pricing. Instinet pays fees and receives rebates based upon NASDAQ’s pricing schedule. The pricing schedule provided by NASDAQ, including the pricing for each tier, is available to the public here. During March 2020, Instinet paid, on average, a net fee of $0.0015 per share for orders it routed to NASDAQ. Cboe BZX Exchange BATS 22.69 4.69 5.86 24.72 33.38 437.7840 19.6887 -40498.2345 -43.7873 -364.1798 -0.7996 -6309.8169 -16.2342 Cboe BZX Exchange, Inc. (“Cboe BZX”) provides tiered pricing. Instinet pays fees and receives rebates based upon Cboe BZX’s pricing schedule. The pricing schedule provided by Cboe BZX, including the pricing for each tier, is available to the public here. During March 2020, Instinet paid, on average, a net fee of $0.0013 per share for orders it routed to Cboe BZX. CBOE EDGX Exchange, Inc. EDGX 4.09 2.29 2.46 2.84 7.97 19.3431 0.8699 -9896.8521 -10.7006 348.5325 0.7652 -838.1724 -2.1565 Cboe EDGX Exchange, Inc. (“Cboe EDGX”) provides tiered pricing. Instinet pays fees and receives rebates based upon Cboe EDGX’s pricing schedule. The pricing schedule provided by Cboe EDGX, including the pricing for each tier, is available to the public here. During March 2020, Instinet paid, on average, a net fee of $0.0011 per share for orders it routed to Cboe EDGX. NYSE Arca ARCX 4.02 0.08 3.35 4.02 4.62 -3.0000 -0.1349 -21420.8092 -23.1605 6042.2457 13.2664 -899.8988 -2.3153 NYSE ARCA, Inc. (“ARCA”) provides tiered pricing. Instinet pays fees and receives rebates based upon ARCA’s pricing schedule. The pricing schedule provided by ARCA, including the pricing for each tier, is available to the public here. During March 2020, Instinet paid, on average, a net fee of $0.0012 per share for orders it routed to ARCA. New York Stock Exch XNYS 3.41 3.55 6.11 2.37 3.10 -5.9393 -0.2671 -55994.4352 -60.5420 -4518.8398 -9.9216 -8025.4425 -20.6482 New York Stock Exchange LLC (“NYSE”) provides tiered pricing. Instinet pays fees and receives rebates based upon NYSE’s pricing schedule. The pricing schedule provided by NYSE, including the pricing for each tier, is available to the public here. During March 2020, Instinet paid, on average, a net fee of $0.0018 per share for orders it routed to NYSE. Cboe EDGA Exchange, Inc. EDGA 3.04 0.00 6.12 2.03 2.36 0.0000 0.0000 5830.2680 6.3038 1200.6982 2.6363 1272.8344 3.2748 Cboe EDGA Exchange, Inc. (“Cboe EDGA”) provides tiered pricing. Instinet pays fees and receives rebates based upon Cboe EDGA’s pricing schedule. The pricing schedule provided by Cboe EDGA, including the pricing for each tier, is available to the public here. During March 2020, Instinet received, on average, a net rebate of $0.0018 per share for orders it routed to Cboe EDGA. Nasdaq BX XBOS 3.00 0.04 5.84 2.08 2.35 -0.1710 -0.0077 2175.3041 2.3520 -786.6714 -1.7272 -341.7186 -0.8792 Nasdaq BX, Inc. (“Nasdaq BX”) provides tiered pricing. Instinet pays fees and receives rebates based upon Nasdaq BX’s pricing schedule. The pricing schedule provided by Nasdaq BX, including the pricing for each tier, is available to the public here. During March 2020, Instinet received, on average, a net rebate of $0.0001 per share for orders it routed to Nasdaq BX. UBS Securities LLC - UBS ATS UBSA 2.83 0.00 5.11 2.06 2.39 0.0000 0.0000 -1828.9430 -1.9775 -695.8390 -1.5278 -445.5910 -1.1464 Instinet is a subscriber to the UBS ATS and pays a fee for executions occurring in the UBS ATS. Credit Suisse Securities (USA) CROS 2.76 0.00 4.98 2.02 2.27 0.0000 0.0000 -2361.5070 -2.5533 -681.5740 -1.4965 -285.4990 -0.7345 Instinet is a subscriber to the CrossFinder ATS and pays a fee for executions occurring in the CrossFinder ATS. Cboe BYX Exchange, Inc. BATY 2.65 0.04 4.99 1.86 2.16 0.0000 0.0000 2669.5607 2.8864 -794.5689 -1.7446 -338.4989 -0.8709 Cboe BYX Exchange, Inc. (“Cboe BYX”) provides tiered pricing. Instinet pays fees and receives rebates based upon Cboe BYX’s pricing schedule. The pricing schedule provided by Cboe BYX, including the pricing for each tier, is available to the public here. During March 2020, Instinet received, on average, a net rebate of $0.0004 per share for orders it routed to Cboe BYX. 1.62 0.01 8.20 45.55 46.25 Nasdaq XNAS 29.13 85.23 6.55 31.05 31.24 1846.3707 81.6187 -176098.6127 -56.5200 -16003.0143 -11.0673 -50875.3684 -28.6640 The Nasdaq Stock Market (“NASDAQ”) provides tiered pricing. Instinet pays fees and receives rebates based upon NASDAQ’s pricing schedule. The pricing schedule provided by NASDAQ, including the pricing for each tier, is available to the public here. During March 2020, Instinet paid, on average, a net fee of $0.0015 per share for orders it routed to NASDAQ. Cboe BZX Exchange BATS 15.32 7.19 5.42 16.42 15.99 596.0554 26.3486 -118808.6707 -38.1324 2764.6014 1.9119 32.3910 0.0182 Cboe BZX Exchange, Inc. (“Cboe BZX”) provides tiered pricing. Instinet pays fees and receives rebates based upon Cboe BZX’s pricing schedule. The pricing schedule provided by Cboe BZX, including the pricing for each tier, is available to the public here. During March 2020, Instinet paid, on average, a net fee of $0.0013 per share for orders it routed to Cboe BZX. NYSE Arca ARCX 14.25 0.32 4.69 14.84 15.37 -0.3576 -0.0158 -127338.8934 -40.8702 3677.2815 2.5431 -52342.6272 -29.4906 NYSE ARCA, Inc. (“ARCA”) provides tiered pricing. Instinet pays fees and receives rebates based upon ARCA’s pricing schedule. The pricing schedule provided by ARCA, including the pricing for each tier, is available to the public here. During March 2020, Instinet paid, on average, a net fee of $0.0012 per share for orders it routed to ARCA. CBOE EDGX Exchange, Inc. EDGX 11.96 3.89 3.28 12.59 12.89 129.8932 5.7419 -55798.6449 -17.9089 7754.2930 5.3627 -20757.7299 -11.6952 Cboe EDGX Exchange, Inc. (“Cboe EDGX”) provides tiered pricing. Instinet pays fees and receives rebates based upon Cboe EDGX’s pricing schedule. The pricing schedule provided by Cboe EDGX, including the pricing for each tier, is available to the public here. During March 2020, Instinet paid, on average, a net fee of $0.0011 per share for orders it routed to Cboe EDGX. New York Stock Exch XNYS 7.66 1.77 5.75 7.73 7.94 -34.2185 -1.5126 -132767.8182 -42.6127 -5026.6646 -3.4763 -21289.4875 -11.9948 New York Stock Exchange LLC (“NYSE”) provides tiered pricing. Instinet pays fees and receives rebates based upon NYSE’s pricing schedule. The pricing schedule provided by NYSE, including the pricing for each tier, is available to the public here. During March 2020, Instinet paid, on average, a net fee of $0.0018 per share for orders it routed to NYSE. Virtu MatchIt KNEM 1.93 0.00 6.70 1.47 1.53 0.0000 0.0000 -309.8180 -0.0994 -128.2730 -0.0887 -97.6930 -0.0550 Instinet is a subscriber to the MatchIt ATS and pays a fee for executions occurring in the MatchIt ATS. Level ATS LEVL 1.61 0.00 4.20 1.65 1.10 0.0000 0.0000 -3904.1160 -1.2531 -737.3940 -0.5100 -700.2072 -0.3945 Instinet is a subscriber to the Level ATS. Instinet pays a flat fee for executions resulting from “firm” orders on the LeveL ATS; provided, however, that where in certain cases Instinet designates a firm order as only eligible to interact with certain other LeveL ATS subscribers, Instinet will not pay an execution fee. For conditional orders submitted to the LeveL ATS, fees are subject to volume-based pricing tiers set by eBX, LLC (the operator of LeveL ATS). Pricing tiers are based on the subscriber's average daily trading volume ("ADV") in the ATS during the prior calendar month, regardless of the order type or functionality used. Instinet has agreed to the following fees for conditional orders: (a) if the ADV is less than 1 million shares, a fee of $0.0015 per share; (b) if the ADV is greater than or equal to 1 million shares, a fee of $0.0010 per share; and (iii) if the ADV is greater than or equal to 3 million shares, a fee of $0.0005 per share. UBS Securities LLC - UBS ATS UBSA 1.55 0.00 5.32 1.11 1.33 0.0000 0.0000 -4438.4920 -1.4246 -878.9690 -0.6079 -938.1470 -0.5286 Instinet is a subscriber to the UBS ATS and pays a fee for executions occurring in the UBS ATS. Credit Suisse Securities (USA) CROS 1.53 0.00 5.47 1.05 1.31 0.0000 0.0000 -5940.9350 -1.9068 -823.3390 -0.5694 -1401.9470 -0.7899 Instinet is a subscriber to the CrossFinder ATS and pays a fee for executions occurring in the CrossFinder ATS. JP Morgan Securities LLC JPMX 1.43 0.00 4.61 1.02 1.28 0.0000 0.0000 -1430.9570 -0.4593 -237.5660 -0.1643 -670.5000 -0.3778 Instinet, LLC is a subscriber to the JPM-X ATS and pays a fee for executions occurring in the JPM-X ATS 4.32 61.86 0.00 36.66 1.48 BOX Exchange XBOX 19.06 10.69 0.00 33.62 8.24 56.2000 30.2802 0.0000 0.0000 39.1500 1.2905 0.0000 0.0000 BOX Exchange LLC (“BOX”) provides tiered pricing. Instinet pays fees and receives rebates based upon BOX’s pricing schedule. The pricing schedule provided by BOX, including the pricing for each tier, is available to the public here. During March 2020, Instinet received, on average, a net rebate of $0.11 per contract for orders it routed to BOX. CBOE Exchange XCBO 10.44 12.10 0.00 8.02 1.18 -0.7650 -0.4122 0.0000 0.0000 -2586.7250 -85.2663 -0.6625 -0.6072 Cboe Exchange, Inc. (“Cboe”) provides tiered pricing. Instinet pays fees and receives rebates based upon Cboe’s pricing schedule. The pricing schedule provided by Cboe, including the pricing for each tier, is available to the public here. During March 2020, Instinet paid, on average, a net fee of $0.48 per contract for orders it routed to Cboe. Separately, in accordance with Cboe’s market maker preferencing program, Instinet has preferenced a market maker on Cboe. Instinet receives payments from the preferenced market maker in connection with transactions effected by Instinet on Cboe. Such payments are provided by the relevant market maker, and not by the Exchange. NYSE American Options AMXO 9.99 11.71 0.00 7.45 1.18 0.0000 0.0000 0.0000 0.0000 -346.0000 -11.4052 0.0000 0.0000 NYSE American Options (“AMEX”) provides tiered pricing. Instinet pays fees and receives rebates based upon AMEX’s pricing schedule. The pricing schedule provided by AMEX, including the pricing for each tier, is available to the public here. During March 2020, Instinet paid, on average, a net fee of $0.35 per contract for orders it routed to AMEX. Separately, in accordance with AMEX’s market maker preferencing program, Instinet has preferenced a market maker on AMEX. Instinet receives payments from the preferenced market maker in connection with transactions effected by Instinet on AMEX. Such payments are provided by the relevant market maker, and not by the Exchange. Nasdaq ISE XISX 9.50 12.38 0.00 5.03 0.00 85.8000 46.2284 0.0000 0.0000 -743.4200 -24.5054 0.0000 0.0000 Nasdaq ISE, LLC (“ISE”) provides tiered pricing. Instinet pays fees and receives rebates based upon ISE’s pricing schedule. The pricing schedule provided by ISE, including the pricing for each tier, is available to the public here. During March 2020, Instinet paid, on average, a net fee of $0.40 per contract for orders it routed to ISE. Separately, in accordance with ISE’s market maker preferencing program, Instinet has preferenced a market maker on ISE. Instinet receives payments from the preferenced market maker in connection with transactions effected by Instinet on ISE. Such payments are provided by the relevant market maker, and not by the Exchange. C2 Options Exchange, Inc. C2OX 9.00 11.03 0.00 5.89 1.18 63.1000 33.9978 0.0000 0.0000 -1101.7300 -36.3164 -34.8300 -31.9248 Instinet pays fees and receives rebates based upon Cboe C2 Options Exchange’s (“C2”) pricing schedule. During March 2020, Instinet paid, on average, a net fee of $0.30 per contract for orders it routed to C2. Nasdaq PHLX XPHO 8.96 12.38 0.00 3.56 0.00 0.0000 0.0000 0.0000 0.0000 -1011.6300 -33.3464 0.0000 0.0000 Nasdaq PHLX LLC (“Nasdaq PHLX”) provides tiered pricing. Instinet pays fees and receives rebates based upon Nasdaq PHLX’s pricing schedule. The pricing schedule provided by Nasdaq PHLX, including the pricing for each tier, is available to the public here. Instinet paid, on average, a net fee of $0.46 per contract for orders it routed to Nasdaq PHLX. NYSE ARCA Options ARCO 8.81 11.48 0.00 4.61 1.18 119.7600 64.5259 0.0000 0.0000 -1027.4500 -33.8679 -5.8800 -5.3896 NYSE ARCA Options (“ARCA Options”) provides tiered pricing. Instinet pays fees and receives rebates based upon ARCA Options’ pricing schedule. The pricing schedule provided by ARCA Options, including the pricing for each tier, is available to the public here. During March 2020, Instinet paid, on average, a net fee of $0.50 per contract for orders it routed to ARCA Options. Miami Intl Exchange XMIO 7.47 10.47 0.00 2.71 0.00 80.2000 43.2112 0.0000 0.0000 -773.1500 -25.4854 0.0000 0.0000 Miami International Securities Exchange (“MIAX”) provides tiered pricing. Instinet pays fees and receives rebates based upon MIAX’s pricing schedule. The pricing schedule provided by MIAX, including the pricing for each tier, is available to the public at https://www.miaxoptions.com/sites/default/files/fee_schedule-files/MIAX_Options__Fee__Schedule__05_29_20.pdf. During March 2020, Instinet paid, on average, a net fee of $0.40 per contract for orders it routed to MIAX. Separately, in accordance with MIAX’s market maker preferencing program, Instinet has preferenced a market maker on MIAX. Instinet receives payments from the preferenced market maker in connection with transactions effected by Instinet on MIAX. Such payments are provided by the relevant market maker, and not by the Exchange. Cboe EDGX Options EDGO 5.85 7.77 0.00 2.85 0.00 37.5000 20.2047 0.0000 0.0000 -286.6900 -9.4502 0.0000 0.0000 Cboe EDGX Options (“EDGX Options”) provides tiered pricing. Instinet pays fees and receives rebates based upon EDGX Options’ pricing schedule. The pricing schedule provided by EDGX Options, including the pricing for each tier, is available to the public here. During March 2020, Instinet paid, on average, a net fee of $0.35 per contract for orders it routed to EDGX Options. Separately, in accordance with EDGX Options’ market maker preferencing program, Instinet has preferenced a market maker on EDGX Options. Instinet receives payments from the preferenced market maker in connection with transactions effected by Instinet on EDGX Options. Such payments are provided by the relevant market maker, and not by the Exchange. Cboe BZX Options Exchange BATO 3.57 0.00 0.00 6.32 84.71 0.0000 0.0000 0.0000 0.0000 -2051.9500 -67.6385 257.3000 235.8387 Cboe BZX Options Exchange (“BZX Options”) provides tiered pricing. Instinet pays fees and receives rebates based upon BZX Options’ pricing schedule. The pricing schedule provided by BZX Options, including the pricing for each tier, is available to the public at here. During March 2020, Instinet received, on average, a net rebate of $0.37 per contract for orders it routed to BZX Options.