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Chi-X Europe Issues Q1 2008 Trading Statistics


    Chi-X(R) Europe Limited, the first live, pan-European equity
    Multilateral Trading Facility (MTF), today published its trading
    statistics for the first quarter of 2008.

    Chi-X Europe offers trading, clearing and settlement for the
    component stocks of the FTSE 100 (British), CAC 40 (French), AEX 25
    (Dutch), DAX 30 (German), SMI 20 (Swiss), OMX Stockholm 30 (Swedish)
    indices.

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    *T
    Chi-X(R) Europe Trading Statistics - Q1 2008
    ----------------------------------------------------------------------
    Overview (vs. Previous Quarter)
    Number of Trades 6,629,090 (+176%)
    Share Volume 6,581,183,080 (+256%)
    Turnover EUR 74,264,870,421
    (+115%)

    Market Share Highlights
    ----------------------------------------------------------------------
    Percentage of
    Combined Chi-X
    Stock Date Europe and
    Primary Exchange
    Volume Executed
    on Chi-X Europe
    Royal & Sun Alliance Group 12-Mar-08 34.30%
    Old Mutual 13-Mar-08 32.87%
    Standard Chartered 27-Mar-08 32.04%
    Legal & General Group 13-Mar-08 27.97%
    TUI 31-Mar-08 24.24%
    Aegon 10-Jan-08 22.04%
    Price Improvement *

    Percentage of Trades
    Executed Average Price
    Month Inside the Primary Improvement
    Market (basis points)
    Spread
    March 2008 45% 2.76
    February 2008 47% 2.67
    January 2008 53% 2.93
    December 2007 49% 2.38
    November 2007 49% 2.28
    October 2007 51% 1.99
    September 2007 46% 1.85
    August 2007 49% 1.97
    July 2007 57% 2.17
    June 2007 69% 2.67
    May 2007 54% 1.5
    *T

    * Price improvement is defined as the difference between the Chi-X
    Europe execution price and the best quoted price on the primary
    exchange at that time.

    About Chi-X(R) Europe

    Chi-X Europe Limited, a majority-owned, indirect subsidiary of
    Instinet Incorporated, is an FSA-authorised securities firm operating
    as an MTF (Multilateral Trading Facility) for the trading of a wide
    range of European equities.

    Chi-X Europe´s low-cost, streamlined model is designed to help
    participants achieve ultra-low execution, clearing and settlement
    costs. Benchmark tests showed the Chi-X Europe operating model to be
    up to 10 times faster* and significantly less expensive than Europe´s
    traditional equity exchanges. Chi-X Europe disseminates market data to
    clients directly and via third-party market data vendors at no cost,
    and off-exchange trade reporting is available for a low monthly fee.
    For more information, please visit: www.chi-x.com.

    * Based on Instinet Europe Limited´s exchange linkages performance
    measurement statistics for average DMA order messaging in June 2007.
    These Instinet internal figures are for round-trip latency message
    acknowledgement based on sending an average number of messages to the
    exchange system and obtaining a response back to Instinet´s system
    over the course of a normal trading day. They are provided for
    illustrative purposes only and are not intended to represent an
    independent performance measure of latency. Market volatility and
    volume may affect actual performance.

    About Instinet

    Instinet is a global securities firm, providing over 1,500 clients
    around the world with the necessary trading tools, ATS platforms and
    global agency liquidity to achieve a high quality trade execution in
    more than 40 countries. Acting solely as an agent for its customers,
    Instinet seeks to improve institutional investment performance and
    lower overall trading costs through its various front-end trading
    systems, securities crossing networks, smart-routing technology,
    algorithms, commission management programs and investment research
    products. Instinet, through its subsidiaries, operates a wide array of
    ATS platforms around the world, including CBX(SM) in the United
    States, JapanCrossing(SM) in Asia and Chi-X(R) in Europe, Canada and,
    soon, Australia. The firm, which is a wholly-owned subsidiary of
    Nomura Holdings, Inc., has offices in North America, Europe and the
    Asia-Pacific region. For more information, please visit
    www.instinet.com.

    (C)2008 Chi-X Europe Limited. All rights reserved. INSTINET is a
    registered trademark in the United States and in other countries
    throughout the world. CHI-X is a registered trademark in the UK and
    Europe. Approved for distribution in Europe by Chi-X Europe Limited,
    which is authorised and regulated by the Financial Services Authority.
    Approved for distribution in the United States by Instinet, LLC,
    member FINRA/SIPC.