National Market Systems

The Options Order Protection and Locked/Crossed Markets Plan, also referred to as the “Decentralized Linkage Plan”, replaces the former Options Intermarket Linkage Plan.

The Decentralized Linkage Plan may be viewed at: http://www.optionsclearing.com/initiatives/ola/ola.jsp.

The registered options exchanges in the United States have been authorized under the Securities Exchange Act of 1934 to agree to a "Plan for Reporting of Consolidated Options Last Sale Reports and Quotation Information" (the "Plan"). The exchanges that are parties to the Plan, including BOX, are referred to as the "Participant Exchanges". The Plan determines that the system for reporting options information that is described in the Plan is to be administered by the Participant Exchanges through a committee consisting of representatives of the Participant Exchanges. The committee is named the Options Price Reporting Authority or "OPRA". Pursuant to the Plan, OPRA provides, through different Market Data Vendors, last sale information and current options quotations.

The Plan may be viewed on the OPRA Website at: http://www.opradata.com/.

The U.S. options exchanges and the Options Clearing Corporation (OCC) are sponsors of the Options Listing Procedures Plan, a national market system plan, which describes procedures to be followed by the parties in connection with selecting specified underlying interests for listing purposes and requesting a review of such selections. In addition, it describes procedures for selecting options series, determining operational procedures related to adjustment decisions, and admitting and removing plan sponsors.

The Options Listing Procedures Plan may be viewed at:
http://www.theocc.com/products/olpp_overview.jsp.