Expanding the Client Network

Active Firms 800 1,400 1,300 1,200 1,100 1,000 900 1Q19 Strength in Emerging Markets Continues . • HIGHLIGHTS Record emerging markets active clients of 1,371, up 7% Total emerging markets trading volume of $175.3 billion, up 11% on record estimated market share • Record $27.3 billion in APAC emerging markets trading volume, up 59% Record emerging markets local markets trading volume of $68 billion Record 39% of total emerging market volume Volume (in $ billions) 80 70 60 50 8232: 40 30 20 10 EMERGING MARKETS ACTIVE CLIENT FIRMS 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 Q2 YoY Growth 7% Volume (in $ billions) 1Q19 2Q19 3Q19 4Q19 LOCAL MARKETS TRADING VOLUME Q2 YoY Growth 38% wall 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 TTM EM HARD CURRENCY VS. LOCAL MARKETS Hard Currency Local Markets Q2 TTM Growth 5-Year CAGR 20% 800 700 600 500 29% 30% 29% 31% 30% 32% 34% 33% 31% 30% 400 33% 33% 33% 31% 300 200 69% 67% 67% 67% 67% 69% 70% 71% 71% 70% 70% 69% 68% 66% 100 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 X Market Axess® 26 4Q21 1Q22 2Q22

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