View the full Fees and Charges as of January 31, 2006.

¹These transaction fees do not apply to: (1) Directed Orders, regardless of account type, that are matched within the Directed Order Process; (2) Directed Orders for the account of a retail public customer that are executed partially or in their entirety via the Directed Order, Display Order, Working Order, and Tracking Order processes (however, any unfilled or residual portion of a retail customer’s order that is routed away and executed by another market center or participant will incur this transaction fee); (3) orders executed in the Opening Auction, Market Order Auction, and the Closing Auction; (4) Cross Orders; (5) commitments received through ITS.

²As defined by PCXE Rule 1.1(c)

³As defined by PCXE Rule 1.1(d)

⁴No transaction fee or credit for orders executed as Directed Orders against a Directed Fill

⁵For exchange-listed securities, an ETP Holder that submits a Tracking Order instruction that subsequently matches against an inbound marketable order will not be entitled to receive the Liquidity Provider Credit. LMMs will not be eligible for a market data revenue credit in securities for which they are registered as the LMM except for executions against Directed Fills

⁶ETP Holders who qualify under the criteria below will be eligible for participation in the Estimated Rebate Program and will be eligible to receive Liquidity Provider Credits on a monthly basis. To qualify initially, an ETP Holder must satisfy the Initial Qualification standard by executing at least 250 million Tape B shares through ArcaEx. To maintain eligibility for the Program, the ETP Holder must execute at least 500 million Tape B shares during each successive, continuous three-month period thereafter. ETP Holders who do not qualify for Estimated Rebates will receive payment on a quarterly basis.

⁸Transaction fees are excluded from the late payment of dues, fees, fines and charges.