OVERVIEW

Fenics USTreasuries (“Fenics UST”) is a fully electronic U.S. Government securities (“USTs”) trading venue owned and operated by BGC Financial, L.P. (“BGC”), a FINRA registered broker- dealer, and counterparty to all transactions. Fenics UST operates two electronic marketplaces: a Central Limit Order Book (“CLOB”) and a “Block Book”. Subscribers to the platform are expected to be banks, broker-dealers, professional trading firms (“PTFs”) and institutional investors.