December 30, 2011

This letter is a follow-up reminder to our announcements of May 30, 2011 concerning TSX Level 1 real-time Subscriber fees, S&P/TSX index values, and CanDeal fixed income benchmarks.

Effective April 1, 2012, TMX Datalinx will be reducing its fees for Professional Subscribers of TSX Level 1 real-time data from $32.00 CAD to $30.00 CAD per month. Additionally, real time S&P/TSX index values will no longer be included in the TSX Level 1 real-time Professional Subscriber product, but will be charged as a standalone service at $1.50 CAD per access per month. S&P/TSX index values will continue to be included in the CEG data bundle for Professional Subscribers outside of Canada.

Also effective April 1, 2012, CanDeal fixed income benchmarks will no longer be included in the TSX Level 1 and CEG real time Professional Subscriber products. For Subscribers who wish to continue to access the CanDeal fixed income benchmarks, the monthly Subscriber fee will be $5.00 per month. For Distributors who wish to disseminate the CanDeal fixed income benchmarks only, the CanDeal feed charges are being waived for the time being.

At this time, we are also announcing a price change to our Montreal Exchange ("MX") data feed pricing. Monthly Access Fees for Internal Distributors of MX Market Data will be modified from $500.00 per month to $750.00 per month. This change goes into effect April 1, 2012.

The changes outlined above will be revised in the pricing schedules published on our website, www.tmx.com, located at the following link:
http://www.tmx.com/en/data/product_sheets/index.html
Please consider this letter to be your official notice of these changes in accordance with your TMX data agreement.