Document:

<PAGE>   1

                           FIXED INCOME DATA AGREEMENT

THIS AGREEMENT is entered into as of the first day of October 1999.

BETWEEN

(1)   REUTERS LIMITED, a company incorporated in England and Wales, whose
      registered office is at 85 Fleet Street, London EC4P 4AJ ("Reuters"); and

(2)   INSTINET CORPORATION, a company incorporated in the state of Delaware,
      whose registered office is at 875 Third Avenue, New York, New York 10022
      ("Instinet").

RECITALS:

(A)   Reuters supplies online news and business and financial information
      services to its clients worldwide and, in particular, has developed and
      maintains a database which includes terms and conditions, price and
      reference data relating to certain fixed income instruments traded on
      markets around the world.

(B)   Instinet supplies electronic equities brokerage services to its clients
      worldwide and has developed and wishes to market and supply to its clients
      a new electronic fixed income brokerage service intended to support
      anonymous, electronic execution of trades in fixed income financial
      instruments.

(C)   Reuters is willing to supply Instinet with a feed of certain terms and
      conditions, price and reference data relating to fixed income instruments
      which it currently maintains on, or during the life of this Agreement will
      add to, its database and Instinet wishes to acquire the right to make that
      data available to subscribers through its fixed income service, subject to
      the terms of this Agreement.

                                       1
<PAGE>   2

(D)   Instinet is willing to supply Reuters with a feed of certain price data
      derived from the trading of fixed income instruments over its fixed income
      service and Reuters wishes to acquire, on behalf of the Reuters Group, the
      right to use and distribute that data in accordance with the terms of this
      Agreement.

(E)   In order to facilitate Reuters supply of the fixed income terms and
      conditions, price and reference data to Instinet and Instinet's supply of
      the traded price data to Reuters, Reuters and Instinet have developed and
      agree to maintain and support delivery mechanisms and an interface between
      Reuters managed systems and network and Instinet's managed systems and
      network via which such data will be delivered, in each case as further set
      out in this Agreement.

IT IS AGREED AS FOLLOWS:

1.    DEFINITIONS AND INTERPRETATIONS

1.1   The following definitions apply throughout this Agreement unless the
      context otherwise requires:

Agreement

This agreement and all its schedules and attachments, as amended from time to
time.

Application Programming Interface

The means by which programmatic access to the functionality and certain of the
Fixed Income Service's data is provided by Instinet to Subscribers for use in
their internal applications and systems.

Data Service Level Agreement

The service level agreement attached at Schedule 1.

Fixed Income Data

The fixed income terms and conditions,

                                       2
<PAGE>   3

price and reference data fields for each of the asset classes which are
specified in Schedule 2 and which are held from time to time in the Reuters
Database.

Fixed Income Datafeed

The digital feed more fully described in the Operational Service Level Agreement
via which Reuters will deliver the Fixed Income Data and changes and updates to
it to Instinet.

Fixed Income Data Delivery Specification

The technical means by which Reuters will deliver the Fixed Income Data to
Instinet, as further described in the Operational Service Level Agreement.

Fixed Income Service

Instinet's fixed income brokerage service, Instinet Fixed Income Markets.

Instinet Database

The database described more fully in the Operational Service Level Agreement and
into which Reuters will feed the Fixed Income Data from the Reuters Database.

Instinet Affiliate

Instinet Holdings Limited, Instinet International Limited and any direct or
indirect subsidiary of Instinet or Instinet International Limited in which from
time to time Instinet or Instinet International Limited beneficially owns 50% or
more of the issued share capital and the general management of which it has the
legal power to direct

                                       3
<PAGE>   4

Operational Service Level Agreement

The service level agreement attached at Schedule 3.

Reuters Database

The database on which Reuters stores fixed income terms and conditions,
reference and price data from time to time, currently the RDB.

Reuters Group

Reuters Group PLC and any of its direct or indirect subsidiaries from time to
time, excluding Instinet and any Instinet Affiliate.

Reuters Services

With respect to the Traded Price Data further described in Parts 1 and 2 of
Schedule 4, those high tier financial information services marketed and
distributed by the Reuters Group from time to time comprising the Reuters 3000
series of information services, Reuters 3000 Xtra and any other Reuters Group
service(s) in which from time to time Instinet agrees in advance with Reuters
the Traded Price Data may be included, and with respect to the Traded Price Data
further described in Part 2 of Schedule 4 those bulk data information services
marketed and distributed by the Reuters Group from time to time including, for
the avoidance of doubt, Reuters Viking series of bulk data information services.

Subscribers

Actual and potential customers who contract with Instinet for the supply of the
Fixed Income Service and who are permissioned to use it.

Traded Price Data

The data described in Schedule 4 as amended from time to time.

                                        4
<PAGE>   5

Traded Price Datafeed

The digital feed via which Instinet will deliver Datafeed updates of the Traded
Price Data to Reuters.

1.2   In this Agreement:

      1.2.1 unless the context otherwise requires, all references to a
            particular Clause or Schedule are references to that Clause in or
            Schedule to this Agreement as it may be amended from time to time;

      1.2.2 the headings are inserted for convenience only and must be ignored
            in construing this Agreement;

      1.2.3 references to the words "include" or "including" are to be construed
            without limitation to the generality of the preceding words;

      1.2.4 references to "the date of the Agreement" or "the date of this
            Agreement" mean the first (1st) day of October 1999, which shall be
            taken to be the effective date of this Agreement.

      1.2.5 words referring to persons include any individual, company,
            partnership, trust or association, whether or not a separate legal
            person.

2.    DURATION

      2.1   This Agreement begins on 1 October 1999 and will continue in force
            for a period of two (2) years from that date (the "Initial Term").
            This Agreement will be automatically renewed for additional one year
            terms ("Renewal Terms") unless either party gives the other at least
            six (6) months' prior written notice of termination, such notice to
            expire on the expiry of the Initial Term or any Renewal Term.

      2.2   Reuters and Instinet agree to carry out a full technical and
            commercial review of the subject matter of the Agreement within
            three (3) months of the first anniversary of the date of the
            Agreement. This is in addition to any operational

                                        5
<PAGE>   6

            reviews carried out under Clause 8, the Data Service Level Agreement
            or the Operational Service Level Agreement.

      2.3   On termination of the Agreement in accordance with Clauses 2.1, 11
            or 12.3:

            2.3.1 Reuters will cease to supply updates of the Fixed Income Data
                  to Instinet with immediate effect, but Instinet may maintain
                  on the Instinet Database and continue to make available to
                  Subscribers static files of Fixed Income Data supplied to it
                  by Reuters under the Agreement prior to its termination
                  provided however that if requested by Reuters pursuant to an
                  obligation owed by a member of the Reuters Group to a third
                  party data source Instinet will use all reasonable efforts to
                  purge such Fixed Income Data from the Instinet Database and
                  any other medium on which it is stored by Instinet. The rights
                  and obligations of both parties under the Agreement will
                  continue in effect in relation to such usage of the Fixed
                  Income Data following termination of the Agreement.

            2.3.2 Instinet will cease to supply updates of the Traded Price Data
                  to Reuters with immediate effect, but the Reuters Group may
                  continue to maintain on the Reuters Database and distribute
                  via the Reuters Services static files of Traded Price Data
                  supplied to it by Instinet under the Agreement prior to its
                  termination. The rights and obligations of both parties under
                  the Agreement will continue in effect in relation to such
                  usage of the Traded Price Data following termination of the
                  Agreement.

3.    DEVELOPMENT AND CONNECTIVITY

      3.1   Reuters and Instinet have worked together to develop and implement
            the Fixed Income Data Delivery Specification. Reuters and Instinet
            may each modify the Fixed Income Data Delivery Specification at
            their own cost provided they do so in accordance with Clause 8 and
            the terms of the Operational Service Level Agreement and provided
            they use reasonable efforts to ensure that such

                                       6
<PAGE>   7

            modifications do not result in substantially inferior delivery or
            quality of the Fixed Income Data.

      3.2   Reuters and Instinet will each ensure that any equipment connected
            by it to the other's network and systems is connected in accordance
            with the Fixed Income Data Delivery Specification and is used in
            accordance with any instructions, safety or security procedures
            applicable to the use of that equipment.

4.    FIXED INCOME DATA - REUTERS OBLIGATIONS

      4.1   Subject to Clauses 2.3.1 and 4.4, Reuters grants to Instinet, on its
            own behalf and on behalf of the Instinet Affiliates, a perpetual,
            non-exclusive, fully paid-up worldwide licence to use, and to
            sub-license to Subscribers the right to use, the Fixed Income Data
            solely for the purpose of facilitating and supporting trading over
            the Fixed Income Service as follows:

            4.1.1 Instinet, and the Instinet Affiliates, may store, copy and
                  maintain the Fixed Income Data on their internal systems and
                  use it in order to carry out development work, to provide
                  client support to Subscribers and to perform risk management
                  analysis, in each case in relation to the Fixed Income
                  Service;

            4.1.2 With the exception of fields including, but not limited to,
                  those relating to credit ratings, call schedules and
                  redemption schedules and in any event only to the extent
                  reasonably necessary, Instinet and the Instinet Affiliates may
                  display the Fixed Income Data on-screen over the Fixed Income
                  Service for the purpose of enabling permitted users at
                  Subscriber organisations to identify and select individual
                  fixed income instruments on-screen both in order to trade
                  those instruments over the Fixed Income Service and to review
                  trade tickets generated in relation to specific transactions;

                                        7
<PAGE>   8

            4.1.3 Instinet and the Instinet Affiliates may use the Fixed Income
                  Data for the purpose of computing and displaying on-screen
                  over the Fixed Income Service analytical values such as price,
                  yield and duration provided however that Instinet and the
                  Instinet Affiliates may not expressly permit Subscribers to
                  use the Fixed Income Data displayed over the Fixed Income
                  Service to create their own analytical values nor may they
                  export the Fixed Income Data to Subscribers with the intention
                  of permitting them to do so;

            4.1.4 Instinet and the Instinet Affiliates may export individual
                  items of reference Fixed Income Data to Subscribers via the
                  Application Programming Interface for the purpose of enabling
                  permitted users at Subscriber organisations:

                  (i)   to identify and select individual fixed income
                        instruments on-screen both in order to trade those
                        instruments over the Fixed Income Service and to review
                        trade tickets generated in relation to specific
                        transactions; and

                  (ii)  to redistribute such Fixed Income Data internally over
                        the relevant Subscriber's systems to the extent
                        necessary to carry out back-office settlement, risk
                        management and other support functions relating to
                        individual trades over the Fixed Income Service;

                  provided always that Instinet and the Instinet Affiliates may
                  not at any time export a copy of all or a substantial part of
                  the Fixed Income Data to any Subscriber nor expressly or
                  impliedly permit Subscribers to upload or otherwise store,
                  copy or redistribute the same.

      4.2   Reuters agrees that Instinet may sub-license and redistribute the
            Fixed Income Data to, and permit access to and use of the Fixed
            Income Data by, the Instinet Affiliates subject to Clauses 4.1 and
            4.4 of the Agreement provided always that Instinet ensures that each
            Instinet Affiliate to which it sub-licenses and

                                        8
<PAGE>   9

            redistributes the Fixed Income Data or which it permits to access or
            use the Fixed Income Data is made aware of and complies with the
            terms of this Agreement.

      4.3   Instinet and the Instinet Affiliates are not permitted to use or
            permit Subscribers to use the Fixed Income Data for any purposes
            other than those identified in Clause 4.1 and in particular they are
            not entitled to use the Fixed Income Data in order to develop and
            market a fixed income market information service. Any use of the
            Fixed Income Data beyond what is permitted in Clauses 4.1 and 4.4
            will be subject to Reuters prior written approval and any conditions
            which Reuters may attach to that approval.

      4.4   Reuters will deliver to Instinet all Fixed Income Data which is
            contained within the Reuters Database at the date of the Agreement
            or which is subsequently added to it. Instinet will not be entitled
            to make any individual asset class of Fixed Income Data available to
            Subscribers via the Fixed Income Service without the prior consent
            of Reuters (such consent to be confirmed in writing by Reuters as
            soon as is practicably possible at the relevant time) provided
            however that:

            4.4.1 Reuters may withhold or subsequently withdraw its consent to
                  the inclusion of particular Fixed Income Data in the Fixed
                  Income Service only if it is not entitled to permit Instinet
                  and the Instinet Affiliates to make the relevant data
                  available to Subscribers under the terms of an agreement
                  between a member of the Reuters Group and the source of the
                  said data and the Reuters Group has already used reasonable
                  endeavours to secure or retain the right do so or to find an
                  alternative source of that data;

            4.4.2 Reuters hereby authorises Instinet and the Instinet Affiliates
                  to make available to Subscribers the asset classes of Fixed
                  Income Data specified in Part I of Schedule 2.

                                        9
<PAGE>   10

      4.5   In accordance with Clause 8, Reuters will notify Instinet promptly
            of each new set of Fixed Income Data which it adds to the Reuters
            Database.

      4.6   Reuters will deliver the Fixed Income Data to Instinet in accordance
            with the Fixed Income Data Delivery Specification and Reuters will
            be responsible for, and bear the cost of, such delivery.

      4.7   Reuters will use reasonable endeavours to deliver the Fixed Income
            Data to Instinet on a timely basis and to maintain, support and
            communicate faults in the Fixed Income Datafeed in accordance with
            the terms of the Data Service Level Agreement and the Operational
            Service Level Agreement.

      4.8   Although Reuters will be responsible for and will use reasonable
            endeavours to ensure the accuracy and completeness of the Fixed
            Income Data and, in accordance with the terms of the Data Service
            Level Agreement, to provide second level support to Subscribers in
            relation to it, Instinet acknowledges that Reuters gathers the Fixed
            Income Data from multiple sources and neither Reuters nor any other
            member of the Reuters Group will be liable to Instinet or any
            Instinet Affiliate for any direct, indirect, special or
            consequential damage suffered in connection with the supply of the
            Fixed Income Data to Instinet under this Agreement.

      4.9   Reuters will not be responsible for the accuracy, completeness or
            reliability of any fixed income terms and conditions, price or
            reference data made available by Instinet or any Instinet Affiliate
            through the Fixed Income Service which Instinet or an Instinet
            Affiliate has not obtained from Reuters or any other member of the
            Reuters Group, and neither Reuters nor any other member of the
            Reuters Group will be liable to Instinet or any Instinet Affiliate
            in relation thereto.

      4.10  Reuters will provide appropriate training on the content and
            structure of the Fixed Income Datafeed to those employees of
            Instinet or an Instinet Affiliate who require it.

                                       10
<PAGE>   11

5.    FIXED INCOME DATA - INSTINET'S OBLIGATIONS

5.1   Instinet will receive the Fixed Income Data in accordance with the Fixed
      Income Data Delivery Specification.

5.2   Instinet will use its reasonable endeavours to communicate to Reuters any
      faults in the Fixed Income Datafeed in accordance with the Operational
      Service Level Agreement.

5.3   Subject to Clause 4.7, Instinet will be responsible for and will use its
      reasonable endeavours to support Subscribers' enquiries about the content,
      use, functionality and support of the Fixed Income Service in accordance
      with the Data Service Level Agreement.

5.4   In accordance with the Data Service Level Agreement, Instinet will provide
      appropriate training on the content, functionality and structure of the
      Fixed Income Service to Reuters employees who require it.

5.5   Instinet will to the extent reasonably practicable, and at all times,
      maintain the security of the Fixed Income Data in accordance with Reuters
      and Instinet's standard technical and security policies in force from time
      to time.

5.6   Notwithstanding the provisions of Clause 8, Instinet will use reasonable
      endeavours to give Reuters at least sixty (60) days' prior written notice
      of its intention to launch trading of a new asset class of fixed income
      instrument over the Fixed Income Service. Within twenty one (21) days of
      receiving such notification, Reuters will use its reasonable endeavours to
      confirm to Instinet whether or not it consents to Instinet and the
      Instinet Affiliates making the corresponding asset class of Fixed Income
      Data available to Subscribers via the Fixed Income Service.

                                       11
<PAGE>   12

6.    TRADED PRICE DATA

6.1   Instinet hereby grants to Reuters, on behalf of all present and future
      members of the Reuters Group, a perpetual, non-exclusive, fully paid-up
      worldwide license to use, copy, store, package, process, manipulate,
      modify and prepare derivative works from the Traded Price Data and to
      market, sub-license and distribute the Traded Price Data and derivative
      works prepared from it to Reuters Group clients via the Reuters Services
      provided however that such right and license is granted to Reuters on an
      exclusive basis for the duration of the Initial Term. The Reuters Group
      may also market, distribute and sub-license the distribution of the Traded
      Price Data and derivative works prepared from it to such of the Reuters
      Group's authorised distributors only with the express and prior written
      consent of Instinet.

6.2   As soon as is practicable and in any event no later than 3 April 2000
      Instinet will commence delivery of the Traded Price Data to Reuters
      subject to the embargoes described in Schedule 4. Notwithstanding the
      above, if any technical delay in implementing the Traded Price Datafeed is
      caused by Reuters Instinet will not be obliged to commence delivery of the
      Traded Price Data until Reuters has removed the cause of the delay.

6.3   Instinet will use its reasonable endeavours to deliver the Traded Price
      Data to Reuters on a timely basis and to maintain, support and communicate
      faults in the Traded Price Datafeed. Once the means for delivering the
      Traded Price Data to Reuters are fully defined, the parties will use
      reasonable endeavours to negotiate and settle in good faith and
      incorporate into this Agreement a service level agreement documenting in
      satisfactory detail the Traded Price Datafeed and the training,
      maintenance and support Instinet will provide to the Reuters Group in
      relation to it. Reuters and Instinet agree that such service level
      agreement will provide for a level of service and responsiveness at least
      equivalent to that provided for in the Data Service Level Agreement and
      the and Operational Service Level Agreement.

                                       12
<PAGE>   13

6.4   Instinet will be responsible for and will use reasonable endeavours to
      ensure the accuracy and completeness of the Traded Price Data and will
      provide support to the Reuters Group and to subscribers of Reuters
      Services in relation to the Traded Price Data. Instinet will not be liable
      to Reuters for any direct, indirect, special or consequential damage
      suffered in connection with the supply of the Traded Price Data to Reuters
      under this Agreement.

6.5   Instinet will not be responsible for the accuracy, completeness or
      reliability of any fixed income traded price data made available by
      Reuters through the Reuters Services which Reuters has not obtained from
      Instinet and Instinet will not be liable to Reuters in relation thereto.

6.6   In marketing and distributing the Traded Price Data through the Reuters
      Services, Reuters will comply with all reasonable requirements and
      procedures established and notified to it from time to time by Instinet in
      relation to the permissioning of access to and usage of the Traded Price
      Data. In particular, Reuters agrees to restrict the release of last traded
      price data distributed by it via its integrated data network in accordance
      with any reasonable requirements notified to it by Instinet from time to
      time.

6.7   Instinet will be responsible for, and bear the cost of, transmitting the
      Traded Price Data to Reuters.

7.    VALUATION

      Reuters and Instinet agree that the annual values of the Fixed Income Data
      and Traded Price Data to be delivered during the first two years'
      operation of the Agreement are as follows:

      7.1.  in the case of the Fixed Income Data, approximately (pound)270,000
            in the first year and (pound)540,000 in the second year;

      7.2   in the case of the Traded Price Data, approximately (pound)150,000
            in the first year and (pound)690,000 in the second year;

                                       13
<PAGE>   14

            such values to be kept under review by the parties and, if
            appropriate, revised.

8.    CHANGE CONTROL

      Any change to a Schedule of this Agreement will be made in accordance with
      the following procedure:

      8.1   the party proposing the change will provide the other with a written
            notification describing in appropriate detail the nature of the
            proposed change;

      8.2   once every month the parties' nominated representatives will meet by
            teleconference or other appropriate means to discuss all changes
            proposed in writing in accordance with Clause 8.1 since their
            meeting the previous month;

      8.3   the party to whom a change is proposed will use reasonable
            endeavours to evaluate the proposed change and respond to the party
            who proposed it within thirty (30) business days of the meeting at
            which it is discussed;

      8.4   if the parties agree to make a change to a Schedule, that change
            must be recorded in writing by the party who proposed it and signed
            by a duly authorised officer of each party before the change becomes
            effective;

      8.5   for the purposes of this Clause 8, for the time being Reuters
            nominated representatives will be Gary Weston, Christine Ranhosky
            and Phil Lambert and Instinet's nominated representatives will be
            Rustam Lam, Vivian Lok and Rachel Moseley.

9.    INTELLECTUAL PROPERTY RIGHTS

9.1   Each party acknowledges that:

                                       14
<PAGE>   15

      9.1.1 Reuters will own all intellectual property rights, trade secrets and
            other proprietary technical, commercial and financial information
            which it has created or generated in performing its obligations
            under this Agreement; and

      9.1.2 Instinet will own all intellectual property rights, trade secrets
            and other proprietary technical, commercial and financial
            information which it has created or generated in performing its
            obligations under this Agreement;

      and neither party will take any action inconsistent with this
      acknowledgement.

10.   CONFIDENTIALITY

10.1  Reuters and Instinet will keep in confidence any information of a
      confidential nature (whether written or oral) disclosed to it by the other
      party in connection with or under the Agreement and neither will disclose
      any such information to any person other than their employees or
      professional advisers who need to know that information for the purpose of
      performing their obligations under or in connection with this Agreement
      without the prior written consent of the party who disclosed it.

10.2  Reuters will not disclose the contents of Part 2 of Schedule 2 (and any
      amendments to it) to anyone who is not identified on the authorised
      disclosure list agreed with Instinet and maintained separately by Reuters.

10.3  This Clause 10 will not apply to:

      10.3.1 any information which has been published other than through a
             breach of the Agreement;

      10.3.2 information in the possession of the recipient before the
             disclosure under the Agreement took place;

                                       15
<PAGE>   16

      10.3.3 information obtained from a third party who is free to disclose it;

      10.3.4 information which a party is required by law to disclose.

10.4  This Clause will remain in effect for two (2) years after the termination
      or expiry of the Ageement for any reason or, in relation to any individual
      item of confidential information, until the disclosing party confirms in
      writing to the recipient that the relevant item of information need no
      longer be treated as confidential, whichever is the earlier.

11.   TERMINATION

11.1  Without affecting any of its other rights, either party may terminate the
      Agreement if the other is in material breach of any obligation under the
      Agreement by giving the other not less than thirty (30) days' written
      notice of its election to terminate, such notice to state the nature of
      the default claimed. The defaulting party may correct the default (if
      capable of correction) during that thirty (30) business days period and if
      it is corrected the Agreement will continue in full force and effect as if
      such notice had not been given.

11.2  Either party is entitled to terminate the Agreement immediately and
      without notice if:

      11.2.1 control of the other passes outside the Reuters Group or if there
             is a change in control of Reuters Group PLC. For the purposes of
             this Clause, "control" means the beneficial ownership, whether
             direct or indirect, of more than 50% of the issued share capital of
             the relevant party and the legal power to direct or cause the
             direction of the general management of that party;

      11.2.2 Instinet ceases to market and distribute the Fixed Income Service
             or any substantially equivalent service or it ceases to carry on
             business under any bankruptcy, insolvency, reorganisation or
             similar law or for any other reason.

                                       16
<PAGE>   17

11.3  Both parties acknowledge the reciprocal nature of the subject matter of
      this Agreement. If for any reason either party does not commence, or
      subsequently ceases, delivery of all or a substantial part of the data
      which it has undertaken to supply under this Agreement, the other party
      may at its discretion:

      11.3.1 elect to treat such default as a material breach by the other of
             the Agreement and terminate the Agreement in accordance with Clause
             11.1; or

      11.3.2 require fair and reasonable payment from the other for the supply
             of the relevant data, such payment to be based on the open market
             value of that data specified in Clause 7 as amended from time to
             time.

11.4  Termination of the Agreement will not affect any rights or obligations of
      either party which are expressed to survive termination or which have
      arisen on or before termination.

11.5  Neither party will be liable to the other party for any indemnities or
      damages in the event this Agreement expires and is not renewed.

12.   FORCE MAJEURE

12.1  The provisions of this Agreement are binding upon Reuters and Instinet
      except where prevented or interfered with by riot, war or hostilities
      between nations, governmental action (other than action taken in response
      to a party to this Agreement who violates or fails to act with respect to
      any law or governmental regulation, in which case the party at fault shall
      not be permitted to claim the benefit of this Clause), acts of God, fire,
      accidents, earthquakes, strikes, labour disputes, delays of carriers, lack
      of transportation facilities, inability to obtain materials, curtailment
      of or failure in obtaining sufficient power or fuel and other causes
      beyond the reasonable control of the parties.

12.2  The party affected by force majeure shall give notice to the other party
      of that force majeure event promptly after it occurs, stating in such
      notice the nature

                                       17
<PAGE>   18

      of the suspension of performance and the reasons for it. The affected
      party will use its best efforts to resume performance as soon as
      reasonably possible but will not be required to settle any strike or other
      labour dispute on unreasonable terms. On restoration of the affected
      party's ability to perform its obligations under this Agreement, it will
      give immediate notice to this effect to the other party.

12.3  If a force majeure event continues for a period of six (6) consecutive
      months, and there is no reasonable prospect for a prompt cure of the
      relevant force majeure event, then notwithstanding the provisions of
      Clauses 2.1 and 11 the party not affected by force majeure will be
      entitled to terminate this Agreement in its entirety and without liability
      upon ninety (90) days' prior written notice to the other party. However,
      this right of termination will not apply in the case of a strike or other
      labour dispute provided that the party affected has used its best efforts
      to resume performance as required by Clause 12.2.

13.   ASSIGNMENT

      Neither Reuters nor Instinet may transfer or assign or purport to transfer
      or assign any right or obligation under this Agreement or any part of it
      without the prior written consent of the other party, unless such transfer
      or assignment is to another company in the Reuters Group.

14.   WAIVER

      No failure of either party to exercise, and no delay by it in exercising,
      any right, power or remedy in connection with this Agreement (each being a
      "Right") will operate as a waiver of it, nor will any single or partial
      exercise of any Right preclude any other or further exercise of such Right
      or the exercise of any other Right. The Rights are cumulative and not
      exclusive of any other rights or remedies provided by law or otherwise.

                                       18
<PAGE>   19

15.   ENTIRE AGREEMENT

      Reuters and Instinet acknowledge and agree that this Agreement is the
      entire understanding of the parties in relation to the subject matter of
      this Agreement, that it supersedes all prior written or oral
      representations and agreements of the parties relating to the matters
      dealt with in this Agreement (save to the extent implied by law) and that
      neither Reuters nor Instinet have relied on any warranty or representation
      (except in the case of fraud) made by the other. No change or modification
      of this Agreement will be binding on the parties unless it is executed in
      writing and signed by a duly authorised officer of each of the parties.

16.   NOTICES

      Any notice or other document required to be given or forwarded under this
      Agreement must be sent by courier, registered mail or by fax to the
      following persons:

      (i)   Reuters: General Counsel, 85 Fleet Street, London EC4P 4AJ;

      (ii)  Instinet Corporation: Rachel Moseley, Instinet Corporation, 850
            Third Avenue, New York, NY l0022 and a copy to General Counsel,
            Instinet Corporation at the same address.

      Notices will be deemed to be received three (3) business days after being
      sent or on proof of delivery, if earlier.

17.   NO PARTNERSHIP OR JOINT VENTURE BETWEEN PARTIES

      Nothing in this Agreement will be construed so as to create any
      partnership, joint venture or relationship of principal and agent or
      between the parties and neither party will have any authority to represent
      or bind the other party in any way and will not represent that it has such
      authority.

                                       19
<PAGE>   20

18.   CHOICE OF LAW

      This Agreement is governed by and will be interpreted in accordance with
      English law and the parties irrevocably agree that the courts of England
      will have non-exclusive jurisdiction to deal with any disputes arising out
      of or in connection with the Agreement.

19.   SURVIVAL

      Clauses 2.3, 4.1, 4.8, 4.9, 6.4, 6.5, 9, 10 and 18 will survive the
      termination or expiry of the Agreement for any reason.

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed
by their duly authorised representatives on the day, month and year first above
written.

For and on behalf of                    For and on behalf of
INSTINET CORPORATION                    REUTERS LIMITED

/s/ [ILLEGIBLE]                         /s/ William Goldy
------------------------------          ------------------------------
Name                                    Name

SVP                                     DIRECTOR CORE BUSINESS RI
------------------------------          ------------------------------
Title                                   Title

10/19/99                                21/9/00
------------------------------          ------------------------------
Date                                    Date

                                       20
<PAGE>   21

                                   SCHEDULE I
                          DATA SERVICE LEVEL AGREEMENT

                                       21
<PAGE>   22

                      Data Service Level Agreement between
                              Reuters and Instinet

Synopsis:

The purpose of this Data Service Level Agreement ("Data SLA") is to define
specific data support roles and activities for the Fixed Income Service being
launched by Instinet in Q3 1999 which will be fed by Reuters with Fixed Income
Data from the Reuters Database. The service level targets defined in this
document are intended to provide a quantifiable measure of the quality of
service that Reuters and Instinet aim to provide under the Agreement.

Unless indicated otherwise, all capitalised terms used in this document bear the
meaning defined in the Fixed Income Data Agreement between Reuters and Instinet
(the "Agreement") of which this document forms a part.

                                      Author:      Christine Ranhosky
                                        Date:      20 September 1999
                                     Version:      0.3 Draft
                                    Document:      InstSLAl.doc

Approval:

Reuters                                 /s/ J. Reeve                   1/16/2001
J. Reeve                                ----------------------------------------

Tom Frossell

Instinet                                /s/ R. Moseley                  10/19/99
Rachel Moseley                          ----------------------------------------

Reviewed:

Reuters Product Director                ----------------------------------------
Peter Seremetis
Reuters Product Manager
Gary Schneider
Reuters Information Support             ----------------------------------------
Terry Huff
Tom Frossell
Instinet Product Mgt                    ----------------------------------------
Rustam Lam
Instinet Development                    ----------------------------------------
Duncan Johnston-Watt
Rachel Moseley

                                       22
<PAGE>   23

                         Service Level Agreement between
                               Reuters & Instinet

DOCUMENT HISTORY
--------------------------------------------------------------------------------

Issue   Version Date            Description of Change           Author
--------------------------------------------------------------------------------
Draft   7 April 1999            First draft of SLA              Christine
                                                                Ranhosky
--------------------------------------------------------------------------------
Draft   27 August 19999         Second Draft of SLA             Christine
                                                                Ranhosky
--------------------------------------------------------------------------------
Draft   20 September            Third Draft                     Christine
                                                                Ranhosky
--------------------------------------------------------------------------------

                                       23
<PAGE>   24

INDEX
--------------------------------------------------------------------------------

1.          RESPONSIBILITIES OF EACH PARTY                                  25

2.          TERMS OF REFERENCE                                              25

3.          SERVICE LEVEL COMMITMENTS                                       25
3.1         Reuters Commitments                                             25
3.2         Instinet Commitments                                            26
3.3         Data Delivery Service                                           26
3.4         Customer Service                                                26

4.          SERVICE LEVEL MANAGEMENT                                        27
4.1         Measurement                                                     27
4.2         Contacts                                                        27

                                       24
<PAGE>   25

1     RESPONSIBILITIES OF EACH PARTY
--------------------------------------------------------------------------------

The broad responsibilities of Reuters and Instinet under this Data SLA are
summarised below. Subject to the terms of the Agreement:

Reuters will provide:

      a)    Reference and historical Fixed Income Data to Instinet

      b)    A delivery feed to Instinet of the Fixed Income Data as specified in
            the Operational Service Level Agreement attached as Schedule 3 of
            the Agreement.

      c)    Customer support to Instinet in respect of the Fixed Income Data as
            further specified in this Data SLA.

Instinet will provide:

      a)    Maintenance of its own copy of the Fixed Income Data delivered to it
            by Reuters via the Fixed Income Datafeed.

      b)    Processing of the Fixed Income Data received from Reuters via the
            Fixed Income Datafeed as further specified in this Data SLA.

      c)    Displays of the Fixed Income Data to Subscribers over the Fixed
            Income Service.

      d)    Customer support to Subscribers for product and data functionality
            in relation to the Fixed Income Service.

TERMS OF REFERENCE

The purpose of this Data SLA is to document the data service level targets which
both Reuters and Instinet will use reasonable endeavours to achieve in relation
to the Fixed Income Data delivered to Instinet by Reuters under the Agreement.
The Data SLA forms an integral part of the Agreement, provided however that the
parties intend to create legally binding relations or impose legally binding
duties, liabilities, or obligations upon each other in relation to the subject
matter of the Data SLA only to the extent indicated in the Agreement and no
obligation is placed on Reuters or Instinet which exceeds that agreed in the
Agreement.

Both Reuters and Instinet will provide to nominated representatives of the other
sufficient access and facilities as are reasonably required to audit the
operation of this Data SLA. A review of the SLA by both parties is required on a
six month basis or as and when new content is provided or requested. Access will
be subject to the standing security procedures in force on either side.

Both Reuters and Instinet agree that the responsibilities and commitments set
out in this Data SLA may only be changed in accordance with Clause 8 of the
Agreement with the additional requirement that each party will use reasonable
endeavours to give a minimum of 90 days' written notice to the other of proposed
changes to data field level, format or models and additions to data sets.

Reviews of the SLA will be conducted by the parties in accordance with Clause 2
or 8 of the Agreement as applicable.

3.    SERVICE LEVEL COMMITMENTS
--------------------------------------------------------------------------------

3.1   Reuters Commitments

3.1.1 Servicing the Feed

Reuters Operations and Communications Support Groups at the Reuters Docklands
Technical Center (DTC) in London agree to use reasonable endeavours to maintain
and service the Fixed Income

                                       25
<PAGE>   26

Datafeed described in Section 2.1 of the Operational Service Level Agreement
(the "Operational SLA") such that the flow of Fixed Income Data to Instinet is
sustained on an ongoing basis. They will endeavour to resolve any problems
regarding the Fixed Income Datafeed for which Reuters has responsibility in
accordance with the terms of the Operational SLA.

Data Content Support

Reuters will provide second level support for the Fixed Income Data through its
Information Support Desks identified in Section 4.2 of this document. Reuters
will provide a version of ReutersQ, Reuters electronic query tracking system, at
the Instinet sites specified in Section 4.3 of this document. The data support
provided by Reuters will include verification and/or correction of the Fixed
Income Data supplied by Reuters under the Agreement. Corrections will be made at
the Reuters source database and fed through to Instinet via the Fixed Income
Datafeed.

Data Quality

Reuters is responsible for the quality and completeness of the Fixed Income Data
on the basis described in Clause 4.6 of the Agreement. Accuracy is expected to
be over 90% for supported sovereign data. Reuters will use reasonable endeavours
to ensure that overall reliability of the Fixed Income Data is high enough to
ensure that there is always accurate data available for Instinet retrieval
during operational hours under normal operating conditions.

3.1.2 Training

Reuters agrees to provide training to Instinet employees on the content and
structure of the Fixed Income Datafeed and related documentation as is required
and appropriate.

3.2   Instinet Commitments

Data and Product Content Support

Instinet agrees to escalate all inquiries to the appropriate source of support,
which shall be Reuters in the case of queries relating purely to the content
Fixed Income Data supplied by it under this Agreement and Instinet in the case
of all other queries. For the avoidance of doubt, Instinet is responsible for
the support of queries relating to the operation of the Fixed Income Service,
data on the Instinet Database and future data content of the Fixed Income
Service. Instinet is also responsible for all aspects of Fixed Income Service
functionality including installation, product support, release management and
decommissioning of products.

Training

Instinet agrees to provide training to Reuters employees on the content and
structure of the Fixed Income Service and related documentation as is required
and appropriate. Instinet will also be responsible for providing training to
Subscribers in relation to the Fixed Income Service.

3.3   Data Delivery Service

Reuters is responsible for maintaining the Fixed Income Datafeed in accordance
with the terms of the Operational SLA.

3.4   Customer Service

Reuters Information Support Desks operate a priority system with respect to
Subscriber queries. The highest level of priority relates to queries from paying
clients using Reuters data in trading applications. Under the terms of this SLA
Reuters agrees to consider Instinet queries conforming to this criterion as a
top priority. Instinet in turn recognises the distinction between live
production queries and

                                       26
<PAGE>   27

non production queries and will endeavour to ensure that direct availability of
the Reuters Information Support Desks is not abused by non urgent queries being
treated as high priority. Under the SLA it is recognised that, given the
relatively small size of the Instinet Fixed Income business group at launch,
queries from Instinet are likely to come from all parts of the organisation, not
just the Instinet Help Desks and Broker Desks.

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
                                                        Target Time
--------------------------------------------------------------------------------
<S>                                                     <C>
Time for Reuters Information Support desk to answer     1-4 Hours
--------------------------------------------------------------------------------
Time for Reuters to fix                                 1-TBD
--------------------------------------------------------------------------------
</TABLE>

"Answer" is defined as the time taken for the Reuters Information Support Desk
to deliver an answer to the query originator and, if appropriate, launch a
correction (or "Fix") onto the Reuters Database. The answer should include a
reasonable estimate of when Instinet can expect to see the correction on the
Reuters Database. The answer time is based on the availability of local market
sources for validation and the time required to answer a query will also be
dependent on the time zone difference between the query originator and the
Reuters Information Support Desk resource who is able to answer the query.

A "Fix" is defined as the time required for a data correction to appear on the
Reuters Database. The target time is dependent on the nature and volume of the
query.

4.    SERVICE LEVEL MANAGEMENT

4.1   Measurement

Under the terms of this data SLA, Reuters and Instinet agree to collect and
record Help Desk Problem Reports in the form of ReutersQ reports on query
activity. Other measurements of service availability and exception reports
(based on a weekly synchronisation comparison) will be covered under the
Operational SLA.

4.2   Contacts

Reuters Subscriber Inquiry Escalation

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
<S>                             <C>                     <C>
Stamford Information Support    + 1-203-425-2650        1300-2300
Desk                                                    GMT
--------------------------------------------------------------------------------
Tiverton Information Support    + 44-171-542-8650       0800-1800
Desk                                                    GMT
--------------------------------------------------------------------------------

<CAPTION>
Instinet Subscriber Inquiry Contacts

--------------------------------------------------------------------------------
<S>                             <C>                     <C>
New York Help Desk              + 1-800-432-1285
--------------------------------------------------------------------------------
London Help Desk                + 44-171-680-3456
--------------------------------------------------------------------------------

<CAPTION>
Reuters Management Contacts

--------------------------------------------------------------------------------
<S>                             <C>                     <C>
Peter Seremetis         Product Director        US/ 203 425 2660
--------------------------------------------------------------------------------
Gary Schneider          Product Manager         US/ 203 940 8324
--------------------------------------------------------------------------------
Gary Weston             Business Manager        US/ 203 940 8519
--------------------------------------------------------------------------------
Bill Goldy              Project Sponsor         UK/ 0171 542 8542
--------------------------------------------------------------------------------
Terry Huff              Director, Information   US/ 416 350-5287
                        Support, America
--------------------------------------------------------------------------------
</TABLE>

                                       27
<PAGE>   28

<TABLE>
--------------------------------------------------------------------------------
<S>                     <C>                             <C>
Tom Frossel             Manager, European               GVA/41 22 718 2227
                        Information Support
--------------------------------------------------------------------------------
</TABLE>

Instinet Management Contacts

<TABLE>
--------------------------------------------------------------------------------
<S>                     <C>                             <C>
Rachel Moseley          CIO Fixed Income Markets        US/212 310 7847
--------------------------------------------------------------------------------
Rustam Lam              Head of Fixed Income            UK/0171 680 3376
                        Production Management -
                        Europe
--------------------------------------------------------------------------------
Steve Cary              Head of Fixed Income            US/212 310 7524
                        Broker Desk - US
--------------------------------------------------------------------------------
Michael Ezra            Head of Fixed Income            UK/0171 680 3104
                        Broker Desk - Europe
--------------------------------------------------------------------------------
Duncan Johnston-Watt    Head of Fixed Income            UK/0171 680 3229
                        Development
--------------------------------------------------------------------------------
Steve Mavin             Manager, Fixed Income           UK/0171 680 3317
                        Development
--------------------------------------------------------------------------------
Vivian Lok              Fixed Income Development        US/212 310 7381

--------------------------------------------------------------------------------
</TABLE>

                                       28
<PAGE>   29

                                   SCHEDULE 2

                                FIXED INCOME DATA

                       ASSET CLASSES REQUIRED BY INSTINET

PART 1

Subject to the terms of the Agreement, with effect from the date of the
Agreement Reuters will provide Instinet with Fixed Income Data in relation to
the following asset classes:

Governments*:

o     All US Treasuries

o     All Euro denominated Government debt issued in the 11 converting
      countries: Austria, Belgium, Finland, France, Germany, Ireland, Italy,
      Luxembourg, Netherlands, Portugal, Spain.

Agencies:

o     All Supranationals (both US and Euro denominated)

Jumbo Pfandbriefe

PART 2

Subject to the terms of the Agreement, with effect from the dates indicated
below Reuters will use its reasonable endeavours to provide Instinet with Fixed
Income Data for at least the following asset classes:

(i)   1 January 2000

Governments*:

o     Japan

o     Denmark

o     Finland

o     Norway

o     U.K

o     Switzerland

Agencies:

o     All Euro denominated Agencies

o     All US Agencies

                                       29
<PAGE>   30

Credit products:

o     Eurobonds (all currencies)

Futures

Repos

(ii)  1 March 2000

US Corporates

US Mortgages

The list of asset classes in Part II of this Schedule is not intended to be
exhaustive and may be supplemented from time to time by agreement between the
parties.

* Note: Governments comprise all applicable issued instruments for the relevant
country such as coupons, zeros, strips, index linked and bills.

                                       30
<PAGE>   31

SCHEDULE 3

             OPERATIONAL SERVICE LEVEL AGREEMENT

                                       31
<PAGE>   32

                                                                      Holder No.

                            A SERVICE LEVEL AGREEMENT

                                     Between

                                     REUTERS
                                 GTC-L DOCKLANDS
               Service Operations Financial Information Databases
                              Group (SOFID) London
                                       And
                                    INSTINET
                      Operations, Newport Financial centre

                            Issue 1.1 September 1999

Agreed by:   Andrew Rieger     Sgn: /s/ Andrew Rieger    Date: 10-[ILLEGIBLE]-99
             Client Technology Manager, Fixed Income, INSTINET

Agreed by:   Rob Wallace       Sgn: /s/ Rob Wallace      Date: 1/2/2001
             Service Operations Manager, Reuters SOFID

                                              Compiled By: G.N.Ford
                                                     Date: September 1999
                                                           ISSUED

 This document is issued and controlled by the Quality Systems Group (Reuters).
Changes may only be authorised by the approval signatory above. Numbered copies
of this document have been issued to registered holders. Updates will be issued
  automatically for these copies. Amendments to unnumbered copies will not be
                                    issued.

Unless indicated otherwise, all capitalised terms used in this document bear the
 meaning defined in the Fixed Income Data Agreement between Reuters Limited and
  Instinet Corporation (the "Agreement") of which this document forms a part.

 THIS DOCUMENT CONTAINS INFORMATION PROPRIETARY TO REUTERS LIMITED, AND MAY NOT
         BE REPRODUCED, DISCLOSED OR USED IN WHOLE OR PART WITHOUT THE
                     EXPRESS PERMISSION OF REUTERS LIMITED.
                            (C) 1999 REUTERS LIMITED

                                       32
<PAGE>   33

1.0 Contents

Section                                                                     Page

 1.0    Contents                                                               2
 2.0    Introduction                                                           3
 3.0    The Customer and the Supplier                                          3
 4.0    Terms of Reference                                                     4
 5.0    INSTINET Service Level Commitments                                     5
 6.0    REUTERS Service Level Commitments                                      7
 7.0    SLA Administration                                                     8
 8.0    References                                                             9
 9.0    Appendices                                                            11
10.0    Revision History                                                      14

                                       33
<PAGE>   34

2.0 Introduction

      This document forms an integral part of the Agreement. It describes the
      mutually agreed operational procedures and relationship between;

      Reuters, Service Operations Financial Information Databases Group, London
      and INSTINET, Newport Financial centre, NJ

      relating to the Fixed Income Datafeed, and the constituent components of
      it.

2.1 Services/Systems

      The Fixed Income Datafeed
      The Terms & Conditions Host identified in Appendix C (the "T&C's Host")
      The Reuters-side firewall platform
      Network infrastructure up to the Reuters-side firewall

3.0 The Customer and the Supplier

      The customer under the terms of this Operational Service Level Agreement
      (the "SLA") is an external (to Reuters) company. The customer, INSTINET,
      shall receive the Fixed Income Data via Reuters managed systems and
      networks in accordance with the Agreement and the provisions of this SLA.

                                       34
<PAGE>   35

4.0 Terms of Reference

4.1   This document regulates the operational interfaces between Reuters and
      INSTINET. The parties intend to create legally binding relations or to
      impose legally binding duties, liabilities, or obligations upon each other
      only to the extent indicated in the Agreement and no obligation is placed
      on Reuters or INSTINET which exceeds that agreed in the Agreement.

4.2   Any faults or other non-compliance matters raised in connection with the
      operation of this SLA will be treated as a Customer/Supplier issue and
      investigated by reuters and INSTINET accordingly.

4.3   Both Reuters and INSTINET agree to provide sufficient access and
      facilities as are reasonably required to allow the other's nominated
      representatives to audit compliance with this SLA. Access will be provided
      subject to the standing security procedures applied at the time by the
      party providing such access.

4.4   Both Reuters and INSTINET agree that the responsibilities documented
      within the SLA cannot be changed without the consent of the signatories
      detailed on the front page of the SLA (or their nominated representatives
      from time to time) and in accordance with Clause 8 of the Agreement.

4.5   Both Reuters and INSTINET will each nominate a representative who will act
      on its behalf as the focal point for all SLA non-compliance and quality
      issues arising under the SLA (the "Quality Representatives"). (For further
      details see Section.7.O of the SLA - Administration).

4.6   The Quality Representatives of both Reuters and INSTINET will convene
      meetings as appropriate in order to evaluate any issues that may affect
      any operational quality standards or the functioning of the SLA.

                                       35
<PAGE>   36

5.0 INSTINET Service Level Commitments

5.1 Operations

      (i)   INSTINET will maintain communication with Reuters using the
            mechanisms described in Appendix A of the SLA.
      (ii)  INSTINET will be available as for communication as per Appendix A on
            a 24-Hour basis.

5.2 Fault Management

      All faults relating to the Fixed Income Datafeed shall be recorded and
      tracked by INSTINET. Details of fault event and resolutions, where
      applicable, will be made available to Reuters.

5.3 Fault Escalation

      Faults in the Fixed Income Datafeed supplied by Reuters will be notified
      to Reuters via the contact mechanisms as described in Appendix A.

5.4 Planned Maintenance

      INSTINET do not have a defined maintenance window in relation to its
      receipt of the Fixed Income Datafeed. Should one subsequently be defined,
      INSTINET will inform Reuters of its definition 28 days in advance via
      e-mail as defined in the contact mechanisms in Appendix A.

5.5    Change Control

      (i)   INSTINET will agree with Reuters, 28 days in advance, any changes to
            the configuration of INSTINET supported hardware or software, which
            may affect the functions or receipt of the Fixed Income Datafeed.
            This will include network and firewall configuration changes.
      (ii)  Where a change item requires Reuters to allocate extra resource,
            INSTINET will agree a timetable and timescales for the
            implementation of the change.

                                       36
<PAGE>   37

5.6 Hardware/Software vendor support

      Reuters will be responsible for all systems up to and including the
      Reuters firewall. INSTINET are responsible for all systems within the
      INSTINET managed production system.

5.7 Business Continuity (BC)/relocation of Service

      (i)   INSTINET will agree with Reuters, 28 days in advance, any change to
            the INSTINET service configuration that may affect the supply or
            receipt of the Fixed Income Datafeed.

            For example; planned re-location of the INSTINET service to a
            business continuity installation

       (ii)  Notification of changes to the INSTINET hardware or software
             environment that may incur activation of business continuity
             measures will be made available to Reuters via a project schedule
             agreed between Reuters and INSTINET at the relevant time.
       (iii) INSTINET will include notification of Reuters as part of their
             business continuity procedures where the receipt of the Fixed
             Income Datafeed may be affected.

5.8 TIBCO table space access

      INSTINET shall not use access to the T&C's Host for any purposes other
      than operational purposes related to the subject matter of the Agreement.

                                       37
<PAGE>   38

6.0 REUTERS Service Level Commitments

6.1 Operations

      (i)   Reuters will be available for contact by INSTINET as described in
            Appendix A.
      (ii)  Reuters will contact INSTINET as described in Appendix A

6.2 Fault management

      (i)   Reuters will log, maintain and track faults in the Fixed Income
            Datafeed.
      (ii)  Reuters will manage any faults in the Fixed Income Datafeed in
            accordance with the MTC Docklands problem management procedures (see
            section 8.3 of the SLA -- Bibliography - for further details).

6.3    Fault Escalation

      (i)   Fault escalation of all errors affecting the supply or quality of
            the Fixed Income Data, once identified, will be made to INSTINET
            within 30 minutes.
      (ii)  All fault escalation will be maintained via the communication
            mechanisms defined in Appendix A.
      (iii) In the event of an ongoing problem awaiting resolution, regularity
            of updates and contacts shall be defined by Reuters and INSTINET at
            the time of the incident.

6.4 Planned Maintenance

      (i)   Reuters will not guarantee the operation of the Fixed Income
            Datafeed during the published maintenance windows as shown in
            Appendix B of the SLA.
      (ii)  Reuters will inform INSTINET of any alteration to the maintenance
            window as described in Appendix B with 28 days' notice.

6.5 Change Control

      (i)   Reuters will agree with INSTINET all configuration, installation or
            hardware changes that may affect the supply of the Fixed Income
            Datafeed 28 days in advance of the change.
      (ii)  Reuters will only apply changes as defined by the SOFID change
            management procedures (See Section 8.3 of the SLA -- Bibliography
            -- for further details).
      (iii) Changes made in response to faults will escalated as per the
            escalation mechanisms described in Appendix A

                                       38
<PAGE>   39

      (iv)  Any change not notified in accordance with the above will be
            classified as an `emergency release' which is further defined in
            Section. 8.1 of the SLA - Definitions).

6.6 Hardware/Software vendor support

      All systems used by Reuters in support of the Fixed Income Datafeed will
      be included within established Reuters vendor support agreements.

6.7 Business continuity/relocation of service

      (i)   In the event of Reuters activating business continuity measures,
            Reuters will inform INSTINET of any consequential alteration of the
            Fixed Income Data feed.
      (ii)  Reuters will use its reasonable endeavours to re-locate the T&C's
            Host to its business continuity environment within the time
            constraints defined in the Key Product Quality Parameters (KPQP)
            statement (See Section 8.3 of the SLA -- Bibliography -- for further
            details).
      (iii) Reuters will include notification of INSTINET as part of its
            business continuity procedures where the delivery of the Fixed
            Income Data is affected.

7.0 SLA Administration

      This SLA is administered jointly by INSTINET and Reuters Quality Systems
      Group at GTC-L Docklands (the "Quality Systems Group"). Both parties are
      responsible for facilitating future reviews and amendments to the SLA. The
      Quality Systems Group shall manage updating and distribution of this
      document during it's life cycle.

      The SLA will be subject to audit and review at YEARLY intervals as a
      minimum by the Quality Representatives of both parties. Any amendments
      will be subject to mutual agreement between Reuters and INSTINET and will
      be recorded in accordance with Clause 8 of the Agreement..

      Non-compliance or details of other deficiencies noted during the operation
      of this SLA should be sent by e-mail to the following generic account held
      by the Quality Systems Group:

      Teamlinks Account: SLA_ADMIN

      A record of all non-compliance matters and other deficiencies will be
      maintained by the Quality Systems Group and will be carried forward for
      discussion at the SLA management review described in Section 4.1 of the
      SLA.

                                       39
<PAGE>   40

8.0 References

8.1 Definitions

(i)   Emergency Release

      An EMERGENCY RELEASE is one which it may be necessary to issue and install
      without complying with some, or all, of the normal requirements or
      controls applied to routine planned releases. It must be authorised by
      both a INSTINET technical manager and by Reuters senior operations
      management.

      An EMERGENCY RELEASE may for example be necessary to overcome or correct
      existing or potential service degradation, or to address a serious
      business threatening situation.

      Notwithstanding the above, any EMERGENCY RELEASE must be supplied with
      adequate information or documentation to enable Operations to safely
      install the release without further jeopardising any aspect of the Fixed
      Income Datafeed. Once an EMERGENCY RELEASE has been applied, all normally
      required documentation that may be outstanding must be completed and
      supplied to Operations within FIVE working days.

8.2 Glossary

     GTC-G      Global Technical Centre Geneva
     GTC-L      Global Technical Centre London
     SOFID      Service Operations Financial Information
                Databases
     SSHD       GTC Service Support Help Desk

                                       40

<PAGE>   41

8.3 Bibliography

      All documentation pertaining to the SLA is available from the QMS Intranet
      website;

      REFERENCE:
      "The GTC-L Technical operation Quality Management System"

      Where the following referenced documents will be available;

Document Title                                Reference
SOFID change management procedure             FID/PROC/022
MTC Docklands Service Operations FID          FID/PROC/004
Problem Management Procedures
GTC-L Docklands Document Control Procedure    GTCL_QMS/PROC/OO1

      The KPQP statement pertaining to the SLA is available from the website
      http://www.ri.ime.reuters.com/fixedincome/instinet

Document Title                               Reference
Key Product Quality Parameters               Refer to web page

8.4 Distribution List

      Reuters

      Rob Wallace
      Richard Dixey
      Adrian Whear
      Mark Sanwell
      GTC-L Shift Managers
      Tony Cutting

      INSTINET

      Andrew Rieger
      Rachel Moseley
      Mike Fogarty
      Bob Sillars

                                       41
<PAGE>   42

9.0 Appendices

      Appendix A: Communication mechanisms

      (i)   Reuters Operational Contacts (24 Hour)

            All calls to Reuters GTC-L will be initiated through the service
            support help desk (SSHD). Escalation to other Reuters groups will be
            advised accordingly.

            SERVICE SUPPORT HELP DESK Tel: +44 171 542 2777

            The management escalation point for access to SSHD

            GTC-L Shift Managers Tel +44 171 542 6665

            In the event of escalation from the SSHD to SOFID the following
            contact number will be used;

            SOFID CONTROL Tel: +44 171 542 5234

            All e-mail contact should be made via the following account

            Teamlinks account: SSHD

                                       42
<PAGE>   43

      (ii)  INSTINET operational contacts (24 Hour)

            The following numbers are the prime initial contact points for
            INSTINET

            System Operations            +001 201-305-6701
            Network Operations           +001 201-305-6700

            The following management escalation contacts will be made via one of
            the above quoted Operations contact numbers;

            Tyrone Johnson      Manager Systems Operations,
            Michael Fogarty     Director Systems & Network Operations
            Kaz Timur           VP Operations & Support

            All e-mail contact should be made via the following account

            Lotus notes accounts;

            NFC CSS NETWORK
            SYSTEMS OPERATIONS

      Appendix B: Maintenance Window.

      (i)   The systems used to support the T&C's feed are subject to the
            following maintenance period

            Sat 16:OOHrs GMT to Sun 20:00 GMT

      (ii)  Product Support Matrix

            All fault escalation to the groups specified below will be made
            via/by the SSHD, or SOFID control

Component                                            Support Group   Coverage

Pathfinder III                                        SOFID -- I&S       24*7
Terms and Conditions system, system management        SOFID -- TSG       24*7
Terms and Conditions system, database administration  SOFID -- DBA       24*7
Infrastructure (non-HPSNng)                           PEG                24*7
Infrastructure HPSNng                                 RTI                24*7

                                       43
<PAGE>   44

Appendix C: Overview of the Fixed Income Data Delivery Environment

      As stated in the Systems/Services section of the SLA the delivery of the
      Fixed Income Data utilises the following systems:

      The Fixed Income Datafeed
      The T&C's Host
      The Reuters-side firewall platform

      The relationship between these systems is shown in the following diagram

        Reuters Production
        Environment (Reference
        database, RDB)
                |
                |
  The Terms and Conditions Host
       (INST_TCL London &
        INST_TCG, Geneva)
                |
                |
         Firewall System
                |
                |                Reuters Managed
                |                 Environement
   ----------------------------------------------
                |               INSTINET Managed
                |                 Environment
                |
                |
             INSTINET
            Production
            Environment

                                       44
<PAGE>   45

10.0 Revision History

ISSUE    DATE      REASON FOR ISSUE                  AUTHORISED
 NO      ISSUED

 .001     22/04/99  DRAFT FOR COMMENT
 0.1     08/06/99  Final draft including revisions.
 0.2     28/06/99  Revise draft 0.1
 0.3     01/07/99  Revision of draft 0.2
 1.0     16/08/99  First formal Issue
 1.1     22/09/99  Revisions incorporated from formal review

                                       45
<PAGE>   46

                                   SCHEDULE 4

                                TRADED PRICE DATA

Instinet will provide traded price data to Reuters for those asset classes in
respect of which Reuters has provided Instinet with Fixed Income Data and as
further provided in this Schedule:

Part 1

Last traded price for the following asset classes:

o   Euro denominated government debt; and
o   US Treasuries

With effect from the date of Agreement the last traded price data initially
supplied by Instinet will be for all the above fixed income instruments actively
brokered through the Fixed Income Service.

Because all prices in the Fixed Income Service are live, the last traded price
data supplied for the above asset classes will be a feed of the actual traded
prices -- ie. no 'indicative', co-mingled or selective data will be supplied by
Instinet. The last traded price data will include both cash quotes and basis
quotes (where these are part of the Fixed Income Service).

Initially, the last traded price data supplied through the Traded Price Datafeed
will be delayed by Instinet for five (5) minutes prior to publishing over
Reuters pages. However, the length of delay will be subject to review, and
possible improvement, on the six month anniversary of this data becoming
available over Reuters pages.

It is acknowledged by Reuters that Subscriber sensitivity over new types of
assets added by Instinet to the Fixed Income Service over time, such as credit
products, may result in different embargoes being imposed by Instinet on the
release of individual items of last traded price data.

It is understood by both parties that it is the intention of Instinet to provide
Reuters with progressively greater breadth and depth and shorter time delays in
respect of the last traded price data and that it is Instinet's objective in due
course to provide Reuters with full asset coverage in real-time for last traded
prices. Notwithstanding the foregoing, Reuters acknowledges that the release
over Reuters pages of any last traded price data for new asset classes and/or in
greater depth and/or subject to a shorter time delay than that provided for at
the date of this Agreement will in each case be subject to the written consent
of Instinet.

Part 2

Daily closing price for the following asset classes:

                                       46
<PAGE>   47

o     Euro denominated government debt; and
o     US Treasuries

The delivery times for this data are expected to be 6.OOpm in London and 2.OOpm
NY. Instinet will inform Reuters should this change.

No delay is required before this data may be published over Reuters pages.

It is understood by both parties that it is the intention of Instinet to provide
Reuters with progressively greater breadth and depth in respect of the daily
closing price data and that it is Instinet's objective in due course to provide
Reuters with full asset coverage in relation to such data. Notwithstanding the
foregoing, Reuters acknowledges that the release over Reuters pages of any daily
closing price data for new asset classes and/or in greater depth than that
provided for at the date of this Agreement will in each case be subject to the
written consent of Instinet.

                                   47
<PAGE>   48

[LOGO] REUTERS

August 1, 2000

Instinet Corporation
875 Third Avenue
New York
New York 10022
United States

For the attention of Peter Fenichel

Dear Sirs,

Fixed Income Data Agreement

With reference to the Fixed Income Data Agreement (the Agreement)
entered into between Instinet Corporation (Instinet) and Reuters
Limited (Reuters) commencing on 1 October 1999, this letter records
certain amendments to the Agreement and should be read in conjunction
with the Agreement. In the event of any inconsistency between this
letter and the Agreement, the provisions of this letter will prevail.
Capitalised terms are defined either in the Agreement or in this
letter. Except as expressly set out in this letter, the Agreement
remains unamended and in full force and effect.

In consideration of the mutual agreements set out in this letter, the
terms of the Agreement are amended as follows:

Clause 6.2: this clause is deleted and replaced with the following:

      "As soon as is practicable, Instinet will commence delivery of the Traded
      Price Data to Reuters subject to the embargoes described in Schedule 4.
      Representatives of Reuters and Instinet will meet at regular intervals
      commencing in September 2000 to discuss and agree the specific date on
      which instinet will release the Traded Price Data to Reuters for inclusion
      in Reuters Services."

Schedule 2: Schedule 2 is deleted and replaced in its entirety by the new
Schedule 2 attached to this letter.

<PAGE>   49

Please indicate your acceptance of the above by signing and returning the
attached copy of this letter to us. The terms of this letter will become legally
binding as soon as we receive your signed counterpart.

Yours faithfully,

/s/ William Goldy
-----------------------------
Bill Goldy
Director, Core Business
Reuters Limited

-----------------------------            --------------------------------
signed for and on behalf of              date
Instinet Corporation

<PAGE>   50

                                   SCHEDULE 2

                                FIXED INCOME DATA

                       ASSET CLASSES REQUIRED BY INSTINET

PART 1

Subject to the terms of the Agreement, with effect from the date of the
Agreement Reuters will provide Instinet with Fixed Income Data in relation to
the following asset classes:

Governments*:

o     All US Treasuries

o     All Euro denominated Government debt issued in the 11 converting
      countries: Austria, Belgium, Finland, France, Germany, Ireland, Italy,
      Luxembourg, Netherlands, Portugal, Spain.

PART 2

Subject to the terms of the Agreement, Reuters will use its reasonable
endeavours to provide Instinet with Fixed Income Data for at least the following
asset classes by dates to be agreed between Reuters and Instinet in accordance
with the priorities set out below:

(i)   Primary

o     Jumbo Pfandbriefe

o     US Agencies

o     US Corporates

o     UK Governments - Gilts

o     Eurobonds (both US Dollar and Euro denominated and any other currencies
      available to Reuters.

(ii)  Secondary

o     Futures

o     Governments:

      Japan (JGBs)

<PAGE>   51

      Norway
      Denmark
      Finland
      Switzerland
      Canada

o     Agencies:

      Canada
      Euro-denominated

o     Supranationals:

      US
      Euro-denominated

o     Canadian Provinces

The list of asset classes in Part 2 of this Schedule is not intended to be
exhaustive and may be supplemented from time to time by agreement between the
parties.

* Note: Governments comprise all applicable issued instruments for the relevant
country such as coupons, zeros, strips, index linked and bills.<PAGE>   1

                            REUTERS GLOBAL AGREEMENT

                             DATED 21 December 2000

                        GLOBAL REUTERS SERVICES CONTRACT

                                     BETWEEN

                                 REUTERS LIMITED

                                       AND

                         INSTINET GLOBAL HOLDINGS, INC.

                        Commencement Date: 1 October 2000

[LOGO] REUTERS

<PAGE>   2

                        GLOBAL REUTERS SERVICES CONTRACT

                                    CONTENTS
                                                                        PAGE NO
GLOSSARY ...................................................................   1
INTERPRETATION .............................................................   6
1      COMMENCEMENT AND TERM ...............................................   7
2      SCOPE OF THE AGREEMENT ..............................................   7
3      CHARGES .............................................................   8
4      DISCOUNT ............................................................  12
5      AUTHORISED CANCELLATIONS ............................................  15
6      ADDITIONS AND DELETIONS OF SITES AND RECIPIENT LOCATIONS ............  19
7      TERMINATION AND OTHER REMEDIES ......................................  20
8      UNAUTHORISED CANCELLATIONS AND TERMINATION
       - CONSEQUENCES ......................................................  23
9      LIABILITY ...........................................................  24
10     CONFIDENTIALITY .....................................................  26
11     GENERAL .............................................................  27
12     ENTIRE AGREEMENT - REUTERS BUSINESS PRINCIPLES ......................  28

SCHEDULE A: SERVICES AND SERVICE FEES AT COMMENCEMENT DATE BY SITE
AND RECIPIENT LOCATION ....................................................
SCHEDULE B: SITES AND RECIPIENT LOCATIONS COVERED
BY THE AGREEMENT ..........................................................
SCHEDULE C: NON-REUTERS GROUP COMPANIES ...................................
SCHEDULE D: DISCOUNT BANDS ................................................

<PAGE>   3

                        GLOBAL REUTERS SERVICES CONTRACT

THIS AGREEMENT is made on 21 December 2000 between us, REUTERS LIMITED of 85
Fleet Street, London, EC4P 4AJ, England and you, INSTINET GLOBAL HOLDINGS, INC.
of 875 Third Avenue, New York, New York 10022, USA.

WHEREAS we have a mutual interest in establishing a strategic relationship on a
global basis and have therefore agreed to enter into the Agreement.

We both agree:

GLOSSARY

All defined terms in this Contract are in italics for your convenience.

In the Contract, the following terms have the following meanings:

Access Declaration*  - any schedule that we ask you to complete, which sets out
                       the number of all Interactive Accesses and Slave Displays
                       authorised or allowed to view Information via Your
                       System over the period specified by us. We will use your
                       Access Declarations as part of our calculation of the
                       number of such Interactive Accesses and Slave Displays
                       when we invoice you for the Services supplied to you. The
                       Access Declaration can be provided in hard copy,
                       electronic or any other relevant form, as specified by
                       us;

Access Fees*         - that part of the Service Fees directly relating to
                       Interactive Accesses and Slave Displays for Datafeed
                       Services (other than specialist data Services) at your
                       Sites and Recipient Locations and those of any of your
                       Subsidiaries;

Agreed Level         - the percentage change in the following most recently
                       published indices, compared with the relevant index
                       published 12 months earlier:

                        (i)   for any Service Fees denominated in currencies of
                              OECD member countries, the OECD All Items

                                        1
<PAGE>   4

                              Rate of Change index for the country which issues
                              the relevant currency;

                        (ii)  for the Service Fees in Bahrain, Jordan. Kuwait,
                              Oman, Qatar. the Kingdom of Saudi Arabia, Yemen
                              and United Arab Emirates, the OECD All Items Rate
                              of Change index for the United States of America;
                              and

                        (iii) for the Service Fees denominated in any other
                              currency, the relevant official government
                              consumer price index, failing which the most
                              relevant official index, as reasonably determined
                              by us;

Agreement            - this Contract, the Reuters Business Principles, any
                       applicable Order Form or Access Declaration and any
                       schedules referred to in these documents;

Annual Reassessment
Date                 - the first day of October in each calendar year;

Charges              - the Service Fees and any related charges specified in
                       Clause 3.1 (a) to (e);

Commencement Date      1 October 2000

Company              - a legal entity with an issued share capital, validly
                       incorporated in its country of incorporation;

Contract             - this document, including its Schedules, as amended or
                       supplemented under Clause 12.5;

Conversion Rates     - the currency exchange rates used by us to
                       convert other currencies into United States Dollars,
                       as published by the Financial Times in its table
                       entitled "FT Guide to World Currencies";

                                        2
<PAGE>   5

Datafeed Service*    - any Service supplied by means of digital delivery to
                       Your System;

DDE                  - the Microsoft (R) Dynamic Data Exchange interface;

Discount Adjustment
Date                 - the first day of June in each calendar year;

Discount Rate        - the percentage rate of discount established from time to
                       time in accordance with Clause 4.2;

Discountable Service
Fees                 - the Service Fees which will be discounted in
                       accordance with Clause 4.1;

Dollar Service Fees  - the Service Fees (excluding Service Fees for specialist
                       data Services and Test Products) expressed in United
                       States Dollars;

ex-Site              - a location which has ceased to be a Site in the
                       circumstances set out in Clause 6.5;

Information          - the information (in whatever form, including images,
                       still and moving, and sound recordings) contained in the
                       Services;

Information Provider - a client of ours or other third party, including any
                       stock. futures or commodities exchange, whose Information
                       is contained in the Services;

Interactive Access*  - the capacity of an individual authorised or
                       allowed by you to access and control the display
                       of Information by any means including, without
                       limitation, a password. an identifier, a keyboard
                       or other control device;

Maintenance          - a sub-set of Support which includes the use of reasonable
                       efforts by us or our nominee to maintain the Materials in
                       good operating condition and/or to restore the Service by
                       repairing, correcting or replacing the Materials;

                                        3
<PAGE>   6

Materials            - hardware and/or Software and related documentation
                       supplied by us;

OECD                 - Organisation for Economic Co-operation and
                       Development;

Order Form           - our standard local order form or schedule (whether in
                       written or electronic form) listing the Services ordered
                       by you at the relevant Site and accepted by us under
                       the Agreement;

Quarter Date         - the first day of the months of January, April, July and
                       October in each calendar year;

Recipient Location*  - any of your offices or any of the offices of a Subsidiary
                       of yours, in both cases other than the Site, receiving
                       Information under paragraph 2.2 of the Reuters Business
                       Principles;

Reuters Business     - the document which sets out the conditions which apply
Principles             to the supply and use of the Services as amended by
                       us from time to time in accordance with Clause 12.4;

Reuters Group        - Reuters Group PLC and any of its Subsidiaries;

Service(s)           - the services supplied by us under the Agreement which
                       include the provision of Information and/or Materials and
                       Support;

Service Fees         - the fees determined and charged by us for the supply of
                       the Services (including fees charged by us for specialist
                       data Services);

Service Fees
Adjustment Allowance - the amount by which you may reduce the Service Fees in
                       any calendar year as calculated in accordance with Clause
                       5.1;

                                        4
<PAGE>   7

Site(s)              - any location of yours or any of your Subsidiaries
                       to which the Services are supplied directly by us
                       as specified in Schedule B (as updated from time
                       to time in accordance with Clause 6.9);

Slave Display*       - a view-only display without the ability to request and
                       control access to Information;

Software             - software or any part of it and related documentation,
                       whether it is an ancillary part of a Service and enables
                       such Service to be used, or whether the rental of such
                       software itself constitutes the Service. Software also
                       includes upgrades and enhancements;

Subsidiary           - a Company in which another Company owns directly or
                       indirectly more than 50% of the issued share capital and
                       over which it exercises effective control;

Support              - Maintenance and other support provided by us or our
                       nominee as specified in the Support section of the
                       Reuters Business Principles;

System*              - any system that is used to access and display data that
                       may include Information;

Test Products*       - a Reuters Terminal with open DDE or a Datafeed Service
                       supplied by us for testing purposes in order to enable
                       you to develop your own applications capable of using
                       Information (e.g. RT Testplus, Testserver or Testfeed
                       Plus);

Your System*         - any System used by you where we do not control the
                       number of Interactive Accesses and Slave Displays of
                       such data.

                                        5
<PAGE>   8

INTERPRETATION

"We" "You"

Except where used in expressions such as "both of us", "each of us", "either of
us', "our respective" (in which case the Agreement refers to both you and us).
references in the Agreement to "we", "our" or "us" are references to Reuters
Limited or, where in the Agreement the context requires, the Company to which
the rights and obligations of Reuters Limited are assigned under Clause 2 of the
Contract, or, in the case of Clause 2.8, Reuters Services SA.

References in the Agreement to "you" or "your" are references to Instinet Global
Holdings, Inc. and/or, wherever in the Agreement the context so requires, any of
its Subsidiaries to which Services are supplied under the Agreement.

Reuters Business Principles

(a)   The Reuters Business Principles form part of the Agreement. However, you
      recognise that, to the extent that any services referred to in the Reuters
      Business Principles are not eligible for inclusion in the Agreement (see
      Clause 2.3), references to such services in the Reuters Business
      Principles do not form part of the Agreement,

(b)   The version of the Reuters Business Principles which is current at the
      date of this Contract, and which forms part of the Agreement, is Version
      1.1 - Reuters Global Agreement Version. References in the Contract to
      specific paragraphs of the Reuters Business Principles are references to
      paragraphs of that version. However, paragraphs may be re-numbered where
      the Reuters Business Principles are amended from time to time in
      accordance with Clause 12.4;

(c)   You may at any Site or Recipient Location request a copy of any local
      version of the Reuters Business Principles, or a version in a language
      other than English, but any such copy will be for information only.

(d)   We use certain terms in this Contract whose core definition is in the
      Reuters Business Principles. For your convenience, we have reproduced
      those terms in the Glossary as they are defined in Version 1.1 - Reuters
      Global Agreement Version of the Reuters Business Principles. There are
      certain other terms which are defined in

                                        6
<PAGE>   9

      the Reuters Business Principles whose definition in this Contract is
      slightly different in order to conform with the other terms of the
      Agreement. All the terms referred to in this paragraph (d) may be subject
      to change from time to time in accordance with Clause 12.4 and they are
      indicated in the Glossary by a "*" symbol.

1. COMMENCEMENT AND TERM

1.1   The Agreement will take effect on the Commencement Date and will continue
      for as long as you receive Services, subject to Clause 1.2 below and to
      the other cancellation and termination provisions of the Agreement.

1.2   Either of us may terminate the entire Agreement at any time by giving the
      other not less than 24 months' notice in writing, expiring on the day
      before any Quarter Date. Only one notice of termination under this Clause
      1.2 can be in effect at any one time. A new notice of termination will
      only be valid if an unexpired notice has already been withdrawn in
      writing.

2. SCOPE OF THE AGREEMENT

2.1   We will supply the Services to you (and to your Subsidiaries) at the Sites
      and you will pay the Charges and use the Services in accordance with the
      Agreement.

2.2   The Service(s) at the Commencement Date for each of your Sites and
      Recipient Locations and those of your Subsidiaries are set out in Schedule
      A. After that date, additional Services will be specified in the relevant
      Order Forms and/or related schedules.

2.3   For your information we will provide to you a list of our principal
      services which are eligible and those which are not eligible for inclusion
      in the Agreement as at the Commencement Date, and an updated list to you
      on 1 July in each year, and to each Site on reasonable request from time
      to time. Our rights to withdraw Services are set out in Clause 7.

2.4    Schedule B contains a list of all your Sites and Recipient Locations and
       those of your Subsidiaries as at the Commencement Date. You represent and
       warrant that, as at the date of the Agreement, Schedule B is complete and
       correct and that the Companies listed in Schedule B are your
       Subsidiaries.

2.5    (1)  Where the Services are supplied to a Subsidiary of yours, you will
            ensure that such Subsidiary is aware of the terms of the Agreement
            and complies with such terms in respect of the relevant Site.

                                        7
<PAGE>   10

      (2)   In the event of a material breach of the Agreement by any Subsidiary
            of yours. we will inform you in writing of such breach as soon as is
            reasonably practicable but this provision will not affect any of our
            rights or remedies in respect of such breach under the Agreement.

2.6   Subject to Clause 2.7, the Services will be supplied to you either by us,
      or, where the Reuters services covered by the Agreement are supplied by a
      Subsidiary of ours in the relevant country or area, by that Subsidiary.
      You agree that our rights and obligations under the Agreement with respect
      to the supply of the Services in any such country or area will be assigned
      to that Subsidiary from the Commencement Date or, where appropriate, from
      the later date on which such Subsidiary starts supplying Services to you,
      and you agree to such assignment. We will ensure and continue to ensure
      that such Subsidiary is aware of the terms of the Agreement and will
      comply with such terms in the relevant country or area from that date. We
      will provide to you a list of our Subsidiaries supplying the Services at
      the Sites on your reasonable request.

2.7   Where any Site is located in one of the countries or areas listed in
      Schedule C, the Services will be supplied to you by a non-Reuters Group
      Company as indicated in Schedule C, and our rights and obligations under
      the Agreement will be assigned to such Company with respect to the supply
      of the Services in that country or area and you agree to such assignment.
      We will ensure that such Company is aware of the terms of the Agreement,
      and will use reasonable endeavours to ensure that such Company complies
      with such terms. We may at any time by notice in writing add to, delete
      from or otherwise amend the contents of Schedule C.

2.8   The Services (other than those specified in the next sentence) supplied at
      any Site located in France are provided through our branch Agence Reuter,
      as agent for our Subsidiary Reuters Services SA, and we will ensure that
      Reuters Services SA will comply with the terms of its obligations under
      the Agreement in respect of such Services. We will however supply news
      retrieval Services and stock and commodity quotation retrieval Services
      directly through our branch Agence Reuter.

3.    CHARGES

3.1   You will pay the Service Fees (subject to discount in accordance with
      Clause 4) and the following related charges (where applicable) at each
      Site and Recipient Location:

      (a)   installation, relocation and removal charges;

                                       8
<PAGE>   11

      (b)   charges for Support not specifically covered by the Service Fees
            under the Agreement;

      (c)   charges for communications facilities;

      (d)   charges for Information, Software and/or other services provided by
            certain Information Providers and other third parties; and

      (e)   all applicable taxes and duties (including withholding tax but
            excluding income taxes imposed on the income of the Reuters Group)
            payable in respect of the Services, so that after payment of such
            taxes and duties the amount received by us is not less than the
            Service Fees (subject to any applicable discount under Clause 4).

3.2   The Service Fees at the Commencement Date for each of your Sites and
      Recipient Locations and those of your Subsidiaries are set out in Schedule
      A. After that date, the Service Fees for additional Services or those
      relating to additional Interactive Accesses or Slave Displays will be as
      specified in the relevant Order Forms and/or based on Access Declarations
      and/or related schedules.

3.3   The total annual Dollar Service Fees at the Commencement Date are
      US$13,437,598 (based on our current list price for the Services in the
      country where each Site and Recipient Location is located). For the
      purpose of calculating such Dollar Service Fees, any amounts in currencies
      other than United States Dollars have been converted into United States
      Dollars at the Conversion Rates published on 27 October 2000.

3.4   After the Commencement Date the Service Fees for new or additional
      Services or those relating to new or additional Interactive Accesses and
      Slave Displays. whether at the same or at any other Sites or Recipient
      Locations (including Services supplied at Sites or Recipient Locations at
      the time of their inclusion in the Agreement under Clause 6.1), will be at
      our then current list price for the relevant country.

3.5   The Service Fees for each Service are payable at the relevant Site or
      Recipient Location from the Commencement Date or, if later, from the date
      that Service is first made available to you at that Site or Recipient
      Location.

3.6   The Service Fees will be invoiced to you at each Site or Recipient
      Location quarterly in advance on each of the Quarter Dates, or otherwise
      in accordance with our standard invoicing practice in the relevant
      country, as agreed between us. Where a Service is first made available to
      you after the Commencement Date on a date other than a Quarter Date, the
      first quarterly Service Fees will be invoiced pro rata for the period from
      that date to the next Quarter Date.

                                       9
<PAGE>   12

3.7   We will invoice you Access Fees for each quarter (or other relevant
      billing period) on the basis of the number of Interactive Accesses or
      Slave Displays actually declared in your Access Declaration for the
      previous quarter, subject to Clauses 5.4 and 8.2 and to the provisions of
      paragraph 2.2.3 of the Reuters Business Principles.

3.8   (a)   The Service Fees will be invoiced and payable in the currencies
            shown in Schedule A and subsequently in Order Forms for the relevant
            Sites or Recipient Locations except that, for Services supplied or
            made available to Sites or Recipient Locations located in:

            (i)   India: the Service Fees will be invoiced in Indian Rupees at
                  the Foreign Exchange Dealers' Association of India's
                  Rupee/United States Dollar exchange rate, prevailing on the
                  invoice date of the appropriate Quarter Date; and

            (ii)  Brazil: the Service Fees will be invoiced in Brazilian Reals
                  at the Banco Central do Brazil Official Commercial Rate for
                  the Real/United States Dollar exchange rate on the invoice
                  date.

      (b)   The adoption of the Euro as a lawful currency by any Member State of
            the European Union or by any other country is referred to in this
            Clause 3.8 as a "Euro Event";

      (c)   Where a Euro Event occurs in a country we shall be entitled to elect
            that all contractual obligations under the Agreement in such country
            (or in other countries where we invoice you at the time in the
            national currency of such country), be converted from the existing
            contractual currency to the Euro. Any such election is referred to
            in this Clause 3.8 as a "Currency Change";

      (d)   We shall give you not less than 30 days' notice of a Currency
            Change;

      (e)   In the case of a Currency Change,

            (i)   the relevant index for the purpose of the definition of the
                  "Agreed Level" will become, as soon as it is available, the
                  OECD All Items Rate of Change index for that country based on
                  the Euro, failing which the relevant official government
                  consumer price index to the extent that it is based on the
                  Euro;

            (ii)  the relevant index for the purpose of discount reassessment in
                  Clause 4.7 will become, as soon as is available, the OECD All
                  Items Total (excluding high inflation) Index using the Euro in
                  countries where a Euro Event has occurred;

                                       10
<PAGE>   13

            (iii) if, in any country where a Euro Event has occurred. you remain
                  entitled by law to fulfil your contractual obligations under
                  the Agreement in the alternative lawful national currency
                  despite our Currency Change, we reserve the right to invoice
                  you in respect of any costs we may incur in converting Charges
                  paid by you in that currency into the Euro.

3.9   If necessary, you agree to obtain or co-operate with us in obtaining any
      consent required to enable you to pay the Service Fees in the currencies
      in which they are invoiced in accordance with Clause 3.8.

3.10  You will pay all Charges and other amounts owed by you under the Agreement
      within 30 days of the date of the invoice.

3.11  We may once a year by notice in writing adjust, or change the basis of
      calculation of, the Service Fees in respect of any Site or Recipient
      Location with effect from 1 January in the following calendar year. We
      will give notice of such adjustment or change to each affected Site or
      Recipient Location no later than 15 days after the relevant Annual
      Reassessment Date. The Service Fees for any Service at a Site or Recipient
      Location will not exceed our list price for that Service in the relevant
      country for the calendar year following such notification. If the
      resulting percentage increase in the total Service Fees payable in respect
      of all the Services supplied at a single Site or made available to a
      single Recipient Location (other than specialist data Services) is greater
      than the Agreed Level at the date of notification, you may by notice in
      writing within 30 days of the date of our notice cancel any Service or
      reduce any access at the relevant Site or Recipient Location whose Service
      Fees have increased by a percentage greater than the Agreed Level. Such
      cancellation or reduction will take effect on the date the increase in the
      Service Fees becomes effective.

3.12  We will endeavour to provide reasonable notice of any change to the
      related charges referred to in Clause 3.1(a) to (e) but you agree that
      they may change without notice if a change is imposed on us by any third
      party. You recognise in particular that adjustments to, or to the basis of
      calculation of, Charges referred to in Clause 3.1(d) and the Service Fees
      for specialist data Services may have to be made (where the same
      adjustment is imposed by the relevant Information Provider on us), on
      dates other than those set out in Clause 3.11. Notwithstanding the above,
      we will provide notice of any change in the charges for specialist data
      Services imposed on us by an Information Provider promptly after our
      receipt of notice of such change from such Information Provider and you
      will be entitled to terminate the affected specialist data Service
      effective 90 days after our delivery of such notice.

                                       11
<PAGE>   14

3.13  (a)   In addition to our rights under Clause 3.11, we may adjust the
            Service Fees at any time on 90 days' notice in writing, if and only
            to the extent that:

            (i)   we are required to pay to any governmental, quasi-governmental
                  or regulatory authority or agency any fee or levy calculated
                  by reference to and directly related to all or part of the
                  Service Fees (not being taxes or duties referred to in Clause
                  3.1(e)); or

            (ii)  the amount of any such fee or levy is increased.

      (b)   You acknowledge and accept that:

            (i)   any increase in accordance with Clause 3.13(a) may be made on
                  dates other than those set out in Clause 3.11; and

            (ii)  the resulting increase in the Service Fees due to the
                  operation of Clause 3.13(a) in any year may be greater than
                  the Agreed Level and, if so, you will not have the right under
                  Clause 3.11 to cancel any Services whose Service Fees have
                  increased by a percentage greater than the Agreed Level.

3.14  Where any Service or part of a Service is terminated, cancelled or
      withdrawn in any of the circumstances listed in Clause 5.5(b) we will
      promptly credit you the Service Fees paid in advance against payment of
      the Service Fees for the other Services supplied under the Agreement.

4.    DISCOUNT

4.1   The Service Fees will be discounted in accordance with this Clause 4,
      except for Service Fees payable in respect of:

      (a)   specialist data Services;

      (b)   Test Products;

      (c)   any services which become eligible for inclusion in the Agreement
            after the Commencement Date, to the extent that we notify you that
            the relevant Service Fees will not be discountable to any client of
            ours who is subject to terms that are identical or substantially
            similar to the terms of the Agreement; and

      (d)   any Services to the extent that we notify you on at least 6 months'
            notice in writing that with effect from 1 January in the following
            calendar year, the relevant Service Fees will no longer be
            discountable for any of our clients

                                       12
<PAGE>   15

            who subscribe to services under our global agreement scheme: you may
            by notice in writing cancel any such Service with effect from the
            date on which the Service Fees cease to be discounted.

4.2   The Discount Rate is established by reference to:

      (a)   the bands set out in Schedule D, as amended from time to time under
            Clause 4.7; and (subject to Clause 4.8)

      (b)   (i)   the total annual Dollar Service Fees at the Commencement Date
                  as set out in Clause 3.3;

            (ii)  the total annual Dollar Service Fees at each Annual
                  Reassessment Date; and

            (iii) the total annual Dollar Service Fees at each Discount
                  Adjustment Date where this amount has increased or decreased
                  by 20% or more, compared with the total annual Dollar Service
                  Fees at the Commencement Date or the most recent Annual
                  Reassessment Date whichever is the later.

4.3   For the purpose of calculating the Dollar Service Fees any amounts in
      currencies other than United States Dollars will be converted into United
      States Dollars at the Conversion Rates

      (a)   published on the Monday (being a business day in the United Kingdom)
            immediately preceding that Annual Reassessment Date (in the case of
            Clause 4.2(b)(ii)); and

      (b)   used on the most recent Annual Reassessment Date (in the case of
            Clause 4.2(b)(iii)).

4.4   The Discount Rate established under Clause 4.2(b)(iii) at any Discount
      Adjustment Date will apply to the Discountable Service Fees payable from 1
      July to 31 December in that year. Subject to this, the Discount Rate
      established under Clause 4.2

      (a)   at the Commencement Date will apply to the Discountable Service Fees
            payable from 1 January 2001 to the end of that calendar year;

      (b)   at each Annual Reassessment Date will apply to the Discountable
            Service Fees payable for the following calendar year.

4.5   In accordance with Clauses 4.2, 4.3 and 4.4, the Discount Rate which
      applies to the Discountable Service Fees from the Commencement Date and
      for 2001 is 16.8%.

                                       13
<PAGE>   16

4.6   The Discount Rate will be applied at each Site or Recipient Location to
      the Discountable Service Fees payable at that Site or Recipient Location.

4.7   We may once a year after the Annual Reassessment Date increase the
      threshold levels of the discount bands specified in Schedule D, to be used
      for any recalculation of the Discount Rate in accordance with Clause 4.2
      in the following calendar year. Any such increase will be by an amount
      equal to the percentage increase in the OECD All Items Total (excluding
      high inflation) index most recently published before the Annual
      Reassessment Date compared with that index published 12 months earlier;
      except that we may increase the threshold levels by an amount in excess of
      the increase in that index, in which case you may give 12 months' notice
      to terminate the Agreement.

4.8   We reserve the right to revise the calculation of the total annual Dollar
      Service Fees calculated as at any Annual Reassessment Date or Discount
      Adjustment Date if you place an order for the supply of additional
      Services before such date and cancel such order before we make the
      relevant Services available to you.

4.9   (a)   If:

            (i)   at any Quarter Date (the "Disqualifying Date") the annual
                  Dollar Service Fees (before any discounts are calculated) for
                  any reason have fallen below the threshold level of the lowest
                  discount band set out in Schedule D as amended from time to
                  time in accordance with Clause 4.7 (the "Threshold Lever)
                  which is then current; and

            (ii)  the annual Dollar Service Fees remain below that level on the
                  Quarter Date following the Disqualifying Date

                  then Clause 4.9(b) and (c) will apply;

      (b)   with effect from the Quarter Date referred to in Clause 4.9(a)(ii)
            the Discountable Service Fees will not be discounted in accordance
            with this Clause 4;

      (c)   we will serve a notice within 30 days of the Quarter Date following
            the Disqualifying Date to terminate the Agreement, in accordance
            with Clause 1.2, except that the Agreement will terminate 24 months
            after the Disqualifying Date unless Clause 4.9(d) applies;

      (d)   if at any time (the "Requalifying Date") the annual Dollar Service
            Fees subsequently increase above the Threshold Level which is then
            current and continuously remain above the current level until the
            second Quarter Date

                                       14
<PAGE>   17

            after the Requalifying Date then with effect from that Quarter Date

            (i)   the Discountable Service Fees will be discounted in accordance
                  with this Clause 4, and

            (ii)  the notice of termination under Clause 4.9(c) will be
                  withdrawn;

      (e)   For the purposes of measuring the Dollar Service Fees against the
            Threshold Level under Clauses 4.9(a) and (d). any amounts in
            currencies other than United States dollars will be converted into
            United States dollars using the Conversion Rates used at the
            Commencement Date or the most recent Annual Reassessment Date as
            appropriate.

4.10  As soon as reasonably practicable after each Annual Reassessment Date (or
      Discount Adjustment Date if appropriate), we will provide you with:

      (a)   documentation for information purposes which will reflect the
            monthly Service Fees (before discount) broken down by Site or
            Recipient Location and by Service as at the relevant Annual
            Reassessment Date (or Discount Adjustment Date if appropriate),
            together with a breakdown of the monthly Dollar Service Fees for
            each Site and Recipient Location as at that date;

      (b)   written notification of the Discount Rate applicable for the next
            calendar year (or from 1 July to 31 December if appropriate); and

      (c)   a Schedule D revised to take into account any amendments made in
            accordance with Clause 4.7.

5.    AUTHORISED CANCELLATIONS

5.1   You will be entitled, subject to the provisions of this Clause 5, to an
      annual allowance for reductions in the Service Fees ("Service Fees
      Adjustment Allowance") in the following amount:

      (a)   in the period from the Commencement Date to 31 December in that
            year, an amount equal to 25% of your total annual Dollar Service
            Fees at the Commencement Date. Where the Commencement Date is not 1
            January this amount will be reduced on a pro-rata basis by reference
            to the number of months in that period;

      (b)   in each following calendar year, an amount equal to 25% of your
            total annual Dollar Service Fees calculated as at the Annual
            Reassessment Date in the previous calendar year (subject to any
            revision in accordance with Clause 4.8).

                                       15
<PAGE>   18

5.2   You may at any time cancel any of the Services at any Site and/or reduce
      the number of Interactive Accesses or Slave Displays having access to a
      Datafeed Service at a Site or Recipient Location and the Service Fees
      will be reduced accordingly:

            (i)   on the expiry of a notice given under Clause 5.2(a) for
                  Service Fees other than Access Fees, or

            (ii)  on the commencement of the Quarter Date (or other relevant
                  billing period) following the receipt of the Access
                  Declaration referred to in Clause 5.2(b) for Access Fees, as
                  the case may be,

                  provided that:

      (a)   in the case of cancellation of Services you give us 90 days' notice
            in writing:

      (b)   in the case of any reduction in Interactive Accesses or Slave
            Displays you declare the reduction in the next Access Declaration;

      (c)   you have paid in full all Charges payable in respect of Services
            supplied at or accessed at the relevant Site or Recipient Location
            on the date of such notice or Access Declaration;

      (d)   you will be invoiced for the cancelled Services up to the date upon
            which the cancellation takes effect under Clause 5.2(a); and

      (e)   as at the date of the notice or Access Declaration, the reduction in
            your total annual Dollar Service Fees (based on the monthly Dollar
            Service Fees on that date), when added to the reduction resulting
            from previous cancellations or reductions under this Clause 5.2 in
            the same calendar year. does not exceed your Service Fees Adjustment
            Allowance for that year.

5.3   For the purpose of:

        (a)    calculating the Service Fees Adjustment Allowance the Conversion
               Rates used will be those referred to in Clause 3.3 or 4.3 (as
               appropriate);

        (b)    measuring reductions in the Dollar Service Fees against the
               Service Fees Adjustment Allowance under Clause 5.2(e), the
               Conversion Rates used will be those which were used in accordance
               with Clause 5.3(a) to establish the relevant Service Fees
               Adjustment Allowance.

5.4   The provisions of paragraphs 2.2.3(b), (C) and (d) of the Reuters Business
      Principles relating to the "Access Fee Adjustment Allowance" (as defined
      in the Reuters Business Principles), do not apply in respect of your Sites
      and Recipient Locations or

                                       16
<PAGE>   19

      those of your Subsidiaries, as they are superseded by the provisions of
      this Contract relating to the Service Fees Adjustment Allowance. Paragraph
      2.2.3(b) of the Reuters Business Principles is replaced by Clause 3.7 of
      this Contract.

5.5   For the purpose of measuring reductions in the total annual Dollar Service
      Fees against the Service Fees Adjustment Allowance under Clause 5.2(e):

      (a)   any reductions in the Service Fees resulting from cancellations of
            Services or reductions in Interactive Accesses or Slave Displays
            will be offset by any previous increases in the Service Fees in the
            same calendar year resulting from any additional Services or
            additional Interactive Accesses or Slave Displays;

      (b)   no account will be taken of any reduction in the Service Fees in any
            of the following circumstances:

            (i)   your cancellation of a Service as a result of our decision to
                  exclude that Service from the Agreement under Clause 2.3;

            (ii)  your cancellation of a Service or reduction of an access
                  following an increase of the Service Fees above the Agreed
                  Level under Clause 3.11;

            (iii) your cancellation of a Service which ceases to be discountable
                  under Clause 4.1(d);

            (iv)  your cancellation of a specialist data Service or a Test
                  Product;

            (v)   a Site becoming an ex-Site where we continue to supply
                  services to the ex-Site subject to the conditions set out in
                  Clause 6.8;

            (vi)  where you cancel a Service for our material breach under
                  Clause 7.1;

            (vii) our withdrawal of a Service under Clause 7.6;

            (viii) our cancellation under Clause 7.7 of a Service due to
                  modification, termination or breach of a third party agreement
                  or due to some illegality;

            (ix)  cancellation of a Service by either of us for force majeure
                  under Clause 11.6;

            (x)   your cancellation of a Service under Clause 12.4(b) following
                  our

                                       17
<PAGE>   20

                  amendment of the Reuters Business Principles;

            (xi)  your cancellation of "Remote Access", as defined in paragraph
                  2.5.1(d) and in accordance with paragraph 2.5.3 of the Reuters
                  Business Principles,

            (xii) our removal of Materials under paragraph 4.1.7(b) of the
                  Reuters Business Principles following a third party claim of
                  infringement of intellectual property right;

            (xiii) your cancellation of "RMM" or "RMV", as referred to in
                  paragraph 6.9 and in accordance with paragraph 6.9.6 of the
                  Reuters Business Principles;

            (xiv) your cancellation of "LXT", as referred to in paragraph A.4
                  and in accordance with paragraph A.4.2 of the Reuters Business
                  Principles.

5.6   We will notify you in writing where the Service Fees for any Service not
      previously supplied under the Agreement will not be taken into account for
      the calculation of the Service Fees Adjustment Allowance.

5.7   As soon as reasonably practicable after each Annual Reassessment Date we
      will notify you in writing of the Service Fees Adjustment Allowance
      applicable for the following calendar year.

6.    ADDITIONS AND DELETIONS OF SITES AND RECIPIENT LOCATIONS

6.1   If at any time after the Commencement Date:

      (a)   another Company receiving our services becomes your Subsidiary or

      (b)   you wish to include in the Agreement any of your offices or offices
            of Subsidiaries not then receiving Services under the Agreement,

      we will supply the Services to the relevant office(s) in accordance with
      the Agreement if the conditions set out in Clause 6.2 are satisfied.

6.2   The conditions referred to in Clause 6.1 are:

      (a)   receipt by us of written confirmation that the office seeking
            inclusion is your office or that of a Subsidiary;

      (b)   where we do not already offer the relevant services in the proposed
            location,

                                       18
<PAGE>   21

            you agree that we may decline to supply the Services to that
            location where, in our reasonable opinion, installation and supply
            of such services would require an unacceptable usage of our
            technical resources.

6.3   The Services will be supplied to the new Site or Recipient Location under
      the Agreement and we will apply the discount to the Discountable Service
      Fees and invoice the Service Fees with effect from the date on which the
      conditions set out in Clause 6.2 are satisfied.

6.4   The Service Fees for the new Site or Recipient Location will be taken into
      account in our recalculation of your Discount Rate on the first Annual
      Reassessment Date or Discount Adjustment Date following the date referred
      to in Clause 6.3.

6.5   You will notify us in advance and as soon as practicable if any Company
      receiving the Service under the Agreement ceases to be a Subsidiary of
      yours, or if any one of the locations listed in Schedule B ceases to be a
      Site or Recipient Location controlled by you or any of your Subsidiaries
      (an "ex-Site").

6.6   In the case of a disposal of an ex-Site to a third party we recognise the
      potential sensitivity of the information referred to in Clause 6.5 and you
      will notify us as soon as practicable after signature of the agreement to
      dispose of the ex-Site, or (if it is legally necessary to announce
      publicly the transaction) after public announcement of such a transaction
      (whichever is the earlier). Where there is a delay between signature of
      the agreement and completion of the transaction, you will keep us informed
      of the intended completion date for such transaction, any changes to such
      intended date, and the actual completion date.

6.7   You will remain responsible for all amounts owing under the Agreement in
      respect of the relevant ex-Site until the relevant Services are no longer
      supplied to the ex-Site under the Agreement.

6.8   (a)   Subject to Clause 6.8(b), where a Site becomes an ex-Site this will
            be treated as a cancellation of the relevant Services, and the
            Service Fees will be reduced accordingly.

      (b)   If we continue to provide the relevant ex-Site with services without
            any interruption, the cancellation will only be taken into account
            for the purpose of measuring it against the Service Fees Adjustment
            Allowance to the extent that the United States Dollars service fee
            value of these services (at the then current list prices) is less
            than the Dollar Service Fees for the Services deemed to be cancelled
            under this Clause 6.8 (using Conversion Rates as at

                                       19
<PAGE>   22

            the Commencement Date or the last Annual Reassessment Date,
            whichever is later.

6.9   We will re-issue by 15 August in each year an updated Schedule B listing
      all the Sites and Recipient Locations including all new Sites and
      Recipient Locations and excluding all ex-Sites, according to the
      information available to us, and you will confirm in writing within 30
      days that the contents of the updated Schedule B are complete and correct
      and that all the Companies listed on such Schedule are your Subsidiaries.

7.    TERMINATION AND OTHER REMEDIES

7.1   Subject to Clause 7.4, if either of us is in breach of any of its material
      obligations under the Agreement and fails to remedy such breach (if
      capable of remedy) within 30 days of a request in writing to do so (or in
      the case of Clause 3.10, 30 days after your receipt of an overdue notice
      from us), the other party may terminate the affected Service(s) at the
      relevant Site.

7.2   Either of us may terminate the Agreement immediately and without notice
      if:

      (a)   the other enters into a composition with its creditors;

      (b)   an order is made for the winding up of the other;

      (c)   an effective resolution is passed for the winding up of the other
            (except for the purposes of amalgamation or reconstruction on terms
            approved by the first party (such approval not to be unreasonably
            withheld));

      (d)   the other has a receiver, manager, administrative receiver or
            administrator appointed in respect of it; or

      (e)   the other has suffered any other similar insolvency or bankruptcy
            event under applicable local law.

7.3   If you are a partnership. we may terminate the Agreement immediately and
      without notice in the event that any partner within your partnership
      suffers an act of bankruptcy or has a petition or receiving order in
      bankruptcy or any equivalent or analogous proceedings, presented or made
      against him or her under any applicable law.

7.4   In addition to any other remedies to which we may be entitled, a breach by
      you of paragraph 2.2 of the Reuters Business Principles, or of your
      obligations under any licence of Software in the Agreement (a "Software
      Licence Breach"), will entitle us to

                                       20
<PAGE>   23

      the following rights:

      (a)   we will notify you in writing of such a breach. In the event that
            you are unable to establish to our reasonable satisfaction that you
            have successfully stopped the breach at the relevant Site(s) or
            Recipient Location(s) (the "Location in Breach") within

            (i)   30 days of such notice in the case of a breach of paragraph
                  2.2 of the Reuters Business Principles, and

            (ii)  72 hours of such notice in the case of a Software Licence
                  Breach, Clause 7.4(b) will apply;

      (b)   we may cancel by notice in writing with immediate effect the
            affected Service(s) or any part of such Service(s) at such Sites or
            Recipient Locations as we may deem necessary to ensure that no such
            further breaches occur at the Location in Breach. In particular:

            (i)   in the case of a breach of paragraph 2.2 of the Reuters
                  Business Principles dealing with redistribution of
                  Information, we may stop delivering the affected Service(s) or
                  part of the Service(s) to the Site lawfully redistributing the
                  same to the Location in Breach, where you have exercised your
                  right to redistribute Datafeed Services under paragraph 2.2.3
                  of the Reuters Business Principles; and

            (ii)  in the case of a Software Licence Breach, we may withdraw the
                  affected licence and cancel the affected Service(s) or part of
                  the Service(s) at the Location in Breach; and

      (c)   whether or not you have successfully stopped the breach of paragraph
            2.2 of the Reuters Business Principles or the Software Licence
            Breach, as the case may be, within the notice periods set out in
            Clause 7.4(a), we will have the right to terminate the whole
            Agreement on 30 days' notice in writing where there have been three
            or more such breaches within any twelve month period.

7.5   In addition to the above, if you materially breach the Agreement, we may
      immediately suspend the Services in whole or in part at the relevant
      Site(s) without penalty until the breach is remedied.

7.6   We may on 6 months' notice in writing cease providing any Service at any
      Site if we

                                       21
<PAGE>   24

      withdraw such Service from all our clients in the country where such Site
      is located. The Agreement will continue in respect of all Services not
      withdrawn.

7.7   We may cancel a Service or a part of a Service, as the case may be, by
      notice in writing if the provision of all or part of that Service:

      (a)   depends on an agreement between the Reuters Group and a third party.
            and such agreement is modified or terminated for any reason or
            breached by the third party and as a result we are unable to
            continue to provide all or part of that Service upon terms
            reasonably acceptable to us; or

      (b)   becomes illegal or contrary to any rule, regulation, guideline or
            request of any exchange or regulatory authority.

7.8   The following will continue to apply after termination of the Agreement,
      or termination or cancellation of the Services at a particular Site:

      (a)   all disclaimers, indemnities and restrictions relating to the
            Services;

      (b)   our rights of access to the Sites or Recipient Locations to remove
            the Materials, and to confirm deletion of any Software or
            Information at the relevant Site(s) (unless both of us agree
            otherwise);

      (c)   the confidentiality undertaking in Clause 10.

8.    UNAUTHORISED CANCELLATION AND TERMINATION - CONSEQUENCES

8.1   Subject to any other terms imposing additional liability, where you
      purport to cancel a Service on less than 90 days' prior notice in writing
      in breach of Clause 5.2(a), we will invoice you and you will pay the
      Service Fees payable over the full 90 days.

8.2   Subject to any other terms imposing additional liability, where you
      purport to cancel a Service or reduce the number of Interactive Accesses
      or Slave Displays and such cancellation or reduction has the effect of
      reducing the annual Dollar Service Fees in excess of the Service Fees
      Adjustment Allowance in breach of Clause 5.2(e) (subject always to the
      other provisions of Clause 5), we will invoice you and you will pay the
      Service Fees payable in respect of that Service or those accesses (to the
      extent that they exceed the Service Fees Adjustment Allowance) until the
      earlier of the events described in paragraphs (a) and (b) below:

      (a)   you contract for additional Services or declare additional accesses
            which have a United States Dollars service fee value equal to or in
            excess of the Dollar Service Fees payable for the Services cancelled
            or accesses reduced in excess of the Service Fees Adjustment
            Allowance permitted by Clause

                                       22
<PAGE>   25

            5.2(e) (using the Conversion Rates which were used to establish the
            relevant Service Fees Adjustment Allowance in accordance with Clause
            5.3(a)), or

      (b)   the end of the year in which the cancellation or reduction took
            place (or the end of the cancellation notice period if later),
            provided that the Service Fees Adjustment Allowance for the
            following year is sufficient to cover the cancellation or reduction
            that had been in excess of the previous year's Service Fees
            Adjustment Allowance. The Service Fees Adjustment Allowance in the
            following year will be proportionally reduced to take account of the
            cancellations or reductions which had been in excess of the previous
            year's Service Fees Adjustment Allowance.

      Where the entire Service Fees Adjustment Allowance for the following year
      would not be sufficient to cover the cancellation or reduction, we will be
      entitled to liquidated damages calculated in accordance with Clause 8.4,
      with credit given for Service Fees paid under this Clause 8.2 during the
      year of the cancellation or reduction.

8.3   If we exercise our right to terminate affected Service(s) at a Site for
      your breach under Clauses 7.1 or 7.4, then, in addition to any other
      remedies to which we may be entitled, this termination will be treated as
      a cancellation which will be measured against your Service Fees Adjustment
      Allowance (subject to Clause 5.5(a)), and Clause 8.1, and, where
      appropriate, Clause 8.2, will apply.

8.4   Where you purport to terminate the Agreement on notice, but in breach of
      Clause 1.2, or we terminate the Agreement for your breach in accordance
      with Clause 7.4(c), then, in addition to any other remedies to which we
      may be entitled, we will be entitled to liquidated damages equal to the
      total Dollar Service Fees (as calculated in accordance with Clause 3.3 or
      Clause 4.3) payable from the date of the termination to the expiry of the
      24 months' notice period set out in Clause 1.2 less:

      (a)   a reduction in the Dollar Service Fees which, when added to any
            reduction previously effected in that calendar year in accordance
            with Clause 5.2, will equal the aggregate Service Fees Adjustment
            Allowance over that notice period;

      (b)   your discount over that notice period (as revised in accordance with
            Clause 4.7, but using the current year's discount bands);

      (c)   an amount in respect of benefits to us from saved administration and
            other costs, equal to 30/c per annum of the relevant Dollar Service
            Fees (as reduced under paragraphs (a) and (b) of this Clause 8.4);
            and

      (d)   an amount in respect of accelerated receipt calculated by
            discounting at 5%

                                       23
<PAGE>   26

            per annum the relevant Dollar Service Fees (as reduced under
            paragraphs (a) to (c) of this Clause 8.4).

      We both agree that this constitutes a realistic pre-estimate of our loss
      and is not intended to be a penalty.

8.5   Where you pay liquidated damages in accordance with Clause 8.4 and you
      re-contract for Services within 3 months of the date of termination or
      cancellation, we will give you credit for the resulting mitigation of our
      loss (in such a way as we may both agree in writing).

9.    LIABILITY

9.1   Although we will use all reasonable endeavours to ensure the accuracy and
      reliability of the Services, you accept that neither we nor any member of
      the Reuters Group nor any Information Provider nor any other third party
      supplier will be liable for any loss or damage in connection with the
      provision of or failure to provide the Services, except as set out in this
      Clause 9.

9.2   We accept liability for:

      (a)   death or personal injury caused by our negligence;

      (b)   physical loss or damage to any Site caused by our negligence;

      (c)   any other direct loss or damage caused by our gross negligence or
            wilful misconduct.

      To the extent permitted by law and except for Clause 9.2(a). under no
      circumstances will our liability under the Agreement in respect of any one
      claim exceed the annualised Service Fees at the relevant Site(s) (based on
      the monthly Service Fees at the time the event giving rise to the claim
      took place), regardless of the cause or form of action.

9.3   TO THE EXTENT PERMITTED BY LAW, EXCEPT AS EXPRESSLY STATED IN THIS
      AGREEMENT, ALL EXPRESS OR IMPLIED CONDITIONS, WARRANTIES OR UNDERTAKINGS,
      WHETHER ORAL OR IN WRITING, IN LAW OR IN FACT, INCLUDING WARRANTIES AS TO
      SATISFACTORY QUALITY AND FITNESS FOR A PARTICULAR PURPOSE, ARE EXCLUDED.

9.4   EXCEPT FOR CLAUSE 9.2(a), NEITHER PARTY TO THE AGREEMENT, NOR ANY MEMBER
      OF THE REUTERS GROUP, ANY INFORMATION PROVIDER OR ANY OTHER THIRD PARTY
      SUPPLIER, WILL BE LIABLE TO THE OTHER PARTY TO THE AGREEMENT OR TO ANY
      THIRD PARTY FOR ANY INDIRECT, SPECIAL OR

                                       24
<PAGE>   27

      CONSEQUENTIAL LOSS OR DAMAGE ARISING OUT OF THE AGREEMENT OR THE SERVICES.

9.5   You will indemnify us against any direct loss or damage caused to the
      Materials, except to the extent such loss or damage is caused by our
      negligence or wilful misconduct.

9.6   You will indemnify us against any direct loss, damage or cost in
      connection with any claim or action which may be brought by any third
      party against us relating to any use of or access to the Information
      contributed by you to the Services.

9.7   You will indemnify us for any loss or damage or cost in connection with a
      claim or action resulting from:

      (a)   any failure to supply Access Declarations,

      (b)   any inaccurate Access Declarations, and/or

      (c)   you permitting access or redistributing Information inside or
            outside the Site (including, without limitation, over the public
            internet and/or your intranets) beyond the rights which we have
            specifically granted to you in the Reuters Business Principles.

9.8   You agree that this Clause 9 is enforceable by and for the benefit of
      members of the Reuters Group, Information Providers and other third party
      suppliers.

9.9   Nothing in this Agreement is intended to affect your statutory rights in
      Australia such as those in the Trade Practices Act 1974.

10.   CONFIDENTIALITY

10.1  Each of us acknowledges that information of a confidential nature relating
      to the business of the other may be disclosed to it or otherwise come to
      its attention. Each of us undertakes to hold such information in
      confidence and not, without the consent of the other, to disclose it to
      any third party nor to use it for any purpose other than in the
      performance of the Agreement.

10.2  This obligation of confidentiality will not apply to information that:

      (a)   is generally available to the public through no act or omission of
            the receiving party, or

      (b)   becomes known to the receiving party through a third party without
            breaching any obligation of confidentiality, or

                                       25
<PAGE>   28

      (c)   is developed by the receiving party independently of the disclosing
            party without use of the Confidential Information.

      The obligation of confidentiality also will not apply to information that
      is required to be disclosed by law, court order or request by any
      government or regulatory authority, provided that, prior to complying with
      any such request, the receiving party will (1) use reasonable efforts to
      give the disclosing party prompt notice of such request so that it may
      seek an appropriate protective order or other remedy and (2) consult with
      the disclosing party as to the advisability of taking legally available
      steps to resist or narrow such a request. The receiving party will
      cooperate fully with the disclosing party in obtaining such an order or
      other remedy. If in the absence of an appropriate protective order or
      other remedy the receiving party is nonetheless legally required to
      disclose the information, the receiving party may make such disclosure
      without liability under the Agreement provided that the receiving party
      uses reasonable efforts to give the disclosing party written notice of the
      information to be disclosed as far in advance of its disclosure as is
      practicable and, upon the disclosing party's request and at its expense,
      shall use reasonable efforts to obtain reasonable assurances that
      confidential treatment will be accorded such information.

10.3  This undertaking will be binding for as long as such information retains
      commercial value.

10.4  Each of us agrees that the obligation of confidentiality contained in
      Clause 10.1 also applies to

            (i)   the terms of the Agreement (as amended from time to time), and

            (ii)  our discussions relating to any amendments to the Agreement
                  and to any new agreement replacing the Agreement.

      In addition, no public announcement, press release, communication or
      circular (other than to the extent required by law or regulation)
      concerning the Agreement will be made or sent by either of us without the
      prior consent of the other. This consent will not be unreasonably
      withheld.

11.   GENERAL

11.1  (a)   Subject to Clauses 11.1(c) and (d) all notices will be sent by
            registered mail or facsimile transmission or delivered in person to
            the addresses specified in the Contract or such other address as may
            be notified for the purposes of this Clause.

                                       26
<PAGE>   29

      (b)   Notices will be deemed to be received 5 business days after being
            sent or on proof of delivery whichever is the earlier.

      (c)   We may send to the relevant Sites or Recipient Locations any notices
            under Clause 3.11 and any notices referred to in the Reuters
            Business Principles with a copy to the main contact and Office of
            the General Counsel. as follows:

                  (MAIN CONTACT AND GC DETAILS TO BE PROVIDED]

      (d)   We may electronically send you any notice referred to in Clauses
            12.4(a) and (d) and in the Reuters Business Principles.

11.2  Subject to our rights under Clauses 2.6, 2.7 and 2.8, neither of us may
      assign its rights or duties under the Agreement without the prior written
      consent of the other.

11.3  The Agreement will be governed by and construed in accordance with English
      Law. Both of us submit to the non-exclusive jurisdiction of the English
      Courts for the resolution of any dispute which may arise between you and
      us. No translation of the Agreement out of the English language will have
      any legal validity.

11.4  If any term of the Agreement that is not fundamental is found to be
      illegal or unenforceable, this will not affect the validity or
      enforceability of the remainder of the Agreement.

11.5  If either of us delays or fails to exercise any right or remedy under the
      Agreement. that party will not have waived that right or remedy.

11.6  Neither of us will be held liable for any loss or failure to perform any
      obligation (other than a payment obligation where you are still receiving
      all or part of the Services), due to circumstances beyond its reasonable
      control. Should such circumstances continue for more than 3 months, either
      of us may cancel any affected Service immediately by notice in writing
      without penalty.

11.7  You agree that we, certain Information Providers and our agents will be
      entitled to have access to the Sites and Recipient Locations upon
      reasonable notice, during business hours and so as not to unduly interfere
      with your business, to verify your compliance with the Agreement. During
      the verification, we and our agents will comply with your reasonable
      requirements relating to security and confidentiality, including your
      having an appropriate level employee present during such verification on
      the relevant Sites and/or Recipient Locations.

11.8  Your personnel will accompany our personnel while entering and leaving any
      of the

                                       27
<PAGE>   30

      Sites or Recipient Locations for any purpose connected with the Agreement.
      You will take use the same precautions for our personnel as for your
      personnel to ensure the health and safety of our personnel whilst at such
      locations.

11.9  If there is any conflict between the terms of the Contract and the terms
      of the Reuters Business Principles, the terms of the Contract will
      prevail.

12.   ENTIRE AGREEMENT - REUTERS BUSINESS PRINCIPLES

12.1  You acknowledge and agree that:

      (a)   you have been provided with a copy of the Reuters Business
            Principles:

      (b)   you have read the Reuters Business Principles and agree with its
            contents to the extent that they apply to the Services; and

      (c)   the Reuters Business Principles (to the extent that they apply to
            the Services and that provisions of the Reuters Business Principles
            are not specifically excluded and/or amended in this Contract) and
            any Order Form form an integral part of the Agreement.

12.2  This Agreement replaces from the Commencement Date (or, for the purposes
      of Clause 6.3, from the later date on which the Services are first made
      available to you under the Agreement at the new Site) any previous
      agreement(s) between you and us in respect of the supply by us of services
      at the Sites, to the extent that such services are eligible for inclusion
      into the Agreement. You will pay any amounts outstanding under such
      agreement(s) in respect of such services or the due proportion of any
      service fees to the Commencement Date (or such later date referred to
      above). We will refund or credit you any service fees or the due
      proportion of any such service fees paid in advance under such
      agreement(s) for such services in respect of any period from the
      Commencement Date (or such later date referred to above).

12.3  The Agreement contains our and your entire understanding regarding its
      subject matter. In entering into the Agreement, you have not relied upon
      any warranty or representation (except in the case of fraud) made by us
      other than those set out in the Agreement.

12.4  (a)   In order to take account of new policies or changes to existing
            policies, in both cases solely within our control, we may once a
            year amend the Reuters Business Principles by giving you 3 months'
            notice in writing no later than 1 October. Where such new policies
            or changes are not within our sole control we may amend the Reuters
            Business Principles at any time by giving you 3 months' notice in
            writing Subject to Clause 12.4(b), the amended Reuters

                                       28
<PAGE>   31

            Business Principles will take effect at the end of such notice
            period, unless we both agree in writing to changes to such
            amendments.

      (b)   If you can show that any of our amendments to the Reuters Business
            Principles will result in an increase in your costs of receiving the
            Services in excess of the Agreed Level or in a material reduction of
            your rights to use the Information, you may cancel the Service
            affected without penalty.

      (c)   If you choose to exercise the above right to cancel, you must give
            us notice in writing within 30 days of the date of our notice
            referred to in Clause 124(a) and the Service will be cancelled from
            the date on which the amended Reuters Business Principles come into
            effect.

      (d)   In the case of new Services requiring specific provisions, we will
            notify you of the necessary amendments to the Reuters Business
            Principles which will take effect immediately upon you ordering such
            Services, to the extent that they apply only to these new Services,
            unless agreed otherwise in writing between us.

12.5  Except as set out in Clause 12.4, and subject to Clause 2.7, the Agreement
      may only be varied by an amendment signed by both of us.

12.6  A person who is not a party to this Agreement shall have no right under
      the Contracts (Rights of Third Parties) Act 1999 to enforce any of its
      terms.

                                       29
<PAGE>   32

                        GLOBAL REUTERS SERVICES CONTRACT

                                   SCHEDULES

A       Services and Service Fees at Commencement Date by Site and
        Recipient Location

B       Sites and Recipient Locations covered by the Agreement

C       Non-Reuters Group Companies

D       Discount Bands

                                       30
<PAGE>   33

REUTERS GLOBAL AGREEMENT 3                       SCHEDULE A

Client: Instinet                                            Address
Branch:
        US42367     Instinet                                875 - 3rd Avenue
                                                            18th Floor

2000 Discount:     16.50
Currency:      USD
City:  NEW YORK

Date:          01 January 2001

<TABLE>
<CAPTION>

Description                   Curr   Unit Price         Qty      Subscription
<S>                           <C>            <C>         <C>        <C>
NORTH AMERICAN SEC NEWS       USD            59,891.00   1          58,891.00
Currency:      Total Monthly Subscription        Total Non Discounted
    USD                         59,891.00                        0.00
</TABLE>

                                                                          Page 1
<PAGE>   34

REUTERS GLOBAL AGREEMENT 3          SCHEDULE A
Client:     Instinet                                        Address
Branch:
        US34530  Instinet - Production & Development        875 Third Avenue
                                                            New York
2000 Discount:     16.50                                    NY
Currency:      USD
City:  NEW YORK

Date:          01 January 2001
<TABLE>
<CAPTION>

Description                               Curr    Unit Price  Qty   Subscription
<S>                                       <C>         <C>      <C>     <C>
BUSINESS BRIEFING PC                      USD         750.00   1       750.00
REUTERS 3000IP WORKSTATION                USD           0.00   9         0.00
MARKETS 3000 DATABASE                     USD           0.00   2         0.00
NBRT (NO HDW) SECURITIES 3000 PACKAG      USD         635.00   1       635.00
TREASURY 3000 DATAFEED ACCESS             USD         845.00   2     1,690.00
ROUTER                                    USD           0.00   1         0.00
ON-LINE DIRECTORY                         USD           0.00   3         0.00
SELECTSERVER CACHE                        USD       6,050.00   2    12,100.00
CORPORATE ACTIONS 500 INSTRUMENTS,AD      USD           0.00   1         0.00
INSTINETTRADING INTL EQUITY EXCH          USD      18,800.00   1    18,800.00
INSTINET TRADING DOM EQUITY EXCH          USD     204,000.00   1   204,000.00
INSTINET R&A DOM EQUITY EXCH              USD      34,000.00   1    34,000.00
SPEC: S&P MARKETSCOPE EUROPE              USD           0.00   2         0.00 ND
SELECTSERVER BRD BACKLINK UV&P HDWR       USD           0.00   2         0.00 ND
SS BROADCAST BACKLINK UVP IRG SERVER      USD           0.00   2         0.00 ND
SELECTFEED PLUS - UNLIMITED PAGES         USD           0.00   2         0.00 ND
SELECTFEED -4800 RICS                     USD           0.00   2         0.00 ND
SONRT                                     USD           0.00   1         0.00
SELECTFEED PLUS CONCENTRATOR IRG SERVER   USD           0.00   1         0.00
NBRT SERVER CONCENTRATOR MODE             USD           0.00   1         0.00
REUTER 3000 MONEY                         USD           0.00   9         0.00
SPEC: S&P MKTSCOPE EUROPE (DF)            USD           0.00   1         0.00 ND
MARKETS 3000 USER (IP)                    USD           0.00   8         0.00
MARKETS 2000                              USD           0.00   2         0.00
MARKETS 3000                              USD           0.00   3         0.00
SESSIONSERVER                             USD           0.00   2         0.00
REUTER 3000 FIXED INCOME                  USD           0.00   1         0.00
REUTERS BUSINESS BRIEFING-SEARCH          USD         750.00   4     3,000.00
ADDITIONAL PRIVATE PAGE (MN)              USD       1,000.00   1     1,000.00
TREASURY 3000 DATAFEED ACCESS             USD         845.00   1       845.00
MARKETS 3000 DATAFEED USER                USD         970.00   1       970.00
MARKETS 3000 USER(IP)                     USD       1,210.00   1     1,210.00
MARKETS 3000 SOFTWARE (IP)                USD           0.00   9         0.00

 Currency:       Total Monthly Subscription                Total Non Discounted
     USD                           279,000.00                              0.00
</TABLE>

                                                                          Page 1
<PAGE>   35

REUTERS GLOBAL AGREEMENT 3                       SCHEDULE A

Client:     Instinet                                        Address
Branch:
        US35699  Instinet - Production & Development        875 Third Avenue
                                                            New York
2000 Discount:     16.50                                    NY
Currency:      USD
City:  NEW YORK

Date:          01 January 2001
<TABLE>
<CAPTION>

Description                            Curr    Unit Price  Qty      Subscription
<S>                                    <C>           <C>    <C>         <C>
ON-LINE DIRECTORY                      USD           0.00   1           0.00
SESSIONSERVER                          USD           0.00   1           0.00
SELECTFEED PLUS CACHE CHARGE           USD       7,900.00   1       7,900.00
MARKETS 2000                           USD           0.00   1           0.00
MARKETS 2000 SOFTWARE                  USD       1,210.00   5       6,500.00
NBRT SERVER W/BACKLINK                 USD           0.00   2           0.00 ND
SELECTFEED PLUS - UNLIMITED PAGES      USD           0.00   1           0.00 ND
SELECTSERVER BRD BACKLINK UV&P HDWR    USD           0.00   1           0.00 ND
SS BROADCAST BACKLINK UVP IRG SERVER   USD           0.00   1           0.00 ND
TREASURY 3000 DATABASE                 USD           0.00   1           0.00
TREASURY 3000 DATAFEED ACCESS          USD         845.00   1         845.00
SELECTFEED PLUS 9600 RICS              USD           0.00   1           0.00 ND
SOFTWARE ONLY NBRT W/BACKLINK          USD           0.00   10          0.00
MARKETS 2000 SOFTWARE                  USD       1,210.00   5       6,050.00
REUTER 3000 MONEY                      USD           0.00   2           0.00
REUTER 3000 FIXED INCOME               USD           0.00   2           0.00
SELECTFEED PLUS CACHE CHARGE           USD       7,900.00   1       7,900.00

 Currency:       Total Monthly Subscription        Total Non Discounted
    USD                                28,745.00                    0.00
</TABLE>

                                                                          Page 1
<PAGE>   36

REUTERS GLOBAL AGREEMENT 3                       SCHEDULE A

Client:     Instinet                                        Address
Branch:
        US35918  Instinet - Production & Development        875 Third Avenue
                                                            New York
2000 Discount:     16.50                                    NY
Currency:      USD
City:  NEW YORK

Date:          01 January 2001

<TABLE>
<CAPTION>

Description                             Curr    Unit Price     Qty  Subscription
<S>                                     <C>       <C>         <C>    <C>
SELECTFEED PLUS CACHE CHARGE            USD       1,591.61    2      3,183.22
REUTERS DATAFEED TRIARCH W DACS         USD           0.00    4          0.00
SELECTFEEDPLUS-UNLIMITED PAGES          USD           0.00    5          0.00 ND
MARKET NEWS, ADD SERVICE                USD         155.00    1        155.00
SFP+ BCST W/BKLINK W3RD PTY ENTITLEM    USD           0.00    5          0.00
MARKET NEWS, ADD SERVICE                USD           0.00    5          0.00
SELECTFEED PLUS 9600 RICS               USD           0.00    5          0.00 ND
SELECTFEED PLUS CACHE CHARGE            USD         540.00    1        540.00
MARKETS 2000                            USD           0.00    9          0.00
REUTERS DATAFEED CACHE CHARGE           USD      40,000.00    1     40,000.00
REUTERS DATAFEED HARDWARE               USD           0.00    1          0.00
SELECTFEED PLUS CACHE CHARGE            USD       1,071.00    2      2,042.00
SELECTFEED PLUS CACHE CHARGE            USD       6,470.00    1      6,470.00
REUTERS DATAFEED PC CONSOLE             USD           0.00    1          0.00
REUTERS DATAFEED 500,000 WATCHLIST      USD           0.00    1          0.00
REUTERS DATAFEED MEMORY UPGRADE         USD           0.00    1          0.00
ROUTER                                  USD           0.00    1          0.00

Currency:            Total Monthly Subscription    Total Non Discounted
    USD                           52,490.22                        0.00
</TABLE>

                                                                          Page 1
<PAGE>   37

REUTERS GLOBAL AGREEMENT 3                       SCHEDULE A

Client:     Instinet                                        Address
Branch:
        US38412  Instinet - Production & Development        875 Third Avenue
                                                            New York
2000 Discount:     16.50                                    NY
Currency:      USD
City:  NEW YORK

Date:          01 January 2001

<TABLE>
<CAPTION>

Description                           Curr   Unit Price     Qty    Subscription
<S>                                    <C>      <C>          <C>       <C>
REUTERS PLUS LEVEL I COMPLETE W/NEWS   USD      175.00       7         1,225.00

Currency:        Total Monthly Subscription       Total Non Discounted
    USD                        1,225.00                           0.00
</TABLE>

                                                                          Page 1
<PAGE>   38

REUTERS GLOBAL AGREEMENT 3                       SCHEDULE A

Client:     Instinet                                 Address
Branch:
        FR08728  Instinet (France)                   62 Rue de Richelieu
                                                     75002
2000 Discount:     16.50                             Paris
Currency:      FRF                                   France
City:  PARIS

Date:          01 January 2001
<TABLE>
<CAPTION>

Description                           Curr    Unit Price   Qty    Subscription
<S>                                   <C>       <C>         <C>    <C>
ACCES RVF (ADD-ON ACCES 3000)         FRF           0.00    6          0.00
S&P MARKETSCOPE EUROPEAN - DF         FRF       1,600.00    1      1,600.00  ND
SESSIONSERVER                         FRF       1,250.00    1      1,250.00
S&P MARKETSCOPE EUROPEAN - SL         FRF       1,000.00    1      1,000.00  ND
SELECTFEED PLUS SUPPORT               FRF       2,500.00    2      5,000.00
DATAFEED 3000 MODEL B                 FRF      12,000.00    1     12,000.00
SESSIONSERVER                         FRF           0.00    1          0.00
REUTERS SITE FEE                      FRF       2,660.00    1      2,660.00
CONNEXION SATELLITAIRE SDS4           FRF           0.00    1          0.00
MARKETS 3000 ACCESS (1-50)            FRF       5,600.00    2     11,200.00
DROIT D'ACCES RVF (ADD-ON SITE 3000)  FRF       4,800.00    1      4,800.00

 Currency:       Total Monthly Subscription     Total Non Discounted
       FRF                      36,910.00                   2,600.00

Euro Total                       5,626.87                     396.37
</TABLE>

                                                                          Page 1
<PAGE>   39

REUTERS GLOBAL AGREEMENT 3                       SCHEDULE A

Client:     Instinet                                        Address
Branch:
        FD66051  Instinet (Germany)                         Frankfurt

2000 Discount:     16.50
Currency:      DEM
City:  FRANKFURT

Date:          01 January 2001

<TABLE>
<CAPTION>

Description                          Curr    Unit Price    Qty  Subscription
<S>                                  <C>        <C>         <C>     <C>
SECURITIES 3000 ACCESS FEE           DEM        1,125.00    5       5,625.00
DER PLATOW BRIEF ACC                 DEM            0.00    1           0.00  ND
S & P MARKETSCOPE EUROPEAN K/A       DEM          480.00    2         960.00  ND
REUTER TERMINAL SOFTWARE             DEM          355.00   12       4,260.00
FUTURES LOCATION FEE                 DEM          225.00    1         225.00
GERMAN NEWS SERVICE LOCATION FEE     DEM        1,090.00    1       1,090.00
MARKETS 3000 KEYSTATION ACCESS       DEM        1,640.00    7      11,480.00
GERMAN NEWS SERVICE ACCESS FEE       DEM           89.00    9         801.00
FUTURES ACCESS FEE                   DEM          105.00    2         210.00
RBB SEARCH INTERNET 10 HOURS         DEM          780.00    1         780.00
TILL#GG - RICS                       OEM          170.00    6       1,020.00
S & P MARKETSCOPE EUROPEAN SL        DEM          280.00    1         280.00  ND
REUTERS SITE FEE                     EUR          400.00    1         400.00

Currency:       Total Monthly Subscription        Total Non Discounted
     DEM                    25,491.00                        1,240.00

      EUR                      400.00                            0.00

Euro Total                  13,433.34                          634.00
</TABLE>

                                                                          Page 1
<PAGE>   40

REUTERS GLOBAL AGREEMENT 3                      SCHEDULE A

Client: Instinet                                        Address
Branch:
        US18634 Instinet (US)                           875 Third Avenue
                                                        New York
2000 Discount:  16.50                                   NY
Currency:       USD
City:   NEW YORK

Date:   01 January 2001

<TABLE>
<CAPTION>
Description                                     Curr            Unit Price  Qt       Subscription
<S>                                             <C>             <C>         <C>         <C>
RDF HOT STANDBY 25000 WATCHLIST                 USD             52.500.00   1           52,500.00
SELECTSERVER BRD BACKLINK HARDWARE              USD                  0.00   4                0.00 ND
SELECTSERVER BROADCAST HARDWARE                 USD                  0.00   3                0.00 ND
SELECTSERVER MODEL CHARGE TU                    USD                870.00   3            2,610.00
SELECTSERVER MODEL CHARGE TU 2                  USD              6.775.00   4           27,100.00
SELECTSERVER MODEL CHARGE TU 2                  USD              6.775.00   3           20,325.00
SELECTFEED -600 RICS                            USD                  0.00   1                0.00 ND
BROADCAST SELECTFEED PLUS W/BACKLINK            USD              2,250.00   1            2,250.00 ND
BROADCAST SELECTFEED PLUS W/BACKLINK            USD                  0.00   4                0.00 ND
SFP BCST STORY BROADCAST MODE                   USD                  0.00   1                0.00
SFP+ BCST W/BKLINK W3RD PTY ENTITLEM            USD                  0.00   8                0.00
REUTERS DATAFEED TRIARCH W/DACS                 USD                  0.00   8                0.00
SFP BROADCAST BACKLINK IRG SERVER               USD                  0.00   10               0.00
REUTER 3000 FIXED INCOME                        USD                  0.00   13               0.00
SELECTFEED PLUS CACHE CHARGE                    USD              5.370.00   6           32,220.00
MARKETS 2000                                    USD                  0.00   26               0.00
ALL REPORTS TELEPRINTER (RNF)                   USD                  0.00   1                0.00
SITE FEE (3000)                                 USD                500.00   1              500.00
SELECTFEED PLUS CACHE CHARGE                    USD              1,510.00   4            6,040.00
SELECTFEED FULLY REDUNDANT BACKUP               USD              2,309.00   1            2,309.00
SECURITIES 3000 PACKAGE USER FEE                USD              3.421.00   1            3.421.00
SECURITIES 2000 WORKSTATION FEE                 USD                490.00   25          12,250.00
SECURITIES 2000 WORKSTATION FEE                 USD                420.00   50          21,000.00
SECURITIES 2000 WORKSTATION FEE                 USD                465.00   25          11,625.00
SECURITIES 2000 WORKSTATION FEE                 USD                340.00   37          12,580,00
ADD SVC SECURITIES 2000 SUPPORT FEE             USD                  0.00   3                0.00
ON-LINE DIRECTORY                               USD                  0.00   14               0.00
REUTERS DATAFEED HARDWARE                       USD                  0.00   3                0.00
REUTERS DATAFEED PC CONSOLE                     USO                  0.00   2                0.00
BROADCAST DATA STREAM EMERGENCY RICS            USD                  0.00   2                0.00 ND
REUTERS DATAFEED CACHE CHARGE                   USD             10,000.00   1           10,000.00
REUTERS DATAFEED 500,000 WATCHLIST              USD                  0.00   4                0.00
REUTERS DATAFEED MEMORY UPGRADE                 USD                  0.00   1                0.00
MARKETS 3000 DATAFEED USER                      USD                845.00   13          10,985.00
MARKETS 2000 DATAFEED ACCESS                    USD                  0.00   4                0.00
SELECTFEED PLUS - UNLIMITED PAGES               USD                  0.00   22               0.00 ND
SELECTFEED PLUS 9600 RICS                       USD                  0.00   18               0.00 ND
MARKETS 3000 RDB-EQUITY DF ACCESS               USD                  0.00   13               0.00
SELECTFEED PLUS CACHE CHARGE                    USD              5,370.00   6           32,220.00
SELECTSERVER BRD BACKLINK UV&P HDWR             USD                  0.00   4                0.00 ND
SS BROADCAST BACKLINK UVP IRG SERVER            USD                  0.00   4                0.00 ND
Currency:         Total Monthly Subscription                     Total Non Discounted
           USD                          257,685.00                           2,250.00
</TABLE>

                                                                          Page 1
<PAGE>   41

REUTERS GLOBAL AGREEMENT 3                      SCHEDULE A

Client: Instinet                                        Address
Branch:
        US37239 Instinet (US)                           850 Third Avenue
                                                        New York
2000 Discount:  16.50                                   NY
Currency:       USD
City:   NEW YORK

Date:   01 January 2001

<TABLE>
<CAPTION>
Description                                             Curr            Unit Price      Qty             Subscription
<S>                                                     <C>                     <C>      <C>                <C>
NEWS NETWORK ACCESS FEE                                 USD                     260.00   1                    260.00
REUTERS PLUS LEVEL I COMPLETE W/NEWS                    USD                     175.00   8                  1,400.00
Currency:          Total Monthly Subscription                           Total Non Discounted
     USD                                1,660.00                                        0.00
</TABLE>

                                                                          Page 1
<PAGE>   42

REUTERS GLOBAL AGREEMENT 3                      SCHEDULE A

Client: Instinet                                        Address
Branch:
        U537685 Instinet (US)                           40 East 52nd Street
                                                        New York
2000 Discount:  16.50                                   NY
Currency:       USD
City:   NEW YORK

Date:   01 January 2001

<TABLE>
<CAPTION>
Description                                             Curr            Unit Price      Qty             Subscription
<S>                                                     <C>                     <C>      <C>                  <C>
REUTERS PLUS SERVER                                     USD                     500.00   1                    500.00 ND
REUTERS PLUS SITE CHARGE                                USD                     300.00   1                    300.00
Currency:          Total Monthly Subscription                           Total Non Discounted
     USD                                300.00                                        500.00
</TABLE>

                                                                          Page 1
<PAGE>   43

REUTERS GLOBAL AGREEMENT 3                      SCHEDULE A

Client: Instinet                                        Address
Branch:
        US38962 Instinet (US)                           875 Third Avenue
                                                        New York
2000 Discount:  16.50                                   NY
Currency:       USD
City:   NEW YORK

Date:   01 January 2001

<TABLE>
<CAPTION>
Description                                             Curr            Unit Price      Qty             Subscription
<S>                                                     <C>                     <C>      <C>                  <C>
REUTERS PLUS LEVEL 2 USER                               USD                       0.00   5                      0.00
REUTERS PLUS LEVEL II ADD USER                          USD                     106.25   5                    531.25
REUTERS PLUS SERVER                                     USD                     500.00   1                    500.00 ND
Currency:          Total Monthly Subscription                           Total Non Discounted
     USD                                531.25                                        500.00
</TABLE>

                                                                          Page 1
<PAGE>   44

REUTERS GLOBAL AGREEMENT 3                      SCHEDULE A

Client: Instinet                                        Address
Branch:
        US39615 Instinet (US)                           40 East 52nd Street
                                                        New York
2000 Discount:  16.50                                   NY
Currency:       USD
City:   NEW YORK

Date:   01 January 2001

<TABLE>
<CAPTION>
Description                                             Curr            Unit Price      Qty             Subscription
<S>                                                     <C>                     <C>      <C>                <C>
PINK SHEETS PER SERVER                                  USD                     150.00   1                    150.00 ND
SPEC. PINK SHEETS DISPLAY                               USD                       0.00   11                     0.00 ND
NEWS NETWORK ACCESS FEE                                 USD                     260.00   1                    260.00
REUTERS TREASURY SERVICE                                USD                      75.00   22                 1,650.00
REUTERS PLUS LEVEL I COMPLETE W/NEWS                    USD                     175.00   22                 3,850.00
Currency:          Total Monthly Subscription                           Total Non Discounted
     USD                              5,760.00                                        150.00
</TABLE>

                                                                          Page 1
<PAGE>   45

REUTERS GLOBAL AGREEMENT 3                      SCHEDULE A

Client: Instinet                                        Address
Branch:
        US39616 Instinet (US)                           40 East 52nd Street
                                                        New York
2000 Discount:  16.50                                   NY
Currency:       USD
City:   NEW YORK

Date:   01 January 2001

<TABLE>
<CAPTION>
Description                                             Curr            Unit Price      Qty             Subscription
<S>                                                     <C>                     <C>      <C>                <C>
REUTERS PLUS SITE CHARGE                                USD                     300.00   1                    300.00
REUTERS TREASURY SERVICE                                USD                      75.00   20                 1,500.00
REUTERS PLUS LEVEL I COMPLETE W/NEWS                    USD                     175.00   20                 3,500.00
REUTERS PLUS SERVER                                     USD                     500.00   1                    500.00 ND
REUTERS PLUS SERVER                                     USD                     550.00   1                    550.00 ND
Currency:          Total Monthly Subscription                           Total Non Discounted
     USD                              5,300.00                                      1,050.00
</TABLE>

                                                                          Page 1
<PAGE>   46

REUTERS GLOBAL AGREEMENT 3                      SCHEDULE A

Client: Instinet                                        Address
Branch:
        US39684 Instinet (US)                           40 East 52nd Street
                                                        New York
2000 Discount:  16.50                                   NY
Currency:       USD
City:   NEW YORK

Date:   01 January 2001

<TABLE>
<CAPTION>
Description                                             Curr            Unit Price      Qty             Subscription
<S>                                                     <C>                     <C>      <C>                <C>
REUTERS PLUS LEVEL I COMPLETE W/NEWS                    USD                     175.00   50                 8,750.00
REUTERS TREASURY SERVICE                                USD                      75.00   50                 3,750.00
PINK SHEETS PER SERVER                                  USD                     150.00   1                    150.00 ND
SPEC. PINK SHEETS DISPLAY                               USD                       0.00   50                     0.00 ND
REUTERS PLUS SERVER                                     USD                     500.00   2                  1,000.00 ND
Currency:          Total Monthly Subscription                           Total Non Discounted
     USD                             12,500.00                                      1,150.00
</TABLE>

                                                                          Page 1
<PAGE>   47

REUTERS GLOBAL AGREEMENT 3                      SCHEDULE A

Client: Instinet                                        Address
Branch:
        US39737 Instinet (US)                           One World Trade Center
                                                        New York
2000 Discount:  16.50                                   NY
Currency:       USD
City:   NEW YORK

Date:   01 January 2001

<TABLE>
<CAPTION>
Description                                             Curr            Unit Price      Qty             Subscription
<S>                                                     <C>                     <C>      <C>                  <C>
REUTERS PLUS SERVER                                     USD                     500.00   1                    500.00 ND
REUTERS PLUS SITE CHARGE                                USD                     300.00   1                    300.00
Currency:          Total Monthly Subscription                           Total Non Discounted
     USD                                300.00                                        500.00
</TABLE>

                                                                          Page 1
<PAGE>   48

REUTERS GLOBAL AGREEMENT 3                      SCHEDULE A

Client: Instinet                                        Address
Branch:
        US41389 Instinet (US)                           40 East 52nd Street
                                                        New York
2000 Discount:  16.50                                   NY
Currency:       USD
City:   NEW YORK

Date:   01 January 2001

<TABLE>
<CAPTION>
Description                                             Curr            Unit Price      Qty             Subscription
<S>                                                     <C>                     <C>      <C>                <C>
REUTERS PLUS SERVER                                     USD                     300.00   1                    300.00
REUTERS PLUS SITE CHARGE                                USD                     550.00   2                  1,100.00
Currency:          Total Monthly Subscription                           Total Non Discounted
     USD                              1,400.00                                          0.00
</TABLE>

                                                                          Page 1
<PAGE>   49

REUTERS GLOBAL AGREEMENT 3                      SCHEDULE A

Client: Instinet                                        Address
Branch:
        VZ60164 Instinet (VENEZUELA)                    40 East 52nd Street
                                                        New York
2000 Discount:  16.50                                   NY
Currency:       USD
City:   NEW YORK

Date:   01 January 2001

<TABLE>
<CAPTION>
Description                                             Curr            Unit Price      Qty             Subscription
<S>                                                     <C>                   <C>        <C>                <C>
SITE FEE                                                USD                   5,225.00   1                  5,225.00
Currency:          Total Monthly Subscription                           Total Non Discounted
     USD                              5,225.00                                          0.00
</TABLE>

                                                                          Page 1
<PAGE>   50

REUTERS GLOBAL AGREEMENT 3                        SCHEDULE A

Client: Instinet                                          Address

Branch:
       CAO2166 Instinet Canada                            2 First Canadian Place
                                                          Toronto
2000 Discount: 16.50                                      ON
Currency: CAD                                             M5X 1E3
City: TORONTO

Date:        01 January 2001

<TABLE>
<CAPTION>
Description                             Curr      Unit Price            Qty     Subscription
<S>                                     <C>               <C>           <C>         <C>
NETWORKED BROADCAST RT CONCENTRATOR     CAD                 0.00        3               0.00
NBRT SERVER CONCENTRATOR MODE           CAD                 0.00        2               0.00
BROADCAST NRT(NO HDW) CONCENTRATOR M    CAD                 0.00        4               0.00
NETWORKED RT MARKETS 2000 (NO HW) NRT   CAD               130.00        4             520.00
CANADIAN DOMESTIC NEWS TERMINAL ACCESS  CAD                50.00        2             100.00
NEWS, N A SECURITIES                    CAD                50.00        2             100.00
NETWORKED TERMINAL NA SECURITIES        CAD               410.00        1             410.00
CXTRADER APPLICATION - ORDER ENTRY      CAD               750.00        6           4,500.00
CXT NA SECURITIES, I-25 USERS           CAD               195.00        4             780.00
CXT NA SECURITIES, I-25 USERS           CAD                 0.00        2               0.00
CXT PC EQUIPMENT RENTAL CHARGE          CAD               190.00        6           1,140.00 ND
NETWORKED TERMINAL NA SECURITIES        CAD               375.00        1             375.00
NETWORKED TERMINAL NA SECURITIES        CAD                 0.00        1               0.00
CXT NA SECURITIES NEWS                  CAD                50.00        4             200.00
CXT NA SECURITIES NEWS                  CAD                 0.00        2               0.00
HARDWARE: 16MB MEMORY                   CAD                 0.00        1               0.00
NETWORKED TERMINAL NA SECURITIES        CAD                 0.00        1               0.00
NEWS, N A SECURITIES                    CAD                 0.00        1               0.00
CANADIAN DOMESTIC NEWS TERMINAL ACCESS  CAD                 0.00        1               0.00
SITE FEE                                CAD               500.00        1             500.00
</TABLE>
 Currency:      Total Monthly Subscription                  Total Non Discounted
     CAD                                7,485.00                1,140.00

                                                                         Page: 1
<PAGE>   51

REUTERS GLOBAL AGREEMENT 3                        SCHEDULE A

Client: Instinet                                           Address

Branch:
       U540646 Instinet Corp.                              875 Third Avenue
                                                           New York
2000 Discount: 16.50                                       NY
Currency: USD
City: NEW YORK

Date:        01 January 2001

<TABLE>
<CAPTION>
Description                             Curr      Unit Price             Qty    Subscription
<S>                                     <C>               <C>            <C>          <C>
BROADCAST NRT (NO HDW) (CONCENTRATOR M) USD                 0.00         1              0.00
SONRT                                   USD                 0.00         1              0.00
NETWORKED RT (NO HDWR) MARKETS 2000     USD               682.00         1            682.00
 Currency:      Total Monthly Subscription                  Total Non Discounted
     USD                                  682.00                   0.00
</TABLE>

                                                                         Page: 1
<PAGE>   52

REUTERS GLOBAL AGREEMENT 3                                SCHEDULE A

Client: Instinet                                          Address
Branch:
      AR27285 Instinet Corporation Banco Frances          875 Third Avenue
                                                          NY
2000 Discount: 16.50
Currency: USD
City: BUENOS AIRES

Date:        01 January 2001

<TABLE>
<CAPTION>
Description                             Curr      Unit Price            Qty     Subscription
<S>                                     <C>                <C>          <C>         <C>
SITE FEE                                USD                7.500 00     1           7,500.00
  Currency:          Total Monthly Subscription             Total Non Discounted
     USD                        7,500.00                          0.00
</TABLE>

                                                                         Page: 1
<PAGE>   53

REUTERS GLOBAL AGREEMENT 3                                  SCHEDULE A

Client: Instinct                                             Address
Branch:
        JP30369   Instinet Japan Limited Tokyo Branch        Roppongi First Bldg
                                                             1-9-9 Roppongi
2000 Discount: 16.50                                         Minato-Ku
Currency: JPY                                                106-0032
City:  TOKYO                                                 Tokyo 103

Date: 01 January 2001

<TABLE>
<CAPTION>
Description                                               Curr         Unit Price         Qty          Subscription
<S>                                                       <C>                 <C>         <C>             <C>
DATA NETWORK FEE - KOBRA                                  JPY                 85,000.00   1               85,000.00
REUTERSCOOP - DATA ACCESS FEE (DF)                        JPY                 10,000.00   9               90,000.00
MARKETS 3000 ACCESS (I-5O)                                JPY                110,000.00   3               330,00.00
REUTERS GRAPHICS PROFESSIONAL V3.6                        JPY                 25,000.00   1               25,000.00
SECURITIES 3000 DATAFEED                                  JPY                 80,000.00   4              320,000.00
REUTERS SITE FEE                                          JPY                 55,000.00   1               55,000.00
REUTERFIRST CAPITAL MARKETS-DAF(DF)                       JPY                 35.000.00   1               35,000.00
AMS BOX CHARGE                                            JPY                 35.000.00   2               70,000.00
REUTER BUSINESS BRIEFING ON SESSIONSERVER-lO HOURS        JPY                 45,000.00   1               45,000.00
RFTV COMMUNICATIONS                                       JPY                100,000.00   1              100,000.00
DATA NETWORK FEE - RTW 3000 SOFTWARE ONLY                 JPY                 50,000.00   1               50,000.00
DATA NETWORK FEE - RTW 30(1(1                             JPY                 75.000.00   12             900,000.00
DUAL SCREEN WITH LIQUID 15 FLAT SCREEN                    JPY                 20,000.00   3               60,000.00
REUTERSCOOP - REDISTRIBUTION FEE - TARIFF 1/2             JPY                 50,000.00   1               50,000.00
REUTERFIRST SECURITIES - DAF (DF)                         JPY                 20,000.00   7              140,000.00
 Currency:           Total Monthly Subscription              Total Non Discounted
     JPY                           2,355,000.00                             0.00
</TABLE>

                                                                         Page: 1
<PAGE>   54

<TABLE>
<CAPTION>
REUTERS GLOBAL AGREEMENT 3                        SCHEDULE A

Client: Instinet                                           Address
Branch:
       HK26412 Instinet Pacific Services Ltd               Rm 1508, Two Exchange Square
                                                           8 Connaught Place
2000 Discount:  16.50                                      Hong Kong
Currency:    HKD
City: HONG KONG

Date:        01 January' 2001

Description                             Curr    Unit Price         Qty     Subscription
<S>                                     <C>              <C>       <C>     <C>
MARKETS 3000 ACCESS (I-5O)              HKD              8,200.00  1        8,200.00
REUTERS SITE FEE                        HKD              3,900.00  1        3,900.00
SF W/S CHG-SECURITIES 3000(BAND I)      HKD              5,600.00  8       44,800.00
SF SUP. CHG(TARIFF U)- CH.FIN NEWS      HKD              2,000.00  1        2,000.00
SF W/S CHG(TARIFF U)-CHINA FIN.NEWS     HKD                250.00  9        2,250.00
SF W/S CHG(TARIFF U)- CHINA FIN.NEWS    HKD                250.00  7        1,750.00
SELECTFEED PLUS MODEL C(3000)           HKD              3,900.00  1        3,900.00
SELECTFEED PLUS MODEL C (3000)          HKD              3,900.00  1        3,900.00
SF W/S CHG-SEC.FOCUS ASIA(BAND 1)       HKD              3,900.00  4       15,600.00
SF W/S CHG-SEC.FOCUS ASIA(BAND 1)       HKD              3,900.00  3       11,700.00
TRIARCH SW - KOBRA(SOFTWARE)            HKD              1,396.00  1        1,396.00
TRIARCH - SELECTSERVER                  HKD              4,000.00  1        4,000.00
   Currency:         Total Monthly Subscription          Total Non Discounted
     HKD                               103,396.00                   0.00
</TABLE>

                                                                         Page: 1
<PAGE>   55

REUTERS GLOBAL AGREEMENT 3         SCHEDULE A

Client: Instinet                                Address
Branch:
    CH05214 Instinet Schweiz AG                 Raemistrasse
                                                8088 Zuerich
2000 Discount:      16.50
Currency:      CHF
City:      ZURICH

Date:      01 January 2001

<TABLE>
<CAPTION>
Description                          Curr      Unit Price      Qty      Subscription
<S>                                  <C>           <C>         <C>            <C>
S&P MARKETSCOPE EUR SITE FEE         CHF           240.00      1              240.00 ND
MARKETS 2000 SERVICE                 CHF             0.00      1                0.00
SWISS INVESTOR NEWS ON ADD KS        CHF             0.00      1                0.00
MARKETS NEWS ON ADD. KEYSTATION      CHF             0.00      1                0.00
MARKETS 2000 SERVICE                 CHF             0.00      1                0.00
SWISS INVESTOR NEWS ON ADD KS        CHF             0.00      1                0.00
MARKETS NEWS ON ADD. KEYSTATION      CHF             0.00      1                0.00
MARKETS 2000 SERVICE                 CHF             0.00      1                0.00
SWISS INVESTOR NEWS ON ADD KS        CHF             0.00      1                0.00
MARKETS NEWS ON ADD. KEYSTATION      CHF             0.00      1                0.00
MARKETS 2000 SERVICE                 CHF             0.00      1                0.00
MARKETS NEWS ON ADD. KEYSTATION      CHF             0.00      1                0.00
MARKETS 2000 SERVICE                 CHF             0.00      1                0.00
SWISS INVESTOR NEWS ON ADD KS        CHF             0.00      1                0.00
MARKETS NEWS ON ADD. KEYSTATION      CHF             0.00      1                0.00
MARKETS 2000 SERVICE                 CHF             0.00      1                0.00
SWISS INVESTOR NEWS ON ADD KS        CHF             0.00      1                0.00
MARKETS NEWS ON ADD KEYSTATION       CHF             0.00      1                0.00
MARKETS 2000 SERVICE                 CHF             0.00      1                0.00
SWISS INVESTOR NEWS ON ADD KS        CHF             0.00      1                0.00
MARKETS NEWS ON ADD. KEYSTATION      CHF             0.00      1                0.00
SESSIONSERVER                        CHF             0.00      1                0.00
  Currency: Total Monthly Subscription         Total Non Discounted
      CHF                              0.00                  240.00
</TABLE>

                                                                         Page: 1
<PAGE>   56

REUTERS GLOBAL AGREEMENT 3         SCHEDULE A

Client: Instinet                                Address
Branch:
      UK14644 Instinet UK Ltd                   1st Floor Commodity Quay
                                                East Smithfield
2000 Discount:      16.50                       London
Currency:      GBP
City:      LONDON

Date:      01 January 2001

<TABLE>
<CAPTION>
Description                          Curr      Unit Price      Qty      Subscription
<S>                                  <C>          <C>          <C>         <C>
RTW 32 V3.81 EXCLUDING SSL           GBP             64.00     114          7,296.00
SSL RUNTIME LICENCE 4.0              GBP             30.00     114          3,420.00
XTRA-R DF USER ACC (RTW32 PPP)       GBP            800.00       2          1,600.00
SECURITIES 2000 EUROPEAN SL          GBP            500.00       1            500.00
REUTERS GRAPHICS PRO V3.7            GBP            100.00       6            600.00
PDD V3.62                            GBP             26.00     189          4,914.00
SECURITIES 2000 FAR EAST SL          GBP            500.00       1            500.00
SELECTSERVER 9600 SLOT PREMIUM       GBP          1,045.00       1          1,045.00
SECURITIES NEWS 1ST                  GBP            525.00       1            525.00
RFTV SATELLITE DELIVERY              GBP            300.00       1            300.00
REUTERSCOOP 2000                     GBP            300.00       1            300.00
REUTERS SITE FEE                     GBP            330.00       1            330.00
XTRA DF USER ACCESS(KOBRA PPP)       GBP            800.00       1            800.00
STORY BROADCAST SDS4 BOX             GBP            320.00       1            320.00
SSL RUNTIME LICENCE V4.5             GBP             30.00      14            420.00
SFP SDS4 ADD BOX FULL ACCESS         GBP            320.00       1            320.00
S'FEED PLUS 9600 SLOT WL 3000        GBP          4,010.00       1          4,010.00
MARKETS 3000 DATAFEED ACCESS         GBP            639.00      24         15,336.00
LXT USER S/W (RTW/PTW)               GBP            150.00       6            900.00
LON EXCH TRADER SYR (STANDBY)        GBP            200.00       2            400.00
KOBRA V3.0 REAL-TIME WORKSTATN       GBP             80.00      14          1,120.00
GERMAN WORLD SERVICE SL              GBP            274.00       1            274.00
EQUITY FOCUS - (IDN ONLY) SL         GBP            150.00       1            150.00
BENELUX WORLD SERVICE SL             GBP            274.00       1            274.00
SEC2000 NORTH AMERICAN SL            GBP            500.00       1            500.00
PTW 4 PDD                            GBP             27.00       4            108.00
POWERPLUS32 FOR EXCEL D/F            GBP             85.00       2            170.00
POWERPLUS PRO D/F (FOR KOBRA)        GBP            125.00      14          1,750.00
MARKETS 3000 DF                      GBP            639.00     109         69,651.00
SEC2000 FULL SERVICE SL              GBP            800.00       1            800.00
SCREEN INSIDER SL                    GBP            410.00       1            410.00 ND
S & P MARKETSCOPE SL                 GBP            135.00       1            135.00 ND
S & P MARKETSCOPE EUROPEAN SL        GBP            105.00       1            105.00 ND
S & P MARKETSCOPE EUROPEAN DF        GBP            200.00      10          2,000.00 ND
S & P MARKETSCOPE DF                 GBP            105.00       2            210.00 ND
RVALUS VALIDATED L 1 BASIC           GBP            270.00       1            270.00
RTW 32 V3.63 INCLUDING SSL           GBP             94.00     118         11,092.00
SESSIONSERVER ADD BOX                GBP            250.00       1            250.00
  Currency:       Total Monthly Subscription          Total Non Discounted
      GBP                                 130,245.00              2,860.00
</TABLE>

                                                                         Page: 1
<PAGE>   57

REUTERS GLOBAL AGREEMENT 3         SCHEDULE A

Client: Instinet                                Address
Branch:
      UK37154 Instinet UK Ltd                   Blackwall Yard
                                                Blackwall Way
2000 Discount:      16.50                       Poplar
Currency:      GBP
City:      LONDON

Date:      01 January 2001

<TABLE>
<CAPTION>
Description                          Curr      Unit Price      Qty      Subscription
<S>                                  <C>         <C>           <C>         <C>
EQUITY FOCUS+(IDN ONLY) SL           GBP           150.00      1              150.00
GERMAN WORLD SERVICE SL              GBP           274.00      1              274.00
MONEY 2000 SL                        GBP           525.00      1              525.00
SCREEN INSIDER SL                    GBP           410.00      1              410.00 ND
SEC2000 FULL SERVICE SL              GBP           800.00      1              800.00
SEC2000 NORTH AMERICAN SL            GBP           500.00      1              500.00
SECURITIES 2000 EUROPEAN SL          GBP           500.00      1              500.00
SECURITIES 2000 FAR EAST SL          GBP           500.00      1              500.00
S'FEED PLUS 9600 SLOT W'LIST         GBP         3,334.00      7           23,338.00
SFP SDS4 ADD BOX FULL ACCESS         GBP           320.00      4            1,280.00
SFP SDS4 1ST BOX FULL ACCESS         GBP             0.00      3                0.00
SFEED PLUS SESSION SDS4 FULL         GBP             0.00      7                0.00
SEC2000 OPTIONS                      GBP             0.00      1                0.00
SELECTSERVER SOFTWARE                GBP             0.00      3                0.00
  Currency:       Total Monthly Subscription          Total Non Discounted
      GBP                                 27,867.00                 410.00
</TABLE>

                                                                         Page: 1
<PAGE>   58

REUTERS GLOBAL AGREEMENT 3                 SCHEDULE A

Client: Instinet                                Address
Branch:
      US16727    Instinet-US                    875 Third Avenue
                                                New York
2000 Discount:          16.50                   NY
Currency:         USD
City:       NEW YORK

Date:       01 January 2001

<TABLE>
<CAPTION>
Description                               Curr      Unit Price     Qty      Subscription
<S>                                       <C>        <C>           <C>         <C>
RDF HOT STANDBY 25000 WATCHLIST           USD        52,500.00     1           52,500.00
REUTERS DATAFEED 500,000 WATCHLIST        USD             0.00     1                0.00
MARKETS 2000 DATAFEED ACCESS              USD           970.00     3            2,910.00
MARKETS 2000                              USD         2,040.00     1            2,040.00
MARKETS 2000                              USD             0.00     13               0.00
RDF 500,000 WATCH LIST FEE                USD         5,850.00     1            5,850.00
REUTERS DATAFEED W/3RD PARTY ENTITLE      USD             0.00     3                0.00
SITE FEE                                  USD         1,545.00     1            1,545.00
SELECTSERVER BRD BACKLINK HARDWARE        USD             0.00     1                0.00 ND
SELECTFEED PLUS CACHE CHARGE              USD         2,650.00     2            5,300.00
SELECTFEED PLUS CACHE CHARGE              USD         2,250.00     2            4,500.00
REUTERS DATAFEED HARDWARE                 USD             0.00     5                0.00
REUTERS DATAFEED PC CONSOLE               USD             0.00     3                0.00
BROADCAST DATA STREAM EMERGENCY RICS      USD             0.00     3                0.00 ND
REUTERS DATAFEED CACHE CHARGE             USD             0.00     1                0.00
REUTERS DATAFEED SUPPLEMENTAL DEVICE      USD         7,500.00     1            7,500.00
SFP BCST STORY BROADCAST MODE             USD             0.00     1                0.00
NETWORKED BROADCAST RT SERVER             USD             0.00     1                0.00 ND
SELECTFEED PLUS HARDWARE                  USD             0.00     1                0.00 ND
SELECTFEED PLUS - UNLIMITED PAGES         USD             0.00     1                0.00 ND
SELECTFEED PLUS 9600 RICS                 USD             0.00     1                0.00 ND
REUTERS DATAFEED W/3RD PARTY ENTITLE      USD             0.00     9                0.00
REUTERS DATAFEED                          USD             0.00     1                0.00
  Currency:       Total Monthly Subscription          Total Non Discounted
      USD                                 82,145.00               0.00
</TABLE>

                                                                         Page: 1
<PAGE>   59

REUTERS GLOBAL AGREEMENT 3         SCHEDULE A

Client: Instinet                                            Address
Branch:
      US336491 Instinet-Production & Development            875 Third Avenue
                                                            New York
2000 Discount:      16.50                                   NY
Currency:      USD
City:      NEW YORK

Date:      01 January 2001

<TABLE>
<CAPTION>
Description                               Curr      Unit Price     Qty      Subscription
<S>                                       <C>        <C>           <C>         <C>
ROF 500,000 WATCHLIST FEE                 USD        5,850.00        1          5,850.00
SOFTWARE RENTAL (KOBRA)                   USD          140.00       26          3,640.00
SOFTWARE RENTAL (RTW)                     USD          121.00       25          3,025.00
SOFTWARE RENTAL (RTW)                     USD          155.00      105         16,275.00
MARKETS 2000                              USD            0.00        4              0.00
PR NEWSWIRE / BUSINESS WIRE SERVICE       USD            0.00        2              0.00
REUTERS DATAFEED MEMORY UPGRADE           USD            0.00        1              0.00
BROADCAST DATA STREAM EMERGENCY RICS      USD            0.00        4              0.00
REUTERS DATAFEED PC CONSOLE               USD            0.00        1              0.00
REUTERS DATAFEED HARDWARE                 USD            0.00        1              0.00
SESSIONSERVER                             USD            0.00        3              0.00
SELECTFEED PLUS STORYBRDCST PC            USD          540.00        2          1,080.00
MARKETFEED BOX                            USD            0.00        2              0.00
REUTERS DATAFEED TRIARCH W/DACS           USD            0.00        5              0.00
SFP BCST STORY BROADCAST MODE             USD            0.00        2              0.00
SELECTFEED - 600 RJCS                     USD            0.00        2              0.00 ND
SELECTFEED PLUS - UNLIMITED PAGES         USD            0.00        2              0.00 ND
REUTERS 3000IP WORKSTATION                USD            0.00        2              0.00
MARKETS 3000 SOFTWARE (IP)                USD            0.00        2              0.00
MARKETS 3000 USER (IP)                    USD        1,210.00        2          2,420.00
REUTER 3000 MONEY                         USD            0.00        2              0.00
SELECTFEED -600 RICS                      USD            0.00        2              0.00 ND
  Currency:       Total Monthly Subscription          Total Non Discounted
      USD                                 32,290.00               0.00
</TABLE>

                                                                         Page: 1
<PAGE>   60

SCHEDULE B

--------------------------------------------------------------------------------

You hereby represent and warrant that the following are the only Sites and
Recipient Locations of yours receiving the Service at the Commencement Date
under this Agreement:

[List all Sites and Recipient Locations]

[Name]                                          [Address]
<PAGE>   61

Schedule B - Negotiated

<TABLE>
<CAPTION>
Loc code    Location name                                   City              Country
<S>         <C>                                             <C>               <C>
AR27285     Instinet Corporation/Banco Frances              BUENOS AIRES      Argentina
CA02166     Instinet Canada                                 TORONTO           Canada
CH05214     Instinet Schweiz AG                             ZURICH            Switzerland
FD66051     Instinet (Germany)                              FRANKFURT         Germany
FR08728     Instinet (France)                               PARIS             France
HK26412     Instinet Pacific Services Ltd                   HONG KONG         Hong Kong
JP30369     Instinet Japan Limited Tokyo Branch             TOKYO             Japan
UK14644     Instinet UK Ltd                                 LONDON            United Kingdom
UK37154     Instinet UK Ltd                                 LONDON            United Kingdom
US16727     Instinet-US                                     NEW YORK          USA
US18634     Instinet (US)                                   NEW YORK          USA
US33691     Instinet - Production & Development             NEW YORK          USA
US34530     Instinet - Production & Development             NEW YORK          USA
US35699     Instinet - Production & Development             NEW YORK          USA
US35918     Instinet - Production & Development             NEW YORK          USA
US37239     Instinet (US)                                   NEW YORK          USA
US37685     Instinet (US)                                   NEW YORK          USA
US38412     Instinet - Production & Development             NEW YORK          USA
US38962     Instinet (US)                                   NEW YORK          USA
US39615     Instinet (US)                                   NEW YORK          USA
US39616     Instinet (US)                                   NEW YORK          USA
US39684     Instinet (US)                                   NEW YORK          USA
US39737     Instinet (US)                                   NEW YORK          USA
US40646     Instinet Corp.                                  NEW YORK          USA
US41389     Instinet (US)                                   NEW YORK          USA
US42367     Instinet                                        NEW YORK          USA
VZ60164     Instinet (Venezuela)                            CARACAS           Venezuela
</TABLE>
<PAGE>   62

SCHEDULE C

--------------------------------------------------------------------------------

Indonesia         Antara News Agency
<PAGE>   63

SCHEDULE D

--------------------------------------------------------------------------------

The Discount
------------

<TABLE>
<CAPTION>
2000 Annual Service Fees                  DISCOUNT %
US$ Million
---------------                           ----------------
<S>                                       <C>
6.0                                       9.0%
6.6                                       10.5%
7.2                                       12.0%
8.0                                       13.5%
8.8                                       14.5%
9.6                                       15.3%
10.6                                      16.0%
11.6                                      16.5%
12.8                                      16.8%
14.2                                      17.1%
15.5                                      17.3%
17.0                                      17.6%
18.8                                      17.9%
20.6                                      18.2%
22.7                                      18.5%
25.0                                      18.8%
27.4                                      19.1%
30.3                                      19.4%
33.2                                      19.6%
34.9                                      19.8%
36.6                                      19.9%
38.5                                      20.1%
40.3                                      20.3%
42.4                                      20.4%
44.5                                      20.6%
46.8                                      20.8%
49.1                                      20.9%
51.5                                      21.1%
54.2                                      21.3%
56.8                                      21.5%
59.7                                      21.6%
62.6                                      21.8%
65.8                                      22.0%
</TABLE>
<PAGE>   64

AS WITNESS the hands of the duly authorised representatives of the parties
hereto.

SIGNED
for and on behalf of
INSTINET GLOBAL HOLDINGS, INC.

                                      /s/ John Oddie
                                      ------------------------------------------

                                      Name: John Oddie
                                            ------------------------------------
                                      Title: CEO of Global Equities
                                             -----------------------------------
                                      Date: 12/26/00
                                            ------------------------------------

SIGNED
for and on behalf of
REUTERS LIMITED

                                      /s/ H. Wenzel
                                      ------------------------------------------
                                      Name: H. Wenzel
                                            ------------------------------------
                                      Title: Dir. Contract Mgt - Global Accounts
                                             -----------------------------------
                                      Date: 22/1/2001
                                            ------------------------------------
<PAGE>   65

REUTERS [LOGO]

                            REDISTRIBUTION ADDENDUM
                          TO REUTERS GLOBAL AGREEMENT

This Addendum to the Reuters Global Agreement dated 21 December 2000 (the
"Agreement") is made the 21st day of December 2000 between us, Reuters Limited
of 85 Fleet Street, London. EC4P 4AJ, England, and you, Instinet Global
Holdings, Inc of 875 Third Avenue, New York, NY 10022.

WHEREAS

A.    You currently have, and wish to continue to be granted the right to
      redistribute Market Data (as defined below), both internally and to your
      Customers (as defined below) via the Instinet Services (as defined below)

B.    Pursuant to Section 2.21(c) of the Reuters Business Principles, we wish to
      continue to grant you the limited right to redistribute Market Data,
      subject to the terms and conditions of this Addendum, and the payment of
      the Service Fees set forth in Schedule A hereto.

THE PARTIES HEREBY AGREE AS FOLLOWS:

1.    Definitions and Interpretation

      In this Addendum:

1.1   "Addendum" means this document.

1.2   "Customer" means any customer of yours who is authorized by you to use the
      Instinet Services.

1.3   "Instinet Services" collectively refers to the Instinet System, the R&A
      Product and any substantially similar products or services.
<PAGE>   66

1.4   "Instinet System" means your real-time trading system which allows your
      Customers to negotiate and execute orders electronically, and includes any
      successor system or service.

1.5   "Letter Agreement" has the meaning set forth in Section 3.10 of this
      Addendum.

1.6   "Market Data" means a subset of Information which is limited to (i) North
      American exchange traded equities and equity derivative price information.
      (ii) International exchange traded equities and equity derivative price
      information, and (iii) our North American Securities News ("NASN")
      product.

1.7   "R&A Product" means your Research and Analysis product, and includes any
      successor product(s).

1.8   "Redistribution Service Fees" means the Service Fees payable by you with
      respect to the rights granted in this Addendum.

1.9   Capitalized terms that are not defined in this Addendum will have the same
      meaning as they bear in the Agreement.

1.10  This Addendum is subject to the terms of the Agreement, including without
      limitation Section 2.2.3 of the Reuters Business Principles. However, in
      the event of any inconsistency between the terms of this Addendum and the
      Agreement in connection with the subject matter of this Addendum, the
      terms of this Addendum shall prevail.

2.    Commencement Date and Term

2.1   This Addendum will take effect on the Commencement Date and will be
      terminable by either party upon 180 days notice to the other party.
      Notwithstanding the foregoing, this Addendum shall terminate immediately
      upon the termination or expiration of the Agreement.

2.2   This Addendum supersedes the terms of any prior agreement. contract,
      proposal or understanding (whether written or oral) between us with
      respect to the matters

                                       2
<PAGE>   67

      addressed herein, except for the Letter Agreement (which will continue in
      effect to the extent provided in Section 3.10 hereof).

3.    General

3.1   You may use, modify, alter, add value to. create derivative works from and
      redistribute Market Data internally and to your Customers via the Instinet
      Services, provided, however, that you shall be responsible for seeking and
      obtaining any licenses, consents or permits required by any exchange or
      other third party prior to redistribution of the Market Data in the manner
      contemplated by this Addendum.

3.2   We acknowledge that we are party to certain agreements with certain third
      parties under which you, as a member of the Reuters Group, are entitled to
      redistribute to your Customers information (which does not include any
      Information supplied to you pursuant to the Agreement) without any
      obligation on your part to seek or obtain any license, consent or permit
      required by any such third party or pay any redistribution fee directly to
      any such third party or to us. We agree to give you not less than 180
      days' prior written notice, or such shorter notice as is reasonably
      practicable, of any change in any such agreement that would result in your
      becoming so obligated.

3.3   You will indemnify and hold us harmless in respect of any loss, damage,
      claim, cause of action, action or other injury (collectively, "Losses")
      arising out of or occurring due to or in connection with the
      redistribution of the Market Data, including, without limitation, any
      Losses incurred by us as a result of your failure to obtain any required
      license, consent or permit from any exchange or other third-party, except
      to the extent that any such Losses result solely from our gross
      negligence, willful misconduct or breach of third party agreement.

3.4   You shall reimburse us upon presentation of reasonable documentation for
      (i) any charges actually imposed upon us by any exchange or other third
      party in connection with the redistribution of Market Data as contemplated
      by this Addendum and (ii) all additional administrative costs actually
      incurred by us as a result of any rule, regulation or other requirement to
      which we are subject (whether by law or contract), but solely to the
      extent that such charges or

                                       3
<PAGE>   68

      administrative costs arise directly from your redistribution of Market
      Data as contemplated hereby.

3.5   For so long as this Addendum remains in full force and effect, we hereby
      grant you the limited right to redistribute Market Data pursuant to
      Section 2.2.1(c) of the Reuters Business Principles, which are
      incorporated into and form a part of the Agreement, but solely to the
      extent necessary to enable you to take the actions expressly contemplated
      by this Addendum.

3.6   The Redistribution Service Fees payable as of the date hereof are set
      forth in Schedule A to this Addendum. The fees set forth on Schedule A are
      based on a minimum of 10,000 Customers accessing Market Data via the
      Instinet Services. subject to Clause 3.11 of the Agreement. We reserve
      the right to discuss and renegotiate the Redistribution Service Fees with
      you if we reasonably believe the total number of Customers accessing
      Market Data via the Instinet Services is less than 10,000 for any two
      consecutive Quarter Dates.

3.7   We both agree that the Redistribution Service Fees will not be discounted
      pursuant to Clause 4.1 of the Agreement but will be included in the Total
      Dollar Service Fees under Clause 4.2 of the Agreement.

3.8   We both acknowledge that the redistribution arrangement contemplated by
      this Addendum (including the amount of the Redistribution Service Fees) is
      unique, reflecting our current ownership relationship.

3.9   We acknowledge that in order to maintain neutrality, transparency and
      anonymity, you cannot disclose any Customer name or identifying
      information to us or any third-party for any reason.

3.10  Reference is made to the letter agreement dated July 13, 1999 between
      Instinet Corporation and Reuters America Inc. relating to the provision of
      NASN as part of Instinet's R&A Product, a copy of which is attached to
      this Addendum as Exhibit A (the "Letter Agreement"). We both agree that
      (i) the Letter Agreement shall continue in full force and effect, except
      that paragraph 2 of Schedule A to the Letter Agreement shall be deleted,
      and (ii) the Charges (as defined in the Letter Agreement) remitted to
      Reuters under the Letter Agreement will not be

                                       4
<PAGE>   69

      discounted pursuant to Clause 4.1 of the Agreement but will be included in
      the Total Dollar Service Fees under Clause 4.2 of the Agreement.

AS WITNESS the hands of the duly authorised representatives of the parties
hereto.

Signed                         )
for and on behalf of           )
Instinet Global Holdings. Inc. )

                                      /s/ John Oddie
                                      ------------------------------------------

                                      Name: John Oddie
                                            ------------------------------------
                                      Title: CEO of Global Equities
                                             -----------------------------------
                                      Date: 12/26/00
                                            ------------------------------------

Signed                         )
for and on behalf of           )
Reuters Limited                )

                                      /s/ H. Wenzel
                                      ------------------------------------------
                                      Name: H. Wenzel
                                            ------------------------------------
                                      Title: Dir. Contract Mgt
                                             -----------------------------------
                                      Date: 28/1/2001
                                            ------------------------------------

                                        REUTERS LIMITED
                                        85 FLEET STREET
                                        LONDON
                                        EC4P 4AJ

                                       5
<PAGE>   70

                                   SCHEDULE A

                          Redistribution Service Fees

Schedule A to the Agreement reflects net cost of North American equities at
$20.00 per user per month: net cost of International equities at $50 per user
per month; and charges for NASN as per Letter Agreement.

                                       6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00023-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00023-of-00352.parquet"}]]