Document:

Exhibit 10.3

                             STOCKHOLDERS AGREEMENT

                  THIS STOCKHOLDERS AGREEMENT (the "Agreement") is entered into
as of June 9, 2002 by and among INSTINET GROUP INCORPORATED, a Delaware
corporation ("Instinet"), REUTERS LIMITED, a company organized under the laws of
England and Wales ("Reuters Limited", REUTERS C CORP., a Delaware corporation
("Reuters C Corp"), REUTERS HOLDINGS SWITZERLAND SA, a company organized under
the laws of Switzerland ("Reuters Holdings"), those entities listed on Exhibit B
hereto under the heading "Bain Entities" (collectively, the "Bain Group"), those
entities listed on Exhibit B hereto under the heading "Silver Lake Entities"
(collectively, the "Silver Lake Group"), those entities listed on Exhibit B
hereto under the heading "TA Entities" (collectively, the "TA Group" and,
together with the Bain Group and the Silver Lake Group, the "Island
Stockholders"), and, solely for purposes of paragraphs (a), (d), (e) and (f) of
Section 2.1, Section 3.4 and Article IV hereof, Edward Nicoll ("Nicoll").

                                    RECITALS

                  WHEREAS, Instinet, Island Holding Company, Inc., a Delaware
corporation ("Island") and Daiquiri Merger Corporation, a Delaware corporation
and a wholly owned subsidiary of Instinet have entered into an Agreement and
Plan of Merger, dated as of the date hereof (as it may be amended, supplemented
or otherwise modified from time to time, the "Merger Agreement").

                  WHEREAS, the parties desire to enter into this Agreement to
set forth their agreement regarding certain corporate governance matters and
certain other matters with respect to the on-going relationship by and among the
parties hereto.

                                   AGREEMENTS

                  NOW, THEREFORE, for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto,
for themselves and their respective successors and permitted assigns, hereby
agree as follows:

                                   ARTICLE I
                                   DEFINITIONS

                  1.1. Definitions. As used in this Agreement, the following
terms will have the following meanings, applicable both to the singular and the
plural forms of the terms described.

                  "Additional Island Director" means any director designated by
any Island Stockholder in connection with an increase in the total number of
directors of Instinet pursuant to the rights provided in Section 2.2(a)(ii).

                  "Affiliate" means, with respect to a given Person, any other
Person that, directly or indirectly, controls, is controlled by, or is under
common control with, such Person. For purposes of this definition and the
definition of "Permitted Transferee," "control" (including, with correlative
meanings, the terms "controlled by" and "under common control with"), as applied
to any Person, means the possession, directly or indirectly, of the power to
vote forty percent (40%) or more of the securities having voting power for the
election of directors (or other Persons acting in similar capacities) of such
Person or otherwise to direct or cause the direction of the management and
policies of such Person, whether through the ownership of voting securities, by
contract or otherwise.

                  "Affiliated Reuters Directors" means those members of the
Board of Directors who have ever been officers or employees of a Reuters Entity
or who otherwise fail to qualify as Nasdaq Independent Directors due to their
relationship with Reuters Parent or any other Reuters Entity, substituting a
ten-year time limit for the time limits in Marketplace Rule 4200(a)(14) of the
Nasdaq Stock Market (or any successor provision of similar effect).

                  "Agreement" has the meaning ascribed thereto in the preamble
hereto, as such agreement may be amended and supplemented from time to time in
accordance with its terms.

                   "Approved Equity Issuance" means any issuance of equity
securities (or any securities convertible into or exchangeable or exercisable
for equity securities) by Instinet that has been approved by a majority of the
members of the Board of Directors.

                  "Bain Group" has the meaning ascribed thereto in the preamble
hereto.

                  "Board of Directors" means the board of directors of Instinet.

                  "Business Day" means any day other than a Saturday, Sunday or
any day on which banking institutions are authorized or obligated by law or
executive order to be closed in London or New York.

                  "Cause" means (a) the commission by an individual of any act
or omission that would constitute a felony or other crime under applicable
federal, state or foreign law determined by the members of the Board of
Directors (excluding the applicable individual, if a director) to be material to
such individual's role at Instinet, (b) the commission by an individual of any
act of moral turpitude, (c) fraud, dishonesty or a breach of fiduciary duty to
Instinet, its Affiliates and/or its stockholders, (d) continued alcohol or other
substance abuse by an individual that renders him incapable of performing his
material duties to the satisfaction of the Board of Directors or (e) any act or
omission by an individual that is a material violation of any applicable federal
or state or other securities law, regulation or rule or of any applicable rule
or regulation of any self-regulatory organization.

                  "Common Stock" means the common stock, par value $0.01 per
share, of Instinet, and any other class of Instinet's capital stock representing
the right to vote generally for the election of directors.

                  "Company Voting Agreement" means the Company Voting Agreement,
dated as of the date hereof, by and among Island, Instinet and those
stockholders of Island set forth on Annex A thereto.

                  "Conflicting Position" means a position as a director,
officer, partner, member or employee of any Person that is reasonably deemed by
the Nominating Committee of the Board of Directors to be a competitor of
Instinet, it being understood that the Nominating Committee may consider a
Person to be a "competitor" for this purpose if such Person designs, uses or
provides technology or intellectual property that serves similar purposes as or
could be used in place of any technology or intellectual property used in and
significant to the business of the Instinet Entities and the Nominating
Committee reasonably concludes that a nominee's ability to perform his or her
duties as a director, and otherwise act in the best interests of Instinet, could
be compromised by reason of his or her position as a director, officer, partner,
member or employee of such Person.

                  "Corporate Agreement" means the Amended and Restated Corporate
Agreement, dated as of the date hereof, by and between Reuters Limited and
Instinet, as the same may be further amended, supplemented or otherwise modified
from time to time in accordance with this Agreement.

                  "Datek" means Datek Online Holdings Corp., a Delaware
corporation.

                  "Datek Shares" means shares of the Class X Common Stock, par
value $.001 per share, of Datek, or any other security that is issued, directly
or indirectly, by Datek which represents only the right to receive capital stock
of Island directly or indirectly from Datek and that are held by a Holder that
has not withdrawn from this Agreement pursuant to Section 4.11.

                  "Datek Stockholders Agreement" means that certain Datek
Stockholders Agreement, dated as of the date hereof, by and among Instinet,
Reuters Limited and Datek, as the same may be amended, supplemented or otherwise
modified from time to time.

                  "Derivative Transaction" means any transaction involving a
security linked to the Common Stock, including any equity swap, put, put
equivalent, collar, sale of exchangeable security or similar transaction.

                  "Designated Independent Directors" has the meaning ascribed
thereto in Section 2.2(k).

                  "Effective Time" has the meaning ascribed thereto in the
Merger Agreement.

                  "Exchange Act" means the Securities Exchange Act of 1934, as
amended, or any successor statute.

                  "Holder" means each of the Island Stockholders, any Permitted
Transferee of such Island Stockholder who becomes an owner of Subject Shares, in
each case for so long as such Person owns Subject Shares and has not withdrawn
from the Agreement pursuant to Section 4.11.

                  "Initial Share Holding Period" has the meaning ascribed
thereto in Section 2.1(a).

                  "Instinet" has the meaning ascribed thereto in the preamble
hereto.

                  "Instinet Entities" means Instinet Parent, Instinet and their
respective Subsidiaries from time to time, and "Instinet Entity" shall mean any
of the Instinet Entities; provided, however, in each case, that any such
Instinet Entity shall cease to be a "Instinet Entity" under this Agreement at
such time as such Person no longer is a Subsidiary of Instinet Parent or
Instinet, as the case may be.

                  "Instinet Parent" means any Person who succeeds Instinet as
the parent corporation of the Instinet Entities as a result of a corporate
reorganization, merger or otherwise.

                  "Island" has the meaning ascribed thereto in the preamble
hereto.

                  "Island Designees" means those individuals designated by the
Bain Group, the Silver Lake Group and/or the TA Group pursuant to Section 2.2
and nominated by Instinet as directors.

                  "Island Director" means any director of Instinet who has been
designated by a Island Stockholder in accordance with the provisions of Section
2.2.

                  "Island Stockholders" has the meaning ascribed thereto in the
preamble hereto.

                  "Joinder Agreement" has the meaning ascribed thereto in the
definition of "Permitted Transferee."

                  "Legend" has the meaning ascribed thereto in Section 2.1(e).

                  "Market Transaction" means any transaction effected on an
exchange or in the over-the-counter market (as such terms are used in Section
4(4) of the Securities Act), on an "alternative trading system" (as defined in
Regulation ATS) or directly with a "market maker" (as defined in Section
3(a)(38) of the Exchange Act).

                  "Merger Agreement" has the meaning ascribed thereto in the
preamble hereto.

                  "Minimum Designee Amount" means 8,000,000 Subject Shares, as
adjusted at any time and from time to time following the date hereof to account
for any stock split, stock dividend, stock combination or similar event;
provided that for purposes of determining whether each Island Stockholder owns
Subject Shares representing at least the Minimum Designee Amount, shares of
Common Stock owned by Datek shall be deemed to be owned by a Island Stockholder
to the extent of such Island Stockholder's indirect ownership thereof, but only
for so long as the Datek Stockholders Agreement is in full force and effect,
through such Island Stockholder's ownership of capital stock of Datek (which,
for the purpose of calculating the Minimum Designee Amount, shall be that number
of shares of Common Stock that would be received by such Island Stockholder in
connection with a distribution of all shares of Common Stock in respect of the
capital stock of Datek).

                  "Nasdaq Independent Director" means a member of the Board of
Directors who qualifies as an "independent director" under Marketplace Rule
4200(a)(14) of the Nasdaq Stock Market (or any successor provision of similar
effect).

                  "Nicoll" has the meaning ascribed thereto in the preamble
hereto.

                  "Nominating Committee" means the Nominating Committee of the
Board of Directors.

                  "Permitted Transferee" means, in the case of any Holder, (i)
any other Holder or (ii) a corporation, partnership, limited liability company
or similar entity that is directly or indirectly owned and controlled (as such
term is used in the definition of "Affiliate" contained herein) by such Holder;
provided, however, that a transferee of a Holder that is not a Island
Stockholder shall be a Permitted Transferee only if such transferee is also a
Permitted Transferee of the Island Stockholder that originally held the
applicable Subject Shares, and provided, further that in each case (I) such
transferee assumes and agrees to perform and becomes a party to this Agreement
by duly executing an instrument substantially in the form provided as Exhibit A
attached hereto (a "Joinder Agreement") if not already a party hereto and (II)
the transferring Holder has complied with Section 4.10.

                  "Person" means any individual, partnership, limited liability
company, joint venture, corporation, trust, unincorporated organization,
government (and any department or agency thereof) or other entity.

                  "Public Shares" means the number of shares of Common Stock
equal to the aggregate number of shares of Common Stock outstanding, minus the
aggregate number of (i) shares of Common Stock held by Reuters Entities (ii)
Subject Shares and (iii) other shares of Common Stock (x) that were not
distributed in an offering registered under the Securities Act, for so long as
such shares are subject to the volume and manner of sale restrictions of Rule
144 promulgated under the Securities Act (or any successor provision of similar
effect), or (y) to which the restrictions of Rule 145 under the Securities Act
(or any successor provision of similar effect) then apply.

                  "Registration Rights Agreement" means that certain
Registration Rights Agreement to be entered into by and among Instinet, the
Reuters Parties, the Island Stockholders, Finanzas B.V. and those additional
stockholders of Instinet, if any, party thereto.
                  "Reuters C Corp" has the meaning ascribed thereto in the
preamble hereto.

                  "Reuters Entities" means the Reuters Parent and Subsidiaries
of the Reuters Parent (other than Subsidiaries that constitute Instinet
Entities) from time to time, and "Reuters Entity" shall mean any of the Reuters
Entities; provided, however, in each case, that any Reuters Entity shall cease
to be a "Reuters Entity" under this Agreement at such time as such Person no
longer is a Subsidiary of the Reuters Parent.

                  "Reuters Holders" has the meaning ascribed to the term
"Holders" in the Corporate Agreement.

                  "Reuters Holdings" has the meaning ascribed thereto in the
preamble hereto.

                  "Reuters Limited" has the meaning ascribed thereto in the
preamble hereto.

                   "Reuters Parent" means the ultimate parent entity from time
to time, of Reuters Limited, which is currently Reuters Group PLC.

                  "Reuters Party" means each of Reuters Limited, Reuters C Corp,
Reuters Holdings, or any other Reuters Entity to which a Reuters Party transfers
shares of Common Stock or which acquires shares of Common Stock (other than any
Reuters Entity not wholly owned, directly or indirectly, by Reuters Parent that
pursuant to Section 2.2(c)(ii) is not required to execute a Joinder Agreement in
which it agrees to be treated as a Reuters Party hereunder, upon such
acquisition), in each case for so long as such Person owns shares of Common
Stock.

                  "Rule 13e-3 Transaction" has the meaning ascribed to such term
in Rule 13e-3 promulgated under the Exchange Act.

                  "SEC" means the United States Securities and Exchange
Commission.

                  "Securities Act" means the Securities Act of 1933, as amended,
or any successor statute.

                  "Silver Lake Group" has the meaning ascribed thereto in the
preamble hereto.

                  "Standstill Agreement" has the meaning ascribed thereto in
Section 2.4(b).

                  "Subject Shares" means all shares of Common Stock originally
acquired by a Island Stockholder or Nicoll pursuant to the Merger Agreement or
in respect of such Island Stockholder's or Nicoll's interest in Datek (and any
additional shares of Common Stock issued in respect of such shares subsequent to
the Effective Time pursuant to a stock dividend, subdivision, reclassification,
recapitalization, split, combination or exchange of shares or any similar event)
that are held by a Holder that has not withdrawn from this Agreement pursuant to
Section 4.11.

                  "Subsidiary" means, as to any Person, any corporation,
association, partnership, joint venture or other business entity of which more
than 50% of the voting power of capital stock or other voting ownership
interests entitled (without regard to the occurrence of any contingency) to vote
in the election of directors, managers or trustees thereof is owned or
controlled, directly or indirectly, by such Person or by one or more of the
Subsidiaries of such Person or by a combination thereof.

                  "TA Group" has the meaning ascribed thereto in the preamble
hereto.

                  "Total Voting Power of Instinet" means the total number of
votes which may be cast in the election of members of the Board of Directors by
all holders of Common Stock.

                  "Transfer" means, with respect to securities, a transfer,
sale, assignment, pledge, hypothecation or other disposition, whether directly
or indirectly (pursuant to a Derivative Transaction, the creation of a
derivative security, by Transfer of other securities convertible into or
exchangeable or exercisable for, or any right to purchase or acquire, such
security or otherwise), the grant of an option or other right or the imposition
of a restriction on disposition or voting or by operation of law, provided that
a transfer, sale, assignment, pledge, hypothecation or other disposition of
shares of capital stock of Datek, other than Datek Shares, shall not constitute
a Transfer.

                  "Trigger Date" has the meaning ascribed thereto in the
certificate of incorporation of Instinet.

                  1.2. Internal References. Unless the context indicates
otherwise, references to Articles, Sections and paragraphs shall refer to the
corresponding articles, sections and paragraphs in this Agreement and references
to the parties shall mean the parties to this Agreement.

                                   ARTICLE II
                           certain governance matters

                  2.1. Limitations on Transfer.

                  (a) Notwithstanding any other provision of this Agreement,
prior to the earlier to occur of (i) the date which is one year following the
Effective Time and (ii) the date on which Nicoll is terminated by Instinet,
other than in the case of a termination by Instinet for Cause or a termination
with the consent of at least two Island Stockholders then entitled to designate
directors under Section 2.2(a)(i) (the period from the Effective Time to the
earlier to occur of (i) and (ii), the "Initial Share Holding Period"), none of
any Holder or Nicoll shall Transfer any Subject Shares or Datek Shares, and no
Reuters Party shall Transfer any shares of Common Stock, other than (v) in the
case of Nicoll, in connection with estate and family planning so long as the
transferee has executed a Joinder Agreement in which it agrees to be treated as
Nicoll hereunder or by will or other instrument taking effect at death or by
applicable laws of descent and distribution, (w) to any Reuters Party, any other
Reuters Entity that has executed a Joinder Agreement in which it agrees to be
treated as a Reuters Party hereunder, or Instinet, (x) in the case of a transfer
by a Holder or any Reuters Party, to any Island Stockholder or (y) in the case
of a Transfer by a Holder, to a Permitted Transferee of such Holder or (z) in
the case of a Reuters Party, any pledge of any such securities or rights in
connection with bona fide debt financings (other than Derivative Transactions)
with a financial institution, provided that, in each case set forth in clauses
(w), (x) or (y), no such Transfer shall be effected unless and until (I) in the
case of a Transfer by a Island Stockholder, such Island Stockholder has complied
with Section 2.2(h) to the extent such Transfer would affect such Island
Stockholder's rights pursuant to Section 2.2 and (II) Instinet shall have been
furnished with information reasonably satisfactory to it demonstrating that such
Transfer is in compliance with the provisions hereof and any applicable
securities laws and shall have acknowledged such compliance and, in each case
set forth in clause (z), the interest of any such financial institution in such
shares shall be subject to all of the restrictions set forth in this Agreement.

                  (b) Following the expiration of the Initial Share Holding
Period and until the date which is three years following the Effective Time, the
Holders shall not Transfer any Subject Shares in a Market Transaction except in
accordance with and subject to the volume limitations specified in Rule 144(e)
promulgated under the Securities Act (or any successor paragraph or rule of
similar effect), without regard to any time limitations contained in Rule 144(k)
(or any successor paragraph or rule of similar effect), provided that for
purposes of determining compliance with paragraph (e) of Rule 144, all Holders
of Subject Shares shall be deemed to be acting in concert, for the purpose of
selling shares of Common Stock, with all other Holders of Subject Shares.
Notwithstanding the foregoing, the restrictions set forth in this Section 2.1(b)
shall not apply to Transfers by Holders pursuant to an underwritten offering
conducted in accordance with the Registration Rights Agreement.

                  (c) (i) No Holder may Transfer Subject Shares to a Permitted
Transferee of such Holder unless such Permitted Transferee has duly executed a
Joinder Agreement in which it agrees to be treated as a Holder (if not already a
Holder party to this Agreement) and such transferring Holder has complied with
Section 4.10. No Reuters Party may Transfer shares of Common Stock to another
Reuters Entity unless such Reuters Entity has duly executed a Joinder Agreement
in which it agrees to be treated as a Reuters Party (if not already a Reuters
Party party to this Agreement) and such transferring Reuters Party has complied
with Section 4.10.

                  (ii) No Reuters Entity (in the case of Reuters Entities not
             wholly owned, directly or indirectly, by Reuters Parent, to the
             extent that Reuters Limited or Reuters Parent has the power to
             direct such Reuters Entity and such direction is consistent with
             any fiduciary obligations such Reuters Entity might have to third
             parties, it being understood that no Reuters Party shall act
             through or in concert with any such non-wholly owned Reuters
             Entity in any manner inconsistent with such Reuters Party's
             obligations hereunder) may acquire shares of Common Stock from
             any Person unless such Reuters Entity has duly executed a Joinder
             Agreement in which it agrees to be treated as a Reuters Party.

                  (iii) No Reuters Party may Transfer shares of Common Stock
             to a transferee that, alone or together with its Affiliates and
             any "group" (as defined in the Exchange Act) of which such
             transferee or Affiliates is or are a member, acquires from
             Reuters Parties, in a transaction or a series of related
             transactions, a number of shares of Common Stock representing at
             least 10% of the aggregate number of shares of Common Stock then
             outstanding, other than in a Market Transaction or pursuant to
             the exercise by such Party of its registration rights under the
             Corporate Agreement or the Registration Rights Agreement, as
             applicable (excluding pre-arranged transactions in which the
             shares are "crossed", "directed" or otherwise caused to be sold
             to the particular transferee), unless in each case such
             transferee and any such Affiliates and members of such "group"
             agree in writing to be bound by such Reuters Party's obligations
             under Section 2.3(a) with respect to such transferred shares, to
             the same extent applicable to such Reuters Party.

                  (iv) At any time when Reuters Entities own shares of
             Instinet's stock representing 20% or more of the Total Voting
             Power of Instinet, no Reuters Party may Transfer shares of Common
             Stock, in a transaction or a series of related transactions, to a
             transferee that, immediately after giving effect to such Transfer
             would, together with such transferees' Affiliates and any "group"
             (as defined in the Exchange Act) of which such transferee or
             Affiliates is or are a member, have beneficial ownership of
             Instinet's stock representing 35% or more of the Total Voting
             Power of Instinet, other than in a Market Transaction or pursuant
             to the exercise by such Party of its registration rights under
             the Corporate Agreement or the Registration Rights Agreement, as
             applicable (excluding pre-arranged transactions in which the
             shares are "crossed", "directed" or otherwise caused to be sold
             to the particular transferee), unless in each case such
             transferee and any such Affiliates and members of such "group"
             agree in writing to be bound by Section 2.4 to the same extent
             applicable to Reuters Limited (except that (A) the percentage of
             additional shares of Common Stock that may be acquired in
             reliance on clause (w) of Section 2.4(a) following the Transfer
             from such Reuters Party shall be equal to the greater of (i) 40%
             and (ii) that percentage of the Total Voting Power of Instinet
             beneficially owned by such transferee, its Affiliates and any
             such "group" immediately after giving effect to the Transfer from
             such Reuters Party and (B) references in Section 2.4 to Reuters
             Entities and Reuters Parent shall be deemed to refer to Persons
             having an analogous relationship with such transferee and members
             of any such group). Any such agreement by a transferee to be
             bound by Section 2.4 shall not affect the obligations of any
             other Person that otherwise remains subject to Section 2.4 in
             accordance with its terms.

                  (d) The parties hereto hereby acknowledge and agree that
Instinet may impose stop transfer instructions with respect to the shares of
Common Stock subject to the restrictions contained in this Article II in order
to implement the restrictions on Transfers contained herein.

                  (e) (i) Each certificate representing Subject Shares, Datek
Shares and any shares of Common Stock held by any Reuters Party or by a Person
who is required, pursuant to Section 2.1(c)(iii) or Section 2.1(c)(iv), to agree
to be bound by the portions of this Agreement specified in such Sections, will
bear a legend on the face thereof substantially to the following effect (with
such additions thereto or changes therein as Instinet may be advised by counsel
are required by law or necessary to give full effect to this Agreement, the
"Legend"):

                  "THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE
                  STOCKHOLDERS AGREEMENT, DATED AS OF JUNE 9, 2002, AMONG
                  INSTINET GROUP INCORPORATED, REUTERS LIMITED, REUTERS C CORP.,
                  REUTERS HOLDINGS SWITZERLAND SA AND THE OTHER STOCKHOLDERS
                  PARTY THERETO, AS AMENDED AND SUPPLEMENTED FROM TIME TO TIME
                  IN ACCORDANCE WITH THE TERMS THEREOF. THE STOCKHOLDERS
                  AGREEMENT CONTAINS, AMONG OTHER THINGS, CERTAIN PROVISIONS
                  RELATING TO THE VOTING AND TRANSFER OF THE SHARES SUBJECT TO
                  THE AGREEMENT. NO TRANSFER, SALE, ASSIGNMENT, PLEDGE,
                  HYPOTHECATION OR OTHER DISPOSITION OF THE SECURITIES
                  REPRESENTED BY THIS CERTIFICATE, DIRECTLY OR INDIRECTLY, MAY
                  BE MADE EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF SUCH
                  STOCKHOLDERS AGREEMENT. THE HOLDER OF THIS CERTIFICATE, BY
                  ACCEPTANCE OF THIS CERTIFICATE, AGREES TO BE BOUND BY ALL OF
                  THE PROVISIONS OF SUCH STOCKHOLDERS AGREEMENT APPLICABLE TO
                  THE SHARES REPRESENTED BY THIS CERTIFICATE."

                  (ii) Each Reuters Party and any Person who is required,
             pursuant to Section 2.1(c)(iii) or Section 2.1(c)(iv), to agree
             to be bound by the portions of this Agreement specified in such
             Sections will cause any applicable shares of Common Stock, and
             each Holder and Nicoll will cause any Datek Shares or shares of
             Common Stock received by such Holder or Nicoll in respect of such
             Holder's or Nicoll's interest in Datek, in each case held by such
             party at the Effective Time or acquired by such party at any time
             thereafter to be delivered to Instinet for the purpose of
             applying the Legend. Instinet shall return to the delivering
             party, as promptly as possible, any shares so delivered. The
             delivery of such shares by the delivering party shall not in any
             way affect such party's rights with respect to such shares.

                  (iii) The Legend will be promptly removed by (or at the
             direction of) Instinet, with respect to any certificate
             representing shares of Common Stock or Datek Shares, by the
             delivery of substitute certificates without such Legend (w) with
             respect to Subject Shares or any shares of Common Stock held by a
             Reuters Party or by a Person who is required, pursuant to Section
             2.1(c)(iii) or Section 2.1(c)(iv), to agree to be bound by the
             portions of this Agreement specified in such Sections, in the
             event of a Transfer permitted by this Agreement and in which the
             transferee is not required to enter into a Joinder Agreement
             pursuant to the terms of this Agreement or otherwise agree in
             writing to be bound by certain provisions of this Agreement, (x)
             with respect to Subject Shares held by any Holder, following
             termination of this Agreement with respect to such Holder, (y)
             with respect to any Datek Shares, following termination of this
             Agreement with respect to all Subject Shares to which such Datek
             Shares relate or (z) with respect to Subject Shares held by
             Nicoll, following the expiration of the Initial Share Holding
             Period.

                  (f) At least five days prior to any Transfer of shares of
Common Stock during the Initial Share Holding Period, the transferring party
shall give written notice of such Transfer to Instinet, the Holders and the
Reuters Parties. Each such notice required by this paragraph shall describe the
manner of the proposed Transfer and the number and nature of the securities
involved.

                  (g) Any Transfer or successive Transfer of capital stock of
Datek (other than Datek Stock) by an Island Stockholder shall be subject to the
provisions of Section 4(l) of the Company Voting Agreement, to the extent
provided therein.

                  2.2. Seats on Board of Directors.

                  (a) (i) Subject to the other provisions of this Section 2.2,
each of the Bain Group, the Silver Lake Group and the TA Group (in each case,
together with its respective Permitted Transferees (within the meaning of clause
(ii) of the definition thereof) and in each case, for so long as it owns Subject
Shares representing at least the Minimum Designee Amount) shall have the right
to designate one director of Instinet, and Instinet shall cause the nomination
of each of such designees in connection with any election of that class of
directors of Instinet to which such Island Stockholder's initial designee is
elected. Instinet and the Reuters Parties shall take all necessary action to
elect Stephen Pagliuca, Glenn Hutchins and Kevin Landry (or such other
individuals as the Bain Group, the Silver Lake Group and the TA Group,
respectively, may designate prior to the Effective Time, subject to the
provisions of this Section 2.2) as the initial Island Directors effective as of
the Effective Time.

                  (ii) If at any time when the Island Stockholders are
             collectively entitled to designate at least one Island Designee
             pursuant to this Section 2.2, the total number of directors of
             Instinet is changed (excluding, for the purposes of such
             calculation, an increase in the total number of directors of
             Instinet effected in order to add Devin Wenig as a director for
             so long as Mr. Wenig is a director), the number of directors that
             the Island Stockholders shall collectively have the right to
             designate pursuant to this Section 2.2(a) shall as promptly as
             practicable be adjusted to equal the number (rounded up to the
             nearest whole number) equal to (x) the total number of directors
             of Instinet (taking into account any such increase or decrease in
             the total number of directors) multiplied by the number of Island
             Designees which the Island Stockholders are then entitled to
             designate pursuant to Section 2.2(a)(i), divided by (y) thirteen,
             provided, however, that if the total number of directors of
             Instinet after such change in the total number of directors is
             less than thirteen, each of the Island Stockholders shall have
             the right to designate the minimum number of Island Designees
             which such Island Stockholder is then entitled to designate
             pursuant to Section 2.2(a)(i). In the event of any increase in
             the total number of directors that results in the right of the
             Island Stockholders to designate one or more Additional Island
             Directors pursuant to this Section 2.2(a)(ii), the Island
             Stockholders then entitled to designate directors pursuant to
             Section 2.2(a)(i) shall unanimously indicate in writing to
             Instinet which of them is entitled to designate such Additional
             Island Director(s), and the Reuters Parties, Instinet and the
             Island Stockholders shall take all available steps consistent
             with the provisions of this Section 2.2 to effectuate the
             increase in the number of Island Directors as rapidly as
             reasonably possible following the designation of such Additional
             Island Directors in accordance with this Section 2.2. Instinet
             and the Reuters Parties shall use all reasonable efforts to
             provide at least two days' notice to the Island Stockholders
             prior to effecting any increase in the total number of directors
             of Instinet that would entitle the Island Stockholders to
             designate one or more Additional Island Directors pursuant to
             this Section 2.2(a)(ii). The Island Stockholders may provide a
             list of individuals who do not hold Conflicting Positions to the
             Nominating Committee for its consideration as potential
             Additional Island Directors to be designated in the future. The
             Nominating Committee may at any time and from time to time
             consider or reconsider such individuals for approval as directors
             in the event the Island Stockholders have the right to designate
             one or more Additional Island Directors pursuant to this Section
             2.2. Provided such nominee(s) do not have any Conflicting
             Positions, the Reuters Parties and Instinet shall take all
             available steps to elect such nominee(s) and, provided that the
             Island Stockholders notify Instinet and the Reuters Parties of
             their proposed nominee(s) for Additional Island Directors within
             one day following receipt of such notice of increase in total
             number of directors, to do so simultaneously with such increase.

                  (iii) The Island Directors shall be divided as equally as
             possible among the classes of directors provided for in
             Instinet's certificate of incorporation in such manner as the
             Island Stockholders that are then entitled to designate Island
             Designees pursuant to this Section 2.2 unanimously direct
             Instinet in writing or, if such direction is not provided to
             Instinet, in such manner as Instinet shall determine consistent
             with this sentence.

                  (b) No Island Designee may hold a Conflicting Position. In
connection with any election involving a proposed Island Designee, the
applicable Island Stockholder shall comply with the procedures of the Nominating
Committee with respect to such proposed Island Designee, including providing the
Nominating Committee with advance notice of the identity of such proposed Island
Designee and any additional information regarding such proposed Island Designee
as the Nominating Committee may reasonably request; provided that, in connection
with an increase in the total number of directors, no delay by the Nominating
Committee in reviewing and acting with respect to a proposed Island Designee
shall delay or prevent the proposed Island Designee from being added to the
Board of Directors prior to the next meeting of, or taking of action by
unanimous written consent by, the Board of Directors, provided that such Island
Designee does not have a Conflicting Position. In the event that a majority of
the members of the Nominating Committee not affiliated with the applicable
Island Stockholder object to the nomination of a proposed Island Designee, the
applicable Island Stockholder will consider such objection in good faith but may
require the election of such Island Designee, unless such objection is due to
the fact that such Island Designee holds a Conflicting Position, in which case
the applicable Island Stockholder shall withdraw its designation of such
proposed Island Designee. If such Island Stockholder elects, following such
consideration, to withdraw the designation of such proposed Island Designee (or
is required to so withdraw its designation pursuant to the preceding sentence),
such Island Stockholder shall promptly designate a replacement therefor, which
replacement Island Designee shall also be subject to the requirements of this
Section 2.2(b).

                  (c) Except with respect to a vacancy resulting from a removal
or resignation of a Island Director pursuant to Section 2.2(h), if a vacancy of
a position held by a Island Director occurs or exists on the Board of Directors
at any time and for any reason, including but not limited to a vacancy because
of the death, disability, retirement, resignation or removal of any director for
cause or otherwise, then the applicable Island Stockholder shall have the sole
right to designate an individual to fill such vacancy, and, subject to the
requirements of this Section 2.2, Instinet (subject to applicable fiduciary
duties) and the Reuters Parties shall take all available steps to elect such
nominee to fill such vacancy.

                  (d) To the extent permitted by law, Instinet shall use all
reasonable efforts to solicit from the stockholders of Instinet eligible to vote
for the election of directors proxies in favor of the nominees designated by the
Island Stockholders in accordance with this Section 2.2 in each instance in
which the Island Stockholders are entitled to designate directors.

                  (e) At the request of any Island Stockholder, Instinet shall
(x) use all reasonable efforts to (i) seek action by written consent as promptly
as practicable following such request, and the Reuters Parties shall join in
executing any such consent as promptly as practicable following such request, or
(ii) if action by written consent of stockholders is not then permitted by the
certificate of incorporation and bylaws of Instinet, cause a special meeting of
stockholders to be held proposing the removal of any director designated by such
Island Stockholder pursuant to this Section 2.2, provided that if in the
reasonable good faith determination of the Board of Directors it is materially
detrimental to do so, then Instinet may delay calling such special meeting;
provided that Instinet will cause such meeting to be held within 135 days of
such request by such Island Stockholder (and will permit an observer selected by
such Island Stockholder to attend all meetings of the Board of Directors held
during such 135 day period) and (y) to the extent permitted by law, use all
reasonable efforts to solicit from stockholders of Instinet eligible to vote for
the election of directors proxies to remove such specified directors, and the
Reuters Parties shall vote for such removal.

                  (f) In the event of a decrease in the total number of
Additional Island Directors entitled to be designated by the Island Stockholders
in connection with a decrease in the total number of directors pursuant to
Section 2.2(a)(ii) or pursuant to Section 2.2(g), the Island Stockholders then
entitled to designate directors pursuant to Section 2.2(a)(i) shall promptly
determine and unanimously indicate in writing to Instinet which Additional
Island Directors are to be removed. If the Island Stockholders fail to so
indicate in writing within seven days of the event causing such decrease in the
total number of Additional Island Directors, a majority of the members of the
Board of Directors (other than Island Directors) shall determine those
Additional Island Directors to be removed from the Board of Directors (x) based
on the reverse chronological order of the addition of such Additional Island
Directors to the Board of Directors or (y) so as to eliminate Additional Island
Directors in the order in which they will next come up for re-election, at the
option of such majority of the members of the Board of Directors.

                  (g) In the event that any Island Stockholder ceases to own
Subject Shares representing at least the Minimum Designee Amount, (i) the Island
Directors designated by such Island Stockholder shall be subject to removal, and
such Island Stockholder shall take all actions specified in Section 2.2(h) with
respect to such Island Director and (ii) the number of Additional Island
Directors, if any, which the Island Stockholders are then entitled to appoint
shall be recalculated in accordance with Section 2.2(a)(ii) taking into account
the termination of such Island Stockholder's rights, and the applicable Island
Stockholder(s) shall take all appropriate actions pursuant to paragraphs (f) and
(h) of this Section 2.2.

                  (h) Each Island Stockholder entitled to designate any Island
Director who becomes subject to removal pursuant to paragraph (f) or (g) of this
Section 2.2 shall cause such Island Director to immediately offer to tender to
the Board of Directors his or her resignation from the Board of Directors and,
if such resignation is requested by vote of a majority of the members of the
Board of Directors (other than Island Directors), such Island Director shall
immediately tender such resignation as provided in the certificate of
incorporation and bylaws of Instinet. In the event that any Island Director
fails to deliver his or her resignation as required pursuant to this Section
2.2(h), Instinet and the Reuters Parties shall be entitled to take all necessary
and appropriate action to cause such Island Director to be removed. Any vacancy
resulting from a resignation or removal of any Island Director pursuant to this
Section 2.2(h) and not eliminated by a decrease in the total number of directors
shall be filled, if at all, as provided in the certificate of incorporation and
bylaws of Instinet.

                  (i) If following his or her election to the Board of Directors
a Island Director accepts a Conflicting Position or a Conflicting Position held
by such Island Director not previously disclosed to the Board of Directors is
identified, the Island Stockholder entitled to designate such Island Director
shall cause such Island Director to immediately tender his or her resignation
from the Board of Directors as provided in the certificate of incorporation and
bylaws of Instinet. In the event that any Island Director fails to deliver his
or her resignation as required pursuant to this Section 2.2(i), Instinet and the
Reuters Parties shall be entitled to take all necessary and appropriate action
to cause such Island Director to be removed and in such case, the applicable
Island Stockholder shall have the rights set forth in Section 2.2(c).

                  (j) For so long as the Island Stockholders are entitled to
designate at least two Island Designees pursuant to Section 2.2(a)(i), one
Island Director shall be entitled to be nominated to serve on each committee of
the Board of Directors (other than any committee required by law or requirement
of any applicable self-regulatory organization or any stock exchange or
inter-dealer quotation system on which the Common Stock is listed or quoted to
consist solely of independent directors but only to the extent no Island
Director qualifies as an independent director; provided that no Island Director
shall serve on a committee to the extent such individual would be prohibited
from so serving by any such applicable law or requirement). The Island
Stockholders shall designate the Island Director entitled to serve on each
committee by unanimous written agreement delivered to Instinet.

                  (k) Prior to the Effective Time, the Reuters Parties shall
designate in writing three Nasdaq Independent Directors (together with their
successors, the "Designated Independent Directors"). Prior to the earliest to
occur of (i) the date which is three years from the Effective Time, (ii) the
date on which Reuters Entities cease to own shares of Instinet's stock
representing at least 35% of the Total Voting Power of Instinet, and (iii) the
first date on which the Island Stockholders are entitled to designate less than
two Island Designees pursuant to Section 2.2(a)(i), the Reuters Parties shall
vote the shares of Common Stock held by them to re-elect each of, and shall not
vote such shares to remove, any of the Designated Independent Directors, other
than for Cause or if such Designated Independent Director holds a Conflicting
Position, without the consent of at least one of the Island Stockholders then
entitled to designate directors under Section 2.2(a)(i), which consent shall not
be unreasonably withheld or delayed; provided, however, that in the event the
Reuters Parties' obligations under this Section 2.2(k) terminate pursuant to
clause (i) above, the Reuters Parties shall not vote the shares of Common Stock
held by them to remove any Designated Independent Director then serving prior to
the end of his or her then-current term other than for Cause, without the
consent of at least one of the Island Stockholders then entitled to designate
directors under Section 2.2(a)(i), which consent shall not be unreasonably
withheld or delayed. If, during the period specified in the preceding sentence,
a vacancy of a position held by a Designated Independent Director occurs or
exists on the Board of Directors at any time and for any reason, including but
not limited to a vacancy because of the death, disability, retirement,
resignation or removal of such Designated Independent Director, the Reuters
Parties shall vote the shares of Common Stock held by them to elect to such
position a successor Nasdaq Independent Director, designated by the Reuters
Parties and approved by the Nominating Committee and at least one of the Island
Stockholders then entitled to designate directors under Section 2.2(a)(i), which
approval shall not be unreasonably withheld or delayed (without limiting the
foregoing, it shall be deemed reasonable to withhold approval with respect to a
designee that is an Affiliated Reuters Director).

                  (l) Instinet and the Reuters Parties shall take all necessary
action to elect Nicoll as a director of Instinet effective as of the Effective
Time. So long as (i) Reuters Entities own shares of Instinet's stock
representing at least 35% of the Total Voting Power of Instinet and (ii) the
Island Stockholders are entitled to designate at least two Island Designees
pursuant to Section 2.2(a)(i), the Reuters Parties shall vote the shares of
Common Stock held by them to re-elect the individual then serving as Chief
Executive Officer of Instinet and shall not vote such shares to remove such
individual other than for Cause or in connection with the termination of such
individual's status as Chief Executive Officer of Instinet, without the consent
of at least one of the Island Stockholders then entitled to designate directors
under Section 2.2(a)(i).

                  2.3. Voting.

                  (a) Each Reuters Party agrees to cause all shares of Common
Stock beneficially owned by it to be voted in favor of (or, if unanimously
requested by the Island Stockholders and then permitted by the certificate of
incorporation and bylaws of Instinet, shall execute a written consent, as
promptly as practicable following such request, in favor of):

                  (i) the election or removal of, as the case may be, of those
             individuals nominated as Island Directors in accordance with
             Section 2.2,

                  (ii) subject to the rights of Reuters Limited set forth in
             Section 2.4 of the Corporate Agreement, so long as (x) the
             Reuters Entities own shares of Instinet's stock representing a
             majority of the Total Voting Power of Instinet or the Reuters
             Entities have the right to appoint, through stock ownership,
             voting agreement or otherwise, a majority of the Board of
             Directors and (y) the Island Stockholders are entitled to
             designate at least two Island Designees pursuant to Section
             2.2(a)(i), any Approved Equity Issuance, and

                  (iii) subject to the provisions set forth in Sections 2.2(k)
             and 2.2(l), the election as directors of the individuals
             nominated as directors pursuant to such Sections.

                  (b) Each Holder agrees to cause all shares of Common Stock
beneficially owned by such Holder to be voted in favor of:

                  (i) the election or removal, as the case may be, of those
             individuals designated by Reuters Holders as directors of
             Instinet in accordance with the terms of the Corporate Agreement,

                  (ii) prior to the date which is three years from the
             Effective Time but only so long as (x) Reuters Entities own
             shares of Instinet's stock representing at least 35% of the Total
             Voting Power of Instinet and (y) the Island Stockholders are
             entitled to designate at least two Island Designees pursuant to
             Section 2.2(a)(i), the election of the Designated Independent
             Directors as directors of Instinet, and

                  (iii) so long as (x) the Reuters Entities own shares of
             Instinet's stock representing a majority of the Total Voting
             Power of Instinet and (y) the Island Stockholders are entitled to
             designate at least two Island Designees pursuant to Section
             2.2(a)(i), any Approved Equity Issuance.

                  (c) Each Holder agrees to use its reasonable efforts to cause
the Island Directors to act in accordance with the terms of the Corporate
Agreement.

                  (d) So long as the Reuters Entities own shares of Instinet's
stock representing a majority of the Total Voting Power of Instinet or the
Reuters Entities have the right to appoint, through stock ownership, voting
agreement or otherwise, a majority of the Board of Directors, the Reuters
Parties will take all stockholder action necessary to cause Instinet's Board of
Directors, and committees thereof, to fulfill any obligation of such Board or
committee or of Instinet specified herein.

                  2.4. Reuters Market Purchase Limitation. (a) Until the earlier
to occur of (i) the date which is three years from the Effective Time and (ii)
the date on which the Island Stockholders are entitled to designate no more than
one Island Designee pursuant to Section 2.2(a)(i), Reuters Limited shall not,
and shall not permit any Reuters Entity (in the case of Reuters Entities not
wholly owned, directly or indirectly, by Reuters Parent, to the extent that
Reuters Limited or Reuters Parent has the power to direct such Reuters Entity
and such direction is consistent with any fiduciary obligations such Reuters
Entity might have to third parties, it being understood that no Reuters Party
shall act through or in concert with any such non-wholly owned Reuters Entity in
any manner inconsistent with such Reuters Party's obligations hereunder) to,
without the written consent of Island Stockholders holding at least a majority
of the aggregate number of the Subject Shares, acquire any additional shares of
Common Stock, provided that the foregoing shall not apply (w) to the acquisition
by Reuters Entities of up to that number of shares of Common Stock that will
result in Reuters Entities owning, pro forma for such acquisition, that
percentage of the Total Voting Power of Instinet beneficially owned by Reuters
Entities at the Effective Time (taking into account all shares of Common Stock
to be issued in exchange for shares of capital stock of Island in accordance
with the Merger Agreement), (x) to any Rule 13e-3 Transaction that satisfies the
penultimate sentence of this Section 2.4(a) and Section 2.5(b), (y) to
acquisitions (that are not Market Transactions or by means of a tender or
exchange offer), provided that following the consummation of such acquisition
there shall remain at least 20 million Public Shares outstanding or (z) in the
event that any Person or "group" (as defined in the Exchange Act), without the
prior consent of the Board of Directors, has commenced or publicly announced its
intention to commence a tender or exchange offer for, or otherwise publicly
announced, without the prior consent of the Board of Directors, an intention to
seek to acquire (directly or indirectly), 40% or more of the outstanding voting
securities of Instinet or any securities convertible into voting securities of
Instinet, or any options, warrants or other rights to acquire voting securities
of Instinet; provided that any acquisition of additional shares of Common Stock
by Reuters Limited or any other Reuters Entity in reliance on this clause (z)
shall only be permitted until 10 days following such time as the Person or
"group" publicly withdraws such tender or exchange offer or public effort to
acquire securities of Instinet or permits such tender or exchange offer to
expire, except that Reuters Limited or any other Reuters Entity shall be
permitted to continue and consummate any tender or exchange offer or other
public effort to acquire securities of Instinet commenced or publicly announced
prior to the date of such withdrawal. For so long as the limitations on
acquisitions of shares of Common Stock pursuant to the other provisions of this
Section 2.4(a) apply, Reuters Limited shall not, and shall not permit any
Reuters Entity (in the case of Reuters Entities not wholly owned, directly or
indirectly, by Reuters Parent, to the extent that Reuters Limited or Reuters
Parent has the power to direct such Reuters Entity and such direction is
consistent with any fiduciary obligations such Reuters Entity might have to
third parties, it being understood that no Reuters Party shall act through or in
concert with any such non-wholly owned Reuters Entity in any manner inconsistent
with such Reuters Party's obligations hereunder) to, engage in a Rule 13e-3
Transaction, unless (I) such Entities have made a confidential offer to the
Board of Directors with respect to such Rule 13e-3 Transaction and (II) no offer
or any willingness to make an offer has been directly or indirectly publicly
disclosed without the prior written approval of a majority of the Nasdaq
Independent Directors and the Island Directors, voting together. Notwithstanding
anything to the contrary contained in this Agreement, any failure of the
condition contained in clause (II) of the previous sentence may be waived by a
majority of the Nasdaq Independent Directors and the Island Directors, voting
together, provided that following any public disclosure referred to in clause
(II) above, Reuters Limited and any applicable Reuters Entities shall have
adopted and maintained a "no comment" position with respect to such matter
unless directed to do otherwise by any applicable self-regulatory organization
or any stock exchange or inter-dealer quotation system on which such Reuters
Entity's capital stock is listed or quoted.

                  (b) In the event that Instinet engages in discussions or
negotiations with any Person other than a Reuters Entity that could result in
such Person beneficially owning 40% or more of the outstanding voting securities
of Instinet or any securities convertible into voting securities of Instinet, or
any options, warrants or other rights to acquire voting securities of Instinet
(or a successor to Instinet in a merger or consolidation transaction) or all or
substantially all of its assets:

                  (i) Instinet shall (x) offer to and if requested by Reuters
             Parent, participate in, parallel discussions with Reuters Limited
             or its designated Reuters Entity (to the extent desired by
             Reuters Limited) with respect to a transaction of the same type
             and (y) entertain proposals from Reuters Limited or such Reuters
             Entity with respect to any transaction of the type described in
             this Section 2.4(b); provided that Reuters Limited enters into an
             agreement with Instinet related to the process under which such
             discussions or negotiations will be conducted (relating to such
             matters as confidentiality, "standstill" obligations and other
             customary provisions) (a "Standstill Agreement") that is no less
             restrictive to Reuters Limited than the least restrictive
             Standstill Agreement entered into between Instinet and the Person
             or Persons with whom Instinet is engaged in such discussions or
             negotiations; and

                  (ii) if any such Person (other than Reuters Limited or any
             Reuters Entity) engages in such negotiations or is provided
             confidential information in connection with a possible
             transaction regarding Instinet and (x) is not required to enter
             into a Standstill Agreement in connection therewith or does enter
             into a Standstill Agreement that is less restrictive to such
             Person than the restrictions of Section 2.4(a) are to Reuters
             Entities and Reuters Limited enters into a comparable agreement,
             the provisions of Section 2.4(a) shall be deemed to be suspended
             (in the case where no standstill is required) until the date
             which is six months following the date on which negotiations or
             exchange of information with respect to such possible transaction
             ceases, or amended as necessary so as to conform to such less
             restrictive Standstill Agreement for the period covered by the
             standstill provisions of such Standstill Agreement.

                  (c) The parties agree that the ability of Reuters Limited to
direct the actions of Reuters Entities not wholly owned by Reuters Parent is or
may be limited to the extent contemplated in Section 2.4(a) above, it being
understood that no Reuters Party shall act through or in concert with any such
non-wholly owned Reuters Entity in any manner inconsistent with such Reuters
Party's obligations hereunder. Reuters Limited shall not directly or indirectly
intentionally engage in any transaction that has the effect of causing a wholly
owned Reuters Entity to become not wholly owned solely for the purpose of
evading the restrictions contained in this Section 2.4.

                  (d) The provisions of this Section 2.4 shall cease to apply to
Reuters Entities 90 days after the first date on which the Reuters Entities
cease to own shares of Instinet's stock representing 35% or more of the Total
Voting Power of Instinet. Any such release of Reuters Entities from the
provisions of this Section 2.4 shall not affect the obligations of any other
Person that otherwise remains subject to this Section 2.4 in accordance with its
terms by reason of Section 2.1(c)(iv) or otherwise.

                  2.5. Certain Actions. So long as (i) (x) the Reuters Entities
own shares of Instinet's stock representing a majority of the Total Voting Power
of Instinet or (y) directors that at such time fail to qualify as Nasdaq
Independent Directors due to their relationship with a Reuters Entity constitute
a majority of the Board of Directors and (ii) the Island Stockholders are
entitled to designate at least two Island Designees pursuant to Section
2.2(a)(i), in addition to any action that the Board of Directors or any other
committee or subset thereof may elect or be required to take:

                  (a) the Board of Directors shall maintain a committee,
consisting solely of one director designated by the Reuters Parties, one Island
Director and the Chief Executive Officer of Instinet, which committee shall
determine the process by which Instinet will approve transactions and
relationships entered into following the Effective Time between Instinet
Entities, on the one hand, and the Reuters Entities, on the other hand. Such
committee shall determine the types of such transactions or relationships that
(i) may be approved by management, (ii) must be approved by such committee,
(iii) must be approved by the Board of Directors, and/or (iv) must be approved
by a majority of all Nasdaq Independent Directors and Island Directors, voting
together.

                  (b) Notwithstanding the foregoing, each of the following shall
require the prior approval of a majority of all Nasdaq Independent Directors and
Island Directors, voting together:

                  (i) entering into, modifying, amending or terminating any
             agreement, understanding or arrangement between any Instinet
             Entity and any Reuters Entity, which would be reasonably likely
             to result, in the reasonable opinion of the committee referred to
             in Section 2.5(a), in a transfer of value from Instinet Entities
             to Reuters Entities (or vice versa) in excess of $35,000,000
             (such as providing for payments, receipts or expenditures, or, in
             the case of a modification or amendment, additional payments,
             receipts or expenditures);

                  (ii) any Rule 13e-3 Transaction that requires the action of
             the Board of Directors and any standstill agreement related to a
             possible Rule 13e-3 Transaction; or

                  (iii) any amendment to the Corporate Agreement or the
             entering into by Instinet of any new agreement between Instinet
             and any Reuters Entity, in each case that materially improves the
             corporate governance, veto or similar rights of any Reuters
             Entity provided under the Corporate Agreement or prevents the
             Reuters Parties from honoring their obligations under this
             Agreement in the manner and within the time periods contemplated
             by this Agreement.

                  (c) The provisions of this Section 2.5 shall not apply to
those agreements, understandings and relationships set forth on Section 3.24 or
4.2(vi) of the Parent Disclosure Schedule attached to the Merger Agreement or to
any implementation thereof consistent with the material terms thereof, except to
the extent the same are proposed to be materially modified or terminated after
the Effective Time.

                  2.6. Certain Charter and Bylaw Amendments. During the term of
this Agreement, Instinet shall not amend or modify any provision of the
certificate of incorporation or bylaws of Instinet in any way that prevents the
Holders from exercising their rights under this Agreement or prevents the
Reuters Parties from honoring their obligations under this Agreement in the
manner and within the time periods contemplated by this Agreement.

                  2.7. Actions Taken in Absence of Direction from Holders.
Whenever any Island Stockholder is required under this Agreement to provide
direction to Instinet in connection with the rights granted to such Island
Stockholder hereunder and fails to do so, none of Instinet, the Reuters Parties
and the Board of Directors shall be liable to such Island Stockholder or any
other Person for any failure to honor such rights.

                  2.8. Registration Rights. Each party hereto agrees to take all
requisite action in its power so that, at the Effective Time, the Registration
Rights Agreement is entered into on the terms of the term sheet described in
Section 4.17 of the Merger Agreement. In the event that the Registration Rights
Agreement is not entered into at the Effective Time, each party hereto shall
take all requisite action in its power so that it is entered into on such terms
as soon as possible following the Effective Time. Subject to compliance by the
Island Stockholders with their obligations pursuant to this Section 2.8, the
Reuters Entities shall not exercise any rights pursuant to Article III of the
Corporate Agreement until such time as the Registration Rights Agreement is
entered into and during such time as the Registration Rights Agreement is in
effect.

                                  ARTICLE III
                         REPRESENTATIONS AND WARRANTIES

                  3.1. Each Reuters Party represents and warrants, with respect
to such Reuters Party as follows:

                  (a) Status and Authority. Such Reuters Party is a company duly
organized and validly existing under the laws of its jurisdiction of
organization. The execution and delivery by such Reuters Party of this Agreement
and the performance of its obligations hereunder have been duly authorized by
all necessary corporate action on the part of such Reuters Party, and this
Agreement has been duly executed and delivered by the duly authorized officers
of such Reuters Party and constitutes the valid, legal and binding obligation of
such Reuters Party.

                  (b) No Conflicts.

                  (i) The execution, delivery and performance of this
             Agreement by such Reuters Party will not result in (A) any
             conflict with the charter documents of any such Reuters Party,
             (B) any material breach or violation of or default under any
             statute, law, rule, regulation, judgment, decree, order or any
             material mortgage, deed of trust, indenture, agreement or any
             other instrument to which such Reuters Party is a party or by
             which any of their respective material properties or assets are
             bound, or (C) the creation or imposition of any lien, charge,
             pledge or encumbrance thereon, except for such breaches,
             violations or defaults and such liens, charges, pledges or
             encumbrances as would not, individually or in the aggregate,
             adversely affect the ability of such Reuters Party to perform its
             obligations hereunder.

                  (ii) No consent, approval or authorization of or filing with
             any governmental authority is required with respect to such
             Reuters Party in connection with the execution and delivery of
             this Agreement, and the performance by such Reuters Party of its
             obligations hereunder.

                  (c) No Litigation. There are no judicial or administrative
actions, proceedings or investigations pending or, to the best knowledge of such
Reuters Party, threatened, which question the validity of this Agreement or any
action taken or to be taken by such Reuters Party in connection herewith.

                  3.2. Instinet represents and warrants as follows:

                  (a) Status and Authority. Instinet is a company duly
organized, validly existing and in good standing under the laws of Delaware. The
execution and delivery by Instinet of this Agreement and the performance of its
obligations hereunder have been duly authorized by all necessary corporate
action on the part of Instinet (except as contemplated by the Merger Agreement),
and this Agreement has been duly executed and delivered by the duly authorized
officers of Instinet and constitutes the valid, legal and binding obligation of
Instinet.

                  (b)      No Conflicts.

                  (i) The execution, delivery and performance of this
             Agreement by Instinet will not result in (A) any conflict with
             the charter documents of any Instinet Entity, (B) any material
             breach or violation of or default under any statute, law, rule,
             regulation, judgment, decree, order or any material mortgage,
             deed of trust, indenture, agreement or any other instrument to
             which any Instinet Entity is a party or by which any of their
             respective material properties or assets are bound, or (C) the
             creation or imposition of any lien, charge, pledge or encumbrance
             thereon, except for such breaches, violations or defaults and
             such liens, charges, pledges or encumbrances as would not,
             individually or in the aggregate, adversely affect the ability of
             Instinet to perform its obligations hereunder.

                  (ii) No consent, approval or authorization of or filing with
             any governmental authority is required with respect to Instinet
             in connection with the execution and delivery of this Agreement,
             and the performance by Instinet of its obligations hereunder.

                  (c) No Litigation. There are no judicial or administrative
actions, proceedings or investigations pending or to the best knowledge of
Instinet, threatened, which question the validity of this Agreement or any
action taken or to be taken by Instinet in connection herewith.

                  3.3. Each Island Stockholder, with respect to such Island
Stockholder, represents and warrants as follows:

                  (a) Status and Authority. Such Island Stockholder, is a
corporation, limited partnership or limited liability company duly organized,
validly existing and in good standing under the laws of its jurisdiction of
organization. The execution and delivery by such Island Stockholder, of this
Agreement and the performance of its obligations hereunder have been duly
authorized by all necessary corporate, limited partnership or limited liability
company action on the part of such Island Stockholder, and this Agreement has
been duly executed and delivered by the duly authorized officers or other
representatives of such Island Stockholder and constitutes the valid, legal and
binding obligation of such Island Stockholder.

                  (b) No Conflicts; No Liens.

                  (i) The execution, delivery and performance of this
             Agreement by such Island Stockholder, will not result in (A) any
             conflict with the charter documents of such Island Stockholder,
             (B) any material breach or violation of or default under any
             statute, law, rule, regulation, judgment, decree, order or any
             material mortgage, deed of trust, indenture, agreement or any
             other instrument to which any such Island Stockholder, is a party
             or by which any of its respective material properties or assets
             are bound, or (C) the creation or imposition of any lien, charge,
             pledge or encumbrance thereon, except for such breaches,
             violations or defaults and such liens, charges, pledges or
             encumbrances as would not, individually or in the aggregate,
             adversely affect the ability of such Island Stockholder, to
             perform its obligations hereunder.

                  (ii) None of such Island Stockholder's Subject Shares or
             Datek Shares are subject to any lien, charge, pledge or
             encumbrance thereon.

                  (iii) No consent, approval or authorization of or filing
             with any governmental authority is required with respect to such
             Island Stockholder in connection with the execution and delivery
             of this Agreement, and the performance by such Island Stockholder
             of its obligations hereunder.

                  (c) No Litigation. There are no judicial or administrative
actions, proceedings or investigations pending or to the best knowledge of such
Island Stockholder, threatened, which question the validity of this Agreement or
any action taken or to be taken by such Island Stockholder in connection
herewith.

                  3.4. Nicoll represents and warrants as follows:

                  (a) Authority. Nicoll has the legal capacity and all requisite
power and authority to enter into this Agreement and to perform his obligations
hereunder. This Agreement constitutes the valid, legal and binding obligation of
Nicoll.

                  (b) No Conflicts; No Liens.

                  (i) The execution, delivery and performance of this
             Agreement by Nicoll will not result in (A) any material breach or
             violation of or default under any statute, law, rule, regulation,
             judgment, decree, order or any material mortgage, deed of trust,
             indenture, agreement or any other instrument to which Nicoll is a
             party or by which any of his Subject Shares are bound, or (C) the
             creation or imposition of any lien, charge, pledge or encumbrance
             on Nicoll's Subject Shares.

                  (ii) None of Nicoll's Subject Shares or Datek Shares are
             subject to any lien, charge, pledge or encumbrance thereon.

                  (ii) No consent, approval or authorization of or filing with
             any governmental authority is required with respect to Nicoll in
             connection with the execution and delivery of this Agreement, and
             the performance by him of his obligations hereunder.

                  (c) No Litigation. There are no judicial or administrative
actions, proceedings or investigations pending or to the best knowledge of
Nicoll, threatened, which question the validity of this Agreement or any action
taken or to be taken by him in connection herewith.

                                   ARTICLE IV
                                  MISCELLANEOUS

                  4.1. Amendments. This Agreement may be amended, supplemented
or otherwise modified only by a writing duly executed by or on behalf of
Instinet, each Reuters Party and Holders of at least a majority of the Subject
Shares, provided, however, that no amendment to paragraphs (a), (d), (e) or (f)
of Section 2.1 or to Article IV that would adversely affect Nicoll shall be
effective unless duly executed by Nicoll and provided, further, however, that an
amendment that adversely affects any Holder disproportionately to other Holders
shall not be effective unless duly executed by or on behalf of such Holder. No
waiver by any party of any of the provisions hereof shall be effective unless
explicitly set forth in writing and executed by (i) Instinet, in the case of a
waiver of rights of Instinet, (ii) the Reuters Parties, in the case of a waiver
of rights of the Reuters Parties, and/or (iii) Holders of at least a majority of
the Subject Shares, in the case of a waiver of rights of Holders, provided,
however, that no waiver with respect to paragraphs (a), (d), (e) or (f) of
Section 2.1 or to Article IV that would adversely affect Nicoll shall be
effective unless duly executed by Nicoll and provided, further, however, that a
waiver that adversely affects any Holder disproportionately to other Holders
shall not be effective unless duly executed by or on behalf of such Holder.
Except as provided in the preceding sentence, no action taken pursuant to this
Agreement, including without limitation, any investigation by or on behalf of
any party, shall be deemed to constitute a waiver by the party taking such
action of compliance with any representations, warranties, covenants or
agreements contained herein. The waiver by any party hereto of a breach of any
provision of this Agreement shall not operate or be construed as a waiver of any
subsequent breach.

                  4.2. Severability. If any provision of this Agreement or the
application of any such provision to any party or circumstances shall be
determined by any court of competent jurisdiction to be invalid, illegal or
unenforceable to any extent, the remainder of this Agreement or such provision
of the application of such provision to such party or circumstances, other than
those to which it is so determined to be invalid, illegal or unenforceable,
shall remain in full force and effect to the fullest extent permitted by law and
shall not be affected thereby, unless such a construction would be unreasonable.

                  4.3. Notices. All notices and other communications required or
permitted hereunder shall be in writing, shall be deemed duly given upon actual
receipt, and shall be delivered (a) in person, (b) by registered or certified
mail, postage prepaid, return receipt requested or (c) by facsimile or other
generally accepted means of electronic transmission (provided that a copy of any
notice delivered pursuant to this clause (c) shall also be sent pursuant to
clause (a) or (b)) above, addressed as follows:

                  (a)  if to Instinet, to:

                       Instinet Group Incorporated
                       Three Times Square
                       10th Floor
                       New York, New York 10036
                       Attention:  General Counsel
                       Telecopy No.:  646-223-9017

                       with a copy to:

                       Cleary, Gottlieb, Steen & Hamilton
                       One Liberty Plaza
                       New York, New York  10006
                       Attention:  Yvette P. Teofan
                       Telecopy No.:  212-225-3999

                  (b)  If to any Reuters Party, to:

                       Reuters Limited
                       85 Fleet Street
                       London, England
                       EC4B 4AJ
                       Attention:  General Counsel
                       Telecopy No.:  011-44-207-542-5896

                       with a copy to:

                       Reuters America Inc.
                       The Reuters Building
                       3 Times Square
                       New York, New York  10036
                       Attention:  General Counsel
                       Telecopy No:  646-223-4250

                       and to:

                       Simpson Thacher & Bartlett
                       425 Lexington Avenue
                       New York, New York  10017
                       Attention: Vince Pagano, Esq.
                                     William E. Curbow, Esq.
                       Telecopy No.:  212-455-2502

                  (c) If to any Holder or Nicoll, to such Holder or Nicoll at
             the address and telecopy number set forth beneath such Holder's
             or Nicoll's name on the signature pages hereto or on Exhibit B
             hereto (or, if applicable, such Holder's Joinder Agreement) with
             a copy to:

                       Ropes & Gray
                       One International Place
                       Boston, MA  02110
                       Attn: Alfred O. Rose, Esq.
                       Telecopy No.: (617) 951-7050;

or to such other addresses or telecopy numbers as may be specified by like
notice to the other parties.

                  4.4. Further Assurances. Each party hereto shall execute,
acknowledge and deliver, or cause to be executed, acknowledged and delivered,
such instruments and take such other action as may be reasonably necessary or
advisable to carry out their obligations under this Agreement and under any
exhibit, document or other instrument delivered pursuant hereto.

                  4.5. Governing Law. This Agreement shall be governed by, and
construed and interpreted in accordance with, the law of the State of New York.

                  4.6. Entire Agreement. This Agreement constitutes the entire
understanding of the parties hereto with respect to the subject matter hereof.

                  4.7. Successors. This Agreement shall be binding upon, and
shall inure to the benefit of, the parties hereto and their respective
successors and permitted assigns. Except as set forth in Section 4.10, nothing
contained in this Agreement, express or implied, is intended to confer upon any
other Person or entity any benefits, rights or remedies.

                  4.8. Jurisdiction; Specific Performance. The parties to this
Agreement agree that jurisdiction and venue in any action brought by any party
hereto pursuant to this Amendment shall properly lie and shall be brought in any
federal or state court located in the Borough of Manhattan, City and State of
New York. By execution and delivery of this Agreement, each party hereto
irrevocably submits to the jurisdiction of such courts for itself or herself and
in respect of its or her property with respect to such action. Each party hereto
hereby irrevocably agrees and consents to service of process for all purposes
under this Agreement at the address specified for such party in, or in
accordance with Section 4.3. Any service made on such party hereto shall be
effective when delivered regardless of whether notice thereof is given to the
affected party. The parties hereto irrevocably agree that venue would be proper
in such court, and hereby irrevocably waive any objection that such court is an
improper or inconvenient forum for the resolution of such action. The parties
hereto acknowledge and agree that irreparable damage would occur in the event
that any of the provisions of this Agreement were not performed in accordance
with their specific terms or were otherwise breached. The parties hereto agree
to waive any requirement for the posting of any bond in connection with such
remedy.

                  4.9. Counterparts. This Agreement may be executed in any
number of counterparts, each of which shall be deemed an original instrument,
but all of which together shall constitute but one and the same agreement.

                  4.10. Assignment. Neither this Agreement nor any right or
obligation hereunder is assignable by any party except with the prior written
consent of Instinet, each Reuters Party and the Holders of at least a majority
of the Subject Shares. Notwithstanding the foregoing, the rights and obligations
of (i) any Holder under this Agreement may be transferred or assigned without
such prior written consent to any Person that qualifies as a Permitted
Transferee (pursuant to clause (ii) of the definition thereof) and that acquires
Subject Shares and (ii) of any Reuters Party under this Agreement may be
transferred or assigned without such prior written consent in accordance with
the provisions of Section 2.1(c)(i), Section 2.1(c)(iii) and Section 2.1(c)(iv)
applicable to such Transfer. Any assignment of rights of Holder permitted
pursuant to this Section 4.10 may be made only if the assignee assumes all of
the assignor's obligations pursuant to this Agreement. Any assignment permitted
pursuant to the terms hereof shall be effective upon receipt by Instinet of (x)
written notice from the transferring Holder or Reuters Party stating the name
and address of any transferee and identifying the number of Subject Shares or
shares of Common Stock with respect to which the rights and obligations under
this Agreement are being transferred, (y) a Joinder Agreement from such
transferee to be bound by the terms of this Agreement, or, if applicable, a
written agreement agreeing to be bound by certain terms of this Agreement, and
(z) in the case of a Transfer by a Island Stockholder, to the extent required by
paragraphs (g) (taking into account the effect of such Transfer) and (h) of
Section 2.2, the resignations of any Island Director designated by such Island
Stockholder.

                  4.11. Termination. Except as otherwise provided herein, this
Agreement shall terminate and be of no further effect on the date which is ten
years from the Effective Time. Following the expiration of the Initial Share
Holding Period, upon five Business Days prior written notice to Instinet and the
Reuters Parties, any Holder may terminate this Agreement with respect to itself
and its Affiliates; provided that (x) in the case of termination by a Island
Stockholder, such Island Stockholder has complied with Section 2.2(h) and (y)
effective upon transmission of such notice, such Holder and its Affiliates shall
be deemed to have ceased to own Subject Shares representing at least the Minimum
Designee Amount. Upon such termination, such Holder shall no longer be
considered a Holder hereunder.

                  4.12. Effectiveness of Agreement. Notwithstanding anything in
this Agreement to the contrary, this Agreement shall become effective only upon
the Effective Time.

<PAGE>

                  IN WITNESS WHEREOF, the parties hereto have executed this
Agreement the day and year first above written.

                                     INSTINET GROUP INCORPORATED

                                     By:
                                        ------------------------------
                                           Name:
                                           Title:

                                     REUTERS LIMITED

                                     By:
                                        ------------------------------
                                           Name:  Devin Wenig
                                           Title: Attorney in Fact

                                     REUTERS C CORP.

                                     By:
                                        ------------------------------
                                          Name:  Devin Wenig
                                          Title: Authorized Officer

                                     REUTERS HOLDINGS SWITZERLAND SA

                                     By:
                                        ------------------------------
                                          Name:  Devin Wenig
                                          Title: Attorney in Fact

<PAGE>

TA/ADVENT VIII, L.P.                                 ADVENT ATLANTIC & PACIFIC
                                                     III, L.P.

By: TA Associates VIII, LLC,                         By: TA Associates AAP III
    its General Partner                                  Partners, L.P.,
                                                         its General Partner

By: TA Associates, Inc.,                             By: TA Associates, Inc.,
    its Manager                                          its General Partner

By:                                                  By:
    -----------------------                             -----------------------
    Name:                                               Name:
    Title:                                              Title:

TA ATLANTIC & PACIFIC IV, L.P.                       TA EXECUTIVES FUND, LLC

By: TA Associates AP IV Partners, L.P.,              By: TA Associates, Inc.,
    its General Partner                                  its Manager
                                                     By:
By: TA Associates, Inc.,                                -----------------------
    its General Partner                                 Name:
                                                        Title:
By:
    -----------------------
    Name:
    Title:

TA INVESTORS, LLC                                         TA IX, L.P.

By: TA Associates, Inc., its Manager                 By:  TA Associates IX, LLC,
                                                          its General Partner
By:
    -----------------------
    Name:                                            By:  TA Associates, Inc.,
    Title:                                                its Manager

                                                     By:
                                                          ----------------------
                                                          Name:
                                                          Title:

<PAGE>

                                                     1998 GPH FUND, LLC

                                                     By:
                                                        ------------------------
                                                        Name:
                                                        Title:

                                                     GPH DT PARTNERS

                                                     By:
                                                        ------------------------
                                                        Name:
                                                        Title:

                                                     2000 EXCHANGE PLACE FUND,
                                                     LLC

                                                     By:
                                                        ------------------------
                                                        Name:
                                                        Title:

<PAGE>

                                                     BAIN CAPITAL FUND VII, LLC
                                                     BAIN CAPITAL VII
                                                     COINVESTMENT FUND, LLC

                                                     By: Bain Capital Partners
                                                         VII, L.P., their
                                                         General Partner

                                                     By: Bain Capital Investors,
                                                         LLC, its General
                                                         Partner

                                                     By:
                                                         -----------------------
                                                         Name:
                                                         Title:

                                                     BCI DATEK INVESTORS, LLC

                                                     By:
                                                         -----------------------
                                                         Name:
                                                         Title:

                                                     BCIP ASSOCIATES II
                                                     BCIP ASSOCIATES II-B
                                                     BCIP TRUST ASSOCIATES II
                                                     BCIP TRUST ASSOCIATES II-B

                                                     By: Bain Capital Investors,
                                                         LLC, their Managing
                                                         Partner

                                                     By:
                                                         -----------------------
                                                         Name:
                                                         Title:

<PAGE>

                                                     SILVER LAKE PARTNERS, L.P.

                                                     By: Silver Lake Technology
                                                         Associates, L.L.C.,
                                                         its General Partner

                                                     By:
                                                         -----------------------
                                                         Name:
                                                         Title:

                                                     SILVER LAKE INVESTORS, L.P.

                                                     By: Silver Lake Technology
                                                         Associates, L.L.C.,
                                                         its General Partner

                                                     By:
                                                         -----------------------
                                                         Name:
                                                         Title:

                                                     SILVER LAKE TECHNOLOGY
                                                     INVESTORS, L.L.C.

                                                     By: Silver Lake Technology
                                                         Management, L.L.C., its
                                                         Managing Member

                                                     By:
                                                         -----------------------
                                                         Name:
                                                         Title:

<PAGE>

                                                     Solely for purposes of
                                                     paragraphs (a), (d), (e)
                                                     and (f) of Section 2.1,
                                                     Section 3.4 and Article IV
                                                     hereof:

                                                     EDWARD NICOLL

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

                                                     Address and telecopy number
                                                     for notices:

<PAGE>

                                                                       EXHIBIT A

                                     JOINDER

                  By execution of this Joinder, the undersigned agrees to become
a party to that certain Stockholders Agreement, dated as of June 9, 2002 (the
"Agreement"), among Instinet Group Incorporated, Reuters Limited, Reuters C
Corp, Reuters Holdings Switzerland SA, the Bain Group, the Silver Lake Group,
the TA Group, and Edward Nicoll. Capitalized terms used but not defined herein
shall have the meaning ascribed thereto in the Agreement. By execution of this
Joinder, the undersigned shall have all the rights of [a Holder] [a Reuters
Party] and shall observe all the obligations of [a Holder] [a Reuters Party], in
each case as specified in the Agreement and to have made on the date hereof all
representations and warranties set forth in Section [3.3] [3.1] of the
Agreement, modified, if necessary, to reflect the nature of the undersigned as a
trust, estate or other entity.

Name:________________________

Address for Notices:                              With Copies to:

______________________________                    _____________________________

______________________________                    _____________________________

______________________________                    _____________________________

______________________________                    _____________________________

______________________________                    _____________________________

Signature:______________________________

Date:___________________________________

<PAGE>

                                                                       EXHIBIT B

                               ISLAND STOCKHOLDERS

NAME                                            ADDRESS FOR NOTICES
----                                            -------------------
Bain Entities
-------------
Bain Capital Fund VII, LLC                      c/o Bain Capital
Bain Capital VII Coinvestment Fund, LLC         111 Huntington Ave.
BCI Datek Investors, LLC                        Boston, MA  02199
BCIP Associates II                              Attn:  John Connaughton
BCIP Associates II-B                            Facsimile:  617-516-2010
BCIP Trust Associates II
BCIP Trust Associates II-B                      with a copy to:
                                                c/o Ropes & Gray
                                                One International Place
                                                Boston, MA  02110-2624
                                                Attn:  Al Rose
                                                Facsimile:  617-951-7050
Silver Lake Entities
Silver Lake Partners, L.P.                      c/o Silver Lake Partners
Silver Lake Investors, L.P.                     2725 Sand Hill Road
Silver Lake Technology Investors, L.L.C.        Menlo Park, CA  94025
                                                Attn:  Karl Detweiler
                                                Facsimile:  650-233-8125

                                                Additional facsimile copy:

                                                Attn:  Mike Bingle
                                                Facsimile:  212-981-3535
TA Entities
TA Atlantic & Pacific IV, L.P.                  c/o TA Associates
TA/Advent VIII, L.P.                            125 High Street, Suite 2500
TA Investors, LLC                               Boston, MA  02110
TA Executives Fund, LLC                         Attn:  Thomas Alber
TA IX, L.P.                                     Facsimile:  617-574-6789
Advent Atlantic & Pacific III L.P.
GPH DT Partners
1998 GPH Fund, LLC
2000 Exchange Place Fund, LLCExhibit 10.4

                            COMPANY VOTING AGREEMENT

                  AGREEMENT, dated as of June 9, 2002 (this "Agreement"), by and
among, Island Holding Company, Inc. (the "Company"), the stockholders of the
Company set forth on Annex A hereto (each a "Stockholder" and, collectively, the
"Stockholders") and Instinet Group Incorporated ("Parent").

                  WHEREAS, simultaneously with the execution of this Agreement,
Parent, Daiquiri Merger Corporation, a Delaware corporation ("Merger Sub"), and
the Company are entering into an Agreement and Plan of Merger, dated as of the
date hereof (the "Merger Agreement") providing, among other things, for the
merger of Merger Sub with the Company (the "Merger");

                  WHEREAS, as of the date hereof, the Stockholders are the
Beneficial Owners (as defined below) of, and have the sole right to vote and
dispose of (i) 316,719.8 shares of Class L common stock, $0.001 par value per
share, of the Company (the "Class L Common Stock") and (ii) 14,609,288.7 shares
of Class A-1 common stock, $0.001 par value per share, of the Company (the
"Class A-1 Common Stock", and together with the Class L Common Stock, the
"Company Common Stock"), in the respective amounts set forth on Annex A
(collectively, together with any additional Securities hereafter acquired by any
of the Stockholders or their controlled Affiliates, the "Subject Shares"); and

                  WHEREAS, as a condition to Parent's entering into the Merger
Agreement, Parent has required that the Stockholders agree, and the Stockholders
have agreed, to enter into this Agreement.

                  NOW, THEREFORE, to induce Parent to enter into the Merger
Agreement and in consideration of the premises herein contained, and for other
good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties agree as follows:

                  1. Certain Definitions. Capitalized terms used but not defined
in this Agreement are used in this Agreement with the meanings given to such
terms in the Merger Agreement. In addition, for purposes of this Agreement:

                  "Affiliate" means, with respect to any specified Person, any
Person that directly, or indirectly through one or more intermediaries,
controls, or is controlled by, or is under common control with, the Person
specified. For purposes of this Agreement, with respect to the Stockholders,
"Affiliate" shall not include the Company and the Persons that directly, or
indirectly through one or more intermediaries, are controlled by the Company.

                  "Ameritrade Merger Agreement" means the Amended and Restated
Agreement and Plan of Merger, dated as of May 16, 2002, by and between Datek
Online Holdings Corp. ("Datek"), Ameritrade Holding Corporation, Arrow Stock
Holding Corporation, Arrow Merger Corp. and Dart Merger Corp, as in effect from
time to time (provided that none of the provisions in such agreement relating to
the Datek Distribution shall have been amended in any respect applicable to this
Agreement without Parent's written consent).

                  "Beneficially Owned" or "Beneficial Ownership" with respect to
any securities means having beneficial ownership of such securities (as
determined pursuant to Rule 13d-3 under the Exchange Act, disregarding the
phrase "within 60 days" in paragraph (d)(1)(i) thereof), including pursuant to
any agreement, arrangement or understanding, whether or not in writing. Without
duplicative counting of the same securities by the same holder, securities
Beneficially Owned by a Person shall include securities Beneficially Owned by
all Affiliates of such Person and all other Persons with whom such Person would
constitute a "Group" within the meaning of Section 13(d) of the Exchange Act and
the rules promulgated thereunder.

                  "Beneficial Owner" with respect to any securities means a
Person that has Beneficial Ownership of such securities.

                  "DGCL" means the Delaware General Corporation Law, as amended
from time to time.

                  "Person" means an individual, corporation, partnership,
limited liability company, joint venture, association, trust, unincorporated
organization or other entity.

                  "Transfer" means, with respect to a security, the sale,
transfer, pledge, hypothecation, encumbrance, assignment or disposition of such
security or the Beneficial Ownership thereof, whether directly or indirectly
(pursuant to any transaction involving a security linked to such security,
including any equity swap, put, put equivalent, collar, sale of exchangeable
security or similar transaction, the creation of a derivative security or
otherwise), the offer to make such a sale, transfer or other disposition, and
each option, agreement, arrangement or understanding, whether or not in writing,
to effect any of the foregoing. As a verb, "Transfer" shall have a correlative
meaning.

                  2. Stockholder Vote. Each Stockholder, severally and not
jointly, agrees that, unless this Agreement has been terminated in accordance
with its terms, (a) at such time as the Company conducts a meeting of or
otherwise seeks a vote or consent of its stockholders for the purpose of
approving and adopting the Merger Agreement and the Merger and/or the Company
Charter Amendment, it will vote or provide a consent with respect to and will
cause its controlled Affiliates to vote or provide a consent with respect to, as
the case may be, all Subject Shares then Beneficially Owned by such Stockholder
or its controlled Affiliates in favor of the Merger Agreement and the Merger
and/or the Company Charter Amendment (as applicable) and (b) it will (at any
meeting of stockholders) vote its Subject Shares against, and it will not
consent to, and will cause its controlled Affiliates to vote against and not to
consent to, any Prohibited Transaction. Without limiting the foregoing, it is
understood that the obligations under this Section 2 shall remain applicable in
respect of each meeting of stockholders of the Company duly called (or
solicitation of consents) for the purpose of approving the Merger Agreement and
the Merger and/or the Company Charter Amendment and/or any Prohibited
Transaction regardless of the position of the Company's board of directors as to
the Merger or any such Prohibited Transaction at the time of such meeting or
solicitation.

                  3. Grant of Irrevocable Proxy; Registration Rights; Merger
Consideration. (a) Until this Agreement is terminated, each Stockholder hereby
irrevocably appoints Parent, its officers, agents and nominees, with full power
of substitution, as proxy for and attorney in fact of the Stockholder to act
with respect to and vote the Subject Shares Beneficially Owned by the
Stockholder for and in the name, place and stead of the Stockholder at any
annual, special or other meeting of the holders of shares of Company capital
stock and at any adjournment or postponement thereof or pursuant to any written
consent in lieu of a meeting, to the fullest extent that the Subject Shares are
entitled to be voted in accordance with Section 2; provided that Parent, its
officers, agents or nominees may exercise this irrevocable proxy only if such
Stockholder fails to comply with the terms of Section 2. Each Stockholder will
cause its controlled Affiliates to grant such an irrevocable proxy with respect
to each Subject Share now Beneficially Owned or hereafter acquired by such
controlled Affiliates. In all other matters, the Subject Shares shall be voted
by and in the manner determined by the Stockholder upon at least 3 business
days' prior written notice to Parent. Each Stockholder hereby represents that he
has not heretofore granted any irrevocable proxy with respect to the Subject
Shares and hereby revokes any and all proxies which may heretofore have been
granted by such Stockholder with respect to the Subject Shares (other than,
subject to Section 17, proxies that may have been granted to another Stockholder
or as set forth on Annex A).

                  (b) Each Stockholder understands and acknowledges that Parent
is entering into the Merger Agreement in reliance upon the Stockholder's
execution and delivery of this Agreement. Each Stockholder hereby affirms that
the irrevocable proxy set forth in this Section 3 is given in connection with
and as an inducement for the execution by Parent of the Merger Agreement and to
secure the performance of the duties of the Stockholder under this Agreement.
Each Stockholder hereby further affirms that the irrevocable proxy is coupled
with an interest and may not be revoked. Each Stockholder hereby ratifies and
confirms all that such proxy may lawfully do or cause to be done by virtue
hereof in accordance with the provisions hereof. This proxy is executed and
intended to be irrevocable in accordance with the provisions of the DGCL.

                  (c) Each Stockholder agrees to take all requisite action in
its power so that as promptly as practicable after the date hereof, and in any
event no later than the expiration of Parent's October 1, 2001 Registration
Rights Agreement, a registration rights agreement will be entered into among
Reuters Limited, Reuters C Corp. and Reuters Holdings Switzerland SA, Parent,
the Stockholders and certain other Persons on the terms and conditions described
in Exhibit J to the Merger Agreement and in the manner contemplated by Section
4.17 of the Merger Agreement.

                  (d) Each Stockholder hereby agrees that the example of the
allocation of the Merger Consideration set forth in Exhibit 2.7(c)(i) to the
Merger Agreement accurately reflects the method of allocating such Merger
Consideration in accordance with the Company's Certificate of Incorporation.

                  4. Additional Covenants of the Stockholders. Each Stockholder
hereby covenants and agrees with Parent that, until this Agreement terminates
(other than as to clause (l), if such termination occurs due to the occurrence
of the Effective Time, for a period of two years following the Effective Time):

                  (a) Except as contemplated by the terms of this Agreement,
such Stockholder shall not, and shall cause its controlled Affiliates not to (i)
without the prior written consent of Parent, Transfer or consent to Transfer (A)
any or all of the Subject Shares or (B) other than as contemplated by the
Ameritrade Merger Agreement, any or all of the shares of capital stock of Datek
Beneficially Owned by such Stockholder that represent only the right to receive
or acquire shares of Company Common Stock (including, without limitation, the
Class X Common Stock, par value $0.001 per share, of Datek), unless (in the case
of this clause (B)) the transferee agrees to be bound by this Agreement and the
Stockholders Agreement, (ii) reduce such Stockholder's risk (economic or
otherwise) relative to the shares of Parent Common Stock to be received in the
Merger in respect of Subject Shares Beneficially owned by it (including pursuant
to any transaction involving a security linked to Parent Common Stock, including
any equity swap, put, put equivalent, collar, sale of exchangeable security or
similar transaction, the creation of a derivative security or otherwise), (iii)
grant any proxy or power-of-attorney with respect to any such Subject Shares
other than pursuant to this Agreement (except as set forth on Annex A) or (iv)
take any other action that would have the effect of preventing, impeding,
interfering with or adversely affecting its ability to perform its obligations
under this Agreement.

                  (b) In the event of a stock dividend or distribution, or any
change in the capital stock of the Company by reason of any stock dividend or
distribution, split-up, recapitalization, combination, exchange of shares or the
like (excluding the Merger), the term "Subject Shares" shall be deemed to refer
to and include the Subject Shares as well as all such stock dividends and
distributions and any securities into which or for which any or all of the
Subject Shares may be changed or exchanged or which are received in such
transaction.

                  (c) In his, her or its capacity as a stockholder of the
Company, such Stockholder shall not, nor shall such Stockholder permit any
controlled Affiliate of such Stockholder to, nor shall such Stockholder act in
concert with or permit any controlled Affiliate to act in concert with any
Person to make, or in any manner participate in, directly or indirectly, a
"solicitation" of "proxies" (as such terms are used in the rules of the
Securities and Exchange Commission) or powers of attorney or similar rights to
vote, or seek to advise or influence any Person with respect to the voting of
any Securities in connection with any vote or other action on any matter in a
manner inconsistent with recommending that stockholders of the Company vote (x)
in favor of adoption of the Merger Agreement and approval of the Merger and the
Company Charter Amendment and otherwise as expressly provided by this Agreement
or (y) against a Prohibited Transaction.

                  (d) Such Stockholder shall not, nor shall such Stockholder
permit any controlled Affiliate of such Stockholder to, nor shall such
Stockholder act in concert with or permit any controlled Affiliate to act in
concert with any Person to, deposit any Securities in a voting trust or subject
any Securities to any arrangement or agreement with any Person with respect to
the voting of such Securities, except as expressly provided by this Agreement
(except as set forth on Annex A).

                  (e) Such Stockholder will take all action necessary to (i)
permit (x) the shares of Company Common Stock Beneficially Owned by such
Stockholder to be acquired in the Merger and (y) the voting of such shares in
accordance with the terms of this Agreement and (ii) prevent creditors in
respect of any pledge of such shares from exercising their rights under such
pledge in a manner inconsistent with the terms of this Agreement.

                  (f) Such Stockholder shall not, and shall cause its controlled
Affiliates and representatives not to, directly or indirectly, solicit,
initiate, facilitate or encourage any inquiries or proposals from, discuss or
negotiate with, or provide any non-public information to, any Person relating to
any Prohibited Transaction.

                  (g) Unless required by applicable law, such Stockholder shall
not, and shall cause its controlled Affiliates not to, make any press release,
public announcement or other public communication with respect to the business
or affairs of the Company or Parent, including this Agreement and the Merger
Agreement and the transactions contemplated hereby and thereby, without the
prior written consent of Parent.

                  (h) Such Stockholder will (i) use all reasonable efforts to
cooperate with the Company, Parent and Merger Sub in connection with the
transactions contemplated by the Merger Agreement, (ii) promptly take such
actions as are necessary or appropriate to consummate such transactions, and
(iii) provide any information reasonably requested by the Company, Parent and
Merger Sub for any regulatory application or filing (including any registration
statement) made or approval sought for such transactions.

                  (i) Such Stockholder hereby irrevocably waives, and agrees not
to exercise, its appraisal rights pursuant to Section 262 of the DGCL in respect
of its Subject Shares in connection with the Merger Agreement and the
transactions contemplated thereby.

                  (j) Other than the Company Charter Amendment, such Stockholder
shall not consent to, and shall cause its controlled Affiliates not to consent
to, any amendment to the certificate of incorporation of the Company or any
other change in the share capital structure of the Company, including the filing
of any certificate of designations relating to preferred stock.

                  (k) Such Stockholder shall take all requisite action in its
power to prevent the conversion of the Class L Shares into Class A Shares.

                  (l) Such Stockholder, if a Bain Holder, a Silver Lake Holder
or a TA Holder, shall not, and shall cause its controlled Affiliates not to,
without the prior written consent of Parent, Transfer or consent to Transfer any
or all of the shares of capital stock of Datek Beneficially Owned by such
Stockholder that represent an indirect interest in capital stock of the Company
or Parent (other than capital stock referred to in Section 4(a)(i)(B)) unless
the transferee agrees to be bound by the Datek Stockholders Agreement to the
same extent applicable to Datek with respect to any Company Common Stock
received by such transferee (and successive transferees will also be required to
agree to be bound) with respect to such shares of capital stock of Datek or any
Parent Common Stock issuable in exchange therefor.

                  5. Representations and Warranties of the Stockholders. Each
Stockholder hereby represents and warrants to Parent that:

                  (a) (i) The Subject Shares listed on Annex A opposite the
Stockholder's name are the only shares of capital stock of the Company,
securities convertible into capital stock of the Company, or other rights in
respect of capital stock of the Company (collectively, "Securities")
Beneficially Owned or owned of record by the Stockholder or its controlled
Affiliates on the date hereof; (ii) such Stockholder has valid title to such
Subject Shares, free and clear of all liens, claims, charges, options, proxies,
security interests and encumbrances of any kind whatsoever (except as
contemplated by this Agreement), and none of such Subject Shares is subject to
any pledge or any voting trust or other agreement or arrangement (except as
created by this Agreement, as set forth on Annex A or except, subject to Section
17, as may have the effect of conferring voting power on another Stockholder)
with respect to the voting of such Subject Shares; and (iii) neither the
Stockholder nor any of its controlled Affiliates presently owns any options to
purchase or rights to subscribe for or otherwise acquire any other Securities
except as set forth in Annex A.

                  (b) The Stockholder has full right, power and authority to
execute and deliver this Agreement and to perform all of such Stockholder's
obligations hereunder, and such execution, delivery and performance have been
duly authorized by all requisite action of the Stockholder and no other
proceedings or actions are necessary therefor.

                  (c) This Agreement has been duly and validly executed and
delivered by the Stockholder and represents a valid and legally binding
obligation of the Stockholder, enforceable against the Stockholder in accordance
with its terms.

                  (d) The execution, delivery and performance of this Agreement
by the Stockholder will not constitute a violation of, conflict with, require
any consent (not yet obtained) under or result in a default (whether with notice
or lapse of time or both) under (i) any of its Constituent Documents or any
contract, understanding or arrangement to which the Stockholder is a party or by
which the Stockholder or the Subject Shares are bound, (ii) any judgment,
injunction, decree or order applicable to the Stockholder, or (iii) any
applicable law, statute, rule or regulation.

                  6. Representations, Warranties and Covenants of Parent. Parent
hereby represents and warrants to the Stockholders that (i) Parent has full
corporate right, power and authority to execute and deliver this Agreement and
to perform its obligations hereunder, (ii) such execution, delivery and
performance have been duly authorized by all requisite corporate action by
Parent, and no other corporate proceedings or actions are necessary therefor,
(iii) this Agreement has been duly and validly executed and delivered by Parent
and represents a valid and legally binding obligation of Parent, enforceable
against Parent in accordance with its terms, and (iv) the execution, delivery
and performance of this Agreement by Parent will not constitute a violation of,
conflict with, require any consent (not yet obtained) under or result in a
default (whether with notice or lapse of time or both) under (A) any of its
Constituent Documents or any contract, understanding or arrangement to which
Parent is a party or by which it is bound, (B) any judgment, injunction, decree
or order applicable to Parent, or (C) any applicable law statute, rule or
regulation.

                  7. Termination. This Agreement, other than the obligations set
forth in Section 9 and Section 4(l), shall terminate at the earlier of the
Effective Time or immediately upon termination of the Merger Agreement pursuant
to its terms.

                  8. Severability. Any term, provision, covenant or restriction
contained in this Agreement held by a court or other Authority of competent
jurisdiction to be invalid, void or unenforceable shall be ineffective to the
extent of such invalidity, voidness or unenforceability, but neither the
remaining terms, provisions, covenants or restrictions contained in this
Agreement nor the validity or enforceability thereof in any other jurisdiction
shall be affected or impaired thereby. Any term, provision, covenant or
restriction contained in this Agreement that is so found to be so broad as to be
unenforceable shall be interpreted to be as broad as is enforceable.

                  9. Expenses. Costs and expenses incurred in connection with
the transactions contemplated hereunder shall be paid in accordance with Section
8.7 of the Merger Agreement. Each Stockholder hereby consents to the payment by
the Company of certain expenses incurred by certain stockholders of the Company
as provided in Section 8.7 of the Merger Agreement.

                  10. Entire Agreement. This Agreement (including the documents
and the instruments referred to herein) constitutes the entire agreement among
the parties with respect to the subject matter hereof and supersedes all prior
agreements and understandings, agreements or representations by or between the
parties, written and oral, with respect to the subject matter hereof and
thereof.

                  11. Successors; No Third Party Beneficiaries. The terms and
conditions of this Agreement shall inure to the benefit of and be binding upon
the parties hereto and their respective successors and assigns, but neither this
Agreement nor any of the rights, interests or obligations hereunder shall be
assigned by any party (whether by operation of law or otherwise) without the
prior written consent of the other parties. Nothing in this Agreement, expressed
or implied, is intended to confer upon any party, other than the parties hereto
and their respective successors and assigns, any rights, remedies, obligations,
or liabilities under or by reason of this Agreement, except as expressly
provided herein.

                  12. Notices. All notices and other communications hereunder
shall be in writing and shall be deemed given if delivered personally,
telecopied (which is confirmed) or dispatched by a nationally recognized
overnight courier service to the parties at the following addresses (or at such
other address for a party as shall be specified by like notice):

                  (a)      if to Parent, to:

                  Instinet Group Incorporated
                  3 Times Square
                  New York, New York 10036
                  Fax:        (646) 223-9017
                  Attention:  Paul Merolla, Esq.

                  with a copy to:

                  Cleary, Gottlieb, Steen & Hamilton
                  One Liberty Plaza
                  New York, New York 10006
                  Fax:        (212) 225-3999
                  Telephone:  (212) 225-2000
                  Attention:  Yvette P. Teofan, Esq.

                  (b)      if to a Stockholder:

                  to its address set forth on Annex A

                  (c) if to the Company, to:

                  Island Holding Company, Inc.
                  50 Broad Street
                  New York, New York 10004
                  Facsimile: (212) 231-5945
                  Attention: Matt Andresen

                  and

                  Ropes & Gray
                  One International Place
                  Boston, MA 02110
                  Telephone:  (617) 951-7372
                  Facsimile:  (617) 951-7050
                  Attention:  Alfred O. Rose, Esq.

                  13. Counterparts. This Agreement may be executed in
counterparts, and each such counterpart shall be deemed to be an original
instrument, but all such counterparts together shall constitute but one
agreement.

                  14. Specific Performance. The parties hereto agree that if for
any reason Parent or any Stockholder shall have failed to perform its respective
obligations under this Agreement, then the party hereto seeking to enforce this
Agreement against such non-performing party shall be entitled to specific
performance and injunctive and other equitable relief, and the parties hereto
further agree to waive any requirement for the securing or posting of any bond
and the defense of adequacy of a remedy at law in connection with the obtaining
of any such injunctive or other equitable relief. This provision is without
prejudice to any other rights that any party hereto may have against any other
party hereto for any failure to perform its obligations under this Agreement.

                  15. Governing Law. This Agreement shall be governed by the
laws of the State of New York applicable to contracts made and to be performed
entirely in such State, except to the extent that the Delaware General
Corporation Law applies as a result of the Company being a Delaware corporation.

                  16. Waiver and Amendment. Any provision of this Agreement may
be waived at any time by the party that is entitled to the benefits of such
provision. This Agreement may not be modified, amended, altered or supplemented
except upon the execution and delivery of a written agreement executed by the
parties hereto,

                  17. Additional Subject Shares. Notwithstanding the provisions
of Section 16, in the event that any Stockholder or any of its controlled
Affiliates acquires, or acquires Beneficial Ownership over, any additional
Securities (including as a result of a distribution or other Transfer by Datek
as contemplated by the Ameritrade Merger Agreement), (i) such Stockholder shall
promptly notify Parent in writing of such acquisition and (ii) such Securities
shall, without further action of the parties, be subject to the provisions of
this Agreement, and Annex A will be deemed amended accordingly. The parties
agree that any Securities in respect of which a Stockholder is (or has been)
granted a proxy by another Stockholder or Datek shall constitute Subject Shares
of the Stockholder to whom such proxy is granted.

<PAGE>

                  IN WITNESS WHEREOF, the parties have caused this Agreement to
be duly executed as of the date first above written.

                                       ISLAND HOLDING COMPANY, INC.

                                       By:
                                          --------------------------------------
                                           Name:
                                           Title:

                                       INSTINET GROUP INCORPORATED

                                       By:
                                          --------------------------------------
                                           Name: Mark Nienstedt
                                           Title: Chief Executive Officer

<PAGE>

FINANZAS B.V. (as assignee of Europatweb N.V.)

By:
    -----------------------------------------
    Name:
    Title:

<PAGE>

TA/ADVENT VIII, L.P.                           ADVENT ATLANTIC & PACIFIC III,
                                               L.P.

By: TA Associates VIII, LLC,                   By: TA Associates AAP III
    its General Partner                            Partners, L.P., its
                                                   General Partner

By: TA Associates, Inc., its Manager           By: TA Associates, Inc.,
                                                   its General Partner

By:                                            By:
    -----------------------------                  -----------------------------
    Name:                                          Name:
    Title:                                         Title:

TA ATLANTIC & PACIFIC IV, L.P.                 TA EXECUTIVES FUND, LLC

By: TA Associates AP IV Partners, L.P.,        By: TA Associates, Inc.,
    its General Partner                            its Manager
                                               By:
                                                   -----------------------------
By: TA Associates, Inc., its General Partner       Name:
                                                   Title:
By:
    -----------------------------
    Name:
    Title:

TA INVESTORS, LLC                              TA IX, L.P.

By: TA Associates, Inc., its Manager           By: TA Associates IX, LLC,
                                                   its General Partner
By:
   -----------------------------               By: TA Associates, Inc.,
         Name:                                     its Manager
         Title:

                                               By:
                                                   -----------------------------
                                                   Name:
                                                   Title:

<PAGE>

1998 GPH FUND, LLC

By:
    -----------------------------
    Name:
    Title:

GPH DT PARTNERS

By:
    -----------------------------
    Name:
    Title:

2000 EXCHANGE PLACE FUND, LLC

By:
    -----------------------------
    Name:
    Title:

<PAGE>

BAIN CAPITAL FUND VII, LLC
BAIN CAPITAL VII COINVESTMENT FUND, LLC

By: Bain Capital Partners VII, L.P.,
    their General Partner

    By:  Bain Capital Investors, LLC,
         its General Partner

         By:
             -----------------------------
             Name:
             Title:

BCI DATEK INVESTORS, LLC

By:
    -----------------------------
    Name:
    Title:

BCIP ASSOCIATES II
BCIP ASSOCIATES II-B
BCIP TRUST ASSOCIATES II
BCIP TRUST ASSOCIATES II-B

By: Bain Capital Investors, LLC,
    their Managing Partner

    By:
        -----------------------------
        Name:
        Title:

<PAGE>

SILVER LAKE Partners, L.P.

By: Silver Lake Technology Associates, L.L.C.,
    its General Partner

    By:
        -----------------------------
        Name:
        Title:

SILVER LAKE INVESTORS, L.P.

By: Silver Lake Technology Associates, L.L.C.,
    its General Partner

     By:
         -----------------------------
         Name:
         Title:

SILVER LAKE TECHNOLOGY INVESTORS, L.L.C.

By: Silver Lake Technology Management, L.L.C.,
    its Managing Member

    By:
        -----------------------------
        Name:
        Title:

<PAGE>

ADVENT GLOBAL GECC LIMITED PARTNERSHIP

By:      Advent Global Management Limited Partnership,
         its General Partner

         By:      Advent International Limited Partnership,
                  its General Partner

                  By:      Advent International Corporation,
                           its General Partner

                           By:      ____________________________
                                    Name:
                                    Title:

ADVENT PGGM GLOBAL LIMITED PARTNERSHIP
DIGITAL MEDIA & COMMUNICATIONS III LIMITED PARTNERSHIP
DIGITAL MEDIA & COMMUNICATIONS III-A LIMITED PARTNERSHIP
DIGITAL MEDIA & COMMUNICATIONS III-B LIMITED PARTNERSHIP
DIGITAL MEDIA & COMMUNICATIONS III-C LIMITED PARTNERSHIP
DIGITAL MEDIA & COMMUNICATIONS III-D C.V.
DIGITAL MEDIA & COMMUNICATIONS III-E C.V.
GLOBAL PRIVATE EQUITY III LIMITED PARTNERSHIP
GLOBAL PRIVATE EQUITY IV LIMITED PARTNERSHIP

By: Advent International Limited Partnership,
    its General Partner

    By:
        -----------------------------
        Name:
        Title:

        By:
            -----------------------------
            Name:
            Title:

ADVENT PARTNERS DMC III LIMITED PARTNERSHIP
ADVENT PARTNERS GPE III LIMITED PARTNERSHIP
ADVENT PARTNERS (NA) GPE III LIMITED PARTNERSHIP
ADVENT PARTNERS LIMITED PARTNERSHIP
ADVENT PARTNERS GPE IV LIMITED PARTNERSHIP
ADVENT PARTNERS (NA) GPE IV LIMITED PARTNERSHIP

By: Advent International Corporation,
    its General Partner

    By:
        -----------------------------
        Name:
        Title:

<PAGE>

FIRST UNION CAPITAL PARTNERS, LLC

By:
    -----------------------------
    Name:
    Title:

<PAGE>

GUAYACAN PRIVATE EQUITY FUND LIMITED PARTNERSHIP

By: Advent-Morro Equity Partners, Inc.,
    its General Partner

    By:
        -----------------------------
        Name:
        Title:

<PAGE>

                                                                         Annex A

                                 [See attached]

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