MARGIN DISCLOSURE STATEMENT

Lightspeed Trading, LLC is furnishing this document to provide some basic facts about purchasing securities on margin and to alert you to the risks involved with trading securities in a margin account. Before trading stocks in a margin account, you should carefully review this document and the margin agreement that we provided to you. In the event of a conflict between this document and any other agreements you may have with Lightspeed Trading, LLC the other agreements will govern.

It is important that you understand fully the risks involved in trading securities on margin, which include but are not limited to the following:

• You can lose more funds than you deposit in the margin account.
  A decline in the value of securities purchased on margin may require you to provide additional funds to the Firm to avoid the forced sale of those or other securities or assets in your Account.
• The Firm can force the sale of securities or other assets in your Accounts.
  If the equity in your account falls below the NYSE margin maintenance requirements or the Firm’s higher “house” requirements, the Firm can sell the securities or other assets in any of your Accounts held at the Firm to cover the margin deficiency. You also will be responsible for any shortfall in the account after such a sale.
• The Firm can sell your securities or other assets without contacting you.
  Some investors mistakenly believe that their brokerage firm must contact them for a margin call to be valid and that their firm cannot liquidate securities or other assets in their accounts to meet the call unless the firm has contacted them first. This is not the case. While Lightspeed Trading, LLC may attempt to notify you of margin calls, we are not required to do so. Furthermore, even if we contacted you and provided a specific date by which to meet a margin call, we can still take the steps necessary to protect our financial interests, including selling the securities immediately without notice to you.
• You are not entitled to choose which securities or other assets in your Account are to be liquidated or sold to meet a margin call.
  Because the securities are collateral for the margin loan, the Firm has the right to decide which security to sell in order to protect its interests.
• The Firm can increase its “house” margin maintenance requirements at any time and is not required to provide you advance written notice.
  These changes in Firm policy often take effect immediately and may result in the issuance of a margin maintenance call. Your failure to satisfy the call may require us to liquidate or sell securities in your Accounts.
• You are not entitled to an extension of time on a margin call.
  While an extension of time to meet margin requirements may be available to you under certain conditions, you do not have a right to the extension