Jie Zhang

ITG Investment Research, Inc. is an investment research firm located in New York City. The firm is a subsidiary of Investment Technology Group, Inc. (NYSE: ITG). Their research methods, data, and analysis produce unique, data-driven insights on the macro economy, individual industries and companies. The firm offers syndicate, premium and custom reports. ITG Research covers a wide variety of industries including: (1) Airlines (2) Cable & Satellite (3) Consumer Technology (4) Energy (5) Grocers (6) Medical Technology (7) Internet (8) Casinos (9) Cruise Lines (10) Lodging (11) Online Gaming (12) Real Estate/Home builders (13) Restaurants (14) Retail/Deep Discounters (15) Retail/Hardline (16) Retail/Softline (17) Wireless Carriers and (18) Video Games. It was founded on 22nd March, 2005 and is headquartered in New York, NY.

Founded on March 22, 2005, Majestic Research Corp. is an investment research firm headquartered in New York City. The firm is a subsidiary of Investment Technology Group, Inc. (NYSE: ITG). Majestic Research offers proprietary methods and tools for accessing real-time data. The firm leverages their relationships with proprietary industry data providers and their proprietary Web harvesting technology to generate insights from the analysis of numerous data points. They cover a variety of sectors including: airlines, casinos, consumer technology, cruise lines, hardline retail, healthcare, Internet, real estate, softline retail and video games. Majestic Research's capabilities also include custom, primary and market research.

Founded on March 22, 2005, Majestic Research Corp. is an investment research firm headquartered in New York City. The firm is a subsidiary of Investment Technology Group, Inc. (NYSE: ITG). Majestic Research offers proprietary methods and tools for accessing real-time data. The firm leverages their relationships with proprietary industry data providers and their proprietary Web harvesting technology to generate insights from the analysis of numerous data points. They cover a variety of sectors including: airlines, casinos, consumer technology, cruise lines, hardline retail, healthcare, Internet, real estate, softline retail and video games. Majestic Research's capabilities also include custom, primary and market research.

Founded on March 22, 2005, Majestic Research Corp. is an investment research firm headquartered in New York City. The firm is a subsidiary of Investment Technology Group, Inc. (NYSE: ITG). Majestic Research offers proprietary methods and tools for accessing real-time data. The firm leverages their relationships with proprietary industry data providers and their proprietary Web harvesting technology to generate insights from the analysis of numerous data points. They cover a variety of sectors including: airlines, casinos, consumer technology, cruise lines, hardline retail, healthcare, Internet, real estate, softline retail and video games. Majestic Research's capabilities also include custom, primary and market research.

ITG Investment Research, Inc. is an investment research firm located in New York City. The firm is a subsidiary of Investment Technology Group, Inc. (NYSE: ITG). Their research methods, data, and analysis produce unique, data-driven insights on the macro economy, individual industries and companies. The firm offers syndicate, premium and custom reports. ITG Research covers a wide variety of industries including: (1) Airlines (2) Cable & Satellite (3) Consumer Technology (4) Energy (5) Grocers (6) Medical Technology (7) Internet (8) Casinos (9) Cruise Lines (10) Lodging (11) Online Gaming (12) Real Estate/Home builders (13) Restaurants (14) Retail/Deep Discounters (15) Retail/Hardline (16) Retail/Softline (17) Wireless Carriers and (18) Video Games. It was founded on 22nd March, 2005 and is headquartered in New York, NY.

Founded on March 22, 2005, Majestic Research Corp. is an investment research firm headquartered in New York City. The firm is a subsidiary of Investment Technology Group, Inc. (NYSE: ITG). Majestic Research offers proprietary methods and tools for accessing real-time data. The firm leverages their relationships with proprietary industry data providers and their proprietary Web harvesting technology to generate insights from the analysis of numerous data points. They cover a variety of sectors including: airlines, casinos, consumer technology, cruise lines, hardline retail, healthcare, Internet, real estate, softline retail and video games. Majestic Research's capabilities also include custom, primary and market research.

Founded on March 22, 2005, Majestic Research Corp. is an investment research firm headquartered in New York City. The firm is a subsidiary of Investment Technology Group, Inc. (NYSE: ITG). Majestic Research offers proprietary methods and tools for accessing real-time data. The firm leverages their relationships with proprietary industry data providers and their proprietary Web harvesting technology to generate insights from the analysis of numerous data points. They cover a variety of sectors including: airlines, casinos, consumer technology, cruise lines, hardline retail, healthcare, Internet, real estate, softline retail and video games. Majestic Research's capabilities also include custom, primary and market research.

ITG Investment Research, Inc. is an investment research firm located in New York City. The firm is a subsidiary of Investment Technology Group, Inc. (NYSE: ITG). Their research methods, data, and analysis produce unique, data-driven insights on the macro economy, individual industries and companies. The firm offers syndicate, premium and custom reports. ITG Research covers a wide variety of industries including: (1) Airlines (2) Cable & Satellite (3) Consumer Technology (4) Energy (5) Grocers (6) Medical Technology (7) Internet (8) Casinos (9) Cruise Lines (10) Lodging (11) Online Gaming (12) Real Estate/Home builders (13) Restaurants (14) Retail/Deep Discounters (15) Retail/Hardline (16) Retail/Softline (17) Wireless Carriers and (18) Video Games. It was founded on 22nd March, 2005 and is headquartered in New York, NY.

Founded on March 22, 2005, Majestic Research Corp. is an investment research firm headquartered in New York City. The firm is a subsidiary of Investment Technology Group, Inc. (NYSE: ITG). Majestic Research offers proprietary methods and tools for accessing real-time data. The firm leverages their relationships with proprietary industry data providers and their proprietary Web harvesting technology to generate insights from the analysis of numerous data points. They cover a variety of sectors including: airlines, casinos, consumer technology, cruise lines, hardline retail, healthcare, Internet, real estate, softline retail and video games. Majestic Research's capabilities also include custom, primary and market research.

Founded on March 22, 2005, Majestic Research Corp. is an investment research firm headquartered in New York City. The firm is a subsidiary of Investment Technology Group, Inc. (NYSE: ITG). Majestic Research offers proprietary methods and tools for accessing real-time data. The firm leverages their relationships with proprietary industry data providers and their proprietary Web harvesting technology to generate insights from the analysis of numerous data points. They cover a variety of sectors including: airlines, casinos, consumer technology, cruise lines, hardline retail, healthcare, Internet, real estate, softline retail and video games. Majestic Research's capabilities also include custom, primary and market research.

ITG Investment Research, Inc. is an investment research firm located in New York City. The firm is a subsidiary of Investment Technology Group, Inc. (NYSE: ITG). Their research methods, data, and analysis produce unique, data-driven insights on the macro economy, individual industries and companies. The firm offers syndicate, premium and custom reports. ITG Research covers a wide variety of industries including: (1) Airlines (2) Cable & Satellite (3) Consumer Technology (4) Energy (5) Grocers (6) Medical Technology (7) Internet (8) Casinos (9) Cruise Lines (10) Lodging (11) Online Gaming (12) Real Estate/Home builders (13) Restaurants (14) Retail/Deep Discounters (15) Retail/Hardline (16) Retail/Softline (17) Wireless Carriers and (18) Video Games. It was founded on 22nd March, 2005 and is headquartered in New York, NY.

Founded on March 22, 2005, Majestic Research Corp. is an investment research firm headquartered in New York City. The firm is a subsidiary of Investment Technology Group, Inc. (NYSE: ITG). Majestic Research offers proprietary methods and tools for accessing real-time data. The firm leverages their relationships with proprietary industry data providers and their proprietary Web harvesting technology to generate insights from the analysis of numerous data points. They cover a variety of sectors including: airlines, casinos, consumer technology, cruise lines, hardline retail, healthcare, Internet, real estate, softline retail and video games. Majestic Research's capabilities also include custom, primary and market research.

ITG Investment Research, Inc. is an investment research firm located in New York City. The firm is a subsidiary of Investment Technology Group, Inc. (NYSE: ITG). Their research methods, data, and analysis produce unique, data-driven insights on the macro economy, individual industries and companies. The firm offers syndicate, premium and custom reports. ITG Research covers a wide variety of industries including: (1) Airlines (2) Cable & Satellite (3) Consumer Technology (4) Energy (5) Grocers (6) Medical Technology (7) Internet (8) Casinos (9) Cruise Lines (10) Lodging (11) Online Gaming (12) Real Estate/Home builders (13) Restaurants (14) Retail/Deep Discounters (15) Retail/Hardline (16) Retail/Softline (17) Wireless Carriers and (18) Video Games. It was founded on 22nd March, 2005 and is headquartered in New York, NY.

Founded on March 22, 2005, Majestic Research Corp. is an investment research firm headquartered in New York City. The firm is a subsidiary of Investment Technology Group, Inc. (NYSE: ITG). Majestic Research offers proprietary methods and tools for accessing real-time data. The firm leverages their relationships with proprietary industry data providers and their proprietary Web harvesting technology to generate insights from the analysis of numerous data points. They cover a variety of sectors including: airlines, casinos, consumer technology, cruise lines, hardline retail, healthcare, Internet, real estate, softline retail and video games. Majestic Research's capabilities also include custom, primary and market research.

ITG Investment Research, Inc. is an investment research firm located in New York City. The firm is a subsidiary of Investment Technology Group, Inc. (NYSE: ITG). Their research methods, data, and analysis produce unique, data-driven insights on the macro economy, individual industries and companies. The firm offers syndicate, premium and custom reports. ITG Research covers a wide variety of industries including: (1) Airlines (2) Cable & Satellite (3) Consumer Technology (4) Energy (5) Grocers (6) Medical Technology (7) Internet (8) Casinos (9) Cruise Lines (10) Lodging (11) Online Gaming (12) Real Estate/Home builders (13) Restaurants (14) Retail/Deep Discounters (15) Retail/Hardline (16) Retail/Softline (17) Wireless Carriers and (18) Video Games. It was founded on 22nd March, 2005 and is headquartered in New York, NY.

Founded on March 22, 2005, Majestic Research Corp. is an investment research firm headquartered in New York City. The firm is a subsidiary of Investment Technology Group, Inc. (NYSE: ITG). Majestic Research offers proprietary methods and tools for accessing real-time data. The firm leverages their relationships with proprietary industry data providers and their proprietary Web harvesting technology to generate insights from the analysis of numerous data points. They cover a variety of sectors including: airlines, casinos, consumer technology, cruise lines, hardline retail, healthcare, Internet, real estate, softline retail and video games. Majestic Research's capabilities also include custom, primary and market research.

ITG Investment Research, Inc. is an investment research firm located in New York City. The firm is a subsidiary of Investment Technology Group, Inc. (NYSE: ITG). Their research methods, data, and analysis produce unique, data-driven insights on the macro economy, individual industries and companies. The firm offers syndicate, premium and custom reports. ITG Research covers a wide variety of industries including: (1) Airlines (2) Cable & Satellite (3) Consumer Technology (4) Energy (5) Grocers (6) Medical Technology (7) Internet (8) Casinos (9) Cruise Lines (10) Lodging (11) Online Gaming (12) Real Estate/Home builders (13) Restaurants (14) Retail/Deep Discounters (15) Retail/Hardline (16) Retail/Softline (17) Wireless Carriers and (18) Video Games. It was founded on 22nd March, 2005 and is headquartered in New York, NY.

ITG Investment Research, Inc. is an investment research firm located in New York City. The firm is a subsidiary of Investment Technology Group, Inc. (NYSE: ITG). Their research methods, data, and analysis produce unique, data-driven insights on the macro economy, individual industries and companies. The firm offers syndicate, premium and custom reports. ITG Research covers a wide variety of industries including: (1) Airlines (2) Cable & Satellite (3) Consumer Technology (4) Energy (5) Grocers (6) Medical Technology (7) Internet (8) Casinos (9) Cruise Lines (10) Lodging (11) Online Gaming (12) Real Estate/Home builders (13) Restaurants (14) Retail/Deep Discounters (15) Retail/Hardline (16) Retail/Softline (17) Wireless Carriers and (18) Video Games. It was founded on 22nd March, 2005 and is headquartered in New York, NY.

ITG Investment Research, Inc. is an investment research firm located in New York City. The firm is a subsidiary of Investment Technology Group, Inc. (NYSE: ITG). Their research methods, data, and analysis produce unique, data-driven insights on the macro economy, individual industries and companies. The firm offers syndicate, premium and custom reports. ITG Research covers a wide variety of industries including: (1) Airlines (2) Cable & Satellite (3) Consumer Technology (4) Energy (5) Grocers (6) Medical Technology (7) Internet (8) Casinos (9) Cruise Lines (10) Lodging (11) Online Gaming (12) Real Estate/Home builders (13) Restaurants (14) Retail/Deep Discounters (15) Retail/Hardline (16) Retail/Softline (17) Wireless Carriers and (18) Video Games. It was founded on 22nd March, 2005 and is headquartered in New York, NY.

ITG Investment Research, Inc. is an investment research firm located in New York City. The firm is a subsidiary of Investment Technology Group, Inc. (NYSE: ITG). Their research methods, data, and analysis produce unique, data-driven insights on the macro economy, individual industries and companies. The firm offers syndicate, premium and custom reports. ITG Research covers a wide variety of industries including: (1) Airlines (2) Cable & Satellite (3) Consumer Technology (4) Energy (5) Grocers (6) Medical Technology (7) Internet (8) Casinos (9) Cruise Lines (10) Lodging (11) Online Gaming (12) Real Estate/Home builders (13) Restaurants (14) Retail/Deep Discounters (15) Retail/Hardline (16) Retail/Softline (17) Wireless Carriers and (18) Video Games. It was founded on 22nd March, 2005 and is headquartered in New York, NY.

Founded on March 22, 2005, Majestic Research Corp. is an investment research firm headquartered in New York City. The firm is a subsidiary of Investment Technology Group, Inc. (NYSE: ITG). Majestic Research offers proprietary methods and tools for accessing real-time data. The firm leverages their relationships with proprietary industry data providers and their proprietary Web harvesting technology to generate insights from the analysis of numerous data points. They cover a variety of sectors including: airlines, casinos, consumer technology, cruise lines, hardline retail, healthcare, Internet, real estate, softline retail and video games. Majestic Research's capabilities also include custom, primary and market research.

ITG Investment Research, Inc. is an investment research firm located in New York City. The firm is a subsidiary of Investment Technology Group, Inc. (NYSE: ITG). Their research methods, data, and analysis produce unique, data-driven insights on the macro economy, individual industries and companies. The firm offers syndicate, premium and custom reports. ITG Research covers a wide variety of industries including: (1) Airlines (2) Cable & Satellite (3) Consumer Technology (4) Energy (5) Grocers (6) Medical Technology (7) Internet (8) Casinos (9) Cruise Lines (10) Lodging (11) Online Gaming (12) Real Estate/Home builders (13) Restaurants (14) Retail/Deep Discounters (15) Retail/Hardline (16) Retail/Softline (17) Wireless Carriers and (18) Video Games. It was founded on 22nd March, 2005 and is headquartered in New York, NY.

ITG Investment Research, Inc. is an investment research firm located in New York City. The firm is a subsidiary of Investment Technology Group, Inc. (NYSE: ITG). Their research methods, data, and analysis produce unique, data-driven insights on the macro economy, individual industries and companies. The firm offers syndicate, premium and custom reports. ITG Research covers a wide variety of industries including: (1) Airlines (2) Cable & Satellite (3) Consumer Technology (4) Energy (5) Grocers (6) Medical Technology (7) Internet (8) Casinos (9) Cruise Lines (10) Lodging (11) Online Gaming (12) Real Estate/Home builders (13) Restaurants (14) Retail/Deep Discounters (15) Retail/Hardline (16) Retail/Softline (17) Wireless Carriers and (18) Video Games. It was founded on 22nd March, 2005 and is headquartered in New York, NY.

12 West Capital Management LP (12 West) is a SEC-registered investment advisor and hedge fund manager headquartered in New York City. The firm was founded by Joel Ramin in 2011 and they are owned by 12 West Capital Management LLC. 12 West provides investment management services to hedge funds. Investors in such private investment funds are generally high net-worth individuals and institutional investors.