|
|
 | | | |
- close
- close
- close
- close
| |||||||||
These excerpts taken from the NDAQ 10-K filed Feb 25, 2008. Broker Dealer Net Capital Requirements
Our broker-dealer subsidiaries, Nasdaq Execution Services, LLC and NASDAQ Options Services, LLC, are subject to regulatory requirements intended to ensure their general financial soundness and liquidity, which require that they comply with minimum capital requirements. At December 31, 2007, Nasdaq Execution Services was required to maintain minimum net capital of $0.3 million and had total net capital of approximately $18.9 million or $18.6 million in excess of the minimum amount required. At December 31, 2007, NASDAQ Options Services was also required to maintain minimum net capital of $0.3 million and had total net capital of approximately $4.7 million or $4.4 million in excess of the minimum amount required.
Broker Dealer Net Capital Requirements Our broker-dealer subsidiaries, Nasdaq Execution Services, LLC and NASDAQ Options Services, LLC, are subject to regulatory
available-for-sale securities. For investments classified as available-for-sale securities as of December 31, 2006, see Note 7, “Investments,” to the consolidated financial statements for further discussion. These securities are recorded in the Consolidated Balance Sheets at fair value with unrealized gains or losses, including foreign currency fluctuations, reported as a separate component of accumulated other comprehensive income, net of tax where applicable. Nasdaq and its subsidiaries adhere to an investment policy approved by The We regularly monitor and evaluate the realizable value of our investment security portfolio. When assessing securities for As of December 31, 2007, there were no hedges on our investments. However we periodically re-evaluate our hedging
while maximizing yields, without significantly increasing risk. These securities are subject to interest rate risk and their fair values may fluctuate with changes in interest rates. However, management does not believe that a 100 basis point fluctuation in market interest rates would have had a material effect on the carrying value of our fixed income securities during the year ended December 31, 2007. 59 Table of ContentsInvestment in the LSE On September 25, 2007, Nasdaq, through NAL, completed the sale of the shares at that time representing 28.0% of the
We had purchased foreign currency This excerpt taken from the NDAQ 10-Q filed Aug 1, 2007. Broker Dealer Net Capital Requirements Our broker-dealer subsidiaries, Nasdaq Execution Services, LLC and NASDAQ Options Services, LLC, are subject to regulatory requirements intended to ensure their general financial soundness and liquidity, which require that they comply with minimum capital requirements. At June 30, 2007, Nasdaq Execution Services was required to maintain minimum net capital of $0.3 million and had total net capital of approximately $26.6 million, or $26.3 million in excess of the minimum amount required. At June 30, 2007, NASDAQ Options Services was also required to maintain minimum net capital of $0.3 million and had total net capital of approximately $4.7 million, or $4.4 million in excess of the minimum amount required. This excerpt taken from the NDAQ 10-Q filed May 9, 2007. Broker Dealer Net Capital Requirements Our broker-dealer subsidiaries, Nasdaq Execution Services, LLC and NASDAQ Options Services, LLC are subject to regulatory requirements intended to ensure their general financial soundness and liquidity, which require that they comply with minimum capital requirements. At March 31, 2007, Nasdaq Execution Services was required to maintain minimum net capital of $0.3 million and had total net capital of approximately $24.8 million or $24.5 million in excess of the minimum amount required. At March 31, 2007, NASDAQ Options Services was also required to maintain minimum net capital of $0.3 million and had total net capital of approximately $1.6 million or $1.3 million in excess of the minimum amount required. This excerpt taken from the NDAQ 10-K filed Feb 28, 2007. Broker Dealer Net Capital Requirements
Our broker-dealer subsidiaries, Nasdaq Execution Services, LLC (formerly Brut, LLC) and NASDAQ Options Services, LLC (formerly Island Execution Services, LLC), are subject to regulatory requirements intended to ensure their general financial soundness and liquidity, which require that they comply with minimum capital requirements. At December 31, 2006, Nasdaq Execution Services was required to maintain minimum net capital of $0.3 million and had total net capital of approximately $38.4 million or $38.1 million in excess of the minimum amount required. At December 31, 2006, NASDAQ Options Services was also required to maintain minimum net capital of $0.3 million and had total net capital of approximately $1.7 million or $1.4 million in excess of the minimum amount required.
This excerpt taken from the NDAQ 10-Q filed Nov 8, 2006. Broker Dealer Net Capital Requirements Our broker-dealer subsidiaries, Nasdaq Execution Services, LLC and Island Execution Services, LLC, are subject to regulatory requirements intended to ensure their general financial soundness and liquidity, which require that they comply with minimum capital requirements. At September 30, 2006, Nasdaq Execution Services was required to maintain minimum net capital of $0.3 million and had total net capital of approximately $135.7 million or $135.4 million in excess of the minimum amount required. At September 30, 2006, Island Execution Services was also required to maintain minimum net capital of $0.3 million and had total net capital of approximately $1.7 million or $1.4 million in excess of the minimum amount required. On October 25, 2006, Island Execution Services was renamed Nasdaq Options Services, LLC.
35
Table of ContentsThis excerpt taken from the NDAQ 10-Q filed Aug 8, 2006. Broker Dealer Net Capital Requirements
Our broker-dealer subsidiaries, Brut, INET and Island Execution Services, LLC, are subject to regulatory requirements intended to ensure their general financial soundness and liquidity, which require that they comply with minimum capital requirements. On February 1, 2006, Brut and INET merged under a single broker-dealer, Brut LLC. At June 30, 2006, Brut LLC was required to maintain minimum net capital of $0.3 million and had total net capital of approximately $42.9 million or $42.6 million in excess of the minimum amount required. At June 30, 2006, Island Execution Services was also required to maintain minimum net capital of $0.3 million and had total net capital of approximately $1.6 million or $1.3 million in excess of the minimum amount required.
This excerpt taken from the NDAQ 10-Q filed May 10, 2006. Broker Dealer Net Capital Requirements
Our broker-dealer subsidiaries, Brut, INET and Island Execution Services, LLC, are subject to regulatory requirements intended to ensure their general financial soundness and liquidity, which require that they comply with minimum capital requirements. On February 1, 2006, Brut and INET merged under a single broker-dealer, Brut LLC. As of March 31, 2006, Brut LLC was required to maintain minimum net capital of $0.3 million and had total net capital of approximately $16.5 million or $16.2 million in excess of the minimum amount required. As of March 31, 2006, Island Execution Services was required to maintain minimum net capital of $1.0 million and had total net capital of approximately $1.5 million or $0.5 million in excess of the minimum amount required.
This excerpt taken from the NDAQ 10-K filed Mar 15, 2006. Broker Dealer Net Capital Requirements
Our broker-dealer subsidiaries, Brut, INET ATS and Island Execution Services, LLC, are subject to regulatory requirements intended to ensure their general financial soundness and liquidity, which require that they comply with certain minimum capital requirements. As of December 31, 2005, Brut was required to maintain minimum net capital of $0.3 million and had total net capital of approximately $6.7 million or $6.4 million in excess of the minimum amount required. As of December 31, 2005, Island Execution Services was required to maintain minimum net capital of $1.0 million and had total net capital of approximately $1.5 million or $0.5 million in excess of the minimum amount required.
As of December 31, 2005, INET ATS was required to maintain minimum net capital of $1.0 million and had a net capital deficiency of approximately $48.0 million or $49.0 million below the minimum amount required. This deficiency was due to INET ATS’s investment in a non-U.S. based money market fund that is not registered under the Investment Company Act of 1940. Accordingly, the balances in the fund are a non-allowable asset under SEC Rule 15c3-1, the net capital rule. INET ATS provided hind-sight notice that the net capital was below the minimum amount required under the net capital rule. On February 8, 2006, the funds were redeemed and invested in a money market fund registered under the Investment Company Act of 1940, which corrected the net capital deficiency position. No funds were lost and no customers suffered any loss.
57
Table of Contents | EXCERPTS ON THIS PAGE:
|
| |||||||
