NASDAQ OMX Group (NDAQ)

Financial Products Revenues

Financial Products revenues primarily include license fees for our trademark licenses related to financial products linked to our indexes issued in the U.S. and abroad. Financial Products revenues increased in the third quarter and first nine months of 2008

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compared with the same periods in 2007 primarily due to an increase in licensing fees and underlying assets associated with NASDAQ-licensed ETFs and increased licensed derivatives volumes, partially offset by a decrease in Portal applications as a result of economic conditions. Financial Products, through its PORTAL Market, facilitates the eligibility for clearing and settlement services at DTCC of PORTAL/Rule 144A securities.

Financial Products Revenues

Financial Products revenues primarily include license fees for our trademark licenses related to financial products linked to our indexes issued in the U.S. and abroad. Financial Products revenues increased in the second quarter and first six months of 2008 compared with the same periods in 2007 primarily due to an increase in licensing fees and underlying assets associated with NASDAQ-licensed ETFs and increased licensed derivatives volumes, partially offset by a decrease in Portal applications as a result of economic conditions. Financial Products, through its PORTAL Market, facilitates the eligibility for clearing and settlement services at Depository Trust and Clearing Corporation, or DTCC, of PORTAL/Rule 144A securities.