NASDAQ OMX Group (NDAQ)

Reached new market share highs in the trading of U.S. equity options contracts. The combined market share of NASDAQ OMX PHLX and The NASDAQ Options Market averaged 20% during the first quarter of 2009, up from 15% in the first quarter of 2008. Total volume traded on these markets grew 26% in the first quarter of 2009 when compared to the same period last year.

Launched NASDAQ Basic, a data product that provides customers essential real-time quote and trading information for all U.S. exchange-listed securities in a flexible manner that can significantly lower data costs. NASDAQ Basic, which can be used as a low cost

alternative to Level 1, is based on trading on The NASDAQ Stock Market, the most liquid market for U.S.-listed equity securities. Global Data Products also launched Pathfinders, an innovative analytical product unique to NASDAQ OMX that tracks and provides indications of collective trading behavior by leading market participants in liquid U.S. equities.

Expanded the trade offering of NASDAQ OMX Nordic to include equities listed in Norway. This new offering is designed to provide lower trading costs and other benefits for customers seeking to trade all Nordic equities on one platform.

Captured a total of 20 new listings during the first quarter of 2009, including 16 on The NASDAQ Stock Market and four on the exchanges that comprise NASDAQ OMX Nordic and NASDAQ OMX Baltic. Included in new listings are four companies that switched their listing to NASDAQ from NYSE Euronext.

Announced that NASDAQ OMX is expanding its popular suite of listed company services through a partnership with Rivel Research Group, a leading investment research group. NASDAQ OMX and Rivel plan to launch Waypoint, a product designed to give companies immediate and cumulative perception on investment community sentiment.

Announced that TOCOM, Japan’s largest commodity futures exchange, is the first Japanese customer to go live with a new trading system from NASDAQ OMX. With more than 80 percent market share, TOCOM lists futures and options contracts for a wide range of commodities including metals, oil and rubber.

Reached new market share highs in the trading of U.S. equity options contracts. The combined market share of NASDAQ OMX PHLX and The NASDAQ Options Market averaged 18.6% during the fourth quarter of 2008, up from 16.0% in the fourth quarter of 2007, while reaching a high of 19.8% during the month of December. Total volume

The NASDAQ Stock Market matched 29.2% of all U.S. traded cash equity volume in the fourth quarter of 2008, an increase of 59.3% from the prior year quarter while matched average daily volume reached a record high of 3.1 billion shares. As a result, The NASDAQ Stock Market maintained its leading position as the largest single pool of liquidity in which to trade U.S.-listed equities.

Recently launched NASDAQ OMX BX (BX), a new venue for trading U.S. cash equities that utilizes NASDAQ OMX’s existing technology platform. While providing a second quote for U.S. equities, BX also offers customers greater flexibility and an alternate trading fee schedule.

During the fourth quarter of 2008, average daily trading volume for cash equities reached a record 250,497 trades on the exchanges comprising NASDAQ OMX Nordic and NASDAQ OMX Baltic. Total trades grew 16.7% from the prior year quarter and 19.6% from the third quarter of 2008.

Completed an 80% investment in the International Derivatives Clearing Group (IDCG) furthering NASDAQ OMX’s entrance into the derivatives market while leveraging assets from the OMX business combination and the PHLX acquisition. By partnering with IDCG, a highly efficient market is being created to trade, clear, and settle U.S. dollar interest rate swap futures contracts and other fixed income derivative contracts.

Acquired a 22% stake in the European Multilateral Clearing Facility N.V. (EMCF), a leading European clearing house, and signed an agreement with EMCF to use its central counterparty services for all transactions executed on the NASDAQ OMX Nordic exchanges. The strategic investment in EMCF and the introduction of central counterparty services in the Nordic markets is part of a broader commitment to reduce clearing and settlement costs for customers in Europe.

Completed an additional investment in Agora-X, LLC, resulting in our ownership of a 20% equity interest in the company, following the launch of Agora-X’s electronic communications network for institutional trading in over the counter commodity contracts. The platform provides a more liquid and transparent marketplace for price discovery and negotiation for agricultural swaps and swaptions, as well as swaps and options on ethanol.

NASDAQ OMX attracted 40 new listings in the fourth quarter of 2008, including 11 switches from exchanges operated by NYSE Euronext. Notable switches during the quarter included News Corporation (NASDAQ:NWSA & NWS); Automatic Data Processing (NASDAQ:ADP); Mylan Laboratories (NASDAQ:MYL); and Jack in the Box (NASDAQ:JACK). During the full-year 2008 NASDAQ OMX attracted 208 new listings, including 61 switches from exchanges operated by NYSE Euronext.

The Egyptian Exchange (EGX), a NASDAQ OMX Market Technology customer, announced the successful launch of a newly designed trading engine that is expected to create a more efficient marketplace and trading experience for EGX members. The fully integrated trading platform is intended to provide a much larger capacity, reduced cost and ease of operation. The system is capable of handling equities, debt, ETFs, futures, options, swaps and derivatives on a single platform.

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Launched the NASDAQ OMX Government Relief Index^SM (Nasdaq:QGRI), enabling investors to track the performance of U.S.-listed securities that are participating in U.S. government sponsored relief programs such as the Troubled Asset Relief Program or other direct government investments. NASDAQ OMX also introduced the OMX GES Sustainability Index, a benchmark index which comprises the 50 leading Nordic listed companies in terms of sustainability.

NASDAQ OMX Commodities and Nord Pool ASA, our third party partner, were chosen by the Futures & Options Association (FOA) in the United Kingdom (UK) to establish a spot and cash-settled derivatives power market with a full range of clearing services. FOA chose the consortium of NASDAQ OMX Commodities and Nord Pool ASA for the delivery of market and clearing services for the UK Wholesale Power Market. The parties plan to establish the market in the second quarter of 2009.

On October 21, 2008, NASDAQ OMX was added to the S&P 500 index, the most widely watched index of large-cap U.S. stocks.

Reached new market share highs in the trading of U.S. equity options contracts. The combined market share of NASDAQ OMX PHLX and The NASDAQ Options Market averaged 17.9% during the third quarter of 2008, up from 15.6% in the third quarter of 2007, while reaching a high of 19.0% during the month of August. Total volume traded grew 54.3% in the third quarter of 2008 when compared to the same period last year.

Total cash equity volume matched on NASDAQ in the third quarter of 2008 grew 47.2% from the prior year quarter while matched average daily volume reached a record high of 2.8 billion shares. NASDAQ matched 29.6% of all U.S. traded equity volume in the third quarter of 2008, maintaining its leading position as the largest single pool of liquidity in which to trade U.S.-listed equities. And NASDAQ continued to gain share in NYSE-listed securities, matching 23.3% of volume during the quarter.

Launched NASDAQ OMX Europe and recently completed the phased roll-out of trading for approximately 600 listed European equities. NASDAQ OMX also announced its intentions to launch a London listing venue by becoming a Recognized Investment Exchange.

Completed the acquisition of the Boston Stock Exchange (BSE). Subject to SEC approval, BSE will be renamed NASDAQ OMX BX and will be used to launch a second U.S. equities market.

Became the world leader in cleared power derivatives volumes following the October 21, 2008 acquisition of Nord Pool’s clearing, international derivatives and consulting subsidiaries. NASDSAQ OMX also launched NASDAQ OMX Commodities, which includes Nord Pool’s energy and carbon derivatives products.

Announced a binding agreement to acquire a 22% equity stake in the European Multilateral Clearing Facility N.V. (EMCF) from Fortis Bank Nederland (Holding) N.V. (FBN) on October 16, 2008. EMCF is a central counterparty clearing house for European equity trading on exchanges and multilateral trading facilities. NASDAQ OMX’s and FBN’s objective is to reinforce EMCF’s position as the leading cash equity central counter party clearing facility in Europe.

NASDAQ OMX attracted 62 new listings in the third quarter of 2008, including 21 new listings and 4 IPOs from China, 3 switches from the New York Stock Exchange and 16 from the American Stock Exchange. Notable switches from the NYSE during the quarter were the CME Group, Inc. (NASDAQ:CME), Seagate Technology (NASDAQ:STX), and Celera Corporation (NASDAQ:CRA). Also, Automatic Data Processing, Inc. switched its listing from NYSE to NASDAQ on October 21, 2008 while retaining its three-character ticker symbol ADP.

Board Recruiting, a service of NASDAQ OMX, announced that it created a strategic alliance with leading executive search firm Heidrick & Struggles to provide companies with enhanced services in board recruiting. The new offering will integrate the leadership assessment expertise of Heidrick & Struggles with Board Recruiting’s online matching system to provide clients with a broader array of choices in how they identify and recruit director candidates.

The NASDAQ OMX Group, Inc.

Completed the acquisition of the Philadelphia Stock Exchange, expanding NASDAQ OMX’s presence in the derivatives market. The Philadelphia Stock Exchange, renamed NASDAQ OMX PHLX, the third largest options market in the U.S., will operate as a distinct market alongside The NASDAQ Options Market (“NOM”). With this transaction, NASDAQ OMX has a combined market share of approximately 17.0% in the U.S. equity options market between its two markets and a much larger footprint in global derivatives.

Maintained NASDAQ’s leadership position as the largest single pool of liquidity in which to trade U.S.-listed equities, matching 29.6% of all volume for the second quarter of 2008. Total volume matched on NASDAQ grew 34.1% from the second quarter of 2007. NASDAQ also achieved new market share highs in the trading of NYSE-listed securities, matching 22.1% of volume during the quarter. And during the month of July, for the first time NASDAQ captured more trading in NYSE-listed securities than the New York Stock Exchange on certain trading days.

NASDAQ OMX continued the success of its Market Technology business as it was selected as the technology provider for the Tokyo Commodity Exchange (TOCOM) and the Hong Kong Mercantile Exchange (HKMEx). TOCOM is Japan’s largest commodity exchange with more than 75% market share, and lists commodities futures and options contracts, including metals, oil and rubber. HKMEx is a new commodity exchange that will offer uniquely-structured contracts to the international and domestic trading community.

The NASDAQ Closing Cross reached a record day in the quarter as it was used to calculate the entire family of U.S. Russell indexes during their annual reconstitution. Approximately 893.3 million shares representing a record $12.0 billion were executed in the Closing Cross.

The NOM, which began operations March 31, 2008, completed its first full quarter of operations. NOM is an electronic equity and index options market and the first options trading platform to offer true price/time priority. This market now regularly trades approximately 175,000 contracts per day, representing more than 1.0% of the total market.

NASDAQ became the first U.S. stock exchange to facilitate universal, free access to real-time trade data with the launch of “NASDAQ Last Sale,” — or the last quoted price — together with CNBC, Google, The Wall Street Journal Digital Network and Xignite.

NASDAQ OMX’s pan European market, now known as NASDAQ OMX Europe, selected European Multilateral Clearing Facility (EMCF), a wholly-owned subsidiary of Fortis, an international financial services provider, to deliver clearing services for NASDAQ OMX Europe. NASDAQ OMX Europe also launched proximity services, often known as “co-location,” enabling participants to locate their trading engines on-site in order to enhance trading speed. NASDAQ OMX Europe is expected to begin operations in September.

NASDAQ OMX attracted 54 new listings in the second quarter of 2008, with 42 new listings in the U.S. and 12 in the Nordic market. Included were 14 switches from the American Stock Exchange, bringing the total for the year to 32. A notable listing in the second quarter is the switch from the New York Stock Exchange of CA Inc. (Nasdaq:CA),

a leading independent IT management software company. CA Inc. became the first NYSE-listed company to transfer to NASDAQ and keep its two letter ticker symbol. Also, in July, CME Group (Nasdaq:CME) listed its common stock solely on The NASDAQ Global Select Market, ceasing its listing on the New York Stock Exchange.

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During the quarter NASDAQ OMX introduced 19 new and innovative indexes, such as the NASDAQ OMX Middle East North Africa Index (NASDAQ:QMEA), an index comprised of the largest and most liquid companies domiciled in Middle Eastern and North African (MENA) countries. And in partnership with Clean Edge, Inc., NASDAQ OMX introduced the NASDAQ OMX Clean Edge^® Global Wind Energy Index (Nasdaq:QWND), a new benchmark for the global wind energy sector that includes companies that are primarily manufacturers, developers, distributors, installers, and users of energy derived from wind sources.

NASDAQ expanded its leadership position as the largest single pool of liquidity in which to trade U.S. listed equities, matching a record high of 29.7% of all volume for the fourth quarter of 2007. NASDAQ also achieved new market share highs in the trading of NYSE-and Amex-listed securities, matching 18.8% and 35.2% of volume, respectively, during the quarter.

Announced the proposed acquisition of the Philadelphia Stock Exchange, the third largest options market in the U.S. and the nation’s oldest stock exchange. This transaction significantly diversifies NASDAQ’s product portfolio by providing NASDAQ with one of the premier options trading platforms in the U.S.

Received the necessary regulatory and shareholder approvals to allow NASDAQ to proceed with plans to combine with OMX and invest in DIFX. NASDAQ expects to complete this transaction in the first quarter of 2008.

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Expanded the Select Market Maker Program to NYSE-listed companies. The program is designed to bring NYSE-listed companies and the NASDAQ market making community together, while providing companies access to utilize NASDAQ’s Market Intelligence Desk^® (MID) and proprietary NASDAQ Online^® (NOL) at no cost. The Select Market Maker Program is focused on providing issuers with direct access to market information from market participants.

In partnership with a group of leading securities firms, NASDAQ announced its intention to form The PORTAL Alliance, an industry standard facility designed to serve the market for 144A equity securities. The PORTAL Alliance will work with third-party service providers to create an open, industry-standard facility for the private offering, trading, shareholder tracking and settlement of unregistered equity securities sold to qualified institutional buyers (“QIBs”).

NASDAQ expanded its leadership position as the largest single pool of liquidity in which to trade U.S. listed equities, matching 29.5% of all volume. NASDAQ also achieved new market share highs in the trading of NYSE-listed equities, matching a record high 18.0% of volume during the quarter.

Announced the proposed acquisition of the Boston Stock Exchange (BSE), providing NASDAQ with a second exchange license and, subject to SEC approval, utilization of the BSE Clearing Corporation.

NASDAQ has agreed to acquire all the shares of OMX that Borse Dubai has acquired or will acquire through its August 9 announced offer for OMX. NASDAQ’s acquisition of OMX has received the support of the OMX Board and OMX’s largest shareholders.

NASDAQ has agreed to acquire a 33 1/3% interest in DIFX, a subsidiary of Borse Dubai, and an international stock exchange located in Dubai. Working with DIFX, NASDAQ intends to develop DIFX into a regional center for capital formation.

Completed the sale of NASDAQ’s share capital of the London Stock Exchange for a $431.4 million pre-tax gain. Of the $1.8 billion in proceeds generated from the sale, $1.1 billion was used to retire outstanding debt obligations.

Launched the Portal Market, NASDAQ’s electronic trading platform for 144A private placement securities. This market is designed to encourage capital formation by improving the efficiency and transparency of the private placement market.

Began operation of The NASDAQ ETF Market, designed specifically for exchange traded funds (ETFs) and Index Linked Notes (ILNs), further strengthening NASDAQ’s leadership position in the U.S. ETF sector.

Launched the Select Market Maker Program, a certification program designed to recognize market makers who offer the highest levels of quoting and execution quality in NASDAQ-listed securities. Investors, NASDAQ-listed companies, funds, and prospective public companies benefit from the Select Market Maker Program through the ability to identify which firms continuously provide high-quality liquidity.

Launched NASDAQ Data Store, which provides online access to innovative data tools for institutional and individual investors. NASDAQ was also recognized as the world’s premier stock exchange for data feeds for the second consecutive year in the annual Waters Rankings.

Entered into an agreement to combine with OMX AB to create the world’s premier exchange and technology company.

NASDAQ became the largest single pool of liquidity in which to trade U.S. listed equities. NASDAQ also achieved new market share highs in the trading of U.S. listed equities, matching a record high 28.8% of traded volume; while share volume matched by NASDAQ grew 19.7% from the prior year quarter.

Quarterly operating income reached the highest level ever recorded for NASDAQ, increasing 172.7% from the prior year’s quarter and 21.6% from the prior quarter.

Expanded NASDAQ’s comprehensive suite of crossing products with the launch of the intra-day and post-close cross, enabling institutional-sized orders to find liquidity anonymously and with greater efficiency.

Announced plans to launch The NASDAQ ETF Market, a market segment designed specifically for exchange traded funds (ETFs) and Index Linked Notes (ILNs). The

program will further strengthen NASDAQ’s leadership position in the U.S. ETF sector. In June 2007, NASDAQ captured more U.S. ETF market share than any other U.S. exchange with total ETF volume at 52.1%

Quarterly operating income reached the highest level ever recorded for NASDAQ, increasing 94.7% from prior year and 19.5% from prior quarter.

For the quarter NASDAQ attracted 79.2% of all IPOs, with proceeds totaling $6.3 billion, or 67% of the $9.5 billion raised across all U.S. exchanges.

Achieved new market share highs in trading of U.S. listed equities. NASDAQ matched a record high 28.8% of consolidated U.S. listed equities in March. Matched market share for NYSE-listed stocks increased to 15.9% in March 2007, up from 7.7% in March 2006. Matched market share for Amex-listed stocks increased to 31.4% in March 2007, up from 23.4% in March 2006.

Completed the transfer of sponsorship functions for the QQQ and the BLDRS ETFs to PowerShares Capital Management. This transfer expands the distribution channels for the funds and brings greater investor access to these dynamic products.

Completed the migration of trading for non-NASDAQ stocks to our trading platform, effectively completing the INET integration.

Achieved new market share highs in trading NYSE- and Amex-listed stocks. Matched market share for NYSE-listed stocks increased in December 2006 to 14.2%, up from 5.5% in December 2005. Matched market share for AMEX-listed stocks increased to 24.6% in December 2006, up from 19.7% in December 2005.

Completed the migration to our single book platform for Nasdaq-listed securities, providing market participants with a deeper liquidity pool, improved system performance and greater order interaction.

Continued success in obtaining switches from other markets, with 94 companies transferring their listing to NASDAQ during the year.

Redeemed the Series D preferred stock that had been issued to NASD. NASD no longer maintains voting control over NASDAQ.

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Fully integrated the newly acquired press release newswire service, PrimeNewswire^SM.