|
|
 | | | |
- close
- close
- close
- close
| |||||||||
These excerpts taken from the NDAQ 10-K filed Feb 27, 2009. 13. Regulatory and Related Party Transactions
Prior to December 20, 2006 we were a subsidiary of FINRA and transactions between Nasdaq and FINRA were considered related party transactions. FINRA fully divested ownership of our common stock in 2006 and the preferred stock held by FINRA was redeemed by Nasdaq on December 20, 2006. Therefore, as of December 20, 2006, FINRA was no longer considered a related party.
F-73
Table of ContentsThe NASDAQ OMX Group, Inc.
Notes to Consolidated Financial Statements—(Continued)
Since we sought to preserve a regulatory separation upon operation as a national securities exchange, FINRA continues to provide regulatory services and charges us for costs incurred related to our market regulation and enforcement. These charges were included in regulatory expense in 2008 and 2007 and were included in support costs from related parties, net for 2006 in the Consolidated Statements on Income.
13. Regulatory and Related Party Transactions Prior to December 20, 2006 we were a subsidiary of FINRA and
F-73 Table of ContentsThe NASDAQ OMX Group, Inc. Notes to Consolidated Financial Statements—(Continued) Since we sought to preserve a regulatory separation upon operation as a national securities exchange,
SIZE="2">Surveillance and Other Regulatory Charges from FINRA
SIZE="2">As noted above, FINRA provides regulatory services to The NASDAQ Stock Market, The NASDAQ Options Market and, once fully implemented in March 2009, the markets operated or regulated by NASDAQ OMX BX, including the regulation of trading The following table represents the composition of costs, primarily charged by
This excerpt taken from the NDAQ 10-K filed Feb 25, 2008. 13. Regulatory and Related Party Transactions
Prior to December 20, 2006 we were a subsidiary of FINRA and transactions between Nasdaq and FINRA were considered related party transactions. As discussed in Note 1, “Organization and Nature of Operations,” FINRA achieved full divestiture of ownership of our common stock in 2006 and the one share of Series D preferred stock held by FINRA was redeemed by Nasdaq on December 20, 2006. Therefore, as of December 20, 2006, FINRA no longer maintains voting control of us and is not considered a related party.
Since we sought to preserve a regulatory separation upon operation as a national securities exchange, FINRA continues to provide regulatory services to the Exchange. FINRA charges us for costs incurred related to our market regulation and enforcement. These charges were included in regulatory expense in 2007 and were included in support costs from related parties, net for 2006 and 2005 in the Consolidated Statements on Income.
F-45
Table of ContentsThe Nasdaq Stock Market, Inc.
Notes to Consolidated Financial Statements—(Continued)
| EXCERPTS ON THIS PAGE:
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||
