This excerpt taken from the NDAQ DEF 14A filed Apr 3, 2009.
2008The Year in Review
2008 brought many high points for NASDAQ OMX and was the culmination of our transformation from a U.S.-based stock market to a major player in the global exchange space. To this end, we completed six business combinations or acquisitions during the year. In addition to combining Nasdaq and OMX, we completed acquisitions of the Philadelphia Stock Exchange, the Boston Stock Exchange, certain businesses of Nord Pool, Bloom Partners and a majority interest in International Derivatives Clearing Group. As a result of these acquisitions, as well as the launch of The NASDAQ Options Market and NASDAQ OMX Europe, NASDAQ OMX expanded from operating one cash equities exchange in the United States to operating markets in several asset classes in numerous countries. NASDAQ OMX also has expanded its range of products and services, which now include insurance brokerage and shareholder, directors and newswire services. In addition, through our market technology business, we provide technology services to over 70 marketplaces in 50 countries.
During 2008, we began the process of integrating these acquisitions and new products and services into a combined company and realizing the benefits from the acquisitions. In a year marked largely by transition and change, we reached our expense synergy targets for the OMX business combination and the Philadelphia Stock Exchange acquisition well ahead of schedule, and we exceeded our internal financial goals for the year. As a result, our 2008 executive compensation program reflects NASDAQ OMXs numerous achievements during the year.