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NYX » Topics » Annual Salary

This excerpt taken from the NYX DEF 14A filed Mar 2, 2009.

Annual Salary

 

Name and Principal Position

    Year   

Position

    Salary(1)  

Duncan L. Niederauer(2)

    2008    Chief Executive Officer    $ 1,000,000  
   2007    Head of U.S. Cash Markets    $ 750,000  

Jean-François Théodore

    2008    Deputy Chief Executive Officer    € 675,000 (3)
   2007    Deputy Chief Executive Officer    € 595,000  

Michael S. Geltzeiler

    2008   

Group Executive Vice President,

Chief Financial Officer

    $ 750,000  
   2007    Executive joined in June 2008.   

John K. Halvey

    2008   

Group Executive Vice President and

General Counsel

    $ 750,000  
   2007    Executive joined in March 2008.   

Hugh Freedberg

    2008    Group Executive Vice President, Head
of Global Derivatives		    £ 385,000 (3)
   2007    Group Executive Vice President, Head
of Global Derivatives		    £ 385,000  

Joost van der Does de Willebois(4)

    2008    Executive Vice President and Head of Amsterdam Market and Corporate Communications    € 400,000 (3)
   2007    Acting Chief Financial Officer    € 382,500  

 

(1) Amounts represent annual base salary rates and differ from certain amounts in the Summary Compensation Table, which vary depending on the named executive officer’s length of service in a given year and whether the executive was compensated at the same salary level throughout the year.

 

(2) In 2007, Mr. Niederauer served as our Head of U.S. Cash Markets until he was appointed our Chief Executive Officer, effective December 1, 2007.

 

(3) Amounts for Messrs. Théodore, Freedberg and van der Does de Willebois are denominated in local currency. Between 2007 and 2008, there have been material fluctuations in exchange rates. For this reason, we felt that presentation in these executives’ local currencies better reflected overall compensation. Expressed in dollars, Mr. Théodore received $992,250 in 2008 and $815,150 in 2007; Mr. Freedberg received $712,250 in 2008 and $770,000 in 2007; and Mr. van der Does de Willebois received $588,000 in 2008 and $524,025 in 2007. For 2007, the applicable conversion rates were $1.37 per euro and $2.00 per pound sterling. For 2008, the applicable conversion rates were $1.47 per euro and $1.85 per pound. On February 25, 2009, Mr. Freedberg announced his intention to retire from NYSE Euronext effective May 1, 2009.

 

(4) Mr. van der Does de Willebois served as acting chief financial officer in 2007 following the departure of our previous chief financial officer and for part of 2008, until Mr. Geltzeiler’s arrival.

We intend to weight the annual compensation package for our named executives significantly toward performance-based and long-term pay to encourage achievement of annual corporate objectives and progress toward long-term goals. The salary levels for each title were developed taking into account historic salary practices, appropriate differentiation among the titles, the desire to achieve consistency across geographic locations and general views of competitive practice.

 

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Table of Contents

In evaluating competitive practice, we consider compensation levels at both a peer group consisting of publicly traded global marketplaces (“industry peers”) and a second peer group consisting of a blend of U.S. and non-U.S. domiciled companies that have a global reach, in addition to having characteristics such as brand name recognition, regulatory compliance obligations and a technology-dependent business component (“global peers”). We believe our salary levels are in the top quartile of our industry peers and at the median of our global peers. The HR&CC felt that these levels were appropriate given our size and competitive position in the relevant markets in which we operate. Please see Compensation Decision Process—Independent Consultant below for the companies comprising our industry peers and global peers.

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