This excerpt taken from the NYX 10-K filed Mar 25, 2008.
AND RESULTS OF OPERATIONS OF EURONEXT (2005 AND 2006)
The following discussion and analysis should be read in conjunction with Euronexts audited consolidated financial statements as of and for the years ended December 31, 2006 and 2005 included in this document. Euronexts consolidated financial statements have been prepared in accordance with IFRS as adopted by the European Union. IFRS differ in certain material respects from U.S. GAAP. For a discussion of certain material differences between IFRS and U.S. GAAPs, see Summary of Differences between IFRS and U.S. GAAP below and the related notes in Euronexts consolidated financial statements.