NASDOQ 2015

© Copyright 2006, The Nasdaq Stock Market, Inc. All rights reserved.© Copyright 2006, The Nasdaq Stock Market, Inc. All rights reserved. 1

© Copyright 2006, The Nasdaq Stock Market, Inc. All rights reserved. 2

NASDAQ: What we have achieved and where we are heading

NASDAQ 1sts

• The Global Select Market with the highest listing standards in the world

• Select Market Makers

• Highest achievement in dual, spin-off and switch listings for any exchange

• Achieved 20.7% market share for the top 10 most actively traded NYSE companies

• Independent Research Network (IRN) - Coverage and visibility for issuers

Technology Advancements

• NASDAQ IPO/Halt process

• Open, Closing & Intraday Crosses

• Most advanced Online trading system (Openview) for traders and our issuers

Corporate Acquisitions

• 25% of the London Stock Exchange

• Risk Management - Carpenter Moore

• Investor Relations - Shareholder.com & PrimeZone Wire Services

Alliance partners

• Corporate Governance – Equilar, BOD compensation

• MetricStream – SOX automated systems


TelecommServices

2%

Financials23%

Industrials10%

Energy& Utilities

3%

Consumer16%

Materials2%

Health Care19%

Information Technology

25%

NASDAQ is the World’s Most Recognized Market

Forbes data source: www.forbes.com. As of June 2006.Number of domestic companies listed on NASDAQ National Market. Consumer represents consumer discretionary and staples.Data source: FactSet Research Systems, Inc. Data as of May 2006.

Category-defining companies drawn from all sectors of the economy

• 50% of Fortune’s 100 Fastest Growing Companies

• 80% of Forbes “Top Brands” companies

NASDAQ is home to…


55

78

8 1 323 22

111126

11 10 5 12 9 8

1999 2000 2001 2002 2003 2004 2005 YTD August25, 2006

Includes common stocks, ADRs, and GDRS. Close end funds, REITS, and trusts are excluded.Source: EquiDesk, FactSet Research Systems, Inc., Bloomberg, and NASDAQ Economic Research.

486

397

63 51 56

170139

86

47 4834 35 23

79 7141

1999 2000 2001 2002 2003 2004 2005 YTD August25, 2006

NASDAQNYSE

NASDAQ is Home for IPOs

Since 1999, over 81% of all companies that have done an IPO in the leading U.S. exchanges have chosen NASDAQ.

All NASDAQ and NYSE IPOs

All International NASDAQ and NYSE IPOs

© Copyright 2006, The Nasdaq Stock Market, Inc. All rights reserved.© Copyright 2006, The Nasdaq Stock Market, Inc. All rights reserved. 5

NASDAQ Three Tier Market SystemOn February 15th, 2006, NASDAQ announced plans to create a new market tier for public companies that will have the highest initial listing standards in the world.

NASDAQ Global Select Expected Market Cap Distribution NASDAQ Global Select Expected Industry Distribution

NASDAQ Global Select Market NASDAQ Global Market NASDAQ Capital Market

• The NASDAQ Capital Market®, formerly The NASDAQ SmallCap Market, was renamed in 2005to reflect the core purpose of this market which is capital raising.

• The NASDAQ Global Select Market is being created for companies that meet the most stringent initial financial listing standards ever set by a stock market.

• The NASDAQ Global Market, formerly the NASDAQ National Market® has a new name thatmore accurately reflects the global leadership and international reach of our market and our listed companies.


Companies Choose NASDAQNYSE listed companies are transferring to and listing their spin-offs on NASDAQ.

NYSE Companies are listing their spin-offs on NASDAQ

NYSE Companies are switching to NASDAQ

“After a dual listing trial of nearly two years, we are convinced of NASDAQ’s commitment to a highly competitive, well regulated marketplace that is optimal for trading our stock.”

- Charles R. Schwab, Chairman and CEO, Charles Schwab

"As we look to our future as a publicly traded company, we concluded that NASDAQ, with its cadre of dynamic companies, state-of the-art electronic trading platform and focus on first-rate customer service, was a natural fit for us.“

-Glenn Tilton, Chairman, President & CEO, UAL

"We believe that our association with NASDAQ will afford us an opportunity to reinforce our position as a technology and market leader.“

-Mike Fister, President and CEO, Cadence Design Systems

“Listing on NASDAQ was the right choice for the new company. We look forward to a new and growing relationship with NASDAQ.”

- Sears spokesman Chris Brathwaite

NYSE Parent Company

NASDAQ Spin-Off Company

Liberty Media switched to NASDAQ in 2006.


Sweden($46.8bn)

Japan($27.2bn)

Israel($28.2bn)

Sweden ($18.7bn)

Canada($11.5bn)

India($18.1bn)

Norway($19.6bn)

U.K.($14.2bn)

Japan($10.6bn)

Netherlands($14.2bn)

U.K.($8.7bn)

Singapore($5.8bn)

Netherlands($9.3bn)

Bermuda($13.7bn)

Source: Bloomberg Financial Markets. Data as of June 14th 2006.The list excludes companies grandfathered on NASDAQ: Anglo American, CSK Corporation, Dai'ei Inc, Fuji Photo Film, Highveld Steel and Vanadium, Kirin Brewery Company, Nissan Motor, Rexam, Santos, Sanyo Electric, and Velcro Industries.

NASDAQ’s largest non-U.S. companies

Ireland($7.8bn)

Japan($21.5bn)

France($5.5bn)

Cayman Islands($9.1bn)

U.K($6.4bn)

328 foreign companies are listed on NASDAQ

South Africa($5.1bn)

http://www.mitsui.co.jp/tkabz/english/body.html

© Copyright 2006, The Nasdaq Stock Market, Inc. All rights reserved. 8© Copyright 2005, The Nasdaq Stock Market, Inc. All rights reserved.

Performance

© Copyright 2006, The Nasdaq Stock Market, Inc. All rights reserved.

Current Dealer Market vs. Auction Market

• 0 years of experience

• Undefined hybrid model

• ARCA/Euronext integration challenges

• Pressure from specialists to maintain floor

• Owned regulator

• 35 years of experience

• Well-defined

• INET complements current structure

• Independent regulator

Electronic Market Structure

• SIAC (2/3 NYSE, 1/3 AMEX)

• Untested acquiror

• INET easy to integrate

• Proven integrator – Brut

Integration

• Legacy infrastructure

• Significant ongoing technology issues

• Robust, proven technologyTechnology

Regulatory Structure

10

• Transitioning from member-owned organization

• Transitioning from utility

• For profit orientation

• Focus on costs

Corporate Culture

http://www.nyse.com/


Dealer Market is the Market of the FutureMost stock exchanges have eliminated trading floors.The remaining floor-based exchanges are building electronic networks to trade.

Exchange Date Current Use

London 1986 Space occupied by Knight Securities

Copenhagen 1987 Electronics/Record Shop

Paris 1991 Securities museum

Stockholm 1991 Nobel Prize museum

Milan 1996 Conference space

Switzerland 1996 Office space

Toronto 1997 Office space

Tokyo 1998 Visitor/Media center

Vienna 1998 Currently unused

Dublin 2000 Currently unused

Athens 2001 Conference space

Nobelmuseet (The Nobel Museum) in the former Stockholm Stock Exchange, built in 1778.

Only three auctions markets are currently standing:

New York Stock Exchange

American Stock Exchange

Argentina Stock Exchange


Superior Performing Market Based on SEC Definition

NASDAQ outperforms auction based exchanges on independent SEC mandated Order Execution Rule (605) measures, which compares execution quality among market centers using uniform statistics.

Average Execution Speed (Seconds)

22447

54

2821

13 10

$100 to$250

$250 to$500

$500 to$1,000

$1,000 to$5,000

$5,000 to$50,000

D o lla r V alue o f F lo a t (M ill io ns )

Average Effective Spread (Cents)

2.4 2.2 2.21.6

1.1

2.12.62.7

3.23.7

$100 to$250

$250 to$500

$500 to$1,000

$1,000 to$5,000

$5,000 to$50,000

D o llar V alue o f F lo a t (M illio ns )

Percent of Executions At or Within the Spread

92%95%96%96%95%86% 87% 87% 85% 82%

$100 to$250

$250 to$500

$500 to$1,000

$1,000 to$5,000

$5,000 to$50,000

D o llar V a lue o f F lo at (M ill io ns )

Execution speed effects efficiency

Faster execution speed maximizes the likelihood of completing the transaction at an investor’s price point.

Spread directly impacts investor cost

Tighter spreads lead to lower costs which make available more investor capital for investment allocation.

Trades relative to the spread indicates quality of execution

Higher execution quality provides investors with greater certainty of execution at the desired price.

See appendix for footnotes. NASDAQ data represents NASDAQ Execution CentersSource: Market Systems, Inc., April 2006

NASDAQNYSE


NASDAQ Provides Greater Market DepthNASDAQ’s competitive market structure produces greater liquidity and offers a broad reaching platform for issuers to convey their message.

Market participants commit capital and provide continuous liquidity

Multiple market makers provide greater liquidity, competition, and transparency for your investors.

Greater liquidity enhances trading

More stock can be bought or sold on NASDAQ without impacting the price.

Analysts provide multiple channels to disseminate your story to investors

More analyst sponsorship helps raise investor awareness and lowers volatility.

Liquidity Providers*55

413128

23

1 1 1 1 1

$100 to$250

$250 to$500

$500 to$1,000

$1,000 to$5,000

$5,000 to$50,000

D o lla r V alue o f F lo a t (M il lio ns )

Amivest Liquidity (000's)

$994$3,124 $6,738 $17,795

$117,736$97,193

$22,803$5,345$2,569$1,025

$100 to$250

$250 to$500

$500 to$1,000

$1,000 to$5,000

$5,000 to$50,000

D o llar V a lue o f F lo at (M illio ns )

Analyst Coverage18

117

53 2

4 58

15

$100 to$250

$250 to$500

$500 to$1,000

$1,000 to$5,000

$5,000 to$50,000

D o lla r V alue o f F lo a t (M ill io ns )

See appendix for footnotes.Source: FactSet Research Systems, Inc., June 2006.

NASDAQNYSE


NASDAQ Companies Have Higher Valuations - Across All Size Ranges and All Sectors

Average PE Ratio

27.831.9 33.5

31.232.9 33.5

30.026.9

25.829.8

27.6 27.824.4

18.6

< $100 MIL $100 - $250 MIL $250 - $500 MIL $500 MIL - $1 BIL $1 - $5 BIL $5 - $50 BIL > $50 BIL

Dollar V alue of Float ($mm)

NASDAQNYSE

Average PE Ratio

36.034.4

26.4

31.734.3 35.9

21.4

40.2

28.9

41.2

21.1

33.4

24.724.621.4

23.9

30.527.7 26.1

33.8

Consumer Discretionary Consumer Staples Energy Financials Health Care Industrials Information Technology M aterials TelecommunicationServices

Utilities

Sector: GICS Sector.Sample size: 2,952 Companies – NASDAQ: 1,556, NYSE: 1,396.Includes all domestic common stocks on Nasdaq National Market and the NYSE with current P/E > 0. Top and bottom 2% have been removed as outliers. Data Source: FactSet Research Systems, Inc. As of March 2006.


NASDAQ Stocks Have Higher Valuations

NASDAQ Companies sustain higher P/Es, on-average, than NYSE companies with like-kind 2-year forecasted growth rates.

CAGR NASDAQ NYSE NASDAQ NYSE1-5% 19.3 17.6 99 1496-10% 21.1 20.0 209 27411-15% 24.0 22.8 221 23516-20% 31.3 27.3 173 15521-25% 32.0 27.3 102 8326-30% 39.4 33.4 54 4331-35% 41.8 43.2 44 2836-40% 41.9 42.5 36 2541-45% 41.2 46.8 31 1946-50% 57.5 41.5 14 1851-60% 50.2 54.2 26 1661-70% 50.8 47.0 17 1371-80% 61.8 76.2 8 881-90% 69.5 56.6 13 691-100% 97.8 50.0 6 4

AVERAGE P/E Number of Companies

0

20

40

60

80

100

120

1-5

%

6-1

0%

11

-15

%

16

-20

%

21

-25

%

26

-30

%

31

-35

%

36

-40

%

41

-45

%

46

-50

%

51

-60

%

61

-70

%

71

-80

%

81

-90

%

91

-10

0%

NASDAQ

NYSE

2 Year Projected Compound Annual Growth Rate

CAGR is the 2 year projected compound annual growth rate. It is the year over year growth rate applied to an company's EPS. It measures two year's average EPS from the prior fiscal period (FY0) to the upcoming fiscal period (FY2).Sample size: 2,129 Companies – NASDAQ: 1,053, NYSE: 1,076. Companies with negative or >100% CAGR have been excluded for this analysis. (NASDAQ: 106 companies, NYSE: 141 companies)Includes all domestic common stocks on Nasdaq National Market and the NYSE with current P/E > 0. Top and bottom 2% have been removed as outliers. Data Source: FactSet Research Systems, Inc. As of March 2006.

Cu

rrent P/E

(March

20

06

)


Institutional Investors are Moving Their Trades Away from the Floor Towards Electronic MarketsThe percentage of trades occurring on the NYSE is continually decreasing as institutional investors take advantage of NASDAQ’s superior platform to receive more efficient, higher quality executions with lower spreads.

79.9%81.7%

79.8% 79.3% 79.5%78.1% 77.7%

79.0% 78.5% 77.8%78.9%

76.1% 76.7%75.7% 75.4% 74.8%

73.8%72.0%

70.0%70.9% 71.7%

69.5%68.6%

69.5%68.2%

J un-04

J ul-04

A ug-04

S e p-04

O c t-04

N o v -04

D e c -04

J a n-05

F e b-05

M a r-05

A pr-05

M a y-05

J un-05

J ul-05

A ug-05

S e p-05

O c t-05

N o v -05

D e c -05

J a n-06

F e b-06

M a r-06

A pr-06

M a y-06

J un-06

Average NYSE Historical Trading Volume

“The recent slide reflects huge changes in the business of trading stocks. Electronic competitors to the NYSE have gained ground as big investors such as hedge funds have increasingly used computerized strategies that rely on quick execution of buy and sell orders, especially in heavily traded stocks or when news affects a company's stock price. In those situations, the NYSE's human traders sometimes can't keep up”.

Wall Street Journal; November 29, 2005

"Trading on the floor today...is so different," says Jamie Selway, head of White Cap Trading, a New York brokerage firm. Just a few years ago, he says, "inertia" kept trades flowing to the NYSE floor, but those orders are now "portable" and can go anywhere.

Wall Street Journal; November 29, 2005© Copyright 2005, Wall Street Journal. All rights reserved.


Institutional Investors are Wary of NYSE Hybrid ModelFor 35 years NASDAQ has brought leadership and innovation to the markets, today our electronic market model is emulated around the world.

The Hybrid Market allows the Specialist to Remain in a Privileged Position

• Power to view incoming orders before the public

• Only person to have access to reserve, discretionary and hidden orders

• Trading in their proprietary account without interacting with public orders

Institutional Investors still have many concerns about the Hybrid Proposal

• Specialist is still in a privileged position against public interest

• Confusion as to how investors will interact with the auction model, the hybrid and Arca

• Best execution requirements

• Unproven technology

“Why were specialists the big winners here?” asked George Rutherfurnd, a Chicago based consultant to two trading organizations. “It appears

that the NYSE somehow convinced the SEC staff that the NYSE specialist system would not be economically viable… unless specialists were given

unimaginable competitive advantages to the detriment of the public orders”… “It’s a classic deal with the devil”… “totally contradicts the

original intent of the hybrid model”… “now basically foolish for us to post at the NYSE”.

Trader’s Magazine - June 2006 issue

“The NYSE hybrid plan is an attempt to meet the demands of regulators and customers, but simultaneously provide for the needs of specialist

member firms. Critics charge the NYSE decided, in the fifth amendment, to restore advantages of the specialists, who

supposedly had complained after the first four amendments.”Trader’s Magazine 2006

“..90 percent of our orders are placed electronically and, if we can't be treated fairly, then we will go to a place where electronic orders are

treated fairly.” Michael Buek- Head Trader

Vanguard

“The hybrid market is a securities market disaster waiting to happen. Even putting aside issues of unfairness to the trading public

(which IBAC is not prepared to do in regard to the ultimate shape of the hybrid market), we ask the Commission staff to envision the scenario in

this country's securities markets if the technology fails in a fully implemented NYSE hybrid market environment. Much of the

technology (specialists' algorithms, certain order types, broker technology) has not yet even been offered, let alone tested. That which has been tested has repeatedly failed.” .

Comment letter to SEC from Independent Broker Action Committee- March 2006

“…the proposal falls short of providing an effective trading system that will encourage investors to place orders on the Exchange”

Ari Burstein, ICI (Buyside Advisory)NASDAQ’s Market Model is What The NYSE is Trying to Create


Price


Listing and Annual FeesNASDAQ has lower listing fees for all levels of shares outstanding

Source: Fee schedule as of October 2006. NASDAQ Annual fees represent proposed fees filed with SEC 2/10/06 and are pending approval.

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000

1 5 10 15 20 25 30 50 75 100 150 Max

Shares Oustanding (Millions)

Fe

es

NYSE Initial Fees

NASDAQ Initial Fees

NYSE Annual Fees

NASDAQ Annual Fees

NASDAQ ADR Annual Fees

ORIGINAL LISTING FEES[1] CONTINUING ANNUAL FEES [2] ADR ANNUAL FEES [3]

NASDAQ NASDAQ NASDAQSHARES Global Global Global(MILLIONS) Market NYSE Market NYSE [3] Market

Up to 1 $100,000 $150,000 $30,000 $38,000 $21,225 1+ to 2 $100,000 $150,000 $30,000 $38,000 $21,225 2+ to 3 $100,000 $150,000 $30,000 $38,000 $21,225 3+ to 4 $100,000 $150,000 $30,000 $38,000 $21,225 4+ to 5 $100,000 $150,000 $30,000 $38,000 $21,225 5+ to 6 $100,000 $150,000 $30,000 $38,000 $21,225 6+ to 7 $100,000 $150,000 $30,000 $38,000 $21,225 7+ to 8 $100,000 $150,000 $30,000 $38,000 $21,225 8+ to 9 $100,000 $150,000 $30,000 $38,000 $21,225 9+ to 10 $100,000 $150,000 $30,000 $38,000 $21,225 10+ to 11 $100,000 $150,000 $35,000 $38,000 $26,500 11+ to 12 $100,000 $150,000 $35,000 $38,000 $26,500 12+ to 13 $100,000 $150,000 $35,000 $38,000 $26,500 13+ to 14 $100,000 $150,000 $35,000 $38,000 $26,500 14+ to 15 $100,000 $150,000 $35,000 $38,000 $26,500 15+ to 16 $100,000 $150,000 $35,000 $38,000 $26,500 16+ to 20 $100,000 $150,000 $35,000 $38,000 $26,500 20+ to 25 $100,000 150,000+ to 154,600 $35,000 $38,000 $26,500 25+ to 30 $100,000 154,600+ to 172,100 $37,500 38,000+ to 46,500 $29,820 30+ to 50 $125,000 172,100+ to 242,100 $37,500 38,000+ to 46,500 $29,820 50+ to 75 $150,000 242,100+ to 250,000 $45,500 46,500+ to 69,750 $29,820 75+ to 100 $150,000 250,000* $65,500 69,750+ to 93,000 $30,000100+ to 150 $150,000 250,000* $85,000 93,000+ to 139,500 $30,000over 150 million $150,000 250,000* $95,000 139,500+ to 500,000** $30,000

[1] The original listing fee for NYSE is based on the total number of shares listed, including all shares issued and outstanding, as well as shares reserved by the Board of Directors for a specific future issuance. The original fee for NASDAQ Global Market is based on total shares outstanding. Fees include one-time initial listing charges of $5,000 for NASDAQ Global Market, $36,800 for NYSE, applied for the first class of securities listed by an issuer.[2] Newly listed companies are billed the annual fee on a pro-rata basis at the end of the calendar year in which they are listed.[3] NYSE annual fees payable are the greater of amounts shown under a minimum fee schedule or a fee applied on a per share basis.* The initial fee component of the original listing fee for common shares is capped at $250,000, including the $36,800 special charge.** Maximum $500,000 annual listing fee applies to all securities listed by an issuer, other than derivative products, fixed income products, and closed end-funds.[4] NASDAQ ADR annual fees are capped at $30,000. NYSE ADR fees are the same as the schedule for ordinary shares.Source: Domestic listing fees for NASDAQ and NYSE; based on fees as of October 2006.


Comparative Listing Fees

NASDAQ annual fees are lower than both NYSE and proposed NYSE Arca fees across all TSO Ranges.

TSO Range (mil) NYSE Arca Proposed Fees NASDAQ NCM Fees Difference NYSE Fees NASDAQ NNM Fees Difference0 to 5 $100,000 $25,000 $75,000 $150,000 $100,000 $50,000

5 to 10 $100,000 $35,000 $65,000 $150,000 $100,000 $50,00010 to 15 $100,000 $45,000 $55,000 $150,000 $100,000 $50,00015 to 30 $100,000 $50,000 $50,000 $150,000 to $181,500 $100,000 $50,000 to $81,50030 to 50 $125,000 $50,000 $75,000 $181,500 to $250,000 $125,000 $50,000 to $81,500Over 50 $150,000 $50,000 $100,000 $250,000 $150,000 $50,000 to $81,500

Original Listing Fees

Annual Listing Fees

Fee Schedules as of March, 2006. Proposed NYSE Arca fees from SEC filing on 3/1/2006.

TSO Range (mil) NYSE Arca Proposed Fees NASDAQ NCM Fees Difference NYSE Fees NASDAQ NNM Fees Difference0 to 10 $30,000 $27,500 $2,500 $38,000 $30,000 $8,000

10 to 25 $30,000 to $35,625 $27,500 $2,500 to $8,125 $38,000 $35,000 $3,00025 to 50 $35,625 to $45,000 $27,500 $8,125 to $17,500 $38,000 to $46,500 $37,500 $500 to $9,00050 to 75 $45,000 to $54,375 $27,500 $17,500 to $26,875 $47,430 to $69,750 $45,000 $2,430 to $24,750

75 to 100 $54,375 to $63,750 $27,500 $26,875 to $36,250 $70,680 to $93,000 $65,500 $5,180 to $27,500100 to 150 $85,000 $27,500 $57,500 $93,000 to $139,500 $85,000 $8,000 to $54,500150 to 200 $85,000 $27,500 $57,500 $139,500 to $186,000 $95,000 $44,500 to $91,000200 to 250 $85,000 $27,500 $57,500 $186,000 to $232,500 $95,000 $91,000 to $137,500250 to 300 $85,000 $27,500 $57,500 $232,500 to $279,000 $95,000 $137,500 to $184,000

Over 300 $85,000 $27,500 $57,500 $279,000 to $500,000 $95,000 $184,000 to $405,000


Brand


The NASDAQ MarketSite Tower

NASDAQ companies can advertise on the largest

electronic screen in the US seen by millions of tourists and New

Yorkers in Times Square

NASDAQ MarketSite Events

• Bloomberg (USA, Brazil, Spain, Italy)

• BusinessWeek • BusinessWeek Weekend• CNBC ( USA, Asia, India)• Fox News• MSNBC• CNN (USA, India, International)• Phoenix TV China• New Tang Dynasty TV China• It’s About Finance.com• Business Canada• NDTV India• Reuters Japan• BBC• TV Tokyo• Sino TV

MarketSite Network Coverage

Visibility through: Market Open and Close Ceremonies, press conferences and interviews, listing anniversaries, product announcements, and other

special events

National Visibility in Times Square NYCThe MarketSite provides unbeatable visibility to reach potential investors and customers

NASDAQ's MarketSite has worldwide visibility. Over 150 broadcasts per day occur on

location from major domestic and global news media


2005 Highlights

• Over 100 participating companies with combined total market value of $650 billion.

• 800+ one-on-one meetings.

• In excess of 260 investors per event.

• Over 20,000 portfolio managers, brokers and analysts worldwide can view the presentations via the investors.NASDAQ.com webcast.

NASDAQ International Programs

Worldwide Visibility

• Europe currently has approximately $1 trillion invested in US Securities.

• In addition to their considerable purchasing power, European Investors are a longer term, more stable group of investors.

• 90% of the entire European institutional investor community investing in US Securities attend each year.

• International Programs have been taking place since the early 1990’s.

2006 Dates

• NASDAQ Growth Conference London, February 7-8 2006

• NASDAQ 17th Investor Program London, Spring 2006

• NASDAQ 18th Investor Program London, December 2006


Brand - NASDAQ is a Diversified Market of Leaders

Listed since 1975Listed since 1985

Listed since 1988

Listed since 1971

Listed since 1992

Listed since 1980Listed since 1978Listed since 1989

Listed since 1987Listed since 1971

Listed since 1999

Listed since 1970

Companies that List on NASDAQ Stay and Grow on NASDAQ

Listed since 1986

Listed since 1984

Listed since 1982

Listed since 1972


Many of the NYSE’s most respected companies are now choosing NASDAQ

“Listing on NASDAQ was the right choice for the new company. We look forward to a new and growing relationship with NASDAQ.”

- Sears spokesman Chris Brathwaite

"Cadence's experience with being dual listed gave us an opportunity to compare the relative benefits of both marketplaces. After careful analysis, we determined that the NASDAQ electronic trading platform is the preferred marketplace for many of the institutional investors trading Cadence shares." - Bill Porter, SVP and CFO, Cadence Design Systems, Inc.

“Since its inception, NASDAQ has shown a spirit of innovation and a focus on leveraging technology to provide investors the benefit of fast, high quality and low cost trade executions. After a dual listing trial of nearly two years, we are convinced of NASDAQ’s commitment to a highly competitive, well regulated marketplace that is optimal for trading our stock.”

- Charles R. Schwab, Chairman and CEO, Charles Schwab

http://welcome.hp.com/country/us/eng/welcome.html


“ ‘Everybody who does what I do feels like it’s basically a stacked deck down here,’ said James Malles, head of U.S. equity trading at UBS Global Asset Management, quoted in the Journal... ‘There's an inherent conflict. The specialists have to provide a fair and orderly market, but they can trade for their proprietary account. Those are clearly in conflict with each other.’ ”

James Glassman, American Enterprise Institute

Professional Investors Prefer NASDAQ NASDAQ’s high-speed, transparent market brings multiple market participants together and is increasingly the market of choice for professional investors.

“The liquidity in NASDAQ allows us to execute larger size in the big-name stocks more efficiently and quicker. You hit a button and get things done. With the New York, you have to think of strategies to break up your order. It is complicating rather than simplifying.”

Peter Jenkins, Head of North American Equity Trading, Deutsche Asset Management

“The New York Stock Exchange specialist system doesn’t enjoy the confidence of the institutional investor community. I don’t think that’s going to change anytime soon.”

Kevin Connellan, Head of Trading, Northern Trust Corp


Services


NASDAQ Corporate Services – Further driving down the costsThe NASDAQ Corporate Services is designed to provide listed companies the power to maximize their effectiveness in:

Risk Management: Provide solutions that protect companies against risk.

NASDAQ Insurance Agency is a full service corporate insurance broker specializing in the protection of Officers and Directors.

Corporate Governance: Provide solutions that empower companies to comply with new regulatory requirements while mitigating risk.

Equilar is viewed as the “gold standard” in executive compensation data.

National Association of Corporate Directors (NACD) provides NASDAQ-listed companies with corporate governance educational services at a discount.

WeComply, the leading provider of customizable online “Code of Conduct” training.

Investor Relations: Provide solutions for greater visibility to the investment community.

Shareholder.com, provides award-winning websites, and other critical services to help public companies communicate more openly with investors.

MetricStream Compliance products and solutions designed to enable public companies to better manage their compliance processes.

PrimeZone is one of the world’s leading full-text press release, newswire, photo and multimedia distribution services

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