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Friday, August 29, 2008

Equity Trader Alert #2008 - 92
NASDAQ Completed Acquisition of Boston Stock Exchange Today, August 29 2008

Please Route To:

Head Traders; Technical Contacts; Compliance Officers; Options Contacts; Buy-Side Contacts

What you need to know:

  • The NASDAQ OMX Group, Inc. completed its acquisition of the Boston Stock Exchange (BSE) today and will rename the exchange NASDAQ OMX BX (“BX”).
  • BX’s new venue for trading cash equities is targeted to launch in the fourth quarter of 2008 1.
  • Information regarding connectivity, testing and membership are available on the NASDAQ OMX BX page on the NASDAQ Trader website.

Who you should contact:

NASDAQ Market Sales at +1 800 846 0477

What did The NASDAQ OMX Group acquire?

The NASDAQ OMX Group, Inc.SM completed its acquisition of The Boston Stock Exchange today and will use it to offer a platform for trading U.S. equities — allowing for a separate Reg NMS protected quote. The exchange will be renamed NASDAQ OMX BXSM (“BX”).

What about the BSECC and BOX?

NASDAQ OMXSM also has acquired two BSE wholly-owned subsidiaries, Boston Options Regulation, LLC (BOXR) and the BSE Clearing Corporation (BSECC).

NASDAQ OMX has not acquired an interest in BSE’s options trading facility, the Boston Options Exchange (BOX). Instead, BSE’s ownership interest in Boston Options Exchange Group, LLC, the operator of BOX, has been transferred to MX US 2, a wholly-owned subsidiary of the Montreal Exchange Inc. However, BX, through BOXR, will operate as the regulatory services provider to BOX.

When will BX launch?

NASDAQ OMX is targeting the fourth quarter of 2008 to launch BX.

Will there be any testing opportunities prior to the launch?

Yes. BX will be available for testing on Saturday, September 13, 2008. Visit the Saturday Testing page for testing and registration information.

Where can I get additional information?

For additional information regarding BX, please visit the appropriate pages on the NASDAQ Trader® website as listed below:

Who can I contact for additional information?

1 The rules governing membership, member conduct and trading on BX are subject to SEC approval. Accordingly, the information provided in this alert is subject to future modification.


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Cautionary Note Regarding Forward-Looking Statements

The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about NASDAQ OMX’s acquisition of the Boston Stock Exchange. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX Group's control. These factors include, but are not limited to factors detailed in NASDAQ OMX Group's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.