January 2008

National Stock Exchange Introduces Aggressive New Pricing Schedule; Inverted Across All Securities

Thursday, January 31, 2008

National Stock Exchange SM. Inc. (NSX ) today announced the introduction of a new and simplified fee schedule, effective Friday, February 1, 2008. NSX’s new schedule offers advantages to both liquidity providers and liquidity removers and brings transparency to a component of the marketplace that has become increasingly difficult to understand.

Key features of the new pricing structure include: inverted pricing across all securities; highly aggressive pricing for both liquidity providers and liquidity removers; and market data rebates embedded in liquidity rebates for all Tapes.

NSX’s new pricing schedule applies to Automatic Execution (AutoEx) transactions only. Order Delivery pricing remains unchanged as NSX will continue to offer aggressive pricing for Order Delivery clients. A major change for AutoEx transactions comes in the fee to remove liquidity, where the current $0.0030 per share is reduced to $0.0025 per share executed across all Tapes for any ETP Holder who, as a liquidity provider, has an average daily executed volume of at least 50,000 shares, measured monthly.

Long a price leader in this industry, NSX is now able to deliver pricing advantages to all firms — both liquidity providers and takers, said Joseph S. Rizzello, NSX Chief Executive Officer. We listened to our customers, many of whom felt pricing was becoming increasingly complex at some market centers. So in addition to offering highly competitive pricing, we simplified our pricing structure and in doing so, brought much needed transparency and clarity to the process.

A summary of NSX’s new inverted pricing schedule is as follows:

For AutoEx Mode — Securities $1 and Above:

*Removing Liquidity

$0.0025/share (All Securities)

Providing Liquidity

$0.0026/share rebate (Tapes A and C)

$0.0030/share rebate (Tape B)

*$0.0030/share to remove liquidity if, as liquidity provider, executes less than 50K ADV per month in all securities.

A detailed overview of NSX’s new pricing can be found here. A comparative analysis with one of our competitors can be found here .

NSX is the cost-effective provider of exchange services, committed to aligning its interests with those of its customers. Acknowledged for its proven high-performance, low-latency technology, NSX is also a recognized resource for Exchange-Traded Fund (ETF) data. For more information on NSX, visit www.nsx.com.

National Stock Exchange Appoints Shane Swanson to NSX Boards

Thursday, January 17, 2008

National Stock Exchange SM. Inc. (NSX ) today announced the appointment of Shane Swanson as an At-Large Director on the National Stock Exchange, Inc. Board. He was also appointed to the Board of NSX Holdings, Inc. the Exchange’s parent company.

Mr. Swanson, a Managing Director in Citi Market & Banking’s Equities business, replaces Matthew Newton, also from Citi, who is stepping down from both NSX Boards.

Previously, Mr. Swanson was Director of Compliance at Automated Trading Desk, LLC. In that position, Mr. Swanson was responsible for overseeing the implementation of trading rules into ATD’s complex trading systems. He was actively involved in business development, contract negotiations and public commentary on rule proposals and at industry events. Before becoming Director of Compliance, he spent a spent a significant amount of time on the trade desk, learning trading and ATD’s systems from the ground up. Citi acquired ATD in 2007 to operate as a part of Citi’s Global Equities business.

NSX welcomes Shane and the knowledge of trading, systems and compliance he brings to our Boards, said Joseph Rizzello, NSX Chief Executive Officer and Chairman of NSX Holdings, Inc. His hands-on experience will provide valuable insight to NSX as we continue to execute our new business plan.

Before joining ATD, Mr. Swanson was in private practice at the law firm Buist Moore Smythe McGee P.A. from 1997 to 1999 and, before that, at Grimball & Cabaniss, LLC. from 1995 to 1997. He earned his Juris Doctor (JD), cum laude, from the University of South Carolina’s School of Law, after graduating magna cum laude from the University of South Carolina’s Honors College. Mr. Swanson is a member of the American, South Carolina and Charleston County Bar Associations and is co-chair of the Securities Traders Association Compliance Committee.

NSX is the cost-effective provider of exchange services, committed to aligning its interests with those of its customers. Acknowledged for its proven high-performance, low-latency technology, NSX is also a recognized resource for Exchange-Traded Fund (ETF) data. For more information on NSX, visit www.nsx.com.

NSX Announces Record Annual Net Cash Flow Into ETFs Surpassing $152 Billion

Thursday, January 10, 2008

National Stock Exchange SM (NSX ) today announced that net cash flow into U.S. listed Exchange-Traded Funds (ETFs) during 2007 totaled $152.2 billion through year-end, an increase of approximately 111 percent from 2006.

ETF assets reached a record $622.6 billion at year end 2007, up 44 percent from $432.7 billion at year end 2006. ETF notional trading volume also reached a record $14.5 trillion for 2007, an increase of approximately 115 percent over 2006.

This data is included in NSX’s December 2007 ETF Data Report released today. NSX began publishing month-end ETF Data Reports with the release of the June 2007 Report. These Data Reports are published promptly following the end of each calendar month.

The NSX monthly statistics include shares of open-end exchange-traded products, encompassing listed shares of investment companies, grantor trusts, Exchange-Traded Notes (ETNs) and commodity pools.

www.nsx.com/content/market-data .

www.nsx.com/content/etf-product-list .

www.nsx.com/content/market-data .

NSX is the cost-effective provider of exchange services, committed to aligning its interests with those of its customers. Acknowledged for its proven high-performance, low-latency technology, NSX is also a recognized resource for Exchange-Traded Fund (ETF) data. For more information on NSX, visit www.nsx.com.

National Stock Exchange Announces Bloomberg Tradebook Live on FINRA/NSX Trade Reporting Facility™

Wednesday, January 9, 2008

National Stock Exchange SM (NSX ) today announced that Bloomberg Tradebook LLC has migrated their matched trade reports to the FINRA/NSX Trade Reporting Facility (TRF).

Bloomberg began trade reporting over-the-counter transactions in all symbols to the FINRA/NSX TRF on January 2, 2008.

Joseph S. Rizzello, Chief Executive Officer of NSX, said, When we launched our new business plan a little over a year ago, one of our goals was to provide a viable alternative facility for those doing over-the-counter trading in exchange-listed stocks. Another goal was to accommodate the needs of the ECNs. We believe Bloomberg’s decision to bring their business to the FINRA/NSX TRF indicates that we are accomplishing what we set out to do and reinforces our commitment to aligning our needs with those of our customers. We welcome Bloomberg to NSX and look forward to a long relationship.

Bloomberg Tradebook LLC becomes the fourth major ECN to select NSX as one of their primary venues. Bloomberg joins BATS Trading, the first ECN on NSX BLADE. BATS went live on NSX BLADE on October 23, 2006, the day NSX launched the new technology platform. Less than a month later, Track ECN became the second ECN to connect to and quote on NSX BLADE. Most recently, Direct Edge ECN LLC began moving their public quotations onto NSX BLADE in mid-December 2007. This followed the migration of Direct Edge’s matched trade reports to the FINRA/NSX TRF, which began in late September 2007.

The FINRA/NSX TRF was launched on November 27, 2006 to facilitate OTC trade reporting for internally executed transactions in all NYSE, Nasdaq and Amex-listed stocks. The FINRA/NSX TRF and NSX BLADE were built from the ground up specifically to meet the speed, price and service needs of a post Regulation NMS environment and to accommodate the broadest range of users, including ECNs, algorithmic traders and agency brokers.

FINRA and TRF (Trade Reporting Facility) are trademarks of Financial Industry Regulatory Authority, Inc.; FINRA/NSX TRF is used under license from Financial Industry Regulatory Authority, Inc

NSX is the cost-effective provider of exchange services, committed to aligning its interests with those of its customers. Acknowledged for its proven high-performance, low-latency technology, NSX is also a recognized resource for Exchange-Traded Fund (ETF) data. For more information on NSX, visit www.nsx.com.