7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-09-30 2015-06-30 2015-03-31 2014-03-31 2013-12-31 2013-09-30 2013-06-30 2013-03-31 2012-12-31 2012-09-30 2012-06-30 2012-03-31 2011-12-31 2011-09-30 2011-06-30 2011-03-31 2010-12-31 2010-09-30 2010-06-30 2010-03-31 2009-12-31 2009-09-30 2009-06-30 2009-03-31 2008-12-31 2008-09-30 2008-06-30 2008-03-31 2007-12-31 2007-09-30 2007-06-30 2007-03-31 2006-12-31 2006-09-30 2006-06-30 2006-03-31 2005-12-31 2005-09-30 2005-06-30 2005-03-31 2004-12-31 2004-09-30 
      
    		                                                                                 
      cash flows from operating activities:
    		                                                                                 
      net income
    		423,000,000 451,000,000 395,000,000 355,000,000 305,000,000 222,000,000 233,000,000 196,000,000 294,000,000 266,000,000 301,000,000 240,000,000 294,000,000 306,000,000 283,000,000 259,000,000 289,000,000 341,000,000 298,000,000 225,000,000 264,000,000 241,000,000 203,000,000 203,000,000 150,000,000 174,000,000 247,000,000 -44,000,000 163,000,000 162,000,000 177,000,000 246,000,000 171,000,000 148,000,000 169,000,000 -225,000,000 131,000,000 70,000,000 132,000,000 138,000,000 132,000,000 9,000,000 103,000,000  113,000,000 88,000,000 42,000,000 85,000,000 88,000,000 92,000,000 84,000,000 81,000,000 108,000,000 91,000,000 103,000,000 135,000,000 100,000,000 94,000,000 60,000,000 42,000,000 59,000,000 68,000,000 94,000,000 36,764,000 60,116,000 101,637,000 121,363,000 78,963,000 364,993,000 56,129,000 18,316,000 63,035,000 30,226,000 16,644,000 17,988,000 17,146,000 17,802,000 13,971,000 12,771,000 7,431,000 -5,485,000 
      adjustments to reconcile net income to net cash from operating activities:
    		                                                                                 
      depreciation and amortization
    		158,000,000 157,000,000 156,000,000 153,000,000 152,000,000 153,000,000 155,000,000 125,000,000 64,000,000 65,000,000 69,000,000 63,000,000 63,000,000 65,000,000 67,000,000 81,000,000 66,000,000 68,000,000 63,000,000 53,000,000 51,000,000 50,000,000 48,000,000 47,000,000 47,000,000 48,000,000 48,000,000 51,000,000 53,000,000 53,000,000 53,000,000 48,000,000 48,000,000 47,000,000 45,000,000 45,000,000 46,000,000 41,000,000 38,000,000 35,000,000 33,000,000 34,000,000 35,000,000  33,000,000 28,000,000 27,000,000 27,000,000 26,000,000 25,000,000 26,000,000 28,000,000 28,000,000 26,000,000 27,000,000 28,000,000 25,000,000 25,000,000 25,000,000 26,000,000 28,000,000 26,000,000 24,000,000 26,849,000 27,624,000 22,193,000 15,912,000 9,594,000 9,661,000 9,796,000 9,839,000 10,584,000   24,549,000 20,221,000 13,639,000 14,933,000 18,193,000 21,339,000 18,871,000 
      share-based compensation
    		41,000,000 46,000,000 35,000,000 36,000,000 36,000,000 39,000,000 30,000,000 32,000,000 30,000,000 34,000,000 26,000,000 30,000,000 27,000,000 24,000,000 25,000,000 24,000,000 23,000,000 24,000,000 19,000,000 23,000,000 24,000,000 23,000,000 17,000,000 22,000,000 21,000,000 20,000,000 16,000,000 18,000,000 18,000,000 18,000,000 15,000,000 18,000,000 18,000,000 19,000,000 15,000,000 31,000,000 20,000,000 19,000,000 16,000,000 17,000,000 18,000,000 14,000,000 14,000,000  14,000,000 9,000,000 9,000,000 12,000,000 12,000,000 12,000,000 10,000,000 10,000,000 9,000,000 10,000,000 7,000,000 8,000,000 8,000,000 9,000,000 8,000,000 10,000,000 8,000,000 9,000,000 8,000,000 7,210,000 6,983,000 6,041,000 5,447,000 4,866,000 4,316,000 4,088,000 3,476,000 2,350,000          
      deferred income taxes
    		18,000,000 6,000,000 6,000,000 -5,000,000 -22,000,000 -38,000,000 -2,000,000 24,000,000 14,000,000 18,000,000 12,000,000 21,000,000 -18,000,000 18,000,000 17,000,000 0 39,000,000 35,000,000 20,000,000 22,000,000 22,000,000 -2,000,000 -1,000,000 56,000,000 -20,000,000 15,000,000 -16,000,000 313,000,000 24,000,000 -27,000,000 -9,000,000 14,000,000 -12,000,000 -21,000,000 29,000,000 -126,000,000   2,000,000 3,000,000 -9,000,000 -55,000,000 -10,000,000  13,000,000 -5,000,000 -23,000,000 36,000,000 16,000,000 -28,000,000 -8,000,000 22,000,000 3,000,000                             
      net gain on divestitures
    		2,000,000                                                                                 
      non-cash restructuring charges
    		   4,000,000 5,000,000   0 0 0 12,000,000         4,000,000    0            0 0 5,000,000 3,000,000 0 6,000,000 128,000,000   0 0 1,000,000 1,000,000 3,000,000 8,000,000 4,000,000                               
      net income from unconsolidated investees
    		-23,000,000 -23,000,000 -27,000,000   -3,000,000 -3,000,000  11,000,000 11,000,000 -14,000,000 -8,000,000 -8,000,000 -8,000,000 -7,000,000 38,000,000 -6,000,000 -27,000,000 -57,000,000 27,000,000 -54,000,000 -26,000,000 -17,000,000 -13,000,000 -16,000,000 -10,000,000 -45,000,000 -5,000,000 -6,000,000 -5,000,000 -2,000,000 -5,000,000 -4,000,000 -2,000,000 -4,000,000     -1,000,000 -1,000,000 -14,000,000           -1,000,000                             
      adenza purchase accounting adjustment
    		   0                                                                              
      other reconciling items included in net income
    		8,000,000 2,000,000 -11,000,000 -4,000,000 23,000,000 -11,000,000 27,000,000 8,000,000 1,000,000 5,000,000 16,000,000 21,000,000 3,000,000 -5,000,000 9,000,000 -3,000,000 -1,000,000 7,000,000 3,000,000 2,000,000 3,000,000 14,000,000 -1,000,000 1,000,000 3,000,000   5,000,000 1,000,000 6,000,000 3,000,000 7,000,000 -3,000,000 14,000,000 7,000,000 4,000,000 1,000,000 3,000,000 1,000,000 0 6,000,000 3,000,000                                        
      net change in operating assets and liabilities, excluding the effects of divestitures:
    		                                                                                 
      receivables
    		27,000,000 97,000,000 48,000,000 -94,000,000 -43,000,000 -39,000,000 -17,000,000 -72,000,000 3,000,000 62,000,000 10,000,000 -32,000,000 6,000,000 -36,000,000 -39,000,000 -38,000,000 8,000,000 18,000,000 6,000,000 -58,000,000 18,000,000 47,000,000 -174,000,000 -35,000,000 13,000,000 30,000,000 -50,000,000 -24,000,000 41,000,000 75,000,000 -127,000,000 -81,000,000 72,000,000 72,000,000 -38,000,000 -77,000,000    42,000,000 18,000,000 36,000,000 -42,000,000  -14,000,000 -36,000,000 14,000,000 -4,000,000 9,000,000 -15,000,000 -20,000,000 33,000,000 -1,000,000 -17,000,000 -26,000,000 13,000,000 63,000,000 9,000,000 -80,000,000 73,000,000 9,000,000 -25,000,000 -24,000,000 13,431,000 513,000 49,796,000 -32,187,000 31,872,000 -9,568,000 18,564,000 -67,370,000    -27,332,000 -2,433,000 -14,821,000 -1,298,000 -1,531,000 -9,807,000 -497,000 
      other assets
    		-17,000,000 18,000,000 66,000,000 -7,000,000 -45,000,000 7,000,000 -5,000,000 -16,000,000 15,000,000 3,000,000 7,000,000 57,000,000 16,000,000 11,000,000 14,000,000 2,000,000 -55,000,000 7,000,000 -94,000,000 -17,000,000 33,000,000 -59,000,000 69,000,000 -45,000,000 58,000,000 102,000,000 -288,000,000 -17,000,000 -63,000,000 1,000,000 39,000,000 -50,000,000 289,000,000 18,000,000 4,000,000 -53,000,000 24,000,000 -23,000,000 34,000,000  -4,000,000 17,000,000 -17,000,000  64,000,000   9,000,000 80,000,000 5,000,000 -23,000,000 9,000,000 -5,000,000 74,000,000 -9,000,000 18,000,000 -36,000,000 24,000,000 -85,000,000 138,000,000 -31,000,000 0 23,000,000 29,666,000 -21,153,000 -4,191,000 5,785,000 -15,049,000 32,611,000 5,673,000 -15,574,000 -9,946,000 951,000 -13,442,000 377,000 -8,364,000 -16,627,000 -48,000 78,000   
      accounts payable and accrued expenses
    		8,000,000 -13,000,000 -17,000,000 -17,000,000 -2,000,000 32,000,000 -73,000,000 39,000,000 96,000,000 24,000,000 -10,000,000 -8,000,000 21,000,000 -2,000,000 8,000,000 -13,000,000 5,000,000 -21,000,000 12,000,000 23,000,000 12,000,000 -58,000,000 28,000,000 -13,000,000 1,000,000 -71,000,000 34,000,000 27,000,000 -5,000,000 -54,000,000 65,000,000 6,000,000 16,000,000 -46,000,000 12,000,000   -9,000,000 14,000,000   36,000,000   -5,000,000 39,000,000 44,000,000 26,000,000 -17,000,000 11,000,000 -19,000,000 -17,000,000 -5,000,000 37,000,000 9,000,000 -1,000,000 -44,000,000 15,000,000 34,000,000 -122,000,000 4,000,000 -8,000,000 1,000,000 -28,153,000 16,098,000 6,867,000 24,960,000 -14,611,000 -22,717,000 -26,277,000 32,355,000 40,105,000 6,580,000 43,000 -4,577,000 16,192,000 8,576,000 2,980,000 -718,000   
      section 31 fees payable to sec
    		-411,000,000 147,000,000 -55,000,000 245,000,000 -140,000,000 144,000,000 -14,000,000 64,000,000 -164,000,000 58,000,000 -118,000,000   122,000,000 -9,000,000 48,000,000 -158,000,000 41,000,000 -93,000,000 161,000,000 -255,000,000 157,000,000 29,000,000 98,000,000 -136,000,000 101,000,000 -40,000,000 88,000,000 -204,000,000   97,000,000 -138,000,000 88,000,000 -27,000,000 82,000,000 -134,000,000 75,000,000 -18,000,000 -122,000,000 65,000,000 -42,000,000   -126,000,000 74,000,000 -26,000,000 73,000,000 -132,000,000 87,000,000 -37,000,000 76,000,000 -117,000,000 77,000,000 -12,000,000 63,000,000   -80,000,000 96,000,000 -72,000,000 89,000,000 -25,000,000 35,024,000 -95,365,000 32,037,000 -25,888,000 83,859,000 -112,564,000             
      accrued personnel costs
    		35,000,000 74,000,000 -134,000,000 23,000,000 97,000,000 24,000,000 -110,000,000 41,000,000 57,000,000 1,000,000 -86,000,000  50,000,000 -1,000,000 -82,000,000 33,000,000 51,000,000 -4,000,000 -52,000,000 38,000,000 33,000,000 14,000,000 -53,000,000 49,000,000 20,000,000 1,000,000 -79,000,000 59,000,000 31,000,000 6,000,000 -59,000,000 41,000,000 5,000,000 11,000,000 -98,000,000   36,000,000 -89,000,000 27,000,000 22,000,000 -67,000,000 -58,000,000   22,000,000 -52,000,000 28,000,000 10,000,000 15,000,000 -80,000,000 27,000,000 20,000,000 18,000,000 -55,000,000 23,000,000 18,000,000 15,000,000 -54,000,000 10,000,000 14,000,000 10,000,000 -75,000,000 68,383,000 -30,054,000 5,285,000 -22,742,000 17,498,000 13,013,000 8,824,000 -30,276,000 13,260,000 6,019,000 4,008,000 -23,494,000 9,400,000 9,215,000 8,821,000 -30,300,000   
      deferred revenue
    		-128,000,000 -139,000,000 257,000,000 59,000,000 -136,000,000 -130,000,000 274,000,000 -2,000,000 -99,000,000 -111,000,000 300,000,000 -70,000,000 -109,000,000 -97,000,000 292,000,000 -32,000,000 -57,000,000 -60,000,000 255,000,000 -55,000,000 -60,000,000 -74,000,000 204,000,000 -67,000,000 -60,000,000 -74,000,000 186,000,000 -67,000,000 -57,000,000 -77,000,000 208,000,000 -47,000,000 -72,000,000 -73,000,000 149,000,000 -61,000,000 -65,000,000 -36,000,000 147,000,000 -61,000,000 -63,000,000 121,000,000 128,000,000  -34,000,000 -58,000,000 105,000,000 -32,000,000 -43,000,000 -47,000,000 127,000,000 -34,000,000 -50,000,000 -38,000,000 108,000,000 -35,000,000 -40,000,000 -28,000,000 117,000,000 -29,000,000 -47,000,000 -18,000,000 98,000,000 -38,415,000 -50,760,000 -44,590,000 93,305,000 -32,973,000 -37,552,000 -33,385,000 111,085,000 -36,021,000 -30,459,000 -20,597,000 86,688,000 -33,299,000 -30,584,000 -23,460,000 83,597,000 -25,459,000 -19,293,000 
      other liabilities
    		80,000,000 -38,000,000 -56,000,000 -37,000,000 -17,000,000 32,000,000 35,000,000 -21,000,000 -22,000,000 -60,000,000 40,000,000 -34,000,000 0 -38,000,000 27,000,000 -15,000,000 -5,000,000 -272,000,000 14,000,000 -13,000,000 -105,000,000 114,000,000 -8,000,000 36,000,000 -5,000,000 -165,000,000 351,000,000 74,000,000 10,000,000 35,000,000 1,000,000 7,000,000 -44,000,000 -5,000,000 -19,000,000 40,000,000 -47,000,000 2,000,000 -20,000,000 30,000,000 -6,000,000 13,000,000 20,000,000   11,000,000 5,000,000 -27,000,000 -29,000,000 11,000,000 28,000,000 -37,000,000 1,000,000 16,000,000 -2,000,000 -2,000,000 7,000,000 -9,000,000 -14,000,000 11,000,000 -23,000,000 14,000,000 -6,000,000 26,782,000 -1,822,000 -6,845,000 -501,000 27,181,000 -28,874,000 291,000 -9,327,000 -1,091,000 -392,000 -815,000 105,000 -7,265,000 -962,000 -1,139,000 286,000 2,125,000  
      net cash from operating activities
    		221,000,000 746,000,000 663,000,000 705,000,000 244,000,000 460,000,000 530,000,000 417,000,000 300,000,000 414,000,000 565,000,000 494,000,000 232,000,000 375,000,000 605,000,000 384,000,000 232,000,000 73,000,000 394,000,000 435,000,000 -4,000,000 441,000,000 380,000,000 339,000,000 101,000,000 186,000,000 337,000,000 360,000,000 14,000,000 279,000,000 375,000,000 300,000,000 95,000,000 270,000,000 244,000,000 269,000,000 61,000,000 141,000,000 251,000,000 66,000,000 175,000,000 231,000,000 183,000,000  82,000,000 106,000,000 149,000,000 238,000,000 38,000,000 210,000,000 108,000,000 233,000,000 6,000,000                             
      capex
    		-69,000,000 -59,000,000 -49,000,000 -60,000,000 -56,000,000 -52,000,000 -39,000,000 -42,000,000 -37,000,000 -39,000,000 -40,000,000 -34,000,000 -41,000,000 -42,000,000 -35,000,000 -50,000,000 -32,000,000 -39,000,000 -42,000,000 -60,000,000 -60,000,000 -42,000,000 -26,000,000 -39,000,000 -25,000,000 -43,000,000 -20,000,000 -39,000,000 -27,000,000 -29,000,000 -16,000,000 -42,000,000 -38,000,000 -28,000,000 -36,000,000 -49,000,000 -34,000,000 -28,000,000 -23,000,000 -32,000,000 -35,000,000 -24,000,000 -31,000,000  -35,000,000 -25,000,000 -20,000,000 -24,000,000 -22,000,000 -25,000,000 -16,000,000 -37,000,000 -27,000,000                             
      free cash flows
    		152,000,000 687,000,000 614,000,000 645,000,000 188,000,000 408,000,000 491,000,000 375,000,000 263,000,000 375,000,000 525,000,000 460,000,000 191,000,000 333,000,000 570,000,000 334,000,000 200,000,000 34,000,000 352,000,000 375,000,000 -64,000,000 399,000,000 354,000,000 300,000,000 76,000,000 143,000,000 317,000,000 321,000,000 -13,000,000 250,000,000 359,000,000 258,000,000 57,000,000 242,000,000 208,000,000 220,000,000 27,000,000 113,000,000 228,000,000 34,000,000 140,000,000 207,000,000 152,000,000  47,000,000 81,000,000 129,000,000 214,000,000 16,000,000 185,000,000 92,000,000 196,000,000 -21,000,000                             
      cash flows from investing activities:
    		                                                                                 
      purchases of securities
    		-34,000,000 -95,000,000 -105,000,000 -54,000,000 -38,000,000 -74,000,000 -40,000,000 -182,000,000 -119,000,000 -213,000,000 -198,000,000 -59,000,000 -62,000,000 -99,000,000 -102,000,000 -47,000,000 -62,000,000 -147,000,000 -60,000,000 -31,000,000 -103,000,000 -57,000,000 -92,000,000 -195,000,000 -73,000,000 -210,000,000 -101,000,000                                                       
      proceeds from sales and redemptions of securities
    		67,000,000 220,000,000 105,000,000 58,000,000 22,000,000 75,000,000 44,000,000 292,000,000 131,000,000 112,000,000 184,000,000 15,000,000 83,000,000 146,000,000 76,000,000 19,000,000 106,000,000 132,000,000 28,000,000 30,000,000 138,000,000 120,000,000 114,000,000 114,000,000 120,000,000 171,000,000 138,000,000                                                       
      proceeds from divestitures, net of cash divested
    		0                                                                                 
      purchases of property and equipment
    		-69,000,000 -59,000,000 -49,000,000 -60,000,000 -56,000,000 -52,000,000 -39,000,000 -42,000,000 -37,000,000 -39,000,000 -40,000,000 -34,000,000 -41,000,000 -42,000,000 -35,000,000 -50,000,000 -32,000,000 -39,000,000 -42,000,000 -60,000,000 -60,000,000 -42,000,000 -26,000,000 -39,000,000 -25,000,000 -43,000,000 -20,000,000 -39,000,000 -27,000,000 -29,000,000 -16,000,000 -42,000,000 -38,000,000 -28,000,000 -36,000,000 -49,000,000 -34,000,000 -28,000,000 -23,000,000 -32,000,000 -35,000,000 -24,000,000 -31,000,000  -35,000,000 -25,000,000 -20,000,000 -24,000,000 -22,000,000 -25,000,000 -16,000,000 -37,000,000 -27,000,000 -14,000,000 -10,000,000 -10,000,000 -12,000,000 -9,000,000 -11,000,000 -13,000,000 -15,000,000 -15,000,000 -16,000,000 -15,684,000 -12,561,000 -12,545,000 -13,929,000 -4,812,000 -5,901,000 -3,699,000 -4,077,000 -8,775,000 -6,271,000 -5,339,000 -650,000 -11,858,000 -4,512,000 -3,793,000 -5,239,000   
      investments related to default funds and margin deposits
    		-44,000,000 -171,000,000 -204,000,000 -944,000,000 151,000,000 270,000,000 -184,000,000 -138,000,000 167,000,000 -14,000,000 -89,000,000 167,000,000 246,000,000 170,000,000 -372,000,000                                                                   
      other investing activities
    		-65,000,000 -6,000,000 -5,000,000 -8,000,000 -6,000,000 -5,000,000 -13,000,000 0 -8,000,000 -5,000,000 10,000,000 -15,000,000 -7,000,000 12,000,000 43,000,000 -3,000,000 -17,000,000 -66,000,000 -1,000,000 -35,000,000 13,000,000 -12,000,000 7,000,000 0 -1,000,000 -7,000,000 -6,000,000                                                       
      net cash from investing activities
    		-145,000,000 -59,000,000 -258,000,000 -1,008,000,000 73,000,000 214,000,000 -232,000,000 -5,836,000,000 134,000,000 -159,000,000 -133,000,000 74,000,000 219,000,000 146,000,000 -390,000,000 -213,000,000 -5,000,000 70,000,000 -2,505,000,000 -74,000,000 -12,000,000 9,000,000 -154,000,000 -109,000,000 32,000,000 -89,000,000 -74,000,000 -31,000,000 76,000,000 159,000,000 -8,000,000 -817,000,000 31,000,000 -96,000,000 -8,000,000 -66,000,000 -18,000,000 -1,279,000,000 -294,000,000 36,000,000 -92,000,000 -326,000,000 -46,000,000  -42,000,000 -1,128,000,000 -14,000,000 -101,000,000 -13,000,000 -77,000,000 63,000,000 -50,000,000 -20,000,000                             
      cash flows from financing activities:
    		                                                                                 
      repayments of commercial paper
    		    -50,000,000 -174,000,000 -67,000,000  -138,000,000 -207,000,000 -317,000,000                    -18,000,000                                                   
      repayments of debt and credit commitment
    		-69,000,000 -400,000,000 -257,000,000                                                                               
      repurchases of common stock
    		-115,000,000 -100,000,000 -115,000,000 0 -87,000,000   -110,000,000 0 0 -159,000,000 0 0 -166,000,000 -142,000,000 -58,000,000 0 -248,000,000 -162,000,000 -36,000,000 -34,000,000 -30,000,000 -122,000,000 0 -150,000,000                                                         
      dividends paid
    		-155,000,000 -155,000,000 -138,000,000 -138,000,000 -138,000,000 -138,000,000 -127,000,000 -127,000,000 -108,000,000 -108,000,000 -98,000,000 -98,000,000 -99,000,000 -97,000,000 -89,000,000 -90,000,000 -91,000,000 -88,000,000 -81,000,000 -81,000,000 -81,000,000 -80,000,000 -78,000,000 -77,000,000 -78,000,000 -77,000,000 -73,000,000                                                       
      proceeds received from employee stock activity and other issuances
    		0    0   11,000,000 0   7,000,000 -1,000,000   9,000,000 0   36,000,000 1,000,000                                                             
      payments related to employee shares withheld for taxes
    		-4,000,000 -34,000,000 -25,000,000 -4,000,000 -2,000,000 -30,000,000 -24,000,000 -2,000,000 -2,000,000 -28,000,000 -40,000,000 -5,000,000 -1,000,000 -20,000,000 -52,000,000 -12,000,000 -2,000,000 -8,000,000 -39,000,000 -9,000,000 0 -3,000,000 -28,000,000 -8,000,000 -1,000,000 0 -30,000,000 -6,000,000 -1,000,000 -1,000,000 -42,000,000 -6,000,000 -16,000,000 -2,000,000 -47,000,000 -7,000,000 -1,000,000 -23,000,000 -34,000,000 -1,000,000 -3,000,000 -24,000,000 -21,000,000                                       
      default funds and margin deposits
    		503,000,000 -801,000,000 -549,000,000 290,000,000 76,000,000 -79,000,000 -1,317,000,000 801,000,000 -1,143,000,000 362,000,000 2,000,000 -3,006,000,000 1,892,000,000 2,698,000,000 856,000,000                                                                   
      other financing activities
    		 0 1,000,000 30,000,000    0   -1,000,000 2,000,000 1,000,000 -1,000,000 -1,000,000 0 -1,000,000 9,000,000 -1,000,000 0 0 1,000,000 2,000,000                    1,000,000     -3,000,000 0        -2,000,000                         
      net cash from financing activities
    		159,000,000 -1,462,000,000 -1,083,000,000 -24,000,000 -204,000,000 -458,000,000 -1,875,000,000 1,201,000,000 -1,397,000,000 5,029,000,000 -613,000,000 -3,239,000,000 1,572,000,000 2,335,000,000 368,000,000 2,119,000,000 -321,000,000 -532,000,000 152,000,000 1,791,000,000 -114,000,000 -762,000,000 468,000,000 -208,000,000 -156,000,000 -271,000,000 -302,000,000 -121,000,000 -71,000,000 -498,000,000 -337,000,000 365,000,000 46,000,000 -272,000,000 -192,000,000 -91,000,000 -130,000,000 1,155,000,000 68,000,000 -133,000,000 -92,000,000 4,000,000 -153,000,000  -121,000,000 812,000,000 -35,000,000 -82,000,000 -86,000,000 -158,000,000 -159,000,000 -220,000,000 -9,000,000                             
      effect of exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents
    		5,000,000 245,000,000 403,000,000 -462,000,000 205,000,000 31,000,000 -311,000,000 502,000,000 -70,000,000 -259,000,000 29,000,000 431,000,000 -1,042,000,000 -518,000,000 -164,000,000 -323,000,000 -4,000,000 7,000,000 -11,000,000 13,000,000                                                              
      net decrease in cash and cash equivalents and restricted cash and cash equivalents
    		240,000,000 -530,000,000 -275,000,000    -1,888,000,000                                                                           
      cash and cash equivalents, restricted cash and cash equivalents at beginning of period
    		0 0 5,006,000,000 0 0 0 7,118,000,000 0 0 0 6,994,000,000 0 0 0 5,496,000,000                                                                   
      cash and cash equivalents, restricted cash and cash equivalents at end of period
    		240,000,000 -530,000,000 4,731,000,000 -789,000,000 318,000,000 247,000,000 5,230,000,000 -3,716,000,000 -1,033,000,000 5,025,000,000 6,842,000,000 -2,240,000,000 981,000,000 2,338,000,000 5,915,000,000                                                                   
      reconciliation of cash, cash equivalents and restricted cash and cash equivalents
    		                                                                                 
      cash and cash equivalents
    		-262,000,000 42,000,000 690,000,000 326,000,000 -150,000,000 28,000,000 388,000,000 -4,887,000,000 -7,000,000 4,974,000,000 373,000,000 201,000,000 -153,000,000 -32,000,000 486,000,000                                                                   
      restricted cash and cash equivalents
    		32,000,000 177,000,000 18,000,000 -11,000,000 18,000,000 3,000,000 21,000,000 -5,000,000 2,000,000 -34,000,000 57,000,000 -29,000,000 21,000,000 -1,000,000 31,000,000                                                                   
      total
    		240,000,000 -530,000,000 4,731,000,000 -789,000,000 318,000,000 247,000,000 5,230,000,000 -3,716,000,000 -1,033,000,000 5,025,000,000 6,842,000,000 -2,240,000,000 981,000,000 2,338,000,000 5,915,000,000                                                                   
      supplemental disclosure cash flow information
    		                                                                                 
      interest paid
    		74,000,000 84,000,000 125,000,000 90,000,000 89,000,000 81,000,000 145,000,000 88,000,000 22,000,000 30,000,000 37,000,000 33,000,000 23,000,000                                                                     
      income taxes paid, net of refund
    		44,000,000 131,000,000 45,000,000 122,000,000 134,000,000 79,000,000 23,000,000 56,000,000 62,000,000 118,000,000 18,000,000 70,000,000 71,000,000                                                                     
      net change in operating assets and liabilities:
    		                                                                                 
      extinguishment of debt and bridge fees
    		       0 0                                                                         
      net (income) income from unconsolidated investees
    		   -9,000,000                                                    0 -1,000,000                         
      operating lease asset impairments
    		       0 0                                                                         
      acquisition of businesses, net of cash and cash equivalents acquired
    		           0 0   0 0 0 -2,430,000,000 0 0 0 -157,000,000             0 0 -1,247,000,000 -213,000,000 0 0 -226,000,000                                        
      proceeds from (repayments of) commercial paper
    		           459,000,000 -220,000,000 419,000,000 -420,000,000 -60,000,000 259,000,000 -214,000,000 435,000,000 0 0 -349,000,000 -42,000,000 -148,000,000 72,000,000 -73,000,000 265,000,000 -35,000,000 41,000,000                                                     
      proceeds from issuances of debt, net of issuance costs
    		       597,000,000 -5,000,000                                                                         
      asr agreement
    		           0 0 0 -325,000,000 0                                                                  
      net increase in cash and cash equivalents and restricted cash and cash equivalents
    		   -789,000,000 318,000,000   -3,716,000,000 -1,033,000,000 5,025,000,000 -152,000,000 -2,240,000,000 981,000,000 2,338,000,000 419,000,000 1,967,000,000 -98,000,000 -382,000,000 -1,970,000,000 2,165,000,000                                                              
      repayments of term loan
    		    0 0 -340,000,000                                                                           
      payment of debt extinguishment cost and bridge fees
    		       0 0                                                                         
      net gain on divestiture of business
    		                0          -27,000,000                                                       
      net change in operating assets and liabilities, net of effects of acquisitions:
    		                                                                                 
      proceeds from divestiture of business, net of cash divested
    		                0                                                                 
      extinguishment of debt
    		           0 0   0    0 0 0 36,000,000                                                           
      proceeds from sale of investment securities
    		                                                                                 
      payment of debt extinguishment cost
    		           0 0   0    0 0 0 -36,000,000 0 0       0 0                                                 
      proceeds from issuances of debt, net of issuance costs and utilization of credit commitment
    		           0 0 0 541,000,000                                                                   
      repayments of borrowings under our credit commitment
    		            0                                                                     
      cash paid for:
    		                                                                                 
      interest
    		              23,000,000  9,000,000 51,000,000 19,000,000 28,000,000 0 36,000,000 33,000,000 23,000,000 12,000,000 62,000,000 23,000,000 27,000,000 32,000,000 56,000,000 33,000,000 15,000,000 17,000,000 68,000,000 29,000,000 23,000,000 29,000,000 39,000,000 28,000,000 26,000,000 38,000,000 27,000,000 36,000,000  37,000,000 3,000,000 37,000,000 2,000,000 38,000,000 2,000,000 38,000,000 5,000,000 45,000,000 3,000,000 33,000,000 4,000,000   4,000,000 13,000,000 20,000,000 16,000,000 22,000,000 30,401,000 22,040,000 13,650,000 1,126,000   23,083,000 25,849,000     6,710,000 4,645,000 1,487,000 2,863,000 2,868,000 2,873,000 
      income taxes, net of refund
    		              29,000,000 76,000,000 32,000,000 348,000,000 45,000,000 72,000,000 138,000,000 39,000,000 41,000,000 16,000,000 60,000,000 107,000,000 22,000,000 26,000,000 96,000,000 72,000,000 27,000,000 28,000,000 67,000,000 33,000,000 26,000,000 24,000,000 40,000,000 92,000,000 35,000,000 35,000,000 93,000,000 18,000,000 11,000,000  5,000,000 89,000,000 11,000,000 61,000,000 37,000,000 57,000,000 22,000,000 40,000,000 52,000,000 0 37,000,000 35,000,000   14,000,000 -1,000,000 17,000,000 87,000,000 50,000,000 50,310,000 64,422,000 125,201,000 26,330,000   50,992,000 11,126,000       18,907,000 5,035,000   
      net gain on divestiture of businesses
    		                       0 0   0                                                      
      proceeds from divestiture of businesses, net of cash divested
    		                                                                                 
      repayments of borrowings under our credit commitment and debt obligations
    		               0 -704,000,000 0 -100,000,000 2,000,000 0                                                             
      cash paid for: interest
    		                                                                                 
      proceeds from issuances of long-term debt, net of issuance costs and utilization of credit commitment
    		                726,000,000 0 100,000,000 1,879,000,000 0                                                             
      cash and cash equivalents and restricted cash and cash equivalents at beginning of period
    		                0 0 2,782,000,000 0                                                              
      cash and cash equivalents and restricted cash and cash equivalents at end of period
    		                -98,000,000 -382,000,000 812,000,000 2,165,000,000                                                              
      reversal of certain swedish tax benefits
    		                           0 0                                                     
      gain on sale of investment security
    		                                                                                 
      net change in operating assets and liabilities, net of effects of divestiture and acquisitions:
    		                                                                                 
      proceeds from divestiture of businesses
    		                       24,000,000 0   0 -8,000,000                                                     
      proceeds from divestiture of business
    		                          108,000,000                                                       
      effect of exchange rate changes on cash and cash equivalents and restricted cash
    		                     9,000,000 -12,000,000 7,000,000 -7,000,000 -2,000,000 -8,000,000 2,000,000 1,000,000   0 5,000,000 8,000,000 2,000,000                                               
      net increase in cash and cash equivalents and restricted cash
    		                     -303,000,000 682,000,000    -47,000,000 210,000,000 20,000,000 -73,000,000 30,000,000 -152,000,000 177,000,000 -90,000,000 46,000,000                                               
      cash and cash equivalents and restricted cash at beginning of period
    		                     0 362,000,000 0 0 0 586,000,000 0 0 0 399,000,000 0 0 0 418,000,000                                               
      cash and cash equivalents and restricted cash at end of period
    		                     -303,000,000 1,044,000,000 29,000,000 -30,000,000 -176,000,000 539,000,000 210,000,000 20,000,000 -73,000,000 429,000,000 -152,000,000 177,000,000 -90,000,000 464,000,000                                               
      repayments of debt obligations
    		                      -671,000,000 0 0                                                         
      proceeds from utilization of credit commitment
    		                      799,000,000             20,000,000 45,000,000 508,000,000 325,000,000 235,000,000 31,000,000 100,000,000                                        
      proceeds from issuances of long-term debt, net of issuance costs
    		                      644,000,000 0 0                                                         
      proceeds of customer funds
    		                          36,000,000                                                       
      proceeds from sale of investment security
    		                       0                                                          
      acquisition of business, net of cash and cash equivalents acquired
    		                        0 0 -193,000,000                                                       
      proceeds received from employee stock activity
    		                        1,000,000   7,000,000 0   21,000,000 2,000,000 29,000,000 1,000,000 12,000,000 14,000,000 27,000,000 1,000,000 2,000,000 11,000,000 6,000,000 7,000,000                                       
      net decrease in cash and cash equivalents and restricted cash
    		                        -30,000,000                                                         
      repayments of long-term debt
    		                          -515,000,000 0 0 0 -115,000,000 -25,000,000 -13,000,000                                                 
      proceeds from long-term debt issuances
    		                          15,000,000                                                       
      asset impairment charge
    		                                                  12,000,000                               
      acquisition of businesses, net of cash and cash equivalents acquired and other investment activities
    		                                                                                 
      proceeds from long-term debt issuances, net of debt issuance costs
    		                                                                                 
      net assets held for sale
    		                              11,000,000 -1,000,000                                                  
      purchases of trading securities
    		                            -62,000,000 -162,000,000 -70,000,000 -75,000,000 -57,000,000 -141,000,000 -93,000,000 -67,000,000 -131,000,000 -101,000,000 -144,000,000 -75,000,000 -130,000,000 -60,000,000 -96,000,000  -113,000,000 -75,000,000 -112,000,000 -125,000,000 -12,000,000 -146,000,000 -18,000,000 -104,000,000 -81,000,000 -234,000,000 -114,000,000 -49,000,000 -19,000,000 -50,000,000 -119,000,000 -300,000,000 -96,000,000 -107,000,000 -104,000,000                   
      proceeds from sales and redemptions of trading securities
    		                            160,000,000 64,000,000 75,000,000 60,000,000 133,000,000 81,000,000 120,000,000 64,000,000 134,000,000 100,000,000 94,000,000 119,000,000 88,000,000 29,000,000 93,000,000  106,000,000 132,000,000 118,000,000 63,000,000 61,000,000 151,000,000 97,000,000 115,000,000 88,000,000 198,000,000 100,000,000 134,000,000 38,000,000 15,000,000 163,000,000 237,000,000 102,000,000 108,000,000 95,000,000                   
      purchases of available-for-sale investment securities
    		                            0 -15,000,000 -3,000,000 -14,000,000 0 -7,000,000 -5,000,000     1,000,000 -15,000,000 -12,000,000                                        
      proceeds from maturities of available-for-sale investment securities
    		                            13,000,000 13,000,000 6,000,000 0 24,000,000 0 6,000,000 0 12,000,000 0 7,000,000                                           
      other investment activities
    		                            0   30,000,000 -31,000,000   4,000,000 0 0 -10,000,000                                           
      proceeds from utilization of credit commitment, net of debt issuance costs
    		                               140,000,000 0                                                 
      proceeds from issuances of senior unsecured notes, net of debt issuance costs
    		                               0                                                  
      cash paid for repurchase of common stock
    		                            -54,000,000 -241,000,000 -99,000,000 -28,000,000 -19,000,000 0 -156,000,000 0 -55,000,000 -16,000,000 -29,000,000 -255,000,000 -25,000,000 -30,000,000   0 0 -10,000,000 -50,000,000 -50,000,000 -125,000,000 -50,000,000     -497,000,000 -100,000,000                         
      cash dividends paid
    		                            -72,000,000 -73,000,000 -63,000,000                                                   
      gain on divestiture of businesses, net of disposal costs
    		                                                                                 
      capital contribution in equity method investment
    		                                       0 0 -30,000,000                                        
      proceeds from commercial paper
    		                               326,000,000 -340,000,000                                                 
      proceeds from issuance of term loan facility
    		                                      399,000,000                                           
      cash dividends
    		                               -63,000,000 -64,000,000 -63,000,000 -53,000,000 -53,000,000 -53,000,000 -53,000,000 -41,000,000 -40,000,000 -43,000,000 -25,000,000 -22,000,000  -22,000,000 -22,000,000 -21,000,000 -22,000,000 -21,000,000                                 
      proceeds (disbursements) of customer funds
    		                                 -61,000,000 63,000,000                                               
      proceeds from issuances of senior unsecured notes and term loan facility
    		                                   0 0                                             
      payments of debt obligations
    		                                   -38,000,000 -85,000,000 -478,000,000 -555,000,000 -85,000,000 -66,000,000 -25,000,000 -146,000,000  -168,000,000 -12,000,000 -11,000,000 -11,000,000 -12,000,000 -11,000,000 -111,000,000 -378,000,000 -450,000,000 -85,000,000 -35,000,000 -405,000,000 -70,000,000 -41,000,000 -1,700,000,000 1,000,000 -113,000,000 -148,000,000 -80,000,000 -37,500,000 -37,500,000 0 -352,918,000 0 -1,055,482,000 -2,671,000 -2,670,000 -252,668,000 -18,305,000         
      excess tax benefits related to share-based payments
    		                                   -16,000,000 -5,000,000 -35,000,000 2,000,000 -21,000,000 3,000,000 2,000,000                                        
      non-cash merger and strategic initiatives
    		                                          18,000,000                                       
      asset impairment charges
    		                                                0                                 
      non-cash investing activities:
    		                                                                                 
      cost method investment
    		                                          75,000,000                                       
      effect of exchange rate changes on cash and cash equivalents
    		                                    0 -4,000,000 5,000,000    2,000,000     4,000,000 8,000,000 -9,000,000 7,000,000 0 -12,000,000 1,000,000 4,000,000 0 13,000,000 -11,000,000 -8,000,000 -3,000,000 17,000,000 15,000,000 -2,000,000 -30,429,000                  
      net decrease in cash and cash equivalents
    		                                       -34,000,000 -4,000,000 -99,000,000  125,000,000 -79,000,000                                     
      cash and cash equivalents at beginning of period
    		                                    0 0 301,000,000 0 0 427,000,000 398,000,000  0 0 497,000,000        315,000,000 0 0 0 594,000,000 0 0 0 374,000,000 0 0 0 1,325,314,000   0 321,995,000  0 0 165,237,000  0 0 58,186,000  0 
      cash and cash equivalents at end of period
    		                                    -87,000,000 13,000,000 331,000,000 -34,000,000 -4,000,000 328,000,000 384,000,000  -79,000,000 -212,000,000 591,000,000        439,000,000 -21,000,000 -190,000,000 -9,000,000 535,000,000 283,000,000 -108,000,000 86,000,000 333,000,000 -172,140,000 -2,099,000 3,979,000 736,020,000   81,749,000 493,249,000  -48,272,000 113,912,000 374,905,000  -15,522,000 220,345,000 83,941,000  -174,399,000 
      net increase in cash and cash equivalents
    		                                     13,000,000 30,000,000    -14,000,000    94,000,000 59,000,000 -53,000,000 -34,000,000 19,000,000 -37,000,000 -35,000,000                             
      net change in operating assets and liabilities, net of effects of acquisition:
    		                                                                                 
      proceeds from sale of available-for-sale investment securities
    		                                       26,000,000 0 3,000,000                                        
      excess tax benefits related to share-based compensation
    		                                          3,000,000  2,000,000 -15,000,000 2,000,000   0 -1,000,000 -4,000,000 0 -3,000,000 -3,000,000 -1,000,000 1,000,000 -1,000,000 -1,000,000 0 -1,000,000 -2,000,000 -1,000,000                   
      proceeds from sales of available-for-sale investment securities
    		                                                                                 
      purchase of equity and cost method investments
    		                                            0                                     
      acquisitions of businesses
    		                                                                                 
      proceeds from debt obligations
    		                                          25,000,000                             150,000,000 0         
      acquisition of espeed contingent future issuance of nasdaq common stock
    		                                                                                 
      benefit from bad debts
    		                                          4,000,000  4,000,000 0 1,000,000 1,000,000 1,000,000 2,000,000 2,000,000 1,000,000 2,000,000 0 1,000,000 1,000,000 2,000,000 1,000,000 1,000,000 -1,000,000 -1,000,000 1,000,000 2,000,000 6,840,000 -2,575,000 -1,113,000 966,000 -434,000 162,000 -1,360,000 3,490,000 724,000 -2,152,000 1,843,000 49,000 3,039,000 133,000 -744,000 570,000 -247,000 772,000 
      other non-cash items included in net income
    		                                               7,000,000 -4,000,000 4,000,000 1,000,000 -7,000,000    8,000,000    -4,000,000   4,000,000 2,458,000 1,559,000 3,525,000 -2,695,000 154,000 -5,007,000 977,000 1,726,000 -1,268,000 294,000 710,000 203,000 -306,000 -6,784,000 8,867,000 766,000 4,643,000 -1,424,000 
      net cash provided by:
    		                                                                                 
      operating activities
    		                                                                                 
      investing activities
    		                                                                                 
      financing activities
    		                                                                                 
      cash and cash equivalents at the beginning of period
    		                                                0 0 506,000,000  0                             
      cash and cash equivalents at the end of period
    		                                                -53,000,000 -34,000,000 525,000,000  -35,000,000                             
      loss on divestiture of business
    		                                                                                 
      income from unconsolidated investees
    		                                                               157,000 163,000                 
      amortization of debt issuance costs
    		                                            1,000,000 0 1,000,000 1,000,000 1,000,000 0 1,000,000 1,000,000 1,000,000 2,000,000 2,000,000                           
      accretion of debt discounts
    		                                            1,000,000 1,000,000 1,000,000 1,000,000 2,000,000 0 1,000,000 1,000,000 4,000,000 4,000,000 4,000,000                           
      acquisitions of businesses, net of cash and cash equivalents acquired
    		                                            0   -15,000,000 -40,000,000                -751,035,000 -25,482,000 -1,963,562,000    1,243,000 0 -15,899,000 0 -38,060,000       
      proceeds from debt obligations, net of debt issuance costs
    		                                            70,000,000       250,000,000    734,000,000 -1,000,000 -2,000,000 1,678,000,000     -4,019,000 948,799,000 -1,220,000 1,478,188,000               
      issuances of common stock, net of treasury stock purchases
    		                                            2,000,000 10,000,000 5,000,000   1,000,000 1,000,000 1,000,000 1,000,000 3,000,000 5,000,000 1,000,000 1,000,000 3,000,000 1,000,000 1,000,000 0 6,000,000 1,000,000 2,132,000 2,887,000 1,806,000 816,000 6,270,000 4,810,000 3,560,000 2,178,000 5,145,000 1,742,000 628,000 19,611,000       
      acquisition of espeed contingent future issuance of nasdaq omx common stock
    		                                            0                                     
      investment in lch clearnet group limited
    		                                                                                 
      asset retirements and impairment charges
    		                                             0 10,000,000             2,000,000                      
      adjustments to reconcile net income to cash from operating activities:
    		                                                                                 
      loss on divestiture of businesses
    		                                                       0 0                         
      charges related to debt extinguishment and refinancing
    		                                                                                 
      net change in operating assets and liabilities, net of effects of acquisitions and divestitures:
    		                                                                                 
      proceeds from sales of equity method investments
    		                                                       0                          
      proceeds from contributions of noncontrolling interests
    		                                                       2,000,000    0 0                     
      investment in lch.clearnet group limited
    		                                                                                 
      loss on sale of business
    		                                                                                 
      charges related to debt refinancing
    		                                                       0 0 0 37,000,000                       
      loss on asset retirements
    		                                                    6,000,000                             
      supplemental disclosures:
    		                                                                                 
      supplemental disclosures
    		                                                                                 
      gain on the early extinguishment of debt obligations
    		                                                                                 
      loss on sale of investment security
    		                                                           0 0                     
      gain on sales of businesses
    		                                                                                 
      debt conversion expense
    		                                                           0                      
      purchase of equity method investment
    		                                                                                 
      proceeds from sales and redemptions of available-for-sale investment securities
    		                                                                                 
      acquisitions of businesses, net of cash acquired
    		                                                                                 
      dispositions of businesses, net of cash disposed
    		                                                                                 
      purchases of noncontrolling interests
    		                                                       0 0 0 -2,000,000                       
      cash inducement payment
    		                                                           0                      
      proceeds from sale of equity method investment
    		                                                           0 0                     
      acquisitions of businesses, net of cash and cash equivalents acquired and purchase accounting adjustments
    		                                                    0   -114,000,000 -72,000,000   14,000,000 -1,000,000 -13,000,000 -6,000,000                   
      cash flows from operating activities
    		                                                                                 
      deferred taxes
    		                                                      -11,000,000 -30,000,000 0 4,000,000 -9,000,000 -13,000,000 38,000,000 -16,000,000 -19,000,000 -41,387,000 -23,039,000 -8,850,000 -29,869,000 4,471,000 12,670,000 -1,700,000 -31,023,000 16,701,000 -1,946,000 1,477,000 -2,828,000 -362,000 5,559,000 -1,076,000 -652,000 7,408,000 13,502,000 
      asset retirements
    		                                                        2,000,000 0 3,000,000                       
      other current liabilities
    		                                                      28,000,000 -49,000,000                          
      cash from operating activities
    		                                                      171,000,000 183,000,000 34,000,000 239,000,000 -16,000,000 354,000,000 4,000,000 141,000,000 83,000,000 241,277,000 -106,072,000 56,408,000 216,112,000 56,246,000 -63,307,000 102,301,000 77,996,000 54,407,000 59,382,000 33,570,000 53,716,000 17,500,000 8,402,000 8,796,000 86,205,000 -2,399,000 16,029,000 
      cash flows from investing activities
    		                                                                                 
      cash from investing activities
    		                                                      -24,000,000 -39,000,000 -65,000,000 -47,000,000 33,000,000 -64,000,000 -8,000,000 63,000,000 -44,000,000 -366,125,000 -795,018,000 -53,790,000 -1,933,737,000 -2,682,000 1,792,819,000 -23,958,000 91,699,000 -79,684,000 -92,307,000 -1,021,911,000 -80,481,000 -881,756,000 -41,339,000 29,538,000 -59,826,000   
      cash flows from financing activities
    		                                                                                 
      cash from financing activities
    		                                                      -27,000,000 -165,000,000 -172,000,000 -190,000,000 -68,000,000 -4,000,000 -121,000,000 -133,000,000 -78,000,000 -16,863,000 916,045,000 1,361,000 1,128,331,000 13,088,000 -1,045,848,000 3,406,000 1,559,000 -93,273,000 -15,347,000 1,102,253,000 236,433,000 740,729,000 17,415,000 182,011,000 -624,000   
      increase in cash and cash equivalents
    		                                                      124,000,000         -172,140,000 -2,099,000 3,979,000 -589,294,000 66,652,000 683,664,000 81,749,000 171,254,000 -118,550,000 -48,272,000 113,912,000 209,668,000 -123,527,000 -15,522,000 220,345,000 25,755,000   
      loss on foreign currency contracts
    		                                                                                 
      accretion of 2.50% convertible senior notes
    		                                                       3,000,000 4,000,000 3,000,000 4,000,000 3,000,000                      
      purchases of foreign currency contracts
    		                                                               0 0 0 -12,500,000               
      settlement of foreign currency contracts
    		                                                               0 0 0 66,515,000               
      dispositions of businesses, net of cash and cash equivalents disposed
    		                                                                                 
      net proceeds from exercise of warrants
    		                                                                                 
      proceeds from sale of available-for-sale investment
    		                                                                                 
      decrease in cash and cash equivalents
    		                                                          -59,000,000    -41,000,000                   
      other accrued liabilities
    		                                                         -11,000,000 17,000,000 36,000,000 -27,000,000 -27,000,000 -19,000,000 -8,377,000 -18,764,000 -22,971,000 41,105,000 -51,260,000 35,301,000 -12,229,000 9,942,000 2,703,000 16,075,000 -3,131,000 -10,630,000 -5,391,000 4,598,000 -6,613,000 3,293,000   
      proceeds from sales of property and equipment
    		                                                                       27,000 30,243,000 64,000 234,000 42,000 24,000 17,899,000 75,000 11,052,000 0 
      proceeds from contribution of noncontrolling interests
    		                                                                                 
      net income attributable to noncontrolling interests
    		                                                          1,000,000  1,000,000                     
      net income attributable to nasdaq omx
    		                                                          61,000,000 43,000,000 60,000,000 69,000,000 94,000,000                   
      purchases of available-for-sale investments
    		                                                              -13,000,000     0       -262,425,000 -155,100,000 -171,483,000 -187,739,000 -77,325,000   
      cash paid for share buyback
    		                                                          -46,000,000                       
      net (income) loss attributable to noncontrolling interests
    		                                                                                 
      (gain) loss on the early extinguishment and refinancing of debt obligations
    		                                                                                 
      (income) income from unconsolidated investees
    		                                                           87,000,000 0 18,000,000 2,000,000                   
      (gain) loss on foreign currency contracts
    		                                                               47,408,000 50,688,000 -4,883,000 -35,254,000               
      clearing contract charge
    		                                                                   0 0 0 10,620,000           
      strategic initiative costs
    		                                                                   0 0 1,584,000 24,927,000           
      gain on sale of strategic initiative
    		                                                                   0              
      purchases of equity method investment
    		                                                                                 
      proceeds from maturities of available-for-sale investments
    		                                                                   4,000,000 0 17,200,000 30,710,000     0 13,100,000     
      proceeds from sales and redemptions of available-for-sale investments
    		                                                               565,000                  
      conversion of 3.75% convertible notes
    		                                                                                 
      gain on early extinguishment of debt
    		                                                            0                     
      proceeds from sale of available-for-sale investments
    		                                                                                 
      gain on foreign currency contracts
    		                                                                                 
      gain on the early extinguishment of debt
    		                                                              -4,000,000                   
      loss on the early extinguishment and refinancing of debt obligations
    		                                                                   1,125,000    1,148,000 0         
      payables to related parties
    		                                                                       664,000 341,000 541,000 -9,609,000 7,687,000 1,999,000 -2,074,000 972,000   
      purchases of trading investment securities
    		                                                               -92,531,000 -46,033,000 -15,763,000 -10,261,000               
      net proceeds from equity offerings
    		                                                                       -301,000 0         
      series c cumulative preferred stock, net of treasury stock purchases
    		                                                                                 
      income tax benefit related to share-based compensation
    		                                                                -1,859,000 -775,000 -2,245,000 -6,818,000 -4,824,000 -2,517,000 -2,051,000 -4,551,000 -1,216,000 -34,263,000 15,272,000       
      impairment of intangible assets
    		                                                                                 
      foreign currency translation adjustment
    		                                                                -31,708,000 -2,059,000 11,595,000               
      other
    		                                                                    221,000 204,000 -77,000           
      proceeds from redemptions of available-for-sale investments
    		                                                                       128,475,000 60,800,000 196,725,000 195,670,000 201,745,000 147,800,000 195,055,000 14,600,000 34,896,000 63,521,000 
      gain from unconsolidated investees
    		                                                                  -26,336,000               
      income tax payable
    		                                                                  73,391,000 -63,990,000              
      cash paid for
    		                                                                                 
      gain on foreign currency option contracts
    		                                                                   -18,202,000              
      loss on the write-down of assets held-for-sale
    		                                                                                 
      proceeds from maturities of held-to-maturity investments
    		                                                                           35,421,000 9,500,000 -2,000,000 5,000,000 0 7,100,000 
      proceeds from redemptions of held-to-maturity investments
    		                                                                                 
      purchases of held-to-maturity investments
    		                                                                           -19,557,000 -9,468,000     
      purchase of foreign currency option contracts
    		                                                                                 
      settlement of foreign currency option contracts
    		                                                                   0 4,037,000 0 63,900,000           
      acquisitions of businesses, net of cash and cash equivalents acquired, and purchase accounting adjustments
    		                                                                                 
      series c cumulative preferred stock redemptions and dividends
    		                                                                       0 0         
      cash and cash equivalents at beginning of year
    		                                                                                 
      cash and cash equivalents at end of year
    		                                                                                 
      reconciliation of net income to cash from operating activities
    		                                                                                 
      non-cash items included in net income:
    		                                                                                 
      purchases of foreign currency option contracts
    		                                                                    0             
      loss on foreign currency option contracts
    		                                                                     1,668,000 7,841,000           
      purchases of available-for-sale investments, net of capital return from the lse in 2006
    		                                                                                 
      net income from discontinued operations
    		                                                                                 
      net income from continuing operations
    		                                                                               -2,127,000 -5,485,000 
      obligation under capital leases
    		                                                                                 
      purchases of available-for-sale investments, net of capital return from the lse
    		                                                                       -176,091,000 -171,180,000         
      supplemental disclosure non-cash flow activity
    		                                                                                 
      exchange of preferred securities
    		                                                                                 
      loss on write down of assets held-for-sale
    		                                                                        518,000         
      accounts receivable
    		                                                                        9,927,000         
      accrued pension costs
    		                                                                        -43,000 -702,000 -498,000 1,144,000 -4,015,000 1,647,000 1,712,000   
      proceeds from the maturities of available-for-sale investments
    		                                                                        10,000,000 4,000,000 24,750,000       
      contribution from minority interest holder
    		                                                                                 
      depreciation and amortization expense
    		                                                                                 
      share-based compensation expense
    		                                                                         2,688,000 2,756,000       
      foreign currency gain related to investment in the lse
    		                                                                                 
      receivables from related parties
    		                                                                         -41,000 -31,000 1,000 0 0 3,210,000 -2,996,000 397,000 
      cash flow from investing activities
    		                                                                                 
      cash flow from financing activities
    		                                                                                 
      net proceeds from the february 2006 equity offering
    		                                                                          308,484,000       
      series c cumulative preferred stock redemption and dividends
    		                                                                          -105,059,000       
      payment of debt obligations
    		                                                                          -1,875,000       
      contribution to nasd
    		                                                                           -1,524,000 -17,000 -49,000 -22,000   
      non-cash items included in net income
    		                                                                                 
      amortization of restricted stock awards
    		                                                                           46,000 532,000 463,000 317,000 132,000 182,000 
      charge on the restructuring of the 240.0 million convertible notes
    		                                                                                 
      elimination of non-core product lines and initiatives
    		                                                                                 
      cash from continuing operations
    		                                                                               -11,957,000 16,029,000 
      cash from discontinued operations
    		                                                                                 
      capital contribution to nasdaq liffe joint venture
    		                                                                                 
      proceeds from the issuances of debt obligations
    		                                                                                 
      redemption of senior notes
    		                                                                                 
      payments for treasury stock purchases
    		                                                                           -31,000 0 0 -42,000   
      issuances of common stock
    		                                                                           17,999,000 18,148,000 16,339,000 444,000 1,893,000 0 
      partial redemption of series c cumulative preferred stock
    		                                                                           -1,000 0     
      preferred stock dividends
    		                                                                              -1,004,000   
      minority interest
    		                                                                                 
      charge on the restructuring of the 240 million convertible notes
    		                                                                                 
      net change in:
    		                                                                                 
      purchase of remaining 50.0% interest in nasdaq insurance agency, net of cash acquired
    		                                                                            0     
      funding for the acquisition of carpenter moore
    		                                                                                 
      acquisition of toll
    		                                                                                 
      proceeds from the issuance of the 205 million convertible notes
    		                                                                            0     
      series c cumulative preferred stock dividends
    		                                                                            -716,000     
      supplemental disclosure of non-cash flow activities
    		                                                                                 
      income taxes, net of refunds
    		                                                                                 
      other current assets
    		                                                                             -6,434,000 -6,359,000   
      purchase of remaining 50.0% interest in nia, net of cash acquired
    		                                                                              3,063,000   
      loss on assets held-for-sale
    		                                                                                 
      income from equity method affiliates
    		                                                                                 
      nasdaq japan impairment loss
    		                                                                                 
      acquisition of toll associates llc
    		                                                                                 
      increase in long-term debt
    		                                                                                 
      contribution (to) from nasd
    		                                                                                 
      payments for treasury stock purchases with issuance of preferred stock
    		                                                                                 
      elimination of non-core product lines, initiatives and severance
    		                                                                                 
      decrease in long term debt
    		                                                                                 
      contribution to the nasd
    		                                                                                 
      income tax refund, net of taxes paid
    		                                                                                -14,499,000 
      net (loss) from discontinued operations
    		                                                                                 
      amortization of restricted stock awards and other stock-based compensation
    		                                                                                 
      minority interests
    		                                                                                 
      proceeds from phase i and phase ii private placement offering
    		                                                                                 
      purchase of minority interests in nasdaq europe planning company ltd.
    		                                                                                 
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.