NASDAQ Launches New DataStore Product - NASDAQ Pre Improves Pre-trade Analysis And Helps Manage Trading Costs

The Nasdaq Stock Market, Inc. ("NASDAQ(r)") (Nasdaq:NDAQ) today announced the addition of a new product to the NASDAQ DataStore, an online collection of innovative data tools for institutional and individual investors. NASDAQ's Pre-Trade Market Impact Cost Estimator (NASDAQ Pre(sm)) improves pre-trade analysis and helps manage transaction costs.

NASDAQ Pre is the latest addition to the NASDAQ DataStore, whose debut in July 2007 marked the first time a U.S. stock exchange offered direct purchase of this breadth of data directly via the Web.

"As our newest data product, NASDAQ Pre offers market participants more certainty in trading performance by providing unsurpassed transparency into NASDAQ's order activity," said NASDAQ Executive Vice President Adena Friedman.

NASDAQ Pre facilitates pre-trade analysis by providing a reliable average cost estimate that is cents away from the inside. The estimate helps determine which order types and sizes will minimize the market impact cost of a transaction -- thus helping manage transaction costs. The estimate is associated with a particular order size and time of day.

NASDAQ Pre features ModelView data -- which provides full, historical order book information including hidden orders. Using ModelView information, NASDAQ Pre users can:

 * Determine how large the market impact will typically be for an order
   of a given size;
 * Decide how much market impact they can tolerate;
 * Choose an order size that will typically execute without exceeding
   that market impact; and
 * Compare post-trade results of market impact with the average market
   impact.

As part of the DataStore initiative, NASDAQ also supports full "plug-and-play" access to its premium market data products. This distribution allows market data vendors and market data distributors more efficient, easier, and less expensive deployments of new data products.

In addition to NASDAQ Pre, the DataStore offers the following innovative products that are designed to give investors unique market insight:

 * NASDAQ Net Order Imbalance Indicator (NOII) -- View NASDAQ crossing
   data to participate in the NASDAQ Opening Cross, Closing Cross, IPO
   Cross, and Halt Cross. Use the information to find liquidity and
   predict cross prices before they occur.

 * BookViewer -- Achieve better trade performance by viewing all the
   buy and sell orders for securities listed on NASDAQ, the New York
   Stock Exchange (NYSE) and the American Stock Exchange (Amex). Data
   can be aggregated by price level or by MPID.

 * Velocity & Forces -- Follow and act on changes in market direction,
   momentum and liquidity. NASDAQ Market Velocity & Forces can indicate
   levels of pre-trade interest and market activity in NASDAQ stocks
   as well as indicate the direction of market momentum.

 * Daily Share Volume -- Track market participants' trading activity
   in specific stocks and sectors. NASDAQ-listed and non-NASDAQ listed
   share volume is displayed on a T+1 basis, allowing you to make
   better educated routing and trading decisions.

For more information about the NASDAQ DataStore, visit www.data.nasdaq.com.

NASDAQ is the largest U.S. equities exchange. With approximately 3,200 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks as well as a leading liquidity pool for trading NYSE-listed stocks. For more information about NASDAQ, visit the NASDAQ Web site at www.nasdaq.com or the NASDAQ Newsroom at www.nasdaq.com/newsroom/.