Continued Diversification of Execution Business

2004

2007

RESULTING EXPANSION

RESULTING EXPANSION

STRATEGIC RATIONALE

STRATEGIC RATIONALE

ACQUISITION*

ACQUISITION*

Leveraging its core business and capabilities, NASDAQ continues to expand its offerings and

geographic reach

Access to routing technology and connectivity

to new, fast growing trading firms

Solidify market position in NASDAQ-listed

trading

Execute on NYSE-listed trading strategy

Access to best-in class technology platform

Further solidify market position in all U.S. equity

trading

Largest provider of liquidity on the NYSE floor

Significant market presence in Europe

Ability to leverage technology innovations for

future product expansion

Access to 60 international exchange

relationships

Ability to have a 2nd

protected quote

Enter the U.S. cash equity clearing business

Allows listings to use 1,2 and 3 letter tickers

enhancing ability to lure listings to the NASDAQ

Immediate presence in options trading

Further enhance NASDAQ’s growth profile

Ability to leverage clearing and futures licenses

Broker/dealer model

Single book migration -

Largest electronic

liquidity pool for U.S. equities

Fastest, most scalable and efficient technology

platform

European cash equities, derivatives and

commodities trading

Leading global provider of exchange technology

Clearing services

Second matching engine

U.S. cash equities clearing

U.S. equity options

U.S. index options

U.S. cash equities clearing

U.S. futures

* Acquisitions of OMX, The Boston Stock Exchange, and The Philadelphia Stock Exchange are pending necessary regulatory and shareholder approval

Filed by The Nasdaq

Stock Market, Inc.

pursuant to Rule 425 under the Securities Act

of 1933, as amended, and deemed filed

pursuant to Rule 14a-12 under the Securities

Exchange Act of 1934, as amended.

Subject Company: OMX AB

(Commission File No. 132-02618)

The following are selected slides from an investor presentation about The Nasdaq

Stock

Market, Inc. acquisition of the Philadelphia Stock Exchange.

Forward Looking Statement

Forward-looking statements in this Investor Presentation are subject to known and unknown risks, uncertainties and other factors which may cause

our

actual

results,

performance

or

achievements

to

be

materially

different

from

any

future

results,

performance,

or

achievements

expressed

or

implied

by such forward-looking statements. These forward-looking statements were based on various factors and were derived utilizing numerous

assumptions.

NASDAQ

cautions

readers

that

any

forward-looking

information

is

not

a

guarantee

of

future

performance

and

that

actual

results

could

differ materially from those contained in the forward-looking information.

Factors that could cause actual results to differ materially from those contemplated by the forward-looking statements include, among others, the

following factors: (i) the issuer's operating results may be lower than expected; (ii) loss of significant trading volume or listed companies; (iii) our ability

to

implement

our

strategic

initiatives

and

any

consequences

from

our

pursuit

of

our

corporate

strategy,

including

the

proposed

acquisitions

of

the

Philadelphia

Stock

Exchange

and

the

Boston

Stock

Exchange,

the

proposed

transactions

with

Borse

Dubai

and

OMX

AB

and

the

proposed

business

combination with OMX AB; (iv) competition, economic, political and market conditions and fluctuations, including interest rate risk; (v) government and

industry regulation; or (vi) adverse changes that may occur in the securities markets generally and other factors detailed in NASDAQ’s filings with the

U.S. Securities Exchange Commission, including its annual report

on Form 10-K for the fiscal year ending December

31, 2006 which is available on

NASDAQ’s website at http://ir.nasdaq.com

and the SEC’s

website at www.sec.gov.  NASDAQ undertakes no obligation to publicly update any

forward-looking statement, whether as a result of new information, future events or otherwise.

Additional Disclaimer

While

NASDAQ’s

offer

for

OMX

is

being

made

to

all

holders

of

OMX

shares,

this

document

does

not

constitute

an

offer

to

purchase,

sell

or

exchange

or

the

solicitation

of

an

offer

to

purchase,

sell

or

exchange

any

securities

of

OMX

or

an

offer

to

purchase,

sell

or

exchange

or

the

solicitation

of

an

offer

to

purchase,

sell

or

exchange

any

securities

of

NASDAQ

in

any

jurisdiction

in

which

the

making

of

the

offer

or

the

acceptance

of

any

tender

of

shares

therein would not be made in compliance with the laws of such jurisdiction. In particular, NASDAQ’s offer is not being made, directly or indirectly, in or

into Australia, Canada, Japan or South Africa. While NASDAQ reserves the right to make the offer in or into the United Kingdom or any other

jurisdiction pursuant to applicable exceptions or following appropriate filings and prospectus or equivalent document publication by NASDAQ in such

jurisdictions, pending such filings or publications and in the absence of any such exception NASDAQ’s offer is not made in any such jurisdiction.

On August

7, 2007, NASDAQ filed with the SEC a Registration Statement on Form S-4 that includes a preliminary proxy statement of NASDAQ that

also

constitutes

a

prospectus

of

NASDAQ.

On

October

12,

2007

and

November

2,

2007,

NASDAQ

filed

with

the

SEC

a

preliminary

proxy

statement

on

Schedule

14A

relating

to

the

proposed

transactions

with

Borse

Dubai

and

OMX.

Investors

and

security

holders

are

urged

to

read

the

preliminary

proxy

statements,

prospectus

and

the

definitive

proxy

statement

when

it

becomes

available,

as

well

as

any

amendments

and

other applicable documents regarding the proposed business combination because those documents contain, or will contain, important

information.

You may obtain a free copy of those documents and other related

documents filed by NASDAQ with the SEC at the SEC’s

website at

www.sec.gov. The preliminary proxy statements and prospectus and the other documents may also be obtained for free by accessing NASDAQ’s

website at http://www.nasdaq.com.

NASDAQ and its directors and executive officers and other members of management and employees may be deemed to be participants in the

solicitation of proxies from NASDAQ stockholders in respect of the transactions described in this communication. You can find information about

NASDAQ’s

executive

officers

and

directors

in

NASDAQ’s

definitive

proxy

statement

filed

with

the

SEC

on

April

20,

2007.

You

can

obtain

free

copies

of

these documents and of the preliminary proxy statements and prospectus from NASDAQ by accessing NASDAQ’s website at http://www.nasdaq.com.

Additional

information

regarding

the

interests

of

such

potential

participants

is

included

in

the

preliminary

proxy

statements

and

prospectus

and

may

be

included

in

the

other

relevant

documents

filed

with

the

SEC

when

they

become

available.