1120193--2/28/2007--NASDAQ_STOCK_MARKET

related topics

{stock, price, share}

{stock, price, operating}

{regulation, change, law}

{acquisition, growth, future}

{debt, indebtedness, cash}

{system, service, information}

{product, market, service}

{financial, litigation, operation}

{control, financial, internal}

{investment, property, distribution}

{personnel, key, retain}

{property, intellectual, protect}

{provision, law, control}

{regulation, government, change}

{competitive, industry, competition}

Our high leverage limits our financial flexibility. Future acquisitions, partnerships and joint ventures may require significant resources and/or result in significant unanticipated losses, costs or liabilities. We must continue to invest in our operations to integrate prior transactions and to maintain and grow our business, and we may need additional funds to do so. We face significant competition in our business. A decrease in trading volume will decrease our trading revenues. Declines in the initial public offering market have an adverse effect on our revenues. Losses in listings could cause a reduction in revenues. We may experience fluctuations in our operating results. We must control our costs to remain profitable. Damage to our reputation could have a material adverse effect on our businesses. The value of our LSE investment could decline due to fluctuations in LSE s stock price, the foreign currency exchange rate and payment of dividends. LSE is subject to certain risks. We may not be able keep up with rapid technological and other competitive changes affecting our industry. System limitations, failures or security breaches could harm our business. The adoption and implementation of Regulation NMS by the SEC could adversely affect our business. Regulatory changes and changes in market structure could have a material adverse effect on our business. We are subject to extensive regulation that may harm our ability to compete with less regulated entities. We have self-regulatory organization obligations and also operate a for-profit business, and these two roles may create conflicts of interest. Failure to attract and retain key personnel may adversely affect our ability to conduct business. We are subject to risks relating to litigation and potential securities laws liability. Failure to protect our intellectual property rights could harm our brand-building efforts and ability to compete effectively. We are a holding company that depends on cash flow from our subsidiaries to meet our obligations. Risks Relating to an Investment in Our Common Stock Volatility in our stock price could adversely affect our stockholders. The market price of our common stock could be negatively affected by sales of substantial amounts of our common stock in the public markets. Provisions of our certificate of incorporation and approved exchange rules, including provisions included to address SEC concerns, and Delaware law could delay or prevent a change in control of us and entrench current management.

Full 10-K form ▸

1120193--2/28/2007--NASDAQ_STOCK_MARKET_INC