NASDAQ OMX not only operates the NASDAQ stock market and seven European stock exchanges in theNordic and Baltic areas, but the NASDAQ OMX Group technology supports the operations of over 60exchanges, clearing organizations, and central securities depositories in more than 50 countries. TheNASDAQ OMX Group (NASDAQ: NDAQ), the world's largest exchange company, represents a value of approximately $14.4 trillion. [Exhibit B] The addition of INVESTOR AB, with approximate ownership of 120 companies, will further concentrate economic power in the hands of the Sweden's Wallenbergfamily which is already over represented on the NASDAQ OMX board. [Exhibits A-D]This expansion is not in the public interest, but in the interest of a single family.
The Wallenberg’s core
companies, under INVESTOR AB, have been involved in violations of civil and criminal law [Exhibit A] aswell as provided the SEC with incomplete information, about their holdings and board members, tounderstate their control of the NASDAQ. [Exhibit A-C] Further, the current board membership alreadyviolates NASDAQ rules in that the independent non-industry and public interest are under-represented.Reasons for Opposition to Expansion of NASDAQ Board and the Need for SEC Investigation1. The Board Expansion Fails to Protect the Public Interest and Further Concentrates Control of theNASDAQ in the Wallenberg FamilyThe NASDAQ OMX Group has had 15 board members since April 1, 1996, and performed their functionswithout the need for expanding the size of the board. Prior to that date, there were 10 board members.According to the Financial Industry Regulatory Authority press statement of April 1, 1995, the purposefor expanding the NASDAQ board in 1996 was:
“. . . to
increase public participation in the governance of Nasdaq, the Nasdaq Board is expandingthe number of non-
[Exhibit B ]The request for expansion of NASDAQ OMX Group will not benefit the public interest, but only benefitthe interest of the Wallenberg family through Investor AB which they control. The public interest isalready undermined because the SEC has failed to make sure that at least one third (5) board members
industry” representatives who would protect the public interest. *Exhibit B+