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    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_ResaleAgreementsAtContractValue" xlink:label="ndaq_ResaleAgreementsAtContractValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_ResaleAgreementsAtContractValue" xlink:to="ndaq_ResaleAgreementsAtContractValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_ResaleAgreementsAtContractValue_lbl" xml:lang="en-US">Through our clearing operations in the resale markets with NASDSQ OMX Stockholm, we are the legal counterparty for each resale contract traded and thereby guarantee the fulfillment of each contract.  We only clear these transactions once a bilateral contract between members has been entered into whereby the two members have agreed on all terms in the transaction. The resale agreements are not used for financing purposes by NASDAQ OMX.  We record resale agreements at the gross amount of the contract value plus interest in the Consolidated Balance Sheets as a receivable pertaining to the purchasing party. Such receivables attributable to outstanding resale agreements have been netted to the extent that such a legal offset right exists and, at the same time, that it is our intention to settle these items. Collateral for resale agreements are not held by NASDAQ OMX Stockholm. All resale clearing activities are transacted under our clearing member agreements that give us the right, in the event of default, to liquidate collateral pledged between the clearing members and to offset receivables and payables with the same counterparty.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_ResaleAgreementsAtContractValue_lbl" xml:lang="en-US">Resale Agreements At Contract Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_ResaleAgreementsAtContractValue_lbl" xml:lang="en-US">Resale agreements, at contract value</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherAssetsCurrent" xlink:label="us-gaap_OtherAssetsCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssetsCurrent" xlink:to="us-gaap_OtherAssetsCurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherAssetsCurrent_lbl" xml:lang="en-US">Other current assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="us-gaap_AssetsCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_AssetsCurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsCurrent_lbl" xml:lang="en-US">Total current assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AssetsCurrent_lbl" xml:lang="en-US">Total current assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsNoncurrent" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsNoncurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedCashAndCashEquivalentsNoncurrent" xlink:to="us-gaap_RestrictedCashAndCashEquivalentsNoncurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsNoncurrent_lbl" xml:lang="en-US">Non-current restricted cash</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsNoncurrent_lbl" xml:lang="en-US">Restricted Cash and Investments, Noncurrent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsNoncurrent_lbl" xml:lang="en-US">Non-current restricted cash</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="us-gaap_PropertyPlantAndEquipmentNet" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentNet" xlink:to="us-gaap_PropertyPlantAndEquipmentNet_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US">PropertyPlantAndEquipmentNet</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US">Property, Plant and Equipment, Net, Ending Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US">Property, Plant and Equipment, Net, Beginning Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US">Property and equipment, net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US">Total property and equipment, net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US">Purchases of property and equipment</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxAssetsNetNoncurrent" xlink:label="us-gaap_DeferredTaxAssetsNetNoncurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsNetNoncurrent" xlink:to="us-gaap_DeferredTaxAssetsNetNoncurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxAssetsNetNoncurrent_lbl" xml:lang="en-US">Non-current deferred tax assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DeferredTaxAssetsNetNoncurrent_lbl" xml:lang="en-US">Deferred Tax Assets, Net, Noncurrent, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Goodwill" xlink:label="us-gaap_Goodwill" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Goodwill" xlink:to="us-gaap_Goodwill_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Goodwill_lbl" xml:lang="en-US">Goodwill</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_Goodwill_lbl" xml:lang="en-US">Balance at December 31, 2011</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_Goodwill_lbl" xml:lang="en-US">Balance at December 31, 2010</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_Goodwill_lbl" xml:lang="en-US">Balance at December 31, 2009</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Goodwill_lbl" xml:lang="en-US">Goodwill, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwill" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:to="us-gaap_IntangibleAssetsNetExcludingGoodwill_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwill_lbl" xml:lang="en-US">Intangible assets, net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwill_lbl" xml:lang="en-US">Total intangible assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwill_lbl" xml:lang="en-US">Intangible Assets, Net (Excluding Goodwill), Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwill_lbl" xml:lang="en-US">Total intangible assets, Net Assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherAssetsNoncurrent" xlink:label="us-gaap_OtherAssetsNoncurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssetsNoncurrent" xlink:to="us-gaap_OtherAssetsNoncurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherAssetsNoncurrent_lbl" xml:lang="en-US">Other assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OtherAssetsNoncurrent_lbl" xml:lang="en-US">Other Assets, Noncurrent, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OtherAssetsNoncurrent_lbl" xml:lang="en-US">Other non-current assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Assets_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Assets_lbl" xml:lang="en-US">Total assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Assets_lbl" xml:lang="en-US">Total assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesAbstract" xlink:label="us-gaap_LiabilitiesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAbstract" xlink:to="us-gaap_LiabilitiesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAbstract_lbl" xml:lang="en-US">Liabilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract" xlink:label="us-gaap_LiabilitiesCurrentAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="us-gaap_LiabilitiesCurrentAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesCurrentAbstract_lbl" xml:lang="en-US">Current liabilities:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xlink:to="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent_lbl" xml:lang="en-US">Accounts Payable and Accrued Liabilities, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent_lbl" xml:lang="en-US">Accounts Payable and Accrued Liabilities, Current, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent_lbl" xml:lang="en-US">Accounts payable and accrued expenses</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_Section31FeesPayable" xlink:label="ndaq_Section31FeesPayable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_Section31FeesPayable" xlink:to="ndaq_Section31FeesPayable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_Section31FeesPayable_lbl" xml:lang="en-US">We pay Section 31 fees to the SEC for supervision and regulation of securities markets. The amount due to the SEC is remitted semiannually and recorded as Section 31 fees payable to the SEC.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_Section31FeesPayable_lbl" xml:lang="en-US">Section 31 fees payable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ndaq_Section31FeesPayable_lbl" xml:lang="en-US">Section 31 fees payable to SEC</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EmployeeRelatedLiabilitiesCurrent" xlink:label="us-gaap_EmployeeRelatedLiabilitiesCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeRelatedLiabilitiesCurrent" xlink:to="us-gaap_EmployeeRelatedLiabilitiesCurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EmployeeRelatedLiabilitiesCurrent_lbl" xml:lang="en-US">Employee-related Liabilities, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_EmployeeRelatedLiabilitiesCurrent_lbl" xml:lang="en-US">Employee-related Liabilities, Current, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EmployeeRelatedLiabilitiesCurrent_lbl" xml:lang="en-US">Accrued personnel costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredRevenueCurrent" xlink:label="us-gaap_DeferredRevenueCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueCurrent" xlink:to="us-gaap_DeferredRevenueCurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredRevenueCurrent_lbl" xml:lang="en-US">Deferred Revenue, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DeferredRevenueCurrent_lbl" xml:lang="en-US">Deferred Revenue, Current, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DeferredRevenueCurrent_lbl" xml:lang="en-US">Deferred revenue</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherLiabilitiesCurrent" xlink:label="us-gaap_OtherLiabilitiesCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherLiabilitiesCurrent" xlink:to="us-gaap_OtherLiabilitiesCurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherLiabilitiesCurrent_lbl" xml:lang="en-US">Other Liabilities, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OtherLiabilitiesCurrent_lbl" xml:lang="en-US">Other Liabilities, Current, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OtherLiabilitiesCurrent_lbl" xml:lang="en-US">Other current liabilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxLiabilitiesCurrent" xlink:label="us-gaap_DeferredTaxLiabilitiesCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxLiabilitiesCurrent" xlink:to="us-gaap_DeferredTaxLiabilitiesCurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxLiabilitiesCurrent_lbl" xml:lang="en-US">Deferred Tax Liabilities Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredTaxLiabilitiesCurrent_lbl" xml:lang="en-US">Business Acquisition Current Deferred Tax Liability</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DeferredTaxLiabilitiesCurrent_lbl" xml:lang="en-US">Deferred tax liabilities</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_OpenClearingContractsCurrentLiabilitiesAbstract" xlink:label="ndaq_OpenClearingContractsCurrentLiabilitiesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_OpenClearingContractsCurrentLiabilitiesAbstract" xlink:to="ndaq_OpenClearingContractsCurrentLiabilitiesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_OpenClearingContractsCurrentLiabilitiesAbstract_lbl" xml:lang="en-US">Open Clearing Contracts Current Liabilities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_OpenClearingContractsCurrentLiabilitiesAbstract_lbl" xml:lang="en-US">Open Clearing Contracts Current Liabilities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ndaq_OpenClearingContractsCurrentLiabilitiesAbstract_lbl" xml:lang="en-US">Open clearing contracts:</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_DerivativePositionsAtFairValueLiabilitiesCurrent" xlink:label="ndaq_DerivativePositionsAtFairValueLiabilitiesCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_DerivativePositionsAtFairValueLiabilitiesCurrent" xlink:to="ndaq_DerivativePositionsAtFairValueLiabilitiesCurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_DerivativePositionsAtFairValueLiabilitiesCurrent_lbl" xml:lang="en-US">Through our clearing operations in the derivative markets with NASDAQ OMX Commodities and NASDAQ OMX Stockholm, we are the legal counterparty for each derivative position traded and thereby guarantee the fulfillment of each contract. We also act as the counterparty for certain trades on OTC derivative contracts. The derivatives are not used by NASDAQ OMX Commodities or NASDAQ OMX Stockholm for the purpose of trading on their own behalf. As the legal counterparty of each transaction, NASDAQ OMX Commodities and NASDAQ OMX Stockholm bear the counterparty risk between the purchaser and seller in the contract. The fair value of these derivative contracts with NASDAQ OMX Commodities and NASDAQ OMX Stockholm is reported gross in the Consolidated Balance Sheets as a receivable pertaining to the purchasing party and a payable pertaining to the selling party. Such receivables and payables attributable to outstanding derivative positions have been netted to the extent that such a legal offset right exists and, at the same time, that it is our intention to settle these items.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_DerivativePositionsAtFairValueLiabilitiesCurrent_lbl" xml:lang="en-US">Derivative Positions at Fair Value Liabilities Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ndaq_DerivativePositionsAtFairValueLiabilitiesCurrent_lbl" xml:lang="en-US">Derivative positions, at fair value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_DerivativePositionsAtFairValueLiabilitiesCurrent_lbl" xml:lang="en-US">Derivative positions, at fair value</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_RepurchaseAgreementsAtContractValue" xlink:label="ndaq_RepurchaseAgreementsAtContractValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_RepurchaseAgreementsAtContractValue" xlink:to="ndaq_RepurchaseAgreementsAtContractValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_RepurchaseAgreementsAtContractValue_lbl" xml:lang="en-US">Through our clearing operations in the resale markets with NASDSQ OMX Stockholm, we are the legal counterparty for each repurchase contract traded and thereby guarantee the fulfillment of each contract.  We only clear these transactions once a bilateral contract between members has been entered into whereby the two members have agreed on all terms in the transaction. The repurchase agreements are not used for financing purposes by NASDAQ OMX.  We record repurchase agreements at the gross amount of the contract value plus interest in the Consolidated Balance Sheets as a payable pertaining to the selling party. Such liabilities attributable to outstanding repurchase agreements have been netted to the extent that such a legal offset right exists and, at the same time, that it is our intention to settle these items. Collateral for repurchase agreements are not held by NASDAQ OMX Stockholm. All repurchase clearing activities are transacted under our clearing member agreements that give us the right, in the event of default, to liquidate collateral pledged between the clearing members and to offset receivables and payables with the same counterparty.</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="us-gaap_LiabilitiesCurrent" />
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxLiabilitiesNoncurrent" xlink:label="us-gaap_DeferredTaxLiabilitiesNoncurrent" />
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueNoncurrent" xlink:to="us-gaap_DeferredRevenueNoncurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredRevenueNoncurrent_lbl" xml:lang="en-US">Non-current deferred revenue</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherLiabilitiesNoncurrent" xlink:label="us-gaap_OtherLiabilitiesNoncurrent" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherLiabilitiesNoncurrent_lbl" xml:lang="en-US">Other Liabilities, Noncurrent</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OtherLiabilitiesNoncurrent_lbl" xml:lang="en-US">Other Liabilities, Noncurrent, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OtherLiabilitiesNoncurrent_lbl" xml:lang="en-US">Other liabilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_Liabilities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US">Total liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US">Total liabilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="us-gaap_CommitmentsAndContingencies" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingencies" xlink:to="us-gaap_CommitmentsAndContingencies_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingencies_lbl" xml:lang="en-US">Commitments and contingencies Equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommitmentsAndContingencies_lbl" xml:lang="en-US">Commitments and contingencies</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:to="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_lbl" />
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="us-gaap_StockholdersEquityAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US">NASDAQ OMX stockholders' equity:</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockValue" xlink:to="us-gaap_CommonStockValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US">Common stock, $0.01 par value, 300,000,000 shares authorized, shares issued: 213,370,086 at December 31, 2010 and 211,713,186 at December 31, 2009; shares outstanding: 175,782,683 at December 31, 2010 and 211,385,464 at December 31, 2009</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US">Common Stock, Value, Issued, Ending Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US">Common Stock, Value, Issued, Beginning Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US">Common stock, $0.01 par value, 300,000,000 shares authorized, shares issued: 212,993,586 at September 30, 2010 and 211,713,186 at December 31, 2009; shares outstanding: 197,826,542 at September 30, 2010 and 211,385,464 at December 31, 2009</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US">Common Stock, Value, Issued, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US">Common stock, $0.01 par value, 300,000,000 shares authorized, shares issued: 213,398,111 at December 31, 2011 and 213,370,086 at December 31, 2010; shares outstanding: 173,552,939 at December 31, 2011 and 175,782,683 at December 31, 2010</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="us-gaap_PreferredStockValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockValue" xlink:to="us-gaap_PreferredStockValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockValue_lbl" xml:lang="en-US">Preferred stock, 30,000,000 shares authorized, series A convertible preferred stock: shares issued: 1,600,000 at December 31, 2010 and December 31, 2009; shares outstanding: none at December 31, 2010 and 1,600,000 at December 31, 2009 (classified above at December 31, 2009 as temporary equity)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:label="us-gaap_PreferredStockValue_lbl" xml:lang="en-US">Preferred stock, 30,000,000 shares authorized, series A convertible preferred stock: shares issued: 1,600,000 at September 30, 2010 and December 31, 2009; shares outstanding: none at September 30, 2010 and 1,600,000 at December 31, 2009 (classified above at December 31, 2009 as temporary equity)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_PreferredStockValue_lbl" xml:lang="en-US">Balance as of September 30, 2010</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_PreferredStockValue_lbl" xml:lang="en-US">Balance as of December 31, 2009</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockValue_lbl" xml:lang="en-US">Preferred stock, 30,000,000 shares authorized, series A convertible preferred stock: shares issued: 1,600,000 at December 31, 2011 and December 31, 2010; shares outstanding: none at December 31, 2011 and December 31, 2010</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_PreferredStockValue_lbl" xml:lang="en-US">Preferred Stock, Value, Issued, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PreferredStockValue_lbl" xml:lang="en-US">Series A convertible preferred stock</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdditionalPaidInCapital" xlink:label="us-gaap_AdditionalPaidInCapital" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapital" xlink:to="us-gaap_AdditionalPaidInCapital_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdditionalPaidInCapital_lbl" xml:lang="en-US">Additional paid-in capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_AdditionalPaidInCapital_lbl" xml:lang="en-US">Additional Paid in Capital, Ending Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_AdditionalPaidInCapital_lbl" xml:lang="en-US">Additional Paid in Capital, Beginning Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AdditionalPaidInCapital_lbl" xml:lang="en-US">Additional Paid in Capital, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockValue" xlink:label="us-gaap_TreasuryStockValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockValue" xlink:to="us-gaap_TreasuryStockValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TreasuryStockValue_lbl" xml:lang="en-US">Common stock in treasury, at cost: 37,587,403 shares at December 31, 2010 and 327,722 shares at December 31, 2009</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_TreasuryStockValue_lbl" xml:lang="en-US">Common stock in treasury, at cost: 39,845,172 shares at December 31, 2011 and 37,587,403 shares at December 31, 2010</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:label="us-gaap_TreasuryStockValue_lbl" xml:lang="en-US">Common stock in treasury, at cost: 15,167,044 shares at September 30, 2010 and 327,722 shares at December 31, 2009</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_TreasuryStockValue_lbl" xml:lang="en-US">Treasury Stock, Value, Ending Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_TreasuryStockValue_lbl" xml:lang="en-US">Treasury Stock, Value, Beginning Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TreasuryStockValue_lbl" xml:lang="en-US">Common stock in treasury, at cost: 37,076,791 shares at March 31, 2011 and 37,587,403 shares at December 31, 2010</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_TreasuryStockValue_lbl" xml:lang="en-US">Aggregate purchase price</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:to="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xml:lang="en-US">Accumulated other comprehensive loss</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Net of Tax, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xml:lang="en-US">Accumulated Other Comprehensive Loss, Net balance</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US">Retained earnings</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US">Retained Earnings (Accumulated Deficit), Ending Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US">Retained Earnings (Accumulated Deficit), Beginning Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US">Retained Earnings (Accumulated Deficit), Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="us-gaap_StockholdersEquity" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US">Total NASDAQ OMX stockholders' equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US">Stockholders' Equity Attributable to Parent, Ending Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US">Stockholders' Equity Attributable to Parent, Beginning Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US">Total NASDAQ OMX stockholders' equity</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_MinorityInterest" xlink:label="us-gaap_MinorityInterest" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MinorityInterest_lbl" xml:lang="en-US">Noncontrolling interests</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_MinorityInterest_lbl" xml:lang="en-US">Stockholders' Equity Attributable to Noncontrolling Interest, Ending Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_MinorityInterest_lbl" xml:lang="en-US">Stockholders' Equity Attributable to Noncontrolling Interest, Beginning Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_MinorityInterest_lbl" xml:lang="en-US">Stockholders' Equity Attributable to Noncontrolling Interest, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:to="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl" xml:lang="en-US">Total equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl" xml:lang="en-US">Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl" xml:lang="en-US">Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl" xml:lang="en-US">Total equity</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US">Total liabilities, series A convertible preferred stock and equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US">Total liabilities and equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US">Total liabilities and equity</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockParOrStatedValuePerShare" xlink:to="us-gaap_CommonStockParOrStatedValuePerShare_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xml:lang="en-US">Common stock, par value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xml:lang="en-US">Common stock value per share</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="us-gaap_CommonStockSharesAuthorized" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesAuthorized" xlink:to="us-gaap_CommonStockSharesAuthorized_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesAuthorized_lbl" xml:lang="en-US">Common stock, shares authorized</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="us-gaap_CommonStockSharesIssued" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesIssued" xlink:to="us-gaap_CommonStockSharesIssued_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US">Common stock, shares issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US">Common Stock, Shares, Issued, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US">Common stock</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="us-gaap_CommonStockSharesOutstanding" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US">Common stock, shares outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US">Common Stock, Shares, Outstanding, Ending Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US">Common Stock, Shares, Outstanding, Beginning Balance</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockSharesAuthorized" xlink:label="us-gaap_PreferredStockSharesAuthorized" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesAuthorized" xlink:to="us-gaap_PreferredStockSharesAuthorized_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockSharesAuthorized_lbl" xml:lang="en-US">Preferred stock, shares authorized</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockSharesIssued" xlink:label="us-gaap_PreferredStockSharesIssued" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesIssued" xlink:to="us-gaap_PreferredStockSharesIssued_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockSharesIssued_lbl" xml:lang="en-US">Preferred stock, series A convertible preferred stock: shares issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_PreferredStockSharesIssued_lbl" xml:lang="en-US">Preferred Stock, Shares Issued, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:label="us-gaap_PreferredStockSharesOutstanding" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesOutstanding" xlink:to="us-gaap_PreferredStockSharesOutstanding_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockSharesOutstanding_lbl" xml:lang="en-US">Preferred stock, series A convertible preferred stock: shares outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_PreferredStockSharesOutstanding_lbl" xml:lang="en-US">Preferred Stock, Shares Outstanding, Ending Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_PreferredStockSharesOutstanding_lbl" xml:lang="en-US">Preferred Stock, Shares Outstanding, Beginning Balance</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockShares" xlink:label="us-gaap_TreasuryStockShares" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockShares" xlink:to="us-gaap_TreasuryStockShares_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TreasuryStockShares_lbl" xml:lang="en-US">Common stock in treasury, shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_TreasuryStockShares_lbl" xml:lang="en-US">Share repurchase program (in shares)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_TreasuryStockShares_lbl" xml:lang="en-US">Treasury Stock, Shares, Ending Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_TreasuryStockShares_lbl" xml:lang="en-US">Treasury Stock, Shares, Beginning Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TreasuryStockShares_lbl" xml:lang="en-US">Share repurchase program (in shares)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="us-gaap_IncomeStatementAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementAbstract" xlink:to="us-gaap_IncomeStatementAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeStatementAbstract_lbl" xml:lang="en-US">Consolidated Statements Of Income [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="us-gaap_RevenuesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenuesAbstract" xlink:to="us-gaap_RevenuesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenuesAbstract_lbl" xml:lang="en-US">Revenues:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Revenues" xlink:label="us-gaap_Revenues" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Revenues" xlink:to="us-gaap_Revenues_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Revenues_lbl" xml:lang="en-US">Total revenues</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Revenues_lbl" xml:lang="en-US">Total revenues</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_Revenues_lbl" xml:lang="en-US">Total revenues</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CostOfRevenueAbstract" xlink:label="us-gaap_CostOfRevenueAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostOfRevenueAbstract" xlink:to="us-gaap_CostOfRevenueAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CostOfRevenueAbstract_lbl" xml:lang="en-US">Cost of revenues:</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_TransactionRebates" xlink:label="ndaq_TransactionRebates" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_TransactionRebates" xlink:to="ndaq_TransactionRebates_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_TransactionRebates_lbl" xml:lang="en-US">Transaction Rebates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_TransactionRebates_lbl" xml:lang="en-US">Transaction Rebates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ndaq_TransactionRebates_lbl" xml:lang="en-US">Transaction rebates</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FloorBrokerageExchangeAndClearanceFees" xlink:label="us-gaap_FloorBrokerageExchangeAndClearanceFees" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FloorBrokerageExchangeAndClearanceFees" xlink:to="us-gaap_FloorBrokerageExchangeAndClearanceFees_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FloorBrokerageExchangeAndClearanceFees_lbl" xml:lang="en-US">Brokerage, clearance and exchange fees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_FloorBrokerageExchangeAndClearanceFees_lbl" xml:lang="en-US">Brokerage, clearance and exchange fees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_FloorBrokerageExchangeAndClearanceFees_lbl" xml:lang="en-US">Floor Brokerage, Exchange and Clearance Fees, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CostOfRevenue" xlink:label="us-gaap_CostOfRevenue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostOfRevenue" xlink:to="us-gaap_CostOfRevenue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CostOfRevenue_lbl" xml:lang="en-US">Total cost of revenues</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_CostOfRevenue_lbl" xml:lang="en-US">Cost of revenues</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="us-gaap_CostOfRevenue_lbl" xml:lang="en-US">Total cost of revenues</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CostOfRevenue_lbl" xml:lang="en-US">Cost of Revenue, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CostOfRevenue_lbl" xml:lang="en-US">Cost of revenues</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GrossProfit" xlink:label="us-gaap_GrossProfit" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GrossProfit" xlink:to="us-gaap_GrossProfit_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GrossProfit_lbl" xml:lang="en-US">Revenues less transaction rebates, brokerage, clearance and exchange fees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_GrossProfit_lbl" xml:lang="en-US">Revenues less transaction rebates, brokerage, clearance and exchange fees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_GrossProfit_lbl" xml:lang="en-US">Revenues less transaction rebates, brokerage, clearance and exchange fees</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingExpensesAbstract" xlink:label="us-gaap_OperatingExpensesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpensesAbstract" xlink:to="us-gaap_OperatingExpensesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingExpensesAbstract_lbl" xml:lang="en-US">Operating expenses:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LaborAndRelatedExpense" xlink:label="us-gaap_LaborAndRelatedExpense" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LaborAndRelatedExpense" xlink:to="us-gaap_LaborAndRelatedExpense_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LaborAndRelatedExpense_lbl" xml:lang="en-US">Compensation and benefits</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LaborAndRelatedExpense_lbl" xml:lang="en-US">Labor and Related Expense, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_MarketingAndAdvertisingExpense" xlink:label="us-gaap_MarketingAndAdvertisingExpense" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MarketingAndAdvertisingExpense" xlink:to="us-gaap_MarketingAndAdvertisingExpense_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MarketingAndAdvertisingExpense_lbl" xml:lang="en-US">Marketing and advertising</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_MarketingAndAdvertisingExpense_lbl" xml:lang="en-US">Marketing and Advertising Expense, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="us-gaap_DepreciationAndAmortization" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepreciationAndAmortization" xlink:to="us-gaap_DepreciationAndAmortization_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DepreciationAndAmortization_lbl" xml:lang="en-US">Depreciation and amortization</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DepreciationAndAmortization_lbl" xml:lang="en-US">Depreciation, Depletion and Amortization, Nonproduction, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProfessionalFees" xlink:label="us-gaap_ProfessionalFees" />
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_RegulatoryOperatingExpense" xlink:to="ndaq_RegulatoryOperatingExpense_lbl" />
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentIncomeInterest" xlink:to="us-gaap_InvestmentIncomeInterest_lbl" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestExpense_lbl" xml:lang="en-US">Interest Expense</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_InterestExpense_lbl" xml:lang="en-US">Interest Expense, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_InterestExpense_lbl" xml:lang="en-US">Net income expense</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InvestmentIncomeNet" xlink:label="us-gaap_InvestmentIncomeNet" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentIncomeNet" xlink:to="us-gaap_InvestmentIncomeNet_lbl" />
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EquityMethodInvestmentOtherThanTemporaryImpairment" xlink:label="us-gaap_EquityMethodInvestmentOtherThanTemporaryImpairment" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_EquityMethodInvestmentOtherThanTemporaryImpairment_lbl" xml:lang="en-US">Asset impairment charge</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal" xlink:label="us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal_lbl" xml:lang="en-US">Loss on divestiture of businesses</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncomeLossFromEquityMethodInvestments_lbl" xml:lang="en-US">Net (income) loss from unconsolidated investees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="us-gaap_IncomeLossFromEquityMethodInvestments_lbl" xml:lang="en-US">Equity method investment, income (loss)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeLossFromEquityMethodInvestments_lbl" xml:lang="en-US">Income (loss) from unconsolidated investees, net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncomeLossFromEquityMethodInvestments_lbl" xml:lang="en-US">Income (Loss) from Equity Method Investments, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncomeLossFromEquityMethodInvestments_lbl" xml:lang="en-US">Income (loss) from equity method investments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GainLossOnSaleOfSecuritiesNet" xlink:label="us-gaap_GainLossOnSaleOfSecuritiesNet" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainLossOnSaleOfSecuritiesNet_lbl" xml:lang="en-US">Loss on sale of investment security</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_GainLossOnSaleOfSecuritiesNet_lbl" xml:lang="en-US">Loss on sale of investment security</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_GainLossOnSaleOfSecuritiesNet_lbl" xml:lang="en-US">Loss on sale of investment security</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_GainLossOnSaleOfSecuritiesNet_lbl" xml:lang="en-US">Gain (Loss) on Sale of Securities, Net, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_GainLossOnSaleOfSecuritiesNet_lbl" xml:lang="en-US">Loss on sale of investment security</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_GainOnSalesOfBusinesses" xlink:label="ndaq_GainOnSalesOfBusinesses" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_GainOnSalesOfBusinesses_lbl" xml:lang="en-US">Gain on sales of businesses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_GainOnSalesOfBusinesses_lbl" xml:lang="en-US">Gain On Sales Of Businesses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ndaq_GainOnSalesOfBusinesses_lbl" xml:lang="en-US">Gain on sales of businesses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_GainOnSalesOfBusinesses_lbl" xml:lang="en-US">Gain on sales of businesses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ndaq_GainOnSalesOfBusinesses_lbl" xml:lang="en-US">Gain on sales of businesses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InducedConversionOfConvertibleDebtExpense" xlink:label="us-gaap_InducedConversionOfConvertibleDebtExpense" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_InducedConversionOfConvertibleDebtExpense_lbl" xml:lang="en-US">Debt conversion expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InducedConversionOfConvertibleDebtExpense_lbl" xml:lang="en-US">Debt conversion expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_InducedConversionOfConvertibleDebtExpense_lbl" xml:lang="en-US">Amortization of debt issuance costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_lbl" xml:lang="en-US">Income (loss) before income taxes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_lbl" xml:lang="en-US">Income before income taxes</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Income tax (expense) benefit</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProfitLoss_lbl" xml:lang="en-US">Profit Loss</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax_lbl" xml:lang="en-US">Unrealized holding losses arising during the period</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax_lbl" xml:lang="en-US">Income tax benefit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax_lbl" xml:lang="en-US">Net unrealized holding gains (losses) on available-for-sale securities, tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax_lbl" xml:lang="en-US">Income tax benefit, net of valuation allowance</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherComprehensiveIncomeReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax" xlink:label="us-gaap_OtherComprehensiveIncomeReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherComprehensiveIncomeReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax_lbl" xml:lang="en-US">Other Comprehensive Income (Loss), Reclassification Adjustment for Sale of Securities Included in Net Income, Net of Tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherComprehensiveIncomeReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax_lbl" xml:lang="en-US">Reclassification adjustment for losses realized in net income on available-for-sale investment securities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherComprehensiveIncomeAvailableForSaleSecuritiesAdjustmentNetOfTaxPeriodIncreaseDecrease" xlink:label="us-gaap_OtherComprehensiveIncomeAvailableForSaleSecuritiesAdjustmentNetOfTaxPeriodIncreaseDecrease" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherComprehensiveIncomeAvailableForSaleSecuritiesAdjustmentNetOfTaxPeriodIncreaseDecrease_lbl" xml:lang="en-US">Other Comprehensive Income, Available-for-sale Securities Adjustment, Net of Tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="us-gaap_OtherComprehensiveIncomeAvailableForSaleSecuritiesAdjustmentNetOfTaxPeriodIncreaseDecrease_lbl" xml:lang="en-US">Total</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecreaseAbstract" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecreaseAbstract" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecreaseAbstract_lbl" xml:lang="en-US">Foreign currency translation gains (losses):</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPeriodIncreaseDecrease" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPeriodIncreaseDecrease" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPeriodIncreaseDecrease_lbl" xml:lang="en-US">Net foreign currency translation gains</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPeriodIncreaseDecrease_lbl" xml:lang="en-US">Other Comprehensive Income, Foreign Currency Transaction and Translation Adjustment, before Tax, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPeriodIncreaseDecrease_lbl" xml:lang="en-US">Net foreign currency translation gains (losses)</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTax_lbl" xml:lang="en-US">Other Comprehensive Income, Foreign Currency Translation Adjustment, Tax, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTax_lbl" xml:lang="en-US">Foreign currency translation, tax</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease_lbl" xml:lang="en-US">Foreign currency translation, net of tax</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax_lbl" xml:lang="en-US">Change in unrealized losses on derivative financial instruments that qualify as cash flow hedges, tax</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_lbl" xml:lang="en-US">Restricted stock awards issued</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_OtherPurchasesOfCommonStockNetValue_lbl" xml:lang="en-US">Other purchases of common stock net value</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_OtherPurchasesOfCommonStockNetValue_lbl" xml:lang="en-US">Other issuances of common stock, net</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_OtherPurchasesOfCommonStockNetInShares_lbl" xml:lang="en-US">Other purchases of common stock net in shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_OtherPurchasesOfCommonStockNetInShares_lbl" xml:lang="en-US">Other Purchases Of Common Stock Net In Shares</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensation_lbl" xml:lang="en-US">Share based compensation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensation_lbl" xml:lang="en-US">Share-based compensation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_ShareBasedCompensation_lbl" xml:lang="en-US">Share-based Compensation, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities" xlink:label="us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities" xlink:to="us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities_lbl" xml:lang="en-US">Excess Tax Benefit from Share-based Compensation, Operating Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities_lbl" xml:lang="en-US">Excess tax benefits related to share-based compensation</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProvisionForDoubtfulAccounts" xlink:label="us-gaap_ProvisionForDoubtfulAccounts" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProvisionForDoubtfulAccounts" xlink:to="us-gaap_ProvisionForDoubtfulAccounts_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProvisionForDoubtfulAccounts_lbl" xml:lang="en-US">Provision for bad debts</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_WriteOffOfDeferredDebtIssuanceCost" xlink:label="us-gaap_WriteOffOfDeferredDebtIssuanceCost" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WriteOffOfDeferredDebtIssuanceCost" xlink:to="us-gaap_WriteOffOfDeferredDebtIssuanceCost_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WriteOffOfDeferredDebtIssuanceCost_lbl" xml:lang="en-US">Write off of deferred debt issuance cost</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_WriteOffOfDeferredDebtIssuanceCost_lbl" xml:lang="en-US">Repayments of secured debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_WriteOffOfDeferredDebtIssuanceCost_lbl" xml:lang="en-US">Charges related to debt extinguishment and refinancing</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:label="us-gaap_GainsLossesOnExtinguishmentOfDebt" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:to="us-gaap_GainsLossesOnExtinguishmentOfDebt_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainsLossesOnExtinguishmentOfDebt_lbl" xml:lang="en-US">Gains (Losses) on Extinguishment of Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_GainsLossesOnExtinguishmentOfDebt_lbl" xml:lang="en-US">Gain on the early extinguishment of debt obligations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_GainsLossesOnExtinguishmentOfDebt_lbl" xml:lang="en-US">Gain on the early extinguishment of debt obligations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_GainsLossesOnExtinguishmentOfDebt_lbl" xml:lang="en-US">Gains (Losses) on Extinguishment of Debt, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_GainsLossesOnExtinguishmentOfDebt_lbl" xml:lang="en-US">Pre-tax gain on early extinguishment of debt</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefit" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:to="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Deferred taxes, net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Total deferred income taxes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Deferred income taxes</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:label="us-gaap_AssetImpairmentCharges" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetImpairmentCharges" xlink:to="us-gaap_AssetImpairmentCharges_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetImpairmentCharges_lbl" xml:lang="en-US">Asset retirements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_AssetImpairmentCharges_lbl" xml:lang="en-US">Asset impairment charge</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AssetImpairmentCharges_lbl" xml:lang="en-US">Asset retirements and impairment charges</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AssetImpairmentCharges_lbl" xml:lang="en-US">Asset Impairment Charges, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AssetImpairmentCharges_lbl" xml:lang="en-US">Equity method investment impairment charges</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AmortizationOfFinancingCostsAndDiscounts" xlink:label="us-gaap_AmortizationOfFinancingCostsAndDiscounts" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfFinancingCostsAndDiscounts" xlink:to="us-gaap_AmortizationOfFinancingCostsAndDiscounts_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AmortizationOfFinancingCostsAndDiscounts_lbl" xml:lang="en-US">Amortization of financing costs and discounts</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AmortizationOfFinancingCostsAndDiscounts_lbl" xml:lang="en-US">Amortization of debt issuance costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AmortizationOfFinancingCostsAndDiscounts_lbl" xml:lang="en-US">Amortization of Financing Costs and Discounts, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AmortizationOfFinancingCostsAndDiscounts_lbl" xml:lang="en-US">Amortization expense for debt issuance costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AmortizationOfDebtDiscountPremium" xlink:label="us-gaap_AmortizationOfDebtDiscountPremium" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfDebtDiscountPremium" xlink:to="us-gaap_AmortizationOfDebtDiscountPremium_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AmortizationOfDebtDiscountPremium_lbl" xml:lang="en-US">Amortization of Debt Discount (Premium)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AmortizationOfDebtDiscountPremium_lbl" xml:lang="en-US">Accretion of debt discounts</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherNoncashIncomeExpense" xlink:label="us-gaap_OtherNoncashIncomeExpense" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherNoncashIncomeExpense" xlink:to="us-gaap_OtherNoncashIncomeExpense_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherNoncashIncomeExpense_lbl" xml:lang="en-US">Other non-cash items included in net income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_OtherNoncashIncomeExpense_lbl" xml:lang="en-US">Other non-cash items included in net income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OtherNoncashIncomeExpense_lbl" xml:lang="en-US">Other Noncash Income (Expense), Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl" xml:lang="en-US">Net change in operating assets and liabilities, net of effects of acquisitions and divestitures:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInReceivables" xlink:label="us-gaap_IncreaseDecreaseInReceivables" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInReceivables" xlink:to="us-gaap_IncreaseDecreaseInReceivables_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInReceivables_lbl" xml:lang="en-US">Increase (Decrease) in Receivables</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInReceivables_lbl" xml:lang="en-US">Receivables, net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncreaseDecreaseInReceivables_lbl" xml:lang="en-US">Increase (Decrease) in Receivables, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingAssets" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:to="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl" xml:lang="en-US">Increase (Decrease) in Other Operating Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl" xml:lang="en-US">Other assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl" xml:lang="en-US">Increase (Decrease) in Other Operating Assets, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:to="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xml:lang="en-US">Increase (Decrease) in Accounts Payable and Accrued Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xml:lang="en-US">Increase (Decrease) in Accounts Payable and Accrued Liabilities, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xml:lang="en-US">Accounts payable and accrued expenses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInOtherAccountsPayable" xlink:label="us-gaap_IncreaseDecreaseInOtherAccountsPayable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOtherAccountsPayable" xlink:to="us-gaap_IncreaseDecreaseInOtherAccountsPayable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOtherAccountsPayable_lbl" xml:lang="en-US">Increase (Decrease) in Other Accounts Payable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInOtherAccountsPayable_lbl" xml:lang="en-US">Section 31 fees payable to SEC</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities" xlink:label="us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities" xlink:to="us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities_lbl" xml:lang="en-US">Increase (Decrease) in Employee Related Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities_lbl" xml:lang="en-US">Increase (Decrease) in Employee Related Liabilities, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities_lbl" xml:lang="en-US">Accrued personnel costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInDeferredRevenue" xlink:label="us-gaap_IncreaseDecreaseInDeferredRevenue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInDeferredRevenue" xlink:to="us-gaap_IncreaseDecreaseInDeferredRevenue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInDeferredRevenue_lbl" xml:lang="en-US">Increase (Decrease) in Deferred Revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInDeferredRevenue_lbl" xml:lang="en-US">Deferred revenue</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:to="us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_lbl" xml:lang="en-US">Increase (Decrease) in Other Operating Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_lbl" xml:lang="en-US">Other non-current liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_lbl" xml:lang="en-US">Increase (Decrease) in Other Operating Liabilities, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_lbl" xml:lang="en-US">Other liabilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US">Cash provided by operating activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US">Net cash provided by operating activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US">Net cash provided by (used in) operating activities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from investing activities:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquireShortTermInvestments" xlink:label="us-gaap_PaymentsToAcquireShortTermInvestments" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireShortTermInvestments" xlink:to="us-gaap_PaymentsToAcquireShortTermInvestments_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireShortTermInvestments_lbl" xml:lang="en-US">Purchases of trading securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquireShortTermInvestments_lbl" xml:lang="en-US">Purchases of trading securities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:label="us-gaap_PaymentsToAcquireEquityMethodInvestments" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:to="us-gaap_PaymentsToAcquireEquityMethodInvestments_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireEquityMethodInvestments_lbl" xml:lang="en-US">Payments to Acquire Equity Method Investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquireEquityMethodInvestments_lbl" xml:lang="en-US">Purchase of equity method investment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PaymentsToAcquireEquityMethodInvestments_lbl" xml:lang="en-US">Purchase of equity method investment</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities" xlink:label="us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities" xlink:to="us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities_lbl" xml:lang="en-US">Proceeds from sales and redemptions of trading securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities_lbl" xml:lang="en-US">Proceeds from Sale and Maturity of Marketable Securities, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities" xlink:label="us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities" xlink:to="us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities_lbl" xml:lang="en-US">Proceeds from Sale of Available-for-sale Securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities_lbl" xml:lang="en-US">Proceeds from sales and redemptions of available-for-sale investment securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities_lbl" xml:lang="en-US">Proceeds from Sale of Available-for-sale Securities, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromSaleOfEquityMethodInvestments" xlink:label="us-gaap_ProceedsFromSaleOfEquityMethodInvestments" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleOfEquityMethodInvestments" xlink:to="us-gaap_ProceedsFromSaleOfEquityMethodInvestments_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromSaleOfEquityMethodInvestments_lbl" xml:lang="en-US">Proceeds from sales of equity method investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromSaleOfEquityMethodInvestments_lbl" xml:lang="en-US">Proceeds from sales of equity method investments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:label="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:to="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_lbl" xml:lang="en-US">Acquisitions of businesses, net of cash and cash equivalents acquired and purchase accounting adjustments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_lbl" xml:lang="en-US">Acquisitions of businesses, net of cash acquired</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_lbl" xml:lang="en-US">Payments to Acquire Businesses, Net of Cash Acquired, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested" xlink:label="us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested" xlink:to="us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested_lbl" xml:lang="en-US">Proceeds from Divestiture of Businesses, Net of Cash Divested</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested_lbl" xml:lang="en-US">Dispositions of businesses, net of cash disposed</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested_lbl" xml:lang="en-US">Proceeds from Divestiture of Businesses, Net of Cash Divested, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:to="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xml:lang="en-US">Purchases of property and equipment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xml:lang="en-US">Purchases of property and equipment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xml:lang="en-US">Payments to Acquire Property, Plant, and Equipment, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US">Cash provided by (used in) investing activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US">Net cash used in investing activities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from financing activities:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:label="us-gaap_ProceedsFromIssuanceOfLongTermDebt" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:to="us-gaap_ProceedsFromIssuanceOfLongTermDebt_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromIssuanceOfLongTermDebt_lbl" xml:lang="en-US">Proceeds from debt obligations, net of debt issuance costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_ProceedsFromIssuanceOfLongTermDebt_lbl" xml:lang="en-US">Proceeds from Issuance of Long-term Debt, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RepaymentsOfLongTermDebt" xlink:label="us-gaap_RepaymentsOfLongTermDebt" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfLongTermDebt" xlink:to="us-gaap_RepaymentsOfLongTermDebt_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RepaymentsOfLongTermDebt_lbl" xml:lang="en-US">Payments of debt obligations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_RepaymentsOfLongTermDebt_lbl" xml:lang="en-US">Payments of debt obligations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_RepaymentsOfLongTermDebt_lbl" xml:lang="en-US">Repayments of Long-term Debt, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:to="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" xml:lang="en-US">Cash paid for repurchase of common stock</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" xml:lang="en-US">Cash paid for repurchase of common stock</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToMinorityShareholders" xlink:label="us-gaap_PaymentsToMinorityShareholders" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToMinorityShareholders" xlink:to="us-gaap_PaymentsToMinorityShareholders_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToMinorityShareholders_lbl" xml:lang="en-US">Purchases of noncontrolling interests</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToMinorityShareholders_lbl" xml:lang="en-US">Purchases of noncontrolling interests</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromMinorityShareholders" xlink:label="us-gaap_ProceedsFromMinorityShareholders" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromMinorityShareholders" xlink:to="us-gaap_ProceedsFromMinorityShareholders_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromMinorityShareholders_lbl" xml:lang="en-US">Proceeds from Noncontrolling Interests</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromMinorityShareholders_lbl" xml:lang="en-US">Proceeds from contributions of noncontrolling interests</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_CashInducementPayment" xlink:label="ndaq_CashInducementPayment" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_CashInducementPayment" xlink:to="ndaq_CashInducementPayment_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_CashInducementPayment_lbl" xml:lang="en-US">Cash payment made to debt holder to induce conversion of most of the 3.75% convertible notes into common stock.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_CashInducementPayment_lbl" xml:lang="en-US">Cash Inducement Payment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ndaq_CashInducementPayment_lbl" xml:lang="en-US">Cash payment to affiliates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ndaq_CashInducementPayment_lbl" xml:lang="en-US">Cash inducement payment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_CashInducementPayment_lbl" xml:lang="en-US">Cash inducement payment</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:to="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl" xml:lang="en-US">Issuances of common stock, net of treasury stock purchases</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities" xlink:label="us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities" xlink:to="us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities_lbl" xml:lang="en-US">Excess tax benefits related to share-based compensation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities_lbl" xml:lang="en-US">Income tax benefit</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US">Cash used in financing activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US">Net cash used in financing activities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents" xlink:label="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents" xlink:to="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents_lbl" xml:lang="en-US">Effect of exchange rate changes on cash and cash equivalents</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents_lbl" xml:lang="en-US">Effect of Exchange Rate on Cash and Cash Equivalents, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" xml:lang="en-US">Increase (decrease) in cash and cash equivalents</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" xml:lang="en-US">Net increase (decrease) in cash and cash equivalents</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="us-gaap_SupplementalCashFlowInformationAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract_lbl" xml:lang="en-US">Supplemental Disclosure Cash Flow Information</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_CashPaidDuringPeriodForAbstract" xlink:label="ndaq_CashPaidDuringPeriodForAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_CashPaidDuringPeriodForAbstract" xlink:to="ndaq_CashPaidDuringPeriodForAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_CashPaidDuringPeriodForAbstract_lbl" xml:lang="en-US">Cash Paid During Period For [Abstract]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:label="us-gaap_FairValueByBalanceSheetGroupingTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:to="us-gaap_FairValueByBalanceSheetGroupingTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueByBalanceSheetGroupingTextBlock_lbl" xml:lang="en-US">Fair Value, by Balance Sheet Grouping [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueByBalanceSheetGroupingTextBlock_lbl" xml:lang="en-US">Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_FairValueByBalanceSheetGroupingTextBlock_lbl" xml:lang="en-US">Fair Value Amounts And Balance Sheet Location Of Our Derivative Instruments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock" xlink:label="us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock" xlink:to="us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock_lbl" xml:lang="en-US">Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock_lbl" xml:lang="en-US">Future Minimum Lease Payments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:to="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_lbl" xml:lang="en-US">Schedule of Segment Reporting Information, by Segment [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_lbl" xml:lang="en-US">Schedule Of Operating Segments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfRevenueFromExternalCustomersAttributedToForeignCountriesByGeographicAreaTextBlock" xlink:label="us-gaap_ScheduleOfRevenueFromExternalCustomersAttributedToForeignCountriesByGeographicAreaTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfRevenueFromExternalCustomersAttributedToForeignCountriesByGeographicAreaTextBlock" xlink:to="us-gaap_ScheduleOfRevenueFromExternalCustomersAttributedToForeignCountriesByGeographicAreaTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfRevenueFromExternalCustomersAttributedToForeignCountriesByGeographicAreaTextBlock_lbl" xml:lang="en-US">Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfRevenueFromExternalCustomersAttributedToForeignCountriesByGeographicAreaTextBlock_lbl" xml:lang="en-US">Revenue By Geographical Area</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_OrganizationAndNatureOfOperationsTable" xlink:label="ndaq_OrganizationAndNatureOfOperationsTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_OrganizationAndNatureOfOperationsTable" xlink:to="ndaq_OrganizationAndNatureOfOperationsTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_OrganizationAndNatureOfOperationsTable_lbl" xml:lang="en-US">Organization and Nature of Operations [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_OrganizationAndNatureOfOperationsTable_lbl" xml:lang="en-US">Organization and Nature of Operations [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="us-gaap_StatementBusinessSegmentsAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementBusinessSegmentsAxis" xlink:to="us-gaap_StatementBusinessSegmentsAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementBusinessSegmentsAxis_lbl" xml:lang="en-US">Statement, Business Segments [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SegmentDomain" xlink:label="us-gaap_SegmentDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentDomain" xlink:to="us-gaap_SegmentDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SegmentDomain_lbl" xml:lang="en-US">Segment [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SegmentDomain_lbl" xml:lang="en-US">Reporting Segment [Domain]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_MarketTechnologyMember" xlink:label="ndaq_MarketTechnologyMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_MarketTechnologyMember" xlink:to="ndaq_MarketTechnologyMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_MarketTechnologyMember_lbl" xml:lang="en-US">Market Technology [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_MarketTechnologyMember_lbl" xml:lang="en-US">Market Technology [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_MarketTechnologyMember_lbl" xml:lang="en-US">Market Technology [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_OperationsInSixContinents" xlink:label="ndaq_OperationsInSixContinents" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_OperationsInSixContinents" xlink:to="ndaq_OperationsInSixContinents_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_OperationsInSixContinents_lbl" xml:lang="en-US">Operations In Six Continents</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_OperationsInSixContinents_lbl" xml:lang="en-US">Operations In Six Continents</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_OperationsInSixContinents_lbl" xml:lang="en-US">Operations in number of continents</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_TotalNumberOfUSListedCompanies" xlink:label="ndaq_TotalNumberOfUSListedCompanies" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_TotalNumberOfUSListedCompanies" xlink:to="ndaq_TotalNumberOfUSListedCompanies_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_TotalNumberOfUSListedCompanies_lbl" xml:lang="en-US">Total Number Of U.S. companies listed on The NASDAQ Stock Market.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_TotalNumberOfUSListedCompanies_lbl" xml:lang="en-US">Total Number Of U.S. Listed Companies</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_TotalNumberOfUSListedCompanies_lbl" xml:lang="en-US">Total number of U.S. listed companies</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_HomeToListedCompaniesWithCombinedMarketCapitalization" xlink:label="ndaq_HomeToListedCompaniesWithCombinedMarketCapitalization" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_HomeToListedCompaniesWithCombinedMarketCapitalization" xlink:to="ndaq_HomeToListedCompaniesWithCombinedMarketCapitalization_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_HomeToListedCompaniesWithCombinedMarketCapitalization_lbl" xml:lang="en-US">Approximate Combined Market Capitalization of companies listed on The NASDAQ Stock Market.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_HomeToListedCompaniesWithCombinedMarketCapitalization_lbl" xml:lang="en-US">Home To Listed Companies With Combined Market Capitalization</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_HomeToListedCompaniesWithCombinedMarketCapitalization_lbl" xml:lang="en-US">Home to listed companies with a combined market capitalization</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_TotalNumberOfListedCompaniesWithinNordicAndBalticExchanges" xlink:label="ndaq_TotalNumberOfListedCompaniesWithinNordicAndBalticExchanges" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_TotalNumberOfListedCompaniesWithinNordicAndBalticExchanges" xlink:to="ndaq_TotalNumberOfListedCompaniesWithinNordicAndBalticExchanges_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_TotalNumberOfListedCompaniesWithinNordicAndBalticExchanges_lbl" xml:lang="en-US">Total Number of Listed Companies within Nordic and Baltic Exchanges</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_TotalNumberOfListedCompaniesWithinNordicAndBalticExchanges_lbl" xml:lang="en-US">Total number of listed companies within Nordic and Baltic exchanges</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_ApproximateCombinedMarketCapitalization" xlink:label="ndaq_ApproximateCombinedMarketCapitalization" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_ApproximateCombinedMarketCapitalization" xlink:to="ndaq_ApproximateCombinedMarketCapitalization_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_ApproximateCombinedMarketCapitalization_lbl" xml:lang="en-US">Approximate Combined Market Capitalization of companies listed on NASDAQ OMX Nordic and NASDAQ OMX Baltic exchanges</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_ApproximateCombinedMarketCapitalization_lbl" xml:lang="en-US">Approximate Combined Market Capitalization</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_ApproximateCombinedMarketCapitalization_lbl" xml:lang="en-US">Approximate combined market capitalization</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_UnitedStatesAverageCashEquitiesVolumePercentage" xlink:label="ndaq_UnitedStatesAverageCashEquitiesVolumePercentage" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_UnitedStatesAverageCashEquitiesVolumePercentage" xlink:to="ndaq_UnitedStatesAverageCashEquitiesVolumePercentage_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_UnitedStatesAverageCashEquitiesVolumePercentage_lbl" xml:lang="en-US">United States Average Cash Equities Volume, Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_UnitedStatesAverageCashEquitiesVolumePercentage_lbl" xml:lang="en-US">United States Average Cash Equities Volume, Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_UnitedStatesAverageCashEquitiesVolumePercentage_lbl" xml:lang="en-US">U.S. cash equities volume, percentage</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_AverageMarketShareInUnitedStatesEquityOptionsMarket" xlink:label="ndaq_AverageMarketShareInUnitedStatesEquityOptionsMarket" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_AverageMarketShareInUnitedStatesEquityOptionsMarket" xlink:to="ndaq_AverageMarketShareInUnitedStatesEquityOptionsMarket_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_AverageMarketShareInUnitedStatesEquityOptionsMarket_lbl" xml:lang="en-US">NASDAQ OMX PHLX and The NASDAQ Options Market Average Combined Market Share in United States Equity Options Market</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_AverageMarketShareInUnitedStatesEquityOptionsMarket_lbl" xml:lang="en-US">Average Market Share in United States Equity Options Market</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_AverageMarketShareInUnitedStatesEquityOptionsMarket_lbl" xml:lang="en-US">Market share in the U.S. equity options market</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_PercentageOfShareInUnitedStatesEquityAndEtfOptionsMarket" xlink:label="ndaq_PercentageOfShareInUnitedStatesEquityAndEtfOptionsMarket" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_PercentageOfShareInUnitedStatesEquityAndEtfOptionsMarket" xlink:to="ndaq_PercentageOfShareInUnitedStatesEquityAndEtfOptionsMarket_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_PercentageOfShareInUnitedStatesEquityAndEtfOptionsMarket_lbl" xml:lang="en-US">Percentage of share in united states equity and ETF options market</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_PercentageOfShareInUnitedStatesEquityAndEtfOptionsMarket_lbl" xml:lang="en-US">Percentage Of Share In United States Equity And ETF Options Market</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_PercentageOfShareInUnitedStatesEquityAndEtfOptionsMarket_lbl" xml:lang="en-US">Percentage of share in U.S. equity and ETF options market</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:label="us-gaap_EquityMethodInvestmentOwnershipPercentage" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:to="us-gaap_EquityMethodInvestmentOwnershipPercentage_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquityMethodInvestmentOwnershipPercentage_lbl" xml:lang="en-US">Equity method investment, ownership percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EquityMethodInvestmentOwnershipPercentage_lbl" xml:lang="en-US">Business acquisition percentage of EMCF</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EquityMethodInvestmentOwnershipPercentage_lbl" xml:lang="en-US">Equity method investment, ownership percentage</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_NumberOfMembers" xlink:label="ndaq_NumberOfMembers" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_NumberOfMembers" xlink:to="ndaq_NumberOfMembers_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_NumberOfMembers_lbl" xml:lang="en-US">Number Of Members</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_NumberOfMembers_lbl" xml:lang="en-US">Number Of Members</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_NumberOfMembers_lbl" xml:lang="en-US">Number of members</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_ServicesProvidedOverNumberOfExchanges" xlink:label="ndaq_ServicesProvidedOverNumberOfExchanges" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_ServicesProvidedOverNumberOfExchanges" xlink:to="ndaq_ServicesProvidedOverNumberOfExchanges_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_ServicesProvidedOverNumberOfExchanges_lbl" xml:lang="en-US">Services Provided Over Number Of Exchanges</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_ServicesProvidedOverNumberOfExchanges_lbl" xml:lang="en-US">Services Provided Over Number Of Exchanges</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_ServicesProvidedOverNumberOfExchanges_lbl" xml:lang="en-US">Market Technology segment delivers services, exchanges</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_ServicesProvidedOverNumberOfCountries" xlink:label="ndaq_ServicesProvidedOverNumberOfCountries" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_ServicesProvidedOverNumberOfCountries" xlink:to="ndaq_ServicesProvidedOverNumberOfCountries_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_ServicesProvidedOverNumberOfCountries_lbl" xml:lang="en-US">Services Provided Over Number Of Countries</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_ServicesProvidedOverNumberOfCountries_lbl" xml:lang="en-US">Services Provided Over Number Of Countries</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_ServicesProvidedOverNumberOfCountries_lbl" xml:lang="en-US">Market Technology segment delivers services, countries</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_NumberOfWorldWideListedCompanies" xlink:label="ndaq_NumberOfWorldWideListedCompanies" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_NumberOfWorldWideListedCompanies" xlink:to="ndaq_NumberOfWorldWideListedCompanies_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_NumberOfWorldWideListedCompanies_lbl" xml:lang="en-US">Number of world wide listed companies</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_NumberOfWorldWideListedCompanies_lbl" xml:lang="en-US">Number Of World Wide Listed Companies</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_NumberOfWorldWideListedCompanies_lbl" xml:lang="en-US">Number of world wide listed companies</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_ApproximateMarketValue" xlink:label="ndaq_ApproximateMarketValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_ApproximateMarketValue" xlink:to="ndaq_ApproximateMarketValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_ApproximateMarketValue_lbl" xml:lang="en-US">Approximate market value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_ApproximateMarketValue_lbl" xml:lang="en-US">Approximate Market Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_ApproximateMarketValue_lbl" xml:lang="en-US">Approximate market value</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_SummaryOfSignificantAccountingPoliciesTable" xlink:label="ndaq_SummaryOfSignificantAccountingPoliciesTable" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_SummaryOfSignificantAccountingPoliciesTable_lbl" xml:lang="en-US">Summary Of Significant Accounting Policies [Table]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RangeAxis_lbl" xml:lang="en-US">Range [Axis]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MinimumMember_lbl" xml:lang="en-US">Minimum [Member]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:to="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl" xml:lang="en-US">Property Plant And Equipment Type [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl" xml:lang="en-US">Property, Plant and Equipment, Type [Domain]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_FurnitureAndEquipmentMember" xlink:label="ndaq_FurnitureAndEquipmentMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_FurnitureAndEquipmentMember" xlink:to="ndaq_FurnitureAndEquipmentMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_FurnitureAndEquipmentMember_lbl" xml:lang="en-US">Furniture And Equipment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_FurnitureAndEquipmentMember_lbl" xml:lang="en-US">Furniture And Equipment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_FurnitureAndEquipmentMember_lbl" xml:lang="en-US">Furniture And Equipment [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_DataProcessingEquipmentMember" xlink:label="ndaq_DataProcessingEquipmentMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_DataProcessingEquipmentMember" xlink:to="ndaq_DataProcessingEquipmentMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_DataProcessingEquipmentMember_lbl" xml:lang="en-US">Data Processing Equipment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_DataProcessingEquipmentMember_lbl" xml:lang="en-US">Data Processing Equipment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_DataProcessingEquipmentMember_lbl" xml:lang="en-US">Data Processing Equipment [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InvestmentTypeAxis" xlink:label="us-gaap_InvestmentTypeAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentTypeAxis" xlink:to="us-gaap_InvestmentTypeAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentTypeAxis_lbl" xml:lang="en-US">Investment Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InvestmentTypeCategorizationMember" xlink:label="us-gaap_InvestmentTypeCategorizationMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentTypeCategorizationMember" xlink:to="us-gaap_InvestmentTypeCategorizationMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentTypeCategorizationMember_lbl" xml:lang="en-US">Investment Type Categorization [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentTypeCategorizationMember_lbl" xml:lang="en-US">Investment Type Categorization [Domain]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_InvestmentInDubaiFinancialMarketMember" xlink:label="ndaq_InvestmentInDubaiFinancialMarketMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_InvestmentInDubaiFinancialMarketMember" xlink:to="ndaq_InvestmentInDubaiFinancialMarketMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_InvestmentInDubaiFinancialMarketMember_lbl" xml:lang="en-US">Investment In Dubai Financial Market[Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_InvestmentInDubaiFinancialMarketMember_lbl" xml:lang="en-US">Investment In Dubai Financial Market [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_InvestmentInDubaiFinancialMarketMember_lbl" xml:lang="en-US">Investment In DFM [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_IdcgSGuarantyFundMember" xlink:label="ndaq_IdcgSGuarantyFundMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_IdcgSGuarantyFundMember" xlink:to="ndaq_IdcgSGuarantyFundMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_IdcgSGuarantyFundMember_lbl" xml:lang="en-US">IDCG's Guaranty Fund [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_IdcgSGuarantyFundMember_lbl" xml:lang="en-US">Idcg S Guaranty Fund [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_IdcgSGuarantyFundMember_lbl" xml:lang="en-US">IDCG's Guaranty Fund [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_CapitalInjectionToNoccMember" xlink:label="ndaq_CapitalInjectionToNoccMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_CapitalInjectionToNoccMember" xlink:to="ndaq_CapitalInjectionToNoccMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_CapitalInjectionToNoccMember_lbl" xml:lang="en-US">Capital Injection To NOCC [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_CapitalInjectionToNoccMember_lbl" xml:lang="en-US">Capital Injection To Nocc [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_CapitalInjectionToNoccMember_lbl" xml:lang="en-US">Capital Injection To NOCC [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_InvestmentInNasdaqDubaiMember" xlink:label="ndaq_InvestmentInNasdaqDubaiMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_InvestmentInNasdaqDubaiMember" xlink:to="ndaq_InvestmentInNasdaqDubaiMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_InvestmentInNasdaqDubaiMember_lbl" xml:lang="en-US">Investment In NASDAQ Dubai [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_InvestmentInNasdaqDubaiMember_lbl" xml:lang="en-US">Investment In Nasdaq Dubai [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_InvestmentInNasdaqDubaiMember_lbl" xml:lang="en-US">Investment In NASDAQ Dubai [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_CashInBankAndNonRestrictedHighlyLiquidInvestmentMember" xlink:label="ndaq_CashInBankAndNonRestrictedHighlyLiquidInvestmentMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_CashInBankAndNonRestrictedHighlyLiquidInvestmentMember" xlink:to="ndaq_CashInBankAndNonRestrictedHighlyLiquidInvestmentMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_CashInBankAndNonRestrictedHighlyLiquidInvestmentMember_lbl" xml:lang="en-US">Cash In Bank And Non-Restricted Highly Liquid Investment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_CashInBankAndNonRestrictedHighlyLiquidInvestmentMember_lbl" xml:lang="en-US">Cash In Bank And Non Restricted Highly Liquid Investment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_CashInBankAndNonRestrictedHighlyLiquidInvestmentMember_lbl" xml:lang="en-US">Cash In Bank And Non-Restricted Highly Liquid Investments [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_OrcSharesMember" xlink:label="ndaq_OrcSharesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_OrcSharesMember" xlink:to="ndaq_OrcSharesMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_OrcSharesMember_lbl" xml:lang="en-US">ORC Shares [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_OrcSharesMember_lbl" xml:lang="en-US">Orc Shares [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_OrcSharesMember_lbl" xml:lang="en-US">Orc Shares [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_CashInBankAndNonRestrictedHighlyLiquidInvestmentsMaturityPeriod" xlink:label="ndaq_CashInBankAndNonRestrictedHighlyLiquidInvestmentsMaturityPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_CashInBankAndNonRestrictedHighlyLiquidInvestmentsMaturityPeriod" xlink:to="ndaq_CashInBankAndNonRestrictedHighlyLiquidInvestmentsMaturityPeriod_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_CashInBankAndNonRestrictedHighlyLiquidInvestmentsMaturityPeriod_lbl" xml:lang="en-US">Cash In Bank And Non-Restricted Highly Liquid Investments Maturity Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_CashInBankAndNonRestrictedHighlyLiquidInvestmentsMaturityPeriod_lbl" xml:lang="en-US">Cash In Bank And Non-Restricted Highly Liquid Investments Maturity Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_CashInBankAndNonRestrictedHighlyLiquidInvestmentsMaturityPeriod_lbl" xml:lang="en-US">Cash in banks and non-restricted highly liquid investments with original maturities</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_InvestmentReverseRepurchaseAgreementAmountToBeReceived" xlink:label="ndaq_InvestmentReverseRepurchaseAgreementAmountToBeReceived" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_InvestmentReverseRepurchaseAgreementAmountToBeReceived" xlink:to="ndaq_InvestmentReverseRepurchaseAgreementAmountToBeReceived_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_InvestmentReverseRepurchaseAgreementAmountToBeReceived_lbl" xml:lang="en-US">Investment Reverse Repurchase Agreement, Amount to be Received</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_InvestmentReverseRepurchaseAgreementAmountToBeReceived_lbl" xml:lang="en-US">Investment Reverse Repurchase Agreement, Amount to be Received</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_InvestmentReverseRepurchaseAgreementAmountToBeReceived_lbl" xml:lang="en-US">Reverse repurchase agreement amount</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_NoccNonCurrentRestrictedCash" xlink:label="ndaq_NoccNonCurrentRestrictedCash" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_NoccNonCurrentRestrictedCash" xlink:to="ndaq_NoccNonCurrentRestrictedCash_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_NoccNonCurrentRestrictedCash_lbl" xml:lang="en-US">NOCC Non Current Restricted Cash</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_NoccNonCurrentRestrictedCash_lbl" xml:lang="en-US">NOCC non-current restricted cash</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:to="us-gaap_AllowanceForDoubtfulAccountsReceivable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivable_lbl" xml:lang="en-US">Allowance for Doubtful Accounts Receivable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivable_lbl" xml:lang="en-US">Reserves netted against receivables</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_UnrealizedGainLossOnInterestRateCashFlowHedgesPretaxAccumulatedOtherComprehensiveIncomeLoss" xlink:label="us-gaap_UnrealizedGainLossOnInterestRateCashFlowHedgesPretaxAccumulatedOtherComprehensiveIncomeLoss" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnrealizedGainLossOnInterestRateCashFlowHedgesPretaxAccumulatedOtherComprehensiveIncomeLoss" xlink:to="us-gaap_UnrealizedGainLossOnInterestRateCashFlowHedgesPretaxAccumulatedOtherComprehensiveIncomeLoss_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UnrealizedGainLossOnInterestRateCashFlowHedgesPretaxAccumulatedOtherComprehensiveIncomeLoss_lbl" xml:lang="en-US">Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_UnrealizedGainLossOnInterestRateCashFlowHedgesPretaxAccumulatedOtherComprehensiveIncomeLoss_lbl" xml:lang="en-US">Accumulated other comprehensive loss, unrealized loss on interest rate swap</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLifeMinimum" xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLifeMinimum" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentUsefulLifeMinimum" xlink:to="us-gaap_PropertyPlantAndEquipmentUsefulLifeMinimum_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLifeMinimum_lbl" xml:lang="en-US">Property, Plant and Equipment, Useful Life, Minimum</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLifeMinimum_lbl" xml:lang="en-US">Property and equipment estimated useful life, minimum</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLifeMaximum" xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLifeMaximum" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentUsefulLifeMaximum" xlink:to="us-gaap_PropertyPlantAndEquipmentUsefulLifeMaximum_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLifeMaximum_lbl" xml:lang="en-US">Property, Plant and Equipment, Useful Life, Maximum</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLifeMaximum_lbl" xml:lang="en-US">Property and equipment estimated useful life, maximum</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GoodwillImpairmentLoss" xlink:label="us-gaap_GoodwillImpairmentLoss" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GoodwillImpairmentLoss_lbl" xml:lang="en-US">Goodwill, impairment loss</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsUsefulLifeMinimum" xlink:label="us-gaap_FiniteLivedIntangibleAssetsUsefulLifeMinimum" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsUsefulLifeMaximum_lbl" xml:lang="en-US">Intangible assets estimated useful lives, maximum</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherAssetImpairmentCharges_lbl" xml:lang="en-US">Impairment of other long-lived assets</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_OtherImpairmentOfEquityMethodInvestments_lbl" xml:lang="en-US">Other Impairment Of Equity Method Investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_OtherImpairmentOfEquityMethodInvestments_lbl" xml:lang="en-US">Other Impairment Of Equity Method Investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_OtherImpairmentOfEquityMethodInvestments_lbl" xml:lang="en-US">Other impairments of equity method investments</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_GainOrLossOnSaleOfPreviouslyUnissuedStockByEquityInvestee_lbl" xml:lang="en-US">Loss on sale of investment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_GainOrLossOnSaleOfPreviouslyUnissuedStockByEquityInvestee_lbl" xml:lang="en-US">Loss on the sale of our Orc shares</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_MediaAdvertisingAndProductionCosts" xlink:label="ndaq_MediaAdvertisingAndProductionCosts" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_MediaAdvertisingAndProductionCosts" xlink:to="ndaq_MediaAdvertisingAndProductionCosts_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_MediaAdvertisingAndProductionCosts_lbl" xml:lang="en-US">Media Advertising And Production Costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_MediaAdvertisingAndProductionCosts_lbl" xml:lang="en-US">Media Advertising And Production Costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_MediaAdvertisingAndProductionCosts_lbl" xml:lang="en-US">Media advertising and production costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:to="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xml:lang="en-US">Debt instrument, interest rate, stated percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xml:lang="en-US">Debt instrument, interest rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xml:lang="en-US">Convertible notes, stated interest percentage</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_PercentageOfCarryingValueOverFairValueOfGoodwillForTwoStepGoodwillImpairmentTest" xlink:label="ndaq_PercentageOfCarryingValueOverFairValueOfGoodwillForTwoStepGoodwillImpairmentTest" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_PercentageOfCarryingValueOverFairValueOfGoodwillForTwoStepGoodwillImpairmentTest" xlink:to="ndaq_PercentageOfCarryingValueOverFairValueOfGoodwillForTwoStepGoodwillImpairmentTest_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_PercentageOfCarryingValueOverFairValueOfGoodwillForTwoStepGoodwillImpairmentTest_lbl" xml:lang="en-US">Percentage Of Carrying Value Over Fair Value Of Goodwill For Two Step Goodwill Impairment Test</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_PercentageOfCarryingValueOverFairValueOfGoodwillForTwoStepGoodwillImpairmentTest_lbl" xml:lang="en-US">Percentage Of Carrying Value Over Fair Value Of Goodwill For Two Step Goodwill Impairment Test</label>
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    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_AdjustmentsToProvisionalValues" xlink:label="ndaq_AdjustmentsToProvisionalValues" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_AdjustmentsToProvisionalValues_lbl" xml:lang="en-US">Adjustments to Provisional Values</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_AdjustmentsToProvisionalValues_lbl" xml:lang="en-US">Adjustments to provisional values</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:label="us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_lbl" xml:lang="en-US">Schedule of Business Acquisitions, by Acquisition [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="us-gaap_BusinessAcquisitionAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionAxis" xlink:to="us-gaap_BusinessAcquisitionAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionAxis_lbl" xml:lang="en-US">Business Acquisition [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="us-gaap_BusinessAcquisitionAcquireeDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionAcquireeDomain" xlink:to="us-gaap_BusinessAcquisitionAcquireeDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionAcquireeDomain_lbl" xml:lang="en-US">Business Acquisition Acquiree [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessAcquisitionAcquireeDomain_lbl" xml:lang="en-US">Business Acquisition, Acquiree [Domain]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_FtenMember" xlink:label="ndaq_FtenMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_FtenMember" xlink:to="ndaq_FtenMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_FtenMember_lbl" xml:lang="en-US">FTEN [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_FtenMember_lbl" xml:lang="en-US">Ften [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_FtenMember_lbl" xml:lang="en-US">FTEN [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_SmartsMember" xlink:label="ndaq_SmartsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_SmartsMember" xlink:to="ndaq_SmartsMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_SmartsMember_lbl" xml:lang="en-US">SMARTS [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_SmartsMember_lbl" xml:lang="en-US">Smarts [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_SmartsMember_lbl" xml:lang="en-US">SMARTS [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_NordPoolAsaMember" xlink:label="ndaq_NordPoolAsaMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_NordPoolAsaMember" xlink:to="ndaq_NordPoolAsaMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_NordPoolAsaMember_lbl" xml:lang="en-US">Nord Pool ASA [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_NordPoolAsaMember_lbl" xml:lang="en-US">Nord Pool Asa [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_NordPoolAsaMember_lbl" xml:lang="en-US">Nord Pool ASA [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_GlideTechnologiesMember" xlink:label="ndaq_GlideTechnologiesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_GlideTechnologiesMember" xlink:to="ndaq_GlideTechnologiesMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_GlideTechnologiesMember_lbl" xml:lang="en-US">Glide technologies [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_GlideTechnologiesMember_lbl" xml:lang="en-US">Glide Technologies [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_GlideTechnologiesMember_lbl" xml:lang="en-US">Glide Technologies [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionLineItems" xlink:label="us-gaap_BusinessAcquisitionLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionLineItems" xlink:to="us-gaap_BusinessAcquisitionLineItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionLineItems_lbl" xml:lang="en-US">Business Acquisition [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice" xlink:label="us-gaap_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice" xlink:to="us-gaap_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice_lbl" xml:lang="en-US">Business Acquisition, Cost of Acquired Entity, Purchase Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice_lbl" xml:lang="en-US">Business Acquisition Cost Of Acquired Entity Purchase Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice_lbl" xml:lang="en-US">Business Acquisition, Cost of Acquired Entity, Purchase Price, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice_lbl" xml:lang="en-US">Purchase Consideration</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquiredLiabilitiesAssumedNet" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquiredLiabilitiesAssumedNet" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquiredLiabilitiesAssumedNet_lbl" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Assets Acquired (Liabilities Assumed), Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquiredLiabilitiesAssumedNet_lbl" xml:lang="en-US">Total Net (Liabilities) Assets Acquired</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquiredLiabilitiesAssumedNet_lbl" xml:lang="en-US">Total Net (Liabilities) Assets Acquired</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquiredLiabilitiesAssumedNet_lbl" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Assets Acquired (Liabilities Assumed), Net, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquiredLiabilitiesAssumedNet_lbl" xml:lang="en-US">Total Net (Liabilities) Assets Acquired</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationGoodwillAmount_lbl" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Goodwill Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationGoodwillAmount_lbl" xml:lang="en-US">Goodwill</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationGoodwillAmount_lbl" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Goodwill Amount, Total</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_SmartAcquisitionInitialPurchasePrice" xlink:label="ndaq_SmartAcquisitionInitialPurchasePrice" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_SmartAcquisitionInitialPurchasePrice" xlink:to="ndaq_SmartAcquisitionInitialPurchasePrice_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_SmartAcquisitionInitialPurchasePrice_lbl" xml:lang="en-US">Smart Acquisition Initial Purchase Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_SmartAcquisitionInitialPurchasePrice_lbl" xml:lang="en-US">Smart Acquisition Initial Purchase Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_SmartAcquisitionInitialPurchasePrice_lbl" xml:lang="en-US">SMARTS acquisition initial purchase price</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_BusinessAcquisitionCostOfAcquiredEntityToBePaidOutOfEscrowInOneYear" xlink:label="ndaq_BusinessAcquisitionCostOfAcquiredEntityToBePaidOutOfEscrowInOneYear" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_BusinessAcquisitionCostOfAcquiredEntityToBePaidOutOfEscrowInOneYear" xlink:to="ndaq_BusinessAcquisitionCostOfAcquiredEntityToBePaidOutOfEscrowInOneYear_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_BusinessAcquisitionCostOfAcquiredEntityToBePaidOutOfEscrowInOneYear_lbl" xml:lang="en-US">Amount of purchase consideration to be paid in one year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_BusinessAcquisitionCostOfAcquiredEntityToBePaidOutOfEscrowInOneYear_lbl" xml:lang="en-US">Business acquisition cost of acquired entity to be paid out of escrow in one year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_BusinessAcquisitionCostOfAcquiredEntityToBePaidOutOfEscrowInOneYear_lbl" xml:lang="en-US">Purchase consideration to be paid out of escrow in 2012</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ndaq_BusinessAcquisitionCostOfAcquiredEntityToBePaidOutOfEscrowInOneYear_lbl" xml:lang="en-US">Purchase consideration to be paid out of escrow in 2012</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_SmartAcquisitionWorkingCapitalAdjustment" xlink:label="ndaq_SmartAcquisitionWorkingCapitalAdjustment" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_SmartAcquisitionWorkingCapitalAdjustment" xlink:to="ndaq_SmartAcquisitionWorkingCapitalAdjustment_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_SmartAcquisitionWorkingCapitalAdjustment_lbl" xml:lang="en-US">SMART Acquisition Working Capital Adjustment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_SmartAcquisitionWorkingCapitalAdjustment_lbl" xml:lang="en-US">Smart Acquisition Working Capital Adjustment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_SmartAcquisitionWorkingCapitalAdjustment_lbl" xml:lang="en-US">SMARTS acquisition working capital adjustment</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_TotalAcquiredNetAssetsAtFairValue" xlink:label="ndaq_TotalAcquiredNetAssetsAtFairValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_TotalAcquiredNetAssetsAtFairValue" xlink:to="ndaq_TotalAcquiredNetAssetsAtFairValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_TotalAcquiredNetAssetsAtFairValue_lbl" xml:lang="en-US">Total Acquired Net Assets at Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_TotalAcquiredNetAssetsAtFairValue_lbl" xml:lang="en-US">Total acquired net assets at fair value</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_AcquisitionRecordedAsCurrentDeferredTaxLiability" xlink:label="ndaq_AcquisitionRecordedAsCurrentDeferredTaxLiability" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_AcquisitionRecordedAsCurrentDeferredTaxLiability" xlink:to="ndaq_AcquisitionRecordedAsCurrentDeferredTaxLiability_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_AcquisitionRecordedAsCurrentDeferredTaxLiability_lbl" xml:lang="en-US">Acquisition Recorded as Current Deferred Tax Liability</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_AcquisitionRecordedAsCurrentDeferredTaxLiability_lbl" xml:lang="en-US">Acquisition recorded as current deferred tax liability</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_AcquisitionRecordedAsNonCurrentDeferredTaxLiability" xlink:label="ndaq_AcquisitionRecordedAsNonCurrentDeferredTaxLiability" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_AcquisitionRecordedAsNonCurrentDeferredTaxLiability" xlink:to="ndaq_AcquisitionRecordedAsNonCurrentDeferredTaxLiability_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_AcquisitionRecordedAsNonCurrentDeferredTaxLiability_lbl" xml:lang="en-US">Acquisition Recorded As Non Current Deferred Tax Liability</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_AcquisitionRecordedAsNonCurrentDeferredTaxLiability_lbl" xml:lang="en-US">Acquisition recorded as non-current deferred tax liability</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_AcquisitionRecordedAsNonCurrentDeferredTaxAsset" xlink:label="ndaq_AcquisitionRecordedAsNonCurrentDeferredTaxAsset" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_AcquisitionRecordedAsNonCurrentDeferredTaxAsset" xlink:to="ndaq_AcquisitionRecordedAsNonCurrentDeferredTaxAsset_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_AcquisitionRecordedAsNonCurrentDeferredTaxAsset_lbl" xml:lang="en-US">Acquisition recorded as non-current deferred tax asset</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_AcquisitionRecordedAsNonCurrentDeferredTaxAsset_lbl" xml:lang="en-US">Acquisition Recorded As Non-Current Deferred Tax Asset</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_AcquisitionRecordedAsNonCurrentDeferredTaxAsset_lbl" xml:lang="en-US">Acquisition recorded as non-current deferred tax asset</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxesBusinessCombinationValuationAllowanceAvailableToReduceIntangibleAssets" xlink:label="us-gaap_DeferredTaxesBusinessCombinationValuationAllowanceAvailableToReduceIntangibleAssets" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxesBusinessCombinationValuationAllowanceAvailableToReduceIntangibleAssets" xlink:to="us-gaap_DeferredTaxesBusinessCombinationValuationAllowanceAvailableToReduceIntangibleAssets_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxesBusinessCombinationValuationAllowanceAvailableToReduceIntangibleAssets_lbl" xml:lang="en-US">Deferred Taxes, Business Combination, Valuation Allowance, Available to Reduce Intangible Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredTaxesBusinessCombinationValuationAllowanceAvailableToReduceIntangibleAssets_lbl" xml:lang="en-US">Deferred taxes, business combination, valuation allowance, available to reduce intangible assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DeferredTaxesBusinessCombinationValuationAllowanceAvailableToReduceIntangibleAssets_lbl" xml:lang="en-US">Total deferred tax liability</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxLiabilitiesOther" xlink:label="us-gaap_DeferredTaxLiabilitiesOther" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxLiabilitiesOther" xlink:to="us-gaap_DeferredTaxLiabilitiesOther_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxLiabilitiesOther_lbl" xml:lang="en-US">Deferred Tax Liabilities, Other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_DeferredTaxLiabilitiesOther_lbl" xml:lang="en-US">Other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredTaxLiabilitiesOther_lbl" xml:lang="en-US">Tax basis of intangible asset acquired</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DeferredTaxLiabilitiesOther_lbl" xml:lang="en-US">Other</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_AcquisitionEffectiveTaxRate" xlink:label="ndaq_AcquisitionEffectiveTaxRate" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_AcquisitionEffectiveTaxRate" xlink:to="ndaq_AcquisitionEffectiveTaxRate_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_AcquisitionEffectiveTaxRate_lbl" xml:lang="en-US">Acquisition Effective Tax Rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_AcquisitionEffectiveTaxRate_lbl" xml:lang="en-US">Acquisition effective tax rate</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_AcquiredIntangibleAssetInTechnology" xlink:label="ndaq_AcquiredIntangibleAssetInTechnology" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_AcquiredIntangibleAssetInTechnology" xlink:to="ndaq_AcquiredIntangibleAssetInTechnology_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_AcquiredIntangibleAssetInTechnology_lbl" xml:lang="en-US">Acquired Intangible Asset in Technology</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_AcquiredIntangibleAssetInTechnology_lbl" xml:lang="en-US">Acquired intangible asset in technology</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_AcquiredIntangibleAssetInTradeName" xlink:label="ndaq_AcquiredIntangibleAssetInTradeName" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_AcquiredIntangibleAssetInTradeName" xlink:to="ndaq_AcquiredIntangibleAssetInTradeName_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_AcquiredIntangibleAssetInTradeName_lbl" xml:lang="en-US">Acquired intangible asset in trade name</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_AcquiredIntangibleAssetInTradeName_lbl" xml:lang="en-US">Acquired Intangible Asset In Trade Name</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_AcquiredIntangibleAssetInTradeName_lbl" xml:lang="en-US">Acquired intangible asset in trade name</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_AcquiredIntangibleAssetInNonCompeteAgreements" xlink:label="ndaq_AcquiredIntangibleAssetInNonCompeteAgreements" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_AcquiredIntangibleAssetInNonCompeteAgreements" xlink:to="ndaq_AcquiredIntangibleAssetInNonCompeteAgreements_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_AcquiredIntangibleAssetInNonCompeteAgreements_lbl" xml:lang="en-US">Acquired intangible asset in non-compete agreements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_AcquiredIntangibleAssetInNonCompeteAgreements_lbl" xml:lang="en-US">Acquired Intangible Asset In Non-Compete Agreements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_AcquiredIntangibleAssetInNonCompeteAgreements_lbl" xml:lang="en-US">Acquired intangible asset in non-compete agreements</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_AcquiredIntangibleAssetInCustomerRelationships" xlink:label="ndaq_AcquiredIntangibleAssetInCustomerRelationships" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_AcquiredIntangibleAssetInCustomerRelationships" xlink:to="ndaq_AcquiredIntangibleAssetInCustomerRelationships_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_AcquiredIntangibleAssetInCustomerRelationships_lbl" xml:lang="en-US">Acquired Intangible Asset in Customer Relationships</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_AcquiredIntangibleAssetInCustomerRelationships_lbl" xml:lang="en-US">Acquired intangible asset in customer relationships</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfGoodwillTable" xlink:label="us-gaap_ScheduleOfGoodwillTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfGoodwillTable" xlink:to="us-gaap_ScheduleOfGoodwillTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfGoodwillTable_lbl" xml:lang="en-US">Schedule of Goodwill [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AcquiredFiniteLivedIntangibleAssetsByMajorClassAxis" xlink:label="us-gaap_AcquiredFiniteLivedIntangibleAssetsByMajorClassAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AcquiredFiniteLivedIntangibleAssetsByMajorClassAxis" xlink:to="us-gaap_AcquiredFiniteLivedIntangibleAssetsByMajorClassAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AcquiredFiniteLivedIntangibleAssetsByMajorClassAxis_lbl" xml:lang="en-US">Acquired Finite-Lived Intangible Assets by Major Class [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:to="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_lbl" xml:lang="en-US">Finite Lived Intangible Assets Major Class Name [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_lbl" xml:lang="en-US">Finite-Lived Intangible Assets, Major Class Name [Domain]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_ForeignCurrencyTranslationAdjustmentMember" xlink:label="ndaq_ForeignCurrencyTranslationAdjustmentMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_ForeignCurrencyTranslationAdjustmentMember" xlink:to="ndaq_ForeignCurrencyTranslationAdjustmentMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_ForeignCurrencyTranslationAdjustmentMember_lbl" xml:lang="en-US">Foreign currency translation adjustment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_ForeignCurrencyTranslationAdjustmentMember_lbl" xml:lang="en-US">Foreign Currency Translation Adjustment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_ForeignCurrencyTranslationAdjustmentMember_lbl" xml:lang="en-US">Foreign Currency Translation Adjustment [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems" xlink:label="us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems" xlink:to="us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems_lbl" xml:lang="en-US">Acquired Finite-Lived Intangible Assets [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsGoodwill" xlink:label="us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsGoodwill" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsGoodwill" xlink:to="us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsGoodwill_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsGoodwill_lbl" xml:lang="en-US">Deferred Tax Liabilities, Goodwill and Intangible Assets, Goodwill</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsGoodwill_lbl" xml:lang="en-US">Goodwill expected to be deductible in future periods</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpense" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpense" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpense" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpense_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpense_lbl" xml:lang="en-US">Finite-lived intangible assets, amortization expense</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNet" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNet" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="us-gaap_FiniteLivedIntangibleAssetsNet_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNet_lbl" xml:lang="en-US">Finite-Lived Intangible Assets, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNet_lbl" xml:lang="en-US">Total finite-lived intangible assets, Net Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNet_lbl" xml:lang="en-US">Net intangible assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNet_lbl" xml:lang="en-US">Total finite-lived intangible assets, Net Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNet_lbl" xml:lang="en-US">Total finite-lived intangible assets, Net Assets</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_MarketServicesMember" xlink:label="ndaq_MarketServicesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_MarketServicesMember" xlink:to="ndaq_MarketServicesMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_MarketServicesMember_lbl" xml:lang="en-US">Market Services [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_MarketServicesMember_lbl" xml:lang="en-US">Market Services [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_MarketServicesMember_lbl" xml:lang="en-US">Market Services [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_IssuerServicesMember" xlink:label="ndaq_IssuerServicesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_IssuerServicesMember" xlink:to="ndaq_IssuerServicesMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_IssuerServicesMember_lbl" xml:lang="en-US">Issuer Services [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_IssuerServicesMember_lbl" xml:lang="en-US">Issuer Services [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_IssuerServicesMember_lbl" xml:lang="en-US">Issuer Services [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GoodwillLineItems" xlink:label="us-gaap_GoodwillLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GoodwillLineItems" xlink:to="us-gaap_GoodwillLineItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GoodwillLineItems_lbl" xml:lang="en-US">Goodwill [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GoodwillAcquiredDuringPeriod" xlink:label="us-gaap_GoodwillAcquiredDuringPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GoodwillAcquiredDuringPeriod" xlink:to="us-gaap_GoodwillAcquiredDuringPeriod_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GoodwillAcquiredDuringPeriod_lbl" xml:lang="en-US">Goodwill, Acquired During Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_GoodwillAcquiredDuringPeriod_lbl" xml:lang="en-US">Goodwill acquired</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GoodwillTranslationAdjustments" xlink:label="us-gaap_GoodwillTranslationAdjustments" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GoodwillTranslationAdjustments" xlink:to="us-gaap_GoodwillTranslationAdjustments_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GoodwillTranslationAdjustments_lbl" xml:lang="en-US">Goodwill Translation Adjustments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_GoodwillTranslationAdjustments_lbl" xml:lang="en-US">Foreign currency translation adjustment</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DevelopedTechnologyRightsMember" xlink:label="us-gaap_DevelopedTechnologyRightsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DevelopedTechnologyRightsMember" xlink:to="us-gaap_DevelopedTechnologyRightsMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DevelopedTechnologyRightsMember_lbl" xml:lang="en-US">Developed Technology Rights [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DevelopedTechnologyRightsMember_lbl" xml:lang="en-US">Technology [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CustomerRelationshipsMember" xlink:label="us-gaap_CustomerRelationshipsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CustomerRelationshipsMember" xlink:to="us-gaap_CustomerRelationshipsMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CustomerRelationshipsMember_lbl" xml:lang="en-US">Customer Relationships [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CustomerRelationshipsMember_lbl" xml:lang="en-US">Customer Relationships [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_OtherFiniteLivedIntangibleAssetsMember" xlink:label="ndaq_OtherFiniteLivedIntangibleAssetsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_OtherFiniteLivedIntangibleAssetsMember" xlink:to="ndaq_OtherFiniteLivedIntangibleAssetsMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_OtherFiniteLivedIntangibleAssetsMember_lbl" xml:lang="en-US">Other Finite-Lived Intangible Assets [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_OtherFiniteLivedIntangibleAssetsMember_lbl" xml:lang="en-US">Other Finite Lived Intangible Assets [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_OtherFiniteLivedIntangibleAssetsMember_lbl" xml:lang="en-US">Other [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_TotalFiniteLivedIntangibleAssetsMember" xlink:label="ndaq_TotalFiniteLivedIntangibleAssetsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_TotalFiniteLivedIntangibleAssetsMember" xlink:to="ndaq_TotalFiniteLivedIntangibleAssetsMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_TotalFiniteLivedIntangibleAssetsMember_lbl" xml:lang="en-US">Total finite-lived intangible assets [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_TotalFiniteLivedIntangibleAssetsMember_lbl" xml:lang="en-US">Total Finite Lived Intangible Assets [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_TotalFiniteLivedIntangibleAssetsMember_lbl" xml:lang="en-US">Finite-Lived Intangible Assets [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis" xlink:label="us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis" xlink:to="us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_lbl" xml:lang="en-US">Indefinite-lived Intangible Assets by Major Class [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:to="us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_lbl" xml:lang="en-US">Indefinite Lived Intangible Assets Major Class Name [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_lbl" xml:lang="en-US">Indefinite-lived Intangible Assets, Major Class Name [Domain]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_ExchangeAndClearingRegistrationsMember" xlink:label="ndaq_ExchangeAndClearingRegistrationsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_ExchangeAndClearingRegistrationsMember" xlink:to="ndaq_ExchangeAndClearingRegistrationsMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_ExchangeAndClearingRegistrationsMember_lbl" xml:lang="en-US">Exchange and clearing registrations [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_ExchangeAndClearingRegistrationsMember_lbl" xml:lang="en-US">Exchange And Clearing Registrations [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_ExchangeAndClearingRegistrationsMember_lbl" xml:lang="en-US">Exchange And Clearing Registrations [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TradeNamesMember" xlink:label="us-gaap_TradeNamesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TradeNamesMember" xlink:to="us-gaap_TradeNamesMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TradeNamesMember_lbl" xml:lang="en-US">Trade Names [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TradeNamesMember_lbl" xml:lang="en-US">Trade Names [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LicensingAgreementsMember" xlink:label="us-gaap_LicensingAgreementsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LicensingAgreementsMember" xlink:to="us-gaap_LicensingAgreementsMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LicensingAgreementsMember_lbl" xml:lang="en-US">Licensing Agreements [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LicensingAgreementsMember_lbl" xml:lang="en-US">Licenses [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_TotalIndefiniteLivedIntangibleAssetsMember" xlink:label="ndaq_TotalIndefiniteLivedIntangibleAssetsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_TotalIndefiniteLivedIntangibleAssetsMember" xlink:to="ndaq_TotalIndefiniteLivedIntangibleAssetsMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_TotalIndefiniteLivedIntangibleAssetsMember_lbl" xml:lang="en-US">Total indefinite-lived intangible assets [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_TotalIndefiniteLivedIntangibleAssetsMember_lbl" xml:lang="en-US">Total Indefinite Lived Intangible Assets [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_TotalIndefiniteLivedIntangibleAssetsMember_lbl" xml:lang="en-US">Indefinite-Lived Intangible Assets [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsGross" xlink:label="us-gaap_FiniteLivedIntangibleAssetsGross" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsGross" xlink:to="us-gaap_FiniteLivedIntangibleAssetsGross_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsGross_lbl" xml:lang="en-US">Finite-Lived Intangible Assets, Gross</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsGross_lbl" xml:lang="en-US">Total finite-lived intangible assets, Gross Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsGross_lbl" xml:lang="en-US">Finite-Lived Intangible Assets, Gross, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_lbl" xml:lang="en-US">Finite-Lived Intangible Assets, Accumulated Amortization</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_lbl" xml:lang="en-US">Accumulated Amortization</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_lbl" xml:lang="en-US">Accumulated Amortization</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AcquiredFiniteLivedIntangibleAssetWeightedAverageUsefulLife" xlink:label="us-gaap_AcquiredFiniteLivedIntangibleAssetWeightedAverageUsefulLife" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AcquiredFiniteLivedIntangibleAssetWeightedAverageUsefulLife" xlink:to="us-gaap_AcquiredFiniteLivedIntangibleAssetWeightedAverageUsefulLife_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AcquiredFiniteLivedIntangibleAssetWeightedAverageUsefulLife_lbl" xml:lang="en-US">Acquired Finite-lived Intangible Asset, Weighted Average Useful Life</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AcquiredFiniteLivedIntangibleAssetWeightedAverageUsefulLife_lbl" xml:lang="en-US">Total finite-lived intangible assets, Weighted Average Useful Life (in Years)</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_IndefiniteLivedIntangibleAssetsGrossCarryingAmount" xlink:label="ndaq_IndefiniteLivedIntangibleAssetsGrossCarryingAmount" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_IndefiniteLivedIntangibleAssetsGrossCarryingAmount" xlink:to="ndaq_IndefiniteLivedIntangibleAssetsGrossCarryingAmount_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_IndefiniteLivedIntangibleAssetsGrossCarryingAmount_lbl" xml:lang="en-US">Indefinite-Lived Intangible Assets, Gross Carrying Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_IndefiniteLivedIntangibleAssetsGrossCarryingAmount_lbl" xml:lang="en-US">Indefinite-Lived Intangible Assets, Gross Carrying Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_IndefiniteLivedIntangibleAssetsGrossCarryingAmount_lbl" xml:lang="en-US">Total indefinite-lived intangible assets, Gross Amount</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill" xlink:label="us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill" xlink:to="us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill_lbl" xml:lang="en-US">Indefinite-Lived Intangible Assets (Excluding Goodwill)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill_lbl" xml:lang="en-US">Net Intangible Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill_lbl" xml:lang="en-US">Indefinite-Lived Intangible Assets (Excluding Goodwill), Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill_lbl" xml:lang="en-US">Total indefinite-lived intangible assets, Net Amount</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_TotalIntangibleAssetsGross" xlink:label="ndaq_TotalIntangibleAssetsGross" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_TotalIntangibleAssetsGross" xlink:to="ndaq_TotalIntangibleAssetsGross_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_TotalIntangibleAssetsGross_lbl" xml:lang="en-US">Total Intangible Assets Gross</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_TotalIntangibleAssetsGross_lbl" xml:lang="en-US">Total Intangible Assets Gross</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_TotalIntangibleAssetsGross_lbl" xml:lang="en-US">Total intangible assets, Gross Amount</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FutureAmortizationExpenseYearOne" xlink:label="us-gaap_FutureAmortizationExpenseYearOne" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FutureAmortizationExpenseYearOne" xlink:to="us-gaap_FutureAmortizationExpenseYearOne_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FutureAmortizationExpenseYearOne_lbl" xml:lang="en-US">Future Amortization Expense, Year One</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FutureAmortizationExpenseYearOne_lbl" xml:lang="en-US">2012</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FutureAmortizationExpenseYearTwo" xlink:label="us-gaap_FutureAmortizationExpenseYearTwo" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FutureAmortizationExpenseYearTwo" xlink:to="us-gaap_FutureAmortizationExpenseYearTwo_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FutureAmortizationExpenseYearTwo_lbl" xml:lang="en-US">Future Amortization Expense, Year Two</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FutureAmortizationExpenseYearTwo_lbl" xml:lang="en-US">2013</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FutureAmortizationExpenseYearThree" xlink:label="us-gaap_FutureAmortizationExpenseYearThree" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FutureAmortizationExpenseYearThree" xlink:to="us-gaap_FutureAmortizationExpenseYearThree_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FutureAmortizationExpenseYearThree_lbl" xml:lang="en-US">Future Amortization Expense, Year Three</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FutureAmortizationExpenseYearThree_lbl" xml:lang="en-US">2014</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FutureAmortizationExpenseYearFour" xlink:label="us-gaap_FutureAmortizationExpenseYearFour" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FutureAmortizationExpenseYearFour" xlink:to="us-gaap_FutureAmortizationExpenseYearFour_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FutureAmortizationExpenseYearFour_lbl" xml:lang="en-US">Future Amortization Expense, Year Four</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FutureAmortizationExpenseYearFour_lbl" xml:lang="en-US">2015</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FutureAmortizationExpenseYearFive" xlink:label="us-gaap_FutureAmortizationExpenseYearFive" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FutureAmortizationExpenseYearFive" xlink:to="us-gaap_FutureAmortizationExpenseYearFive_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FutureAmortizationExpenseYearFive_lbl" xml:lang="en-US">Future Amortization Expense, Year Five</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FutureAmortizationExpenseYearFive_lbl" xml:lang="en-US">2016</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FutureAmortizationExpenseAfterYearFive" xlink:label="us-gaap_FutureAmortizationExpenseAfterYearFive" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FutureAmortizationExpenseAfterYearFive" xlink:to="us-gaap_FutureAmortizationExpenseAfterYearFive_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FutureAmortizationExpenseAfterYearFive_lbl" xml:lang="en-US">Future Amortization Expense, after Year Five</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FutureAmortizationExpenseAfterYearFive_lbl" xml:lang="en-US">2017 and thereafter</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpense" xlink:label="us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpense" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpense" xlink:to="us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpense_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpense_lbl" xml:lang="en-US">Finite-Lived Intangible Assets, Future Amortization Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpense_lbl" xml:lang="en-US">Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfInvestmentsTable" xlink:label="us-gaap_ScheduleOfInvestmentsTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfInvestmentsTable" xlink:to="us-gaap_ScheduleOfInvestmentsTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfInvestmentsTable_lbl" xml:lang="en-US">Schedule of Investments [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CategoriesOfInvestmentsMarketableSecuritiesTradingSecuritiesMember" xlink:label="us-gaap_CategoriesOfInvestmentsMarketableSecuritiesTradingSecuritiesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CategoriesOfInvestmentsMarketableSecuritiesTradingSecuritiesMember" xlink:to="us-gaap_CategoriesOfInvestmentsMarketableSecuritiesTradingSecuritiesMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CategoriesOfInvestmentsMarketableSecuritiesTradingSecuritiesMember_lbl" xml:lang="en-US">Categories Of Investments Marketable Securities Trading Securities [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CategoriesOfInvestmentsMarketableSecuritiesTradingSecuritiesMember_lbl" xml:lang="en-US">Trading Securities [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_RestrictedAssetsMember" xlink:label="ndaq_RestrictedAssetsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_RestrictedAssetsMember" xlink:to="ndaq_RestrictedAssetsMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_RestrictedAssetsMember_lbl" xml:lang="en-US">Restricted Assets [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_RestrictedAssetsMember_lbl" xml:lang="en-US">Restricted Assets [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_RestrictedAssetsMember_lbl" xml:lang="en-US">Restricted Assets [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_EmcfMember" xlink:label="ndaq_EmcfMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_EmcfMember" xlink:to="ndaq_EmcfMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_EmcfMember_lbl" xml:lang="en-US">EMCF [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_EmcfMember_lbl" xml:lang="en-US">Emcf [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_EmcfMember_lbl" xml:lang="en-US">EMCF [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LegalEntityAxis" xlink:to="dei_LegalEntityAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_LegalEntityAxis_lbl" xml:lang="en-US">Legal Entity [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityDomain" xlink:to="dei_EntityDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityDomain_lbl" xml:lang="en-US">Entity [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityDomain_lbl" xml:lang="en-US">Entity [Domain]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_NasdaqDubaiMember" xlink:label="ndaq_NasdaqDubaiMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_NasdaqDubaiMember" xlink:to="ndaq_NasdaqDubaiMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_NasdaqDubaiMember_lbl" xml:lang="en-US">NASDAQ Dubai [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_NasdaqDubaiMember_lbl" xml:lang="en-US">Nasdaq Dubai [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_NasdaqDubaiMember_lbl" xml:lang="en-US">NASDAQ Dubai [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_OrcSoftwareMember" xlink:label="ndaq_OrcSoftwareMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_OrcSoftwareMember" xlink:to="ndaq_OrcSoftwareMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_OrcSoftwareMember_lbl" xml:lang="en-US">Orc Software [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_OrcSoftwareMember_lbl" xml:lang="en-US">Orc Software [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_OrcSoftwareMember_lbl" xml:lang="en-US">Orc Software [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfInvestmentsLineItems" xlink:label="us-gaap_ScheduleOfInvestmentsLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfInvestmentsLineItems" xlink:to="us-gaap_ScheduleOfInvestmentsLineItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfInvestmentsLineItems_lbl" xml:lang="en-US">Schedule of Investments [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InvestmentOwnedPercentOfNetAssets" xlink:label="us-gaap_InvestmentOwnedPercentOfNetAssets" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentOwnedPercentOfNetAssets" xlink:to="us-gaap_InvestmentOwnedPercentOfNetAssets_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentOwnedPercentOfNetAssets_lbl" xml:lang="en-US">Investment owned, percent of net assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_InvestmentOwnedPercentOfNetAssets_lbl" xml:lang="en-US">Available-for-sale investment security in DFM</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TradingSecuritiesCost" xlink:label="us-gaap_TradingSecuritiesCost" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TradingSecuritiesCost" xlink:to="us-gaap_TradingSecuritiesCost_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TradingSecuritiesCost_lbl" xml:lang="en-US">Trading securities cost</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapital" xlink:label="us-gaap_EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapital" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapital" xlink:to="us-gaap_EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapital_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapital_lbl" xml:lang="en-US">Equity Method Investment, Summarized Financial Information, Equity or Capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapital_lbl" xml:lang="en-US">Equity interest equity method investments</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_EquityMethodInvestmentOwnershipPercentageSold" xlink:label="ndaq_EquityMethodInvestmentOwnershipPercentageSold" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_EquityMethodInvestmentOwnershipPercentageSold" xlink:to="ndaq_EquityMethodInvestmentOwnershipPercentageSold_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_EquityMethodInvestmentOwnershipPercentageSold_lbl" xml:lang="en-US">Equity Method Investment Ownership Percentage Sold</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_EquityMethodInvestmentOwnershipPercentageSold_lbl" xml:lang="en-US">Equity Method Investment Ownership Percentage Sold</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_EquityMethodInvestmentOwnershipPercentageSold_lbl" xml:lang="en-US">Percentage of shares sold</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal" xlink:label="us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal" xlink:to="us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal_lbl" xml:lang="en-US">Equity Method Investment, Realized Gain (Loss) on Disposal</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal_lbl" xml:lang="en-US">Loss on sale of investment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal_lbl" xml:lang="en-US">Equity Method Investment, Realized Gain (Loss) on Disposal, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal_lbl" xml:lang="en-US">loss on sale of investment</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_IncreaseInEquityMethodInvestmentsOwnershipPercentage" xlink:label="ndaq_IncreaseInEquityMethodInvestmentsOwnershipPercentage" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_IncreaseInEquityMethodInvestmentsOwnershipPercentage" xlink:to="ndaq_IncreaseInEquityMethodInvestmentsOwnershipPercentage_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_IncreaseInEquityMethodInvestmentsOwnershipPercentage_lbl" xml:lang="en-US">Increase In Equity Method Investments Ownership Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_IncreaseInEquityMethodInvestmentsOwnershipPercentage_lbl" xml:lang="en-US">Increase In Equity Method Investments Ownership Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_IncreaseInEquityMethodInvestmentsOwnershipPercentage_lbl" xml:lang="en-US">Increase in ownership percentage</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:label="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:to="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_lbl" xml:lang="en-US">Schedule of Property, Plant and Equipment [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentLineItems" xlink:to="us-gaap_PropertyPlantAndEquipmentLineItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems_lbl" xml:lang="en-US">Property, Plant and Equipment [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGross" xlink:label="us-gaap_PropertyPlantAndEquipmentGross" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentGross" xlink:to="us-gaap_PropertyPlantAndEquipmentGross_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentGross_lbl" xml:lang="en-US">Property, Plant and Equipment, Gross</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentGross_lbl" xml:lang="en-US">Property, Plant and Equipment, Gross, Ending Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentGross_lbl" xml:lang="en-US">Property, Plant and Equipment, Gross, Beginning Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentGross_lbl" xml:lang="en-US">Total property and equipment, gross</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentGross_lbl" xml:lang="en-US">Property, Plant and Equipment, Gross, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:to="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" xml:lang="en-US">Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" xml:lang="en-US">Less: accumulated depreciation and amortization</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" xml:lang="en-US">Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment, Ending Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" xml:lang="en-US">Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment, Beginning Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" xml:lang="en-US">Less: accumulated depreciation and amortization</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DepreciationDepletionAndAmortization_lbl" xml:lang="en-US">Depreciation, Depletion and Amortization</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DepreciationDepletionAndAmortization_lbl" xml:lang="en-US">Depreciation and amortization expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DepreciationDepletionAndAmortization_lbl" xml:lang="en-US">Depreciation, Depletion and Amortization, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredRevenueArrangementByTypeTable" xlink:label="us-gaap_DeferredRevenueArrangementByTypeTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueArrangementByTypeTable" xlink:to="us-gaap_DeferredRevenueArrangementByTypeTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredRevenueArrangementByTypeTable_lbl" xml:lang="en-US">Deferred Revenue Arrangement, by Type [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredRevenueArrangementTypeAxis" xlink:label="us-gaap_DeferredRevenueArrangementTypeAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueArrangementTypeAxis" xlink:to="us-gaap_DeferredRevenueArrangementTypeAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredRevenueArrangementTypeAxis_lbl" xml:lang="en-US">Deferred Revenue Arrangement Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredRevenueArrangementTypeDomain" xlink:label="us-gaap_DeferredRevenueArrangementTypeDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueArrangementTypeDomain" xlink:to="us-gaap_DeferredRevenueArrangementTypeDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredRevenueArrangementTypeDomain_lbl" xml:lang="en-US">Deferred Revenue Arrangement Type [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredRevenueArrangementTypeDomain_lbl" xml:lang="en-US">Deferred Revenue Arrangement Type [Domain]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_InitialListingFeesMember" xlink:label="ndaq_InitialListingFeesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_InitialListingFeesMember" xlink:to="ndaq_InitialListingFeesMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_InitialListingFeesMember_lbl" xml:lang="en-US">Initial Listing Fees [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_InitialListingFeesMember_lbl" xml:lang="en-US">Initial Listing Fees [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_InitialListingFeesMember_lbl" xml:lang="en-US">Initial Listing Revenues [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_ListingOfAdditionalSharesFeesMember" xlink:label="ndaq_ListingOfAdditionalSharesFeesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_ListingOfAdditionalSharesFeesMember" xlink:to="ndaq_ListingOfAdditionalSharesFeesMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_ListingOfAdditionalSharesFeesMember_lbl" xml:lang="en-US">Listing Of Additional Shares Fees [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_ListingOfAdditionalSharesFeesMember_lbl" xml:lang="en-US">Listing Of Additional Shares Fees [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_ListingOfAdditionalSharesFeesMember_lbl" xml:lang="en-US">Listing Of Additional Shares Revenues [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_AnnualRenewalFeesAndOtherMember" xlink:label="ndaq_AnnualRenewalFeesAndOtherMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_AnnualRenewalFeesAndOtherMember" xlink:to="ndaq_AnnualRenewalFeesAndOtherMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_AnnualRenewalFeesAndOtherMember_lbl" xml:lang="en-US">Annual Renewal Fees And Other [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_AnnualRenewalFeesAndOtherMember_lbl" xml:lang="en-US">Annual Renewal Fees And Other [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_AnnualRenewalFeesAndOtherMember_lbl" xml:lang="en-US">Annual Renewal And Other Revenues [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredRevenueArrangementLineItems" xlink:label="us-gaap_DeferredRevenueArrangementLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueArrangementLineItems" xlink:to="us-gaap_DeferredRevenueArrangementLineItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredRevenueArrangementLineItems_lbl" xml:lang="en-US">Deferred Revenue Arrangement [Line Items]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearOne" xlink:label="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearOne" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearOne" xlink:to="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearOne_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearOne_lbl" xml:lang="en-US">Deferred Revenue Estimated Revenue Expected Recognized In Year One</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearOne_lbl" xml:lang="en-US">Deferred Revenue Estimated Revenue Expected Recognized In Year One</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearOne_lbl" xml:lang="en-US">2012</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearTwo" xlink:label="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearTwo" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearTwo" xlink:to="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearTwo_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearTwo_lbl" xml:lang="en-US">Deferred Revenue Estimated Revenue Expected Recognized In Year Two</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearTwo_lbl" xml:lang="en-US">Deferred Revenue Estimated Revenue Expected Recognized In Year Two</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearTwo_lbl" xml:lang="en-US">2013</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearThree" xlink:label="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearThree" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearThree" xlink:to="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearThree_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearThree_lbl" xml:lang="en-US">Deferred Revenue Estimated Revenue Expected Recognized In Year Three</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearThree_lbl" xml:lang="en-US">Deferred Revenue Estimated Revenue Expected Recognized In Year Three</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearThree_lbl" xml:lang="en-US">2014</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearFour" xlink:label="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearFour" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearFour" xlink:to="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearFour_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearFour_lbl" xml:lang="en-US">Deferred Revenue Estimated Revenue Expected Recognized In Year Four</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearFour_lbl" xml:lang="en-US">Deferred Revenue Estimated Revenue Expected Recognized In Year Four</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearFour_lbl" xml:lang="en-US">2015</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearFive" xlink:label="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearFive" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearFive" xlink:to="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearFive_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearFive_lbl" xml:lang="en-US">Deferred Revenue Estimated Revenue Expected Recognized In Year Five</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearFive_lbl" xml:lang="en-US">Deferred Revenue Estimated Revenue Expected Recognized In Year Five</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedInYearFive_lbl" xml:lang="en-US">2016</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedAfterYearFive" xlink:label="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedAfterYearFive" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedAfterYearFive" xlink:to="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedAfterYearFive_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedAfterYearFive_lbl" xml:lang="en-US">Deferred Revenue Estimated Revenue Expected Recognized After Year Five</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedAfterYearFive_lbl" xml:lang="en-US">Deferred Revenue Estimated Revenue Expected Recognized After Year Five</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_DeferredRevenueEstimatedRevenueExpectedRecognizedAfterYearFive_lbl" xml:lang="en-US">2017 and thereafter</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_DeferredRevenueEstimatedRevenueToBeRecognized" xlink:label="ndaq_DeferredRevenueEstimatedRevenueToBeRecognized" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_DeferredRevenueEstimatedRevenueToBeRecognized" xlink:to="ndaq_DeferredRevenueEstimatedRevenueToBeRecognized_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_DeferredRevenueEstimatedRevenueToBeRecognized_lbl" xml:lang="en-US">Deferred Revenue Estimated Revenue To Be Recognized</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_DeferredRevenueEstimatedRevenueToBeRecognized_lbl" xml:lang="en-US">Deferred Revenue Estimated Revenue To Be Recognized</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_DeferredRevenueEstimatedRevenueToBeRecognized_lbl" xml:lang="en-US">Deferred revenue estimated revenue to be recognized</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ndaq_DeferredRevenueEstimatedRevenueToBeRecognized_lbl" xml:lang="en-US">Deferred revenue estimated revenue to be recognized</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredRevenue" xlink:label="us-gaap_DeferredRevenue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenue" xlink:to="us-gaap_DeferredRevenue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredRevenue_lbl" xml:lang="en-US">Deferred Revenu</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_DeferredRevenue_lbl" xml:lang="en-US">Ending balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_DeferredRevenue_lbl" xml:lang="en-US">Beginning balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DeferredRevenue_lbl" xml:lang="en-US">Deferred Revenue, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredRevenueAdditions" xlink:label="us-gaap_DeferredRevenueAdditions" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueAdditions" xlink:to="us-gaap_DeferredRevenueAdditions_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredRevenueAdditions_lbl" xml:lang="en-US">Deferred Revenue, Additions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredRevenueAdditions_lbl" xml:lang="en-US">Additions</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredRevenueRevenueRecognized" xlink:label="us-gaap_DeferredRevenueRevenueRecognized" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueRevenueRecognized" xlink:to="us-gaap_DeferredRevenueRevenueRecognized_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredRevenueRevenueRecognized_lbl" xml:lang="en-US">Deferred Revenue, Revenue Recognized</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredRevenueRevenueRecognized_lbl" xml:lang="en-US">Amortization</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_DeferredRevenueForeignCurrencyTranslationAdjustment" xlink:label="ndaq_DeferredRevenueForeignCurrencyTranslationAdjustment" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_DeferredRevenueForeignCurrencyTranslationAdjustment" xlink:to="ndaq_DeferredRevenueForeignCurrencyTranslationAdjustment_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_DeferredRevenueForeignCurrencyTranslationAdjustment_lbl" xml:lang="en-US">Deferred Revenue Foreign Currency Translation Adjustment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_DeferredRevenueForeignCurrencyTranslationAdjustment_lbl" xml:lang="en-US">Deferred Revenue Foreign Currency Translation Adjustment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_DeferredRevenueForeignCurrencyTranslationAdjustment_lbl" xml:lang="en-US">Translation adjustment</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfCapitalizationLongtermDebtTable" xlink:label="us-gaap_ScheduleOfCapitalizationLongtermDebtTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfCapitalizationLongtermDebtTable" xlink:to="us-gaap_ScheduleOfCapitalizationLongtermDebtTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfCapitalizationLongtermDebtTable_lbl" xml:lang="en-US">Schedule of Capitalization, Long-term Debt [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="us-gaap_LongtermDebtTypeAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtTypeAxis" xlink:to="us-gaap_LongtermDebtTypeAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongtermDebtTypeAxis_lbl" xml:lang="en-US">Long-term Debt, Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="us-gaap_LongtermDebtTypeDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtTypeDomain" xlink:to="us-gaap_LongtermDebtTypeDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongtermDebtTypeDomain_lbl" xml:lang="en-US">Longterm Debt Type [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongtermDebtTypeDomain_lbl" xml:lang="en-US">Long-term Debt, Type [Domain]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_LiabilityComponentMember" xlink:label="ndaq_LiabilityComponentMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_LiabilityComponentMember" xlink:to="ndaq_LiabilityComponentMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_LiabilityComponentMember_lbl" xml:lang="en-US">Liability Component [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_LiabilityComponentMember_lbl" xml:lang="en-US">Liability Component [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_LiabilityComponentMember_lbl" xml:lang="en-US">Liability Component [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_EquityComponentMember" xlink:label="ndaq_EquityComponentMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_EquityComponentMember" xlink:to="ndaq_EquityComponentMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_EquityComponentMember_lbl" xml:lang="en-US">Equity Component [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_EquityComponentMember_lbl" xml:lang="en-US">Equity Component [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_EquityComponentMember_lbl" xml:lang="en-US">Equity Component [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="us-gaap_DebtInstrumentAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentAxis" xlink:to="us-gaap_DebtInstrumentAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentAxis_lbl" xml:lang="en-US">Debt Instrument [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="us-gaap_DebtInstrumentNameDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentNameDomain" xlink:to="us-gaap_DebtInstrumentNameDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentNameDomain_lbl" xml:lang="en-US">Debt Instrument Name [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentNameDomain_lbl" xml:lang="en-US">Debt Instrument, Name [Domain]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_TwoPointFiveZeroPercentConvertibleSeniorNotesDueAugustFifteenTwoThousandThirteenMember" xlink:label="ndaq_TwoPointFiveZeroPercentConvertibleSeniorNotesDueAugustFifteenTwoThousandThirteenMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_TwoPointFiveZeroPercentConvertibleSeniorNotesDueAugustFifteenTwoThousandThirteenMember" xlink:to="ndaq_TwoPointFiveZeroPercentConvertibleSeniorNotesDueAugustFifteenTwoThousandThirteenMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_TwoPointFiveZeroPercentConvertibleSeniorNotesDueAugustFifteenTwoThousandThirteenMember_lbl" xml:lang="en-US">Two Point Five Zero Percent Convertible Senior Notes Due August Fifteen Two Thousand Thirteen [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_TwoPointFiveZeroPercentConvertibleSeniorNotesDueAugustFifteenTwoThousandThirteenMember_lbl" xml:lang="en-US">Two Point Five Zero Percent Convertible Senior Notes Due August Fifteen Two Thousand Thirteen [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_TwoPointFiveZeroPercentConvertibleSeniorNotesDueAugustFifteenTwoThousandThirteenMember_lbl" xml:lang="en-US">2.50% Convertible Senior Notes Due August 15, 2013 [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtInstrumentLineItems" xlink:label="us-gaap_DebtInstrumentLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentLineItems" xlink:to="us-gaap_DebtInstrumentLineItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentLineItems_lbl" xml:lang="en-US">Debt Instrument [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ConversionOfStockSharesIssued1" xlink:label="us-gaap_ConversionOfStockSharesIssued1" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConversionOfStockSharesIssued1" xlink:to="us-gaap_ConversionOfStockSharesIssued1_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConversionOfStockSharesIssued1_lbl" xml:lang="en-US">Conversion of Stock, Shares Issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ConversionOfStockSharesIssued1_lbl" xml:lang="en-US">Conversion of stock issued, conversion rate</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_ConvertibleNotesPrincipalAmount" xlink:label="ndaq_ConvertibleNotesPrincipalAmount" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_ConvertibleNotesPrincipalAmount" xlink:to="ndaq_ConvertibleNotesPrincipalAmount_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_ConvertibleNotesPrincipalAmount_lbl" xml:lang="en-US">Convertible Notes, Principal Amount of each Note.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_ConvertibleNotesPrincipalAmount_lbl" xml:lang="en-US">Convertible Notes, Principal Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_ConvertibleNotesPrincipalAmount_lbl" xml:lang="en-US">Convertible notes, principal amount</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_ConvertibleNotesConversionPricePerShareOfCommonStock" xlink:label="ndaq_ConvertibleNotesConversionPricePerShareOfCommonStock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_ConvertibleNotesConversionPricePerShareOfCommonStock" xlink:to="ndaq_ConvertibleNotesConversionPricePerShareOfCommonStock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_ConvertibleNotesConversionPricePerShareOfCommonStock_lbl" xml:lang="en-US">Convertible Notes, Conversion Price Per Share of Common Stock</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_ConvertibleNotesConversionPricePerShareOfCommonStock_lbl" xml:lang="en-US">Convertible Notes, Conversion Price Per Share of Common Stock</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_ConvertibleNotesConversionPricePerShareOfCommonStock_lbl" xml:lang="en-US">Convertible notes, conversion price per share of common stock</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtInstrumentConvertibleNumberOfEquityInstruments" xlink:label="us-gaap_DebtInstrumentConvertibleNumberOfEquityInstruments" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentConvertibleNumberOfEquityInstruments" xlink:to="us-gaap_DebtInstrumentConvertibleNumberOfEquityInstruments_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentConvertibleNumberOfEquityInstruments_lbl" xml:lang="en-US">Debt Instrument, Convertible, Number of Equity Instruments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DebtInstrumentConvertibleNumberOfEquityInstruments_lbl" xml:lang="en-US">Debt instrument convertible, number of equity instruments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtInstrumentInterestRateDuringPeriod" xlink:label="us-gaap_DebtInstrumentInterestRateDuringPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentInterestRateDuringPeriod" xlink:to="us-gaap_DebtInstrumentInterestRateDuringPeriod_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentInterestRateDuringPeriod_lbl" xml:lang="en-US">Debt Instrument, Interest Rate During Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentInterestRateDuringPeriod_lbl" xml:lang="en-US">Debt instrument, interest rate during period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DebtInstrumentInterestRateDuringPeriod_lbl" xml:lang="en-US">Debt instrument, interest rate during period</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtInstrumentMaturityDate" xlink:label="us-gaap_DebtInstrumentMaturityDate" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentMaturityDate" xlink:to="us-gaap_DebtInstrumentMaturityDate_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentMaturityDate_lbl" xml:lang="en-US">Debt instrument, maturity date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentMaturityDate_lbl" xml:lang="en-US">Debt instrument maturity date</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtInstrumentUnamortizedDiscount" xlink:label="us-gaap_DebtInstrumentUnamortizedDiscount" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentUnamortizedDiscount" xlink:to="us-gaap_DebtInstrumentUnamortizedDiscount_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentUnamortizedDiscount_lbl" xml:lang="en-US">Debt instrument, unamortized discount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_DebtInstrumentUnamortizedDiscount_lbl" xml:lang="en-US">Convertible senior notes, unamortized debt discount,ending balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_DebtInstrumentUnamortizedDiscount_lbl" xml:lang="en-US">Convertible senior notes, unamortized debt discount,beginning balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentUnamortizedDiscount_lbl" xml:lang="en-US">Unamortized Debt Discount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DebtInstrumentUnamortizedDiscount_lbl" xml:lang="en-US">Unamortized debt discount</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestExpenseBorrowings" xlink:label="us-gaap_InterestExpenseBorrowings" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpenseBorrowings" xlink:to="us-gaap_InterestExpenseBorrowings_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestExpenseBorrowings_lbl" xml:lang="en-US">Interest Expense, Borrowings</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InterestExpenseBorrowings_lbl" xml:lang="en-US">Interest expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_InterestExpenseBorrowings_lbl" xml:lang="en-US">Interest Expense, Borrowings, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtInstrumentConvertibleEffectiveInterestRate" xlink:label="us-gaap_DebtInstrumentConvertibleEffectiveInterestRate" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentConvertibleEffectiveInterestRate" xlink:to="us-gaap_DebtInstrumentConvertibleEffectiveInterestRate_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentConvertibleEffectiveInterestRate_lbl" xml:lang="en-US">Debt instrument, convertible, effective interest rate</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtConversionConvertedInstrumentRate" xlink:label="us-gaap_DebtConversionConvertedInstrumentRate" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtConversionConvertedInstrumentRate" xlink:to="us-gaap_DebtConversionConvertedInstrumentRate_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtConversionConvertedInstrumentRate_lbl" xml:lang="en-US">Debt Conversion, Converted Instrument, Rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtConversionConvertedInstrumentRate_lbl" xml:lang="en-US">Contractual interest rate</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtInstrumentConvertibleCarryingAmountOfTheEquityComponent" xlink:label="us-gaap_DebtInstrumentConvertibleCarryingAmountOfTheEquityComponent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentConvertibleCarryingAmountOfTheEquityComponent" xlink:to="us-gaap_DebtInstrumentConvertibleCarryingAmountOfTheEquityComponent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentConvertibleCarryingAmountOfTheEquityComponent_lbl" xml:lang="en-US">Debt Instrument, Convertible, Carrying Amount of Equity Component</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentConvertibleCarryingAmountOfTheEquityComponent_lbl" xml:lang="en-US">Gross Equity Component</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DebtInstrumentConvertibleCarryingAmountOfTheEquityComponent_lbl" xml:lang="en-US">Debt instrument, excess of principal amount</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RepaymentsOfSeniorDebt" xlink:label="us-gaap_RepaymentsOfSeniorDebt" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfSeniorDebt" xlink:to="us-gaap_RepaymentsOfSeniorDebt_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RepaymentsOfSeniorDebt_lbl" xml:lang="en-US">Repayments of Senior Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RepaymentsOfSeniorDebt_lbl" xml:lang="en-US">Cash payment for repurchase of convertible senior notes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_RepaymentsOfSeniorDebt_lbl" xml:lang="en-US">Repayments of Senior Debt, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt" xlink:to="us-gaap_AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt_lbl" xml:lang="en-US">Adjustments to Additional Paid in Capital, Equity Component of Convertible Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt_lbl" xml:lang="en-US">Equity component in convertible debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt_lbl" xml:lang="en-US">Early extinguishment of a portion of convertible senior notes</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:to="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_lbl" xml:lang="en-US">Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_lbl" xml:lang="en-US">U.S. marginal tax rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_lbl" xml:lang="en-US">Federal income tax provision at the statutory rate</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredFinanceCostsGross" xlink:label="us-gaap_DeferredFinanceCostsGross" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredFinanceCostsGross" xlink:to="us-gaap_DeferredFinanceCostsGross_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredFinanceCostsGross_lbl" xml:lang="en-US">Deferred Finance Costs, Gross</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredFinanceCostsGross_lbl" xml:lang="en-US">Capitalized debt issuance costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DeferredFinanceCostsGross_lbl" xml:lang="en-US">Debt issuance costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtInstrumentCarryingAmount" xlink:label="us-gaap_DebtInstrumentCarryingAmount" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentCarryingAmount" xlink:to="us-gaap_DebtInstrumentCarryingAmount_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentCarryingAmount_lbl" xml:lang="en-US">Long-term Debt, Gross</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_DebtInstrumentCarryingAmount_lbl" xml:lang="en-US">Convertible senior notes,net carrying amount,ending balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_DebtInstrumentCarryingAmount_lbl" xml:lang="en-US">Convertible senior notes,net carrying amount,beginning balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentCarryingAmount_lbl" xml:lang="en-US">Principal Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DebtInstrumentCarryingAmount_lbl" xml:lang="en-US">Debt instrument, principal outstanding</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ExtinguishmentOfDebtAmount" xlink:label="us-gaap_ExtinguishmentOfDebtAmount" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ExtinguishmentOfDebtAmount" xlink:to="us-gaap_ExtinguishmentOfDebtAmount_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ExtinguishmentOfDebtAmount_lbl" xml:lang="en-US">Extinguishment of debt, amount</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_DebtInstrumentsTenderOfferPrice" xlink:label="ndaq_DebtInstrumentsTenderOfferPrice" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_DebtInstrumentsTenderOfferPrice" xlink:to="ndaq_DebtInstrumentsTenderOfferPrice_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_DebtInstrumentsTenderOfferPrice_lbl" xml:lang="en-US">Debt Instruments, Tender Offer Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_DebtInstrumentsTenderOfferPrice_lbl" xml:lang="en-US">Debt Instruments, Tender Offer Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_DebtInstrumentsTenderOfferPrice_lbl" xml:lang="en-US">Convertible notes, tender offer price</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_ConvertibleNotesPrincipalAmountTendered" xlink:label="ndaq_ConvertibleNotesPrincipalAmountTendered" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_ConvertibleNotesPrincipalAmountTendered" xlink:to="ndaq_ConvertibleNotesPrincipalAmountTendered_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_ConvertibleNotesPrincipalAmountTendered_lbl" xml:lang="en-US">Convertible Notes Principal Amount Tendered</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_ConvertibleNotesPrincipalAmountTendered_lbl" xml:lang="en-US">Convertible Notes Principal Amount Tendered</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_ConvertibleNotesPrincipalAmountTendered_lbl" xml:lang="en-US">Convertible notes, principal amount tendered</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_PercentageOfPrincipalAmountOfDebtInstrumentHolderEligibleForTenderOffer" xlink:label="ndaq_PercentageOfPrincipalAmountOfDebtInstrumentHolderEligibleForTenderOffer" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_PercentageOfPrincipalAmountOfDebtInstrumentHolderEligibleForTenderOffer" xlink:to="ndaq_PercentageOfPrincipalAmountOfDebtInstrumentHolderEligibleForTenderOffer_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_PercentageOfPrincipalAmountOfDebtInstrumentHolderEligibleForTenderOffer_lbl" xml:lang="en-US">Percentage Of Aggregate Principal Amount of Outstanding 2013 Notes Tendered.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_PercentageOfPrincipalAmountOfDebtInstrumentHolderEligibleForTenderOffer_lbl" xml:lang="en-US">Percentage Of Principal Amount Of Debt Instrument Holder Eligible For Tender Offer</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_PercentageOfPrincipalAmountOfDebtInstrumentHolderEligibleForTenderOffer_lbl" xml:lang="en-US">Percentage of principal amount of debt instrument holder eligible for tender offer</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_WriteOffOfDebtDiscount" xlink:label="ndaq_WriteOffOfDebtDiscount" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_WriteOffOfDebtDiscount" xlink:to="ndaq_WriteOffOfDebtDiscount_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_WriteOffOfDebtDiscount_lbl" xml:lang="en-US">Write-off of unamortized debt discount cost in an extinguishment of debt.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_WriteOffOfDebtDiscount_lbl" xml:lang="en-US">Write Off Of Debt Discount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_WriteOffOfDebtDiscount_lbl" xml:lang="en-US">Write-off of the associated unamortized debt discount</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_FundamentalChangeRequirementPurchasePercentageOfPrincipalAmountOfNotes" xlink:label="ndaq_FundamentalChangeRequirementPurchasePercentageOfPrincipalAmountOfNotes" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_FundamentalChangeRequirementPurchasePercentageOfPrincipalAmountOfNotes" xlink:to="ndaq_FundamentalChangeRequirementPurchasePercentageOfPrincipalAmountOfNotes_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_FundamentalChangeRequirementPurchasePercentageOfPrincipalAmountOfNotes_lbl" xml:lang="en-US">Fundamental change requirement purchase percentage of principal amount of notes.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_FundamentalChangeRequirementPurchasePercentageOfPrincipalAmountOfNotes_lbl" xml:lang="en-US">Fundamental Change Requirement Purchase Percentage Of Principal Amount Of Notes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_FundamentalChangeRequirementPurchasePercentageOfPrincipalAmountOfNotes_lbl" xml:lang="en-US">Percentage of principal amount of notes purchased if fundamental change is applied, maximum</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LineOfCreditFacilityAmountOutstanding" xlink:label="us-gaap_LineOfCreditFacilityAmountOutstanding" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityAmountOutstanding" xlink:to="us-gaap_LineOfCreditFacilityAmountOutstanding_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityAmountOutstanding_lbl" xml:lang="en-US">Line of Credit Facility, Amount Outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="us-gaap_LineOfCreditFacilityAmountOutstanding_lbl" xml:lang="en-US">Revolving credit commitment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LineOfCreditFacilityAmountOutstanding_lbl" xml:lang="en-US">Total Credit Facility</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LineOfCreditFacilityAmountOutstanding_lbl" xml:lang="en-US">Outstanding term loans amount</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsSoldUnderAgreementsToRepurchaseAxis" xlink:label="us-gaap_AssetsSoldUnderAgreementsToRepurchaseAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsSoldUnderAgreementsToRepurchaseAxis" xlink:to="us-gaap_AssetsSoldUnderAgreementsToRepurchaseAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsSoldUnderAgreementsToRepurchaseAxis_lbl" xml:lang="en-US">Assets Sold under Agreements to Repurchase [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsSoldUnderAgreementsToRepurchaseTypeDomain" xlink:label="us-gaap_AssetsSoldUnderAgreementsToRepurchaseTypeDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsSoldUnderAgreementsToRepurchaseTypeDomain" xlink:to="us-gaap_AssetsSoldUnderAgreementsToRepurchaseTypeDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsSoldUnderAgreementsToRepurchaseTypeDomain_lbl" xml:lang="en-US">Assets Sold Under Agreements To Repurchase Type [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AssetsSoldUnderAgreementsToRepurchaseTypeDomain_lbl" xml:lang="en-US">Assets Sold under Agreements to Repurchase, Type [Domain]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_SeniorUnsecuredBridgeFacilityMember" xlink:label="ndaq_SeniorUnsecuredBridgeFacilityMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_SeniorUnsecuredBridgeFacilityMember" xlink:to="ndaq_SeniorUnsecuredBridgeFacilityMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_SeniorUnsecuredBridgeFacilityMember_lbl" xml:lang="en-US">Senior Unsecured Bridge Facility [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_SeniorUnsecuredBridgeFacilityMember_lbl" xml:lang="en-US">Senior Unsecured Bridge Facility [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_SeniorUnsecuredBridgeFacilityMember_lbl" xml:lang="en-US">Senior Unsecured Bridge Facility [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_FivePointTwoFivePercentSeniorUnsecuredNotesMember" xlink:label="ndaq_FivePointTwoFivePercentSeniorUnsecuredNotesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_FivePointTwoFivePercentSeniorUnsecuredNotesMember" xlink:to="ndaq_FivePointTwoFivePercentSeniorUnsecuredNotesMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_FivePointTwoFivePercentSeniorUnsecuredNotesMember_lbl" xml:lang="en-US">Five Point Two Five Percent Senior Unsecured Notes [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_FivePointTwoFivePercentSeniorUnsecuredNotesMember_lbl" xml:lang="en-US">Five Point Two Five Percent Senior Unsecured Notes [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_FivePointTwoFivePercentSeniorUnsecuredNotesMember_lbl" xml:lang="en-US">5.25% Senior Unsecured Notes [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NotesIssued1" xlink:label="us-gaap_NotesIssued1" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotesIssued1" xlink:to="us-gaap_NotesIssued1_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NotesIssued1_lbl" xml:lang="en-US">Notes Issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NotesIssued1_lbl" xml:lang="en-US">Senior unsecured notes issued</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BridgeLoan" xlink:label="us-gaap_BridgeLoan" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BridgeLoan" xlink:to="us-gaap_BridgeLoan_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BridgeLoan_lbl" xml:lang="en-US">Bridge Loan</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BridgeLoan_lbl" xml:lang="en-US">Bridge facility</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:label="us-gaap_DebtInstrumentInterestRateEffectivePercentage" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:to="us-gaap_DebtInstrumentInterestRateEffectivePercentage_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentInterestRateEffectivePercentage_lbl" xml:lang="en-US">Debt Instrument, Interest Rate, Effective Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentInterestRateEffectivePercentage_lbl" xml:lang="en-US">Debt instrument, interest rate, effective percentage</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromUnsecuredNotesPayable" xlink:label="us-gaap_ProceedsFromUnsecuredNotesPayable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromUnsecuredNotesPayable" xlink:to="us-gaap_ProceedsFromUnsecuredNotesPayable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromUnsecuredNotesPayable_lbl" xml:lang="en-US">Proceeds from unsecured notes payable</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_CashOnHandFromUnsecuredNotesPayable" xlink:label="ndaq_CashOnHandFromUnsecuredNotesPayable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_CashOnHandFromUnsecuredNotesPayable" xlink:to="ndaq_CashOnHandFromUnsecuredNotesPayable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_CashOnHandFromUnsecuredNotesPayable_lbl" xml:lang="en-US">Cash on hand used to repay bridge facility.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_CashOnHandFromUnsecuredNotesPayable_lbl" xml:lang="en-US">Cash on Hand from Unsecured Notes Payable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_CashOnHandFromUnsecuredNotesPayable_lbl" xml:lang="en-US">Cash on hand from unsecured notes payable</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_MaximumInterestRateOnDebtInstrument" xlink:label="ndaq_MaximumInterestRateOnDebtInstrument" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_MaximumInterestRateOnDebtInstrument" xlink:to="ndaq_MaximumInterestRateOnDebtInstrument_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_MaximumInterestRateOnDebtInstrument_lbl" xml:lang="en-US">Maximum Interest Rate on Debt Instrument</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_MaximumInterestRateOnDebtInstrument_lbl" xml:lang="en-US">Maximum Interest Rate on Debt Instrument</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_MaximumInterestRateOnDebtInstrument_lbl" xml:lang="en-US">Maximum interest rate on debt instrument</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherBorrowings" xlink:label="us-gaap_OtherBorrowings" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherBorrowings" xlink:to="us-gaap_OtherBorrowings_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherBorrowings_lbl" xml:lang="en-US">Other Borrowings</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherBorrowings_lbl" xml:lang="en-US">Other borrowings</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_AggregatePrincipalAmountPurchasedPlusAccruedAndUnpaidInterest" xlink:label="ndaq_AggregatePrincipalAmountPurchasedPlusAccruedAndUnpaidInterest" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_AggregatePrincipalAmountPurchasedPlusAccruedAndUnpaidInterest" xlink:to="ndaq_AggregatePrincipalAmountPurchasedPlusAccruedAndUnpaidInterest_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_AggregatePrincipalAmountPurchasedPlusAccruedAndUnpaidInterest_lbl" xml:lang="en-US">Aggregate principal amount purchased plus accrued and unpaid interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_AggregatePrincipalAmountPurchasedPlusAccruedAndUnpaidInterest_lbl" xml:lang="en-US">Aggregate principal amount purchased plus accrued and unpaid interest</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RepaymentsOfLinesOfCredit" xlink:label="us-gaap_RepaymentsOfLinesOfCredit" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfLinesOfCredit" xlink:to="us-gaap_RepaymentsOfLinesOfCredit_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RepaymentsOfLinesOfCredit_lbl" xml:lang="en-US">Repayments of Lines of Credit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RepaymentsOfLinesOfCredit_lbl" xml:lang="en-US">Prepayment of revolving credit commitment</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_SeniorUnsecuredNotesMember" xlink:label="ndaq_SeniorUnsecuredNotesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_SeniorUnsecuredNotesMember" xlink:to="ndaq_SeniorUnsecuredNotesMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_SeniorUnsecuredNotesMember_lbl" xml:lang="en-US">Senior Unsecured Notes [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_SeniorUnsecuredNotesMember_lbl" xml:lang="en-US">Senior Unsecured Notes [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_SeniorUnsecuredNotesMember_lbl" xml:lang="en-US">Senior Unsecured Notes [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_TrancheTermLoanMember" xlink:label="ndaq_TrancheTermLoanMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_TrancheTermLoanMember" xlink:to="ndaq_TrancheTermLoanMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_TrancheTermLoanMember_lbl" xml:lang="en-US">Tranche A Term Loan [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_TrancheTermLoanMember_lbl" xml:lang="en-US">Tranche Term Loan [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_TrancheTermLoanMember_lbl" xml:lang="en-US">Tranche A Term Loan [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_TrancheXTermLoanMember" xlink:label="ndaq_TrancheXTermLoanMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_TrancheXTermLoanMember" xlink:to="ndaq_TrancheXTermLoanMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_TrancheXTermLoanMember_lbl" xml:lang="en-US">Tranche X Term Loan [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_TrancheXTermLoanMember_lbl" xml:lang="en-US">Tranche X Term Loan [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_TrancheXTermLoanMember_lbl" xml:lang="en-US">Tranche X Term Loan [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_QuarterlyPaymentsMember" xlink:label="ndaq_QuarterlyPaymentsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_QuarterlyPaymentsMember" xlink:to="ndaq_QuarterlyPaymentsMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_QuarterlyPaymentsMember_lbl" xml:lang="en-US">Quarterly Payments [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_QuarterlyPaymentsMember_lbl" xml:lang="en-US">Quarterly Payments [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_QuarterlyPaymentsMember_lbl" xml:lang="en-US">Quarterly Payments [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_OptionalPaymentsMember" xlink:label="ndaq_OptionalPaymentsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_OptionalPaymentsMember" xlink:to="ndaq_OptionalPaymentsMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_OptionalPaymentsMember_lbl" xml:lang="en-US">Optional Payments [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_OptionalPaymentsMember_lbl" xml:lang="en-US">Optional Payments [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_OptionalPaymentsMember_lbl" xml:lang="en-US">Optional Payments [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_TwoThousandSixteenTermLoanMember" xlink:label="ndaq_TwoThousandSixteenTermLoanMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_TwoThousandSixteenTermLoanMember" xlink:to="ndaq_TwoThousandSixteenTermLoanMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_TwoThousandSixteenTermLoanMember_lbl" xml:lang="en-US">Two Thousand Sixteen Term Loan [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_TwoThousandSixteenTermLoanMember_lbl" xml:lang="en-US">Two Thousand Sixteen Term Loan [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_TwoThousandSixteenTermLoanMember_lbl" xml:lang="en-US">2016 Term Loan [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_FourPointZeroZeroPercentSeniorNotesDueTwoThousandFifteenMember" xlink:label="ndaq_FourPointZeroZeroPercentSeniorNotesDueTwoThousandFifteenMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_FourPointZeroZeroPercentSeniorNotesDueTwoThousandFifteenMember" xlink:to="ndaq_FourPointZeroZeroPercentSeniorNotesDueTwoThousandFifteenMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_FourPointZeroZeroPercentSeniorNotesDueTwoThousandFifteenMember_lbl" xml:lang="en-US">Four Point Zero Zero Percent Senior Notes Due Two Thousand Fifteen [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_FourPointZeroZeroPercentSeniorNotesDueTwoThousandFifteenMember_lbl" xml:lang="en-US">Four Point Zero Zero Percent Senior Notes Due Two Thousand Fifteen [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_FourPointZeroZeroPercentSeniorNotesDueTwoThousandFifteenMember_lbl" xml:lang="en-US">4.00% Senior Notes Due 2015 [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_FivePointFiveFivePercentSeniorNotesDueTwoThousandTwentyMember" xlink:label="ndaq_FivePointFiveFivePercentSeniorNotesDueTwoThousandTwentyMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_FivePointFiveFivePercentSeniorNotesDueTwoThousandTwentyMember" xlink:to="ndaq_FivePointFiveFivePercentSeniorNotesDueTwoThousandTwentyMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_FivePointFiveFivePercentSeniorNotesDueTwoThousandTwentyMember_lbl" xml:lang="en-US">Five Point Five Five Percent Senior Notes Due Two Thousand Twenty [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_FivePointFiveFivePercentSeniorNotesDueTwoThousandTwentyMember_lbl" xml:lang="en-US">Five Point Five Five Percent Senior Notes Due Two Thousand Twenty [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_FivePointFiveFivePercentSeniorNotesDueTwoThousandTwentyMember_lbl" xml:lang="en-US">5.55% Senior Notes Due 2020 [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_ClearinghouseCreditFacilitiesMember" xlink:label="ndaq_ClearinghouseCreditFacilitiesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_ClearinghouseCreditFacilitiesMember" xlink:to="ndaq_ClearinghouseCreditFacilitiesMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_ClearinghouseCreditFacilitiesMember_lbl" xml:lang="en-US">Clearinghouse Credit Facilities [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_ClearinghouseCreditFacilitiesMember_lbl" xml:lang="en-US">Clearinghouse Credit Facilities [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_ClearinghouseCreditFacilitiesMember_lbl" xml:lang="en-US">Clearinghouse Credit Facilities [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_TwoThousandElevenCreditFacilityMember" xlink:label="ndaq_TwoThousandElevenCreditFacilityMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_TwoThousandElevenCreditFacilityMember" xlink:to="ndaq_TwoThousandElevenCreditFacilityMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_TwoThousandElevenCreditFacilityMember_lbl" xml:lang="en-US">Two Thousand Eleven Credit Facility [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_TwoThousandElevenCreditFacilityMember_lbl" xml:lang="en-US">Two Thousand Eleven Credit Facility [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_TwoThousandElevenCreditFacilityMember_lbl" xml:lang="en-US">2011 Credit Facility [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_TwoThousandTenCreditFacilityMember" xlink:label="ndaq_TwoThousandTenCreditFacilityMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_TwoThousandTenCreditFacilityMember" xlink:to="ndaq_TwoThousandTenCreditFacilityMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_TwoThousandTenCreditFacilityMember_lbl" xml:lang="en-US">Two Thousand Ten Credit Facility [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_TwoThousandTenCreditFacilityMember_lbl" xml:lang="en-US">Two Thousand Ten Credit Facility [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_TwoThousandTenCreditFacilityMember_lbl" xml:lang="en-US">2010 Credit Facility [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_TermLoansQuarterlyPayment" xlink:label="ndaq_TermLoansQuarterlyPayment" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_TermLoansQuarterlyPayment" xlink:to="ndaq_TermLoansQuarterlyPayment_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_TermLoansQuarterlyPayment_lbl" xml:lang="en-US">Term Loans Quarterly Payment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_TermLoansQuarterlyPayment_lbl" xml:lang="en-US">Term Loans Quarterly Payment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_TermLoansQuarterlyPayment_lbl" xml:lang="en-US">Term loans quarterly payment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ndaq_TermLoansQuarterlyPayment_lbl" xml:lang="en-US">Term loans quarterly payment</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_TermLoansOptionalPayment" xlink:label="ndaq_TermLoansOptionalPayment" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_TermLoansOptionalPayment" xlink:to="ndaq_TermLoansOptionalPayment_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_TermLoansOptionalPayment_lbl" xml:lang="en-US">Term Loans, Optional Payment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_TermLoansOptionalPayment_lbl" xml:lang="en-US">Term loans, optional payment</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LineOfCreditFacilityIncreaseAdditionalBorrowings" xlink:label="us-gaap_LineOfCreditFacilityIncreaseAdditionalBorrowings" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityIncreaseAdditionalBorrowings" xlink:to="us-gaap_LineOfCreditFacilityIncreaseAdditionalBorrowings_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityIncreaseAdditionalBorrowings_lbl" xml:lang="en-US">Line of Credit Facility, Increase, Additional Borrowings</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LineOfCreditFacilityIncreaseAdditionalBorrowings_lbl" xml:lang="en-US">Credit facility, additional borrowings</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:to="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" xml:lang="en-US">Line of Credit Facility, Maximum Borrowing Capacity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" xml:lang="en-US">Credit facility, borrowing capacity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" xml:lang="en-US">Credit facilities, total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity" xlink:label="us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity" xlink:to="us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_lbl" xml:lang="en-US">Line of Credit Facility, Remaining Borrowing Capacity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_lbl" xml:lang="en-US">Credit facility, remaining capacity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_lbl" xml:lang="en-US">Credit facility, available capacity</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromIssuanceOfDebt" xlink:label="us-gaap_ProceedsFromIssuanceOfDebt" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfDebt" xlink:to="us-gaap_ProceedsFromIssuanceOfDebt_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromIssuanceOfDebt_lbl" xml:lang="en-US">Proceeds from Issuance of Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromIssuanceOfDebt_lbl" xml:lang="en-US">Proceed from term loan</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_DebtInstrumentQuarterlyPrincipalRepaymentPercentage" xlink:label="ndaq_DebtInstrumentQuarterlyPrincipalRepaymentPercentage" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_DebtInstrumentQuarterlyPrincipalRepaymentPercentage" xlink:to="ndaq_DebtInstrumentQuarterlyPrincipalRepaymentPercentage_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_DebtInstrumentQuarterlyPrincipalRepaymentPercentage_lbl" xml:lang="en-US">Debt Instrument Quarterly Principal Repayment Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_DebtInstrumentQuarterlyPrincipalRepaymentPercentage_lbl" xml:lang="en-US">Debt Instrument Quarterly Principal Repayment Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_DebtInstrumentQuarterlyPrincipalRepaymentPercentage_lbl" xml:lang="en-US">Quarterly principal repayment percentage</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:label="us-gaap_DebtInstrumentFaceAmount" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentFaceAmount" xlink:to="us-gaap_DebtInstrumentFaceAmount_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl" xml:lang="en-US">Debt Instrument, face amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl" xml:lang="en-US">Debt instrument, face amount</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestExpenseSubordinatedNotesAndDebentures" xlink:label="us-gaap_InterestExpenseSubordinatedNotesAndDebentures" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpenseSubordinatedNotesAndDebentures" xlink:to="us-gaap_InterestExpenseSubordinatedNotesAndDebentures_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestExpenseSubordinatedNotesAndDebentures_lbl" xml:lang="en-US">Interest Expense, Subordinated Notes and Debentures</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_InterestExpenseSubordinatedNotesAndDebentures_lbl" xml:lang="en-US">Debt conversion expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InterestExpenseSubordinatedNotesAndDebentures_lbl" xml:lang="en-US">Amortization expenses recorded as additional interest expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_InterestExpenseSubordinatedNotesAndDebentures_lbl" xml:lang="en-US">Amortization of debt issuance costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity" xlink:label="us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity" xlink:to="us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_lbl" xml:lang="en-US">Line of Credit Facility, Current Borrowing Capacity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_lbl" xml:lang="en-US">Line of credit facility, available liquidity</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_CreditFacilitySatisfyRegulatoryRequirements" xlink:label="ndaq_CreditFacilitySatisfyRegulatoryRequirements" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_CreditFacilitySatisfyRegulatoryRequirements" xlink:to="ndaq_CreditFacilitySatisfyRegulatoryRequirements_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_CreditFacilitySatisfyRegulatoryRequirements_lbl" xml:lang="en-US">Credit Facility Satisfy Regulatory Requirements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_CreditFacilitySatisfyRegulatoryRequirements_lbl" xml:lang="en-US">Credit facility satisfy regulatory requirements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_CreditFacilitySatisfyRegulatoryRequirements_lbl" xml:lang="en-US">Credit facility, regulatory requirements amount</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_CashOnHandUsed" xlink:label="ndaq_CashOnHandUsed" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_CashOnHandUsed" xlink:to="ndaq_CashOnHandUsed_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_CashOnHandUsed_lbl" xml:lang="en-US">Cash On Hand Used</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_CashOnHandUsed_lbl" xml:lang="en-US">Cash On Hand Used</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_CashOnHandUsed_lbl" xml:lang="en-US">Cash on hand used</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtConversionTable" xlink:label="us-gaap_DebtConversionTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtConversionTable" xlink:to="us-gaap_DebtConversionTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtConversionTable_lbl" xml:lang="en-US">Debt Conversion [Table]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_ThreePointSevenFivePercentConvertibleNotesDueOctoberTwentyTwoTwoThousandTwelveMember" xlink:label="ndaq_ThreePointSevenFivePercentConvertibleNotesDueOctoberTwentyTwoTwoThousandTwelveMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_ThreePointSevenFivePercentConvertibleNotesDueOctoberTwentyTwoTwoThousandTwelveMember" xlink:to="ndaq_ThreePointSevenFivePercentConvertibleNotesDueOctoberTwentyTwoTwoThousandTwelveMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_ThreePointSevenFivePercentConvertibleNotesDueOctoberTwentyTwoTwoThousandTwelveMember_lbl" xml:lang="en-US">Three Point Seven Five Percent Convertible Notes Due October Twenty Two Two Thousand Twelve [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_ThreePointSevenFivePercentConvertibleNotesDueOctoberTwentyTwoTwoThousandTwelveMember_lbl" xml:lang="en-US">Three Point Seven Five Percent Convertible Notes Due October Twenty Two Two Thousand Twelve [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_ThreePointSevenFivePercentConvertibleNotesDueOctoberTwentyTwoTwoThousandTwelveMember_lbl" xml:lang="en-US">3.75% Convertible Notes Due October 22, 2012 [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_FourPointZeroZeroPercentSeniorUnsecuredNotesDueJanuaryFifteenTwoThousandFifteenMember" xlink:label="ndaq_FourPointZeroZeroPercentSeniorUnsecuredNotesDueJanuaryFifteenTwoThousandFifteenMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_FourPointZeroZeroPercentSeniorUnsecuredNotesDueJanuaryFifteenTwoThousandFifteenMember" xlink:to="ndaq_FourPointZeroZeroPercentSeniorUnsecuredNotesDueJanuaryFifteenTwoThousandFifteenMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_FourPointZeroZeroPercentSeniorUnsecuredNotesDueJanuaryFifteenTwoThousandFifteenMember_lbl" xml:lang="en-US">Four Point Zero Zero Percent Senior Unsecured Notes Due January Fifteen Two Thousand Fifteen [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_FourPointZeroZeroPercentSeniorUnsecuredNotesDueJanuaryFifteenTwoThousandFifteenMember_lbl" xml:lang="en-US">Four Point Zero Zero Percent Senior Unsecured Notes Due January Fifteen Two Thousand Fifteen [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_FourPointZeroZeroPercentSeniorUnsecuredNotesDueJanuaryFifteenTwoThousandFifteenMember_lbl" xml:lang="en-US">4.00% Senior Unsecured Notes Due January 15, 2015 [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_FivePointFiveFivePercentSeniorUnsecuredNotesDueJanuaryFifteenTwoThousandTwentyMember" xlink:label="ndaq_FivePointFiveFivePercentSeniorUnsecuredNotesDueJanuaryFifteenTwoThousandTwentyMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_FivePointFiveFivePercentSeniorUnsecuredNotesDueJanuaryFifteenTwoThousandTwentyMember" xlink:to="ndaq_FivePointFiveFivePercentSeniorUnsecuredNotesDueJanuaryFifteenTwoThousandTwentyMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_FivePointFiveFivePercentSeniorUnsecuredNotesDueJanuaryFifteenTwoThousandTwentyMember_lbl" xml:lang="en-US">Five Point Five Five Percent Senior Unsecured Notes Due January Fifteen Two Thousand Twenty [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_FivePointFiveFivePercentSeniorUnsecuredNotesDueJanuaryFifteenTwoThousandTwentyMember_lbl" xml:lang="en-US">Five Point Five Five Percent Senior Unsecured Notes Due January Fifteen Two Thousand Twenty [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_FivePointFiveFivePercentSeniorUnsecuredNotesDueJanuaryFifteenTwoThousandTwentyMember_lbl" xml:lang="en-US">5.55% Senior Unsecured Notes Due January 15, 2020 [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_FivePointTwoFivePercentSeniorUnsecuredNotesDueJanuarySixteenTwoThousandEighteenMember" xlink:label="ndaq_FivePointTwoFivePercentSeniorUnsecuredNotesDueJanuarySixteenTwoThousandEighteenMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_FivePointTwoFivePercentSeniorUnsecuredNotesDueJanuarySixteenTwoThousandEighteenMember" xlink:to="ndaq_FivePointTwoFivePercentSeniorUnsecuredNotesDueJanuarySixteenTwoThousandEighteenMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_FivePointTwoFivePercentSeniorUnsecuredNotesDueJanuarySixteenTwoThousandEighteenMember_lbl" xml:lang="en-US">Five Point Two Five Percent Senior Unsecured Notes Due January Sixteen Two Thousand Eighteen [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_FivePointTwoFivePercentSeniorUnsecuredNotesDueJanuarySixteenTwoThousandEighteenMember_lbl" xml:lang="en-US">Five Point Two Five Percent Senior Unsecured Notes Due January Sixteen Two Thousand Eighteen [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_FivePointTwoFivePercentSeniorUnsecuredNotesDueJanuarySixteenTwoThousandEighteenMember_lbl" xml:lang="en-US">5.25% Senior Unsecured Notes Due January 16, 2018 [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_FourFiftyMillionDollarSeniorUnsecuredTermLoanFacilityCreditAgreementDueSeptemberNineteenTwoThousandSixteenMember" xlink:label="ndaq_FourFiftyMillionDollarSeniorUnsecuredTermLoanFacilityCreditAgreementDueSeptemberNineteenTwoThousandSixteenMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_FourFiftyMillionDollarSeniorUnsecuredTermLoanFacilityCreditAgreementDueSeptemberNineteenTwoThousandSixteenMember" xlink:to="ndaq_FourFiftyMillionDollarSeniorUnsecuredTermLoanFacilityCreditAgreementDueSeptemberNineteenTwoThousandSixteenMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_FourFiftyMillionDollarSeniorUnsecuredTermLoanFacilityCreditAgreementDueSeptemberNineteenTwoThousandSixteenMember_lbl" xml:lang="en-US">Four Fifty Million Dollar Senior Unsecured Term Loan Facility Credit Agreement Due September Nineteen Two thousand Sixteen [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_FourFiftyMillionDollarSeniorUnsecuredTermLoanFacilityCreditAgreementDueSeptemberNineteenTwoThousandSixteenMember_lbl" xml:lang="en-US">Four Fifty Million Dollar Senior Unsecured Term Loan Facility Credit Agreement Due September Nineteen Two Thousand Sixteen [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_FourFiftyMillionDollarSeniorUnsecuredTermLoanFacilityCreditAgreementDueSeptemberNineteenTwoThousandSixteenMember_lbl" xml:lang="en-US">$450 Million Senior Unsecured Term Loan Facility Credit Agreement Due September 19, 2016 [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_SevenHundredAndFiftyMillionDollarRevolvingCreditCommitmentDueSeptemberNineteenTwoThousandSixteenMember" xlink:label="ndaq_SevenHundredAndFiftyMillionDollarRevolvingCreditCommitmentDueSeptemberNineteenTwoThousandSixteenMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_SevenHundredAndFiftyMillionDollarRevolvingCreditCommitmentDueSeptemberNineteenTwoThousandSixteenMember" xlink:to="ndaq_SevenHundredAndFiftyMillionDollarRevolvingCreditCommitmentDueSeptemberNineteenTwoThousandSixteenMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_SevenHundredAndFiftyMillionDollarRevolvingCreditCommitmentDueSeptemberNineteenTwoThousandSixteenMember_lbl" xml:lang="en-US">Seven Hundred And Fifty Million Dollar Revolving Credit Commitment Due September Nineteen Two Thousand Sixteen [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_SevenHundredAndFiftyMillionDollarRevolvingCreditCommitmentDueSeptemberNineteenTwoThousandSixteenMember_lbl" xml:lang="en-US">Seven Hundred And Fifty Million Dollar Revolving Credit Commitment Due September Nineteen Two Thousand Sixteen [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_SevenHundredAndFiftyMillionDollarRevolvingCreditCommitmentDueSeptemberNineteenTwoThousandSixteenMember_lbl" xml:lang="en-US">$750 Million Revolving Credit Commitment Due September 19, 2016 [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_SevenHundredMillionDollarSeniorUnsecuredTermLoanFacilityCreditAgreementDueSeptemberNineteenTwoThousandElevenMember" xlink:label="ndaq_SevenHundredMillionDollarSeniorUnsecuredTermLoanFacilityCreditAgreementDueSeptemberNineteenTwoThousandElevenMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_SevenHundredMillionDollarSeniorUnsecuredTermLoanFacilityCreditAgreementDueSeptemberNineteenTwoThousandElevenMember" xlink:to="ndaq_SevenHundredMillionDollarSeniorUnsecuredTermLoanFacilityCreditAgreementDueSeptemberNineteenTwoThousandElevenMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_SevenHundredMillionDollarSeniorUnsecuredTermLoanFacilityCreditAgreementDueSeptemberNineteenTwoThousandElevenMember_lbl" xml:lang="en-US">Seven Hundred Million Dollar Senior Unsecured Term Loan Facility Credit Agreement Due September Nineteen Two Thousand Eleven [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_SevenHundredMillionDollarSeniorUnsecuredTermLoanFacilityCreditAgreementDueSeptemberNineteenTwoThousandElevenMember_lbl" xml:lang="en-US">Seven Hundred Million Dollar Senior Unsecured Term Loan Facility Credit Agreement Due September Nineteen Two Thousand Eleven [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_SevenHundredMillionDollarSeniorUnsecuredTermLoanFacilityCreditAgreementDueSeptemberNineteenTwoThousandElevenMember_lbl" xml:lang="en-US">$700 Million Senior Unsecured Term Loan Facility Credit Agreement Due September 19, 2011 [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LongTermDebt" xlink:label="us-gaap_LongTermDebt" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebt" xlink:to="us-gaap_LongTermDebt_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebt_lbl" xml:lang="en-US">Long-term Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_LongTermDebt_lbl" xml:lang="en-US">Total debt obligations ending balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_LongTermDebt_lbl" xml:lang="en-US">Total debt obligations beginning balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongTermDebt_lbl" xml:lang="en-US">Debt obligations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LongTermDebt_lbl" xml:lang="en-US">Total debt obligations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LongTermDebt_lbl" xml:lang="en-US">Net Carrying Amount</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_LongTermDebtObligationsAdditions" xlink:label="ndaq_LongTermDebtObligationsAdditions" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_LongTermDebtObligationsAdditions" xlink:to="ndaq_LongTermDebtObligationsAdditions_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_LongTermDebtObligationsAdditions_lbl" xml:lang="en-US">Long Term Debt Obligations Additions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_LongTermDebtObligationsAdditions_lbl" xml:lang="en-US">Long Term Debt Obligations Additions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_LongTermDebtObligationsAdditions_lbl" xml:lang="en-US">Total debt obligations, Additions</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_TotalLongTermDebtObligationsAdditions" xlink:label="ndaq_TotalLongTermDebtObligationsAdditions" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_TotalLongTermDebtObligationsAdditions" xlink:to="ndaq_TotalLongTermDebtObligationsAdditions_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_TotalLongTermDebtObligationsAdditions_lbl" xml:lang="en-US">Total Long Term Debt Obligations Additions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_TotalLongTermDebtObligationsAdditions_lbl" xml:lang="en-US">Total Long Term Debt Obligations Additions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_TotalLongTermDebtObligationsAdditions_lbl" xml:lang="en-US">Total long-term debt obligations, Additions</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_LessCurrentPortionAdditions" xlink:label="ndaq_LessCurrentPortionAdditions" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_LessCurrentPortionAdditions" xlink:to="ndaq_LessCurrentPortionAdditions_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_LessCurrentPortionAdditions_lbl" xml:lang="en-US">Less Current Portion Additions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_LessCurrentPortionAdditions_lbl" xml:lang="en-US">Less Current Portion Additions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ndaq_LessCurrentPortionAdditions_lbl" xml:lang="en-US">Less current portion, Additions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_LessCurrentPortionAdditions_lbl" xml:lang="en-US">Less current portion, Additions</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_LessCurrentPortionPaymentsConversionAccretionAndOther" xlink:label="ndaq_LessCurrentPortionPaymentsConversionAccretionAndOther" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_LessCurrentPortionPaymentsConversionAccretionAndOther" xlink:to="ndaq_LessCurrentPortionPaymentsConversionAccretionAndOther_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_LessCurrentPortionPaymentsConversionAccretionAndOther_lbl" xml:lang="en-US">Less Current Portion Payments Conversion Accretion And Other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_LessCurrentPortionPaymentsConversionAccretionAndOther_lbl" xml:lang="en-US">Less Current Portion Payments Conversion Accretion And Other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ndaq_LessCurrentPortionPaymentsConversionAccretionAndOther_lbl" xml:lang="en-US">Less current portion Payments, Conversion, Accretion and Other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_LessCurrentPortionPaymentsConversionAccretionAndOther_lbl" xml:lang="en-US">Less current portion Payments, Conversion, Accretion and Other</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_UnsecuredDebt" xlink:label="us-gaap_UnsecuredDebt" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnsecuredDebt" xlink:to="us-gaap_UnsecuredDebt_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UnsecuredDebt_lbl" xml:lang="en-US">Unsecured debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_UnsecuredDebt_lbl" xml:lang="en-US">Unsecured Debt, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtInstrumentIncreaseAdditionalBorrowings" xlink:label="us-gaap_DebtInstrumentIncreaseAdditionalBorrowings" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentIncreaseAdditionalBorrowings" xlink:to="us-gaap_DebtInstrumentIncreaseAdditionalBorrowings_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentIncreaseAdditionalBorrowings_lbl" xml:lang="en-US">Debt Instrument, Increase, Additional Borrowings</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DebtInstrumentIncreaseAdditionalBorrowings_lbl" xml:lang="en-US">Debt instrument, increase, additional borrowings</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtInstrumentDecreaseRepayments" xlink:label="us-gaap_DebtInstrumentDecreaseRepayments" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentDecreaseRepayments" xlink:to="us-gaap_DebtInstrumentDecreaseRepayments_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentDecreaseRepayments_lbl" xml:lang="en-US">Debt Instrument, Decrease, Repayments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_DebtInstrumentDecreaseRepayments_lbl" xml:lang="en-US">Payments, conversions, accretion and other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentDecreaseRepayments_lbl" xml:lang="en-US">Payments, Conversions, Accretion and Other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DebtInstrumentDecreaseRepayments_lbl" xml:lang="en-US">Cash payment to affiliates</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_LongTermDebtObligationsPaymentsConversionsAccretionAndOther" xlink:label="ndaq_LongTermDebtObligationsPaymentsConversionsAccretionAndOther" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_LongTermDebtObligationsPaymentsConversionsAccretionAndOther" xlink:to="ndaq_LongTermDebtObligationsPaymentsConversionsAccretionAndOther_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_LongTermDebtObligationsPaymentsConversionsAccretionAndOther_lbl" xml:lang="en-US">Long term debt obligations payments, conversions accretion and other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_LongTermDebtObligationsPaymentsConversionsAccretionAndOther_lbl" xml:lang="en-US">Long term debt obligations payments, conversions accretion and other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ndaq_LongTermDebtObligationsPaymentsConversionsAccretionAndOther_lbl" xml:lang="en-US">Total debt obligations, payments, conversions, accretion and other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_LongTermDebtObligationsPaymentsConversionsAccretionAndOther_lbl" xml:lang="en-US">Total debt obligations, Payments, Conversions, Accretion and Other</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_TotalLongTermDebtObligationsPaymentsConversionsAccretionAndOther" xlink:label="ndaq_TotalLongTermDebtObligationsPaymentsConversionsAccretionAndOther" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_TotalLongTermDebtObligationsPaymentsConversionsAccretionAndOther" xlink:to="ndaq_TotalLongTermDebtObligationsPaymentsConversionsAccretionAndOther_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_TotalLongTermDebtObligationsPaymentsConversionsAccretionAndOther_lbl" xml:lang="en-US">Total long-term debt obligations, payments, conversions, accretion and other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_TotalLongTermDebtObligationsPaymentsConversionsAccretionAndOther_lbl" xml:lang="en-US">Total long-term debt obligations, payments, conversions, accretion and other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ndaq_TotalLongTermDebtObligationsPaymentsConversionsAccretionAndOther_lbl" xml:lang="en-US">Total long-term debt obligations, payments, conversions, accretion and other</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:label="us-gaap_DebtInstrumentTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentTable" xlink:to="us-gaap_DebtInstrumentTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentTable_lbl" xml:lang="en-US">Schedule of Long-term Debt Instruments [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtSecurityAxis" xlink:label="us-gaap_DebtSecurityAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtSecurityAxis" xlink:to="us-gaap_DebtSecurityAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtSecurityAxis_lbl" xml:lang="en-US">Debt Security [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_MajorTypesOfDebtSecuritiesDomain" xlink:label="us-gaap_MajorTypesOfDebtSecuritiesDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MajorTypesOfDebtSecuritiesDomain" xlink:to="us-gaap_MajorTypesOfDebtSecuritiesDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MajorTypesOfDebtSecuritiesDomain_lbl" xml:lang="en-US">Major Types Of Debt Securities [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MajorTypesOfDebtSecuritiesDomain_lbl" xml:lang="en-US">Major Types of Debt Securities [Domain]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_DebtTenderOfferMember" xlink:label="ndaq_DebtTenderOfferMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_DebtTenderOfferMember" xlink:to="ndaq_DebtTenderOfferMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_DebtTenderOfferMember_lbl" xml:lang="en-US">Debt Tender Offer [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_DebtTenderOfferMember_lbl" xml:lang="en-US">Debt Tender Offer [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_DebtTenderOfferMember_lbl" xml:lang="en-US">Debt Tender Offer [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_AccretionOfDebtDiscountUnamortizedDebtDiscount" xlink:label="ndaq_AccretionOfDebtDiscountUnamortizedDebtDiscount" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_AccretionOfDebtDiscountUnamortizedDebtDiscount" xlink:to="ndaq_AccretionOfDebtDiscountUnamortizedDebtDiscount_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_AccretionOfDebtDiscountUnamortizedDebtDiscount_lbl" xml:lang="en-US">Accretion of debt discount, unamortized debt discount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_AccretionOfDebtDiscountUnamortizedDebtDiscount_lbl" xml:lang="en-US">Accretion of Debt Discount, Unamortized Debt Discount</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_AccretionOfDebtDiscountNetCarryingAmount" xlink:label="ndaq_AccretionOfDebtDiscountNetCarryingAmount" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_AccretionOfDebtDiscountNetCarryingAmount" xlink:to="ndaq_AccretionOfDebtDiscountNetCarryingAmount_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_AccretionOfDebtDiscountNetCarryingAmount_lbl" xml:lang="en-US">Accretion of debt discount, net carrying amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_AccretionOfDebtDiscountNetCarryingAmount_lbl" xml:lang="en-US">Accretion of Debt Discount, Net Carrying Amount</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxLiabilitiesFinancingArrangements" xlink:label="us-gaap_DeferredTaxLiabilitiesFinancingArrangements" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxLiabilitiesFinancingArrangements" xlink:to="us-gaap_DeferredTaxLiabilitiesFinancingArrangements_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxLiabilitiesFinancingArrangements_lbl" xml:lang="en-US">Deferred Tax Liabilities, Financing Arrangements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredTaxLiabilitiesFinancingArrangements_lbl" xml:lang="en-US">Deferred Taxes</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestExpenseDebt" xlink:label="us-gaap_InterestExpenseDebt" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpenseDebt" xlink:to="us-gaap_InterestExpenseDebt_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestExpenseDebt_lbl" xml:lang="en-US">Interest Expense, Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InterestExpenseDebt_lbl" xml:lang="en-US">Contractual interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_InterestExpenseDebt_lbl" xml:lang="en-US">Interest Expense, Debt, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtInstrumentConvertibleInterestExpense" xlink:label="us-gaap_DebtInstrumentConvertibleInterestExpense" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentConvertibleInterestExpense" xlink:to="us-gaap_DebtInstrumentConvertibleInterestExpense_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentConvertibleInterestExpense_lbl" xml:lang="en-US">Debt Instrument, Convertible, Interest Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DebtInstrumentConvertibleInterestExpense_lbl" xml:lang="en-US">Total interest expense recognized on the 2013 Convertible Notes</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingLossCarryforwardsTable" xlink:label="us-gaap_OperatingLossCarryforwardsTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLossCarryforwardsTable" xlink:to="us-gaap_OperatingLossCarryforwardsTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLossCarryforwardsTable_lbl" xml:lang="en-US">Operating Loss Carryforwards [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeTaxAuthorityAxis" xlink:label="us-gaap_IncomeTaxAuthorityAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxAuthorityAxis" xlink:to="us-gaap_IncomeTaxAuthorityAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxAuthorityAxis_lbl" xml:lang="en-US">Income Tax Authority [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeTaxAuthorityDomain" xlink:label="us-gaap_IncomeTaxAuthorityDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxAuthorityDomain" xlink:to="us-gaap_IncomeTaxAuthorityDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxAuthorityDomain_lbl" xml:lang="en-US">Income Tax Authority [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeTaxAuthorityDomain_lbl" xml:lang="en-US">Income Tax Authority [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ForeignCountryMember" xlink:label="us-gaap_ForeignCountryMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCountryMember" xlink:to="us-gaap_ForeignCountryMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ForeignCountryMember_lbl" xml:lang="en-US">Foreign Country [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ForeignCountryMember_lbl" xml:lang="en-US">Foreign [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StateAndLocalJurisdictionMember" xlink:label="us-gaap_StateAndLocalJurisdictionMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StateAndLocalJurisdictionMember" xlink:to="us-gaap_StateAndLocalJurisdictionMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StateAndLocalJurisdictionMember_lbl" xml:lang="en-US">State And Local Jurisdiction [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StateAndLocalJurisdictionMember_lbl" xml:lang="en-US">State And Local Jurisdiction [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_StateNetOperatingLossMember" xlink:label="ndaq_StateNetOperatingLossMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_StateNetOperatingLossMember" xlink:to="ndaq_StateNetOperatingLossMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_StateNetOperatingLossMember_lbl" xml:lang="en-US">State Net Operating Loss [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_StateNetOperatingLossMember_lbl" xml:lang="en-US">State Net Operating Loss [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_StateNetOperatingLossMember_lbl" xml:lang="en-US">State Net Operating Loss [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_USFederalOperatingLossMember" xlink:label="ndaq_USFederalOperatingLossMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_USFederalOperatingLossMember" xlink:to="ndaq_USFederalOperatingLossMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_USFederalOperatingLossMember_lbl" xml:lang="en-US">U.S. Federal Operating Loss [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_USFederalOperatingLossMember_lbl" xml:lang="en-US">U S Federal Operating Loss [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_USFederalOperatingLossMember_lbl" xml:lang="en-US">U.S. Federal Operating Loss [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_ForeignNetOperatingLossMember" xlink:label="ndaq_ForeignNetOperatingLossMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_ForeignNetOperatingLossMember" xlink:to="ndaq_ForeignNetOperatingLossMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_ForeignNetOperatingLossMember_lbl" xml:lang="en-US">Foreign Net Operating Loss [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_ForeignNetOperatingLossMember_lbl" xml:lang="en-US">Foreign Net Operating Loss [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_ForeignNetOperatingLossMember_lbl" xml:lang="en-US">Foreign Net Operating Loss [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_TaxingJurisdictionsMember" xlink:label="ndaq_TaxingJurisdictionsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_TaxingJurisdictionsMember" xlink:to="ndaq_TaxingJurisdictionsMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_TaxingJurisdictionsMember_lbl" xml:lang="en-US">Taxing Jurisdictions [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_TaxingJurisdictionsMember_lbl" xml:lang="en-US">Taxing Jurisdictions [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_TaxingJurisdictionsMember_lbl" xml:lang="en-US">Taxing Jurisdictions [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_FinnishTaxAuthorityMember" xlink:label="ndaq_FinnishTaxAuthorityMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_FinnishTaxAuthorityMember" xlink:to="ndaq_FinnishTaxAuthorityMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_FinnishTaxAuthorityMember_lbl" xml:lang="en-US">Finnish Tax Authority [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_FinnishTaxAuthorityMember_lbl" xml:lang="en-US">Finnish Tax Authority [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_FinnishTaxAuthorityMember_lbl" xml:lang="en-US">Finnish Tax Authority [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_IncomeTaxLineItems" xlink:label="ndaq_IncomeTaxLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_IncomeTaxLineItems" xlink:to="ndaq_IncomeTaxLineItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_IncomeTaxLineItems_lbl" xml:lang="en-US">Income Tax [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_IncomeTaxLineItems_lbl" xml:lang="en-US">Income Tax [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_UndistributedEarnings" xlink:label="us-gaap_UndistributedEarnings" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UndistributedEarnings" xlink:to="us-gaap_UndistributedEarnings_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UndistributedEarnings_lbl" xml:lang="en-US">Undistributed Earnings, Basic</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_UndistributedEarnings_lbl" xml:lang="en-US">Undistributed Earnings, Basic, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_UndistributedEarnings_lbl" xml:lang="en-US">Undistributed earnings</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingLossCarryforwards" xlink:label="us-gaap_OperatingLossCarryforwards" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLossCarryforwards" xlink:to="us-gaap_OperatingLossCarryforwards_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLossCarryforwards_lbl" xml:lang="en-US">Operating Loss Carryforwards</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingLossCarryforwards_lbl" xml:lang="en-US">Operating Loss Carryforwards, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OperatingLossCarryforwards_lbl" xml:lang="en-US">Net operating loss</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_ForeignOperatingLossCarryForwardExpirationStartDate" xlink:label="ndaq_ForeignOperatingLossCarryForwardExpirationStartDate" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_ForeignOperatingLossCarryForwardExpirationStartDate" xlink:to="ndaq_ForeignOperatingLossCarryForwardExpirationStartDate_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_ForeignOperatingLossCarryForwardExpirationStartDate_lbl" xml:lang="en-US">Foreign operating loss carry forward expiration start date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_ForeignOperatingLossCarryForwardExpirationStartDate_lbl" xml:lang="en-US">Foreign Operating Loss Carry Forward Expiration Start Date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_ForeignOperatingLossCarryForwardExpirationStartDate_lbl" xml:lang="en-US">Operating loss carry forward expiration start date</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_ForeignOperatingLossCarryForwardExpirationEndDate" xlink:label="ndaq_ForeignOperatingLossCarryForwardExpirationEndDate" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_ForeignOperatingLossCarryForwardExpirationEndDate" xlink:to="ndaq_ForeignOperatingLossCarryForwardExpirationEndDate_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_ForeignOperatingLossCarryForwardExpirationEndDate_lbl" xml:lang="en-US">Foreign operating loss carry forward expiration end date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_ForeignOperatingLossCarryForwardExpirationEndDate_lbl" xml:lang="en-US">Foreign Operating Loss Carry Forward Expiration End Date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_ForeignOperatingLossCarryForwardExpirationEndDate_lbl" xml:lang="en-US">Operating loss carry forward expiration end date</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_UnrecognizedTaxBenefits" xlink:label="us-gaap_UnrecognizedTaxBenefits" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnrecognizedTaxBenefits" xlink:to="us-gaap_UnrecognizedTaxBenefits_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UnrecognizedTaxBenefits_lbl" xml:lang="en-US">Unrecognized Tax Benefits</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="us-gaap_UnrecognizedTaxBenefits_lbl" xml:lang="en-US">Unrecognized benefits</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_UnrecognizedTaxBenefits_lbl" xml:lang="en-US">Ending balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_UnrecognizedTaxBenefits_lbl" xml:lang="en-US">Beginning balance</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_RecognizedEffectiveTaxRate" xlink:label="ndaq_RecognizedEffectiveTaxRate" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_RecognizedEffectiveTaxRate" xlink:to="ndaq_RecognizedEffectiveTaxRate_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_RecognizedEffectiveTaxRate_lbl" xml:lang="en-US">The amount of unrecognized tax benefits pertaining to uncertain tax positions taken in tax returns as of the balance sheet date that would affect our effective tax rate if recognized.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_RecognizedEffectiveTaxRate_lbl" xml:lang="en-US">Recognized Effective Tax Rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ndaq_RecognizedEffectiveTaxRate_lbl" xml:lang="en-US">Effective tax rate, if recognized</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_InterestAndPenaltyRecognizedRelatedToIncomeTax" xlink:label="ndaq_InterestAndPenaltyRecognizedRelatedToIncomeTax" />
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlansDomain" xlink:label="us-gaap_DefinedBenefitPlansDomain" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedBenefitPlansDomain_lbl" xml:lang="en-US">Defined Benefit Plans [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DefinedBenefitPlansDomain_lbl" xml:lang="en-US">Defined Benefit Plans [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DomesticPensionPlansOfForeignEntityDefinedBenefitMember" xlink:label="us-gaap_DomesticPensionPlansOfForeignEntityDefinedBenefitMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DomesticPensionPlansOfForeignEntityDefinedBenefitMember" xlink:to="us-gaap_DomesticPensionPlansOfForeignEntityDefinedBenefitMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DomesticPensionPlansOfForeignEntityDefinedBenefitMember_lbl" xml:lang="en-US">Domestic Pension Plans Of Foreign Entity Defined Benefit [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DomesticPensionPlansOfForeignEntityDefinedBenefitMember_lbl" xml:lang="en-US">Non-U.S. Benefit Plans [Member]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DefinedContributionPensionMember" xlink:to="us-gaap_DefinedContributionPensionMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedContributionPensionMember_lbl" xml:lang="en-US">Defined Contribution Pension [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DefinedContributionPensionMember_lbl" xml:lang="en-US">U.S. Defined Contribution Savings Plan [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_EmployerRetirementContributionsMember" xlink:label="ndaq_EmployerRetirementContributionsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_EmployerRetirementContributionsMember" xlink:to="ndaq_EmployerRetirementContributionsMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_EmployerRetirementContributionsMember_lbl" xml:lang="en-US">Employer Retirement Contributions [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_EmployerRetirementContributionsMember_lbl" xml:lang="en-US">Employer Retirement Contributions [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_EmployerRetirementContributionsMember_lbl" xml:lang="en-US">Employer Retirement Contributions [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EmployeeStockOptionMember" xlink:label="us-gaap_EmployeeStockOptionMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeStockOptionMember" xlink:to="us-gaap_EmployeeStockOptionMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EmployeeStockOptionMember_lbl" xml:lang="en-US">Employee Stock Option [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EmployeeStockOptionMember_lbl" xml:lang="en-US">Share-based Compensation [Member]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DefinedBenefitPlanDisclosureLineItems" xlink:to="us-gaap_DefinedBenefitPlanDisclosureLineItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedBenefitPlanDisclosureLineItems_lbl" xml:lang="en-US">Defined Benefit Plan Disclosure [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesCurrentAndNoncurrent" xlink:label="us-gaap_PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesCurrentAndNoncurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesCurrentAndNoncurrent" xlink:to="us-gaap_PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesCurrentAndNoncurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesCurrentAndNoncurrent_lbl" xml:lang="en-US">Pension and Other Postretirement and Postemployment Benefit Plans, Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesCurrentAndNoncurrent_lbl" xml:lang="en-US">Pension and Other Postretirement and Postemployment Benefit Plans, Liabilities, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesCurrentAndNoncurrent_lbl" xml:lang="en-US">Other non-current liabilities and accrued personnel costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanFundedStatusOfPlan" xlink:label="us-gaap_DefinedBenefitPlanFundedStatusOfPlan" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DefinedBenefitPlanFundedStatusOfPlan" xlink:to="us-gaap_DefinedBenefitPlanFundedStatusOfPlan_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedBenefitPlanFundedStatusOfPlan_lbl" xml:lang="en-US">Defined Benefit Plan, Funded Status of Plan</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DefinedBenefitPlanFundedStatusOfPlan_lbl" xml:lang="en-US">Defined Benefit Plan, Funded Status of Plan, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DefinedBenefitPlanFundedStatusOfPlan_lbl" xml:lang="en-US">Underfunded status of the plans</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_PercentageOfPostRetirementMeasurementForBelowAgeSixtyFive" xlink:label="ndaq_PercentageOfPostRetirementMeasurementForBelowAgeSixtyFive" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_PercentageOfPostRetirementMeasurementForBelowAgeSixtyFive" xlink:to="ndaq_PercentageOfPostRetirementMeasurementForBelowAgeSixtyFive_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_PercentageOfPostRetirementMeasurementForBelowAgeSixtyFive_lbl" xml:lang="en-US">Percentage of Post-retirement Measurement for below age Sixty Five.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_PercentageOfPostRetirementMeasurementForBelowAgeSixtyFive_lbl" xml:lang="en-US">Percentage of Post-retirement Measurement for below age Sixty Five</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ndaq_PercentageOfPostRetirementMeasurementForBelowAgeSixtyFive_lbl" xml:lang="en-US">Percentage of post-retirement measurement for below age sixty five</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_PercentageOfPostRetirementMeasurementForAfterAgeSixtyFive" xlink:label="ndaq_PercentageOfPostRetirementMeasurementForAfterAgeSixtyFive" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_PercentageOfPostRetirementMeasurementForAfterAgeSixtyFive" xlink:to="ndaq_PercentageOfPostRetirementMeasurementForAfterAgeSixtyFive_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_PercentageOfPostRetirementMeasurementForAfterAgeSixtyFive_lbl" xml:lang="en-US">Percentage of Post-retirement Measurement for after Age Sixty Five</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_PercentageOfPostRetirementMeasurementForAfterAgeSixtyFive_lbl" xml:lang="en-US">Percentage of Post-retirement Measurement for after Age Sixty Five</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_PercentageOfPostRetirementMeasurementForAfterAgeSixtyFive_lbl" xml:lang="en-US">Percentage of post-retirement measurement for after age sixty five</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_DefinedBenefitsPlanPercentageOfExpectedRateOfReturnOnPlanAssets" xlink:label="ndaq_DefinedBenefitsPlanPercentageOfExpectedRateOfReturnOnPlanAssets" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_DefinedBenefitsPlanPercentageOfExpectedRateOfReturnOnPlanAssets" xlink:to="ndaq_DefinedBenefitsPlanPercentageOfExpectedRateOfReturnOnPlanAssets_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_DefinedBenefitsPlanPercentageOfExpectedRateOfReturnOnPlanAssets_lbl" xml:lang="en-US">Defined Benefits Plan Percentage of Expected Rate of Return on Plan Assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_DefinedBenefitsPlanPercentageOfExpectedRateOfReturnOnPlanAssets_lbl" xml:lang="en-US">Defined Benefits Plan Percentage of Expected Rate of Return on Plan Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_DefinedBenefitsPlanPercentageOfExpectedRateOfReturnOnPlanAssets_lbl" xml:lang="en-US">Percentage of expected rate of return on plan assets</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_DefinedBenefitPlanPercentageOfExpectedPremiumOnPlanAssets" xlink:label="ndaq_DefinedBenefitPlanPercentageOfExpectedPremiumOnPlanAssets" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_DefinedBenefitPlanPercentageOfExpectedPremiumOnPlanAssets" xlink:to="ndaq_DefinedBenefitPlanPercentageOfExpectedPremiumOnPlanAssets_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_DefinedBenefitPlanPercentageOfExpectedPremiumOnPlanAssets_lbl" xml:lang="en-US">Defined Benefit Plan, Percentage of Expected Premium on Plan Assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_DefinedBenefitPlanPercentageOfExpectedPremiumOnPlanAssets_lbl" xml:lang="en-US">Defined Benefit Plan, Percentage of Expected Premium on Plan Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ndaq_DefinedBenefitPlanPercentageOfExpectedPremiumOnPlanAssets_lbl" xml:lang="en-US">Percentage of expected premium on plan assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PensionAndOtherPostretirementBenefitExpense" xlink:label="us-gaap_PensionAndOtherPostretirementBenefitExpense" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PensionAndOtherPostretirementBenefitExpense" xlink:to="us-gaap_PensionAndOtherPostretirementBenefitExpense_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PensionAndOtherPostretirementBenefitExpense_lbl" xml:lang="en-US">Pension and Other Postretirement Benefit Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PensionAndOtherPostretirementBenefitExpense_lbl" xml:lang="en-US">Cost or expenses included in compensation and benefit expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_PensionAndOtherPostretirementBenefitExpense_lbl" xml:lang="en-US">Pension and Other Postretirement Benefit Expense, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PensionAndOtherPostretirementBenefitExpense_lbl" xml:lang="en-US">Benefit cost- US</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationProjectedBenefitObligationAsset" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationProjectedBenefitObligationAsset" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionPurchasePriceAllocationProjectedBenefitObligationAsset" xlink:to="us-gaap_BusinessAcquisitionPurchasePriceAllocationProjectedBenefitObligationAsset_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationProjectedBenefitObligationAsset_lbl" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Projected Benefit Obligation (Asset)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationProjectedBenefitObligationAsset_lbl" xml:lang="en-US">Projected benefit obligation</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanFairValueOfPlanAssets" xlink:label="us-gaap_DefinedBenefitPlanFairValueOfPlanAssets" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DefinedBenefitPlanFairValueOfPlanAssets" xlink:to="us-gaap_DefinedBenefitPlanFairValueOfPlanAssets_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedBenefitPlanFairValueOfPlanAssets_lbl" xml:lang="en-US">Defined Benefit Plan, Fair Value of Plan Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_DefinedBenefitPlanFairValueOfPlanAssets_lbl" xml:lang="en-US">Fair value of plan assets at end of year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_DefinedBenefitPlanFairValueOfPlanAssets_lbl" xml:lang="en-US">Fair value of plan assets at beginning of year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DefinedBenefitPlanFairValueOfPlanAssets_lbl" xml:lang="en-US">Fair value of the plan assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DefinedBenefitPlanFairValueOfPlanAssets_lbl" xml:lang="en-US">Total Benefit Plan Assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost" xlink:label="us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost" xlink:to="us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_lbl" xml:lang="en-US">Defined Benefit Plan, Net Periodic Benefit Cost</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_lbl" xml:lang="en-US">Components of Net Periodic Benefit Cost</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_lbl" xml:lang="en-US">Net periodic benefit cost</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost_lbl" xml:lang="en-US">Benefit cost</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_PercentageOfEmployerContributions" xlink:label="ndaq_PercentageOfEmployerContributions" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_PercentageOfEmployerContributions" xlink:to="ndaq_PercentageOfEmployerContributions_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_PercentageOfEmployerContributions_lbl" xml:lang="en-US">Percentage that employer matches of the employee first 4% of eligible contributions.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_PercentageOfEmployerContributions_lbl" xml:lang="en-US">Percentage of Employer Contributions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_PercentageOfEmployerContributions_lbl" xml:lang="en-US">Percentage of employer contributions</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_MaximumPercentageEligibilityOfEmployeeOnEmployerContributions" xlink:label="ndaq_MaximumPercentageEligibilityOfEmployeeOnEmployerContributions" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_MaximumPercentageEligibilityOfEmployeeOnEmployerContributions" xlink:to="ndaq_MaximumPercentageEligibilityOfEmployeeOnEmployerContributions_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_MaximumPercentageEligibilityOfEmployeeOnEmployerContributions_lbl" xml:lang="en-US">We sponsor a voluntary defined contribution savings plan, or 401(k) Plan, for U.S. employees. Employees are immediately eligible to make contributions to the plan and are also eligible for an employer contribution match at an amount equal to 100.0% of the first 4.0% of eligible employee contributions.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_MaximumPercentageEligibilityOfEmployeeOnEmployerContributions_lbl" xml:lang="en-US">Maximum Percentage Eligibility Of Employee On Employer Contributions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_MaximumPercentageEligibilityOfEmployeeOnEmployerContributions_lbl" xml:lang="en-US">Percentage of eligible employee contributions receiving employer contributions</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockCapitalSharesReservedForFutureIssuance" xlink:label="us-gaap_CommonStockCapitalSharesReservedForFutureIssuance" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockCapitalSharesReservedForFutureIssuance" xlink:to="us-gaap_CommonStockCapitalSharesReservedForFutureIssuance_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockCapitalSharesReservedForFutureIssuance_lbl" xml:lang="en-US">Common Stock, Capital Shares Reserved for Future Issuance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockCapitalSharesReservedForFutureIssuance_lbl" xml:lang="en-US">Common stock shares reserved for future issuance</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_OfferingPeriodsForEsppSharesMonths" xlink:label="ndaq_OfferingPeriodsForEsppSharesMonths" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_OfferingPeriodsForEsppSharesMonths" xlink:to="ndaq_OfferingPeriodsForEsppSharesMonths_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_OfferingPeriodsForEsppSharesMonths_lbl" xml:lang="en-US">Offering periods for ESPP shares, months</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_OfferingPeriodsForEsppSharesMonths_lbl" xml:lang="en-US">Offering periods for ESPP shares, months</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_PercentageOfFairMarketValueOfCommonStock" xlink:label="ndaq_PercentageOfFairMarketValueOfCommonStock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_PercentageOfFairMarketValueOfCommonStock" xlink:to="ndaq_PercentageOfFairMarketValueOfCommonStock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_PercentageOfFairMarketValueOfCommonStock_lbl" xml:lang="en-US">Our ESPP allows eligible U.S. and non-U.S. employees to purchase a limited number of shares of our common stock at six-month intervals, called offering periods, at 85.0% of the lower of the fair market value on the first or the last day of each offering period. The 15.0% discount given to our employees is included in compensation and benefits expense in the Condensed Consolidated Statements of Income.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_PercentageOfFairMarketValueOfCommonStock_lbl" xml:lang="en-US">Percentage of Fair Market Value of Common Stock</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_PercentageOfFairMarketValueOfCommonStock_lbl" xml:lang="en-US">Percentage of fair market value of common stock</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_PercentageOfDiscountToEmployeesOnPurchaseOfCommonStockUnderEmployeeStockPurchasePlan" xlink:label="ndaq_PercentageOfDiscountToEmployeesOnPurchaseOfCommonStockUnderEmployeeStockPurchasePlan" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_PercentageOfDiscountToEmployeesOnPurchaseOfCommonStockUnderEmployeeStockPurchasePlan" xlink:to="ndaq_PercentageOfDiscountToEmployeesOnPurchaseOfCommonStockUnderEmployeeStockPurchasePlan_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_PercentageOfDiscountToEmployeesOnPurchaseOfCommonStockUnderEmployeeStockPurchasePlan_lbl" xml:lang="en-US">Our ESPP allows eligible U.S. and non-U.S. employees to purchase a limited number of shares of our common stock at six-month intervals, called offering periods, at 85.0% of the lower of the fair market value on the first or the last day of each offering period. The 15.0% discount given to our employees is included in compensation and benefits expense in the Condensed Consolidated Statements of Income.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_PercentageOfDiscountToEmployeesOnPurchaseOfCommonStockUnderEmployeeStockPurchasePlan_lbl" xml:lang="en-US">Percentage Of Discount To Employees On Purchase Of Common Stock Under Employee Stock Purchase Plan</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_PercentageOfDiscountToEmployeesOnPurchaseOfCommonStockUnderEmployeeStockPurchasePlan_lbl" xml:lang="en-US">Percentage of discount to employees on purchase of common stock under ESPP</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_MaximumPercentageOfSharesPurchasedFromAnnualCompensation" xlink:label="ndaq_MaximumPercentageOfSharesPurchasedFromAnnualCompensation" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_MaximumPercentageOfSharesPurchasedFromAnnualCompensation" xlink:to="ndaq_MaximumPercentageOfSharesPurchasedFromAnnualCompensation_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_MaximumPercentageOfSharesPurchasedFromAnnualCompensation_lbl" xml:lang="en-US">Maximum Percentage of Shares Purchased from Annual Compensation.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_MaximumPercentageOfSharesPurchasedFromAnnualCompensation_lbl" xml:lang="en-US">Maximum Percentage of Shares Purchased from Annual Compensation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_MaximumPercentageOfSharesPurchasedFromAnnualCompensation_lbl" xml:lang="en-US">Maximum percentage shares purchased from annual compensation</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans" xlink:label="us-gaap_StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans" xlink:to="us-gaap_StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans_lbl" xml:lang="en-US">Stock Issued During Period, Shares, Employee Stock Purchase Plans</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans_lbl" xml:lang="en-US">Number of shares purchased</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_WeightedAveragePriceOfSharesIssued" xlink:label="ndaq_WeightedAveragePriceOfSharesIssued" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_WeightedAveragePriceOfSharesIssued" xlink:to="ndaq_WeightedAveragePriceOfSharesIssued_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_WeightedAveragePriceOfSharesIssued_lbl" xml:lang="en-US">Weighted-Average Price of Shares Issued.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_WeightedAveragePriceOfSharesIssued_lbl" xml:lang="en-US">Weighted-Average Price of Shares Issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ndaq_WeightedAveragePriceOfSharesIssued_lbl" xml:lang="en-US">Weighted-average price of shares purchased</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EmployeeStockOwnershipPlanESOPCompensationExpense" xlink:label="us-gaap_EmployeeStockOwnershipPlanESOPCompensationExpense" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeStockOwnershipPlanESOPCompensationExpense" xlink:to="us-gaap_EmployeeStockOwnershipPlanESOPCompensationExpense_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EmployeeStockOwnershipPlanESOPCompensationExpense_lbl" xml:lang="en-US">Employee Stock Ownership Plan (ESOP), Compensation Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EmployeeStockOwnershipPlanESOPCompensationExpense_lbl" xml:lang="en-US">Compensation expenses</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_RateOfDiscountGivenToEmployees" xlink:label="ndaq_RateOfDiscountGivenToEmployees" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_RateOfDiscountGivenToEmployees" xlink:to="ndaq_RateOfDiscountGivenToEmployees_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_RateOfDiscountGivenToEmployees_lbl" xml:lang="en-US">Rate of Discount given to Employees.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_RateOfDiscountGivenToEmployees_lbl" xml:lang="en-US">Rate of Discount given to Employees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_RateOfDiscountGivenToEmployees_lbl" xml:lang="en-US">Rate of discount given to employees</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanInterestCost" xlink:label="us-gaap_DefinedBenefitPlanInterestCost" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DefinedBenefitPlanInterestCost" xlink:to="us-gaap_DefinedBenefitPlanInterestCost_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedBenefitPlanInterestCost_lbl" xml:lang="en-US">Defined Benefit Plan, Interest Cost</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DefinedBenefitPlanInterestCost_lbl" xml:lang="en-US">Interest cost</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DefinedBenefitPlanInterestCost_lbl" xml:lang="en-US">Interest cost</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets" xlink:label="us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets" xlink:to="us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets_lbl" xml:lang="en-US">Defined Benefit Plan, Expected Return on Plan Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets_lbl" xml:lang="en-US">Expected return on plan assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets_lbl" xml:lang="en-US">Expected return on plan assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets_lbl" xml:lang="en-US">Expected return on plan assets</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_RecognizedNetActuarialGainLoss" xlink:label="ndaq_RecognizedNetActuarialGainLoss" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_RecognizedNetActuarialGainLoss" xlink:to="ndaq_RecognizedNetActuarialGainLoss_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_RecognizedNetActuarialGainLoss_lbl" xml:lang="en-US">The component of net periodic benefit costs.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_RecognizedNetActuarialGainLoss_lbl" xml:lang="en-US">Recognized Net Actuarial Gain Loss</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_RecognizedNetActuarialGainLoss_lbl" xml:lang="en-US">Recognized net actuarial (gain) loss</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToSettlements" xlink:label="us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToSettlements" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToSettlements" xlink:to="us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToSettlements_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToSettlements_lbl" xml:lang="en-US">Defined Benefit Plan, Recognized Net (Gain) Loss Due to Settlements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToSettlements_lbl" xml:lang="en-US">Settlement loss recognized</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SupplementalEmployeeRetirementPlanDefinedBenefitMember" xlink:label="us-gaap_SupplementalEmployeeRetirementPlanDefinedBenefitMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SupplementalEmployeeRetirementPlanDefinedBenefitMember" xlink:to="us-gaap_SupplementalEmployeeRetirementPlanDefinedBenefitMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SupplementalEmployeeRetirementPlanDefinedBenefitMember_lbl" xml:lang="en-US">Supplemental Employee Retirement Plan Defined Benefit [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SupplementalEmployeeRetirementPlanDefinedBenefitMember_lbl" xml:lang="en-US">SERP [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanBenefitObligation" xlink:label="us-gaap_DefinedBenefitPlanBenefitObligation" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DefinedBenefitPlanBenefitObligation" xlink:to="us-gaap_DefinedBenefitPlanBenefitObligation_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedBenefitPlanBenefitObligation_lbl" xml:lang="en-US">Defined Benefit Plan, Benefit Obligation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_DefinedBenefitPlanBenefitObligation_lbl" xml:lang="en-US">Benefit obligation at end of year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_DefinedBenefitPlanBenefitObligation_lbl" xml:lang="en-US">Benefit obligation at beginning of year</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanActuarialNetGainsLosses" xlink:label="us-gaap_DefinedBenefitPlanActuarialNetGainsLosses" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DefinedBenefitPlanActuarialNetGainsLosses" xlink:to="us-gaap_DefinedBenefitPlanActuarialNetGainsLosses_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedBenefitPlanActuarialNetGainsLosses_lbl" xml:lang="en-US">Defined Benefit Plan, Actuarial Net (Gains) Losses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DefinedBenefitPlanActuarialNetGainsLosses_lbl" xml:lang="en-US">Recognized net actuarial (gain) loss</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DefinedBenefitPlanActuarialNetGainsLosses_lbl" xml:lang="en-US">Actuarial losses (gains)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanBenefitsPaid" xlink:label="us-gaap_DefinedBenefitPlanBenefitsPaid" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DefinedBenefitPlanBenefitsPaid" xlink:to="us-gaap_DefinedBenefitPlanBenefitsPaid_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedBenefitPlanBenefitsPaid_lbl" xml:lang="en-US">Defined Benefit Plan, Benefits Paid</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DefinedBenefitPlanBenefitsPaid_lbl" xml:lang="en-US">Benefits paid</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanSettlementsBenefitObligation" xlink:label="us-gaap_DefinedBenefitPlanSettlementsBenefitObligation" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DefinedBenefitPlanSettlementsBenefitObligation" xlink:to="us-gaap_DefinedBenefitPlanSettlementsBenefitObligation_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedBenefitPlanSettlementsBenefitObligation_lbl" xml:lang="en-US">Defined Benefit Plan, Settlements, Benefit Obligation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DefinedBenefitPlanSettlementsBenefitObligation_lbl" xml:lang="en-US">Settlements</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_DefinedBenefitPlanLossDueToChangeInDiscountRate" xlink:label="ndaq_DefinedBenefitPlanLossDueToChangeInDiscountRate" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_DefinedBenefitPlanLossDueToChangeInDiscountRate" xlink:to="ndaq_DefinedBenefitPlanLossDueToChangeInDiscountRate_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_DefinedBenefitPlanLossDueToChangeInDiscountRate_lbl" xml:lang="en-US">Defined Benefit Plan, Loss due to Change in Discount Rate.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_DefinedBenefitPlanLossDueToChangeInDiscountRate_lbl" xml:lang="en-US">Defined Benefit Plan, Loss due to Change in Discount Rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ndaq_DefinedBenefitPlanLossDueToChangeInDiscountRate_lbl" xml:lang="en-US">Loss due to change in discount rate</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanActualReturnOnPlanAssets" xlink:label="us-gaap_DefinedBenefitPlanActualReturnOnPlanAssets" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DefinedBenefitPlanActualReturnOnPlanAssets" xlink:to="us-gaap_DefinedBenefitPlanActualReturnOnPlanAssets_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedBenefitPlanActualReturnOnPlanAssets_lbl" xml:lang="en-US">Defined Benefit Plan, Actual Return on Plan Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DefinedBenefitPlanActualReturnOnPlanAssets_lbl" xml:lang="en-US">Expected to be returned assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DefinedBenefitPlanActualReturnOnPlanAssets_lbl" xml:lang="en-US">Defined Benefit Plan, Actual Return on Plan Assets, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DefinedBenefitPlanActualReturnOnPlanAssets_lbl" xml:lang="en-US">Actual return on plan assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanContributionsByEmployer" xlink:label="us-gaap_DefinedBenefitPlanContributionsByEmployer" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DefinedBenefitPlanContributionsByEmployer" xlink:to="us-gaap_DefinedBenefitPlanContributionsByEmployer_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedBenefitPlanContributionsByEmployer_lbl" xml:lang="en-US">Defined Benefit Plan, Contributions by Employer</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DefinedBenefitPlanContributionsByEmployer_lbl" xml:lang="en-US">Company contributions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DefinedBenefitPlanContributionsByEmployer_lbl" xml:lang="en-US">Company contributions</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_OtherComprehensiveIncomeAccumulatedDefinedBenefitPlansTax_lbl" xml:lang="en-US">Other Comprehensive Income Accumulated Defined Benefit Plans Tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_OtherComprehensiveIncomeAccumulatedDefinedBenefitPlansTax_lbl" xml:lang="en-US">Income tax benefit</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax_lbl" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax, Ending Balance</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearOne_lbl" xml:lang="en-US">Defined Benefit Plan, Expected Future Benefit Payments in Year One</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearOne_lbl" xml:lang="en-US">2012</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearTwo_lbl" xml:lang="en-US">2013</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearThree_lbl" xml:lang="en-US">2014</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearFour" xlink:to="us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearFour_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearFour_lbl" xml:lang="en-US">Defined Benefit Plan, Expected Future Benefit Payments in Year Four</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearFour_lbl" xml:lang="en-US">2015</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearFive" xlink:label="us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearFive" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearFive" xlink:to="us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearFive_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearFive_lbl" xml:lang="en-US">Defined Benefit Plan, Expected Future Benefit Payments in Year Five</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearFive_lbl" xml:lang="en-US">2016</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInFiveFiscalYearsThereafter" xlink:label="us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInFiveFiscalYearsThereafter" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInFiveFiscalYearsThereafter" xlink:to="us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInFiveFiscalYearsThereafter_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInFiveFiscalYearsThereafter_lbl" xml:lang="en-US">Defined Benefit Plan, Expected Future Benefit Payments in Five Fiscal Years Thereafter</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInFiveFiscalYearsThereafter_lbl" xml:lang="en-US">2017 through 2021</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_DefinedBenefitPlanExpectedFutureBenefitPayments" xlink:label="ndaq_DefinedBenefitPlanExpectedFutureBenefitPayments" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_DefinedBenefitPlanExpectedFutureBenefitPayments" xlink:to="ndaq_DefinedBenefitPlanExpectedFutureBenefitPayments_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_DefinedBenefitPlanExpectedFutureBenefitPayments_lbl" xml:lang="en-US">Defined Benefit Plan Expected Future Benefit Payments.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_DefinedBenefitPlanExpectedFutureBenefitPayments_lbl" xml:lang="en-US">Defined Benefit Plan Expected Future Benefit Payments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ndaq_DefinedBenefitPlanExpectedFutureBenefitPayments_lbl" xml:lang="en-US">Estimated Future Benefit Payments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:to="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_lbl" xml:lang="en-US">Schedule Of Share-Based Compensation Arrangements By Share-Based Payment Award [Table]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_ShareBasedCompensationArrangementByPerformanceConditionAxis" xlink:label="ndaq_ShareBasedCompensationArrangementByPerformanceConditionAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_ShareBasedCompensationArrangementByPerformanceConditionAxis" xlink:to="ndaq_ShareBasedCompensationArrangementByPerformanceConditionAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_ShareBasedCompensationArrangementByPerformanceConditionAxis_lbl" xml:lang="en-US">Share-based Compensation Arrangement By Performance Condition [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_ShareBasedCompensationArrangementByPerformanceConditionAxis_lbl" xml:lang="en-US">Share-based Compensation Arrangement By Performance Condition [Axis]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_ShareBasedCompensationArrangementByPerformanceConditionDomain" xlink:label="ndaq_ShareBasedCompensationArrangementByPerformanceConditionDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_ShareBasedCompensationArrangementByPerformanceConditionDomain" xlink:to="ndaq_ShareBasedCompensationArrangementByPerformanceConditionDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_ShareBasedCompensationArrangementByPerformanceConditionDomain_lbl" xml:lang="en-US">Share-based Compensation Arrangement By Performance Condition [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_ShareBasedCompensationArrangementByPerformanceConditionDomain_lbl" xml:lang="en-US">Share Based Compensation Arrangement By Performance Condition [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_ShareBasedCompensationArrangementByPerformanceConditionDomain_lbl" xml:lang="en-US">Share-based Compensation Arrangement By Performance Condition [Domain]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_ThreeYearPerformancePeriodMember" xlink:label="ndaq_ThreeYearPerformancePeriodMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_ThreeYearPerformancePeriodMember" xlink:to="ndaq_ThreeYearPerformancePeriodMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_ThreeYearPerformancePeriodMember_lbl" xml:lang="en-US">Three Year Performance Period [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_ThreeYearPerformancePeriodMember_lbl" xml:lang="en-US">Three Year Performance Period [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_ThreeYearPerformancePeriodMember_lbl" xml:lang="en-US">Three Year Performance Period [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_OneYearPerformancePeriodMember" xlink:label="ndaq_OneYearPerformancePeriodMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_OneYearPerformancePeriodMember" xlink:to="ndaq_OneYearPerformancePeriodMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_OneYearPerformancePeriodMember_lbl" xml:lang="en-US">One Year Performance Period [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_OneYearPerformancePeriodMember_lbl" xml:lang="en-US">One Year Performance Period [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_OneYearPerformancePeriodMember_lbl" xml:lang="en-US">One Year Performance Period [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredCompensationShareBasedPaymentsMember" xlink:label="us-gaap_DeferredCompensationShareBasedPaymentsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredCompensationShareBasedPaymentsMember" xlink:to="us-gaap_DeferredCompensationShareBasedPaymentsMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredCompensationShareBasedPaymentsMember_lbl" xml:lang="en-US">Deferred Compensation Share Based Payments [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredCompensationShareBasedPaymentsMember_lbl" xml:lang="en-US">Deferred Compensation, Share-Based Payments [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_PsusMember" xlink:label="ndaq_PsusMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_PsusMember" xlink:to="ndaq_PsusMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_PsusMember_lbl" xml:lang="en-US">PSUs [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_PsusMember_lbl" xml:lang="en-US">Psus [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_PsusMember_lbl" xml:lang="en-US">PSUs [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis" xlink:to="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_lbl" xml:lang="en-US">Antidilutive Securities Excluded from Computation of Earnings Per Share, by Antidilutive Securities [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AntidilutiveSecuritiesNameDomain" xlink:label="us-gaap_AntidilutiveSecuritiesNameDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AntidilutiveSecuritiesNameDomain" xlink:to="us-gaap_AntidilutiveSecuritiesNameDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AntidilutiveSecuritiesNameDomain_lbl" xml:lang="en-US">Antidilutive Securities Name [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AntidilutiveSecuritiesNameDomain_lbl" xml:lang="en-US">Antidilutive Securities, Name [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockOptionsMember" xlink:label="us-gaap_StockOptionsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockOptionsMember" xlink:to="us-gaap_StockOptionsMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockOptionsMember_lbl" xml:lang="en-US">Stock Options [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockOptionsMember_lbl" xml:lang="en-US">Stock Options [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_NonQualifiedStockOptionsMember" xlink:label="ndaq_NonQualifiedStockOptionsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_NonQualifiedStockOptionsMember" xlink:to="ndaq_NonQualifiedStockOptionsMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_NonQualifiedStockOptionsMember_lbl" xml:lang="en-US">Non Qualified Stock Options [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_NonQualifiedStockOptionsMember_lbl" xml:lang="en-US">Non Qualified Stock Options [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_NonQualifiedStockOptionsMember_lbl" xml:lang="en-US">Non-Qualified Stock Options [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_StockOptionExchangeProgramOptionExchangeRatio" xlink:label="ndaq_StockOptionExchangeProgramOptionExchangeRatio" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_StockOptionExchangeProgramOptionExchangeRatio" xlink:to="ndaq_StockOptionExchangeProgramOptionExchangeRatio_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_StockOptionExchangeProgramOptionExchangeRatio_lbl" xml:lang="en-US">Stock Option Exchange Program, Option Exchange Ratio</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_StockOptionExchangeProgramOptionExchangeRatio_lbl" xml:lang="en-US">Stock Option Exchange Program, Option Exchange Ratio</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ndaq_StockOptionExchangeProgramOptionExchangeRatio_lbl" xml:lang="en-US">Option exchange ratio</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit" xlink:to="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit_lbl" xml:lang="en-US">Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit_lbl" xml:lang="en-US">Range of Exercise Prices, Lower Limit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit_lbl" xml:lang="en-US">Range of exercise prices, lower limit</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit" xlink:to="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit_lbl" xml:lang="en-US">Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit_lbl" xml:lang="en-US">Range of Exercise Prices, Upper Limit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit_lbl" xml:lang="en-US">Range of exercise prices, upper limit</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardExpirationDating" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardExpirationDating" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardExpirationDating" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardExpirationDating_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardExpirationDating_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardExpirationDating_lbl" xml:lang="en-US">Stock option date of expiration</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_StockOptionsTenderedByEmployees" xlink:label="ndaq_StockOptionsTenderedByEmployees" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_StockOptionsTenderedByEmployees" xlink:to="ndaq_StockOptionsTenderedByEmployees_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_StockOptionsTenderedByEmployees_lbl" xml:lang="en-US">Stock Options Tendered By Employees .</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_StockOptionsTenderedByEmployees_lbl" xml:lang="en-US">Stock Options Tendered By Employees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ndaq_StockOptionsTenderedByEmployees_lbl" xml:lang="en-US">Stock options tendered by employees</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_PercentageOfStockOptionsTenderedByEmployeesOutOfTotalEligibleStockOptions" xlink:label="ndaq_PercentageOfStockOptionsTenderedByEmployeesOutOfTotalEligibleStockOptions" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_PercentageOfStockOptionsTenderedByEmployeesOutOfTotalEligibleStockOptions" xlink:to="ndaq_PercentageOfStockOptionsTenderedByEmployeesOutOfTotalEligibleStockOptions_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_PercentageOfStockOptionsTenderedByEmployeesOutOfTotalEligibleStockOptions_lbl" xml:lang="en-US">Percentage Of Stock Options Tendered By Employees Out Of Total Eligible Stock Options.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_PercentageOfStockOptionsTenderedByEmployeesOutOfTotalEligibleStockOptions_lbl" xml:lang="en-US">Percentage Of Stock Options Tendered By Employees Out Of Total Eligible Stock Options</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ndaq_PercentageOfStockOptionsTenderedByEmployeesOutOfTotalEligibleStockOptions_lbl" xml:lang="en-US">Percentage of stock options eligible for exchange</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_lbl" xml:lang="en-US">Stock Options, Granted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_lbl" xml:lang="en-US">Stock options, granted</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1" xlink:to="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1_lbl" xml:lang="en-US">Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1_lbl" xml:lang="en-US">Weighted-Average Exercise Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1_lbl" xml:lang="en-US">Exercise price</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_StockOptionVestingPeriod" xlink:label="ndaq_StockOptionVestingPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_StockOptionVestingPeriod" xlink:to="ndaq_StockOptionVestingPeriod_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_StockOptionVestingPeriod_lbl" xml:lang="en-US">Stock Option Vesting Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_StockOptionVestingPeriod_lbl" xml:lang="en-US">Stock Option Vesting Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_StockOptionVestingPeriod_lbl" xml:lang="en-US">Vesting period (in years)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod_lbl" xml:lang="en-US">Stock option expense</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_RestrictedStockVestingRangeMinimum" xlink:label="ndaq_RestrictedStockVestingRangeMinimum" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_RestrictedStockVestingRangeMinimum" xlink:to="ndaq_RestrictedStockVestingRangeMinimum_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_RestrictedStockVestingRangeMinimum_lbl" xml:lang="en-US">Restricted Stock Vesting Range Minimum</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_RestrictedStockVestingRangeMinimum_lbl" xml:lang="en-US">Restricted Stock Vesting Range Minimum</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_RestrictedStockVestingRangeMinimum_lbl" xml:lang="en-US">Restricted stock vesting range, minimum (in years)</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_RestrictedStockVestingRangeMaximum" xlink:label="ndaq_RestrictedStockVestingRangeMaximum" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_RestrictedStockVestingRangeMaximum" xlink:to="ndaq_RestrictedStockVestingRangeMaximum_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_RestrictedStockVestingRangeMaximum_lbl" xml:lang="en-US">Restricted stock vesting range, maximum</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_RestrictedStockVestingRangeMaximum_lbl" xml:lang="en-US">Restricted stock vesting range, maximum</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_RestrictedStockVestingRangeMaximum_lbl" xml:lang="en-US">Restricted stock vesting range, maximum (in years)</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_StockOptionsGenerallyExpire" xlink:label="ndaq_StockOptionsGenerallyExpire" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_StockOptionsGenerallyExpire" xlink:to="ndaq_StockOptionsGenerallyExpire_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_StockOptionsGenerallyExpire_lbl" xml:lang="en-US">Stock Options Generally Expire</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_StockOptionsGenerallyExpire_lbl" xml:lang="en-US">Stock Options Generally Expire</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_StockOptionsGenerallyExpire_lbl" xml:lang="en-US">Stock options generally expire, period in years</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_GrantsVestOnAnniversaryIfPerformanceMetYear" xlink:label="ndaq_GrantsVestOnAnniversaryIfPerformanceMetYear" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_GrantsVestOnAnniversaryIfPerformanceMetYear" xlink:to="ndaq_GrantsVestOnAnniversaryIfPerformanceMetYear_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_GrantsVestOnAnniversaryIfPerformanceMetYear_lbl" xml:lang="en-US">Grants vest on anniversary if performance met, year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_GrantsVestOnAnniversaryIfPerformanceMetYear_lbl" xml:lang="en-US">Grants vest on anniversary if performance met, year</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_GrantsVestOnAnniversaryIfPerformanceNotMetYear" xlink:label="ndaq_GrantsVestOnAnniversaryIfPerformanceNotMetYear" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_GrantsVestOnAnniversaryIfPerformanceNotMetYear" xlink:to="ndaq_GrantsVestOnAnniversaryIfPerformanceNotMetYear_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_GrantsVestOnAnniversaryIfPerformanceNotMetYear_lbl" xml:lang="en-US">Grants vest on anniversary if performance not met, year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_GrantsVestOnAnniversaryIfPerformanceNotMetYear_lbl" xml:lang="en-US">Grants vest on anniversary if performance not met, year</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_PercentageOfTargetAmountGrantedMinimum" xlink:label="ndaq_PercentageOfTargetAmountGrantedMinimum" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_PercentageOfTargetAmountGrantedMinimum" xlink:to="ndaq_PercentageOfTargetAmountGrantedMinimum_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_PercentageOfTargetAmountGrantedMinimum_lbl" xml:lang="en-US">Percentage Of Target Amount Granted Minimum</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_PercentageOfTargetAmountGrantedMinimum_lbl" xml:lang="en-US">Percentage Of Target Amount Granted Minimum</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_PercentageOfTargetAmountGrantedMinimum_lbl" xml:lang="en-US">Percentage of target amount granted, Minimum</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_PercentageOfTargetAmountGrantedMaximum" xlink:label="ndaq_PercentageOfTargetAmountGrantedMaximum" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_PercentageOfTargetAmountGrantedMaximum" xlink:to="ndaq_PercentageOfTargetAmountGrantedMaximum_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_PercentageOfTargetAmountGrantedMaximum_lbl" xml:lang="en-US">Percentage Of Target Amount Granted Maximum</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_PercentageOfTargetAmountGrantedMaximum_lbl" xml:lang="en-US">Percentage Of Target Amount Granted Maximum</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_PercentageOfTargetAmountGrantedMaximum_lbl" xml:lang="en-US">Percentage of target amount granted, Maximum</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_GrantsReceivedByCertainExecutiveOfficersAndSelectGroupOfNonOfficerEmployees" xlink:label="ndaq_GrantsReceivedByCertainExecutiveOfficersAndSelectGroupOfNonOfficerEmployees" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_GrantsReceivedByCertainExecutiveOfficersAndSelectGroupOfNonOfficerEmployees" xlink:to="ndaq_GrantsReceivedByCertainExecutiveOfficersAndSelectGroupOfNonOfficerEmployees_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_GrantsReceivedByCertainExecutiveOfficersAndSelectGroupOfNonOfficerEmployees_lbl" xml:lang="en-US">Grants Received By Certain Executive Officers And a Select Group Of Non Officer Employees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_GrantsReceivedByCertainExecutiveOfficersAndSelectGroupOfNonOfficerEmployees_lbl" xml:lang="en-US">Grants Received By Certain Executive Officers And a Select Group Of Non Officer Employees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_GrantsReceivedByCertainExecutiveOfficersAndSelectGroupOfNonOfficerEmployees_lbl" xml:lang="en-US">Grants received by certain executive officers and a select group of non officer employees</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_PerformancePeriodOfGrantsReceived" xlink:label="ndaq_PerformancePeriodOfGrantsReceived" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_PerformancePeriodOfGrantsReceived" xlink:to="ndaq_PerformancePeriodOfGrantsReceived_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_PerformancePeriodOfGrantsReceived_lbl" xml:lang="en-US">Performance Period Of Grants Received</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_PerformancePeriodOfGrantsReceived_lbl" xml:lang="en-US">Performance Period Of Grants Received</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_PerformancePeriodOfGrantsReceived_lbl" xml:lang="en-US">Performance period of grants received, years</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_AdditionalPsus" xlink:label="ndaq_AdditionalPsus" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_AdditionalPsus" xlink:to="ndaq_AdditionalPsus_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_AdditionalPsus_lbl" xml:lang="en-US">Additional PSUs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_AdditionalPsus_lbl" xml:lang="en-US">Additional PSUs</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_NumberOfGrantsVestedWhichAreReceivedByExecutiveOfficers" xlink:label="ndaq_NumberOfGrantsVestedWhichAreReceivedByExecutiveOfficers" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_NumberOfGrantsVestedWhichAreReceivedByExecutiveOfficers" xlink:to="ndaq_NumberOfGrantsVestedWhichAreReceivedByExecutiveOfficers_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_NumberOfGrantsVestedWhichAreReceivedByExecutiveOfficers_lbl" xml:lang="en-US">Number of Grants Vested Which are Received by Executive Officers.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_NumberOfGrantsVestedWhichAreReceivedByExecutiveOfficers_lbl" xml:lang="en-US">Number of Grants Vested Which are Received by Executive Officers</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ndaq_NumberOfGrantsVestedWhichAreReceivedByExecutiveOfficers_lbl" xml:lang="en-US">Options vested out of granted</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_PercentageOfOptionsVestedInYearTwo" xlink:label="ndaq_PercentageOfOptionsVestedInYearTwo" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_PercentageOfOptionsVestedInYearTwo" xlink:to="ndaq_PercentageOfOptionsVestedInYearTwo_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_PercentageOfOptionsVestedInYearTwo_lbl" xml:lang="en-US">Percentage of Options Vested In Year Two</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_PercentageOfOptionsVestedInYearTwo_lbl" xml:lang="en-US">Percentage of Options Vested In Year Two</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_PercentageOfOptionsVestedInYearTwo_lbl" xml:lang="en-US">Percentage of options vested in second year</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_PercentageOfOptionsVestedInYearThree" xlink:label="ndaq_PercentageOfOptionsVestedInYearThree" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_PercentageOfOptionsVestedInYearThree" xlink:to="ndaq_PercentageOfOptionsVestedInYearThree_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_PercentageOfOptionsVestedInYearThree_lbl" xml:lang="en-US">Percentage of Options Vested In Year Three</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_PercentageOfOptionsVestedInYearThree_lbl" xml:lang="en-US">Percentage of Options Vested In Year Three</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_PercentageOfOptionsVestedInYearThree_lbl" xml:lang="en-US">Percentage of options vested in third year</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_NumberOfGrantsVestedInFutureWhichAreReceivedByExecutiveOfficers" xlink:label="ndaq_NumberOfGrantsVestedInFutureWhichAreReceivedByExecutiveOfficers" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_NumberOfGrantsVestedInFutureWhichAreReceivedByExecutiveOfficers" xlink:to="ndaq_NumberOfGrantsVestedInFutureWhichAreReceivedByExecutiveOfficers_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_NumberOfGrantsVestedInFutureWhichAreReceivedByExecutiveOfficers_lbl" xml:lang="en-US">Number of Grants Vested in Future Which are Received by Executive Officers.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_NumberOfGrantsVestedInFutureWhichAreReceivedByExecutiveOfficers_lbl" xml:lang="en-US">Number of Grants Vested in Future Which are Received by Executive Officers</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ndaq_NumberOfGrantsVestedInFutureWhichAreReceivedByExecutiveOfficers_lbl" xml:lang="en-US">Options vested out of granted in future period</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_NumberOfGrantsVestedInFutureWhichAreReceivedByExecutiveOfficersInCurrentYear" xlink:label="ndaq_NumberOfGrantsVestedInFutureWhichAreReceivedByExecutiveOfficersInCurrentYear" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_NumberOfGrantsVestedInFutureWhichAreReceivedByExecutiveOfficersInCurrentYear" xlink:to="ndaq_NumberOfGrantsVestedInFutureWhichAreReceivedByExecutiveOfficersInCurrentYear_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_NumberOfGrantsVestedInFutureWhichAreReceivedByExecutiveOfficersInCurrentYear_lbl" xml:lang="en-US">Number of grants vested in future which are received by executive officers in current year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_NumberOfGrantsVestedInFutureWhichAreReceivedByExecutiveOfficersInCurrentYear_lbl" xml:lang="en-US">Number Of Grants Vested In Future Which Are Received By Executive Officers In Current Year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ndaq_NumberOfGrantsVestedInFutureWhichAreReceivedByExecutiveOfficersInCurrentYear_lbl" xml:lang="en-US">Options vested out of granted in current year</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_NumberOfGrantsVestedInFutureWhichAreReceivedByExecutiveOfficersInYearTwo" xlink:label="ndaq_NumberOfGrantsVestedInFutureWhichAreReceivedByExecutiveOfficersInYearTwo" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_NumberOfGrantsVestedInFutureWhichAreReceivedByExecutiveOfficersInYearTwo" xlink:to="ndaq_NumberOfGrantsVestedInFutureWhichAreReceivedByExecutiveOfficersInYearTwo_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_NumberOfGrantsVestedInFutureWhichAreReceivedByExecutiveOfficersInYearTwo_lbl" xml:lang="en-US">Number of grants vested in future which are received by executive officers in year two</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_NumberOfGrantsVestedInFutureWhichAreReceivedByExecutiveOfficersInYearTwo_lbl" xml:lang="en-US">Number Of Grants Vested In Future Which Are Received By Executive Officers In Year Two</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ndaq_NumberOfGrantsVestedInFutureWhichAreReceivedByExecutiveOfficersInYearTwo_lbl" xml:lang="en-US">Options vested out of granted in second year</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_ExpirationPeriodOfStockOptionsReceivedByExecutiveOfficers" xlink:label="ndaq_ExpirationPeriodOfStockOptionsReceivedByExecutiveOfficers" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_ExpirationPeriodOfStockOptionsReceivedByExecutiveOfficers" xlink:to="ndaq_ExpirationPeriodOfStockOptionsReceivedByExecutiveOfficers_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_ExpirationPeriodOfStockOptionsReceivedByExecutiveOfficers_lbl" xml:lang="en-US">Expiration Period of Stock Options Received by Executive Officers.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_ExpirationPeriodOfStockOptionsReceivedByExecutiveOfficers_lbl" xml:lang="en-US">Expiration Period of Stock Options Received by Executive Officers</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_DiscountForEspp_lbl" xml:lang="en-US">Discount For The ESPP</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_ClosingStockPrice" xlink:to="ndaq_ClosingStockPrice_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_ClosingStockPrice_lbl" xml:lang="en-US">Closing stock price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_ClosingStockPrice_lbl" xml:lang="en-US">Closing stock price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_ClosingStockPrice_lbl" xml:lang="en-US">Closing stock price</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_TotalNumberOfInMoneyStockOptionsExercisable" xlink:label="ndaq_TotalNumberOfInMoneyStockOptionsExercisable" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_TotalNumberOfInMoneyStockOptionsExercisable_lbl" xml:lang="en-US">Total Number Of In The Money Stock Options Exercisable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_TotalNumberOfInMoneyStockOptionsExercisable_lbl" xml:lang="en-US">Total Number Of In The Money Stock Options Exercisable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_TotalNumberOfInMoneyStockOptionsExercisable_lbl" xml:lang="en-US">Total number of in-the-money stock options exercisable</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_lbl" xml:lang="en-US">Weighted Average Exercise Price, Exercisable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_lbl" xml:lang="en-US">Weighted-average exercise price</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_lbl" xml:lang="en-US">Stock Options, Exercisable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_lbl" xml:lang="en-US">Stock options, exercisable</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Total Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_lbl" xml:lang="en-US">Total fair value of stock options vested</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Total Intrinsic Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_lbl" xml:lang="en-US">Aggregate Intrinsic Value Exercises</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_lbl" xml:lang="en-US">Total pre-tax intrinsic value of stock options exercised</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:to="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_lbl" xml:lang="en-US">Employee service share-based compensation, unrecognized compensation costs on nonvested awards</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_lbl" xml:lang="en-US">Total unrecognized compensation cost related to stock options</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition" xlink:to="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition_lbl" xml:lang="en-US">Employee Service Share-based Compensation, Unrecognized Compensation Costs on Nonvested Awards, Weighted Average Period of Recognition</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition_lbl" xml:lang="en-US">Weighted-average period unrecognized compensation cost is expected to be recognized, in years</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpense" xlink:label="us-gaap_AllocatedShareBasedCompensationExpense" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllocatedShareBasedCompensationExpense" xlink:to="us-gaap_AllocatedShareBasedCompensationExpense_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AllocatedShareBasedCompensationExpense_lbl" xml:lang="en-US">Allocated Share-based Compensation Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AllocatedShareBasedCompensationExpense_lbl" xml:lang="en-US">Share-based compensation expense before income taxes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AllocatedShareBasedCompensationExpense_lbl" xml:lang="en-US">Allocated Share-based Compensation Expense, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense" xlink:to="us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense_lbl" xml:lang="en-US">Employee Service Share-based Compensation, Tax Benefit from Compensation Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense_lbl" xml:lang="en-US">Income tax benefit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense_lbl" xml:lang="en-US">Income tax benefit</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax" xlink:label="us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax" xlink:to="us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax_lbl" xml:lang="en-US">Allocated Share-based Compensation Expense, Net of Tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax_lbl" xml:lang="en-US">Share-based compensation expense after income taxes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax_lbl" xml:lang="en-US">Share-based compensation expense after income taxes</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedTerm" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedTerm" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedTerm" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedTerm_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedTerm_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedTerm_lbl" xml:lang="en-US">Expected life (in years)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_lbl" xml:lang="en-US">Weighted-average risk free interest rate</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_lbl" xml:lang="en-US">Expected volatility</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_lbl" xml:lang="en-US">Dividend yield</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl" xml:lang="en-US">Weighted-average fair value at grant date</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl" xml:lang="en-US">Stock Options Outstanding, End of period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl" xml:lang="en-US">Stock Options Outstanding, Beginning of period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl" xml:lang="en-US">Stock options to purchase shares</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_lbl" xml:lang="en-US">Stock Options, Forfeitures or Expiration</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_lbl" xml:lang="en-US">Stock Options, Forfeited or expired</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsStockOptionExchangeProgram" xlink:label="ndaq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsStockOptionExchangeProgram" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsStockOptionExchangeProgram" xlink:to="ndaq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsStockOptionExchangeProgram_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsStockOptionExchangeProgram_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Stock Option Exchange Program.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsStockOptionExchangeProgram_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Stock Option Exchange Program</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ndaq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsStockOptionExchangeProgram_lbl" xml:lang="en-US">Stock Options, Stock Option Exchange Program</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl" xml:lang="en-US">Weighted Average Exercise Price, End of period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl" xml:lang="en-US">Weighted Average Exercise Price, Beginning of period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl" xml:lang="en-US">Weighted Average Exercise price outstanding at january</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl" xml:lang="en-US">Weighted Average Exercise price outstanding September</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_lbl" xml:lang="en-US">Weighted Average Exercise Price, Granted</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_lbl" xml:lang="en-US">Weighted Average Exercise Price, Exercised</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_lbl" xml:lang="en-US">Weighted Average Exercise Price, Forfeited or expired</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_lbl" xml:lang="en-US">Weighted Average Exercise Price, Forfeited or expired</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsStockOptionExchangeProgramWeightedAverageExercisePrice" xlink:label="ndaq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsStockOptionExchangeProgramWeightedAverageExercisePrice" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsStockOptionExchangeProgramWeightedAverageExercisePrice" xlink:to="ndaq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsStockOptionExchangeProgramWeightedAverageExercisePrice_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsStockOptionExchangeProgramWeightedAverageExercisePrice_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Stock Option Exchange Program, Weighted Average Exercise Price.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsStockOptionExchangeProgramWeightedAverageExercisePrice_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Stock Option Exchange Program, Weighted Average Exercise Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsStockOptionExchangeProgramWeightedAverageExercisePrice_lbl" xml:lang="en-US">Weighted Average Exercise Price, stock option exchange program</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTable" xlink:label="us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTable" xlink:to="us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTable_lbl" xml:lang="en-US">Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis" xlink:to="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis_lbl" xml:lang="en-US">Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeDomain" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeDomain" xlink:to="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeDomain_lbl" xml:lang="en-US">Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeDomain_lbl" xml:lang="en-US">Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Domain]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_RangeOfExercisePricesFromFivePointTwoEightToSevenPointThreeFourMember" xlink:label="ndaq_RangeOfExercisePricesFromFivePointTwoEightToSevenPointThreeFourMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_RangeOfExercisePricesFromFivePointTwoEightToSevenPointThreeFourMember" xlink:to="ndaq_RangeOfExercisePricesFromFivePointTwoEightToSevenPointThreeFourMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_RangeOfExercisePricesFromFivePointTwoEightToSevenPointThreeFourMember_lbl" xml:lang="en-US">Range of Exercise Prices From Five Point Two Eight To Seven Point Three Four [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_RangeOfExercisePricesFromFivePointTwoEightToSevenPointThreeFourMember_lbl" xml:lang="en-US">Range Of Exercise Prices From Five Point Two Eight To Seven Point Three Four [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_RangeOfExercisePricesFromFivePointTwoEightToSevenPointThreeFourMember_lbl" xml:lang="en-US">$ 5.28 - $ 7.34 [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_RangeOfExercisePricesFromSevenPointThreeFiveToEightPointThreeFourMember" xlink:label="ndaq_RangeOfExercisePricesFromSevenPointThreeFiveToEightPointThreeFourMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_RangeOfExercisePricesFromSevenPointThreeFiveToEightPointThreeFourMember" xlink:to="ndaq_RangeOfExercisePricesFromSevenPointThreeFiveToEightPointThreeFourMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_RangeOfExercisePricesFromSevenPointThreeFiveToEightPointThreeFourMember_lbl" xml:lang="en-US">Range of Exercise Prices From Seven Point Three Five To Eight Point Three Four [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_RangeOfExercisePricesFromSevenPointThreeFiveToEightPointThreeFourMember_lbl" xml:lang="en-US">Range Of Exercise Prices From Seven Point Three Five To Eight Point Three Four [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_RangeOfExercisePricesFromSevenPointThreeFiveToEightPointThreeFourMember_lbl" xml:lang="en-US">$ 7.35 - $ 8.34 [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_RangeOfExercisePricesFromEightPointThreeFiveToTenPointTwoFourMember" xlink:label="ndaq_RangeOfExercisePricesFromEightPointThreeFiveToTenPointTwoFourMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_RangeOfExercisePricesFromEightPointThreeFiveToTenPointTwoFourMember" xlink:to="ndaq_RangeOfExercisePricesFromEightPointThreeFiveToTenPointTwoFourMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_RangeOfExercisePricesFromEightPointThreeFiveToTenPointTwoFourMember_lbl" xml:lang="en-US">Range of Exercise Prices From Eight Point Three Five To Ten Point Two Four [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_RangeOfExercisePricesFromEightPointThreeFiveToTenPointTwoFourMember_lbl" xml:lang="en-US">Range Of Exercise Prices From Eight Point Three Five To Ten Point Two Four [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_RangeOfExercisePricesFromEightPointThreeFiveToTenPointTwoFourMember_lbl" xml:lang="en-US">$ 8.35 - $10.24 [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_RangeOfExercisePricesFromTenPointTwoFiveToFourteenPointFourNineMember" xlink:label="ndaq_RangeOfExercisePricesFromTenPointTwoFiveToFourteenPointFourNineMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_RangeOfExercisePricesFromTenPointTwoFiveToFourteenPointFourNineMember" xlink:to="ndaq_RangeOfExercisePricesFromTenPointTwoFiveToFourteenPointFourNineMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_RangeOfExercisePricesFromTenPointTwoFiveToFourteenPointFourNineMember_lbl" xml:lang="en-US">Range of Exercise Prices From Ten Point Two Five To Fourteen Point Four Nine [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_RangeOfExercisePricesFromTenPointTwoFiveToFourteenPointFourNineMember_lbl" xml:lang="en-US">Range Of Exercise Prices From Ten Point Two Five To Fourteen Point Four Nine [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_RangeOfExercisePricesFromTenPointTwoFiveToFourteenPointFourNineMember_lbl" xml:lang="en-US">$10.25 - $14.49 [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_RangeOfExercisePricesFromFourteenPointFiveZeroToNineteenPointSixNineMember" xlink:label="ndaq_RangeOfExercisePricesFromFourteenPointFiveZeroToNineteenPointSixNineMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_RangeOfExercisePricesFromFourteenPointFiveZeroToNineteenPointSixNineMember" xlink:to="ndaq_RangeOfExercisePricesFromFourteenPointFiveZeroToNineteenPointSixNineMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_RangeOfExercisePricesFromFourteenPointFiveZeroToNineteenPointSixNineMember_lbl" xml:lang="en-US">Range of Exercise Prices From Fourteen Point Five Zero To Nineteen Point Six Nine [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_RangeOfExercisePricesFromFourteenPointFiveZeroToNineteenPointSixNineMember_lbl" xml:lang="en-US">Range Of Exercise Prices From Fourteen Point Five Zero To Nineteen Point Six Nine [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_RangeOfExercisePricesFromFourteenPointFiveZeroToNineteenPointSixNineMember_lbl" xml:lang="en-US">$14.50 - $19.69 [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_RangeOfExercisePricesFromNineteenPointSevenZeroToTwentyFivePointZeroOneMember" xlink:label="ndaq_RangeOfExercisePricesFromNineteenPointSevenZeroToTwentyFivePointZeroOneMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_RangeOfExercisePricesFromNineteenPointSevenZeroToTwentyFivePointZeroOneMember" xlink:to="ndaq_RangeOfExercisePricesFromNineteenPointSevenZeroToTwentyFivePointZeroOneMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_RangeOfExercisePricesFromNineteenPointSevenZeroToTwentyFivePointZeroOneMember_lbl" xml:lang="en-US">Range of Exercise Prices From Nineteen Point Seven Zero To Twenty Five Point Zero One [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_RangeOfExercisePricesFromNineteenPointSevenZeroToTwentyFivePointZeroOneMember_lbl" xml:lang="en-US">Range Of Exercise Prices From Nineteen Point Seven Zero To Twenty Five Point Zero One [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_RangeOfExercisePricesFromNineteenPointSevenZeroToTwentyFivePointZeroOneMember_lbl" xml:lang="en-US">$19.70 - $25.01 [Member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_RangeOfExercisePricesFromTwentyFivePointZeroTwoToThirtyPointZeroNineMember_lbl" xml:lang="en-US">Range Of Exercise Prices From Twenty Five Point Zero Two To Thirty Point Zero Nine [Member]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_RangeOfExercisePricesFromThirtyPointOneZeroToThirtyFivePointNineOneMember" xlink:to="ndaq_RangeOfExercisePricesFromThirtyPointOneZeroToThirtyFivePointNineOneMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_RangeOfExercisePricesFromThirtyPointOneZeroToThirtyFivePointNineOneMember_lbl" xml:lang="en-US">Range of Exercise Prices From Thirty Point One Zero To Thirty Five Point Nine One [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_RangeOfExercisePricesFromThirtyPointOneZeroToThirtyFivePointNineOneMember_lbl" xml:lang="en-US">Range Of Exercise Prices From Thirty Point One Zero To Thirty Five Point Nine One [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_RangeOfExercisePricesFromThirtyPointOneZeroToThirtyFivePointNineOneMember_lbl" xml:lang="en-US">$30.10 - $35.91 [Member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_RangeOfExercisePricesFromThirtyFivePointNineTwoToThirtyEightPointNineNineMember_lbl" xml:lang="en-US">Range of Exercise Prices From Thirty Five Point Nine Two To Thirty Eight Point Nine Nine [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_RangeOfExercisePricesFromThirtyFivePointNineTwoToThirtyEightPointNineNineMember_lbl" xml:lang="en-US">Range Of Exercise Prices From Thirty Five Point Nine Two To Thirty Eight Point Nine Nine [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_RangeOfExercisePricesFromThirtyFivePointNineTwoToThirtyEightPointNineNineMember_lbl" xml:lang="en-US">$35.92 - $38.99 [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_RangeOfExercisePricesFromThirtyNinePointZeroToFortyTwoPointTwentyEightMember" xlink:label="ndaq_RangeOfExercisePricesFromThirtyNinePointZeroToFortyTwoPointTwentyEightMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_RangeOfExercisePricesFromThirtyNinePointZeroToFortyTwoPointTwentyEightMember" xlink:to="ndaq_RangeOfExercisePricesFromThirtyNinePointZeroToFortyTwoPointTwentyEightMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_RangeOfExercisePricesFromThirtyNinePointZeroToFortyTwoPointTwentyEightMember_lbl" xml:lang="en-US">Range of Exercise Prices From Thirty Nine Point Zero To Forty Two Point Twenty Eight [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_RangeOfExercisePricesFromThirtyNinePointZeroToFortyTwoPointTwentyEightMember_lbl" xml:lang="en-US">Range Of Exercise Prices From Thirty Nine Point Zero To Forty Two Point Twenty Eight [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_RangeOfExercisePricesFromThirtyNinePointZeroToFortyTwoPointTwentyEightMember_lbl" xml:lang="en-US">$39.00 - $42.28 [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_RangeOfExercisePricesFromFortyTwoPointTwoNineToFortyEightPointEightOneMember" xlink:label="ndaq_RangeOfExercisePricesFromFortyTwoPointTwoNineToFortyEightPointEightOneMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_RangeOfExercisePricesFromFortyTwoPointTwoNineToFortyEightPointEightOneMember" xlink:to="ndaq_RangeOfExercisePricesFromFortyTwoPointTwoNineToFortyEightPointEightOneMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_RangeOfExercisePricesFromFortyTwoPointTwoNineToFortyEightPointEightOneMember_lbl" xml:lang="en-US">Range of Exercise Prices From Forty Two Point Two Nine To Forty Eight Point Eight One [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_RangeOfExercisePricesFromFortyTwoPointTwoNineToFortyEightPointEightOneMember_lbl" xml:lang="en-US">Range Of Exercise Prices From Forty Two Point Two Nine To Forty Eight Point Eight One [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_RangeOfExercisePricesFromFortyTwoPointTwoNineToFortyEightPointEightOneMember_lbl" xml:lang="en-US">$42.29 - $48.81 [Member]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems" xlink:to="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems_lbl" xml:lang="en-US">Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions" xlink:to="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_lbl" xml:lang="en-US">Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_lbl" xml:lang="en-US">Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options, Ending Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_lbl" xml:lang="en-US">Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options, Beginning Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_lbl" xml:lang="en-US">Number of Stock Options</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm1" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm1" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm1" xlink:to="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm1_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm1_lbl" xml:lang="en-US">Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm1_lbl" xml:lang="en-US">Weighted-Average Remaining Contractual Term (in years)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1" xlink:to="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_lbl" xml:lang="en-US">Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price, Beginning Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_lbl" xml:lang="en-US">Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price, End of Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_lbl" xml:lang="en-US">Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price, Beginning of Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_lbl" xml:lang="en-US">Weighted-Average Exercise Price</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_lbl" xml:lang="en-US">Aggregate Intrinsic Value, Outstanding, End of Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_lbl" xml:lang="en-US">Aggregate Intrinsic Value, Outstanding, Beginning of Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_lbl" xml:lang="en-US">Aggregate Intrinsic Value</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions" xlink:to="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions_lbl" xml:lang="en-US">Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions_lbl" xml:lang="en-US">Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options, Ending Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions_lbl" xml:lang="en-US">Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options, Beginning Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions_lbl" xml:lang="en-US">Number Exercisable</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm1_lbl" xml:lang="en-US">Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Remaining Contractual Term</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm1_lbl" xml:lang="en-US">Weighted-Average Remaining Contractual Term (in years)</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_lbl" xml:lang="en-US">Aggregate Intrinsic Value, Outstanding, end of period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_lbl" xml:lang="en-US">Aggregate Intrinsic Value, Outstanding, beginning of period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_lbl" xml:lang="en-US">Aggregate Intrinsic Value</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RestrictedStockMember" xlink:label="us-gaap_RestrictedStockMember" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RestrictedStockMember_lbl" xml:lang="en-US">Restricted Stock [Member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_lbl" xml:lang="en-US">Shares of restricted stock and PSUs</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_lbl" xml:lang="en-US">Stock, Granted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_lbl" xml:lang="en-US">PSUs granted</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_lbl" xml:lang="en-US">Stock, Vested</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_lbl" xml:lang="en-US">Stock, vested</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_lbl" xml:lang="en-US">PSUs vested</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_lbl" xml:lang="en-US">Stock, Forfeited</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_lbl" xml:lang="en-US">Stock, forfeited</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_lbl" xml:lang="en-US">PSUs forfeited</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_lbl" xml:lang="en-US">Unvested, fair value, end of period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_lbl" xml:lang="en-US">Unvested, fair value, beginning of period</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl" xml:lang="en-US">Weighted-Average Grant Date Fair Value, Granted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl" xml:lang="en-US">Weighted average grant date fair value granted</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_lbl" xml:lang="en-US">Weighted-Average Grant Date Fair Value, Vested</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_lbl" xml:lang="en-US">Weighted average grant date fair value vested</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriodWeightedAverageGrantDateFairValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriodWeightedAverageGrantDateFairValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriodWeightedAverageGrantDateFairValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriodWeightedAverageGrantDateFairValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriodWeightedAverageGrantDateFairValue_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period, Weighted Average Grant Date Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriodWeightedAverageGrantDateFairValue_lbl" xml:lang="en-US">Weighted-Average Grant Date Fair Value, Forfeited</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriodWeightedAverageGrantDateFairValue_lbl" xml:lang="en-US">Weighted average grant date fair value forfeited</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_StockholdersEquityTable" xlink:label="ndaq_StockholdersEquityTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_StockholdersEquityTable" xlink:to="ndaq_StockholdersEquityTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_StockholdersEquityTable_lbl" xml:lang="en-US">Stockholders' Equity [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_StockholdersEquityTable_lbl" xml:lang="en-US">Stockholders' Equity [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="us-gaap_StatementClassOfStockAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementClassOfStockAxis" xlink:to="us-gaap_StatementClassOfStockAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementClassOfStockAxis_lbl" xml:lang="en-US">Class of Stock [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="us-gaap_ClassOfStockDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfStockDomain" xlink:to="us-gaap_ClassOfStockDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ClassOfStockDomain_lbl" xml:lang="en-US">Class Of Stock [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ClassOfStockDomain_lbl" xml:lang="en-US">Class of Stock [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SeriesAPreferredStockMember" xlink:label="us-gaap_SeriesAPreferredStockMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SeriesAPreferredStockMember" xlink:to="us-gaap_SeriesAPreferredStockMember_lbl" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SeriesAPreferredStockMember_lbl" xml:lang="en-US">Series A Preferred Stock [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_ShareRepurchaseProgramMember" xlink:label="ndaq_ShareRepurchaseProgramMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_ShareRepurchaseProgramMember" xlink:to="ndaq_ShareRepurchaseProgramMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_ShareRepurchaseProgramMember_lbl" xml:lang="en-US">Share Repurchase Program [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_ShareRepurchaseProgramMember_lbl" xml:lang="en-US">Share Repurchase Program [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_ShareRepurchaseProgramMember_lbl" xml:lang="en-US">Share Repurchase Program [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_OtherRepurchasesOfCommonStockMember" xlink:label="ndaq_OtherRepurchasesOfCommonStockMember" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_OtherRepurchasesOfCommonStockMember_lbl" xml:lang="en-US">Other Repurchases of Common Stock [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_OtherRepurchasesOfCommonStockMember_lbl" xml:lang="en-US">Other Repurchases Of Common Stock [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_OtherRepurchasesOfCommonStockMember_lbl" xml:lang="en-US">Other Repurchases Of Common Stock [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_BorseDubaiMember" xlink:label="ndaq_BorseDubaiMember" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_BorseDubaiMember_lbl" xml:lang="en-US">Borse Dubai [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_BorseDubaiMember_lbl" xml:lang="en-US">Borse Dubai [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_BorseDubaiMember_lbl" xml:lang="en-US">Borse Dubai [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_StockholdersEquityLineItems" xlink:label="ndaq_StockholdersEquityLineItems" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_StockholdersEquityLineItems_lbl" xml:lang="en-US">Stockholders Equity [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_StockholdersEquityLineItems_lbl" xml:lang="en-US">Stockholders Equity [Line Items]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_CommonStockHolderVotingRights" xlink:label="ndaq_CommonStockHolderVotingRights" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_CommonStockHolderVotingRights_lbl" xml:lang="en-US">Common Stock Holder Voting Rights</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_CommonStockHolderVotingRights_lbl" xml:lang="en-US">Common Stock Holder Voting Rights</label>
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    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_BoardOfDirectorsAuthorizedShareRepurchaseProgram" xlink:label="ndaq_BoardOfDirectorsAuthorizedShareRepurchaseProgram" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_AverageDailyVolumeWeightedAveragePricePerShare_lbl" xml:lang="en-US">Average daily volume weighted-average price per share.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_AverageDailyVolumeWeightedAveragePricePerShare_lbl" xml:lang="en-US">Average daily volume weighted-average price per share</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentsBeforeTax_lbl" xml:lang="en-US">Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustments Before Tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentsBeforeTax_lbl" xml:lang="en-US">Unrealized Holding Gains (Losses) on Available-For-Sale Investment Securities, Gross balance</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax_lbl" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax, Ending Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax_lbl" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax, Beginning Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax_lbl" xml:lang="en-US">Unrealized Holding Gains(Losses) on Available-For-Sale Investment Securities, Net balance</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentsBeforeTax" xlink:label="ndaq_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentsBeforeTax" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentsBeforeTax_lbl" xml:lang="en-US">Accumulated other comprehensive income loss foreign currency translation adjustments before tax.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentsBeforeTax_lbl" xml:lang="en-US">Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustments Before Tax</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent_lbl" xml:lang="en-US">Foreign Currency Translation Adjustments, Income taxes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent_lbl" xml:lang="en-US">Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax, Portion Attributable to Parent, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax_lbl" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax, Beginning Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax_lbl" xml:lang="en-US">Foreign Currency Translation Adjustments, Net balance</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_AccumulatedOtherComprehensiveIncomeLossEmployeeBenefitPlanAdjustmentBeforeTax" xlink:label="ndaq_AccumulatedOtherComprehensiveIncomeLossEmployeeBenefitPlanAdjustmentBeforeTax" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_AccumulatedOtherComprehensiveIncomeLossEmployeeBenefitPlanAdjustmentBeforeTax_lbl" xml:lang="en-US">Accumulated other comprehensive income loss employee benefit plan adjustment before tax.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_AccumulatedOtherComprehensiveIncomeLossEmployeeBenefitPlanAdjustmentBeforeTax_lbl" xml:lang="en-US">Accumulated Other Comprehensive Income Loss Employee Benefit Plan Adjustment Before Tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ndaq_AccumulatedOtherComprehensiveIncomeLossEmployeeBenefitPlanAdjustmentBeforeTax_lbl" xml:lang="en-US">Employee Benefit Plan Adjustments, Gross balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_AccumulatedOtherComprehensiveIncomeLossEmployeeBenefitPlanAdjustmentBeforeTax_lbl" xml:lang="en-US">Employee Benefit Plan Adjustments, Gross balance</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent" xlink:label="us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent_lbl" xml:lang="en-US">Employee Benefit Plan Adjustments, Income taxes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent_lbl" xml:lang="en-US">Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Tax, Portion Attributable to Parent, Total</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_AccumulatedOtherComprehensiveLossBeforeTax" xlink:label="ndaq_AccumulatedOtherComprehensiveLossBeforeTax" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_AccumulatedOtherComprehensiveLossBeforeTax_lbl" xml:lang="en-US">Accumulated other comprehensive loss before tax.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_AccumulatedOtherComprehensiveLossBeforeTax_lbl" xml:lang="en-US">Accumulated Other Comprehensive Loss Before Tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ndaq_AccumulatedOtherComprehensiveLossBeforeTax_lbl" xml:lang="en-US">Accumulated Other Comprehensive Loss, Gross balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_AccumulatedOtherComprehensiveLossBeforeTax_lbl" xml:lang="en-US">Accumulated Other Comprehensive Loss, Gross balance</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherComprehensiveIncomeLossTaxPortionAttributableToParent_lbl" xml:lang="en-US">Accumulated Other Comprehensive Loss, Income taxes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OtherComprehensiveIncomeLossTaxPortionAttributableToParent_lbl" xml:lang="en-US">Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfEarningsPerShareBasicByCommonClassTable" xlink:label="us-gaap_ScheduleOfEarningsPerShareBasicByCommonClassTable" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_EmployeeEquityAwardsMember_lbl" xml:lang="en-US">Employee Equity Awards [Member]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_lbl" xml:lang="en-US">Net income attributable to common shareholders for diluted earnings per share</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xml:lang="en-US">Weighted average number of shares outstanding, basic</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xml:lang="en-US">Weighted-average common shares outstanding for basic earnings per share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Basic, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:label="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_lbl" xml:lang="en-US">Employee equity awards</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US">Weighted average number of shares outstanding, diluted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US">Weighted-average common shares outstanding for diluted earnings per share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US">Weighted-average common shares outstanding for diluted earnings per share</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueByBalanceSheetGroupingTable" xlink:label="us-gaap_FairValueByBalanceSheetGroupingTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueByBalanceSheetGroupingTable" xlink:to="us-gaap_FairValueByBalanceSheetGroupingTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueByBalanceSheetGroupingTable_lbl" xml:lang="en-US">Fair Value, By Balance Sheet Grouping [Table]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_ThreePointSevenFivePercentConvertibleNotesMember" xlink:label="ndaq_ThreePointSevenFivePercentConvertibleNotesMember" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_ThreePointSevenFivePercentConvertibleNotesMember_lbl" xml:lang="en-US">Three Point Seven Five Percent Convertible Notes [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_ThreePointSevenFivePercentConvertibleNotesMember_lbl" xml:lang="en-US">Three Point Seven Five Percent Convertible Notes [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_ThreePointSevenFivePercentConvertibleNotesMember_lbl" xml:lang="en-US">3.75% Convertible Notes [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:label="us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" />
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    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_FinancialInstrumentResaleAndRepurchaseAgreement" xlink:label="ndaq_FinancialInstrumentResaleAndRepurchaseAgreement" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_FinancialInstrumentResaleAndRepurchaseAgreement" xlink:to="ndaq_FinancialInstrumentResaleAndRepurchaseAgreement_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_FinancialInstrumentResaleAndRepurchaseAgreement_lbl" xml:lang="en-US">Financial Instrument Resale and Repurchase Agreement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_FinancialInstrumentResaleAndRepurchaseAgreement_lbl" xml:lang="en-US">Financial Instrument Resale and Repurchase Agreement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_FinancialInstrumentResaleAndRepurchaseAgreement_lbl" xml:lang="en-US">Financial instrument resale and repurchase agreements at contract value</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_ResaleAndRepurchaseAgreementsMaturities" xlink:label="ndaq_ResaleAndRepurchaseAgreementsMaturities" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_ResaleAndRepurchaseAgreementsMaturities_lbl" xml:lang="en-US">Resale And Repurchase Agreements Maturities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_ResaleAndRepurchaseAgreementsMaturities_lbl" xml:lang="en-US">Resale And Repurchase Agreements Maturities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_ResaleAndRepurchaseAgreementsMaturities_lbl" xml:lang="en-US">Resale and repurchase agreements maturities, days</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ConvertibleDebtFairValueDisclosures" xlink:label="us-gaap_ConvertibleDebtFairValueDisclosures" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConvertibleDebtFairValueDisclosures_lbl" xml:lang="en-US">Convertible Debt, Fair Value Disclosures</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ConvertibleDebtFairValueDisclosures_lbl" xml:lang="en-US">Fair value of debt utilizing discounted cash flow analyses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" />
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    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_InvestmentInDubaiFinancialMarketPjscMember" xlink:label="ndaq_InvestmentInDubaiFinancialMarketPjscMember" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_InvestmentInDubaiFinancialMarketPjscMember_lbl" xml:lang="en-US">Investment in Dubai Financial Market PJSC [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_InvestmentInDubaiFinancialMarketPjscMember_lbl" xml:lang="en-US">Investment In Dubai Financial Market Pjsc [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_InvestmentInDubaiFinancialMarketPjscMember_lbl" xml:lang="en-US">Investment In DFM [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:label="us-gaap_FairValueByFairValueHierarchyLevelAxis" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis, Disclosure Items [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="us-gaap_FairValueMeasurementsFairValueHierarchyDomain" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueMeasurementsFairValueHierarchyDomain_lbl" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis, Disclosure Items [Domain]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_CommodityForwardsAndOptionsMember_lbl" xml:lang="en-US">Commodity Forwards And Options [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_CommodityForwardsAndOptionsMember_lbl" xml:lang="en-US">Commodity Forwards And Options [Member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_FixedIncomeOptionsAndFuturesMember_lbl" xml:lang="en-US">Fixed Income Options And Futures [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_FixedIncomeOptionsAndFuturesMember_lbl" xml:lang="en-US">Fixed Income Options And Futures [Member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_StockOptionsAndFuturesMember_lbl" xml:lang="en-US">Stock Options And Futures [Member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_IndexOptionsAndFuturesMember_lbl" xml:lang="en-US">Index Options And Futures [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_IndexOptionsAndFuturesMember_lbl" xml:lang="en-US">Index Options And Futures [Member]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DerivativesFairValueLineItems" xlink:label="us-gaap_DerivativesFairValueLineItems" />
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DerivativeFairValueOfDerivativeAsset" xlink:label="us-gaap_DerivativeFairValueOfDerivativeAsset" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DerivativeFairValueOfDerivativeLiability_lbl" xml:lang="en-US">Liability</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NotionalAmountOfCashFlowHedgeInstruments" xlink:label="us-gaap_NotionalAmountOfCashFlowHedgeInstruments" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NotionalAmountOfCashFlowHedgeInstruments_lbl" xml:lang="en-US">Interest rate swap agreements that effectively converted senior credit facilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DerivativeNetLiabilityPositionAggregateFairValue" xlink:label="us-gaap_DerivativeNetLiabilityPositionAggregateFairValue" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DerivativeNetLiabilityPositionAggregateFairValue_lbl" xml:lang="en-US">Interest rate swaps in a net liability position</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueHedgesAtFairValueNet" xlink:label="us-gaap_FairValueHedgesAtFairValueNet" />
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashFlowHedgeDerivativeInstrumentAssetsAtFairValue" xlink:to="us-gaap_CashFlowHedgeDerivativeInstrumentAssetsAtFairValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashFlowHedgeDerivativeInstrumentAssetsAtFairValue_lbl" xml:lang="en-US">Cash Flow Hedge Derivative Instrument Assets at Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashFlowHedgeDerivativeInstrumentAssetsAtFairValue_lbl" xml:lang="en-US">Interest rate swaps, Asset</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashFlowHedgeDerivativeInstrumentLiabilitiesAtFairValue" xlink:label="us-gaap_CashFlowHedgeDerivativeInstrumentLiabilitiesAtFairValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashFlowHedgeDerivativeInstrumentLiabilitiesAtFairValue" xlink:to="us-gaap_CashFlowHedgeDerivativeInstrumentLiabilitiesAtFairValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashFlowHedgeDerivativeInstrumentLiabilitiesAtFairValue_lbl" xml:lang="en-US">Cash Flow Hedge Derivative Instrument Liabilities at Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashFlowHedgeDerivativeInstrumentLiabilitiesAtFairValue_lbl" xml:lang="en-US">Interest rate swaps, Liability</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue" xlink:label="us-gaap_ForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue" xlink:to="us-gaap_ForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue_lbl" xml:lang="en-US">Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue_lbl" xml:lang="en-US">Total derivatives not designated as hedging instruments, Asset</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLiabilityAtFairValue" xlink:label="us-gaap_ForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLiabilityAtFairValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLiabilityAtFairValue" xlink:to="us-gaap_ForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLiabilityAtFairValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLiabilityAtFairValue_lbl" xml:lang="en-US">Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLiabilityAtFairValue_lbl" xml:lang="en-US">Total derivatives not designated as hedging instruments, Liability</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DerivativeAssets" xlink:label="us-gaap_DerivativeAssets" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeAssets" xlink:to="us-gaap_DerivativeAssets_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeAssets_lbl" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis, Derivative Financial Instruments, Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DerivativeAssets_lbl" xml:lang="en-US">Financial Assets Measured at Fair Value on a Recurring Basis</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DerivativeAssets_lbl" xml:lang="en-US">Total derivatives, Assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingLeasesRentExpenseNet" xlink:label="us-gaap_OperatingLeasesRentExpenseNet" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesRentExpenseNet" xlink:to="us-gaap_OperatingLeasesRentExpenseNet_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesRentExpenseNet_lbl" xml:lang="en-US">Operating Leases, Rent Expense, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeasesRentExpenseNet_lbl" xml:lang="en-US">Rent expense for operating leases</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingLeasesRentExpenseNet_lbl" xml:lang="en-US">Operating Leases, Rent Expense, Net, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingLeasesRentExpenseSubleaseRentals1" xlink:label="us-gaap_OperatingLeasesRentExpenseSubleaseRentals1" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesRentExpenseSubleaseRentals1" xlink:to="us-gaap_OperatingLeasesRentExpenseSubleaseRentals1_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesRentExpenseSubleaseRentals1_lbl" xml:lang="en-US">Operating Leases, Rent Expense, Sublease Rentals</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeasesRentExpenseSubleaseRentals1_lbl" xml:lang="en-US">Operating sublease income</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_lbl" xml:lang="en-US">Operating Leases, Future Minimum Payments Due, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_lbl" xml:lang="en-US">Gross Lease Commitments, 2012</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_lbl" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due in Two Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_lbl" xml:lang="en-US">Gross Lease Commitments, 2013</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_lbl" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due in Three Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_lbl" xml:lang="en-US">Gross Lease Commitments, 2014</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_lbl" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due in Four Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_lbl" xml:lang="en-US">Gross Lease Commitments, 2015</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_lbl" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due in Five Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_lbl" xml:lang="en-US">Gross Lease Commitments, 2016</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_lbl" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due Thereafter</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_lbl" xml:lang="en-US">Gross Lease Commitments, Thereafter</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDue_lbl" xml:lang="en-US">Operating Leases, Future Minimum Payments Due</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDue_lbl" xml:lang="en-US">Gross lease commitments, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinOneYear" xlink:label="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinOneYear" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinOneYear" xlink:to="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinOneYear_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinOneYear_lbl" xml:lang="en-US">Future Minimum Sublease Rentals, Sale Leaseback Transactions, within One Year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinOneYear_lbl" xml:lang="en-US">Sublease Income, 2012</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinTwoYears" xlink:label="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinTwoYears" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinTwoYears" xlink:to="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinTwoYears_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinTwoYears_lbl" xml:lang="en-US">Future Minimum Sublease Rentals, Sale Leaseback Transactions, within Two Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinTwoYears_lbl" xml:lang="en-US">Sublease Income, 2013</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinThreeYears" xlink:label="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinThreeYears" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinThreeYears" xlink:to="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinThreeYears_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinThreeYears_lbl" xml:lang="en-US">Future Minimum Sublease Rentals, Sale Leaseback Transactions, within Three Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinThreeYears_lbl" xml:lang="en-US">Sublease Income, 2014</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinFourYears" xlink:label="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinFourYears" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinFourYears" xlink:to="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinFourYears_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinFourYears_lbl" xml:lang="en-US">Future Minimum Sublease Rentals, Sale Leaseback Transactions, within Four Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinFourYears_lbl" xml:lang="en-US">Sublease Income, 2015</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinFiveYears" xlink:label="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinFiveYears" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinFiveYears" xlink:to="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinFiveYears_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinFiveYears_lbl" xml:lang="en-US">Future Minimum Sublease Rentals, Sale Leaseback Transactions, within Five Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinFiveYears_lbl" xml:lang="en-US">Sublease Income, 2016</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsThereafter" xlink:label="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsThereafter" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsThereafter" xlink:to="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsThereafter_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsThereafter_lbl" xml:lang="en-US">Future Minimum Sublease Rentals, Sale Leaseback Transactions, Thereafter</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsThereafter_lbl" xml:lang="en-US">Sublease Income, Thereafter</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactions" xlink:label="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactions" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactions" xlink:to="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactions_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactions_lbl" xml:lang="en-US">Future Minimum Sublease Rentals, Sale Leaseback Transactions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactions_lbl" xml:lang="en-US">Sublease Income, Total</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_OperatingLeasesFutureMinimumPaymentsDueNetCurrent" xlink:label="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetCurrent" xlink:to="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetCurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetCurrent_lbl" xml:lang="en-US">Operating Leases Future Minimum Payments Due Net Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetCurrent_lbl" xml:lang="en-US">Operating Leases Future Minimum Payments Due Net Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetCurrent_lbl" xml:lang="en-US">Net Lease Commitments, 2012</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_OperatingLeasesFutureMinimumPaymentsDueNetWithinTwoYears" xlink:label="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetWithinTwoYears" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetWithinTwoYears" xlink:to="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetWithinTwoYears_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetWithinTwoYears_lbl" xml:lang="en-US">Operating Leases Future Minimum Payments Due Net Within Two Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetWithinTwoYears_lbl" xml:lang="en-US">Operating Leases Future Minimum Payments Due Net Within Two Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetWithinTwoYears_lbl" xml:lang="en-US">Net Lease Commitments, 2013</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_OperatingLeasesFutureMinimumPaymentsDueNetWithinThreeYears" xlink:label="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetWithinThreeYears" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetWithinThreeYears" xlink:to="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetWithinThreeYears_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetWithinThreeYears_lbl" xml:lang="en-US">Operating Leases Future Minimum Payments Due Net Within Three Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetWithinThreeYears_lbl" xml:lang="en-US">Operating Leases Future Minimum Payments Due Net Within Three Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetWithinThreeYears_lbl" xml:lang="en-US">Net Lease Commitments, 2014</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_OperatingLeasesFutureMinimumPaymentsDueNetWithinFourYears" xlink:label="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetWithinFourYears" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetWithinFourYears" xlink:to="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetWithinFourYears_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetWithinFourYears_lbl" xml:lang="en-US">Operating Leases Future Minimum Payments Due Net Within Four Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetWithinFourYears_lbl" xml:lang="en-US">Operating Leases Future Minimum Payments Due Net Within Four Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetWithinFourYears_lbl" xml:lang="en-US">Net Lease Commitments, 2015</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_OperatingLeasesFutureMinimumPaymentsDueNetWithinFiveYears" xlink:label="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetWithinFiveYears" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetWithinFiveYears" xlink:to="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetWithinFiveYears_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetWithinFiveYears_lbl" xml:lang="en-US">Operating Leases Future Minimum Payments Due Net Within Five Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetWithinFiveYears_lbl" xml:lang="en-US">Operating Leases Future Minimum Payments Due Net Within Five Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetWithinFiveYears_lbl" xml:lang="en-US">Net Lease Commitments, 2016</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_OperatingLeasesFutureMinimumPaymentsDueNetThereafter" xlink:label="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetThereafter" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetThereafter" xlink:to="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetThereafter_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetThereafter_lbl" xml:lang="en-US">Operating Leases Future Minimum Payments Due Net Thereafter</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetThereafter_lbl" xml:lang="en-US">Operating Leases Future Minimum Payments Due Net Thereafter</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetThereafter_lbl" xml:lang="en-US">Net Lease Commitments, Thereafter</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_OperatingLeasesFutureMinimumPaymentsDueNetTotal" xlink:label="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetTotal" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetTotal" xlink:to="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetTotal_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetTotal_lbl" xml:lang="en-US">Operating Leases Future Minimum Payments Due Net Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetTotal_lbl" xml:lang="en-US">Operating Leases Future Minimum Payments Due Net Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ndaq_OperatingLeasesFutureMinimumPaymentsDueNetTotal_lbl" xml:lang="en-US">Net Lease Commitments, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LossContingenciesTable" xlink:label="us-gaap_LossContingenciesTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingenciesTable" xlink:to="us-gaap_LossContingenciesTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LossContingenciesTable_lbl" xml:lang="en-US">Loss Contingencies [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LossContingenciesByNatureOfContingencyAxis" xlink:label="us-gaap_LossContingenciesByNatureOfContingencyAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingenciesByNatureOfContingencyAxis" xlink:to="us-gaap_LossContingenciesByNatureOfContingencyAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LossContingenciesByNatureOfContingencyAxis_lbl" xml:lang="en-US">Loss Contingencies by Nature of Contingency [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LossContingencyNatureDomain" xlink:label="us-gaap_LossContingencyNatureDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingencyNatureDomain" xlink:to="us-gaap_LossContingencyNatureDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LossContingencyNatureDomain_lbl" xml:lang="en-US">Loss Contingency Nature [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LossContingencyNatureDomain_lbl" xml:lang="en-US">Loss Contingency, Nature [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PerformanceGuaranteeMember" xlink:label="us-gaap_PerformanceGuaranteeMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PerformanceGuaranteeMember" xlink:to="us-gaap_PerformanceGuaranteeMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PerformanceGuaranteeMember_lbl" xml:lang="en-US">Performance Guarantee [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PerformanceGuaranteeMember_lbl" xml:lang="en-US">Performance Guarantees [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_WhollyOwnedSubsidiaryMember" xlink:label="ndaq_WhollyOwnedSubsidiaryMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_WhollyOwnedSubsidiaryMember" xlink:to="ndaq_WhollyOwnedSubsidiaryMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_WhollyOwnedSubsidiaryMember_lbl" xml:lang="en-US">Wholly-owned Subsidiary [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_WhollyOwnedSubsidiaryMember_lbl" xml:lang="en-US">Wholly Owned Subsidiary [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_WhollyOwnedSubsidiaryMember_lbl" xml:lang="en-US">Wholly-Owned Subsidiary [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_BrokerageActivitiesMember" xlink:label="ndaq_BrokerageActivitiesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_BrokerageActivitiesMember" xlink:to="ndaq_BrokerageActivitiesMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_BrokerageActivitiesMember_lbl" xml:lang="en-US">Brokerage Activities [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_BrokerageActivitiesMember_lbl" xml:lang="en-US">Brokerage Activities [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_BrokerageActivitiesMember_lbl" xml:lang="en-US">Brokerage Activities [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_NasdaqOmxCommoditiesAndNasdaqOmxStockholmMember" xlink:label="ndaq_NasdaqOmxCommoditiesAndNasdaqOmxStockholmMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_NasdaqOmxCommoditiesAndNasdaqOmxStockholmMember" xlink:to="ndaq_NasdaqOmxCommoditiesAndNasdaqOmxStockholmMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_NasdaqOmxCommoditiesAndNasdaqOmxStockholmMember_lbl" xml:lang="en-US">NASDAQ OMX Commodities And NASDAQ OMX Stockholm [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_NasdaqOmxCommoditiesAndNasdaqOmxStockholmMember_lbl" xml:lang="en-US">Nasdaq Omx Commodities And Nasdaq Omx Stockholm [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_NasdaqOmxCommoditiesAndNasdaqOmxStockholmMember_lbl" xml:lang="en-US">NASDAQ OMX Commodities And NASDAQ OMX Stockholm [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LossContingenciesLineItems" xlink:label="us-gaap_LossContingenciesLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingenciesLineItems" xlink:to="us-gaap_LossContingenciesLineItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LossContingenciesLineItems_lbl" xml:lang="en-US">Loss Contingencies [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DepositLiabilitiesCollateralIssuedFinancialInstruments" xlink:label="us-gaap_DepositLiabilitiesCollateralIssuedFinancialInstruments" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepositLiabilitiesCollateralIssuedFinancialInstruments" xlink:to="us-gaap_DepositLiabilitiesCollateralIssuedFinancialInstruments_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DepositLiabilitiesCollateralIssuedFinancialInstruments_lbl" xml:lang="en-US">Deposit Liabilities, Collateral Issued, Financial Instruments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DepositLiabilitiesCollateralIssuedFinancialInstruments_lbl" xml:lang="en-US">Customer collateral pledged to NASDAQ OMX in event of customer default</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_CreditFacilityUsedDuringPeriod" xlink:label="ndaq_CreditFacilityUsedDuringPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_CreditFacilityUsedDuringPeriod" xlink:to="ndaq_CreditFacilityUsedDuringPeriod_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_CreditFacilityUsedDuringPeriod_lbl" xml:lang="en-US">Credit Facility Used During Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_CreditFacilityUsedDuringPeriod_lbl" xml:lang="en-US">Credit Facility Used During Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_CreditFacilityUsedDuringPeriod_lbl" xml:lang="en-US">Credit facility used</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LossContingencyLossInPeriod" xlink:label="us-gaap_LossContingencyLossInPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingencyLossInPeriod" xlink:to="us-gaap_LossContingencyLossInPeriod_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LossContingencyLossInPeriod_lbl" xml:lang="en-US">Loss Contingency, Loss in Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LossContingencyLossInPeriod_lbl" xml:lang="en-US">Contingent liability</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_OtherGuarantees" xlink:label="ndaq_OtherGuarantees" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_OtherGuarantees" xlink:to="ndaq_OtherGuarantees_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_OtherGuarantees_lbl" xml:lang="en-US">Other Guarantees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_OtherGuarantees_lbl" xml:lang="en-US">Other Guarantees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_OtherGuarantees_lbl" xml:lang="en-US">Other guarantees</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashCollateralForBorrowedSecurities" xlink:label="us-gaap_CashCollateralForBorrowedSecurities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashCollateralForBorrowedSecurities" xlink:to="us-gaap_CashCollateralForBorrowedSecurities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashCollateralForBorrowedSecurities_lbl" xml:lang="en-US">Cash Collateral for Borrowed Securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashCollateralForBorrowedSecurities_lbl" xml:lang="en-US">Cash collateral for borrowed securities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SecuritiesHeldAsCollateralAtFairValue" xlink:label="us-gaap_SecuritiesHeldAsCollateralAtFairValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SecuritiesHeldAsCollateralAtFairValue" xlink:to="us-gaap_SecuritiesHeldAsCollateralAtFairValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SecuritiesHeldAsCollateralAtFairValue_lbl" xml:lang="en-US">Securities Held as Collateral, at Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SecuritiesHeldAsCollateralAtFairValue_lbl" xml:lang="en-US">Securities held as collateral, at fair value</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_EscrowAgreementsAmount" xlink:label="ndaq_EscrowAgreementsAmount" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_EscrowAgreementsAmount" xlink:to="ndaq_EscrowAgreementsAmount_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_EscrowAgreementsAmount_lbl" xml:lang="en-US">Escrow agreements amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_EscrowAgreementsAmount_lbl" xml:lang="en-US">Escrow Agreements Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_EscrowAgreementsAmount_lbl" xml:lang="en-US">Escrow agreements</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:to="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_lbl" xml:lang="en-US">Schedule Of Segment Reporting Information, By Segment [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LineOfCreditFacilityAxis" xlink:label="us-gaap_LineOfCreditFacilityAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityAxis" xlink:to="us-gaap_LineOfCreditFacilityAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityAxis_lbl" xml:lang="en-US">Line of Credit Facility [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LineOfCreditFacilityLenderDomain" xlink:label="us-gaap_LineOfCreditFacilityLenderDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityLenderDomain" xlink:to="us-gaap_LineOfCreditFacilityLenderDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityLenderDomain_lbl" xml:lang="en-US">Line Of Credit Facility Lender [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LineOfCreditFacilityLenderDomain_lbl" xml:lang="en-US">Line of Credit Facility, Lender [Domain]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_SeniorSecuredCreditFacilitiesMember" xlink:label="ndaq_SeniorSecuredCreditFacilitiesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_SeniorSecuredCreditFacilitiesMember" xlink:to="ndaq_SeniorSecuredCreditFacilitiesMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_SeniorSecuredCreditFacilitiesMember_lbl" xml:lang="en-US">Senior Secured Credit Facilities Member.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_SeniorSecuredCreditFacilitiesMember_lbl" xml:lang="en-US">Senior Secured Credit Facilities [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_SeniorSecuredCreditFacilitiesMember_lbl" xml:lang="en-US">Senior Secured Credit Facilities [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_CorporateItemAndEliminationsMember" xlink:label="ndaq_CorporateItemAndEliminationsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_CorporateItemAndEliminationsMember" xlink:to="ndaq_CorporateItemAndEliminationsMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_CorporateItemAndEliminationsMember_lbl" xml:lang="en-US">Corporate Item and Eliminations [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_CorporateItemAndEliminationsMember_lbl" xml:lang="en-US">Corporate Item And Eliminations [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_CorporateItemAndEliminationsMember_lbl" xml:lang="en-US">Corporate Items And Eliminations [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_NeuroMember" xlink:label="ndaq_NeuroMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_NeuroMember" xlink:to="ndaq_NeuroMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_NeuroMember_lbl" xml:lang="en-US">Neuro [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_NeuroMember_lbl" xml:lang="en-US">Neuro [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_NeuroMember_lbl" xml:lang="en-US">NEURO [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_AgoraXMember" xlink:label="ndaq_AgoraXMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_AgoraXMember" xlink:to="ndaq_AgoraXMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_AgoraXMember_lbl" xml:lang="en-US">Agora-X [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_AgoraXMember_lbl" xml:lang="en-US">Agora X [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_AgoraXMember_lbl" xml:lang="en-US">Agora-X [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_NeuroAndAgoraXMember" xlink:label="ndaq_NeuroAndAgoraXMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_NeuroAndAgoraXMember" xlink:to="ndaq_NeuroAndAgoraXMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_NeuroAndAgoraXMember_lbl" xml:lang="en-US">NEURO And Agora-X [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_NeuroAndAgoraXMember_lbl" xml:lang="en-US">Neuro And Agora X [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_NeuroAndAgoraXMember_lbl" xml:lang="en-US">NEURO And Agora-X [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SegmentReportingInformationLineItems" xlink:label="us-gaap_SegmentReportingInformationLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingInformationLineItems" xlink:to="us-gaap_SegmentReportingInformationLineItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SegmentReportingInformationLineItems_lbl" xml:lang="en-US">Segment Reporting Information [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestIncomeExpenseNet" xlink:label="us-gaap_InterestIncomeExpenseNet" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestIncomeExpenseNet" xlink:to="us-gaap_InterestIncomeExpenseNet_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestIncomeExpenseNet_lbl" xml:lang="en-US">Interest Income (Expense), Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InterestIncomeExpenseNet_lbl" xml:lang="en-US">Net interest expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_InterestIncomeExpenseNet_lbl" xml:lang="en-US">Interest Income (Expense), Net, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingAssets" xlink:label="us-gaap_IncreaseDecreaseInOperatingAssets" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOperatingAssets" xlink:to="us-gaap_IncreaseDecreaseInOperatingAssets_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOperatingAssets_lbl" xml:lang="en-US">Increase (Decrease) in Operating Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInOperatingAssets_lbl" xml:lang="en-US">Increase decrease in assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncreaseDecreaseInOperatingAssets_lbl" xml:lang="en-US">Increase (Decrease) in Operating Assets, Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LossOnSaleOfInvestments" xlink:label="us-gaap_LossOnSaleOfInvestments" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossOnSaleOfInvestments" xlink:to="us-gaap_LossOnSaleOfInvestments_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LossOnSaleOfInvestments_lbl" xml:lang="en-US">Loss on Sale of Investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LossOnSaleOfInvestments_lbl" xml:lang="en-US">Loss on sale of investment security</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_NumberOfCustomerAccounted" xlink:label="ndaq_NumberOfCustomerAccounted" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_NumberOfCustomerAccounted" xlink:to="ndaq_NumberOfCustomerAccounted_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_NumberOfCustomerAccounted_lbl" xml:lang="en-US">Number Of Customer Accounted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_NumberOfCustomerAccounted_lbl" xml:lang="en-US">Number Of Customer Accounted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_NumberOfCustomerAccounted_lbl" xml:lang="en-US">Number of customers</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_MinimumRevenueAccountedPercentage" xlink:label="ndaq_MinimumRevenueAccountedPercentage" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_MinimumRevenueAccountedPercentage" xlink:to="ndaq_MinimumRevenueAccountedPercentage_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_MinimumRevenueAccountedPercentage_lbl" xml:lang="en-US">Minimum Revenue Accounted Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_MinimumRevenueAccountedPercentage_lbl" xml:lang="en-US">Minimum Revenue Accounted Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_MinimumRevenueAccountedPercentage_lbl" xml:lang="en-US">Minimum revenue rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ndaq_MinimumRevenueAccountedPercentage_lbl" xml:lang="en-US">Minimum revenue accounted percentage</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ValuationAllowancesAndReservesBalance" xlink:label="us-gaap_ValuationAllowancesAndReservesBalance" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ValuationAllowancesAndReservesBalance" xlink:to="us-gaap_ValuationAllowancesAndReservesBalance_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ValuationAllowancesAndReservesBalance_lbl" xml:lang="en-US">Valuation Allowances and Reserves, Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_ValuationAllowancesAndReservesBalance_lbl" xml:lang="en-US">Balance at end of period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_ValuationAllowancesAndReservesBalance_lbl" xml:lang="en-US">Balance at beginning of period</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ValuationAllowancesAndReservesChargedToCostAndExpense" xlink:label="us-gaap_ValuationAllowancesAndReservesChargedToCostAndExpense" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ValuationAllowancesAndReservesChargedToCostAndExpense" xlink:to="us-gaap_ValuationAllowancesAndReservesChargedToCostAndExpense_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ValuationAllowancesAndReservesChargedToCostAndExpense_lbl" xml:lang="en-US">Valuation Allowances and Reserves, Charged to Cost and Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_ValuationAllowancesAndReservesChargedToCostAndExpense_lbl" xml:lang="en-US">Valuation Allowances and Reserves, Charged to Cost and Expense, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ValuationAllowancesAndReservesChargedToCostAndExpense_lbl" xml:lang="en-US">Charges to income</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ValuationAllowancesAndReservesRecoveries" xlink:label="us-gaap_ValuationAllowancesAndReservesRecoveries" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ValuationAllowancesAndReservesRecoveries" xlink:to="us-gaap_ValuationAllowancesAndReservesRecoveries_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ValuationAllowancesAndReservesRecoveries_lbl" xml:lang="en-US">Valuation Allowances and Reserves, Recoveries</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_ValuationAllowancesAndReservesRecoveries_lbl" xml:lang="en-US">Valuation Allowances and Reserves, Recoveries, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ValuationAllowancesAndReservesRecoveries_lbl" xml:lang="en-US">Recoveries of amounts previously written-off</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_ValuationAllowancesAndReservesChargesForReservesProvided" xlink:label="ndaq_ValuationAllowancesAndReservesChargesForReservesProvided" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_ValuationAllowancesAndReservesChargesForReservesProvided" xlink:to="ndaq_ValuationAllowancesAndReservesChargesForReservesProvided_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_ValuationAllowancesAndReservesChargesForReservesProvided_lbl" xml:lang="en-US">Valuation Allowances And Reserves Charges For Reserves Provided</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_ValuationAllowancesAndReservesChargesForReservesProvided_lbl" xml:lang="en-US">Valuation Allowances And Reserves Charges For Reserves Provided</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_ValuationAllowancesAndReservesChargesForReservesProvided_lbl" xml:lang="en-US">Charges for which reserves were provided</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementScenarioAxis" xlink:label="us-gaap_StatementScenarioAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementScenarioAxis" xlink:to="us-gaap_StatementScenarioAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementScenarioAxis_lbl" xml:lang="en-US">Statement, Scenario [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScenarioUnspecifiedDomain" xlink:label="us-gaap_ScenarioUnspecifiedDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScenarioUnspecifiedDomain" xlink:to="us-gaap_ScenarioUnspecifiedDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScenarioUnspecifiedDomain_lbl" xml:lang="en-US">Scenario Unspecified [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScenarioUnspecifiedDomain_lbl" xml:lang="en-US">Scenario, Unspecified [Domain]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_OtherRevenuesMember" xlink:label="ndaq_OtherRevenuesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_OtherRevenuesMember" xlink:to="ndaq_OtherRevenuesMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_OtherRevenuesMember_lbl" xml:lang="en-US">Other Revenues [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_OtherRevenuesMember_lbl" xml:lang="en-US">Other Revenues [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ndaq_OtherRevenuesMember_lbl" xml:lang="en-US">Other [Member]</label>
    <loc xlink:type="locator" xlink:href="ndaq-20111231.xsd#ndaq_ExchangeAxis" xlink:label="ndaq_ExchangeAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ndaq_ExchangeAxis" xlink:to="ndaq_ExchangeAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ndaq_ExchangeAxis_lbl" xml:lang="en-US">Exchange [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ndaq_ExchangeAxis_lbl" xml:lang="en-US">Exchange [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_ExchangeDomain" xlink:label="dei_ExchangeDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_ExchangeDomain" xlink:to="dei_ExchangeDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_ExchangeDomain_lbl" xml:lang="en-US">Exchange [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_ExchangeDomain_lbl" xml:lang="en-US">Exchange [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/exch/2011/exch-2011-01-31.xsd#exch_XBOS" xlink:label="exch_XBOS" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="exch_XBOS" xlink:to="exch_XBOS_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="exch_XBOS_lbl" xml:lang="en-US">X B O [S]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="exch_XBOS_lbl" xml:lang="en-US">NASDAQ OMX BX [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/exch/2011/exch-2011-01-31.xsd#exch_XPHL" xlink:label="exch_XPHL" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="exch_XPHL" xlink:to="exch_XPHL_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="exch_XPHL_lbl" xml:lang="en-US">X P H [L]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="exch_XPHL_lbl" xml:lang="en-US">NASDAQ OMX PHLX [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/exch/2011/exch-2011-01-31.xsd#exch_XNDQ" xlink:label="exch_XNDQ" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="exch_XNDQ" xlink:to="exch_XNDQ_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="exch_XNDQ_lbl" xml:lang="en-US">X N D [Q]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="exch_XNDQ_lbl" xml:lang="en-US">NASDAQ Options Market [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/exch/2011/exch-2011-01-31.xsd#exch_XSTO" xlink:label="exch_XSTO" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="exch_XSTO" xlink:to="exch_XSTO_lbl" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="exch_XSTO_lbl" xml:lang="en-US">NASDAQ OMX NORDIC [Member]</label>
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