Exhibit 23.1



We consent to the reference to our firm under the caption "Experts" in
Amendment No. 1 to the Registration Statement (Form S-8 No. 333-70992) and
related Reoffer Prospectus pertaining to The Nasdaq Stock Market, Inc.
Equity Incentive Plan and to the incorporation by reference therein of our
report dated January 26, 2001, except for Note 4 as to which the date is
August 17, 2001, with respect to the consolidated financial statements of
The Nasdaq Stock Market, Inc. included in its Form 10 (File No. 000-32651)
for the year ended December 31, 2000, filed with the U.S. Securities and
Exchange Commission.

                                                        /s/ Ernst & Young LLP

New York, New York
November 6, 2001