Filed by Alpha Beta Netherlands Holding N.V.

Pursuant to Rule 425 under the Securities Act of 1933, and

deemed filed pursuant to Rule 14a-12 under the

Securities Exchange Act of 1934

Subject Companies:

NYSE Euronext

(Commission File No. 001-33392)

Deutsche Börse

May 10, 2011

UBS Global Financial Services Conference May 10, 2011 © NYSE Euronext. All Rights Reserved.

2 Legal Disclaimer Cautionary Note Regarding Forward-Looking Statements This presentation may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext’s plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward- looking statements are based on NYSE Euronext’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause NYSE Euronext’s results to differ materially from current expectations include, but are not limited to: NYSE Euronext’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Euronext’s reference document for 2010 ("document de référence") filed with the French Autorité des Marchés Financiers (Filed on April 19, 2011 under No. D.11-0333), 2010 Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorité des Marchés Financiers. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Euronext that the projections will prove to be correct. This presentation speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein. To supplement NYSE Euronext's consolidated financial statements prepared in accordance with GAAP and to better reflect period-over-period comparisons, NYSE Euronext uses non-GAAP financial measures of performance, financial position, or cash flows that either exclude or include amounts that are not normally excluded or included in the most directly comparable measure, calculated and presented in accordance with GAAP. Non-GAAP financial measures do not replace and are not superior to the presentation of GAAP financial results, but are provided to (i) present the effects of certain merger expenses, exit costs and other special items, and (ii) improve overall understanding of NYSE Euronext's current financial performance and its prospects for the future. Specifically, NYSE Euronext believes the non- GAAP financial results provide useful information to both management and investors regarding certain additional financial and business trends relating to financial condition and operating results. In addition, management uses these measures for reviewing financial results and evaluating financial performance. The non-GAAP adjustments for all periods presented are based upon information and assumptions available as of the date of this release. See NYSE Euronext’s earnings release dated April 28, 2011 for a reconciliation of non-GAAP financial measures to GAAP measures.

3 Legal Disclaimer IMPORTANT INFORMATION NYSE Euronext will file a Solicitation/Recommendation Statement on Schedule 14D-9 in the event that Nasdaq OMX Group, Inc. and/or IntercontinentalExchange Inc. commences a tender offer for the outstanding shares of NYSE Euronext common stock. NYSE Euronext stockholders are strongly encouraged to read the Solicitation/Recommendation Statement if and when it becomes available, as it will contain important information. Stockholders will be able to obtain this Solicitation/Recommendation Statement, any amendments or supplements to the proxy statement and other documents filed by NYSE Euronext with the Securities and Exchange Commission for free at the Internet website maintained by the Securities and Exchange Commission at www.sec.gov. Copies of the Solicitation/Recommendation Statement and any amendments and supplements to the Solicitation/Recommendation Statement will also be available for free at NYSE Euronext's website at www.nyse.com. In connection with the proposed business combination transaction between NYSE Euronext and Deutsche Boerse AG, Alpha Beta Netherlands Holding N.V. (“Holding”), a newly formed holding company, has filed, and the SEC has declared effective on May 3, 2011, a Registration Statement on Form F-4 with the U.S. Securities and Exchange Commission (“SEC”) that includes (1) a proxy statement of NYSE Euronext that will also constitute a prospectus for Holding and (2) an offering prospectus of Holding to be used in connection with Holding’s offer to acquire Deutsche Boerse AG shares held by U.S. holders. NYSE Euronext will mail the definitive proxy statement/prospectus (when finalized) to its stockholders in connection with the vote to approve the merger of NYSE Euronext and a wholly owned subsidiary of Holding, and Holding will mail the offering prospectus to Deutsche Boerse AG shareholders in the United States in connection with Holding’s offer to acquire all of the outstanding shares of Deutsche Boerse AG. Holding has also filed an offer document with the German Federal Financial Supervisory Authority (Bundesanstalt fuer Finanzdienstleistungsaufsicht) (“BaFin”), which was approved by the BaFin for publication pursuant to the German Takeover Act (Wertpapiererwerbs-und Übernahmegesetz) on May 2, 2011, and was published on May 4, 2011.  Investors and security holders are urged to read the definitive proxy statement/prospectus (when it becomes available), the offering prospectus and the offer document regarding the proposed business combination transaction because they contain important information. You may obtain a free copy of the definitive proxy statement/prospectus (when it becomes available), the offering prospectus and other related documents filed by NYSE Euronext and Holding with the SEC on the SEC’s Web site at www.sec.gov. The definitive proxy statement/prospectus (when it becomes available) and other documents relating thereto may also be obtained for free by accessing NYSE Euronext’s Web site at www.nyse.com. The offer document is available at Holding’s Web site at www.global-exchange-operator.com.  This document is neither an offer to purchase nor a solicitation of an offer to sell shares of Holding, Deutsche Boerse AG or NYSE Euronext. The final terms and further provisions regarding the public offer are disclosed in the offer document that has been approved by the BaFin and in documents that have been filed with the SEC.  No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended, and applicable European regulations. Subject to certain exceptions to be approved by the relevant regulators or certain facts to be ascertained, the public offer is not being made directly or indirectly in or into any jurisdiction where to do so would constitute a violation of the laws of such jurisdiction, or by use of the mails or by any means or instrumentality (including without limitation, facsimile transmission, telephone and the internet) of interstate or foreign commerce, or any facility of a national securities exchange, of any such jurisdiction.  This announcement and related materials do not constitute in France an offer for ordinary shares in Holding. The relevant final terms of the proposed business combination transaction will be disclosed in the information documents reviewed by the competent European market authorities.  Participants in the Solicitation NYSE Euronext, Deutsche Boerse AG, Holding and their respective directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from NYSE Euronext stockholders in respect of the proposed business combination transaction. Additional information regarding the interests of such potential participants will be included in the definitive proxy statement/prospectus and the other relevant documents filed with the SEC when they become available.  Forward-Looking Statements This document includes forward-looking statements about NYSE Euronext, Deutsche Boerse AG, Holding, the enlarged group and other persons, which may include statements about the proposed business combination, the likelihood that such transaction could be consummated, the effects of any transaction on the businesses of NYSE Euronext or Deutsche Boerse AG, and other statements that are not historical facts. By their nature, forward- looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance and actual results of operations, financial condition and liquidity, and the development of the industries in which NYSE Euronext and Deutsche Boerse AG operate may differ materially from those made in or suggested by the forward-looking statements contained in this document. Any forward-looking statements speak only as at the date of this document. Except as required by applicable law, none of NYSE Euronext, Deutsche Boerse AG or Holding undertakes any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise.

4 Moving Forward from a Position of Strength Strong first quarter highlights strength and operating leverage of model Further evidence of our ongoing transformation Executing our strategy to generate shareholder value 2009: Focus on Getting “Fighting Fit” 2010: Shifting to Growth 2011: Continue Driving Value Strong shareholder returns validate our direction Proposed combination with Deutsche Börse accelerates successful strategy Positioned to lead industry evolution Substantial balance sheet strength Merger on-track to deliver greater synergies in shorter time frame

5 Strong Performance Across the Platform Cash Trading and Listings 312 310 328 1Q10 4Q10 1Q11 Derivatives Info. Services and Tech Solutions Net Revenue 1 ($ in millions) Operating Income 2 ($ in millions) Operating Margin (%) NYSE Euronext Consolidated Primary Segments 224 188 236 1Q10 4Q10 1Q11 645 613 679 1Q10 4Q10 1Q11 106 99 125 1Q10 4Q10 1Q11 130 91 146 1Q10 4Q10 1Q11 218 188 264 1Q10 4Q10 1Q11 34 32 38 1Q10 4Q10 1Q11 58 48 62 1Q10 4Q10 1Q11 34 31 39 1Q10 4Q10 1Q11 15 25 24 1Q10 4Q10 1Q11 110 114 116 1Q10 4Q10 1Q11 17 28 28 1Q10 4Q10 1Q11 Notes: 1. Defined as total revenues, less transaction-based  expenses comprised of Section 31 fees, liquidity payments and routing and clearing fees. Information Services and Tech     Solutions are total revenue. 2. Excludes impact of merger expenses and exit costs.

6 Strong Q1 Powered by Execution Against Our Strategy NYSE NYSE Amex NYSE Arca Euronext NYSE Arca NYSE Liffe NYSE Amex NYSE Liffe U.S. Market Data Transaction Services Infra- structure Derivatives Cash Trading and Listings Information Services and Technology Solutions # 1 in global IPOs in 1Q11 Over 90% market share of U.S. proceeds raised 2 companies transferred from Nasdaq with 2 additional transfers announced, building on 14 transfers in 2010 European cash trading ADV up 32% YoY and 29% QoQ Improved U.S. cash equities trading revenue, market share stable Successful launch of NYSE Liffe U.S. and NYPC Market share of approximately 2-3% of Eurodollars Open interest growing Breadth of client activity continues to expand with strong pipeline of meaningful market participants Rebound in NYSE Liffe volumes in 1Q11 up 34% QoQ (ex. Bclear) U.S. Options ADV up 19% YoY and QoQ Record quarterly revenue; operating margins of 24% Successful launch of MTF for Goldman Sachs; hosted and managed by NYSE Technologies Migration to Mahwah for NYSE Arca 1st major “Infrastructure-as- a-Service” deal signed with tier 1 financial services firm

0 40,000 80,000 120,000 160,000 21-Mar 1-Apr 12-Apr 23-Apr 4-May 7 The Strategy Illustrated: Innovation and Collaboration + NYSE Liffe in Europe sponsors initiative with proprietary, proven technology Existing clients natural equity partners Global client base already connected via the SFTI network Long-standing partnership with DTCC Provides unprecedented level of transparency reducing systemic risk Eliminates split-margin pools and provides capital efficiency Value of the Community Results Existing client relationships enabled partnership with critical industry players from sell-side, buy-side and retail NYSE floor, NYSE Arca options technology and options operations scaled with minimal new cost 14% market share developed from ~$100 million acquisition cost NYSE Liffe U.S. Eurodollar Futures Open Interest 5.9 13.9 4Q08 1Q11 AMEX Market Share of U.S. Equity Options (%) 1 Note: 1. Represents close of acquisition date.

The Strategy Illustrated: Seizing the Opportunity for NYSE Technologies Execution venue fragmentation Global asset correlation Trading technology commoditization High-frequency trading Cost pressures Regulatory uncertainty/change EU and Asia following similar maturity path as the U.S. 8 Structural Changes in Global Financial Markets Are Driving Demand for Infrastructure, Data and Transaction Services Industry Trends Driving New Demands Opportunity Global market access – Integration of venues / participants – Aggregation & dissemination of information Cost-effective, ultra-low latency Advanced trading platforms available “as a service” Risk management Build the leading technology services franchise for the global investment community $1 billion in revenue by 2015 with operating margins of 25 – 30% • FIX Certification & On-boarding • Low Latency Channels • FIX Engines, Market Access Gateways • Configurable Order Routing • Risk Management and Sponsored Access • Universal Trading Platform (“UTP”) Current NYSE Technologies Product Offerings • SuperFeed, OneTick, TAQ, XDP • Feed Handlers, V5, Data Fabric • Liquidity Information and Messaging (IOINet, SOR Feeds) • NYSE Data Products • Market Replay Transaction Services Data Services • Low Latency, Ubiquitous SFTI Network • Infrastructure and Co-location Services (our own DCs plus third-party) • Trading Platform on Demand (TPoD) Infrastructure Services

9 2.4 2.2 1.8 1Q10 4Q10 1Q11 93 61 36 427 425 415 1Q10 4Q10 1Q11 Track-Record of Cost Control and Enhanced Balance Sheet Strength Note: 1. Debt calculated as short-term plus long-term debt as reported; adjusted EBITDA as reported. Capital Expenditures Fixed Operating Expenses Disciplined Expense Management Fixed Operating Costs and CapEx ($ in millions) Continued Deleveraging Debt / LTM EBITDA 1

635 673 825 846 1,169 1,233 10 4,058 3,757 3,367 2,968 683 767 736 846 2007 2008 2009 2010 Strategy Enabled by Productivity Growth and Cost Control Note: 1. Assumes mean Wall St revenue estimate of $1.0 billion for FY ending March 31, 2011; based on 1,488 employees for LSE per 2010 annual report. Employees (year end) Net Revenue / Employee ($ in thousands) Productivity Improvements Headcount and Net Revenue / Employee 2010 Revenue Per Employee by Exchange ($ in thousands) 1

1,844 1,650 160 193 134 Pre-NYX Euronext Merger (April 2007) 2008 Investment 2009 Investment 2010 Investment Savings 2008 – 2010 2011 Guidance Total savings of $624mn: Euronext merger: $349mn (vs. $275mn promised) AMEX: $140mn (vs. $100mn promised) Additional efficiencies: $135mn FX(57) (681) $624 Million of Savings Since 2007 Have Funded New Investments Investing in Growth While Pulling Costs Out of the Platform ($ in millions) Amex and Wombat acquisitions Capacity build for Co-location and global SFTI network NYSE Liffe U.S. development NYSE Liffe Clearing Mahwah and Basildon construction AEMS in-sourcing NYFIX acquisition EU clearing build Corporate Board Member acquisition 11

12 605 612 621 640 645 654 599 613 679 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 Executing Our Strategy Means Tangible P&L Results… Notes:1. Net revenues defined as gross revenues less direct transaction costs comprised of Section 31 fees, liquidity payments and routing and clearing fees. 2. Presented on a non-GAAP basis. Quarterly Net Revenue 1 Development ($ in millions) Quarterly EPS 2 Development 0.43 0.51 0.53 0.58 0.54 0.46 0.46 0.68 0.64 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 CAGR: 5.9% CAGR: 25.8% ($)

13 …And Best-in-Class Total Shareholder Returns Notes:1. Total shareholder return from January 1, 2011 through February 8, 2011 (unaffected date) in local currency. 2. Total shareholder return from February 8, 2010 through February 8, 2011 (unaffected date) in local currency. 3. Total shareholder return from March 31, 2009 through February 8, 2011 (unaffected date) in local currency. 4. Dow Jones Global Exchange Index. 12 Month Shareholder Return 2 (%) 1Q11 Shareholder Return 1 (%) 1Q09 – Current Shareholder Return 3 (%) 11 11 9 9 6 5 0 (1) (6) 49 45 43 30 25 24 22 9 55 101 69 66 66 59 37 32 25 23 S&P 500 DJ Exchange 4 S&P 500 DJ Exchange 4 S&P 500 DJ Exchange 4 Source: FactSet

14 Deutsche Börse: Path to Creating a Global Leader in Derivatives, Risk Management and Post Trade Strong first quarter highlights leverage in the business model and superior portfolio of assets 10-year transformative journey from a German equities market to one of the world’s leading providers of derivatives, risk management and post-trade infrastructure - Pioneer & innovator in using technology to drive capital markets growth and efficiency - Path to leadership position has involved M&A, partnerships and organic growth - Eurex and Clearstream established as leading global brands, complemented by strong brands in cash equities and market data businesses Over the last 2 years, Deutsche Börse has focused on completing and integrating its portfolio of world- class assets, launching new products, expanding into growth markets and further driving efficiency - Acquired majority in STOXX (leading European index franchise) and EEX (power & emissions) - Rolled-out new products (Vola, dividend derivatives), established Clearstream operations in Singapore, launched partnership with Cetip in Brazil, expanded trading network into Asia (Eurex)   - Track record for cost discipline; 2010 efficiency program resulting in €150 million of cost savings by 2012 Strategy yields exceptional cash flow generation, strong balance sheet and attractive distribution policy Merger with NYSE Euronext leverages derivatives, risk management and post trade expertise of Deutsche Börse Group and accelerates growth opportunities Source: DB1 company filings

35% 4% 31% 26% 4% 12% 13% 32% 44% 15 Deutsche Börse: Evolving Global Leadership in Key Segments Source: DB1 company filings Notes: 1. Revenues include sales revenue and net interest income from banking business; External sales for IT. 2. Adjusted for costs for efficiency programs and non-recurring charges.           3. IT segment has been merged into Xetra, Eurex, Clearstream and MD&A since 1Q10. 4. Settlement & Custody (Clearstream) CAGR based on 2002 – 2010 time period; EBIT margin exclusive of net interest income. 2000 Revenues: €637 million 1 44% 25% 13% 18% Cash Equities (Xetra) Derivatives (Eurex) MD&A IT 3 2010 Revenues: €2,166 million 1 12% 40% 10% 38% Cash Equities (Xetra) MD&A Settlement & Custody (Clearstream) Derivatives (Eurex) 2000 EBIT: €217 million Cash Equities (Xetra) Derivatives (Eurex) IT 3 2010 EBIT: €1,091 million 2 Cash Equities (Xetra) MD&A Settlement & Custody (Clearstream) Settlement & Custody (Clearstream) MD&A Transformation Delivers Attractive Growth and Margin Profile Derivatives (Eurex) Derivatives Market Data Settlement & Custody Cash Equities (Eurex) & Analytics (Clearstream) 4 (Xetra) Total 2010 margin 56% 61% 45% 49% 50% 2000 - 2010 CAGR 40% 35% 13% 4% 18% Derivatives Market Data Settlement & Custody Cash Equities (Eurex) & Analytics (Clearstream) 4 (Xetra) Total 2000 - 2010 CAGR 18% 11% 13% (1%) 12%

25 115 150 150 (111) (25) (15) 2010A 2011E 2012E 2013E 16 Deutsche Börse: Franchise Supported by Disciplined Cost Structure Scalable Platform and Disciplined Cost Structure 1 2005 2010 EBIT: 1,091 % margin: 49% EBIT: 705 % margin: 39% Total Costs: 1,118 Total Costs: 1,136 Total Revenue: 1,823 2 Total Revenue: 2,227 2 Focus on Cost Reduction Initiatives… Cost Savings Incremental Cost Savings Implementation Costs • Implementation of Program to Optimize Processes and Costs Significantly Accelerated …While Maintaining Investment In Future Eurex 60% MD&A 5% Clearstream 30% Xetra 5% 90 35 • Investment Program is Geared to Support Structural Growth and Build on Strength in Technology Investment Program 2011 ~€120 million Source: DB1 company filings Notes: 1. Financials adjusted for non-recurring charges and costs for efficiency programs. 2. Total revenue includes sales revenue, net interest income from banking business and other operating income. (€ in millions) (€ in millions)

0.7x 1.1x 2.0x 2.9x 17 Deutsche Börse: Exceptional Cash Flow Generation and Attractive Shareholder Distributions Total debt / LTM EBITDA Source: DB1 company filings, FactSet Notes: Market data as of 5/6/2011; Financials adjusted for non-recurring items; €/$ exchange rate of 1.45 as of 5/6/2011, €/$ 1.37 for 2007 average, €/$ 1.47 for 2008, €/$ 1.39 for 2009 average and €/$ 1.33 for 2010 average. 1. Payout ratio calculated as capital distributions as a % of adjusted net income. 2. Capital returned to shareholders between 2007-2010; Dividend yield calculated as ordinary dividends as a % of current market cap. NR / NR BBB / Baa3 A+ / A3 AA / NR Low Leverage and Strong Rating DB1 Track-Record of Returning Cash to Shareholders 403 381 784 390 390 390 2007 2008 2009 2010 Ordinary dividends Share buybacks ~€2.0 billion returned to shareholders between 2007-2010 54% 56% 38% 99% Payout ratio¹ (€ in millions) 1,573 808 381 237 272 599 1,045 1,954 Ordinary dividends Share buybacks Best-in-Class Shareholder Cash Distributions ² 0% 0% 15% Div. yield 11% (€ in millions) 2010 EBITDA 1,221 838 600 527 (€ in millions) Deutsche Börse: Exceptional Cash Flow Generation and Attractive Shareholder Distributions

18 Notes: 1. Based on €/$ exchange rate of 1.33 (2010 average). 2. Includes NYX European Cash execution fees as well as European Market Data revenues from the legacy NYX Cash Trading & Listings segment. Xetra revenues are also included in European Cash.                     3. Includes NYX U.S. Cash execution fees as well as U.S. Market Data revenues from the legacy NYX Cash Trading & Listings segment. 4. Pro Forma calculation allocates the NYX Corporate/Eliminations segment operating loss based on the relative revenue contribution of each legacy NYX segment. Pro Forma NYSE / Deutsche Börse 2010 Net Revenue Globally Diversified Capital Markets Business 31% 69% U.S. Non-U.S. Geographic Breakdown Net Revenue 1 : $5.4 billion Product Breakdown 12% 7% 3% 20% 14% 37% 8% 27% 17% 11% 45% Cash Trading & Listings Derivatives Settlement & Custody Market Data & Technology Net Revenue ¹: $5.4 billion Cash Trading & Listings Derivatives Market Data & Technology Settlement & Custody EBITDA 1 3 : $2.6 billion Listings U.S. Cash ³ European Cash ² Other

19 Strong Combined Earnings and Robust Dividend First Quarter 2011 Full Year 2011 Stand-Alone Case; Before Synergies Achieved… Net Income ($ in millions) 2011 4 $682 4 1,197 Combined $1,879 Dividends Paid ($ in millions) 2011 $316 566 Combined $883 Net Income ($ in millions) 1Q 2011 $177 310 Combined $487 Dividends Paid ($ in millions) 1Q 2011 2 $79 3 142 Combined $221 1 5 5 Notes: 1. Excludes merger expenses and exit costs. 2. NYSE Euronext dividend for 1Q 2011 based on a dividend of $0.30 per share and 261 million basic common shares. 3. Deutsche Börse dividend for 1Q 2011 is illustrative reflecting one quarter of the 2010 annual dividend amount of €2.10 per share converted at a €/$ exchange rate of 1.45 as of 5/6/2011 and 186 million basic common shares. 4. 2011 net income based on 2011 I/B/E/S EPS estimates multiplied by FD share counts. Deutsche Börse figure converted at a €/$ exchange rate of 1.45 as of 5/6/2011. 5. 2011 annual dividend amounts reflect annualized 1Q 2011 dividends. Deutsche Börse annual dividend is illustrative reflecting 2010 annual dividend amount of €2.10 per share.

Integration and Closing Processes Crossing Key Milestones Integration teams identified and project offices established Further validation and quantification of synergies Increasingly detailed roadmap for synergy realization Position mapping and relationship building ongoing at senior management level Developing strategy for IT infrastructure and development Accelerated timeline of run rate expense synergies Conversations with over 100 policymakers Meetings with key government, regulatory and financial constituents in Paris, London, Brussels, Amsterdam and Lisbon Draft Competition filing submitted to European Commission with pre-notification discussions ongoing Multiple discussions with DOJ 4 College of Regulators meetings with others scheduled Initial meeting with the Committee on Foreign Investment in the U.S. (CFIUS) Deutsche Börse exchange offer cleared by BaFin on May 2 nd and launched on May 4 th F-4 declared effective by SEC on May 3 rd Integration Planning Regulatory Process 20 Run-Rate of Expense Synergies Feb. 15 Current Year 1 25% 30% Year 2 50% 65% Year 3 100% 100%

Total Expense Synergies of € 400 / $580 Million Now Identified ¹ 15 February 2011 Current Technology (+ €51 million): One Common Trading and Clearing Infrastructure “CTAC” Combination of Networks Consolidation of U.S. Data Centres Eliminating overlapping IT function where applicable Combination of Networks Global Sourcing and Global Delivery Model Clearing (+ €4 million): Accelerated Cost avoidance due to NYX stopping its projects to build two fully owned & operated CCPs  Market Operations (+ €15 million): Implementation of a Central European Market Operations Hub for Cash, Derivatives and Clearing Combination of Business Organizations in the U.S. and Europe i.e., Sales and Product Development Corporate Center (+ €30 million): Further refinement of Corporate Functions in accordance with the new, combined organization Leveraging Global sourcing opportunities: Supplier & Contract Consolidation Consolidate Real Estate Portfolio Levers for additional cost synergies ² €300mn / $435mn €400mn / $580mn 21 Technology €79mn Technology €130mn Clearing €67mn Clearing €71mn Market Operations €98mn Market Operations €113mn Corporate €56mn Corporate €86mn Notes:1. All figures converted at a €/$ exchange rate of 1.45 as of 5/6/2011. 2. Bold represents synergy levers identified post-announcement.

Combination Has Access to Unique Growth Opportunities Clearing Clearing for European cash equities Clearing for European derivatives Technology and MD&A Expanded client set for hosted / managed technology and data services Extension of STOXX index franchise to U.S. market and globally Richer content for pre- and post-trade data and analytics products Derivatives and Cash Markets Increase turnover from combining equity and derivatives liquidity pools Cross-distribution in European cash markets Asian Expansion Listing venue of choice for attracting issuers globally Leading presence in Asian markets through existing investments and technology agreements Attractive partner New Asset Classes Infrastructure in place to drive growth in new asset classes Emissions & Energy – Eurex / BlueNext / EEX Agriculture and other commodities – Eurex and NYSE Liffe 22 Note: 1. Synergies converted using €/$ exchange rate of 1.45 as of 5/6/2011. Expected Revenue Synergies of at Least €100 million / $145 million 1 Annually, with Full Run-Rate Being Achieved at End of Year 3 ~50% of Revenue Synergies from Clearing Alone

Notes: 1. All estimates using I/B/E/S consensus. Figures converted at a $/€ exchange rate of 1.4571. 2. 2011E earnings determined by multiplying 2011E EPS by fully diluted shares outstanding (NYX: 262 million). 3. Includes impact of expense and revenue run-rate synergies of €500 million converted at a $/€ exchange rate of 1.4571 and tax-affected at a rate of 27%. 4. Based on NYX fully diluted shares of 262 million. Value Drivers Total NYX Share @ 40% Per NYX Share 4 Earnings Power (in $ millions, except per share amounts) (in $) 2011 NYX Net Income Stand-alone 2 $673 2011 DB1 Net Income Stand-alone 2 1,196 Net income impact of full run-rate synergies 3 532 NewCo’s Combined Net Income 2,401 960 3.67 Equity Trading Value (in $ billions, except per share amounts) At current multiple (unaffected)  13x 31.2 12.5 $48 14x 33.6 13.4 $51 15x 36.0 14.4 $55 Dividend Potential (in $ millions, except per share amounts) Based on Current NYX and DB1 payout ~50% 1,200 480 1.83 23 Illustrative Sensitivity Analysis Path to Value Creation 1

Superior cash flow generation and strong balance sheet.... Superior Balance Sheet Strength 1 Debt / EBITDA leverage at closing 1.3 x Debt / EBITDA leverage one year after closing < 1 x ...allowing us to maintain the shareholder-friendly distribution policy Combined 2011 dividends paid by DB1 and NYX ~$880 million Potential 2012 dividends at current payout ratio > $1 billion Additional flexibility available to invest in internal and external growth and add shareholder value Debt / EBITDA at YE 2012 1.0 x 1.3 x Additional flexibility as of year end 2012 (excess cash + incremental leverage) $1.7 billion $2.8 billion 24 Note: 1. €/$ exchange rate of 1.45 as of 5/6/2011, closing on 3/12/2011, dividend 2012 based on estimated 2011 pro forma net income multiplied by payout ratio.

25 Moving Forward from a Position of Strength Strong first quarter highlights strength and operating leverage of model Further evidence of our ongoing transformation Executing our strategy to generate shareholder value 2009: Focus on Getting “Fighting Fit” 2010: Shifting to Growth 2011: Continue Driving Value Strong shareholder returns validate our direction Proposed combination with Deutsche Börse accelerates successful strategy Positioned to lead industry evolution Substantial balance sheet strength Merger on-track to deliver greater synergies in shorter time frame NYX Shareholder Vote: July 7th