Philadelphia Stock Exchange Inc.:

In the first week after completing its purchase last month of the Philadelphia Stock Exchange, the Nasdaq OMX Group Inc. cut 100 jobs, or a quarter of the workforce at the nation's oldest exchange. Nasdaq officials disclosed the cuts during a conference call Wednesday on second-quarter earnings and said the integration of the Philadelphia exchange, which it bought for $652 million, is ahead of schedule. Job cuts and other expense reductions made so far are expected to save $11.5 million for the remainder of the year, more than offsetting the $10 million pre-tax loss anticipated in Philadelphia before the layoffs, which were expected. The company did not say what kinds of jobs were eliminated. It also said it reached agreements with senior managers, who would leave after a brief transition.