SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                 SCHEDULE 13G/A
                                 (Rule 13d-102)

           INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
   RULES 13d-1(b), (c) and (d) AND AMENDMENTS THERETO FILED PURSUANT TO RULE
                                    13d-2(b)


                                 AMENDMENT NO. 1



                          THE NASDAQ STOCK MARKET, INC.
- --------------------------------------------------------------------------------
                                (Name of Issuer)


                     COMMON STOCK, PAR VALUE $.01 PER SHARE
- --------------------------------------------------------------------------------
                         (Title of Class of Securities)


                                    631103108
- --------------------------------------------------------------------------------
                                 (CUSIP Number)


                                  FEB. 14, 2005
- --------------------------------------------------------------------------------
             (Date of Event Which Requires Filing of this Statement)



Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

                           [ ]          Rule 13d-1(b)

                           [ ]          Rule 13d-1(c)

                           [X]          Rule 13d-1(d)


SCHEDULE 13G/A - ------------------------------------- ---------------------------------- CUSIP No. 631103108 Page 2 of 8 - ------------------------------------- ---------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Hellman & Friedman Capital Partners IV, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (See Instructions) (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION California - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 NUMBER OF ------------------------------------------------------------ 6 SHARED VOTING POWER SHARES 10,080,323 BENEFICIALLY ------------------------------------------------------------ 7 SOLE DISPOSITIVE POWER OWNED 0 BY EACH ------------------------------------------------------------ 8 SHARED DISPOSITIVE POWER REPORTING 10,080,323 PERSON WITH - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 10,080,323 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions) [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11.1% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (See Instructions) PN - --------------------------------------------------------------------------------

SCHEDULE 13G/A - ------------------------------------- ---------------------------------- CUSIP No. 631103108 Page 3 of 8 - ------------------------------------- ---------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) H&F Executive Fund IV, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (See Instructions) (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION California - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 NUMBER OF ------------------------------------------------------------ 6 SHARED VOTING POWER SHARES 224,095 BENEFICIALLY ------------------------------------------------------------ 7 SOLE DISPOSITIVE POWER OWNED 0 BY EACH ------------------------------------------------------------ 8 SHARED DISPOSITIVE POWER REPORTING 224,095 PERSON WITH - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 224,095 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions) [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.2% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (See Instructions) PN - --------------------------------------------------------------------------------

SCHEDULE 13G/A - ------------------------------------- ---------------------------------- CUSIP No. 631103108 Page 4 of 8 - ------------------------------------- ---------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) H&F International Partners IV-A, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (See Instructions) (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION California - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 NUMBER OF ------------------------------------------------------------ 6 SHARED VOTING POWER SHARES 1,654,721 BENEFICIALLY ------------------------------------------------------------ 7 SOLE DISPOSITIVE POWER OWNED 0 BY EACH ------------------------------------------------------------ 8 SHARED DISPOSITIVE POWER REPORTING 1,654,721 PERSON WITH - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,654,721 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions) [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 1.8% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (See Instructions) PN - --------------------------------------------------------------------------------

SCHEDULE 13G/A - ------------------------------------- ---------------------------------- CUSIP No. 631103108 Page 5 of 8 - ------------------------------------- ---------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) H&F International Partners IV-B, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (See Instructions) (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION California - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 NUMBER OF ------------------------------------------------------------ 6 SHARED VOTING POWER SHARES 545,861 BENEFICIALLY ------------------------------------------------------------ 7 SOLE DISPOSITIVE POWER OWNED 0 BY EACH ------------------------------------------------------------ 8 SHARED DISPOSITIVE POWER REPORTING 545,861 PERSON WITH - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 545,861 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions) [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.6% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (See Instructions) PN - --------------------------------------------------------------------------------

SCHEDULE 13G/A - ------------------------------------- ---------------------------------- CUSIP No. 631103108 Page 6 of 8 - ------------------------------------- ---------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) H&F Investors IV, LLC - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (See Instructions) (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION California - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 NUMBER OF ------------------------------------------------------------ 6 SHARED VOTING POWER SHARES 12,505,000 BENEFICIALLY ------------------------------------------------------------ 7 SOLE DISPOSITIVE POWER OWNED 0 BY EACH ------------------------------------------------------------ 8 SHARED DISPOSITIVE POWER REPORTING 12,505,000 PERSON WITH - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 12,505,000 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions) [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 13.8% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (See Instructions) OO - --------------------------------------------------------------------------------

SCHEDULE 13G/A - ------------------------------------- ---------------------------------- CUSIP No. 631103108 Page 7 of 8 - ------------------------------------- ---------------------------------- The Schedule 13G, dated June 29, 2001, (the "Schedule 13G") originally filed on behalf of each of Hellman & Friedman Capital Partners IV, L.P., a California limited partnership, H&F Executive Fund IV, L.P., a California limited partnership, H&F International Partners IV-A, L.P., a California limited partnership, H&F International Partners IV-B, L.P., a California limited partnership (collectively, the "H&F Investors"), H&F Investors IV, LLC, a California limited liability corporation and F. Warren Hellman is hereby amended as set forth below: ITEM 2(A): NAME OF FILING PERSON. The Schedule 13G is hereby amended to eliminate F. Warren Hellman as a filing person. ITEM 4: OWNERSHIP. (a) Amount Beneficially Owned: See the responses to Item 9 on the attached Cover Pages. The amounts reported as beneficially owned by the H&F Investors have been amended to include 5,000 Shares receivable upon exercise of options held in the name of F. Warren Hellman for the benefit of the H&F Investors as follows: 4,104 Shares beneficially owned by Hellman & Friedman Capital Partners IV, L.P., 674 Shares beneficially owned by H&F International Partners IV-A, L.P. and 222 Shares beneficially owned by H&F International Partners IV-B, L.P. (b) Percent of Class: See the responses to Item 11 on the attached Cover Pages. (c) Number of shares as to which such persons have: (i) Sole power to vote or to direct the vote: See the responses to Item 5 on the attached Cover Pages. (ii) Shared power to vote or to direct the vote: See the responses to Item 6 on the attached Cover Pages. (iii) Sole power to dispose or to direct the disposition of: See the responses to Item 7 on the attached Cover Pages. (iv) Shared power to dispose or to direct the disposition of: See the responses to Item 8 on the attached Cover Pages.

SCHEDULE 13G/A - ------------------------------------- ---------------------------------- CUSIP No. 631103108 Page 8 of 8 - ------------------------------------- ---------------------------------- SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: February 14, 2005 H&F Investors IV, LLC By: /s/ Georgia Lee ---------------------------- Name: Georgia Lee Title: Vice President