<?xml version="1.0" encoding="UTF-8"?>

<!--XBRL Document Created with Wdesk from Workiva-->
<!--Copyright 2021 Workiva-->
<!--r:cd870a3a-eeda-4951-b733-fc501fe5d30c,g:93895466-ab1a-4198-bcee-74b6f8008c6d-->
<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://www.nasdaq.com/role/CoverPage" xlink:type="simple" xlink:href="ndaq-20201231.xsd#CoverPage"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/CoverPage" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/ConsolidatedBalanceSheets" xlink:type="simple" xlink:href="ndaq-20201231.xsd#ConsolidatedBalanceSheets"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/ConsolidatedBalanceSheets" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Assets_0a3b9cab-f399-4da5-9714-c00b119ce06c" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Assets"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsCurrent_aaec4d3d-39e6-44e6-8015-b380f054f7b7" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetsCurrent"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_0a3b9cab-f399-4da5-9714-c00b119ce06c" xlink:to="loc_us-gaap_AssetsCurrent_aaec4d3d-39e6-44e6-8015-b380f054f7b7" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentNet_6f196fbf-c4ad-4fa8-b30c-4cc20a5078b7" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_0a3b9cab-f399-4da5-9714-c00b119ce06c" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentNet_6f196fbf-c4ad-4fa8-b30c-4cc20a5078b7" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Goodwill_fe63164d-d8f5-4f33-a220-c5cebcaea30c" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Goodwill"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_0a3b9cab-f399-4da5-9714-c00b119ce06c" xlink:to="loc_us-gaap_Goodwill_fe63164d-d8f5-4f33-a220-c5cebcaea30c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_d69610cf-f765-45c3-850c-45c68ce576ab" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_0a3b9cab-f399-4da5-9714-c00b119ce06c" xlink:to="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_d69610cf-f765-45c3-850c-45c68ce576ab" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseRightOfUseAsset_46fad481-160d-4750-bdae-f274448185f1" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseRightOfUseAsset"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_0a3b9cab-f399-4da5-9714-c00b119ce06c" xlink:to="loc_us-gaap_OperatingLeaseRightOfUseAsset_46fad481-160d-4750-bdae-f274448185f1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherAssetsNoncurrent_9916ef52-aa01-48ce-b6f2-cce095fba61d" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherAssetsNoncurrent"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_0a3b9cab-f399-4da5-9714-c00b119ce06c" xlink:to="loc_us-gaap_OtherAssetsNoncurrent_9916ef52-aa01-48ce-b6f2-cce095fba61d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesCurrent_5392c94b-2357-4b67-a30d-a420016c16b0" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesCurrent"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent_1244f006-7059-4f16-885e-6840705c7544" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_5392c94b-2357-4b67-a30d-a420016c16b0" xlink:to="loc_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent_1244f006-7059-4f16-885e-6840705c7544" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ndaq_SectionThirtyOneFeesPayable_45d34f9f-d9d7-4393-b55b-97afd9840d85" xlink:href="ndaq-20201231.xsd#ndaq_SectionThirtyOneFeesPayable"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_5392c94b-2357-4b67-a30d-a420016c16b0" xlink:to="loc_ndaq_SectionThirtyOneFeesPayable_45d34f9f-d9d7-4393-b55b-97afd9840d85" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmployeeRelatedLiabilitiesCurrent_d9eaf1fd-f71f-4d35-899c-e515062349a3" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EmployeeRelatedLiabilitiesCurrent"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_5392c94b-2357-4b67-a30d-a420016c16b0" xlink:to="loc_us-gaap_EmployeeRelatedLiabilitiesCurrent_d9eaf1fd-f71f-4d35-899c-e515062349a3" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ContractWithCustomerLiabilityCurrent_f9a4cb48-f340-4d5c-ab04-1543443c3b0c" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiabilityCurrent"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_5392c94b-2357-4b67-a30d-a420016c16b0" xlink:to="loc_us-gaap_ContractWithCustomerLiabilityCurrent_f9a4cb48-f340-4d5c-ab04-1543443c3b0c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherLiabilitiesCurrent_f3f9e487-5bfc-4886-8434-2ed037fbe2f5" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherLiabilitiesCurrent"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_5392c94b-2357-4b67-a30d-a420016c16b0" xlink:to="loc_us-gaap_OtherLiabilitiesCurrent_f3f9e487-5bfc-4886-8434-2ed037fbe2f5" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ndaq_DefaultFundsAndMarginDepositsLiabilities_18c362f0-8e7d-43a1-ac51-079f53bd64b3" xlink:href="ndaq-20201231.xsd#ndaq_DefaultFundsAndMarginDepositsLiabilities"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_5392c94b-2357-4b67-a30d-a420016c16b0" xlink:to="loc_ndaq_DefaultFundsAndMarginDepositsLiabilities_18c362f0-8e7d-43a1-ac51-079f53bd64b3" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtCurrent_b2c5c0c9-7065-4659-904d-833a4b966f31" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtCurrent"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_5392c94b-2357-4b67-a30d-a420016c16b0" xlink:to="loc_us-gaap_DebtCurrent_b2c5c0c9-7065-4659-904d-833a4b966f31" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsCurrent_f953c0ef-1c19-4665-9c86-0067ef955cbc" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetsCurrent"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_d8ba4318-6b23-4036-8e92-d98c4c0a07c5" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_f953c0ef-1c19-4665-9c86-0067ef955cbc" xlink:to="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_d8ba4318-6b23-4036-8e92-d98c4c0a07c5" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_50bfeb51-0d91-451e-9b6a-5e56d65a13b5" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_f953c0ef-1c19-4665-9c86-0067ef955cbc" xlink:to="loc_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_50bfeb51-0d91-451e-9b6a-5e56d65a13b5" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TradingSecuritiesDebt_71a696de-88cb-4631-8997-d68a7f73e0ef" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TradingSecuritiesDebt"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_f953c0ef-1c19-4665-9c86-0067ef955cbc" xlink:to="loc_us-gaap_TradingSecuritiesDebt_71a696de-88cb-4631-8997-d68a7f73e0ef" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReceivablesNetCurrent_02c43420-127a-430c-a62d-f0149017971b" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ReceivablesNetCurrent"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_f953c0ef-1c19-4665-9c86-0067ef955cbc" xlink:to="loc_us-gaap_ReceivablesNetCurrent_02c43420-127a-430c-a62d-f0149017971b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ndaq_DefaultFundsAndMarginDepositsAssets_c5cc3e44-7f08-493e-8630-315fa729bede" xlink:href="ndaq-20201231.xsd#ndaq_DefaultFundsAndMarginDepositsAssets"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_f953c0ef-1c19-4665-9c86-0067ef955cbc" xlink:to="loc_ndaq_DefaultFundsAndMarginDepositsAssets_c5cc3e44-7f08-493e-8630-315fa729bede" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherAssetsCurrent_d684529d-ca36-47b2-bd83-08bcc3f4f989" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherAssetsCurrent"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_f953c0ef-1c19-4665-9c86-0067ef955cbc" xlink:to="loc_us-gaap_OtherAssetsCurrent_d684529d-ca36-47b2-bd83-08bcc3f4f989" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_38863a32-e090-46d8-be15-0222b8fc9495" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquity_0cf21cb9-89d0-4b1d-a814-df0b9f8170a8" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquity"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_38863a32-e090-46d8-be15-0222b8fc9495" xlink:to="loc_us-gaap_StockholdersEquity_0cf21cb9-89d0-4b1d-a814-df0b9f8170a8" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterest_64b32b64-ef6b-4729-97d6-0cc66e85adbc" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_MinorityInterest"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_38863a32-e090-46d8-be15-0222b8fc9495" xlink:to="loc_us-gaap_MinorityInterest_64b32b64-ef6b-4729-97d6-0cc66e85adbc" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquity_8f546c8c-f541-409b-b3ea-29a74bf254f6" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquity"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockValue_1543612a-e4d0-4a2d-a482-9f6b458dbef1" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockValue"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_8f546c8c-f541-409b-b3ea-29a74bf254f6" xlink:to="loc_us-gaap_CommonStockValue_1543612a-e4d0-4a2d-a482-9f6b458dbef1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdditionalPaidInCapital_31ee82ad-abf2-40a3-85ab-115281b0aa75" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdditionalPaidInCapital"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_8f546c8c-f541-409b-b3ea-29a74bf254f6" xlink:to="loc_us-gaap_AdditionalPaidInCapital_31ee82ad-abf2-40a3-85ab-115281b0aa75" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TreasuryStockValue_e5184b06-7d6b-4916-b139-9bfcbaa2e42d" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TreasuryStockValue"/>
    <link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_8f546c8c-f541-409b-b3ea-29a74bf254f6" xlink:to="loc_us-gaap_TreasuryStockValue_e5184b06-7d6b-4916-b139-9bfcbaa2e42d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_d19aff03-04d0-4857-8168-5b889274a562" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_8f546c8c-f541-409b-b3ea-29a74bf254f6" xlink:to="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_d19aff03-04d0-4857-8168-5b889274a562" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit_8bd4ca37-ce0a-4d7a-a8c7-8cbe7239fcfb" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_8f546c8c-f541-409b-b3ea-29a74bf254f6" xlink:to="loc_us-gaap_RetainedEarningsAccumulatedDeficit_8bd4ca37-ce0a-4d7a-a8c7-8cbe7239fcfb" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity_b80968dc-5414-4296-a53b-1f02451de3a6" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Liabilities_c94d1627-239c-43b9-a4c8-f8c1b81b0c4e" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Liabilities"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_b80968dc-5414-4296-a53b-1f02451de3a6" xlink:to="loc_us-gaap_Liabilities_c94d1627-239c-43b9-a4c8-f8c1b81b0c4e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingencies_7aeea646-247b-4742-9e8b-a5b743848cb3" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommitmentsAndContingencies"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_b80968dc-5414-4296-a53b-1f02451de3a6" xlink:to="loc_us-gaap_CommitmentsAndContingencies_7aeea646-247b-4742-9e8b-a5b743848cb3" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquity_19597288-7524-4abb-b32d-e23dd2e86f9b" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquity"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_b80968dc-5414-4296-a53b-1f02451de3a6" xlink:to="loc_us-gaap_StockholdersEquity_19597288-7524-4abb-b32d-e23dd2e86f9b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterest_b1a7deb4-bcba-4dca-bef0-8fd9ec0d57ab" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_MinorityInterest"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_b80968dc-5414-4296-a53b-1f02451de3a6" xlink:to="loc_us-gaap_MinorityInterest_b1a7deb4-bcba-4dca-bef0-8fd9ec0d57ab" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Liabilities_bcc3bcbb-8770-4edc-b6cc-174b350bb994" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Liabilities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesCurrent_ee5ddd08-7be2-454d-9d76-2eaf6aa63470" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesCurrent"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_bcc3bcbb-8770-4edc-b6cc-174b350bb994" xlink:to="loc_us-gaap_LiabilitiesCurrent_ee5ddd08-7be2-454d-9d76-2eaf6aa63470" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtNoncurrent_00170049-a88a-4f6b-ba33-566ecfbcdc9c" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtNoncurrent"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_bcc3bcbb-8770-4edc-b6cc-174b350bb994" xlink:to="loc_us-gaap_LongTermDebtNoncurrent_00170049-a88a-4f6b-ba33-566ecfbcdc9c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxLiabilitiesNet_55969320-a71a-4fd7-b0a9-ebb1d0674e43" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxLiabilitiesNet"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_bcc3bcbb-8770-4edc-b6cc-174b350bb994" xlink:to="loc_us-gaap_DeferredIncomeTaxLiabilitiesNet_55969320-a71a-4fd7-b0a9-ebb1d0674e43" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLiabilityNoncurrent_645b4c57-5875-45a4-a373-a334be6b9f75" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityNoncurrent"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_bcc3bcbb-8770-4edc-b6cc-174b350bb994" xlink:to="loc_us-gaap_OperatingLeaseLiabilityNoncurrent_645b4c57-5875-45a4-a373-a334be6b9f75" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherLiabilitiesNoncurrent_9d01479b-f3e3-443b-956c-66359c45b7ab" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherLiabilitiesNoncurrent"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_bcc3bcbb-8770-4edc-b6cc-174b350bb994" xlink:to="loc_us-gaap_OtherLiabilitiesNoncurrent_9d01479b-f3e3-443b-956c-66359c45b7ab" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.nasdaq.com/role/ConsolidatedBalanceSheetsParenthetical" xlink:type="simple" xlink:href="ndaq-20201231.xsd#ConsolidatedBalanceSheetsParenthetical"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/ConsolidatedBalanceSheetsParenthetical" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/ConsolidatedStatementsofIncome" xlink:type="simple" xlink:href="ndaq-20201231.xsd#ConsolidatedStatementsofIncome"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/ConsolidatedStatementsofIncome" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingExpenses_3a0724fd-f40e-4b83-9f26-67d684d32a59" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingExpenses"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LaborAndRelatedExpense_c827ce56-67ed-43e0-ac1a-bdf9cc714224" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LaborAndRelatedExpense"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingExpenses_3a0724fd-f40e-4b83-9f26-67d684d32a59" xlink:to="loc_us-gaap_LaborAndRelatedExpense_c827ce56-67ed-43e0-ac1a-bdf9cc714224" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfessionalFees_67307f6b-86ab-4e5c-9e66-4ce8428ec9e2" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProfessionalFees"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingExpenses_3a0724fd-f40e-4b83-9f26-67d684d32a59" xlink:to="loc_us-gaap_ProfessionalFees_67307f6b-86ab-4e5c-9e66-4ce8428ec9e2" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommunicationsAndInformationTechnology_b47a0bd3-8699-4456-bc9e-639621260fc6" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommunicationsAndInformationTechnology"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingExpenses_3a0724fd-f40e-4b83-9f26-67d684d32a59" xlink:to="loc_us-gaap_CommunicationsAndInformationTechnology_b47a0bd3-8699-4456-bc9e-639621260fc6" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OccupancyNet_bbe22360-1545-411f-8ddf-404cc535aae9" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OccupancyNet"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingExpenses_3a0724fd-f40e-4b83-9f26-67d684d32a59" xlink:to="loc_us-gaap_OccupancyNet_bbe22360-1545-411f-8ddf-404cc535aae9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GeneralAndAdministrativeExpense_79790cf0-012a-4af7-b4b2-ecf044bca911" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingExpenses_3a0724fd-f40e-4b83-9f26-67d684d32a59" xlink:to="loc_us-gaap_GeneralAndAdministrativeExpense_79790cf0-012a-4af7-b4b2-ecf044bca911" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MarketingAndAdvertisingExpense_439468d0-bc96-4cc0-986c-d5a9503f39a9" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_MarketingAndAdvertisingExpense"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingExpenses_3a0724fd-f40e-4b83-9f26-67d684d32a59" xlink:to="loc_us-gaap_MarketingAndAdvertisingExpense_439468d0-bc96-4cc0-986c-d5a9503f39a9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepreciationAndAmortization_7b8c21b9-d2b8-43de-a617-9c1e4ae0c8bc" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DepreciationAndAmortization"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingExpenses_3a0724fd-f40e-4b83-9f26-67d684d32a59" xlink:to="loc_us-gaap_DepreciationAndAmortization_7b8c21b9-d2b8-43de-a617-9c1e4ae0c8bc" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ndaq_RegulatoryOperatingExpense_3386e0e0-5236-4a0a-9136-d585bddd7d41" xlink:href="ndaq-20201231.xsd#ndaq_RegulatoryOperatingExpense"/>
    <link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingExpenses_3a0724fd-f40e-4b83-9f26-67d684d32a59" xlink:to="loc_ndaq_RegulatoryOperatingExpense_3386e0e0-5236-4a0a-9136-d585bddd7d41" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationAcquisitionRelatedCosts_da3d005a-a3dc-4b12-89ce-e974ede71d38" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationAcquisitionRelatedCosts"/>
    <link:calculationArc order="9" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingExpenses_3a0724fd-f40e-4b83-9f26-67d684d32a59" xlink:to="loc_us-gaap_BusinessCombinationAcquisitionRelatedCosts_da3d005a-a3dc-4b12-89ce-e974ede71d38" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestructuringCharges_69fa0914-cdc2-49b7-a7c1-7c1b39dd58ee" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RestructuringCharges"/>
    <link:calculationArc order="10" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingExpenses_3a0724fd-f40e-4b83-9f26-67d684d32a59" xlink:to="loc_us-gaap_RestructuringCharges_69fa0914-cdc2-49b7-a7c1-7c1b39dd58ee" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GrossProfit_b553bcd4-7cb5-4b12-a2e2-f9a9e0813b0d" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GrossProfit"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_b45f8fa9-7bb7-4858-a9cb-8f6f7ce41262" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_GrossProfit_b553bcd4-7cb5-4b12-a2e2-f9a9e0813b0d" xlink:to="loc_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_b45f8fa9-7bb7-4858-a9cb-8f6f7ce41262" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CostOfGoodsAndServicesSold_1f59ea85-131e-484b-ab78-f51198baec7e" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CostOfGoodsAndServicesSold"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_GrossProfit_b553bcd4-7cb5-4b12-a2e2-f9a9e0813b0d" xlink:to="loc_us-gaap_CostOfGoodsAndServicesSold_1f59ea85-131e-484b-ab78-f51198baec7e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingIncomeLoss_d9b2b97c-6645-44ab-ba91-777ff6cf7d06" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingIncomeLoss"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GrossProfit_1d0a650e-0d4d-47b3-989a-2ebe171b9004" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GrossProfit"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingIncomeLoss_d9b2b97c-6645-44ab-ba91-777ff6cf7d06" xlink:to="loc_us-gaap_GrossProfit_1d0a650e-0d4d-47b3-989a-2ebe171b9004" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingExpenses_a667238b-e40c-432c-8977-f2be777f9f02" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingExpenses"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingIncomeLoss_d9b2b97c-6645-44ab-ba91-777ff6cf7d06" xlink:to="loc_us-gaap_OperatingExpenses_a667238b-e40c-432c-8977-f2be777f9f02" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_084918d4-cd3b-4271-acf9-1063eaa43273" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingIncomeLoss_f39280a1-8626-4978-ac5e-e9f6f25e42cb" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingIncomeLoss"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_084918d4-cd3b-4271-acf9-1063eaa43273" xlink:to="loc_us-gaap_OperatingIncomeLoss_f39280a1-8626-4978-ac5e-e9f6f25e42cb" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentIncomeInterest_eef67f4f-d0d1-4f56-8f91-09b301033467" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InvestmentIncomeInterest"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_084918d4-cd3b-4271-acf9-1063eaa43273" xlink:to="loc_us-gaap_InvestmentIncomeInterest_eef67f4f-d0d1-4f56-8f91-09b301033467" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestExpense_6a502356-1815-4902-92ad-2b40ad988e16" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestExpense"/>
    <link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_084918d4-cd3b-4271-acf9-1063eaa43273" xlink:to="loc_us-gaap_InterestExpense_6a502356-1815-4902-92ad-2b40ad988e16" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GainLossOnSaleOfBusiness_acb31cf2-126d-4cae-bd03-f05350d0079f" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GainLossOnSaleOfBusiness"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_084918d4-cd3b-4271-acf9-1063eaa43273" xlink:to="loc_us-gaap_GainLossOnSaleOfBusiness_acb31cf2-126d-4cae-bd03-f05350d0079f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherNonoperatingIncome_bfff2c28-c90d-4638-ac60-31ac01dcf6f2" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherNonoperatingIncome"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_084918d4-cd3b-4271-acf9-1063eaa43273" xlink:to="loc_us-gaap_OtherNonoperatingIncome_bfff2c28-c90d-4638-ac60-31ac01dcf6f2" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromEquityMethodInvestments_07e9de2d-d822-4ffe-9887-2f63f923ee94" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromEquityMethodInvestments"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_084918d4-cd3b-4271-acf9-1063eaa43273" xlink:to="loc_us-gaap_IncomeLossFromEquityMethodInvestments_07e9de2d-d822-4ffe-9887-2f63f923ee94" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GainLossOnSaleOfInvestments_a6b57dc0-0fe7-426b-b6a1-c63ac1fa566e" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GainLossOnSaleOfInvestments"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_084918d4-cd3b-4271-acf9-1063eaa43273" xlink:to="loc_us-gaap_GainLossOnSaleOfInvestments_a6b57dc0-0fe7-426b-b6a1-c63ac1fa566e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLoss_65323860-1932-419f-8f6d-5d72eec8ff63" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLoss"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_18397bb1-22f3-4f32-b199-2d669ae859d5" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLoss_65323860-1932-419f-8f6d-5d72eec8ff63" xlink:to="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_18397bb1-22f3-4f32-b199-2d669ae859d5" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_cb92f3d0-f2db-4983-a38a-fa5f5ea8a27e" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLoss_65323860-1932-419f-8f6d-5d72eec8ff63" xlink:to="loc_us-gaap_IncomeTaxExpenseBenefit_cb92f3d0-f2db-4983-a38a-fa5f5ea8a27e" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.nasdaq.com/role/ConsolidatedStatementsofComprehensiveIncome" xlink:type="simple" xlink:href="ndaq-20201231.xsd#ConsolidatedStatementsofComprehensiveIncome"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/ConsolidatedStatementsofComprehensiveIncome" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent_4378eba8-4785-473d-9781-2942e8e9253c" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent_d6cac337-b66e-46d7-9a22-330b6efc3c7a" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent_4378eba8-4785-473d-9781-2942e8e9253c" xlink:to="loc_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent_d6cac337-b66e-46d7-9a22-330b6efc3c7a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent_260c3d6f-bb41-4a86-9a4a-a48b1b55a50a" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent_4378eba8-4785-473d-9781-2942e8e9253c" xlink:to="loc_us-gaap_OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent_260c3d6f-bb41-4a86-9a4a-a48b1b55a50a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent_0855dee4-8a12-4e40-9dd2-2801c6ae9bc2" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent_b2338a4b-5a64-434a-992f-554e9cfe06ea" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent_0855dee4-8a12-4e40-9dd2-2801c6ae9bc2" xlink:to="loc_us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent_b2338a4b-5a64-434a-992f-554e9cfe06ea" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax_d2a9f4cc-0e7c-4814-b457-e8b0cc6edd45" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent_0855dee4-8a12-4e40-9dd2-2801c6ae9bc2" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax_d2a9f4cc-0e7c-4814-b457-e8b0cc6edd45" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent_e5b4cbd9-2eda-49a0-91cd-4bdbbbc45b37" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent_7dc55db6-78fb-4b5e-8149-4b44368d8472" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent_e5b4cbd9-2eda-49a0-91cd-4bdbbbc45b37" xlink:to="loc_us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent_7dc55db6-78fb-4b5e-8149-4b44368d8472" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent_59c39575-10c3-4d1d-8c8b-0d1544b71844" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent_e5b4cbd9-2eda-49a0-91cd-4bdbbbc45b37" xlink:to="loc_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent_59c39575-10c3-4d1d-8c8b-0d1544b71844" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTax_adb42972-0068-432a-87d7-7efa1fdb1bd1" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent_57287a15-ff8a-4f9e-bd54-dd4dee70a1eb" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_adb42972-0068-432a-87d7-7efa1fdb1bd1" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent_57287a15-ff8a-4f9e-bd54-dd4dee70a1eb" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLoss_4e7bec3e-23df-41e2-a488-88b9ddfcbe37" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLoss"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_adb42972-0068-432a-87d7-7efa1fdb1bd1" xlink:to="loc_us-gaap_NetIncomeLoss_4e7bec3e-23df-41e2-a488-88b9ddfcbe37" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.nasdaq.com/role/ConsolidatedStatementsofComprehensiveIncomeParenthetical" xlink:type="simple" xlink:href="ndaq-20201231.xsd#ConsolidatedStatementsofComprehensiveIncomeParenthetical"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/ConsolidatedStatementsofComprehensiveIncomeParenthetical" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/ConsolidatedStatementsofChangesinStockholdersEquity" xlink:type="simple" xlink:href="ndaq-20201231.xsd#ConsolidatedStatementsofChangesinStockholdersEquity"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/ConsolidatedStatementsofChangesinStockholdersEquity" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/ConsolidatedStatementsofCashFlows" xlink:type="simple" xlink:href="ndaq-20201231.xsd#ConsolidatedStatementsofCashFlows"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/ConsolidatedStatementsofCashFlows" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_a7bcc19f-398a-4e10-a2ea-e3499c9a8801" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_bbfeaa32-567e-442e-b880-3ade4b6950f4" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_a7bcc19f-398a-4e10-a2ea-e3499c9a8801" xlink:to="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_bbfeaa32-567e-442e-b880-3ade4b6950f4" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_6776d300-9203-4f68-9982-4658a17d2fbe" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_a7bcc19f-398a-4e10-a2ea-e3499c9a8801" xlink:to="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_6776d300-9203-4f68-9982-4658a17d2fbe" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_847c69d2-36d6-4e85-ae42-a64673fd49ca" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_a7bcc19f-398a-4e10-a2ea-e3499c9a8801" xlink:to="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_847c69d2-36d6-4e85-ae42-a64673fd49ca" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_731fe01e-0f25-4255-a64e-ed59a8b35488" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_a7bcc19f-398a-4e10-a2ea-e3499c9a8801" xlink:to="loc_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_731fe01e-0f25-4255-a64e-ed59a8b35488" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_3c2ee80d-948b-4f99-8d59-d086ff862ae2" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireShortTermInvestments_d8bd9907-192c-4206-bbb2-18566cf9c94e" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToAcquireShortTermInvestments"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_3c2ee80d-948b-4f99-8d59-d086ff862ae2" xlink:to="loc_us-gaap_PaymentsToAcquireShortTermInvestments_d8bd9907-192c-4206-bbb2-18566cf9c94e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments_eec2af5f-bd37-432a-9ca3-61e44c9a5fe9" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_3c2ee80d-948b-4f99-8d59-d086ff862ae2" xlink:to="loc_us-gaap_ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments_eec2af5f-bd37-432a-9ca3-61e44c9a5fe9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested_83135936-9ca1-4c62-9919-5d52adb7799e" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_3c2ee80d-948b-4f99-8d59-d086ff862ae2" xlink:to="loc_us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested_83135936-9ca1-4c62-9919-5d52adb7799e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_1189af84-7110-4bcf-ac28-72b935c76327" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired"/>
    <link:calculationArc order="4" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_3c2ee80d-948b-4f99-8d59-d086ff862ae2" xlink:to="loc_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_1189af84-7110-4bcf-ac28-72b935c76327" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_57021f78-f676-42da-a4fc-efee93265ba5" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment"/>
    <link:calculationArc order="5" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_3c2ee80d-948b-4f99-8d59-d086ff862ae2" xlink:to="loc_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_57021f78-f676-42da-a4fc-efee93265ba5" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_8289da54-bec5-4f8c-8ce3-adf64d6f3fa4" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsForProceedsFromOtherInvestingActivities"/>
    <link:calculationArc order="6" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_3c2ee80d-948b-4f99-8d59-d086ff862ae2" xlink:to="loc_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_8289da54-bec5-4f8c-8ce3-adf64d6f3fa4" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromSaleAndMaturityOfTradingSecuritiesHeldforinvestment_7f90ce91-2108-4722-9220-d0b5da8b1117" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromSaleAndMaturityOfTradingSecuritiesHeldforinvestment"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_3c2ee80d-948b-4f99-8d59-d086ff862ae2" xlink:to="loc_us-gaap_ProceedsFromSaleAndMaturityOfTradingSecuritiesHeldforinvestment_7f90ce91-2108-4722-9220-d0b5da8b1117" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_b4e983b6-4625-4fc6-9de1-599e042272af" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromRepaymentsOfCommercialPaper_943a376f-bc0d-4802-a82a-5a54dfe6f75a" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfCommercialPaper"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_b4e983b6-4625-4fc6-9de1-599e042272af" xlink:to="loc_us-gaap_ProceedsFromRepaymentsOfCommercialPaper_943a376f-bc0d-4802-a82a-5a54dfe6f75a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RepaymentsOfLongTermDebt_e2aec852-5538-4615-a169-80301bc678cd" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RepaymentsOfLongTermDebt"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_b4e983b6-4625-4fc6-9de1-599e042272af" xlink:to="loc_us-gaap_RepaymentsOfLongTermDebt_e2aec852-5538-4615-a169-80301bc678cd" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfDebtExtinguishmentCosts_888ddfae-46dd-4826-a1ec-74c78ab91a72" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsOfDebtExtinguishmentCosts"/>
    <link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_b4e983b6-4625-4fc6-9de1-599e042272af" xlink:to="loc_us-gaap_PaymentsOfDebtExtinguishmentCosts_888ddfae-46dd-4826-a1ec-74c78ab91a72" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt_a47f63a6-ac6f-40d8-9b3c-e5f7ec689f0c" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_b4e983b6-4625-4fc6-9de1-599e042272af" xlink:to="loc_us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt_a47f63a6-ac6f-40d8-9b3c-e5f7ec689f0c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_d8891836-a678-43fc-8ebe-ead15b04670e" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock"/>
    <link:calculationArc order="5" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_b4e983b6-4625-4fc6-9de1-599e042272af" xlink:to="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_d8891836-a678-43fc-8ebe-ead15b04670e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfDividends_dd5c73e4-cf74-42bd-a11a-50684ee91e46" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsOfDividends"/>
    <link:calculationArc order="6" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_b4e983b6-4625-4fc6-9de1-599e042272af" xlink:to="loc_us-gaap_PaymentsOfDividends_dd5c73e4-cf74-42bd-a11a-50684ee91e46" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfCommonStock_f2e8dc95-45d9-417a-8f61-6c75ba33b70d" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_b4e983b6-4625-4fc6-9de1-599e042272af" xlink:to="loc_us-gaap_ProceedsFromIssuanceOfCommonStock_f2e8dc95-45d9-417a-8f61-6c75ba33b70d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ndaq_PaymentsRelatedToEmployeeSharesWithheldForTaxes_011fdf9f-b4f9-4744-a4cf-e4d9c2c27f47" xlink:href="ndaq-20201231.xsd#ndaq_PaymentsRelatedToEmployeeSharesWithheldForTaxes"/>
    <link:calculationArc order="8" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_b4e983b6-4625-4fc6-9de1-599e042272af" xlink:to="loc_ndaq_PaymentsRelatedToEmployeeSharesWithheldForTaxes_011fdf9f-b4f9-4744-a4cf-e4d9c2c27f47" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_c8e81fea-c33c-4dc9-b420-5043347353fb" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromPaymentsForOtherFinancingActivities"/>
    <link:calculationArc order="9" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_b4e983b6-4625-4fc6-9de1-599e042272af" xlink:to="loc_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_c8e81fea-c33c-4dc9-b420-5043347353fb" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_4fb0a829-bf08-4def-b232-a6322effefb4" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLoss_0cc24a07-6cd4-4602-820b-ffc7c315ba09" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLoss"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_4fb0a829-bf08-4def-b232-a6322effefb4" xlink:to="loc_us-gaap_NetIncomeLoss_0cc24a07-6cd4-4602-820b-ffc7c315ba09" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepreciationAndAmortization_8aea6c74-cabd-4263-94c9-4edd6006f108" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DepreciationAndAmortization"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_4fb0a829-bf08-4def-b232-a6322effefb4" xlink:to="loc_us-gaap_DepreciationAndAmortization_8aea6c74-cabd-4263-94c9-4edd6006f108" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensation_1f648adf-c9ae-48f7-abc8-7849a7c6165c" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensation"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_4fb0a829-bf08-4def-b232-a6322effefb4" xlink:to="loc_us-gaap_ShareBasedCompensation_1f648adf-c9ae-48f7-abc8-7849a7c6165c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_e44d35cc-e2cb-492c-a30d-14244f3e4b63" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_4fb0a829-bf08-4def-b232-a6322effefb4" xlink:to="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_e44d35cc-e2cb-492c-a30d-14244f3e4b63" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GainsLossesOnExtinguishmentOfDebt_99ee55d8-9a3f-4f21-a68b-8ef0285904fc" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GainsLossesOnExtinguishmentOfDebt"/>
    <link:calculationArc order="5" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_4fb0a829-bf08-4def-b232-a6322effefb4" xlink:to="loc_us-gaap_GainsLossesOnExtinguishmentOfDebt_99ee55d8-9a3f-4f21-a68b-8ef0285904fc" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GainLossOnSaleOfBusiness_423a7451-5892-45b5-8129-63684565d0b9" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GainLossOnSaleOfBusiness"/>
    <link:calculationArc order="6" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_4fb0a829-bf08-4def-b232-a6322effefb4" xlink:to="loc_us-gaap_GainLossOnSaleOfBusiness_423a7451-5892-45b5-8129-63684565d0b9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromEquityMethodInvestments_f700c07b-d00c-42a5-858e-77cf6710a0df" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromEquityMethodInvestments"/>
    <link:calculationArc order="7" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_4fb0a829-bf08-4def-b232-a6322effefb4" xlink:to="loc_us-gaap_IncomeLossFromEquityMethodInvestments_f700c07b-d00c-42a5-858e-77cf6710a0df" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherNoncashIncomeExpense_182e1cb3-9852-4a75-a54f-fcc1d14f420a" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherNoncashIncomeExpense"/>
    <link:calculationArc order="8" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_4fb0a829-bf08-4def-b232-a6322effefb4" xlink:to="loc_us-gaap_OtherNoncashIncomeExpense_182e1cb3-9852-4a75-a54f-fcc1d14f420a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInReceivables_86e91a1e-5278-4700-9613-f5ea1eb6b47c" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInReceivables"/>
    <link:calculationArc order="9" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_4fb0a829-bf08-4def-b232-a6322effefb4" xlink:to="loc_us-gaap_IncreaseDecreaseInReceivables_86e91a1e-5278-4700-9613-f5ea1eb6b47c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_8d25a12a-e327-4b18-a10f-3e119b7a3026" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets"/>
    <link:calculationArc order="10" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_4fb0a829-bf08-4def-b232-a6322effefb4" xlink:to="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_8d25a12a-e327-4b18-a10f-3e119b7a3026" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_f3c07300-8019-4595-a9ac-8b259505e790" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities"/>
    <link:calculationArc order="11" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_4fb0a829-bf08-4def-b232-a6322effefb4" xlink:to="loc_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_f3c07300-8019-4595-a9ac-8b259505e790" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherAccountsPayable_2381b90b-b964-40d8-a7ce-e39b39b8191b" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInOtherAccountsPayable"/>
    <link:calculationArc order="12" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_4fb0a829-bf08-4def-b232-a6322effefb4" xlink:to="loc_us-gaap_IncreaseDecreaseInOtherAccountsPayable_2381b90b-b964-40d8-a7ce-e39b39b8191b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities_add4aea5-d366-43fe-93a5-0367a359b8c9" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities"/>
    <link:calculationArc order="13" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_4fb0a829-bf08-4def-b232-a6322effefb4" xlink:to="loc_us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities_add4aea5-d366-43fe-93a5-0367a359b8c9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInContractWithCustomerLiability_62c6075a-52be-4fa6-ab81-29e1d437e872" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInContractWithCustomerLiability"/>
    <link:calculationArc order="14" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_4fb0a829-bf08-4def-b232-a6322effefb4" xlink:to="loc_us-gaap_IncreaseDecreaseInContractWithCustomerLiability_62c6075a-52be-4fa6-ab81-29e1d437e872" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_ddb5ee88-92c0-4c49-9147-603987c0d4cb" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingLiabilities"/>
    <link:calculationArc order="15" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_4fb0a829-bf08-4def-b232-a6322effefb4" xlink:to="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_ddb5ee88-92c0-4c49-9147-603987c0d4cb" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestructuringCostsAndAssetImpairmentCharges_db694eac-8dc4-4022-b5ca-72701c7ee623" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RestructuringCostsAndAssetImpairmentCharges"/>
    <link:calculationArc order="16" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_4fb0a829-bf08-4def-b232-a6322effefb4" xlink:to="loc_us-gaap_RestructuringCostsAndAssetImpairmentCharges_db694eac-8dc4-4022-b5ca-72701c7ee623" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxCreditsAndAdjustments_d680e58b-7c55-4103-8ed3-86f3ecd2313e" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxCreditsAndAdjustments"/>
    <link:calculationArc order="17" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_4fb0a829-bf08-4def-b232-a6322effefb4" xlink:to="loc_us-gaap_IncomeTaxCreditsAndAdjustments_d680e58b-7c55-4103-8ed3-86f3ecd2313e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GainOnSaleOfInvestments_dfec14a4-5a99-46c8-a907-1b5813aa036d" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GainOnSaleOfInvestments"/>
    <link:calculationArc order="18" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_4fb0a829-bf08-4def-b232-a6322effefb4" xlink:to="loc_us-gaap_GainOnSaleOfInvestments_dfec14a4-5a99-46c8-a907-1b5813aa036d" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.nasdaq.com/role/OrganizationandNatureofOperations" xlink:type="simple" xlink:href="ndaq-20201231.xsd#OrganizationandNatureofOperations"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/OrganizationandNatureofOperations" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/OrganizationandNatureofOperationsNarrativeDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#OrganizationandNatureofOperationsNarrativeDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/OrganizationandNatureofOperationsNarrativeDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/SummaryofSignificantAccountingPolicies" xlink:type="simple" xlink:href="ndaq-20201231.xsd#SummaryofSignificantAccountingPolicies"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/SummaryofSignificantAccountingPolicies" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/SummaryofSignificantAccountingPoliciesPolicies" xlink:type="simple" xlink:href="ndaq-20201231.xsd#SummaryofSignificantAccountingPoliciesPolicies"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/SummaryofSignificantAccountingPoliciesPolicies" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/SummaryofSignificantAccountingPoliciesNarrativeDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#SummaryofSignificantAccountingPoliciesNarrativeDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/SummaryofSignificantAccountingPoliciesNarrativeDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/RevenueFromContractsWithCustomers" xlink:type="simple" xlink:href="ndaq-20201231.xsd#RevenueFromContractsWithCustomers"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/RevenueFromContractsWithCustomers" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/RevenueFromContractsWithCustomersTables" xlink:type="simple" xlink:href="ndaq-20201231.xsd#RevenueFromContractsWithCustomersTables"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/RevenueFromContractsWithCustomersTables" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/RevenueFromContractsWithCustomersRevenuebyProductServiceandSegmentDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#RevenueFromContractsWithCustomersRevenuebyProductServiceandSegmentDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/RevenueFromContractsWithCustomersRevenuebyProductServiceandSegmentDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/RevenueFromContractsWithCustomersNarrativeDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#RevenueFromContractsWithCustomersNarrativeDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/RevenueFromContractsWithCustomersNarrativeDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/RevenueFromContractsWithCustomersRemainingPerformanceObligationDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#RevenueFromContractsWithCustomersRemainingPerformanceObligationDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/RevenueFromContractsWithCustomersRemainingPerformanceObligationDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/RevenueFromContractsWithCustomersRemainingPerformanceObligationDetails_1" xlink:type="simple" xlink:href="ndaq-20201231.xsd#RevenueFromContractsWithCustomersRemainingPerformanceObligationDetails_1"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/RevenueFromContractsWithCustomersRemainingPerformanceObligationDetails_1" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/AcquisitionsandDivestiture" xlink:type="simple" xlink:href="ndaq-20201231.xsd#AcquisitionsandDivestiture"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/AcquisitionsandDivestiture" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/AcquisitionsandDivestitureTables" xlink:type="simple" xlink:href="ndaq-20201231.xsd#AcquisitionsandDivestitureTables"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/AcquisitionsandDivestitureTables" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/AcquisitionsandDivestiture2021and2020AcquisitionDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#AcquisitionsandDivestiture2021and2020AcquisitionDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/AcquisitionsandDivestiture2021and2020AcquisitionDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/AcquisitionsandDivestiture2019DivestitureandAcquisitionDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#AcquisitionsandDivestiture2019DivestitureandAcquisitionDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/AcquisitionsandDivestiture2019DivestitureandAcquisitionDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/AcquisitionsandDivestitureIntangibleAssetsDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#AcquisitionsandDivestitureIntangibleAssetsDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/AcquisitionsandDivestitureIntangibleAssetsDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/GoodwillandAcquiredIntangibleAssets" xlink:type="simple" xlink:href="ndaq-20201231.xsd#GoodwillandAcquiredIntangibleAssets"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/GoodwillandAcquiredIntangibleAssets" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/GoodwillandAcquiredIntangibleAssetsTables" xlink:type="simple" xlink:href="ndaq-20201231.xsd#GoodwillandAcquiredIntangibleAssetsTables"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/GoodwillandAcquiredIntangibleAssetsTables" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/GoodwillandAcquiredIntangibleAssetsScheduleofChangesinGoodwillDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#GoodwillandAcquiredIntangibleAssetsScheduleofChangesinGoodwillDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/GoodwillandAcquiredIntangibleAssetsScheduleofChangesinGoodwillDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/GoodwillandAcquiredIntangibleAssetsNarrativeDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#GoodwillandAcquiredIntangibleAssetsNarrativeDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/GoodwillandAcquiredIntangibleAssetsNarrativeDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/GoodwillandAcquiredIntangibleAssetsFiniteLivedandIndefiniteLivedIntangibleAssetsDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#GoodwillandAcquiredIntangibleAssetsFiniteLivedandIndefiniteLivedIntangibleAssetsDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/GoodwillandAcquiredIntangibleAssetsFiniteLivedandIndefiniteLivedIntangibleAssetsDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_a35b1367-775c-4e7c-bd6f-032ba2d7bbe5" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill_7bba6190-b125-4ed8-94ae-59879a825d62" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_a35b1367-775c-4e7c-bd6f-032ba2d7bbe5" xlink:to="loc_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill_7bba6190-b125-4ed8-94ae-59879a825d62" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsNet_1ef7c8ed-9260-4001-8379-6e63b156c929" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNet"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_a35b1367-775c-4e7c-bd6f-032ba2d7bbe5" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsNet_1ef7c8ed-9260-4001-8379-6e63b156c929" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsNet_2e6fa5bf-3646-4375-8187-c737d94ad781" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNet"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsGross_49957312-f1b1-49ba-a5d8-75922c15af4d" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsGross"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet_2e6fa5bf-3646-4375-8187-c737d94ad781" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsGross_49957312-f1b1-49ba-a5d8-75922c15af4d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_333af2c6-5c81-454d-8fa7-123bc14ad825" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet_2e6fa5bf-3646-4375-8187-c737d94ad781" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_333af2c6-5c81-454d-8fa7-123bc14ad825" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IntangibleAssetsGrossExcludingGoodwill_0c610826-fa16-4bbc-b6cc-57b34a40f81e" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IntangibleAssetsGrossExcludingGoodwill"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill_33b93d3b-6b45-4e0f-b9ae-016c6e350785" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IntangibleAssetsGrossExcludingGoodwill_0c610826-fa16-4bbc-b6cc-57b34a40f81e" xlink:to="loc_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill_33b93d3b-6b45-4e0f-b9ae-016c6e350785" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsGross_43716599-6fb9-4a93-a74a-0de5e2edddc0" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsGross"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IntangibleAssetsGrossExcludingGoodwill_0c610826-fa16-4bbc-b6cc-57b34a40f81e" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsGross_43716599-6fb9-4a93-a74a-0de5e2edddc0" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.nasdaq.com/role/GoodwillandAcquiredIntangibleAssetsFiniteLivedandIndefiniteLivedIntangibleAssetsDetails_1" xlink:type="simple" xlink:href="ndaq-20201231.xsd#GoodwillandAcquiredIntangibleAssetsFiniteLivedandIndefiniteLivedIntangibleAssetsDetails_1"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/GoodwillandAcquiredIntangibleAssetsFiniteLivedandIndefiniteLivedIntangibleAssetsDetails_1" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_cd8d8bf3-9371-499e-bc9b-5808d8aab3f9" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IntangibleAssetsGrossExcludingGoodwill_b92a03e1-487d-46d1-9d77-80f68c2bfbdb" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IntangibleAssetsGrossExcludingGoodwill"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_cd8d8bf3-9371-499e-bc9b-5808d8aab3f9" xlink:to="loc_us-gaap_IntangibleAssetsGrossExcludingGoodwill_b92a03e1-487d-46d1-9d77-80f68c2bfbdb" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_3f68fb64-e0c3-48bb-bc75-a01fed658dcf" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_cd8d8bf3-9371-499e-bc9b-5808d8aab3f9" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_3f68fb64-e0c3-48bb-bc75-a01fed658dcf" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.nasdaq.com/role/GoodwillandAcquiredIntangibleAssetsEstimatedFutureAmortizationExpenseDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#GoodwillandAcquiredIntangibleAssetsEstimatedFutureAmortizationExpenseDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/GoodwillandAcquiredIntangibleAssetsEstimatedFutureAmortizationExpenseDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_ndaq_FiniteLivedIntangibleAssetsNetExcludingForeignCurrencyTranslationAdjustment_8029c30d-072a-4a39-88a5-313c6157d659" xlink:href="ndaq-20201231.xsd#ndaq_FiniteLivedIntangibleAssetsNetExcludingForeignCurrencyTranslationAdjustment"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_97decbe5-062e-4454-a3c0-9949efb81332" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ndaq_FiniteLivedIntangibleAssetsNetExcludingForeignCurrencyTranslationAdjustment_8029c30d-072a-4a39-88a5-313c6157d659" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_97decbe5-062e-4454-a3c0-9949efb81332" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_d298b461-ee0c-4845-9e8d-56501c490503" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ndaq_FiniteLivedIntangibleAssetsNetExcludingForeignCurrencyTranslationAdjustment_8029c30d-072a-4a39-88a5-313c6157d659" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_d298b461-ee0c-4845-9e8d-56501c490503" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_76b74f9e-7353-467d-8557-6cb559066a48" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ndaq_FiniteLivedIntangibleAssetsNetExcludingForeignCurrencyTranslationAdjustment_8029c30d-072a-4a39-88a5-313c6157d659" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_76b74f9e-7353-467d-8557-6cb559066a48" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_67ed71af-b97b-4e18-9f2d-73b53d3fffde" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ndaq_FiniteLivedIntangibleAssetsNetExcludingForeignCurrencyTranslationAdjustment_8029c30d-072a-4a39-88a5-313c6157d659" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_67ed71af-b97b-4e18-9f2d-73b53d3fffde" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive_c9b31f99-7923-4b65-ae40-4414c12fd79f" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ndaq_FiniteLivedIntangibleAssetsNetExcludingForeignCurrencyTranslationAdjustment_8029c30d-072a-4a39-88a5-313c6157d659" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive_c9b31f99-7923-4b65-ae40-4414c12fd79f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_137a96b1-4986-41bf-937a-8d3052090c1b" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ndaq_FiniteLivedIntangibleAssetsNetExcludingForeignCurrencyTranslationAdjustment_8029c30d-072a-4a39-88a5-313c6157d659" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_137a96b1-4986-41bf-937a-8d3052090c1b" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.nasdaq.com/role/Investments" xlink:type="simple" xlink:href="ndaq-20201231.xsd#Investments"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/Investments" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/InvestmentsTables" xlink:type="simple" xlink:href="ndaq-20201231.xsd#InvestmentsTables"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/InvestmentsTables" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/InvestmentsScheduleofInvestmentsDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#InvestmentsScheduleofInvestmentsDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/InvestmentsScheduleofInvestmentsDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/InvestmentsNarrativeDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#InvestmentsNarrativeDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/InvestmentsNarrativeDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/PropertyandEquipmentnet" xlink:type="simple" xlink:href="ndaq-20201231.xsd#PropertyandEquipmentnet"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/PropertyandEquipmentnet" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/PropertyandEquipmentnetTables" xlink:type="simple" xlink:href="ndaq-20201231.xsd#PropertyandEquipmentnetTables"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/PropertyandEquipmentnetTables" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/PropertyandEquipmentnetScheduleofPropertyandEquipmentNetDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#PropertyandEquipmentnetScheduleofPropertyandEquipmentNetDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/PropertyandEquipmentnetScheduleofPropertyandEquipmentNetDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentNet_8ee7498b-c9e1-4074-8bde-e0cd5d9b6478" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentGross_405f26bd-509a-4a32-b335-d9b3c00a3c65" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGross"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentNet_8ee7498b-c9e1-4074-8bde-e0cd5d9b6478" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentGross_405f26bd-509a-4a32-b335-d9b3c00a3c65" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_475478b9-e6e8-4d90-814f-70703c00d5be" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentNet_8ee7498b-c9e1-4074-8bde-e0cd5d9b6478" xlink:to="loc_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_475478b9-e6e8-4d90-814f-70703c00d5be" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.nasdaq.com/role/PropertyandEquipmentnetNarrativeDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#PropertyandEquipmentnetNarrativeDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/PropertyandEquipmentnetNarrativeDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/DeferredRevenue" xlink:type="simple" xlink:href="ndaq-20201231.xsd#DeferredRevenue"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/DeferredRevenue" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/DeferredRevenueTables" xlink:type="simple" xlink:href="ndaq-20201231.xsd#DeferredRevenueTables"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/DeferredRevenueTables" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/DeferredRevenueChangesinDeferredRevenueDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#DeferredRevenueChangesinDeferredRevenueDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/DeferredRevenueChangesinDeferredRevenueDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/DeferredRevenueEstimatedDeferredRevenueDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#DeferredRevenueEstimatedDeferredRevenueDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/DeferredRevenueEstimatedDeferredRevenueDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ContractWithCustomerLiability_f324c59e-4208-458e-82bd-6292a32c5fd5" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiability"/>
    <link:loc xlink:type="locator" xlink:label="loc_ndaq_ContractWithCustomerLiabilityExpectedToBeRecognizedInYearTwo_668a7555-e40b-48a1-b2aa-67f5ce69e8ca" xlink:href="ndaq-20201231.xsd#ndaq_ContractWithCustomerLiabilityExpectedToBeRecognizedInYearTwo"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ContractWithCustomerLiability_f324c59e-4208-458e-82bd-6292a32c5fd5" xlink:to="loc_ndaq_ContractWithCustomerLiabilityExpectedToBeRecognizedInYearTwo_668a7555-e40b-48a1-b2aa-67f5ce69e8ca" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ndaq_ContractWithCustomerLiabilityExpectedToBeRecognizedAfterYearFive_ed2377d6-2add-4375-a07d-a0a2d7bb6a38" xlink:href="ndaq-20201231.xsd#ndaq_ContractWithCustomerLiabilityExpectedToBeRecognizedAfterYearFive"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ContractWithCustomerLiability_f324c59e-4208-458e-82bd-6292a32c5fd5" xlink:to="loc_ndaq_ContractWithCustomerLiabilityExpectedToBeRecognizedAfterYearFive_ed2377d6-2add-4375-a07d-a0a2d7bb6a38" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ndaq_ContractWithCustomerLiabilityExpectedToBeRecognizedInYearOne_d9cddccd-1c4b-46b6-8195-ac0f32ec047b" xlink:href="ndaq-20201231.xsd#ndaq_ContractWithCustomerLiabilityExpectedToBeRecognizedInYearOne"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ContractWithCustomerLiability_f324c59e-4208-458e-82bd-6292a32c5fd5" xlink:to="loc_ndaq_ContractWithCustomerLiabilityExpectedToBeRecognizedInYearOne_d9cddccd-1c4b-46b6-8195-ac0f32ec047b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ndaq_ContractWithCustomerLiabilityExpectedToBeRecognizedInYearFour_c0e7d565-5a87-411a-aa95-627d3aca6f8f" xlink:href="ndaq-20201231.xsd#ndaq_ContractWithCustomerLiabilityExpectedToBeRecognizedInYearFour"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ContractWithCustomerLiability_f324c59e-4208-458e-82bd-6292a32c5fd5" xlink:to="loc_ndaq_ContractWithCustomerLiabilityExpectedToBeRecognizedInYearFour_c0e7d565-5a87-411a-aa95-627d3aca6f8f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ndaq_ContractWithCustomerLiabilityExpectedToBeRecognizedInYearFive_aed7692d-ed81-4f73-953e-058a43d3e688" xlink:href="ndaq-20201231.xsd#ndaq_ContractWithCustomerLiabilityExpectedToBeRecognizedInYearFive"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ContractWithCustomerLiability_f324c59e-4208-458e-82bd-6292a32c5fd5" xlink:to="loc_ndaq_ContractWithCustomerLiabilityExpectedToBeRecognizedInYearFive_aed7692d-ed81-4f73-953e-058a43d3e688" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ndaq_ContractWithCustomerLiabilityExpectedToBeRecognizedInYearThree_ec9b4a7a-afc2-493b-8c43-860bc3039e8b" xlink:href="ndaq-20201231.xsd#ndaq_ContractWithCustomerLiabilityExpectedToBeRecognizedInYearThree"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ContractWithCustomerLiability_f324c59e-4208-458e-82bd-6292a32c5fd5" xlink:to="loc_ndaq_ContractWithCustomerLiabilityExpectedToBeRecognizedInYearThree_ec9b4a7a-afc2-493b-8c43-860bc3039e8b" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.nasdaq.com/role/DebtObligations" xlink:type="simple" xlink:href="ndaq-20201231.xsd#DebtObligations"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/DebtObligations" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/DebtObligationsTables" xlink:type="simple" xlink:href="ndaq-20201231.xsd#DebtObligationsTables"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/DebtObligationsTables" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/DebtObligationsChangesinDebtObligationsDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#DebtObligationsChangesinDebtObligationsDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/DebtObligationsChangesinDebtObligationsDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfDebt_ebd93029-cdae-43fa-be22-9b51d292a9de" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromIssuanceOfDebt"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfLongTermDebt_e6dd0ec9-7efb-4e89-a3b8-1cecd6a073ef" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromIssuanceOfLongTermDebt"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ProceedsFromIssuanceOfDebt_ebd93029-cdae-43fa-be22-9b51d292a9de" xlink:to="loc_us-gaap_ProceedsFromIssuanceOfLongTermDebt_e6dd0ec9-7efb-4e89-a3b8-1cecd6a073ef" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromShortTermDebt_3efaf40c-f6f0-4279-abb1-4c4744e39ca0" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromShortTermDebt"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ProceedsFromIssuanceOfDebt_ebd93029-cdae-43fa-be22-9b51d292a9de" xlink:to="loc_us-gaap_ProceedsFromShortTermDebt_3efaf40c-f6f0-4279-abb1-4c4744e39ca0" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ndaq_PaymentsAccretionsAndOtherOfLongTermAndShortTermDebt_5408c609-c897-4696-9a12-eb58af4ecd39" xlink:href="ndaq-20201231.xsd#ndaq_PaymentsAccretionsAndOtherOfLongTermAndShortTermDebt"/>
    <link:loc xlink:type="locator" xlink:label="loc_ndaq_PaymentsAccretionsAndOtherofLongtermDebt_51615868-2efb-4424-b4f8-c7e157cd5cb9" xlink:href="ndaq-20201231.xsd#ndaq_PaymentsAccretionsAndOtherofLongtermDebt"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ndaq_PaymentsAccretionsAndOtherOfLongTermAndShortTermDebt_5408c609-c897-4696-9a12-eb58af4ecd39" xlink:to="loc_ndaq_PaymentsAccretionsAndOtherofLongtermDebt_51615868-2efb-4424-b4f8-c7e157cd5cb9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RepaymentsOfShortTermDebt_44efd625-725c-4eb0-b770-8e961733439f" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RepaymentsOfShortTermDebt"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ndaq_PaymentsAccretionsAndOtherOfLongTermAndShortTermDebt_5408c609-c897-4696-9a12-eb58af4ecd39" xlink:to="loc_us-gaap_RepaymentsOfShortTermDebt_44efd625-725c-4eb0-b770-8e961733439f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtLongtermAndShorttermCombinedAmount_12de6915-f9b2-4e77-a9f4-f671930bf27c" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtLongtermAndShorttermCombinedAmount"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebt_d9fec3b6-2e51-4872-abfd-8a8bbebf1e00" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebt"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DebtLongtermAndShorttermCombinedAmount_12de6915-f9b2-4e77-a9f4-f671930bf27c" xlink:to="loc_us-gaap_LongTermDebt_d9fec3b6-2e51-4872-abfd-8a8bbebf1e00" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShortTermBorrowings_5072e75d-ace3-4655-a531-e9b31556c665" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShortTermBorrowings"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DebtLongtermAndShorttermCombinedAmount_12de6915-f9b2-4e77-a9f4-f671930bf27c" xlink:to="loc_us-gaap_ShortTermBorrowings_5072e75d-ace3-4655-a531-e9b31556c665" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.nasdaq.com/role/DebtObligationsCommercialPaperDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#DebtObligationsCommercialPaperDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/DebtObligationsCommercialPaperDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/DebtObligationsSeniorUnsecuredNotesDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#DebtObligationsSeniorUnsecuredNotesDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/DebtObligationsSeniorUnsecuredNotesDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/DebtObligationsEarlyExtinguishmentof3875SeniorUnsecuredNotesDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#DebtObligationsEarlyExtinguishmentof3875SeniorUnsecuredNotesDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/DebtObligationsEarlyExtinguishmentof3875SeniorUnsecuredNotesDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/DebtObligations425SeniorUnsecuredNotesDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#DebtObligations425SeniorUnsecuredNotesDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/DebtObligations425SeniorUnsecuredNotesDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/DebtObligations175SeniorUnsecuredNotesDue2023Details" xlink:type="simple" xlink:href="ndaq-20201231.xsd#DebtObligations175SeniorUnsecuredNotesDue2023Details"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/DebtObligations175SeniorUnsecuredNotesDue2023Details" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/DebtObligations385SeniorUnsecuredNotesDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#DebtObligations385SeniorUnsecuredNotesDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/DebtObligations385SeniorUnsecuredNotesDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/DebtObligations175SeniorUnsecuredNotesDue2029Details" xlink:type="simple" xlink:href="ndaq-20201231.xsd#DebtObligations175SeniorUnsecuredNotesDue2029Details"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/DebtObligations175SeniorUnsecuredNotesDue2029Details" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/DebtObligations0875SeniorUnsecuredNotesDue2030Details" xlink:type="simple" xlink:href="ndaq-20201231.xsd#DebtObligations0875SeniorUnsecuredNotesDue2030Details"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/DebtObligations0875SeniorUnsecuredNotesDue2030Details" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/DebtObligations325SeniorUnsecuredNotesDue2050Details" xlink:type="simple" xlink:href="ndaq-20201231.xsd#DebtObligations325SeniorUnsecuredNotesDue2050Details"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/DebtObligations325SeniorUnsecuredNotesDue2050Details" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/DebtObligationsSeniorUnsecuredNotesDue20222031and2040Details" xlink:type="simple" xlink:href="ndaq-20201231.xsd#DebtObligationsSeniorUnsecuredNotesDue20222031and2040Details"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/DebtObligationsSeniorUnsecuredNotesDue20222031and2040Details" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/DebtObligationsCreditFacilitiesDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#DebtObligationsCreditFacilitiesDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/DebtObligationsCreditFacilitiesDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/DebtObligationsOtherCreditFacilitiesDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#DebtObligationsOtherCreditFacilitiesDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/DebtObligationsOtherCreditFacilitiesDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/RetirementPlans" xlink:type="simple" xlink:href="ndaq-20201231.xsd#RetirementPlans"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/RetirementPlans" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/RetirementPlansTables" xlink:type="simple" xlink:href="ndaq-20201231.xsd#RetirementPlansTables"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/RetirementPlansTables" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/RetirementPlansNarrativeDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#RetirementPlansNarrativeDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/RetirementPlansNarrativeDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/RetirementPlansScheduleofExpectedBenefitPaymentsDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#RetirementPlansScheduleofExpectedBenefitPaymentsDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/RetirementPlansScheduleofExpectedBenefitPaymentsDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_ndaq_DefinedBenefitPlanExpectedFutureBenefitPayments_17fa443a-f343-4877-9261-6bacc38a9efd" xlink:href="ndaq-20201231.xsd#ndaq_DefinedBenefitPlanExpectedFutureBenefitPayments"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths_df8b2a31-eaa3-4d95-b12e-ad0c570e9837" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ndaq_DefinedBenefitPlanExpectedFutureBenefitPayments_17fa443a-f343-4877-9261-6bacc38a9efd" xlink:to="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths_df8b2a31-eaa3-4d95-b12e-ad0c570e9837" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo_2dcadb17-e418-4d44-aaa4-e2625a0a303f" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ndaq_DefinedBenefitPlanExpectedFutureBenefitPayments_17fa443a-f343-4877-9261-6bacc38a9efd" xlink:to="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo_2dcadb17-e418-4d44-aaa4-e2625a0a303f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree_b22c7c7c-b8cd-4b21-bf18-e7d62c01adc1" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ndaq_DefinedBenefitPlanExpectedFutureBenefitPayments_17fa443a-f343-4877-9261-6bacc38a9efd" xlink:to="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree_b22c7c7c-b8cd-4b21-bf18-e7d62c01adc1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour_65bb142b-9a73-4467-9404-e076a2f872e6" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ndaq_DefinedBenefitPlanExpectedFutureBenefitPayments_17fa443a-f343-4877-9261-6bacc38a9efd" xlink:to="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour_65bb142b-9a73-4467-9404-e076a2f872e6" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive_80ff2bac-abe5-48fa-b939-7f1e4bc082c2" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ndaq_DefinedBenefitPlanExpectedFutureBenefitPayments_17fa443a-f343-4877-9261-6bacc38a9efd" xlink:to="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive_80ff2bac-abe5-48fa-b939-7f1e4bc082c2" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter_3cf9fa87-b0d0-4c95-aba6-6c9de3b82d97" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ndaq_DefinedBenefitPlanExpectedFutureBenefitPayments_17fa443a-f343-4877-9261-6bacc38a9efd" xlink:to="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter_3cf9fa87-b0d0-4c95-aba6-6c9de3b82d97" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.nasdaq.com/role/ShareBasedCompensation" xlink:type="simple" xlink:href="ndaq-20201231.xsd#ShareBasedCompensation"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/ShareBasedCompensation" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/ShareBasedCompensationTables" xlink:type="simple" xlink:href="ndaq-20201231.xsd#ShareBasedCompensationTables"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/ShareBasedCompensationTables" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/ShareBasedCompensationNarrativeDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#ShareBasedCompensationNarrativeDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/ShareBasedCompensationNarrativeDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/ShareBasedCompensationSummaryofShareBasedCompensationExpenseDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#ShareBasedCompensationSummaryofShareBasedCompensationExpenseDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/ShareBasedCompensationSummaryofShareBasedCompensationExpenseDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax_9b753050-eadb-4611-9459-0aa0f639781a" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense_f043c4f6-5ab2-4fe6-a927-3edac62c3117" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax_9b753050-eadb-4611-9459-0aa0f639781a" xlink:to="loc_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense_f043c4f6-5ab2-4fe6-a927-3edac62c3117" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AllocatedShareBasedCompensationExpense_a4bff80c-5203-4ffe-8cdc-0898844549fd" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpense"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax_9b753050-eadb-4611-9459-0aa0f639781a" xlink:to="loc_us-gaap_AllocatedShareBasedCompensationExpense_a4bff80c-5203-4ffe-8cdc-0898844549fd" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.nasdaq.com/role/ShareBasedCompensationSummaryofRestrictedStockActivityDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#ShareBasedCompensationSummaryofRestrictedStockActivityDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/ShareBasedCompensationSummaryofRestrictedStockActivityDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/ShareBasedCompensationScheduleofWeightedAverageAssumptionsUsedtoDetermineWeightedAverageFairValuesDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#ShareBasedCompensationScheduleofWeightedAverageAssumptionsUsedtoDetermineWeightedAverageFairValuesDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/ShareBasedCompensationScheduleofWeightedAverageAssumptionsUsedtoDetermineWeightedAverageFairValuesDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/ShareBasedCompensationSummaryofPSUActivityDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#ShareBasedCompensationSummaryofPSUActivityDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/ShareBasedCompensationSummaryofPSUActivityDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/ShareBasedCompensationSummaryofStockOptionActivityDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#ShareBasedCompensationSummaryofStockOptionActivityDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/ShareBasedCompensationSummaryofStockOptionActivityDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/ShareBasedCompensationSummaryofEmployeeStockPurchasePlanDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#ShareBasedCompensationSummaryofEmployeeStockPurchasePlanDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/ShareBasedCompensationSummaryofEmployeeStockPurchasePlanDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/NasdaqStockholdersEquity" xlink:type="simple" xlink:href="ndaq-20201231.xsd#NasdaqStockholdersEquity"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/NasdaqStockholdersEquity" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/NasdaqStockholdersEquityTables" xlink:type="simple" xlink:href="ndaq-20201231.xsd#NasdaqStockholdersEquityTables"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/NasdaqStockholdersEquityTables" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/NasdaqStockholdersEquityNarrativeDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#NasdaqStockholdersEquityNarrativeDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/NasdaqStockholdersEquityNarrativeDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/NasdaqStockholdersEquityCommonStockinTreasuryDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#NasdaqStockholdersEquityCommonStockinTreasuryDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/NasdaqStockholdersEquityCommonStockinTreasuryDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/NasdaqStockholdersEquityScheduleofDividendsDeclaredDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#NasdaqStockholdersEquityScheduleofDividendsDeclaredDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/NasdaqStockholdersEquityScheduleofDividendsDeclaredDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/EarningsPerShare" xlink:type="simple" xlink:href="ndaq-20201231.xsd#EarningsPerShare"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/EarningsPerShare" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/EarningsPerShareTables" xlink:type="simple" xlink:href="ndaq-20201231.xsd#EarningsPerShareTables"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/EarningsPerShareTables" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/EarningsPerShareDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#EarningsPerShareDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/EarningsPerShareDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_89d5b2fa-d04b-4c93-a683-b281fca36b89" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_bf9ab997-a7b4-4f2f-8843-054f4890b551" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_89d5b2fa-d04b-4c93-a683-b281fca36b89" xlink:to="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_bf9ab997-a7b4-4f2f-8843-054f4890b551" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_4590592e-d39d-41c9-900f-f78637a7551a" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_89d5b2fa-d04b-4c93-a683-b281fca36b89" xlink:to="loc_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_4590592e-d39d-41c9-900f-f78637a7551a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncrementalCommonSharesAttributableToContingentlyIssuableShares_67feb6ca-f68c-44a0-bd44-d60158084846" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncrementalCommonSharesAttributableToContingentlyIssuableShares"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_89d5b2fa-d04b-4c93-a683-b281fca36b89" xlink:to="loc_us-gaap_IncrementalCommonSharesAttributableToContingentlyIssuableShares_67feb6ca-f68c-44a0-bd44-d60158084846" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.nasdaq.com/role/FairValueofFinancialInstruments" xlink:type="simple" xlink:href="ndaq-20201231.xsd#FairValueofFinancialInstruments"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/FairValueofFinancialInstruments" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/FairValueofFinancialInstrumentsTables" xlink:type="simple" xlink:href="ndaq-20201231.xsd#FairValueofFinancialInstrumentsTables"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/FairValueofFinancialInstrumentsTables" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/FairValueofFinancialInstrumentsScheduleofFinancialAssetsandLiabilitiesMeasuredatFairValueonRecurringBasisDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#FairValueofFinancialInstrumentsScheduleofFinancialAssetsandLiabilitiesMeasuredatFairValueonRecurringBasisDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/FairValueofFinancialInstrumentsScheduleofFinancialAssetsandLiabilitiesMeasuredatFairValueonRecurringBasisDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/FairValueofFinancialInstrumentsNarrativeDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#FairValueofFinancialInstrumentsNarrativeDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/FairValueofFinancialInstrumentsNarrativeDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/ClearingOperations" xlink:type="simple" xlink:href="ndaq-20201231.xsd#ClearingOperations"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/ClearingOperations" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/ClearingOperationsTables" xlink:type="simple" xlink:href="ndaq-20201231.xsd#ClearingOperationsTables"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/ClearingOperationsTables" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/ClearingOperationsNarrativeDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#ClearingOperationsNarrativeDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/ClearingOperationsNarrativeDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/ClearingOperationsScheduleofClearingMemberDefaultFundContributionsAndMarginDepositsDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#ClearingOperationsScheduleofClearingMemberDefaultFundContributionsAndMarginDepositsDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/ClearingOperationsScheduleofClearingMemberDefaultFundContributionsAndMarginDepositsDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_ndaq_DefaultFundContributionsAndMarginDeposits_80a2660b-65ec-443f-9277-6829906a4237" xlink:href="ndaq-20201231.xsd#ndaq_DefaultFundContributionsAndMarginDeposits"/>
    <link:loc xlink:type="locator" xlink:label="loc_ndaq_DefaultFundContributions_bb9a9030-a0e7-4d84-b0da-31c8e176d350" xlink:href="ndaq-20201231.xsd#ndaq_DefaultFundContributions"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ndaq_DefaultFundContributionsAndMarginDeposits_80a2660b-65ec-443f-9277-6829906a4237" xlink:to="loc_ndaq_DefaultFundContributions_bb9a9030-a0e7-4d84-b0da-31c8e176d350" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ndaq_MarginDeposits_420f53ba-f4c3-4249-bb7e-cca51d95827f" xlink:href="ndaq-20201231.xsd#ndaq_MarginDeposits"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ndaq_DefaultFundContributionsAndMarginDeposits_80a2660b-65ec-443f-9277-6829906a4237" xlink:to="loc_ndaq_MarginDeposits_420f53ba-f4c3-4249-bb7e-cca51d95827f" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.nasdaq.com/role/ClearingOperationsInvestmentPolicyDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#ClearingOperationsInvestmentPolicyDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/ClearingOperationsInvestmentPolicyDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/ClearingOperationsScheduleofDerivativeContractsDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#ClearingOperationsScheduleofDerivativeContractsDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/ClearingOperationsScheduleofDerivativeContractsDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/Leases" xlink:type="simple" xlink:href="ndaq-20201231.xsd#Leases"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/Leases" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/LeasesTables" xlink:type="simple" xlink:href="ndaq-20201231.xsd#LeasesTables"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/LeasesTables" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/LeasesSummaryofSupplementalBalanceSheetInformationRelatedtoOperatingLeasesDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#LeasesSummaryofSupplementalBalanceSheetInformationRelatedtoOperatingLeasesDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/LeasesSummaryofSupplementalBalanceSheetInformationRelatedtoOperatingLeasesDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_ndaq_LeaseLiability_27e966c1-b3c7-43cf-9308-289b9c070f8e" xlink:href="ndaq-20201231.xsd#ndaq_LeaseLiability"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLiabilityCurrent_eda8c304-1272-49e6-a09f-48428653a76b" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityCurrent"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ndaq_LeaseLiability_27e966c1-b3c7-43cf-9308-289b9c070f8e" xlink:to="loc_us-gaap_OperatingLeaseLiabilityCurrent_eda8c304-1272-49e6-a09f-48428653a76b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLiabilityNoncurrent_61cbe7b9-5f72-4b9a-98d2-98177859cbfa" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityNoncurrent"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ndaq_LeaseLiability_27e966c1-b3c7-43cf-9308-289b9c070f8e" xlink:to="loc_us-gaap_OperatingLeaseLiabilityNoncurrent_61cbe7b9-5f72-4b9a-98d2-98177859cbfa" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.nasdaq.com/role/LeasesLeasesCostDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#LeasesLeasesCostDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/LeasesLeasesCostDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LeaseCost_07679c20-ace9-4745-a9b1-708eb7baaacf" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LeaseCost"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseCost_6c30acce-86d6-4a93-b6a5-31494bf844fb" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseCost"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LeaseCost_07679c20-ace9-4745-a9b1-708eb7baaacf" xlink:to="loc_us-gaap_OperatingLeaseCost_6c30acce-86d6-4a93-b6a5-31494bf844fb" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableLeaseCost_ddd4af39-d036-48af-8548-359e8e51c872" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_VariableLeaseCost"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LeaseCost_07679c20-ace9-4745-a9b1-708eb7baaacf" xlink:to="loc_us-gaap_VariableLeaseCost_ddd4af39-d036-48af-8548-359e8e51c872" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubleaseIncome_9e51738d-11ef-43f5-af60-d4ea9654f78f" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SubleaseIncome"/>
    <link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LeaseCost_07679c20-ace9-4745-a9b1-708eb7baaacf" xlink:to="loc_us-gaap_SubleaseIncome_9e51738d-11ef-43f5-af60-d4ea9654f78f" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.nasdaq.com/role/LeasesOperatingLeaseMaturityDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#LeasesOperatingLeaseMaturityDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/LeasesOperatingLeaseMaturityDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_8f6eb46c-afe1-4ad1-88bf-34e260f72124" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_99211fdb-d180-49b5-9581-db97b6806d38" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_8f6eb46c-afe1-4ad1-88bf-34e260f72124" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_99211fdb-d180-49b5-9581-db97b6806d38" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_98cc1501-ad15-46a0-9f2e-7ac542b234cb" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_8f6eb46c-afe1-4ad1-88bf-34e260f72124" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_98cc1501-ad15-46a0-9f2e-7ac542b234cb" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive_25852458-0614-40bf-b9bf-aee0ea09f243" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_8f6eb46c-afe1-4ad1-88bf-34e260f72124" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive_25852458-0614-40bf-b9bf-aee0ea09f243" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_c6777b33-28ba-40e8-89eb-40a1465bc2a7" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_8f6eb46c-afe1-4ad1-88bf-34e260f72124" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_c6777b33-28ba-40e8-89eb-40a1465bc2a7" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour_51948a35-a9cb-414c-8ad8-884cd4514684" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_8f6eb46c-afe1-4ad1-88bf-34e260f72124" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour_51948a35-a9cb-414c-8ad8-884cd4514684" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_34d3b71b-fbe4-440a-bc7e-4dcfe55fffff" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_8f6eb46c-afe1-4ad1-88bf-34e260f72124" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_34d3b71b-fbe4-440a-bc7e-4dcfe55fffff" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.nasdaq.com/role/LeasesOperatingLeaseMaturityDetails_1" xlink:type="simple" xlink:href="ndaq-20201231.xsd#LeasesOperatingLeaseMaturityDetails_1"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/LeasesOperatingLeaseMaturityDetails_1" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_17cc85e1-f4e5-4977-8864-bb777f4604c1" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_7cd76cef-46a8-4e56-a527-2d3b821d3e1b" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_17cc85e1-f4e5-4977-8864-bb777f4604c1" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_7cd76cef-46a8-4e56-a527-2d3b821d3e1b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLiability_4864796e-0e0a-451a-b7f6-f17040109a56" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiability"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_17cc85e1-f4e5-4977-8864-bb777f4604c1" xlink:to="loc_us-gaap_OperatingLeaseLiability_4864796e-0e0a-451a-b7f6-f17040109a56" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.nasdaq.com/role/LeasesNarrativeDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#LeasesNarrativeDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/LeasesNarrativeDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/LeasesLeasesTermsandDiscountRateDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#LeasesLeasesTermsandDiscountRateDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/LeasesLeasesTermsandDiscountRateDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/LeasesSupplementalCashFlowInformationDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#LeasesSupplementalCashFlowInformationDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/LeasesSupplementalCashFlowInformationDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/IncomeTaxes" xlink:type="simple" xlink:href="ndaq-20201231.xsd#IncomeTaxes"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/IncomeTaxes" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/IncomeTaxesTables" xlink:type="simple" xlink:href="ndaq-20201231.xsd#IncomeTaxesTables"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/IncomeTaxesTables" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/IncomeTaxesNarrativeDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#IncomeTaxesNarrativeDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/IncomeTaxesNarrativeDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/IncomeTaxesDomesticandForeignComponentsofIncomeBeforeIncomeTaxProvisionDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#IncomeTaxesDomesticandForeignComponentsofIncomeBeforeIncomeTaxProvisionDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/IncomeTaxesDomesticandForeignComponentsofIncomeBeforeIncomeTaxProvisionDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_df216e58-d343-4bff-9369-1c8db8b90fad" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_24f8ece0-0816-4758-956c-730d9a35532a" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_df216e58-d343-4bff-9369-1c8db8b90fad" xlink:to="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_24f8ece0-0816-4758-956c-730d9a35532a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_aac4c14f-852a-48fa-a501-4f03d4342b9e" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_df216e58-d343-4bff-9369-1c8db8b90fad" xlink:to="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_aac4c14f-852a-48fa-a501-4f03d4342b9e" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.nasdaq.com/role/IncomeTaxesComponentsofIncomeTaxProvisionDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#IncomeTaxesComponentsofIncomeTaxProvisionDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/IncomeTaxesComponentsofIncomeTaxProvisionDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_f685a21b-5e02-49f0-ac84-b9af38a330c7" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CurrentIncomeTaxExpenseBenefit"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CurrentFederalTaxExpenseBenefit_c8eb2144-b759-4ca5-9884-127af0433852" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CurrentFederalTaxExpenseBenefit"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_f685a21b-5e02-49f0-ac84-b9af38a330c7" xlink:to="loc_us-gaap_CurrentFederalTaxExpenseBenefit_c8eb2144-b759-4ca5-9884-127af0433852" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CurrentForeignTaxExpenseBenefit_4bbd6f79-f5d0-4162-94e0-e317b09dd11a" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CurrentForeignTaxExpenseBenefit"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_f685a21b-5e02-49f0-ac84-b9af38a330c7" xlink:to="loc_us-gaap_CurrentForeignTaxExpenseBenefit_4bbd6f79-f5d0-4162-94e0-e317b09dd11a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CurrentStateAndLocalTaxExpenseBenefit_4194eb23-508e-464c-8374-984354c68cc1" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CurrentStateAndLocalTaxExpenseBenefit"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_f685a21b-5e02-49f0-ac84-b9af38a330c7" xlink:to="loc_us-gaap_CurrentStateAndLocalTaxExpenseBenefit_4194eb23-508e-464c-8374-984354c68cc1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_3fa59106-a32a-4ac0-a59b-26595a3e44fc" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_fbc8b642-4687-4a65-bce8-0d5ac54139da" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_3fa59106-a32a-4ac0-a59b-26595a3e44fc" xlink:to="loc_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_fbc8b642-4687-4a65-bce8-0d5ac54139da" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_6190d593-9767-4fe6-99c7-38662039ed19" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredFederalIncomeTaxExpenseBenefit"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_3fa59106-a32a-4ac0-a59b-26595a3e44fc" xlink:to="loc_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_6190d593-9767-4fe6-99c7-38662039ed19" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredForeignIncomeTaxExpenseBenefit_f4ca54a6-e5ec-49df-8414-0af7dc7e1a57" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredForeignIncomeTaxExpenseBenefit"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_3fa59106-a32a-4ac0-a59b-26595a3e44fc" xlink:to="loc_us-gaap_DeferredForeignIncomeTaxExpenseBenefit_f4ca54a6-e5ec-49df-8414-0af7dc7e1a57" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_d9603496-b31e-485d-b125-7268f30e3e23" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_9caf0dd7-1b43-44a0-bd1e-87ac13cf89a7" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CurrentIncomeTaxExpenseBenefit"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_d9603496-b31e-485d-b125-7268f30e3e23" xlink:to="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_9caf0dd7-1b43-44a0-bd1e-87ac13cf89a7" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_b5912170-22e7-429e-a797-93eeb7cf48df" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_d9603496-b31e-485d-b125-7268f30e3e23" xlink:to="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_b5912170-22e7-429e-a797-93eeb7cf48df" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.nasdaq.com/role/IncomeTaxesReconciliationofProvisionofIncomeTaxesDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#IncomeTaxesReconciliationofProvisionofIncomeTaxesDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/IncomeTaxesReconciliationofProvisionofIncomeTaxesDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_8b73a29e-7c04-4465-b73a-3232904263b3" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateContinuingOperations"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_58ac1b9a-fdf0-4262-a1be-d73d7eb83a0c" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_8b73a29e-7c04-4465-b73a-3232904263b3" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_58ac1b9a-fdf0-4262-a1be-d73d7eb83a0c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_effe3fd8-0bd3-48f0-9f4b-cbe2c69da81a" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_8b73a29e-7c04-4465-b73a-3232904263b3" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_effe3fd8-0bd3-48f0-9f4b-cbe2c69da81a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate_de8c7a66-cfe5-41a3-96ad-36f50cd30e75" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_8b73a29e-7c04-4465-b73a-3232904263b3" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate_de8c7a66-cfe5-41a3-96ad-36f50cd30e75" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent_fa205916-4b58-42dc-b865-acb2ccfb8ccf" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_8b73a29e-7c04-4465-b73a-3232904263b3" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent_fa205916-4b58-42dc-b865-acb2ccfb8ccf" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_8284564a-1500-46a6-8163-507ff3f78b0e" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_8b73a29e-7c04-4465-b73a-3232904263b3" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_8284564a-1500-46a6-8163-507ff3f78b0e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCredits_1151de8b-7162-4a84-a059-5a405d16cd85" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationTaxCredits"/>
    <link:calculationArc order="6" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_8b73a29e-7c04-4465-b73a-3232904263b3" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCredits_1151de8b-7162-4a84-a059-5a405d16cd85" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ndaq_EffectiveIncomeTaxRateReconciliationChangeInUnrecognizedTaxBenefitsPercent_e86db627-5b72-4249-a92c-8362bd77fbc1" xlink:href="ndaq-20201231.xsd#ndaq_EffectiveIncomeTaxRateReconciliationChangeInUnrecognizedTaxBenefitsPercent"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_8b73a29e-7c04-4465-b73a-3232904263b3" xlink:to="loc_ndaq_EffectiveIncomeTaxRateReconciliationChangeInUnrecognizedTaxBenefitsPercent_e86db627-5b72-4249-a92c-8362bd77fbc1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments_cbd27192-4be8-4061-a3b6-99a2eac7984a" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments"/>
    <link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_8b73a29e-7c04-4465-b73a-3232904263b3" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments_cbd27192-4be8-4061-a3b6-99a2eac7984a" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.nasdaq.com/role/IncomeTaxesScheduleofDeferredTaxAssetsandLiabilitiesDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#IncomeTaxesScheduleofDeferredTaxAssetsandLiabilitiesDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/IncomeTaxesScheduleofDeferredTaxAssetsandLiabilitiesDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxLiabilities_1193f2a9-3850-4001-879c-458cc4853eef" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxAssetsNet_af79e083-0c8d-4e8c-b7c0-92c89b6327ec" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxAssetsNet"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxLiabilities_1193f2a9-3850-4001-879c-458cc4853eef" xlink:to="loc_us-gaap_DeferredIncomeTaxAssetsNet_af79e083-0c8d-4e8c-b7c0-92c89b6327ec" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxLiabilitiesNet_b59f50ea-ee29-4532-9ed7-8bc7a74ff830" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxLiabilitiesNet"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxLiabilities_1193f2a9-3850-4001-879c-458cc4853eef" xlink:to="loc_us-gaap_DeferredIncomeTaxLiabilitiesNet_b59f50ea-ee29-4532-9ed7-8bc7a74ff830" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxLiabilities_6d07e59c-090b-48d7-b714-832c03f06438" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxLiabilities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesDeferredExpenseCapitalizedSoftware_429b509b-efc0-4608-91e2-2d205ab972e3" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilitiesDeferredExpenseCapitalizedSoftware"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_6d07e59c-090b-48d7-b714-832c03f06438" xlink:to="loc_us-gaap_DeferredTaxLiabilitiesDeferredExpenseCapitalizedSoftware_429b509b-efc0-4608-91e2-2d205ab972e3" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets_bc20183f-a115-4e28-b10a-270621c6f452" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_6d07e59c-090b-48d7-b714-832c03f06438" xlink:to="loc_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets_bc20183f-a115-4e28-b10a-270621c6f452" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesInvestments_b51becc1-0618-4c97-80da-8f72efd162e4" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilitiesInvestments"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_6d07e59c-090b-48d7-b714-832c03f06438" xlink:to="loc_us-gaap_DeferredTaxLiabilitiesInvestments_b51becc1-0618-4c97-80da-8f72efd162e4" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesOtherComprehensiveIncome_49a4b819-0e27-4af6-b563-36284db22cbe" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilitiesOtherComprehensiveIncome"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_6d07e59c-090b-48d7-b714-832c03f06438" xlink:to="loc_us-gaap_DeferredTaxLiabilitiesOtherComprehensiveIncome_49a4b819-0e27-4af6-b563-36284db22cbe" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ndaq_DeferredTaxLiabilitiesOperatingLeaseAssets_a88de921-a6fb-462e-99cb-c6ccd84417ab" xlink:href="ndaq-20201231.xsd#ndaq_DeferredTaxLiabilitiesOperatingLeaseAssets"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_6d07e59c-090b-48d7-b714-832c03f06438" xlink:to="loc_ndaq_DeferredTaxLiabilitiesOperatingLeaseAssets_a88de921-a6fb-462e-99cb-c6ccd84417ab" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesOther_a7025642-a4a7-4dec-b50e-c063cfb7ddeb" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilitiesOther"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_6d07e59c-090b-48d7-b714-832c03f06438" xlink:to="loc_us-gaap_DeferredTaxLiabilitiesOther_a7025642-a4a7-4dec-b50e-c063cfb7ddeb" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsNet_d5a47dbb-dfb6-4765-be90-add522abc129" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsNet"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsGross_812d6e1a-d705-4d16-9229-ab397e784fea" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsGross"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsNet_d5a47dbb-dfb6-4765-be90-add522abc129" xlink:to="loc_us-gaap_DeferredTaxAssetsGross_812d6e1a-d705-4d16-9229-ab397e784fea" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsValuationAllowance_c305e13d-f7b9-4a98-8138-8fd078d305f2" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsValuationAllowance"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsNet_d5a47dbb-dfb6-4765-be90-add522abc129" xlink:to="loc_us-gaap_DeferredTaxAssetsValuationAllowance_c305e13d-f7b9-4a98-8138-8fd078d305f2" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsGross_36c4fed0-dc8f-4b74-a046-5ad6650a0b32" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsGross"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsDeferredIncome_9abbfaf8-169c-4e34-881f-bb8ead4cb3c7" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsDeferredIncome"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_36c4fed0-dc8f-4b74-a046-5ad6650a0b32" xlink:to="loc_us-gaap_DeferredTaxAssetsDeferredIncome_9abbfaf8-169c-4e34-881f-bb8ead4cb3c7" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsOperatingLossCarryforwardsForeign_2c3d5587-e2be-43ff-9005-350fb14f8e49" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsOperatingLossCarryforwardsForeign"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_36c4fed0-dc8f-4b74-a046-5ad6650a0b32" xlink:to="loc_us-gaap_DeferredTaxAssetsOperatingLossCarryforwardsForeign_2c3d5587-e2be-43ff-9005-350fb14f8e49" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal_3c2085c4-a075-4ecc-81ce-0029cfa61e9f" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_36c4fed0-dc8f-4b74-a046-5ad6650a0b32" xlink:to="loc_us-gaap_DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal_3c2085c4-a075-4ecc-81ce-0029cfa61e9f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_428200de-2bad-42bf-99f8-0ea47025d5eb" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_36c4fed0-dc8f-4b74-a046-5ad6650a0b32" xlink:to="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_428200de-2bad-42bf-99f8-0ea47025d5eb" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ndaq_DeferredTaxAssetsFederalBenefitOfUncertainTaxPositions_9f64e521-7f94-4c40-b97b-fde7d569805e" xlink:href="ndaq-20201231.xsd#ndaq_DeferredTaxAssetsFederalBenefitOfUncertainTaxPositions"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_36c4fed0-dc8f-4b74-a046-5ad6650a0b32" xlink:to="loc_ndaq_DeferredTaxAssetsFederalBenefitOfUncertainTaxPositions_9f64e521-7f94-4c40-b97b-fde7d569805e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ndaq_DeferredTaxAssetsOperatingLeaseLiabilities_3b79082b-8794-4f33-a72d-1e8b25f5bbee" xlink:href="ndaq-20201231.xsd#ndaq_DeferredTaxAssetsOperatingLeaseLiabilities"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_36c4fed0-dc8f-4b74-a046-5ad6650a0b32" xlink:to="loc_ndaq_DeferredTaxAssetsOperatingLeaseLiabilities_3b79082b-8794-4f33-a72d-1e8b25f5bbee" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsOther_e6d01ac3-e52b-4ff8-a2ef-8a5c96e2d1f1" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsOther"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_36c4fed0-dc8f-4b74-a046-5ad6650a0b32" xlink:to="loc_us-gaap_DeferredTaxAssetsOther_e6d01ac3-e52b-4ff8-a2ef-8a5c96e2d1f1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsOperatingLossCarryforwardsDomestic_e45d9399-ceb0-47b7-bc37-922bc953801f" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsOperatingLossCarryforwardsDomestic"/>
    <link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_36c4fed0-dc8f-4b74-a046-5ad6650a0b32" xlink:to="loc_us-gaap_DeferredTaxAssetsOperatingLossCarryforwardsDomestic_e45d9399-ceb0-47b7-bc37-922bc953801f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsOtherComprehensiveLoss_3fc15c74-a436-482c-a65e-70bdc5c4b8b7" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsOtherComprehensiveLoss"/>
    <link:calculationArc order="9" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_36c4fed0-dc8f-4b74-a046-5ad6650a0b32" xlink:to="loc_us-gaap_DeferredTaxAssetsOtherComprehensiveLoss_3fc15c74-a436-482c-a65e-70bdc5c4b8b7" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.nasdaq.com/role/IncomeTaxesNetOperatingLossesandCreditsDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#IncomeTaxesNetOperatingLossesandCreditsDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/IncomeTaxesNetOperatingLossesandCreditsDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/IncomeTaxesReconciliationofUnrecognizedTaxBenefitsDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#IncomeTaxesReconciliationofUnrecognizedTaxBenefitsDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/IncomeTaxesReconciliationofUnrecognizedTaxBenefitsDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/CommitmentsContingenciesandGuarantees" xlink:type="simple" xlink:href="ndaq-20201231.xsd#CommitmentsContingenciesandGuarantees"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/CommitmentsContingenciesandGuarantees" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/CommitmentsContingenciesandGuaranteesDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#CommitmentsContingenciesandGuaranteesDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/CommitmentsContingenciesandGuaranteesDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/BusinessSegments" xlink:type="simple" xlink:href="ndaq-20201231.xsd#BusinessSegments"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/BusinessSegments" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/BusinessSegmentsTables" xlink:type="simple" xlink:href="ndaq-20201231.xsd#BusinessSegmentsTables"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/BusinessSegmentsTables" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/BusinessSegmentsNarrativeDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#BusinessSegmentsNarrativeDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/BusinessSegmentsNarrativeDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/BusinessSegmentsScheduleofOperatingSegmentsDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#BusinessSegmentsScheduleofOperatingSegmentsDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/BusinessSegmentsScheduleofOperatingSegmentsDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GrossProfit_92c10e23-af38-4cda-b9ef-5c6cf3e27221" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GrossProfit"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_e0e00666-f8af-4d64-87ba-8ca2396c5836" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_GrossProfit_92c10e23-af38-4cda-b9ef-5c6cf3e27221" xlink:to="loc_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_e0e00666-f8af-4d64-87ba-8ca2396c5836" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CostOfRevenue_a7e2af6e-cb47-474f-a155-3c0b7a928741" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CostOfRevenue"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_GrossProfit_92c10e23-af38-4cda-b9ef-5c6cf3e27221" xlink:to="loc_us-gaap_CostOfRevenue_a7e2af6e-cb47-474f-a155-3c0b7a928741" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.nasdaq.com/role/BusinessSegmentsCorporateItemsDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#BusinessSegmentsCorporateItemsDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/BusinessSegmentsCorporateItemsDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CostsAndExpenses_16166f06-469e-4b2c-9de5-8a31df67458e" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CostsAndExpenses"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestructuringCharges_6d9c66ee-cc45-43aa-96c4-1ac8ef5679a7" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RestructuringCharges"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CostsAndExpenses_16166f06-469e-4b2c-9de5-8a31df67458e" xlink:to="loc_us-gaap_RestructuringCharges_6d9c66ee-cc45-43aa-96c4-1ac8ef5679a7" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GainsLossesOnExtinguishmentOfDebt_b7253dbf-a26e-45a8-a411-c55f3b2db1f1" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GainsLossesOnExtinguishmentOfDebt"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CostsAndExpenses_16166f06-469e-4b2c-9de5-8a31df67458e" xlink:to="loc_us-gaap_GainsLossesOnExtinguishmentOfDebt_b7253dbf-a26e-45a8-a411-c55f3b2db1f1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoncashContributionExpense_f3bfe184-5d83-47b9-9467-6b741bf5b495" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NoncashContributionExpense"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CostsAndExpenses_16166f06-469e-4b2c-9de5-8a31df67458e" xlink:to="loc_us-gaap_NoncashContributionExpense_f3bfe184-5d83-47b9-9467-6b741bf5b495" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AmortizationOfIntangibleAssets_07109ad4-8554-4842-bad4-a62056182104" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AmortizationOfIntangibleAssets"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CostsAndExpenses_16166f06-469e-4b2c-9de5-8a31df67458e" xlink:to="loc_us-gaap_AmortizationOfIntangibleAssets_07109ad4-8554-4842-bad4-a62056182104" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherGeneralExpense_c299b51c-1079-4a31-97c2-3a58598e17a3" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherGeneralExpense"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CostsAndExpenses_16166f06-469e-4b2c-9de5-8a31df67458e" xlink:to="loc_us-gaap_OtherGeneralExpense_c299b51c-1079-4a31-97c2-3a58598e17a3" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ndaq_LossDueToCommoditiesMarketDefaultAllocatedToJuniorCapital_f37750c5-5c46-49ed-ab38-a5f347fc9fbf" xlink:href="ndaq-20201231.xsd#ndaq_LossDueToCommoditiesMarketDefaultAllocatedToJuniorCapital"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CostsAndExpenses_16166f06-469e-4b2c-9de5-8a31df67458e" xlink:to="loc_ndaq_LossDueToCommoditiesMarketDefaultAllocatedToJuniorCapital_f37750c5-5c46-49ed-ab38-a5f347fc9fbf" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationOperatingExpense_340f07d7-4f3f-43fb-a322-77e2c2f29865" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationOperatingExpense"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CostsAndExpenses_16166f06-469e-4b2c-9de5-8a31df67458e" xlink:to="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationOperatingExpense_340f07d7-4f3f-43fb-a322-77e2c2f29865" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProvisionForLoanAndLeaseLosses_19ec1f9e-f44b-45cf-a6fc-d9dd982d850a" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProvisionForLoanAndLeaseLosses"/>
    <link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CostsAndExpenses_16166f06-469e-4b2c-9de5-8a31df67458e" xlink:to="loc_us-gaap_ProvisionForLoanAndLeaseLosses_19ec1f9e-f44b-45cf-a6fc-d9dd982d850a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationAcquisitionRelatedCosts_92b52b8c-42bc-440b-a6d2-98f9660ab06e" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationAcquisitionRelatedCosts"/>
    <link:calculationArc order="9" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CostsAndExpenses_16166f06-469e-4b2c-9de5-8a31df67458e" xlink:to="loc_us-gaap_BusinessCombinationAcquisitionRelatedCosts_92b52b8c-42bc-440b-a6d2-98f9660ab06e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingIncomeLoss_f59d27a7-0e9e-4836-b72e-d3b7b14a8be4" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingIncomeLoss"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_e97f7ce0-b8fc-4a31-a89f-fdf085e42a74" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingIncomeLoss_f59d27a7-0e9e-4836-b72e-d3b7b14a8be4" xlink:to="loc_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_e97f7ce0-b8fc-4a31-a89f-fdf085e42a74" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CostsAndExpenses_2fe60099-b17b-4748-ae67-535171bce24c" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CostsAndExpenses"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingIncomeLoss_f59d27a7-0e9e-4836-b72e-d3b7b14a8be4" xlink:to="loc_us-gaap_CostsAndExpenses_2fe60099-b17b-4748-ae67-535171bce24c" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.nasdaq.com/role/BusinessSegmentsGeographicDataDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#BusinessSegmentsGeographicDataDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/BusinessSegmentsGeographicDataDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/RestructuringCharges" xlink:type="simple" xlink:href="ndaq-20201231.xsd#RestructuringCharges"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/RestructuringCharges" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/RestructuringChargesTables" xlink:type="simple" xlink:href="ndaq-20201231.xsd#RestructuringChargesTables"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/RestructuringChargesTables" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/RestructuringChargesNarrativeDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#RestructuringChargesNarrativeDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/RestructuringChargesNarrativeDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/RestructuringChargesSummaryofRestructuringPlanDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#RestructuringChargesSummaryofRestructuringPlanDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/RestructuringChargesSummaryofRestructuringPlanDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/SubsequentEvents" xlink:type="simple" xlink:href="ndaq-20201231.xsd#SubsequentEvents"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/SubsequentEvents" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.nasdaq.com/role/SubsequentEventsDetails" xlink:type="simple" xlink:href="ndaq-20201231.xsd#SubsequentEventsDetails"/>
  <link:calculationLink xlink:role="http://www.nasdaq.com/role/SubsequentEventsDetails" xlink:type="extended"/>
</link:linkbase>
