The Nasdaq Stock Market Inc. has reported a net loss of US$49 million for the second quarter.

Excluding the impact of its strategic review, which includes costs associated with the elimination of non-core product lines, initiatives and severance, the net loss was US$3.3 million for the period calculated on a Non-GAAP basis. The net loss applicable to common shareholders was US$51.5 million. Total revenue for the second quarter 2003 was US$151.4 million.

In June, Nasdaq announced plans to shutter its European operations to focus on its core business.

“As we move into the second half of 2003, Nasdaq is directing its energies toward becoming the dominant U.S. equity market,” noted Bob Greifeld, president and CEO. “After a comprehensive review of the business portfolio, we are executing a plan designed to leverage our brand and technology platform that best serves the interests of investors, traders, listed companies and that drives shareholder value.”

Nasdaq outlined its key strategic imperatives, which include: the expansion of the Corporate Client Group business to capture more of the Initial Public Offering market and attract listings from competing exchanges; increasing trading volume; and enhancing the value of its data products.

In order to support these objectives, Nasdaqis taking aggressive steps toward enhancing its customer-facing sales and marketing efforts. Greifeld noted, “We will demonstrate to current and potential customers the initiatives underway which will further increase the value of Nasdaq’s products and services.”