NASDAQ, originally an acronym for National Association of Securities Dealers Automated Quotations, is a stock exchange run by the National Association of Securities Dealers. When it began trading on February 8, 1971, it was the world's first electronic stock market. Since 1999, it is the largest American stock exchange with over half the companies traded in the United States listed. NASDAQ is made up of the NASDAQ National Market and the NASDAQ SmallCap Market. The physical presence of NASDAQ is known as MarketSite and is located in Times Square.
NASDAQ allows multiple market participants to trade through its electronic communications networks (ECNs) structure, increasing competition. The Small Order Execution System (SOES) is another NASDAQ feature, introduced in 1984, to ensure that in 'turbulent' market conditions small market orders are not forgotten but are automatically processed. On July 17, 1995 the NASDAQ stock index closed above the 1,000 mark for the first time. The index peaked at 5132.52 on March 10, 2000, which signaled the beginning of the end of the dot-com boom.
In 2002 NASDAQ adopted SuperMontage or SUMO, which allows market makers show up to 5 levels of their prices. Eventually, SOES was replaced by SUMO.
Shares in NASDAQ are traded on the NASDAQ National Market under the ticker symbol . The physical presence of NASDAQ is known as MarketSite and is located in Times Square.
- NASDAQ National Market
- NASDAQ SmallCap Market
- NASDAQ Composite
- NASDAQ National Market Composite Index
- NASDAQ Transportation Index
Last updated: 08-27-2005 10:11:51
Last updated: 08-29-2005 09:05:00