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NASDAQ

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Nasdaq
Nasdaq logo.svg
Type Stock exchange
Location One Liberty Plaza
165 Broadway, New York City, New York, U.S.
Founded February 4, 1971; 47 years ago
Owner Nasdaq, Inc.
Currency United States Dollar
No. of listings 3,321 (June 2018)[1]
Market cap Increase $10 trillion
Website Business.Nasdaq.com
The Nasdaq Stock Market (/ˈnæzˌdæk/ (About this sound listen), also known simply as Nasdaq)
is an American stock exchange. It is the second-largest stock exchange in the world by market
capitalization, behind only the New York Stock Exchange located in the same city.[2] The
exchange platform is owned by Nasdaq, Inc.,[3] which also owns the Nasdaq Nordic (formerly
known as OMX) and Nasdaq Baltic stock market network and several U.S. stock and options
exchanges

Contents
1 History
1.1 1971–1999
1.2 2000–present
2 Quote availability
3 Trading schedule
4 Market tiers
5 Average annualized growth rate
6 See also
7 References
8 External links
History
1971–1999
"Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated
Quotations.[4] It was founded in 1971 by the National Association of Securities Dealers
(NASD),[5] which divested itself of Nasdaq in a series of sales in 2000 and 2001. The Nasdaq
Stock Market is owned and operated by Nasdaq, Inc., the stock of which was listed on its own
securities exchange on July 2, 2002, under the ticker symbol NDAQ.

Former logo used from 1971 to 2014


The Nasdaq Stock Market began trading on February 8, 1971. It was the world's first electronic
stock market.[5] At first, it was merely a “quotation system” and did not provide a way to
perform electronic trades.[6][not in citation given] The Nasdaq Stock Market helped lower the
spread (the difference between the bid price and the ask price of the stock) but was unpopular
among brokerages which made much of their money on the spread.

The NASDAQ Stock Market eventually assumed the majority of major trades that had been
executed by the over-the-counter (OTC) system of trading, but there are still many securities
traded in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as
"OTC" in media reports[7] and also in the monthly Stock Guides (stock guides and procedures)
issued by Standard & Poor's Corporation.[citation needed]

Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and
volume reporting and automated trading systems. It was also the first stock market in the
United States to trade online, highlighting Nasdaq-traded companies and closing with the
declaration that the Nasdaq Stock Market is "the stock market for the next hundred years". The
Nasdaq Stock Market attracted new growth companies, including Microsoft, Apple, Cisco,
Oracle and Dell, and it helped modernize the IPO.

Its main index is the NASDAQ Composite, which has been published since its inception.
However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, which was
introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100
companies in terms of market capitalization.

In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first
intercontinental linkage of securities markets.[8] The National Association of Securities Dealers
spun off the Nasdaq Stock Market in 2000 to form a publicly traded company.

The NASDAQ Composite index spiked in the late 1990s and then fell sharply as a result of the
dot-com bubble.
2000–present

Studio
On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3227 by April 17,[9]
and in the following 30 months fell 78% from its peak.[10]

In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed
national securities exchange.[11]

In 2007, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries,
expanded its global footprint, and changed its name to the NASDAQ OMX Group.[12]
To qualify for listing on the exchange, a company must be registered with the United States
Securities and Exchange Commission (SEC), must have at least three market makers (financial
firms that act as brokers or dealers for specific securities) and must meet minimum
requirements for assets, capital, public shares, and shareholders.

In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Börse,
speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a
counter-bid of their own for NYSE. NASDAQ OMX could be[when?] looking to acquire the
American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE
Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was
valued at $9.45 billion."[13] Late in the month, Nasdaq was reported to be considering asking
either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it
proceeded, an $11–12 billion counterbid.[14]

The European Association of Securities Dealers Automatic Quotation System (EASDAQ) was
founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in
2001 and became NASDAQ Europe. Operations were shut down, however, as a result of the
burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, and is
currently[when?] operating under Börse Berlin.[15]

On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable
Stock Exchanges initiative on the eve of the United Nations Conference on Sustainable
Development (Rio+20).[16]

In November 2016, Nasdaq Chief Operating Officer Adena Friedman was promoted to the role
of CEO, becoming the first woman to run a major exchange in the U.S.[17] In 2016, Nasdaq
earned $272 million in listings-related revenues.[18]

In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price
increases when selling market data.[19][20][21]

Quote availability
Nasdaq quotes are available at three levels:

Level 1 shows the highest bid and lowest ask—inside quote.


Level 2 shows all public quotes of market makers together with information of market dealers
wishing to buy or sell stock and recently executed orders.[22]
Level 3 is used by the market makers and allows them to enter their quotes and execute
orders.[23]
Trading schedule
The Nasdaq Stock Market sessions eastern time are:

4:00 am to 9:30 am premarket session


9:30 am to 4:00 pm normal trading session

4:00 pm to 8:00 pm postmarket session[24]

Market tiers
The Nasdaq Stock Market has three different market tiers:

Capital Market (small cap) is an equity market for companies that have relatively small levels of
market capitalization. Listing requirements for such "small cap" companies are less stringent
than for other Nasdaq markets that list larger companies with significantly higher market
capitalization.[25]
Global Market (mid cap) is made up of stocks that represent the Nasdaq Global Market. The
Global Market consists of 1,450 stocks that meet Nasdaq's strict financial and liquidity
requirements, and corporate governance standards. The Global Market is less exclusive than
the Global Select Market.[26]
Global Select Market (NASDAQ-GS large cap) is a market capitalization-weighted index made up
of US-based and international stocks that represent the Global Select Market Composite. The
Global Select Market consists of 1,200 stocks that meet Nasdaq's strict financial and liquidity
requirements and corporate governance standards. The Global Select Market is more exclusive
than the Global Market. Every October, the Nasdaq Listing Qualifications Department reviews
the Global Market Composite to determine if any of its stocks have become eligible for listing
on the Global Select Market.[27][28]
Average annualized growth rate
As of June 2015, the Nasdaq Stock Market had an average annualized growth rate of 9.24%
since its opening in February 1971. Since the end of the recession in June 2009 however, it has
increased by 18.29% per year.[29]

See also
flag New York City portal
Wikimedia Commons has media related to NASDAQ.
ACT (NASDAQ)
Advanced Computerized Execution System
Directors Desk
Economy of New York City
List of stock exchange mergers in the Americas
List of stock exchanges
List of stock exchanges in the Americas
NASDAQ futures
Nasdaq, Inc.
NASDAQ-100
NASDAQ Financial-100
United States corporate law
References
"Nasdaq Companies". Archived from the original on February 13, 2011. Retrieved June 1, 2018.
"Monthly Reports". World-Exchanges.org. World Federation of Exchanges. Archived from the
original on August 17, 2014. Retrieved June 3, 2015.
"Nasdaq – Business Solutions & Services". Business.nasdaq.com. Archived from the original on
October 20, 2016. Retrieved October 23, 2016.
Frequently Asked Questions. NASDAQ.com. NASDAQ, n.d. Web. December 23, 2001. Archived
February 13, 2011, at WebCite
Terrell, Ellen. "History of the American and Nasdaq Stock Exchanges". LOC.gov. Library of
Congress Business Reference Services. Archived from the original on April 14, 2013. Retrieved
April 27, 2013.
"Nasdaq.com Frequently Asked Questions". Nasdaq.com. Retrieved October 23, 2016.
Gilpin, Kenneth N. (July 3, 1987). "Company News: An Erratic Quarter for Stock Markets". The
New York Times. ISSN 0362-4331. Archived from the original on August 1, 2017. Retrieved
February 1, 2017.
Odekon, Mehmet (March 17, 2015). Booms and Busts: An Encyclopedia of Economic History
from the First Stock Market Crash of 1792 to the Current Global Economic Crisis: An
Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the Current
Global Economic Crisis. Routledge. ISBN 9781317475750. Archived from the original on August
3, 2017.
"NASDAQ Composite daily index". Archived from the original on November 22, 2010.
Glassman, James K. (February 11, 2015). "3 Lessons for Investors From the Tech Bubble".
Kiplinger's Personal Finance. Archived from the original on April 15, 2017.
Walsh, Michelle. "Nasdaq Stock Market Becomes A National Securities Exchange; Changes
Market Designations". Archived from the original on December 17, 2013.
Lucchetti, Aaron; MacDonald, Alistair (May 26, 2007). "Nasdaq Lands OMX for $3.7 Billion; Are
More Merger Deals on the Way?". Wall Street Journal. ISSN 0099-9660. Archived from the
original on July 31, 2017. Retrieved July 21, 2017.
De la Merced, Michael J., "Nasdaq and ICE Hold Talks Over Potential N.Y.S.E. Bid" Archived
January 20, 2012, at the Wayback Machine., The New York Times Dealbook, February 18, 2011,
12:46 pm. Retrieved February 18, 2011.
Fraser, Michelle E., "Nasdaq May Ask CME or ICE for Help in NYSE Counterbid, WSJ Says"
Archived July 29, 2014, at the Wayback Machine., Bloomberg, February 26, 2011 9:30 AM ET.
Retrieved March 1, 2011.
"Easdaq Makes A Comeback As Equiduct". Archived from the original on February 13, 2011.
"Sustainable Stock Exchanges Initiative: Exchanges listing over 4,600 companies commit to
promoting sustainability". Reuters.com. Reuters. Archived from the original on May 13, 2014.
Retrieved May 13, 2014.
"Nasdaq's New CEO Attributes Her Success to an 'Eclectic' Career Path". Fortune. November
15, 2016. Archived from the original on November 17, 2016. Retrieved November 17, 2016.
Osipovich, Alexander (October 26, 2017). "Startup Exchange Cleared to Take on NYSE, Nasdaq
for Stock Listings". Wall Street Journal. New York City, United States. Archived from the original
on October 26, 2017. Retrieved October 26, 2017.
Alexander Osipovich; Dave Michaels; Gretchen Morgenson. "SEC Ruling Takes Aim at Stock-
Exchange Profits". Wall Street Journal. Retrieved 18 October 2018.
"SEC rules NYSE and Nasdaq did not justify data fee increases". Financial Times. Retrieved 18
October 2018.
Michaels, Dave (2018-10-19). "NYSE, Nasdaq Take It on the Chin in Washington". Wall Street
Journal. ISSN 0099-9660. Retrieved 2018-10-19.
"Order Book, Level 2 Market Data, and Depth of Market". Daytrading. About.com. Archived
from the original on February 13, 2011.
"Nasdaq Level III Quote". Archived from the original on April 13, 2014.
"Nasdaq Trading Schedule". Nasdaq.com. Archived from the original on April 17, 2014.
Retrieved April 20, 2014.
"Definition of 'Nasdaq SmallCap Market', now known as Nasdaq Capital Market".
Investopedia.com. Archived from the original on August 4, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Market Composite'". Investopedia.com. Archived from the
original on September 17, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Select Market Composite'". Investopedia.com. Archived from the
original on October 4, 2013. Retrieved August 25, 2013.
Pinto, Jerald E.; Henry, Elaine; Robinson, Thomas R.; Stowe, John D. (2010). Equity Asset
Valuation. CFA Institute Investment Series. 27 (2 ed.). John Wiley & Sons. p. 6. ISBN
9780470579657. Archived from the original on May 10, 2013. Retrieved March 4, 2013. [...]
NASDAQ-GS stands for 'Nasdaq Global Select Market,' [...]
"Measuring Worth – Measures of worth, inflation rates, saving calculator, relative value, worth
of a dollar, worth of a pound, purchasing power, gold prices, GDP, history of wages, average
wage". measuringworth.com. Archived from the original on October 4, 2015. Retrieved October
2, 2015.
External links
Official Website
vte
Nasdaq, Inc.
vte
Financial markets
vte
Major United States stock market indices
Categories: Stock exchanges in the United StatesElectronic trading platformsPrivate equity
portfolio companiesAmerican companies established in 19711971 establishments in New York
(state)Companies based in New York CityEconomy of New York CityFinancial services
companies established in 1971Financial services companies based in New York City
Navigation menu
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Languages
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NASDAQ
From Wikipedia, the free encyclopedia
Jump to navigationJump to search
Nasdaq
Nasdaq logo.svg
Type Stock exchange
Location One Liberty Plaza
165 Broadway, New York City, New York, U.S.
pedia, the free encyclopedia
Jump to navigationJump to search
Nasdaq
Nasdaq logo.svg
Type Stock exchange
Location One Liberty Plaza
165 Broadway, New York City, New York, U.S.
Founded February 4, 1971; 47 years ago
Owner Nasdaq, Inc.
Currency United States Dollar
No. of listings 3,321 (June 2018)[1]
Market cap Increase $10 trillion
Website Business.Nasdaq.com
The Nasdaq Stock Market (/ˈnæzˌdæk/ (About this sound listen), also known simply as Nasdaq)
is an American stock exchange. It is the second-largest stock exchange in the world by market
capitalization, behind only the New York Stock Exchange located in the same city.[2] The
exchange platform is owned by Nasdaq, Inc.,[3] which also owns the Nasdaq Nordic (formerly
known as OMX) and Nasdaq Baltic stock market network and several U.S. stock and options
exchanges

Contents
1 History
1.1 1971–1999
1.2 2000–present
2 Quote availability
3 Trading schedule
4 Market tiers
5 Average annualized growth rate
6 See also
7 References
8 External links
History
1971–1999
"Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated
Quotations.[4] It was founded in 1971 by the National Association of Securities Dealers
(NASD),[5] which divested itself of Nasdaq in a series of sales in 2000 and 2001. The Nasdaq
Stock Market is owned and operated by Nasdaq, Inc., the stock of which was listed on its own
securities exchange on July 2, 2002, under the ticker symbol NDAQ.

Former logo used from 1971 to 2014


The Nasdaq Stock Market began trading on February 8, 1971. It was the world's first electronic
stock market.[5] At first, it was merely a “quotation system” and did not provide a way to
perform electronic trades.[6][not in citation given] The Nasdaq Stock Market helped lower the
spread (the difference between the bid price and the ask price of the stock) but was unpopular
among brokerages which made much of their money on the spread.

The NASDAQ Stock Market eventually assumed the majority of major trades that had been
executed by the over-the-counter (OTC) system of trading, but there are still many securities
traded in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as
"OTC" in media reports[7] and also in the monthly Stock Guides (stock guides and procedures)
issued by Standard & Poor's Corporation.[citation needed]

Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and
volume reporting and automated trading systems. It was also the first stock market in the
United States to trade online, highlighting Nasdaq-traded companies and closing with the
declaration that the Nasdaq Stock Market is "the stock market for the next hundred years". The
Nasdaq Stock Market attracted new growth companies, including Microsoft, Apple, Cisco,
Oracle and Dell, and it helped modernize the IPO.

Its main index is the NASDAQ Composite, which has been published since its inception.
However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, which was
introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100
companies in terms of market capitalization.

In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first
intercontinental linkage of securities markets.[8] The National Association of Securities Dealers
spun off the Nasdaq Stock Market in 2000 to form a publicly traded company.

The NASDAQ Composite index spiked in the late 1990s and then fell sharply as a result of the
dot-com bubble.
2000–present

Studio
On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3227 by April 17,[9]
and in the following 30 months fell 78% from its peak.[10]

In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed
national securities exchange.[11]

In 2007, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries,
expanded its global footprint, and changed its name to the NASDAQ OMX Group.[12]
To qualify for listing on the exchange, a company must be registered with the United States
Securities and Exchange Commission (SEC), must have at least three market makers (financial
firms that act as brokers or dealers for specific securities) and must meet minimum
requirements for assets, capital, public shares, and shareholders.

In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Börse,
speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a
counter-bid of their own for NYSE. NASDAQ OMX could be[when?] looking to acquire the
American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE
Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was
valued at $9.45 billion."[13] Late in the month, Nasdaq was reported to be considering asking
either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it
proceeded, an $11–12 billion counterbid.[14]

The European Association of Securities Dealers Automatic Quotation System (EASDAQ) was
founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in
2001 and became NASDAQ Europe. Operations were shut down, however, as a result of the
burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, and is
currently[when?] operating under Börse Berlin.[15]

On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable
Stock Exchanges initiative on the eve of the United Nations Conference on Sustainable
Development (Rio+20).[16]

In November 2016, Nasdaq Chief Operating Officer Adena Friedman was promoted to the role
of CEO, becoming the first woman to run a major exchange in the U.S.[17] In 2016, Nasdaq
earned $272 million in listings-related revenues.[18]

In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price
increases when selling market data.[19][20][21]

Quote availability
Nasdaq quotes are available at three levels:

Level 1 shows the highest bid and lowest ask—inside quote.


Level 2 shows all public quotes of market makers together with information of market dealers
wishing to buy or sell stock and recently executed orders.[22]
Level 3 is used by the market makers and allows them to enter their quotes and execute
orders.[23]
Trading schedule
The Nasdaq Stock Market sessions eastern time are:

4:00 am to 9:30 am premarket session


9:30 am to 4:00 pm normal trading session

4:00 pm to 8:00 pm postmarket session[24]

Market tiers
The Nasdaq Stock Market has three different market tiers:

Capital Market (small cap) is an equity market for companies that have relatively small levels of
market capitalization. Listing requirements for such "small cap" companies are less stringent
than for other Nasdaq markets that list larger companies with significantly higher market
capitalization.[25]
Global Market (mid cap) is made up of stocks that represent the Nasdaq Global Market. The
Global Market consists of 1,450 stocks that meet Nasdaq's strict financial and liquidity
requirements, and corporate governance standards. The Global Market is less exclusive than
the Global Select Market.[26]
Global Select Market (NASDAQ-GS large cap) is a market capitalization-weighted index made up
of US-based and international stocks that represent the Global Select Market Composite. The
Global Select Market consists of 1,200 stocks that meet Nasdaq's strict financial and liquidity
requirements and corporate governance standards. The Global Select Market is more exclusive
than the Global Market. Every October, the Nasdaq Listing Qualifications Department reviews
the Global Market Composite to determine if any of its stocks have become eligible for listing
on the Global Select Market.[27][28]
Average annualized growth rate
As of June 2015, the Nasdaq Stock Market had an average annualized growth rate of 9.24%
since its opening in February 1971. Since the end of the recession in June 2009 however, it has
increased by 18.29% per year.[29]

See also
flag New York City portal
Wikimedia Commons has media related to NASDAQ.
ACT (NASDAQ)
Advanced Computerized Execution System
Directors Desk
Economy of New York City
List of stock exchange mergers in the Americas
List of stock exchanges
List of stock exchanges in the Americas
NASDAQ futures
Nasdaq, Inc.
NASDAQ-100
NASDAQ Financial-100
United States corporate law
References
"Nasdaq Companies". Archived from the original on February 13, 2011. Retrieved June 1, 2018.
"Monthly Reports". World-Exchanges.org. World Federation of Exchanges. Archived from the
original on August 17, 2014. Retrieved June 3, 2015.
"Nasdaq – Business Solutions & Services". Business.nasdaq.com. Archived from the original on
October 20, 2016. Retrieved October 23, 2016.
Frequently Asked Questions. NASDAQ.com. NASDAQ, n.d. Web. December 23, 2001. Archived
February 13, 2011, at WebCite
Terrell, Ellen. "History of the American and Nasdaq Stock Exchanges". LOC.gov. Library of
Congress Business Reference Services. Archived from the original on April 14, 2013. Retrieved
April 27, 2013.
"Nasdaq.com Frequently Asked Questions". Nasdaq.com. Retrieved October 23, 2016.
Gilpin, Kenneth N. (July 3, 1987). "Company News: An Erratic Quarter for Stock Markets". The
New York Times. ISSN 0362-4331. Archived from the original on August 1, 2017. Retrieved
February 1, 2017.
Odekon, Mehmet (March 17, 2015). Booms and Busts: An Encyclopedia of Economic History
from the First Stock Market Crash of 1792 to the Current Global Economic Crisis: An
Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the Current
Global Economic Crisis. Routledge. ISBN 9781317475750. Archived from the original on August
3, 2017.
"NASDAQ Composite daily index". Archived from the original on November 22, 2010.
Glassman, James K. (February 11, 2015). "3 Lessons for Investors From the Tech Bubble".
Kiplinger's Personal Finance. Archived from the original on April 15, 2017.
Walsh, Michelle. "Nasdaq Stock Market Becomes A National Securities Exchange; Changes
Market Designations". Archived from the original on December 17, 2013.
Lucchetti, Aaron; MacDonald, Alistair (May 26, 2007). "Nasdaq Lands OMX for $3.7 Billion; Are
More Merger Deals on the Way?". Wall Street Journal. ISSN 0099-9660. Archived from the
original on July 31, 2017. Retrieved July 21, 2017.
De la Merced, Michael J., "Nasdaq and ICE Hold Talks Over Potential N.Y.S.E. Bid" Archived
January 20, 2012, at the Wayback Machine., The New York Times Dealbook, February 18, 2011,
12:46 pm. Retrieved February 18, 2011.
Fraser, Michelle E., "Nasdaq May Ask CME or ICE for Help in NYSE Counterbid, WSJ Says"
Archived July 29, 2014, at the Wayback Machine., Bloomberg, February 26, 2011 9:30 AM ET.
Retrieved March 1, 2011.
"Easdaq Makes A Comeback As Equiduct". Archived from the original on February 13, 2011.
"Sustainable Stock Exchanges Initiative: Exchanges listing over 4,600 companies commit to
promoting sustainability". Reuters.com. Reuters. Archived from the original on May 13, 2014.
Retrieved May 13, 2014.
"Nasdaq's New CEO Attributes Her Success to an 'Eclectic' Career Path". Fortune. November
15, 2016. Archived from the original on November 17, 2016. Retrieved November 17, 2016.
Osipovich, Alexander (October 26, 2017). "Startup Exchange Cleared to Take on NYSE, Nasdaq
for Stock Listings". Wall Street Journal. New York City, United States. Archived from the original
on October 26, 2017. Retrieved October 26, 2017.
Alexander Osipovich; Dave Michaels; Gretchen Morgenson. "SEC Ruling Takes Aim at Stock-
Exchange Profits". Wall Street Journal. Retrieved 18 October 2018.
"SEC rules NYSE and Nasdaq did not justify data fee increases". Financial Times. Retrieved 18
October 2018.
Michaels, Dave (2018-10-19). "NYSE, Nasdaq Take It on the Chin in Washington". Wall Street
Journal. ISSN 0099-9660. Retrieved 2018-10-19.
"Order Book, Level 2 Market Data, and Depth of Market". Daytrading. About.com. Archived
from the original on February 13, 2011.
"Nasdaq Level III Quote". Archived from the original on April 13, 2014.
"Nasdaq Trading Schedule". Nasdaq.com. Archived from the original on April 17, 2014.
Retrieved April 20, 2014.
"Definition of 'Nasdaq SmallCap Market', now known as Nasdaq Capital Market".
Investopedia.com. Archived from the original on August 4, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Market Composite'". Investopedia.com. Archived from the
original on September 17, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Select Market Composite'". Investopedia.com. Archived from the
original on October 4, 2013. Retrieved August 25, 2013.
Pinto, Jerald E.; Henry, Elaine; Robinson, Thomas R.; Stowe, John D. (2010). Equity Asset
Valuation. CFA Institute Investment Series. 27 (2 ed.). John Wiley & Sons. p. 6. ISBN
9780470579657. Archived from the original on May 10, 2013. Retrieved March 4, 2013. [...]
NASDAQ-GS stands for 'Nasdaq Global Select Market,' [...]
"Measuring Worth – Measures of worth, inflation rates, saving calculator, relative value, worth
of a dollar, worth of a pound, purchasing power, gold prices, GDP, history of wages, average
wage". measuringworth.com. Archived from the original on October 4, 2015. Retrieved October
2, 2015.
External links
Official Website
vte
Nasdaq, Inc.
vte
Financial markets
vte
Major United States stock market indices
Categories: Stock exchanges in the United StatesElectronic trading platformsPrivate equity
portfolio companiesAmerican companies established in 19711971 establishments in New York
(state)Companies based in New York CityEconomy of New York CityFinancial services
companies established in 1971Financial services companies based in New York City
Navigation menu
Not logged inTalkContributionsCreate accountLog inArticleTalkReadEditView historySearch

Search Wikipedia
Main page
Contents
Featured content
Current events
Random article
Donate to Wikipedia
Wikipedia store
Interaction
Help
About Wikipedia
Community portal
Recent changes
Contact page
Tools
What links here
Related changes
Upload file
Special pages
Permanent link
Page information
Wikidata item
Cite this page
Print/export
Create a book
Download as PDF
Printable version
In other projects
Wikimedia Commons

Languages
Deutsch
Español
Français
한국어
Italiano
Русский
Tagalog
Tiếng Việt
中文

NASDAQ
From Wikipedia, the free encyclopedia
Jump to navigationJump to search
Nasdaq
Nasdaq logo.svg
Type Stock exchange
Location One Liberty Plaza
165 Broadway, New York City, New York, U.S.
Founded February 4, 1971; 47 years ago
Owner Nasdaq, Inc.
Currency United States Dollar
No. of listings 3,321 (June 2018)[1]
Market cap Increase $10 trillion
Website Business.Nasdaq.com
The Nasdaq Stock Market (/ˈnæzˌdæk/ (About this sound listen), also known simply as Nasdaq)
is an American stock exchange. It is the second-largest stock exchange in the world by market
capitalization, behind only the New York Stock Exchange located in the same city.[2] The
exchange platform is owned by Nasdaq, Inc.,[3] which also owns the Nasdaq Nordic (formerly
known as OMX) and Nasdaq Baltic stock market network and several U.S. stock and options
exchanges

Contents
1 History
1.1 1971–1999
1.2 2000–present
2 Quote availability
3 Trading schedule
4 Market tiers
5 Average annualized growth rate
6 See also
7 References
8 External links
History
1971–1999
"Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated
Quotations.[4] It was founded in 1971 by the National Association of Securities Dealers
(NASD),[5] which divested itself of Nasdaq in a series of sales in 2000 and 2001. The Nasdaq
Stock Market is owned and operated by Nasdaq, Inc., the stock of which was listed on its own
securities exchange on July 2, 2002, under the ticker symbol NDAQ.

Former logo used from 1971 to 2014


The Nasdaq Stock Market began trading on February 8, 1971. It was the world's first electronic
stock market.[5] At first, it was merely a “quotation system” and did not provide a way to
perform electronic trades.[6][not in citation given] The Nasdaq Stock Market helped lower the
spread (the difference between the bid price and the ask price of the stock) but was unpopular
among brokerages which made much of their money on the spread.

The NASDAQ Stock Market eventually assumed the majority of major trades that had been
executed by the over-the-counter (OTC) system of trading, but there are still many securities
traded in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as
"OTC" in media reports[7] and also in the monthly Stock Guides (stock guides and procedures)
issued by Standard & Poor's Corporation.[citation needed]

Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and
volume reporting and automated trading systems. It was also the first stock market in the United
States to trade online, highlighting Nasdaq-traded companies and closing with the declaration
that the Nasdaq Stock Market is "the stock market for the next hundred years". The Nasdaq
Stock Market attracted new growth companies, including Microsoft, Apple, Cisco, Oracle and
Dell, and it helped modernize the IPO.

Its main index is the NASDAQ Composite, which has been published since its inception.
However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, which was
introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100
companies in terms of market capitalization.

In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first
intercontinental linkage of securities markets.[8] The National Association of Securities Dealers
spun off the Nasdaq Stock Market in 2000 to form a publicly traded company.

The NASDAQ Composite index spiked in the late 1990s and then fell sharply as a result of the
dot-com bubble.
2000–present

Studio
On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3227 by April
17,[9] and in the following 30 months fell 78% from its peak.[10]

In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed
national securities exchange.[11]

In 2007, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries,
expanded its global footprint, and changed its name to the NASDAQ OMX Group.[12]

To qualify for listing on the exchange, a company must be registered with the United States
Securities and Exchange Commission (SEC), must have at least three market makers (financial
firms that act as brokers or dealers for specific securities) and must meet minimum requirements
for assets, capital, public shares, and shareholders.

In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Börse,
speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a
counter-bid of their own for NYSE. NASDAQ OMX could be[when?] looking to acquire the
American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE
Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was
valued at $9.45 billion."[13] Late in the month, Nasdaq was reported to be considering asking
either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it
proceeded, an $11–12 billion counterbid.[14]

The European Association of Securities Dealers Automatic Quotation System (EASDAQ) was
founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in
2001 and became NASDAQ Europe. Operations were shut down, however, as a result of the
burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, and is
currently[when?] operating under Börse Berlin.[15]

On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable
Stock Exchanges initiative on the eve of the United Nations Conference on Sustainable
Development (Rio+20).[16]

In November 2016, Nasdaq Chief Operating Officer Adena Friedman was promoted to the role
of CEO, becoming the first woman to run a major exchange in the U.S.[17] In 2016, Nasdaq
earned $272 million in listings-related revenues.[18]

In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price
increases when selling market data.[19][20][21]

Quote availability
Nasdaq quotes are available at three levels:

Level 1 shows the highest bid and lowest ask—inside quote.


Level 2 shows all public quotes of market makers together with information of market dealers
wishing to buy or sell stock and recently executed orders.[22]
Level 3 is used by the market makers and allows them to enter their quotes and execute
orders.[23]
Trading schedule
The Nasdaq Stock Market sessions eastern time are:

4:00 am to 9:30 am premarket session

9:30 am to 4:00 pm normal trading session

4:00 pm to 8:00 pm postmarket session[24]

Market tiers
The Nasdaq Stock Market has three different market tiers:

Capital Market (small cap) is an equity market for companies that have relatively small levels of
market capitalization. Listing requirements for such "small cap" companies are less stringent
than for other Nasdaq markets that list larger companies with significantly higher market
capitalization.[25]
Global Market (mid cap) is made up of stocks that represent the Nasdaq Global Market. The
Global Market consists of 1,450 stocks that meet Nasdaq's strict financial and liquidity
requirements, and corporate governance standards. The Global Market is less exclusive than the
Global Select Market.[26]
Global Select Market (NASDAQ-GS large cap) is a market capitalization-weighted index made
up of US-based and international stocks that represent the Global Select Market Composite. The
Global Select Market consists of 1,200 stocks that meet Nasdaq's strict financial and liquidity
requirements and corporate governance standards. The Global Select Market is more exclusive
than the Global Market. Every October, the Nasdaq Listing Qualifications Department reviews
the Global Market Composite to determine if any of its stocks have become eligible for listing on
the Global Select Market.[27][28]
Average annualized growth rate
As of June 2015, the Nasdaq Stock Market had an average annualized growth rate of 9.24%
since its opening in February 1971. Since the end of the recession in June 2009 however, it has
increased by 18.29% per year.[29]

See also
flag New York City portal
Wikimedia Commons has media related to NASDAQ.
ACT (NASDAQ)
Advanced Computerized Execution System
Directors Desk
Economy of New York City
List of stock exchange mergers in the Americas
List of stock exchanges
List of stock exchanges in the Americas
NASDAQ futures
Nasdaq, Inc.
NASDAQ-100
NASDAQ Financial-100
United States corporate law
References
"Nasdaq Companies". Archived from the original on February 13, 2011. Retrieved June 1, 2018.
"Monthly Reports". World-Exchanges.org. World Federation of Exchanges. Archived from the
original on August 17, 2014. Retrieved June 3, 2015.
"Nasdaq – Business Solutions & Services". Business.nasdaq.com. Archived from the original on
October 20, 2016. Retrieved October 23, 2016.
Frequently Asked Questions. NASDAQ.com. NASDAQ, n.d. Web. December 23, 2001.
Archived February 13, 2011, at WebCite
Terrell, Ellen. "History of the American and Nasdaq Stock Exchanges". LOC.gov. Library of
Congress Business Reference Services. Archived from the original on April 14, 2013. Retrieved
April 27, 2013.
"Nasdaq.com Frequently Asked Questions". Nasdaq.com. Retrieved October 23, 2016.
Gilpin, Kenneth N. (July 3, 1987). "Company News: An Erratic Quarter for Stock Markets".
The New York Times. ISSN 0362-4331. Archived from the original on August 1, 2017.
Retrieved February 1, 2017.
Odekon, Mehmet (March 17, 2015). Booms and Busts: An Encyclopedia of Economic History
from the First Stock Market Crash of 1792 to the Current Global Economic Crisis: An
Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the Current
Global Economic Crisis. Routledge. ISBN 9781317475750. Archived from the original on
August 3, 2017.
"NASDAQ Composite daily index". Archived from the original on November 22, 2010.
Glassman, James K. (February 11, 2015). "3 Lessons for Investors From the Tech Bubble".
Kiplinger's Personal Finance. Archived from the original on April 15, 2017.
Walsh, Michelle. "Nasdaq Stock Market Becomes A National Securities Exchange; Changes
Market Designations". Archived from the original on December 17, 2013.
Lucchetti, Aaron; MacDonald, Alistair (May 26, 2007). "Nasdaq Lands OMX for $3.7 Billion;
Are More Merger Deals on the Way?". Wall Street Journal. ISSN 0099-9660. Archived from the
original on July 31, 2017. Retrieved July 21, 2017.
De la Merced, Michael J., "Nasdaq and ICE Hold Talks Over Potential N.Y.S.E. Bid" Archived
January 20, 2012, at the Wayback Machine., The New York Times Dealbook, February 18,
2011, 12:46 pm. Retrieved February 18, 2011.
Fraser, Michelle E., "Nasdaq May Ask CME or ICE for Help in NYSE Counterbid, WSJ Says"
Archived July 29, 2014, at the Wayback Machine., Bloomberg, February 26, 2011 9:30 AM ET.
Retrieved March 1, 2011.
"Easdaq Makes A Comeback As Equiduct". Archived from the original on February 13, 2011.
"Sustainable Stock Exchanges Initiative: Exchanges listing over 4,600 companies commit to
promoting sustainability". Reuters.com. Reuters. Archived from the original on May 13, 2014.
Retrieved May 13, 2014.
"Nasdaq's New CEO Attributes Her Success to an 'Eclectic' Career Path". Fortune. November
15, 2016. Archived from the original on November 17, 2016. Retrieved November 17, 2016.
Osipovich, Alexander (October 26, 2017). "Startup Exchange Cleared to Take on NYSE,
Nasdaq for Stock Listings". Wall Street Journal. New York City, United States. Archived from
the original on October 26, 2017. Retrieved October 26, 2017.
Alexander Osipovich; Dave Michaels; Gretchen Morgenson. "SEC Ruling Takes Aim at Stock-
Exchange Profits". Wall Street Journal. Retrieved 18 October 2018.
"SEC rules NYSE and Nasdaq did not justify data fee increases". Financial Times. Retrieved 18
October 2018.
Michaels, Dave (2018-10-19). "NYSE, Nasdaq Take It on the Chin in Washington". Wall Street
Journal. ISSN 0099-9660. Retrieved 2018-10-19.
"Order Book, Level 2 Market Data, and Depth of Market". Daytrading. About.com. Archived
from the original on February 13, 2011.
"Nasdaq Level III Quote". Archived from the original on April 13, 2014.
"Nasdaq Trading Schedule". Nasdaq.com. Archived from the original on April 17, 2014.
Retrieved April 20, 2014.
"Definition of 'Nasdaq SmallCap Market', now known as Nasdaq Capital Market".
Investopedia.com. Archived from the original on August 4, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Market Composite'". Investopedia.com. Archived from the
original on September 17, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Select Market Composite'". Investopedia.com. Archived from the
original on October 4, 2013. Retrieved August 25, 2013.
Pinto, Jerald E.; Henry, Elaine; Robinson, Thomas R.; Stowe, John D. (2010). Equity Asset
Valuation. CFA Institute Investment Series. 27 (2 ed.). John Wiley & Sons. p. 6. ISBN
9780470579657. Archived from the original on May 10, 2013. Retrieved March 4, 2013. [...]
NASDAQ-GS stands for 'Nasdaq Global Select Market,' [...]
"Measuring Worth – Measures of worth, inflation rates, saving calculator, relative value, worth
of a dollar, worth of a pound, purchasing power, gold prices, GDP, history of wages, average
wage". measuringworth.com. Archived from the original on October 4, 2015. Retrieved October
2, 2015.
External links
Official Website
vte
Nasdaq, Inc.
vte
Financial markets
vte
Major United States stock market indices
Categories: Stock exchanges in the United StatesElectronic trading platformsPrivate equity
portfolio companiesAmerican companies established in 19711971 establishments in New York
(state)Companies based in New York CityEconomy of New York CityFinancial services
companies established in 1971Financial services companies based in New York City
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NASDAQ
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Nasdaq

Type Stock exchange

Location One Liberty Plaza


165 Broadway, New York City, New York, U.S.

Founded February 4, 1971; 47 years ago


Owner Nasdaq, Inc.

Currency United States Dollar

No. of listings 3,321 (June 2018)[1]

Market cap
$10 trillion

Website Business.Nasdaq.com

The Nasdaq Stock Market (/ˈnæzˌdæk/ ( listen), also known simply as Nasdaq) is an American
stock exchange. It is the second-largest stock exchange in the world by market capitalization,
behind only the New York Stock Exchange located in the same city.[2] The exchange platform is
owned by Nasdaq, Inc.,[3] which also owns the Nasdaq Nordic (formerly known as OMX) and
Nasdaq Baltic stock market network and several U.S. stock and options exchanges
Contents
• 1History
o 1.11971–1999
o 1.22000–present
• 2Quote availability
• 3Trading schedule
• 4Market tiers
• 5Average annualized growth rate
• 6See also
• 7References
• 8External links
History[edit]
1971–1999[edit]
"Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated
Quotations.[4] It was founded in 1971 by the National Association of Securities Dealers
(NASD),[5] which divested itself of Nasdaq in a series of sales in 2000 and 2001. The Nasdaq
Stock Market is owned and operated by Nasdaq, Inc., the stock of which was listed on its own
securities exchange on July 2, 2002, under the ticker symbol NDAQ.

Former logo used from 1971 to 2014


The Nasdaq Stock Market began trading on February 8, 1971. It was the world's first electronic
stock market.[5] At first, it was merely a “quotation system” and did not provide a way to
perform electronic trades.[6][not in citation given]The Nasdaq Stock Market helped lower the
spread (the difference between the bid price and the ask price of the stock) but was unpopular
among brokerages which made much of their money on the spread.
The NASDAQ Stock Market eventually assumed the majority of major trades that had been
executed by the over-the-counter (OTC) system of trading, but there are still many securities
traded in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as
"OTC" in media reports[7] and also in the monthly Stock Guides (stock guides and procedures)
issued by Standard & Poor's Corporation.[citation needed]
Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and
volume reporting and automated trading systems. It was also the first stock market in the United
States to trade online, highlighting Nasdaq-traded companies and closing with the declaration
that the Nasdaq Stock Market is "the stock market for the next hundred years". The Nasdaq
Stock Market attracted new growth companies, including Microsoft, Apple, Cisco, Oracle and
Dell, and it helped modernize the IPO.
Its main index is the NASDAQ Composite, which has been published since its inception.
However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, which was
introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100
companies in terms of market capitalization.
In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first
intercontinental linkage of securities markets.[8] The National Association of Securities Dealers
spun off the Nasdaq Stock Market in 2000 to form a publicly traded company.

The NASDAQ Composite index spiked in the late 1990s and then fell sharply as a result of the
dot-com bubble.
2000–present[edit]
Studio
On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3227 by April
17,[9] and in the following 30 months fell 78% from its peak.[10]
In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed
national securities exchange.[11]
In 2007, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries,
expanded its global footprint, and changed its name to the NASDAQ OMX Group.[12]
To qualify for listing on the exchange, a company must be registered with the United States
Securities and Exchange Commission (SEC), must have at least three market makers (financial
firms that act as brokers or dealers for specific securities) and must meet minimum requirements
for assets, capital, public shares, and shareholders.
In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Börse,
speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a
counter-bid of their own for NYSE. NASDAQ OMX could be[when?] looking to acquire the
American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE
Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was
valued at $9.45 billion."[13] Late in the month, Nasdaq was reported to be considering asking
either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it
proceeded, an $11–12 billion counterbid.[14]
The European Association of Securities Dealers Automatic Quotation System (EASDAQ) was
founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in
2001 and became NASDAQ Europe. Operations were shut down, however, as a result of the
burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, and is
currently[when?] operating under Börse Berlin.[15]
On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable
Stock Exchanges initiative on the eve of the United Nations Conference on Sustainable
Development (Rio+20).[16]
In November 2016, Nasdaq Chief Operating Officer Adena Friedman was promoted to the role
of CEO, becoming the first woman to run a major exchange in the U.S.[17] In 2016, Nasdaq
earned $272 million in listings-related revenues.[18]
In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price
increases when selling market data.[19][20][21]
Quote availability[edit]
Nasdaq quotes are available at three levels:
• Level 1 shows the highest bid and lowest ask—inside quote.
• Level 2 shows all public quotes of market makers together with information of market
dealers wishing to buy or sell stock and recently executed orders.[22]
• Level 3 is used by the market makers and allows them to enter their quotes and execute
orders.[23]
Trading schedule[edit]
The Nasdaq Stock Market sessions eastern time are:
4:00 am to 9:30 am premarket session
9:30 am to 4:00 pm normal trading session
4:00 pm to 8:00 pm postmarket session[24]
Market tiers[edit]
The Nasdaq Stock Market has three different market tiers:
• Capital Market (small cap) is an equity market for companies that have relatively small
levels of market capitalization. Listing requirements for such "small cap" companies are less
stringent than for other Nasdaq markets that list larger companies with significantly higher
market capitalization.[25]
• Global Market (mid cap) is made up of stocks that represent the Nasdaq Global Market.
The Global Market consists of 1,450 stocks that meet Nasdaq's strict financial and liquidity
requirements, and corporate governance standards. The Global Market is less exclusive than the
Global Select Market.[26]
• Global Select Market (NASDAQ-GS large cap) is a market capitalization-weighted index
made up of US-based and international stocks that represent the Global Select Market
Composite. The Global Select Market consists of 1,200 stocks that meet Nasdaq's strict financial
and liquidity requirements and corporate governance standards. The Global Select Market is
more exclusive than the Global Market. Every October, the Nasdaq Listing Qualifications
Department reviews the Global Market Composite to determine if any of its stocks have become
eligible for listing on the Global Select Market.[27][28]
Average annualized growth rate[edit]
As of June 2015, the Nasdaq Stock Market had an average annualized growth rate of 9.24%
since its opening in February 1971. Since the end of the recession in June 2009 however, it has
increased by 18.29% per year.[29]
See also[edit]
• New York City portal
Wikimedia Commons has media related to NASDAQ.

• ACT (NASDAQ)
• Advanced Computerized Execution System
• Directors Desk
• Economy of New York City
• List of stock exchange mergers in the Americas
• List of stock exchanges
• List of stock exchanges in the Americas
• NASDAQ futures
• Nasdaq, Inc.
• NASDAQ-100
• NASDAQ Financial-100
• United States corporate law
References[edit]
1. Jump up^ "Nasdaq Companies". Archived from the original on February 13, 2011.
Retrieved June 1, 2018.
2. Jump up^ "Monthly Reports". World-Exchanges.org. World Federation of Exchanges.
Archived from the original on August 17, 2014. Retrieved June 3, 2015.
3. Jump up^ "Nasdaq – Business Solutions & Services". Business.nasdaq.com. Archived
from the original on October 20, 2016. Retrieved October 23,2016.
4. Jump up^ Frequently Asked Questions. NASDAQ.com. NASDAQ, n.d. Web. December
23, 2001. Archived February 13, 2011, at WebCite
5. ^ Jump up to:a b Terrell, Ellen. "History of the American and Nasdaq Stock Exchanges".
LOC.gov. Library of Congress Business Reference Services. Archived from the original on April
14, 2013. Retrieved April 27, 2013.
6. Jump up^ "Nasdaq.com Frequently Asked Questions". Nasdaq.com. Retrieved October
23, 2016.
7. Jump up^ Gilpin, Kenneth N. (July 3, 1987). "Company News: An Erratic Quarter for
Stock Markets". The New York Times. ISSN 0362-4331. Archived from the original on August
1, 2017. Retrieved February 1, 2017.
8. Jump up^ Odekon, Mehmet (March 17, 2015). Booms and Busts: An Encyclopedia of
Economic History from the First Stock Market Crash of 1792 to the Current Global Economic
Crisis: An Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the
Current Global Economic Crisis. Routledge. ISBN 9781317475750. Archived from the original
on August 3, 2017.
9. Jump up^ "NASDAQ Composite daily index". Archived from the original on November
22, 2010.
10. Jump up^ Glassman, James K. (February 11, 2015). "3 Lessons for Investors From the
Tech Bubble". Kiplinger's Personal Finance. Archived from the original on April 15, 2017.
11. Jump up^ Walsh, Michelle. "Nasdaq Stock Market Becomes A National Securities
Exchange; Changes Market Designations". Archived from the original on December 17, 2013.
12. Jump up^ Lucchetti, Aaron; MacDonald, Alistair (May 26, 2007). "Nasdaq Lands OMX
for $3.7 Billion; Are More Merger Deals on the Way?". Wall Street Journal. ISSN 0099-9660.
Archived from the original on July 31, 2017. Retrieved July 21, 2017.
13. Jump up^ De la Merced, Michael J., "Nasdaq and ICE Hold Talks Over Potential
N.Y.S.E. Bid" Archived January 20, 2012, at the Wayback Machine., The New York Times
Dealbook, February 18, 2011, 12:46 pm. Retrieved February 18, 2011.
14. Jump up^ Fraser, Michelle E., "Nasdaq May Ask CME or ICE for Help in NYSE
Counterbid, WSJ Says" Archived July 29, 2014, at the Wayback Machine., Bloomberg, February
26, 2011 9:30 AM ET. Retrieved March 1, 2011.
15. Jump up^ "Easdaq Makes A Comeback As Equiduct". Archived from the original on
February 13, 2011.
16. Jump up^ "Sustainable Stock Exchanges Initiative: Exchanges listing over 4,600
companies commit to promoting sustainability". Reuters.com. Reuters. Archived from the
original on May 13, 2014. Retrieved May 13, 2014.
17. Jump up^ "Nasdaq's New CEO Attributes Her Success to an 'Eclectic' Career Path".
Fortune. November 15, 2016. Archived from the original on November 17, 2016. Retrieved
November 17, 2016.
18. Jump up^ Osipovich, Alexander (October 26, 2017). "Startup Exchange Cleared to Take
on NYSE, Nasdaq for Stock Listings". Wall Street Journal. New York City, United States.
Archived from the original on October 26, 2017. Retrieved October 26, 2017.
19. Jump up^ Alexander Osipovich; Dave Michaels; Gretchen Morgenson. "SEC Ruling
Takes Aim at Stock-Exchange Profits". Wall Street Journal. Retrieved 18 October 2018.
20. Jump up^ "SEC rules NYSE and Nasdaq did not justify data fee increases". Financial
Times. Retrieved 18 October 2018.
21. Jump up^ Michaels, Dave (2018-10-19). "NYSE, Nasdaq Take It on the Chin in
Washington". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-10-19.
22. Jump up^ "Order Book, Level 2 Market Data, and Depth of Market". Daytrading.
About.com. Archived from the original on February 13, 2011.
23. Jump up^ "Nasdaq Level III Quote". Archived from the original on April 13, 2014.
24. Jump up^ "Nasdaq Trading Schedule". Nasdaq.com. Archived from the original on April
17, 2014. Retrieved April 20, 2014.
25. Jump up^ "Definition of 'Nasdaq SmallCap Market', now known as Nasdaq Capital
Market". Investopedia.com. Archived from the original on August 4, 2013. Retrieved August 25,
2013.
26. Jump up^ "Definition of 'Nasdaq Global Market Composite'". Investopedia.com.
Archived from the original on September 17, 2013. Retrieved August 25,2013.
27. Jump up^ "Definition of 'Nasdaq Global Select Market Composite'". Investopedia.com.
Archived from the original on October 4, 2013. Retrieved August 25, 2013.
28. Jump up^ Pinto, Jerald E.; Henry, Elaine; Robinson, Thomas R.; Stowe, John D. (2010).
Equity Asset Valuation. CFA Institute Investment Series. 27 (2 ed.). John Wiley & Sons. p. 6.
ISBN 9780470579657. Archived from the original on May 10, 2013. Retrieved March 4, 2013.
[...] NASDAQ-GS stands for 'Nasdaq Global Select Market,' [...]
29. Jump up^ "Measuring Worth – Measures of worth, inflation rates, saving calculator,
relative value, worth of a dollar, worth of a pound, purchasing power, gold prices, GDP, history
of wages, average wage". measuringworth.com. Archived from the original on October 4, 2015.
Retrieved October 2, 2015.
External links[edit]
• Official Website
show
• v
• t
• e
Nasdaq, Inc.

show
• v
• t
• e
Financial markets

show
• v
• t
• e
Major United States stock market indices

Categories:
• Stock exchanges in the United States
• Electronic trading platforms
• Private equity portfolio companies
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• 1971 establishments in New York (state)
• Companies based in New York City
• Economy of New York City
• Financial services companies established in 1971
• Financial services companies based in New York City
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NASDAQ
From Wikipedia, the free encyclopedia
Jump to navigationJump to search
Nasdaq
Nasdaq logo.svg
Type Stock exchange
Location One Liberty Plaza
165 Broadway, New York City, New York, U.S.
Founded February 4, 1971; 47 years ago
Owner Nasdaq, Inc.
Currency United States Dollar
No. of listings 3,321 (June 2018)[1]
Market cap Increase $10 trillion
Website Business.Nasdaq.com
The Nasdaq Stock Market (/ˈnæzˌdæk/ (About this sound listen), also known simply as Nasdaq)
is an American stock exchange. It is the second-largest stock exchange in the world by market
capitalization, behind only the New York Stock Exchange located in the same city.[2] The
exchange platform is owned by Nasdaq, Inc.,[3] which also owns the Nasdaq Nordic (formerly
known as OMX) and Nasdaq Baltic stock market network and several U.S. stock and options
exchanges

Contents
1 History
1.1 1971–1999
1.2 2000–present
2 Quote availability
3 Trading schedule
4 Market tiers
5 Average annualized growth rate
6 See also
7 References
8 External links
History
1971–1999
"Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated
Quotations.[4] It was founded in 1971 by the National Association of Securities Dealers
(NASD),[5] which divested itself of Nasdaq in a series of sales in 2000 and 2001. The Nasdaq
Stock Market is owned and operated by Nasdaq, Inc., the stock of which was listed on its own
securities exchange on July 2, 2002, under the ticker symbol NDAQ.

Former logo used from 1971 to 2014


The Nasdaq Stock Market began trading on February 8, 1971. It was the world's first electronic
stock market.[5] At first, it was merely a “quotation system” and did not provide a way to
perform electronic trades.[6][not in citation given] The Nasdaq Stock Market helped lower the
spread (the difference between the bid price and the ask price of the stock) but was unpopular
among brokerages which made much of their money on the spread.

The NASDAQ Stock Market eventually assumed the majority of major trades that had been
executed by the over-the-counter (OTC) system of trading, but there are still many securities
traded in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as
"OTC" in media reports[7] and also in the monthly Stock Guides (stock guides and procedures)
issued by Standard & Poor's Corporation.[citation needed]

Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and
volume reporting and automated trading systems. It was also the first stock market in the United
States to trade online, highlighting Nasdaq-traded companies and closing with the declaration
that the Nasdaq Stock Market is "the stock market for the next hundred years". The Nasdaq
Stock Market attracted new growth companies, including Microsoft, Apple, Cisco, Oracle and
Dell, and it helped modernize the IPO.

Its main index is the NASDAQ Composite, which has been published since its inception.
However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, which was
introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100
companies in terms of market capitalization.

In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first
intercontinental linkage of securities markets.[8] The National Association of Securities Dealers
spun off the Nasdaq Stock Market in 2000 to form a publicly traded company.

The NASDAQ Composite index spiked in the late 1990s and then fell sharply as a result of the
dot-com bubble.
2000–present

Studio
On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3227 by April
17,[9] and in the following 30 months fell 78% from its peak.[10]

In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed
national securities exchange.[11]

In 2007, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries,
expanded its global footprint, and changed its name to the NASDAQ OMX Group.[12]

To qualify for listing on the exchange, a company must be registered with the United States
Securities and Exchange Commission (SEC), must have at least three market makers (financial
firms that act as brokers or dealers for specific securities) and must meet minimum requirements
for assets, capital, public shares, and shareholders.

In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Börse,
speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a
counter-bid of their own for NYSE. NASDAQ OMX could be[when?] looking to acquire the
American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE
Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was
valued at $9.45 billion."[13] Late in the month, Nasdaq was reported to be considering asking
either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it
proceeded, an $11–12 billion counterbid.[14]

The European Association of Securities Dealers Automatic Quotation System (EASDAQ) was
founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in
2001 and became NASDAQ Europe. Operations were shut down, however, as a result of the
burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, and is
currently[when?] operating under Börse Berlin.[15]

On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable
Stock Exchanges initiative on the eve of the United Nations Conference on Sustainable
Development (Rio+20).[16]

In November 2016, Nasdaq Chief Operating Officer Adena Friedman was promoted to the role
of CEO, becoming the first woman to run a major exchange in the U.S.[17] In 2016, Nasdaq
earned $272 million in listings-related revenues.[18]

In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price
increases when selling market data.[19][20][21]

Quote availability
Nasdaq quotes are available at three levels:

Level 1 shows the highest bid and lowest ask—inside quote.


Level 2 shows all public quotes of market makers together with information of market dealers
wishing to buy or sell stock and recently executed orders.[22]
Level 3 is used by the market makers and allows them to enter their quotes and execute
orders.[23]
Trading schedule
The Nasdaq Stock Market sessions eastern time are:

4:00 am to 9:30 am premarket session

9:30 am to 4:00 pm normal trading session

4:00 pm to 8:00 pm postmarket session[24]

Market tiers
The Nasdaq Stock Market has three different market tiers:

Capital Market (small cap) is an equity market for companies that have relatively small levels of
market capitalization. Listing requirements for such "small cap" companies are less stringent
than for other Nasdaq markets that list larger companies with significantly higher market
capitalization.[25]
Global Market (mid cap) is made up of stocks that represent the Nasdaq Global Market. The
Global Market consists of 1,450 stocks that meet Nasdaq's strict financial and liquidity
requirements, and corporate governance standards. The Global Market is less exclusive than the
Global Select Market.[26]
Global Select Market (NASDAQ-GS large cap) is a market capitalization-weighted index made
up of US-based and international stocks that represent the Global Select Market Composite. The
Global Select Market consists of 1,200 stocks that meet Nasdaq's strict financial and liquidity
requirements and corporate governance standards. The Global Select Market is more exclusive
than the Global Market. Every October, the Nasdaq Listing Qualifications Department reviews
the Global Market Composite to determine if any of its stocks have become eligible for listing on
the Global Select Market.[27][28]
Average annualized growth rate
As of June 2015, the Nasdaq Stock Market had an average annualized growth rate of 9.24%
since its opening in February 1971. Since the end of the recession in June 2009 however, it has
increased by 18.29% per year.[29]

See also
flag New York City portal
Wikimedia Commons has media related to NASDAQ.
ACT (NASDAQ)
Advanced Computerized Execution System
Directors Desk
Economy of New York City
List of stock exchange mergers in the Americas
List of stock exchanges
List of stock exchanges in the Americas
NASDAQ futures
Nasdaq, Inc.
NASDAQ-100
NASDAQ Financial-100
United States corporate law
References
"Nasdaq Companies". Archived from the original on February 13, 2011. Retrieved June 1, 2018.
"Monthly Reports". World-Exchanges.org. World Federation of Exchanges. Archived from the
original on August 17, 2014. Retrieved June 3, 2015.
"Nasdaq – Business Solutions & Services". Business.nasdaq.com. Archived from the original on
October 20, 2016. Retrieved October 23, 2016.
Frequently Asked Questions. NASDAQ.com. NASDAQ, n.d. Web. December 23, 2001.
Archived February 13, 2011, at WebCite
Terrell, Ellen. "History of the American and Nasdaq Stock Exchanges". LOC.gov. Library of
Congress Business Reference Services. Archived from the original on April 14, 2013. Retrieved
April 27, 2013.
"Nasdaq.com Frequently Asked Questions". Nasdaq.com. Retrieved October 23, 2016.
Gilpin, Kenneth N. (July 3, 1987). "Company News: An Erratic Quarter for Stock Markets".
The New York Times. ISSN 0362-4331. Archived from the original on August 1, 2017.
Retrieved February 1, 2017.
Odekon, Mehmet (March 17, 2015). Booms and Busts: An Encyclopedia of Economic History
from the First Stock Market Crash of 1792 to the Current Global Economic Crisis: An
Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the Current
Global Economic Crisis. Routledge. ISBN 9781317475750. Archived from the original on
August 3, 2017.
"NASDAQ Composite daily index". Archived from the original on November 22, 2010.
Glassman, James K. (February 11, 2015). "3 Lessons for Investors From the Tech Bubble".
Kiplinger's Personal Finance. Archived from the original on April 15, 2017.
Walsh, Michelle. "Nasdaq Stock Market Becomes A National Securities Exchange; Changes
Market Designations". Archived from the original on December 17, 2013.
Lucchetti, Aaron; MacDonald, Alistair (May 26, 2007). "Nasdaq Lands OMX for $3.7 Billion;
Are More Merger Deals on the Way?". Wall Street Journal. ISSN 0099-9660. Archived from the
original on July 31, 2017. Retrieved July 21, 2017.
De la Merced, Michael J., "Nasdaq and ICE Hold Talks Over Potential N.Y.S.E. Bid" Archived
January 20, 2012, at the Wayback Machine., The New York Times Dealbook, February 18,
2011, 12:46 pm. Retrieved February 18, 2011.
Fraser, Michelle E., "Nasdaq May Ask CME or ICE for Help in NYSE Counterbid, WSJ Says"
Archived July 29, 2014, at the Wayback Machine., Bloomberg, February 26, 2011 9:30 AM ET.
Retrieved March 1, 2011.
"Easdaq Makes A Comeback As Equiduct". Archived from the original on February 13, 2011.
"Sustainable Stock Exchanges Initiative: Exchanges listing over 4,600 companies commit to
promoting sustainability". Reuters.com. Reuters. Archived from the original on May 13, 2014.
Retrieved May 13, 2014.
"Nasdaq's New CEO Attributes Her Success to an 'Eclectic' Career Path". Fortune. November
15, 2016. Archived from the original on November 17, 2016. Retrieved November 17, 2016.
Osipovich, Alexander (October 26, 2017). "Startup Exchange Cleared to Take on NYSE,
Nasdaq for Stock Listings". Wall Street Journal. New York City, United States. Archived from
the original on October 26, 2017. Retrieved October 26, 2017.
Alexander Osipovich; Dave Michaels; Gretchen Morgenson. "SEC Ruling Takes Aim at Stock-
Exchange Profits". Wall Street Journal. Retrieved 18 October 2018.
"SEC rules NYSE and Nasdaq did not justify data fee increases". Financial Times. Retrieved 18
October 2018.
Michaels, Dave (2018-10-19). "NYSE, Nasdaq Take It on the Chin in Washington". Wall Street
Journal. ISSN 0099-9660. Retrieved 2018-10-19.
"Order Book, Level 2 Market Data, and Depth of Market". Daytrading. About.com. Archived
from the original on February 13, 2011.
"Nasdaq Level III Quote". Archived from the original on April 13, 2014.
"Nasdaq Trading Schedule". Nasdaq.com. Archived from the original on April 17, 2014.
Retrieved April 20, 2014.
"Definition of 'Nasdaq SmallCap Market', now known as Nasdaq Capital Market".
Investopedia.com. Archived from the original on August 4, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Market Composite'". Investopedia.com. Archived from the
original on September 17, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Select Market Composite'". Investopedia.com. Archived from the
original on October 4, 2013. Retrieved August 25, 2013.
Pinto, Jerald E.; Henry, Elaine; Robinson, Thomas R.; Stowe, John D. (2010). Equity Asset
Valuation. CFA Institute Investment Series. 27 (2 ed.). John Wiley & Sons. p. 6. ISBN
9780470579657. Archived from the original on May 10, 2013. Retrieved March 4, 2013. [...]
NASDAQ-GS stands for 'Nasdaq Global Select Market,' [...]
"Measuring Worth – Measures of worth, inflation rates, saving calculator, relative value, worth
of a dollar, worth of a pound, purchasing power, gold prices, GDP, history of wages, average
wage". measuringworth.com. Archived from the original on October 4, 2015. Retrieved October
2, 2015.
External links
Official Website
vte
Nasdaq, Inc.
vte
Financial markets
vte
Major United States stock market indices
Categories: Stock exchanges in the United StatesElectronic trading platformsPrivate equity
portfolio companiesAmerican companies established in 19711971 establishments in New York
(state)Companies based in New York CityEconomy of New York CityFinancial services
companies established in 1971Financial services companies based in New York City
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NASDAQ
From Wikipedia, the free encyclopedia
Jump to navigationJump to search
Nasdaq

Type Stock exchange

Location One Liberty Plaza


165 Broadway, New York City, New York, U.S.

Founded February 4, 1971; 47 years ago


Owner Nasdaq, Inc.

Currency United States Dollar

No. of listings 3,321 (June 2018)[1]

Market cap
$10 trillion

Website Business.Nasdaq.com

The Nasdaq Stock Market (/ˈnæzˌdæk/ ( listen), also known simply as Nasdaq) is an American
stock exchange. It is the second-largest stock exchange in the world by market capitalization,
behind only the New York Stock Exchange located in the same city.[2] The exchange platform is
owned by Nasdaq, Inc.,[3] which also owns the Nasdaq Nordic (formerly known as OMX) and
Nasdaq Baltic stock market network and several U.S. stock and options exchanges
Contents
• 1History
o 1.11971–1999
o 1.22000–present
• 2Quote availability
• 3Trading schedule
• 4Market tiers
• 5Average annualized growth rate
• 6See also
• 7References
• 8External links
History[edit]
1971–1999[edit]
"Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated
Quotations.[4] It was founded in 1971 by the National Association of Securities Dealers
(NASD),[5] which divested itself of Nasdaq in a series of sales in 2000 and 2001. The Nasdaq
Stock Market is owned and operated by Nasdaq, Inc., the stock of which was listed on its own
securities exchange on July 2, 2002, under the ticker symbol NDAQ.

Former logo used from 1971 to 2014


The Nasdaq Stock Market began trading on February 8, 1971. It was the world's first electronic
stock market.[5] At first, it was merely a “quotation system” and did not provide a way to
perform electronic trades.[6][not in citation given]The Nasdaq Stock Market helped lower the
spread (the difference between the bid price and the ask price of the stock) but was unpopular
among brokerages which made much of their money on the spread.
The NASDAQ Stock Market eventually assumed the majority of major trades that had been
executed by the over-the-counter (OTC) system of trading, but there are still many securities
traded in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as
"OTC" in media reports[7] and also in the monthly Stock Guides (stock guides and procedures)
issued by Standard & Poor's Corporation.[citation needed]
Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and
volume reporting and automated trading systems. It was also the first stock market in the United
States to trade online, highlighting Nasdaq-traded companies and closing with the declaration
that the Nasdaq Stock Market is "the stock market for the next hundred years". The Nasdaq
Stock Market attracted new growth companies, including Microsoft, Apple, Cisco, Oracle and
Dell, and it helped modernize the IPO.
Its main index is the NASDAQ Composite, which has been published since its inception.
However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, which was
introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100
companies in terms of market capitalization.
In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first
intercontinental linkage of securities markets.[8] The National Association of Securities Dealers
spun off the Nasdaq Stock Market in 2000 to form a publicly traded company.

The NASDAQ Composite index spiked in the late 1990s and then fell sharply as a result of the
dot-com bubble.
2000–present[edit]

Studio
On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3227 by April
17,[9] and in the following 30 months fell 78% from its peak.[10]
In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed
national securities exchange.[11]
In 2007, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries,
expanded its global footprint, and changed its name to the NASDAQ OMX Group.[12]
To qualify for listing on the exchange, a company must be registered with the United States
Securities and Exchange Commission (SEC), must have at least three market makers (financial
firms that act as brokers or dealers for specific securities) and must meet minimum requirements
for assets, capital, public shares, and shareholders.
In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Börse,
speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a
counter-bid of their own for NYSE. NASDAQ OMX could be[when?] looking to acquire the
American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE
Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was
valued at $9.45 billion."[13] Late in the month, Nasdaq was reported to be considering asking
either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it
proceeded, an $11–12 billion counterbid.[14]
The European Association of Securities Dealers Automatic Quotation System (EASDAQ) was
founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in
2001 and became NASDAQ Europe. Operations were shut down, however, as a result of the
burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, and is
currently[when?] operating under Börse Berlin.[15]
On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable
Stock Exchanges initiative on the eve of the United Nations Conference on Sustainable
Development (Rio+20).[16]
In November 2016, Nasdaq Chief Operating Officer Adena Friedman was promoted to the role
of CEO, becoming the first woman to run a major exchange in the U.S.[17] In 2016, Nasdaq
earned $272 million in listings-related revenues.[18]
In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price
increases when selling market data.[19][20][21]
Quote availability[edit]
Nasdaq quotes are available at three levels:
• Level 1 shows the highest bid and lowest ask—inside quote.
• Level 2 shows all public quotes of market makers together with information of market
dealers wishing to buy or sell stock and recently executed orders.[22]
• Level 3 is used by the market makers and allows them to enter their quotes and execute
orders.[23]
Trading schedule[edit]
The Nasdaq Stock Market sessions eastern time are:
4:00 am to 9:30 am premarket session
9:30 am to 4:00 pm normal trading session
4:00 pm to 8:00 pm postmarket session[24]
Market tiers[edit]
The Nasdaq Stock Market has three different market tiers:
• Capital Market (small cap) is an equity market for companies that have relatively small
levels of market capitalization. Listing requirements for such "small cap" companies are less
stringent than for other Nasdaq markets that list larger companies with significantly higher
market capitalization.[25]
• Global Market (mid cap) is made up of stocks that represent the Nasdaq Global Market.
The Global Market consists of 1,450 stocks that meet Nasdaq's strict financial and liquidity
requirements, and corporate governance standards. The Global Market is less exclusive than the
Global Select Market.[26]
• Global Select Market (NASDAQ-GS large cap) is a market capitalization-weighted index
made up of US-based and international stocks that represent the Global Select Market
Composite. The Global Select Market consists of 1,200 stocks that meet Nasdaq's strict financial
and liquidity requirements and corporate governance standards. The Global Select Market is
more exclusive than the Global Market. Every October, the Nasdaq Listing Qualifications
Department reviews the Global Market Composite to determine if any of its stocks have become
eligible for listing on the Global Select Market.[27][28]
Average annualized growth rate[edit]
As of June 2015, the Nasdaq Stock Market had an average annualized growth rate of 9.24%
since its opening in February 1971. Since the end of the recession in June 2009 however, it has
increased by 18.29% per year.[29]
See also[edit]
• New York City portal
Wikimedia Commons has media related to NASDAQ.

• ACT (NASDAQ)
• Advanced Computerized Execution System
• Directors Desk
• Economy of New York City
• List of stock exchange mergers in the Americas
• List of stock exchanges
• List of stock exchanges in the Americas
• NASDAQ futures
• Nasdaq, Inc.
• NASDAQ-100
• NASDAQ Financial-100
• United States corporate law
References[edit]
1. Jump up^ "Nasdaq Companies". Archived from the original on February 13, 2011.
Retrieved June 1, 2018.
2. Jump up^ "Monthly Reports". World-Exchanges.org. World Federation of Exchanges.
Archived from the original on August 17, 2014. Retrieved June 3, 2015.
3. Jump up^ "Nasdaq – Business Solutions & Services". Business.nasdaq.com. Archived
from the original on October 20, 2016. Retrieved October 23,2016.
4. Jump up^ Frequently Asked Questions. NASDAQ.com. NASDAQ, n.d. Web. December
23, 2001. Archived February 13, 2011, at WebCite
5. ^ Jump up to:a b Terrell, Ellen. "History of the American and Nasdaq Stock Exchanges".
LOC.gov. Library of Congress Business Reference Services. Archived from the original on April
14, 2013. Retrieved April 27, 2013.
6. Jump up^ "Nasdaq.com Frequently Asked Questions". Nasdaq.com. Retrieved October
23, 2016.
7. Jump up^ Gilpin, Kenneth N. (July 3, 1987). "Company News: An Erratic Quarter for
Stock Markets". The New York Times. ISSN 0362-4331. Archived from the original on August
1, 2017. Retrieved February 1, 2017.
8. Jump up^ Odekon, Mehmet (March 17, 2015). Booms and Busts: An Encyclopedia of
Economic History from the First Stock Market Crash of 1792 to the Current Global Economic
Crisis: An Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the
Current Global Economic Crisis. Routledge. ISBN 9781317475750. Archived from the original
on August 3, 2017.
9. Jump up^ "NASDAQ Composite daily index". Archived from the original on November
22, 2010.
10. Jump up^ Glassman, James K. (February 11, 2015). "3 Lessons for Investors From the
Tech Bubble". Kiplinger's Personal Finance. Archived from the original on April 15, 2017.
11. Jump up^ Walsh, Michelle. "Nasdaq Stock Market Becomes A National Securities
Exchange; Changes Market Designations". Archived from the original on December 17, 2013.
12. Jump up^ Lucchetti, Aaron; MacDonald, Alistair (May 26, 2007). "Nasdaq Lands OMX
for $3.7 Billion; Are More Merger Deals on the Way?". Wall Street Journal. ISSN 0099-9660.
Archived from the original on July 31, 2017. Retrieved July 21, 2017.
13. Jump up^ De la Merced, Michael J., "Nasdaq and ICE Hold Talks Over Potential
N.Y.S.E. Bid" Archived January 20, 2012, at the Wayback Machine., The New York Times
Dealbook, February 18, 2011, 12:46 pm. Retrieved February 18, 2011.
14. Jump up^ Fraser, Michelle E., "Nasdaq May Ask CME or ICE for Help in NYSE
Counterbid, WSJ Says" Archived July 29, 2014, at the Wayback Machine., Bloomberg, February
26, 2011 9:30 AM ET. Retrieved March 1, 2011.
15. Jump up^ "Easdaq Makes A Comeback As Equiduct". Archived from the original on
February 13, 2011.
16. Jump up^ "Sustainable Stock Exchanges Initiative: Exchanges listing over 4,600
companies commit to promoting sustainability". Reuters.com. Reuters. Archived from the
original on May 13, 2014. Retrieved May 13, 2014.
17. Jump up^ "Nasdaq's New CEO Attributes Her Success to an 'Eclectic' Career Path".
Fortune. November 15, 2016. Archived from the original on November 17, 2016. Retrieved
November 17, 2016.
18. Jump up^ Osipovich, Alexander (October 26, 2017). "Startup Exchange Cleared to Take
on NYSE, Nasdaq for Stock Listings". Wall Street Journal. New York City, United States.
Archived from the original on October 26, 2017. Retrieved October 26, 2017.
19. Jump up^ Alexander Osipovich; Dave Michaels; Gretchen Morgenson. "SEC Ruling
Takes Aim at Stock-Exchange Profits". Wall Street Journal. Retrieved 18 October 2018.
20. Jump up^ "SEC rules NYSE and Nasdaq did not justify data fee increases". Financial
Times. Retrieved 18 October 2018.
21. Jump up^ Michaels, Dave (2018-10-19). "NYSE, Nasdaq Take It on the Chin in
Washington". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-10-19.
22. Jump up^ "Order Book, Level 2 Market Data, and Depth of Market". Daytrading.
About.com. Archived from the original on February 13, 2011.
23. Jump up^ "Nasdaq Level III Quote". Archived from the original on April 13, 2014.
24. Jump up^ "Nasdaq Trading Schedule". Nasdaq.com. Archived from the original on April
17, 2014. Retrieved April 20, 2014.
25. Jump up^ "Definition of 'Nasdaq SmallCap Market', now known as Nasdaq Capital
Market". Investopedia.com. Archived from the original on August 4, 2013. Retrieved August 25,
2013.
26. Jump up^ "Definition of 'Nasdaq Global Market Composite'". Investopedia.com.
Archived from the original on September 17, 2013. Retrieved August 25,2013.
27. Jump up^ "Definition of 'Nasdaq Global Select Market Composite'". Investopedia.com.
Archived from the original on October 4, 2013. Retrieved August 25, 2013.
28. Jump up^ Pinto, Jerald E.; Henry, Elaine; Robinson, Thomas R.; Stowe, John D. (2010).
Equity Asset Valuation. CFA Institute Investment Series. 27 (2 ed.). John Wiley & Sons. p. 6.
ISBN 9780470579657. Archived from the original on May 10, 2013. Retrieved March 4, 2013.
[...] NASDAQ-GS stands for 'Nasdaq Global Select Market,' [...]
29. Jump up^ "Measuring Worth – Measures of worth, inflation rates, saving calculator,
relative value, worth of a dollar, worth of a pound, purchasing power, gold prices, GDP, history
of wages, average wage". measuringworth.com. Archived from the original on October 4, 2015.
Retrieved October 2, 2015.
External links[edit]
• Official Website
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Nasdaq
Nasdaq logo.svg
Type Stock exchange
Location One Liberty Plaza
165 Broadway, New York City, New York, U.S.
Founded February 4, 1971; 47 years ago
Owner Nasdaq, Inc.
Currency United States Dollar
No. of listings 3,321 (June 2018)[1]
Market cap Increase $10 trillion
Website Business.Nasdaq.com
The Nasdaq Stock Market (/ˈnæzˌdæk/ (About this sound listen), also known simply as Nasdaq)
is an American stock exchange. It is the second-largest stock exchange in the world by market
capitalization, behind only the New York Stock Exchange located in the same city.[2] The
exchange platform is owned by Nasdaq, Inc.,[3] which also owns the Nasdaq Nordic (formerly
known as OMX) and Nasdaq Baltic stock market network and several U.S. stock and options
exchanges

Contents
1 History
1.1 1971–1999
1.2 2000–present
2 Quote availability
3 Trading schedule
4 Market tiers
5 Average annualized growth rate
6 See also
7 References
8 External links
History
1971–1999
"Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated
Quotations.[4] It was founded in 1971 by the National Association of Securities Dealers
(NASD),[5] which divested itself of Nasdaq in a series of sales in 2000 and 2001. The Nasdaq
Stock Market is owned and operated by Nasdaq, Inc., the stock of which was listed on its own
securities exchange on July 2, 2002, under the ticker symbol NDAQ.

Former logo used from 1971 to 2014


The Nasdaq Stock Market began trading on February 8, 1971. It was the world's first electronic
stock market.[5] At first, it was merely a “quotation system” and did not provide a way to
perform electronic trades.[6][not in citation given] The Nasdaq Stock Market helped lower the
spread (the difference between the bid price and the ask price of the stock) but was unpopular
among brokerages which made much of their money on the spread.

The NASDAQ Stock Market eventually assumed the majority of major trades that had been
executed by the over-the-counter (OTC) system of trading, but there are still many securities
traded in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as
"OTC" in media reports[7] and also in the monthly Stock Guides (stock guides and procedures)
issued by Standard & Poor's Corporation.[citation needed]

Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and
volume reporting and automated trading systems. It was also the first stock market in the
United States to trade online, highlighting Nasdaq-traded companies and closing with the
declaration that the Nasdaq Stock Market is "the stock market for the next hundred years". The
Nasdaq Stock Market attracted new growth companies, including Microsoft, Apple, Cisco,
Oracle and Dell, and it helped modernize the IPO.

Its main index is the NASDAQ Composite, which has been published since its inception.
However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, which was
introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100
companies in terms of market capitalization.

In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first
intercontinental linkage of securities markets.[8] The National Association of Securities Dealers
spun off the Nasdaq Stock Market in 2000 to form a publicly traded company.

The NASDAQ Composite index spiked in the late 1990s and then fell sharply as a result of the
dot-com bubble.
2000–present
Studio
On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3227 by April 17,[9]
and in the following 30 months fell 78% from its peak.[10]

In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed
national securities exchange.[11]

In 2007, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries,
expanded its global footprint, and changed its name to the NASDAQ OMX Group.[12]

To qualify for listing on the exchange, a company must be registered with the United States
Securities and Exchange Commission (SEC), must have at least three market makers (financial
firms that act as brokers or dealers for specific securities) and must meet minimum
requirements for assets, capital, public shares, and shareholders.

In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Börse,
speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a
counter-bid of their own for NYSE. NASDAQ OMX could be[when?] looking to acquire the
American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE
Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was
valued at $9.45 billion."[13] Late in the month, Nasdaq was reported to be considering asking
either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it
proceeded, an $11–12 billion counterbid.[14]

The European Association of Securities Dealers Automatic Quotation System (EASDAQ) was
founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in
2001 and became NASDAQ Europe. Operations were shut down, however, as a result of the
burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, and is
currently[when?] operating under Börse Berlin.[15]

On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable
Stock Exchanges initiative on the eve of the United Nations Conference on Sustainable
Development (Rio+20).[16]

In November 2016, Nasdaq Chief Operating Officer Adena Friedman was promoted to the role
of CEO, becoming the first woman to run a major exchange in the U.S.[17] In 2016, Nasdaq
earned $272 million in listings-related revenues.[18]

In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price
increases when selling market data.[19][20][21]

Quote availability
Nasdaq quotes are available at three levels:
Level 1 shows the highest bid and lowest ask—inside quote.
Level 2 shows all public quotes of market makers together with information of market dealers
wishing to buy or sell stock and recently executed orders.[22]
Level 3 is used by the market makers and allows them to enter their quotes and execute
orders.[23]
Trading schedule
The Nasdaq Stock Market sessions eastern time are:

4:00 am to 9:30 am premarket session

9:30 am to 4:00 pm normal trading session

4:00 pm to 8:00 pm postmarket session[24]

Market tiers
The Nasdaq Stock Market has three different market tiers:

Capital Market (small cap) is an equity market for companies that have relatively small levels of
market capitalization. Listing requirements for such "small cap" companies are less stringent
than for other Nasdaq markets that list larger companies with significantly higher market
capitalization.[25]
Global Market (mid cap) is made up of stocks that represent the Nasdaq Global Market. The
Global Market consists of 1,450 stocks that meet Nasdaq's strict financial and liquidity
requirements, and corporate governance standards. The Global Market is less exclusive than
the Global Select Market.[26]
Global Select Market (NASDAQ-GS large cap) is a market capitalization-weighted index made up
of US-based and international stocks that represent the Global Select Market Composite. The
Global Select Market consists of 1,200 stocks that meet Nasdaq's strict financial and liquidity
requirements and corporate governance standards. The Global Select Market is more exclusive
than the Global Market. Every October, the Nasdaq Listing Qualifications Department reviews
the Global Market Composite to determine if any of its stocks have become eligible for listing
on the Global Select Market.[27][28]
Average annualized growth rate
As of June 2015, the Nasdaq Stock Market had an average annualized growth rate of 9.24%
since its opening in February 1971. Since the end of the recession in June 2009 however, it has
increased by 18.29% per year.[29]

See also
flag New York City portal
Wikimedia Commons has media related to NASDAQ.
ACT (NASDAQ)
Advanced Computerized Execution System
Directors Desk
Economy of New York City
List of stock exchange mergers in the Americas
List of stock exchanges
List of stock exchanges in the Americas
NASDAQ futures
Nasdaq, Inc.
NASDAQ-100
NASDAQ Financial-100
United States corporate law
References
"Nasdaq Companies". Archived from the original on February 13, 2011. Retrieved June 1, 2018.
"Monthly Reports". World-Exchanges.org. World Federation of Exchanges. Archived from the
original on August 17, 2014. Retrieved June 3, 2015.
"Nasdaq – Business Solutions & Services". Business.nasdaq.com. Archived from the original on
October 20, 2016. Retrieved October 23, 2016.
Frequently Asked Questions. NASDAQ.com. NASDAQ, n.d. Web. December 23, 2001. Archived
February 13, 2011, at WebCite
Terrell, Ellen. "History of the American and Nasdaq Stock Exchanges". LOC.gov. Library of
Congress Business Reference Services. Archived from the original on April 14, 2013. Retrieved
April 27, 2013.
"Nasdaq.com Frequently Asked Questions". Nasdaq.com. Retrieved October 23, 2016.
Gilpin, Kenneth N. (July 3, 1987). "Company News: An Erratic Quarter for Stock Markets". The
New York Times. ISSN 0362-4331. Archived from the original on August 1, 2017. Retrieved
February 1, 2017.
Odekon, Mehmet (March 17, 2015). Booms and Busts: An Encyclopedia of Economic History
from the First Stock Market Crash of 1792 to the Current Global Economic Crisis: An
Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the Current
Global Economic Crisis. Routledge. ISBN 9781317475750. Archived from the original on August
3, 2017.
"NASDAQ Composite daily index". Archived from the original on November 22, 2010.
Glassman, James K. (February 11, 2015). "3 Lessons for Investors From the Tech Bubble".
Kiplinger's Personal Finance. Archived from the original on April 15, 2017.
Walsh, Michelle. "Nasdaq Stock Market Becomes A National Securities Exchange; Changes
Market Designations". Archived from the original on December 17, 2013.
Lucchetti, Aaron; MacDonald, Alistair (May 26, 2007). "Nasdaq Lands OMX for $3.7 Billion; Are
More Merger Deals on the Way?". Wall Street Journal. ISSN 0099-9660. Archived from the
original on July 31, 2017. Retrieved July 21, 2017.
De la Merced, Michael J., "Nasdaq and ICE Hold Talks Over Potential N.Y.S.E. Bid" Archived
January 20, 2012, at the Wayback Machine., The New York Times Dealbook, February 18, 2011,
12:46 pm. Retrieved February 18, 2011.
Fraser, Michelle E., "Nasdaq May Ask CME or ICE for Help in NYSE Counterbid, WSJ Says"
Archived July 29, 2014, at the Wayback Machine., Bloomberg, February 26, 2011 9:30 AM ET.
Retrieved March 1, 2011.
"Easdaq Makes A Comeback As Equiduct". Archived from the original on February 13, 2011.
"Sustainable Stock Exchanges Initiative: Exchanges listing over 4,600 companies commit to
promoting sustainability". Reuters.com. Reuters. Archived from the original on May 13, 2014.
Retrieved May 13, 2014.
"Nasdaq's New CEO Attributes Her Success to an 'Eclectic' Career Path". Fortune. November
15, 2016. Archived from the original on November 17, 2016. Retrieved November 17, 2016.
Osipovich, Alexander (October 26, 2017). "Startup Exchange Cleared to Take on NYSE, Nasdaq
for Stock Listings". Wall Street Journal. New York City, United States. Archived from the original
on October 26, 2017. Retrieved October 26, 2017.
Alexander Osipovich; Dave Michaels; Gretchen Morgenson. "SEC Ruling Takes Aim at Stock-
Exchange Profits". Wall Street Journal. Retrieved 18 October 2018.
"SEC rules NYSE and Nasdaq did not justify data fee increases". Financial Times. Retrieved 18
October 2018.
Michaels, Dave (2018-10-19). "NYSE, Nasdaq Take It on the Chin in Washington". Wall Street
Journal. ISSN 0099-9660. Retrieved 2018-10-19.
"Order Book, Level 2 Market Data, and Depth of Market". Daytrading. About.com. Archived
from the original on February 13, 2011.
"Nasdaq Level III Quote". Archived from the original on April 13, 2014.
"Nasdaq Trading Schedule". Nasdaq.com. Archived from the original on April 17, 2014.
Retrieved April 20, 2014.
"Definition of 'Nasdaq SmallCap Market', now known as Nasdaq Capital Market".
Investopedia.com. Archived from the original on August 4, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Market Composite'". Investopedia.com. Archived from the
original on September 17, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Select Market Composite'". Investopedia.com. Archived from the
original on October 4, 2013. Retrieved August 25, 2013.
Pinto, Jerald E.; Henry, Elaine; Robinson, Thomas R.; Stowe, John D. (2010). Equity Asset
Valuation. CFA Institute Investment Series. 27 (2 ed.). John Wiley & Sons. p. 6. ISBN
9780470579657. Archived from the original on May 10, 2013. Retrieved March 4, 2013. [...]
NASDAQ-GS stands for 'Nasdaq Global Select Market,' [...]
"Measuring Worth – Measures of worth, inflation rates, saving calculator, relative value, worth
of a dollar, worth of a pound, purchasing power, gold prices, GDP, history of wages, average
wage". measuringworth.com. Archived from the original on October 4, 2015. Retrieved October
2, 2015.
External links
Official Website
vte
Nasdaq, Inc.
vte
Financial markets
vte
Major United States stock market indices
Categories: Stock exchanges in the United StatesElectronic trading platformsPrivate equity
portfolio companiesAmerican companies established in 19711971 establishments in New York
(state)Companies based in New York CityEconomy of New York CityFinancial services
companies established in 1971Financial services companies based in New York City
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NASDAQ
From Wikipedia, the free encyclopedia
Jump to navigationJump to search
Nasdaq
Nasdaq logo.svg
Type Stock exchange
Location One Liberty Plaza
165 Broadway, New York City, New York, U.S.
Founded February 4, 1971; 47 years ago
Owner Nasdaq, Inc.
Currency United States Dollar
No. of listings 3,321 (June 2018)[1]
Market cap Increase $10 trillion
Website Business.Nasdaq.com
The Nasdaq Stock Market (/ˈnæzˌdæk/ (About this sound listen), also known simply as Nasdaq)
is an American stock exchange. It is the second-largest stock exchange in the world by market
capitalization, behind only the New York Stock Exchange located in the same city.[2] The
exchange platform is owned by Nasdaq, Inc.,[3] which also owns the Nasdaq Nordic (formerly
known as OMX) and Nasdaq Baltic stock market network and several U.S. stock and options
exchanges

Contents
1 History
1.1 1971–1999
1.2 2000–present
2 Quote availability
3 Trading schedule
4 Market tiers
5 Average annualized growth rate
6 See also
7 References
8 External links
History
1971–1999
"Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated
Quotations.[4] It was founded in 1971 by the National Association of Securities Dealers
(NASD),[5] which divested itself of Nasdaq in a series of sales in 2000 and 2001. The Nasdaq
Stock Market is owned and operated by Nasdaq, Inc., the stock of which was listed on its own
securities exchange on July 2, 2002, under the ticker symbol NDAQ.
Former logo used from 1971 to 2014
The Nasdaq Stock Market began trading on February 8, 1971. It was the world's first electronic
stock market.[5] At first, it was merely a “quotation system” and did not provide a way to
perform electronic trades.[6][not in citation given] The Nasdaq Stock Market helped lower the
spread (the difference between the bid price and the ask price of the stock) but was unpopular
among brokerages which made much of their money on the spread.

The NASDAQ Stock Market eventually assumed the majority of major trades that had been
executed by the over-the-counter (OTC) system of trading, but there are still many securities
traded in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as
"OTC" in media reports[7] and also in the monthly Stock Guides (stock guides and procedures)
issued by Standard & Poor's Corporation.[citation needed]

Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and
volume reporting and automated trading systems. It was also the first stock market in the United
States to trade online, highlighting Nasdaq-traded companies and closing with the declaration
that the Nasdaq Stock Market is "the stock market for the next hundred years". The Nasdaq
Stock Market attracted new growth companies, including Microsoft, Apple, Cisco, Oracle and
Dell, and it helped modernize the IPO.

Its main index is the NASDAQ Composite, which has been published since its inception.
However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, which was
introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100
companies in terms of market capitalization.

In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first
intercontinental linkage of securities markets.[8] The National Association of Securities Dealers
spun off the Nasdaq Stock Market in 2000 to form a publicly traded company.

The NASDAQ Composite index spiked in the late 1990s and then fell sharply as a result of the
dot-com bubble.
2000–present

Studio
On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3227 by April
17,[9] and in the following 30 months fell 78% from its peak.[10]

In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed
national securities exchange.[11]

In 2007, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries,
expanded its global footprint, and changed its name to the NASDAQ OMX Group.[12]

To qualify for listing on the exchange, a company must be registered with the United States
Securities and Exchange Commission (SEC), must have at least three market makers (financial
firms that act as brokers or dealers for specific securities) and must meet minimum requirements
for assets, capital, public shares, and shareholders.

In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Börse,
speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a
counter-bid of their own for NYSE. NASDAQ OMX could be[when?] looking to acquire the
American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE
Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was
valued at $9.45 billion."[13] Late in the month, Nasdaq was reported to be considering asking
either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it
proceeded, an $11–12 billion counterbid.[14]

The European Association of Securities Dealers Automatic Quotation System (EASDAQ) was
founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in
2001 and became NASDAQ Europe. Operations were shut down, however, as a result of the
burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, and is
currently[when?] operating under Börse Berlin.[15]

On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable
Stock Exchanges initiative on the eve of the United Nations Conference on Sustainable
Development (Rio+20).[16]

In November 2016, Nasdaq Chief Operating Officer Adena Friedman was promoted to the role
of CEO, becoming the first woman to run a major exchange in the U.S.[17] In 2016, Nasdaq
earned $272 million in listings-related revenues.[18]

In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price
increases when selling market data.[19][20][21]

Quote availability
Nasdaq quotes are available at three levels:

Level 1 shows the highest bid and lowest ask—inside quote.


Level 2 shows all public quotes of market makers together with information of market dealers
wishing to buy or sell stock and recently executed orders.[22]
Level 3 is used by the market makers and allows them to enter their quotes and execute
orders.[23]
Trading schedule
The Nasdaq Stock Market sessions eastern time are:

4:00 am to 9:30 am premarket session

9:30 am to 4:00 pm normal trading session

4:00 pm to 8:00 pm postmarket session[24]


Market tiers
The Nasdaq Stock Market has three different market tiers:

Capital Market (small cap) is an equity market for companies that have relatively small levels of
market capitalization. Listing requirements for such "small cap" companies are less stringent
than for other Nasdaq markets that list larger companies with significantly higher market
capitalization.[25]
Global Market (mid cap) is made up of stocks that represent the Nasdaq Global Market. The
Global Market consists of 1,450 stocks that meet Nasdaq's strict financial and liquidity
requirements, and corporate governance standards. The Global Market is less exclusive than the
Global Select Market.[26]
Global Select Market (NASDAQ-GS large cap) is a market capitalization-weighted index made
up of US-based and international stocks that represent the Global Select Market Composite. The
Global Select Market consists of 1,200 stocks that meet Nasdaq's strict financial and liquidity
requirements and corporate governance standards. The Global Select Market is more exclusive
than the Global Market. Every October, the Nasdaq Listing Qualifications Department reviews
the Global Market Composite to determine if any of its stocks have become eligible for listing on
the Global Select Market.[27][28]
Average annualized growth rate
As of June 2015, the Nasdaq Stock Market had an average annualized growth rate of 9.24%
since its opening in February 1971. Since the end of the recession in June 2009 however, it has
increased by 18.29% per year.[29]

See also
flag New York City portal
Wikimedia Commons has media related to NASDAQ.
ACT (NASDAQ)
Advanced Computerized Execution System
Directors Desk
Economy of New York City
List of stock exchange mergers in the Americas
List of stock exchanges
List of stock exchanges in the Americas
NASDAQ futures
Nasdaq, Inc.
NASDAQ-100
NASDAQ Financial-100
United States corporate law
References
"Nasdaq Companies". Archived from the original on February 13, 2011. Retrieved June 1, 2018.
"Monthly Reports". World-Exchanges.org. World Federation of Exchanges. Archived from the
original on August 17, 2014. Retrieved June 3, 2015.
"Nasdaq – Business Solutions & Services". Business.nasdaq.com. Archived from the original on
October 20, 2016. Retrieved October 23, 2016.
Frequently Asked Questions. NASDAQ.com. NASDAQ, n.d. Web. December 23, 2001.
Archived February 13, 2011, at WebCite
Terrell, Ellen. "History of the American and Nasdaq Stock Exchanges". LOC.gov. Library of
Congress Business Reference Services. Archived from the original on April 14, 2013. Retrieved
April 27, 2013.
"Nasdaq.com Frequently Asked Questions". Nasdaq.com. Retrieved October 23, 2016.
Gilpin, Kenneth N. (July 3, 1987). "Company News: An Erratic Quarter for Stock Markets".
The New York Times. ISSN 0362-4331. Archived from the original on August 1, 2017.
Retrieved February 1, 2017.
Odekon, Mehmet (March 17, 2015). Booms and Busts: An Encyclopedia of Economic History
from the First Stock Market Crash of 1792 to the Current Global Economic Crisis: An
Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the Current
Global Economic Crisis. Routledge. ISBN 9781317475750. Archived from the original on
August 3, 2017.
"NASDAQ Composite daily index". Archived from the original on November 22, 2010.
Glassman, James K. (February 11, 2015). "3 Lessons for Investors From the Tech Bubble".
Kiplinger's Personal Finance. Archived from the original on April 15, 2017.
Walsh, Michelle. "Nasdaq Stock Market Becomes A National Securities Exchange; Changes
Market Designations". Archived from the original on December 17, 2013.
Lucchetti, Aaron; MacDonald, Alistair (May 26, 2007). "Nasdaq Lands OMX for $3.7 Billion;
Are More Merger Deals on the Way?". Wall Street Journal. ISSN 0099-9660. Archived from the
original on July 31, 2017. Retrieved July 21, 2017.
De la Merced, Michael J., "Nasdaq and ICE Hold Talks Over Potential N.Y.S.E. Bid" Archived
January 20, 2012, at the Wayback Machine., The New York Times Dealbook, February 18,
2011, 12:46 pm. Retrieved February 18, 2011.
Fraser, Michelle E., "Nasdaq May Ask CME or ICE for Help in NYSE Counterbid, WSJ Says"
Archived July 29, 2014, at the Wayback Machine., Bloomberg, February 26, 2011 9:30 AM ET.
Retrieved March 1, 2011.
"Easdaq Makes A Comeback As Equiduct". Archived from the original on February 13, 2011.
"Sustainable Stock Exchanges Initiative: Exchanges listing over 4,600 companies commit to
promoting sustainability". Reuters.com. Reuters. Archived from the original on May 13, 2014.
Retrieved May 13, 2014.
"Nasdaq's New CEO Attributes Her Success to an 'Eclectic' Career Path". Fortune. November
15, 2016. Archived from the original on November 17, 2016. Retrieved November 17, 2016.
Osipovich, Alexander (October 26, 2017). "Startup Exchange Cleared to Take on NYSE,
Nasdaq for Stock Listings". Wall Street Journal. New York City, United States. Archived from
the original on October 26, 2017. Retrieved October 26, 2017.
Alexander Osipovich; Dave Michaels; Gretchen Morgenson. "SEC Ruling Takes Aim at Stock-
Exchange Profits". Wall Street Journal. Retrieved 18 October 2018.
"SEC rules NYSE and Nasdaq did not justify data fee increases". Financial Times. Retrieved 18
October 2018.
Michaels, Dave (2018-10-19). "NYSE, Nasdaq Take It on the Chin in Washington". Wall Street
Journal. ISSN 0099-9660. Retrieved 2018-10-19.
"Order Book, Level 2 Market Data, and Depth of Market". Daytrading. About.com. Archived
from the original on February 13, 2011.
"Nasdaq Level III Quote". Archived from the original on April 13, 2014.
"Nasdaq Trading Schedule". Nasdaq.com. Archived from the original on April 17, 2014.
Retrieved April 20, 2014.
"Definition of 'Nasdaq SmallCap Market', now known as Nasdaq Capital Market".
Investopedia.com. Archived from the original on August 4, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Market Composite'". Investopedia.com. Archived from the
original on September 17, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Select Market Composite'". Investopedia.com. Archived from the
original on October 4, 2013. Retrieved August 25, 2013.
Pinto, Jerald E.; Henry, Elaine; Robinson, Thomas R.; Stowe, John D. (2010). Equity Asset
Valuation. CFA Institute Investment Series. 27 (2 ed.). John Wiley & Sons. p. 6. ISBN
9780470579657. Archived from the original on May 10, 2013. Retrieved March 4, 2013. [...]
NASDAQ-GS stands for 'Nasdaq Global Select Market,' [...]
"Measuring Worth – Measures of worth, inflation rates, saving calculator, relative value, worth
of a dollar, worth of a pound, purchasing power, gold prices, GDP, history of wages, average
wage". measuringworth.com. Archived from the original on October 4, 2015. Retrieved October
2, 2015.
External links
Official Website
vte
Nasdaq, Inc.
vte
Financial markets
vte
Major United States stock market indices
Categories: Stock exchanges in the United StatesElectronic trading platformsPrivate equity
portfolio companiesAmerican companies established in 19711971 establishments in New York
(state)Companies based in New York CityEconomy of New York CityFinancial services
companies established in 1971Financial services companies based in New York City
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NASDAQ
From Wikipedia, the free encyclopedia
Jump to navigationJump to search
Nasdaq

Type Stock exchange

Location One Liberty Plaza


165 Broadway, New York City, New York, U.S.

Founded February 4, 1971; 47 years ago


Owner Nasdaq, Inc.

Currency United States Dollar

No. of listings 3,321 (June 2018)[1]

Market cap
$10 trillion
Website Business.Nasdaq.com

The Nasdaq Stock Market (/ˈnæzˌdæk/ ( listen), also known simply as Nasdaq) is an American
stock exchange. It is the second-largest stock exchange in the world by market capitalization,
behind only the New York Stock Exchange located in the same city.[2] The exchange platform is
owned by Nasdaq, Inc.,[3] which also owns the Nasdaq Nordic (formerly known as OMX) and
Nasdaq Baltic stock market network and several U.S. stock and options exchanges
Contents
• 1History
o 1.11971–1999
o 1.22000–present
• 2Quote availability
• 3Trading schedule
• 4Market tiers
• 5Average annualized growth rate
• 6See also
• 7References
• 8External links
History[edit]
1971–1999[edit]
"Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated
Quotations.[4] It was founded in 1971 by the National Association of Securities Dealers
(NASD),[5] which divested itself of Nasdaq in a series of sales in 2000 and 2001. The Nasdaq
Stock Market is owned and operated by Nasdaq, Inc., the stock of which was listed on its own
securities exchange on July 2, 2002, under the ticker symbol NDAQ.

Former logo used from 1971 to 2014


The Nasdaq Stock Market began trading on February 8, 1971. It was the world's first electronic
stock market.[5] At first, it was merely a “quotation system” and did not provide a way to
perform electronic trades.[6][not in citation given]The Nasdaq Stock Market helped lower the
spread (the difference between the bid price and the ask price of the stock) but was unpopular
among brokerages which made much of their money on the spread.
The NASDAQ Stock Market eventually assumed the majority of major trades that had been
executed by the over-the-counter (OTC) system of trading, but there are still many securities
traded in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as
"OTC" in media reports[7] and also in the monthly Stock Guides (stock guides and procedures)
issued by Standard & Poor's Corporation.[citation needed]
Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and
volume reporting and automated trading systems. It was also the first stock market in the United
States to trade online, highlighting Nasdaq-traded companies and closing with the declaration
that the Nasdaq Stock Market is "the stock market for the next hundred years". The Nasdaq
Stock Market attracted new growth companies, including Microsoft, Apple, Cisco, Oracle and
Dell, and it helped modernize the IPO.
Its main index is the NASDAQ Composite, which has been published since its inception.
However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, which was
introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100
companies in terms of market capitalization.
In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first
intercontinental linkage of securities markets.[8] The National Association of Securities Dealers
spun off the Nasdaq Stock Market in 2000 to form a publicly traded company.

The NASDAQ Composite index spiked in the late 1990s and then fell sharply as a result of the
dot-com bubble.
2000–present[edit]

Studio
On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3227 by April
17,[9] and in the following 30 months fell 78% from its peak.[10]
In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed
national securities exchange.[11]
In 2007, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries,
expanded its global footprint, and changed its name to the NASDAQ OMX Group.[12]
To qualify for listing on the exchange, a company must be registered with the United States
Securities and Exchange Commission (SEC), must have at least three market makers (financial
firms that act as brokers or dealers for specific securities) and must meet minimum requirements
for assets, capital, public shares, and shareholders.
In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Börse,
speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a
counter-bid of their own for NYSE. NASDAQ OMX could be[when?] looking to acquire the
American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE
Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was
valued at $9.45 billion."[13] Late in the month, Nasdaq was reported to be considering asking
either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it
proceeded, an $11–12 billion counterbid.[14]
The European Association of Securities Dealers Automatic Quotation System (EASDAQ) was
founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in
2001 and became NASDAQ Europe. Operations were shut down, however, as a result of the
burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, and is
currently[when?] operating under Börse Berlin.[15]
On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable
Stock Exchanges initiative on the eve of the United Nations Conference on Sustainable
Development (Rio+20).[16]
In November 2016, Nasdaq Chief Operating Officer Adena Friedman was promoted to the role
of CEO, becoming the first woman to run a major exchange in the U.S.[17] In 2016, Nasdaq
earned $272 million in listings-related revenues.[18]
In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price
increases when selling market data.[19][20][21]
Quote availability[edit]
Nasdaq quotes are available at three levels:
• Level 1 shows the highest bid and lowest ask—inside quote.
• Level 2 shows all public quotes of market makers together with information of market
dealers wishing to buy or sell stock and recently executed orders.[22]
• Level 3 is used by the market makers and allows them to enter their quotes and execute
orders.[23]
Trading schedule[edit]
The Nasdaq Stock Market sessions eastern time are:
4:00 am to 9:30 am premarket session
9:30 am to 4:00 pm normal trading session
4:00 pm to 8:00 pm postmarket session[24]
Market tiers[edit]
The Nasdaq Stock Market has three different market tiers:
• Capital Market (small cap) is an equity market for companies that have relatively small
levels of market capitalization. Listing requirements for such "small cap" companies are less
stringent than for other Nasdaq markets that list larger companies with significantly higher
market capitalization.[25]
• Global Market (mid cap) is made up of stocks that represent the Nasdaq Global Market.
The Global Market consists of 1,450 stocks that meet Nasdaq's strict financial and liquidity
requirements, and corporate governance standards. The Global Market is less exclusive than the
Global Select Market.[26]
• Global Select Market (NASDAQ-GS large cap) is a market capitalization-weighted index
made up of US-based and international stocks that represent the Global Select Market
Composite. The Global Select Market consists of 1,200 stocks that meet Nasdaq's strict financial
and liquidity requirements and corporate governance standards. The Global Select Market is
more exclusive than the Global Market. Every October, the Nasdaq Listing Qualifications
Department reviews the Global Market Composite to determine if any of its stocks have become
eligible for listing on the Global Select Market.[27][28]
Average annualized growth rate[edit]
As of June 2015, the Nasdaq Stock Market had an average annualized growth rate of 9.24%
since its opening in February 1971. Since the end of the recession in June 2009 however, it has
increased by 18.29% per year.[29]
See also[edit]
• New York City portal
Wikimedia Commons has media related to NASDAQ.

• ACT (NASDAQ)
• Advanced Computerized Execution System
• Directors Desk
• Economy of New York City
• List of stock exchange mergers in the Americas
• List of stock exchanges
• List of stock exchanges in the Americas
• NASDAQ futures
• Nasdaq, Inc.
• NASDAQ-100
• NASDAQ Financial-100
• United States corporate law
References[edit]
1. Jump up^ "Nasdaq Companies". Archived from the original on February 13, 2011.
Retrieved June 1, 2018.
2. Jump up^ "Monthly Reports". World-Exchanges.org. World Federation of Exchanges.
Archived from the original on August 17, 2014. Retrieved June 3, 2015.
3. Jump up^ "Nasdaq – Business Solutions & Services". Business.nasdaq.com. Archived
from the original on October 20, 2016. Retrieved October 23,2016.
4. Jump up^ Frequently Asked Questions. NASDAQ.com. NASDAQ, n.d. Web. December
23, 2001. Archived February 13, 2011, at WebCite
5. ^ Jump up to:a b Terrell, Ellen. "History of the American and Nasdaq Stock Exchanges".
LOC.gov. Library of Congress Business Reference Services. Archived from the original on April
14, 2013. Retrieved April 27, 2013.
6. Jump up^ "Nasdaq.com Frequently Asked Questions". Nasdaq.com. Retrieved October
23, 2016.
7. Jump up^ Gilpin, Kenneth N. (July 3, 1987). "Company News: An Erratic Quarter for
Stock Markets". The New York Times. ISSN 0362-4331. Archived from the original on August
1, 2017. Retrieved February 1, 2017.
8. Jump up^ Odekon, Mehmet (March 17, 2015). Booms and Busts: An Encyclopedia of
Economic History from the First Stock Market Crash of 1792 to the Current Global Economic
Crisis: An Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the
Current Global Economic Crisis. Routledge. ISBN 9781317475750. Archived from the original
on August 3, 2017.
9. Jump up^ "NASDAQ Composite daily index". Archived from the original on November
22, 2010.
10. Jump up^ Glassman, James K. (February 11, 2015). "3 Lessons for Investors From the
Tech Bubble". Kiplinger's Personal Finance. Archived from the original on April 15, 2017.
11. Jump up^ Walsh, Michelle. "Nasdaq Stock Market Becomes A National Securities
Exchange; Changes Market Designations". Archived from the original on December 17, 2013.
12. Jump up^ Lucchetti, Aaron; MacDonald, Alistair (May 26, 2007). "Nasdaq Lands OMX
for $3.7 Billion; Are More Merger Deals on the Way?". Wall Street Journal. ISSN 0099-9660.
Archived from the original on July 31, 2017. Retrieved July 21, 2017.
13. Jump up^ De la Merced, Michael J., "Nasdaq and ICE Hold Talks Over Potential
N.Y.S.E. Bid" Archived January 20, 2012, at the Wayback Machine., The New York Times
Dealbook, February 18, 2011, 12:46 pm. Retrieved February 18, 2011.
14. Jump up^ Fraser, Michelle E., "Nasdaq May Ask CME or ICE for Help in NYSE
Counterbid, WSJ Says" Archived July 29, 2014, at the Wayback Machine., Bloomberg, February
26, 2011 9:30 AM ET. Retrieved March 1, 2011.
15. Jump up^ "Easdaq Makes A Comeback As Equiduct". Archived from the original on
February 13, 2011.
16. Jump up^ "Sustainable Stock Exchanges Initiative: Exchanges listing over 4,600
companies commit to promoting sustainability". Reuters.com. Reuters. Archived from the
original on May 13, 2014. Retrieved May 13, 2014.
17. Jump up^ "Nasdaq's New CEO Attributes Her Success to an 'Eclectic' Career Path".
Fortune. November 15, 2016. Archived from the original on November 17, 2016. Retrieved
November 17, 2016.
18. Jump up^ Osipovich, Alexander (October 26, 2017). "Startup Exchange Cleared to Take
on NYSE, Nasdaq for Stock Listings". Wall Street Journal. New York City, United States.
Archived from the original on October 26, 2017. Retrieved October 26, 2017.
19. Jump up^ Alexander Osipovich; Dave Michaels; Gretchen Morgenson. "SEC Ruling
Takes Aim at Stock-Exchange Profits". Wall Street Journal. Retrieved 18 October 2018.
20. Jump up^ "SEC rules NYSE and Nasdaq did not justify data fee increases". Financial
Times. Retrieved 18 October 2018.
21. Jump up^ Michaels, Dave (2018-10-19). "NYSE, Nasdaq Take It on the Chin in
Washington". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-10-19.
22. Jump up^ "Order Book, Level 2 Market Data, and Depth of Market". Daytrading.
About.com. Archived from the original on February 13, 2011.
23. Jump up^ "Nasdaq Level III Quote". Archived from the original on April 13, 2014.
24. Jump up^ "Nasdaq Trading Schedule". Nasdaq.com. Archived from the original on April
17, 2014. Retrieved April 20, 2014.
25. Jump up^ "Definition of 'Nasdaq SmallCap Market', now known as Nasdaq Capital
Market". Investopedia.com. Archived from the original on August 4, 2013. Retrieved August 25,
2013.
26. Jump up^ "Definition of 'Nasdaq Global Market Composite'". Investopedia.com.
Archived from the original on September 17, 2013. Retrieved August 25,2013.
27. Jump up^ "Definition of 'Nasdaq Global Select Market Composite'". Investopedia.com.
Archived from the original on October 4, 2013. Retrieved August 25, 2013.
28. Jump up^ Pinto, Jerald E.; Henry, Elaine; Robinson, Thomas R.; Stowe, John D. (2010).
Equity Asset Valuation. CFA Institute Investment Series. 27 (2 ed.). John Wiley & Sons. p. 6.
ISBN 9780470579657. Archived from the original on May 10, 2013. Retrieved March 4, 2013.
[...] NASDAQ-GS stands for 'Nasdaq Global Select Market,' [...]
29. Jump up^ "Measuring Worth – Measures of worth, inflation rates, saving calculator,
relative value, worth of a dollar, worth of a pound, purchasing power, gold prices, GDP, history
of wages, average wage". measuringworth.com. Archived from the original on October 4, 2015.
Retrieved October 2, 2015.
External links[edit]
• Official Website
show
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• t
• e
Nasdaq, Inc.

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• t
• e
Financial markets

show
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• t
• e
Major United States stock market indices

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NASDAQ
From Wikipedia, the free encyclopedia
Jump to navigationJump to search
Nasdaq
Nasdaq logo.svg
Type Stock exchange
Location One Liberty Plaza
165 Broadway, New York City, New York, U.S.
Founded February 4, 1971; 47 years ago
Owner Nasdaq, Inc.
Currency United States Dollar
No. of listings 3,321 (June 2018)[1]
Market cap Increase $10 trillion
Website Business.Nasdaq.com
The Nasdaq Stock Market (/ˈnæzˌdæk/ (About this sound listen), also known simply as Nasdaq)
is an American stock exchange. It is the second-largest stock exchange in the world by market
capitalization, behind only the New York Stock Exchange located in the same city.[2] The
exchange platform is owned by Nasdaq, Inc.,[3] which also owns the Nasdaq Nordic (formerly
known as OMX) and Nasdaq Baltic stock market network and several U.S. stock and options
exchanges

Contents
1 History
1.1 1971–1999
1.2 2000–present
2 Quote availability
3 Trading schedule
4 Market tiers
5 Average annualized growth rate
6 See also
7 References
8 External links
History
1971–1999
"Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated
Quotations.[4] It was founded in 1971 by the National Association of Securities Dealers
(NASD),[5] which divested itself of Nasdaq in a series of sales in 2000 and 2001. The Nasdaq
Stock Market is owned and operated by Nasdaq, Inc., the stock of which was listed on its own
securities exchange on July 2, 2002, under the ticker symbol NDAQ.

Former logo used from 1971 to 2014


The Nasdaq Stock Market began trading on February 8, 1971. It was the world's first electronic
stock market.[5] At first, it was merely a “quotation system” and did not provide a way to
perform electronic trades.[6][not in citation given] The Nasdaq Stock Market helped lower the
spread (the difference between the bid price and the ask price of the stock) but was unpopular
among brokerages which made much of their money on the spread.
The NASDAQ Stock Market eventually assumed the majority of major trades that had been
executed by the over-the-counter (OTC) system of trading, but there are still many securities
traded in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as
"OTC" in media reports[7] and also in the monthly Stock Guides (stock guides and procedures)
issued by Standard & Poor's Corporation.[citation needed]

Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and
volume reporting and automated trading systems. It was also the first stock market in the United
States to trade online, highlighting Nasdaq-traded companies and closing with the declaration
that the Nasdaq Stock Market is "the stock market for the next hundred years". The Nasdaq
Stock Market attracted new growth companies, including Microsoft, Apple, Cisco, Oracle and
Dell, and it helped modernize the IPO.

Its main index is the NASDAQ Composite, which has been published since its inception.
However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, which was
introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100
companies in terms of market capitalization.

In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first
intercontinental linkage of securities markets.[8] The National Association of Securities Dealers
spun off the Nasdaq Stock Market in 2000 to form a publicly traded company.

The NASDAQ Composite index spiked in the late 1990s and then fell sharply as a result of the
dot-com bubble.
2000–present

Studio
On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3227 by April
17,[9] and in the following 30 months fell 78% from its peak.[10]

In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed
national securities exchange.[11]

In 2007, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries,
expanded its global footprint, and changed its name to the NASDAQ OMX Group.[12]

To qualify for listing on the exchange, a company must be registered with the United States
Securities and Exchange Commission (SEC), must have at least three market makers (financial
firms that act as brokers or dealers for specific securities) and must meet minimum requirements
for assets, capital, public shares, and shareholders.

In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Börse,
speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a
counter-bid of their own for NYSE. NASDAQ OMX could be[when?] looking to acquire the
American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE
Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was
valued at $9.45 billion."[13] Late in the month, Nasdaq was reported to be considering asking
either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it
proceeded, an $11–12 billion counterbid.[14]

The European Association of Securities Dealers Automatic Quotation System (EASDAQ) was
founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in
2001 and became NASDAQ Europe. Operations were shut down, however, as a result of the
burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, and is
currently[when?] operating under Börse Berlin.[15]

On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable
Stock Exchanges initiative on the eve of the United Nations Conference on Sustainable
Development (Rio+20).[16]

In November 2016, Nasdaq Chief Operating Officer Adena Friedman was promoted to the role
of CEO, becoming the first woman to run a major exchange in the U.S.[17] In 2016, Nasdaq
earned $272 million in listings-related revenues.[18]

In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price
increases when selling market data.[19][20][21]

Quote availability
Nasdaq quotes are available at three levels:

Level 1 shows the highest bid and lowest ask—inside quote.


Level 2 shows all public quotes of market makers together with information of market dealers
wishing to buy or sell stock and recently executed orders.[22]
Level 3 is used by the market makers and allows them to enter their quotes and execute
orders.[23]
Trading schedule
The Nasdaq Stock Market sessions eastern time are:

4:00 am to 9:30 am premarket session

9:30 am to 4:00 pm normal trading session

4:00 pm to 8:00 pm postmarket session[24]

Market tiers
The Nasdaq Stock Market has three different market tiers:

Capital Market (small cap) is an equity market for companies that have relatively small levels of
market capitalization. Listing requirements for such "small cap" companies are less stringent
than for other Nasdaq markets that list larger companies with significantly higher market
capitalization.[25]
Global Market (mid cap) is made up of stocks that represent the Nasdaq Global Market. The
Global Market consists of 1,450 stocks that meet Nasdaq's strict financial and liquidity
requirements, and corporate governance standards. The Global Market is less exclusive than the
Global Select Market.[26]
Global Select Market (NASDAQ-GS large cap) is a market capitalization-weighted index made
up of US-based and international stocks that represent the Global Select Market Composite. The
Global Select Market consists of 1,200 stocks that meet Nasdaq's strict financial and liquidity
requirements and corporate governance standards. The Global Select Market is more exclusive
than the Global Market. Every October, the Nasdaq Listing Qualifications Department reviews
the Global Market Composite to determine if any of its stocks have become eligible for listing on
the Global Select Market.[27][28]
Average annualized growth rate
As of June 2015, the Nasdaq Stock Market had an average annualized growth rate of 9.24%
since its opening in February 1971. Since the end of the recession in June 2009 however, it has
increased by 18.29% per year.[29]

See also
flag New York City portal
Wikimedia Commons has media related to NASDAQ.
ACT (NASDAQ)
Advanced Computerized Execution System
Directors Desk
Economy of New York City
List of stock exchange mergers in the Americas
List of stock exchanges
List of stock exchanges in the Americas
NASDAQ futures
Nasdaq, Inc.
NASDAQ-100
NASDAQ Financial-100
United States corporate law
References
"Nasdaq Companies". Archived from the original on February 13, 2011. Retrieved June 1, 2018.
"Monthly Reports". World-Exchanges.org. World Federation of Exchanges. Archived from the
original on August 17, 2014. Retrieved June 3, 2015.
"Nasdaq – Business Solutions & Services". Business.nasdaq.com. Archived from the original on
October 20, 2016. Retrieved October 23, 2016.
Frequently Asked Questions. NASDAQ.com. NASDAQ, n.d. Web. December 23, 2001.
Archived February 13, 2011, at WebCite
Terrell, Ellen. "History of the American and Nasdaq Stock Exchanges". LOC.gov. Library of
Congress Business Reference Services. Archived from the original on April 14, 2013. Retrieved
April 27, 2013.
"Nasdaq.com Frequently Asked Questions". Nasdaq.com. Retrieved October 23, 2016.
Gilpin, Kenneth N. (July 3, 1987). "Company News: An Erratic Quarter for Stock Markets".
The New York Times. ISSN 0362-4331. Archived from the original on August 1, 2017.
Retrieved February 1, 2017.
Odekon, Mehmet (March 17, 2015). Booms and Busts: An Encyclopedia of Economic History
from the First Stock Market Crash of 1792 to the Current Global Economic Crisis: An
Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the Current
Global Economic Crisis. Routledge. ISBN 9781317475750. Archived from the original on
August 3, 2017.
"NASDAQ Composite daily index". Archived from the original on November 22, 2010.
Glassman, James K. (February 11, 2015). "3 Lessons for Investors From the Tech Bubble".
Kiplinger's Personal Finance. Archived from the original on April 15, 2017.
Walsh, Michelle. "Nasdaq Stock Market Becomes A National Securities Exchange; Changes
Market Designations". Archived from the original on December 17, 2013.
Lucchetti, Aaron; MacDonald, Alistair (May 26, 2007). "Nasdaq Lands OMX for $3.7 Billion;
Are More Merger Deals on the Way?". Wall Street Journal. ISSN 0099-9660. Archived from the
original on July 31, 2017. Retrieved July 21, 2017.
De la Merced, Michael J., "Nasdaq and ICE Hold Talks Over Potential N.Y.S.E. Bid" Archived
January 20, 2012, at the Wayback Machine., The New York Times Dealbook, February 18,
2011, 12:46 pm. Retrieved February 18, 2011.
Fraser, Michelle E., "Nasdaq May Ask CME or ICE for Help in NYSE Counterbid, WSJ Says"
Archived July 29, 2014, at the Wayback Machine., Bloomberg, February 26, 2011 9:30 AM ET.
Retrieved March 1, 2011.
"Easdaq Makes A Comeback As Equiduct". Archived from the original on February 13, 2011.
"Sustainable Stock Exchanges Initiative: Exchanges listing over 4,600 companies commit to
promoting sustainability". Reuters.com. Reuters. Archived from the original on May 13, 2014.
Retrieved May 13, 2014.
"Nasdaq's New CEO Attributes Her Success to an 'Eclectic' Career Path". Fortune. November
15, 2016. Archived from the original on November 17, 2016. Retrieved November 17, 2016.
Osipovich, Alexander (October 26, 2017). "Startup Exchange Cleared to Take on NYSE,
Nasdaq for Stock Listings". Wall Street Journal. New York City, United States. Archived from
the original on October 26, 2017. Retrieved October 26, 2017.
Alexander Osipovich; Dave Michaels; Gretchen Morgenson. "SEC Ruling Takes Aim at Stock-
Exchange Profits". Wall Street Journal. Retrieved 18 October 2018.
"SEC rules NYSE and Nasdaq did not justify data fee increases". Financial Times. Retrieved 18
October 2018.
Michaels, Dave (2018-10-19). "NYSE, Nasdaq Take It on the Chin in Washington". Wall Street
Journal. ISSN 0099-9660. Retrieved 2018-10-19.
"Order Book, Level 2 Market Data, and Depth of Market". Daytrading. About.com. Archived
from the original on February 13, 2011.
"Nasdaq Level III Quote". Archived from the original on April 13, 2014.
"Nasdaq Trading Schedule". Nasdaq.com. Archived from the original on April 17, 2014.
Retrieved April 20, 2014.
"Definition of 'Nasdaq SmallCap Market', now known as Nasdaq Capital Market".
Investopedia.com. Archived from the original on August 4, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Market Composite'". Investopedia.com. Archived from the
original on September 17, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Select Market Composite'". Investopedia.com. Archived from the
original on October 4, 2013. Retrieved August 25, 2013.
Pinto, Jerald E.; Henry, Elaine; Robinson, Thomas R.; Stowe, John D. (2010). Equity Asset
Valuation. CFA Institute Investment Series. 27 (2 ed.). John Wiley & Sons. p. 6. ISBN
9780470579657. Archived from the original on May 10, 2013. Retrieved March 4, 2013. [...]
NASDAQ-GS stands for 'Nasdaq Global Select Market,' [...]
"Measuring Worth – Measures of worth, inflation rates, saving calculator, relative value, worth
of a dollar, worth of a pound, purchasing power, gold prices, GDP, history of wages, average
wage". measuringworth.com. Archived from the original on October 4, 2015. Retrieved October
2, 2015.
External links
Official Website
vte
Nasdaq, Inc.
vte
Financial markets
vte
Major United States stock market indices
Categories: Stock exchanges in the United StatesElectronic trading platformsPrivate equity
portfolio companiesAmerican companies established in 19711971 establishments in New York
(state)Companies based in New York CityEconomy of New York CityFinancial services
companies established in 1971Financial services companies based in New York City
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NASDAQ
From Wikipedia, the free encyclopedia
Jump to navigationJump to search
Nasdaq

Type Stock exchange

Location One Liberty Plaza


165 Broadway, New York City, New York, U.S.

Founded February 4, 1971; 47 years ago


Owner Nasdaq, Inc.

Currency United States Dollar

No. of listings 3,321 (June 2018)[1]

Market cap
$10 trillion

Website Business.Nasdaq.com

The Nasdaq Stock Market (/ˈnæzˌdæk/ ( listen), also known simply as Nasdaq) is an American
stock exchange. It is the second-largest stock exchange in the world by market capitalization,
behind only the New York Stock Exchange located in the same city.[2] The exchange platform is
owned by Nasdaq, Inc.,[3] which also owns the Nasdaq Nordic (formerly known as OMX) and
Nasdaq Baltic stock market network and several U.S. stock and options exchanges
Contents
• 1History
o 1.11971–1999
o 1.22000–present
• 2Quote availability
• 3Trading schedule
• 4Market tiers
• 5Average annualized growth rate
• 6See also
• 7References
• 8External links
History[edit]
1971–1999[edit]
"Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated
Quotations.[4] It was founded in 1971 by the National Association of Securities Dealers
(NASD),[5] which divested itself of Nasdaq in a series of sales in 2000 and 2001. The Nasdaq
Stock Market is owned and operated by Nasdaq, Inc., the stock of which was listed on its own
securities exchange on July 2, 2002, under the ticker symbol NDAQ.

Former logo used from 1971 to 2014


The Nasdaq Stock Market began trading on February 8, 1971. It was the world's first electronic
stock market.[5] At first, it was merely a “quotation system” and did not provide a way to
perform electronic trades.[6][not in citation given]The Nasdaq Stock Market helped lower the
spread (the difference between the bid price and the ask price of the stock) but was unpopular
among brokerages which made much of their money on the spread.
The NASDAQ Stock Market eventually assumed the majority of major trades that had been
executed by the over-the-counter (OTC) system of trading, but there are still many securities
traded in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as
"OTC" in media reports[7] and also in the monthly Stock Guides (stock guides and procedures)
issued by Standard & Poor's Corporation.[citation needed]
Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and
volume reporting and automated trading systems. It was also the first stock market in the United
States to trade online, highlighting Nasdaq-traded companies and closing with the declaration
that the Nasdaq Stock Market is "the stock market for the next hundred years". The Nasdaq
Stock Market attracted new growth companies, including Microsoft, Apple, Cisco, Oracle and
Dell, and it helped modernize the IPO.
Its main index is the NASDAQ Composite, which has been published since its inception.
However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, which was
introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100
companies in terms of market capitalization.
In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first
intercontinental linkage of securities markets.[8] The National Association of Securities Dealers
spun off the Nasdaq Stock Market in 2000 to form a publicly traded company.
The NASDAQ Composite index spiked in the late 1990s and then fell sharply as a result of the
dot-com bubble.
2000–present[edit]

Studio
On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3227 by April
17,[9] and in the following 30 months fell 78% from its peak.[10]
In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed
national securities exchange.[11]
In 2007, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries,
expanded its global footprint, and changed its name to the NASDAQ OMX Group.[12]
To qualify for listing on the exchange, a company must be registered with the United States
Securities and Exchange Commission (SEC), must have at least three market makers (financial
firms that act as brokers or dealers for specific securities) and must meet minimum requirements
for assets, capital, public shares, and shareholders.
In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Börse,
speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a
counter-bid of their own for NYSE. NASDAQ OMX could be[when?] looking to acquire the
American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE
Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was
valued at $9.45 billion."[13] Late in the month, Nasdaq was reported to be considering asking
either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it
proceeded, an $11–12 billion counterbid.[14]
The European Association of Securities Dealers Automatic Quotation System (EASDAQ) was
founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in
2001 and became NASDAQ Europe. Operations were shut down, however, as a result of the
burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, and is
currently[when?] operating under Börse Berlin.[15]
On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable
Stock Exchanges initiative on the eve of the United Nations Conference on Sustainable
Development (Rio+20).[16]
In November 2016, Nasdaq Chief Operating Officer Adena Friedman was promoted to the role
of CEO, becoming the first woman to run a major exchange in the U.S.[17] In 2016, Nasdaq
earned $272 million in listings-related revenues.[18]
In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price
increases when selling market data.[19][20][21]
Quote availability[edit]
Nasdaq quotes are available at three levels:
• Level 1 shows the highest bid and lowest ask—inside quote.
• Level 2 shows all public quotes of market makers together with information of market
dealers wishing to buy or sell stock and recently executed orders.[22]
• Level 3 is used by the market makers and allows them to enter their quotes and execute
orders.[23]
Trading schedule[edit]
The Nasdaq Stock Market sessions eastern time are:
4:00 am to 9:30 am premarket session
9:30 am to 4:00 pm normal trading session
4:00 pm to 8:00 pm postmarket session[24]
Market tiers[edit]
The Nasdaq Stock Market has three different market tiers:
• Capital Market (small cap) is an equity market for companies that have relatively small
levels of market capitalization. Listing requirements for such "small cap" companies are less
stringent than for other Nasdaq markets that list larger companies with significantly higher
market capitalization.[25]
• Global Market (mid cap) is made up of stocks that represent the Nasdaq Global Market.
The Global Market consists of 1,450 stocks that meet Nasdaq's strict financial and liquidity
requirements, and corporate governance standards. The Global Market is less exclusive than the
Global Select Market.[26]
• Global Select Market (NASDAQ-GS large cap) is a market capitalization-weighted index
made up of US-based and international stocks that represent the Global Select Market
Composite. The Global Select Market consists of 1,200 stocks that meet Nasdaq's strict financial
and liquidity requirements and corporate governance standards. The Global Select Market is
more exclusive than the Global Market. Every October, the Nasdaq Listing Qualifications
Department reviews the Global Market Composite to determine if any of its stocks have become
eligible for listing on the Global Select Market.[27][28]
Average annualized growth rate[edit]
As of June 2015, the Nasdaq Stock Market had an average annualized growth rate of 9.24%
since its opening in February 1971. Since the end of the recession in June 2009 however, it has
increased by 18.29% per year.[29]
See also[edit]
• New York City portal
Wikimedia Commons has media related to NASDAQ.

• ACT (NASDAQ)
• Advanced Computerized Execution System
• Directors Desk
• Economy of New York City
• List of stock exchange mergers in the Americas
• List of stock exchanges
• List of stock exchanges in the Americas
• NASDAQ futures
• Nasdaq, Inc.
• NASDAQ-100
• NASDAQ Financial-100
• United States corporate law
References[edit]
1. Jump up^ "Nasdaq Companies". Archived from the original on February 13, 2011.
Retrieved June 1, 2018.
2. Jump up^ "Monthly Reports". World-Exchanges.org. World Federation of Exchanges.
Archived from the original on August 17, 2014. Retrieved June 3, 2015.
3. Jump up^ "Nasdaq – Business Solutions & Services". Business.nasdaq.com. Archived
from the original on October 20, 2016. Retrieved October 23,2016.
4. Jump up^ Frequently Asked Questions. NASDAQ.com. NASDAQ, n.d. Web. December
23, 2001. Archived February 13, 2011, at WebCite
5. ^ Jump up to:a b Terrell, Ellen. "History of the American and Nasdaq Stock Exchanges".
LOC.gov. Library of Congress Business Reference Services. Archived from the original on April
14, 2013. Retrieved April 27, 2013.
6. Jump up^ "Nasdaq.com Frequently Asked Questions". Nasdaq.com. Retrieved October
23, 2016.
7. Jump up^ Gilpin, Kenneth N. (July 3, 1987). "Company News: An Erratic Quarter for
Stock Markets". The New York Times. ISSN 0362-4331. Archived from the original on August
1, 2017. Retrieved February 1, 2017.
8. Jump up^ Odekon, Mehmet (March 17, 2015). Booms and Busts: An Encyclopedia of
Economic History from the First Stock Market Crash of 1792 to the Current Global Economic
Crisis: An Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the
Current Global Economic Crisis. Routledge. ISBN 9781317475750. Archived from the original
on August 3, 2017.
9. Jump up^ "NASDAQ Composite daily index". Archived from the original on November
22, 2010.
10. Jump up^ Glassman, James K. (February 11, 2015). "3 Lessons for Investors From the
Tech Bubble". Kiplinger's Personal Finance. Archived from the original on April 15, 2017.
11. Jump up^ Walsh, Michelle. "Nasdaq Stock Market Becomes A National Securities
Exchange; Changes Market Designations". Archived from the original on December 17, 2013.
12. Jump up^ Lucchetti, Aaron; MacDonald, Alistair (May 26, 2007). "Nasdaq Lands OMX
for $3.7 Billion; Are More Merger Deals on the Way?". Wall Street Journal. ISSN 0099-9660.
Archived from the original on July 31, 2017. Retrieved July 21, 2017.
13. Jump up^ De la Merced, Michael J., "Nasdaq and ICE Hold Talks Over Potential
N.Y.S.E. Bid" Archived January 20, 2012, at the Wayback Machine., The New York Times
Dealbook, February 18, 2011, 12:46 pm. Retrieved February 18, 2011.
14. Jump up^ Fraser, Michelle E., "Nasdaq May Ask CME or ICE for Help in NYSE
Counterbid, WSJ Says" Archived July 29, 2014, at the Wayback Machine., Bloomberg, February
26, 2011 9:30 AM ET. Retrieved March 1, 2011.
15. Jump up^ "Easdaq Makes A Comeback As Equiduct". Archived from the original on
February 13, 2011.
16. Jump up^ "Sustainable Stock Exchanges Initiative: Exchanges listing over 4,600
companies commit to promoting sustainability". Reuters.com. Reuters. Archived from the
original on May 13, 2014. Retrieved May 13, 2014.
17. Jump up^ "Nasdaq's New CEO Attributes Her Success to an 'Eclectic' Career Path".
Fortune. November 15, 2016. Archived from the original on November 17, 2016. Retrieved
November 17, 2016.
18. Jump up^ Osipovich, Alexander (October 26, 2017). "Startup Exchange Cleared to Take
on NYSE, Nasdaq for Stock Listings". Wall Street Journal. New York City, United States.
Archived from the original on October 26, 2017. Retrieved October 26, 2017.
19. Jump up^ Alexander Osipovich; Dave Michaels; Gretchen Morgenson. "SEC Ruling
Takes Aim at Stock-Exchange Profits". Wall Street Journal. Retrieved 18 October 2018.
20. Jump up^ "SEC rules NYSE and Nasdaq did not justify data fee increases". Financial
Times. Retrieved 18 October 2018.
21. Jump up^ Michaels, Dave (2018-10-19). "NYSE, Nasdaq Take It on the Chin in
Washington". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-10-19.
22. Jump up^ "Order Book, Level 2 Market Data, and Depth of Market". Daytrading.
About.com. Archived from the original on February 13, 2011.
23. Jump up^ "Nasdaq Level III Quote". Archived from the original on April 13, 2014.
24. Jump up^ "Nasdaq Trading Schedule". Nasdaq.com. Archived from the original on April
17, 2014. Retrieved April 20, 2014.
25. Jump up^ "Definition of 'Nasdaq SmallCap Market', now known as Nasdaq Capital
Market". Investopedia.com. Archived from the original on August 4, 2013. Retrieved August 25,
2013.
26. Jump up^ "Definition of 'Nasdaq Global Market Composite'". Investopedia.com.
Archived from the original on September 17, 2013. Retrieved August 25,2013.
27. Jump up^ "Definition of 'Nasdaq Global Select Market Composite'". Investopedia.com.
Archived from the original on October 4, 2013. Retrieved August 25, 2013.
28. Jump up^ Pinto, Jerald E.; Henry, Elaine; Robinson, Thomas R.; Stowe, John D. (2010).
Equity Asset Valuation. CFA Institute Investment Series. 27 (2 ed.). John Wiley & Sons. p. 6.
ISBN 9780470579657. Archived from the original on May 10, 2013. Retrieved March 4, 2013.
[...] NASDAQ-GS stands for 'Nasdaq Global Select Market,' [...]
29. Jump up^ "Measuring Worth – Measures of worth, inflation rates, saving calculator,
relative value, worth of a dollar, worth of a pound, purchasing power, gold prices, GDP, history
of wages, average wage". measuringworth.com. Archived from the original on October 4, 2015.
Retrieved October 2, 2015.
External links[edit]
• Official Website
show
• v
• t
• e
Nasdaq, Inc.

show
• v
• t
• e
Financial markets

show
• v
• t
• e
Major United States stock market indices

Categories:
• Stock exchanges in the United States
• Electronic trading platforms
• Private equity portfolio companies
• American companies established in 1971
• 1971 establishments in New York (state)
• Companies based in New York City
• Economy of New York City
• Financial services companies established in 1971
• Financial services companies based in New York City
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Jump to navigationJump to search
Nasdaq
Nasdaq logo.svg
Type Stock exchange
Location One Liberty Plaza
165 Broadway, New York City, New York, U.S.
Founded February 4, 1971; 47 years ago
Owner Nasdaq, Inc.
Currency United States Dollar
No. of listings 3,321 (June 2018)[1]
Market cap Increase $10 trillion
Website Business.Nasdaq.com
The Nasdaq Stock Market (/ˈnæzˌdæk/ (About this sound listen), also known simply as Nasdaq)
is an American stock exchange. It is the second-largest stock exchange in the world by market
capitalization, behind only the New York Stock Exchange located in the same city.[2] The
exchange platform is owned by Nasdaq, Inc.,[3] which also owns the Nasdaq Nordic (formerly
known as OMX) and Nasdaq Baltic stock market network and several U.S. stock and options
exchanges

Contents
1 History
1.1 1971–1999
1.2 2000–present
2 Quote availability
3 Trading schedule
4 Market tiers
5 Average annualized growth rate
6 See also
7 References
8 External links
History
1971–1999
"Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated
Quotations.[4] It was founded in 1971 by the National Association of Securities Dealers
(NASD),[5] which divested itself of Nasdaq in a series of sales in 2000 and 2001. The Nasdaq
Stock Market is owned and operated by Nasdaq, Inc., the stock of which was listed on its own
securities exchange on July 2, 2002, under the ticker symbol NDAQ.

Former logo used from 1971 to 2014


The Nasdaq Stock Market began trading on February 8, 1971. It was the world's first electronic
stock market.[5] At first, it was merely a “quotation system” and did not provide a way to
perform electronic trades.[6][not in citation given] The Nasdaq Stock Market helped lower the
spread (the difference between the bid price and the ask price of the stock) but was unpopular
among brokerages which made much of their money on the spread.

The NASDAQ Stock Market eventually assumed the majority of major trades that had been
executed by the over-the-counter (OTC) system of trading, but there are still many securities
traded in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as
"OTC" in media reports[7] and also in the monthly Stock Guides (stock guides and procedures)
issued by Standard & Poor's Corporation.[citation needed]

Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and
volume reporting and automated trading systems. It was also the first stock market in the
United States to trade online, highlighting Nasdaq-traded companies and closing with the
declaration that the Nasdaq Stock Market is "the stock market for the next hundred years". The
Nasdaq Stock Market attracted new growth companies, including Microsoft, Apple, Cisco,
Oracle and Dell, and it helped modernize the IPO.

Its main index is the NASDAQ Composite, which has been published since its inception.
However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, which was
introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100
companies in terms of market capitalization.

In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first
intercontinental linkage of securities markets.[8] The National Association of Securities Dealers
spun off the Nasdaq Stock Market in 2000 to form a publicly traded company.

The NASDAQ Composite index spiked in the late 1990s and then fell sharply as a result of the
dot-com bubble.
2000–present

Studio
On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3227 by April 17,[9]
and in the following 30 months fell 78% from its peak.[10]
In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed
national securities exchange.[11]

In 2007, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries,
expanded its global footprint, and changed its name to the NASDAQ OMX Group.[12]

To qualify for listing on the exchange, a company must be registered with the United States
Securities and Exchange Commission (SEC), must have at least three market makers (financial
firms that act as brokers or dealers for specific securities) and must meet minimum
requirements for assets, capital, public shares, and shareholders.

In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Börse,
speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a
counter-bid of their own for NYSE. NASDAQ OMX could be[when?] looking to acquire the
American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE
Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was
valued at $9.45 billion."[13] Late in the month, Nasdaq was reported to be considering asking
either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it
proceeded, an $11–12 billion counterbid.[14]

The European Association of Securities Dealers Automatic Quotation System (EASDAQ) was
founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in
2001 and became NASDAQ Europe. Operations were shut down, however, as a result of the
burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, and is
currently[when?] operating under Börse Berlin.[15]

On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable
Stock Exchanges initiative on the eve of the United Nations Conference on Sustainable
Development (Rio+20).[16]

In November 2016, Nasdaq Chief Operating Officer Adena Friedman was promoted to the role
of CEO, becoming the first woman to run a major exchange in the U.S.[17] In 2016, Nasdaq
earned $272 million in listings-related revenues.[18]

In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price
increases when selling market data.[19][20][21]

Quote availability
Nasdaq quotes are available at three levels:

Level 1 shows the highest bid and lowest ask—inside quote.


Level 2 shows all public quotes of market makers together with information of market dealers
wishing to buy or sell stock and recently executed orders.[22]
Level 3 is used by the market makers and allows them to enter their quotes and execute
orders.[23]
Trading schedule
The Nasdaq Stock Market sessions eastern time are:

4:00 am to 9:30 am premarket session

9:30 am to 4:00 pm normal trading session

4:00 pm to 8:00 pm postmarket session[24]

Market tiers
The Nasdaq Stock Market has three different market tiers:

Capital Market (small cap) is an equity market for companies that have relatively small levels of
market capitalization. Listing requirements for such "small cap" companies are less stringent
than for other Nasdaq markets that list larger companies with significantly higher market
capitalization.[25]
Global Market (mid cap) is made up of stocks that represent the Nasdaq Global Market. The
Global Market consists of 1,450 stocks that meet Nasdaq's strict financial and liquidity
requirements, and corporate governance standards. The Global Market is less exclusive than
the Global Select Market.[26]
Global Select Market (NASDAQ-GS large cap) is a market capitalization-weighted index made up
of US-based and international stocks that represent the Global Select Market Composite. The
Global Select Market consists of 1,200 stocks that meet Nasdaq's strict financial and liquidity
requirements and corporate governance standards. The Global Select Market is more exclusive
than the Global Market. Every October, the Nasdaq Listing Qualifications Department reviews
the Global Market Composite to determine if any of its stocks have become eligible for listing
on the Global Select Market.[27][28]
Average annualized growth rate
As of June 2015, the Nasdaq Stock Market had an average annualized growth rate of 9.24%
since its opening in February 1971. Since the end of the recession in June 2009 however, it has
increased by 18.29% per year.[29]

See also
flag New York City portal
Wikimedia Commons has media related to NASDAQ.
ACT (NASDAQ)
Advanced Computerized Execution System
Directors Desk
Economy of New York City
List of stock exchange mergers in the Americas
List of stock exchanges
List of stock exchanges in the Americas
NASDAQ futures
Nasdaq, Inc.
NASDAQ-100
NASDAQ Financial-100
United States corporate law
References
"Nasdaq Companies". Archived from the original on February 13, 2011. Retrieved June 1, 2018.
"Monthly Reports". World-Exchanges.org. World Federation of Exchanges. Archived from the
original on August 17, 2014. Retrieved June 3, 2015.
"Nasdaq – Business Solutions & Services". Business.nasdaq.com. Archived from the original on
October 20, 2016. Retrieved October 23, 2016.
Frequently Asked Questions. NASDAQ.com. NASDAQ, n.d. Web. December 23, 2001. Archived
February 13, 2011, at WebCite
Terrell, Ellen. "History of the American and Nasdaq Stock Exchanges". LOC.gov. Library of
Congress Business Reference Services. Archived from the original on April 14, 2013. Retrieved
April 27, 2013.
"Nasdaq.com Frequently Asked Questions". Nasdaq.com. Retrieved October 23, 2016.
Gilpin, Kenneth N. (July 3, 1987). "Company News: An Erratic Quarter for Stock Markets". The
New York Times. ISSN 0362-4331. Archived from the original on August 1, 2017. Retrieved
February 1, 2017.
Odekon, Mehmet (March 17, 2015). Booms and Busts: An Encyclopedia of Economic History
from the First Stock Market Crash of 1792 to the Current Global Economic Crisis: An
Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the Current
Global Economic Crisis. Routledge. ISBN 9781317475750. Archived from the original on August
3, 2017.
"NASDAQ Composite daily index". Archived from the original on November 22, 2010.
Glassman, James K. (February 11, 2015). "3 Lessons for Investors From the Tech Bubble".
Kiplinger's Personal Finance. Archived from the original on April 15, 2017.
Walsh, Michelle. "Nasdaq Stock Market Becomes A National Securities Exchange; Changes
Market Designations". Archived from the original on December 17, 2013.
Lucchetti, Aaron; MacDonald, Alistair (May 26, 2007). "Nasdaq Lands OMX for $3.7 Billion; Are
More Merger Deals on the Way?". Wall Street Journal. ISSN 0099-9660. Archived from the
original on July 31, 2017. Retrieved July 21, 2017.
De la Merced, Michael J., "Nasdaq and ICE Hold Talks Over Potential N.Y.S.E. Bid" Archived
January 20, 2012, at the Wayback Machine., The New York Times Dealbook, February 18, 2011,
12:46 pm. Retrieved February 18, 2011.
Fraser, Michelle E., "Nasdaq May Ask CME or ICE for Help in NYSE Counterbid, WSJ Says"
Archived July 29, 2014, at the Wayback Machine., Bloomberg, February 26, 2011 9:30 AM ET.
Retrieved March 1, 2011.
"Easdaq Makes A Comeback As Equiduct". Archived from the original on February 13, 2011.
"Sustainable Stock Exchanges Initiative: Exchanges listing over 4,600 companies commit to
promoting sustainability". Reuters.com. Reuters. Archived from the original on May 13, 2014.
Retrieved May 13, 2014.
"Nasdaq's New CEO Attributes Her Success to an 'Eclectic' Career Path". Fortune. November
15, 2016. Archived from the original on November 17, 2016. Retrieved November 17, 2016.
Osipovich, Alexander (October 26, 2017). "Startup Exchange Cleared to Take on NYSE, Nasdaq
for Stock Listings". Wall Street Journal. New York City, United States. Archived from the original
on October 26, 2017. Retrieved October 26, 2017.
Alexander Osipovich; Dave Michaels; Gretchen Morgenson. "SEC Ruling Takes Aim at Stock-
Exchange Profits". Wall Street Journal. Retrieved 18 October 2018.
"SEC rules NYSE and Nasdaq did not justify data fee increases". Financial Times. Retrieved 18
October 2018.
Michaels, Dave (2018-10-19). "NYSE, Nasdaq Take It on the Chin in Washington". Wall Street
Journal. ISSN 0099-9660. Retrieved 2018-10-19.
"Order Book, Level 2 Market Data, and Depth of Market". Daytrading. About.com. Archived
from the original on February 13, 2011.
"Nasdaq Level III Quote". Archived from the original on April 13, 2014.
"Nasdaq Trading Schedule". Nasdaq.com. Archived from the original on April 17, 2014.
Retrieved April 20, 2014.
"Definition of 'Nasdaq SmallCap Market', now known as Nasdaq Capital Market".
Investopedia.com. Archived from the original on August 4, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Market Composite'". Investopedia.com. Archived from the
original on September 17, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Select Market Composite'". Investopedia.com. Archived from the
original on October 4, 2013. Retrieved August 25, 2013.
Pinto, Jerald E.; Henry, Elaine; Robinson, Thomas R.; Stowe, John D. (2010). Equity Asset
Valuation. CFA Institute Investment Series. 27 (2 ed.). John Wiley & Sons. p. 6. ISBN
9780470579657. Archived from the original on May 10, 2013. Retrieved March 4, 2013. [...]
NASDAQ-GS stands for 'Nasdaq Global Select Market,' [...]
"Measuring Worth – Measures of worth, inflation rates, saving calculator, relative value, worth
of a dollar, worth of a pound, purchasing power, gold prices, GDP, history of wages, average
wage". measuringworth.com. Archived from the original on October 4, 2015. Retrieved October
2, 2015.
External links
Official Website
vte
Nasdaq, Inc.
vte
Financial markets
vte
Major United States stock market indices
Categories: Stock exchanges in the United StatesElectronic trading platformsPrivate equity
portfolio companiesAmerican companies established in 19711971 establishments in New York
(state)Companies based in New York CityEconomy of New York CityFinancial services
companies established in 1971Financial services companies based in New York City
Navigation menu
Not logged inTalkContributionsCreate accountLog inArticleTalkReadEditView historySearch
Search Wikipedia
Main page
Contents
Featured content
Current events
Random article
Donate to Wikipedia
Wikipedia store
Interaction
Help
About Wikipedia
Community portal
Recent changes
Contact page
Tools
What links here
Related changes
Upload file
Special pages
Permanent link
Page information
Wikidata item
Cite this page
Print/export
Create a book
Download as PDF
Printable version
In other projects
Wikimedia Commons

Languages
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Español
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NASDAQ
From Wikipedia, the free encyclopedia
Jump to navigationJump to search
Nasdaq
Nasdaq logo.svg
Type Stock exchange
Location One Liberty Plaza
165 Broadway, New York City, New York, U.S.
Founded February 4, 1971; 47 years ago
Owner Nasdaq, Inc.
Currency United States Dollar
No. of listings 3,321 (June 2018)[1]
Market cap Increase $10 trillion
Website Business.Nasdaq.com
The Nasdaq Stock Market (/ˈnæzˌdæk/ (About this sound listen), also known simply as Nasdaq)
is an American stock exchange. It is the second-largest stock exchange in the world by market
capitalization, behind only the New York Stock Exchange located in the same city.[2] The
exchange platform is owned by Nasdaq, Inc.,[3] which also owns the Nasdaq Nordic (formerly
known as OMX) and Nasdaq Baltic stock market network and several U.S. stock and options
exchanges

Contents
1 History
1.1 1971–1999
1.2 2000–present
2 Quote availability
3 Trading schedule
4 Market tiers
5 Average annualized growth rate
6 See also
7 References
8 External links
History
1971–1999
"Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated
Quotations.[4] It was founded in 1971 by the National Association of Securities Dealers
(NASD),[5] which divested itself of Nasdaq in a series of sales in 2000 and 2001. The Nasdaq
Stock Market is owned and operated by Nasdaq, Inc., the stock of which was listed on its own
securities exchange on July 2, 2002, under the ticker symbol NDAQ.

Former logo used from 1971 to 2014


The Nasdaq Stock Market began trading on February 8, 1971. It was the world's first electronic
stock market.[5] At first, it was merely a “quotation system” and did not provide a way to
perform electronic trades.[6][not in citation given] The Nasdaq Stock Market helped lower the
spread (the difference between the bid price and the ask price of the stock) but was unpopular
among brokerages which made much of their money on the spread.

The NASDAQ Stock Market eventually assumed the majority of major trades that had been
executed by the over-the-counter (OTC) system of trading, but there are still many securities
traded in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as
"OTC" in media reports[7] and also in the monthly Stock Guides (stock guides and procedures)
issued by Standard & Poor's Corporation.[citation needed]

Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and
volume reporting and automated trading systems. It was also the first stock market in the United
States to trade online, highlighting Nasdaq-traded companies and closing with the declaration
that the Nasdaq Stock Market is "the stock market for the next hundred years". The Nasdaq
Stock Market attracted new growth companies, including Microsoft, Apple, Cisco, Oracle and
Dell, and it helped modernize the IPO.

Its main index is the NASDAQ Composite, which has been published since its inception.
However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, which was
introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100
companies in terms of market capitalization.

In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first
intercontinental linkage of securities markets.[8] The National Association of Securities Dealers
spun off the Nasdaq Stock Market in 2000 to form a publicly traded company.

The NASDAQ Composite index spiked in the late 1990s and then fell sharply as a result of the
dot-com bubble.
2000–present

Studio
On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3227 by April
17,[9] and in the following 30 months fell 78% from its peak.[10]

In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed
national securities exchange.[11]

In 2007, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries,
expanded its global footprint, and changed its name to the NASDAQ OMX Group.[12]

To qualify for listing on the exchange, a company must be registered with the United States
Securities and Exchange Commission (SEC), must have at least three market makers (financial
firms that act as brokers or dealers for specific securities) and must meet minimum requirements
for assets, capital, public shares, and shareholders.
In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Börse,
speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a
counter-bid of their own for NYSE. NASDAQ OMX could be[when?] looking to acquire the
American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE
Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was
valued at $9.45 billion."[13] Late in the month, Nasdaq was reported to be considering asking
either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it
proceeded, an $11–12 billion counterbid.[14]

The European Association of Securities Dealers Automatic Quotation System (EASDAQ) was
founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in
2001 and became NASDAQ Europe. Operations were shut down, however, as a result of the
burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, and is
currently[when?] operating under Börse Berlin.[15]

On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable
Stock Exchanges initiative on the eve of the United Nations Conference on Sustainable
Development (Rio+20).[16]

In November 2016, Nasdaq Chief Operating Officer Adena Friedman was promoted to the role
of CEO, becoming the first woman to run a major exchange in the U.S.[17] In 2016, Nasdaq
earned $272 million in listings-related revenues.[18]

In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price
increases when selling market data.[19][20][21]

Quote availability
Nasdaq quotes are available at three levels:

Level 1 shows the highest bid and lowest ask—inside quote.


Level 2 shows all public quotes of market makers together with information of market dealers
wishing to buy or sell stock and recently executed orders.[22]
Level 3 is used by the market makers and allows them to enter their quotes and execute
orders.[23]
Trading schedule
The Nasdaq Stock Market sessions eastern time are:

4:00 am to 9:30 am premarket session

9:30 am to 4:00 pm normal trading session

4:00 pm to 8:00 pm postmarket session[24]

Market tiers
The Nasdaq Stock Market has three different market tiers:
Capital Market (small cap) is an equity market for companies that have relatively small levels of
market capitalization. Listing requirements for such "small cap" companies are less stringent
than for other Nasdaq markets that list larger companies with significantly higher market
capitalization.[25]
Global Market (mid cap) is made up of stocks that represent the Nasdaq Global Market. The
Global Market consists of 1,450 stocks that meet Nasdaq's strict financial and liquidity
requirements, and corporate governance standards. The Global Market is less exclusive than the
Global Select Market.[26]
Global Select Market (NASDAQ-GS large cap) is a market capitalization-weighted index made
up of US-based and international stocks that represent the Global Select Market Composite. The
Global Select Market consists of 1,200 stocks that meet Nasdaq's strict financial and liquidity
requirements and corporate governance standards. The Global Select Market is more exclusive
than the Global Market. Every October, the Nasdaq Listing Qualifications Department reviews
the Global Market Composite to determine if any of its stocks have become eligible for listing on
the Global Select Market.[27][28]
Average annualized growth rate
As of June 2015, the Nasdaq Stock Market had an average annualized growth rate of 9.24%
since its opening in February 1971. Since the end of the recession in June 2009 however, it has
increased by 18.29% per year.[29]

See also
flag New York City portal
Wikimedia Commons has media related to NASDAQ.
ACT (NASDAQ)
Advanced Computerized Execution System
Directors Desk
Economy of New York City
List of stock exchange mergers in the Americas
List of stock exchanges
List of stock exchanges in the Americas
NASDAQ futures
Nasdaq, Inc.
NASDAQ-100
NASDAQ Financial-100
United States corporate law
References
"Nasdaq Companies". Archived from the original on February 13, 2011. Retrieved June 1, 2018.
"Monthly Reports". World-Exchanges.org. World Federation of Exchanges. Archived from the
original on August 17, 2014. Retrieved June 3, 2015.
"Nasdaq – Business Solutions & Services". Business.nasdaq.com. Archived from the original on
October 20, 2016. Retrieved October 23, 2016.
Frequently Asked Questions. NASDAQ.com. NASDAQ, n.d. Web. December 23, 2001.
Archived February 13, 2011, at WebCite
Terrell, Ellen. "History of the American and Nasdaq Stock Exchanges". LOC.gov. Library of
Congress Business Reference Services. Archived from the original on April 14, 2013. Retrieved
April 27, 2013.
"Nasdaq.com Frequently Asked Questions". Nasdaq.com. Retrieved October 23, 2016.
Gilpin, Kenneth N. (July 3, 1987). "Company News: An Erratic Quarter for Stock Markets".
The New York Times. ISSN 0362-4331. Archived from the original on August 1, 2017.
Retrieved February 1, 2017.
Odekon, Mehmet (March 17, 2015). Booms and Busts: An Encyclopedia of Economic History
from the First Stock Market Crash of 1792 to the Current Global Economic Crisis: An
Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the Current
Global Economic Crisis. Routledge. ISBN 9781317475750. Archived from the original on
August 3, 2017.
"NASDAQ Composite daily index". Archived from the original on November 22, 2010.
Glassman, James K. (February 11, 2015). "3 Lessons for Investors From the Tech Bubble".
Kiplinger's Personal Finance. Archived from the original on April 15, 2017.
Walsh, Michelle. "Nasdaq Stock Market Becomes A National Securities Exchange; Changes
Market Designations". Archived from the original on December 17, 2013.
Lucchetti, Aaron; MacDonald, Alistair (May 26, 2007). "Nasdaq Lands OMX for $3.7 Billion;
Are More Merger Deals on the Way?". Wall Street Journal. ISSN 0099-9660. Archived from the
original on July 31, 2017. Retrieved July 21, 2017.
De la Merced, Michael J., "Nasdaq and ICE Hold Talks Over Potential N.Y.S.E. Bid" Archived
January 20, 2012, at the Wayback Machine., The New York Times Dealbook, February 18,
2011, 12:46 pm. Retrieved February 18, 2011.
Fraser, Michelle E., "Nasdaq May Ask CME or ICE for Help in NYSE Counterbid, WSJ Says"
Archived July 29, 2014, at the Wayback Machine., Bloomberg, February 26, 2011 9:30 AM ET.
Retrieved March 1, 2011.
"Easdaq Makes A Comeback As Equiduct". Archived from the original on February 13, 2011.
"Sustainable Stock Exchanges Initiative: Exchanges listing over 4,600 companies commit to
promoting sustainability". Reuters.com. Reuters. Archived from the original on May 13, 2014.
Retrieved May 13, 2014.
"Nasdaq's New CEO Attributes Her Success to an 'Eclectic' Career Path". Fortune. November
15, 2016. Archived from the original on November 17, 2016. Retrieved November 17, 2016.
Osipovich, Alexander (October 26, 2017). "Startup Exchange Cleared to Take on NYSE,
Nasdaq for Stock Listings". Wall Street Journal. New York City, United States. Archived from
the original on October 26, 2017. Retrieved October 26, 2017.
Alexander Osipovich; Dave Michaels; Gretchen Morgenson. "SEC Ruling Takes Aim at Stock-
Exchange Profits". Wall Street Journal. Retrieved 18 October 2018.
"SEC rules NYSE and Nasdaq did not justify data fee increases". Financial Times. Retrieved 18
October 2018.
Michaels, Dave (2018-10-19). "NYSE, Nasdaq Take It on the Chin in Washington". Wall Street
Journal. ISSN 0099-9660. Retrieved 2018-10-19.
"Order Book, Level 2 Market Data, and Depth of Market". Daytrading. About.com. Archived
from the original on February 13, 2011.
"Nasdaq Level III Quote". Archived from the original on April 13, 2014.
"Nasdaq Trading Schedule". Nasdaq.com. Archived from the original on April 17, 2014.
Retrieved April 20, 2014.
"Definition of 'Nasdaq SmallCap Market', now known as Nasdaq Capital Market".
Investopedia.com. Archived from the original on August 4, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Market Composite'". Investopedia.com. Archived from the
original on September 17, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Select Market Composite'". Investopedia.com. Archived from the
original on October 4, 2013. Retrieved August 25, 2013.
Pinto, Jerald E.; Henry, Elaine; Robinson, Thomas R.; Stowe, John D. (2010). Equity Asset
Valuation. CFA Institute Investment Series. 27 (2 ed.). John Wiley & Sons. p. 6. ISBN
9780470579657. Archived from the original on May 10, 2013. Retrieved March 4, 2013. [...]
NASDAQ-GS stands for 'Nasdaq Global Select Market,' [...]
"Measuring Worth – Measures of worth, inflation rates, saving calculator, relative value, worth
of a dollar, worth of a pound, purchasing power, gold prices, GDP, history of wages, average
wage". measuringworth.com. Archived from the original on October 4, 2015. Retrieved October
2, 2015.
External links
Official Website
vte
Nasdaq, Inc.
vte
Financial markets
vte
Major United States stock market indices
Categories: Stock exchanges in the United StatesElectronic trading platformsPrivate equity
portfolio companiesAmerican companies established in 19711971 establishments in New York
(state)Companies based in New York CityEconomy of New York CityFinancial services
companies established in 1971Financial services companies based in New York City
Navigation menu
Not logged inTalkContributionsCreate accountLog inArticleTalkReadEditView historySearch

Search Wikipedia
Main page
Contents
Featured content
Current events
Random article
Donate to Wikipedia
Wikipedia store
Interaction
Help
About Wikipedia
Community portal
Recent changes
Contact page
Tools
What links here
Related changes
Upload file
Special pages
Permanent link
Page information
Wikidata item
Cite this page
Print/export
Create a book
Download as PDF
Printable version
In other projects
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Languages
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Español
Français
한국어
Italiano
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Tiếng Việt
中文

NASDAQ
From Wikipedia, the free encyclopedia
Jump to navigationJump to search
Nasdaq

Type Stock exchange

Location One Liberty Plaza


165 Broadway, New York City, New York, U.S.

Founded February 4, 1971; 47 years ago


Owner Nasdaq, Inc.

Currency United States Dollar

No. of listings 3,321 (June 2018)[1]

Market cap
$10 trillion

Website Business.Nasdaq.com
The Nasdaq Stock Market (/ˈnæzˌdæk/ ( listen), also known simply as Nasdaq) is an American
stock exchange. It is the second-largest stock exchange in the world by market capitalization,
behind only the New York Stock Exchange located in the same city.[2] The exchange platform is
owned by Nasdaq, Inc.,[3] which also owns the Nasdaq Nordic (formerly known as OMX) and
Nasdaq Baltic stock market network and several U.S. stock and options exchanges
Contents
• 1History
o 1.11971–1999
o 1.22000–present
• 2Quote availability
• 3Trading schedule
• 4Market tiers
• 5Average annualized growth rate
• 6See also
• 7References
• 8External links
History[edit]
1971–1999[edit]
"Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated
Quotations.[4] It was founded in 1971 by the National Association of Securities Dealers
(NASD),[5] which divested itself of Nasdaq in a series of sales in 2000 and 2001. The Nasdaq
Stock Market is owned and operated by Nasdaq, Inc., the stock of which was listed on its own
securities exchange on July 2, 2002, under the ticker symbol NDAQ.

Former logo used from 1971 to 2014


The Nasdaq Stock Market began trading on February 8, 1971. It was the world's first electronic
stock market.[5] At first, it was merely a “quotation system” and did not provide a way to
perform electronic trades.[6][not in citation given]The Nasdaq Stock Market helped lower the
spread (the difference between the bid price and the ask price of the stock) but was unpopular
among brokerages which made much of their money on the spread.
The NASDAQ Stock Market eventually assumed the majority of major trades that had been
executed by the over-the-counter (OTC) system of trading, but there are still many securities
traded in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as
"OTC" in media reports[7] and also in the monthly Stock Guides (stock guides and procedures)
issued by Standard & Poor's Corporation.[citation needed]
Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and
volume reporting and automated trading systems. It was also the first stock market in the United
States to trade online, highlighting Nasdaq-traded companies and closing with the declaration
that the Nasdaq Stock Market is "the stock market for the next hundred years". The Nasdaq
Stock Market attracted new growth companies, including Microsoft, Apple, Cisco, Oracle and
Dell, and it helped modernize the IPO.
Its main index is the NASDAQ Composite, which has been published since its inception.
However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, which was
introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100
companies in terms of market capitalization.
In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first
intercontinental linkage of securities markets.[8] The National Association of Securities Dealers
spun off the Nasdaq Stock Market in 2000 to form a publicly traded company.

The NASDAQ Composite index spiked in the late 1990s and then fell sharply as a result of the
dot-com bubble.
2000–present[edit]

Studio
On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3227 by April
17,[9] and in the following 30 months fell 78% from its peak.[10]
In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed
national securities exchange.[11]
In 2007, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries,
expanded its global footprint, and changed its name to the NASDAQ OMX Group.[12]
To qualify for listing on the exchange, a company must be registered with the United States
Securities and Exchange Commission (SEC), must have at least three market makers (financial
firms that act as brokers or dealers for specific securities) and must meet minimum requirements
for assets, capital, public shares, and shareholders.
In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Börse,
speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a
counter-bid of their own for NYSE. NASDAQ OMX could be[when?] looking to acquire the
American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE
Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was
valued at $9.45 billion."[13] Late in the month, Nasdaq was reported to be considering asking
either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it
proceeded, an $11–12 billion counterbid.[14]
The European Association of Securities Dealers Automatic Quotation System (EASDAQ) was
founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in
2001 and became NASDAQ Europe. Operations were shut down, however, as a result of the
burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, and is
currently[when?] operating under Börse Berlin.[15]
On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable
Stock Exchanges initiative on the eve of the United Nations Conference on Sustainable
Development (Rio+20).[16]
In November 2016, Nasdaq Chief Operating Officer Adena Friedman was promoted to the role
of CEO, becoming the first woman to run a major exchange in the U.S.[17] In 2016, Nasdaq
earned $272 million in listings-related revenues.[18]
In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price
increases when selling market data.[19][20][21]
Quote availability[edit]
Nasdaq quotes are available at three levels:
• Level 1 shows the highest bid and lowest ask—inside quote.
• Level 2 shows all public quotes of market makers together with information of market
dealers wishing to buy or sell stock and recently executed orders.[22]
• Level 3 is used by the market makers and allows them to enter their quotes and execute
orders.[23]
Trading schedule[edit]
The Nasdaq Stock Market sessions eastern time are:
4:00 am to 9:30 am premarket session
9:30 am to 4:00 pm normal trading session
4:00 pm to 8:00 pm postmarket session[24]
Market tiers[edit]
The Nasdaq Stock Market has three different market tiers:
• Capital Market (small cap) is an equity market for companies that have relatively small
levels of market capitalization. Listing requirements for such "small cap" companies are less
stringent than for other Nasdaq markets that list larger companies with significantly higher
market capitalization.[25]
• Global Market (mid cap) is made up of stocks that represent the Nasdaq Global Market.
The Global Market consists of 1,450 stocks that meet Nasdaq's strict financial and liquidity
requirements, and corporate governance standards. The Global Market is less exclusive than the
Global Select Market.[26]
• Global Select Market (NASDAQ-GS large cap) is a market capitalization-weighted index
made up of US-based and international stocks that represent the Global Select Market
Composite. The Global Select Market consists of 1,200 stocks that meet Nasdaq's strict financial
and liquidity requirements and corporate governance standards. The Global Select Market is
more exclusive than the Global Market. Every October, the Nasdaq Listing Qualifications
Department reviews the Global Market Composite to determine if any of its stocks have become
eligible for listing on the Global Select Market.[27][28]
Average annualized growth rate[edit]
As of June 2015, the Nasdaq Stock Market had an average annualized growth rate of 9.24%
since its opening in February 1971. Since the end of the recession in June 2009 however, it has
increased by 18.29% per year.[29]
See also[edit]
• New York City portal
Wikimedia Commons has media related to NASDAQ.

• ACT (NASDAQ)
• Advanced Computerized Execution System
• Directors Desk
• Economy of New York City
• List of stock exchange mergers in the Americas
• List of stock exchanges
• List of stock exchanges in the Americas
• NASDAQ futures
• Nasdaq, Inc.
• NASDAQ-100
• NASDAQ Financial-100
• United States corporate law
References[edit]
1. Jump up^ "Nasdaq Companies". Archived from the original on February 13, 2011.
Retrieved June 1, 2018.
2. Jump up^ "Monthly Reports". World-Exchanges.org. World Federation of Exchanges.
Archived from the original on August 17, 2014. Retrieved June 3, 2015.
3. Jump up^ "Nasdaq – Business Solutions & Services". Business.nasdaq.com. Archived
from the original on October 20, 2016. Retrieved October 23,2016.
4. Jump up^ Frequently Asked Questions. NASDAQ.com. NASDAQ, n.d. Web. December
23, 2001. Archived February 13, 2011, at WebCite
5. ^ Jump up to:a b Terrell, Ellen. "History of the American and Nasdaq Stock Exchanges".
LOC.gov. Library of Congress Business Reference Services. Archived from the original on April
14, 2013. Retrieved April 27, 2013.
6. Jump up^ "Nasdaq.com Frequently Asked Questions". Nasdaq.com. Retrieved October
23, 2016.
7. Jump up^ Gilpin, Kenneth N. (July 3, 1987). "Company News: An Erratic Quarter for
Stock Markets". The New York Times. ISSN 0362-4331. Archived from the original on August
1, 2017. Retrieved February 1, 2017.
8. Jump up^ Odekon, Mehmet (March 17, 2015). Booms and Busts: An Encyclopedia of
Economic History from the First Stock Market Crash of 1792 to the Current Global Economic
Crisis: An Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the
Current Global Economic Crisis. Routledge. ISBN 9781317475750. Archived from the original
on August 3, 2017.
9. Jump up^ "NASDAQ Composite daily index". Archived from the original on November
22, 2010.
10. Jump up^ Glassman, James K. (February 11, 2015). "3 Lessons for Investors From the
Tech Bubble". Kiplinger's Personal Finance. Archived from the original on April 15, 2017.
11. Jump up^ Walsh, Michelle. "Nasdaq Stock Market Becomes A National Securities
Exchange; Changes Market Designations". Archived from the original on December 17, 2013.
12. Jump up^ Lucchetti, Aaron; MacDonald, Alistair (May 26, 2007). "Nasdaq Lands OMX
for $3.7 Billion; Are More Merger Deals on the Way?". Wall Street Journal. ISSN 0099-9660.
Archived from the original on July 31, 2017. Retrieved July 21, 2017.
13. Jump up^ De la Merced, Michael J., "Nasdaq and ICE Hold Talks Over Potential
N.Y.S.E. Bid" Archived January 20, 2012, at the Wayback Machine., The New York Times
Dealbook, February 18, 2011, 12:46 pm. Retrieved February 18, 2011.
14. Jump up^ Fraser, Michelle E., "Nasdaq May Ask CME or ICE for Help in NYSE
Counterbid, WSJ Says" Archived July 29, 2014, at the Wayback Machine., Bloomberg, February
26, 2011 9:30 AM ET. Retrieved March 1, 2011.
15. Jump up^ "Easdaq Makes A Comeback As Equiduct". Archived from the original on
February 13, 2011.
16. Jump up^ "Sustainable Stock Exchanges Initiative: Exchanges listing over 4,600
companies commit to promoting sustainability". Reuters.com. Reuters. Archived from the
original on May 13, 2014. Retrieved May 13, 2014.
17. Jump up^ "Nasdaq's New CEO Attributes Her Success to an 'Eclectic' Career Path".
Fortune. November 15, 2016. Archived from the original on November 17, 2016. Retrieved
November 17, 2016.
18. Jump up^ Osipovich, Alexander (October 26, 2017). "Startup Exchange Cleared to Take
on NYSE, Nasdaq for Stock Listings". Wall Street Journal. New York City, United States.
Archived from the original on October 26, 2017. Retrieved October 26, 2017.
19. Jump up^ Alexander Osipovich; Dave Michaels; Gretchen Morgenson. "SEC Ruling
Takes Aim at Stock-Exchange Profits". Wall Street Journal. Retrieved 18 October 2018.
20. Jump up^ "SEC rules NYSE and Nasdaq did not justify data fee increases". Financial
Times. Retrieved 18 October 2018.
21. Jump up^ Michaels, Dave (2018-10-19). "NYSE, Nasdaq Take It on the Chin in
Washington". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-10-19.
22. Jump up^ "Order Book, Level 2 Market Data, and Depth of Market". Daytrading.
About.com. Archived from the original on February 13, 2011.
23. Jump up^ "Nasdaq Level III Quote". Archived from the original on April 13, 2014.
24. Jump up^ "Nasdaq Trading Schedule". Nasdaq.com. Archived from the original on April
17, 2014. Retrieved April 20, 2014.
25. Jump up^ "Definition of 'Nasdaq SmallCap Market', now known as Nasdaq Capital
Market". Investopedia.com. Archived from the original on August 4, 2013. Retrieved August 25,
2013.
26. Jump up^ "Definition of 'Nasdaq Global Market Composite'". Investopedia.com.
Archived from the original on September 17, 2013. Retrieved August 25,2013.
27. Jump up^ "Definition of 'Nasdaq Global Select Market Composite'". Investopedia.com.
Archived from the original on October 4, 2013. Retrieved August 25, 2013.
28. Jump up^ Pinto, Jerald E.; Henry, Elaine; Robinson, Thomas R.; Stowe, John D. (2010).
Equity Asset Valuation. CFA Institute Investment Series. 27 (2 ed.). John Wiley & Sons. p. 6.
ISBN 9780470579657. Archived from the original on May 10, 2013. Retrieved March 4, 2013.
[...] NASDAQ-GS stands for 'Nasdaq Global Select Market,' [...]
29. Jump up^ "Measuring Worth – Measures of worth, inflation rates, saving calculator,
relative value, worth of a dollar, worth of a pound, purchasing power, gold prices, GDP, history
of wages, average wage". measuringworth.com. Archived from the original on October 4, 2015.
Retrieved October 2, 2015.
External links[edit]
• Official Website
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• v
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• e
Nasdaq, Inc.

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• e
Financial markets

show
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• t
• e
Major United States stock market indices

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NASDAQ
From Wikipedia, the free encyclopedia
Jump to navigationJump to search
Nasdaq
Nasdaq logo.svg
Type Stock exchange
Location One Liberty Plaza
165 Broadway, New York City, New York, U.S.
Founded February 4, 1971; 47 years ago
Owner Nasdaq, Inc.
Currency United States Dollar
No. of listings 3,321 (June 2018)[1]
Market cap Increase $10 trillion
Website Business.Nasdaq.com
The Nasdaq Stock Market (/ˈnæzˌdæk/ (About this sound listen), also known simply as Nasdaq)
is an American stock exchange. It is the second-largest stock exchange in the world by market
capitalization, behind only the New York Stock Exchange located in the same city.[2] The
exchange platform is owned by Nasdaq, Inc.,[3] which also owns the Nasdaq Nordic (formerly
known as OMX) and Nasdaq Baltic stock market network and several U.S. stock and options
exchanges

Contents
1 History
1.1 1971–1999
1.2 2000–present
2 Quote availability
3 Trading schedule
4 Market tiers
5 Average annualized growth rate
6 See also
7 References
8 External links
History
1971–1999
"Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated
Quotations.[4] It was founded in 1971 by the National Association of Securities Dealers
(NASD),[5] which divested itself of Nasdaq in a series of sales in 2000 and 2001. The Nasdaq
Stock Market is owned and operated by Nasdaq, Inc., the stock of which was listed on its own
securities exchange on July 2, 2002, under the ticker symbol NDAQ.

Former logo used from 1971 to 2014


The Nasdaq Stock Market began trading on February 8, 1971. It was the world's first electronic
stock market.[5] At first, it was merely a “quotation system” and did not provide a way to
perform electronic trades.[6][not in citation given] The Nasdaq Stock Market helped lower the
spread (the difference between the bid price and the ask price of the stock) but was unpopular
among brokerages which made much of their money on the spread.
The NASDAQ Stock Market eventually assumed the majority of major trades that had been
executed by the over-the-counter (OTC) system of trading, but there are still many securities
traded in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as
"OTC" in media reports[7] and also in the monthly Stock Guides (stock guides and procedures)
issued by Standard & Poor's Corporation.[citation needed]

Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and
volume reporting and automated trading systems. It was also the first stock market in the United
States to trade online, highlighting Nasdaq-traded companies and closing with the declaration
that the Nasdaq Stock Market is "the stock market for the next hundred years". The Nasdaq
Stock Market attracted new growth companies, including Microsoft, Apple, Cisco, Oracle and
Dell, and it helped modernize the IPO.

Its main index is the NASDAQ Composite, which has been published since its inception.
However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, which was
introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100
companies in terms of market capitalization.

In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first
intercontinental linkage of securities markets.[8] The National Association of Securities Dealers
spun off the Nasdaq Stock Market in 2000 to form a publicly traded company.

The NASDAQ Composite index spiked in the late 1990s and then fell sharply as a result of the
dot-com bubble.
2000–present

Studio
On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3227 by April
17,[9] and in the following 30 months fell 78% from its peak.[10]

In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed
national securities exchange.[11]

In 2007, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries,
expanded its global footprint, and changed its name to the NASDAQ OMX Group.[12]

To qualify for listing on the exchange, a company must be registered with the United States
Securities and Exchange Commission (SEC), must have at least three market makers (financial
firms that act as brokers or dealers for specific securities) and must meet minimum requirements
for assets, capital, public shares, and shareholders.

In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Börse,
speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a
counter-bid of their own for NYSE. NASDAQ OMX could be[when?] looking to acquire the
American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE
Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was
valued at $9.45 billion."[13] Late in the month, Nasdaq was reported to be considering asking
either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it
proceeded, an $11–12 billion counterbid.[14]

The European Association of Securities Dealers Automatic Quotation System (EASDAQ) was
founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in
2001 and became NASDAQ Europe. Operations were shut down, however, as a result of the
burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, and is
currently[when?] operating under Börse Berlin.[15]

On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable
Stock Exchanges initiative on the eve of the United Nations Conference on Sustainable
Development (Rio+20).[16]

In November 2016, Nasdaq Chief Operating Officer Adena Friedman was promoted to the role
of CEO, becoming the first woman to run a major exchange in the U.S.[17] In 2016, Nasdaq
earned $272 million in listings-related revenues.[18]

In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price
increases when selling market data.[19][20][21]

Quote availability
Nasdaq quotes are available at three levels:

Level 1 shows the highest bid and lowest ask—inside quote.


Level 2 shows all public quotes of market makers together with information of market dealers
wishing to buy or sell stock and recently executed orders.[22]
Level 3 is used by the market makers and allows them to enter their quotes and execute
orders.[23]
Trading schedule
The Nasdaq Stock Market sessions eastern time are:

4:00 am to 9:30 am premarket session

9:30 am to 4:00 pm normal trading session

4:00 pm to 8:00 pm postmarket session[24]

Market tiers
The Nasdaq Stock Market has three different market tiers:

Capital Market (small cap) is an equity market for companies that have relatively small levels of
market capitalization. Listing requirements for such "small cap" companies are less stringent
than for other Nasdaq markets that list larger companies with significantly higher market
capitalization.[25]
Global Market (mid cap) is made up of stocks that represent the Nasdaq Global Market. The
Global Market consists of 1,450 stocks that meet Nasdaq's strict financial and liquidity
requirements, and corporate governance standards. The Global Market is less exclusive than the
Global Select Market.[26]
Global Select Market (NASDAQ-GS large cap) is a market capitalization-weighted index made
up of US-based and international stocks that represent the Global Select Market Composite. The
Global Select Market consists of 1,200 stocks that meet Nasdaq's strict financial and liquidity
requirements and corporate governance standards. The Global Select Market is more exclusive
than the Global Market. Every October, the Nasdaq Listing Qualifications Department reviews
the Global Market Composite to determine if any of its stocks have become eligible for listing on
the Global Select Market.[27][28]
Average annualized growth rate
As of June 2015, the Nasdaq Stock Market had an average annualized growth rate of 9.24%
since its opening in February 1971. Since the end of the recession in June 2009 however, it has
increased by 18.29% per year.[29]

See also
flag New York City portal
Wikimedia Commons has media related to NASDAQ.
ACT (NASDAQ)
Advanced Computerized Execution System
Directors Desk
Economy of New York City
List of stock exchange mergers in the Americas
List of stock exchanges
List of stock exchanges in the Americas
NASDAQ futures
Nasdaq, Inc.
NASDAQ-100
NASDAQ Financial-100
United States corporate law
References
"Nasdaq Companies". Archived from the original on February 13, 2011. Retrieved June 1, 2018.
"Monthly Reports". World-Exchanges.org. World Federation of Exchanges. Archived from the
original on August 17, 2014. Retrieved June 3, 2015.
"Nasdaq – Business Solutions & Services". Business.nasdaq.com. Archived from the original on
October 20, 2016. Retrieved October 23, 2016.
Frequently Asked Questions. NASDAQ.com. NASDAQ, n.d. Web. December 23, 2001.
Archived February 13, 2011, at WebCite
Terrell, Ellen. "History of the American and Nasdaq Stock Exchanges". LOC.gov. Library of
Congress Business Reference Services. Archived from the original on April 14, 2013. Retrieved
April 27, 2013.
"Nasdaq.com Frequently Asked Questions". Nasdaq.com. Retrieved October 23, 2016.
Gilpin, Kenneth N. (July 3, 1987). "Company News: An Erratic Quarter for Stock Markets".
The New York Times. ISSN 0362-4331. Archived from the original on August 1, 2017.
Retrieved February 1, 2017.
Odekon, Mehmet (March 17, 2015). Booms and Busts: An Encyclopedia of Economic History
from the First Stock Market Crash of 1792 to the Current Global Economic Crisis: An
Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the Current
Global Economic Crisis. Routledge. ISBN 9781317475750. Archived from the original on
August 3, 2017.
"NASDAQ Composite daily index". Archived from the original on November 22, 2010.
Glassman, James K. (February 11, 2015). "3 Lessons for Investors From the Tech Bubble".
Kiplinger's Personal Finance. Archived from the original on April 15, 2017.
Walsh, Michelle. "Nasdaq Stock Market Becomes A National Securities Exchange; Changes
Market Designations". Archived from the original on December 17, 2013.
Lucchetti, Aaron; MacDonald, Alistair (May 26, 2007). "Nasdaq Lands OMX for $3.7 Billion;
Are More Merger Deals on the Way?". Wall Street Journal. ISSN 0099-9660. Archived from the
original on July 31, 2017. Retrieved July 21, 2017.
De la Merced, Michael J., "Nasdaq and ICE Hold Talks Over Potential N.Y.S.E. Bid" Archived
January 20, 2012, at the Wayback Machine., The New York Times Dealbook, February 18,
2011, 12:46 pm. Retrieved February 18, 2011.
Fraser, Michelle E., "Nasdaq May Ask CME or ICE for Help in NYSE Counterbid, WSJ Says"
Archived July 29, 2014, at the Wayback Machine., Bloomberg, February 26, 2011 9:30 AM ET.
Retrieved March 1, 2011.
"Easdaq Makes A Comeback As Equiduct". Archived from the original on February 13, 2011.
"Sustainable Stock Exchanges Initiative: Exchanges listing over 4,600 companies commit to
promoting sustainability". Reuters.com. Reuters. Archived from the original on May 13, 2014.
Retrieved May 13, 2014.
"Nasdaq's New CEO Attributes Her Success to an 'Eclectic' Career Path". Fortune. November
15, 2016. Archived from the original on November 17, 2016. Retrieved November 17, 2016.
Osipovich, Alexander (October 26, 2017). "Startup Exchange Cleared to Take on NYSE,
Nasdaq for Stock Listings". Wall Street Journal. New York City, United States. Archived from
the original on October 26, 2017. Retrieved October 26, 2017.
Alexander Osipovich; Dave Michaels; Gretchen Morgenson. "SEC Ruling Takes Aim at Stock-
Exchange Profits". Wall Street Journal. Retrieved 18 October 2018.
"SEC rules NYSE and Nasdaq did not justify data fee increases". Financial Times. Retrieved 18
October 2018.
Michaels, Dave (2018-10-19). "NYSE, Nasdaq Take It on the Chin in Washington". Wall Street
Journal. ISSN 0099-9660. Retrieved 2018-10-19.
"Order Book, Level 2 Market Data, and Depth of Market". Daytrading. About.com. Archived
from the original on February 13, 2011.
"Nasdaq Level III Quote". Archived from the original on April 13, 2014.
"Nasdaq Trading Schedule". Nasdaq.com. Archived from the original on April 17, 2014.
Retrieved April 20, 2014.
"Definition of 'Nasdaq SmallCap Market', now known as Nasdaq Capital Market".
Investopedia.com. Archived from the original on August 4, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Market Composite'". Investopedia.com. Archived from the
original on September 17, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Select Market Composite'". Investopedia.com. Archived from the
original on October 4, 2013. Retrieved August 25, 2013.
Pinto, Jerald E.; Henry, Elaine; Robinson, Thomas R.; Stowe, John D. (2010). Equity Asset
Valuation. CFA Institute Investment Series. 27 (2 ed.). John Wiley & Sons. p. 6. ISBN
9780470579657. Archived from the original on May 10, 2013. Retrieved March 4, 2013. [...]
NASDAQ-GS stands for 'Nasdaq Global Select Market,' [...]
"Measuring Worth – Measures of worth, inflation rates, saving calculator, relative value, worth
of a dollar, worth of a pound, purchasing power, gold prices, GDP, history of wages, average
wage". measuringworth.com. Archived from the original on October 4, 2015. Retrieved October
2, 2015.
External links
Official Website
vte
Nasdaq, Inc.
vte
Financial markets
vte
Major United States stock market indices
Categories: Stock exchanges in the United StatesElectronic trading platformsPrivate equity
portfolio companiesAmerican companies established in 19711971 establishments in New York
(state)Companies based in New York CityEconomy of New York CityFinancial services
companies established in 1971Financial services companies based in New York City
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NASDAQ
From Wikipedia, the free encyclopedia
Jump to navigationJump to search
Nasdaq

Type Stock exchange

Location One Liberty Plaza


165 Broadway, New York City, New York, U.S.

Founded February 4, 1971; 47 years ago


Owner Nasdaq, Inc.

Currency United States Dollar

No. of listings 3,321 (June 2018)[1]

Market cap
$10 trillion

Website Business.Nasdaq.com

The Nasdaq Stock Market (/ˈnæzˌdæk/ ( listen), also known simply as Nasdaq) is an American
stock exchange. It is the second-largest stock exchange in the world by market capitalization,
behind only the New York Stock Exchange located in the same city.[2] The exchange platform is
owned by Nasdaq, Inc.,[3] which also owns the Nasdaq Nordic (formerly known as OMX) and
Nasdaq Baltic stock market network and several U.S. stock and options exchanges
Contents
• 1History
o 1.11971–1999
o 1.22000–present
• 2Quote availability
• 3Trading schedule
• 4Market tiers
• 5Average annualized growth rate
• 6See also
• 7References
• 8External links
History[edit]
1971–1999[edit]
"Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated
Quotations.[4] It was founded in 1971 by the National Association of Securities Dealers
(NASD),[5] which divested itself of Nasdaq in a series of sales in 2000 and 2001. The Nasdaq
Stock Market is owned and operated by Nasdaq, Inc., the stock of which was listed on its own
securities exchange on July 2, 2002, under the ticker symbol NDAQ.

Former logo used from 1971 to 2014


The Nasdaq Stock Market began trading on February 8, 1971. It was the world's first electronic
stock market.[5] At first, it was merely a “quotation system” and did not provide a way to
perform electronic trades.[6][not in citation given]The Nasdaq Stock Market helped lower the
spread (the difference between the bid price and the ask price of the stock) but was unpopular
among brokerages which made much of their money on the spread.
The NASDAQ Stock Market eventually assumed the majority of major trades that had been
executed by the over-the-counter (OTC) system of trading, but there are still many securities
traded in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as
"OTC" in media reports[7] and also in the monthly Stock Guides (stock guides and procedures)
issued by Standard & Poor's Corporation.[citation needed]
Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and
volume reporting and automated trading systems. It was also the first stock market in the United
States to trade online, highlighting Nasdaq-traded companies and closing with the declaration
that the Nasdaq Stock Market is "the stock market for the next hundred years". The Nasdaq
Stock Market attracted new growth companies, including Microsoft, Apple, Cisco, Oracle and
Dell, and it helped modernize the IPO.
Its main index is the NASDAQ Composite, which has been published since its inception.
However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, which was
introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100
companies in terms of market capitalization.
In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first
intercontinental linkage of securities markets.[8] The National Association of Securities Dealers
spun off the Nasdaq Stock Market in 2000 to form a publicly traded company.
The NASDAQ Composite index spiked in the late 1990s and then fell sharply as a result of the
dot-com bubble.
2000–present[edit]

Studio
On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3227 by April
17,[9] and in the following 30 months fell 78% from its peak.[10]
In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed
national securities exchange.[11]
In 2007, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries,
expanded its global footprint, and changed its name to the NASDAQ OMX Group.[12]
To qualify for listing on the exchange, a company must be registered with the United States
Securities and Exchange Commission (SEC), must have at least three market makers (financial
firms that act as brokers or dealers for specific securities) and must meet minimum requirements
for assets, capital, public shares, and shareholders.
In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Börse,
speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a
counter-bid of their own for NYSE. NASDAQ OMX could be[when?] looking to acquire the
American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE
Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was
valued at $9.45 billion."[13] Late in the month, Nasdaq was reported to be considering asking
either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it
proceeded, an $11–12 billion counterbid.[14]
The European Association of Securities Dealers Automatic Quotation System (EASDAQ) was
founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in
2001 and became NASDAQ Europe. Operations were shut down, however, as a result of the
burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, and is
currently[when?] operating under Börse Berlin.[15]
On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable
Stock Exchanges initiative on the eve of the United Nations Conference on Sustainable
Development (Rio+20).[16]
In November 2016, Nasdaq Chief Operating Officer Adena Friedman was promoted to the role
of CEO, becoming the first woman to run a major exchange in the U.S.[17] In 2016, Nasdaq
earned $272 million in listings-related revenues.[18]
In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price
increases when selling market data.[19][20][21]
Quote availability[edit]
Nasdaq quotes are available at three levels:
• Level 1 shows the highest bid and lowest ask—inside quote.
• Level 2 shows all public quotes of market makers together with information of market
dealers wishing to buy or sell stock and recently executed orders.[22]
• Level 3 is used by the market makers and allows them to enter their quotes and execute
orders.[23]
Trading schedule[edit]
The Nasdaq Stock Market sessions eastern time are:
4:00 am to 9:30 am premarket session
9:30 am to 4:00 pm normal trading session
4:00 pm to 8:00 pm postmarket session[24]
Market tiers[edit]
The Nasdaq Stock Market has three different market tiers:
• Capital Market (small cap) is an equity market for companies that have relatively small
levels of market capitalization. Listing requirements for such "small cap" companies are less
stringent than for other Nasdaq markets that list larger companies with significantly higher
market capitalization.[25]
• Global Market (mid cap) is made up of stocks that represent the Nasdaq Global Market.
The Global Market consists of 1,450 stocks that meet Nasdaq's strict financial and liquidity
requirements, and corporate governance standards. The Global Market is less exclusive than the
Global Select Market.[26]
• Global Select Market (NASDAQ-GS large cap) is a market capitalization-weighted index
made up of US-based and international stocks that represent the Global Select Market
Composite. The Global Select Market consists of 1,200 stocks that meet Nasdaq's strict financial
and liquidity requirements and corporate governance standards. The Global Select Market is
more exclusive than the Global Market. Every October, the Nasdaq Listing Qualifications
Department reviews the Global Market Composite to determine if any of its stocks have become
eligible for listing on the Global Select Market.[27][28]
Average annualized growth rate[edit]
As of June 2015, the Nasdaq Stock Market had an average annualized growth rate of 9.24%
since its opening in February 1971. Since the end of the recession in June 2009 however, it has
increased by 18.29% per year.[29]
See also[edit]
• New York City portal
Wikimedia Commons has media related to NASDAQ.

• ACT (NASDAQ)
• Advanced Computerized Execution System
• Directors Desk
• Economy of New York City
• List of stock exchange mergers in the Americas
• List of stock exchanges
• List of stock exchanges in the Americas
• NASDAQ futures
• Nasdaq, Inc.
• NASDAQ-100
• NASDAQ Financial-100
• United States corporate law
References[edit]
1. Jump up^ "Nasdaq Companies". Archived from the original on February 13, 2011.
Retrieved June 1, 2018.
2. Jump up^ "Monthly Reports". World-Exchanges.org. World Federation of Exchanges.
Archived from the original on August 17, 2014. Retrieved June 3, 2015.
3. Jump up^ "Nasdaq – Business Solutions & Services". Business.nasdaq.com. Archived
from the original on October 20, 2016. Retrieved October 23,2016.
4. Jump up^ Frequently Asked Questions. NASDAQ.com. NASDAQ, n.d. Web. December
23, 2001. Archived February 13, 2011, at WebCite
5. ^ Jump up to:a b Terrell, Ellen. "History of the American and Nasdaq Stock Exchanges".
LOC.gov. Library of Congress Business Reference Services. Archived from the original on April
14, 2013. Retrieved April 27, 2013.
6. Jump up^ "Nasdaq.com Frequently Asked Questions". Nasdaq.com. Retrieved October
23, 2016.
7. Jump up^ Gilpin, Kenneth N. (July 3, 1987). "Company News: An Erratic Quarter for
Stock Markets". The New York Times. ISSN 0362-4331. Archived from the original on August
1, 2017. Retrieved February 1, 2017.
8. Jump up^ Odekon, Mehmet (March 17, 2015). Booms and Busts: An Encyclopedia of
Economic History from the First Stock Market Crash of 1792 to the Current Global Economic
Crisis: An Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the
Current Global Economic Crisis. Routledge. ISBN 9781317475750. Archived from the original
on August 3, 2017.
9. Jump up^ "NASDAQ Composite daily index". Archived from the original on November
22, 2010.
10. Jump up^ Glassman, James K. (February 11, 2015). "3 Lessons for Investors From the
Tech Bubble". Kiplinger's Personal Finance. Archived from the original on April 15, 2017.
11. Jump up^ Walsh, Michelle. "Nasdaq Stock Market Becomes A National Securities
Exchange; Changes Market Designations". Archived from the original on December 17, 2013.
12. Jump up^ Lucchetti, Aaron; MacDonald, Alistair (May 26, 2007). "Nasdaq Lands OMX
for $3.7 Billion; Are More Merger Deals on the Way?". Wall Street Journal. ISSN 0099-9660.
Archived from the original on July 31, 2017. Retrieved July 21, 2017.
13. Jump up^ De la Merced, Michael J., "Nasdaq and ICE Hold Talks Over Potential
N.Y.S.E. Bid" Archived January 20, 2012, at the Wayback Machine., The New York Times
Dealbook, February 18, 2011, 12:46 pm. Retrieved February 18, 2011.
14. Jump up^ Fraser, Michelle E., "Nasdaq May Ask CME or ICE for Help in NYSE
Counterbid, WSJ Says" Archived July 29, 2014, at the Wayback Machine., Bloomberg, February
26, 2011 9:30 AM ET. Retrieved March 1, 2011.
15. Jump up^ "Easdaq Makes A Comeback As Equiduct". Archived from the original on
February 13, 2011.
16. Jump up^ "Sustainable Stock Exchanges Initiative: Exchanges listing over 4,600
companies commit to promoting sustainability". Reuters.com. Reuters. Archived from the
original on May 13, 2014. Retrieved May 13, 2014.
17. Jump up^ "Nasdaq's New CEO Attributes Her Success to an 'Eclectic' Career Path".
Fortune. November 15, 2016. Archived from the original on November 17, 2016. Retrieved
November 17, 2016.
18. Jump up^ Osipovich, Alexander (October 26, 2017). "Startup Exchange Cleared to Take
on NYSE, Nasdaq for Stock Listings". Wall Street Journal. New York City, United States.
Archived from the original on October 26, 2017. Retrieved October 26, 2017.
19. Jump up^ Alexander Osipovich; Dave Michaels; Gretchen Morgenson. "SEC Ruling
Takes Aim at Stock-Exchange Profits". Wall Street Journal. Retrieved 18 October 2018.
20. Jump up^ "SEC rules NYSE and Nasdaq did not justify data fee increases". Financial
Times. Retrieved 18 October 2018.
21. Jump up^ Michaels, Dave (2018-10-19). "NYSE, Nasdaq Take It on the Chin in
Washington". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-10-19.
22. Jump up^ "Order Book, Level 2 Market Data, and Depth of Market". Daytrading.
About.com. Archived from the original on February 13, 2011.
23. Jump up^ "Nasdaq Level III Quote". Archived from the original on April 13, 2014.
24. Jump up^ "Nasdaq Trading Schedule". Nasdaq.com. Archived from the original on April
17, 2014. Retrieved April 20, 2014.
25. Jump up^ "Definition of 'Nasdaq SmallCap Market', now known as Nasdaq Capital
Market". Investopedia.com. Archived from the original on August 4, 2013. Retrieved August 25,
2013.
26. Jump up^ "Definition of 'Nasdaq Global Market Composite'". Investopedia.com.
Archived from the original on September 17, 2013. Retrieved August 25,2013.
27. Jump up^ "Definition of 'Nasdaq Global Select Market Composite'". Investopedia.com.
Archived from the original on October 4, 2013. Retrieved August 25, 2013.
28. Jump up^ Pinto, Jerald E.; Henry, Elaine; Robinson, Thomas R.; Stowe, John D. (2010).
Equity Asset Valuation. CFA Institute Investment Series. 27 (2 ed.). John Wiley & Sons. p. 6.
ISBN 9780470579657. Archived from the original on May 10, 2013. Retrieved March 4, 2013.
[...] NASDAQ-GS stands for 'Nasdaq Global Select Market,' [...]
29. Jump up^ "Measuring Worth – Measures of worth, inflation rates, saving calculator,
relative value, worth of a dollar, worth of a pound, purchasing power, gold prices, GDP, history
of wages, average wage". measuringworth.com. Archived from the original on October 4, 2015.
Retrieved October 2, 2015.
External links[edit]
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Nasdaq
Nasdaq logo.svg
Type Stock exchange
Location One Liberty Plaza
165 Broadway, New York City, New York, U.S.
Founded February 4, 1971; 47 years ago
Owner Nasdaq, Inc.
Currency United States Dollar
No. of listings 3,321 (June 2018)[1]
Market cap Increase $10 trillion
Website Business.Nasdaq.com
The Nasdaq Stock Market (/ˈnæzˌdæk/ (About this sound listen), also known simply as Nasdaq)
is an American stock exchange. It is the second-largest stock exchange in the world by market
capitalization, behind only the New York Stock Exchange located in the same city.[2] The
exchange platform is owned by Nasdaq, Inc.,[3] which also owns the Nasdaq Nordic (formerly
known as OMX) and Nasdaq Baltic stock market network and several U.S. stock and options
exchanges

Contents
1 History
1.1 1971–1999
1.2 2000–present
2 Quote availability
3 Trading schedule
4 Market tiers
5 Average annualized growth rate
6 See also
7 References
8 External links
History
1971–1999
"Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated
Quotations.[4] It was founded in 1971 by the National Association of Securities Dealers
(NASD),[5] which divested itself of Nasdaq in a series of sales in 2000 and 2001. The Nasdaq
Stock Market is owned and operated by Nasdaq, Inc., the stock of which was listed on its own
securities exchange on July 2, 2002, under the ticker symbol NDAQ.

Former logo used from 1971 to 2014


The Nasdaq Stock Market began trading on February 8, 1971. It was the world's first electronic
stock market.[5] At first, it was merely a “quotation system” and did not provide a way to
perform electronic trades.[6][not in citation given] The Nasdaq Stock Market helped lower the
spread (the difference between the bid price and the ask price of the stock) but was unpopular
among brokerages which made much of their money on the spread.

The NASDAQ Stock Market eventually assumed the majority of major trades that had been
executed by the over-the-counter (OTC) system of trading, but there are still many securities
traded in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as
"OTC" in media reports[7] and also in the monthly Stock Guides (stock guides and procedures)
issued by Standard & Poor's Corporation.[citation needed]

Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and
volume reporting and automated trading systems. It was also the first stock market in the
United States to trade online, highlighting Nasdaq-traded companies and closing with the
declaration that the Nasdaq Stock Market is "the stock market for the next hundred years". The
Nasdaq Stock Market attracted new growth companies, including Microsoft, Apple, Cisco,
Oracle and Dell, and it helped modernize the IPO.

Its main index is the NASDAQ Composite, which has been published since its inception.
However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, which was
introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100
companies in terms of market capitalization.

In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first
intercontinental linkage of securities markets.[8] The National Association of Securities Dealers
spun off the Nasdaq Stock Market in 2000 to form a publicly traded company.

The NASDAQ Composite index spiked in the late 1990s and then fell sharply as a result of the
dot-com bubble.
2000–present

Studio
On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3227 by April 17,[9]
and in the following 30 months fell 78% from its peak.[10]

In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed
national securities exchange.[11]

In 2007, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries,
expanded its global footprint, and changed its name to the NASDAQ OMX Group.[12]

To qualify for listing on the exchange, a company must be registered with the United States
Securities and Exchange Commission (SEC), must have at least three market makers (financial
firms that act as brokers or dealers for specific securities) and must meet minimum
requirements for assets, capital, public shares, and shareholders.

In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Börse,
speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a
counter-bid of their own for NYSE. NASDAQ OMX could be[when?] looking to acquire the
American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE
Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was
valued at $9.45 billion."[13] Late in the month, Nasdaq was reported to be considering asking
either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it
proceeded, an $11–12 billion counterbid.[14]

The European Association of Securities Dealers Automatic Quotation System (EASDAQ) was
founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in
2001 and became NASDAQ Europe. Operations were shut down, however, as a result of the
burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, and is
currently[when?] operating under Börse Berlin.[15]

On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable
Stock Exchanges initiative on the eve of the United Nations Conference on Sustainable
Development (Rio+20).[16]

In November 2016, Nasdaq Chief Operating Officer Adena Friedman was promoted to the role
of CEO, becoming the first woman to run a major exchange in the U.S.[17] In 2016, Nasdaq
earned $272 million in listings-related revenues.[18]

In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price
increases when selling market data.[19][20][21]

Quote availability
Nasdaq quotes are available at three levels:

Level 1 shows the highest bid and lowest ask—inside quote.


Level 2 shows all public quotes of market makers together with information of market dealers
wishing to buy or sell stock and recently executed orders.[22]
Level 3 is used by the market makers and allows them to enter their quotes and execute
orders.[23]
Trading schedule
The Nasdaq Stock Market sessions eastern time are:

4:00 am to 9:30 am premarket session

9:30 am to 4:00 pm normal trading session

4:00 pm to 8:00 pm postmarket session[24]

Market tiers
The Nasdaq Stock Market has three different market tiers:

Capital Market (small cap) is an equity market for companies that have relatively small levels of
market capitalization. Listing requirements for such "small cap" companies are less stringent
than for other Nasdaq markets that list larger companies with significantly higher market
capitalization.[25]
Global Market (mid cap) is made up of stocks that represent the Nasdaq Global Market. The
Global Market consists of 1,450 stocks that meet Nasdaq's strict financial and liquidity
requirements, and corporate governance standards. The Global Market is less exclusive than
the Global Select Market.[26]
Global Select Market (NASDAQ-GS large cap) is a market capitalization-weighted index made up
of US-based and international stocks that represent the Global Select Market Composite. The
Global Select Market consists of 1,200 stocks that meet Nasdaq's strict financial and liquidity
requirements and corporate governance standards. The Global Select Market is more exclusive
than the Global Market. Every October, the Nasdaq Listing Qualifications Department reviews
the Global Market Composite to determine if any of its stocks have become eligible for listing
on the Global Select Market.[27][28]
Average annualized growth rate
As of June 2015, the Nasdaq Stock Market had an average annualized growth rate of 9.24%
since its opening in February 1971. Since the end of the recession in June 2009 however, it has
increased by 18.29% per year.[29]

See also
flag New York City portal
Wikimedia Commons has media related to NASDAQ.
ACT (NASDAQ)
Advanced Computerized Execution System
Directors Desk
Economy of New York City
List of stock exchange mergers in the Americas
List of stock exchanges
List of stock exchanges in the Americas
NASDAQ futures
Nasdaq, Inc.
NASDAQ-100
NASDAQ Financial-100
United States corporate law
References
"Nasdaq Companies". Archived from the original on February 13, 2011. Retrieved June 1, 2018.
"Monthly Reports". World-Exchanges.org. World Federation of Exchanges. Archived from the
original on August 17, 2014. Retrieved June 3, 2015.
"Nasdaq – Business Solutions & Services". Business.nasdaq.com. Archived from the original on
October 20, 2016. Retrieved October 23, 2016.
Frequently Asked Questions. NASDAQ.com. NASDAQ, n.d. Web. December 23, 2001. Archived
February 13, 2011, at WebCite
Terrell, Ellen. "History of the American and Nasdaq Stock Exchanges". LOC.gov. Library of
Congress Business Reference Services. Archived from the original on April 14, 2013. Retrieved
April 27, 2013.
"Nasdaq.com Frequently Asked Questions". Nasdaq.com. Retrieved October 23, 2016.
Gilpin, Kenneth N. (July 3, 1987). "Company News: An Erratic Quarter for Stock Markets". The
New York Times. ISSN 0362-4331. Archived from the original on August 1, 2017. Retrieved
February 1, 2017.
Odekon, Mehmet (March 17, 2015). Booms and Busts: An Encyclopedia of Economic History
from the First Stock Market Crash of 1792 to the Current Global Economic Crisis: An
Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the Current
Global Economic Crisis. Routledge. ISBN 9781317475750. Archived from the original on August
3, 2017.
"NASDAQ Composite daily index". Archived from the original on November 22, 2010.
Glassman, James K. (February 11, 2015). "3 Lessons for Investors From the Tech Bubble".
Kiplinger's Personal Finance. Archived from the original on April 15, 2017.
Walsh, Michelle. "Nasdaq Stock Market Becomes A National Securities Exchange; Changes
Market Designations". Archived from the original on December 17, 2013.
Lucchetti, Aaron; MacDonald, Alistair (May 26, 2007). "Nasdaq Lands OMX for $3.7 Billion; Are
More Merger Deals on the Way?". Wall Street Journal. ISSN 0099-9660. Archived from the
original on July 31, 2017. Retrieved July 21, 2017.
De la Merced, Michael J., "Nasdaq and ICE Hold Talks Over Potential N.Y.S.E. Bid" Archived
January 20, 2012, at the Wayback Machine., The New York Times Dealbook, February 18, 2011,
12:46 pm. Retrieved February 18, 2011.
Fraser, Michelle E., "Nasdaq May Ask CME or ICE for Help in NYSE Counterbid, WSJ Says"
Archived July 29, 2014, at the Wayback Machine., Bloomberg, February 26, 2011 9:30 AM ET.
Retrieved March 1, 2011.
"Easdaq Makes A Comeback As Equiduct". Archived from the original on February 13, 2011.
"Sustainable Stock Exchanges Initiative: Exchanges listing over 4,600 companies commit to
promoting sustainability". Reuters.com. Reuters. Archived from the original on May 13, 2014.
Retrieved May 13, 2014.
"Nasdaq's New CEO Attributes Her Success to an 'Eclectic' Career Path". Fortune. November
15, 2016. Archived from the original on November 17, 2016. Retrieved November 17, 2016.
Osipovich, Alexander (October 26, 2017). "Startup Exchange Cleared to Take on NYSE, Nasdaq
for Stock Listings". Wall Street Journal. New York City, United States. Archived from the original
on October 26, 2017. Retrieved October 26, 2017.
Alexander Osipovich; Dave Michaels; Gretchen Morgenson. "SEC Ruling Takes Aim at Stock-
Exchange Profits". Wall Street Journal. Retrieved 18 October 2018.
"SEC rules NYSE and Nasdaq did not justify data fee increases". Financial Times. Retrieved 18
October 2018.
Michaels, Dave (2018-10-19). "NYSE, Nasdaq Take It on the Chin in Washington". Wall Street
Journal. ISSN 0099-9660. Retrieved 2018-10-19.
"Order Book, Level 2 Market Data, and Depth of Market". Daytrading. About.com. Archived
from the original on February 13, 2011.
"Nasdaq Level III Quote". Archived from the original on April 13, 2014.
"Nasdaq Trading Schedule". Nasdaq.com. Archived from the original on April 17, 2014.
Retrieved April 20, 2014.
"Definition of 'Nasdaq SmallCap Market', now known as Nasdaq Capital Market".
Investopedia.com. Archived from the original on August 4, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Market Composite'". Investopedia.com. Archived from the
original on September 17, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Select Market Composite'". Investopedia.com. Archived from the
original on October 4, 2013. Retrieved August 25, 2013.
Pinto, Jerald E.; Henry, Elaine; Robinson, Thomas R.; Stowe, John D. (2010). Equity Asset
Valuation. CFA Institute Investment Series. 27 (2 ed.). John Wiley & Sons. p. 6. ISBN
9780470579657. Archived from the original on May 10, 2013. Retrieved March 4, 2013. [...]
NASDAQ-GS stands for 'Nasdaq Global Select Market,' [...]
"Measuring Worth – Measures of worth, inflation rates, saving calculator, relative value, worth
of a dollar, worth of a pound, purchasing power, gold prices, GDP, history of wages, average
wage". measuringworth.com. Archived from the original on October 4, 2015. Retrieved October
2, 2015.
External links
Official Website
vte
Nasdaq, Inc.
vte
Financial markets
vte
Major United States stock market indices
Categories: Stock exchanges in the United StatesElectronic trading platformsPrivate equity
portfolio companiesAmerican companies established in 19711971 establishments in New York
(state)Companies based in New York CityEconomy of New York CityFinancial services
companies established in 1971Financial services companies based in New York City
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NASDAQ
From Wikipedia, the free encyclopedia
Jump to navigationJump to search
Nasdaq
Nasdaq logo.svg
Type Stock exchange
Location One Liberty Plaza
165 Broadway, New York City, New York, U.S.
Founded February 4, 1971; 47 years ago
Owner Nasdaq, Inc.
Currency United States Dollar
No. of listings 3,321 (June 2018)[1]
Market cap Increase $10 trillion
Website Business.Nasdaq.com
The Nasdaq Stock Market (/ˈnæzˌdæk/ (About this sound listen), also known simply as Nasdaq)
is an American stock exchange. It is the second-largest stock exchange in the world by market
capitalization, behind only the New York Stock Exchange located in the same city.[2] The
exchange platform is owned by Nasdaq, Inc.,[3] which also owns the Nasdaq Nordic (formerly
known as OMX) and Nasdaq Baltic stock market network and several U.S. stock and options
exchanges

Contents
1 History
1.1 1971–1999
1.2 2000–present
2 Quote availability
3 Trading schedule
4 Market tiers
5 Average annualized growth rate
6 See also
7 References
8 External links
History
1971–1999
"Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated
Quotations.[4] It was founded in 1971 by the National Association of Securities Dealers
(NASD),[5] which divested itself of Nasdaq in a series of sales in 2000 and 2001. The Nasdaq
Stock Market is owned and operated by Nasdaq, Inc., the stock of which was listed on its own
securities exchange on July 2, 2002, under the ticker symbol NDAQ.

Former logo used from 1971 to 2014


The Nasdaq Stock Market began trading on February 8, 1971. It was the world's first electronic
stock market.[5] At first, it was merely a “quotation system” and did not provide a way to
perform electronic trades.[6][not in citation given] The Nasdaq Stock Market helped lower the
spread (the difference between the bid price and the ask price of the stock) but was unpopular
among brokerages which made much of their money on the spread.

The NASDAQ Stock Market eventually assumed the majority of major trades that had been
executed by the over-the-counter (OTC) system of trading, but there are still many securities
traded in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as
"OTC" in media reports[7] and also in the monthly Stock Guides (stock guides and procedures)
issued by Standard & Poor's Corporation.[citation needed]

Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and
volume reporting and automated trading systems. It was also the first stock market in the United
States to trade online, highlighting Nasdaq-traded companies and closing with the declaration
that the Nasdaq Stock Market is "the stock market for the next hundred years". The Nasdaq
Stock Market attracted new growth companies, including Microsoft, Apple, Cisco, Oracle and
Dell, and it helped modernize the IPO.
Its main index is the NASDAQ Composite, which has been published since its inception.
However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, which was
introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100
companies in terms of market capitalization.

In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first
intercontinental linkage of securities markets.[8] The National Association of Securities Dealers
spun off the Nasdaq Stock Market in 2000 to form a publicly traded company.

The NASDAQ Composite index spiked in the late 1990s and then fell sharply as a result of the
dot-com bubble.
2000–present

Studio
On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3227 by April
17,[9] and in the following 30 months fell 78% from its peak.[10]

In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed
national securities exchange.[11]

In 2007, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries,
expanded its global footprint, and changed its name to the NASDAQ OMX Group.[12]

To qualify for listing on the exchange, a company must be registered with the United States
Securities and Exchange Commission (SEC), must have at least three market makers (financial
firms that act as brokers or dealers for specific securities) and must meet minimum requirements
for assets, capital, public shares, and shareholders.

In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Börse,
speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a
counter-bid of their own for NYSE. NASDAQ OMX could be[when?] looking to acquire the
American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE
Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was
valued at $9.45 billion."[13] Late in the month, Nasdaq was reported to be considering asking
either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it
proceeded, an $11–12 billion counterbid.[14]

The European Association of Securities Dealers Automatic Quotation System (EASDAQ) was
founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in
2001 and became NASDAQ Europe. Operations were shut down, however, as a result of the
burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, and is
currently[when?] operating under Börse Berlin.[15]
On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable
Stock Exchanges initiative on the eve of the United Nations Conference on Sustainable
Development (Rio+20).[16]

In November 2016, Nasdaq Chief Operating Officer Adena Friedman was promoted to the role
of CEO, becoming the first woman to run a major exchange in the U.S.[17] In 2016, Nasdaq
earned $272 million in listings-related revenues.[18]

In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price
increases when selling market data.[19][20][21]

Quote availability
Nasdaq quotes are available at three levels:

Level 1 shows the highest bid and lowest ask—inside quote.


Level 2 shows all public quotes of market makers together with information of market dealers
wishing to buy or sell stock and recently executed orders.[22]
Level 3 is used by the market makers and allows them to enter their quotes and execute
orders.[23]
Trading schedule
The Nasdaq Stock Market sessions eastern time are:

4:00 am to 9:30 am premarket session

9:30 am to 4:00 pm normal trading session

4:00 pm to 8:00 pm postmarket session[24]

Market tiers
The Nasdaq Stock Market has three different market tiers:

Capital Market (small cap) is an equity market for companies that have relatively small levels of
market capitalization. Listing requirements for such "small cap" companies are less stringent
than for other Nasdaq markets that list larger companies with significantly higher market
capitalization.[25]
Global Market (mid cap) is made up of stocks that represent the Nasdaq Global Market. The
Global Market consists of 1,450 stocks that meet Nasdaq's strict financial and liquidity
requirements, and corporate governance standards. The Global Market is less exclusive than the
Global Select Market.[26]
Global Select Market (NASDAQ-GS large cap) is a market capitalization-weighted index made
up of US-based and international stocks that represent the Global Select Market Composite. The
Global Select Market consists of 1,200 stocks that meet Nasdaq's strict financial and liquidity
requirements and corporate governance standards. The Global Select Market is more exclusive
than the Global Market. Every October, the Nasdaq Listing Qualifications Department reviews
the Global Market Composite to determine if any of its stocks have become eligible for listing on
the Global Select Market.[27][28]
Average annualized growth rate
As of June 2015, the Nasdaq Stock Market had an average annualized growth rate of 9.24%
since its opening in February 1971. Since the end of the recession in June 2009 however, it has
increased by 18.29% per year.[29]

See also
flag New York City portal
Wikimedia Commons has media related to NASDAQ.
ACT (NASDAQ)
Advanced Computerized Execution System
Directors Desk
Economy of New York City
List of stock exchange mergers in the Americas
List of stock exchanges
List of stock exchanges in the Americas
NASDAQ futures
Nasdaq, Inc.
NASDAQ-100
NASDAQ Financial-100
United States corporate law
References
"Nasdaq Companies". Archived from the original on February 13, 2011. Retrieved June 1, 2018.
"Monthly Reports". World-Exchanges.org. World Federation of Exchanges. Archived from the
original on August 17, 2014. Retrieved June 3, 2015.
"Nasdaq – Business Solutions & Services". Business.nasdaq.com. Archived from the original on
October 20, 2016. Retrieved October 23, 2016.
Frequently Asked Questions. NASDAQ.com. NASDAQ, n.d. Web. December 23, 2001.
Archived February 13, 2011, at WebCite
Terrell, Ellen. "History of the American and Nasdaq Stock Exchanges". LOC.gov. Library of
Congress Business Reference Services. Archived from the original on April 14, 2013. Retrieved
April 27, 2013.
"Nasdaq.com Frequently Asked Questions". Nasdaq.com. Retrieved October 23, 2016.
Gilpin, Kenneth N. (July 3, 1987). "Company News: An Erratic Quarter for Stock Markets".
The New York Times. ISSN 0362-4331. Archived from the original on August 1, 2017.
Retrieved February 1, 2017.
Odekon, Mehmet (March 17, 2015). Booms and Busts: An Encyclopedia of Economic History
from the First Stock Market Crash of 1792 to the Current Global Economic Crisis: An
Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the Current
Global Economic Crisis. Routledge. ISBN 9781317475750. Archived from the original on
August 3, 2017.
"NASDAQ Composite daily index". Archived from the original on November 22, 2010.
Glassman, James K. (February 11, 2015). "3 Lessons for Investors From the Tech Bubble".
Kiplinger's Personal Finance. Archived from the original on April 15, 2017.
Walsh, Michelle. "Nasdaq Stock Market Becomes A National Securities Exchange; Changes
Market Designations". Archived from the original on December 17, 2013.
Lucchetti, Aaron; MacDonald, Alistair (May 26, 2007). "Nasdaq Lands OMX for $3.7 Billion;
Are More Merger Deals on the Way?". Wall Street Journal. ISSN 0099-9660. Archived from the
original on July 31, 2017. Retrieved July 21, 2017.
De la Merced, Michael J., "Nasdaq and ICE Hold Talks Over Potential N.Y.S.E. Bid" Archived
January 20, 2012, at the Wayback Machine., The New York Times Dealbook, February 18,
2011, 12:46 pm. Retrieved February 18, 2011.
Fraser, Michelle E., "Nasdaq May Ask CME or ICE for Help in NYSE Counterbid, WSJ Says"
Archived July 29, 2014, at the Wayback Machine., Bloomberg, February 26, 2011 9:30 AM ET.
Retrieved March 1, 2011.
"Easdaq Makes A Comeback As Equiduct". Archived from the original on February 13, 2011.
"Sustainable Stock Exchanges Initiative: Exchanges listing over 4,600 companies commit to
promoting sustainability". Reuters.com. Reuters. Archived from the original on May 13, 2014.
Retrieved May 13, 2014.
"Nasdaq's New CEO Attributes Her Success to an 'Eclectic' Career Path". Fortune. November
15, 2016. Archived from the original on November 17, 2016. Retrieved November 17, 2016.
Osipovich, Alexander (October 26, 2017). "Startup Exchange Cleared to Take on NYSE,
Nasdaq for Stock Listings". Wall Street Journal. New York City, United States. Archived from
the original on October 26, 2017. Retrieved October 26, 2017.
Alexander Osipovich; Dave Michaels; Gretchen Morgenson. "SEC Ruling Takes Aim at Stock-
Exchange Profits". Wall Street Journal. Retrieved 18 October 2018.
"SEC rules NYSE and Nasdaq did not justify data fee increases". Financial Times. Retrieved 18
October 2018.
Michaels, Dave (2018-10-19). "NYSE, Nasdaq Take It on the Chin in Washington". Wall Street
Journal. ISSN 0099-9660. Retrieved 2018-10-19.
"Order Book, Level 2 Market Data, and Depth of Market". Daytrading. About.com. Archived
from the original on February 13, 2011.
"Nasdaq Level III Quote". Archived from the original on April 13, 2014.
"Nasdaq Trading Schedule". Nasdaq.com. Archived from the original on April 17, 2014.
Retrieved April 20, 2014.
"Definition of 'Nasdaq SmallCap Market', now known as Nasdaq Capital Market".
Investopedia.com. Archived from the original on August 4, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Market Composite'". Investopedia.com. Archived from the
original on September 17, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Select Market Composite'". Investopedia.com. Archived from the
original on October 4, 2013. Retrieved August 25, 2013.
Pinto, Jerald E.; Henry, Elaine; Robinson, Thomas R.; Stowe, John D. (2010). Equity Asset
Valuation. CFA Institute Investment Series. 27 (2 ed.). John Wiley & Sons. p. 6. ISBN
9780470579657. Archived from the original on May 10, 2013. Retrieved March 4, 2013. [...]
NASDAQ-GS stands for 'Nasdaq Global Select Market,' [...]
"Measuring Worth – Measures of worth, inflation rates, saving calculator, relative value, worth
of a dollar, worth of a pound, purchasing power, gold prices, GDP, history of wages, average
wage". measuringworth.com. Archived from the original on October 4, 2015. Retrieved October
2, 2015.
External links
Official Website
vte
Nasdaq, Inc.
vte
Financial markets
vte
Major United States stock market indices
Categories: Stock exchanges in the United StatesElectronic trading platformsPrivate equity
portfolio companiesAmerican companies established in 19711971 establishments in New York
(state)Companies based in New York CityEconomy of New York CityFinancial services
companies established in 1971Financial services companies based in New York City
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NASDAQ
From Wikipedia, the free encyclopedia
Jump to navigationJump to search
Nasdaq

Type Stock exchange

Location One Liberty Plaza


165 Broadway, New York City, New York, U.S.

Founded February 4, 1971; 47 years ago


Owner Nasdaq, Inc.

Currency United States Dollar

No. of listings 3,321 (June 2018)[1]

Market cap
$10 trillion

Website Business.Nasdaq.com

The Nasdaq Stock Market (/ˈnæzˌdæk/ ( listen), also known simply as Nasdaq) is an American
stock exchange. It is the second-largest stock exchange in the world by market capitalization,
behind only the New York Stock Exchange located in the same city.[2] The exchange platform is
owned by Nasdaq, Inc.,[3] which also owns the Nasdaq Nordic (formerly known as OMX) and
Nasdaq Baltic stock market network and several U.S. stock and options exchanges
Contents
• 1History
o 1.11971–1999
o 1.22000–present
• 2Quote availability
• 3Trading schedule
• 4Market tiers
• 5Average annualized growth rate
• 6See also
• 7References
• 8External links
History[edit]
1971–1999[edit]
"Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated
Quotations.[4] It was founded in 1971 by the National Association of Securities Dealers
(NASD),[5] which divested itself of Nasdaq in a series of sales in 2000 and 2001. The Nasdaq
Stock Market is owned and operated by Nasdaq, Inc., the stock of which was listed on its own
securities exchange on July 2, 2002, under the ticker symbol NDAQ.

Former logo used from 1971 to 2014


The Nasdaq Stock Market began trading on February 8, 1971. It was the world's first electronic
stock market.[5] At first, it was merely a “quotation system” and did not provide a way to
perform electronic trades.[6][not in citation given]The Nasdaq Stock Market helped lower the
spread (the difference between the bid price and the ask price of the stock) but was unpopular
among brokerages which made much of their money on the spread.
The NASDAQ Stock Market eventually assumed the majority of major trades that had been
executed by the over-the-counter (OTC) system of trading, but there are still many securities
traded in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as
"OTC" in media reports[7] and also in the monthly Stock Guides (stock guides and procedures)
issued by Standard & Poor's Corporation.[citation needed]
Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and
volume reporting and automated trading systems. It was also the first stock market in the United
States to trade online, highlighting Nasdaq-traded companies and closing with the declaration
that the Nasdaq Stock Market is "the stock market for the next hundred years". The Nasdaq
Stock Market attracted new growth companies, including Microsoft, Apple, Cisco, Oracle and
Dell, and it helped modernize the IPO.
Its main index is the NASDAQ Composite, which has been published since its inception.
However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, which was
introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100
companies in terms of market capitalization.
In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first
intercontinental linkage of securities markets.[8] The National Association of Securities Dealers
spun off the Nasdaq Stock Market in 2000 to form a publicly traded company.

The NASDAQ Composite index spiked in the late 1990s and then fell sharply as a result of the
dot-com bubble.
2000–present[edit]

Studio
On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3227 by April
17,[9] and in the following 30 months fell 78% from its peak.[10]
In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed
national securities exchange.[11]
In 2007, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries,
expanded its global footprint, and changed its name to the NASDAQ OMX Group.[12]
To qualify for listing on the exchange, a company must be registered with the United States
Securities and Exchange Commission (SEC), must have at least three market makers (financial
firms that act as brokers or dealers for specific securities) and must meet minimum requirements
for assets, capital, public shares, and shareholders.
In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Börse,
speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a
counter-bid of their own for NYSE. NASDAQ OMX could be[when?] looking to acquire the
American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE
Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was
valued at $9.45 billion."[13] Late in the month, Nasdaq was reported to be considering asking
either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it
proceeded, an $11–12 billion counterbid.[14]
The European Association of Securities Dealers Automatic Quotation System (EASDAQ) was
founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in
2001 and became NASDAQ Europe. Operations were shut down, however, as a result of the
burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, and is
currently[when?] operating under Börse Berlin.[15]
On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable
Stock Exchanges initiative on the eve of the United Nations Conference on Sustainable
Development (Rio+20).[16]
In November 2016, Nasdaq Chief Operating Officer Adena Friedman was promoted to the role
of CEO, becoming the first woman to run a major exchange in the U.S.[17] In 2016, Nasdaq
earned $272 million in listings-related revenues.[18]
In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price
increases when selling market data.[19][20][21]
Quote availability[edit]
Nasdaq quotes are available at three levels:
• Level 1 shows the highest bid and lowest ask—inside quote.
• Level 2 shows all public quotes of market makers together with information of market
dealers wishing to buy or sell stock and recently executed orders.[22]
• Level 3 is used by the market makers and allows them to enter their quotes and execute
orders.[23]
Trading schedule[edit]
The Nasdaq Stock Market sessions eastern time are:
4:00 am to 9:30 am premarket session
9:30 am to 4:00 pm normal trading session
4:00 pm to 8:00 pm postmarket session[24]
Market tiers[edit]
The Nasdaq Stock Market has three different market tiers:
• Capital Market (small cap) is an equity market for companies that have relatively small
levels of market capitalization. Listing requirements for such "small cap" companies are less
stringent than for other Nasdaq markets that list larger companies with significantly higher
market capitalization.[25]
• Global Market (mid cap) is made up of stocks that represent the Nasdaq Global Market.
The Global Market consists of 1,450 stocks that meet Nasdaq's strict financial and liquidity
requirements, and corporate governance standards. The Global Market is less exclusive than the
Global Select Market.[26]
• Global Select Market (NASDAQ-GS large cap) is a market capitalization-weighted index
made up of US-based and international stocks that represent the Global Select Market
Composite. The Global Select Market consists of 1,200 stocks that meet Nasdaq's strict financial
and liquidity requirements and corporate governance standards. The Global Select Market is
more exclusive than the Global Market. Every October, the Nasdaq Listing Qualifications
Department reviews the Global Market Composite to determine if any of its stocks have become
eligible for listing on the Global Select Market.[27][28]
Average annualized growth rate[edit]
As of June 2015, the Nasdaq Stock Market had an average annualized growth rate of 9.24%
since its opening in February 1971. Since the end of the recession in June 2009 however, it has
increased by 18.29% per year.[29]
See also[edit]
• New York City portal
Wikimedia Commons has media related to NASDAQ.

• ACT (NASDAQ)
• Advanced Computerized Execution System
• Directors Desk
• Economy of New York City
• List of stock exchange mergers in the Americas
• List of stock exchanges
• List of stock exchanges in the Americas
• NASDAQ futures
• Nasdaq, Inc.
• NASDAQ-100
• NASDAQ Financial-100
• United States corporate law
References[edit]
1. Jump up^ "Nasdaq Companies". Archived from the original on February 13, 2011.
Retrieved June 1, 2018.
2. Jump up^ "Monthly Reports". World-Exchanges.org. World Federation of Exchanges.
Archived from the original on August 17, 2014. Retrieved June 3, 2015.
3. Jump up^ "Nasdaq – Business Solutions & Services". Business.nasdaq.com. Archived
from the original on October 20, 2016. Retrieved October 23,2016.
4. Jump up^ Frequently Asked Questions. NASDAQ.com. NASDAQ, n.d. Web. December
23, 2001. Archived February 13, 2011, at WebCite
5. ^ Jump up to:a b Terrell, Ellen. "History of the American and Nasdaq Stock Exchanges".
LOC.gov. Library of Congress Business Reference Services. Archived from the original on April
14, 2013. Retrieved April 27, 2013.
6. Jump up^ "Nasdaq.com Frequently Asked Questions". Nasdaq.com. Retrieved October
23, 2016.
7. Jump up^ Gilpin, Kenneth N. (July 3, 1987). "Company News: An Erratic Quarter for
Stock Markets". The New York Times. ISSN 0362-4331. Archived from the original on August
1, 2017. Retrieved February 1, 2017.
8. Jump up^ Odekon, Mehmet (March 17, 2015). Booms and Busts: An Encyclopedia of
Economic History from the First Stock Market Crash of 1792 to the Current Global Economic
Crisis: An Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the
Current Global Economic Crisis. Routledge. ISBN 9781317475750. Archived from the original
on August 3, 2017.
9. Jump up^ "NASDAQ Composite daily index". Archived from the original on November
22, 2010.
10. Jump up^ Glassman, James K. (February 11, 2015). "3 Lessons for Investors From the
Tech Bubble". Kiplinger's Personal Finance. Archived from the original on April 15, 2017.
11. Jump up^ Walsh, Michelle. "Nasdaq Stock Market Becomes A National Securities
Exchange; Changes Market Designations". Archived from the original on December 17, 2013.
12. Jump up^ Lucchetti, Aaron; MacDonald, Alistair (May 26, 2007). "Nasdaq Lands OMX
for $3.7 Billion; Are More Merger Deals on the Way?". Wall Street Journal. ISSN 0099-9660.
Archived from the original on July 31, 2017. Retrieved July 21, 2017.
13. Jump up^ De la Merced, Michael J., "Nasdaq and ICE Hold Talks Over Potential
N.Y.S.E. Bid" Archived January 20, 2012, at the Wayback Machine., The New York Times
Dealbook, February 18, 2011, 12:46 pm. Retrieved February 18, 2011.
14. Jump up^ Fraser, Michelle E., "Nasdaq May Ask CME or ICE for Help in NYSE
Counterbid, WSJ Says" Archived July 29, 2014, at the Wayback Machine., Bloomberg, February
26, 2011 9:30 AM ET. Retrieved March 1, 2011.
15. Jump up^ "Easdaq Makes A Comeback As Equiduct". Archived from the original on
February 13, 2011.
16. Jump up^ "Sustainable Stock Exchanges Initiative: Exchanges listing over 4,600
companies commit to promoting sustainability". Reuters.com. Reuters. Archived from the
original on May 13, 2014. Retrieved May 13, 2014.
17. Jump up^ "Nasdaq's New CEO Attributes Her Success to an 'Eclectic' Career Path".
Fortune. November 15, 2016. Archived from the original on November 17, 2016. Retrieved
November 17, 2016.
18. Jump up^ Osipovich, Alexander (October 26, 2017). "Startup Exchange Cleared to Take
on NYSE, Nasdaq for Stock Listings". Wall Street Journal. New York City, United States.
Archived from the original on October 26, 2017. Retrieved October 26, 2017.
19. Jump up^ Alexander Osipovich; Dave Michaels; Gretchen Morgenson. "SEC Ruling
Takes Aim at Stock-Exchange Profits". Wall Street Journal. Retrieved 18 October 2018.
20. Jump up^ "SEC rules NYSE and Nasdaq did not justify data fee increases". Financial
Times. Retrieved 18 October 2018.
21. Jump up^ Michaels, Dave (2018-10-19). "NYSE, Nasdaq Take It on the Chin in
Washington". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-10-19.
22. Jump up^ "Order Book, Level 2 Market Data, and Depth of Market". Daytrading.
About.com. Archived from the original on February 13, 2011.
23. Jump up^ "Nasdaq Level III Quote". Archived from the original on April 13, 2014.
24. Jump up^ "Nasdaq Trading Schedule". Nasdaq.com. Archived from the original on April
17, 2014. Retrieved April 20, 2014.
25. Jump up^ "Definition of 'Nasdaq SmallCap Market', now known as Nasdaq Capital
Market". Investopedia.com. Archived from the original on August 4, 2013. Retrieved August 25,
2013.
26. Jump up^ "Definition of 'Nasdaq Global Market Composite'". Investopedia.com.
Archived from the original on September 17, 2013. Retrieved August 25,2013.
27. Jump up^ "Definition of 'Nasdaq Global Select Market Composite'". Investopedia.com.
Archived from the original on October 4, 2013. Retrieved August 25, 2013.
28. Jump up^ Pinto, Jerald E.; Henry, Elaine; Robinson, Thomas R.; Stowe, John D. (2010).
Equity Asset Valuation. CFA Institute Investment Series. 27 (2 ed.). John Wiley & Sons. p. 6.
ISBN 9780470579657. Archived from the original on May 10, 2013. Retrieved March 4, 2013.
[...] NASDAQ-GS stands for 'Nasdaq Global Select Market,' [...]
29. Jump up^ "Measuring Worth – Measures of worth, inflation rates, saving calculator,
relative value, worth of a dollar, worth of a pound, purchasing power, gold prices, GDP, history
of wages, average wage". measuringworth.com. Archived from the original on October 4, 2015.
Retrieved October 2, 2015.
External links[edit]
• Official Website
show
• v
• t
• e
Nasdaq, Inc.

show
• v
• t
• e
Financial markets

show
• v
• t
• e
Major United States stock market indices

Categories:
• Stock exchanges in the United States
• Electronic trading platforms
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NASDAQ
From Wikipedia, the free encyclopedia
Jump to navigationJump to search
Nasdaq
Nasdaq logo.svg
Type Stock exchange
Location One Liberty Plaza
165 Broadway, New York City, New York, U.S.
Founded February 4, 1971; 47 years ago
Owner Nasdaq, Inc.
Currency United States Dollar
No. of listings 3,321 (June 2018)[1]
Market cap Increase $10 trillion
Website Business.Nasdaq.com
The Nasdaq Stock Market (/ˈnæzˌdæk/ (About this sound listen), also known simply as Nasdaq)
is an American stock exchange. It is the second-largest stock exchange in the world by market
capitalization, behind only the New York Stock Exchange located in the same city.[2] The
exchange platform is owned by Nasdaq, Inc.,[3] which also owns the Nasdaq Nordic (formerly
known as OMX) and Nasdaq Baltic stock market network and several U.S. stock and options
exchanges
Contents
1 History
1.1 1971–1999
1.2 2000–present
2 Quote availability
3 Trading schedule
4 Market tiers
5 Average annualized growth rate
6 See also
7 References
8 External links
History
1971–1999
"Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated
Quotations.[4] It was founded in 1971 by the National Association of Securities Dealers
(NASD),[5] which divested itself of Nasdaq in a series of sales in 2000 and 2001. The Nasdaq
Stock Market is owned and operated by Nasdaq, Inc., the stock of which was listed on its own
securities exchange on July 2, 2002, under the ticker symbol NDAQ.

Former logo used from 1971 to 2014


The Nasdaq Stock Market began trading on February 8, 1971. It was the world's first electronic
stock market.[5] At first, it was merely a “quotation system” and did not provide a way to
perform electronic trades.[6][not in citation given] The Nasdaq Stock Market helped lower the
spread (the difference between the bid price and the ask price of the stock) but was unpopular
among brokerages which made much of their money on the spread.

The NASDAQ Stock Market eventually assumed the majority of major trades that had been
executed by the over-the-counter (OTC) system of trading, but there are still many securities
traded in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as
"OTC" in media reports[7] and also in the monthly Stock Guides (stock guides and procedures)
issued by Standard & Poor's Corporation.[citation needed]

Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and
volume reporting and automated trading systems. It was also the first stock market in the United
States to trade online, highlighting Nasdaq-traded companies and closing with the declaration
that the Nasdaq Stock Market is "the stock market for the next hundred years". The Nasdaq
Stock Market attracted new growth companies, including Microsoft, Apple, Cisco, Oracle and
Dell, and it helped modernize the IPO.

Its main index is the NASDAQ Composite, which has been published since its inception.
However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, which was
introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100
companies in terms of market capitalization.
In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first
intercontinental linkage of securities markets.[8] The National Association of Securities Dealers
spun off the Nasdaq Stock Market in 2000 to form a publicly traded company.

The NASDAQ Composite index spiked in the late 1990s and then fell sharply as a result of the
dot-com bubble.
2000–present

Studio
On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3227 by April
17,[9] and in the following 30 months fell 78% from its peak.[10]

In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed
national securities exchange.[11]

In 2007, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries,
expanded its global footprint, and changed its name to the NASDAQ OMX Group.[12]

To qualify for listing on the exchange, a company must be registered with the United States
Securities and Exchange Commission (SEC), must have at least three market makers (financial
firms that act as brokers or dealers for specific securities) and must meet minimum requirements
for assets, capital, public shares, and shareholders.

In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Börse,
speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a
counter-bid of their own for NYSE. NASDAQ OMX could be[when?] looking to acquire the
American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE
Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was
valued at $9.45 billion."[13] Late in the month, Nasdaq was reported to be considering asking
either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it
proceeded, an $11–12 billion counterbid.[14]

The European Association of Securities Dealers Automatic Quotation System (EASDAQ) was
founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in
2001 and became NASDAQ Europe. Operations were shut down, however, as a result of the
burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, and is
currently[when?] operating under Börse Berlin.[15]

On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable
Stock Exchanges initiative on the eve of the United Nations Conference on Sustainable
Development (Rio+20).[16]
In November 2016, Nasdaq Chief Operating Officer Adena Friedman was promoted to the role
of CEO, becoming the first woman to run a major exchange in the U.S.[17] In 2016, Nasdaq
earned $272 million in listings-related revenues.[18]

In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price
increases when selling market data.[19][20][21]

Quote availability
Nasdaq quotes are available at three levels:

Level 1 shows the highest bid and lowest ask—inside quote.


Level 2 shows all public quotes of market makers together with information of market dealers
wishing to buy or sell stock and recently executed orders.[22]
Level 3 is used by the market makers and allows them to enter their quotes and execute
orders.[23]
Trading schedule
The Nasdaq Stock Market sessions eastern time are:

4:00 am to 9:30 am premarket session

9:30 am to 4:00 pm normal trading session

4:00 pm to 8:00 pm postmarket session[24]

Market tiers
The Nasdaq Stock Market has three different market tiers:

Capital Market (small cap) is an equity market for companies that have relatively small levels of
market capitalization. Listing requirements for such "small cap" companies are less stringent
than for other Nasdaq markets that list larger companies with significantly higher market
capitalization.[25]
Global Market (mid cap) is made up of stocks that represent the Nasdaq Global Market. The
Global Market consists of 1,450 stocks that meet Nasdaq's strict financial and liquidity
requirements, and corporate governance standards. The Global Market is less exclusive than the
Global Select Market.[26]
Global Select Market (NASDAQ-GS large cap) is a market capitalization-weighted index made
up of US-based and international stocks that represent the Global Select Market Composite. The
Global Select Market consists of 1,200 stocks that meet Nasdaq's strict financial and liquidity
requirements and corporate governance standards. The Global Select Market is more exclusive
than the Global Market. Every October, the Nasdaq Listing Qualifications Department reviews
the Global Market Composite to determine if any of its stocks have become eligible for listing on
the Global Select Market.[27][28]
Average annualized growth rate
As of June 2015, the Nasdaq Stock Market had an average annualized growth rate of 9.24%
since its opening in February 1971. Since the end of the recession in June 2009 however, it has
increased by 18.29% per year.[29]
See also
flag New York City portal
Wikimedia Commons has media related to NASDAQ.
ACT (NASDAQ)
Advanced Computerized Execution System
Directors Desk
Economy of New York City
List of stock exchange mergers in the Americas
List of stock exchanges
List of stock exchanges in the Americas
NASDAQ futures
Nasdaq, Inc.
NASDAQ-100
NASDAQ Financial-100
United States corporate law
References
"Nasdaq Companies". Archived from the original on February 13, 2011. Retrieved June 1, 2018.
"Monthly Reports". World-Exchanges.org. World Federation of Exchanges. Archived from the
original on August 17, 2014. Retrieved June 3, 2015.
"Nasdaq – Business Solutions & Services". Business.nasdaq.com. Archived from the original on
October 20, 2016. Retrieved October 23, 2016.
Frequently Asked Questions. NASDAQ.com. NASDAQ, n.d. Web. December 23, 2001.
Archived February 13, 2011, at WebCite
Terrell, Ellen. "History of the American and Nasdaq Stock Exchanges". LOC.gov. Library of
Congress Business Reference Services. Archived from the original on April 14, 2013. Retrieved
April 27, 2013.
"Nasdaq.com Frequently Asked Questions". Nasdaq.com. Retrieved October 23, 2016.
Gilpin, Kenneth N. (July 3, 1987). "Company News: An Erratic Quarter for Stock Markets".
The New York Times. ISSN 0362-4331. Archived from the original on August 1, 2017.
Retrieved February 1, 2017.
Odekon, Mehmet (March 17, 2015). Booms and Busts: An Encyclopedia of Economic History
from the First Stock Market Crash of 1792 to the Current Global Economic Crisis: An
Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the Current
Global Economic Crisis. Routledge. ISBN 9781317475750. Archived from the original on
August 3, 2017.
"NASDAQ Composite daily index". Archived from the original on November 22, 2010.
Glassman, James K. (February 11, 2015). "3 Lessons for Investors From the Tech Bubble".
Kiplinger's Personal Finance. Archived from the original on April 15, 2017.
Walsh, Michelle. "Nasdaq Stock Market Becomes A National Securities Exchange; Changes
Market Designations". Archived from the original on December 17, 2013.
Lucchetti, Aaron; MacDonald, Alistair (May 26, 2007). "Nasdaq Lands OMX for $3.7 Billion;
Are More Merger Deals on the Way?". Wall Street Journal. ISSN 0099-9660. Archived from the
original on July 31, 2017. Retrieved July 21, 2017.
De la Merced, Michael J., "Nasdaq and ICE Hold Talks Over Potential N.Y.S.E. Bid" Archived
January 20, 2012, at the Wayback Machine., The New York Times Dealbook, February 18,
2011, 12:46 pm. Retrieved February 18, 2011.
Fraser, Michelle E., "Nasdaq May Ask CME or ICE for Help in NYSE Counterbid, WSJ Says"
Archived July 29, 2014, at the Wayback Machine., Bloomberg, February 26, 2011 9:30 AM ET.
Retrieved March 1, 2011.
"Easdaq Makes A Comeback As Equiduct". Archived from the original on February 13, 2011.
"Sustainable Stock Exchanges Initiative: Exchanges listing over 4,600 companies commit to
promoting sustainability". Reuters.com. Reuters. Archived from the original on May 13, 2014.
Retrieved May 13, 2014.
"Nasdaq's New CEO Attributes Her Success to an 'Eclectic' Career Path". Fortune. November
15, 2016. Archived from the original on November 17, 2016. Retrieved November 17, 2016.
Osipovich, Alexander (October 26, 2017). "Startup Exchange Cleared to Take on NYSE,
Nasdaq for Stock Listings". Wall Street Journal. New York City, United States. Archived from
the original on October 26, 2017. Retrieved October 26, 2017.
Alexander Osipovich; Dave Michaels; Gretchen Morgenson. "SEC Ruling Takes Aim at Stock-
Exchange Profits". Wall Street Journal. Retrieved 18 October 2018.
"SEC rules NYSE and Nasdaq did not justify data fee increases". Financial Times. Retrieved 18
October 2018.
Michaels, Dave (2018-10-19). "NYSE, Nasdaq Take It on the Chin in Washington". Wall Street
Journal. ISSN 0099-9660. Retrieved 2018-10-19.
"Order Book, Level 2 Market Data, and Depth of Market". Daytrading. About.com. Archived
from the original on February 13, 2011.
"Nasdaq Level III Quote". Archived from the original on April 13, 2014.
"Nasdaq Trading Schedule". Nasdaq.com. Archived from the original on April 17, 2014.
Retrieved April 20, 2014.
"Definition of 'Nasdaq SmallCap Market', now known as Nasdaq Capital Market".
Investopedia.com. Archived from the original on August 4, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Market Composite'". Investopedia.com. Archived from the
original on September 17, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Select Market Composite'". Investopedia.com. Archived from the
original on October 4, 2013. Retrieved August 25, 2013.
Pinto, Jerald E.; Henry, Elaine; Robinson, Thomas R.; Stowe, John D. (2010). Equity Asset
Valuation. CFA Institute Investment Series. 27 (2 ed.). John Wiley & Sons. p. 6. ISBN
9780470579657. Archived from the original on May 10, 2013. Retrieved March 4, 2013. [...]
NASDAQ-GS stands for 'Nasdaq Global Select Market,' [...]
"Measuring Worth – Measures of worth, inflation rates, saving calculator, relative value, worth
of a dollar, worth of a pound, purchasing power, gold prices, GDP, history of wages, average
wage". measuringworth.com. Archived from the original on October 4, 2015. Retrieved October
2, 2015.
External links
Official Website
vte
Nasdaq, Inc.
vte
Financial markets
vte
Major United States stock market indices
Categories: Stock exchanges in the United StatesElectronic trading platformsPrivate equity
portfolio companiesAmerican companies established in 19711971 establishments in New York
(state)Companies based in New York CityEconomy of New York CityFinancial services
companies established in 1971Financial services companies based in New York City
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NASDAQ
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Nasdaq

Type Stock exchange

Location One Liberty Plaza


165 Broadway, New York City, New York, U.S.

Founded February 4, 1971; 47 years ago


Owner Nasdaq, Inc.

Currency United States Dollar

No. of listings 3,321 (June 2018)[1]

Market cap
$10 trillion

Website Business.Nasdaq.com

The Nasdaq Stock Market (/ˈnæzˌdæk/ ( listen), also known simply as Nasdaq) is an American
stock exchange. It is the second-largest stock exchange in the world by market capitalization,
behind only the New York Stock Exchange located in the same city.[2] The exchange platform is
owned by Nasdaq, Inc.,[3] which also owns the Nasdaq Nordic (formerly known as OMX) and
Nasdaq Baltic stock market network and several U.S. stock and options exchanges
Contents
• 1History
o 1.11971–1999
o 1.22000–present
• 2Quote availability
• 3Trading schedule
• 4Market tiers
• 5Average annualized growth rate
• 6See also
• 7References
• 8External links
History[edit]
1971–1999[edit]
"Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated
Quotations.[4] It was founded in 1971 by the National Association of Securities Dealers
(NASD),[5] which divested itself of Nasdaq in a series of sales in 2000 and 2001. The Nasdaq
Stock Market is owned and operated by Nasdaq, Inc., the stock of which was listed on its own
securities exchange on July 2, 2002, under the ticker symbol NDAQ.

Former logo used from 1971 to 2014


The Nasdaq Stock Market began trading on February 8, 1971. It was the world's first electronic
stock market.[5] At first, it was merely a “quotation system” and did not provide a way to
perform electronic trades.[6][not in citation given]The Nasdaq Stock Market helped lower the
spread (the difference between the bid price and the ask price of the stock) but was unpopular
among brokerages which made much of their money on the spread.
The NASDAQ Stock Market eventually assumed the majority of major trades that had been
executed by the over-the-counter (OTC) system of trading, but there are still many securities
traded in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as
"OTC" in media reports[7] and also in the monthly Stock Guides (stock guides and procedures)
issued by Standard & Poor's Corporation.[citation needed]
Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and
volume reporting and automated trading systems. It was also the first stock market in the United
States to trade online, highlighting Nasdaq-traded companies and closing with the declaration
that the Nasdaq Stock Market is "the stock market for the next hundred years". The Nasdaq
Stock Market attracted new growth companies, including Microsoft, Apple, Cisco, Oracle and
Dell, and it helped modernize the IPO.
Its main index is the NASDAQ Composite, which has been published since its inception.
However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, which was
introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100
companies in terms of market capitalization.
In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first
intercontinental linkage of securities markets.[8] The National Association of Securities Dealers
spun off the Nasdaq Stock Market in 2000 to form a publicly traded company.

The NASDAQ Composite index spiked in the late 1990s and then fell sharply as a result of the
dot-com bubble.
2000–present[edit]

Studio
On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3227 by April
17,[9] and in the following 30 months fell 78% from its peak.[10]
In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed
national securities exchange.[11]
In 2007, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries,
expanded its global footprint, and changed its name to the NASDAQ OMX Group.[12]
To qualify for listing on the exchange, a company must be registered with the United States
Securities and Exchange Commission (SEC), must have at least three market makers (financial
firms that act as brokers or dealers for specific securities) and must meet minimum requirements
for assets, capital, public shares, and shareholders.
In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Börse,
speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a
counter-bid of their own for NYSE. NASDAQ OMX could be[when?] looking to acquire the
American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE
Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was
valued at $9.45 billion."[13] Late in the month, Nasdaq was reported to be considering asking
either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it
proceeded, an $11–12 billion counterbid.[14]
The European Association of Securities Dealers Automatic Quotation System (EASDAQ) was
founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in
2001 and became NASDAQ Europe. Operations were shut down, however, as a result of the
burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, and is
currently[when?] operating under Börse Berlin.[15]
On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable
Stock Exchanges initiative on the eve of the United Nations Conference on Sustainable
Development (Rio+20).[16]
In November 2016, Nasdaq Chief Operating Officer Adena Friedman was promoted to the role
of CEO, becoming the first woman to run a major exchange in the U.S.[17] In 2016, Nasdaq
earned $272 million in listings-related revenues.[18]
In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price
increases when selling market data.[19][20][21]
Quote availability[edit]
Nasdaq quotes are available at three levels:
• Level 1 shows the highest bid and lowest ask—inside quote.
• Level 2 shows all public quotes of market makers together with information of market
dealers wishing to buy or sell stock and recently executed orders.[22]
• Level 3 is used by the market makers and allows them to enter their quotes and execute
orders.[23]
Trading schedule[edit]
The Nasdaq Stock Market sessions eastern time are:
4:00 am to 9:30 am premarket session
9:30 am to 4:00 pm normal trading session
4:00 pm to 8:00 pm postmarket session[24]
Market tiers[edit]
The Nasdaq Stock Market has three different market tiers:
• Capital Market (small cap) is an equity market for companies that have relatively small
levels of market capitalization. Listing requirements for such "small cap" companies are less
stringent than for other Nasdaq markets that list larger companies with significantly higher
market capitalization.[25]
• Global Market (mid cap) is made up of stocks that represent the Nasdaq Global Market.
The Global Market consists of 1,450 stocks that meet Nasdaq's strict financial and liquidity
requirements, and corporate governance standards. The Global Market is less exclusive than the
Global Select Market.[26]
• Global Select Market (NASDAQ-GS large cap) is a market capitalization-weighted index
made up of US-based and international stocks that represent the Global Select Market
Composite. The Global Select Market consists of 1,200 stocks that meet Nasdaq's strict financial
and liquidity requirements and corporate governance standards. The Global Select Market is
more exclusive than the Global Market. Every October, the Nasdaq Listing Qualifications
Department reviews the Global Market Composite to determine if any of its stocks have become
eligible for listing on the Global Select Market.[27][28]
Average annualized growth rate[edit]
As of June 2015, the Nasdaq Stock Market had an average annualized growth rate of 9.24%
since its opening in February 1971. Since the end of the recession in June 2009 however, it has
increased by 18.29% per year.[29]
See also[edit]
• New York City portal
Wikimedia Commons has media related to NASDAQ.

• ACT (NASDAQ)
• Advanced Computerized Execution System
• Directors Desk
• Economy of New York City
• List of stock exchange mergers in the Americas
• List of stock exchanges
• List of stock exchanges in the Americas
• NASDAQ futures
• Nasdaq, Inc.
• NASDAQ-100
• NASDAQ Financial-100
• United States corporate law
References[edit]
1. Jump up^ "Nasdaq Companies". Archived from the original on February 13, 2011.
Retrieved June 1, 2018.
2. Jump up^ "Monthly Reports". World-Exchanges.org. World Federation of Exchanges.
Archived from the original on August 17, 2014. Retrieved June 3, 2015.
3. Jump up^ "Nasdaq – Business Solutions & Services". Business.nasdaq.com. Archived
from the original on October 20, 2016. Retrieved October 23,2016.
4. Jump up^ Frequently Asked Questions. NASDAQ.com. NASDAQ, n.d. Web. December
23, 2001. Archived February 13, 2011, at WebCite
5. ^ Jump up to:a b Terrell, Ellen. "History of the American and Nasdaq Stock Exchanges".
LOC.gov. Library of Congress Business Reference Services. Archived from the original on April
14, 2013. Retrieved April 27, 2013.
6. Jump up^ "Nasdaq.com Frequently Asked Questions". Nasdaq.com. Retrieved October
23, 2016.
7. Jump up^ Gilpin, Kenneth N. (July 3, 1987). "Company News: An Erratic Quarter for
Stock Markets". The New York Times. ISSN 0362-4331. Archived from the original on August
1, 2017. Retrieved February 1, 2017.
8. Jump up^ Odekon, Mehmet (March 17, 2015). Booms and Busts: An Encyclopedia of
Economic History from the First Stock Market Crash of 1792 to the Current Global Economic
Crisis: An Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the
Current Global Economic Crisis. Routledge. ISBN 9781317475750. Archived from the original
on August 3, 2017.
9. Jump up^ "NASDAQ Composite daily index". Archived from the original on November
22, 2010.
10. Jump up^ Glassman, James K. (February 11, 2015). "3 Lessons for Investors From the
Tech Bubble". Kiplinger's Personal Finance. Archived from the original on April 15, 2017.
11. Jump up^ Walsh, Michelle. "Nasdaq Stock Market Becomes A National Securities
Exchange; Changes Market Designations". Archived from the original on December 17, 2013.
12. Jump up^ Lucchetti, Aaron; MacDonald, Alistair (May 26, 2007). "Nasdaq Lands OMX
for $3.7 Billion; Are More Merger Deals on the Way?". Wall Street Journal. ISSN 0099-9660.
Archived from the original on July 31, 2017. Retrieved July 21, 2017.
13. Jump up^ De la Merced, Michael J., "Nasdaq and ICE Hold Talks Over Potential
N.Y.S.E. Bid" Archived January 20, 2012, at the Wayback Machine., The New York Times
Dealbook, February 18, 2011, 12:46 pm. Retrieved February 18, 2011.
14. Jump up^ Fraser, Michelle E., "Nasdaq May Ask CME or ICE for Help in NYSE
Counterbid, WSJ Says" Archived July 29, 2014, at the Wayback Machine., Bloomberg, February
26, 2011 9:30 AM ET. Retrieved March 1, 2011.
15. Jump up^ "Easdaq Makes A Comeback As Equiduct". Archived from the original on
February 13, 2011.
16. Jump up^ "Sustainable Stock Exchanges Initiative: Exchanges listing over 4,600
companies commit to promoting sustainability". Reuters.com. Reuters. Archived from the
original on May 13, 2014. Retrieved May 13, 2014.
17. Jump up^ "Nasdaq's New CEO Attributes Her Success to an 'Eclectic' Career Path".
Fortune. November 15, 2016. Archived from the original on November 17, 2016. Retrieved
November 17, 2016.
18. Jump up^ Osipovich, Alexander (October 26, 2017). "Startup Exchange Cleared to Take
on NYSE, Nasdaq for Stock Listings". Wall Street Journal. New York City, United States.
Archived from the original on October 26, 2017. Retrieved October 26, 2017.
19. Jump up^ Alexander Osipovich; Dave Michaels; Gretchen Morgenson. "SEC Ruling
Takes Aim at Stock-Exchange Profits". Wall Street Journal. Retrieved 18 October 2018.
20. Jump up^ "SEC rules NYSE and Nasdaq did not justify data fee increases". Financial
Times. Retrieved 18 October 2018.
21. Jump up^ Michaels, Dave (2018-10-19). "NYSE, Nasdaq Take It on the Chin in
Washington". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-10-19.
22. Jump up^ "Order Book, Level 2 Market Data, and Depth of Market". Daytrading.
About.com. Archived from the original on February 13, 2011.
23. Jump up^ "Nasdaq Level III Quote". Archived from the original on April 13, 2014.
24. Jump up^ "Nasdaq Trading Schedule". Nasdaq.com. Archived from the original on April
17, 2014. Retrieved April 20, 2014.
25. Jump up^ "Definition of 'Nasdaq SmallCap Market', now known as Nasdaq Capital
Market". Investopedia.com. Archived from the original on August 4, 2013. Retrieved August 25,
2013.
26. Jump up^ "Definition of 'Nasdaq Global Market Composite'". Investopedia.com.
Archived from the original on September 17, 2013. Retrieved August 25,2013.
27. Jump up^ "Definition of 'Nasdaq Global Select Market Composite'". Investopedia.com.
Archived from the original on October 4, 2013. Retrieved August 25, 2013.
28. Jump up^ Pinto, Jerald E.; Henry, Elaine; Robinson, Thomas R.; Stowe, John D. (2010).
Equity Asset Valuation. CFA Institute Investment Series. 27 (2 ed.). John Wiley & Sons. p. 6.
ISBN 9780470579657. Archived from the original on May 10, 2013. Retrieved March 4, 2013.
[...] NASDAQ-GS stands for 'Nasdaq Global Select Market,' [...]
29. Jump up^ "Measuring Worth – Measures of worth, inflation rates, saving calculator,
relative value, worth of a dollar, worth of a pound, purchasing power, gold prices, GDP, history
of wages, average wage". measuringworth.com. Archived from the original on October 4, 2015.
Retrieved October 2, 2015.
External links[edit]
• Official Website
show
• v
• t
• e
Nasdaq, Inc.

show
• v
• t
• e
Financial markets

show
• v
• t
• e
Major United States stock market indices

Categories:
• Stock exchanges in the United States
• Electronic trading platforms
• Private equity portfolio companies
• American companies established in 1971
• 1971 establishments in New York (state)
• Companies based in New York City
• Economy of New York City
• Financial services companies established in 1971
• Financial services companies based in New York City
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preservation service enables verifiability of claims supported by the cited sources even when the
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Edit links
• This page was last edited on 5 November 2018, at 20:24 (UTC).
• Text is available under the Creative Commons Attribution-ShareAlike License;
additional terms may apply. By using this site, you agree to the Terms of Use and Privacy Policy.
Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc., a non-profit
organization.
• Privacy policy
• About Wikipedia
• Disclaimers
• Contact Wikipedia
• Developers
• Cookie statement
• Mobile view

WebCite is an on-demand archiving service, designed to digitally preserve scientific and


educationally important material on the web by making snapshots of Internet contents as they
existed at the time when a blogger, or a scholar or a Wikipedia editor cited or quoted from it. The
preservation service enables verifiability of claims supported by the cited sources even when the
original web pages are being revised, removed, or disappear for other reasons, an effect known
as link rot.
64 more

• Cookie statement
• Mobile view

WebCite is an on-demand archiving service, designed to digitally preserve scientific and


educationally important material on the web by making snapshots of Internet contents as they
existed at the time when a blogger, or a scholar or a Wikipedia editor cited or quoted from it. The
preservation service enables verifiability of claims supported by the cited sources even when the
original web pages are being revised, removed, or disappear for other reasons, an effect known
as link rot.

64 more

Founded February 4, 1971; 47 years ago


Owner Nasdaq, Inc.
Currency United States Dollar
No. of listings 3,321 (June 2018)[1]
Market cap Increase $10 trillion
Website Business.Nasdaq.com
The Nasdaq Stock Market (/ˈnæzˌdæk/ (About this sound listen), also known simply as Nasdaq)
is an American stock exchange. It is the second-largest stock exchange in the world by market
capitalization, behind only the New York Stock Exchange located in the same city.[2] The
exchange platform is owned by Nasdaq, Inc.,[3] which also owns the Nasdaq Nordic (formerly
known as OMX) and Nasdaq Baltic stock market network and several U.S. stock and options
exchanges

Contents
1 History
1.1 1971–1999
1.2 2000–present
2 Quote availability
3 Trading schedule
4 Market tiers
5 Average annualized growth rate
6 See also
7 References
8 External links
History
1971–1999
"Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated
Quotations.[4] It was founded in 1971 by the National Association of Securities Dealers
(NASD),[5] which divested itself of Nasdaq in a series of sales in 2000 and 2001. The Nasdaq
Stock Market is owned and operated by Nasdaq, Inc., the stock of which was listed on its own
securities exchange on July 2, 2002, under the ticker symbol NDAQ.

Former logo used from 1971 to 2014


The Nasdaq Stock Market began trading on February 8, 1971. It was the world's first electronic
stock market.[5] At first, it was merely a “quotation system” and did not provide a way to
perform electronic trades.[6][not in citation given] The Nasdaq Stock Market helped lower the
spread (the difference between the bid price and the ask price of the stock) but was unpopular
among brokerages which made much of their money on the spread.

The NASDAQ Stock Market eventually assumed the majority of major trades that had been
executed by the over-the-counter (OTC) system of trading, but there are still many securities
traded in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as
"OTC" in media reports[7] and also in the monthly Stock Guides (stock guides and procedures)
issued by Standard & Poor's Corporation.[citation needed]

Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and
volume reporting and automated trading systems. It was also the first stock market in the United
States to trade online, highlighting Nasdaq-traded companies and closing with the declaration
that the Nasdaq Stock Market is "the stock market for the next hundred years". The Nasdaq
Stock Market attracted new growth companies, including Microsoft, Apple, Cisco, Oracle and
Dell, and it helped modernize the IPO.

Its main index is the NASDAQ Composite, which has been published since its inception.
However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, which was
introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100
companies in terms of market capitalization.

In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first
intercontinental linkage of securities markets.[8] The National Association of Securities Dealers
spun off the Nasdaq Stock Market in 2000 to form a publicly traded company.

The NASDAQ Composite index spiked in the late 1990s and then fell sharply as a result of the
dot-com bubble.
2000–present

Studio
On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3227 by April
17,[9] and in the following 30 months fell 78% from its peak.[10]
In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed
national securities exchange.[11]

In 2007, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries,
expanded its global footprint, and changed its name to the NASDAQ OMX Group.[12]

To qualify for listing on the exchange, a company must be registered with the United States
Securities and Exchange Commission (SEC), must have at least three market makers (financial
firms that act as brokers or dealers for specific securities) and must meet minimum requirements
for assets, capital, public shares, and shareholders.

In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Börse,
speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a
counter-bid of their own for NYSE. NASDAQ OMX could be[when?] looking to acquire the
American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE
Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was
valued at $9.45 billion."[13] Late in the month, Nasdaq was reported to be considering asking
either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it
proceeded, an $11–12 billion counterbid.[14]

The European Association of Securities Dealers Automatic Quotation System (EASDAQ) was
founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in
2001 and became NASDAQ Europe. Operations were shut down, however, as a result of the
burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, and is
currently[when?] operating under Börse Berlin.[15]

On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable
Stock Exchanges initiative on the eve of the United Nations Conference on Sustainable
Development (Rio+20).[16]

In November 2016, Nasdaq Chief Operating Officer Adena Friedman was promoted to the role
of CEO, becoming the first woman to run a major exchange in the U.S.[17] In 2016, Nasdaq
earned $272 million in listings-related revenues.[18]

In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price
increases when selling market data.[19][20][21]

Quote availability
Nasdaq quotes are available at three levels:

Level 1 shows the highest bid and lowest ask—inside quote.


Level 2 shows all public quotes of market makers together with information of market dealers
wishing to buy or sell stock and recently executed orders.[22]
Level 3 is used by the market makers and allows them to enter their quotes and execute
orders.[23]
Trading schedule
The Nasdaq Stock Market sessions eastern time are:

4:00 am to 9:30 am premarket session

9:30 am to 4:00 pm normal trading session

4:00 pm to 8:00 pm postmarket session[24]

Market tiers
The Nasdaq Stock Market has three different market tiers:

Capital Market (small cap) is an equity market for companies that have relatively small levels of
market capitalization. Listing requirements for such "small cap" companies are less stringent
than for other Nasdaq markets that list larger companies with significantly higher market
capitalization.[25]
Global Market (mid cap) is made up of stocks that represent the Nasdaq Global Market. The
Global Market consists of 1,450 stocks that meet Nasdaq's strict financial and liquidity
requirements, and corporate governance standards. The Global Market is less exclusive than the
Global Select Market.[26]
Global Select Market (NASDAQ-GS large cap) is a market capitalization-weighted index made
up of US-based and international stocks that represent the Global Select Market Composite. The
Global Select Market consists of 1,200 stocks that meet Nasdaq's strict financial and liquidity
requirements and corporate governance standards. The Global Select Market is more exclusive
than the Global Market. Every October, the Nasdaq Listing Qualifications Department reviews
the Global Market Composite to determine if any of its stocks have become eligible for listing on
the Global Select Market.[27][28]
Average annualized growth rate
As of June 2015, the Nasdaq Stock Market had an average annualized growth rate of 9.24%
since its opening in February 1971. Since the end of the recession in June 2009 however, it has
increased by 18.29% per year.[29]

See also
flag New York City portal
Wikimedia Commons has media related to NASDAQ.
ACT (NASDAQ)
Advanced Computerized Execution System
Directors Desk
Economy of New York City
List of stock exchange mergers in the Americas
List of stock exchanges
List of stock exchanges in the Americas
NASDAQ futures
Nasdaq, Inc.
NASDAQ-100
NASDAQ Financial-100
United States corporate law
References
"Nasdaq Companies". Archived from the original on February 13, 2011. Retrieved June 1, 2018.
"Monthly Reports". World-Exchanges.org. World Federation of Exchanges. Archived from the
original on August 17, 2014. Retrieved June 3, 2015.
"Nasdaq – Business Solutions & Services". Business.nasdaq.com. Archived from the original on
October 20, 2016. Retrieved October 23, 2016.
Frequently Asked Questions. NASDAQ.com. NASDAQ, n.d. Web. December 23, 2001.
Archived February 13, 2011, at WebCite
Terrell, Ellen. "History of the American and Nasdaq Stock Exchanges". LOC.gov. Library of
Congress Business Reference Services. Archived from the original on April 14, 2013. Retrieved
April 27, 2013.
"Nasdaq.com Frequently Asked Questions". Nasdaq.com. Retrieved October 23, 2016.
Gilpin, Kenneth N. (July 3, 1987). "Company News: An Erratic Quarter for Stock Markets".
The New York Times. ISSN 0362-4331. Archived from the original on August 1, 2017.
Retrieved February 1, 2017.
Odekon, Mehmet (March 17, 2015). Booms and Busts: An Encyclopedia of Economic History
from the First Stock Market Crash of 1792 to the Current Global Economic Crisis: An
Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the Current
Global Economic Crisis. Routledge. ISBN 9781317475750. Archived from the original on
August 3, 2017.
"NASDAQ Composite daily index". Archived from the original on November 22, 2010.
Glassman, James K. (February 11, 2015). "3 Lessons for Investors From the Tech Bubble".
Kiplinger's Personal Finance. Archived from the original on April 15, 2017.
Walsh, Michelle. "Nasdaq Stock Market Becomes A National Securities Exchange; Changes
Market Designations". Archived from the original on December 17, 2013.
Lucchetti, Aaron; MacDonald, Alistair (May 26, 2007). "Nasdaq Lands OMX for $3.7 Billion;
Are More Merger Deals on the Way?". Wall Street Journal. ISSN 0099-9660. Archived from the
original on July 31, 2017. Retrieved July 21, 2017.
De la Merced, Michael J., "Nasdaq and ICE Hold Talks Over Potential N.Y.S.E. Bid" Archived
January 20, 2012, at the Wayback Machine., The New York Times Dealbook, February 18,
2011, 12:46 pm. Retrieved February 18, 2011.
Fraser, Michelle E., "Nasdaq May Ask CME or ICE for Help in NYSE Counterbid, WSJ Says"
Archived July 29, 2014, at the Wayback Machine., Bloomberg, February 26, 2011 9:30 AM ET.
Retrieved March 1, 2011.
"Easdaq Makes A Comeback As Equiduct". Archived from the original on February 13, 2011.
"Sustainable Stock Exchanges Initiative: Exchanges listing over 4,600 companies commit to
promoting sustainability". Reuters.com. Reuters. Archived from the original on May 13, 2014.
Retrieved May 13, 2014.
"Nasdaq's New CEO Attributes Her Success to an 'Eclectic' Career Path". Fortune. November
15, 2016. Archived from the original on November 17, 2016. Retrieved November 17, 2016.
Osipovich, Alexander (October 26, 2017). "Startup Exchange Cleared to Take on NYSE,
Nasdaq for Stock Listings". Wall Street Journal. New York City, United States. Archived from
the original on October 26, 2017. Retrieved October 26, 2017.
Alexander Osipovich; Dave Michaels; Gretchen Morgenson. "SEC Ruling Takes Aim at Stock-
Exchange Profits". Wall Street Journal. Retrieved 18 October 2018.
"SEC rules NYSE and Nasdaq did not justify data fee increases". Financial Times. Retrieved 18
October 2018.
Michaels, Dave (2018-10-19). "NYSE, Nasdaq Take It on the Chin in Washington". Wall Street
Journal. ISSN 0099-9660. Retrieved 2018-10-19.
"Order Book, Level 2 Market Data, and Depth of Market". Daytrading. About.com. Archived
from the original on February 13, 2011.
"Nasdaq Level III Quote". Archived from the original on April 13, 2014.
"Nasdaq Trading Schedule". Nasdaq.com. Archived from the original on April 17, 2014.
Retrieved April 20, 2014.
"Definition of 'Nasdaq SmallCap Market', now known as Nasdaq Capital Market".
Investopedia.com. Archived from the original on August 4, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Market Composite'". Investopedia.com. Archived from the
original on September 17, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Select Market Composite'". Investopedia.com. Archived from the
original on October 4, 2013. Retrieved August 25, 2013.
Pinto, Jerald E.; Henry, Elaine; Robinson, Thomas R.; Stowe, John D. (2010). Equity Asset
Valuation. CFA Institute Investment Series. 27 (2 ed.). John Wiley & Sons. p. 6. ISBN
9780470579657. Archived from the original on May 10, 2013. Retrieved March 4, 2013. [...]
NASDAQ-GS stands for 'Nasdaq Global Select Market,' [...]
"Measuring Worth – Measures of worth, inflation rates, saving calculator, relative value, worth
of a dollar, worth of a pound, purchasing power, gold prices, GDP, history of wages, average
wage". measuringworth.com. Archived from the original on October 4, 2015. Retrieved October
2, 2015.
External links
Official Website
vte
Nasdaq, Inc.
vte
Financial markets
vte
Major United States stock market indices
Categories: Stock exchanges in the United StatesElectronic trading platformsPrivate equity
portfolio companiesAmerican companies established in 19711971 establishments in New York
(state)Companies based in New York CityEconomy of New York CityFinancial services
companies established in 1971Financial services companies based in New York City
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NASDAQ
From Wikipedia, the free encyclopedia
Jump to navigationJump to search
Nasdaq

Type Stock exchange

Location One Liberty Plaza


165 Broadway, New York City, New York, U.S.

Founded February 4, 1971; 47 years ago


Owner Nasdaq, Inc.

Currency United States Dollar

No. of listings 3,321 (June 2018)[1]

Market cap
$10 trillion

Website Business.Nasdaq.com

The Nasdaq Stock Market (/ˈnæzˌdæk/ ( listen), also known simply as Nasdaq) is an American
stock exchange. It is the second-largest stock exchange in the world by market capitalization,
behind only the New York Stock Exchange located in the same city.[2] The exchange platform is
owned by Nasdaq, Inc.,[3] which also owns the Nasdaq Nordic (formerly known as OMX) and
Nasdaq Baltic stock market network and several U.S. stock and options exchanges
Contents
• 1History
o 1.11971–1999
o 1.22000–present
• 2Quote availability
• 3Trading schedule
• 4Market tiers
• 5Average annualized growth rate
• 6See also
• 7References
• 8External links
History[edit]
1971–1999[edit]
"Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated
Quotations.[4] It was founded in 1971 by the National Association of Securities Dealers
(NASD),[5] which divested itself of Nasdaq in a series of sales in 2000 and 2001. The Nasdaq
Stock Market is owned and operated by Nasdaq, Inc., the stock of which was listed on its own
securities exchange on July 2, 2002, under the ticker symbol NDAQ.

Former logo used from 1971 to 2014


The Nasdaq Stock Market began trading on February 8, 1971. It was the world's first electronic
stock market.[5] At first, it was merely a “quotation system” and did not provide a way to
perform electronic trades.[6][not in citation given]The Nasdaq Stock Market helped lower the
spread (the difference between the bid price and the ask price of the stock) but was unpopular
among brokerages which made much of their money on the spread.
The NASDAQ Stock Market eventually assumed the majority of major trades that had been
executed by the over-the-counter (OTC) system of trading, but there are still many securities
traded in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as
"OTC" in media reports[7] and also in the monthly Stock Guides (stock guides and procedures)
issued by Standard & Poor's Corporation.[citation needed]
Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and
volume reporting and automated trading systems. It was also the first stock market in the United
States to trade online, highlighting Nasdaq-traded companies and closing with the declaration
that the Nasdaq Stock Market is "the stock market for the next hundred years". The Nasdaq
Stock Market attracted new growth companies, including Microsoft, Apple, Cisco, Oracle and
Dell, and it helped modernize the IPO.
Its main index is the NASDAQ Composite, which has been published since its inception.
However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, which was
introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100
companies in terms of market capitalization.
In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first
intercontinental linkage of securities markets.[8] The National Association of Securities Dealers
spun off the Nasdaq Stock Market in 2000 to form a publicly traded company.

The NASDAQ Composite index spiked in the late 1990s and then fell sharply as a result of the
dot-com bubble.
2000–present[edit]

Studio
On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3227 by April
17,[9] and in the following 30 months fell 78% from its peak.[10]
In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed
national securities exchange.[11]
In 2007, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries,
expanded its global footprint, and changed its name to the NASDAQ OMX Group.[12]
To qualify for listing on the exchange, a company must be registered with the United States
Securities and Exchange Commission (SEC), must have at least three market makers (financial
firms that act as brokers or dealers for specific securities) and must meet minimum requirements
for assets, capital, public shares, and shareholders.
In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Börse,
speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a
counter-bid of their own for NYSE. NASDAQ OMX could be[when?] looking to acquire the
American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE
Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was
valued at $9.45 billion."[13] Late in the month, Nasdaq was reported to be considering asking
either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it
proceeded, an $11–12 billion counterbid.[14]
The European Association of Securities Dealers Automatic Quotation System (EASDAQ) was
founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in
2001 and became NASDAQ Europe. Operations were shut down, however, as a result of the
burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, and is
currently[when?] operating under Börse Berlin.[15]
On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable
Stock Exchanges initiative on the eve of the United Nations Conference on Sustainable
Development (Rio+20).[16]
In November 2016, Nasdaq Chief Operating Officer Adena Friedman was promoted to the role
of CEO, becoming the first woman to run a major exchange in the U.S.[17] In 2016, Nasdaq
earned $272 million in listings-related revenues.[18]
In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price
increases when selling market data.[19][20][21]
Quote availability[edit]
Nasdaq quotes are available at three levels:
• Level 1 shows the highest bid and lowest ask—inside quote.
• Level 2 shows all public quotes of market makers together with information of market
dealers wishing to buy or sell stock and recently executed orders.[22]
• Level 3 is used by the market makers and allows them to enter their quotes and execute
orders.[23]
Trading schedule[edit]
The Nasdaq Stock Market sessions eastern time are:
4:00 am to 9:30 am premarket session
9:30 am to 4:00 pm normal trading session
4:00 pm to 8:00 pm postmarket session[24]
Market tiers[edit]
The Nasdaq Stock Market has three different market tiers:
• Capital Market (small cap) is an equity market for companies that have relatively small
levels of market capitalization. Listing requirements for such "small cap" companies are less
stringent than for other Nasdaq markets that list larger companies with significantly higher
market capitalization.[25]
• Global Market (mid cap) is made up of stocks that represent the Nasdaq Global Market.
The Global Market consists of 1,450 stocks that meet Nasdaq's strict financial and liquidity
requirements, and corporate governance standards. The Global Market is less exclusive than the
Global Select Market.[26]
• Global Select Market (NASDAQ-GS large cap) is a market capitalization-weighted index
made up of US-based and international stocks that represent the Global Select Market
Composite. The Global Select Market consists of 1,200 stocks that meet Nasdaq's strict financial
and liquidity requirements and corporate governance standards. The Global Select Market is
more exclusive than the Global Market. Every October, the Nasdaq Listing Qualifications
Department reviews the Global Market Composite to determine if any of its stocks have become
eligible for listing on the Global Select Market.[27][28]
Average annualized growth rate[edit]
As of June 2015, the Nasdaq Stock Market had an average annualized growth rate of 9.24%
since its opening in February 1971. Since the end of the recession in June 2009 however, it has
increased by 18.29% per year.[29]
See also[edit]
• New York City portal
Wikimedia Commons has media related to NASDAQ.

• ACT (NASDAQ)
• Advanced Computerized Execution System
• Directors Desk
• Economy of New York City
• List of stock exchange mergers in the Americas
• List of stock exchanges
• List of stock exchanges in the Americas
• NASDAQ futures
• Nasdaq, Inc.
• NASDAQ-100
• NASDAQ Financial-100
• United States corporate law
References[edit]
1. Jump up^ "Nasdaq Companies". Archived from the original on February 13, 2011.
Retrieved June 1, 2018.
2. Jump up^ "Monthly Reports". World-Exchanges.org. World Federation of Exchanges.
Archived from the original on August 17, 2014. Retrieved June 3, 2015.
3. Jump up^ "Nasdaq – Business Solutions & Services". Business.nasdaq.com. Archived
from the original on October 20, 2016. Retrieved October 23,2016.
4. Jump up^ Frequently Asked Questions. NASDAQ.com. NASDAQ, n.d. Web. December
23, 2001. Archived February 13, 2011, at WebCite
5. ^ Jump up to:a b Terrell, Ellen. "History of the American and Nasdaq Stock Exchanges".
LOC.gov. Library of Congress Business Reference Services. Archived from the original on April
14, 2013. Retrieved April 27, 2013.
6. Jump up^ "Nasdaq.com Frequently Asked Questions". Nasdaq.com. Retrieved October
23, 2016.
7. Jump up^ Gilpin, Kenneth N. (July 3, 1987). "Company News: An Erratic Quarter for
Stock Markets". The New York Times. ISSN 0362-4331. Archived from the original on August
1, 2017. Retrieved February 1, 2017.
8. Jump up^ Odekon, Mehmet (March 17, 2015). Booms and Busts: An Encyclopedia of
Economic History from the First Stock Market Crash of 1792 to the Current Global Economic
Crisis: An Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the
Current Global Economic Crisis. Routledge. ISBN 9781317475750. Archived from the original
on August 3, 2017.
9. Jump up^ "NASDAQ Composite daily index". Archived from the original on November
22, 2010.
10. Jump up^ Glassman, James K. (February 11, 2015). "3 Lessons for Investors From the
Tech Bubble". Kiplinger's Personal Finance. Archived from the original on April 15, 2017.
11. Jump up^ Walsh, Michelle. "Nasdaq Stock Market Becomes A National Securities
Exchange; Changes Market Designations". Archived from the original on December 17, 2013.
12. Jump up^ Lucchetti, Aaron; MacDonald, Alistair (May 26, 2007). "Nasdaq Lands OMX
for $3.7 Billion; Are More Merger Deals on the Way?". Wall Street Journal. ISSN 0099-9660.
Archived from the original on July 31, 2017. Retrieved July 21, 2017.
13. Jump up^ De la Merced, Michael J., "Nasdaq and ICE Hold Talks Over Potential
N.Y.S.E. Bid" Archived January 20, 2012, at the Wayback Machine., The New York Times
Dealbook, February 18, 2011, 12:46 pm. Retrieved February 18, 2011.
14. Jump up^ Fraser, Michelle E., "Nasdaq May Ask CME or ICE for Help in NYSE
Counterbid, WSJ Says" Archived July 29, 2014, at the Wayback Machine., Bloomberg, February
26, 2011 9:30 AM ET. Retrieved March 1, 2011.
15. Jump up^ "Easdaq Makes A Comeback As Equiduct". Archived from the original on
February 13, 2011.
16. Jump up^ "Sustainable Stock Exchanges Initiative: Exchanges listing over 4,600
companies commit to promoting sustainability". Reuters.com. Reuters. Archived from the
original on May 13, 2014. Retrieved May 13, 2014.
17. Jump up^ "Nasdaq's New CEO Attributes Her Success to an 'Eclectic' Career Path".
Fortune. November 15, 2016. Archived from the original on November 17, 2016. Retrieved
November 17, 2016.
18. Jump up^ Osipovich, Alexander (October 26, 2017). "Startup Exchange Cleared to Take
on NYSE, Nasdaq for Stock Listings". Wall Street Journal. New York City, United States.
Archived from the original on October 26, 2017. Retrieved October 26, 2017.
19. Jump up^ Alexander Osipovich; Dave Michaels; Gretchen Morgenson. "SEC Ruling
Takes Aim at Stock-Exchange Profits". Wall Street Journal. Retrieved 18 October 2018.
20. Jump up^ "SEC rules NYSE and Nasdaq did not justify data fee increases". Financial
Times. Retrieved 18 October 2018.
21. Jump up^ Michaels, Dave (2018-10-19). "NYSE, Nasdaq Take It on the Chin in
Washington". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-10-19.
22. Jump up^ "Order Book, Level 2 Market Data, and Depth of Market". Daytrading.
About.com. Archived from the original on February 13, 2011.
23. Jump up^ "Nasdaq Level III Quote". Archived from the original on April 13, 2014.
24. Jump up^ "Nasdaq Trading Schedule". Nasdaq.com. Archived from the original on April
17, 2014. Retrieved April 20, 2014.
25. Jump up^ "Definition of 'Nasdaq SmallCap Market', now known as Nasdaq Capital
Market". Investopedia.com. Archived from the original on August 4, 2013. Retrieved August 25,
2013.
26. Jump up^ "Definition of 'Nasdaq Global Market Composite'". Investopedia.com.
Archived from the original on September 17, 2013. Retrieved August 25,2013.
27. Jump up^ "Definition of 'Nasdaq Global Select Market Composite'". Investopedia.com.
Archived from the original on October 4, 2013. Retrieved August 25, 2013.
28. Jump up^ Pinto, Jerald E.; Henry, Elaine; Robinson, Thomas R.; Stowe, John D. (2010).
Equity Asset Valuation. CFA Institute Investment Series. 27 (2 ed.). John Wiley & Sons. p. 6.
ISBN 9780470579657. Archived from the original on May 10, 2013. Retrieved March 4, 2013.
[...] NASDAQ-GS stands for 'Nasdaq Global Select Market,' [...]
29. Jump up^ "Measuring Worth – Measures of worth, inflation rates, saving calculator,
relative value, worth of a dollar, worth of a pound, purchasing power, gold prices, GDP, history
of wages, average wage". measuringworth.com. Archived from the original on October 4, 2015.
Retrieved October 2, 2015.
External links[edit]
• Official Website
show
• v
• t
• e
Nasdaq, Inc.

show
• v
• t
• e
Financial markets

show
• v
• t
• e
Major United States stock market indices

Categories:
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NASDAQ
From Wikipedia, the free encyclopedia
Jump to navigationJump to search
Nasdaq
Nasdaq logo.svg
Type Stock exchange
Location One Liberty Plaza
165 Broadway, New York City, New York, U.S.
Founded February 4, 1971; 47 years ago
Owner Nasdaq, Inc.
Currency United States Dollar
No. of listings 3,321 (June 2018)[1]
Market cap Increase $10 trillion
Website Business.Nasdaq.com
The Nasdaq Stock Market (/ˈnæzˌdæk/ (About this sound listen), also known simply as Nasdaq)
is an American stock exchange. It is the second-largest stock exchange in the world by market
capitalization, behind only the New York Stock Exchange located in the same city.[2] The
exchange platform is owned by Nasdaq, Inc.,[3] which also owns the Nasdaq Nordic (formerly
known as OMX) and Nasdaq Baltic stock market network and several U.S. stock and options
exchanges

Contents
1 History
1.1 1971–1999
1.2 2000–present
2 Quote availability
3 Trading schedule
4 Market tiers
5 Average annualized growth rate
6 See also
7 References
8 External links
History
1971–1999
"Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated
Quotations.[4] It was founded in 1971 by the National Association of Securities Dealers
(NASD),[5] which divested itself of Nasdaq in a series of sales in 2000 and 2001. The Nasdaq
Stock Market is owned and operated by Nasdaq, Inc., the stock of which was listed on its own
securities exchange on July 2, 2002, under the ticker symbol NDAQ.
Former logo used from 1971 to 2014
The Nasdaq Stock Market began trading on February 8, 1971. It was the world's first electronic
stock market.[5] At first, it was merely a “quotation system” and did not provide a way to
perform electronic trades.[6][not in citation given] The Nasdaq Stock Market helped lower the
spread (the difference between the bid price and the ask price of the stock) but was unpopular
among brokerages which made much of their money on the spread.

The NASDAQ Stock Market eventually assumed the majority of major trades that had been
executed by the over-the-counter (OTC) system of trading, but there are still many securities
traded in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as
"OTC" in media reports[7] and also in the monthly Stock Guides (stock guides and procedures)
issued by Standard & Poor's Corporation.[citation needed]

Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and
volume reporting and automated trading systems. It was also the first stock market in the United
States to trade online, highlighting Nasdaq-traded companies and closing with the declaration
that the Nasdaq Stock Market is "the stock market for the next hundred years". The Nasdaq
Stock Market attracted new growth companies, including Microsoft, Apple, Cisco, Oracle and
Dell, and it helped modernize the IPO.

Its main index is the NASDAQ Composite, which has been published since its inception.
However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, which was
introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100
companies in terms of market capitalization.

In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first
intercontinental linkage of securities markets.[8] The National Association of Securities Dealers
spun off the Nasdaq Stock Market in 2000 to form a publicly traded company.

The NASDAQ Composite index spiked in the late 1990s and then fell sharply as a result of the
dot-com bubble.
2000–present

Studio
On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3227 by April
17,[9] and in the following 30 months fell 78% from its peak.[10]

In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed
national securities exchange.[11]

In 2007, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries,
expanded its global footprint, and changed its name to the NASDAQ OMX Group.[12]
To qualify for listing on the exchange, a company must be registered with the United States
Securities and Exchange Commission (SEC), must have at least three market makers (financial
firms that act as brokers or dealers for specific securities) and must meet minimum requirements
for assets, capital, public shares, and shareholders.

In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Börse,
speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a
counter-bid of their own for NYSE. NASDAQ OMX could be[when?] looking to acquire the
American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE
Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was
valued at $9.45 billion."[13] Late in the month, Nasdaq was reported to be considering asking
either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it
proceeded, an $11–12 billion counterbid.[14]

The European Association of Securities Dealers Automatic Quotation System (EASDAQ) was
founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in
2001 and became NASDAQ Europe. Operations were shut down, however, as a result of the
burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, and is
currently[when?] operating under Börse Berlin.[15]

On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable
Stock Exchanges initiative on the eve of the United Nations Conference on Sustainable
Development (Rio+20).[16]

In November 2016, Nasdaq Chief Operating Officer Adena Friedman was promoted to the role
of CEO, becoming the first woman to run a major exchange in the U.S.[17] In 2016, Nasdaq
earned $272 million in listings-related revenues.[18]

In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price
increases when selling market data.[19][20][21]

Quote availability
Nasdaq quotes are available at three levels:

Level 1 shows the highest bid and lowest ask—inside quote.


Level 2 shows all public quotes of market makers together with information of market dealers
wishing to buy or sell stock and recently executed orders.[22]
Level 3 is used by the market makers and allows them to enter their quotes and execute
orders.[23]
Trading schedule
The Nasdaq Stock Market sessions eastern time are:

4:00 am to 9:30 am premarket session

9:30 am to 4:00 pm normal trading session


4:00 pm to 8:00 pm postmarket session[24]

Market tiers
The Nasdaq Stock Market has three different market tiers:

Capital Market (small cap) is an equity market for companies that have relatively small levels of
market capitalization. Listing requirements for such "small cap" companies are less stringent
than for other Nasdaq markets that list larger companies with significantly higher market
capitalization.[25]
Global Market (mid cap) is made up of stocks that represent the Nasdaq Global Market. The
Global Market consists of 1,450 stocks that meet Nasdaq's strict financial and liquidity
requirements, and corporate governance standards. The Global Market is less exclusive than the
Global Select Market.[26]
Global Select Market (NASDAQ-GS large cap) is a market capitalization-weighted index made
up of US-based and international stocks that represent the Global Select Market Composite. The
Global Select Market consists of 1,200 stocks that meet Nasdaq's strict financial and liquidity
requirements and corporate governance standards. The Global Select Market is more exclusive
than the Global Market. Every October, the Nasdaq Listing Qualifications Department reviews
the Global Market Composite to determine if any of its stocks have become eligible for listing on
the Global Select Market.[27][28]
Average annualized growth rate
As of June 2015, the Nasdaq Stock Market had an average annualized growth rate of 9.24%
since its opening in February 1971. Since the end of the recession in June 2009 however, it has
increased by 18.29% per year.[29]

See also
flag New York City portal
Wikimedia Commons has media related to NASDAQ.
ACT (NASDAQ)
Advanced Computerized Execution System
Directors Desk
Economy of New York City
List of stock exchange mergers in the Americas
List of stock exchanges
List of stock exchanges in the Americas
NASDAQ futures
Nasdaq, Inc.
NASDAQ-100
NASDAQ Financial-100
United States corporate law
References
"Nasdaq Companies". Archived from the original on February 13, 2011. Retrieved June 1, 2018.
"Monthly Reports". World-Exchanges.org. World Federation of Exchanges. Archived from the
original on August 17, 2014. Retrieved June 3, 2015.
"Nasdaq – Business Solutions & Services". Business.nasdaq.com. Archived from the original on
October 20, 2016. Retrieved October 23, 2016.
Frequently Asked Questions. NASDAQ.com. NASDAQ, n.d. Web. December 23, 2001.
Archived February 13, 2011, at WebCite
Terrell, Ellen. "History of the American and Nasdaq Stock Exchanges". LOC.gov. Library of
Congress Business Reference Services. Archived from the original on April 14, 2013. Retrieved
April 27, 2013.
"Nasdaq.com Frequently Asked Questions". Nasdaq.com. Retrieved October 23, 2016.
Gilpin, Kenneth N. (July 3, 1987). "Company News: An Erratic Quarter for Stock Markets".
The New York Times. ISSN 0362-4331. Archived from the original on August 1, 2017.
Retrieved February 1, 2017.
Odekon, Mehmet (March 17, 2015). Booms and Busts: An Encyclopedia of Economic History
from the First Stock Market Crash of 1792 to the Current Global Economic Crisis: An
Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the Current
Global Economic Crisis. Routledge. ISBN 9781317475750. Archived from the original on
August 3, 2017.
"NASDAQ Composite daily index". Archived from the original on November 22, 2010.
Glassman, James K. (February 11, 2015). "3 Lessons for Investors From the Tech Bubble".
Kiplinger's Personal Finance. Archived from the original on April 15, 2017.
Walsh, Michelle. "Nasdaq Stock Market Becomes A National Securities Exchange; Changes
Market Designations". Archived from the original on December 17, 2013.
Lucchetti, Aaron; MacDonald, Alistair (May 26, 2007). "Nasdaq Lands OMX for $3.7 Billion;
Are More Merger Deals on the Way?". Wall Street Journal. ISSN 0099-9660. Archived from the
original on July 31, 2017. Retrieved July 21, 2017.
De la Merced, Michael J., "Nasdaq and ICE Hold Talks Over Potential N.Y.S.E. Bid" Archived
January 20, 2012, at the Wayback Machine., The New York Times Dealbook, February 18,
2011, 12:46 pm. Retrieved February 18, 2011.
Fraser, Michelle E., "Nasdaq May Ask CME or ICE for Help in NYSE Counterbid, WSJ Says"
Archived July 29, 2014, at the Wayback Machine., Bloomberg, February 26, 2011 9:30 AM ET.
Retrieved March 1, 2011.
"Easdaq Makes A Comeback As Equiduct". Archived from the original on February 13, 2011.
"Sustainable Stock Exchanges Initiative: Exchanges listing over 4,600 companies commit to
promoting sustainability". Reuters.com. Reuters. Archived from the original on May 13, 2014.
Retrieved May 13, 2014.
"Nasdaq's New CEO Attributes Her Success to an 'Eclectic' Career Path". Fortune. November
15, 2016. Archived from the original on November 17, 2016. Retrieved November 17, 2016.
Osipovich, Alexander (October 26, 2017). "Startup Exchange Cleared to Take on NYSE,
Nasdaq for Stock Listings". Wall Street Journal. New York City, United States. Archived from
the original on October 26, 2017. Retrieved October 26, 2017.
Alexander Osipovich; Dave Michaels; Gretchen Morgenson. "SEC Ruling Takes Aim at Stock-
Exchange Profits". Wall Street Journal. Retrieved 18 October 2018.
"SEC rules NYSE and Nasdaq did not justify data fee increases". Financial Times. Retrieved 18
October 2018.
Michaels, Dave (2018-10-19). "NYSE, Nasdaq Take It on the Chin in Washington". Wall Street
Journal. ISSN 0099-9660. Retrieved 2018-10-19.
"Order Book, Level 2 Market Data, and Depth of Market". Daytrading. About.com. Archived
from the original on February 13, 2011.
"Nasdaq Level III Quote". Archived from the original on April 13, 2014.
"Nasdaq Trading Schedule". Nasdaq.com. Archived from the original on April 17, 2014.
Retrieved April 20, 2014.
"Definition of 'Nasdaq SmallCap Market', now known as Nasdaq Capital Market".
Investopedia.com. Archived from the original on August 4, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Market Composite'". Investopedia.com. Archived from the
original on September 17, 2013. Retrieved August 25, 2013.
"Definition of 'Nasdaq Global Select Market Composite'". Investopedia.com. Archived from the
original on October 4, 2013. Retrieved August 25, 2013.
Pinto, Jerald E.; Henry, Elaine; Robinson, Thomas R.; Stowe, John D. (2010). Equity Asset
Valuation. CFA Institute Investment Series. 27 (2 ed.). John Wiley & Sons. p. 6. ISBN
9780470579657. Archived from the original on May 10, 2013. Retrieved March 4, 2013. [...]
NASDAQ-GS stands for 'Nasdaq Global Select Market,' [...]
"Measuring Worth – Measures of worth, inflation rates, saving calculator, relative value, worth
of a dollar, worth of a pound, purchasing power, gold prices, GDP, history of wages, average
wage". measuringworth.com. Archived from the original on October 4, 2015. Retrieved October
2, 2015.
External links
Official Website
vte
Nasdaq, Inc.
vte
Financial markets
vte
Major United States stock market indices
Categories: Stock exchanges in the United StatesElectronic trading platformsPrivate equity
portfolio companiesAmerican companies established in 19711971 establishments in New York
(state)Companies based in New York CityEconomy of New York CityFinancial services
companies established in 1971Financial services companies based in New York City
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NASDAQ
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Nasdaq

Type Stock exchange

Location One Liberty Plaza


165 Broadway, New York City, New York, U.S.

Founded February 4, 1971; 47 years ago


Owner Nasdaq, Inc.

Currency United States Dollar

No. of listings 3,321 (June 2018)[1]

Market cap
$10 trillion

Website Business.Nasdaq.com

The Nasdaq Stock Market (/ˈnæzˌdæk/ ( listen), also known simply as Nasdaq) is an American
stock exchange. It is the second-largest stock exchange in the world by market capitalization,
behind only the New York Stock Exchange located in the same city.[2] The exchange platform is
owned by Nasdaq, Inc.,[3] which also owns the Nasdaq Nordic (formerly known as OMX) and
Nasdaq Baltic stock market network and several U.S. stock and options exchanges
Contents
• 1History
o 1.11971–1999
o 1.22000–present
• 2Quote availability
• 3Trading schedule
• 4Market tiers
• 5Average annualized growth rate
• 6See also
• 7References
• 8External links
History[edit]
1971–1999[edit]
"Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated
Quotations.[4] It was founded in 1971 by the National Association of Securities Dealers
(NASD),[5] which divested itself of Nasdaq in a series of sales in 2000 and 2001. The Nasdaq
Stock Market is owned and operated by Nasdaq, Inc., the stock of which was listed on its own
securities exchange on July 2, 2002, under the ticker symbol NDAQ.

Former logo used from 1971 to 2014


The Nasdaq Stock Market began trading on February 8, 1971. It was the world's first electronic
stock market.[5] At first, it was merely a “quotation system” and did not provide a way to
perform electronic trades.[6][not in citation given]The Nasdaq Stock Market helped lower the
spread (the difference between the bid price and the ask price of the stock) but was unpopular
among brokerages which made much of their money on the spread.
The NASDAQ Stock Market eventually assumed the majority of major trades that had been
executed by the over-the-counter (OTC) system of trading, but there are still many securities
traded in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as
"OTC" in media reports[7] and also in the monthly Stock Guides (stock guides and procedures)
issued by Standard & Poor's Corporation.[citation needed]
Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and
volume reporting and automated trading systems. It was also the first stock market in the United
States to trade online, highlighting Nasdaq-traded companies and closing with the declaration
that the Nasdaq Stock Market is "the stock market for the next hundred years". The Nasdaq
Stock Market attracted new growth companies, including Microsoft, Apple, Cisco, Oracle and
Dell, and it helped modernize the IPO.
Its main index is the NASDAQ Composite, which has been published since its inception.
However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, which was
introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100
companies in terms of market capitalization.
In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first
intercontinental linkage of securities markets.[8] The National Association of Securities Dealers
spun off the Nasdaq Stock Market in 2000 to form a publicly traded company.

The NASDAQ Composite index spiked in the late 1990s and then fell sharply as a result of the
dot-com bubble.
2000–present[edit]

Studio
On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3227 by April
17,[9] and in the following 30 months fell 78% from its peak.[10]
In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed
national securities exchange.[11]
In 2007, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries,
expanded its global footprint, and changed its name to the NASDAQ OMX Group.[12]
To qualify for listing on the exchange, a company must be registered with the United States
Securities and Exchange Commission (SEC), must have at least three market makers (financial
firms that act as brokers or dealers for specific securities) and must meet minimum requirements
for assets, capital, public shares, and shareholders.
In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Börse,
speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a
counter-bid of their own for NYSE. NASDAQ OMX could be[when?] looking to acquire the
American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE
Euronext’s market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was
valued at $9.45 billion."[13] Late in the month, Nasdaq was reported to be considering asking
either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it
proceeded, an $11–12 billion counterbid.[14]
The European Association of Securities Dealers Automatic Quotation System (EASDAQ) was
founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in
2001 and became NASDAQ Europe. Operations were shut down, however, as a result of the
burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, and is
currently[when?] operating under Börse Berlin.[15]
On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable
Stock Exchanges initiative on the eve of the United Nations Conference on Sustainable
Development (Rio+20).[16]
In November 2016, Nasdaq Chief Operating Officer Adena Friedman was promoted to the role
of CEO, becoming the first woman to run a major exchange in the U.S.[17] In 2016, Nasdaq
earned $272 million in listings-related revenues.[18]
In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price
increases when selling market data.[19][20][21]
Quote availability[edit]
Nasdaq quotes are available at three levels:
• Level 1 shows the highest bid and lowest ask—inside quote.
• Level 2 shows all public quotes of market makers together with information of market
dealers wishing to buy or sell stock and recently executed orders.[22]
• Level 3 is used by the market makers and allows them to enter their quotes and execute
orders.[23]
Trading schedule[edit]
The Nasdaq Stock Market sessions eastern time are:
4:00 am to 9:30 am premarket session
9:30 am to 4:00 pm normal trading session
4:00 pm to 8:00 pm postmarket session[24]
Market tiers[edit]
The Nasdaq Stock Market has three different market tiers:
• Capital Market (small cap) is an equity market for companies that have relatively small
levels of market capitalization. Listing requirements for such "small cap" companies are less
stringent than for other Nasdaq markets that list larger companies with significantly higher
market capitalization.[25]
• Global Market (mid cap) is made up of stocks that represent the Nasdaq Global Market.
The Global Market consists of 1,450 stocks that meet Nasdaq's strict financial and liquidity
requirements, and corporate governance standards. The Global Market is less exclusive than the
Global Select Market.[26]
• Global Select Market (NASDAQ-GS large cap) is a market capitalization-weighted index
made up of US-based and international stocks that represent the Global Select Market
Composite. The Global Select Market consists of 1,200 stocks that meet Nasdaq's strict financial
and liquidity requirements and corporate governance standards. The Global Select Market is
more exclusive than the Global Market. Every October, the Nasdaq Listing Qualifications
Department reviews the Global Market Composite to determine if any of its stocks have become
eligible for listing on the Global Select Market.[27][28]
Average annualized growth rate[edit]
As of June 2015, the Nasdaq Stock Market had an average annualized growth rate of 9.24%
since its opening in February 1971. Since the end of the recession in June 2009 however, it has
increased by 18.29% per year.[29]
See also[edit]
• New York City portal
Wikimedia Commons has media related to NASDAQ.

• ACT (NASDAQ)
• Advanced Computerized Execution System
• Directors Desk
• Economy of New York City
• List of stock exchange mergers in the Americas
• List of stock exchanges
• List of stock exchanges in the Americas
• NASDAQ futures
• Nasdaq, Inc.
• NASDAQ-100
• NASDAQ Financial-100
• United States corporate law
References[edit]
1. Jump up^ "Nasdaq Companies". Archived from the original on February 13, 2011.
Retrieved June 1, 2018.
2. Jump up^ "Monthly Reports". World-Exchanges.org. World Federation of Exchanges.
Archived from the original on August 17, 2014. Retrieved June 3, 2015.
3. Jump up^ "Nasdaq – Business Solutions & Services". Business.nasdaq.com. Archived
from the original on October 20, 2016. Retrieved October 23,2016.
4. Jump up^ Frequently Asked Questions. NASDAQ.com. NASDAQ, n.d. Web. December
23, 2001. Archived February 13, 2011, at WebCite
5. ^ Jump up to:a b Terrell, Ellen. "History of the American and Nasdaq Stock Exchanges".
LOC.gov. Library of Congress Business Reference Services. Archived from the original on April
14, 2013. Retrieved April 27, 2013.
6. Jump up^ "Nasdaq.com Frequently Asked Questions". Nasdaq.com. Retrieved October
23, 2016.
7. Jump up^ Gilpin, Kenneth N. (July 3, 1987). "Company News: An Erratic Quarter for
Stock Markets". The New York Times. ISSN 0362-4331. Archived from the original on August
1, 2017. Retrieved February 1, 2017.
8. Jump up^ Odekon, Mehmet (March 17, 2015). Booms and Busts: An Encyclopedia of
Economic History from the First Stock Market Crash of 1792 to the Current Global Economic
Crisis: An Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the
Current Global Economic Crisis. Routledge. ISBN 9781317475750. Archived from the original
on August 3, 2017.
9. Jump up^ "NASDAQ Composite daily index". Archived from the original on November
22, 2010.
10. Jump up^ Glassman, James K. (February 11, 2015). "3 Lessons for Investors From the
Tech Bubble". Kiplinger's Personal Finance. Archived from the original on April 15, 2017.
11. Jump up^ Walsh, Michelle. "Nasdaq Stock Market Becomes A National Securities
Exchange; Changes Market Designations". Archived from the original on December 17, 2013.
12. Jump up^ Lucchetti, Aaron; MacDonald, Alistair (May 26, 2007). "Nasdaq Lands OMX
for $3.7 Billion; Are More Merger Deals on the Way?". Wall Street Journal. ISSN 0099-9660.
Archived from the original on July 31, 2017. Retrieved July 21, 2017.
13. Jump up^ De la Merced, Michael J., "Nasdaq and ICE Hold Talks Over Potential
N.Y.S.E. Bid" Archived January 20, 2012, at the Wayback Machine., The New York Times
Dealbook, February 18, 2011, 12:46 pm. Retrieved February 18, 2011.
14. Jump up^ Fraser, Michelle E., "Nasdaq May Ask CME or ICE for Help in NYSE
Counterbid, WSJ Says" Archived July 29, 2014, at the Wayback Machine., Bloomberg, February
26, 2011 9:30 AM ET. Retrieved March 1, 2011.
15. Jump up^ "Easdaq Makes A Comeback As Equiduct". Archived from the original on
February 13, 2011.
16. Jump up^ "Sustainable Stock Exchanges Initiative: Exchanges listing over 4,600
companies commit to promoting sustainability". Reuters.com. Reuters. Archived from the
original on May 13, 2014. Retrieved May 13, 2014.
17. Jump up^ "Nasdaq's New CEO Attributes Her Success to an 'Eclectic' Career Path".
Fortune. November 15, 2016. Archived from the original on November 17, 2016. Retrieved
November 17, 2016.
18. Jump up^ Osipovich, Alexander (October 26, 2017). "Startup Exchange Cleared to Take
on NYSE, Nasdaq for Stock Listings". Wall Street Journal. New York City, United States.
Archived from the original on October 26, 2017. Retrieved October 26, 2017.
19. Jump up^ Alexander Osipovich; Dave Michaels; Gretchen Morgenson. "SEC Ruling
Takes Aim at Stock-Exchange Profits". Wall Street Journal. Retrieved 18 October 2018.
20. Jump up^ "SEC rules NYSE and Nasdaq did not justify data fee increases". Financial
Times. Retrieved 18 October 2018.
21. Jump up^ Michaels, Dave (2018-10-19). "NYSE, Nasdaq Take It on the Chin in
Washington". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-10-19.
22. Jump up^ "Order Book, Level 2 Market Data, and Depth of Market". Daytrading.
About.com. Archived from the original on February 13, 2011.
23. Jump up^ "Nasdaq Level III Quote". Archived from the original on April 13, 2014.
24. Jump up^ "Nasdaq Trading Schedule". Nasdaq.com. Archived from the original on April
17, 2014. Retrieved April 20, 2014.
25. Jump up^ "Definition of 'Nasdaq SmallCap Market', now known as Nasdaq Capital
Market". Investopedia.com. Archived from the original on August 4, 2013. Retrieved August 25,
2013.
26. Jump up^ "Definition of 'Nasdaq Global Market Composite'". Investopedia.com.
Archived from the original on September 17, 2013. Retrieved August 25,2013.
27. Jump up^ "Definition of 'Nasdaq Global Select Market Composite'". Investopedia.com.
Archived from the original on October 4, 2013. Retrieved August 25, 2013.
28. Jump up^ Pinto, Jerald E.; Henry, Elaine; Robinson, Thomas R.; Stowe, John D. (2010).
Equity Asset Valuation. CFA Institute Investment Series. 27 (2 ed.). John Wiley & Sons. p. 6.
ISBN 9780470579657. Archived from the original on May 10, 2013. Retrieved March 4, 2013.
[...] NASDAQ-GS stands for 'Nasdaq Global Select Market,' [...]
29. Jump up^ "Measuring Worth – Measures of worth, inflation rates, saving calculator,
relative value, worth of a dollar, worth of a pound, purchasing power, gold prices, GDP, history
of wages, average wage". measuringworth.com. Archived from the original on October 4, 2015.
Retrieved October 2, 2015.
External links[edit]
• Official Website
show
• v
• t
• e
Nasdaq, Inc.

show
• v
• t
• e
Financial markets

show
• v
• t
• e
Major United States stock market indices

Categories:
• Stock exchanges in the United States
• Electronic trading platforms
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preservation service enables verifiability of claims supported by the cited sources even when the
original web pages are being revised, removed, or disappear for other reasons, an effect known
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This page was last edited on 5 November 2018, at 20:24 (UTC).
Text is available under the Creative Commons Attribution-ShareAlike License; additional terms
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a registered trademark of the Wikimedia Foundation, Inc., a non-profit organization.
Privacy policyAbout WikipediaDisclaimersContact WikipediaDevelopersCookie
statementMobile viewWikimedia Foundation Powered by MediaWiki
WebCite is an on-demand archiving service, designed to digitally preserve scientific and
educationally important material on the web by making snapshots of Internet contents as they
existed at the time when a blogger, or a scholar or a Wikipedia editor cited or quoted from it. The
preservation service enables verifiability of claims supported by the cited sources even when the
original web pages are being revised, removed, or disappear for other reasons, an effect known
as link rot.

64 more
Edit links
This page was last edited on 5 November 2018, at 20:24 (UTC).
Text is available under the Creative Commons Attribution-ShareAlike License; additional terms
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NASDAQ
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Nasdaq
Type Stock exchange

Location One Liberty Plaza

165 Broadway, New York City, New York, U.S.

Founded February 4, 1971; 47 years ago

Owner Nasdaq, Inc.

Currency United States Dollar

No. of listings 3,321 (June 2018)[1]

Market cap $10 trillion

Website Business.Nasdaq.com

The Nasdaq Stock Market (/ˈnæzˌdæk/ ( listen), also known simply as Nasdaq) is an
American stock exchange. It is the second-largest stock exchange in the world by market
capitalization, behind only the New York Stock Exchange located in the same city.[2] The exchange
platform is owned by Nasdaq, Inc.,[3] which also owns the Nasdaq Nordic (formerly known as OMX)
and Nasdaq Baltic stock market network and several U.S. stock and options exchanges

Contents

 1History
o 1.11971–1999
o 1.22000–present
 2Quote availability
 3Trading schedule
 4Market tiers
 5Average annualized growth rate
 6See also
 7References
 8External links

History[edit]
1971–1999[edit]
"Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated
Quotations.[4] It was founded in 1971 by the National Association of Securities
Dealers (NASD),[5] which divested itself of Nasdaq in a series of sales in 2000 and 2001. The
Nasdaq Stock Market is owned and operated by Nasdaq, Inc., the stock of which was listed on its
own securities exchange on July 2, 2002, under the ticker symbol NDAQ.

Former logo used from 1971 to 2014


The Nasdaq Stock Market began trading on February 8, 1971. It was the world's first electronic stock
market.[5] At first, it was merely a “quotation system” and did not provide a way to perform electronic
trades.[6][not in citation given]The Nasdaq Stock Market helped lower the spread (the difference between the
bid price and the ask price of the stock) but was unpopular among brokerages which made much of
their money on the spread.
The NASDAQ Stock Market eventually assumed the majority of major trades that had been
executed by the over-the-counter (OTC) system of trading, but there are still many securities traded
in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as "OTC" in
media reports[7] and also in the monthly Stock Guides (stock guides and procedures) issued
by Standard & Poor's Corporation.[citation needed]
Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and
volume reporting and automated trading systems. It was also the first stock market in the United
States to trade online, highlighting Nasdaq-traded companies and closing with the declaration that
the Nasdaq Stock Market is "the stock market for the next hundred years". The Nasdaq Stock
Market attracted new growth companies, including Microsoft, Apple, Cisco, Oracle and Dell, and it
helped modernize the IPO.
Its main index is the NASDAQ Composite, which has been published since its inception. However,
its exchange-traded fund tracks the large-cap NASDAQ-100 index, which was introduced in 1985
alongside the NASDAQ Financial-100 Index, which tracks the largest 100 companies in terms of
market capitalization.
In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first
intercontinental linkage of securities markets.[8] The National Association of Securities Dealers spun
off the Nasdaq Stock Market in 2000 to form a publicly traded company.
The NASDAQ Composite index spiked in the late 1990s and then fell sharply as a result of the dot-com bubble.
2000–present[edit]

Studio
On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3227 by April 17,[9] and
in the following 30 months fell 78% from its peak.[10]
In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed
national securities exchange.[11]
In 2007, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries, expanded
its global footprint, and changed its name to the NASDAQ OMX Group.[12]
To qualify for listing on the exchange, a company must be registered with the United States
Securities and Exchange Commission (SEC), must have at least three market makers (financial
firms that act as brokers or dealers for specific securities) and must meet minimum requirements for
assets, capital, public shares, and shareholders.
In February 2011, in the wake of an announced merger of NYSE Euronext with Deutsche Börse,
speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a
counter-bid of their own for NYSE. NASDAQ OMX could be[when?] looking to acquire the American
exchange's cash equities business, ICE the derivatives business. At the time, "NYSE Euronext’s
market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was valued at
$9.45 billion."[13] Late in the month, Nasdaq was reported to be considering asking either ICE or
the Chicago Mercantile Exchange to join in what would probably have to be, if it proceeded, an $11–
12 billion counterbid.[14]
The European Association of Securities Dealers Automatic Quotation System (EASDAQ) was
founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in
2001 and became NASDAQ Europe. Operations were shut down, however, as a result of the burst
of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, and is
currently[when?] operating under Börse Berlin.[15]
On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable
Stock Exchanges initiative on the eve of the United Nations Conference on Sustainable
Development (Rio+20).[16]
In November 2016, Nasdaq Chief Operating Officer Adena Friedman was promoted to the role of
CEO, becoming the first woman to run a major exchange in the U.S.[17] In 2016, Nasdaq earned $272
million in listings-related revenues.[18]
In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price
increases when selling market data.[19][20][21]

Quote availability[edit]
Nasdaq quotes are available at three levels:

 Level 1 shows the highest bid and lowest ask—inside quote.


 Level 2 shows all public quotes of market makers together with
information of market dealers wishing to buy or sell stock and
recently executed orders.[22]
 Level 3 is used by the market makers and allows them to enter their
quotes and execute orders.[23]

Trading schedule[edit]
The Nasdaq Stock Market sessions eastern time are:
4:00 am to 9:30 am premarket session
9:30 am to 4:00 pm normal trading session
4:00 pm to 8:00 pm postmarket session[24]

Market tiers[edit]
The Nasdaq Stock Market has three different market tiers:

 Capital Market (small cap) is an equity market for companies that


have relatively small levels of market capitalization. Listing
requirements for such "small cap" companies are less stringent than
for other Nasdaq markets that list larger companies with
significantly higher market capitalization.[25]
 Global Market (mid cap) is made up of stocks that represent the
Nasdaq Global Market. The Global Market consists of 1,450 stocks
that meet Nasdaq's strict financial and liquidity requirements, and
corporate governance standards. The Global Market is less
exclusive than the Global Select Market.[26]
 Global Select Market (NASDAQ-GS large cap) is a market
capitalization-weighted index made up of US-based and
international stocks that represent the Global Select Market
Composite. The Global Select Market consists of 1,200 stocks that
meet Nasdaq's strict financial and liquidity requirements and
corporate governance standards. The Global Select Market is more
exclusive than the Global Market. Every October, the Nasdaq
Listing Qualifications Department reviews the Global Market
Composite to determine if any of its stocks have become eligible for
listing on the Global Select Market.[27][28]

Average annualized growth rate[edit]


As of June 2015, the Nasdaq Stock Market had an average annualized growth rate of 9.24% since
its opening in February 1971. Since the end of the recession in June 2009 however, it has increased
by 18.29% per year.[29]

See also[edit]

 New York City portal


Wikimedia Commons has
media related to NASDAQ.

 ACT (NASDAQ)
 Advanced Computerized Execution System
 Directors Desk
 Economy of New York City
 List of stock exchange mergers in the Americas
 List of stock exchanges
 List of stock exchanges in the Americas
 NASDAQ futures
 Nasdaq, Inc.
 NASDAQ-100
 NASDAQ Financial-100
 United States corporate law

References[edit]
1. Jump up^ "Nasdaq Companies". Archived from the original on
February 13, 2011. Retrieved June 1, 2018.
2. Jump up^ "Monthly Reports". World-Exchanges.org. World
Federation of Exchanges. Archived from the original on August 17,
2014. Retrieved June 3, 2015.
3. Jump up^ "Nasdaq – Business Solutions &
Services". Business.nasdaq.com. Archived from the original on
October 20, 2016. Retrieved October 23,2016.
4. Jump up^ Frequently Asked Questions. NASDAQ.com. NASDAQ,
n.d. Web. December 23, 2001. Archived February 13, 2011,
at WebCite
5. ^ Jump up to:a b Terrell, Ellen. "History of the American and Nasdaq
Stock Exchanges". LOC.gov. Library of Congress Business Reference
Services. Archived from the original on April 14, 2013. Retrieved April
27, 2013.
6. Jump up^ "Nasdaq.com Frequently Asked Questions". Nasdaq.com.
Retrieved October 23, 2016.
7. Jump up^ Gilpin, Kenneth N. (July 3, 1987). "Company News: An
Erratic Quarter for Stock Markets". The New York Times. ISSN 0362-
4331. Archived from the original on August 1, 2017.
Retrieved February 1, 2017.
8. Jump up^ Odekon, Mehmet (March 17, 2015). Booms and Busts: An
Encyclopedia of Economic History from the First Stock Market Crash
of 1792 to the Current Global Economic Crisis: An Encyclopedia of
Economic History from the First Stock Market Crash of 1792 to the
Current Global Economic Crisis.
Routledge. ISBN 9781317475750. Archived from the original on
August 3, 2017.
9. Jump up^ "NASDAQ Composite daily index". Archived from the
original on November 22, 2010.
10. Jump up^ Glassman, James K. (February 11, 2015). "3 Lessons for
Investors From the Tech Bubble". Kiplinger's Personal
Finance. Archived from the original on April 15, 2017.
11. Jump up^ Walsh, Michelle. "Nasdaq Stock Market Becomes A
National Securities Exchange; Changes Market
Designations". Archived from the original on December 17, 2013.
12. Jump up^ Lucchetti, Aaron; MacDonald, Alistair (May 26,
2007). "Nasdaq Lands OMX for $3.7 Billion; Are More Merger Deals
on the Way?". Wall Street Journal. ISSN 0099-9660. Archived from the
original on July 31, 2017. Retrieved July 21, 2017.
13. Jump up^ De la Merced, Michael J., "Nasdaq and ICE Hold Talks
Over Potential N.Y.S.E. Bid" Archived January 20, 2012, at
the Wayback Machine., The New York Times Dealbook, February 18,
2011, 12:46 pm. Retrieved February 18, 2011.
14. Jump up^ Fraser, Michelle E., "Nasdaq May Ask CME or ICE for Help
in NYSE Counterbid, WSJ Says" Archived July 29, 2014, at
the Wayback Machine., Bloomberg, February 26, 2011 9:30 AM ET.
Retrieved March 1, 2011.
15. Jump up^ "Easdaq Makes A Comeback As Equiduct". Archived from
the original on February 13, 2011.
16. Jump up^ "Sustainable Stock Exchanges Initiative: Exchanges listing
over 4,600 companies commit to promoting
sustainability". Reuters.com. Reuters. Archived from the original on
May 13, 2014. Retrieved May 13, 2014.
17. Jump up^ "Nasdaq's New CEO Attributes Her Success to an 'Eclectic'
Career Path". Fortune. November 15, 2016. Archived from the original
on November 17, 2016. Retrieved November 17, 2016.
18. Jump up^ Osipovich, Alexander (October 26, 2017). "Startup
Exchange Cleared to Take on NYSE, Nasdaq for Stock Listings". Wall
Street Journal. New York City, United States. Archived from the
original on October 26, 2017. Retrieved October 26, 2017.
19. Jump up^ Alexander Osipovich; Dave Michaels; Gretchen
Morgenson. "SEC Ruling Takes Aim at Stock-Exchange Profits". Wall
Street Journal. Retrieved 18 October 2018.
20. Jump up^ "SEC rules NYSE and Nasdaq did not justify data fee
increases". Financial Times. Retrieved 18 October 2018.
21. Jump up^ Michaels, Dave (2018-10-19). "NYSE, Nasdaq Take It on
the Chin in Washington". Wall Street Journal. ISSN 0099-9660.
Retrieved 2018-10-19.
22. Jump up^ "Order Book, Level 2 Market Data, and Depth of
Market". Daytrading. About.com. Archived from the original on
February 13, 2011.
23. Jump up^ "Nasdaq Level III Quote". Archived from the original on
April 13, 2014.
24. Jump up^ "Nasdaq Trading Schedule". Nasdaq.com. Archived from
the original on April 17, 2014. Retrieved April 20, 2014.
25. Jump up^ "Definition of 'Nasdaq SmallCap Market', now known as
Nasdaq Capital Market". Investopedia.com. Archived from the original
on August 4, 2013. Retrieved August 25, 2013.
26. Jump up^ "Definition of 'Nasdaq Global Market
Composite'". Investopedia.com. Archived from the original on
September 17, 2013. Retrieved August 25,2013.
27. Jump up^ "Definition of 'Nasdaq Global Select Market
Composite'". Investopedia.com. Archived from the original on October
4, 2013. Retrieved August 25, 2013.
28. Jump up^ Pinto, Jerald E.; Henry, Elaine; Robinson, Thomas R.;
Stowe, John D. (2010). Equity Asset Valuation. CFA Institute
Investment Series. 27 (2 ed.). John Wiley & Sons.
p. 6. ISBN 9780470579657. Archived from the original on May 10,
2013. Retrieved March 4, 2013. [...] NASDAQ-GS stands for 'Nasdaq
Global Select Market,' [...]
29. Jump up^ "Measuring Worth – Measures of worth, inflation rates,
saving calculator, relative value, worth of a dollar, worth of a pound,
purchasing power, gold prices, GDP, history of wages, average wage".
measuringworth.com. Archived from the original on October 4, 2015.
Retrieved October 2, 2015.

External links[edit]
 Official Website

show

Nasdaq, Inc.

show

Financial markets

show

Major United States stock market indices


Categories:
 Stock exchanges in the United States
 Electronic trading platforms
 Private equity portfolio companies
 American companies established in 1971
 1971 establishments in New York (state)
 Companies based in New York City
 Economy of New York City
 Financial services companies established in 1971
 Financial services companies based in New York City
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 Text is available under the Creative Commons Attribution-ShareAlike License; additional
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Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc., a non-profit
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 About Wikipedia

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 Contact Wikipedia

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 Mobile view

WebCite is an on-demand archiving service, designed to digitally preserve scientific and


educationally important material on the web by making snapshots of Internet contents as they
existed at the time when a blogger, or a scholar or a Wikipedia editor cited or quoted from it.
The preservation service enables verifiability of claims supported by the cited sources even
when the original web pages are being revised, removed, or disappear for other reasons, an
effect known as link rot.

64 more
Edit links
This page was last edited on 5 November 2018, at 20:24 (UTC).
Text is available under the Creative Commons Attribution-ShareAlike License; additional terms
may apply. By using this site, you agree to the Terms of Use and Privacy Policy. Wikipedia® is a
registered trademark of the Wikimedia Foundation, Inc., a non-profit organization.
Privacy policyAbout WikipediaDisclaimersContact WikipediaDevelopersCookie
statementMobile viewWikimedia Foundation Powered by MediaWiki
WebCite is an on-demand archiving service, designed to digitally preserve scientific and
educationally important material on the web by making snapshots of Internet contents as they
existed at the time when a blogger, or a scholar or a Wikipedia editor cited or quoted from it.
The preservation service enables verifiability of claims supported by the cited sources even
when the original web pages are being revised, removed, or disappear for other reasons, an
effect known as link rot.

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