Information AboutNasdaq |
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NASDAQ (originally an acronym for '''National Association of Securities Dealers Automated Quotations ''') is an American electronic Stock Exchange . It was founded by the National Association Of Securities Dealers (NASD) who divested it in a series of sales in 2000 and 2001 . It is owned and operated by '''The Nasdaq Stock Market''', Inc. which was listed on its own stock exchange in 2002 . NASDAQ is the largest electronic screen-based equity securities market in the United States. With approximately 3,300 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. The current chief executive is Robert Greifeld . LED video display at the corner of Broadway and 43rd Street in New York City is one of the largest of its kind in the world.]] See Also: Economy of New York City HISTORY When it began trading on February 8 , 1971 , it was the world's first electronic stock market. At first, it was merely a computer bulletin board system and did not actually connect buyers and sellers. The NASDAQ helped lower the "spread", but paradoxically was unpopular among brokerages because they made much of their money on the spread. Over the years, NASDAQ became more of a stock market by adding trade and volume reporting and automated trading systems. NASDAQ was also the first stock market to advertise to the general public, highlighting NASDAQ-traded companies (usually in technology) and closing with the declaration that NASDAQ was "the stock market for the next hundred years". Until 1987 , most trading occurred via the telephone, but during the 1987 market crash, market makers often didn't answer their phones. To counteract this, the Small Order Execution System was established, which provides an electronic method for dealers to enter their trades. NASDAQ requires market makers to honor trades over SOES. {Link without Title} Composite index peaked in March 2000, reflecting the high point of the dot-com bubble. Within a year it had declined to less than half its peak value. The rapid devaluation was cited by Al Gore as a reason he lost the Election of 2000.]] On July 17 , 1995 the NASDAQ stock index closed above the 1,000 mark for the first time. The index peaked at 5132.52 on March 10 , 2000 , which signaled the beginning of the end of the Dot-com boom Stock Market Bubble . The index declined to half its value within a year and is still valued at less than half its peak. {Link without Title} However, NASDAQ is now the largest U.S. electronic stock market. Despite the high tech image of NASDAQ, Squirrels have brought down the electronic exchange twice. A squirrel knocked out the power in 1994, and the NASDAQ system failed to roll over to its battery backup, causing an interruption in trading of one half hour. In 1987, a squirrel entered a transformer and caused a power surge, halting trading for 82 minutes. [http://risks.catless.org/Risks/5.72.html#subj1 Other instances of downtime have occurred when computer systems have unexpectedly rebooted or software upgrades have gone awry. [http://webreprints.djreprints.com/587261396651.html] In December of 2005, the . April 11 , 2006 . BUSINESS NASDAQ allows ''multiple market participants'' to trade through its electronic communications networks (ECNs) structure, increasing Competition . The Small Order Execution System (SOES) is another NASDAQ feature, introduced in 1987 , to ensure that in 'turbulent' market conditions small market orders are not forgotten but are automatically processed. With approximately 3,200 companies, it lists more companies and, on average, trades more shares per day than any other stock exchange in the world. It is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks. OWNERS Yahoo! data
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