NASDAQ

The NASDAQ (acronym of National Association of Securities Dealers Automated Quotations) is an American stock exchange. It is the largest electronic screen-based equity securities trading market in the United States. With approximately 3,800 companies, it has more trading volume per hour than any other stock exchange in the world. It was founded in 1971 by the National Association of Securities Dealers (NASD), who divested themselves of it in a series of sales in 2000 and 2001. It is owned and operated by the NASDAQ OMX Group, the stock of which was listed on its own stock exchange in 2002, and is monitored by the Securities and Exchange Commission (SEC). With the completed purchase of the Nordic-based operated exchange OMX, following its agreement with Borse Dubai, NASDAQ is poised to capture 67% of the controlling stake in the aforementioned exchange, thereby inching ever closer to taking over the company and creating a trans-atlantic powerhouse. The group, now known as Nasdaq-OMX, controls and operates the NASDAQ stock exchange in New York City -- the second largest exchange in the United States. It also operates eight stock exchanges in Europe and holds one-third of the Dubai Stock Exchange. It has a double-listing agreement with OMX, and will compete with NYSE-Euronext group in attracting new listings. NASDAQ quotes are available at three levels:

• Level 1 shows the highest bid and lowest offer — the inside quote.
• Level 2 shows all public quotes of market makers together with information of market makers wishing to sell or buy stock and recently executed orders.
• Level 3 is used by the market makers and allows them to enter their quotes and execute orders.

NASDAQ has a pre-market session from 07:00am to 09:30am, a normal trading session from 09:30am to 04:00pm and a post-market session from 04:00pm to 08:00pm (all times in EST).

Indexes

• NASDAQ Composite
• NASDAQ-100
• NASDAQ Biotechnology Index 6:00-9:45

Markets

• NASDAQ Global Select Market
• NASDAQ Global Market
• NASDAQ Capital Market
• NASDAQ PORTAL Market