NASDAQ

in full National Association of Securities Dealers Automated Quotations

NASDAQ extract from Britannica Online.

U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on the trading of domestic securities not listed on the regular stock exchanges. It publishes two composite price indexes daily as well as bank, insurance, transportation, utilities, and industrial indexes. By the 1990s it had surpassed the American Stock Exchange (AMEX) to become the second largest U.S. securities market, in terms of market capitalization, after the New York Stock Exchange. Members register with the Securities and Exchange Commission and meet requirements for assets, capital, public shares, and shareholders. In 1999 it merged with AMEX to form the Nasdaq-Amex Market Group, and in 2000 NASD sold nearly half its interest in NASDAQ to private investors. See also over-the-counter market.

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