Nasdaq, << NAZ dak, >> is the oldest electronic stock market in the world. Its headquarters are in New York City. Originally, its name was an acronym for the National Association of Securities Dealers Automated Quotations System (Nasdaq®). On the Nasdaq market, brokers buy and sell stocks through a vast computer network instead of on a trading floor. Participants around the world receive trading information over this computer network. Nasdaq lists many stocks of high-technology companies, such as computer manufacturers and software developers.
The National Association of Securities Dealers (now part of the Financial Industry Regulatory Authority) created the Nasdaq network in 1971. This network automated the selling of over-the-counter (OTC) stocks, which are stocks not listed on any stock market or exchange. Nasdaq became a stock market in 1975 when it began listing stocks. In 1990, Nasdaq stopped dealing in OTC stocks and changed its name to the Nasdaq Stock Market.
