The Nasdaq Stock Market
Also, as it carries the listings for some 3,200 companies, it is also the one with the most trading volume per day and lists more companies than any other stock exchange in the world. The group which the stock exchange is part of is called Nasdaq-OMX group. This parent company operates the NASDAQ stock market in NYC, 8 stock exchanges in Europe and it also carries a 33.3% ownership of the Dubai Stock Exchange in United Arab Emirates. Nasdaq stock exchange has been in operation out of NYC since 1971, first, as a merely a computer bulletin board system that did not actually connect buyers and sellers. Later, until 1987, most trading occurred via the telephone. Since then, the market place started operating a Small Order Execution System (SOES), to provide an electronic method for dealers to enter their trades. The market place has been expanding over the years both organically as well as through mergers and acquisition. Domestically, the 1998 merger with the American Stock Exchange formed made the company the largest electronic stock market in the United States. Other major mergers include the OMX acquisition for European expansion and 2007 purchase of the Philadelphia Stock Exchange, oldest stock exchange in the U.S., since 1790. In addition to having subsidiaries in Europe, the Nasdaq market place also lists 335 non-U.S. companies from 35 countries representing all industry sectors. The stock exchange has a website at www.nasdaq.com. |