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Investment: An A-Z Guide by Philip Ryland

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N

NASDAQ

Short for National Association of Securities Dealers Automated Quotation System. Measured by the volume and value of shares traded, NASDAQ is the world’s biggest stock exchange. For example, in June 2008 the average daily volume of shares traded was 2.3 billion with a value of $63.6 billion. However, measured by the market value of the EQUITY of all companies listed on the market, NASDAQ lies third globally, behind the NEW YORK STOCK EXCHANGE and the TOKYO STOCK EXCHANGE. At the end of June 2008, 3,243 securities were listed on NASDAQ.

The market was introduced in 1971 to replace a telephone-based market between members of the NASD, a self-regulated body of dealers and MARKETMAKERS, and it is still sometimes referred to as America’s ...

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