Meaning of NASDAQ

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What is the meaning of Nasdaq?
In 1961, Congress asked the U.S. Securities and Exchange Commission (SEC) to conduct a special study of all securities markets. As a result of this two-year study, the SEC determined that the markets were too fragmented. They gave the task of developing an automated electronic stock trading system to the National Association of Securities Dealers (NASD). The result was the NASDAQ (www.nasdaq.com). Nasdaq has become so familiar that it is now a stand-alone name—much like "Apple Computer". However, at one time the acronym was National Association of Securities Dealers Automated Quotation system.
On February 8, 1971, Nasdaq celebrated its first official trading day. The completed Nasdaq automated system displayed median quotes for more than 2500 over-the-counter securities. Today more than 5,000 companies are listed on the Nasdaq. A company must meet a set of financial requirements to list its securities.

The Nasdaq closed 1999 with the Nasdaq Composite Index gaining over 20 percent for a fifth consecutive year, closing up 85.6%.*

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