|ပိုင်ဆိုင်သူ||The NASDAQ OMX Group|
|အဓိကပုဂ္ဂိုလ်များ||Robert Greifeld (CEO)
H. Furlong Baldwin (Chairman)
NASDAQ Biotechnology Index
The NASDAQ (acronym of National Association of Securities Dealers Automated Quotation System) ဆိုသည်မှာ အမေရိကန်ရှိ စတော့ဈေးကွက်ဖြစ်သည်။ NASDAQ သည် အမေရိကန်ပြည်ထောင်စုရှိ အီလက်ထရွန်းနစ် ဖန်သားပြင်များဖြင့် စတော့ အရောင်းအဝယ်ပြုလုပ်သော ဈေးကွက်များတွင် အကြီးဆုံးဖြစ်သည်။ စုစုပေါင်း ကုမ္ပဏီ ၃၂၀၀ ကျော်မျှ စာရင်းရှိပြီး ကမ္ဘာပေါ်ရှိ အခြား စတော့ဈေးကွက်များထက် ပိုများသောစာရင်းရှိပြီး တစ်နေ့တာအတွက် ကုန်သွယ်မှုပမာဏ(trading volume)မှာလည်း ပို၍ များပြားသည်။
NASDAQ ကို ၁၉၇၁ ခုနှစ်တွင် စတော့ရှယ်ယာရောင်းဝယ်သူများ အဖွဲ့ (National Association of Securities Dealers) (NASD) မှ စတင်ထည်ထောင်ခဲ့ပြီး ထိုကုမ္ပဏီသည် ၂၀၀၀ ခုနှစ်နှင့် ၂၀၀၁ ခုနှစ်အတွင်း အပိုင်းပိုင်းခွဲ၍ မိမိဘာသာရောင်းချခဲ့သည်။ ယခုအခါ NASDAQ OMX Groupမှ ပိုင်ဆိုင်၍ လည်ပတ်မှုပြုနေပြီး ထိုကုမ္ပဏီ၏ ရှယ်ယာမှာ သူပိုင်ဆိုင်သော စတော့ဈေးကွက်တွင် ၂၀၀၂ ခုနှစ်မှ စတင်၍ ရောင်းချနေခဲ့ပြီး Securities and Exchange Commission (SEC) မှ ဈေးကွက်အတွင်း စတော့ရောင်းဝယ်မှုများကို စောင့်ကြပ်ကြည့်ရှုနေသည်။
With the completed purchase of the Nordic-based operated exchange OMX, following its agreement with Borse Dubai, NASDAQ is poised to capture 67% of the controlling stake in the aforementioned exchange, thereby inching ever closer to taking over the company and creating a trans-atlantic powerhouse. Nasdaq-OMX group as it's now known now controls and operates the NASDAQ stock market in NYC, which is the second largest in the US; in addition, it now operates eight stock exchanges in Europe and also holds 33.3% of the Dubai Stock Exchange. It has a double-listing agreement with OMX, and will compete with NYSE-Euronext group in attracting new listings.
Template:See also When the NASDAQ stock exchange began trading on February 8, 1971, the NASDAQ was the world's first electronic stock market. At first, it was merely a computer bulletin board system and did not actually connect buyers and sellers. The NASDAQ helped lower the spread (the difference between the bid price and the ask price of the stock) but somewhat paradoxically was unpopular among brokerages because they made much of their money on the spread.
NASDAQ was the successor to the over-the-counter (OTC) and the "Curb Exchange" systems of trading. As late as 1987, the NASDAQ exchange was still commonly referred to as the OTC in media and also in the monthly Stock Guides issued by Standard & Poor's Corporation.
Over the years, NASDAQ became more of a stock market by adding trade and volume reporting and automated trading systems. NASDAQ was also the first stock market in the United States to advertise to the general public, highlighting NASDAQ-traded companies (usually in technology) and closing with the declaration that NASDAQ is "the stock market for the next hundred years." Its main index is the NASDAQ Composite, which has been published since its inception. However, its exchange-traded fund tracks the large-cap NASDAQ 100 index, which was introduced in 1985 alongside the NASDAQ 100 Financial Index.
Until 1987, most trading occurred via the telephone, but during the October 1987 stock market crash, market makers often didn't answer their phones. To counteract this, the Small Order Execution System (SOES) was established, which provides an electronic method for dealers to enter their trades. NASDAQ requires market makers to honor trades over SOES.
In 1992, it joined with the London Stock Exchange to form the first intercontinental linkage of securities markets. NASDAQ's 1998 merger with the American Stock Exchange formed the NASDAQ-Amex Market Group, and by the beginning of the 21st century it had become the largest electronic stock market (in terms of both dollar value and share volume) in the United States. NASD spun off NASDAQ in 2000 to form a publicly traded company, the NASDAQ Stock Market, Inc.
NASDAQ lists approximately 3,200 securities, of which 335 are non-U.S. companies from 35 countries representing all industry sectors. To qualify for listing on the exchange, a company must be registered with the SEC, have at least three market makers (financial firms that act as brokers or dealers for specific securities), and meet minimum requirements for assets, capital, public shares, and shareholders. NasdaqOMX now has a dual listing agreement with the Tel Aviv Stock Exchange.
NASDAQ allows multiple market participants to trade through its Electronic Communication Networks (ECNs) structure, increasing competition. The Small Order Execution System (SOES) is another NASDAQ feature, introduced in 1987, to ensure that in 'turbulent' market conditions small market orders are not forgotten but are automatically processed. With approximately 3,200 companies, it lists more companies and, on average, its systems trade more shares per day than any other stock exchange in the world. NASDAQ will follow the New York Stock Exchange in halting domestic trading in the event of a sharp and sudden decline of the Dow Jones Industrial Average.
NASDAQ has a maker taker pricing system that offers lower liquidity removal fees and more favorable added-liquidity rebates based on how much trading volume the market participant executes on the NASDAQ system.
Exchange Pricing wars have taken place since the demutualization of the Equities exchanges in the US. Nasdaq uses several maker-taker pricing models depending on Tape and customers.
Quote availability [ပြင်ဆင်ရန်]
NASDAQ quotes are available at three levels:
- Level 1 shows the highest bid and lowest offer — the inside quote.
- Level 2 shows all public quotes of market makers together with information of market makers wishing to sell or buy stock and recently executed orders.
- Level 3 is used by the market makers and allows them to enter their quotes and execute orders.
Trading Schedule [ပြင်ဆင်ရန်]
The NASDAQ Stock Market Trading Sessions (Eastern Time)
- Pre-Market Trading Hours from 7:00 a.m. to 9:30 a.m.
- Market Hours from 9:30 a.m. to 4:00 p.m.
- After-Market Hours from 4:00 p.m. to 8:00 p.m.
See also [ပြင်ဆင်ရန်]
- NASDAQ Performance Report. NASDAQ Newsroom. The Nasdaq Stock Market (2007-01-12). Retrieved on 2007-02-15။
- Dubai looking to crash Nasdaq OMX deal: paper. Reuters (2007-05-27). Retrieved on 2007-10-29။
- Standard & Poor's Corporation, Stock Guide, Year End 1987 issue
- Wells, Rob. "'Market for Next 100 Years' is 25", Associated Press.
- History of the NASDAQ and American Stock Exchanges. The Library of Congress: Business Reference Services (September 2006).
- James Quinn. "Nasdaq to buy Philadelphia Stock", London Telegraph, 2007-11-08.
- NASDAQ Facts NASDAQ
- Listing On NASDAQ NASDAQ
- Circuit Breaker Trigger Points and Trade Halt Durations. nasdaqtrader.com.
- Market Volume Summary. batstrading.com.
- Order Book, Level 2 Market Data, and Depth of Market. daytrading.about.com.
- Nasdaq Trading Schedule. NASDAQ.