The Market of Innovation

Throughout its history, NASDAQ^® has been a beacon for change. When the market opened in February of 1971, every market in the world was floor-based. At that time, NASDAQ was charged with bringing greater efficiency to trading through modern technology — a charge that NASDAQ has been executing on ever since. Today, NASDAQ’s fast and efficient electronic market model is the standard that equity markets everywhere are following.

As the largest U.S. electronic stock market, NASDAQ is constantly innovating, always setting the bar of trading technology as high as possible to bring issuers and investors improved execution quality on a faster, more efficient trading platform. Over the years, NASDAQ has consistently invested a great deal in its trading system to further its position as technology leader among the global equity markets.

Most recently, NASDAQ acquired the INET ECN and integrated the NASDAQ, Brut and INET systems into a single platform. Following in the footsteps of the highly successful Opening and Closing Crosses, NASDAQ implemented the NASDAQ Crossing Network — comprised of Intraday Crosses and the Post-Close Cross — a new, fully-anonymous trade execution facility designed to promote the execution of large trades with minimal market impact. Beginning in 2007, NASDAQ will adjust its technology to accept and distribute 1-, 2- and 3-character trading symbols, in addition to the 4-character symbols currently used. And in September 2006, NASDAQ announced that, subject to SEC approval, it will create an equity and index options market in third quarter of 2007.