The Nasdaq was created by the National Association of Securities Dealers (NASD) to enable investors to trade securities on a computerized, speedy and transparent system. It was the first electronic stock exchange. The Nasdaq stock market comprises two separate markets: the Nasdaq National Market, and the Nasdaq Smallcap Market. The Nasdaq National Market trades large, active securities and the Nasdaq Smallcap Market trades emerging growth companies. The Nasdaq began operations on February 8, 1971.

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