Nasdaq

Originally an acronym for National Association of Securities Dealers Automated Quotation, which started as an electronic stock quote and trading system. Today, the Nasdaq supports trading of stocks via a dealer market, which is made up of many market makers who compete with each other. This is different than the New York Stock Exchange, which operates as an auction market where specialists match buyers with sellers. To be listed on the Nasdaq, a company must have issued at least 1.25 million shares of stock worth at least $70 million and must have earned more than $11 million over the last three years.