## Overview and Purpose NASDAQ (National Association of Securities Dealers Automated Quotations) is a global electronic marketplace for buying and selling securities, best known as the world’s second-largest stock exchange by market capitalization, trailing only the New York Stock Exchange (NYSE)[3]. Its core mission is to facilitate transparent, efficient, and technology-driven trading of equities, fixed income, derivatives, and commodities for investors worldwide[3]. NASDAQ is especially recognized as the preferred exchange for technology and growth-oriented companies, including giants like Apple, Microsoft, and Amazon, due to its innovative, fully electronic trading platform[3][6]. ## History and Evolution NASDAQ was launched on February 8, 1971, by the National Association of Securities Dealers (NASD, now FINRA) as the world’s first electronic stock market[1][3]. Its creation aimed to automate and bring transparency to the fragmented over-the-counter (OTC) securities market, which previously relied on decentralized, phone-based trading[1]. Initially, NASDAQ served as an electronic quote display system, but trades were still executed by phone; over time, it evolved into a fully automated exchange, executing trades electronically and setting new standards for speed and efficiency in financial markets[1][7]. A pivotal moment came in 2006, when NASDAQ officially became a licensed national securities exchange[2]. The following year, it merged with the Scandinavian exchange group OMX, expanding its global footprint and rebranding as NASDAQ OMX Group[2]. This merger positioned NASDAQ as a leader not only in U.S. markets but also in Europe, managing 25 markets, five central securities depositories, and one clearing house[3]. ## Key Achievements NASDAQ’s history is marked by several industry firsts: it was the first stock exchange to launch a website, the first to sell its trading technology to other exchanges, and a pioneer in cloud-based record keeping[3]. Its introduction of electronic trading