NASDAQ Stock Market

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This is a stock market in which around 3,300 public companies are traded, using the NASDAQ system. There are two NASDAQ stock markets, both operated electronically. One NASDAQ market is the National Market where all the bigger companies are traded, such as Microsoft. The other market is the Bulletin Board for smaller and newer companies that will hopefully grow. Once companies get bigger they can move up from the Bulletin Board to be traded in the National Market. The NASDAQ Stock Market became a stock exchange in the summer of 2006. This development will have little practical effect on investors buying and selling shares, but it will alter how the NASDAQ Stock Market is operated. The financial requirements for a company to be listed on NASDAQ are much less than those of the New York Stock Exchange, NASDAQ's larger rival. (NYSE stocks can also be traded through the NASDAQ stock market, and NASDAQ stocks can be traded on the NYSE.) The NASDAQ Stock Market was originally owned by the NASD, but it was "spunoff" as a separate company in 2001; NASD continued to be a shareholder, but sold its last remaining shares in July 2006. In 2007 NASDAQ received approval from the Federal Trade Commission to acquire the Philadelphia Stock Exchange, previously the nation's third-largest exchange.