NASDAQ, or Nasdaq, is the second-largest stock exchange in the United States with a market cap of US$7.2 trillion and nearly 2,800 listed companies as of April 2015. NASDAQ is second only to the NYSE in the world for trading volume. Located in New York City, NASDAQ is owned by The NASDAQ OMX Group, and is listed on its own exchange as NDAQ.
Founded February 8, 1971, NASDAQ was the world's first electronic stock market. At creation, NASDAQ stood for National Association of Securities Dealers Automated Quotations. Initially, NASDAQ offered only quotations, but eventually provided electronic trading. The exchange was responsible for most of the over-the-counter (OTC) trades.
As NASDAQ added automated trading systems and reporting, the exchange became more of a stock market, becoming the first in the United States to offer online trading.
In 2000, NASDAQ became a for-profit company, owned by shareholders. Later, in 2007, NASDAQ combined with OMX, a Swedish exchange, to compete in the global market. That same year, NASDAQ acquired the Philadelphia Stock Exchange, the oldest exchange in America.
NASDAQ is now registered as a licensed national securities exchange.