- The Nasdaq Stock Market, commonly known as Nasdaq, is an American stock exchange situated in New York City.
- National Association of Securities Dealers Automated Quotations which was established by the Financial Industry Regulatory Authority (FINRA) in 1971.
- The exchange platform commenced its operations as the first electronic stock market around the globe on February 8, 1971.
The Nasdaq Stock Market, commonly known as Nasdaq, is an American stock exchange situated in New York City. According to recent ranking reports, the institution is ranked second on the list of stock exchanges by market capitalization right behind the New York Stock Exchange.
Nasdaq, Inc., the parent company of the exchange platform, also owns the Nasdaq Nordic stock market network and various other popular U.S. stock and options exchanges.
The name NASDAQ accounted as an acronym for the National Association of Securities Dealers Automated Quotations which was established by the Financial Industry Regulatory Authority (FINRA) in 1971. The exchange platform commenced its operations as the first electronic stock market around the globe on February 8, 1971.
Though the Platform was initially only a quotation system, gradually the institution developed its operations as an exchange platform in its electronic sector. The system was able to help lower the bid-ask spread in the stock price system. However, the Platform did not gain much popularity among brokers due to its profit reducing nature.
The Platform’s next leap
Recent news reported by Bloomberg unveils NASDAQ’s future moves and decisions on the virtual currency sector. The report reveals the Platform’s preliminary initiatives on its Bitcoin projects.
The company’s CEO, Adena Friedman, disclosed its partners and the futuristic Platform plans on the Bitcoin arena in the Interview. The CEO stated that the company was working on its long term goals on achieving this leap.
There were several rumors about the company’s initiatives on the bitcoin sector until now when the same officiated by its CEO — these rumors based on several reports delivered on account of the Platform’s cryptocurrency objects.
On a strategically based decision, the CEO added that the company focuses on a differential structure distinguished from the existing Bitcoin dioramas, which is further aimed at improving the risk management factor. Which also emphasizes the Platform’s attention towards its risk avoidance initiatives.
This significant progress from the company would increase the competition in the Bitcoin coin futures trading sector with the presence of giants like Bakkt and Chicago Mercantile Exchange (CME), which in turn emphasizes the hurdles to be faced by the Platform, even at the entry-level. However, once the company has made its first step, the atmosphere will eventually get intense.
Company’s decision to take part in the Bitcoin ground, based on the importance of the same in future financial transactions. The CEO emphasized the importance of Bitcoin on impacting the global economy in the Interview. Although much about its plans not discussed in the same stage.
Once again, the significance and potential of the Bitcoin capacity underlined in such events, where the market players have ultimately understood that it is only through such prudent investments can they hold their consistencies in the ever competing financial economy. Such events once again bring awareness to other investors and market giants who are in the dilemma of deciding whether or not to participate in the virtual game.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.