The NASDAQ is the acronym for National Association of Securities Dealers Automated Quotation System. An American stock exchange, NASDAQ is the largest electronic screen-based equity securities trading market in the US.

It is owned and operated by the NASDAQ OMX Group.

With about 3,200 companies in its ambit, NASDAQ has more trading volume per day than any other stock exchange.

NASDAQ came into being in 1971 by the National Association of Securities Dealers. The latter divested themselves of it in a series of sales in 2000 and 2001.

NASDAQ was the successor to the over-the-counter (OTC) and the 'Curb Exchange' systems of trading. As late as 1987, the NASDAQ exchange was commonly referred to as the OTC.

Image: The NASDAQ MarketSite in Times Square. | Photograph: Spencer Platt/Getty Images