NASDAQ owns and operates 24 markets, three clearinghouses and five central securities depositories in six countries that support trading in equities, options, fixed income, derivatives, commodities, futures and structured products in the U.S. and Europe. NASDAQ technology powers over 70 marketplaces in 50 countries around the globe, and the exchange lists approximately 3,600 companies worldwide.
In the U.S., NASDAQ owns and operates three equities markets: the NASDAQ Stock Market, NASDAQ OMX BX (formerly the Boston Stock Exchange) and NASDAQ OMX PSX.
The global exchange group also operates U.S.equity options markets, including NASDAQ OMX PHLX (Philadelphia Stock Exchange), NASDAQ Options Market and NASDAQ OMX BX Options. PHLX offers a traditional open outcry trading floor with a pro-rata electronic allocation model, while the NASDAQ Options Market allocates orders on a time priority basis for high-frequency traders (HFTs).
History: The National Association of Securities Dealers Automated Quotation (NASDAQ) debuted in 1971 as the world's first electronic stock market, offering live quotes for 2,500 over-the-counter (OTC) securities.
In 2006, NASDAQ received SEC approval to operate as a national securities exchange. The following year, NASDAQ acquired Scandinavian exchange group, OMX, and became The NASDAQ OMX Group. Acquisitions, including the Boston Stock Exchange and the Philadelphia Stock Exchange, followed in 2007 and 2008, respectively.
NASDAQ OMX's U.S. and European markets are powered by INET, a proprietary core software engine. INET ECN, originally Island ECN, was acquired by NASDAQ in 2005. The electronic trading network changed hands a number of times prior to joining forces with NASDAQ OMX Group.