synonym Nasdaq generally refers to the Nasdaq

establish background

The Nasdaq is to regulate OTC confusion by the National Association of Securities Dealers and for small businesses financing platform was founded in February 8, 1971. NASDAQ is characterized by the collection and dissemination OTC securities dealers quote unlisted stocks, it has become the world's second largest securities market. Existing listed companies a total of more than 5400, the NASDAQ is the world's first global electronic trading and the stock market, it has sold more than 260,000 computer terminals in 55 countries and regions.

The Nasdaq index reflects changes in the NASDAQ stock market quotation of the average stock price index, basic index of 100. NASDAQ listed company covers all the high-tech industries, including software, computers, telecommunications, biotechnology, retail and wholesale trade.

Nasdaq (5)

only listed securities each have their own individual securities code, the code-one correspondence with the securities, and the securities code once determining, will never change, which is mainly recognized by the computer to facilitate, when in use more convenient. NASDAQ ticker consists of more than several (usually four) uppercase letters, such as: BIDU, securities on the Nasdaq-listed Baidu in August 2005 5th.

stock market

The NASDAQ Stock Market is the major stock markets in the world in the fastest growing market, and it is the first electronic stock market. Changing hands every day in the US stock market in more than half of the transactions made on the Nasdaq, nearly 5400 companies listed on the securities market. Nasdaq trading in the traditional way by applying today's advanced technology and information - computers and telecommunications technology makes it unique compared to other stock markets, representing 519 of the world's largest brokerage firm of several securities is called as market makers, they offer 60,000 auctions and bidding price on the Nasdaq. These large range of activities are processed by a massive computer network, which displayed the best offer (including more than 70 computer terminals) to around 55 countries investors.

Nasdaq has a variety of market makers, investors in the NASDAQ stock market any team listed transactions are done through open competition - with their self We have the capital to buy and sell NASDAQ stocks. This competition events and activities provide the capital to trading activity carried out extensive and orderly market, the rapid execution of instructions provided favorable conditions for small investors buying and selling stocks. All this is different from the auction market. It has a separate designated traders, Nasdaq Global CEO or a particular person. The person designated as responsible for all transactions on a particular stock at this market, and is responsible rub together buyers and sellers, if necessary, in order to maintain ongoing trading but also act as a trader.

Nasdaq increases the outstanding factor in the market, and enhance his trading system, these improvements make the Nasdaq have the ability to send commands to other investors in the electronic communications network go, I feel like entering an auction market. The market allows market makers trading via telephone or the Internet directly, without restraint in the trading floor, and most of the contents of the transaction, particularly computer-related aspects of new technology, is the world's first electronic stock market.

While the Nasdaq is an electronic securities trading market, but it still has a representative of the "trading center" exists, which is located in the center of Times Square, New York Times Square next to the fourth, the building and often referred to as: Conde Nast building. Times Square is no general stock exchange in the fourth and often a variety of hardware facilities, replaced by a large studio, with high-tech projection screen and Europe and the United States have major financial news television reporter stationed instant market report.


2018 In December 2009, compiled by the World Brand Laboratory "2018 World Top 500 Brands" announced, NASDAQ ranked 176.

2020 February 20, block chain Forbes Top 50 list (No. 2).

2020 May 13, 2020 Forbes ranked the Nasdaq Global 2000 companies strong standings 1163.


In February 2006, the Nasdaq stock market announced that it will be divided into three levels: "NASDAQ Global Select Market," "NASDAQ global market "(formerly" Nasdaq National market ") and" NASDAQ capital market "(formerly the Nasdaq small Cap market), and further optimize the structure of the market, to attract different levels of listed companies .

NASDAQ Global Select Market

Standard NASDAQ Global Select Market demand and liquidity in financial terms than any other market in the world, included Featured NASDAQ market is reflected in high-quality companies achievement and identity.

NASDAQ Global Market

As the Nasdaq's largest and most actively traded stock market, NASDAQ Global Market with nearly 4400 stocks listed. In order to convert the Nasdaq National Market, the company must meet strict financial, capital and co-management and other indicators. Some of the world's largest and best-known companies in the NASDAQ global market.

2010 Nian 12 9, Dangdang to "DANG" smooth landing for the US New York Stock Exchange ticker symbol, to become China's first fully online business based on the United States market integrated online store. Day opening price of $ 24.5, higher than the issue price of $ 1.6 to $ 8.5 higher, closing price of $ 29.91, the highest price rose to $ 30.9. Dangdang The IPO issued a total of 17 million copies of American Depositary Shares (ADS), each ADS representing 5 ordinary shares. Copies of which 13.2 million ADS issued by the company, 3.8 million copies sold by shareholders. Credit Suisse, Morgan Stanley is the lead underwriter of the IPO Dangdang. And the financing will be used to expand and facilitate operations, including the expansion of product categories, expanding logistics capabilities, improving the underlying technology.

NASDAQ Capital


Nasdaq specifically for the growing market of companies, the Nasdaq SmallCap market share has more than 1,700 stocks listed. As a Nasdaq listing standards of small capitalization levels, the financial index requirements no less stringent listing standards worldwide market, but they co-management standard is the same. When a small amount of capital the company's development and stability, they usually upgrade to the NASDAQ Global Market.


In comparison, the Nasdaq has its own characteristics:

1, track system. In terms listed separately to implement the Nasdaq National Market and small cap markets two different sets of standards. In general, the more the size of the company were trading on the national market; while smaller emerging companies traded on the Small Cap market, because of the implementation of the listing requirements of the market is not so high. But the Securities and Exchange Commission for the two markets and the scope of regulation makes no difference.


2, the trading system. Nasdaq market has strong technical strength, which uses highly efficient "electronic trading system" (ECNs), 50 million units of computer terminals were installed around the world, traders in all corners of the world, fund managers and brokers offer a comprehensive transfer more than 5,000 kinds of securities trading and the latest information. However, these terminals can not be directly used for securities transactions. If securities brokers and dealers to conduct transactions outside the United States, it is generally required to obtain market information through a computer terminal, and then use the telephone notification of the transaction in the US National Association of Securities Dealers member companies. Since the introduction of a computerized trading system, low operating cost management and Nasdaq, high efficiency, but also increase the openness of the market, liquidity and effectiveness.

3, making the city man. Nasdaq has its own market maker system (MarketMaker), they are some of the independent stock traders, for investors to bear some stocks to buy and sell. This institutional arrangement is especially important for those lower market value, less the number of transactions in the stock. These market makers as a member of the NASD, which is composed of VSE's sponsor is the same way. Each only in Nasdaq-listed stocks, there must be at least two market makers for stock quotes; some of the larger, more active trading of stock market makers can often reach 40 to 45. On average, the number of people making non-US stock market is about 11. Throughout the Nasdaq market, there are more than 500 markets around the city made people (marketmaker), which, on the motherboard active market manipulators who have 11. These market makers, including Merrill Lynch, Goldman Sachs, Salomon Brothers, the world's top investment banks. Nasdaq market maker system increasingly trying to make this listed company's shares can be traded at the best price, while safeguarding the interests of investors.

4, the sponsor system. In the Nasdaq market, making the city people can buy and sell stocks, but also the sponsor shares, in other words, they can make on their own as a city of people to conduct a study published in respect of the company's equity research report and make recommendations.

5, transaction reporting. City must make within 90 seconds authorities reported the National Association of Securities Dealers in the market to complete the transaction after each transaction sum (the entire batch of shares). The number and price of the sale transaction information then is forwarded to computer terminals around the world. These data transaction reports as a basis for future National Association of Securities Dealers audit.

listing standards

listing standards there are three:


Shareholders' equity amounted to $ 15 million;

a fiscal year or the past three years, two years with $ 1 million of pre-tax income;

public float of 1.1 million;

the value of the public float $ 8.0 million;

purchase price per share of at least $ 5;

there are at least 400 shareholders holding more than 100 shares;

3 market makers ;

must meet corporate governance requirements.

Standard Two

Shareholders' equity amounted to $ 30 million;

110 million public float;

public float market value up to $ 18 million;

purchase price per share of at least $ 5;

there are at least 400 shareholders holding more than 100 shares;

3 Ge-making business;

two years of operating history;

must meet corporate governance requirements.

standard three

market value of $ 75 million; or, total assets and total revenue of $ 75 million, respectively;

110 million for public float volume;

public float market value of at least $ 20 million;

purchase price per share of at least $ 5;

there are at least 400 holders 100 above shareholders;

4 market makers;

must meet corporate governance requirements.

companies listed on NASDAQ want, need to meet the following three conditions and a principle:


Business biochemistry, biotechnology, medicine, Technology (hardware, software, semiconductors, networking and communications equipment), joined, manufacturing and retail chain services company, expires economic activity more than one year, and has a high growth, high potential person.

negative conditions

net tangible assets of nearly three years in which more than 5 million dollars in two years, or the last year in pre-tax net profit of US $ seven hundred and fifty thousand yuan or more, or Pre-tax income of $ seven hundred and fifty thousand yuan or more, or the company market capitalization (MarketCapitalization) in US dollars fifty million yuan or more.

positive conditions

SEC and NASDR review after the passage of more than 300 people need public shareholding (NON-IPO holding company was set up in foreign countries, the original shareholders must exceed 300 people) to listing, the so-called public float according to the US Securities and Exchange Commission Manual (SECManual) pointed out that the number of shares held by public shareholders need more than the whole of the shares, while the US share of the whole is the basic unit of 100 shares in circulation.

principles of integrity

Nasdaq popular slang: Anycompanycanbelisted, buttimewilltellthetale (any company can be listed, but time will tell). This means that, as long as the application of the company uphold the principle of good faith, listed sooner or later, but time will decide everything with integrity.

listing process

initial public offering process is challenging, exciting process, bold decision, the team's outstanding performance on the market and good market conditions, "climate, geography , and the "coordination achieved, will show style and image of success based on the US capital market for Chinese companies.

team of consultants

The company is finally available in the US, often the result of an effective team of consultants listed on the successful operation. In addition to the company itself, in particular, the company's senior management, need to invest a lot of time and effort, the company must make up a team of consultants on the market, including investment banking, legal advisers, including accountants. Among them, the investment bank will lead the entire process leading trading and underwriting. When considering candidates for investment banking, investment banking company should be fully aware whether other companies have assisted the industry market experience and its ability to sell. The company selected must have a legal adviser qualification United States, the same, the company should consider whether it has extensive experience in the securities business. CPAs should be in accordance with US GAAP generally independent review of the financial situation of the company. China's accounting firm should also have a comprehensive understanding of accounting standards, in order to adjust the number of data to meet the reporting requirements of US GAAP.

Due diligence

The company will manage the company's operations, financial and legal aspects of the comprehensive, in-depth due diligence with the help of a team of consultants listed. Due diligence for the company to draft registration statement, the prospectus foundation, road show promotions. In order to better grasp and understanding of the issuing company's business situation, in order to facilitate the drafting of precise and attractive prospectus, the lead underwriter, underwriter's counsel and the issuance of the company's legal counsel will issue the property and related contract agreement for an extensive review, including all loan agreements, important government contracts and licenses, and so on. In addition, they will also be discussed with the company's senior managers, financial officers and auditors and so on. At the same time, the lead underwriter often

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