NASDAQ, standing for the National Association of Securities Dealers Automated Quotation system, is one of the largest markets in the world for the trading of stocks（股票）. The number of companies listed on NASDAQ is more than that on any of the other stock exchanges in the United States, including the New York Stock Exchange (NYSE), and the American Stock Exchange (AMEX). The majority of companies listed on NASDAQ are smaller than most of those on the NYSE and AMEX. NASDAQ has become known as the home of new technology companies, particularly computer and computer-related business. Trading on NASDAQ was started by stock brokers acting on behalf of their customers. The brokers talk with market makers who devote themselves to trading specific stocks to reach a price for the stock.
Unlike other stock exchanges, NASDAQ has no central place where trading takes place. Instead, its market makers are located all over the country and make trades by telephone and the Internet. Because brokers and market makers trade stocks directly instead of on the floor of a stock exchange, NASDAQ is called over-the-counter market. The term over-the-counter refers to the direct nature of the trading, as in a store where goods are handed over a counter.
Since its birth in 1971, the NASDAQ Stock Market has been an industry innovator (革新者). As the world’s first electronic stock market, NASDAQ long ago started technological trading innovation that is unequalled. Now becoming the world’s first truly global market, the NASDAQ Stock Market is the market of choice for business industry leaders worldwide. By providing an efficient environment for raising capital (资本), NASDAQ helped thousands of companies get their desired growth and successfully make the jump into public ownership.
1. According to the passage, NASDAQ _____.
A. is a large international business group with many small companies
B. is a large American stock market especially for new technology business
C. is the largest stock exchange mostly for large companies of all kinds
D. has as many companies listed as NYSE or AMEX
2. The word “brokers” in Paragraph 1 probably refer to persons who _____.
A. provide information about stocks B. hold stocks in a business
C. buy and sell stocks for others D. are in charge of the stock market
3. Which of the following best describes the nature of NASDAQ’s trading?
A. Its market makers can trade with brokers directly all over the country.
B. It has its central places for trading stocks all over the world.
C. Its customers can buy and sell stocks in its center by the Internet.
D. It was started by stock brokers on behalf of the market makers.
4. It can be inferred from the passage that _____.
A. NYSE carried out technology trading innovation as well as NASDAQ
B. all business leaders can enlarge their companies with NASDAQ’s help
C. AMEX is doing as well in trading as NASDAQ
D. a large quantity of companies listed on NASDAQ can develop their business successfully