The Bunker Ramo Corporation of Trumbull, Connecticut, developed the first computer system, which Nasdaq later exercised its option to purchase. Today, after many technological improvements, Nasdaq’s network is one of the largest and fastest in the world, able to deliver data at any point throughout its system in less than half a second, and demonstrating a reliability record last year of 99.95 percent.
Over the long-term, its growth has been phenomenal (see attached fact sheet). In addition, this particular commemoration comes at the time of the most significant restructuring of any stock market in this country’s history-the demutualization of Nasdaq.
Only three chairmen have presided over the market in those 30 years: Gordon Macklin, who served from 1971 to 1987; Joseph R. Hardiman, from 1987 through 1996; and Frank G. Zarb, who has served from 1997 to the present.
"Among the dreams from Nasdaq’s early days were, one, to make global capital available to a greatly expanded universe of companies; and two, to expose far more opportunities for participating in dynamic growth companies to the investing public," said Macklin. "The evidence is beyond debate that Nasdaq is fulfilling those dreams. And the prospects for further growth are exciting."
Commented Hardiman, "The Nasdaq Stock Market added a dimension to America’s capital markets that didn’t exist anyplace else in the world-access to public investors for young, rapidly growing companies. Many of these companies have been the driving force behind the information technology revolution that we are experiencing today. In recent years, that access has been expanded to companies wherever they are located. The next step is to make these companies available to investors wherever they are located. Nasdaq is uniquely positioned to accomplish this goal."
"Nasdaq has created an entrepreneurial class, a venture capital class that didn’t exist prior to its arrival and brought Wall Street to Main Street," said Zarb. "In its first complete year of operation-1972-Nasdaq reported trades of about 2.2 billion shares. This year, we average that amount daily. We are well-positioned to be the leader in creating the global, digital stock market of the future."
The Nasdaq Stock Market lists 4,700 companies, trades more shares per day and has more non-U.S. listings than any other American market, and has a larger average daily dollar volume than any market in the world. For more information about Nasdaq, visit the Nasdaq Web site at www.nasdaq.com or the Nasdaq NewsroomSM at www.nasdaqnews.com.
