On February 8, 1971, the world’s first electronic stock exchange, NASDAQ, opened for business. Today, NASDAQ is the second-largest stock exchange in the world, second only to its Wall Street neighbor, the New York Stock Exchange.NASDAQ’s accessible electronic format changed stock trading forever. It lowered the “spread”—the difference between the price a broker is willing to pay a client for a stock (the “bid price”) and the price at which a broker is willing to sell a stock to a client (the “ask price”).
Term Part of Speech Definition Encyclopedic Entry accessible Adjective
relatively easy to approach, use, or obtain.
ask price Noun
lowest price a seller is willing to accept for a good. Also called an offer price.
bid price Noun
highest price a buyer is willing to pay for a good.
person who buys or sells goods on behalf of another person, in return for a commission.
(National Association of Securities Dealers Automated Quotations System) American electronic stock exchange.
Silicon Valley Noun
region in central California (mostly Santa Clara County) where the headquarters of many technology companies are located.
motto or phrase associated with an organization or individual.
stock exchange Noun
place where investments (stocks) in goods are bought and sold.
the science of using tools and complex machines to make human life easier or more profitable.
Wall Street Noun
leading financial district in the U.S., named after the street in lower Manhattan, New York City, where the New York Stock Exchange and many large investment firms are located.