National Association Of Securities Dealers Automatic Quotations (NASDAQ)

A computerized information network that provides brokers and dealers with price quotations on securities traded over-the-counter. The system has three levels. Level I displays a security’s highest bid and lowest offer in the system. Level II displays market maker’s quotes for securities in which they make a market. Level III allows market makers to actually enter their quotes into the system. NASDAQ is owned and operated by FINRA. NASDAQ quotes are published in the financial pages of most newspapers.

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