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Nasdaq small-cap market securities The Nasdaq small-cap market consists of over 1400 companies that want the sponsorship of market makers, have applied for listing, and meet specific and financial requirements. Once a company is approved and listed on this market, market makers are able to quote and trade the company's securities through a sophisticated electronic trading and surveillance system. The Nasdaq small-cap market operates from 9:30 a.m. to 4:00 p.m. EST, with extended trading in SelectNet from 8:00 a.m. to 9:30 a.m. EST and from 4:00 p.m. to 5:15 p.m. EST. |
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National Association of Securities Dealers, Inc. (NASD) The self-regulatory organization of the securities industry responsible for the regulation of the Nasdaq stock market and the over-the-counter markets. The NASD operates under the authority granted it by the 1938 Maloney Act Amendment to the Securities Exchange Act of 1934. |
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Net change The difference between today's last trade and the previous day's last trade. |
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No quote (NQ) No market makers making an inside market at this time. |
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Open order An order to buy or sell a security that remains in effect until it is either canceled by the customer or executed. |
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Penalty bid A syndicate penalty bid can be displayed on the Nasdaq system during the period of a registered public offering of a security. Such a bid may be entered by the managing underwriter or a member of the underwriting group acting on its behalf, and is intended to facilitate the offering by stabilizing the price of the security during the distribution period. This activity is permissible under SEC Rule 10b-7. |
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Presyndicate bid A presyndicate bid can be entered in the Nasdaq system to stabilize the price of a Nasdaq security prior to the effective date of a registered secondary offering. This activity is permissible under SEC Rule 10b- 7. |
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Previous day's close The previous trading day's last reported trade. The previous day's close on the Nasdaq web site is updated at 8:30 a.m. EST. |
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Principal orders Refers to activity by a broker-dealer when buying or selling for its own account and risk. |
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Real-time trade reporting A requirement imposed on market makers (and in some instances, non-market makers) to report each trade immediately after completion of the transaction. Stocks traded on the Nasdaq stock market are subject to real-time trade reporting within 90 seconds of execution. |
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Securities and Exchange Commission (SEC) The federal agency created by the Securities Exchange Act of 1934 to administer that act and the Securities Act of 1933. The statutes administered by the SEC are designed to promote full public disclosure and protect the investing public |
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