Definition and detailed description of what the nasdaq is

Nasdaq is a global electronic marketplace for buying and trading securities, including stocks, derivatives, fixed income, and commodities. Here's a detailed description of what Nasdaq is:

1. History: Nasdaq was founded in 1971 as the National Association of Securities Dealers Automated Quotations (NASDAQ), which later became the Nasdaq Stock Market. It started as a subsidiary of the National Association of Securities Dealers (NASD), now known as the Financial Industry Regulatory Authority (FINRA), and was launched to automate the market for securities not listed on an exchange.
2. Functionality: Nasdaq operates as an electronic exchange, allowing buyers and sellers to interact and execute trades through a computerized system. It provides real-time quotes, market data, and trading facilities for a wide range of securities.
3. Market Segments: Nasdaq comprises three tiers: the Nasdaq Global Select Market, the Nasdaq Global Market, and the Nasdaq Capital Market. The highest tier, the Nasdaq Global Select Market, lists large-cap stocks with the least stringent listing requirements. The Nasdaq Global Market lists mid-cap stocks, and the Nasdaq Capital Market is for smaller companies with less stringent requirements.
4. Listing Requirements: Companies listed on Nasdaq must meet certain financial, governance, and liquidity standards. They must have a minimum bid price of $1.00, a minimum closing price of $1.00, and a minimum market capitalization of $50 million.
5. Technology: Nasdaq's trading technology is used by over 100 exchanges in 50 countries, demonstrating its global reach and influence.
6. Financial Performance: Nasdaq is the most active stock trading venue in the U.S. by volume and is the second-largest stock exchange by market capitalization, behind the New York Stock Exchange (NYSE).
7. Index: The Nasdaq Composite is the main index tracking the overall performance of companies listed on Nasdaq. It includes over 2,500 stocks and is one of the world's preeminent large-cap growth indexes.
8. Market Tiers: Companies listed on the NASDAQ are grouped into three different tiers based on market cap: Capital Market, Global Market, and Global Select Market. Capital Market is a market for stocks with smaller levels of market capitalization and with the least stringent listing requirements. Global Market and Global Select Market features mid-cap and large-cap stocks, respectively, and face strict regulations regarding corporate governance and liquidity standards.
9. Revenue Streams: Nasdaq generates revenue through various services, including corporate services, information services, market services, and technology services.
10. Impact: Nasdaq has significantly impacted the financial industry by providing a platform for global securities trading and has been at the forefront of technological advancements in the exchange industry.

In conclusion, Nasdaq is a global electronic marketplace that has evolved from its origins as a securities exchange to become a key player in the global financial system, providing innovative trading platforms and services.