Based in Pittsburgh, Pennsylvania, Jason Damon has developed research-driven strategies as a day trader. With a strong interest in the financial markets, Pittsburgh professional Jason Damon focuses on pathways to generate consistent profits.
The National Association of Securities Dealers Automated Quotations (NASDAQ) was established in 1971 to pioneer a system of electronically posted quotes. The over-the-counter (OTC) stocks did not meet the threshold for listing on the New York Stock Exchange (NYSE) and other larger exchanges. Instead, the stocks had been traded via phone by specialized dealers, which made the stocks challenging for the public to access.
The streamlined electronic access offered by NASDAQ helped the stocks gain much greater traction. In 1975, this success led the exchange to create its own listing requirements and separate large-cap and small-cap companies.
Known for its tech-weighted listings, NASDAQ is distinct from the NYSE in not having a physical location. In addition, unlike the NYSE, which functions as an auction, NASDAQ is set up as a dealers market in which market makers facilitate direct trades between buyers and sellers.
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