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The History: How Nasdaq Was Born

Traders Magazine, January 1999

Monica Simms

In its first humble year of operation in 1971, the Nasdaq Stock Market was broadcast to some 500 market makers across the country, trading nearly two billion shares in about 2,500 securities. The index average at the close of 1971 was just over 100. Nasdaq desktop devices were cathode-ray terminals that provided quotes, market-maker identification numbers, or IDs, and the names of stocks. But little else.

Gordon Macklin, who was president of the National Association of Securities Dealers from 1970 to 1987, recalls those early devices.

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