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Nasdaq: A Timeline

Traders Magazine, January 1999

Monica Simms

1963 - The Securities and Exchange Commission releases a study finding the over-the-counter market in need of improved regulation, and proposes that the market be automated. The SEC allows the National Association of Securities Dealers to run the market. At the time, all market activity is handled entirely over the telephone and via physical delivery of certificates. No central place exists to obtain fair market quotes.

1968 - The NASD retains Bunker-Ramo Corp. to help design and build a new, automated system to be called the NASD Automated Quotation, or Nasdaq. Cost for the five-year project is estimated at $25 million.

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