Further Listening and Speaking
Task1: what do you know about NASDAQ?
As the world’s largest electronic, NASDAQ is not limited to one trading location. Rather, trading is executed through NASDAQ’s complex computer and telecommunication network, which sends real—time quote and trade data to more than 1.3 million users in 83 countries. Without size and location limitations, NASDAQ’s open market structure allows a virtually unlimited number of participants to trade in a company’s stock.
Today, NASDAQ lists the securities of nearly 4,100 of the world’s leading companies, and each year it continues to help hundreds of companies go public.
Trading on NASDAQ is not limited to any fixed number of participants. This allows a large number of firms with widely different business models and trading technologies to connect to the NASDAQ network and compete on an equal basis. Rather than forcing investors to go through a single financial firms called makers. More than 500 market making firms trade on NASDAQ, acting ad distributors for NASDAQ-listed securities. Those market makers are unique in that they invest own capital in NASDAQ-listed securities, and then turn around and distribute the stock as needed. They are required at all times to post their bid and ask prices in the NASDAQ network where they can be viewed by all participants. By being willing to buy or sell stock using their own funds, the market makers strengthen NASDAQ’s market, ensuing that there are always buyers and sellers for NASDAQ-listed securities and enabling trades to be filled quickly and efficiently.
1. How many participants does NASDAQ allow to trade in one company’s stock?
D) An unlimited number.
2. What does NASDAQ’s computer and telecommunications network do?
C) It immediately sends quote and trade information to over 1.3 million users.
3. According to the passage, which of the following is true of NASDAQ?
A) It has launched more than 4,000 companies.
4. What role do the market makers play?
B) They buy and sell NASDAQ stocks to help strengthen the market.
5. Which of the following is the best title for the passage?
A) The operation of NASDAQ.
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