Finance History | Nasdaq — The Screen at 4 Times Square
· 2000-1
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Finance History | Nasdaq — The Screen at 4 Times Square
kevin
Nasdaq began on 8 February 1971 as an electronic quotation system for over-the-counter stocks.
The National Association of Securities Dealers hired Bunker-Ramo of Trumbull, Connecticut, to build terminals that let market makers update bids and offers on a screen instead of on a floor.
There was no trading pit. The point was the opposite of 18 Broad Street.
For the first decades the market lived in data rooms and in a smaller display downtown. In 1998 Nasdaq leased the northwest corner of 4 Times Square.
The eight-story LED cylinder called MarketSite began lighting on 28 December 1999 and opened to the public on 1 January 2000.
Contemporary reports put the display's cost at 37 million dollars in 1999.
The listed parent, Nasdaq, Inc., now keeps corporate offices at 151 West 42nd Street, in the same block.
MarketSite is the part a stranger can see: a screen on Times Square that stands in for a market that never needed a floor.
Photo: ajay_suresh, CC BY 2.0, via Wikimedia Commons. Studio interior also via Wikimedia Commons, CC BY 2.0.
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