What is the Nasdaq Composite index ?

Nasdaq stands for the National Association of Securities Dealers Automated Quotation System. Over the counter dealers are linked with the purchasers and sellers of securities with this system. This index is based on companies in the National Market System which covers stocks that are not on an exchange, but rather are traded over the counter. The Nasdaq is not an organization, but an intangible market for the purchase and sale of securities not listed by the organized exchanges like the New York Stock Exchange (NYSE) or the American Stock Exchange (AMEX).