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NAC
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See National Adjudicatory Council
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NASAA
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See North American Securities Administrators Association, Inc
.
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NASD
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NASD, originally known as the National Association of Securities Dealers, was established in 1939 under the Securities and Exchange Act of 1934. Until 2007, when it consolidated with NYSE Member Regulation to create FINRA
, the Securities Industry Regulatory Authority, NASD was the largest self-regulatory organization for the U.S. securities industry, and the world’s leading private-sector provider of financial regulatory services.
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NASD Rules
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The numbered rules set forth in the NASD Manual beginning with the Rule 0100 Series.
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NASD By-Laws (Marketplace Rules)
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The basic rules and regulations that govern NASD. Attached to the By-Laws are Schedules:
Schedule A - NASD assessments and fees
Schedule B - NASD district boundaries.
Schedule C - Registration and examination qualification requirements.
Schedule D - Participation in the Nasdaq market by issuers and members.
Schedule E - Requirements for distributing a public offering.
Schedule G - Procedures for reporting over-the-counter transactions.
Schedule H - Procedures for reporting and trading non-Nasdaq over-the-counter securities.
Schedule I - Rules governing all aspects of The PORTALSM Market.
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Nasdaq CompositeSM
Index
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A statistical measure that indicates changes in The Nasdaq Stock Market. The Nasdaq Composite Index measures all Nasdaq domestic and foreign common stocks. It is market-value weighted: each company's security affects the index in proportion to its market value. Securities in the Nasdaq Composite Index generally are assigned to subindexes based on their Standard Industrial Classification (SIC) codes. (See market value
, subindex
, Standard Industrial Classification codes
)
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Nasdaq National Market®
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More than 3,900 companies that are the larger and generally more actively-traded Nasdaq securities. (See The Nasdaq SmallCap Market
)
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Nasdaq Quotation Dissemination ServiceSM
(NQDS)
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The NQDS carries real-time quotation information for Market Makers and electronic communication networks (ECNs) in each Nasdaq National Market® and Nasdaq SmallCap MarketSM issue. Using the NQDS data feed, market data vendors are able to create a Level 2 display similar to the Nasdaq Workstation IITM to show the depth of Market Makers at each price level of a Nasdaq-listed security. (See electronic communication network
(ECN), Market Maker
, Nasdaq Workstation II
.)
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Nasdaq Trade Dissemination ServiceSM
(NTDS)
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|
The NTDS carries real-time trade price and volume data to market data vendors and other data feed recipients. NTDS carries the price and size for all trade reports that are submitted to the Automated Confirmation Transaction ServiceSM (ACTSM). For pricing purposes, the Nasdaq Last Sale information is bundled with Nasdaq Level 1 Service. (See Automated Confirmation Transaction ServiceSM (ACTSM))
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Nasdaq Workstation IITM
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|
A computerized trading tool that provides access to all Nasdaq markets for Market Makers, brokers, and institutions. (Formerly named Service Delivery Platform)
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National Adjudicatory Council (NAC)
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The National Adjudicatory Council is a committee of FINRA Regulation, composed of representatives of member firms and the public, that is authorized to review disciplinary, membership, and exemptive proceedings, as well as applications for relief from statutory disqualifications.
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National Securities Clearing Corporation (NSCC)
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A securities clearing corporation formed in 1977 by the merger of the National Clearing Corporation, owned by the FINRA, and the clearing facilities of the New York Stock Exchange (NYSE) and the American Stock Exchange (AMEX). It is a medium through which trades in the respective participants' markets are cleared and settled. (See clearance
, settlement
)
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net change
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The difference between today's last trade and the previous day's last trade.
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net capital rule
|
|
The Security and Exchange Commission requires that all broker-dealers maintain no more than a 15 to 1 ratio between indebtedness and liquid assets. Indebtedness includes money owed to the firm, margin loans, and commitments to purchase securities. Liquid assets include cash, and assets that are easily converted to cash.
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net tangible assets
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An accounting term defined as stockholders' equity minus goodwill. (See equity
, goodwill
)
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neutral
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One or more individuals assigned to mediate through negotiations or arbitrate by adjudication claims between or among disputing parties. (See arbitration
, mediation
)
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new account information form
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Document filled out by a broker that details vital facts about a new client's financial circumstances and investment objectives.
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new issue
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Securities being offered to the public for the first time; subject to the rules of the Securities and Exchange Commission. (See initial public offering
, underwriter
)
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newspaper listings
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The stock price coverage given to securities in newspapers, dependent upon in which market the company trades, the size of the company, and the level of trading activity in the company's stock.
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no quote (NQ)
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|
No Market Makers making an inside market at this time. (See inside market
)
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North American Securities Administrators Association, Inc.(NASAA)
|
|
An association of securities commissioners from each of the 50 states, the District of Columbia, Puerto Rico, and several of the Canadian provinces.
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NQ
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See no quote
|
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NQDS
|
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See Nasdaq Quotation Dissemination ServiceSM
|
|
NSCC
|
|
See National Securities Clearing Corporation
|
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NTDS
|
|
See Nasdaq Trade Dissemination ServiceSM
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NYSE
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New York Stock Exchange
|
