MARKETING THE MARKET : NASDAQ INTRODUCES MEDIA SOUND STUDIO.Byline: Andrew Fraser Associated Press When the stock market was rocking last week, television networks showed trading on the floor of the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , but there wasn't a glimpse of the Nasdaq Stock Market's floor. The reason is easy. There isn't one. But the electronically linked nationwide network of brokers, a market that exists largely in cyberspace, has created what it hopes will be an enhanced presence on television, intensifying its rivalry with the NYSE NYSE See: New York Stock Exchange . Inside its Manhattan offices, Nasdaq has gussied gus·sy tr.v. gus·sied, gus·sy·ing, gus·sies Slang To dress or decorate elaborately; adorn or embellish: gussied herself up in sequins and feathers. up a display of stock information that can serve as a backdrop for TV reporters who want to convey the excitement of the market to viewers. Nasdaq's new TV studio is a 55-foot wall consisting of 100 TV monitors that will show computer-generated graphics and other information. But Nasdaq executives downplayed the notion of brawling with the NYSE for TV exposure. ``We didn't wake up one morning and say, `Let's compete with the New York Stock Exchange,' '' said Frank Zarb, president of the National Association of Securities Dealers National Association of Securities Dealers (NASD) Nonprofit organization formed under the joint sponsorship of the investment bankers' conference and the SEC to comply with the Maloney Act, which provides for the regulation of the OTC market. , parent of Nasdaq. ``But it does indeed give us the same kind of presence.'' The studio, an idea that was first conceived three years ago and cost about $8 million to build, may help take some of the mystery out of the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. and give it a physical identity. However, it will bear no resemblance to the bustling trading floor of the NYSE. The facility could break the monopoly on free television publicity the NYSE has enjoyed for many years. The NYSE has allowed TV reporters a smidgen of space on its trading floor to provide financial news - even as they are jostled by frenetic traders. The sight is familiar daily on financial networks such as CNBC CNBC Center for the Neural Basis of Cognition (artificial intelligence) CNBC Consumer News and Business Channel CNBC Congress of National Black Churches, Inc. and CNNfn. The Nasdaq facility won't provide a shot of chaos - or calm - on Wall Street, but market executives hope its display of up-to-the-minute stock activity might be a good substitute to lure broadcasters. Nasdaq officials emphasized that the studio is intended to serve as a useful tool to present stock market information to investors in an exciting and easy-to-understand fashion. But they welcomed the opportunity to siphon siphon (sī`fən, –fŏn), tube through which a liquid is lifted over an elevation by the pressure of the atmosphere and is then emptied at a lower level. some attention from the NYSE. ``Our real goal is to serve our constituencies but we'd be delighted if we did get that publicity,'' said Alfred R. Berkeley III, Nasdaq president. ``If we get it it's the icing on the cake.'' The NYSE refused to comment. CAPTION(S): Photo Photo: (Color) Frank G. Zarb, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Nasdaq's parent firm, stands in front of ``Market Site.'' Associated Press |
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