Editing Nasdaq (section)

==Market tiers==
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The Nasdaq Stock Market has three different market tiers:

* '''Capital Market''' (NASDAQ-CM [[Market capitalization|small cap]]) is an equity market for companies that have relatively small levels of market capitalization. Listing requirements for such "small cap" companies are less stringent than for other Nasdaq markets that list larger companies with significantly higher market capitalization.<ref>{{Cite web |title=Definition of 'Nasdaq SmallCap Market', now known as Nasdaq Capital Market |url=https://www.investopedia.com/terms/n/nasdaq-smallcap-market.asp |url-status=live |archive-url=https://web.archive.org/web/20130804063221/http://www.investopedia.com/terms/n/nasdaq-smallcap-market.asp |archive-date=August 4, 2013 |publisher=[[Investopedia]] }}</ref>
* '''Global Market''' (NASDAQ-GM [[mid cap]]) is made up of stocks that represent the Nasdaq Global Market. The Global Market consists of 1,450 stocks that meet Nasdaq's strict financial and liquidity requirements, and corporate governance standards. The Global Market is less exclusive than the Global Select Market.<ref>{{Cite web |title=Definition of 'Nasdaq Global Market Composite' |url=https://www.investopedia.com/terms/n/nqgm.asp |url-status=live |archive-url=https://web.archive.org/web/20130917082250/http://www.investopedia.com/terms/n/nqgm.asp |archive-date=September 17, 2013 |publisher=[[Investopedia]] }}</ref> It was formerly known as the National Market until July 1, 2006.<ref>{{cite press release |url=https://dfpi.ca.gov/wp-content/uploads/sites/337/2019/03/87c.pdf |title=Exemption from Qualification Requirements for Nasdaq Global Market and Nasdaq Capital Market Securities Under Corporations Code Section 25100(o) |publisher=State of California Business, Transportation and Housing Agency Department of Corporations California's Investment and Financing Authority |date=August 17, 2009 |access-date=January 20, 2025}}</ref>
* '''Global Select Market''' (NASDAQ-GS [[large cap]]) is a market capitalization-weighted index made up of US-based and international stocks that represent the [[NASDAQ Global Select Market Composite]] (NQGS). The Global Select Market consists of 1,200 stocks that meet Nasdaq's strict financial and liquidity requirements and corporate governance standards. All components of the [[Nasdaq-100]] and the [[Nasdaq Financial-100]] indices are listed on the Global Select Market. The Global Select Market is more exclusive than the Global Market. Every October, the Nasdaq Listing Qualifications Department reviews the Global Market Composite to determine if any of its stocks have become eligible for listing on the Global Select Market.<ref>{{Cite web |title=Definition of 'Nasdaq Global Select Market Composite' |url=https://www.investopedia.com/terms/n/nqgs.asp |url-status=live |archive-url=https://web.archive.org/web/20131004025826/http://www.investopedia.com/terms/n/nqgs.asp |archive-date=October 4, 2013 |publisher=[[Investopedia]] }}</ref><ref>{{Cite book |last1=Pinto |first1=Jerald E. |url=https://books.google.com/books?id=XCL9bkrOrpcC |title=Equity Asset Valuation |last2=Henry |first2=Elaine |last3=Robinson |first3=Thomas R. |last4=Stowe |first4=John D. |publisher=[[John Wiley & Sons]] |year=2010 |isbn=9780470579657 |edition=2 |series=CFA Institute Investment Series |volume=27 |page=6 |quote=[...] NASDAQ-GS stands for 'Nasdaq Global Select Market,' [...] |archive-url=https://web.archive.org/web/20130510182228/http://books.google.com/books?id=XCL9bkrOrpcC |archive-date=May 10, 2013 |url-status=live }}</ref>