Michael Quiel is an experienced investment banker and stockbroker with more than two decades in his profession. With skills in hedge fund management, capital formation, brokerage management, and more, Michael Quiel took on his current role as owner and president of Legend Advisory Corporation in 2001, where one of his duties is investing and advising the listing of companies in stock market systems like NASDAQ.
NASDAQ is a computerized marketplace created more than 40 years ago to list stocks for investors to buy and sell with more ease and efficiency. Once a part of the National Association of Securities Dealers (NASD), the system separated from the association in 2006 and later joined with the Scandinavian exchange group OMX. While NASDAQ refers to the system through which stocks are exchanged, two distinct indexes are used to gauge the stock market’s performance and to perform a statistical analysis of the market.
The Dow Jones Industrial Average (DJIA) is one such index, providing an average of the price movements of stocks from about 30 companies on the New York Stock Exchange that are tracked by the Dow. The other index is the NASDAQ Composite Index. This charts about 4,000 companies, providing statistical data similar to the DJIA for tracking stock prices, but based only in the NASDAQ exchange.