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ＮＡＳＤＡＱ市场的巨大成功，很重要的因素在于其交易机制的创新。从交易机制角度看，ＮＡＳＤＡＱ市场的核心是做市商制度。通过实施竞争性的做市商制度，使ＮＡＳＤＡＱ市场最大限度地保证了证券市场的流动性、有效性和公开性。证券二级市场的流动性以及证券价格的相对稳定
A big part of the huge success of the NASDAQ market is the innovation of its trading mechanisms. From the perspective of trading mechanism, the core of NASDAQ market is the market maker system. Through the implementation of a competitive market-maker system, the NASDAQ market maximizes the liquidity, effectiveness and openness of the securities market. The liquidity of the securities secondary market and the relative stability of the securities prices