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John l. JaCobs
us was working on this full-time, and our goal was simply to create
a NASDAQ-branded financial product so that investors and traders
could participate directly in one of the most widely followed bench-
marks in the world. Millions of times a day, investors and traders asked
the question, “How is the market doing?” and one of the answers was
always “e NASDAQ was up (or down or flat) x number of points
and volume is heavy.” For the first time, instead of just being a leading
market barometer, NASDAQ was about to become a financial instru-
ment accessible to the individual investor.
We sketched out a preliminary timeline and basic budget, although
the timeline had one unknown factor. Up until this point in 1997, all
index share products ...