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About Nasdaq 100.
The Nasdaq 100 Index
includes 100 of the largest domestic and international non-financial
companies listed on The Nasdaq Stock Market based on market
capitalization. The Index reflects companies across major industry
groups including computer hardware and software, telecommunications,
retail/wholesale trade and biotechnology. It does not include banking
or investment companies.
Launched in January 1985, the Nasdaq 100 Index represents the
largest non-financial domestic and international issues listed on the
Nasdaq Stock Market based on market capitalization. The Nasdaq 100
Index is calculated under a modified capitalization-weighted
methodology. The methodology is expected to retain in general the
economic attributes of capitalization-weighting while providing
enhanced diversification. To accomplish this, Nasdaq reviews the
composition of the Nasdaq 100 Index on a quarterly basis and adjusts
the weightings of Index components using a proprietary algorithm, if
certain pre-established weight distribution requirements are not met.
The number of securities in the Nasdaq 100 Index makes it an
effective vehicle for investors. In January 1994, options on the
Nasdaq 100 Index began trading on the Chicago Board Options Exchange.
The Chicago Mercantile Exchange began to trade futures and futures
options on the Nasdaq 100 Index in April of 1996. Nasdaq 100 Index
Tracking Stock (QQQQ) began trading on the American Stock Exchange in
March 1999. In addition, the Index is used as a benchmark for
financial products in many countries around the world.
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