                                                55

3.2.3     

         -
         ,   
         (over the counter).
       ,   , 
         , .  
,    ,    (over-the-counter
market, OTC).         -
 (   ) .

      .  1971 . 
      
   (National Accociation of Securities Dealers Automated Quotations, NASDAQ),
       (National Association of
Securities Dealers, NASD).       -
  ,      -
           
.

,      NASDAQ,  
        ,    
, ..          
 ( ).         
   (  100 ).  
         ,  
   .      
   .

       ,   ,
   ,       
, ,   ,    .   -
       ,      
 .       ,  
            
  .         Wall
Street Journal:  ,   .

 ,        
,   ,      
     . ,   ,  
       , 
     ,     
  .       ,  -
        ,    
     .     , 
         ,  
,     ,     
  .

       
NASDAQ,          ,
   .        
     ,     -
  ,   12.   ,  
           ( ,
 NASDAQ   ).      -
     .      ,  