When The Nasdaq Stock Market wanted to reach investors directly with news of its changing marketplace, it turned to the medium leading the way into the next millennium--the World Wide Web. During a recent day of record trading volume on Nasdaq, nasdaq.com logged more than 20 million hits in one day. The site kept investors apprised of rapidly shifting prices, and allowed them to check on specific stocks and industry sectors. Andy Grove, CEO of Intel, said in a recent New Yorker interview, 'The Internet means universal global connectivity. . . . in a few years there will be a billion interconnected computers operating in the world, such an incredible network will turn into a medium for everything--entertainment, commerce, medicine.' So what does this mean for your company in the short, as well as the long-term? The message is simple--to remain competitive on an international, national, and even local basis, a company must have a presence on the Web.

Stage one

Nasdaq.com was developed to provide investors access to useful and user-friendly information, such as the ability to set up and monitor portfolios, track historical performance of stocks, and search for relevant news on the market or a specific company. As recently as two years ago, this would have been a cumbersome and time-consuming process. The Web, however, has revolutionized the way information flows to and from companies, vastly increasing both the speed and the volume of data that can be communicated. As a result, Nasdaq.com has become one of the most visited financial sites on the Web, receiving an average of more than 6 million hits daily. In addition, it links to the Web sites of more than 3,000 Nasdaq-listed companies, such as Microsoft, Intel, Northwest Airlines, and Nordstrom.

What's next?

Nasdaq recently unveiled a new site whose content is aimed at the media. The Nasdaq Newsroom, found at nasdaqnews.com, offers reporters access to breaking news, hourly audio market updates, and historical market data. E-mail messages will soon provide direct response alerts to reporters who request the service. Nasdaq created an area within the Newsroom to delve deeper into media coverage. The U.S. financial markets are complicated institutions and are frequently misunderstood. In this forum, we focus on specific statements reported in the media and examine errors or offer more information on the issue. There is some concern that this spotlights inaccurate coverage, providing additional exposure to errors, but given the proliferation of archived and searchable databases, incorrect data has a long shelf life. Certainly, before taking this route, we make sure we have the facts right--and this never substitutes for direct contact with the reporter, and a request for correction in the publication.

Targeting directly

There is increasing discussion among the media and other groups about the disintermediation effect of the Web--the elimination of the filter provided by independent journalists. That's because the Web increasingly offers companies, trade groups, and associations the opportunity to speak directly to their audiences, rebut inaccurate information that may have appeared in mainstream media outlets, and simply interact more closely with customers, clients, and the public. It is unrealistic, however, to believe that this could replace traditional media outlets, but it does offer consumers more ways to access information. Nasdaq includes the Web in every major event. For example, in a recent joint announcement with MCI, we broadcast the entire press conference over the Web, allowing reporters, interested investors, and anyone else to tune in to hear and see the event live, or view it later via an archive.

Site Management

Depending on a company's reach and target audience, there's no reason to have only one Web site. The National Association of Securities Dealers (NASD), parent corporation of The Nasdaq Stock Market, currently has eight sites, each developed for a specific audience, and linked by common themes and consistent messages. In addition to Nasdaq's flagship site at nasdaq.com and nasdaqnews.com site, there are six corporate sites, including: the NASD's site at nasd.com features industry and membership information; nasdr.com, the site of NASD Regulation, contains regulatory information for brokers; a site for individual investors at investor.nasd.com; nimi.com, a Nasdaq subsidiary that exports Nasdaq technology and expertise to emerging stock markets around the world; nasdaq-online.com, a private site for CEOs, CFOs, and company investor relations departments; and nasdaqtrader.com, which targets the financial trading community. Coordination inside the corporation is vital when dealing with multiple sites. The NASD has a committee to establish and maintain standards and consistency. Centralized coordination helps ensure that the company is not disseminating conflicting information and that overall, corporate messages align and reinforce one another.