"We are spending $600 million to establish our global network on World Com MCI for trading on the Internet. Part of this programme has already rolled out. We have to provide tomorrow's market in this fast-moving financial world," Nasdaq International president John T Wall told The Financial Express.

"The New York Stock Exchange is spending $1.5 billion for building its new trading floor, we are spreading our wings world-wide and providing new technology and new methods of trading to join the market," Wall added.

In trading terms, Nasdaq had the distinction of being the world's largest market in dollar terms during January-February this year, with billion shares a day amounting to $30 billion.

Now with all its priority set, Nasdaq aims at the Indian market too. Infosys has already listed its 100,000 shares on the Nasdaq. "Infosys is doing verywell here. I must congratulate its chairman for taking this brave decision of entering the world market. What more can I say about this company which gets 83 per cent of its revenue from here," said Wall.

With Infosys already showing the way for others to follow, Nasdaq expects not less than three other Indian companies to join the market by the end of this year. "Though the prediction is for 100 companies, however, I am confident that at least three companies from India will list themselves by the year-end. Also, with the Government taking some positive steps, more companies may also join the fray," said the Nasdaq president.

Nasdaq, which now considers itself as a "baby" in front of the NYSE, proposes to offer stock options to its employees to compete in the US market.

The bourse which usually trades "technology shares" also hopes that bio-tech, information technology, pharmaceutical and bank shares from India will list itself soon. "Now our prime target areas in Indian market is for these sectors.Israel has already listed its 100 shares here with us and all of them are doing well. What is the harm in earning in dollar terms?" asked Wall.

Infosys closed at $41.75 on Nasdaq this weekend, a good $7.75 over the initial public offering of $34. What is more surprising, that the company's share value in Nasdaq is still much more than its shares listed in the Bombay Stock Exchange. Infosys closed at Rs 2,829 on the BSE this week-end.

Almost 5,400 companies trade their securities on Nasdaq, which stands apart from the other stock markets through its use of today's information technologies -- computers and telecommunications -- in place of a traditional trading floor. Some 519 dealers known as `market makers', representing some of the world's largest securities firms, provide more than 60,000 competing bids, and offers to sell, Nasdaq stocks. This extensive activity is conducted through a vast computer network that displays the best of these quotations to investors in 52 countries now.

However, with thenew expansion programme, more countries will join the Web by the year-end. Nasdaq also proudly acclaims that its share volumes surpassed that of the New York Stock Exchange -- 123 out of 124 trading days (99.2 per cent of trading days).

Also, the market capitalisation reached a high for the first half of 1998 on April 22 at $2.3 trillion. It ended the mid-year at $2.3 trillion, up 32.18 per cent from 1997's mid-year closed at $1.7 trillion.

On the vision of Nasdaq, Wall said: "Either you list your stocks here and join the ultimate market, or you stay on the trading floor. We have started our own website and have joined the Hong Kong market. In long-term basis, we plan to link. We are prepared to loose 15 to 20 per cent of volumes by linking with other bourses in the world. We are also aware that we will loose some of our revenue, but how can we ignore the presence of such a huge untapped market. Ultimately it will solidify our market base and prove beneficial in long-term."