"NASDAQ is the second largest securities market in the United States (after the New York Stock Exchange) and the third largest in the world (after Tokyo). The heart of our market is the NASDAQ quotation system."
– Jack Samarias, Vice President, Information Systems

Association Large shop


The National Association of Securities Dealers (NASD) is a self-regulatory organization for the over-the-counter securities market. They give certification examinations, check the qualifications of general stockbrokers and the licenses of people who sell mutual funds, and sell stock price information collected through the NASDAQ system to online services.

NASD was founded in 1939. They operate under the oversight of the Securities and Exchange Commission (SEC), but they are member-financed, like the New York and American stock exchanges. All of their business is commercial. Headquartered in Washington, D.C., with annual revenue figures of $183 million, NASD is a not-for-profit organization. They have more than 2,000 employees, including 900 in the Washington area.



NASD's hardware includes Tandem, Sun workstations, and PCs. New development is in COBOL85, C, and NONSTOP SQL. Additional software includes UNIX, TAL, ENFORM, PATHWAY, SCOBOL, TAP (a general ledger and accounting package), and INFORMIX. NASD provides complete backup capability on a UNISYS 1192 for NASDAQ's data center in Trumbull, Connecticut.

NASD is organized into divisions, departments, and sections. There are 400 employees in the Automation Division. The Information Systems Department's 110 people in Rockville develop systems that include the following: administrative, financial, and membership systems; compliance systems; marketing and legal systems; and certification testing systems. Job titles include Programmer, Requirements Analyst, Assistant Director, and Director. Approximately 40 percent of the work is new development.


Managers have inside offices; programmers and analysts have cubicles with windows. No smoking is allowed in cubicles or public spaces, but there is a special smoking section in the cafeteria. All employees have PCs on their desks attached to a LAN. There is rarely a need for travel. Overtime is unusual, and, when it occurs, is not compensated. NASD offers computer professionals a beautiful physical environment, competitive salaries, good benefits, and challenging projects.

NASD observes 8 holidays with 1 additional floating holiday. They offer 2 weeks of vacation to start, which increases with years of service. NASD offers a flexible benefits program with options for medical, dental, vision, life, and long-term disability insurance coverage. Short-term disability is paid by NASD.

The company pays the majority of tuition for up to two courses per semester or quarter. NASD funds a retirement plan and partially matches employee contributions to a 401(k) savings plan. NASD has only had one layoff; it was in 1975.


NASD prefers to hire midlevel people with qualifications in one or more of the organization's technical areas. NASD does hire entry-level people; they should have a minimum of an Associate's degree and 1 year of training at a programming school, or they should have a Bachelor's degree. NASD looks for people who are intelligent and can take charge. The average computer professional at NASD has 4 years of experience.

NASD finds new employees through advertisements and referrals and typically hires 10 computer professionals a year.


A letter is preferred.

Manager of Recruiting

Human Resources Department

(202) 728-8470 (Washington, D.C.)

(301) 590-6821 (Rockville, Maryland)

National Association of Securities Dealers, Inc.

9513 Key West Avenue

Rockville, Maryland 20850

Copyright 1993. Vandamere Press. Covin’s Washington Area Computer Job Guide