A self--regulating securities industry organization responsible for the operation and regulation of the Nasdaq stock market and other over-the-counter markets. NASD members include almost all investment banking houses and firms dealing in the over-the-counter market. The organization sets guidelines for ethics and standardized industry practices, and has a disciplinary structure for looking into allegations of rules violations.

美国全国证券交易商协会。为美国证券商的一个自律团体，简称 NASD。其功能为根据 SEC 的政策，监督所有证券交易及其从业人员。