What characterizes NASDAQ as an exchange?

NASDAQ is characterized by its foundation in 1971 and its prominent focus on technology stocks. As one of the largest stock exchanges in the world, it is well-known for being a marketplace where many of the leading technology companies are listed, including giants like Apple, Amazon, and Microsoft. The exchange was the first to offer electronic trading, which has significantly influenced how stocks are bought and sold today. This innovation attracts a wide array of tech-focused investments, leading to its reputation as a tech-heavy exchange.

The other options do not accurately describe NASDAQ's characteristics. It does not concentrate on agricultural stocks or specialize in real estate investments, nor does it primarily list bonds and fixed-income securities. Instead, NASDAQ's identity is deeply rooted in its technology orientation, making the choice that highlights its establishment and focus on technology stocks the most accurate.