Nasdaq has introduced a new index of 50 companies, called the the Nasdaq Q-50 Index, that it is considering including in the Nasdaq 100 Index.

Already some are saying that it will be the basis for an exchange-traded fund much like the PowerShares QQQ, based on the Nasdaq 100 Index. The QQQ, or Cubes, is often the most heavily traded security.

“The Nasdaq Q-50 Index is a new benchmark for some of the world’s most up-and-coming growth companies,” said Nasdaq Senior Vice President Steven Bloom. “The index arms investors with a portfolio of some of Nasdaq’s fastest-growing companies in a diverse range of industries” that includes computer hardware and software, telecommunications, retail/wholesale trade and biotechnology.

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