The improved communications and computer technology available to the securities industry during the 1980s also played its part. Perhaps the best known ‘working’ example in the UK was the automated quotations system which replaced floor trading on the Stock Exchange. Its full name was the ‘Stock Exchange Automated Quotations System’, or ‘SEAQ’. It was based upon the American ‘National Association of Securities Dealers Automated Quotations System’ or ‘NASDAQ’, which is a quotedriven electronic securities exchange run by the National Association of Securities Dealers. SEAQ replaced the old arrangements on 27 October 1986.