The Nasdaq Stock Market Inc. today announced that it has renamed the Nasdaq SmallCap Market, it will now be known as the Nasdaq Capital Market.

Nasdaq consists of two distinct market tiers: the National Market and the Capital Market. Stocks listed on the Capital Market must satisfy certain qualification requirements, must meet certain financial requirements and adhere to Nasdaq’s corporate governance standards.

“Changing the name to the Nasdaq Capital Market helps market participants by clarifying that issuers of a wide range of capitalization sizes may list on this market,” says Nasdaq executive vice president Bruce Aust. “The new name better reflects the true purpose of this market tier. The Nasdaq Capital Market provides companies with needed capital to grow their businesses and a listing venue which can accommodate the different stages in their corporate life.”

Nasdaq reports that it filed the name change with the Securities and Exchange Commission on September 13, and it is effective today.