Which one of the following event–year pairs is not correctly matched?

Introduction / Context:
This question focuses on major developments in international finance and trade institutions. Accurate knowledge of when global systems like SWIFT, the Uruguay Round of GATT, the World Trade Organization and Nasdaq began is important for understanding the evolution of the world economy. Four event year pairs are given, and we must identify which one is not correctly matched, that is, where the year given does not correspond to the actual event.

Given Data / Assumptions:

Option A: Inauguration of SWIFT – 1985.
Option B: Conclusion of Uruguay Round of GATT – 1994.
Option C: Inauguration of World Trade Organization – 1995.
Option D: Establishment of Nasdaq – 1971.
We assume standard historical dates for these events.

Concept / Approach:
The Uruguay Round of GATT negotiations did conclude in 1994, and the World Trade Organization officially came into existence on 1 January 1995, so options B and C are correct. Nasdaq, widely regarded as the first wholly electronic stock exchange, was launched in 1971, so option D is also correctly matched. The Society for Worldwide Interbank Financial Telecommunication, or SWIFT, was founded in the early 1970s and its messaging services went live in 1977, not in 1985. Therefore, the event year pair given in option A is not correct.

Step-by-Step Solution:
Step 1: Consider option B. The Uruguay Round of GATT is known to have concluded in April 1994 with the signing of the Marrakesh Agreement. Thus, this pair is correctly matched. Step 2: Consider option C. The World Trade Organization succeeded GATT and came into formal existence on 1 January 1995. So this pair is also correctly matched. Step 3: Consider option D. Nasdaq began operations in 1971 as a pioneering electronic stock market in the United States. Therefore, this event year pair is correct. Step 4: Consider option A. SWIFT was created earlier in the 1970s, and its messaging system went live in 1977. The year 1985 given in the option does not match the actual inauguration period. Step 5: Therefore, option A is the incorrectly matched event year pair.

Verification / Alternative check:
A candidate can verify by remembering that SWIFT was established to replace the telex system in the 1970s, which predates 1985. On the other hand, the Uruguay Round and WTO dates are standard facts that appear in most international trade chapters. Nasdaq being founded in 1971 is one of the earliest examples of an electronic exchange, which is often mentioned in finance textbooks. Since three of the pairs fit these well known dates, the remaining one, SWIFT 1985, stands out as incorrect.

Why Other Options Are Wrong:
Option B is not the incorrect pair because 1994 is indeed the year in which the Uruguay Round concluded.
Option C is not the incorrect pair because the World Trade Organization did formally begin in 1995 as stated.
Option D is not the incorrect pair since 1971 is the correct founding year for Nasdaq as a fully electronic stock exchange.

Common Pitfalls:
Candidates may sometimes misremember the sequence of events around the formation of the WTO and assume that it started in 1994 when the Uruguay Round concluded, instead of 1995 when the organisation formally came into being. Others may guess that Nasdaq is more recent because electronic trading is associated with the computer age, leading them to doubt the 1971 date. Careful reading of economic history clarifies that electronic exchanges and SWIFT style messaging systems were introduced earlier than many people think. Always cross check whether an institution was founded or only expanded services in the year given.

Final Answer:
The event year pair that is not correctly matched is option A, because the SWIFT system was founded and became operational in the late 1970s, not in 1985 as stated.