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7/23/2019 Study on Leading Stock Exchanges Worldwide
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STUDY ON LEADING
STOCK EXCHANGESWORLDWIDE
7/23/2019 Study on Leading Stock Exchanges Worldwide
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FEW INTERNATIONAL STOCK EXCHANGES
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TOP 3 STOCK EXCHANGES WORLDWIDE
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New York Stock Exchange
Duncan
NiederauerCEO NYSE
Established in 1792
Total market capitalization 16.6Trillion
Companies listed 2800+
Market functions between 9.30 am to4.00 pm
Index used NYSE Energy Index,Healthcare Index, Financial Index,etc
7/23/2019 Study on Leading Stock Exchanges Worldwide
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NASDAQNational Association of Securities Dealers Automated
Quotations
Robert Greifeld
NASDAQ, CEO
Established in 1971
Companies listed 3400+
Market functions between 9.30 amto 4.00 pm
Total market capitalization 8.5trillion
Index used NASDAQ Composite
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NASDAQ NYSE
Market type Dealers market Auction market
Process of Trade
Execution
Broker contacts market
maker or uses online form
Broker contacts
specialist floor trader or
enters it into Universal
Trading Platform (UTP)
Listing fee $50,000 to $75,000 up to $250,000
Perception Exchange for high-tech
stocks that are more growth
oriented and potentially
more volatile.
Exchange for well-
established companies,
more stable stocks.
Public or private Public
Held by publicly listed
InterContinental
Exchange (ICE), which
also owns Euronext.
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Tokyo Stock Exchange
Atsushi Saito
Established in 1878
Companies listed 2200+
Market functions between9.00 am and 3.00 pm
Total market capitalization4.5 Trillion
Index used Nikkei225
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Bombay Stock Exchange
Ashish Chauhan
Established in 1875
Companies listed 5000+
Market functions between 9.15 amand 3.30 pm
Total market capitalization $1.51Trillion
Index used Broad S&P BSE
sensex, BSE mid cap ,small cap, etc
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National Stock Exchange
Chitra Ramkrishna
Established in 1992
Companies listed 375+
Market functions between 9.15 am and3.30 pm
Total market capitalization 1.5 Trillion
Index used (Nifty, midBroad MarketIndices cap50,CNX100)Sectoralindices(CNX auto, cnx bank)
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NSE VS BSE
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BSE NSE
Main Index BSE Sensex S&P CNX Nifty
Claim to fame
Oldest stock
exchange in Asia.
Largest stock
exchange in India
in terms of daily
turnover and
number of trades.
Geographical
spread
Presence in 417
cities
Presence in 1,486
cities
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NSE MODEL VS INTERNATIONAL
MODEL
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Comparators International Model NSE Model
Legal Structure Company Company
Ownership Structure Owned by Shareholders
which includes brokers
Owned by
Shareholders which
are financial
institutions which
also have broking
firms as subsidiaries.
Listing Several stock exchanges are
listed on themselves afterInitial Public Offer.
Not a listed company.
No Initial PublicOffer made.
Ceilings on
shareholding
Mostly 5% of voting rights for
a single shareholder
No ceiling
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CONCLUSION
Increasing demand for global integration
Vital Differences in the Indian and Internationalmodel of Stock Exchanges
Reasons for delisting:Unwilling to disclose informationExpand and empower investor baseBroaden trading windowInability to meet listing requirementsrules listed by the Stock ExchangeReduce Costs
Ignorantia juris non excusat or ignorantia legisneminem excusat