study on leading stock exchanges worldwide

7/23/2019 Study on Leading Stock Exchanges Worldwide

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STUDY ON LEADING

STOCK EXCHANGESWORLDWIDE


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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


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NASDAQNational Association of Securities Dealers Automated

Quotations

Robert Greifeld

NASDAQ, CEO

Established in 1971


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


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


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


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

study on leading stock exchanges worldwide

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