major stock exchanges of the world

7/28/2019 Major Stock Exchanges of the World

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Major Stock

Exchanges of theWorld

By

Rohil Sanil

Apeksha DedhiaTYBFM- M.L DAHANUKAR

COLLEGE

Submitted to : Prof. Oberoi


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IntroductionA stock exchange is an institution, organization, or association which

hosts a market where stocks, bonds, options and futures,and commodities are traded. Buyers and sellers come togetherto trade during specific hours on business days. Exchanges impose rulesand regulations on the firms and brokers that are involved with them. Ifa particular company is traded on an exchange, it is referred to as"listed". Companies that are not listed on a stock exchange are sold OTC(short for Over-The-Counter).Companies that have shares traded OTCare usually smaller and riskier because they do not meet therequirements to be listed on a stock exchange.


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LONDON STOCK EXCHANGELondon Stock Exchange is the primary stock exchange in the U.K.

and the largest in Europe. Originated in 1773, the regional exchanges

were merged in 1973 to form the Stock Exchange of Great Britain andIreland, later renamed the London Stock Exchange (LSE). The FinancialTimes Stock Exchange (FTSE) 100 Share Index, or "Footsie", is thedominant index, containing100 of the top blue chips on the LSE.

In 1761, 150 of these stockbrokers started a club for buying andselling shares in a dealing room on Sweeting's Alley, which eventuallybecame known as The Stock Exchange. It became an official, regulatedexchange in 1801 and a year later moved into a building in ChapelCourt. Its current premises are situated in Paternoster Square near StPaul's Cathedral London.

The LSE is the most international of all stock exchanges with 350companies from more than 50countries, and it is the premier source ofequity-market liquidity, benchmark prices and market data in Europe.Linked by partnerships to international exchanges in Asia and Africa,the LSE aims to remove cost and regulatory barriers of capital marketsworldwide.

Issuer services help companies from around the world to join the

London equity market in order to gain access to capital. The LSE allowscompany to raise money, increase their profile and obtain a marketvaluation through a variety of routes, thus following the firmsthroughout the whole IPO process.

The London Stock Exchange runs several markets for listing, givingan opportunity for different sized companies to list. Internationalcompanies can list a number of products in London including shares,depositary receipts and debt, offering different and cost-effective ways

to raise capital. In 2004 the Exchange opened a Hong Kong Office andhas attracted more than 200companies from the Asia-Pacific region. TheLondon Stock Exchange (The Exchange) has four core areas: 1.Equi ty Markets 2.Market Data I nformation

3.Trading 4.Derivatives


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N Y S E

Founded on March 8, 1817, NYSE is based in New York City,which is considered the largest equities-based exchange in the worldbased on total market capitalization of its listed securities. Formerly runas a private organization, the NYSE became a public entity in 2005following the acquisition of electronic trading exchange Archipelago.Also known as the "Big Board", the NYSE relied for many years onfloor trading only, using the open outcry system. Today, more than halfof all NYSE trades are conducted electronically, although floor tradersare still used to set pricing and deal in high volume institutional trading

Trading approximately 1.46 billion shares each day, the New YorkStock Exchange (NYSE) is the leading stock exchange in the world. Theexchange trades stocks for some 2,800 companies, ranging from bluechips to new high growth companies. Each listed company has to meetstrict requirements, as the NYSE works to maintain its reputation oftrading strong, high quality securities.

The origins of the exchange date all the way back to 1792. Becauseof its long operating history the NYSE is home to the majority of the

worlds largest and best-known companies. Foreign-based corporationscan list their shares on the NYSE if they adhere to certain Securities andExchange Commission (SEC) rules, known as listing standards.

N Y S E G r o u p a n d E u r o n e x t m e r g e r In April 2006, NYSE Group and Euronext signed a merger agreement,subject to shareholder vote and regulatory approval. Euronextshareholders gave approval to the transaction on December 19, 2006,and shareholders from the NYSE Group followed suit one day later. TheNYSE Group consummated its takeover of Euronext at ceremonies inthe U.S. and Europe on April 4, 2007. This merger signaled the creationof the world's largest and most liquid exchange group: NYSE Euronext


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N A S D A QThe NASDAQ (National Association of Securities Dealers

Automated Quotation System) is an American stock exchange. It is the

largest electronic screen-based equity securities trading market in theUnited States. With approximately 3,200 companies, it lists morecompanies and has more trades per day than any other U.S. market.

It was founded in 1971 by the National Association of SecuritiesDealers (NASD), who divested themselves of it in a series of sales in2000 and 2001. It is owned and operated by the NASDAQOMX Group,the stock of which was listed on its own stock exchange in 2002, and ismonitored by the Securities and Exchange Commission (SEC).

A computerized system that facilitates trading and provides pricequotations on more than 5,000of the more actively traded over thecounter stocks. NASDAQ was the world's first electronic stock market.

Stocks on the NASDAQ are traditionally listed under four or fiveletter ticker symbols. If the company is a transfer from the New YorkStock Exchange, the symbol may be comprised of three letters. The

NASDAQ is traditionally home to many high-tech stocks, such asMicrosoft, Intel, Dell and Cisco.

The NASDAQ trades shares in a variety of companies, but is wellknown for being a high-tech exchange, trading many new, high growth,and volatile stocks. This is partially due to the fact that the listing fees onthe NASDAQ are significantly lower than those for the NYSE, with themaximum price only $150,000.The NASDAQ, as an electronic

exchange, has no physical trading floor, but makes all its trades througha computer and telecommunications system. The exchange is a dealers'market, meaning brokers buy and sell stocks through a market makerrather than from each other.


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TOKYO STOCK EXCHANGEThe largest stock exchange in Japan headquartered in its capital city

of Tokyo. The Tokyo Stock Exchange (TSE) was established on May15, 1878. The exchange has more than 2,292 listed companies, with acombined market capitalization at end-2010 of $3.8 trillion, making itthe third-largest in the world by this measure. The exchange is home tothe largest and best-known Japanese giants with a global presence,including Toyota, Honda and Mitsubishi.

The Tokyo Stock Exchange uses an electronic, continuous auctionsystem of trading. This means that brokers place orders online and whena buy and sell price match, the trade is automatically executed. Deals aremade directly between buyer and seller, rather than through a marketmaker. The TSE uses price controls so that the price of a stock cannotrise or fall below a certain point throughout the day. These controls areused to prevent dramatic swings in prices that may lead to marketuncertainty or stock crashes. If a major swing in price occurs, theexchange can stop trading on that stock for a specified period of time.

Stocks listed on the TSE are assigned to one of three markets: theFirst Section, Second Section, or Mothers (market of the high-growthand emerging stocks). The highest listing criteria must be met for theFirst Section and all newly listed stocks begin on the Second Section,with less strict requirements. Stocks for high growth, emergingcompanies are listed on the Mothers market. The exchange undergoes areview at the end of each year, where the decision of whether any stockswill be moved either up or down is made. The First Section currently has

the most companies, with 1,595 listings.The Tokyo Stock Exchange also has a significant market forderivatives, which has been operating for twenty years. The TSE listsfutures and options in indexes, equities, and Japanese government bonds


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FRANKFURT STOCK EXCHANGE(DEUTSCHE BRSE)

With more than 77,000 securities listed and 260,000 trades processeddaily, Frankfurt Stock Exchange takes the position of the world's thirdlargest stock market and the worlds sixth largest by marketcapitalization.

Although FSE exercises some traditional broker-supported floortrading, most of the trading is done via the fully electronic trading

system Xetra that enables 15 countries trading on a single platform.With the location-independent system, even 47% of the FSE's marketparticipants come from abroad.

Currently about 6823 companies are quoted on the FSE. Based onstock market newcomers' needs and requirements, they can enter themarket in 3 alternative ways: Prime, General, or Entry Standard.Companies going public by Prime and General Standards are regulatedby the EU rules. Whereas companies choosing the Entry Standard,which is one of the easiest ways to enter the capital market, aresupervised by the stock exchange itself.

With current 79 index funds, FSE has the largest range of exchangetraded funds in Europe. An investor has a choice of 55 passivelymanaged index funds and 24 actively managed funds to trade in. Unlikeclassical funds, the prices of the FSE's exchange traded funds aredetermined every minute in continuous trading and orders are exercised

immediately


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HONG KONG STOCKEXCHANGE

One of the world's largest securities markets by market capitalization,the Hong Kong Stock Exchange traces its origins to the founding ofChina's first formal securities market, the Association of Stockbrokers inHong Kong, in 1891. A second market opened in 1921, and in1947 thetwo merged to form the Hong Kong Stock Exchange.

It is one of the larger markets in Asia with around 1,200 listed

companies as of 2008. The Exchange introduced automated ordering in1993 and stock option trading in 1995. The Hong Kong Stock Exchangemerged with the Hong Kong Futures Exchange and the Hong KongSecurities Clearing Company in 2000 to form Hong Kong Exchangesand Clearing Ltd., a publicly traded company.

Today with its total securities market capitalization of a record sum ofHK$ 8,260.3 billion (US$1,063.9 trillion), the HKSE ranks 8th place bymarket capitalization in the world.

The trading system of the Exchange is an order-driven system. HKExsecurities market operate son two trading platforms - the Main Boardand the Growth Enterprise Market (GEM). Each trading platform has adifferent set of requirements. The Main Board is the market for capitalgrowth by established companies that meet profit requirements.Meanwhile, the Growth Enterprise Market provides a fund raising venuefor 'high growth, high risk' companies. It promotes the development of

technology industries and venture capital investments.

In October 2000, HKEx (holding company) developed a tradingsystem AMS/3 consisting of four components - Trading Terminal,


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Multi-Workstation System ('MWS'), Broker Supplied System ('BSS'),and Order Routing System ('ORS') that investors can choose among. TheORS allows investors to place requests electronically. In addition totrading through terminals in the Trading Hall, exchange participants are

enabled to trade from their offices through installed off-floor terminals.

The HKSE has the leading index the Hang Sengfor shares traded onthe Hong Kong Stock Exchange that was introduced in 1969. The HangSeng index consisting of the 33 largest companies traded on theexchange represent around 70% of the value of all stocks traded on theHKSE.


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M A D R I D S T O C K E X C H A N G E( B o l s a d e M a d r i d )

The largest securities market in Spain, also known as the Bolsa deMadrid. In 1809, Jose I Bonaparte attempted to establish Spain's firststock exchange in Madrid but it failed because Madrid was not a majorbusiness center at the time. 1831 saw the enactment of the law creatingthe Madrid Stock Exchange with securities of banks, railways and ironand steel companies being the first traded.

Bolsa de Madrid is the largest and most international of Spain's four

regional stock exchanges (the others are located in Barcelona, Valencia,and Bilbao) that trade shares and convertible bonds and fixed incomesecurities, and both government and private-sector debt. Bolsa deMadrid is owned by Bolsas y Mercados Espaoles. Trading is linkedthrough the electronic Spanish Stock Market Interconnection System(SIBE), which handles more than 90% of transactions; all fixed-incomeassets are traded through SIBE

The Madrid Stock Exchange General I ndex(IGBM) is theexchange's principle index and represents the construction, financialservices, communications, consumer, capital/intermediate goods,energy, and market services sectors. The I BEX 35 Indexis acapitalization-weighted index comprising the 35 most liquid Spanishstocks traded in the continuous market, and is Bolsade Madrid'sbenchmark. Bolsa de Madrid also offers the FTSE-Latibex I ndex, aEuropean market for Latin American stocks. The Ibex New MarketIndex, for emerging companies, was offered from 2000 to 2007.

Settlement is T + 3. Trading on SIBE is conducted from 9 a.m. to 5:30p.m.; open outcry from 10a.m. to 11:30 a.m., both Monday throughFriday


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BOMBAY STOCK EXCHANGE

The first and largest securities market in India, the Bombay StockExchange (BSE) was established in 1875 as the Native Share and StockBrokers' Association. The BSE has helped develop the country's capitalmarkets, including the retail debt market, and helped grow the Indiancorporate sector. The equity market capitalization of the companieslisted on the BSE wasUS$1 trillion as of December 2011, making it the6th largest stock exchange in Asia and the 14th largest in the world.

Bombay Stock Exchange uses the BSE Sensex, an index of 30 large,

developed BSE stocks. This index gives a measure of the overallperformance of the Bombay Stock Exchange, and is closely followedaround the world. Based on the Sensex, the BSE equity market hasgrown significantly since 1990.

In addition to individual stocks, the BSE also has a market inderivatives, which was the first to be established in India. Listedderivatives on the exchange include stock futures and options, index

futures and options, and weekly options.

The Bombay Stock Exchange is also actively involved with thedevelopment of the retail debt market. The debt market in India isconsidered extremely important, as the country continues to develop anddepends on this type of investment for growth. Until recently, the debtmarket in India was limited to a wholesale market, with banks andfinancial institutions as the only participants. The Bombay StockExchange believes that a retail market will bring great opportunities toindividual investors through better diversification.As of March 2012 there are over 5133 listed Indian Companies and over8196 scripts on the stock exchange


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NATIONAL STOCK EXCHANGE NSE is mutually-owned by a set of leading financial institutions,banks, insurance companies and other financial intermediaries in India

but its ownership and management operate as separate entities. In 2011,NSE was the third largest stock exchange in the world in terms of thenumber of contracts (1221 million) traded in equity derivatives. It is thesecond fastest growing stock exchange in the world with a recordedgrowth of 16.6%.

As of Dec 2011, there are over 1646 listed Indian companies withmarket capitalization of around US$985 billion. The NSE's key index isthe S&P CNX Nifty, known as the NSE NIFTY (National StockExchange Fifty), an index of fifty major stocks weighted by marketcapitalization.

The National Stock Exchange of India Ltd. provides its clients with asingle, fully electronic trading platform that is operated through a VSATnetwork. Unlike most world exchanges, the NSE uses the satellite

communication system that connects traders from 345 Indian cities. Theadvanced technologies enable up to 6 million trades to be operated dailyon the NSE trading platform.

In August 2008 currency derivatives were introduced in India withthe launch of Currency Futures in USD INR by NSE. Currently it hasalso launched currency futures Euros, pounds and yen. Interest RateFutures were introduced for the first time in India by NSE on 31

August2009, exactly one year after the launch of Currency Futures.

NSE became the first stock exchange to get approval for interest ratefutures, As recommended by SEBI-RBI committee, on 31 August 2009,a futures contract based on 7% 10 Year Government of India (Notional)was launched with quarterly maturities.


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Dif ference Between NSE &BSE


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SHANGHAI STOCK EXCHANGE

The Shanghai Stock Exchange can stake a claim to fame to beingboth the first and largest stock exchange on mainland China.

Even though the Shanghai Stock Exchange is the first exchange inmainland China, it is only fifteen years old having been re-established in1990. There was the 'old' Shanghai Stock Market that was established in1904; however this was closed as a result of the communist takeover in1949.The exchange has a total of eight hundred and seventy-eight listedcompanies. The main indices used on the exchange are:

SSE 50 index SSE 180 Index SSE Composite Index SHSE- SZSE 300 Index.The Shanghai Stock Exchange works as a non-profit institution

administered by the China Securities Regulatory Commission. Theexchange lists two different kinds of stocks: A and B shares. Thedifference between the two stocks is the currency that they are traded in.The A shares is traded in the local Renminbi yuan currency, whereas the

B shares are traded in U.S.Dollars. Traditionally A shares were onlytraded within the country, but now both A and B shares may be tradedworldwide. The majority of the stocks listed on the exchange are A

shares. There are eight hundred twenty-four A shares and fifty-four Bshares listed on the market.

It is one of the two stock exchanges operating independently in thePeople's Republic of China; the other is the Shenzhen Stock Exchange.Shanghai Stock Exchange is the world's 5th largest stock market by

market capitalization at US$2.3 trillion as of Dec 2011. Unlike the HongKong Stock Exchange, the Shanghai Stock Exchange is still not entirelyopen to foreign investors due to tight capital account controls exercisedby the Chinese mainland authorities.


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Australian Stock Exchange (ASX)

Australian Stock Exchange (ASX) is the leading stock exchangein Australia and is today one of the worlds top-10 listed exchangegroups measured by market capitalization. The Australian StockExchange was formed on 1 April 1987 after the amalgamation of sixindependent state-based stock exchanges. In July 2006, Australian StockExchange merged with the Sydney Futures Exchange (SFX) to form theAustralian Securities Exchange (ASX). From 1 August 2010 theAustralian Securities Exchange has been known as the ASX Group.

ASX offers products and services including shares, futures,exchange traded options, warrants, contracts for difference, exchangetraded funds, real estate investment trusts, listed investment companiesand interest rate securities. Approximately 1.5 million companies areregistered in Australia, of those over 2,200 are listed and traded on ASXwith a combined market capitalization of $1.454 trillion (12/2010).

ASX operates two trading platforms ASX Trade and ASXTrade24. ASX Trade executes over 10 million equity trades per month

with an average daily value of $5 billion. ASX Trade24 offers adiversified range of futures, options and CFDs over a wide range ofdifferent asset classes including equities, interest rates, futures,commodities, energy and the environment. Nominal average daily valuetraded is in excess of $150 billion. The ASX maintains stock indexesconcerning stocks traded on the exchange in conjunction with Standard& Poor's. There is a hierarchy of index groups called the S&P/ASX 20,S&P/ASX 50, S&P/ASX 100, S&P/ASX 200 and S&P/ASX 300,notionally containing the 20, 50, 100, 200 and 300 largest companieslisted on the exchange, subject to some qualifications.


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Toronto Stock Exchange

Toronto Stock Exchange (TSX, formerly TSE) is the largest stock

exchange in Canada and the third largest in North America by marketcapitalisation. A broad range of businesses from Canada, the UnitedStates, Europe, and other countries are represented on the exchange. Inaddition to conventional securities, the exchange lists various exchange-traded funds, split share corporations, income trusts and investmentfunds. The Toronto Stock Exchange is the leader in the mining and oil &gas sector; more mining and oil & gas companies are listed on TorontoStock Exchange than any other exchange in the world. The Toronto

Stock Exchange (TSX) was established in 1852 and formallyincorporated in 1878. As of December 2010, Toronto Stock Exchangehad 1,498 listed companies with a combined market capitalization of$2.17 trillion.

TMX Group owns and operates Toronto Stock Exchange, TSX VentureExchange and Montral Exchange (MX). Serving the public venturecapital market, TSX Venture Exchange provides access to growthcapital for early stage companies while offering investors a well-

regulated market for making venture investments. Montral Exchange(MX) provides interest rate, index and equity derivatives trading andclearing; it in turn owns a majority interest in Boston Options Exchange(BOX). MX owns 53.8% of BOX. The Montral Exchange founded in1832, is the oldest exchange in Canada and is a fully electronic exchangededicated to the development of the Canadian derivative markets.

Natural Gas Exchange (NGX), a TMX Group subsidiary, is a leadingNorth American exchange for the trading and clearing of natural gas and

electricity contracts. TMX Group owns 47% of CanDeal.ca Inc., aninstitutional fixed income trading system, as well as 100% of ShorcanBrokers Limited, Canada's first fixed income inter-dealer broker. TMXGroup is also the leading provider of fixed income indices in Canada.


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MOSCOW EXCHANGE MICEX-RTS

Moscow Exchange MICEX-RTS is the largest stock exchange inRussia, located in Moscow, trading equities, bonds, derivatives andcurrencies. It was officially established on 19 December2011 throughthe merger of the two largest Moscow-based stock exchanges, theMoscow Interbank Currency Exchange and the Russian Trading System.Both organizations were formed in the 1990s and for two decades werethe leading exchanges in Russia, with the MICEX Index and the RTS

Index being among the world's top stock indices. The merger created asingle entity that is expected to become a leading stock exchangeglobally for trading across asset classes and to advance Russia's plans toturn Moscow into an international financial center.

The goals of the merger include the optimization of the Russianstock market, the reduction of the number of organizations withoverlapping functions, the creation of a single platform for issuers,traders and investors, the reduction of transaction costs, and easiertrading.

Ahead of the merger, the capitalization of the MICEX-RTS companywas estimated the equivalent of $4.5 billion. The exchange is targetingan IPO in 2013, in preparation of which the exchange took on the legalform of open joint-stock company on 19 December 2011. In 2012 thecompany plans to launch the trading in T+N and to create a singletrading account for the spot and derivatives markets. Russia's main

depositories, the National Settlement Depository and the DepositoryClearing Company, are also expected to merge in 2012, and the MICEXand RTS Indices are expected to be unified in the same year.


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The full merger of the organizational structure is not yet completed.Problems in merging the infrastructure resulted in computer error intrades, something that had not happened on the merged exchanges for adecade: on the first day of trades, there was a short period of computer

glitches when the clearing system malfunctioned, which resulted inregistering multiple unsanctioned deals, with some traders sufferinglosses. The united exchange went through are branding; with the newbrand identity was unveiled in early July 2012.


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B M & F B O V E S P A ( S a oP a u l o S t o c k E x c h a n g e )

The BM&FBOVESPA is a stock exchange located at So Paulo,Brazil. As of December 31,2011 it had a market capitalization of US$1.22 Trillion, making it in the 8th largest stock exchange in the world.On May 8, 2008, the So Paulo Stock Exchange (Bovespa) and theBrazilian Mercantile and Futures Exchange (BM&F) merged, creatingBM&F BOVESPA. The benchmark indicator of BM&F BOVESPA isthe ndice Bovespa. There were 381 companies traded at Bovespa as of

April 30, 2008.

On May 20, 2008 the Ibovespa index reached its 10th consecutiverecord mark closing at 73,516points, with a traded volume of USD 4.2billion or R$ 7.4 billion, and in August 17, 2011 the Ibovespa made itsbiggest traded volume in its history, with a volume of USD 14.8 billionor R$23.7 billion. BM&FBOVESPA has offices in New York, Shanghaiand London.

It is the most important Brazilian institution to intermediate equitymarket transactions and the only securities, commodities and futuresexchange in Brazil. BM&FBOVESPA further acts as a driver for theBrazilian capital markets.


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BIBLIOGRAPHY

http://en.wikipedia.org/wiki/New_York_Stock_Exchangehttp://www.nyse.comhttp://en.wikipedia.org/wiki/London_Stock_Exchangehttp://www.londonstockexchange.comhttp://en.wikipedia.org/wiki/Tokyo_Stock_Exchangehttp://www.tse.or.jp/englishhttp://en.wikipedia.org/wiki/Hong_Kong_Stock_Exchangehttp://www.hkex.com.hk/

http://en.wikipedia.org/wiki/NASDAQhttp://www.nasdaq.comhttp://en.wikipedia.org/wiki/Euronexthttp://www.euronext.comhttp://www.frankfurtstockexchange.dehttp://en.wikipedia.org/wiki/Frankfurt_Stock_Exchangewww.nseindia.comwww.bse.com

http://www.bmfbovespa.com.br/en-us/intros/intro-about-us.aspx?idioma=en-ushttp://en.wikipedia.org/wiki/BM%26F_Bovespahttp://www.rts.ru/s602http://en.wikipedia.org/wiki/Russian_Trading_Systemhttp://www.sse.com.cn/sseportal/en_us/ps/about/bi.shtmlhttp://en.wikipedia.org/wiki/Shanghai_Stock_Exchange
http://en.wikipedia.org/wiki/New_York_Stock_Exchangehttp://www.nyse.com/http://en.wikipedia.org/wiki/London_Stock_Exchangehttp://www.londonstockexchange.com/http://en.wikipedia.org/wiki/Tokyo_Stock_Exchangehttp://www.tse.or.jp/englishhttp://en.wikipedia.org/wiki/Hong_Kong_Stock_Exchangehttp://www.hkex.com.hk/http://en.wikipedia.org/wiki/NASDAQhttp://www.nasdaq.com/http://en.wikipedia.org/wiki/Euronexthttp://www.euronext.com/http://www.frankfurtstockexchange.de/http://en.wikipedia.org/wiki/Frankfurt_Stock_Exchangehttp://www.nseindia.com/http://www.bse.com/http://www.bmfbovespa.com.br/en-us/intros/intro-about-us.aspx?idioma=en-ushttp://www.bmfbovespa.com.br/en-us/intros/intro-about-us.aspx?idioma=en-ushttp://en.wikipedia.org/wiki/BM%26F_Bovespahttp://www.rts.ru/s602http://en.wikipedia.org/wiki/Russian_Trading_Systemhttp://www.sse.com.cn/sseportal/en_us/ps/about/bi.shtmlhttp://en.wikipedia.org/wiki/Shanghai_Stock_Exchangehttp://en.wikipedia.org/wiki/Shanghai_Stock_Exchangehttp://en.wikipedia.org/wiki/Shanghai_Stock_Exchangehttp://www.sse.com.cn/sseportal/en_us/ps/about/bi.shtmlhttp://en.wikipedia.org/wiki/Russian_Trading_Systemhttp://www.rts.ru/s602http://www.rts.ru/s602http://en.wikipedia.org/wiki/BM%26F_Bovespahttp://en.wikipedia.org/wiki/BM%26F_Bovespahttp://www.bmfbovespa.com.br/en-us/intros/intro-about-us.aspx?idioma=en-ushttp://www.bmfbovespa.com.br/en-us/intros/intro-about-us.aspx?idioma=en-ushttp://www.bmfbovespa.com.br/en-us/intros/intro-about-us.aspx?idioma=en-ushttp://www.bse.com/http://www.nseindia.com/http://en.wikipedia.org/wiki/Frankfurt_Stock_Exchangehttp://www.frankfurtstockexchange.de/http://www.euronext.com/http://en.wikipedia.org/wiki/Euronexthttp://www.nasdaq.com/http://en.wikipedia.org/wiki/NASDAQhttp://www.hkex.com.hk/http://en.wikipedia.org/wiki/Hong_Kong_Stock_Exchangehttp://www.tse.or.jp/englishhttp://en.wikipedia.org/wiki/Tokyo_Stock_Exchangehttp://www.londonstockexchange.com/http://en.wikipedia.org/wiki/London_Stock_Exchangehttp://www.nyse.com/http://en.wikipedia.org/wiki/New_York_Stock_Exchange


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Conclusion

This document is giving a summarizing gist of major stock exchanges ofthe world with theirdetails and over view. Following Stock Exchangeswere covered in the same:

1. LONDON STOCK EXCHAN GE2. N Y S E3. NA SD AQ 4. TOKYO STOCK EXCHANG E 5. FRANKFURT STOCK EXCHANGE (DEUTSCHE BRSE)

6. H O NG - K O NG S T O CK E XCH ANG E .7. M A D R I D S T O C K E X C H A N G E8. BOMBAY STOCK EXCHANGE 9.N A T I O N A L S T O C K E X C H A N G E 10. SHANGHAI STOCK EXCHANGE.11. AUSTRALIAN STOCK EXCHANGE12. TORONTO STOCK EXCHANGE13. MOSCOW EXCHANGE

14. SAO PAULO STOCK EXCHANGE

I park my gratitude to Prof . Oberoi f or assigning us such essenti al

topic as an assignment to work on

major stock exchanges of the world

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