study on leading stock exchanges worldwide.pptx

STUDY ON LEADING STOCK EXCHANGES

WORLDWIDE

Aishwarya Shetty

Roll no. 14B103

Amit Kumar Singh

Roll no. 14B104

FEW INTERNATIONAL STOCK EXCHANGES

North America

• New York Stock Exchange

• NASDAQ• Jamaica Stock

Exchange• Toronto Stock

Exchange

South America

• Guyana Stock Exchange

• MILA

Asia

• Hong Kong Stock Exchange

• Bombay Stock exchange

• NSE• Tokyo Stock

exchange• Singapore

exchange

Europe

• Euronext• OMX Exchange• Luxembourg

Stock Exchange 

• SIX Swiss Exchange

• London Stock Exchange

Oceania

• Asia Pacific Exchange

• Australian Securities Exchange

• National Stock Exchange of Australia

• South Pacific Stock Exchange

TOP 3 STOCK EXCHANGES WORLDWIDE

NYSE

NASDAQ

TSE

New York Stock Exchange

Duncan NiederauerCEO NYSE

Established in 1792

Total market capitalization 16.6 Trillion

Companies listed 2800+

Market functions between 9.30 am to 4.00 pm

Index used NYSE Energy Index, Healthcare Index, Financial Index, etc

NASDAQNational Association of Securities Dealers Automated

Quotations

Robert GreifeldNASDAQ, CEO

Established in 1971

Companies listed 3400+

Market functions between 9.30 am to 4.00 pm

Total market capitalization 8.5 trillion

Index used NASDAQ Composite

NASDAQ NYSE

Market type Dealer’s 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 privatePublic

Held by publicly listed InterContinental

Exchange (ICE), which also owns Euronext.

Tokyo Stock Exchange

Atsushi Saito

Established in 1878

Companies listed 2200+

Market functions between 9.00 am and 3.00 pm

Total market capitalization 4.5 Trillion

Index used Nikkei225

Bombay Stock Exchange

Ashish Chauhan

Established in 1875

Companies listed 5000+

Market functions between 9.15 am and 3.30 pm

Total market capitalization $1.51 Trillion

Index used Broad S&P BSE sensex, BSE mid cap ,small cap, etc

National Stock Exchange

Chitra Ramkrishna

Established in 1992

Companies listed 375+

Market functions between 9.15 am and 3.30 pm

Total market capitalization 1.5 Trillion

Index used (Nifty, midBroad Market Indices cap50,CNX100)Sectoral indices(CNX auto, cnx bank)

NSE VS BSE

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

NSE MODEL VS INTERNATIONAL MODEL

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 after Initial Public Offer.

Not a listed company. No Initial Public Offer made. 

Ceilings on shareholding 

Mostly 5% of voting rights for a single shareholder 

No ceiling

Segregation of ownership, trading rights and management

These are segregated. To become a member of the demutualised stock exchange, it is not necessary to own a share in the company. Thus, members may or may not be shareholders and members who own shares may sell off their trading rights and all shareholders are not necessarily members. 

These are segregated. The trading rights and ownership are segregated. The broking firms are not shareholders. 

CONCLUSION

Increasing demand for global integration Vital Differences in the Indian and

International model of Stock Exchanges Reasons for delisting:

Unwilling to disclose information Expand and empower investor base Broaden trading window Inability to meet listing requirements rules listed by the Stock Exchange Reduce Costs

“Ignorantia juris non excusat or ignorantia legis neminem excusat”