study on leading stock exchanges worldwide.pptx
TRANSCRIPT
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”