The stock market is a subset of the Capital Market. Top four stock exchanges of the world are New York, Tokyo, and London Stock exchanges.
1. New York Stock Exchange (NYSE):
It was founded on 1792. It is the largest stock exchange in the world by dollar volume and over 2400 common and preferred stocks and over 5000 bonds are listed and traded on NYSE.
It is operated by NYSE Euronext, the holding company created by the combination of NYSE Group, Inc. and Euronext N.V. NYSE is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data.
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2. Tokyo Stock Exchange:
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It is the second largest stock exchange market in the world by market value. It has listed 2,271 domestic companies and 31 foreign companies, with a total market capitalisation of over 5 trillion USD.
3. London Stock Exchange:
The world’s oldest stock exchange and one of the top three stock exchanges in the world. It has listed around 3000 companies. Total equity turnover value of more than 3.5 billion USD.
4. Bombay Stock Exchange:
The oldest stock exchange in Asia, popularly known as the BSE was established as “The Native Share & Stock Brokers’ Association” in 1875.Today, BSE is the world’s number 1 exchange in terms of the number of listed companies (over 4900).
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It is the world’s 5th most active in terms of number of transactions handled through its electronic trading system. And it is in the top ten of global exchanges in terms of the market capitalisation of its listed companies (as of December 31, 2009).
BSE is the first exchange in India and the second in the world to obtain an ISO 9001:2000 certification. It is also the first Exchange in the country and second in the world to receive Information Security Management System Standard BS 7799-2-2002 certification for its BSE On-Line trading System (BOLT).
Presently, it is ISO 27001:2005 certified, which is a ISO version of BS 7799 for Information Security. The BSE Index, SENSEX, is India’s first and most popular Stock Market benchmark index. Exchange traded funds (ETF) on SENSEX, are listed on BSE and in Hong Kong. Futures and options on the index are also traded at BSE.
Table 11.7: Stock Exchanges’ Market Capitalisation as on 16.12.2010:
| Stock Exchanges | $ Million |
| DOW JONES- US | 3600.77 |
| FTSE100 – UK | 2582.58 |
| SSEA -China | 2744.79 |
| NIKKIE (Japan) | 2439.34 |
| CAC40 – France | 1370.11 |
| Australia (All Ordinary) | 1327.95 |
| Bovespa (Brazil) | 1023.16 |
| DAX – Germany | 1003.63 |
| Mcx(Russia) | 968.07 |
| SENSEX (INDIA) | 662.19 |