In terms of market capitalization, stock exchanges from the US continued to dominate the list followed by stock exchanges from Japan and China. NYSE and NASDAQ collectively accounted for 39.1% of the global market capitalization of stock exchanges. The dominance of the American exchanges can be attributed to the long existence of these exchange houses, large number of companies listed in them, increasing number of foreign companies getting listed in them, and strong global interest in securities in these exchanges. The top 15 exchanges collectively account for ~87.5% of the global market capitalization. Indian exchanges BSE India Limited and National Stock Exchange of India Limited ranked 11 and 12 respectively.
India’s BSE India Limited houses the highest number of companies globally
Top 10 exchanges with the highest number of listed companies in 2015 Rank Exchanges Country
1 BSE India Limited
5,836 3,651 3,559 3,513 2,859 2,424 2,108 1,961 1,866 1,794
2 BME Spanish Exchanges
3 TMX Group
4 Japan Exchange Group
5 Nasdaq - US
6 Intercontinental Exchange Inc. | NYSE 7 Australian Securities Exchange
8 Korea Exchange
Korea HKG India
9 Hong Kong Exchanges and Clearing 10 National Stock Exchange of India Limited
Source: World Federation of Exchanges
In terms of the volume of listed companies, the top 10 exchanges house 29,571 companies commanding ~64.7% of the global volume in 2015. The highest number of listed companies were registered with BSE India Limited (5836), followed by BME Spanish Exchanges (3,651), and TMX Group (3,559). The other Indian exchange house National Stock Exchange of India Limited ranked 10th having 1,794 companies registered. American exchanges NYSE and NASDAQ have 2,424 and 2,859 companies respectively. In comparison the BSE India Limited houses almost double the number the number of companies listed in these American exchanges individually. However, the market capitalization of BSE is 8.5% of NYSE and 20.8% of NASDAQ. The stark difference in market capitalization to number of companies of these exchanges brings to light the higher value of securities traded in the American stock exchanges.
The Americas region continues to dominate the global market capitalization
Equity market capitalization by Region H2 2015
27,943 24,574 15,510 68,028
29,143 23,250 14,829 67,223
4.3% -5.4% -4.4% -1.2%
Source: World Federation of Exchanges Note: Market Capitalization figures provided above are denoted in USD billion H1: January-June, H2: July-December
The Americas region continued to dominate the global market capitalization scenario. The dominance can be attributed to the presence of three of the world’s largest stock exchanges in the region, NYSE, NASDAQ, and TMX Group. Collectively these exchanges house 8,842 companies and have a combined market capitalization of USD 26.7 trillion in 2015. The de growth registered in the Asia Pacific region and globally can be attributed to the slowdown in trading activity in the Asia Pacific region. In early 2016, the Chinese stock markets faced major hiccups as their circuit breakers kicked in the early hours halting trading for long periods. In addition, the devaluation of yuan and increase in government control has continued to hurt the market performance.
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