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Features of Stock Exchange

Characteristics or features of stock exchange are:1. Market for securities : Stock exchange is a market, where securities of corporate bodies, government and semi-government bodies are bought and sold. 2. Deals in second hand securities : It deals with shares, debentures bonds and such securities already issued by the companies. In short it deals with existing or second hand securities and hence it is called secondary market. 3. Regulates trade in securities : Stock exchange does not buy or sell any securities on its own account. It merely provides the necessary infrastructure and facilities for trade in securities to its members and brokers who trade in securities. It regulates the trade activities so as to ensure free and fair trade 4. Allows dealings only in listed securities : In fact, stock exchanges maintain an official list of securities that could be purchased and sold on its floor. Securities which do not figure in the official list of stock exchange are called unlisted securities. Such unlisted securities cannot be traded in the stock exchange. 5. Transactions effected only through members : All the transactions in securities at the stock exchange are effected only through its authorised brokers and members. Outsiders or direct investors are not allowed to enter in the trading circles of the stock exchange. Investors have to buy or sell the securities at the stock exchange through the authorised brokers only. 6. Association of persons : A stock exchange is an association of persons or body of individuals which may be registered or unregistered. 7. Recognition from Central Government : Stock exchange is an organised market. It requires recognition from the Central Government. 8. Working as per rules : Buying and selling transactions in securities at the stock exchange are governed by the rules and regulations of stock exchange as well as SEBI Guidelines. No deviation from the rules and guidelines is allowed in any case. 9. Specific location : Stock exchange is a particular market place where authorised brokers come together daily (i.e. on working days) on the floor of market called trading circles and conduct trading activities. The prices of different securities traded are shown on electronic boards. After the working hours market is closed. All the working of stock exchanges is conducted and controlled through computers and electronic system. 10. Financial Barometers : Stock exchanges are the financial barometers and development indicators of national economy of the country. Industrial growth and stability is reflected in the index of stock exchange.

Major stock exchanges

New York Stock Exchange, New York City

London Stock Exchange, the City of London

Tokyo Stock Exchange, Tokyo

Hong Kong Stock Exchange, Hong Kong

Bolsa de Madrid, Madrid

Bombay Stock Exchange, Mumbai

Toronto Stock Exchange, Toronto

Sao Paulo Stock Exchange, Sao Paulo

Australian Securities Exchange's Sydney exchange centre, Sydney

Frankfurt Stock Exchange, Frankfurt

Paris Stock Exchange, Paris

SWX Swiss Exchange, Zurich

Mexican Stock Exchange, Mexico City

Philippine Stock Exchange, Makati City, Philippines Major Stock Exchanges : Year ended 31 December 2011 [1] Market Capitalization (USD Billions) Trade Value (USD Billions) 14,242 20,161

Rank 1

Economy United

Stock Exchange


NYSE Euronext (US & New York


Economy States Europe United States Europe Japan United Kingdom China

Stock Exchange Europe)

Location City

Market Capitalization (USD Billions)

Trade Value (USD Billions)

2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18

NASDAQ OMX (US & New York North Europe) City Tokyo Stock Exchange Tokyo

4,687 3,325 3,266 2,357 2,258 1,912 1,229 1,198 1,185 1,090 1,055 1,031 1,007 996 985 800 789

13,552 3,972 2,837 3,658 1,447 1,542 931 1,197 1,758 887 2,838 1,226 148 2,029 589 514 372

London Stock Exchange London Shanghai Hong Kong Toronto So Paulo Sydney Frankfurt Zurich Shenzen Madrid Mumbai Seoul Mumbai Moscow Johannesburg

Shanghai Stock Exchange Hong Kong Stock Hong Kong Exchange Canada Toronto Stock Exchange BM&F Bovespa Brazil Australian Securities Australia Exchange Germany Deutsche Brse Switzerland SIX Swiss Exchange Shenzhen Stock China Exchange BME Spanish Spain Exchanges Bombay Stock India Exchange South Korea Korea Exchange National Stock India Exchange of India MICEX-RTS Russia South JSE Limited Africa

The 65 main stock exchanges:

American Stock Exchange Australian Securities Exchange Athens Stock Exchange Belgrade Stock Exchange Berliner Brse

Bermuda Stock Exchange Bolsa Mexicana de Valores Bolsa de Valores de Colombia Bolsa de Valores de Lima Bombay Stock Exchange Bucharest Stock Exchange Budapest Stock Exchange Bulgarian Stock Exchange - Sofia Canadian National Stock Exchange - CNSX Cairo & Alexandria Stock Exchange Casablanca Stock Exchange Channel Islands Stock Exchange Chicago Stock Exchange Euronext Amsterdam Euronext Brussels Euronext Lisbon Euronext Paris Frankfurt Stock Exchange Ghana Stock Exchange Helsinki Stock Exchange Hong Kong Stock Exchange Indonesia Stock Exchange Irish Stock Exchange Istanbul Stock Exchange Johannesburg Stock Exchange Karachi Stock Exchange Korea Stock Exchange Kuwait Stock Exchange Ljubljana Stock Exchange London Stock Exchange Luxembourg Stock Exchange Madrid Stock Exchange Malaysia Stock Exchange Milan Stock Exchange Montreal Stock Exchange Moscow Interbank Currency Exchange Nagoya Stock Exchange National Stock Exchange of India New York Stock Exchange New Zealand Exchange Nigerian Stock Exchange Osaka Securities Exchange Philippine Stock Exchange Prague Stock Exchange Russian Trading System Santiago Stock Exchange

So Paulo Stock Exchange (BOVESPA) Shanghai Stock Exchange Shenzhen Stock Exchange Singapore Exchange Stockholm Stock Exchange Stock Exchange of Thailand Taiwan Stock Exchange Tehran Stock Exchange Tel Aviv Stock Exchange Tokyo Stock Exchange Toronto Stock Exchange Trinidad and Tobago Stock Exchange Warsaw Stock Exchange Zurich Stock Exchange


Islamabad Stock Exchange (ISE) Karachi Stock Exchange (KSE) Lahore Stock Exchange (LSE) Sialkot Trading Floor (STF)

A regional stock exchange is a term used in the United States to describe stock exchanges that operates outside of the country's main financial center in New York City. A regional stock exchange operates in the trading of listed and over-the-counter (OTC) equities under the SEC's Unlisted Trading Privileges (UTP) rule. Regional exchanges currently registered with the SEC include:

Boston Stock Exchange (BSE or BSX), acquired by NASDAQ in 2007 CBOE Stock Exchange (CBSX) Chicago Stock Exchange (CHX) National Stock Exchange (NSX) Philadelphia Stock Exchange (PHLX), the nation's first stock exchange, acquired by NASDAQ in 2007 Pacific Stock Exchange (PSE), acquired by NYSE in 2006

The Boston and Philadelphia Stock Exchanges were both acquired by NASDAQ in 2007, and the Pacific Exchange acquired in 2006 by the New York Stock Exchange, thus ending their identities as separate stock exchanges.[citation needed]

There used to be many more such exchanges in the United States. Among those that have become defunct or have merged into the survivors listed above are those of Baltimore, which merged with Philadelphia in 1949; Buffalo, New York, which closed in 1936; Cleveland, which merged with Chicago in 1949; Colorado Springs, which closed in 1966; Detroit, which closed in 1976; Denver, which closed in 1936; Hartford, which closed in 1934; Honolulu, which closed in 1977; Salt Lake City, which closed in 1986; Minneapolis-St. Paul, which merged with Chicago in 1949; Milwaukee, which closed in 1938; Los Angeles and San Francisco, which merged to form the Pacific Exchange in 1957; Louisville, Kentucky, which closed in 1935; New Orleans, which merged with Chicago in 1959; Pittsburgh, which merged with Philadelphia in 1969; Richmond, Virginia, which closed in 1972; Seattle, which closed in 1942; St. Louis, which merged with Chicago in 1949; Spokane, Washington, which closed in 1991; Washington, D.C., which merged with Philadelphia in 1953; and Wheeling, West Virginia, which closed in 1965.