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International Stock Exchanges
- Albania - Tirana Stock Exchange
- Argentina - Buenos Aires Futures
Market
Mercados de Futuros y Opciones S.A.
MAT is a business Co. which registers and guarantees futures and options transactions.
MAT neither trades nor participates in price making; these fuctions are operators'
exclusivity since they represent supply and demand.
- Argentina - Buenos Aires Stock Exchange
Visi? de Bolsar:
Por el prestigio institucional, la exactitud y confiabilidad de su contenido y la seriedad
del compromiso que asume ante los usuarios, Bolsar es un ineludible sitio de informaci?
a tiempo real del mercado de capitales en la red, para consulta de inversores, operadores,
empresarios, profesionales de las finanzas, analistas y otros participantes del mercado.
- Argentina - Rosario Futures Exchange
Rosario Futures Exchange (ROFEX) founded in 1909 - as the "Mercado General de
Productos Nacionales" (General Exchange of National Commodities) traded huge volumes
of linen (1.3 Million Metric Tons in 1924) , corn (3.3 MMT in 1929) and wheat (3.7 MMT in
1924) during the first two decades, until governments not fond of free markets took power
and inflation became a permanent fashion in the country. Between the late thirties and the
end of the eighties, this exchange was most of the time intervened by government who used
it as a regulatory agency and for official grain purchases.
At the beginning of the nineties the government allowed the negotiation of grain futures
contracts in US dollars.
The latest and more active product is the Rosafe Soybean Index (RSI), a futures and
options contract on soybeans, cash settled against the spot price at Rosario, where 75 %
of the argentine soybeans crop is cash traded.
In september 1998, Rofex added to its traditional open-cry pit a screen based trading
system called e-ROFEX.
- Armenia - Armenian Stock Exchange
Armenian Stock Exchange is member of The Federation of Euro-Asian Stock Exchanges (FEAS)
and The International Association of Exchanges of the CIS countries (IAEx of CIS)
- Australia - Australian Stock Exchange
Ltd
The Australian Stock Exchange Limited (ASX) was formed in 1987 through the merging of the
six independent stock exchanges which operated in the state capital cities.
ASX was originally a mutual organisation of stockbrokers. In 1996 its members demutualised
and became a listed company. The change of status took place on 13 October 1998, and the
following day ASX shares were listed for trading on ASX's own market.
ASX operates Australia's primary national stock exchange for equities, derivatives and
fixed interest securities.
The market capitalisation of domestic equities listed on the Australian Stock Exchange has
grown from approximately AUD198.3bn in 1992 to AUD699.8bn at 30 June 2002. Over this same
period, the volume of equities trades has risen by approximately 645%.
The structure of the market has changed substantially. In the 1980s itt was dominated by
mining and resources companies as well as manufacturing companies. While these sectors
have continued to grow and are an important part of the Australian market, there has also
been a significant growth in the financial and other services sectors which includes
companies such as those involved in telecommunications.
ASX has memoranda of understanding with the national exchanges in Hong Kong, Indonesia,
Korea, Malaysia, the Philippines, Taiwan, Tokyo, Thailand and Singapore. Under the
auspices of such MOUs, ASX is building closer relationships with exchanges in its region
with a view to extending its network of market linkages.
As at Feb 03 a total of 1420 companies were listed on the Australian Stock Exchange, of
these, 1353 were domestic and 67 foreign listings.
- Australia - Stock Exchange of
Newcastle Ltd
The Stock Exchange of Newcastle Limited is Australia?s second official stock exchange
approved under Corporations Law in Australia. The exchange has developed a unique set of
Listing Rules to assist small, medium and regionally based business to list their
securities on an approved Stock Exchange.
- Australia - Sydney Futures Exchange
SFE and its subsidiary companies provide exchange-traded and over-the-counter (OTC)
financial services to institutions throughout the Asia-Pacific region and globally.
Fully electronic and with 24-hour trading capability, SFE offers the financial market
community trading products for investment and risk management, disseminates real-time and
historical trading market data and provides centralised clearing, settlement and
depository services for both derivative and cash products.
- Austria - Vienna Stock Exchange
(Wiener Borse)
Wiener B?se is a modern customer- and market oriented financial service company that
plays a pivotal role in the Austrian capital market. It is the only securities exchange
and listing authority in Austria and offers, in addition to the traditional cash market
(equity market, bond market), an innovative derivatives market (otob market) and warrants
market. All trading on Wiener B?se is conducted through the fully electronically trading
systems, Xetra? (cash market) and OMex? (derivatives, warrants). These systems guarantee
the greatest possible transparency as well as fast and efficient execution of market
transactions.
- Bahrain - Bahrain Stock Exchange
In 1920 the first commercial bank opened its doors in Bahrain, in order to facilitate the
business community at that time. By 1957, Bahrain had its first public shareholding
company, the National Bank of Bahrain. However, it was not until the late 1970s and early
1980s that Bahrain realized there was a growing need for an organized stock market, due to
the growth provided by the oil price boom in the region.
As a result, the Government, in cooperation with the International Finance Corporation
(IFC), prepared a feasibility study highlighting the importance of establishing an
official stock market in Bahrain. So in 1987, Amiri Decree No. 4 was issued, establishing
the Bahrain Stock Exchange (BSE), which officially commenced operations on 17th June 1989
with 29 companies listed on the Exchange.
- Bangladesh - Chittagong Stock Exchange
Eligibility of a Member for Trading:
- Becoming the member of CSE Clearing House;
- Obtaining Dealership / Brokerage License from SEC;
- Not otherwise barred by CSE or SEC.
- Bangladesh - Dhaka Stock Exchange
The DSE was incorporated on 28 April 1954 as the East Pakistan Stock Exchange Association
Limited.On 23 June 1962, it was renamed as the Dhaka Stock Exchange Limited. Formal
trading began in 1956.
LEGAL CONTROL
The Dhaka Stock Exchange (DSE) is registered as a Public Limited Company and its
activities are regulated by its Articles of Association rules & regulations and
bye-laws alongwith the Securities and Exchange Ordinance, 1969, Companies Act 1994 &
Securities & Exchange Commission Act, 1993.
MEMBERS
Number of members at present is 195. Provision has been made to increase the number up to
500.
- Barbados - Securities Exchange of
Barbados
The Securities Exchange of Barbados was established on June 1, 1987 under Section 44 of
the Securities Exchange Act 1982. The Exchange is a corporate body without share capital
and is administered by a General Manager through a Board of Governors who establishes
By-Laws and Rules to regulate the affairs and business of the Exchange. The Exchange has
set standards and rules of conduct to which Members must adhere.
Originally residual power was reversed to the Minister of Trade to make Regulations inter
alia, respecting any matter necessary or advisable in effectively carrying out the
purposes of the Securities Exchange Act. On February 15, 1996 that power was transferred
to the Minister of Finance.
- Belgium - Euronext Brussels
Corporate strategy
Euronext is pursuing a strategy that combines organic growth with an active product
policy, expansion of its client base, and external growth. Since its formation, it has
expanded its product offering, particularly in the field of derivatives, and has increased
the numbers of issuers listed on its markets, and investors active on its markets. It has
also connected more members to its single cash trading platform, offering increased
liquidity and lower transaction costs. The external growth strategy aims at the benefits
for customers and shareholders, integrating the rather fragmented European capital market.
This takes the form of an acquisition policy and the unification of the pools of liquidity
by means of technical platforms and harmonized rules.
- Bermuda - Bermuda Stock Exchange
The Bermuda Stock Exchange (BSX) was established in 1971, primarily as a domestic equities
market. However as the Island?s international financial sector grew so too did the
Exchange and in 1992 the company was restructured into a demutalised, for ?profit
entity.
Today, the BSX is the world?s largest offshore, fully electronic securities market
offering a full range of listing and trading opportunities for international and domestic
issuers of equity, debt, depository receipts, insurance securitization and derivative
warrants.
The Bermuda Stock Exchange?s significant growth over the last several years is due in
large part to the company?s innovative and flexible approach. In addition to taking a
leading role in what has become a world trend towards profitability and demutalisation,
the Exchange has sought to create unique products and services for its niche offshore
market.
- Bolivia - Bolivian Stock
Exchange (Bolsa Boliviana de Valores)
La Bolsa Boliviana de Valores (BBV) es una empresa privada, constituida como sociedad
anonima, con fines de lucro, que opera desde 1989.
Su principal objetivo es promover un mercado de valores regular, competitivo, equitativo y
transparente, proporcionando infraestructura, sistemas y normas para canalizar
eficientemente el ahorro de los inversionistas hacia empresas e instituciones privadas y
estatales, que requieran de tales recursos para financiar proyectos productivos y de
desarrollo.
- Bosnia - Sarajevo Stock Exchange
(Sarajevska Berza)
Sta je to berza?
Berza je mjesto gdje se vrsi trgovina vrijednosnim papirima.
Vrijednosni papir je prema Zakonu o vrijednosnih papirima (ZVP), (?Sluzbene novine
Federacije BiH?, broj 39/98 i 36/99) ?isprava ili elektronicki zapis koji sadrzi prava
koja se bez istih ne mogu ni ostvarivati ni prenositi?.
- Botwana -
Botswana Stock Exchange
Postal Address:
Private Bag 00417, Gaborone, Botswana
Physical Address:
4th Floor
Finance House
Khama Crescent, Gaborone, Botswana
Share trading in Sri Lanka dates back to 1896 when the Colombo Brokers Association
commenced the share trading in limited liability companies which were involved in opening
plantations in the country. The establishment of a formal stock exchange in 1985 and the
incorporation of the Colombo Stock Exchange marked a milestone in the history of share
trading in Sri Lanka.
The Colombo Stock Exchange (CSE) is a company limited by guarantee, and established under
the Companies Act No. 17 of 1982. The CSE took over the Stock Market in 1985 from the
Colombo Share Brokers Association. It currently has a membership of 15 institutions, all
of which are licensed to operate as stockbrokers.
- Swaziland - Swaziland Stock Exchange
- Sweden - OM Stockholm Stock Exchange
On September 4, 2003, OM and the Finnish exchange operator HEX merged to form OMHEX, the
largest securities market in Northern Europe and a leading provider of marketplace
services and solutions for the financial and energy markets. OMHEX is made up of two
divisions: OM Technology and HEX Integrated Markets.
OM Technology is a world leading provider of solutions and services - outsourcing and
transaction processing - based on pioneering and proven technology. Our promise is simple:
we make securities transactions more efficient for the entire spectrum of front, middle
and back office. Today, over 300 customers in 10 countries rely on OM's technology to run
their marketplaces and secure their mission-critical systems.
HEX Integrated Markets is the integrated Nordic and Baltic marketplace for securities,
giving customers access to 80 percent of the Nordic securities market. HEX Integrated
Markets includes Stockholmsb?sen, HEX Helsinki, HEX Tallinn and HEX Riga.
- Sweden - Stockholm Stock
Exchange
HEX Integrated Markets is northern Europe's largest securities market. Through its
exchange operations within Stockholmsb?sen, HEX Helsinki, HEX Tallinn and HEX Riga it
offers investors access to 80 percent of the Nordic equity market and 75 percent of the
Baltic equity market. HEX Integrated Markets also operates CSD's in Finland, Estonia and
Latvia.
An integrated Nordic platform will be offered to market participants, based on OM
Technology's platforms. This will generate an increased liquidity, harmonised markets,
more efficient member access, broader service range and lower costs when connecting to
Nordic markets.
HEX Integrated Markets will provide the most liquid market for all securities traded on
Stockholmsb?sen, HEX Helsinki, HEX Tallinn and HEX Riga. HEX Integrated Markets will
also provide the best and most cost efficient processes available for trading and
post-trading operations for customers.
The other Nordic and Baltic exchanges and CSDs are invited for further integration.
Possible further consolidation within the Nordic and Baltic markets will provide even
better opportunities for reaching the vision and benefit customers and investors.
HEX Integrated Markets has annual revenues of 1,820 MSEK (2002) and 400 employees in
Finland, Sweden, Estonia and Latvia. Headquarters of HEX Integrated Markets is located in
Helsinki, Finland.
- Switzerland - Swiss Exchange
The SWX is one of most technologically advanced securities exchanges in the world.
Underpinned by the strength of the Swiss financial marketplace, it pursues a solidly
international strategy. In cross-border cooperation with its partners, the SWX Swiss
Exchange provides first-class Exchange services in the interests of all involved. It
boasts not only an extensive product range, but also a fully integrated electronic
trading, clearing and settlement system which is still the only one of its kind in the
world. With a single mouse-click, trading, payment, settlement and confirmation are
completed in the space of two minutes. This fully integrated process is based on the
electronic system run by SWX Swiss Exchange, Swiss Interbank Clearing - SIC and SIS
Segaintersettle AG.
The SWX Swiss Exchange brings together participants, issuers and investors in an efficient
and transparent market. It is the home Exchange and key market for leading international
companies. The prominence of both participants and listed companies ensures excellent
liquidity. Thanks to its technological leadership, the SWX Swiss Exchange has
distinguished itself as a customer-oriented Exchange services provider ? a strong basis
for the trust of a growing number of participants. Over 100 participants trade on the SWX
Swiss Exchange, including some of the most important global players in the financial
markets.
- Taiwan - Taiwan Futures Exchange
The government of the Republic of China initiated the plan of making Taiwan a regional
operation center in the Asia Pacific region. In this regard, a comprehensive financial
market would play an important role in achieving this goal. Acknowledging that a channel
for risk management is essential to the efficiency of the domestic financial market and to
the competitive advantages in the global markets, the Government implemented a futures
market development plan in the year of 1992.
After 5-year successive evolutions, the first futures exchange in Taiwan, Taiwan Futures
Exchange (TAIFEX), was founded by the strenuous joint efforts of the Government and the
private sectors. The existence of a derivatives market and the introduction to the
products will enable market participants to become familiar with financial market in a
faster and more sufficient way. Also the enterprises and the general investors are able to
manage their funds and market risk more effectively through the interaction between the
spot and futures market.
- Taiwan - Taiwan Stock Exchange
Corporation
- Tanzania - Dar-es-Salaam Stock
Exchange
- Thailand - Thailand Stock Exchange
- Tunisia - Tunis Stock Exchange
- Turkey - Istanbul Stock Exchange
- U.S.A. - American Stock Exchange
The American Stock Exchange has been a pioneer in market innovation for more than a
century and remains committed to developing successful new investment products and
innovative services for companies and investors. For information on the Exchange today,
click on Daily Statistics, Executive Biographies, and Board of Governors.
As the nation's most diversified financial marketplace, the American Stock Exchange
conducts trading through an advanced centralized specialist system and is committed to
providing a superior marketplace for the investing public and its members. Details on how
the Exchange works can be found in Market Structure and Trade Execution.
- U.S.A. -
Arizona Stock Exchange
- U.S.A. - Boston Stock Exchange
The BSE's roots go back to the 1830s when Bostonians were looking for new ways to invest
the wealth they had earned through shipping, banking, and insurance. As New England's -
and the nation's - industry grew, capital had to be raised to expand the region's
businesses and fund larger enterprises.
To meet this need, 13 business leaders founded the Boston Stock Exchange in 1834 as the
third U.S. stock exchange, creating a meeting place for local stock brokers to trade their
shares. Initially, only the stocks of local banks and insurance companies were traded on
the new exchange. Soon mill, railroad, utility, and canal stocks were added. In 1878,
AT&T was listed just two years after Alexander Graham Bell had invented the telephone
in his Boston workshop. In fact, capital raised in Boston funded many of the factories,
mines, and railroads that fueled the economic expansion of the United States in the
nineteenth and twentieth centuries.
Today, the BSE is an integral part of Boston's financial community, which is the third
largest investment management center in the world, eclipsed only by New York and London.
Boston, the birthplace of the mutual fund, is now arguably the "mutual fund
capital" of the world with literally trillions of dollars invested in funds managed
here.
- U.S.A. - Chicago Board Options Exchange
- U.S.A. - Chicago Mercantile Exchange
Chicago Mercantile Exchange Inc. (CME) is the largest futures exchange in the United
States and the second largest exchange in the world for the trading of futures and options
on futures. As a marketplace for global risk management, our exchange brings together
buyers and sellers of derivatives products, which trade on our trading floors, on our
GLOBEX electronic trading platform and through privately negotiated transactions. Futures
and options provide a way to protect against ? and profit from ? price changes in
financial instruments and physical commodities. In addition, we own our own clearing house
and are able to guarantee, clear and settle every contract traded through our exchange.
Founded as a not-for-profit corporation in 1898, we became the first publicly traded U.S.
financial exchange in December 2002 when the Class A shares of our parent company, Chicago
Mercantile Exchange Holdings Inc., began trading on the New York Stock Exchange under the
ticker symbol CME.CME Holding is part of the Russell 1000? Index.
CME has four major product areas: interest rates, stock indexes, foreign exchange and
commodities. In 2002, a record 558.4 million contracts with an underlying value of $328.6
trillion changed hands at CME, representing the largest notional value traded on any
futures exchange in the world. In addition, we move about $1.8 billion per day in
settlement payments and manage $27.4 billion in collateral deposits.
CME has the largest futures and options on futures open interest of any exchange in the
world. Open interest is the number of outstanding contracts at the close of the trading
day and a leading indicator of liquidity. Liquidity of markets is the ability of a market
to quickly and efficiently absorb the execution of large purchases and sales. It is a key
component to attracting customers and ensuring a market's success.
- U.S.A. - Chicago Stock Exchange
The Chicago Stock Exchange provides a vital element of competition to the marketplace.
Founded May 15, 1882, the CHX has risen to become one of the largest exchanges in the
world.
- U.S.A. - Cincinnati Stock
Exchange
The Cincinnati Stock Exchange provides its members and their customers an efficient,
highly regulated market for the trading of equity securities. The CSE is committed to
utilizing our unique electronic trading floor and competing specialist system to ensure
the best execution at the lowest possible cost.
By being the first exchange to eliminate the need for a physical trading floor, the CSE
was able to use technology to reduce costs to its member firms and ultimately their
customers while maintaining an efficient auction market.
- U.S.A. - International Securities
Exchange
The International Securities Exchange, the world's largest equity options exchange, was
founded on the principle that technology fosters and infuses new efficiencies and
operational innovations into securities trading. After developing an innovative market
structure that integrated auction market principles into an advanced screen-based trading
system, ISE launched the first fully electronic US options exchange in May 2000. ISE
continually enhances its trading systems to provide investors and the trading community
with the most efficient, least expensive order executions possible.
- U.S.A. - Kansas City Board of Trade
Kansas City Board of Trade is a place where buyers and sellers gather to trade commodities
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