Top 14 Stock Exchanges in the World

yttrium | Feb 6, 2012 |

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You may have heard of large stock exchanges such as the NYSE, NASDAQ and the London Stock Exchange, but have you ever wondered what the largest exchanges in the world are. Here are the world’s top 14 stock exchanges, which are ranked by total market capitalization of firms listed on the exchange in December 2011 (these are indicated in brackets below).

1) NYSE Euronext (US) [US$11.8 trillion]

NYSE Euronext’s stock exchanges in the US include the New York Stock Exchange (or NYSE) and the NYSE AMEX. NYSE Euronext (US) is by far the world’s largest stock exchange by market capitalization. As at December 2011, it has 2,308 listed firms (of which 22.5% are foreign. NYSE Euronext was formed by a merger between the NYSE Group and Euronext NV in 2007.

2) NASDAQ OMX [US$3.8 trillion]

NASDAQ OMX operates the NASDAQ stock exchange (which originally stood for the “National Association of Securities Dealers Automated Quotations”). It is owned by the NASDAQ OMX Group, which also owns 7 Nordic and Baltic exchanges in the OMX network. The NASDAQ has 2,680 listed companies (of which 11.1% are foreign) in December 2011.

3) Tokyo SE Group [US$3.33 trillion]

The Tokyo SE Group owns the Tokyo Stock Exchange (TSE), which is located in Tokyo, Japan. The TSE has 2,291 listed companies (of which 0.5% are foreign firms) in December 2011. In November 2011, it announced that it would merge with the Osaka Securities Exchange, its smaller domestic rival.

4) London SE Group [US$3.27 trillion]

The London SE Group owns the London Stock Exchange (LSE), Europe’s leading stock exchange, and the Borsa Italiana, Italy’s leading stock exchange (acquired in 2007), among other exchanges. The London SE Group has 2,886 listed companies (of which 20.7% are foreign firms) in December 2011. In early 2011, it announced that it was merging with the TMX Group, but this was terminated in June 2011.

5) NYSE Euronext (Europe) [US$2.44 trillion]

NYSE Euronext’s exchanges in Europe include Euronext Amsterdam, Euronext Paris, Euronext Lisbon and Euronext Brussels. As at December 2011, NYSE Euronext (Europe) has 1,112 listed companies (of which 12.9% are foreign). NYSE Euronext was formed by a merger between the NYSE Group and Euronext NV in 2007 (as mentioned in 1 above).

6) Shanghai SE [US$2.36 trillion]

The Shanghai Stock Exchange (SSE) is the largest stock exchange in China. It works as a non-profit institution directly administered by the China Securities Regulatory Commission. There remain some restrictions on foreign investors in the SSE. The SSE has 931 listed companies (all domestic) in December 2011. Many of these companies are state-owned.

7) Hong Kong Exchanges [US$2.3 trillion]

The Hong Kong Exchanges and Clearing owns the Hong Kong Stock Exchange (HKEX or SEHK), located in Hong Kong. The HKEX has 1,496 listed companies (of which 1.6% are foreign, i.e. not from Hong Kong or China) in December 2011. Many Chinese state-owned companies are listed on the HKEX.

8) TMX Group [US$1.9 trillion]

The TMX Group owns the Toronto Stock Exchange (TSX), Canada’s leading stock exchange, and the TSX Venture Exchange (TSX-V), the Canadian exchange for emerging companies, among other exchanges. The TMX Group has 3,945 listed companies (of which 2.5% are foreign) in December 2011. In June 2011, the Maple Group, a consortium of Canadian financial institutions, announced its bid to acquire the TMX Group in a rival bid to the London SE Group’s bid. As at January 2012, the bid is still ongoing, amid regulatory concerns.

9) BM&F BOVESPA [US$1.23 trillion]

The BM&F BOVESPA is the leading stock exchange in Brazil. It is located in Sao Paulo. It has 373 listed companies (of which 1.9% are foreign) in December 2011. It was created through a merger between the Brazilian Mercantile & Futures Exchange (BM&F) and the Sao Paulo Stock Exchange (BOVESPA) in 2008.

10) Australian SE [US$1.20 trillion]

The Australian Securities Exchange (ASX) is the primary stock exchange in Australia. It has a sizable number of listed companies from the natural resources sector. The ASX has 2,079 listed companies (of which 4.6% are foreign) in December 2011. In October 2010, the ASX was in discussion with the Singapore Exchange (SGX) on a possible merger. This was terminated in April 2011 after the Australian government officially blocked the merger.

11) Deutsche Börse [US$1.18 trillion]

The Deutsche Börse is headquartered in Frankfurt, Germany and operates the Frankfurt Stock Exchange, the largest exchange in Germany. As at December 2011, it has 746 listed companies (of which 10.2% are foreign). The Deutsche Börse unsuccessfully tried to merge with the London Stock Exchange in 2001 and with Euronext in 2006 (it lost the latter bid to the NYSE Group). More recently, in February 2012, it abandoned its merger with the NYSE Euronext after opposition from the EU anti-trust authorities.

12) SIX Swiss Exchange [US$1.09 trillion]

The SIX Swiss Exchange is Switzerland’s leading stock exchange and is based in Zurich. It claims to be the most important exchange in Europe in the life science area. As at December 2011, it has 280 listed firms (of which 12.1% are foreign)

13) Shenzhen SE [US$1.05 trillion]

Located in Southern China province of Guangdong, Shenzhen Stock Exchange (SZSE) is the other stock exchange in mainland China (the other one is Shanghai Stock Exchange at No. 6 above). Similar to the other Chinese exchanges, many of the companies listed on the SZSE are state-owned companies. As at December 2011, it has 1,411 listed firms – all of these are domestic firms.

14) BME Spanish Exchanges [US$1.03 trillion]

BME (or Bolsas y Mercados Españoles) operates all the stock exchanges in Spain, including the Bolsa de Madrid, Bolsa de Barcelona, Bolsa de Bilbao and Bolsa de Valencia, among others. As of December 2011, it has 3,276 listed firms (of which 1.1% are foreign).

[All data in this article is from the World Federation of Exchanges.]