2. The Continental Europe
•The first SE – established – Hamburg – German and Dutch – Renaissance –
concerned – bills transactions
•First actual Stock market – operating – Amsterdam – 1611
•Amsterdam SE – First to trade – Shares – Public Cos. – United East India
Company
•Amsterdam SE – ranked – third – important- New York – London – Till
Second World War
•Another Oldest SE – Vienna SE – 1771 – State Institution – market – State
issued bonds
•Italy – First Formal SE – Milan SE – 1808
•Spanish Stock Market – Bolsa de Madrid – 1832
•Scandinavia – Copenhagen SE, Oslo SE – 1819
•Stockholm SE – 1864 – Internationalized in 1901
•Geneva – Oldest among 7 – 1850, - Basle – 1876 – Zurich – 1877 -
Switzerland
3. The London SE
•Oldest – Eng speaking world – Trading Companies- Coffee houses –
Spread – Risk – Backers
•6 Regional SE – Great Britain & Ireland – London, Birmingham,
Manchester, Liverpool, Glasgow and Dublin
North American SEs
• New York SE (NYSE) – 1817 – Trading – Dealer to dealer basis
•American SE (AMEX) – 1953 – Specialist Firms
4. NASDAQ System
•National Association of Securities Dealers Automated Quotations
System – Largest – over the counter market in the world – Started –
1971 – Round the Clock Trading – Fully Computerized System -
•Third Largest- World – NYSE – Tokyo SE
•Started – help – Smaller Cos – listing – Results in – Lower Commission
Charges –Greater Speed – Transactions
Canadian Exchange
•Terms of Market Capitalization – Canada – World’s fourth largest
public equity market
•Three – major SE – Toronto SE - Montreal SE - Vancouver SE
5. The SEs of Japan and the Pacific Basin
•Japan – Tokyo SE(TSE) – World’s Largest SE – in terms – market
capitalization & Turnover – overtaken NSE in 1987.
•TSE –setup – 1878
•Other SEs- Osaka – Nagoya – Kyoto – Hiroshima – Fukuoka – Niigaatta
– Sapporo
•Listed Shares – First Section
•Newly quoted/ unlisted Shares – Traded – Over the Counter – Second
Section
•Over the Counter – Third Section
6. Hong Kong
• SE- 1914 – least restricted market in the world – no exchange controls
– no distinction – resident – non resident – investors
Australia
•First SE-Founded- Melbourne – 1865 , - Sydney – 1871, Brisbane –
1884 – Adelaide – 1887 – Hobart and Perth 1891.
•Now – all SEs – Amalgamated – Australian S E Ltd (ASX)
( Refer Financial Markets and Services – Dr.S.Gurusamy - 2010 Edition –
Page no.476-477, McGraw Hill)
Video URL:
7. Hong Kong
• SE- 1914 – least restricted market in the world – no exchange controls
– no distinction – resident – non resident – investors
Australia
•First SE-Founded- Melbourne – 1865 , - Sydney – 1871, Brisbane –
1884 – Adelaide – 1887 – Hobart and Perth 1891.
•Now – all SEs – Amalgamated – Australian S E Ltd (ASX)
( Refer Financial Markets and Services – Dr.S.Gurusamy - 2010 Edition –
Page no.476-477, McGraw Hill)
Video URL:
