Every Monday, the stock exchange markets begin operating in various jurisdictions worldwide from the early morning after 9 am until the late afternoon around 3:350pm. It is the period when the whole market buzzes with activity. The stock exchange is a marketplace for both minor and major stockbrokers, buyers and sellers of the stocks, mutual funds, bonds, exchange-traded funds, derivatives and so much more. The world counts more than 60 stock exchanges globally, all of which are operated electronically nowadays. Different companies choose to be listed on different exchanges which directly determines the size of the stock exchange. Today, we will cover the largest and the most popular stock exchanges in the world along with the illustrated facts and figures regarding each of them.
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Locations of top 8 stock exchanges
As we mentioned, all stock exchanges operate electronically, however, they still have physical locations. The distribution of the top 8 largest stock exchanges worldwide mainly covers three continents: North America, Asia, and Europe. Two of the largest stock exchanges NYSE and NASDAQ are located in the United States, four major stock exchanges are found in Asia including JPX, SEHK, SSE, and SZSE, while the EURONEXT and LSE are located in Europe. The official addresses of these stock exchanges are as follows:
- New York Stock Exchange – 11 Wall St, New York, NY 10005, United States
- Nasdaq Stock Market – 51 W. 42nd Street, New York City, NY, 10036, United States
- Japan Exchange Group – 2-1 Nihonbashi-Kabutochō, Chūō, Tokyo
- The Stock Exchange of Hong Kong Limited – 17M Floor, Hopewell Centre, 183 Queen’s
- Road East, Wanchai, Hong Kong
- Shanghai Stock Exchange – 528 South Pudong RD., Shanghai, 200120, PR China
- Shenzhen Stock Exchange – 2012 Shennan Blvd., Futian District, Shenzhen, P. R. China
- EURONEXT – 14 Place des Reflets Paris La Defense Cedex, 92054 France
- London Stock Exchange – 10 Paternoster Sq., London EC4M 7LS, United Kingdom
The size of the stock exchanges worldwide is usually determined by market capitalization. In general, market capitalization or market cap is measuring the worth of the company on the open market along with its future prospects assessed as per the market’s perception. Usually, it tells how much investors are willing to pay for a specific asset. A market cap of the stock exchange would be the sum of all listed stocks on the exchange and their individual market values.
The largest stock exchange in the world according to market capitalization is NYSE with over 26.2 trillion US dollars market cap. It comprises 27.6% of the overall market cap value of all stock exchanges in the world. The second place holder is NASDAQ with a 20.3% share of the total market cap of 19.3 trillion. SSE and JPX both record a little more than 7% with 6.98 trillion USD and 6.7 trillion USD market cap respectively. EURONEXT’s market capitalization is at 6.6 trillion USD followed by HKEX with 6.04 trillion USD, LSE with 5.3 trillion USD, and SHSE with 5.25 trillion USD.
Market capitalization and annual revenue are two completely different measurement indicators. Hence the list of largest stock exchanges in terms of the market cap looks absolutely different from the list of the stock exchanges with the largest annual incomes. The first one on the list is NASDAQ stock exchange with 5.6 billion US dollars annual revenue. New York Stock Exchange comes next with 3.8 billion US dollars to be followed by JPX with 1.1 billion US dollars, SHSE with 0.9 billion US dollars, HKEX with 0.8 billion US dollars, SSE with 0.7 billion US dollars, EURONEXT with 0.6 billion USD, and finally London Stock Exchange with 0.3 billion US dollars.
Number of people employed
Even though NYSE and NASDAQ are two of the largest stock exchanges in the world they are not the ones to recruit the most staff. Surprisingly, the largest employee base is found with the smallest stock exchange among the top 8 list – London Stock Exchange. LSE is said to employ more than 5200 people. The second-largest stock exchange in terms of employee size is the Shanghai Stock Exchange with 5000 employees. NASDAQ and NYSE follow next with 4800 and 3000 employees respectively. Stock Exchange of Hong Kong Limited accounts 2200 employees, Japan Stock Exchange Group 1200 employees, EURONEXT 1100, and finally, Shenzhen Stock Exchange has 900 employees.
The revenue and market cap per employee:
NYSE – 8.73 USD market cap per employee
NASDAQ – 4 USD market cap per employee
SSE – 1.39 USD market cap per employee
JPX – 5.58 USD market cap per employee
EURONEXT – 8.73 USD market cap per employee
HKEX – 8.73 USD market cap per employee
LSE – 8.73 USD market cap per employee
New York Stock Exchange was established in 1792 and since then operates in a single currency – USD. The most popular NYSE indices are Dow Jones, S&P 500, and NYSE Composite index. The most significant people in NYSE are Jeffrey Sprecher (Chairman), Betty Liu (Executive Vice Chairman), and Stacey Cunningham (President).
NASDAQ was established in 1971 and similar to NYSE it also operates in USD. The most popular indices at NASDAQ are Nasdaq composite, Nasdaq 100, and Nasdaq financial 100. The owner of the stock exchange is Nasdaq Inc with Adena Friedman being the CEO and the president of the company.
Shanghai Stock Exchange dates back to 1990 with the official currency CNY. The two most popular SSE indices are SSE Composite and SSE50. The key people at the Shanghai Stock Exchange are Geng Liang (Chairman) and Zhang Yujun (President).
The Stock Exchange of Hong Kong Limited was formed in 1891 with the main currency being the Hong Kong Dollar. The most popular index of the stock exchange is Hang Seng Indexes. The most important people at the stock exchange are Nicolas Aguzin (CEO) and Laura Cha (Chairman).
Japan Exchange Group was originated in 1949. The official currency of the exchange is the Japanese yen. The subsidiaries of the exchange are Tokyo Stock Exchange, Osaka Exchange, Tokyo Commodity Exchange, Japan Exchange Regulation, and Japan Securities Clearing Corporation. The most important person at the stock exchange is Atsushi Saito, CEO.
Shenzhen Stock Exchange was established in 1987. The main currency of SZSE is CNY. The most popular indices of the SZSE are blue-chip 100, SZSE 200, SZSE 300, Major Composite Index, SZSE 700, SZSE1000, and SZSE composite. The key people at SZSE are Wu Lijun(Chairman) and Wang Jianjun (President and CEO).
EURONEXT is one of the oldest stock exchanges originating in 1602. The official currency of the stock exchange is Euro. The exchange has several subsidiaries including Borsa Italiana, Euronext Amsterdam, Euronext Brussels, Euronext Dublin, Euronext Lisbon, Euronext Paris, and Oslo Børs. Stéphane Boujnah is the CEO and Chairman of the Managing Board.
London Stock Exchange dates back to 1801 with the main currency being the British pound sterling. The owner of the stock exchange is LSE Group. The major indices of the exchange are FTSE 100 Index, FTSE 250 Index, FTSE 350 Index, FTSE SmallCap Index, and FTSE All-Share Index. Don Robert is the Chairman of LSE and David Schwimmer is the CEO.