Sunday, November 8, 2009

North American Stock Exchanges

  • Alberta Stock Exchange, Canada
  • Montreal Stock Exchange, Canada
  • Toronto Stock Exchange, Canada
  • Vancouver Stock Exchange, Canada
  • Winnipeg Stock Exchange, Canada
  • Canadian Stock Market Reports, Canada
  • Canada Stockwatch, Canada
  • Mexican Stock Exchange, Mexico
  • AMEX, United States
  • New York Stock Exchange (NYSE),United States
  • NASDAQ, United States
  • The Arizona Stock Exchange, United States
  • Chicago Stock Exchange, United States
  • Chicago Board Options Exchange, United States
  • Chicago Board of Trade, United States
  • Chicago Mercantile Exchange, United States
  • Kansas City Board of Trade, United States
  • Minneapolis Grain Exchange, United States
  • Pacific Stock Exchange, United States
  • Philadelphia Stock Exchange, United States

Swiss Exchange, Switzerland

A service of SIX Swiss Exchange Ltd in collaboration with SIX SIS Ltd and Eurex Zurich Ltd (Collateralisation and SecLend Market)

Certificates are bearer debt instruments (claims). The investor who purchases a certificate assumes a default risk that varies according to the creditworthiness of the issuer. The insolvency of the issuer may result in a total loss for the investor. In order to minimize this risk, SIX Swiss Exchange is offering a service for the collateralization of certificates in collaboration with SIX SIS and Eurex Zurich Ltd. The collateralization is based on the "Framework Agreement for Collateral Secured Instruments (in German)", which the issuer and collateral provider conclude with SIX Swiss Exchange and SIX SIS. The administration of the securities used as collateral is undertaken via the established technical infrastructure of SIX SIS and Eurex Zurich Ltd (Collateralisation and SecLend Market).

Based on the Framework Agreement, the collateral provider undertakes to grant SIX Swiss Exchange a right of lien on selected securities (book entry securities, securities embodied in a certificate, value rights, or cash). The COSI and the collateral itself are valued on each banking day. The collateral provider is obliged to adjust the level of the collateralization in the event of any changes in value. Investors do not themselves have any surety right to the collateral. However, the collateralization works in their favor insofar as the collateral is liquidated upon the occurrence of certain events as defined in the Framework Agreement (liquidation events) and the net proceeds of the liquidation of the collateral are then distributed proportionately among the investors. The market risks associated with a certificate and its collateral (price fluctuations due to changes in value of the underlying) are not affected by the collateralization process and remain wholly with the investor. Further information on this service for investors can be found in the world.

Johannesburg Stock Exchange, South Africa

The JSE Ltd (“JSE”) is licensed as an exchange under the Securities Services Act, 2004 and Africa’s premier exchange. It has operated as a market place for the trading of financial products for nearly 120 years. In this time, the JSE has evolved from a traditional floor based equities trading market to a modern securities exchange providing fully electronic trading, clearing and settlement in equities, financial and agricultural derivatives and other associated instruments and has extensive surveillance capabilities. The JSE is also a major provider of financial information. In everything it does, the JSE strives to be a responsible corporate citizen.
  • In 8 November 1887 trading commenced by way of open outcry on a trading floor.
  • In March 1996, trading on the Johannesburg Equities Trading (JET) system commenced. 800 securities were transferred in the 3 month period from 8 March 1996 to 7 June 1996.
  • On 7 June 1996 the trading floor closed after a 108 year era.
  • By Monday 10 June 1996 the JET System was fully operational.
  • The JSE moved to JSE SETS in May 2002, thus commencing the new trading platform arrangements with the London Stock Exchange and allowing JSE investors access to world class technology.

FTSE International (London Stock Exchange), United Kingdom

FTSE Licenses Three International Benchmarks to Schwab for the Creation of New Exchange Traded Funds

FTSE Group (FTSE), the leading global index provider, today announced that they have licensed three international equity indexes to Charles Schwab Investment Management for the creation of three new exchange traded funds (ETFs). The funds will be among Schwab’s first ETF offerings, and will track the FTSE All Emerging Index, the FTSE Developed ex-US Index, and the FTSE Developed Small Cap ex-US Liquid Index.

The FTSE All Emerging Index tracks the performance of large- and mid- cap stocks from 22 emerging markets including Brazil, China, Taiwan and India. The FTSE Developed ex-US Index is comprised of large- and mid-cap stocks from 24 developed markets, excluding the United States. Companies from the United Kingdom and Japan, followed by Canada, Germany and Switzerland make up a majority of the index. The FTSE Developed Small Cap ex-US Liquid Index is made up of small-cap stocks from 24 developed markets, excluding the United States. An enhanced liquidity screen ensures that the small-cap stocks in this index have a free-float adjusted market capitalization of at least $150m USD. Of the largest companies in the index, the majority are Canadian.

Over the 5-year trailing period, the FTSE All Emerging Index has consistently outperformed both the FTSE Developed ex-US and FTSE Developed Small Cap ex-US Liquid indexes. One reason for this outperformance is that the FTSE All Emerging Index is heavily weighted with Brazilian and Chinese stocks, which make up 19.36% and 17.87% of the index respectively, and its performance has been driven by the continued growth of these two economies.

"We are pleased that Schwab has selected FTSE benchmarks as the basis for their first international exchange traded fund offerings," said FTSE CEO Mark Makepeace. "FTSE's Global Equity Index Series consists of transparent, liquid and rules-based benchmarks that continue to be attractive to issuers of ETFs and other tradeable products worldwide." Added Peter Crawford, senior vice president at Charles Schwab, "Schwab is pleased to introduce an impressive array of Exchange Traded Funds. We were delighted to collaborate with FTSE, a highly reputable partner, in their development."

New York Stock Exchange (NYSE),United States

NYSE Euronext, the holding company created by the combination of NYSE Group, Inc. and Euronext N.V., was launched on April 4, 2007. NYSE Euronext (NYSE/New York and Euronext/Paris: NYX) operates the world ' s largest and most liquid exchange group and offers the most diverse array of financial products and services. NYSE Euronext, which brings together six cash equities exchanges in seven countries and eight derivatives exchanges, is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data.
  • NYSE Euronext European derivatives products average daily volume (“ADV”) in October 2009 of 3.9 million contracts decreased 12.9% compared to October 2008, and decreased 11.1% from September 2009. Total interest rate products ADV in October 2009 of 2.0 million contracts decreased 9.5% compared to October 2008 and total equity products ADV of 1.8 million contracts decreased 16.9% compared to October 2008.

  • NYSE Euronext U.S. equity options ADV of 3.2 million contracts in October 2009 increased 23.3% compared to October 2008 levels, and increased 6.3% from September 2009. NYSE Euronext’s U.S. options exchanges accounted for 22.8% of the total consolidated equity options trading in October 2009, up from 17.6% in October 2008, and up from 21.4% in September 2009.

  • NYSE Liffe U.S. futures and futures options ADV in October 2009 of approximately 22,000 contracts increased from approximately 21,000 contracts in September 2009 with the launch of equity index futures trading in September 2009 based on the MSCI U.S., EM and EAFE indexes.

  • NYSE Euronext European cash products ADV of 1.6 million transactions in October 2009 decreased 26.1% compared to October 2008, but increased 7.1% from September 2009 and represented the third consecutive monthly increase in trading volumes since July with market share stable at approximately 78%.
  • NYSE, NYSE Arca and NYSE Amex (“NYSE Group”) U.S. cash products handled ADV of 2.9 billion shares in October 2009 decreased 38.9% compared to October 2008 and decreased 3.3% compared to September 2009. NYSE Group matched share of all U.S. equity trading volume in October 2009 was 28.1%, up from 28.0% in September 2009, and compared to matched market share of 24.7% for our next largest competitor. NYSE Group’s Tape A matched market share in October 2009 was 36.6%, up from 36.1% in September 2009.

  • NYSE Euronext is the largest exchange operator in the two fastest growing tapes in the U.S. equity markets. Year-to-date, total Tape A and Tape B consolidated ADV of 7.9 billion shares increased a combined 23.6%, compared to the prior year period, while Tape C consolidated ADV of 2.3 billion shares has declined 0.9% during the same period.

Toronto Stock Exchange, Canada

With the introduction of four new specialty cross types from TSX Markets, market participants now enjoy more ways to take advantage of market opportunities. These improvements are designed to decrease costs associated with advanced trading techniques. Each specialty cross type provides distinct market advantages and these crosses are not subject to interference. In addition, because specialty cross types are flagged publicly, they offer the marketplace better transparency for large specialized transactions.

Basis Cross

A trade whereby a basket of securities or an index participation unit is transacted at prices achieved through the execution of related exchange-traded derivative instruments which may include index futures, index options and index participation units in an amount that will correspond to an equivalent market exposure.

VWAP Cross

A transaction for the purpose of executing a trade at a volume-weighted average price of a security traded for a continuous period on or during a trading day on Toronto Stock Exchange.

Contingent Cross

A trade resulting from a paired order placed by a Participant on behalf of a client to execute an order on a security that is contingent on the execution of a second order placed by the same client for an offsetting volume of a related security.

Special Trading Session (STS) Cross

A closing price cross resulting from an order placed by a Participant on behalf of a client for execution in the Special Trading Session at the last sale price.

Using the Specialty Cross Types

Although the specialty cross types may be executed anonymously, brokers must report each cross using the appropriate marker (i.e. basis cross marker, VWAP cross marker, etc). This alerts the Toronto Stock Exchange system that the cross can fall outside of normal market parameters. Each trade appears on all real-time TSX trade data. (In addition TMX Datalinx offers reports detailing the Specialty Price Crosses executed on a daily or monthly basis.)

Basis Cross, VWAP Cross and Contingent Cross
  • Available in the regular session (9:30 a.m. - 4:00 p.m.) and during the extended session (from 4:15 - 5:00 p.m.)
  • Report trade using appropriate marker (basis cross, VWAP cross or contingent cross)
  • May only be entered as a boardlot trade (oddlot or mixedlot crosses are not accepted)
  • Basis and VWAP crosses will not set last sale price
  • Basis and VWAP crosses may be printed to three decimal places
  • Basis and VWAP crosses may be printed outside the quote (subject to regulatory restrictions)
Special Trading Session (STS) Cross
  • Available only during extended session (from 4:15 - 5:00 p.m.)
  • Can only be printed at the last sale price
  • Cannot change last sale price
  • Report trade using new STS cross marker
  • May only be entered as a boardlot trade (oddlot or mixedlot crosses are not accepted)

NASDAQ United States

NASDAQ (acronym National Association of Securities Dealers Automated Quotations system) is an American stock market. It was founded in 1971 by the National Association of Securities Dealers (NASD), who divested it in a series of sales in 2000 and 2001. It is owned and operated by The Nasdaq Stock Market, Inc. the stock of which was listed on its own stock exchange in 2002. NASDAQ is the largest electronic screen-based equity securities market in the United States. With approximately 3,200 companies, it lists more companies and on average trades more shares per day than any other U.S. market.


NASDAQ allows multiple market participants to trade through its Electronic Communication Networks (ECNs) structure, increasing competition. The Small Order Execution System (SOES) is another NASDAQ feature, introduced in 1987, to ensure that in 'turbulent' market conditions small market orders are not forgotten but are automatically processed. With approximately 3,200 companies, it lists more companies and, on average, its systems trade more shares per day than any other stock exchange in the world. NASDAQ will follow the New York Stock Exchange in halting domestic trading in the event of a sharp and sudden decline of the Dow Jones Industrial Average.

In business, Nasdaq is often used as a non-acronym also.

As of 1 March 2007, NASDAQ is the largest Electronic Communication Network system in terms of shares traded. Approximately two out of every seven shares traded on the American financial markets is traded on the system. For New York Stock Exchange-listed securities or Tape A, it accounts for about 14-15% of the shares traded. For Tape C securities, it accounts for approximately 45-98% of the trading volume.
NASDAQ has a sliding fee system that offers lower liquidity removal fees and more favorable added-liquidity rebates based on how much trading volume the market participant executes on the NASDAQ system.

NASDAQ quotes are available at three levels. Level I shows the highest bid and lowest offer — the inside quote. Level II shows all public quotes of market makers together with information of market makers wishing to sell or buy stock and recently executed orders. Level III is used by the market makers and allows them to enter their quotes and execute orders.

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.

A case in point is the Exchange's "Mezzanine Market" , a unique pre-IPO market listing for start-up, high growth potential companies.

Unlike AIM in the UK or the European Neur Market, the BSX Mezzanine Market offers development stage companies the opportunity to list on a recognized international stock exchange without having to commit to a full IPO.

This is due in large part to the fact that the BSX restricts Mezzanine Market investment to 'Qualified Investors'. This means that access is limited to intuitional and or sophisticated investors only in this way, the BSX can rely more on full disclosure than prescriptive regulations for investor protection purposes.

In addition to the Mezzanine Market the BSX supports an active domestic market that trades daily, Monday through Friday and a robust after-hours crossing market for large institutional block trades. It is one of the world's leading listing facilities for offshore funds and alternative investment vehicles and supports niche markets for specialized insurance and debt products.

Trading on the BSX is executed through the Exchange's customized trading system, BEST (Bermuda Electronic Securities Trading), a fully automated system based on a central limit order book which allows Trading Members to trade both equity and fixed income securities on an equal, real-time 'first come, first served' basis. Once executed, trade information is disseminated electronically to key financial information providers Bloomberg and Reuters for worldwide distribution. Thus creating a transparent, liquid and global market for Bermuda.

At the close of 2001 the BSX introduced the final phase of its electronic build out with the introduction of the ' Bermuda Securities Depository' (BSD), Bermuda's national securities depository.

The move is a natural progression for the Exchange, which, as a full member of the World Federation of Exchanges, is committed to meeting and exceeding international securities market standards. Since the late 1980s the introduction of a central securities depository and shorter settlement cycles have been universally acknowledged as the best way to reduce risk and make securities markets more efficient.

Another contributing factor to the Exchange's success is the BSX's 'light but effective' regulatory environment which makes it conducive to new and innovative product listings, especially 'institutional only' securities. The BSX is bound neither by European Union Listings Directive, nor United States Securities Exchange Commission (SEC) regulations.

However, as a full member of the World Federation of Exchanges (formally the FIBV) the BSX has been acknowledged by its peers to meet the highest regulatory and operational standards. Similarly the US Securities Exchange Commission recognises the BSX as a 'Designated Offshore Securities Exchange' (DOSM) and the UK Financial Services Authority (FSA) recognises the BSX as a 'Designated Investment Exchange' (DIE).

While all these initiatives, products and recognitions go a long way to explaining the Exchange's steady growth, they do not tell the whole story. Location, a world-class reputation and the flexibility to move rapidly with the times have also contributed significantly to the Exchange's success to date.

Bermuda has earned a reputation as a world-class centre of commerce, featuring a business-friendly environment, a stable and growing economy, and an unmatched collection of talent and intellectual capital in key sectors, including insurance, financial services, and, more recently, electronic commerce.

Bermuda's regulatory and legal systems (British Common Law) have evolved "over the years", not only facilitating business, but also allowing it to flourish. The island offers international companies a sophisticated high-tech infrastructure and is rich in intellectual capital.

The Bermuda Government works closely with Bermuda's international business community to develop laws & regulations that enhance the business environment in Bermuda. Similarly, Bermuda's telecommunications infrastructure and high technology backbone provide maximum bandwidth, with full redundancy, to the island, enabling Bermuda to accommodate rapidly growing global electronic commerce and communication services.

Bermuda is a truly offshore financial center, with a sterling reputation. Located just seven hundred miles off the US eastern seaboard and less than seven hours by air from London the Island is both geographically and legislatively independent and neutral, making it an ideal hub for international finance.

Tuesday, November 3, 2009

South American Stock Exchanges

  • Bermuda Stock Exchange, Bermuda
  • Rio de Janeiro Stock Exchange, Brazil
  • Sao Paulo Stock Exchange, Brazil
  • Cayman Islands Stock Exchange, Cayman Islands
  • Chile Electronic Stock Exchange, Chile
  • Santiago Stock Exchange, Chile
  • Bogota stock exchange, Colombia
  • Occidente Stock exchange, Colombia
  • Guayaquil Stock Exchange, Ecuador
  • Jamaica Stock Exchange, Jamaica
  • Nicaraguan Stock Exchange, Nicaragua
  • Lima Stock Exchange, Peru
  • Trinidad and Tobago Stock Exchange, Trinidad and Tobago
  • Caracas Stock Exchange, Venezuela
  • Venezuela Electronic Stock Exchange, Venezuela

North American Stock Exchanges

  • Alberta Stock Exchange, Canada
  • Montreal Stock Exchange, Canada
  • Toronto Stock Exchange, Canada
  • Vancouver Stock Exchange, Canada
  • Winnipeg Stock Exchange, Canada
  • Canadian Stock Market Reports, Canada
  • Canada Stockwatch, Canada
  • Mexican Stock Exchange, Mexico
  • AMEX, United States
  • New York Stock Exchange (NYSE),United States
  • NASDAQ, United States
  • The Arizona Stock Exchange, United States
  • Chicago Stock Exchange, United States
  • Chicago Board Options Exchange, United States
  • Chicago Board of Trade, United States
  • Chicago Mercantile Exchange, United States
  • Kansas City Board of Trade, United States
  • Minneapolis Grain Exchange, United States
  • Pacific Stock Exchange, United States
  • Philadelphia Stock Exchange, United States

Middle Eastern Stock Exchanges

  • Tel Aviv Stock Exchange, Israel
  • Amman Financial Market, Jordan
  • Beirut Stock Exchange, Lebanon
  • Palestine Securities Exchange, Palestine
  • Istanbul Stock Exhange, Turkey

European Stock Exchanges

  • Vienna Stock Exchange, Austria
  • EASDAQ, Belgium
  • Zagreb Stock Exchange, Croatia
  • Prague Stock Exchange, Czech Republic
  • Copenhagen Stock Exchange, Denmark
  • Helsinki Stock Exchange, Finland
  • Paris Stock Exchange, France
  • LesEchos: 30-minute delayed prices, France
  • NouveauMarche, France
  • MATIF, France
  • Frankfurt Stock Exchange, Germany
  • Athens Stock Exchange, Greece
  • Budapest Stock Exchange, Hungary
  • Italian Stock Exchange, Italy
  • National Stock Exchange of Lithuania,Lithuania
  • Macedonian Stock Exchange, Macedonia
  • Amsterdam Stock Exchange, The Netherlands
  • Oslo Stock Exchange, Norway
  • Warsaw Stock-Exchange, Poland
  • Lisbon Stock Exchange, Portugal
  • Bucharest Stock Exchange, Romania
  • Russian Securities Market News, Russia
  • Ljubljana Stock Exchange,Inc., Slovenia
  • Barcelona Stock Exchange, Spain
  • Madrid Stock Exchange, Spain
  • MEFF: (Spanish Financial Futures & Options Exchange), Spain
  • Stockholm Stock Exchange, Sweden
  • Swiss Exchange, Switzerland
  • Istanbul Stock Exhange, Turkey
  • FTSE International (London Stock Exchange), United Kingdom
  • London Stock Exchange: Daily Price Summary, United Kingdom
  • Electronic Share Information, UnitedKingdom
  • London Metal Exchange,United Kingdom
  • London InternationalFinancial Futures and Options Exchange, United Kingdom

African Stock Exchanges

  • GhanaStock Exchange, Ghana
  • Johannesburg Stock Exchange, South Africa
  • The South African Futures Exchange(SAFEX), South Africa

Asian Stock Exchanges

  • Sydney Futures Exchange, Australia
  • Australian Stock Exchanges, Australia
  • Shenzhen Stock Exchange, China
  • Stock Exchange of Hong Kong,Hong Kong
  • Hong Kong Futures Exchange,Hong Kong
  • National Stock Exchange of India,India
  • Bombay Stock Exchange, India
  • Jakarta Stock Exchange, Indonesia
  • Indonesia NET Exchange,Indonesia
  • Nagoya Stock Exchange,Japan
  • Osaka Securities Exchange, Japan
  • Tokyo Grain Exchange, Japan
  • Tokyo International Financial Futures Exchange (TIFFE), Japan
  • Tokyo Stock Exchange, Japan
  • Korea Stock Exchange, Korea
  • Kuala Lumpur Stock Exchange, Malaysia
  • New Zealand Stock Exchange, New Zealand
  • Karachi Stock Exchange, Pakistan
  • Lahore Stock Exchange, Pakistan
  • Stock Exchange of Singapore (SES), Singapore
  • Singapore International Monetary Exchange Ltd. (SIMEX), Singapore
  • Colombo Stock Exchange, Sri Lanka
  • Sri Lanka Stock Closings, Sri Lanka
  • Taiwan Stock Exchange, Taiwan
  • The Stock Exchange of Thailand, Thailand

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