Hong Kong Stock Exchange (HKSE)

HKSE about | HKSE profile | HKSE history

About the Hong Kong Stock Exchange :

Although the trade of securities began in the middle of the 19th c., Hong Kong Stock Exchange was established at the end of the century. Today with its total securities market capitalization of a record sum of HK$ 8,260.3 billion (US$ 1,063.9 trillion), the HKSE ranks 8th place by market capitalization in the world.

The HKSE has 4338 stocks listed on the exchange with the market turnover of HK$4,520.4 billion (US$ 0,582.2 trillion) in 2005. The turnover increased by 14% from the previous year. Local institutional and retail investors are the main contributors of market turnover (56%). The exchange also has a leading derivatives market in the Asia-Pacific region with the daily turnover of 103.332 contracts per day that has increased by even 30% from 2004.

In 2000, the Stock Exchange of Hong Kong Limited, Hong Kong Futures Exchange Limited together with Hong Kong Securities Clearing Company Limited merged under a single exchange HKEx. HKEx listed its shares on the stock exchange in June 2000.

The trading system of the Exchange is an order-driven system. HKEx securities market operates on two trading platforms - the Main Board and the Growth Enterprise Market (GEM). Each trading platform has a different set of requirements. The Main Board is the market for capital growth by established companies that meet profit requirements. Meanwhile, the Growth Enterprise Market provides a fund raising venue for 'high growth, high risk' companies. It promotes the development of technology industries and venture capital investments.

In October 2000, HKEx developed a trading system AMS/3 consisting of four components - Trading Terminal, Multi-Workstation System ('MWS'), Broker Supplied System ('BSS'), and Order Routing System ('ORS') that investors can choose among. The ORS allows investors to place requests electronically. In addition to trading through terminals in the Trading Hall, exchange participants are enabled to trade from their offices through installed off-floor terminals.

The HKSE has the leading index the Hang Seng for shares traded on the Hong Kong Stock Exchange that was introduced in 1969. The Hang Seng index consisting of the 33 largest companies traded on the exchange represent around 70% of the value of all stocks traded on the HKSE.

Shanghai Stock Exchange (SSE)

SSE about | SSE profile | SSE history

About the Shanghai Stock Exchange :

The Shanghai Stock Exchange can stake a claim to fame to being both the first and largest stock exchange on mainland China. The exchange has a total of eight hundred and seventy-eight listed companies. The main indices used on the exchange are:

• SSE 50 index

• SSE 180 Index

• SSE Composite Inde

• SHSE- SZSE 300 Index.

The Shanghai Stock Exchange works as a non profit institution administered by the China Securities Regulatory Commission. The exchange lists two different kinds of stocks: A and B shares. The difference between the two stocks is the currency that they are traded in. The A shares is traded in the local Renminbi yuan currency, whereas the B shares are traded in U.S. dollars. Traditionally A shares were only traded within the country, but now both A and B shares may be traded world wide. The majority of the stocks listed on the exchange are A shares. There are eight hundred twenty-four A shares and fifty-four B shares listed on the market

London Stock Exchange (LSE)

LSE about | LSE profile | LSE history | LSE companies

About the London Stock Exchange :

The London Stock Exchange is the most important exchange in Europe and one of the largest in the world. It lists over 3,000 companies and with 350 of the companies coming from 50 different countries, the LSE is the most international of all exchanges.

The London Stock Exchange is comprised of two different stock markets: the Main Market and the Alternative Investment Market (AIM). The Main Market is solely for established companies with high performance, and the listing requirements are strict. Approximately 1,800 of the LSE's company listings trade on the Main Market, and the total market capitalization is over 3,500 billion. The Alternative Investment Market on the other hand trades small-caps, or new enterprises with high growth potential. Over 1,060 companies list on this market, with a total capitalization of 37 billion.

The LSE is completely electronic, but different shares are traded on different systems. Highly liquid shares are traded using the SETS automated system on an order driven basis. This means that when a buy and sell price match, an order is automatically executed. For securities that trade less regularly, the London Stock Exchange implements the SEAQ system, where market makers keep the shares liquid. These market makers are required to hold shares of a specific company and set the bid and ask prices, ensuring that there is always a market for the stock.

The LSE also has a new and growing exchange for equity derivatives called EDX London, created in 2003. In 2004, EDX traded an average of 382,599 contracts per day. Its aim is to become the leading derivatives market in the world.

nasdaq stock exchange

NASDAQ

NASDAQ about | NASDAQ profile | NASDAQ history | NASDAQ companies

About the NASDAQ :

The NASDAQ, an acronym for National Association of Securities Dealers Automated Quotations, is an electronic stock exchange with 3,300 company listings. It currently has a greater trading volume than any other U.S. exchange, making approximately 1.8 billion trades per day. The NYSE is still considered the biggest exchange because its market capitalisation far exceeds that of the NASDAQ. The NASDAQ trades shares in a variety of companies, but is well known for being a high-tech exchange, trading many new, high growth, and volatile stocks. This is partially due to the fact that the listing fees on the NASDAQ are significantly lower than those for the NYSE, with the maximum price only $150,000. The NASDAQ is a publicly owned company, trading its shares on its own exchange under the ticker symbol NDAQ.

The NASDAQ, as an electronic exchange, has no physical trading floor, but makes all its trades through a computer and telecommunications system. The exchange is a dealers' market, meaning brokers buy and sell stocks through a market maker rather than from each other. A market maker deals in a particular stock and holds a certain number of stocks on his own books so that when a broker wants to purchase shares, he can purchase them directly from the market maker.

Since there is no trading floor where the NASDAQ operates, the stock exchange built the NASDAQ MarketSite in New York's Times Square to create a physical presence. The tower has a large outdoor electronic display, giving current financial information 24 hours a day. The company also has a studio here where it broadcasts financial market updates.

For a stock to be listed on the NASDAQ National Market, the company must meet certain strict financial criteria. For example, they must maintain a stock price of at least $1, and the total value of outstanding stocks must be at least $1.1 million. However the NASDAQ also has a market for smaller companies unable to meet these and other requirements, called the NASDAQ Small Caps Market. NASDAQ will move companies from one market to the other as their eligibility changes

american stock exchange

American Stock Exchange (AMEX)

AMEX about | AMEX profile | AMEX history | AMEX companies

About the American Stock Exchange :

The American Stock Exchange is the third largest stock exchange in the U.S. after the NYSE and the NASDAQ, handling approximately 10% of American trades. The American Stock Exchange lists companies from all different industries and of all different sizes. However, the exchange is known as having the least strict listing requirements among the three top American exchanges, which results in many small companies joining the exchange. Once a major competitor of the NYSE, the American Stock Exchange is now mostly known for trading in small cap stocks, options, and exchange traded funds. The exchange is owned by NASD (National Association of Securities Dealers), but operated as a separate exchange from the NASDAQ.

As an auction market, the AMEX conducts its business on a trading floor through brokers and specialists. Each security traded on the exchange is handled by a specialist, whose job it is to bring buyers and sellers together, and ensure that a fair market price is obtained for both parties. It is also a specialist's job to ensure that a market remains liquid, by buying or selling from their own account if no one else will. Brokers move around the floor, bringing buy and sell orders to the different specialists on behalf of their clients.

The AMEX options exchange is one of the largest in the world, with over 1,700 options traded on stocks, American Depository Receipts, indexes, exchange traded funds, and HOLDRS. In addition, the AMEX has an extensive market for exchange traded funds as they were the first to trade in this market. The AMEX has a listing of over 140 ETFs on general stock markets, industries, corporate bond indexes and more.

stock exchange

Stock Exchanges

The history of stock exchanges can be traced to 12th century France, when the first brokers are believed to have developed, trading in debt and government securities. Unofficial share markets existed across Europe through the 1600s, where brokers would meet outside or in coffee houses to make trades. The Amsterdam Stock Exchange, created in 1602, became the first official stock exchange when it began trading shares of the Dutch East India Company. These were the first company shares ever issued.

By the early 1700s there were fully operational stock exchanges in France and England, and America followed in the later part of the century. Share exchanges became an important way for companies to raise capital for investment, while also offering investors the opportunity to share in company profits. The early days of the stock exchange experienced many scandals and share crashes, as there was little to no regulation and almost anyone was allowed to participate in the exchange.

Today, stock exchanges operate around the world, and they have become highly regulated institutions. Investors wanting to buy and sell shares must do so through a share broker, who pays to own a seat on the exchange. Companies with shares traded on an exchange are said to be 'listed' and they must meet specific criteria, which varies across exchanges. Most stock exchanges began as floor exchanges, where traders made deals face-to-face. The largest stock exchange in the world, the New York Stock Exchange, continues to operate this way, but most of the world's exchanges have now become fully electronic.

If any of the information stated here or in any of the exchange descriptions is believed to be incorrect, please email ADVFN and any necessary corrections will be made

history of islamabad stock exchange

Islamabad Stock Exchange owes its origin to the dynamic group of leading businessmen and professionals of Islamabad/Rawalpindi region who conceived the idea of the establishment of the third bourse in the country so as to provide new investment avenues to the people of the northern region of Pakistan. Over the years, the founders' vision for bringing of vital element of competition to the securities market place has enabled the ISE to become known for the highest standard of transparency in its operations and excellent risk management. Today, the ISE has also been recognized for its dynamic market technology, lowest overall costs of listing and an unparallel market discipline. History>>Founder Members Back to History Founder Members Mr. Amanullah Khan Mr. Tariq Iqbal Khan Mr. Amanullah Khan actively participated in the developmental plan of the Islamabad Stock Exchange. A retired military officer, who later served as the First president of the Exchange during the period from 1989-1994. During this tumultuous period, Mr. Khan played instrumental role in promotion of ISE and the spread of investment habits in local populace of the region Mr. Tariq Iqbal Khan is a Chartered Accountant by profession, who has been one of the principal members to conceive and implement the project of Islamabad Stock Exchange. Mr. Khan also has the distinction of leading the ISE as vice president (1989-93) and then as the president of the ISE Board from 1995-97. Mr. Tariq Khan is presently serving as the chairman and Managing Director of NIT. He also serves on the Boards of many corporate entities in Pakistan. Mian Parvez Aslam Mr. Mian Habibullah Khan Mian Parvez Aslam has been one of the dynamic forces in the Islamabad Stock Exchange and continues to exercise leadership through his involvement in making the ISE as one of the most vibrant and transparent Stock exchanges in the country. Mian Parvez Aslam is also very active in many social and local political issues of the region. Mian Parvez has also been one of the former presidents of Rawalpindi Chamber of Commerce and Industry. Mr. Mian Habibullah Khan is a renowned businessman of the country , who made significant contribution in the start of the ISE. Mr. Habibullah has been a former chairman of the Export Promotion Bureau of the Govt. of Pakistan and represents many business/trade bodies of the country. Mr. Mian Habibullah Khan also served as the Honorary Council General of Republic of Cyprus in Pakistan. Mr. Muhammad Haji Yaqoob (late) Mr. Khalid Waheed (Late) Mr. Muhammad Haji Yaqoob (late) had been an active participant of the core group of personalities involved in the setting up of the Islamabad Stock Exchange. A hotelier by profession, who made significant contributions towards the promotion of trade and industry in the Northern region of Pakistan. Mr Mahammad Haji Yaqoob also served as the Treasurer of the ISE during the initial period of five years from 1989 to 1994. Mr. Khalid Waheed had been a leading entrepreneur and a successful business personality of the country. who greatly transformed his family enterprise ' M/S Ferozsons Laboratories Ltd' into one of the best pharmaceutal company of pakistan he had the honor of being youngest president of the Federation of Pakistan Chamber of Commerce and Industry during 1967. Mr. Khalid Waheed was also nominated, to head the Pakistan Tourism Development Corporation by the GOP. Mr. Ferozuddin A. Cassim Mr. Sheikh Muhammad Shabbir Mr. Ferozuddin A. Cassim is one of the prominent brokers of the country who has the honor of being elected as the president and the chairman of KSE during 1986-1987 and 2003 respectively. Mr. Cassim has continued to provide valuable support to the ISE from its very inception to the present day. His diverse experience in the corporate and securities markets makes him a leading proponent of reforms in the capital market of the country. Sheikh Muhammad Shabbir is a prominent business personality of the region who is also a founder member of Islamabad Stock Exchange. Sheikh Sahib has held of the business association such as the President of Rawalpindi Chambers of Commerce and industry (1995-97) and vice Prisedent of Islamabad Stock Exchange (1993-94). Mr. S. M. Hassan Mr. S.M. Hassan made valuable contributions in the formation of the Islamabad Stock Exchange. He is a senior member of the Rawalpindi Chamber of Commerce and Industry and a well-known business personality of the region with multiple business interests.