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Stock Market Ancestor

13 September 2006 - Features - Editor

Do you know of a stock market which operated in the 18th century? Dublin in Ireland has the proud distinction of opening the doors of a stock exchange in an era when the world economy was in a primordial state. It has survived times of great strife with its head high. The Irish Stock Exchange offers a dull range of top quality services. It is known in global circles for diligent regulation that fosters trust. It is a fine example of the free market system of economic development, and has a pivotal role in the admirable growth of Ireland’s Gross National Product.

The stock market in Dublin operates as a professionally managed enterprise. It offers modern amenities such as electronic trading, and has a separate service for small and medium enterprises. Some 25 million shares of 75 listed companies with a turnover of about 150 million Euros are traded on a typical day on this progressive and forward looking stock market. The stock market has registered a trading growth of about 20% during the first half of 2006 over the corresponding period of the previous year.

Though Ireland has a long history of strife, it has emerged in recent times as a sort of model of how a nation can work for the prosperity of people at large. The stock market is an integral part of the country's development, with a number of exciting and well run members in its ranks. 99% of Ireland's population of 4 million is literate. The economy has grown at an impressive 7% per year in the decade ended 2004. The GDP exceeds $150 billion, which means that the average per capita income is higher than for the United States! Ireland has made impressive strides in high technology sectors such as pharmaceuticals, and almost half the GDP comes from the important services sector as well.

U.S. citizens of Irish origin are key symbols of the durable bonds between the two nations across the Atlantic, but the democratic and free enterprise values that both countries share make them natural allies in the world of business. The United States accounts for only 20% of exports from Ireland, and less than 15% of Ireland’s imports are from the U.S. These telling numbers bear testimony to the enormous scope for stock market members to list on each other's exchanges, and to strengthen and broaden business links.

 


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