With a few exceptions, the days of open outcry on trading floors may be over, but Stock Market Exchanges continue to play an integral role in global capitalism. Competition between Exchanges is becoming an increasingly interesting phenomenon, and with modern technology making the world into a global village, competition has no geographical borders.
The first century of stock market operations saw Exchanges as entirely national institutions. 20th century operators did leverage differences in time zones, and indeed this is still the case. However, international acquisitions are a recent development with global impact. How will governments respond to challenges from a stock market which is controlled and owned by citizens of another country? Economists responsible for national financial policies have traditionally been most responsive to movements of stock market indices, but will they be silent spectators to such influences from abroad?
Emerging countries focus on new Exchanges as a means of economic development. India, a denizen of socialism for much of the latter half of the 20th century, now actively spurs the growth of its newfound stock market culture. Other countries also look to the stock market structure to provide new jobs and to yield vast taxation revenues.
At Stockmarkets.com, we have chosen a combination of old and new Exchanges for description on our pages on this part of our website. The most sound and exciting companies in the world are members of these Exchanges. With the global financial crisis being center of attention through 2009, many changes have come about. However, those who have weathered the storm have high ambitions and their actions and choice can have a world-wide impact. We plan to add to the list of Exchanges on which we report, so do bookmark our website and come and have a look as often as you like. We would be interested to hear from you as well!