Within a short period of time, Dubai Financial Market (DFM) has fast developed into the leading financial market across the region. Its ongoing efforts and strategic initiatives have further reinforced Dubai’s position as a dynamic capital markets hub. DFM has always played a pivotal role in developing the financial markets sector in the region through enormous innovations and electronic services utilizing the most advanced technology.
The global competition for capital is fierce and intensifying. Yet the information platform on which so much capital market activity is based has not been updated for over a generation. It is time for corporate reporting to step up to the plate, and become a partner, alongside businesses, stock exchanges and providers of financial capital, to help foster the conditions for investment, trade and job creation.
The WFE market segmentation survey has been conducted yearly since 2007. The 2012 study is available on the Federation’s website (http://world-exchanges.org/reports/studies-and-surveys). For each market segment (large-cap, mid-cap, small-cap and micro-cap), WFE members were asked to provide, the number of listed companies, the number of trades, the market capitalization and the value of Electronic Order Book share trading.
There is a broad literature on micro aspects of equity ownership, focusing especially on features such as the distribution of direct and indirect ownership of equities by household population quintiles or broken down according to socio-demographic characteristics of the population. This line of research is based on survey data produced by pollsters or official offices of statistics.
In the US, Swap Execution Facilities (SEFs) or SEFs are registering with authorities at a rapid clip. SEFs appear shiny and new and market commentators and the press report each new SEF registration with great fanfare. However, I believe SEFs are not really that new.
Moreover, for observers in the exchange space, SEFs may seem to be organized and operate similarly to exchanges. In fact, some SEFs also have licenses which allow them to operate essentially as exchanges. In some cases, they have even been referred to as exchanges. However, all SEFs cannot be called exchanges and some will operate very differently than exchanges going forward.
This month Kazakhstan Stock Exchange (KASE) is celebrating its 20th anniversary. Throughout 20-years of its history KASE evolved into the only licensed and regulated stock exchange in Kazakhstan with the following markets: foreign currency market, government securities market, market of shares and corporate bonds, bills and derivatives market.
The exchange opened for trading in May 1997, therefore we’re still a fairly young exchange. We are a fully electronic exchange, with a state of the art trading system (UTP) and a fully integrated central shareholders register. A significant part of the trading nowadays is conducted on-line. There are 42 companies listed, with a joint market capitalization of around $ 137 billion. Turnover in 2013 averaged at around $ 80 million a day.
HOSE is the leading stock market in Vietnam, currently accounting for 85% of total market capitalization. HOSE has attracted the most large-scale companies that represent the national economy.
Over the past 15 years the number of institutional investors that reported using Exchange Traded Funds (ETFs) or Exchange-Traded Products (ETPs) increased 2,086%, rising from 154 in 1997 to 3,367 institutions located in 50 countries in 2012 based on our recent analysis of regulatory filings and mutual fund holdings as collected by Thomson Reuters/Lipper and documented in our new report “ETFGI Institutional Users of ETFs and ETPs, 2012 Review”
Stock exchanges can play an important role in promoting corporate sustainability reporting. By incorporating sustainability disclosure requirements into their listing standards, stock exchanges can create a strong incentive for companies to measure and publicly disclose their sustainability performance to the market.