Last Updated on 21 September, 2020 by Samuelsson
The first stock exchange was established in Amsterdam in 1602 to ensure that the public could trade the shares of the Dutch East India Company.
A stock exchange is a marketplace where investors buy and sell stocks, bonds, and other exchange-traded securities. There are over 60 major stock exchanges around the globe, with different market capitalizations and monthly trading volume.
Here are the 20 biggest stock exchanges in the world by market capitalization:
1. New York Stock Exchange
Located at Lower Manhattan, New York City, the New York Stock Exchange (NYSE) is the second oldest stock exchange in the United States, after the Philadelphia Stock Exchange. With a total market capitalization of about $30.1 trillion, as of February 2018, the NYSE is the largest stock exchange in America and the entire world. The average trading volume is in excess of $1.5 trillion per month.
As of October 2016, there were about 2400 stocks listed on the NYSE. Although it is currently owned by Intercontinental Exchange, the origin of the NYSE can be traced to the Buttonwood Agreement on the 17th of May, 1792.
NASDAQ was an acronym for the National Association of Securities Dealers Automated Quotations. It was founded on February 8, 1971, by the Financial Industry Regulatory Authority (FINRA), which was formerly known as the National Association of Securities Dealers (NASD). It was the first stock exchange to perform electronic quotations and trading.
There are about 3,500 stocks quoted on NASDAQ, and the market capitalization is about $10.9 trillion, making it the second-largest stock exchange in the world. The average trading volume per month is about $1.3 trillion. Normal trading hours are between 9:30 a.m. to 4:00 p.m. local time, during weekdays.
3. Japan Exchange Group
The Japan Exchange Group, Inc. is a Japanese financial services company created through the merger of the Tokyo Stock Exchange Group, Inc and the Osaka Securities Exchange. It is the largest stock exchange (by market capitalization) in Asia, and it’s headquartered at Kabutochō, Chūō, Tokyo, Japan.
As of March 2018, there were about 3,687 companies listed on the exchange, and the total market capitalization is about $5.7 trillion. The average trading volume per month is $481 billion. Each trading day, the market opens by 9:00 a.m. and closes by 3:00 p.m. local time, with an hour lunch break between 11:30 a.m. to 12:30 p.m.
4. Shanghai Stock Exchange
Located in the city of Shanghai, the Shanghai Stock Exchange is one of the two independently operated stock exchanges in the People’s Republic of China. It was founded on the 26th of November, 1990, and it is directly regulated by the China Securities Regulatory Commission (CSRC).
With its total market capitalization at about $5.5 trillion, it is the second-largest stock exchange in Asia and the fourth largest in the world. As of May 2015, the number of listed stocks on the exchange was more than a thousand companies, and the trading volume is more than $536 billion per month.
5. Hong Kong Stock Exchange
Also known as the Stock Exchange of Hong Kong (SEHK), the exchange is located in Central District, Hong Kong. It was founded about 128 years ago as the Association of Stockbrokers in Hong Kong but was renamed the Hong Kong Stock Exchange on February 21, 1914.
As of 2018, the Hong Kong Stock Exchange had 2,315 listed stocks with a total market capitalization of $3.9 trillion. The average trading volume is about $182 billion. It opens for trading by 9:30 a.m. and closes around 4:00 p.m., with an hour break between 12:00 and 1:00 p.m.
Euronext is an acronym for the European New Exchange Technology. It is headquartered at La Défense in Greater Paris and operates markets in the European Economic Area, including Amsterdam, Brussels, London, Lisbon, Dublin, Oslo, and Paris. The exchange was established on September 22, 2000.
It is the largest stock exchange in Europe and the sixth largest in the world. As of July 2019, the Euronext has about 1500 listed stocks with a combined market capitalization of $ 4.5 trillion. The average monthly volume is about $174 billion. Trading opens by 9:00 a.m. and closes by 5:30 p.m. local time.
7. London Stock Exchange Group
The London Stock Exchange Group is headquartered at Paternoster Square in London, United Kingdom. It was created in 2007 by the merger between the London Stock Exchange and the Milan-based Borsa Italiana. The London Stock Exchange itself was officially founded in 1801, but its origin can be traced to 1698.
As of April 2018, it has about 2483 listed stocks with a combined market capitalization of $4.5 trillion and the average monthly trading volume is $219 billion. Market hours are between 8:00 a.m. and 4:00 p.m. local time.
8. Shenzhen Stock Exchange
The Shenzhen Stock Exchange (SZSE) is located in the Futian district of Shenzhen, in the People’s Republic of China. It is the second independently operated stock exchange in mainland China. Trading started on the exchange on the 3rd of July 1991.
As of 2015, the number of listed stocks on the exchange is more than 1400, and the exchange’s combined market capitalization is currently in the region of $3.5 trillion. It opens for trading by 9:30 a.m. and closes by 3:00 p.m. local time. The average monthly volume is about $763 billion.
9. TMX Group
The TMX Group Limited is a Canada-based financial services company that operates exchanges for equity, fixed income, derivative, and energy markets. It operates the Toronto Stock Exchange (TSX), which caters for the major equity markets, and the TSX Venture Exchange (TSXV), which takes care of the public venture equity market.
With more than 1500 stocks listed on the TSX, the exchange has a combined market capitalization of about $2.9 trillion and a monthly trading average of $97 billion. It is open for trading between 9:30 a.m. and 4:00 p.m. local time during weekdays.
10. Bombay Stock Exchange
The Bombay Stock Exchange (BSE) is located at Dalal Street, in the Indian commercial city of Mumbai. Established on the 9th of July 1875, as the Native Share and Stock Brokers Association, the BSE is the oldest stock exchange in Asia. It initially operated the open outcry trading floor but switched to an electronic trading system in 1995.
With over 5,400 listed companies, the BSE has the highest number of listed stocks. As of March 2019, its combined market capitalization is about $2.2 trillion, and the average trading volume is $210 billion per month.
11. National Stock Exchange of India
Also located in the commercial city of Mumbai, the National Stock Exchange of India Limited (NSE) is another leading Indian stock exchange. It was established in 1992 to provide a modern, fully automated electronic trading system, and it was the first electronic exchange in the country.
The NSE has over 1950 listed companies, and its total market capitalization is about $2.2 trillion. The average trading volume is about $196 billion per month. Just like the BSE, it opens for trading by 9:15 a.m and closes by 3:30 p.m. local time.
12. Australian Securities Exchange
Headquartered in Sydney, the Australian Security Exchange (ASX) was created in December 2006 by the merger of the Australian Stock Exchange and Sydney Futures Exchange. It is owned by an Australian public company known as the Australian Securities Exchange Ltd or ASX Limited.
There are more than 2,250 stocks listed on the exchange, and as of May 2018, its combined market capitalization was about $1.5 trillion. The average trading volume is about $75 billion per month. Trading opens from 10:00 a.m. and lasts till 4:00 p.m. local time.
13. Deutsche Börse
Located in Frankfurt am Main, Germany, the Deutsche Börse Group or Deutsche Börse AG is a German marketplace organizer for the trading of shares and other securities. It was founded in 1993 as a joint-stock company that gives investors and corporations access to the global capital market. The group owns the Frankfurt Stock Exchange, Eurex, and Xetra.
As of December 2010, Deutsche Börse AG has over 765 listed companies with a combined market capitalization of $1.5 trillion, and its monthly trading average is about $140 billion. The stock exchange opens by 8:00 a.m. and closes by 5:30 p.m. local time.
14. SIX Swiss Exchange
Based in Zurich Switzerland, SIX Swiss Exchange (previously known as SWX Swiss Exchange) is the main stock exchange in Switzerland. It was founded in 1850 and offers trading in stocks, government bonds, and some derivative products. Its main stock index, the Swiss Market Index (SMI), consists of the 20 most significant and most liquid companies on the exchange.
There are about 264 stocks listed on the SIX Swiss Exchange, with a combined market capitalization of about $1.5 trillion. The average trading volume is about $77 billion per month. Trading open by 9:00 a.m. and closes by 5:30 p.m. local time.
15. Korea Exchange
The Korea Exchange (KRX) is the only securities exchange operator in South Korea. It was created on the 27th of January 2005 through the integration of the Korea Stock Exchange, Korea Futures Exchange, and KOSDAQ Stock Market. The exchange has an office for cash markets and market oversight in Seoul, but its headquarters is in Busan.
As of 2018, the Korea Exchange has over 2,000 listed companies and a combined market capitalization of $1.46 trillion. The exchange has normal trading sessions from 9:00 a.m. to 3:30 p.m. local time — Mondays to Fridays, except on holidays declared by the Exchange in advance.
16. NASDAQ OMX Nordic Exchanges
NASDAQ OMX Nordic Exchange is the common name for a group of subsidiaries of the Nasdaq, Inc. that operates marketplaces for securities in the Nordic and Baltic regions of Europe, including Denmark, Sweden, Finland, Estonia, Latvia, Lithuania, Iceland, and Armenia. The group was created in 2008 when Nasdaq, Inc. acquired the OMX AB.
As of June 2018, the number of listed stocks on the exchanges was over 1000, with a combined market capitalization of $1.37 trillion. The average trading volume is about $72 billion per month. Trading hours vary with each country.
17. Taiwan Stock Exchange
Located at Taipei, Taiwan, the Taiwan Stock Exchange Corporation (TWSE) was founded on the 23rd of October 1961 but started stock exchange operations on the 9th of February 1962. It aims to provide the most cost-efficient market in Asia, and it is regulated by the Financial Supervisory Commission of Taiwan.
The Taiwan Stock Exchange had around 890 listed companies, with a combined market capitalization of $966 billion as of November 2018. The average trading volume is about $75 billion per month. It has normal trading sessions from 9:00 a.m. to 1:30 p.m. local time — Mondays to Fridays, except on holidays declared by the exchange in advance.
18. B3 – Brasil Bolsa Balcão S.A.
Previously known as BM&F Bovespa, the B3 – Brasil Bolsa Balcão S.A. is a Brazilian stock exchange situated in São Paulo. It was founded in 1890, making it the second oldest in Brazil, after the Rio de Janeiro Stock Exchange, but it is the largest stock exchange in the country.
As of 2018, the exchange had around 370 listed companies, with a combined market capitalization of $938 billion and an average trading volume of about $62 billion per month. Trading opens by 9:00 a.m. and closes by 6:00 p.m. local time during weekdays.
19. JSE Limited
Founded about 132 years ago, the Johannesburg Stock Exchange Limited (JSE Limited) is the oldest and, by far, the largest stock exchange in Africa. It is located at the corner of Maude Street and Gwen Lane in Sandton, Johannesburg, South Africa.
There are around 400 listed stocks on the exchange, and its combined market capitalization is about $894 billion as of November 2018. The average trading volume is about $29 billion per month. Normal trading hours are between 9:00 a.m. and 5:00 p.m. during weekdays.
20. Bolsas y Mercados Españoles
The Bolsas y Mercados Españoles is a Spanish financial company that operates stock exchanges and financial markets in Madrid, Barcelona, Bilbao, and Valencia. It provides trading in stocks, bonds, and derivative products.
As of December 2016, there were about 3500 companies listed on the exchange. Its total market capitalization stands at $764 billion as of November 2018. The exchange has normal trading sessions from 9:00 a.m. to 5:30 p.m. local time, from Mondays to Fridays except on holidays declared by the exchange in advance.