New York: NYSE Euronext—the world’s leading stock exchange—is home to at least 100 companies from the fast growing Bric economies, which is the highest for any bourse in the world.
In a regulatory filing here about its proposed merger with the American Stock Exchange, NYSE Euronext said it is well-positioned among the emerging growth countries—Brazil, Russia, India and China—which are together known as Bric nations.
“We are listing more companies from these fast growing markets and have a larger combined market capitalization than any other exchange group in the world,” NYSE Euronext said.
Market capitalization, or m-cap, is the number of shares available for trade multiplied by the price.
As of 31 December 2007, NYSE Euronext had 100 listed companies from Bric countries with a combined m-cap of $2,982 billion (Rs119 trillion), compared with 43 such companies with a combined value of $791 billion on the London Stock Exchange.
There are 79 companies on Nasdaq from the Bric region with a combined market capitalization of $106 billion, two on the Deutsche Boerse with a value of $0.85 billion, and one on the Tokyo Stock Exchange with $0.60 billion m-cap.
The aggregate market capitalization for listed operating companies on NYSE Euronext was $30.4 trillion as on 31 December 2007, which is greater than that of the next four largest exchanges combined, including the London Stock Exchange main market ($10.3 trillion), the Tokyo Stock Exchange ($6.2 trillion), Nasdaq ($5 trillion), and the Swiss Exchange ($4.9 trillion).
NYSE Euronext also said that it was ahead in terms of capital raising through initial public offerings (IPO). The bourse provided access to companies to raise more than $80.5 billion in IPO, compared with $46.2 billion mopped up by firms on the London Stock Exchange, the filing said.
The exchange is better placed in terms of international listings as compared with the other leading exchanges in the world. It had 42 international listings in 2007, including 20 from China.
“The growth of international listings is driven primarily by emerging markets such as China, India and Latin America, with a steady component from developed markets such as Canada,” NYSE Euronext said in the filing.
NYSE Euronext also offers issuers the ability to cross-list on the US and European exchanges, and to trade and raise capital in both dollars and euros, two of the world’s leading currencies.