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12 min read•Last updated: January 2025

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What is a Stock Exchange?

A stock exchange is a regulated marketplace where securities like stocks, bonds, and other financial instruments are bought and sold. Exchanges provide the infrastructure, rules, and oversight necessary for fair and orderly trading.
Exchange Functions
  • Facilitate price discovery
  • Ensure fair and orderly trading
  • Provide market liquidity
  • Enforce trading regulations
Trading Mechanisms
  • Electronic order matching
  • Market makers and specialists
  • Auction-based price setting
  • Real-time settlement systems

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Major US Stock Exchanges

NYSEThe Big Board
Founded
1792
Market Cap
$26+ Trillion
Listed Companies
2,400+
Trading Hours
9:30 AM - 4:00 PM ET
Notable Features:
Largest stock exchange globally
Home to blue-chip stocks (IBM, Coca-Cola)
Hybrid trading (floor + electronic)
Strict listing requirements
Major Indices:
Dow Jones Industrial Average (DJIA), S&P 500
NASDAQTech-Heavy Exchange
Founded
1971
Market Cap
$20+ Trillion
Listed Companies
3,500+
Trading Hours
9:30 AM - 4:00 PM ET
Notable Features:
First electronic stock exchange
Tech giants (Apple, Microsoft, Google)
Fully electronic trading
Lower listing requirements
Major Indices:
NASDAQ Composite, NASDAQ-100, QQQ ETF

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Vietnam Stock Exchanges

HCM Stock ExchangeVietnam’s Largest Exchange
Established
2000
Market Cap
$180B+
Listed Companies
400+
Main Index
VN-Index
Notable Features:
Large-cap stocks (Blue chips)
Banking, real estate, manufacturing
T+2 settlement cycle
Hanoi Stock ExchangeSmall & Mid-Cap Focus
Established
2005
Market Cap
$20B+
Listed Companies
400+
Main Index
HNX-Index
Notable Features:
Small to mid-cap stocks
Government bonds trading
UPCoM market for unlisted companies

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Other Major Global Exchanges

🇬🇧
London Stock Exchange
Market Cap:$4.0T
Companies:2,000+
Index:FTSE 100
🇯🇵
Tokyo Stock Exchange
Market Cap:$5.4T
Companies:3,800+
Index:Nikkei 225
🇨🇳
Shanghai Stock Exchange
Market Cap:$6.9T
Companies:2,000+
Index:SSE Composite
🇩🇪
Frankfurt Stock Exchange
Market Cap:$2.3T
Companies:700+
Index:DAX 40
🇰🇷
Korea Exchange
Market Cap:$2.2T
Companies:2,600+
Index:KOSPI
🇮🇳
Bombay Stock Exchange
Market Cap:$4.3T
Companies:5,500+
Index:Sensex
Understanding different exchanges helps you diversify globally and take advantage of different market opportunities. Each exchange has unique characteristics, trading hours, and investment options that can complement your portfolio strategy.