The New York Stock Exchange traces its origins to 1792, when 24 New York City stockbrokers and merchants signed the Buttonwood Agreement. This agreement set in motion the NYSE’s unwavering commitment to investors and issuers.
Now NYSE Euronext welcomes the historic American Stock Exchange into the world’s largest and most liquid exchange group.
Originally called the "curb market" because its brokers traded outdoors in the street, the Amex has been at the forefront of the U.S. financial markets over the course of two centuries.
Wednesday, November 25, 2009
KSE
Introduction
Vision
To be a leading financial institution, offering efficient, fair and transparent securities market in the region and enjoying full confidence of the investors.
KSE POSITIONED TO BE A HUB OFCAPITAL FORMATION IN THE REGION
Chairman South Asian Federation of Exchanges (SAFE)
Vice Chairmanship of the South Asian Federation of Exchanges (SAFE) - 2008
Member Federation of Euro-Asian Exchanges (FEAS)
Affiliate Member of the World Federation of Exchanges (WFE)
Affiliate Member of International Organization of Securities Commissions (IOSCO)
Agreements with other Exchanges
Dubai Financial Market
Abu Dhabi Securities Market
Shanghai Stock Exchange
Mission
To strive to provide quality and value-added services to the capital market in an efficient, transparent and orderly manner, compatible with international standards and best practices.
To provide state-of-the-art technology and automated trading operations, driven by a team of professionals in accordance with good corporate governance.
To protect and safeguard the interests of all its stakeholders, i.e. members, listed companies, employees and the investors at large.
To reflect the country’s economic health and behavior and play its role for the growth, development and prosperity of Pakistan.
OUR CUSTOMERS
Issuers (Listed Companies)
Brokers and Members
Investors
THE JOURNEY
OUR FUTURE SUCCESS WILL DEPEND ON THE QUALITY OF OUR HUMAN RESOURCES
A spirit of youthful energy, high intellect and superior skills characterizes our people.
Our workforce consists of a combination of youth and experience – perfectly suitable to the organization’s current requirement and future challenges.
KSE employs the best available human resource from the capital market and financial industry.
Candidates are selected based on their individual energy, quick thinking ability, confidence, decision making ability, integrity and professionalism – attributes that define the person’s compatibility with KSE culture.
The key to our long-term success is the creative genius of our people and their drive towards excellence.
Our employees are exposed to an organizational commitment to continuous personal and professional development.
Our people get involved in various initiatives ranging from management skills, development and personal improvement, to technology advancement and process enhancement.
On a regular basis, some of our best performers are selected for our Mentoring Program, where seasoned mentors groom their protégé towards positions of greater responsibility and influence.
Promoting a performance driven culture where ‘high performers’ are recognized for their exceptional contributions.
OUR TECHNOLOGY
Our Information Technology Group forms the Core of our Business Operations
Development, implementation and monitoring of state-of-the-art trading system known as Karachi Automated Trading System (KATS), introduced in 2002 with a capacity of 1 million trades a day and unlimited number of users.
Disaster Recovery Management and Business Continuity Programs database backups.
Software Development, Testing and Training.
Customer Services Support.
Caters to member’s complaints regarding computer network and trading systems.
Administration and Maintenance of servers and operating systems.
Partnerships with Microsoft, Oracle and Unisys for I.T. infrastructure.
Vision
To be a leading financial institution, offering efficient, fair and transparent securities market in the region and enjoying full confidence of the investors.
KSE POSITIONED TO BE A HUB OFCAPITAL FORMATION IN THE REGION
Chairman South Asian Federation of Exchanges (SAFE)
Vice Chairmanship of the South Asian Federation of Exchanges (SAFE) - 2008
Member Federation of Euro-Asian Exchanges (FEAS)
Affiliate Member of the World Federation of Exchanges (WFE)
Affiliate Member of International Organization of Securities Commissions (IOSCO)
Agreements with other Exchanges
Dubai Financial Market
Abu Dhabi Securities Market
Shanghai Stock Exchange
Mission
To strive to provide quality and value-added services to the capital market in an efficient, transparent and orderly manner, compatible with international standards and best practices.
To provide state-of-the-art technology and automated trading operations, driven by a team of professionals in accordance with good corporate governance.
To protect and safeguard the interests of all its stakeholders, i.e. members, listed companies, employees and the investors at large.
To reflect the country’s economic health and behavior and play its role for the growth, development and prosperity of Pakistan.
OUR CUSTOMERS
Issuers (Listed Companies)
Brokers and Members
Investors
THE JOURNEY
OUR FUTURE SUCCESS WILL DEPEND ON THE QUALITY OF OUR HUMAN RESOURCES
A spirit of youthful energy, high intellect and superior skills characterizes our people.
Our workforce consists of a combination of youth and experience – perfectly suitable to the organization’s current requirement and future challenges.
KSE employs the best available human resource from the capital market and financial industry.
Candidates are selected based on their individual energy, quick thinking ability, confidence, decision making ability, integrity and professionalism – attributes that define the person’s compatibility with KSE culture.
The key to our long-term success is the creative genius of our people and their drive towards excellence.
Our employees are exposed to an organizational commitment to continuous personal and professional development.
Our people get involved in various initiatives ranging from management skills, development and personal improvement, to technology advancement and process enhancement.
On a regular basis, some of our best performers are selected for our Mentoring Program, where seasoned mentors groom their protégé towards positions of greater responsibility and influence.
Promoting a performance driven culture where ‘high performers’ are recognized for their exceptional contributions.
OUR TECHNOLOGY
Our Information Technology Group forms the Core of our Business Operations
Development, implementation and monitoring of state-of-the-art trading system known as Karachi Automated Trading System (KATS), introduced in 2002 with a capacity of 1 million trades a day and unlimited number of users.
Disaster Recovery Management and Business Continuity Programs database backups.
Software Development, Testing and Training.
Customer Services Support.
Caters to member’s complaints regarding computer network and trading systems.
Administration and Maintenance of servers and operating systems.
Partnerships with Microsoft, Oracle and Unisys for I.T. infrastructure.
South Africa
The deregulation of the agricultural market in South Africa led to the establishment of a viable futures market. In early 1995 the Safex Agricultural Markets Division (AMD), with a start-up capital of R 4.2 million, listed its first commodity on the exchange- a physical settled beef contract. This was shortly followed with a potato contract. A limited number of 84 seats were issued. The new Marketing of Agricultural Products Act in South Africa has created an environment in which farmers, traders and processors are able to react positively to transparent prices which are market related. Agricultural futures and options are essentially a means of spreading risk and a source of obtaining price insurance.
Although the physically settled beef contract and the potato contract were delisted due to inactivity, the white and yellow maize contracts listed in 1996 resulted in an enormous growth in the volumes that have traded on the exchange. The maize industry in South Africa has benefited from the transparent prices generated in the futures market. Wheat has traded since November 1997 allowing this industry the opportunity to manage their price risk. A sunflower seeds contract was introduced in early 1999. The introduction of options contracts on all the above, has further advanced price risk management for all market participants.
South African producers have experienced a steep learning curve with regard to marketing their produce in a free market. The Safex Agricultural Products Division continues to actively market the use of the exchange through presentations directly to interested parties and the placement of advertisements to increase the exposure of the APD in the agricultural sector.
Growth continues to be most encouraging as the exchange trades on average 200 000 tons of maize a day and options on these are increasing daily. Over 1.8 million contracts have traded since 1995 with the bulk of the trades arising from the white maize contract. The percentage physical deliveries are on the decline, thereby indicating that the market is using the futures exchange as a hedging facility and not as a pure delivery mechanism. The use of the transferable Safex silo receipt has added to the efficient trading of the commodities to such a degree that many of the financial institutions have begun accepting it as collateral. As the market grows it will attract the interest of more and more banks, and others outside the agricultural sector.
The Safex Agricultural Products Division will continue to provide the entire Southern Africa with a highly cost efficient trading system where price risk can be managed to the optimal. The free market has created the correct environment for farmers and processors to use price risk management policies in their everyday management of their business.
In May 2001 Safex and JSE Securities Exchange members agreed to a buyout of Safex by the JSE. The Effective date of the was 6 August 2001. The JSE agreed to retain the Safex branding and moved the Agricultural Products business into a division within itself known as Safex Agricultural Products Division (APD).
Although the physically settled beef contract and the potato contract were delisted due to inactivity, the white and yellow maize contracts listed in 1996 resulted in an enormous growth in the volumes that have traded on the exchange. The maize industry in South Africa has benefited from the transparent prices generated in the futures market. Wheat has traded since November 1997 allowing this industry the opportunity to manage their price risk. A sunflower seeds contract was introduced in early 1999. The introduction of options contracts on all the above, has further advanced price risk management for all market participants.
South African producers have experienced a steep learning curve with regard to marketing their produce in a free market. The Safex Agricultural Products Division continues to actively market the use of the exchange through presentations directly to interested parties and the placement of advertisements to increase the exposure of the APD in the agricultural sector.
Growth continues to be most encouraging as the exchange trades on average 200 000 tons of maize a day and options on these are increasing daily. Over 1.8 million contracts have traded since 1995 with the bulk of the trades arising from the white maize contract. The percentage physical deliveries are on the decline, thereby indicating that the market is using the futures exchange as a hedging facility and not as a pure delivery mechanism. The use of the transferable Safex silo receipt has added to the efficient trading of the commodities to such a degree that many of the financial institutions have begun accepting it as collateral. As the market grows it will attract the interest of more and more banks, and others outside the agricultural sector.
The Safex Agricultural Products Division will continue to provide the entire Southern Africa with a highly cost efficient trading system where price risk can be managed to the optimal. The free market has created the correct environment for farmers and processors to use price risk management policies in their everyday management of their business.
In May 2001 Safex and JSE Securities Exchange members agreed to a buyout of Safex by the JSE. The Effective date of the was 6 August 2001. The JSE agreed to retain the Safex branding and moved the Agricultural Products business into a division within itself known as Safex Agricultural Products Division (APD).
FTSE
FTSE Group calculates over 120,000 indices covering more than 77 countries and all major asset classes.
We provide an evolving range of index products to help investors make more informed investment decisions with confidence.
We constantly strive to meet the changing needs of the market through innovative index design, and customized index solutions, and have been the partner of choice for many exchanges worldwide.
Our established index standards - encompassing independent committee governance, liquidity screening, free float adjustment and country classification, create clear transparent methodology and governance to ensure all our indices are investable and straightforward to track.
We provide an evolving range of index products to help investors make more informed investment decisions with confidence.
We constantly strive to meet the changing needs of the market through innovative index design, and customized index solutions, and have been the partner of choice for many exchanges worldwide.
Our established index standards - encompassing independent committee governance, liquidity screening, free float adjustment and country classification, create clear transparent methodology and governance to ensure all our indices are investable and straightforward to track.
Swiss Exchange
Milestones
The SIX Swiss Exchange goes back more than 150 years. In 1996, fully electronic trading replaced the traditional floor trading system at the stock exchanges of Geneva (founded in 1850), Zurich (1873) and Basle (1876).
The recent history of the SIX Swiss Exchange is marked by the following highlights:
2009
The SIX Swiss Exchange goes back more than 150 years. In 1996, fully electronic trading replaced the traditional floor trading system at the stock exchanges of Geneva (founded in 1850), Zurich (1873) and Basle (1876).
The recent history of the SIX Swiss Exchange is marked by the following highlights:
2009
- Trading in the 32 Swiss blue chip stocks (i.e. the shares included in the Swiss Market Index and Swiss Leader Index), which today is operated on SWX Europe in London, will be relocated to SIX Swiss Exchange in Zurich by mid 2009. This measure will simplify the regulation and compliance for issuers, market participants and SIX Swiss Exchange itself.
- SIX Swiss Exchange launches SWXess, the sucessor to its previous trading platform, offering substancially increased capacity, lower latency and a tailor-made connectivity service for member banks.
2008
- SIX Swiss Exchange launches a new information portal in November. The website are geared also to private investors.
- In October 2008 SIX Swiss Exchange and SWX Europe cut trading fees by a massive 30%.
- SWX Swiss Block, the non-displayed liquidity service and first "Dark Pool" in Europe, was established by SWX Europe, SWX Group's London based exchange.
- The SMI® stock exchange barometer celebrated its 20th year of existence. The Swiss Market Index (SMI®) was published for the first time on 30 June 1988 at an initial level of 1500 points.
- In April SIX Swiss Exchange and SWX Europeintroduced a new simplified and transparent tariff model and a fee cut of 15%
- In January 2008, the three Swiss financial market infrastructure providers SWX Group, SIS Group and Telekurs Group merged to become Swiss Financial Market Services AG. In
- August 2008, the new company was rebranded SIX Group.
2007
- Scoach Switzerland Ltd, the exchange for securitised derivatives, commences operation
- Introduction of a Central Counterparty (CCP) for SWX Swiss Exchange
2006
- SWX Group and Deutsche Börse found SWX Quotematch AG exchange
- Turnover hits new all-time high
- Prof. Dr. Gomez succeeds Dr. Reto Francioni as Chairman of the Board
2005
- Quotematch: launch of a new high-performance system for trading in securitised derivatives
- First listing of an international bond under the SWX's new additional rules
- "EU-compatible" listing segment for Swiss blue chips
- Sponsored Segment at the SWX Swiss Exchange
- VSMI® - Volatility Index on the SMI®
- Acquisition of Bremer Wertpapierbörse
2004
- Introduction of the SXI® Family. This family of indices offers domestic and foreign companies a venue for industry- and size-specific sectors
- The SWX Swiss Exchange launches the indices SMIM® and the SMI Expanded®
- New regulations for disclosure of management transactions on SWX Swiss Exchange
2003
- virt-x is fully taken over by the SWX Swiss Exchange
- Agreement with Eurex is extended by 10 years
- Publication of sanctions imposed by the Executive Committee of the Admission Board on the SWX Swiss Exchange website
2002
- ETFs, previously only traded on the SWX Platform, are also admitted to trading on virt-x
- The SWX Swiss Exchange changes its legal status from an association to a joint-stock company
- Dr. Reto Francioni replaces Dr. Jörg Fischer as chairman of the Board
- The Directive on Corporate Governance enters into force
- Introduction of Internet Based Listing (IBL)
2001
- The SWX Group (SWX Swiss Exchange, Eurex, virt-x, STOXX, EXFEED) is established
- Launch of the virt-x blue-chip exchange on 25 June
- Launch of EXFEED, the European provider of raw financial data, on 25 June
- Introduction of TIF
- Introduction of the SIX Swiss Exchange Local Caps and Real Estate Companies segments
2000
- Launch of SNMI, the SWX New Market Index
- The SWX Swiss Exchange and Tradepoint enter into exclusive negotiations on cooperation
- Trading in SWX Eurobonds denominated in GBP and JPY
- virt-x project for the first pan-European blue-chip exchange is unveiled to the public.
- Cooperation agreements are signed
- Existing SPI sector breakdown is supplemented with an industry group classification like that of the Dow Jones STOXX indices
- SWX Repo is integrated into Eurex
- Maximum number of SMI stocks is increased from 25 to 30
- New SWX organisational structure: a Group management is created to coordinate the activities and strategy of the SWX Swiss Exchange and its associated companies
- Launch of the ETF segment
- Record turnover of CHF 1,324,512 million
- 28 IPOs
1999
- Admission of participants from Germany, the United Kingdom and France
- First foreign branch abroad is opened in London
- Inauguration of SWX Repo, the world's first fully integrated, electronic repo trading platform
- Start of the SWX New Market segment for growth companies
- EUR-denominated bonds first traded on SWX Eurobonds
- Eurex is the world's largest options and futures exchange
- Introduction of the name "SWX Swiss Exchange"
1998
- Merger of the Swiss and German derivatives markets (SOFFEX and DTB) to form Eurex, the first transnational derivatives exchange
- Foundation of STOXX Limited, a joint venture of SWX, Deutsche Börse AG and Dow Jones & Company
- SWX, Deutsche Börse AG, ParisBourseSBF and Dow Jones & Company launch DJ STOXX Indices, the European index family for equities
- Trading starts in SWX Eurobonds in USD-denominated bonds
- The Investment Companies segment is introduced
- 17 IPOs
- The Disclosure Office commences operations
- The Investment Companies segment is introduced
1997
- A record year: the SMI rises by 59 %
- 1,000 new securities are listed
- 12 IPOs; turnover tops CHF 1,000 billion
- SESTA enters into effect
1996
- Electronic trading in Swiss equities and options is introduced on 2 August, that in bonds on 16 August; floor trading is discontinued
- Inauguration of the fully automated trading, clearing and settlement system
- Considerable increase in liquidity
- The bid/ask spreads for blue chips narrow from 0.2 to 0.15 percentage points
- Ad hoc publicity is introduced
1995
- Switzerland's three stock exchanges in Geneva, Basle and Zurich are merged to form the SWX
- Electronic trading in foreign equities is introduced on 8 December
- SESTA is adopted by the Federal Assembly of the Swiss Confederation
NYSE Euronex
NYSE Euronext, the holding company created by the combination of NYSE Group, Inc. and Euronext N.V., was launched on April 4, 2007. NYSE Euronext (NYSE/New York and Euronext/Paris: NYX) operates the world ' s largest and most liquid exchange group and offers the most diverse array of financial products and services. NYSE Euronext, which brings together six cash equities exchanges in seven countries and eight derivatives exchanges, is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data.
Kansas City Board of Trade
A Century of Tradition
When the original members of the Kansas City Board of Trade met on the banks of the Missouri River to develop a more organized method of buying and selling grain they could not have foreseen the far-reaching impact of their vision.
More than a century later, more than 10 billion bushels of wheat would change hands on the exchange in one year, and grain producers and users around the globe would look to Kansas City for the fair price of hard red winter wheat, the primary ingredient in the world's bread.
Over time, the exchange's leadership would extend into other markets. Indeed, it was at the Kansas City Board of Trade that stock index futures, hailed as the most innovative financial instrument of the 1980s, were born.
The Kansas City Board of Trade was founded in 1856 by a group of Kansas City merchants. It served a function similar to a Chamber of Commerce. The Kansas City Board of Trade was formally chartered in 1876. Located on the northern border between Kansas and Missouri and the junction of two rivers, Kansas City is situated in one of the most productive wheat-growing regions of the world.
Early trading at the exchange was primarily in cash grains. Today, grain elevators, exporters, millers and producers use the exchange to protect their cash positions by buying or selling futures and options. Stock market investors also utilize KCBT products. Nonetheless, cash grain trading is still the core business of many of KCBT's members.Throughout its development, the Kansas City Board of Trade has prided itself on its Midwestern heritage. Integrity and service are the cornerstones upon which the Board of Trade was founded, and they remain as important today as then.
When the original members of the Kansas City Board of Trade met on the banks of the Missouri River to develop a more organized method of buying and selling grain they could not have foreseen the far-reaching impact of their vision.
More than a century later, more than 10 billion bushels of wheat would change hands on the exchange in one year, and grain producers and users around the globe would look to Kansas City for the fair price of hard red winter wheat, the primary ingredient in the world's bread.
Over time, the exchange's leadership would extend into other markets. Indeed, it was at the Kansas City Board of Trade that stock index futures, hailed as the most innovative financial instrument of the 1980s, were born.
The Kansas City Board of Trade was founded in 1856 by a group of Kansas City merchants. It served a function similar to a Chamber of Commerce. The Kansas City Board of Trade was formally chartered in 1876. Located on the northern border between Kansas and Missouri and the junction of two rivers, Kansas City is situated in one of the most productive wheat-growing regions of the world.
Early trading at the exchange was primarily in cash grains. Today, grain elevators, exporters, millers and producers use the exchange to protect their cash positions by buying or selling futures and options. Stock market investors also utilize KCBT products. Nonetheless, cash grain trading is still the core business of many of KCBT's members.Throughout its development, the Kansas City Board of Trade has prided itself on its Midwestern heritage. Integrity and service are the cornerstones upon which the Board of Trade was founded, and they remain as important today as then.
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