The New York Stock Exchange (NYSE) is the largest stock exchange in the world, with an equity market capitalization of almost ** trillion U.S. dollars as of June 2025. The following three exchanges were the NASDAQ, PINK Exchange, and the Frankfurt Exchange. What is a stock exchange? A stock exchange is a marketplace where stockbrokers, traders, buyers, and sellers can trade in equities products. The largest exchanges have thousands of listed companies. These companies sell shares of their business, giving the general public the opportunity to invest in them. The oldest stock exchange worldwide is the Frankfurt Stock Exchange, founded in the late sixteenth century. Other functions of a stock exchange Since these are publicly traded companies, every firm listed on a stock exchange has had an initial public offering (IPO). The largest IPOs can raise billions of dollars in equity for the firm involved. Related to stock exchanges are derivatives exchanges, where stock options, futures contracts, and other derivatives can be traded.

Key information about China Market Capitalization

• China Market Capitalization accounted for 11,870.548 USD bn in Feb 2025, compared with a percentage of 11,513.605 USD bn in the previous month
• China Market Capitalization is updated monthly, available from Jul 1995 to Feb 2025
• The data reached an all-time high of 14,375.423 USD bn in Dec 2021 and a record low of 40.601 USD bn in Jan 1996

CEIC calculates monthly Market Capitalization as the sum of Market Capitalization of Shanghai Stock Exchange and Market Capitalization of Shenzhen Stock Exchange and converts it into USD. Shanghai Stock Exchange and Shenzhen Stock Exchange provides Market Capitalization in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions.

Key information about Vietnam Market Capitalization

• Vietnam Market Capitalization accounted for 220.052 USD bn in Feb 2025, compared with a percentage of 216.705 USD bn in the previous month
• Vietnam Market Capitalization is updated monthly, available from Jan 2010 to Feb 2025
• The data reached an all-time high of 255.722 USD bn in Mar 2022 and a record low of 21.787 USD bn in Dec 2011

CEIC converts monthly Market Capitalization into USD. Ho Chi Minh Stock Exchange provides Market Capitalization in local currency. The State Bank of Vietnam period end market exchange rate is used for currency conversions. Market Capitalization covers Ho Chi Minh Stock Exchange only, which is the main stock market in Vietnam.

In 2025, stock markets in the United States accounted for roughly ** percent of world stocks. The next largest country by stock market share was China, followed by the European Union as a whole. The New York Stock Exchange (NYSE) and the NASDAQ are the largest stock exchange operators worldwide. What is a stock exchange? The first modern publicly traded company was the Dutch East Industry Company, which sold shares to the general public to fund expeditions to Asia. Since then, groups of companies have formed exchanges in which brokers and dealers can come together and make transactions in one space. Stock market indices group companies trading on a given exchange, giving an idea of how they evolve in real time. Appeal of stock ownership Over half of adults in the United States are investing money in the stock market. Stocks are an attractive investment because the possible return is higher than offered by other financial instruments.

Switzerland Market Capitalization: SIX Swiss Exchange: Swiss Market Index data was reported at 1,320,846.559 CHF mn in Mar 2025. This records a decrease from the previous number of 1,367,422.422 CHF mn for Feb 2025. Switzerland Market Capitalization: SIX Swiss Exchange: Swiss Market Index data is updated monthly, averaging 937,484.805 CHF mn from Jan 2000 (Median) to Mar 2025, with 303 observations. The data reached an all-time high of 1,367,422.422 CHF mn in Feb 2025 and a record low of 506,981.729 CHF mn in Mar 2003. Switzerland Market Capitalization: SIX Swiss Exchange: Swiss Market Index data remains active status in CEIC and is reported by SIX Swiss Exchange. The data is categorized under Global Database’s Switzerland – Table CH.Z002: SIX Swiss Exchange: Market Capitalization. [COVID-19-IMPACT]

The NYSE World Leaders Index tracks the performance of the 100 largest U.S. domiciled stocks and the 100 largest non-U.S. domiciled stocks that are listed on the New York Stock Exchange by market capitalization. The value of the index amounted to 13,153.85 at the end of February 2025, which was the highest index point observed since September 2013.

As of Janaury 2025, the New York Stock Exchange (NYSE) and the Nasdaq - the two largest stock exchange operators in the United States - held a combined market capitalization for domestic listed companies of over ** trillion U.S. dollars. Both markets were almost evenly sized at this point in time - at approximately ** and ** trillion U.S. dollars, respectively. However, the Nasdaq has grown much quicker than the NYSE since January 2018, when their respective domestic market caps were ** and ** trillion U.S. dollars. Much of this can be attributed to the success of information technology stocks during the global coronavirus (COVID-19) pandemic, as the Nasdaq is the traditional venue for companies operating in the tech sector.

CN: Market Cap: Shanghai SE: Tradable: Preferred data was reported at 758,102.000 RMB mn in Apr 2025. This records a decrease from the previous number of 760,324.000 RMB mn for Mar 2025. CN: Market Cap: Shanghai SE: Tradable: Preferred data is updated monthly, averaging 763,461.000 RMB mn from Dec 2021 (Median) to Apr 2025, with 41 observations. The data reached an all-time high of 791,000.000 RMB mn in Jun 2022 and a record low of 753,848.000 RMB mn in Jan 2024. CN: Market Cap: Shanghai SE: Tradable: Preferred data remains active status in CEIC and is reported by Shanghai Stock Exchange. The data is categorized under China Premium Database’s Financial Market – Table CN.ZA: Shanghai Stock Exchange: Market Capitalization.

The NYSE U.S. 100 Index tracks the largest U.S. companies traded on the New York Stock Exchange. This statistic shows the leading 20 companies on the NYSE U.S. 100 Index by market capitalization. As of January 28, 2024 the multinational conglomerate company ****************** ranked as the first, with a market capitalization of over *** billion euros. This was followed by ********* and ***************, with market capitalizations amounting to *** billion and *** billion euros respectively. NYSE U.S. 100 Index vs. Nasdaq 100 Index The New York Stock Exchange and the Nasdaq are the largest two stock exchanges in the world, but they differ in the kinds of companies they list. The NYSE is known to list stable and long-lasting firms, commonly referred to as “blue-chip” companies. In contrast, the Nasdaq is renowned for listing the world’s biggest companies, mainly from the tech industry. Similar to the NYSE U.S. 100 Index, the Nasdaq 100 Index tracks the 100 largest non-financial companies listed on the Nasdaq exchange, including both U.S. and non-U.S. companies. The leader of the NYSE U.S. 100 index: Berkshire Hathaway Berkshire Hathaway, the leader of the NYSE U.S. 100 Index, was also among the world's largest companies by revenue in 2023. The company is a multinational conglomerate and holding company with insurance as its core business and interests in other sectors such as railroad, utilities and energy, finance. In fact, Berkshire was the world's biggest insurance company by revenue in 2023. As a holding company, it has significant stakes in some of the world’s largest companies, including Apple, Bank of America and Coca-Cola. With its diverse background in various businesses and industries, Berkshire Hathaway had a total revenue of *** billion U.S. dollars in 2023.

Key information about Taiwan Market Capitalization

• Taiwan Market Capitalization accounted for 2,251.495 USD bn in Feb 2025, compared with a percentage of 2,299.279 USD bn in the previous month
• Taiwan Market Capitalization is updated monthly, available from Oct 1983 to Feb 2025
• The data reached an all-time high of 2,299.279 USD bn in Jan 2025 and a record low of 7.209 USD bn in Oct 1983

CEIC converts monthly Market Capitalization into USD. Taiwan Stock Exchange Corporation provides Market Capitalization in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions.

The total market capitalization of German companies listed on the Frankfurt Stock exchange reached **** trillion euros at the end of 2021. This is above the values found at the end of 2019 and 2017, indicating that Germany's stock market has largely recovered from the financial crash precipitated by the global coronavirus (COVID-19) pandemic in 2020. At the end of 2023, the total market capitalization of German companies listed on the Frankfurt Stock exchange closed at **** trillion euros, a significant decrease compared to the previous year. What is the Frankfurt Stock Exchange? While there are seven stock exchanges in Germany, the Frankfurt Stock Exchange is by far the most important, accounting for around ** percent of transactions. Run by Deutsche Börse AG, the Frankfurt Stock Exchange is comprised of two exchange trading venues: the traditional trading floor of the Börse Frankfurt, and the electronic trading platform Xetra (which in turn is divided into domestic and international markets). Xetra counts for the vast majority of the trading volume of the Frankfurt Stock Exchange. As an electronic platform, the technology behind Xetra is used by other stock exchanges around the world, strengthening the Frankfurt Stock Exchange’s competitive position while facilitating its capacity to handle international trading. As a result, the Frankfurt Stock Exchange is one of the largest stock exchanges in the world, sitting just outside the global top 10. The DAX Index The most important indicator of the German share market is the DAX index, which is comprised of the 30 largest German companies trading on the Frankfurt Stock Exchange. Some of the more famous companies included in the index are: car manufactures like Volkswagen, BMW and Daimler; clothing and shoe manufacturer Adidas; industrial companies BASF and Siemens; and pharmaceutical company Bayer. Following the DAX is the MDAX index, which covers the 60 next-largest German companies by market cap, then the SDAX index, comprised of the 70 next-largest companies after the MDAX.

The global capital exchange ecosystem market, valued at $1.06 trillion in 2025, is projected to experience robust growth, driven by increasing global trade, the rise of fintech innovations, and a growing preference for digital trading platforms. The market's Compound Annual Growth Rate (CAGR) of 5.80% from 2025 to 2033 signifies a consistently expanding market opportunity. Key segments, including the primary and secondary markets, contribute significantly to this growth, with the primary market fueled by Initial Public Offerings (IPOs) and other new listings, while the secondary market thrives on the continuous trading of existing securities. The diverse range of stock and bond types (common, preferred, growth, value, defensive stocks; government, corporate, municipal, mortgage bonds) caters to a broad spectrum of investor profiles and risk appetites. Technological advancements, including high-frequency trading algorithms and improved data analytics, are further enhancing market efficiency and liquidity. However, regulatory hurdles, geopolitical uncertainties, and cybersecurity threats remain as potential restraints on market growth. The strong presence of established exchanges like the New York Stock Exchange (NYSE), NASDAQ, and the London Stock Exchange, alongside emerging players in Asia and other regions, contributes to the market's competitive landscape. Regional growth will likely be influenced by economic development, regulatory frameworks, and investor confidence, with North America and Asia Pacific anticipated to maintain leading positions. The future of the capital exchange ecosystem hinges on adaptation and innovation. The increasing integration of blockchain technology and decentralized finance (DeFi) is expected to reshape trading infrastructure and potentially challenge traditional exchange models. Increased regulatory scrutiny globally will likely necessitate further transparency and improved risk management practices by exchanges. Furthermore, the growing prominence of Environmental, Social, and Governance (ESG) investing will influence investment strategies and, consequently, trading activity across various asset classes. The market's future success will depend on its ability to effectively manage risks, embrace technological innovation, and meet the evolving needs of a diverse and increasingly sophisticated investor base. Continued growth is anticipated, driven by both established and emerging markets. Recent developments include: In December 2023, Defiance ETFs, introduced the Defiance Israel Bond ETF (NYSE Arca: CHAI) to facilitate investors' access to the Israeli bond market. CHAI commenced trading on the New York Stock Exchange. The ETF, CHAI, mirrors the MCM (Migdal Capital Markets) BlueStar Israel Bond Index, enabling investors to tap into both Israel government and corporate bonds. This index specifically monitors the performance of bonds, denominated in USD and shekels, issued by either the Israeli government or Israeli corporations., In January 2024, the National Stock Exchange (NSE) saw a 22% rise in its investor base, increasing from 70 million to 85.4 million during the calendar year 2023. This growth highlights the increasing participation of retail investors in the stock market.. Key drivers for this market are: Automating all processes, Regulatory Landscape. Potential restraints include: Automating all processes, Regulatory Landscape. Notable trends are: Increasing Stock Exchanges Index affecting Capital Market Exchange Ecosystem.

Vietnam HOSE: Market Capitalization: Month End data was reported at 5,122,632.000 VND bn in Apr 2025. This records a decrease from the previous number of 5,456,546.000 VND bn for Mar 2025. Vietnam HOSE: Market Capitalization: Month End data is updated monthly, averaging 2,021,647.500 VND bn from Jan 2010 (Median) to Apr 2025, with 184 observations. The data reached an all-time high of 5,907,181.000 VND bn in Mar 2022 and a record low of 453,784.000 VND bn in Dec 2011. Vietnam HOSE: Market Capitalization: Month End data remains active status in CEIC and is reported by Ho Chi Minh Stock Exchange. The data is categorized under Global Database’s Vietnam – Table VN.Z: Ho Chi Minh City Stock Exchange (HOSE): Index, Trade Value and Volume. [COVID-19-IMPACT]

While nearly every country in Europe has a stock exchange, only five are considered major, and have a market capital of over one trillion U.S dollars. European stock exchanges make up two of the top ten global major stock markets. Europe’s biggest stock exchange is the Euronext which combines five markets based in Amsterdam, Brussels, Dublin, Lisbon, London, Oslo and Paris. Euronext The Euronext Stock Exchange saw a significant increase in total market capitalization between 2021 and 2022, before increasing again during 2023. As of March 2024, the luxury goods company LVMH Moët Hennessy Louis Vuitton was the largest company listed on the Euronext Stock Exchange in terms of market capitalization. Globally, the Euronext Stock Exchange is the fourth largest. London Stock Exchange The London Stock Exchange (LSE) was the second largest stock exchange in Europe and ninth globally in terms of market capitalization of domestic listed companies. As of May 2024, there were 1,775 companies trading on the LSE with the LSE's combined market capitalization amounting to approximately 3.86 trillion British pounds during the same period.

As of December 2024, the Shanghai Stock Exchange had the largest domestic market capitalization among stock exchanges in the Asia Pacific region, amounting to approximately *** trillion U.S. dollars. Second in the ranking was the Shanghai Stock Exchange Group, followed by the Shenzhen Stock Exchange. Stock exchanges in Asia PacificThe major stock exchanges in the Asia-Pacific region are the Tokyo Stock Exchange in Japan, the Shanghai and Shenzhen Stock Exchange in Mainland China, the Hong Kong Stock Exchange in Hong Kong, and the Bombay Stock Exchange in India, which is also the oldest stock exchange in Asia. Also, five out of the ten largest stock exchange operators in the world are located in Asia.What is market capitalization?Market capitalization, also commonly referred to as market cap, is a measure of the total market value of outstanding shares of a company on the stock market. It indicates a company’s relative size and value while taking various determinants such as risk and the market’s perception into consideration. There are large-cap (>** billion), mid-cap (* to ** billion) and small-cap (*** million to * billion) companies depending on their market capitalization.

Switzerland Market Capitalization: SIX Swiss Exchange: Swiss Performance Index (SPI): Automobiles and Parts data was reported at 1,290.228 CHF mn in Jun 2018. This records an increase from the previous number of 1,270.546 CHF mn for May 2018. Switzerland Market Capitalization: SIX Swiss Exchange: Swiss Performance Index (SPI): Automobiles and Parts data is updated monthly, averaging 182.395 CHF mn from Jan 2006 (Median) to Jun 2018, with 150 observations. The data reached an all-time high of 2,178.660 CHF mn in Apr 2006 and a record low of 0.000 CHF mn in Feb 2011. Switzerland Market Capitalization: SIX Swiss Exchange: Swiss Performance Index (SPI): Automobiles and Parts data remains active status in CEIC and is reported by SIX Swiss Exchange. The data is categorized under Global Database’s Switzerland – Table CH.Z002: SIX Swiss Exchange: Market Capitalization.

ASE: Market Capitalization: Hellenic Mid & Small Cap Index data was reported at 22,159,895.705 EUR th in Apr 2025. This records a decrease from the previous number of 22,452,573.076 EUR th for Mar 2025. ASE: Market Capitalization: Hellenic Mid & Small Cap Index data is updated monthly, averaging 9,944,080.310 EUR th from Dec 2013 (Median) to Apr 2025, with 136 observations. The data reached an all-time high of 22,869,977.050 EUR th in Jan 2025 and a record low of 127,109.071 EUR th in Dec 2013. ASE: Market Capitalization: Hellenic Mid & Small Cap Index data remains active status in CEIC and is reported by Athens Stock Exchange. The data is categorized under Global Database’s Greece – Table GR.Z002: Athens Stock Exchange: Market Capitalization.

Switzerland Market Capitalization: SIX Swiss Exchange: Swiss Performance Index data was reported at 1,296,618.608 CHF mn in Oct 2018. This records a decrease from the previous number of 1,316,202.249 CHF mn for Sep 2018. Switzerland Market Capitalization: SIX Swiss Exchange: Swiss Performance Index data is updated monthly, averaging 1,049,445.468 CHF mn from Jan 2000 (Median) to Oct 2018, with 226 observations. The data reached an all-time high of 1,352,691.069 CHF mn in Dec 2017 and a record low of 567,944.886 CHF mn in Mar 2003. Switzerland Market Capitalization: SIX Swiss Exchange: Swiss Performance Index data remains active status in CEIC and is reported by SIX Swiss Exchange. The data is categorized under Global Database’s Switzerland – Table CH.Z002: SIX Swiss Exchange: Market Capitalization.

As of December 2023, State Street’s SPDR S&P 500 ETF Trust was the highest valued exchange-traded fund (ETF) globally, with a market capitalization of about ****** billion U.S. dollars. Market capitalization of an ETF is calculated by multiplying the number of shares issued in the fund by the share price. This ETF is also the largest ETF by assets under management - although, at over * trillion U.S. dollars, the Vanguard Total Stock Market Index Fund is overall the largest investment fund by AUM. However, the Vanguard fund is different because shares in the fund are sold as a variety of different products, some of which are structured as ETFs (like the third-largest fund listed in this statistic), while others are structured as traditional mutual funds.

What are ETFs?

ETFs are similar to mutual funds, in that they consist of a pool of investors’ funds which are managed by an independent third party for the purpose of a common financial investment. However, ETFs differ through how shares in the fund are bought and sold through a stock exchange, rather than directly from the fund manager. This provides the advantages of generally lower prices (as the transaction costs are paid by the exchange operator rather than the fund manager), and the possibility of intraday trading (as shares in a traditional mutual fund can only be bought and sold after the close of daily trading. The total assets managed by ETFs globally is almost *** times lower than that of mutual funds, although the gap in AUM between ETFs and mutual funds in the United States is much lower, at just over ***** times less.

Who are the largest ETF providers?

The largest provider of ETFs globally is Blackrock, the world’s largest asset management company. As of 2023, the company had more than *** trillion U.S. dollars of assets under management in exchange traded funds in the U.S. alone, while Blackrock’s total assets under management across all products reached almost *** trillion U.S. dollars. Rounding out the top three providers of ETFs are fellow U.S asset managers Vanguard and State Street.

As of April 29, 2025, Vanguard Total Stock Market ETF was the highest valued exchange-traded fund (ETF) globally, with a market capitalization of over *** trillion U.S. dollars. The market capitalization of an ETF is calculated by multiplying the number of shares issued in the fund by the share price. This ETF is also the ******-largest ETF by assets under management. However, the Vanguard fund is different because shares in the fund are sold as various different products, some of which are structured as ETFs, while others are structured as traditional mutual funds. What are ETFs? ETFs are similar to mutual funds, in that they consist of a pool of investors’ funds which are managed by an independent third party for the purpose of a common financial investment. However, ETFs differ through how shares in the fund are bought and sold through a stock exchange, rather than directly from the fund manager. This provides the advantages of generally lower prices (as the transaction costs are paid by the exchange operator rather than the fund manager), and the possibility of intraday trading (as shares in a traditional mutual fund can only be bought and sold after the close of daily trading). The total assets managed by ETFs globally is almost six times lower than that of mutual funds, although the gap in AUM between ETFs and mutual funds in the United States is much lower, at just over three times less. Who are the largest ETF providers? The ******* provider of ETFs globally is Blackrock, the world’s largest asset management company. As of April 2025, the company had more than ***** trillion U.S. dollars of assets under management in exchange traded funds in the U.S. alone, while Blackrock’s total assets under management across all products reached almost **** trillion U.S. dollars. Rounding out the top ***** providers of ETFs are fellow U.S. asset managers Vanguard and State Street.