Where is stock exchange's stock listed?
June 5, 2006 12:46 PM Subscribe
Apparently the more forward-thinking stock exchanges these days are themselves publicly listed, so where the hell do they list?
Is there some stock-exchange-only stock exchange, or do they list on themselves or what?
Is there some kind of horrible meta-problem with this? It just seems like there must be!
Is there some stock-exchange-only stock exchange, or do they list on themselves or what?
Is there some kind of horrible meta-problem with this? It just seems like there must be!
No, there's not really much of a meta-problem. The company that runs the NYSE, which happens to be called NYSE Group, has a share price that is independent of the share prices of listed companies. The NYSE Group share price is determined by how much money the company makes from running the stock exchange, not the prices of companies listed on the exchange.
posted by matthewr at 12:58 PM on June 5, 2006
posted by matthewr at 12:58 PM on June 5, 2006
I think he's talking more about index funds than the companies that run the exchanges themselves.
posted by Keith Talent at 12:59 PM on June 5, 2006
posted by Keith Talent at 12:59 PM on June 5, 2006
To put it in other words NYSE Group, Inc. is what is listed and the NYSE Group, Inc. is just a company that runs the NYSE. So it is the company that runs the exchange (and makes a good deal of money doing so) that is on the NYSE not the NYSE itself.
posted by The Radish at 1:11 PM on June 5, 2006
posted by The Radish at 1:11 PM on June 5, 2006
Also, if there were a stock-exchange-only stock exchange, on which exchange would that exchange be listed? Talk about your horrible meta-problems!
posted by mr_roboto at 1:22 PM on June 5, 2006
posted by mr_roboto at 1:22 PM on June 5, 2006
They list on themselves. The London Stock Exchange is listed on the... London Stock Exchange, where it was recently subject to a bid from the Frankfurt Deutsche Borse and may yet be bought by NASDAQ.
There's little scope for conflicts of interest as the trading and disclosure rules are (a) transparent - so it would be obvious if it was cheaper to trade in LSE shares rather than Vodafone or if the LSE didn't have to disclose its turnover and (b) the rules are enforced to a large extent by independent third parties e.g. the FSA in the UK or the SEC in the US.
posted by patricio at 3:22 PM on June 5, 2006
There's little scope for conflicts of interest as the trading and disclosure rules are (a) transparent - so it would be obvious if it was cheaper to trade in LSE shares rather than Vodafone or if the LSE didn't have to disclose its turnover and (b) the rules are enforced to a large extent by independent third parties e.g. the FSA in the UK or the SEC in the US.
posted by patricio at 3:22 PM on June 5, 2006
NASDAQ lists itself too (http://finance.google.com/finance?cid=682852)...I know this because Google Finance not very helpfully returns the Nasdaq Stock Market as the first hit when you search for Nasdaq (instead of an index. argh!)
posted by jewzilla at 4:33 PM on June 5, 2006
posted by jewzilla at 4:33 PM on June 5, 2006
This thread is closed to new comments.
posted by mr_roboto at 12:53 PM on June 5, 2006