Current state and prospects for development of stock exchange in globalization conditions

Abstract

In the classical form, the stock exchange is an organized by professional participants, constantly operating wholesaler of the best securities, with special trading principles, admission procedures to securitiestrading and brokers. Historically, stock exchanges have become, in a sense, the peculiar locomotives of thesecurities market, and their role in the development of economic relations is quite significant. Today, thereare more than 200 stock exchanges with different levels of capitalization around the world. The activities ofsuch financial institutions have an impact on the intensity of economic processes throughout the market. Inparticular, the stock exchange provides optimal conditions for the circulation of securities and acts as a reg ulator of prices for them. Despite the large number of financial regulators operating in all countries of theworld, only some of them have saved and increased the capacity of their economic potential. The level oftheir capitalization exceeds 1 trillion and equals 87% of the global market.This article proposes consideration of the methodology for analyzing the existence of a dependencebetween the direction of the exchange and the economy. The features and problems, historical aspects ofdevelopment of world stock exchanges have been determined. The comparative analysis of ten largest worldstock exchanges, the rating of which is based on stock indices and data of the total turnover of trades, hasbeen conducted. The dynamics of stock indexes of the investigated exchanges for 2015-2018 has been considered.