DESCRIPTION OF THE MECHANISM OF OPERATION OF STOCK EXCHANGES IN FOREIGN COUNTRIES AND STOCK MARKET INDICES
DOI:
https://doi.org/10.55640/Keywords:
stock exchange, financial markets, stock indices, market capitalization, liquidity, S&P 500, NASDAQ, investment, globalization, ETFsAbstract
This article analyzes the operational mechanisms of foreign stock exchanges and the characteristics of major stock market indices. It explores how developed stock markets such as the NYSE, NASDAQ, London Stock Exchange, and Tokyo Stock Exchange function within a highly integrated global financial system. The study also examines the role of stock indices, including the S&P 500, Dow Jones Industrial Average, FTSE 100, DAX, and Nikkei 225, as key indicators of economic performance and investor sentiment. Statistical insights are used to demonstrate the importance of liquidity, market capitalization, and technological development in shaping modern financial markets. The research highlights the increasing role of electronic trading systems, institutional investors, and index-based investment instruments such as ETFs in global capital markets.
References
1.Below is a list of academic and institutional sources in APA 7 style that are commonly used in research on stock exchanges and financial market indices:
2.World Bank. (2024). Global financial development database. https://www.worldbank.org
3.International Monetary Fund. (2024). Global financial stability report. https://www.imf.org
4.Securities and Exchange Commission. (2023). Annual report on U.S. capital markets. https://www.sec.gov
5.London Stock Exchange Group. (2024). Market statistics and reports. https://www.lseg.com
6.Nasdaq, Inc. (2024). Market activity and index methodology overview. https://www.nasdaq.com
7.S&P Dow Jones Indices. (2024). Index methodology and performance data. https://www.spglobal.com/spdji
8.FTSE Russell. (2024). Index factsheets and market data. https://www.ftserussell.com
9.OECD. (2023). Capital market development and financial stability reports. https://www.oecd.org
10.Investopedia. (2024). Stock market indices and exchange mechanisms. https://www.investopedia.com
11.Bodie, Z., Kane, A., & Marcus, A. J. (2021). Investments (12th ed.). McGraw-Hill Education
12.Fabozzi, F. J. (2022). Capital markets: Institutions and instruments. MIT Press
13.Mishkin, F. S. (2023). The economics of money, banking, and financial markets. Pearson
14.Hull, J. C. (2022). Options, futures, and other derivatives. Pearson
15.Elton, E. J., Gruber, M. J., Brown, S. J., & Goetzmann, W. N. (2021). Modern portfolio theory and investment analysis. Wiley
16.Damodaran, A. (2023). Investment valuation. Wiley
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