Syndicate
World Markets
In the world there are two trends in how different stock markets keep a relationship within the same country. On one side, there are countries that have inter-connected all the stock markets integrating them in a national single market. This is the case of the United States, Japan, Australia, Germany, Switzerland and Canada. In Italy, they follow the same trend since there are ten stock markets integrated in a negotiation system through the exchange of information in real time and a communications network that allows the direct follow up of operations among agents from different market places.
On the other hand, there are some countries in which a single stock market that has practically eliminated all the others ; this is the case of France. In this country, the majority of securities, bonds, and values have to be traded as in the Paris stock market.
This unifying trend taking place inside each country is also happening worldwide. That way , the New York – Tokyo – London triangle is gaining more power every time. At a European level. Some of the main stock markets have already made cooperation agreements that allow them to have an integrated trade system, besides other services.
There are some countries in which the stock markets are public institutions and authorized brokers are officially named after overcoming an opposition that grants them authority to contract. That was Spain’s situation in 1989.
As said before, today agencies and securities societies are the authorized ones to contract in Spanish stock markets. Currently, Spanish stock markets as in Anglo-Saxon countries are private institution (specifically anonymous societies). Any ways, these private stock markets are controlled by public power in Anglo-Saxon stock markets operations are made by brokers on behalf of their clients.