Global Growth Markets Guide 2007
Global Growth Markets Guide 2007
“AIM has emerged as the star performer, attracting around 300 new listings during 2006 alone –more than all the other world growth markets combined, while also accounting for around half of the total funds raised across the most active growth markets. It has also consolidated its position as a market for international listings due to its low-regulatory burden. As the growth markets succeed in attracting more early stage and highgrowth companies, there has been an overall upward trend in market liquidity with KOSDAQ, the Mothers Market and NASDAQ enjoying increases, the latter’s success being attributable to the gradual filtering of companies listed.
2006 saw the beginnings of a flurry of cross-border consolidation of exchanges, with the NYSE and Deutsche Börse expressing their interest in acquiring Euronext, with the former succeeding and the latter instead making bids for the London Stock Exchange (LSE) and the International Securities Exchange (ISE), both of which it eventually dismissed. While NASDAQ tentatively agreed to acquire the Nordic market operator OMX Group (OMX), their bid to take over the LSE failed, leading to the LSE announcing plans to acquire the Borsa Italiana.
These alliances provide the exchanges’ clients with global coverage and the ability to benefit from trading in different time zones. However, the real benefits of globalisation will only become apparent when companies and investors feel as comfortable using a foreign exchange as a domestic exchange – and this will only happen when there is greater convergence of regulatory standards.
The global growth markets guide analyses the performance of the 41 stock markets competing to list growth company stocks, giving an overview of their size, activity and admission requirements.”