2013 Market Segmentation Survey

Transcription

1 Market Segmentation Survey

2 Introduction This survey is being conducted since The domestic market capitalization was broken down in four segments according to thresholds. The same threshold levels were kept for the last 5 surveys for consistency reasons. The segments were defined as follows: market cap segment : market cap > USD 1.3 bn market cap segment : USD 1.3 bn > market cap > USD 200 m market cap segment : USD 200 m > market cap > USD 65 m market cap segment : market cap < USD 65 m 2

3 Methodology Exchanges were asked to distribute their domestic market cap, number of domestic listed companies, EOB trading value and EOB number of trades into these 4 segments. Since 2008, an important change in the methodology has been introduced: only EOB trading is now considered while total trading was used for the first survey. Companies delisted during the year were excluded. In market capitalization, number of companies, EOB trading value and number of trades: Main board + SMEs/Alternative markets data are consolidated. 3

4 Overview of other existing thresholds SMEs SMEs WFE Market Seg. FESE Market Seg. FESE SME WG United States Esma SMSG European Parl. - United States = Generally accepted definition in the United Sates - SMSG = Securities and Markets Stakeholder Group - European Parliament = Directive of the European parliament and of the council on markets in financial instruments repealing Directive 2004/39/EC of the European Parliament and of the Council 4

5 Received answers The study is based on 56 answers received from the following members in All the indicators are not available for every member and for each year. On each graph the excluded members are mentioned. Americas (9) Asia Pacific (17) EMEA (25) BM&FBOVESPA Bolsa de Comercio de Buenos Aires Bolsa de Comercio de Santiago Bolsa de Valores de Colombia Bolsa de Valores de Lima Bolsa Mexicana de Valores NASDAQ OMX US NYSE US TMX Group Inc. Australian Securities Exchange BSE India Limited Bursa Malaysia Colombo Stock Exchange GreTai Securities Market HoChiMinh Stock Exchange Hong Kong Exchanges and Clearing Indonesia Stock Exchange Japan Exchange Group, Inc. Korea Exchange National Stock Exchange of India NZX Limited Philippine Stock Exchange Shanghai Stock Exchange Shenzhen Stock Exchange Singapore Exchange Stock Exchange of Thailand Taiwan Stock Exchange Abu Dhabi Securities Exchange Amman Stock Exchange Athens Exchange BME Spanish Exchanges Borsa Istanbul Bourse de Casablanca Bourse de Luxembourg Budapest Stock Exchange Cyprus Stock Exchange Deutsche Börse Irish Stock Exchange Johannesburg Stock Exchanges Kazakhstan Stock Exchange Ljubljana Stock Exchange London Stock Exchange Group Malta Stock Exchange Muscat Securities Market NASAD OMX Nordic Euronext Oslo Børs Qatar Exchange Saudi Stock Exchange (Tadawul) SIX Swiss Exchange Stock Exchange of Mauritius Tel-Aviv Stock Exchange The Egyptian Exchange Wiener Börse 5

6 Market segments in 82% of the listed companies worldwide are & Cap (Market Capitalization inferior to 1.3 billion USD) In the US (especially NYSE), the weight of & Cap is significantly lower (62% for all US and 42% for NYSE-Listed Shares) More than 9 of market capitalization is accounted for by largecap companies The weight of mid-cap in number of trades remains important especially in Asia-Pacific region Weight of each market segment in: Number of listed companies 37% 18% Number of trades 2% 2% Market Capitalization & 6% 2% Share trading value & 1 2% 18% 27% 76% 92% 88% 6

7 Market segments in by region Weight of each market segment by region in: Americas Number of listed companies 14% 19% 35% Number of trades 1% 13% Market Capitalization & 4% 1% Share trading value & 1% 6% 32% 86% 95% 93% Number of listed companies Number of trades Market Capitalization Share trading value Asia-Pacific 13% 26% 38% 3% 4% 55% & 12% 3% 21% & 3% 21% 85% 76% Number of listed companies Number of trades Market Capitalization Share trading value EAME 43% 16% 24% 5% 4% 12% & 5% 3% 11% & 3% 17% 79% 92% 86% 7

8 Weight of and Cap per Country % 91% 88% 8 78% Canada Peru Argentina Americas Chile Total Americas 73% 71% 62% 6 Brazil Colombia United-States Mexico Sri Lanka 99% 98% 97% 94% 93% 93% 93% 92% % 85% 83% 83% Vietnam India Autralia Taiwan South Korea Asia Pacific Malaysia Thailand Indonesia Total Asia P Singapore % 98% 98% 98% 97% 97% 96% 95% 92% 92% 88% 87% 85% 84% 84% 82% 82% 8 78% 77% Cyprus Kazakhstan Malta Mauritius Oman Jordania Slovenia Spain Greece Egypt Israel Hungary Turkey EMEA Total EMEA Marocco Germany Norway United Arab UK & Italy Sweden, South Africa France, Belgium, New Zealand Austria Luxembourg Japan Philippine Hong Kong 78% Mainland China 74% 73% 7 65% Ireland Saudi Arabia Switzerland 48% Qatar 8

9 Number of domestic listed companies Following the good performance of stock markets and the implied valuation effects, the share of large caps logically increased and the share of micro cap decreased In AP and EMEA, the number of mid cap 45% 35% 3 25% 15% 1 5% 18% 16% 27% 25% 19% 18% 36% Americas 35% 31% 31% 32% 22% 19% 15% 14% 45% 35% 3 25% 15% 1 5% Asia-Pacific 25% 27% 21% 21% 12% 13% 42% EAME 49% 43% 24% 18% 13% 16% 17% 9

10 Domestic market capitalization cap companies made up 92% of the market capitalisation in, up 1% on last year % 92% 8% 7% 1% 1% 1% % 95% Americas % 85% Asia-Pacific % 92% EAME 5% 4% 1% 13% 12% 2% 2% 1% 1% 7% 5% 1% 2% 1% 1% 10

11 Value of Share Trading Despite the increasing share of mid-cap in the total number of listed companies in Asia-Pacific and EMEA, their share in value of share trading decreased in those two regions % 89% % 1% 1% 1% % 93% Americas % 76% Asia-Pacific % 91% EAME 7% 6% 1% 1% 22% 21% 3% 3% 1% 1% 9% 7% 2% 2% 1% 1% 11

12 Number of trades % 77% 21% 2% 2% 2% 2% % 86% Americas % 5 Asia-Pacific 43% 38% % 79% EAME 14% 13% 1% 1% 1% 1% 5% 4% 3% 3% 14% 12% 4% 4% 5% 5% 12