INTERNATIONAL EXPERIENCE OF THE LARGEST STOCK EXCHANGES ON THE EXAMPLE OF NYSE AND NASDAQ
The article examines the main characteristics and experience of functioning of the largest American trade organizers in terms of capitalization. Changes in the structure and distribution of stock exchange capitalizations are attracting a lot of attention both among states and private companies. For example, in 2011 the European Union blocked a proposed merger of Deutsche Borse with NYSE-Euronext (NYSE) on the grounds that the new company would have a de facto monopoly on the sale of derivatives in Europe, which is economically and politically unacceptable. In the same year, the London Stock Exchange Group offered to acquire TMX Group, which is the owner of the Toronto Stock Exchange, for similar reasons. The remaining major world exchanges are owned by both individual publicly traded companies and states, in this case the exchanges are state