As a result, India's bourses now serve investors who want to trade on the basis of publicly available information rather than hot tips.
And yet most of the world's bourses are now in turmoil, as they scrabble to be seen making alliances or mergers, to fend off electronic competitors, or simply to survive.
China's bourses are now more valuable than Japan's, where the Nikkei 225 index is at about a quarter of its 1989 peak.The long slide into semi-relevance explains the merger announced on November 22nd between the TSE, which dominates cash stock-trading, and the Osaka Securities Exchange (OSE), which focuses on derivatives.
Dotconomy Bourse battle Tax from scratch ReprintsThe question now, given that there is bound to be further consolidation of equity trading in eastern Europe, is where that liquidity will go.
Yet there is now irresistible pressure on the world's bourses to find some way of going global.This raises issues of public policy.
To stay "a step ahead of the biggest companies", says Manuel Alves Monteiro, BVLP's head, the exchange is now in talks about joining Euronext, the merged bourse of Amsterdam, Brussels and Paris.A second option is to strike out into foreign markets in which Portuguese experience might offer a special advantage.
Several observers emphasise the despair and helplessness which seemed to seize Londoners on this second day, and the lack of efforts to save the wealthy, fashionable districts which were now menaced by the flames, such as the Royal Exchange combined bourse and shopping centre — and the opulent consumer goods shops in Cheapside.
The "six sisters," a set of row-house mansions, are now gone, but the street is peaceful, and the old bourse building, with its magnificent spire of four intertwined dragon tails, is well worth the detour.
Twelve national and regional exchanges have now done so, and most of the remaining 20 bourses plan to follow: –Since 2008, Zambia, Ghana and Uganda have introduced electronic trading systems, joining Mauritius, Botswana and Namibia, which made the move a few years earlier.
Past attempts to trade credit derivatives on bourses have flopped.Still, that is the direction in which the market is inching, with a (for now) gentle helping hand from regulators.
