Stock Exchange
Chapter 1: Introduction
How do companies go public? Which are the largest exchanges? Is the exchange open daily? Let's unveil the stock exchange.
首先，we来看一下伦敦证券交易所 (LSE)。尽管于1801年才正式成立，但其历史可以追溯到17世纪伦敦街头的咖啡馆。如今，伦敦证交所根据英国排名前100的上市企业的表现制作了 富时100指数。此外，还有富时全股指数（FTSE All-Share index），囊括了超过900家上市企业。The LSE has also opened an "Alternative Investment Market" (AIM), which has low barriers to listing and relatively liberal requirements.
The biggest change in the London Stock Exchange occurred on October 27, 1986, when all stock trading became Electronic. This not only reduces the percentage of commissions, but also significantly improves the efficiency of transactions. This is good news for ordinary investors, with reduced commissions and increased transparency; But it is definitely bad news for the "old boys' club" known for its social elites; In addition, the crowd also bid farewell to the long, drawn-out wine tasting lunch time between trades.
Other well-known stock exchanges include the New York Stock Exchange (largest by market capitalization) and the Tokyo Stock Exchange. Here you can find a detailed list of the most active stock markets.
Chapter 2: How do companies go public?
The purpose of most companies "going public" is to raise funds and increase the liquidity of their shares. In exchange, they need to give up some of their ownership of the business. The "listing" of enterprises may bring positive (or negative) publicity effects to enterprises.
In the process of going public, companies not only spend a lot of money, but also spend a lot of time to prove to investors the soundness of their business. Business Management, lawyers, financial communication and investor relations integrated strategy such as... enterprises listed on the road long, arduous task.
A well-prepared initial public offering (IPO) usually takes 15 - 20 weeks. Companies can choose either Premium Listing or Standard Listing. Advanced listings require companies to be higher than average, while standard listings only require companies to meet basic EU regulatory requirements, with relatively loose compliance requirements.
Chapter 3: When does the stock exchange open for trading?
Given the different time zones, there are exchanges that are trading at any time. But the London Stock Exchange, which itself was listed in 2000, trades Monday to Friday from 8:00 a.m. to 4:30 p.m.
Stock Exchange Origin:
In 1698, Jonathan's Café in Exchange Street, London, began issuing stock and commodity prices. In this place, mixed with clay tobacco bags, coffee, brothels and other "bad smells", the now famous London Stock Exchange was born.
