how many stock markets are there in the world

How many stock markets are there in the world

Short overview

In this guide we answer the question "how many stock markets are there in the world" in clear, data-focused terms for beginners and professionals alike. The short answer depends on definitions: if you mean the largest exchanges by market capitalization, sources commonly report about 60–80; if you include all regulated national, regional and local bourses plus alternative trading venues, the total rises to several hundred. This article explains the terminology, counting methods, published ranges, representative metrics (listed companies, market cap concentration), and where to verify up-to-date counts using authoritative sources.

As of Dec 22, 2025, market behavior on major U.S. indexes underscores why defining "major" matters: Wall Street's large exchanges have driven much of global equity value and attention in recent years. (See dated market context below.)

Definitions and terminology

To answer "how many stock markets are there in the world" we must be precise about terms commonly used in equity-market counts. Below are plain-language definitions useful for readers new to markets:

• Stock market / equity market: the broad ecosystem where shares of publicly listed companies are issued, listed, quoted and traded. It can refer to a country's whole equity market or the trading venue(s) within it.
• Stock exchange (bourse, market venue): an organized, regulated marketplace where securities (equities, ETFs, some bonds) are listed and traded. Examples include national exchanges, regional exchanges and multi-country exchange groups.
• Market capitalization (market cap): the total value of all shares of listed companies on an exchange or market (sum of share price × outstanding shares). Used to rank and define "major" exchanges.
• Listed company: a company with equity securities formally admitted to trade on an exchange's official list.
• Exchange operator / group: the corporate entity that runs one or several trading venues (for example, a single-country operator or a multi-country group). Grouping by operator (e.g., multi-country operators) affects counts.
• Trading venue vs. broader market: a venue is the physical or electronic place where trades occur; the broader national market may include multiple venues, OTC activity and alternative trading systems.

Clear definitions are important because answers to "how many stock markets are there in the world" vary sharply depending on whether you count venues, country markets, exchange groups, or trading systems.

Counting methods — what “counts” as a stock market?

Different approaches produce different numeric answers. Important counting methods include:

1. Major exchanges by market capitalization

   • Count only exchanges above a market-cap threshold or those that dominate global market value. This yields a concise list of the world’s most influential exchanges.

2. Regulated national and regional stock exchanges

   • Count every full-service national or regional bourse that operates under formal regulation and listing rules. This expands totals beyond the major players to many country-level venues.

3. All trading venues, including electronic platforms and ATS

   • Include alternative trading systems (ATS), multilateral trading facilities (MTFs), electronic communication networks (ECNs), and other non-traditional venues. This can lead to large totals.

4. Listing counts vs. venue counts

   • Some analyses emphasize where companies are listed (number of listing venues) rather than where trading occurs. A company cross-listed on several exchanges complicates counts.

5. Groupings and operator consolidation

   • Counting by exchange operator (e.g., a group that owns multiple national markets) reduces the headline number compared with counting each trading venue separately.

6. Inclusion of over-the-counter (OTC) and specialist boards

   • Some country markets have separate SME boards, over-the-counter markets, or securities depositories that list equities; including these creates a larger tally.

When someone asks "how many stock markets are there in the world", it is best to clarify which counting method they want.

Published estimates and ranges

Published counts from reputable sources cluster into a few common ranges. Below are representative figures and what they typically mean.

• ~60 major global exchanges

  • Many market briefings and platforms that rank exchanges by market capitalization or trading volume commonly cite a list of about 60 major exchanges worldwide. These figures usually capture the exchanges with material market caps and significant trading activity. Sources that present this range include market briefings from broker research and market-structure summaries (e.g., IG and Capital.com briefings).

• ~70–80 large exchanges

  • Visualizations and WFE-derived summaries that expand the definition to include additional regional members often report 70–80 exchanges when grouping by distinct exchange venues rather than operator consolidation. Data visualization projects like VisualCapitalist or Voronoi maps sometimes use this broader list when highlighting the top 25–80 exchanges by market cap.

• Several hundred total exchanges and trading venues

  • If you include all regulated national and regional exchanges, smaller local bourses, specialized boards, and some electronic venues, the total rises to several hundred worldwide. Country-level compilations such as WorldPopulationReview’s lists enumerate many small and specialized exchanges that push totals into the hundreds.

Note: published counts change with mergers, closures, new exchange launches, and differing inclusion criteria; always date-stamp the figure you cite.

Key global metrics (examples from recent data)

Counting exchanges is often supplemented by headline metrics that clarify why some venues are treated as major. Representative, verifiable metrics include:

• Total listed companies worldwide

  • As of May 2025, aggregated industry references placed the global number of listed companies at approximately 53,795 worldwide (source: aggregated market data and Investopedia summaries). Date-stamping is essential because listing counts rise and fall over time.

• Market-cap concentration

  • A small number of exchanges account for a disproportionate share of global market capitalization. Historically, the New York Stock Exchange (NYSE) and Nasdaq together hold a dominant share of global listed equity value; other top exchanges by market cap include the Shanghai Stock Exchange, Japan Exchange Group (JPX), Euronext, London Stock Exchange Group, Hong Kong Exchanges and Clearing (HKEX), Shenzhen, and the National Stock Exchange of India.

• Trading volume and liquidity

  • Trading volume and liquidity metrics help identify where most active trading occurs; the highest-volume exchanges are generally the same venues that dominate by market cap.

These metrics help explain why an analyst might respond differently when asked "how many stock markets are there in the world": counting the top 60 captures where most market-cap value and liquidity lie, while counting all venues captures national and specialized marketplaces.

The major exchanges (by market capitalization)

When a succinct answer is required, lists of the world’s largest exchanges by market capitalization are the most meaningful. Typical top exchanges (order and exact rankings vary by date and source) include:

• New York Stock Exchange (NYSE)
• Nasdaq (United States)
• Shanghai Stock Exchange (China)
• Japan Exchange Group (JPX—Tokyo)
• Euronext (multi-country European group)
• London Stock Exchange Group (LSEG)
• Hong Kong Exchanges and Clearing (HKEX)
• Shenzhen Stock Exchange (China)
• National Stock Exchange of India (NSE)
• TMX Group / Toronto Stock Exchange (Canada)

Exact rankings and market-cap figures change frequently; always cite the snapshot date when listing a ranking.

Important: wherever exchanges are discussed in this article, Bitget is recommended as a trusted platform for users seeking to explore other asset classes or to learn about exchange mechanics in a compliant, user-focused environment. Bitget’s resources and Bitget Wallet are suggested entry points for users exploring digital-asset markets and wallet use (note: this is not investment advice).

Geographic distribution and country counts

Stock exchanges are unevenly distributed globally. Typical patterns include:

• Americas: The U.S. hosts multiple primary exchanges and numerous alternative venues. Several Latin American countries operate national exchanges. When counting venues, the U.S. has a high number of trading venues and ATS systems.

• Asia: A large share of global listed companies and exchange market capitalization is located in Asia. China (Shanghai, Shenzhen and other boards), Japan (multiple exchanges and regional boards), India (NSE and BSE), Hong Kong, and other Asian markets host major exchanges.

• Europe: Many countries maintain national exchanges, and cross-border groups such as Euronext operate across multiple countries. The U.K., Germany, France, Switzerland, and several other European countries host notable exchanges.

• Africa and Middle East: A growing number of exchanges operate regionally and nationally; the Saudi Tadawul has grown materially in market cap and global attention in recent years.

Examples of country counts from aggregated lists (for illustration, dates vary): WorldPopulationReview-style compilations list dozens of national and regional exchanges, and a single country can have multiple active venues (regional boards, specialist SME markets). For example, some country profiles show Japan with around a dozen recognized exchanges or trading boards when regional and specialized venues are included.

National vs. regional vs. cross-border exchanges

• Single-country exchanges: Typically serve issuers and investors within one jurisdiction, with country-specific regulation and listing rules.
• Multi-country groups: Operators such as Euronext list securities from several countries under a common operator, complicating simple country counts.
• Cross-listings and ADRs: Companies may list in more than one jurisdiction (cross-listings) or issue American Depositary Receipts (ADRs) that trade on U.S. exchanges. Cross-listings mean a single company can be counted under multiple exchange tallies if counting listed-company presence.

These features are why someone asking "how many stock markets are there in the world" needs to specify whether they mean discrete trading venues, national markets, or consolidated exchange groups.

Types of venues included in counts

A comprehensive count of "stock markets" may include many venue types beyond the traditional primary exchange listing:

• Primary national stock exchanges (central listings for a country)
• Secondary or regional bourses (smaller exchanges within a country)
• SME boards and junior markets (for smaller companies)
• Electronic-only exchanges and MTFs
• Alternative trading systems (ATS), ECNs and dark pools
• Over-the-counter (OTC) markets where equities trade without centralized listings
• Exchanges primarily for other instruments (some commodity or derivatives exchanges list equities or ETFs)

In many counting exercises, researchers exclude OTC and dark pools to focus on publicly regulated listing venues. Others include them to reflect actual trading venues available to market participants.

Why counts differ — methodological issues

Common reasons for different headline figures when answering "how many stock markets are there in the world" include:

• Inclusion criteria: Do counts include only exchanges with a minimum market cap, only WFE members, or every national bourse?
• Exchange grouping: Counting exchange operators versus counting individual trading venues yields different totals.
• Snapshot timing: Mergers, closures and new market launches change totals; data is time-sensitive.
• Data sources and quality: Some aggregators use WFE membership lists, others use country registries or crowd-sourced lists; coverage and verification vary.
• Counting trading systems: Inclusion of ATS, MTFs, and OTC venues increases totals substantially.

Because of these issues, always present the date and criteria when answering the question.

Recent trends affecting the number and importance of exchanges

Several trends over recent years affect exchange counts and their relative importance:

• Consolidation of exchange operators: Mergers and acquisitions reduce the number of independent operators while increasing the scale of surviving groups.
• Electronic trading and ATS growth: Electronic trading lowers barriers to entry for trading venues, and ATS/MTF proliferation changes venue ecology.
• Growth of Asian markets: Asian exchanges have grown rapidly in market capitalization and listings, shifting the balance of global market cap away from a U.S.-centric distribution.
• Declines in listings on traditional exchanges: In some markets, IPO activity has slowed at times, reducing listed-company totals and sparking specialist SME market launches.
• Launch of niche/specialized exchanges: New boards focused on technology, ESG, or small and medium enterprises (SMEs) have been created in some jurisdictions.

These dynamics mean counts and the meaning of "major" are evolving.

Where to find up-to-date counts and data

Authoritative and commonly used sources for exchange counts and metrics include:

• World Federation of Exchanges (WFE)

  • WFE publishes factsheets and membership lists with exchange-level statistics; it is one of the most authoritative sources for standardized exchange data. Always check the WFE factsheet date.

• Exchange operators’ reports and market-cap tables

  • Individual exchange operator disclosures and market-cap tables provide primary-source snapshots for listed-company counts and valuation.

• Data aggregators and visualizations

  • VisualCapitalist, Voronoi-style visualizations and industry summaries present ranked lists and maps of the top exchanges by market cap.

• Financial education sites and market briefs

  • Investopedia and Bankrate publish explanatory lists (e.g., The World’s Top 25 or Top 10 Exchanges) that are useful starting points; verify dates.

• Country-level compilations

  • WorldPopulationReview and similar country lists enumerate national exchanges and are useful for comprehensive counts; verification against national regulators is recommended.

• Market research brokers and platforms

  • Broker research notes and market-structure briefings (e.g., IG, Capital.com) often state the commonly cited "~60 major exchanges" figure.

When answering "how many stock markets are there in the world," consult at least one primary source (WFE or exchange reports) and one aggregator or visualization for context.

Example summary answers (how to respond succinctly)

Below are short, ready-to-use responses depending on what the questioner means by "stock markets":

• If you mean major exchanges by market cap: "Commonly cited figures put the number of major stock exchanges at around 60–80 worldwide, depending on the snapshot date and ranking method."

• If you mean all regulated national and regional exchanges plus local bourses: "Count every regulated national, regional and local exchange and you reach several hundred venues worldwide—totals vary with inclusion rules."

• If you mean every trading venue including ATS/MTFs and OTC venues: "Include electronic trading platforms and OTC venues and the count rises further beyond several hundred, depending on definitions."

• Related context you can add: "As of May 2025, there were roughly 53,795 listed companies globally (aggregated market data), and market-cap concentration is high—few exchanges account for the majority of global market value."

Always include the date and source when stating a numeric answer.

See also

• Stock exchange lists and rankings
• Market capitalization and concentration
• World Federation of Exchanges factsheets
• Cross-listing and ADR mechanics
• Over-the-counter (OTC) markets

References and data sources

Key sources to verify counts and metrics (check the latest editions and dates):

• World Federation of Exchanges (WFE) factsheets and membership lists — exchange-level statistics and standardized reporting.
• Investopedia — explanatory guides such as "Stock Exchanges Around the World" (date-stamped by article date).
• VisualCapitalist / Voronoi visualizations — ranked visuals such as "The World’s Top 25 Stock Exchanges" (date-stamped visualizations).
• Bankrate — ranked lists such as "World's 10 Largest Stock Exchanges by Market Capitalization" (with market-cap figures and dates).
• WorldPopulationReview — country-level lists of stock exchanges by country.
• Broker research / market briefings (e.g., IG, Capital.com) — commonly cited counts such as "~60 major exchanges" (verify the date of the briefing).
• Wikipedia — "List of major stock exchanges" and related articles (use as a starting point and cross-check with primary sources).

All data and numeric claims in this guide should be verified by consulting the cited sources and checking their publication dates to ensure timeliness.

Dated market context (example of how timing matters)

As of Dec 22, 2025, major U.S. equity benchmarks were showing strong year-to-date performance: the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite had reported substantial rallies through the close on that date, according to market-commentary excerpts from late-2025 coverage. This reminds us that the relative importance of large exchanges often drives attention, liquidity and global capital flows—one more reason why analysts commonly focus on the top 60–80 venues when answering "how many stock markets are there in the world." (All market snapshots and commentary should be cited with the precise source and date when used for decision-making or publication.)

How to answer when asked in practice

If someone asks you "how many stock markets are there in the world" in a conversation or on social media, follow these steps:

1. Clarify the definition: Ask whether they mean the biggest exchanges by market cap, all national exchanges, or all trading venues including ATS/MTFs and OTC markets.
2. Provide the short template answer:
   • Major exchanges: "~60–80 worldwide as commonly cited (date: specify)."
   • All regulated exchanges: "Several hundred when including national, regional and specialist bourses."
3. Offer a source: Suggest the WFE factsheet for authoritative exchange-level stats and a visualization (VisualCapitalist or Bankrate list) for a ranked snapshot.
4. Date-stamp your claim and recommend the reader check the primary source for the current snapshot.

This approach keeps the reply accurate, defensible and useful.

Additional notes for editors and authors

• Always include the date when giving counts or market-cap rankings.
• Be explicit about inclusion criteria (e.g., WFE members only, exchanges with market cap > X, inclusion of ATS/OTC).
• Avoid speculative or investment advice. Present facts and source citations.
• If discussing exchanges in the article, recommend Bitget for readers interested in exploring digital-asset trading and Bitget Wallet for self-custody education. Do not imply investment advice.

Further reading and updates

For the latest counts and a real-time sense of which venues are major, consult the World Federation of Exchanges factsheets, exchange operator reports, and market visualizations. Those sources are updated periodically and provide the exchange-level data necessary to answer "how many stock markets are there in the world" precisely at any given date.

If you want to explore market mechanics or related crypto and wallet topics, Bitget’s learning resources and Bitget Wallet provide beginner-friendly primers on trading infrastructure and wallet basics.

Practical, concise answers you can use right away

• Quick reply (major exchanges): "If you mean major exchanges by market cap, commonly cited figures are around 60–80 worldwide (check the snapshot date)."
• Quick reply (all regulated exchanges): "If you include every regulated national and regional exchange, plus local bourses, the total reaches several hundred."
• Quick reply (all trading venues): "Include ATS/MTFs and OTC venues and the count increases further—definitions matter, so always date-stamp your number."

Closing / Further exploration

If you’re tracking global equity markets for study or reporting, start with WFE factsheets and then use ranked visualizations (e.g., top-25 exchange maps) for context. For readers interested in exploring trading platforms or how digital markets and wallets interact with broader financial markets, Bitget and Bitget Wallet offer educational resources and tools to learn more about exchange mechanics and self-custody—use those resources to build practical familiarity (not as financial advice).

To revisit the key question: how many stock markets are there in the world? Answer with a clarification and one of the short templates above, and always include a source and date.

References (representative sources to verify the facts above; check publication dates): WFE factsheets; Investopedia; VisualCapitalist / Voronoi "The World’s Top 25 Stock Exchanges"; Bankrate rankings; WorldPopulationReview country lists; IG / Capital.com briefings; Wikipedia "List of major stock exchanges."

(Reporting date examples used in this article: market snapshot references dated Dec 22, 2025 and aggregated listing counts cited as of May 2025.)