Securities exchanges in the Asia-Pacific region have experienced the most explosive growth over the past year, with the National Stock Exchange of India emerging as the worlds third most active exchange measured by volume, according to a study from Celent, the exchanges consultancy firm.
Celent稱，這一強勁增長表明了在全球角逐重壓加劇的狀況下，證交所行業(yè)所發(fā)生的變化。科技革新使得當?shù)亟灰灼脚_可以達成全球規(guī)模，并擴大買賣量，從而引發(fā)了角逐。
The strong growth is symptomatic of the way the exchanges industry is evolving under competitive pressure that has increased worldwide, says Celent, with competition enabled by technological1 innovation that allows local exchanges to achieve global scale, and increasing trading volumes.
該研究報告題為《全球證交所格局》。研究發(fā)現(xiàn)，按買賣活動增幅衡量，亞洲增幅最大，特別是中國，其上海和深圳交易平臺的上市總市值分別擴大了591%和485%。以股票買賣量衡量，兩交易平臺的增幅分別為311%和231%。
The study, titled Global Securities Exchanges Landscape, found that in terms of growth in trading activity, the biggest increases occurred in Asia, particularly in China where the Shangahi and Shenzhen exchanges increased the value of equities2 traded by 591 per cent and 485 per cent, respectively. By the number of shares traded, the growth rates were 311 per cent and 231 per cent.
整體而言，從2006年上半年到2007年上半年，全球股票買賣量增幅為44%。
Overall, the number of equities trades worldwide increased 44 per cent between the first half of 2006 and that of 2007.
研究發(fā)現(xiàn)，盡管角逐加劇且存在科技投資需要，但交易平臺行業(yè)仍收益不菲。不過，各交易平臺的價值率則大有不同。
The study found that in spite of increasing competition and the need for investment in technology, the exchanges sector3 remains4 highly profitable, although profit margins5 vary widely from group to group.
整體而言，盈利最高的證交所是香港證交所，其利率高達61%；緊隨其后的是倫敦證交所和西班牙交易平臺BME，其利率分別為50%和45%。
Overall, the single most profitable exchange is that of Hong Kong where margins are 61 per cent, followed by the London Stock Ex- change, where margins are 50 per cent, and the Spanish exchange, BME, where margins are 45 per cent.
美國兩大交易平臺紐約證交所和納斯達克的價值率較低。二者分別占全球股票買賣總量的31%和17%，但利率分別為9%和8%。
The two largest US exchanges, NYSE and Nasdaq, which together account for 31 per cent and 17 per cent of all volume traded worldwide, are less profitable. Margins at the two are 9 per cent and 8 per cent, respectively.
報告指出，面對角逐，各交易平臺紛紛實行了股份制改革，并且有不少交易平臺進行了上市籌資。
On the subject of competition, the report notes ex- changes have responded to threats by de-mutualising ownership and in many cases, seeking a listing that gives them access to capital.
報告總結(jié)稱，在歐洲要達成角逐比美國更難。
The report concludes that competition in Europe will be more difficult to achieve than in the US.