Borse Mercànte de Montecara: Difference between revisions

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|alt_name  =  
|alt_name  =  
|logo      =  
|logo      =  
|image      = [[File:Piazza De Ferrari.jpg|200px]]
|image      = [[File:Piazza De Ferrari.jpg|300px]]
|type      = {{wp|Stock exchange}}
|type      = {{wp|Securities exchange}}
|city      =  
|city      =  
|country    =  
|country    =  
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|commodity  =  
|commodity  =  
|listings  =  
|listings  =  
|mcap      = $789 billion
|mcap      = $789 billion (Q4 2019)
|volume    = $1,148 billion
|volume    = $1,148 billion (Q4 2019)
|indexes    =  
|indexes    =  
|homepage  = [http://borse.mc borse.mc]
|homepage  = [http://borse.mc borse.mc]
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== History ==
== History ==
The Borse directly grew out of informal trading groups that operated out of Montecara's cafes in the early and mid-16th century. Cafes frequented by merchants and those interested in investing in the sea trade began to collect useful information, including ship schedules, commodity prices, and lists of owners in then-novel {{wp|joint-stock companies}}. This informal network grew along with the need to consolidate trade into a single market, and the Borse was thus created in 1563.
The Borse directly grew out of informal trading groups that operated out of Montecara's cafes in the early and mid-16th century. Cafes frequented by merchants and those interested in investing in the sea trade began to collect useful information, including ship schedules, commodity prices, and lists of owners in then-novel {{wp|joint-stock companies}}. This informal network grew along with the need to consolidate trade into a single market, and the Borse was thus created in 1563. The concept of allowing anyone to buy and sell stock in a company was radical for the mid-16th century and remained virtually unheard-of in most of the world until the mid-19th century.  
 
The concept of allowing anyone to buy and sell stock in a company was radical for the mid-16th century and remained virtually unheard-of in most of the world until the mid-19th century.  


Prices were traditionally given in [[Montecaran libra|libra]] and onçiá, a non-decimal system with base 12. The Borse was decimalized in 1989.
Prices were traditionally given in [[Montecaran libra|libra]] and onçiá, a non-decimal system with base 12. The Borse was decimalized in 1989.


== Ownership and management ==
== Ownership and management ==
The Borse is owned by BMM s.a.i., a publicly traded company which is itself listed on the Borse. The State of Montecara owns 21.3% of the company's stock through [[Montepieta]], its {{wp|sovereign wealth fund}}.  
The Borse is owned by BMM s.a.i., a publicly traded company which is itself listed on the Borse. The Montecaran state owns 21.3% of the company's stock through [[Montepietà]], its {{wp|sovereign wealth fund}}.  


Daily operations are managed by a board of directors elected by the parent company's stockholders. The Borse is organized into operating divisions based on trading activity:
Daily operations are managed by a board of directors elected by the parent company's stockholders. The Borse is organized into operating divisions based on trading activity:
* BMM Aequità, {{wp|stock}} trading
* BMM Equità, {{wp|stock}} trading
* BMM Obligaxò, {{wp|bond}} and other {{wp|debt securities}} trading
* BMM Obligaxò, {{wp|bond}} and other {{wp|debt securities}} trading
* BMM Derività, {{wp|derivative (finance)|derivatives}} trading
* BMM Derività, {{wp|derivative (finance)|derivatives}} trading
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* BMM Aurea, clearing services for {{wp|shipping markets}}
* BMM Aurea, clearing services for {{wp|shipping markets}}


Companies listed on the Borse must be incorporated in Montecara, and their stock price must not fall below Ł100 for thirty consecutive days.
Companies listed on the Borse must be incorporated in Montecara, and their stock price must not close below Ł100 for thirty consecutive days.


The bond market is the single largest component of the Borse by number of listings, with over 1,000 varieties of sovereign, municipal, corporate, and foreign-denominated debt securities. It is the world leader in {{wp|Eurobond (external bond)|euclobonds}} and attracts issuers from around the world thanks to its highly liquid and well-subscribed market.
The bond market is the single largest component of the Borse by number of listings, with over 1,000 sovereign, municipal, corporate, and foreign-denominated debt securities. It is the world leader in {{wp|Eurobond (external bond)|euclobonds}}. The Borse attracts issuers from around the world thanks to its large investor base, high profile, efficient {{wp|price discovery}}, favorable [[Taxation in Montecara|tax]] and regulatory environment, and the socio-political stability that Montecara provides. Listing with the Borse also affords overseas entities access to Euclean investors without having to navigate EC red tape. Debt securities listed on the Borse must not mature in less than thirty days and must meet certain standards for {{wp|credit rating|credit}} and quantity of issue.


== Listings ==
The Borse is the main secondary market for Montecaran bonds. Bonds with maturities ranging from 30 days to 50 years are sold on the exchange.
''Listings are given for illustrative purposes and are not exhaustive. Market capitalization figures are current as of 1 August 2020.''
 
== Top 20 stocks by market capitalization ==
''In alphabetical order''
{| class="wikitable"
{| class="wikitable"
|+ Stocks
! Company
! Company
! Symbol
! Symbol
! Industry
! Industry
! Market capitalization<br>(millions Ł)
|-
|-
| [[A. Zani & Fio]]
| [[A. Zani & Fio]]
| {{mono|AZF}}
| {{mono|AZF}}
| Alcohol
| Food and beverage
|
|-
|-
| [[Aeracara]]
| [[Aeracara]]
| {{mono|AERA}}
| {{mono|AERA}}
| Aviation
| Aviation
|
|-
|-
| [[Bànca Ultramarìn]]
| [[Bànca Ultramarìn]]
| {{mono|UL}}
| {{mono|UL}}
| Commercial banking
| Commercial banking
|
|-
|-
| [[BMM]] {{wp|Joint-stock company|s.a.i.}}
| [[BMM]] {{wp|Joint-stock company|s.a.i.}}
| {{mono|BMM}}
| {{mono|BMM}}
| Financial services and media
| Financial services and media
|
|-
|-
| [[Cervelli]]
| [[Cervelli]]
| {{mono|CRV}}
| {{mono|CRV}}
| Luxury goods, tobacco
| Tobacco, luxury goods
|
|-
|-
| [[Crèdit Montecarà]]
| [[Crèdit Montecarà]]
| {{mono|CM}}
| {{mono|CM}}
| Commercial banking  
| Commercial banking  
|
|-
|-
| [[De Craxi]]
| [[DeCraxi]]
| {{mono|X}}
| {{mono|X}}
| Insurance
| Financial services
|
|-
|-
| [[Farmalab]]
| [[Farmalab]]
| {{mono|FM}}
| {{mono|FM}}
| Pharmaceuticals
| Pharmaceuticals
|
|-
|-
| [[Gironès]]
| [[Gironès]]
| {{mono|GIR}}
| {{mono|GIR}}
| Specialty chemicals
| Specialty chemicals
|
|-
|-
| [[ia Càra]] {{wp|Joint-stock company|s.a.i.}}
| [[ia Càra]] {{wp|Joint-stock company|s.a.i.}}
| {{mono|CARA}}
| {{mono|CARA}}
| Publishing
| Publishing
|
|-
|-
| [[M&A]]
| [[M&A]]
| {{mono|MA}}
| {{mono|MA}}
| Shipping  
| Shipping  
|
|-
|-
| [[Nuvola]]
| [[Nuvola]]
| {{mono|NU}}
| {{mono|NU}}
| Medical devices  
| Medical devices  
|
|-
|-
| [[Pelicàn]]
| [[Pelicàn]]
| {{mono|PEL}}
| {{mono|PEL}}
| Shipping
| Shipping
|
|-
|-
| [[Polar]]
| [[Polar]]
| {{mono|PO}}
| {{mono|PO}}
| Oil and gas
| Food and beverage
|
|-
|-
| [[SDB Montecara]]
| [[SB Montecara]]
| {{mono|SDB}}
| {{mono|SBM}}
| Football
| Professional sports
|
|-
|-
| [[Sgarbata]]
| [[Sgarbata]]
| {{mono|SG}}
| {{mono|SG}}
| Clothing and accessories
| Clothing and accessories
|
|-
|-
| [[Sicurasiò Xenèra]]
| [[Sicurasiò Xenèra]]
| {{mono|SX}}
| {{mono|SX}}
| Insurance
| Insurance
|
|-
| [[SpFA]]
| {{mono|FA}}
| Merchant banking
|-
|-
| [[Tieri]]
| [[Tieri]]
| {{mono|TI}}
| {{mono|TI}}
| Food and beverage
| Food and beverage
|
|-
|-
| [[Vapòri Nereà]]
| [[Vapòri Nereà]]
| {{mono|VN}}
| {{mono|VN}}
| Shipping
| Shipping
|
|}
{| class="wikitable"
|+ Bonds
! Bond
! Symbol
! Type
! Currency
! Coupon
|-
| Montecara 10-year bearer
| MTC P10
| {{wp|Government bond|Sovereign}}
| [[Montecaran libra|MCL]]
| {{wp|Zero-coupon bond|none}}
|}
|}


== Futures ==
{| class="wikitable"
{| class="wikitable"
|+ Futures
! Item
! Item
! Symbol
! Symbol
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|-
|-
| Crude oil
| Crude oil
|
| {{mono|P}}
| 1,000 {{wp|Barrel (unit)|barrels}} (Mbbl)
| 1,000 {{wp|Barrel (unit)|barrels}} (Mbbl)
|-
|-
| Natural gas
| Natural gas
|
| {{mono|GN}}
|  
| 100 {{wp|Gigajoule|gigajoules}} (GJ)
|-
|-
| Cotton
| Cotton
|
| {{mono|CT}}
| 20 {{wp|Tonne|tonnes}} (t)
| 20 {{wp|Tonne|tonnes}} (t)
|-
|-
| Olive oil
| Olive oil
|
| {{mono|OLO}}
| tonne (t)
| tonne (t)
|-
|-

Latest revision as of 15:47, 22 August 2023

Borse Mercànte de Montecara
Piazza De Ferrari.jpg
TypeSecurities exchange
Founded1563
OwnerBMM s.a.i.
CurrencyMontecaran libra, Euclo
Market cap$789 billion (Q4 2019)
Volume$1,148 billion (Q4 2019)
Websiteborse.mc

The Borse Mercànte de Montecara (Montecaran, Merchant Exchange of Montecara) is the stock exchange in the city-state of Montecara. It is the oldest stock exchange in the world, founded in 1563, and remains one of the largest by market capitalization and trading volume after the Jindao Stock Exchange and Weisstadt Stock Exchange.

The Borse operates Monday through Friday from 09:30 to 12:30 and 14:00 to 17:00, excluding holidays. It has a traditionally close relationship with the newspaper Il Finansiér, which was long the sole source of daily market numbers. The Borse's parent company, BMM s.a.i., has owned Il Finansiér since 1997. Trading was originally done by open outcry, but in 1999 the Borse adopted electronic trading to the exclusion of the traditional system.

History

The Borse directly grew out of informal trading groups that operated out of Montecara's cafes in the early and mid-16th century. Cafes frequented by merchants and those interested in investing in the sea trade began to collect useful information, including ship schedules, commodity prices, and lists of owners in then-novel joint-stock companies. This informal network grew along with the need to consolidate trade into a single market, and the Borse was thus created in 1563. The concept of allowing anyone to buy and sell stock in a company was radical for the mid-16th century and remained virtually unheard-of in most of the world until the mid-19th century.

Prices were traditionally given in libra and onçiá, a non-decimal system with base 12. The Borse was decimalized in 1989.

Ownership and management

The Borse is owned by BMM s.a.i., a publicly traded company which is itself listed on the Borse. The Montecaran state owns 21.3% of the company's stock through Montepietà, its sovereign wealth fund.

Daily operations are managed by a board of directors elected by the parent company's stockholders. The Borse is organized into operating divisions based on trading activity:

Companies listed on the Borse must be incorporated in Montecara, and their stock price must not close below Ł100 for thirty consecutive days.

The bond market is the single largest component of the Borse by number of listings, with over 1,000 sovereign, municipal, corporate, and foreign-denominated debt securities. It is the world leader in euclobonds. The Borse attracts issuers from around the world thanks to its large investor base, high profile, efficient price discovery, favorable tax and regulatory environment, and the socio-political stability that Montecara provides. Listing with the Borse also affords overseas entities access to Euclean investors without having to navigate EC red tape. Debt securities listed on the Borse must not mature in less than thirty days and must meet certain standards for credit and quantity of issue.

The Borse is the main secondary market for Montecaran bonds. Bonds with maturities ranging from 30 days to 50 years are sold on the exchange.

Top 20 stocks by market capitalization

In alphabetical order

Company Symbol Industry
A. Zani & Fio AZF Food and beverage
Aeracara AERA Aviation
Bànca Ultramarìn UL Commercial banking
BMM s.a.i. BMM Financial services and media
Cervelli CRV Tobacco, luxury goods
Crèdit Montecarà CM Commercial banking
DeCraxi X Financial services
Farmalab FM Pharmaceuticals
Gironès GIR Specialty chemicals
ia Càra s.a.i. CARA Publishing
M&A MA Shipping
Nuvola NU Medical devices
Pelicàn PEL Shipping
Polar PO Food and beverage
SB Montecara SBM Professional sports
Sgarbata SG Clothing and accessories
Sicurasiò Xenèra SX Insurance
SpFA FA Merchant banking
Tieri TI Food and beverage
Vapòri Nereà VN Shipping

Futures

Item Symbol Unit traded
Crude oil P 1,000 barrels (Mbbl)
Natural gas GN 100 gigajoules (GJ)
Cotton CT 20 tonnes (t)
Olive oil OLO tonne (t)
Gold XAU troy ounce (oz t)
Platinum XPT troy ounce (oz t)
Silver XAG troy ounce (oz t)
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