World's Largest Stock Exchanges by Market Capitalisation 2025

About This Dataset

The world's largest equity markets ranked by total domestic market capitalisation in 2025, measured in trillions of USD. The New York Stock Exchange remains the world's largest stock exchange by a wide margin, with a market cap exceeding $28 trillion — greater than the next three exchanges combined.

✨ AI Insight

The market capitalisation figures reveal a stark contrast between the leading exchanges and their competitors. The NYSE and NASDAQ together account for over $54 trillion, dwarfing the combined market caps of the next three exchanges—Shanghai SE, Euronext, and Tokyo SE—totaling just $21.2 trillion. This disparity underscores the robust performance of U.S. equities, likely driven by technological advancements and a diverse range of investment opportunities. Meanwhile, exchanges like the London SE, with a market cap of only $3.8 trillion, indicate a relative stagnation in Europe compared to the explosive growth seen in Asian markets, particularly in technology sectors.

Source: Wikipedia

Key Findings

Auto-computed highlights from this dataset

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NYSE leads with 29 in 2025.

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Average value in 2025: 11 · median: 7.

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Gap in 2025: NYSE is 7.5× larger than London SE.