Amid the current financial turmoil, the value of the worlds listed exchanges continue to drop, and this says Herbie Skeete, Managing Director, Mondo Visione, could provide investors with a bargain.
The Index, which aims to reflect market sentiment and is a key indicator of exchanges performance, was down 18.9 per cent in October continuing the steady decline and reflecting current global market conditions.
Herbie Skeete, also Co-founder of the Index adds:
“Exchanges are preparing for the new normal by slimming down, re-tooling and re-arming. Trading systems are being revamped and costs are being cut with a vengeance as exchanges confront competition from new entrants and anticipate a downturn in trading volumes.”
The Index closed at 17779.52 on 31 October 2008, down from 21911.77 on 30 September 2008. Year to date, the Index has decreased by 63.1 per cent.
The FTSE/Mondo Visione Exchanges Index best performer by capital returns in US dollars, was NASDAQ OMX Group Inc. with a 6.2 per cent increase in the share price from September 30 to October 31, 2008.
The FTSE/Mondo Visione Exchanges Index worst performer by capital returns in US dollars, was the London Stock Exchange with a 41.4 per cent decrease in the share price from September 30 to October 31, 2008.
