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| Paris, France Global
Securities Exchanges
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| Executive Summary | 03 | |
| Overview | 04 | |
| Industry Trends | 05 | |
| Demutualization | 05 | |
| Business Environment Changes | 07 | |
| Consolidations | 09 | |
| Major Equity Exchanges | 12 | |
| Exchanges' Revenue Structure | 12 | |
| Equities Trading Volume and Value | 14 | |
| Listing Services | 18 | |
| Other Services | 20 | |
| Major Derivatives Markets | 23 | |
| Derivative Market Trends | 24 | |
| Major Derivative Products | 26 | |
| Derivative Exchanges' Revenues | 29 | |
| Conclusions | 31 | |
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