ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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The Capital Market in 21st Century

Stock exchanges as we understand them today may not be there in about two decades. The first major transformation is growing cross-country listings. The other major development relates to mergers and strategic partnership among stock exchanges of different countries. The sum total of these developments will be the emergence of large global exchanges beyond the regulatory purview of any national regulator. One should not thus rule out the emergence of an international organisation such as the WTO for maintaining 'law and order' in the global capital markets.

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