in 2004

MARKET CAPITALIZATION
OF LISTED SECURITIES, 2004
10%
33%
6% 1%
50%
SHARES (50%)
GOVERNMENT BONDS (33%)
TREASURY BILLS (10%)
OTHER BONDS (6%)
CONVERTIBLES (1%)
14
(1)
TABLE 5: DAILY TURNOVER, 1995-2004
(US $ millions)
Year Shares & convertibles Bonds Treasury Bills
1995
37
36
47
1996
33
56
35
1997
59
55
27
1998
62
78
37
1999
86
63
39
2000
115
74
48
2001
64
131
50
2002
51
159
78
2003
80
160 107
2004
147
214 140
Change in 2004 84% 34% 31%
(1) Including off-the-floor transactions.
TABLE 6: MARKET CAPITALIZATION OF LISTED SECURITIES, 1995-2004
(US $ billions)
Year Shares & convertibles Bonds Total
1995
36.5
36.9
73.4
1996
35.9
40.7
76.6
1997
46.4
40.9
87.3
1998
40.9
37.4
78.3
1999
65.4
39.7 105.1
2000
66.8
41.4 108.2
2001
57.6
44.0 101.6
2002
42.6
45.0
87.6
2003
70.4
57.6 128.0
2004
92.1
69.5 161.6
TABLE 7: CAPITAL RAISED BY SECURITY TYPES, 1995-2004
(US $ millions)
Year
(1)
Shares & convertibles Government Bonds Other Bonds
1995
733
4,928
-
1996
760
7,621
15
1997
2,158
5,008
356
1998
2,116
6,561
592
1999
1,504
6,397
383
2000
3,320
5,096
67
2001
1,327
9,385
639
2002
1,206
9,529
999
2003
746
9,681 1,386
2004
3,636
8,026 3,247
Change in 2004 387% (17%) 134%
(1) Including direct offres, private placements, exercise of warrants and issues of dual-listed
companies floated in the U.S and Europe.
Annual Review 2004