Figure 4 shows a map that locates the ten largest stock exchanges as of 2018 according to market capitalisation. The names, locations and sizes (US$) of these exchanges are: New York Stock Exchange (NYSE), New York, $23.12 trillion; NASDAQ, New York, $10.93 trillion; Tokyo Stock Exchange, Tokyo, $6.22 trillion; Shanghai Stock Exchange, Shanghai, $5.01 trillion; Honk Kong Stock Exchange (HKEX), Honk Kong, $4.46 trillion; London Stock Exchange (LSE), London, $4.38 trillion; Euronext, Amsterdam, $4.36 trillion; Shenzhen Stock Exchange, Shenzhen, $3.49 trillion; Toronto Stock Exchange (TSX), Toronto, $2.29trillion; Deutsche Boerse, Frankfurt, $2.22 trillion.