GLOBAL STOCK EXCHANGE
The idea of only one stock exchange is a foreign concept for readers used to today’s financial environment. Turn on any news channel, and you will see financial reports showing multiple indexes (DJII, NASDAQ, S&P 500, FTSE 100, Nikkei 225) from stock markets spanning the globe. In 2016, there were around 56 exchanges, but mergers and other changes means that number is constantly in flux. The largest were NYSE Euronext (soon ICE), the London Stock Exchange, NASDAQ OMX, Shanghai, and Tokyo. With the merger of BATS and DirectEdge, there was movement of consolidation of exchanges long before the financial meltdown in 2029.
So why was only one stock exchange created following the economic collapse? There are three reasons. The first is the inherent distrust of the markets and their role in almost bringing the downfall of human society. Creating Intercorpex was risky enough for corporations still trying to consolidate their power. The second is that only patricians, the top 3% of the world population (at most), are allowed to trade on it. Since Intercorpex operates on a 24-hour schedule, there is no need for multiple exchanges. Third, and last, is simplicity and the notion in the story that Intercorpex would never allow additional exchanges to be created without them running it. To increase their influence, the lower market, the GSCI, was created under their umbrella partly as a means to discourage any form of competition.
The number of members on the exchange in 2088 is small – Intercorpex has 34. That seems artificially low, and critics will say it is not enough to generate the volume needed to have a successful marketplace. While this may be a valid criticism, in 2016, Malta only had 19 symbols listed and Myanmar had one when it opened. There may be some with less than 19 not listed in the world federation of exchanges. Low numbers are not unprecedented, and as trading on the Intercorpex Global Index (IGI) is usually restricted to the gentez major, there are more than enough shares available to make it a viable marketplace in this world.