Rangoon Stock Exchange

Last updated
Rangoon Stock Exchange
Type Stock exchange
Location Yangon, Myanmar
Founded 1930s
Currency Burmese rupee
Myanma kyat
No. of listings 9

The Rangoon Stock Exchange was a secondary over-the-counter (OTC) stock market that operated in Yangon from the 1930s to 1941 and from the late 1950s to the early 1960s. The fledgling exchange, operated by seven European firms, was a secondary OTC market for a few British and American stocks with most of the quotes sourced from Calcutta and Bombay Stock Exchanges. It closed down at the outbreak of World War II in 1941. It was revived in the late 1950s to trade shares of nine public-private joint-venture corporations. But this OTC market too died in the 1960s when all the firms were nationalized by Gen. Ne Win's military government that seized power in 1962. [1]

Over-the-counter (finance) trading done directly between two parties

Over-the-counter (OTC) or off-exchange trading is done directly between two parties, without the supervision of an exchange. It is contrasted with exchange trading, which occurs via exchanges. A stock exchange has the benefit of facilitating liquidity, providing transparency, and maintaining the current market price. In an OTC trade, the price is not necessarily published for the public.

Yangon Metropolitan City in Yangon Region, Myanmar

Yangon, formerly known as Rangoon, is the capital of the Yangon Region and commercial capital of Myanmar. Yangon served as the administrative capital of Myanmar until 2006, when the military government relocated the administrative functions to the purpose-built city of Naypyidaw [nèpjìdɔ̀] in central Myanmar. With over 7 million people, Yangon is Myanmar's largest city and its most important commercial centre.

Calcutta Stock Exchange Stock exchange located in Kolkata, India

Calcutta Stock Exchange, also abbreviated to CSE, located at the Lyons Range, Kolkata, India, is the second oldest stock exchange in South Asia. It was incorporated in 1908 and is the second largest bourse in India. The Calcutta Stock Exchange has been asked to exit by SEBI but the matter is subjudice before Calcutta High Court while other 13 regional stock exchanges have closed in the last three years under the exit policy of SEBI, including Bangalore Stock Exchange, Hyderabad Stock Exchange and Madras Stock Exchange

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References

  1. Yin Yin Mya 2000: 54

Bibliography

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