Writing

Extract 1. The American Stock Exchange

Located only blocks from the New York Stock Exchange, the American Stock Exchange (AMEX), which was founded during the 1790s, is the stock market for small companies and small investors. The stock issues of organizations that do not meet the listing and size requirements of the NYSE are commonly traded on the AMEX. Once known as the "New York Curb Exchange" because dealers traded on the street outside brokerage houses in the New York financial district, the AMEX moved indoors in 1921.

Trading on the AMEX reached new heights as the 1990s drew to a close. Average daily trading volume was a record 29 million shares in 1998, up from the previous high of 24.4 million set only a few years earlier. More than 7.3 billion shares changed hands on the AMEX in 1998, up from 6.1 billion a year earlier. By 2000, the number of shares traded on the AMEX had reached 13.318 billion. On the NYSE, by contrast, 307.5 billion shares valued at $10.5 trillion changed hands in 2001, an increase of 17 percent over the 262.5 billion shares traded in 2000

(http://www.answers.com/topic/market-1).

Extract 2. Tunisia Stock Exchange

The Stock Exchange of Tunisia which is known as Tunis Stock Exchange is a small but effective African stock exchange. When the state enterprises became private, the activity of the Tunis Stock Exchange should be increased.

In 1969, Tunis Stock Exchange was formed and at present, more than 20 companies are listed on this exchange. However, this exchange was initially formed in 1969, but until 1995, it was an integral component of the Tunisian financial market. Later on, Tunis Stock Exchange was privatized. For the last two years, the stock market represents the sanguinity of the Tunisian economy with comprising an average of 30% return. In 1996 and 1997, the Stock Exchange faced many difficulties but in 1998, reforms took place to increase effectiveness and lucidity. With the launching of a new trading system based on the French SUPERCAC electronic trading system, this exchange assures a high degree of price lucidity.

Currently, the BVM Index is a list of the all companies which trades on the Tunisia Stock Exchange. In April 1998, a new index known as TUNINDEX was launched to the Tunisia Stock Exchange.

Still today, the stock exchange of Tunisia remains small with overall market capitalization of approximately $3.6 billion but in 1999, its performance was extremely well with a price-to-earnings ratio of 12. In 2006, the growth of trade volume was 57 percent, which was non-speculative.

At present, 25 percent of the total market capitalization is acquired by foreigners.

Following the growth of the economy, the total market capitalization of Tunisia stock exchange also developed.

(http://finance.mapsofworld.com/stock-market/tunisia-stock-exchange.html)

Assignment: Now compare and contrast the two stock markets described in the two extracts. Brainstorm with two of your classmates first as to how to organize your essay.