期刊名称：Petroleum-Gas University of Ploiesti Bulletin : Economic Sciences Series
印刷版ISSN：2284-8576
电子版ISSN：2247-8582
出版年度：2006
期号：1
页码：83-88
出版社：Petroleum-Gas University of Ploiesti
摘要：Commodities and stock exchanges operate in a dynamic and competitive environment, due to the globalization on economic activity. Individual and institutional investors wish to derive the maximum benefit from financial markets using speculation and hedging operations. In order to gain much, investors are interested on international markets because they try to reduce the risk through portfolio diversification or to have access to innovative products launched by foreign stock exchanges. In order to meet their clients demand, the stock exchanges are in a development process, characterized by mergers and a cquisitions and innovation of financial products
关键词：stock exchanges; innovation; integration; and consolidation
