CEO's Blog

Diversity On World Stock Exchanges

Stock exchanges play an important function in overseeing the companies listed on them. They set the tone for risk management and corporate governance.

A simple question answered by facts.

How diverse are the boards of World Stock Exchanges?
Viewing data of global exchanges

Stock Exchange # of Women Size of the Board Diversity %
Johannesburg Stock Exchange 6 14 43%
Intercontinental Exchange ICE (NYSE) 1 14 7%
London Stock Exchange 2 + 1 = 3 (As of Aug 17 2014) 14 14% > to 21%
NASDAQ OMX 2 11 18%
Japan Stock Exchange 1 14 7%
Oslo Bors Stock Exchange 3 7 43%
Dubai Financial Market 0 5 0%
BM&F BOVESPA (Brazil) 0 10 0%
Australia Stock Exchange 2+1 = 3 (As of Feb 9th 2015) 8 + 2 = 10 (Feb 2015) 25%> to 30%
Bombay Stock Exchange 0 8 0%
Toronto Stock Exchange 3 17 18%

The Johannesburg stock exchange “JSE” is the largest stock exchange in Africa. When you look at its board makeup and composition, six of the fourteen are women. A huge number almost ~43%. Comparing this to The Intercontinental Exchange (NYSE parent), only one of its fourteen members is a women.

Across the Atlantic Ocean in Europe, the London Stock Exchange (LSE), one of the oldest stock exchanges in the world; two of the fourteen only are women. (Update as of August 17th 2014  three of fourteen) The Nasdaq OMX a bit better % wise because it’s has a smaller board size.

Norway which implemented quotas for women, its Oslo Stock exchange three of the seven almost ~43% are women.

Is this the best role model? When we have to bench mark against in comparing with peers.

I have more questions than answers viewing the data above?

1) Can the numbers be grown in Western developed countries first?

2) Will new developing exchanges, coming from emerging and frontier markets (MSCI) continue to outpace developed modern electronic exchanges?

One thing is certain more can be done and should be done when our planet is diverse. Almost half the population on the planet is a different gender. Many qualified and well deserving females and diverse candidates can bring new insights to the exchanges at the board level.


Websites of the world stock exchanges was checked on 6/12/2014 Data
Photo courtesy of

Have your say