Although far behind the New York Stock Exchange and Nasdaq in total market cap, Japan Exchange Group continues to dominate the global stock exchange landscape with the highest number of listed companies.

According to data presented by AltIndex.com, the Japan Stock Exchange Group counted over 3,900 listed companies last month, or 400 more than the Nasdaq and 1,500 more than the New York Stock Exchange.

The World’s Largest Stock Exchange Operator has the Fifth Largest Market Cap

When it comes to the total number of listed companies, Japan Exchange Group is far above any other stock exchange in the world. According to the World Federation of Exchanges data, the Tokyo-based stock exchange had 3,901 listed companies in September, 1.8% more than a year ago. Of these, only six were foreign companies, with the remaining being domestic. Moreover, the WSE data showed the number of listed companies in the Japan Stock Exchange had continuously been growing over the past decade, something not many US or European stock exchanges can say.

Canadian TMX Group was the second-largest stock exchange operator globally, with 3,594 listed companies last month. Nasdaq ranked third with 3,525 listed companies, or nearly 400 less than the Japan Stock Exchange. Also, statistics show the American stock exchange giant saw the number of listed companies drop by almost 7% year-over-year. On the other hand, Nasdaq tops the number of international companies, with 823 as of September.

Shenzhen Stock Exchange, Hong Kong Exchanges and Clearing, and Korea Exchange followed with 2,809, 2,606, and 2,515 listed companies, respectively.

Despite having the seventh-highest number of companies, or 2,325 as of September (6.3% less than a year ago), the New York Stock Exchange had the highest market cap of any stock exchange operator. Last month, the equity market cap of the NYSE topped nearly $25 trillion, or four times more than the Japan Exchange Group. The following three exchanges were the NASDAQ, the Shanghai Stock Exchange, and the Euronext, with market caps of $22.2trn, $7.1trn and $6.9trn, respectively.

Asian Stock Exchanges Count 30% more Listed Companies than US and European Stock Exchanges Combined

The regional comparison of the number of listed companies also shows the huge dominance of the Asian stock exchanges. Last month, all stock exchanges in the Asia Pacific region counted 31,099 listed companies, 1.1% more than in September last year, and nearly 30% more than European and US stock exchanges combined.

Far below, the EMEA region followed with 13,490 listed companies, or 10% less than in the same month a year ago, showing the biggest decrease of all regions. Americas ranked below EMEA with 10,967 companies listed in stock exchanges last month, or 3.7% less than in September last year.