Exchanges in the U.S. have steadily lost their grip on the largest initial public offerings over the past decade, according to a study by a U.S. Chamber of Commerce-backed commission. Both the London Stock Exchange and the Euronext in Amsterdam have claimed a larger market share than U.S. exchanges this year. London took nearly 30% of the largest listings. U.S. exchanges claim roughly 12%.
The top IPOs mirrors the larger trend. Overall, the U.S. has lost market share in the worldwide market for public listings over the last decade. Exchanges in the Asia-Pacific region claimed more than 45% in 2005. The U.S. share is around 15%. In 1996, U.S. exchanges carried more than 30% of all listings.
The Commission on the Regulation of U.S. Capital Markets in the 21st Century released the data ahead of a report recommending ways to give U.S. capital markets a boost. It plans on unveiling an agenda to reform legislation and regulations governing capital markets on March 14, 2007.