Valuation of a Stock Exchange
Hi all,
Anyone knows how to value a stock exchange (eg: Nasdaq, NYSE) on a granular level (revenue drivers, cost drivers)?
Usually, a stock exchange revenues can come from 1-Fixed Income & Equities, 2 - Derivatives, 3- Data and Connectivity. I can imagine that one segment of the revenue would contain this formula DDAV x Trading Days in a Year x Average Clearing Fees.
How about turnover velocity? ADT? Membership Revenue. If anyone has an excel template, it would be awesome! I could trade other models such F&B (Palm Oil, QSR), Tech (GMV), Energy (Water Recycling Plant) for stock exchange model.
Thank you! :)
Hi Lim-Caleb, any of these topics helpful:
I hope those threads give you a bit more insight.
Thank you bot for the help but I don't think this question has been raised in the forum.
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