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Top 10 most valuable global stock exchanges in 2025: Nasdaq has overtaken the Chicago Mercantile Exchange (CME) to become the world’s most valuable stock exchange brand for the first time, according to the latest Brand Finance Exchanges 2025 report.
Nasdaq’s brand value rose 33 per cent to USD 3.1 billion, edging past CME, which grew 24 per cent to USD 3 billion.
Overall, all ten of the world’s most valuable exchanges recorded growth this year, with seven posting gains of over 20 per cent. Notably, five of the top six are US-based.
Hong Kong Exchanges and Clearing Limited (HKEX) ranks third, with a brand value of USD 2.5 billion. HKEX also emerges as the world’s strongest exchange brand, with a BSI score of 89.1 out of 100 and an AAA rating.
| 2025 Rank | Name | Country | 2025 Brand Value (USD) | 2025 Brand Value (INR) | 2025 Brand Rating |
| 1 | Nasdaq Stock Market (Nasdaq) | USA | $3,095M | ₹258,816M | AAA |
| 2 | Chicago Mercantile Exchange (CME) | USA | $2,997M | ₹250,583M | AAA- |
| 3 | Hong Kong Exchanges and Clearing (HKEX) | Hong Kong | $2,489M | ₹208,089M | AAA |
| 4 | New York Stock Exchange (NYSE) | USA | $2,293M | ₹191,762M | AAA- |
| 5 | Intercontinental Exchange (ICE) | USA | $2,086M | ₹174,449M | AA+ |
| 6 | Cboe Global Markets (Cboe) | USA | $897M | ₹74,998M | AA+ |
| 7 | Singapore Exchange (SGX) | Singapore | $591M | ₹49,379M | AAA |
| 8 | SIX Swiss Exchange (SIX) | Switzerland | $583M | ₹48,706M | AA |
| 9 | National Stock Exchange of India (NSE) | India | $526M | ₹43,977M | AA+ |
| 10 | Eurex Exchange (Eurex) | Germany | $460M | ₹38,484M | AA |
Source: Brand Finance – Exchanges 10 2025
The National Stock Exchange of India (NSE) is ranked #9, with brand value increasing 39 per cent to USD 526 million this year, in Brand Finance’s Exchanges 10 2025 rankings.
NSE is also ranked as the #7 strongest exchange brand with 78.1 (out of 100) Brand Strength Index (BSI) score and an AA+ brand strength rating.
In FY2023-24, NSE’s revenue increased 25 per cent year on year to INR14,780 crore (about USD1.78 billion), while net profit increased 13 per cent to INR 8,306 crore (approximately USD1.0 billion), according to the report.
The NSE’s rise reflects India’s rapid capital market momentum and growing presence on the global financial scene.
