ABSTRACT
This chapter describes the activities in international stock market transactions, both those that involve new issues of equity securities and those that occur in secondary markets. It explores the expanding role of New York City as one of the global financial centers in the market for international equity transactions. As rapidly as the volume in international equity transactions has grown, only modest progress has been realized in terms of the integration of the different stock markets of the world. The international equities market is not a clone of the Eurobond market, but it has proven to be equally resourceful in adapting itself to the new and varied requirements of its principal users. Participation in international equity investments is comparatively new for US and Japanese investors but not for Europeans. Just behind the Swiss as international investors might have appeared the British who have had a long history of overseas portfolio investment.
