COMPARISON OF EUROPEAN CAPITAL MARKETS

Financial systems in European post-communist countries have been developing for two decades of market transformation, and in majority of Central and Eastern European states capital markets were created. Therefore the aim of the paper is to compare the level of development of these stock exchanges to the ones in developed economies. In the paper the analysis of capital markets, affiliated with the Federation of European Securities Exchanges (FESE) is provided. Investigation concerns the situation on stock exchanges in Europe in the time span 2000-2011, with the special emphasis on the stock exchanges operating in the post-communist states. The research is provided on the basis of FESE data, using single and multidimensional analysis. The European stock exchanges are classified to the homogenous groups applying synthetic measure of development.