As in other global exchanges, high-frequency trading has grown in importance and now constitutes 40% of the value of all trades on the Tokyomarket, according to exchange figures, up from 20% in mid-2010.
Tokyo's Mothers exchange and Hong Kong's GEMS market never lived up to their promise and suffered from the same rash of not-ready-for-prime-time listings as the Neuer Markt.
For example, Shanghai Stock Exchange ranks sixth in terms of market capitalization, after NYSE, NASDAQ, London, Tokyo, and HK exchanges, but fourth in trading volume, after NYSE, NASDAQ and very close to Tokyo.