As the day begins in each part of the world, there is a flow of stock trading. Of the major markets in the world, the first to open are the countries nearest the International Date Line. This means New Zealand’s market opens first, followed by Sydney (Australia), Tokyo, Hong Kong, Singapore, Mumbai (India), and Moscow. Europe then follows, with Switzerland, Europe Xetra, France, Germany’s Frankfurt and London, followed by Toronto, New York and finally Chicago.
Stocks are typically traded at a stock exchange in a brick-and-mortar building, though increasingly they are being traded in virtual environments.