Like the internet.....which should remain a free, unfettered means of communication that connects the world.......so should a worldwide universal stock exchange.... Zero cost interest non-obligatory debt is too important to the highest and best use of the world's resources.... Each country has its advantages and this is reflected through its companies..... If globalization is to truly be a viable concept....then a universal stock exchange is also required.... The key is to make unbiased fact based timely information internet based much like WIKI....in the language desired.... Of course the second key is to exhibit the market via companies such as BATS, whereby the computer banks could be domiciled anywhere in the world.....Commissions should be basically non-existant as to not impair the efficiency of capital.... Leverage will no longer be allowed....but stock shares will be offered to reflect the leverage....A share is nothing but an electronic entry....ie IBM would have a 1x..2x..4x..10x share representation.... In today's marketplace...one could buy a highly volatile stock whereby even at 1x, is more risky than a blue chip at 4x.....Thus it is the computer entry label that matters..... Also bond units could be minimized and traded like stocks....in that electronic entries are very simple....with simple math dividers.... ..................................................... What this does.... What this does is that it opens the door to more liquidity and capital....It also corrects the inherent conflicts which went awry in WS firms.... Most importantly.....it makes the world a more efficient place...with better allocation and access to resources.....worldwide....making for a better and more informed world..... This is not a business that belongs to a bank....this is a business that belongs to all countries.....