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29-411: NSE may refer to: Stock exchanges [ edit ] Nagoya Stock Exchange , Japan Nairobi Stock Exchange , Kenya Nigerian Stock Exchange , Lagos National Stock Exchange of India (NSE), Mumbai, India National Stock Exchange, the former name of Vilnius Stock Exchange , Lithuania Transportation [ edit ] Network SouthEast ,

58-556: A mutual holding company (MHC) . In any type of demutualization, insurance policies, outstanding loans, etc., are not directly affected by the organization's change of legal form. Mutual holding companies are not allowed in New York where attempts by mutual insurance to pass permissible legislation failed. Opponents of mutual insurance holding companies referred to the establishment of mutual holding companies in New York as "Legalized Theft". Some MHC demutualizations have been planned as

87-478: A United Kingdom-based epilepsy charity New Schubert Edition , a 20th–21st century edition of the complete works of Franz Schubert Non-Speaking Extra, an extra NSE: Net Sphere Engineer , a 2004 manga by Tsutomu Nihei Nu Skin Enterprises , a direct selling multi-level marketing company Topics referred to by the same term [REDACTED] This disambiguation page lists articles associated with

116-420: A customer-owned mutual organization ( mutual ) or co-operative changes legal form to a joint stock company . It is sometimes called stocking or privatization . As part of the demutualization process, members of a mutual usually receive a "windfall" payout , in the form of shares in the successor company, a cash payment, or a mixture of both. Mutualization or mutualisation is the opposite process, wherein

145-682: A device that helps computer network routers accelerate one of the most common functions: searching for patterns/addresses in data packets Network Software Environment, an early project aware revision control system implemented on top of the Source Code Control System Nmap Scripting Engine, a feature of the Nmap security scanner that allows users to write (and share) simple scripts Science [ edit ] Navier–Stokes equations , describing motion of fluid substances Neuron-specific enolase ,

174-763: A former sector of British Rail North–South Expressway (Malaysia) North–South Expressway, Singapore Norwegian Air Sweden , a Swedish low-cost airline Education [ edit ] Norwegian School of Economics , a business school in Bergen, Norway National Spanish Examinations , an online assessment for students studying Spanish as a second language in the United States National Student Exchange , an exchange program for American and Canadian undergraduate students Computing [ edit ] Namespace Shell Extension, see shell extension Network Search Engine ,

203-447: A shareholder-owned company is converted into a mutual organization, typically through takeover by an existing mutual organization. Furthermore, re-mutualization depicts the process of aligning or refreshing the interest and objectives of the members of the mutual society . The mutual traditionally raises capital from its customer members in order to provide services to them (for example building societies , where members' savings enable

232-486: A similar process of demutualization and was publicly traded. SIX Group , a global financial service provider based in Switzerland, represents an extra ordinary form of a mutualised organisation. The owners are limited to an exclusive group of service consumers, in particular Swiss and foreign banks. This entails a closer relationship with the customer, since a customer might influence the customer-oriented behavior by

261-499: Is an enzyme used to identify neuronal cells and cells with neuroendocrine differentiation Neutron spin echo , an spectroscopic method, using inelastic neutron scattering Nash Sutcliffe model efficiency coefficient , a statistical index Other uses [ edit ] National Support Element , a military term for a supply and support unit deployed primarily in Hungary National Society for Epilepsy ,

290-576: Is another large example. A building society is a form of mutual mortgage provision organization that emerged in the UK in the 19th century, for personal savings and home mortgages. For much of the 20th century, building societies had a large share of the retail savings market, and they had their zenith after the deregulation under the Building Societies Act 1986. Following that Act, many of the larger societies, beginning with Abbey National ,

319-550: Is the successor to the Nagoya Stock Exchange Co. Ltd., which was founded in 1886. It was founded in 1949 as a corporation with securities companies as members under the terms of the Securities and Exchange Law. In 2002, Nagoya Stock Exchange, Inc. was established after demutualization of NSE. The Nagoya Stock Exchange is a stock corporation that provides an Exchange Securities Market under authorization of

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348-500: The Nationwide Building Society , the largest remaining mutual, adopted poison pill clauses in their rules as a defense against carpetbaggers. These took the form of a charitable assignment provision that requires new members to assign any compensation from demutualization to charity. The UK motorists' organization, The Automobile Association , demutualized and was purchased by Centrica plc in 1999. The sale

377-585: The Australian Exchange (1998) and Toronto, Hong Kong and London Stock Exchanges in 2000. The Chicago Mercantile Exchange became a shareholder-owned public corporation in 2000 through a public offering . "The road to this initial public offering began in June 2000, when Exchange members voted overwhelmingly to transform the then not-for-profit, membership-owned organization into a for-profit, shareholder-owned corporation. On November 13, 2000, CME became

406-813: The Prime Minister. The Nagoya Stock Exchange is one of the regional stock exchanges in Japan, together with the Fukuoka Stock Exchange and the Sapporo Securities Exchange. It is also known as Isemachi , after the name of the street on which it is located. As a result of the concentration of the Tokyo Stock Exchange , its share of trading volume is low and the amount of listings has gradually decreased over time. Trading takes place from Monday to Friday with

435-528: The changes to the structure of the Union Insurance Society of Canton initiated by its secretary N.J. Ede between 1873 and 1882 leading to its re-registration as a limited company having originated as a mutual assurance society for traders in Canton in 1835. There are three general methods in which an organization might demutualize, full demutualization , sponsored demutualization , and into

464-632: The end of 2006 there were fewer than 80 mutual life insurers in the United States. Some of these mutual companies award dividends to their policyowners. For example, Northwestern Mutual expects to pay more than $ 5 billion in dividends to participating policyowners in 2008. Northwestern Mutual has paid its policyowners more than $ 65 billion in dividends, since the company was founded 151 years ago. Mass Mutual Financial Group's Web site defines life insurance policy dividends. Numerous agricultural supply and marketing cooperatives have demutualized. One of

493-430: The first U.S. exchange or commodities exchange to demutualize into a joint stock corporation." The Chicago Mercantile Exchange had its IPO on December 6, 2002. The Chicago Board of Trade similarly carried out an IPO in 2005, having previously been "a self-governing, self-regulated Delaware not-for-profit, non-stock corporation that serves individuals and member firms". The Stock Exchange of Hong Kong underwent

522-936: The first of a two-stage process. The second stage would be full demutualization once the transition pains into MHC status are complete. In other cases, the MHC is the final stage. Note that some mutual companies, such as Nationwide Mutual Insurance Company and the MassMutual , have owned stock companies listed on a stock exchange. Nationwide bought back its subsidiary stock company in full, on December 31, 2008. These are not MHCs, however; they are simply mutual companies which have majority control over one or more stock companies. Other mutual companies may own some of another company's stock, but as simply an asset, not something they actually control. Finally, many mutual companies, including Nationwide and MassMutual, have wholly owned subsidiaries. The subsidiaries may technically be stock companies, but

551-471: The following trading times for normal auction trades: These times exclude public holidays declared by the Exchange in advance. 35°10′01″N 136°54′20″E  /  35.16694°N 136.90556°E  / 35.16694; 136.90556 This article about stock exchanges is a stub . You can help Misplaced Pages by expanding it . Demutualization Demutualization is the process by which

580-505: The joint stock company the roles are distinct. This allows a broader capital base if the customers cannot or will not provide sufficient financing to the organization. However, a joint stock company must also try to maximize the return for its owners instead of only maximizing the return and customer services to its customers. This can lead to a decline in customer service to the extent that customers', management's and shareholders' interests diverge. A very early example of demutualization were

609-400: The largest, CF Industries , a manufacturer and distributor of fertilizers in the United States, was for 56 years a cooperative federation . CF then demutualized and made an initial public offering of equity stock in 2005. Another large example is Kerry Co-operative Creameries of Ireland , a milk and meat processor that partially demutualized in 1986 under the so-called Irish model, with

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638-460: The magnitude of its own equity holding of SIX Group – in this category the subsidiary SIX Swiss Exchange AG . Over 200 US mutual life insurance companies have demutualized since 1930. At the end of the 20th century and beginning of the 21st century numerous large mutuals such as Prudential , MetLife , John Hancock , Mutual of New York , Manulife , Sun Life , Principal , and Phoenix Mutual decided to demutualize and return to policyowners all

667-665: The mutual owns all the stock. For example, the New York Life Insurance and Annuity Corporation (NYLIAC) is a wholly owned subsidiary of the New York Life Insurance Company (NYLIC). A person may purchase an insurance policy from either company, but only those who own participating policies from NYLIC are mutual members. Other policyholders are customers. The Stockholm Stock Exchange was the first exchange to demutualize in 1993, followed by Helsinki (1995), Copenhagen (1996), Amsterdam (1997),

696-511: The primary business of the co-operative transferred to a publicly traded company Kerry Group and the shareholding split between the co-operative and its farmer members. Since this partial demutualisation, the co-operative has gradually reduced its holding in the Kerry Group in order to fund an extensive redemption scheme of its own co-operative shares held by farmer members. Murray Goulburn Co-operative and Australia's 2016 dairy crisis

725-759: The profits they had accumulated as mutual life insurers. Policyowners were awarded cash, stock and policy credits exceeding $ 100 billion in a wave of demutualizations, which have been regarded by some as very rewarding to the new owners although the effect on customers is not discussed. Others show that the demutualization process is detrimental to customers. The boards of directors of other mutual companies, which include Northwestern Mutual , Massachusetts Mutual , New York Life , Pacific Life , Penn Mutual , Guardian Life , Minnesota Life , Ohio National Life , National Life Group , Union Central Life , Acacia life , and Ameritas Life decided to either remain mutual or they decided to form mutual insurance holding companies. At

754-422: The provision of mortgages to members). It redistributes some profits to its members. By contrast, a joint stock company raises capital from its shareholders and other financial sources in order to provide services to its customers, with profits or assets distributed to equity or debt investors. In a mutual organization, therefore, the legal roles of customer and owner are united in one form ("members"), whereas in

783-492: The second largest, in 1989, and including the Halifax Building Society , the largest, soon converted into joint stock banking companies, some of which were subsequently acquired by other banks. Many societies soon became targets of speculative " carpetbaggers ", who opened savings accounts in order to obtain a windfall, in cash or shares, in the event of demutualisation. Most of the remaining societies, such as

812-478: The title NSE . If an internal link led you here, you may wish to change the link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=NSE&oldid=1181634882 " Category : Disambiguation pages Hidden categories: Short description is different from Wikidata All article disambiguation pages All disambiguation pages Nagoya Stock Exchange The Nagoya Stock Exchange (NSE)

841-486: Was completed in July 2000 for £1.1 billion. As well as the many agricultural supply cooperatives that demutualized, a small number of general retail consumer's cooperatives have demutualized or considered demutualization. In 1997, Andrew Regan launched an unsuccessful hostile takeover bid to demutualize the UK's giant Co-operative Wholesale Society , which, despite its name, was a large retailer in its own right. In 2007,

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