The value of the world’s largest stock exchanges reached a five-and-a-half-year high at the end of November, as efforts to diversify and a fervent trading and merger environment provided a welcome boost to share prices.

Shares in the world's largest exchange groups rose by a combined 31% in the 11 months to the end of November, according to new figures published by industry barometer the FTSE Mondo Visione Exchanges Index.