International listings are a huge part of the London Stock Exchange's business, but emerging market exchanges are becoming a genuine source of competition. However, the LSE's reputation and prestige look set to keep the bourse's global standing high in the short to medium term at the very least.

Hong Kong's economic success looks set to continue for some time yet, but challenges lie ahead for its exchange. How will it cope with declines in listing growth, and ultimately all out competition with its peers on the mainland?

Despite volatility in equity capital markets the world over, Brazil continues to make a compelling investment case. And in 2012, twice as many new names are expected to debut on Bovespa than did in 2011, driven by the consumer and infrastructure sectors. For international banks wanting to win mandates competition will be tougher than ever, as Brazilian players continue to dominate the equity market.

As the eurozone crisis rattles equity capital markets, equity bankers and investors are being forced to anticipate the actions of politicians. But with a host of deals carried over from the fourth quarter of 2011, there may still be scope for an increase in activity in 2012.

With a miserable reporting session at the start of 2012, equity bankers are expected to bear the brunt of it with widespread bloodletting predicted in the business. However, some senior figures argue that consolidation in the equity sector is long overdue, with overcrowding pushing down margins to unsustainable levels.