Financial Strength

Capital Markets Depth & Development

The capacity to raise capital through markets: equity and debt markets with the depth, liquidity and institutional quality to fund firms and the sovereign at scale. One of the capabilities of Financial System Depth & Access.

International families: 4,4662015 to 2024
Leading country: China1.1× the next
All families: 34khome filings included
Over five years: Rising2020 to 2024 against the five before

Year by year

Patent families by country of origin and the year of the earliest filing, 2000 to 2025; 2025 is a part year, still filling in. International families are those for which protection was sought beyond one country.

Volume

International patent families in the capability, by the year of the earliest filing.

Source: Global Institute for National Capability (GINC), 2026. Underlying patents from 107 patent offices, IFI CLAIMS and Google

Share by country

Each country's share of the year's international families, in per cent: the capability's five largest countries of origin, 2015 to 2024, and the rest of the world.

Source: Global Institute for National Capability (GINC), 2026. Underlying patents from 107 patent offices, IFI CLAIMS and Google

Country leaderboard

International patent families, 2015 to 2024, by country of origin. Growth compares the latest five full years with the five before.

Ten largest

China

United States

Japan

South Korea

Cayman Islands

Taiwan

Canada

United Kingdom

Singapore

Switzerland

1,322

1,185

384

363

253

158

104


1	China	1,322	29.6%	1.4×	25,881
2	United States	1,185	26.5%	1.1×	2,519
3	Japan	384	8.6%	1.9×	902
4	South Korea	363	8.1%	1.6×	2,657
5	Cayman Islands	253	5.7%	0.0×	269
6	Taiwan	158	3.5%	1.1×	631
7	Canada	104	2.3%	0.9×	169
8	United Kingdom	84	1.9%	1.5×	137
9	Singapore	64	1.4%	1.6×	76
10	Switzerland	60	1.3%	0.7×	80
11	Germany	56	1.3%	1.8×	83
12	India	54	1.2%	1.6×	80
13	Australia	45	1.0%	1.1×	90
14	Hong Kong	44	1.0%	0.3×	50
15	Türkiye	25	0.6%	5.3×	43
16	Israel	24	0.5%	0.6×	45
17	France	20	0.4%	1.2×	44
18	Sweden	20	0.4%	0.3×	25
19	Ireland	17	0.4%	0.2×	23
20	Russia	13	0.3%	1.6×	22
21	Brazil	11	0.2%	2.7×	23
22	Saudi Arabia	11	0.2%	–	12
23	Italy	10	0.2%	1.0×	19
24	Luxembourg	9	0.2%	0.8×	9
25	Netherlands	7	0.2%	1.3×	10
26	South Africa	7	0.2%	1.3×	7
27	Finland	4	0.1%	0.3×	6
28	Spain	4	0.1%	3.0×	5
29	Poland	4	0.1%	3.0×	6
30	New Zealand	4	0.1%	3.0×	5
31	Norway	3	0.1%	0.5×	3
32	Malaysia	3	0.1%	0.0×	8
33	Denmark	2	0.0%	1.0×	3
34	Liechtenstein	2	0.0%	1.0×	3
35	Portugal	2	0.0%	0.0×	3
36	Belgium	1	0.0%	–	1
37	Czechia	1	0.0%	–	3
38	Mexico	1	0.0%	–	2
39	Austria	0	0.0%	–	1

Applicants

The largest applicants by international patent families, 2015 to 2024: across the world, then within each of the five countries with the most families in Capital Markets Depth & Development. Names are as held in the source and are not consolidated across subsidiaries.

Global

4,466 international families

ALIBABA GROUP HOLDING LTD · China

ADVANCED NEW TECHNOLOGIES CO LTD · Cayman Islands

ALIBABA GROUP SERVICES LTD · Cayman Islands

ALIPAY HANGZHOU INF TECH CO LTD · China

ALIPAY HANGZHOU TECH CO LTD · China

PING AN TECH SHENZHEN CO LTD · China

327

278

199

176

111

106

China

1,322 international families

ALIPAY HANGZHOU INF TECH CO LTD

ALIPAY HANGZHOU TECH CO LTD

PING AN TECH SHENZHEN CO LTD

TENCENT TECH SHENZHEN CO LTD

ANT BLOCKCHAIN TECH SHANGHAI CO LTD

WEBANK CO LTD

176

111

106

United States

1,185 international families

CHICAGO MERCANTILE EXCHANGE INC

JPMORGAN CHASE BANK NA

IBM

MASTERCARD INTERNATIONAL INC

VISA INT SERVICE ASS

TZERO IP LLC

Japan

384 international families

FUJITSU LTD

HITACHI LTD

TOYOTA MOTOR CORP

TOYOTA MOTOR CO LTD

NEC CORP

HONDA MOTOR CO LTD

South Korea

363 international families

HYUNDAI MOTOR CO LTD

KIA CORP

COUPANG CORP

SAMSUNG ELECTRONICS CO LTD

OODDY CO LTD

REBELLIONS INC

Cayman Islands

253 international families

3.9% shared · 1,008 families in both

United States

Japan

South Korea

China

Canada

6,376

4,793

3,598

2,845

590

Crosswalk

How Capital Markets Depth & Development is matched to the patent classifications. The entries below were chosen for it; each stands for itself and everything beneath it in the scheme, 21 Cooperative entries in all. A patent family counts when any of its codes, in either scheme and at any office, falls under one of them. Codes since retired are placed under the entries that replaced them.

Entry	Title in the scheme	Why it is chosen	CPC codes	IPC codes	Documents
G06Q40/04	Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange	Trading and exchange systems for stocks, commodities, derivatives, currency	21	1	102,582

CPC and IPC codes are the codes in use on patent documents, at any office, that fall under the entry. Documents is the larger of the two schemes' counts of documents carrying one of them. An entry with no IPC codes can be told apart only in the Cooperative scheme.

The Cooperative codes in use that count towards Capital Markets Depth & Development: 21 codes on 102,582 documents. The full crosswalk is in the cpc-to-capability.csv download.

Code	Title	Under entry	How placed	Documents
G06Q40/04	Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange	G06Q40/04	In the scheme	99,907
G06Q40/043	Tools or interfaces specially adapted for trading or brokering	G06Q40/04	In the scheme	715
G06Q40/049	Trading or exchanging carbon credits or renewable energy certificates	G06Q40/04	In the scheme	362
G06Q40/0421	Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange using financial market analysis, e.g. trading predictions, or forecasting using artificial intelligence, machine learning or neural networks	G06Q40/04	In the scheme	260
G06Q40/055	Trading non-fungible tokens [NFT]	G06Q40/04	In the scheme	234
G06Q40/042	Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange using financial market analysis, e.g. trading predictions, or forecasting	G06Q40/04	In the scheme	228
G06Q40/046	Trading across multiple trading exchanges or platforms	G06Q40/04	In the scheme	153
G06Q40/045	Accepting or processing orders in an exchange	G06Q40/04	In the scheme	144
G06Q40/0431	Displaying financial market data	G06Q40/04	In the scheme	93
G06Q40/0451	Prioritising, queuing or matching trade orders in an exchange	G06Q40/04	In the scheme	81
G06Q40/053	Trading fiat currency	G06Q40/04	In the scheme	63
G06Q40/048	Trading margin, collateral, or credit worthiness of trading partners	G06Q40/04	In the scheme	58
G06Q40/052	Trading or analysing derivatives	G06Q40/04	In the scheme	55
G06Q40/05	Trading or analysing debt instruments	G06Q40/04	In the scheme	54
G06Q40/054	Trading investment funds, e.g. mutual funds or hedge funds	G06Q40/04	In the scheme	50
G06Q40/044	Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange using tick sizes or order constraints	G06Q40/04	In the scheme	28
G06Q40/051	Trading or analysing equity instruments	G06Q40/04	In the scheme	28
G06Q40/0545	Trading exchange traded funds	G06Q40/04	In the scheme	28
G06Q40/047	Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange including trading crash mitigation or circuit breakers	G06Q40/04	In the scheme	19
G06Q40/0432	Tools or interfaces specially adapted for trading or brokering using pricing grids or ladders	G06Q40/04	In the scheme	15
G06Q40/0525	Trading or analysing derivatives using binary options or trading in prediction markets	G06Q40/04	In the scheme	7

Match: Through its tools

The classification names the equipment or technology the capability draws on, not the capability. The count says how much is being invented for it, not how well it is done. Counts trading and exchange technology, not market depth or liquidity. The crosswalk is a first pass that nobody has reviewed.

Capital Markets Depth & Development

Year by year

Volume

Share by country

Country leaderboard

Ten largest

Applicants

Global

China

United States

Japan

South Korea

Cayman Islands

Similar capabilities

Crosswalk

Other capabilities in Financial System Depth & Access