A stock market is very much achieveable, however it must be regulated.
A standard set of rules, by which corporations must report their assets and liabilities.
A way to assess punitive measures against corporations which do not report accurate or timely information.
A credit assessing group (under regulation by an independent group), which can rate corporations by risk level.
As such, the following are what at a minimum is required:
A Securities and Exchange Commission to oversee all aspects of the financial system.
A credit bureau responsible for rating companies.
A stock market to facilitate transactions.
Without any of these, it would not work.