Market is an inquisitive place for most. It’s actually because the place has given birth to several millionaires and is also accountable for turning millionaires to neighbors. Therefore the bulls and bears have consistently been charming. Now many millions of people invest in the stock exchange to make decent money. The aura of the place is such that it’s swarming with folk any hour of the day and any season of the year. But only few know that how the exchange came into the world or what essentially are its origins.
A short meeting with the past.
The oldest stock certificate was issued in favour of a Dutch company in 1606. The aim of this company was to gain from the spice trade between India and the East. In the eighteenth and the 19th centuries the trade of spices drifted to Britain when Napoleon reigned over the place. With the development of United States as a colony to Brit and Alexander Hamilton ( the 1st US secretary of the Treasury ) blossomed the North American Stock Exchange. Hamilton played a vital role in inspiring the trading in the Wall St and Broad Street in New York.The NY Stock and Exchange Board now generally called the New York Stock Exchange was organised by the traders of NY in 1817 when trade and commerce bloomed there.
A specific survey of the Western stock exchange.
*The Wall Street- a place where all of 18th century trade and commerce occurred, Wall Street is a recognized place across the world. The street was named as Wall St since it ran alongside a wall that was taken as the northerly boundary of New Amsterdam in 17th century.
*The Wall Street is legendary for the J.P. Morgan’s million buck fusion that made US Steel Firm , the ruinous crisis that ended in Great Depression and the Black Monday of 1987.
*The NYSE or the New York Stock Exchange is perhaps the foremost and so the oldest stock exchange in United States that is believed to be born in 1792. The significant aspects related to NYSE include the Buttonwood Agreement when 24 stockbrokers and traders of New York signed this accord and established the New York Stock Exchange and Securities Board which is now recognized as the NYSE; the considerable swings that the NYSE saw during the 20th and 21st century; the hitting of the 100 and later even 1000 mark by the Dow around 1971 and the mark of 10,000 that the Dow scaled in 1999.
*Naz is the nation’s organisation of Stocks Dealers Automated Questions. It’s a clear or virtual market where all trading is done thru the electronic media. Naz , the world and the biggest electronic stock exchange today was first established in 1971 in US at the time when PCs weren’t as developed as they are right now and that was very hard to compute. The key exchange of NDX is in United Sates while its branches can be discovered in Canada and Japan and it’s also linked to markets of HK and Europe. NDX functions by buying and selling the over- the- counter or OTC stocks.
*AMEX-was discovered in 1842. The putative father of the institution is Edward Mc Cormick (the commissioner of SEC) who endowed it with its current name. It started its journey as the New York Curb Exchange and its name is factual. The AMEX in contrast to the NYSE operates with the small and more dynamic companies some of which even make it to the NYSE board.