The first stock exchange was established in Bruges, Belgium.
In the 15th century, traders from all around the world gathered in the house of Van der Burse, a renowned and wealthy merchant. They shared the latest news, exchanged various securities such as bills and notes and conducted trading operations, without having to present any purchase and sale documents. The word bourse, which is a less common term for stock exchange, is thought to have derived its name from Van der Burse. The merchant’s name itself could be related to Medieval Latin bursa denoting a small leather bag for carrying money.
The first international “bourse” in compliance with the new standards was founded in 1531 in the city of Antwerp. It was the first stock exchange which had its own separate trading floor for transactions. Over the entrance hung the legendary sign stating “For traders of all nations and languages”.
In the 17th century, the Amsterdam Stock Exchange played the key role in the European financial structure. It served the functions of both a stock exchange and commodity market. At that time, contracts for forward delivery appeared that became increasingly popular later on. Over time, the mechanisms of exchange transactions reached a relatively advanced level.
London turned into the European center of trading in the 18th century. Stock exchanges grew more and more popular as they served as the meeting places for wealthy people seeking to multiply their capital.
The “bourses” in London and Amsterdam even developed their own professional jargon, giving rise to such slang terms as bulls and bears (i.e. exchange buyers and sellers).
Jockeyship (speculation in national lottery tickets) and many other samples of the fascinating exchange lingo.
In the Russian financial history, exchange trading developed during the times of Peter the Great. Russian exchange merchants only traded contracts for commodities at first, but as time went on, securities and other instruments also started to appear in the market.
The famous Wall Street in New York, US played a remarkable role in the evolution of exchanges. In the late 18th century, there grew a buttonwood tree, under which traders and speculators met in order to trade securities.
In 1792, they made a landmark decision to institutionalize their gatherings by concluding the so-called Buttonwood Agreement.
This document laid the foundation for the New York Stock Exchange.
An exchange is a marketplace in which buyers and sellers execute trading transactions in various financial instruments.
Such exchanges act as legal entities facilitating the ongoing operation of the organized market, where an extensive range of stocks, bonds, commodities, securities, and derivatives is traded every day. Trading may be conducted either through special financial contracts or in lots, in accordance with the rules and regulations of the particular exchange. The size of such lots is usually standardized and set out by the exchange.
Nowadays, exchanges and trading venues are the places where the prices of numerous goods such as oil and gold are determined. These prices then come out into the open, primarily through mass media and the Internet. Prices may be influenced by any economic or non-economic factors including demand, supply, information related to a certain good and its production, market conditions, competition, crop setbacks, crucial political news, and monetary policies in various countries.
Therefore, the prices of a whole array of goods are based on the results of trading in major global exchanges.
Depending on the type of traded instruments, exchanges are classified into several types:
Commodity exchange (a sort of a wholesale market that offers a wide variety of goods, from precious metals and oil to lean beef and cotton);
Currency exchange (a marketplace where national currencies are bought and sold at the exchange rates determined by current supply and demand);
Stock exchange (a regularly operating market for securities and other financial instruments);
Futures exchange (a trading venue that specializes in contracts for delivery of goods or securities);
Options exchange (a marketplace where long-term financial obligations are traded).
In the 15th century, traders from all around the world gathered in the house of Van der Burse, a renowned and wealthy merchant. They shared the latest news, exchanged various securities such as bills and notes and conducted trading operations, without having to present any purchase and sale documents. The word bourse, which is a less common term for stock exchange, is thought to have derived its name from Van der Burse. The merchant’s name itself could be related to Medieval Latin bursa denoting a small leather bag for carrying money.
The first international “bourse” in compliance with the new standards was founded in 1531 in the city of Antwerp. It was the first stock exchange which had its own separate trading floor for transactions. Over the entrance hung the legendary sign stating “For traders of all nations and languages”.
In the 17th century, the Amsterdam Stock Exchange played the key role in the European financial structure. It served the functions of both a stock exchange and commodity market. At that time, contracts for forward delivery appeared that became increasingly popular later on. Over time, the mechanisms of exchange transactions reached a relatively advanced level.
London turned into the European center of trading in the 18th century. Stock exchanges grew more and more popular as they served as the meeting places for wealthy people seeking to multiply their capital.
The “bourses” in London and Amsterdam even developed their own professional jargon, giving rise to such slang terms as bulls and bears (i.e. exchange buyers and sellers).
Jockeyship (speculation in national lottery tickets) and many other samples of the fascinating exchange lingo.
In the Russian financial history, exchange trading developed during the times of Peter the Great. Russian exchange merchants only traded contracts for commodities at first, but as time went on, securities and other instruments also started to appear in the market.
The famous Wall Street in New York, US played a remarkable role in the evolution of exchanges. In the late 18th century, there grew a buttonwood tree, under which traders and speculators met in order to trade securities.
In 1792, they made a landmark decision to institutionalize their gatherings by concluding the so-called Buttonwood Agreement.
This document laid the foundation for the New York Stock Exchange.
An exchange is a marketplace in which buyers and sellers execute trading transactions in various financial instruments.
Such exchanges act as legal entities facilitating the ongoing operation of the organized market, where an extensive range of stocks, bonds, commodities, securities, and derivatives is traded every day. Trading may be conducted either through special financial contracts or in lots, in accordance with the rules and regulations of the particular exchange. The size of such lots is usually standardized and set out by the exchange.
Nowadays, exchanges and trading venues are the places where the prices of numerous goods such as oil and gold are determined. These prices then come out into the open, primarily through mass media and the Internet. Prices may be influenced by any economic or non-economic factors including demand, supply, information related to a certain good and its production, market conditions, competition, crop setbacks, crucial political news, and monetary policies in various countries.
Therefore, the prices of a whole array of goods are based on the results of trading in major global exchanges.
Depending on the type of traded instruments, exchanges are classified into several types:
Commodity exchange (a sort of a wholesale market that offers a wide variety of goods, from precious metals and oil to lean beef and cotton);
Currency exchange (a marketplace where national currencies are bought and sold at the exchange rates determined by current supply and demand);
Stock exchange (a regularly operating market for securities and other financial instruments);
Futures exchange (a trading venue that specializes in contracts for delivery of goods or securities);
Options exchange (a marketplace where long-term financial obligations are traded).
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