Stock market is a curious location for many. It’s because the place has given birth to a lot of millionaires and is also in charge of turning millionaires to locals. Hence the bulls and bears have always been charismatic. Now millions of individuals invest in the stock market to earn decent money. The aura of this place is such that it’s swarming with people any hour of the day and any period of the year. But only few understand that how the stock exchange came into existence or what really are its roots.
A brief encounter with the past
The earliest stock certificate was issued in favor of a Dutch firm in 1606. The objective of this company was supposed to gain in the spice trade between India and the Far East. Throughout the 18th and the 19th centuries the trade of spices drifted to England when Napoleon reigned over the area. Together with the growth of United States of America as a colony to British and Alexander Hamilton (the first US secretary of the Treasury) prospered the American Stock Exchange. Hamilton played a crucial role in encouraging the trading in the Wall Street and Broad Street in New York. The New York Stock and Exchange Board now popularly known as the New York Stock Exchange was organized by the dealers of New York in 1817 when trade and trade bloomed there.
A precise survey of the Western Stock Exchange
* The Wall Street- a place where the whole of 18th century trade and trade happened, Wall Street is a recognized place throughout the planet. The road was termed as Wall Street because it ran alongside a wall which was taken as the northern border of New Amsterdam in 17th century. The Wall Street is famous for its J.P. Morgan’s million dollar merger that created US Steel Corporation, the ruinous catastrophe that led in Great Depression and the»Black Monday» of 1987.
* The NYSE or the New York Stock Exchange is possibly the foremost and thus the oldest stock exchange in United States which is thought to be born in 1792. The substantial aspects associated with NYSE comprise the Buttonwood Agreement when 24 stockbrokers and dealers of New York signed this accord and established the New York Stock Exchange and Securities Board that is currently recognized as the NYSE; the considerable swings the NYSE saw throughout the 20th and 21st century; the hitting of the 100 and afterwards even 1000 mark by the Dow around 1971 and the mark of 10,000 that the Dow climbed in 1999.
* NASDAQ is the National Association of Securities Dealers Automated Questions. It’s a clear or virtual stock exchange where all trading is done through the electronic media. NASDAQ, the international and the largest electronic stock exchange today was initially launched in 1971 in United States at the time when computers weren’t as developed as they are now and it was rather tough to compute. The most important trade of NASDAQ is in United Sates while its branches are seen in Canada and Japan and it’s also connected to markets of Hong Kong and Europe. NASDAQ functions by buying and selling the over- the- counter or OTC stocks.
* AMEX-was found in 1842. The putative father of this institution is Edward Mc Cormick (the commissioner of SEC) who endowed it with its existing name. It began its journey as the New York Curb Exchange and its title is factual. The AMEX compared to the NYSE works with the little and more energetic businesses some of which even make it into the NYSE board.