How did stock markets originate? Detailed answer

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How did stock markets originate? Detailed answer

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How did stock markets originate?

Millions of people - if not half of the US population - have a personal interest in what happens on the stock market. Some have an immediate interest because they co-own companies through the shares they hold. Others are owners of government shares and other securities. Another group is the owners of insurance companies and insurance bank accounts.

For some time now, banks and insurance companies have been investing heavily in securities. A stock exchange is a market for buying and selling securities such as stocks, bonds, bonds. This market has been around for centuries. And the exchange began with regular meetings, usually in a cafe or restaurant, of several people who were intermediaries between the buyer and the seller. They did it for a commission.

In London, for example, the brokers met at Jonathan's coffee shop in Change Alley. In 1773 they moved to premises on Sweeting Alley. This room was given the name "Stock Exchange".

In the US, in order to pay for the cost of the Revolutionary War, to finance other activities, it became necessary to sell stocks and bonds to the public. But people didn't want to invest in stocks unless they could easily resell them. Therefore, the securities market became necessary. The brokers of those days decided to meet under the plane trees on Wall Street. These people became the first members of the New York Stock Exchange. Their trading floor was a small piece of land surrounded by old trees, but it was the first stock exchange in the United States.

In other countries of the world, stock exchanges arose even earlier. The money market in Paris marked the beginning of the first French stock exchange. This was in 1138. In Amsterdam, the first securities market appeared in 1611.

Author: Likum A.

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