July 24, 2024

Evolution of the modern stock market

Venetian merchants

In the 1300s, the moneylenders of Venice would carry slates with information about various issues for sale, similar to modern brokers. The lenders traded debt with each other.

Dutch East India IPO

In 1602, the Dutch East India Company became the first in the world to hold an IPO. Trading of the company's shares made way for the oldest 'modern' exchange, the Amsterdam Stock Exchange in 1611.

Philadelphia Stock Exchange

In 1790, the Philadelphia Stock Exchange (PHLX) became the the first stock market to be established in the US.

New York Stock Exchange

In 1792, the Buttonwood agreement was signed by brokers who used to trade under a Buttonwood tree. This led to the creation of the New York Stock Exchange. 

Bombay Stock Exchange

Brokers would gather at Mumbai’s Horniman Circle. On 9 July, 1875, this group of brokers formed an institution which is today known as the BSE.

NASDAQ

In 1971, the NASDAQ was established. It was the first stock exchange in the world to be digitised and to not have a physical location.

NSE

In 1992, the National Stock Exchange was established. It became the first exchange in India to offer a fully automated screen-based trading system in 1994.

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