Stock exchange
Bolsa de valores con acciones negociables
- Date
- 1602 (mercado) / 1611 (edificio) · confidence high
- Place
- Amsterdam, Netherlands
- Credited to
- Dutch East India Company (VOC) and the city of Amsterdam (the Hendrick de Keyser building)
- Field
- Communication
What it is
A permanent market where shares of the VOC were bought and sold, with futures, options and short selling already described in 1688 (Confusion of Confusions). The first modern stock exchange.
The Antwerp Bourse (1531) traded debt and commodities, but not company shares.
What it led to
- Financial capitalism and speculation (tulip mania, 1637)
- The financing of colonial companies and public debt
- The Bank of Amsterdam (1609) and the Dutch financial system
- The models of London (1698) and New York (1792)
Built on
- Bill of exchangec. 1250
- Double-entry bookkeeping (Pacioli's treatise)1494
- Joint-stock company1602
- Joint-stock company (VOC)
- Bruges and Antwerp exchanges (1531)
Made possible
- Dōjima rice futures exchange1730
- Bank of Amsterdam
- London Stock Exchange
- Financial derivatives
- Actuarial life insurance