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Every
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Stock Market Guide
By: Mansi Aggarwal
Stock market is an inquisitive place for many. It is because the place has given
birth to many millionaires and is also responsible for turning millionaires to
locals. Thus the bulls and bears have always been charismatic. Now millions of
people invest in the stock market to make good money. The aura of the place is
such that it is swarming with people any hour of the day and any season of the
year. But only few know that how the stock market came into existence or what
actually are its origins.
A short encounter with the past
The oldest stock certificate was issued in favor of a Dutch company in 1606. The
purpose of this company was to benefit from the spice trade between India and
the Far East. During the 18th and the 19th centuries the trade of spices drifted
to England when Napoleon reigned over the place. With the development of United
States of America as a colony to British and Alexander Hamilton (the first US
secretary of the Treasury) flourished 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 traders of New York in 1817
when trade and commerce bloomed there.
A precise survey of the Western stock market
• The Wall Street- a place where the whole of 18th century trade and commerce
took place, Wall Street is a recognized place across the globe. The street was
termed as Wall Street since it ran alongside a wall that was taken as the
northern boundary of New Amsterdam in 17th century.
The Wall Street is known for the J.P. Morgan’s million dollar merger that
created US Steel Corporation, the ruinous crisis that resulted in Great
Depression and the “Black Monday” of 1987.
• The NYSE or the New York Stock Exchange is perhaps the foremost and so the
oldest stock exchange in United States that is believed to be born in 1792. The
significant aspects related to NYSE include the Buttonwood Agreement when 24
stockbrokers and traders of New York signed this accord and established the New
York Stock Exchange and Securities Board which is now recognized as the NYSE;
the considerable swings that the NYSE saw during the 20th and 21st century; the
hitting of the 100 and later even 1000 mark by the Dow around 1971 and the mark
of 10,000 that the Dow scaled in 1999.
• NASDAQ is the National Association of Securities Dealers Automated Questions.
It is an apparent or virtual stock market where all trading is done through the
electronic media. NASDAQ, the global and the largest electronic stock market
today was first established in 1971 in United States at the time when computers
were not as developed as they are today and it was very difficult to compute.
The main exchange of NASDAQ is in United Sates while its branches can be found
in Canada and Japan and it is also linked to markets of Hong Kong and Europe.
NASDAQ functions by purchasing and selling the over- the- counter or OTC stocks.
• AMEX-was discovered in 1842. The putative father of the institution is Edward
Mc Cormick (the commissioner of SEC) who endowed it with its current name. It
started its journey as the New York Curb Exchange and its name is factual. The
AMEX in contrast to the NYSE operates with the small and more dynamic companies
some of which even make it to the NYSE board.
About the Author:
Mansi aggarwal writes about stock market. Learn more at http://www.stockmarketstory.com |
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