Major Differences Between American Stock Exchanges
Comparison, history, & overview of American stock exchanges.
Stock markets or stock exchanges are self-inclusive. They cater to those individuals most interested and most able to buy and sell stocks. Like many institutions in America, stock markets were born out of a need to compete more effectively and concentrate wealth more easily. In 1792 twenty four New York stockbrokers and businessmen formed the beginnings of the New York Stock Exchange with the Buttonwood Agreement. In this, these individuals agreed to give preference to each other in order to avoid a monopoly on sales by securities auctioneers and thus prevent paying a commission on sales of stocks. This also allowed these individuals to avoid new players buying into their private stock domain through the advent of public auctions.