Economics & Industry

Formation of the New York Stock Exchange

The Buttonwood Agreement marked the inception of the New York Stock Exchange, where 24 stockbrokers and merchants convened under a buttonwood tree on Wall Street. This agreement aimed to establish a formal and organized system for trading securities, outlining rules for how trades would be executed. As a result, it provided a platform for investors to buy and sell stocks more efficiently, facilitating the growth of capital markets in the burgeoning United States economy.

Continue Reading