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Euronext Amsterdam
Euronext Amsterdam is a stock exchange based in Amsterdam, the Netherlands. Formerly known as the Amsterdam Stock Exchange (Dutch: Amsterdamse effectenbeurs), it merged on 22 September 2000 with the Brussels Stock Exchange and the Paris Stock Exchange to form Euronext. The registered office of Euronext, itself incorporated in the Netherlands a public limited company (naamloze vennootschap), is also located in the exchange.[not verified in body]
The Amsterdam stock exchange is considered the oldest "modern" securities market in the world. It was created shortly after the establishment of the Dutch East India Company (Dutch: Nederlandse Oost-Indische Compagnie or Vereenigde Oost-Indische Compagnie, English: United East-Indian Company)[clarification needed] in 1602 when equities began trading on a regular basis as a secondary market to trade its shares. Prior to that, the market existed primarily for the exchange of commodities. It was subsequently renamed the Amsterdam Bourse and was the first to formally begin trading in securities. The Sephardic Jewish writer Joseph de la Vega's Confusion of Confusions (1688) is the first full-length work about the stock exchange, its participants and shareholders.
In 1602, the States General of the Netherlands granted the VOC a 21-year charter over all Dutch trade in Asia and quasi-governmental powers. The monopolistic terms of the charter effectively granted the VOC complete authority over trade defenses, war armaments, and political endeavors in Asia. The high level of risk associated with trade in Asia gave the VOC its private ownership structure. Following in the footsteps of the English East India Company, stock in the corporation was sold to a large pool of interested investors, who in turn received a guarantee of some future share of profits. In the Amsterdam East India House alone, 1,143 investors subscribed for over ƒ3,679,915 or €100 million in today's money.
Although it is considered by some to be the first modern stock market, there were limited markets for something similar to shares in Venice, Florence, Genoa, Germany, or Spain several centuries earlier.
It is not quite accurate to call [Amsterdam] the first stock market, as people often do. State loan stocks had been negotiable at a very early date in Venice, in Florence before 1328, and in Genoa, where there was an active market in the luoghi and paghe of Casa di San Giorgio, not to mention the Kuxen shares in the German mines which were quoted as early as the fifteenth century at the Leipzig fairs, the Spanish juros, the French rentes sur l'Hotel de Ville (municipal stocks) (1522) or the stock market in the Hanseatic towns from the fifteenth century. The statutes of Verona in 1318 confirm the existence of the settlement or forward market ... In 1428, the jurist Bartolomeo de Bosco protested against the sale of forward loca in Genoa. All evidence points to the Mediterranean as the cradle of the stock market. But what was new in Amsterdam was the volume, the fluidity of the market and publicity it received, and the speculative freedom of transactions.
— Fernand Braudel (1983)
The subscription terms of each stock purchase offered shareholders the option to transfer their shares to a third party. Quickly a secondary market arose in the East India House for resale of this stock through the official bookkeeper. After an agreement had been reached between the two parties, the shares were then transferred from seller to buyer in the "capital book". The official account, held by the East India House, encouraged investors to trade and gave rise to market confidence that the shares were not just being transferred on paper. Thus, speculative trading immediately ensued and the Amsterdam securities market was born.
A big acceleration in the turnover rate came in 1623, after the 21-year liquidation period for the VOC ended. The terms of the initial charter called for a full liquidation after 21 years to distribute profits to shareholders. However, at this time neither the VOC nor its shareholders saw a slowing down of Asian trade, so the States General of the Netherlands granted the corporation a second charter in the West Indies.
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Euronext Amsterdam AI simulator
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Euronext Amsterdam
Euronext Amsterdam is a stock exchange based in Amsterdam, the Netherlands. Formerly known as the Amsterdam Stock Exchange (Dutch: Amsterdamse effectenbeurs), it merged on 22 September 2000 with the Brussels Stock Exchange and the Paris Stock Exchange to form Euronext. The registered office of Euronext, itself incorporated in the Netherlands a public limited company (naamloze vennootschap), is also located in the exchange.[not verified in body]
The Amsterdam stock exchange is considered the oldest "modern" securities market in the world. It was created shortly after the establishment of the Dutch East India Company (Dutch: Nederlandse Oost-Indische Compagnie or Vereenigde Oost-Indische Compagnie, English: United East-Indian Company)[clarification needed] in 1602 when equities began trading on a regular basis as a secondary market to trade its shares. Prior to that, the market existed primarily for the exchange of commodities. It was subsequently renamed the Amsterdam Bourse and was the first to formally begin trading in securities. The Sephardic Jewish writer Joseph de la Vega's Confusion of Confusions (1688) is the first full-length work about the stock exchange, its participants and shareholders.
In 1602, the States General of the Netherlands granted the VOC a 21-year charter over all Dutch trade in Asia and quasi-governmental powers. The monopolistic terms of the charter effectively granted the VOC complete authority over trade defenses, war armaments, and political endeavors in Asia. The high level of risk associated with trade in Asia gave the VOC its private ownership structure. Following in the footsteps of the English East India Company, stock in the corporation was sold to a large pool of interested investors, who in turn received a guarantee of some future share of profits. In the Amsterdam East India House alone, 1,143 investors subscribed for over ƒ3,679,915 or €100 million in today's money.
Although it is considered by some to be the first modern stock market, there were limited markets for something similar to shares in Venice, Florence, Genoa, Germany, or Spain several centuries earlier.
It is not quite accurate to call [Amsterdam] the first stock market, as people often do. State loan stocks had been negotiable at a very early date in Venice, in Florence before 1328, and in Genoa, where there was an active market in the luoghi and paghe of Casa di San Giorgio, not to mention the Kuxen shares in the German mines which were quoted as early as the fifteenth century at the Leipzig fairs, the Spanish juros, the French rentes sur l'Hotel de Ville (municipal stocks) (1522) or the stock market in the Hanseatic towns from the fifteenth century. The statutes of Verona in 1318 confirm the existence of the settlement or forward market ... In 1428, the jurist Bartolomeo de Bosco protested against the sale of forward loca in Genoa. All evidence points to the Mediterranean as the cradle of the stock market. But what was new in Amsterdam was the volume, the fluidity of the market and publicity it received, and the speculative freedom of transactions.
— Fernand Braudel (1983)
The subscription terms of each stock purchase offered shareholders the option to transfer their shares to a third party. Quickly a secondary market arose in the East India House for resale of this stock through the official bookkeeper. After an agreement had been reached between the two parties, the shares were then transferred from seller to buyer in the "capital book". The official account, held by the East India House, encouraged investors to trade and gave rise to market confidence that the shares were not just being transferred on paper. Thus, speculative trading immediately ensued and the Amsterdam securities market was born.
A big acceleration in the turnover rate came in 1623, after the 21-year liquidation period for the VOC ended. The terms of the initial charter called for a full liquidation after 21 years to distribute profits to shareholders. However, at this time neither the VOC nor its shareholders saw a slowing down of Asian trade, so the States General of the Netherlands granted the corporation a second charter in the West Indies.