Скачать или смотреть Buttonwood Agreement

Wall Street Minute : The tree is a Buttonwood (aka a sycamore) and the Buttonwood tree symbolizes one of the most significant events in modern finance: the 1792 buttonwood agreement . Only sixteen years after the founding of America, one of the country’s most important institutions was born , the New York Stock Exchange.

In that agreement 24 traders , stockbrokers and merchants agreed to certain principles , rules and regulations to facilitate the ease of trading and settlement of those trades . With the Buttonwood agreement the New York Stock Exchange and some would suggest the modern financial system was born . The Buttonwood agreement was a seminal event that defined and created an industry .

The Buttonwood agreement set in place a series of rules that were based on existing European trading systems at the time. The agreement aimed to bridge the trust gap between brokers and merchants who agreed to only trade with each other and charge a set commission rate for their services.

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