BusinessEvents from HistoryFinanceMay

Events from History: 17 May 1792

The New York Stock Exchange seeds were sown on May 17th, 1792, under a buttonwood tree on Wall Street in New York City. Facing the financial uncertainty following the American Revolutionary War, 24 stockbrokers signed the Buttonwood Agreement. This agreement established standardised commission rates and prioritised trades amongst the signatories, fostering trust and stability in the young nation’s financial sector. While the agreement marked the nascent stage of the exchange, it wasn’t until 1817 that the New York Stock and Exchange Board was formally constituted, solidifying its role as a central marketplace for buying and selling securities. This marked a pivotal moment in American financial history, laying the foundation for the world’s most prominent stock exchange.

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