Chapter

From Market to Exchange, 1693–1801

Ranald C. Michie

in The London Stock Exchange

Published in print April 2001 | ISBN: 9780199242559
Published online November 2003 | e-ISBN: 9780191596643 | DOI: http://dx.doi.org/10.1093/0199242550.003.0002
 From Market to Exchange, 1693–1801

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The first part of this chapter examines the early history of the London securities market, which can be traced back to the sixteenth century. The second part looks at the organization and development of this market. Within London, a definite location can be found as early as the 1690s (in the Royal Exchange and its environs), and the existence of stockbrokers can be traced to 1700. The development of the organized market is outlined up to 1801, when the institution of the London Stock Exchange formally came into existence––as the Stock Subscription Room––on 3 March 1801. This event was finally precipitated by the French Revolution of 1789, the resultant fall of the Paris Stock Exchange in 1793, and the occupation of Amsterdam (another centre of finance) in 1795.

Keywords: Amsterdam; Britain; economic history; French Revolution; history; institution; London Stock Exchange; Paris Stock Exchange; securities market

Chapter.  11419 words. 

Subjects: Economic History

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