Chapter

From Domestic to International, 1850–1914

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/10.1093/0199242550.003.0004
 From Domestic to International, 1850–1914

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The first section of this chapter looks at the internationalization of the London securities market over the period from 1850 to 1914. This was influenced both by transferable securities becoming commonplace for governments and businesses around the world, and by the transformation of communications with the development of the telegraph and then the telephone. These developments necessitated increased capacity to cope with the growing volume of securities traded, which included expansion of the trading floor, increasing membership, and the attraction of new people into the profession of stockbroking. The second section looks at the accompanying changes in the organizational and physical structure of the London Stock Exchange. The remaining sections look specifically at the expansion of membership, relationships and rivalry within the Stock Exchange, and the relationship of the Exchange to the money and capital (securities) markets.

Keywords: Britain; capital market; communications; economic history; expansion; history; institution; London Stock Exchange; membership; money market; organization; relationships; rivalry; securities market; transferable securities

Chapter.  36377 words. 

Subjects: Economic History

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