Are you eager to know what is all about stock exchange? What does mean by stock exchange and how does it work exactly? What is the story behind its establishment and the phases that carved a significant niche to London Stock Exchange? Have you heard about London Stock Exchange? Yes!!!You are right. It’s one of the world’s oldest stock exchanges having a tremendous history more than 300 years.
If we scrutinize the history of the stock exchange to know how it started, then we have to go nearly 500 years back. That time, London and Belgium were two main diamond trading centres in the world where merchants came and used to buy and sell. But after some time, trading of other things was also started like Wheat, beet, sugar and so on.
Let’s take a quick look of its history. Sir Thomas Gresham established an Exchange at Threadneedle Street in 1556, which became the major point of operating country’s trading. And then, it was named Royal Exchange by Elizabeth in 1571. With the moving of time, it achieved huge success. And the time came when John Castaing decide to establish proper “exchange” in a coffee house which was a distinguished meeting point. By profession, John was a trader and broker. Merchants used to come there to buy and sell taking hot cup of coffee and tasty bites of chocolates.
But the story got changed in 1773, when a group of 150 brokers formed a new exchange. And later, it became popular with the name The Stock Exchange. Here, Hand sack means the deal is final.The London Stock Exchange locates in the city of London in UK which was founded in 1801. It grew with in short span of time and emerged as most important financial institutions regulating stock market. It has covered a long and successful journey.
Now, people keep a close eye over the stock market as it affects business too. In the stock market, the prices of shares are always affected and up-and-down keeps on going due to weather, war as well as the performance of a particular company.