Mục đích của thị trường chứng khoán là tạo điều kiện thuận lợi cho việc trao đổi chứng khoán giữa người mua và người bán, do đó cung cấp một thị trường (ảo hoặc thực). Các trao đổi cung cấp thông tin thương mại thời gian thực trên các chứng khoán niêm yết, tạo điều kiện thuận lợi cho phát hiện giá cả | xviii Chronology 1857 1861 1863 1865 1866 1867 1869 1870 1871 1873 1878 A major financial panic hits Wall Street with the collapse of the Ohio Insurance Trust Company. With the outbreak of the Civil War in April the NYS EB suspends trading in Southern state bonds. The board adopts the name New York Stock Exchange. The NYSE moves to new headquarters on Broad Street. Wall and Broad Streets becomes a hub of securities trading. In that same year the exchange closes for more than a week following the assassination of President Lincoln. The completion of the trans-Atlantic cable allows traders in New York and London securities markets to communicate in hours not weeks. The stock ticker invented by Edward A. Calahan is introduced. The ticker provides investors outside of New York with current prices on the exchange. Goldman founded by Marcus Goldman. Samuel Sachs his son-in-law becomes senior partner in 1904 leading to the firm s name change to Goldman Sachs. Jay Gould and his associates fail to corner the gold market through speculative manipulation. The result is a dramatic fall in gold prices and hundreds of business failures. A significant break occurs in the stock market on September 24 referred to as Black Friday. NYSE adopts the practice of continuous trading thus replacing the call market approach used since the early 1800s. Brokers dealing in certain stocks must remain in one location on the trading floor thus giving rise to specialists. The Philadelphia banking firm of Jay Cooke Company fails due to huge losses in speculative trading in railroad stocks. The NYSE closes for ten days due to the ensuing financial panic. The first telephone is installed on the trading floor of the NYSE. Stock Exchange Ordinance enacted and Tokyo Stock Exchange Co. Ltd. is established. 1886 1893 1896 1903 1907 1910 1913 1914 1915 1920 1924 1927 1929 Chronology xix Trading on the NYSE hits 1 million shares for the first time on December 15. Panic of 1893 one of the most severe .
