Amsterdam Stock Exchange
The Amsterdam Stock Exchange is the Dutch stock exchange based in Amsterdam, has risen in the stock market NYSE Euro Next conglomerate since 2000.
History
The Amsterdam Stock Exchange 1611 as Commodity Market (Dutch: Goederenbeurs ) opened. As of 1612, securities trading took place. Thus, the Amsterdam Stock Exchange is opposed views often read not the oldest commodity exchange, but is the oldest stock exchange in the world.
The first Amsterdam Stock Exchange building in the early modern period, built between 1608-1611 after a design by Hendrick de Keyser in 1835 and had to be demolished to make way for a new building on a design by Jan David Zocher Younger space. Meanwhile unpopular Classicist building was only 1845 until 1903. The third and still preserved, 1903, stock market opened building occupies such a prominent place in the Dutch architectural history that the name of the architect Hendrik Petrus Berlage is long gone to the building, the Beurs van Berlage - the exchange of Berlage - is called.
Formation
The Netherlands at the beginning of the 17th century were marked by an enormous economic expansion, which is why the era is also called its Golden Age. The most important branches of trade were the Baltic trade, trade with Russia and the " straatvaart " (the trade with Italy and the Levant, the countries on the east coast of the Mediterranean Sea ). So it was only logical that in 1609 the Amsterdam Exchange Bank - the world's first central bank - was founded, which was able to arrange payment and to promote, which was made more difficult by then the work arising from the variety in circulating currencies. Moreover, attracted favorable interest rates, fixed exchange rates and high loan readiness of the Dutch bank soon to investors and financiers from all over Europe. Before long played the Amsterdam Exchange Bank a tremendously important international role, which is also the movement of goods in Amsterdam promoted heavily.
Merchandise trade in Amsterdam in the early 17th century played themselves in the open mainly in the Warmoesstraat and on the Dam Square and the City Hall of the scale, in the immediate vicinity of the berths were on the Amstel for sailing ships. His strong increase offset its own building required in the trade could be settled structured in any weather and in any season.
Commodity exchange
In a commodity market movable tangible goods such as raw materials, agricultural products or foodstuffs are traded. Practical significance are commodity markets for natural products, however, not for industrial products. The prices were determined by supply and demand and handled the purchases immediately; Speculation by systematic futures ( commodity futures ) were in the stock market was not yet common; which came on only in the middle of the 19th century. The contemporary tulip trade, which led to a tulip mania that made the tulip to the cult, but also unbridled speculation, took place mainly in pubs in and around Haarlem, where were the tulip fields.
It is said often, the Amsterdam Stock Exchange is the first commodities exchange around the world or Europe was, on the other hand is often to read the oldest commodity exchange in the world would be in Chicago. Both are unfounded. Other commodity markets are significantly older than the Amsterdam. 1409, the first stock exchange was established in Bruges; there the term, see emergence of the term " exchange" developed. The oldest German Commodity Exchange is founded in 1540 in Augsburg Exchange; probably in the same year the stock market was Lyon. Commodity markets are a total of several centuries older than commodity futures and securities exchanges. While the oldest and largest futures exchange in the world was established in 1848 in Chicago (Chicago Board of Trade ), it is at the Amsterdam Stock Exchange is the oldest stock exchange where trading is conducted from 1612 effect.
The first stock exchange building
The first Amsterdam Commodities Exchange was built where already the Amsterdam financial, commercial and administrative center and the city center was at least since the 13th century: in and around the Dam Square around. Thus began 1608 Hendrick de Keyser accordance with the contract, at the southern part of the square, partially over the Rokin with the building, which was inaugurated in 1611.
The complex consisted of a courtyard, which was surrounded by built-up galleries on arches. Single storey initially were shops, later the Royal Academy of Fine Arts ( Koninklijke Academie van Beeldende Kunsten ). From Dam Square there was an access to the Exchange building, which beurspoortje ( " Börsentörchen " - Today's passage is no longer the original gate, which was built in 1912 removed ). Was on the south side next to the bridge over the central crossing tower with a carillon of François Hemony.
In addition to the commodity exchange ( goederenbeurs ), which was housed in the Great Hall, there was a private, not much smaller room where only grain was traded ( graanbeurs ).
Securities Trading ( from 1623)
Around the same time as the opening of the Amsterdam Commodities Exchange came to a new type of trade: trade effects, ie stocks and securities. It was created by the Dutch East India Company (Dutch: Vereenigde Dutch East India Company, VOC), a trading company that dominated world trade in the 17th and 18th centuries. They controlled the shipping routes to Asia, the spice trail to the East Indies and had a monopoly of trade for South Africa and South America, which had given her the Dutch Parliament. Their only serious competition was the English East India Company ( EIC), but against the VOC could not prevail remotely.
The use of the monopoly, however, required a considerable financial effort that the company 's own resources could not afford and 1602, the ( historically first-time ) funding through the issuance of shares decided. The V.O.C. was the first listed company in the world; with their shares began securities trading in Amsterdam.
While previous financings rather medium term notes corresponded and related to individual ship charges VOC shareholders had no say, no influence on the investment and remained tied to their investment ten years. After the initial investment period, investors to trade their shares on the stock market began so to the commodity exchange, a stock exchange was added, but stressed initially only little spatial space.
In 1668 the building was enlarged at the expense of the towers and provided with a roof turret. Since the building was built over the water, it was susceptible to moisture damage and fell in some places. The first major repairs had to be made in 1659; City architect Abraham van der Hart undertook in 1781 and 1796 extensive surveys, but remained the problems, so that in 1803 and 1825 large-scale works were necessary.
Also the stock trading had continued to increase and there was more space is required for administrative premises, so that the city of Amsterdam in 1836 decided to demolish the first Amsterdam Stock Exchange in favor of a new building.
A Greek temple as a stock exchange building
Although in retrospect, 1648 in Amsterdam and the Netherlands the economic peak of the age represented, which ushered in the decline, dominated the Amsterdam dealer even into the 19th century, certain trade areas, such as trading in "West - Indië " or the precious metal or grain trade. 1662 ran for example, 2,796 ships at the port of Amsterdam, in 1695 there were 3,861, in 1747 but still 1747. The need for a new, larger market was therefore unbroken, yet the details of the planned new building were fundamental years of debates in the Amsterdam city council. It was only in October 1840 January Zocher David was awarded the contract.
He built the Stock Exchange building a little further north-east of the former Stock Exchange at the corner of Dam / Damrak. On September 10, 1845, the modeled after a Greek temple provided with high columned building " ingerigt naar de behoefte en Smaak van de tegenwoordigen tijd. " ( Set according to the needs and tastes of today ) opened by King Willem II. Quick gave the Amsterdam the building the nickname Mausoleum.
1851, the Vereniging voor de Amsterdamse Effect Trade ( Amsterdam Association for equity trading ) was founded, which from now on regulated equity trading. Only members of this organization were now eligible to participate in exchange trading.
Zochers building was dilapidated but already in 1884 and had to be demolished in 1903. A 1894 by the architect Adriaan Willem Weissman ( 1858-1923 ) created this plan to eliminate injury and extension failed, although it remains unclear whether the structural damages were too big, or political or financial purposes father of the desire for a new building. From 1912 to 1914 was built on the grounds of a building in the neo-Renaissance style, which today houses the famous department store De Bijenkorf.
Beurs van Berlage
See main article Beurs van Berlage
The Stock Exchange Berlage is situated not far from the previous exchange building on the Damrak on a drained part of the Amstel.
1884 took Hendrik Petrus Berlage with a design in the architectural competition for the construction of the Commodity Exchange ( Beurs van Berlage later called ) in Amsterdam part, which he won in 1896.
However, his employers did not like the brick building with its high tower, its unadorned facade and the visual design Next: you have a representative building preferably in neo-Renaissance style. But it is precisely from this historicist architecture, which is represented in Amsterdam with many examples, Berlage wanted to distinguish. He invited artist friends to decorate the building with contemporary ornaments, aphorisms and artwork. Toorop designed various tile panels, including for the porch symbolic images of past, present and future. For the building corners Lambertus Zijl made still images from three Amsterdam Heroes: On the corner of Beursplein this is Gijsbrecht van Aemstel, the founder of the city of Amsterdam, right is Jan Pieterszoon Coen, an admiral and land invaders from the 17th century and left the jurist Hugo de Groot. Lamps and furniture for the building was designed by Berlage himself so complete wall paintings, sculptures, decorative grille, sayings and furniture which is a clear stylistic classification withdrawing massive architecture and the building as a total work of art which is considered today as the advent of the Dutch architecture in the modern age and Berlage immediate notoriety and respect earned in the professional world.
On May 27, 1903 Queen Wilhelmina consecrated the building one in which four exchanges were housed: the goods, grain, Schiffer and Stock Exchange.
The financial center of Amsterdam in the 19th and 20th centuries
The Amsterdam Stock Exchange practiced particularly by their first half-year, and later bi-monthly auctions of Java coffee from a decisive influence for Europe. Part of colonial goods stored in Rotterdam and Middelburg, Dordrecht and Schiedam, the bulk but in Amsterdam. The conditions for coming to auction goods created, which was founded in 1824 Nederlandse Handelmaatschappij.
After the Second World War, the trading volume went to the Amsterdam Stock Exchange back more and more and the stock exchange building of Berlage was dilapidated. 1959 voices were heard in the city council to demolish it. 1960, but decided to renovate it and continue to use as a concert hall and for exhibitions.
The last exchange trading, namely the Agricultural futures, moved in 1998 from the building. Since 1987, the imposing hall of the former commodity market with its large glass roof, the curved steel girders and two galleries used as an exhibition space and concert hall.
Today, the building, with a small museum about the history of the building, as a concert and exhibition hall serves. On 2 February 2002, the civil marriage of the heir Willem- Alexander and Máxima Zorreguieta took place here.
Beursplein 5
Currency and securities trading had indeed receive a generous own hall in the Beurs van Berlage, but the securities trading spread so quickly that he was much too small a few years later. Also, the members of the Amsterdam Association had still not used for trading stocks on the building. Had the architect also gained international recognition for his design - the stock market traders found the " brick shed " cold, drafty, impersonal and not very suitable for their purposes.
1914 received the Stock Exchange, a new building of its own at the stock exchange ( Beursplein 5 ), where it remains to this day.
The building is a work of Jos Cuypers that much more of a " Temple of Mercury ", a trade temple, remembered as Berlage building, where the Stock Exchange was housed around 80 years to everyone's satisfaction.
1990s
In 1994, the trade but was completely automated, the trading floor fell away completely, so that the space requirement was significantly lower. 1997 merged the Amsterdam Stock Exchange with the futures exchanges and trading in options was at that time still settled on the floor. By December 2002, therefore, the Amsterdam floor was still open. Then also this branch exchange was automated and handled on the screen.
The Amsterdam Stock Exchange in 1997 was also one of the first markets were privatized and converted into a public limited company.
Merger to EUR Next
Initial plans for the merger of the exchanges were officially announced on 20 March 2000. On 22 September 2000, the Amsterdam Stock Exchange merged then with the stock exchanges of Brussels and Paris for € Next NV, the first international securities and derivatives exchange. The Amsterdam Stock Exchange today unites under one roof the AEX Effectenbeurs, the AEX - Optiebeurs and the AEX Agricultural Termijnmarkt. Therefore sit still trader on the floor of the Beursplein 5. Otherwise, the impressive hall outside the trading hours for meetings and events can be rented.