Evolution of the Stock Exchange

Please choose the most appropriate answer for each sentence.
  • 1

    Paul Arlman, Secretary General of the Federation of European Securities Exchanges, warned in the following excerpted speech that he would not be able to answer this question ..... him: "What is an Exchange?"

  • 2

    The New York Stock Exchange was originally formed to ..... exchange rooms for the convenient transaction of their business by its members.

  • 3

    The oldest Stock Exchange in the world, the Amsterdam Exchange, started in a Post Office in 1598 where incoming and ..... letters from ships were registered.

  • 4

    But is was only in 1611, nine years after they started trading the first tradable share of the Vereenigde Oost-indische Compagnie (VOC) that they really got their own Exchange in the ..... of a building.

  • 5

    "Confusion de Confusiones", by Joseph de la Vega, published in 1688, shows us quite precisely what an Exchange is: a den of ..... unless moderated by regulation.

  • 6

    Through most of its history an Exchange was a meeting place in a physical sense, and only in the last century did we introduce electricity and telephones, which on many floors of the Exchanges were restricted or ......

  • 7

    In order to define what a Stock Exchange is today, you have to understand the unstoppable progress, or ....., of technology.

  • 8

    When the computer did away with the physical limitation of the Exchange within one single city or region, the technology lost its uniqueness, and it gave rise to ......

  • 9

    Another factor for change has been international equity investors, who have shown a ferocious appetite for both domestic and foreign equity investment, even ..... the dot com bubble.

  • 10

    The fourth factor is the information availability explosion that gave all investors nearly ..... access to nearly free data.

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