Amsterdam has a long history of being a driver of innovation in the European financial markets. Euronext’s Amsterdam subsidiary will have to harness some of that history to re-establish itself as an independent entity, says William Mitting.
The Amsterdam Stock Exchange was the world’s
first organised stock market. Originally opened in 1611, the
building of the Stock Exchange formalised what had previously
been a relatively informal trade in shares in the Dutch East
India Company as it sought funds to continue its exploration
and exploitation in the Far East.
The nexus of what became the global market for financial
futures and options also began around the same time as canny
brokers began charging investors a premium for the right to buy
shares in the future. 400 years later, the European Options
Exchange, the second European options exchange was opened in
The EOE ultimately merged with the Amsterdam Stock Exchange
and became part of Euronext, the pan- European exchange group.
At the time of the acquisition of Euronext by the New York
Stock Exchange, Liffe Amsterdam, as the subsidiary of Nyse
Euronext was known by then, was by far the largest of the
continental European derivatives exchanges in the Euronext
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