How a Dutch commercial company created the first bag in the world

“Fast” is an expression of referring to The current stock market. Prices are updated in the actual time on the screen and the procedures change only by pressing the button: This The truth of modern tradeEither in Tokyo, London or New York. but, How did everything start? It turns out that the roots of the modern stock market trade are due to A Dutch commercial company for more than four centuries.

On March 20, 1602, the Dutch East Indian Islands Company (“VEREENGDE OSTINDISCHECNIE” or VOC was announced The first first general offer (OPI), Bases Modern financial markets. Article 10 of its laws said: “All residents of these lands can buy shares of this company.”

The idea of ​​investments before the launch of OPI OPI. Dutch historian Martin Brak explained to the eurono that before the organic central center, companies followed a traditional model in it Traders collected money on one commercial trip across Europe or abroad.

After the trip, the accounts and people came out, in case of benefit or at least a positive result, Recover his investments. After that, of course, they can re -invest on the next trip, etc., “He added. However, COV was pioneer in two specific aspects. First, first, The ownership of the stocks was open to allWithout any minimum fixed investment, and secondly, stocks were negotiable.

Lodewijk Petram indicated in his first stock exchange in the world. He said: “The transmission can be made or transferred (procedures) through the author of the book for this camera.” This raided the way for a secondary market. Investors had an option Negotiating the procedures with another person Instead of keeping your money banned for years.

Invest not only for the elite

Operations have been carried out In three main places: The new bridge, where the merchants rose The first transactions for deeds in the world outdoor; KeySer’s Hendrick Stock Exchange, a market that has been specially designed for raw materials and procedures; and Al Sadd SquareWhere he was still negotiating outside the schedule depending on the latest news and rumors.

OPV was open throughout August. The amount of 3,674,945 fluorine was collected from 1,143 initial investors. One of them was Neeltgen Cornelis, who worked as a maid for a VOC owner. He invested 100 Florin, which is a difficult amount of winning when his salary reached 50 cents per day.

“This was very common and nothing is exceptional,” said Dutch economic historian Jean -Leitin Van Zandin. Although Cornelis might be surprised in the current context, it was very common at the time. “There were many measures that were negotiated and in which they invested, normal homes, carpentry or farms,” ​​said Van Zandin.

As explained Leave ordinary people It was the case of Johann Van Teldenbaneville, then a great retired for the Dutch Republic. This was before joining the pre -companies that merged into the volatile organic vehicles in a large company.

Waiting for profits

“The idea was to assemble them and create a more powerful company, not only commercial, but also military,” Marsen Barak explained to Euronews, describing the VOC formation as a deliberate force movement. “The Netherlands tried Be independent of the King of SpainBecause everyone was governed by the same crown: Portugal, Spain and the Netherlands. So he was looking at him too A form of war against the Spanish Empire in AsiaHe explains. This long -term vision was Aisha He caused an increased stopping between his shareholders.

In addition, another event pressure on the company: The first short seller in the world. In 1608, Isaac Le Mayer, the former director of discontent at VOC, directed what is now considered The first “raid bear” in history. LE MAIRE and Federation Use Treachment Contracts against VOC’s actions. These contracts, similar to the current futures, allowed investors to agree on a Selling price in advanceWaiting for the benefit when the real price decreased. Contrary to what was happening today, there was no need for guarantees: there was enough written agreement to close the treatment.

In -kind payments

This organized attack is exacerbated Frustration between investors Those who have expected returns for years, pressure on volatile organic compounds. Finally, in August 1609, the company He announced his first profit. It was not the money. Professor Van Zandin said: “They used the MacIs excess, which was difficult to sell at the time in the market,” noting how to distribute VOC to the spices from the nutmeg tree cultivated in the East India. “It was a kind of settlement solution,” he added.

From 1623, Flazed organic vehicles paid profits every two yearsAnd from 1635 regularly, often annually or semi -annual. In the thirties and 16 years, the shares mostly consist of nails, which are accepted by the shareholders. From 1646, profits They were mainly criticismWith bond distributions sometimes. This maintained the confidence of the shareholders and allowed prices to rise constantly.

Decompression from VOC

Professor Barak also described the decrease in volatile organic compounds at the end of the eighteenth century, and attributed them to the emergence of French and British colonial powers. The historian explains: “The Dutch Republic has already increased expensive to keep its competitors in a critical position,” the historian explains. “When it was clear that he would be broken, The Dutch government bought all measures. “

Pioneer in the main financial innovations since its establishment, Vo sat the foundations for the current capital markets. During the next two centuries, he remained a major representative in global trade, until its gradual decline. “This (the state of the central center) is a long period of good successes,” says Professor Van Zandin. “The failure at the end of the eighteenth century is related to the general weakness of the field with the rise of competitors,” he added.