Buttonwood agreement

Definition

An agreement signed in 1792 between twenty-four stockbrokers that effectively created the New York Stock Exchange. The terms of the agreement indicated that stockbrokers were to only deal with each other (no auctioneers), and that they would use a set commission rate of 0.25%. The agreement was so named because it was signed under a buttonwood tree outside of 86 Wall Street.

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You should try to do some research on the buttonwood agreement and see if there is a way to make it work for you.

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The buttonwood agreement was really cool to me and I found out that it was signed in 1792 and was much different than everything else.

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While finishing his MBA, he took a course on financial history. Once of the subjects discussed was the Buttonwood agreement which effectively created the New York Stock Exchange.

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