page_title: List of Dutch inventions and innovations
section_title: Foundations of stock market (1602)
hierarchical_section_title: List of Dutch inventions and innovations / Inventions and innovations / Finance / Foundations of stock market (1602)
caption_attribution_description: Nederlands: Ruben Schalk, geschiedenisstudent aan de Universiteit Utrecht ontdekte in het Westfries Archief te Hoorn het tot nu toe oudst bekende ‘aandeel’ ter wereld (2010). Het aandeel dateert van 9 september 1606 en is uitgegeven door de VOC-kamer Enkhuizen. Het stond op naam van Pieter Hermanszoon Boode. Het tweede blad toont de registratie van dividenden. English: Ruben Schalk, history student at the Universiteit Utrecht, discovered (2010) the so far oldest share in the world in the Westfries Archief in Hoorn. The certificate dates from September 9th, 1606 and was issued by the VOC-chamber Enkhuizen. It was sold to Pieter Hermanszoon Boode. The second page records the payments of dividend.
context_page_description: The Netherlands and its people have made numerous contributions to the world's civilization in art, science, technology and engineering, economics and finance, cartography and geography, exploration and navigation, law and jurisprudence, thought and philosophy, medicine. and agriculture. The following list is composed of objects, unknown lands, breakthrough ideas/concepts, principles, phenomena, processes, methods, techniques, styles etc., that were discovered or invented by people from the Netherlands and Dutch-speaking people from the former Southern Netherlands. Until the fall of Antwerp, the Dutch and Flemish were generally seen as one people.
context_section_description: The seventeenth-century Dutch merchants laid the foundations for modern stock market that now influences greatly the global economy. It was in the Dutch Republic that a fully-fledged stock market was established and developed for the first time in history. The Dutch merchants were also the pioneers in developing the basic techniques of stock trading. Although bond sales by municipalities and states can be traced to the thirteenth century, the origin of modern stock exchanges that specialize in creating and sustaining secondary markets in corporate securities goes back to the formation of the Dutch East India Company in the year 1602. Dutch investors were the first to trade their shares at a regular stock exchange. The Amsterdam Stock Exchange is considered the oldest in the world. It was established in 1602 by the Dutch East India Company for dealings in its printed stocks and bonds. Here, the Dutch also pioneered stock futures, stock options, short selling, debt-equity swaps, merchant banking, bonds, unit trusts and other speculative instruments. Unlike the competing companies, the VOC allowed anyone (including housemaids) to purchase stock in the trading at the fully operational Amsterdam Bourse. The practice of naked short selling was also invented in the Dutch Republic. In 1609, Isaac Le Maire, an Amsterdam merchant and a sizeable shareholder of the Dutch East India Company (VOC), became the first recorded short seller in history. The first recorded ban on short selling also took place in the Dutch Republic in the same year. In the early 17th century, Dutch merchants invented the common stock  –  that of the VOC. Also, the Dutch experienced the first recorded stock market crash in history, the Tulip Mania of 1636–1637. Since 1602, stock market trading has come a long way. But basically, the concept and principle of stock market trading is still upheld and is still being implemented up to now.
caption: One of the oldest known stock certificates, issued by the VOC chamber of Enkhuizen, dated 9 September 1606.[168][169][170][171] The establishment of Amsterdam Stock Exchange (1602) by the VOC, has long been recognized as the origin of modern stock exchanges that specialize in creating and sustaining secondary markets in the securities issued by corporations. By the 1680s, the financial techniques used in the Amsterdam financial markets were as sophisticated as any practiced today.
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