As technology evolved, so did Wall Street

A history of stock exchanges, from Venitain merchants to modern day

While the idea of stock exchanges—markets where securities can be bought and sold—is mostly synonymous with Wall Street, the New York Stock Exchange, and other modern markets, places to buy and sell financial instruments have a long history....

The history of Wall Street as a financial center dates back to the 1700s, beginning with the establishment of the New York Stock Exchange and New York City's first official slave market.

When the New York Stock Exchange was started in 1792, traders would meet both outside on the street and in coffee shops to do business.

Electronic trading transformed investing, ushering in a new era for retail investors in which average Americans could research stocks online and then use early platforms like StreetSmart and E-Trade to conduct their transactions

In the early 1990s, stock brokerages knew that online trading would be a great equalizer, creating opportunities for more individuals to buy and sell stocks.

The NYSE is one of the few remaining stock exchanges where much active trading still happens in person on the trading floor.

Wall Street has come a long way since the 1600s

Wall Street originated as part of a Dutch settlement and soon became the nation's financial hub. But Wall Street has since morphed into eight blocks of luxury gyms and apartments.

The origin and history of stock exchanges

When were stocks first sold? Though debt was first sold in Venice in the 14th century, stocks proper began in the Netherlands. To fund its spice trade across the world in 1602, the Dutch East India Company sold stocks to individual investors, a novel approach to raising funds. It was the Dutch West India Company that founded New York—the site of some of the world’s greatest stock exchanges. Listen to a concise historical overview here.

Key moments in fintech history include the transatlantic cable’s invention and E-Trade’s founding

Founded in 1982, E-Trade was the first-ever online brokerage, pioneering a method of investing that is common today. Its story is part of a timeline that the New York Times put together of key moments in early fintech history.

The Wall Street Journal: a timeline

The Wall Street Journal got its start as a financial news bulletin for people trading stocks. Since then, it has evolved beyond just financial news. It now ranks among the preeminent global business news sources.

After the 9/11 terrorist attacks in New York City’s Financial District in 2001, many banks decided to relocate

Much has been said about why today’s top banks are typically no longer headquartered on Wall Street itself. The terrorist attacks in New York City’s Financial District on Sept. 11, 2001, are one reason many banks decided to relocate.

The Nasdaq was founded in 1971, marking the debut of electronic trading

The Nasdaq stock exchange arguably invented electronic trading, making it a key part of fintech history. It's often used as a benchmark for how the tech industry is performing.

A timeline of Wall Street's history

Wall Street's historical timeline starts with Wall Street getting its name in the 1600s and ends with details about the Occupy Wall Street movement in 2011.

The first US stock exchange dates back to the 1790s in Philadelphia

Only two years after that stock exchange in Philadelphia started, the largest stock exchange in the US to date was created: the New York Stock Exchange.

Fintech relies on technology, not physical location, to serve financial customers

Most of the industry's prominent players were created since 2010, and are still in a growth phase. These institutions have broadly disrupted traditional banking and have pushed physical banking locations toward obsolescence.

Find out how companies decide which stock exchange to list on

Tech companies often prefer to list on the tech-focused Nasdaq, whereas more traditional organizations opt for the New York Stock Exchange. Sometimes the choice is made partly based on the services an exchange offers a company.

A stock market timeline

The stock market has come a long way since the 1600s, when the first version of a stock exchange was created in Amsterdam. Mile markers along the way include everything from the Dow Jones Industrial Average's creation in 1896 to the stock market woes during the COVID-19 pandemic in 2020.

In 1711, the New York City Common Council decided that the city’s slave market would operate on Wall Street

In 1711, the New York City Common Council decided that the city’s slave market would operate on Wall Street. Back then, the nation’s economy rode on the backs of slave labor and the slave trade itself—meaning that the slave market’s location was an economic hub for the city.

Peter Tuchman, who has worked on the trading floor of the New York Stock Exchange for over four decades and ranks among the most famous traders in history, is known as the 'Einstein of Wall Street.'

Companies sometimes change which stock exchange they're listed on.

What is after-hours trading?

While both the New York Stock Exchange and the Nasdaq open at 9:30 am ET and close at 4 pm ET, some trading is allowed after that. After-hours trading was once only open to institutional investors and people with particularly high net worths. Now, with the advent of computers, anyone can trade stocks anywhere online, and those regulations have broadened.

The Erie Canal transformed New York City into America’s banking capital

By redirecting western trade through New York Harbor, the canal turned New York into the nation’s commercial hub. This surge in commerce shifted financial power from Philadelphia to Wall Street, establishing the city as America’s banking capital.

The stock market, explained in 3 minutes

The stock market consists of a set of exchanges and other venues where shares of public companies are bought and sold. The Nasdaq and the New York Stock Exchange are two of the most well-known exchanges in the US, while major exchanges also operate around the world, including in Tokyo, Shanghai, London, and São Paulo.

See how New York City has grown since 1609

Wall Street and the southern tip of Manhattan were the first parts of the island to be developed beyond farmland by Dutch and English settlers. It wasn’t long until New York City resembled the city we know today.

Personal computers became more common in the late 1970s, making working from home more viable

As the internet and email became more popular in the 1990s, more infrastructure that would eventually support remote work was created. But the practice was still relatively uncommon until the COVID-19 pandemic, when white-collar workers first took to working from home en masse.

What’s up with the new Texas Stock Exchange?

The two biggest stock exchanges in the U.S. are both based in New York—the New York Stock Exchange and the Nasdaq. But a potential new “Texas Stock Exchange”—which would be based in, you guessed it, Texas—could change that. To find out more about the project, backed by enormous companies such as BlackRock and Citadel, watch this video.

London bankers created the first clearinghouse to process checks in 1770

Until that time, each banker was required to bring that day's checks to every other bank for settlement. Perhaps understandably, the first place bankers opted to gather to clear and settle checks was a tavern known as the Five Bells. The innovation gave rise to what would become clearinghouses, key institutions that facilitate payments.

From bartering to banking, temples to electronic transactions, here’s banking has evolved significantly since ancient times

A few historical facts about banking (like that one day, not long ago, certificates of deposit were physical pieces of paper) may not surprise you. But did you know that the church was the original lender? And that Julius Caesar himself invented foreclosure?

'The stock market' can be loosely defined as a set of exchanges and other places where shares of public companies are bought and sold.

Visualize the differences between the New York Stock Exchange and the Nasdaq.

The transatlantic cable allowed for communications between North America and Europe

It had significant impacts on just about every industry, including finance. Specifically, the transatlantic cable made it so that real-time financial transactions could take place across the Atlantic, and allowed for much faster sharing of information that increased global market accuracy.

Mapping early New York

Want to see how Wall Street (and New York City as a whole) has changed over time? Use this timeline and map to see Manhattan today overlaid with the precise boundaries of early land grants to the Dutch in the 1600s. Scroll through the progress of city building through the first century of European settlement there.

How COVID-19 brought new investors into the market

With fees removed from the equation and more time at home thanks to pandemic-related lockdowns, Americans who had never bought or sold stocks before started participating in the market. Charles Schwab dubs this cohort “Generation Investor” and notes individuals from all age ranges took part in this phenomenon. Study up here.

The world's oldest stock exchange was called the Amsterdam Stock Exchange

What is now referred to as Euronext Amsterdam got its start centuries ago, in the early 1600s. Back then, it was called the Amsterdam Stock Exchange—and it might not have existed without the Dutch East India Co.'s desire to raise funding for its seafaring ventures.

The dot-com boom sent tech stocks soaring before a historic collapse

A look at the dot-com bubble, when investors poured money into unproven internet startups, driving the Nasdaq to dizzying heights before it crashed by more than 80% after 2000, showing how new technologies can detach markets from reality.

Retail investing by the numbers

When average Americans began pouring into the stock market, Wall Street wasn’t sure if its new guests were there to stay. But at the end of 2023, Public confidently declared that retail investors “weren’t going anywhere” after 30 million new individuals began buying and selling stock. Download the report to learn more here.

Warren Buffett has been criticized for avoiding investing in tech stocks during the 1990s dot-com boom, as he wasn't confident in the future growth of the tech industry.

Read about when Nasdaq partnered with the London Stock Exchange in 1992, and other key moments in Nasdaq history

The partnership became the first intercontinental linkage between capital markets, setting the stage for worldwide trading amid increasing globalization. Nasdaq separated from its parent company in 2006, becoming a fully independent licensed national securities exchange. A year later, it added the Scandinavian-based Exchange, OMX.

How the stock market performed under every US president

It's worth noting that the stock market as we know it today didn't exist under the leadership of earlier presidents, such as George Washington and Thomas Jefferson.

Explore a visual timeline of fintech’s history and growth

From the debut of the world’s first ATM in 1967, to Apple Pay launching in 2014, financial technologies have come a very long way in a relatively short historical period. A colorful visual timeline highlights some of the most important milestones along the way.

How ancient Romans invested and worked

The first stock exchange didn't open for business until the early 1600s, but that didn't stop the Ancient Romans from working and investing their money centuries before. While Romans are better known for their political inventions than their economic ones, understanding how they viewed money can help paint a better picture of the Roman mindset that created systems like democracy. Read this article to learn more.

The Dow Jones & Company began as a small news service in 1882

Founded in 1882 by Charles Dow, Edward Jones and Charles Bergstresser, Dow Jones & Company started with hand-delivered market bulletins. Today it’s a global financial news giant, best known for publishing The Wall Street Journal.

Today's massive data centers evolved from single-room mainframes

Punch card computers from the late 1940s were used to store and process a company's data locally before the advent of desktop computers. As the amount of data and company sizes increased alongside the miniaturization of technology, mainframes were replaced by local server rooms and external facilities with interconnected servers running cloud-based and AI software.

ETFs were first created as an alternative to mutual funds, combining the diversification benefits of a mutual fund with the ability to trade throughout the day on a stock exchange.

In 1999, Microsoft and Intel’s addition signaled the information tech era for the Dow

Microsoft and Intel became the first information technology firms added to the DJIA. Their inclusion marked a turning point—the digital revolution and tech began to drive the American economy.

The New York Stock Exchange wouldn't have been made if not for municipal bond sales

The Funding Act of 1790 nationalized and consolidated the debt held by the 13 colonies to be sold off in the form of bonds.

Why does the stock market matter?

Open any newspaper, turn on your local TV news station, or listen to a daily business radio segment, and you’re bound to hear about how the stock market is performing. Netflix created a 17-minute (free) explainer that dives deep into the nitty-gritty of how we got here.

ATMs drastically expanded access to checking accounts in the 1960s

The invention disrupted the local bank industry, allowing customers to access cash around the clock and when out of town. The innovation also reduced the headcount needed for bank services and created a new revenue stream via ATM fees for noncustomers. This 50-year anniversary retrospective revisits the cash kiosk.

Hamilton founded what many regard as the first commercial bank in the United States

In 1784, Alexander Hamilton helped found the Bank of New York, which initially operated without a charter, financed early federal operations, provided what is considered the US government's first loan, and became the first stock traded on the New York Stock Exchange.

The Glass-Steagall Act separated commercial banks in the US from investment banks

In 1933, the Glass-Steagall Act legally separated commercial banks in the US from investment banks. However, by 1999, the act was repealed—meaning that today’s investment banks are no longer required to be separate from the type of bank where you deposit your paycheck.

Watch former Securities and Exchange Commission Chair Gary Gensler's 'Eras Tour' for the agency's 90th anniversary, a look back on the pivotal moments in the agency's history.