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An Introduction to Trading in the Financial Markets: Market Basics by R. Tee Williams

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History

Although not a history per se, this book offers a basic knowledge of how the securities markets evolved in order to help the reader understand market structure today.

Trading in commodities and, later, finished goods dates from earliest recorded history. On the other hand, trading in financial instruments is a more recent phenomenon. The first recorded trading market for financial instruments began in the city of Bruges in what is now Belgium. The trading took place in a tavern owned by a family named Van der Bourse. Interestingly, in much of the developed world, the words “beurs” (Dutch), “bourse” (French), “börse” (German), and “bolsa” (Spanish) are used instead of “exchange” to signify financial markets. A physical place was necessary ...

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