IPress 2_Layout 1 9/11/18 10:13 AM Page 30 ● World Stock Exchanges Map , p.4-5 ● De Beurs Van Amsterdam, from past to present , p.6 Stock Exchanges SPECIAL EDITION TIMELINE THE VOC Quick Facts The first formally listed public co- Amsterdam's rich mpany in history heritage as a financial n 20 March in 1602 in Amsterdam, a centre 1602-2018 great company and a great idea was born, the Dutch East India Company O (Verenigde Oost-Indische Compag - ● The six Chambers nie or VOC), a multinational corporation in its The VOC consisted of six Chambers (Kamers) modern sense and the world's first formally in port cities: Amsterdam, Delft, Rotterdam, listed public company, which issued shares to Enkhuizen, Middelburg and Hoorn. Altogether a broad audience. It was the brainchild of 1,143 investors subscribed to the initial capital Johan van Oldenbarnevel, the leading states - man of the Dutch Republic and the States- of the company's Amsterdam Chamber. General who granted it a 21-year monopoly over Dutch operations in Asia. ● The world's first IPO The VOC flourished and survived for two cen - The VOC undertook the world's first recorded turies. It had the power to start wars, make IPO in 1602 in Amsterdam, raising the vast sum treaties, imprison and execute convicts, strike of 6.5 million guilders. In 1606, the increase in its own coins and start new colonies. At its value of the shares stood at 200%. In 1610, the height, the VOC estab - lished headquarters in company paid out dividend for the first time. many different coun - tries, had a monopoly ● First rules for share trading over the spice trade and In 1610 the Dutch government prohibited wild was worth $7.9 trillion speculation on a price drop of the VOC share. in today's terms - more than 20 of the world's biggest companies. The ● Corporate social company's monogram logo was possibly in responsibility fact the first internationally recognized corpo - The ‘Tweede Nootwendiger Discours,’ a fa - rate logo. After 1730, the fortunes of the VOC mous pamphlet in which in 1622 angry VOC started to decline. The company was first na - shareholders for the first time publicly com - tionalised in 1796 and finally dissolved in 1799. But its destiny was not to stop there and plained about management self enrichment and remain a historical fact. More than four cen - secrecy, is a testimony of genesis of corporate turies after its establishment, the number of social responsibility (CSR). Portrait of Dirck Van Os (1556-1615). stock exchanges and initial public offerings Collection Stedelijk Museum Alkmaar (on loan from around the world prove that the VOC is still ● Confusion of confusions Hoogheemraadschap Hollands Noorderkwartier) alive. Who could imagine back then that In 1688 the book ‘Confusion de Confusiones’ nowadays nearly every country would have by the Sephardi Jew Joseph de la Vega was one or more stock exchanges, each supplying published in Amsterdam, analysing the work - the capital necessary to support industry ings of the city's stock exchange. It was the first growth. Without these vital funds, many inno - vative ideas would never become a reality. By book on share trading. Dirck Van OS , the most estimates approximately 630,000 com - panies are now traded publicly throughout the ● By 1669 the VOC world. We write those lines as a tribute to the was the richest private company the world had VOC and the world's people who worked with vision and faith to ever seen, with over 150 merchant ships, 40 create for the first time in history the first for - warships, 50,000 employees, a private army of mally listed public company. Not only all in - 10,000 soldiers, and a dividend payment of terested parties should know that but we first stock exchange believe that a specific day should be desig - 40% on the original investment. nated by all stock markets in the world in the memory of those innovators. If millions of ● The world's first Research and writing by Kyriaki I. Balkoudi people and companies thrieve today it’s partly investment fund because of them. In 1774, Abraham van Ketwich, an Amster - dam-based realtor and merchant founded ‘Een - irck van Os (Antwerp 13 March 1556 – Amsterdam 20 May 1615) was a merchant, dragt Maakt Magt’ the first investment fund in entrepreneur, investor, financier and shipowner. He is among the founders of the the world. Compagnie van Verre-a forerunner of the Dutch East India Company- set up in 1594 to break Portugal's monopoly on the pepper trade, the Amsterdam Exchange Bank ● From the 19th-21st century D and the Dutch East India Company ( Verenigde Oost-Indische Compagnie or VOC). During the 19th century over 100 American and several dozens of Russian railways were listed Van Os was born in Antwerp to a weaver originally from 's-Hertogenbosch, a city in the Southern on the Amsterdam exchange. Between 1865 Netherlands, who had moved to Antwerp and labored in glassworks. He served as captain of militia in and 1900, the number of companies with a the Fall of Antwerp, wherein the city surrendered to the Duke of Parma and then moved to Middelburg, in the south-western Netherlands. In 1602 he was one of the founders of the VOC. He served as one stock exchange listing grew from approxi - of the first directors and was one of the largest investors. According to the historian Russell Shorto, mately 115 to over 1,000. Around the year Van Os’s biggest contribution to history may be in the fact that in the NES street in Amsterdam where 2000, approximately a quarter of all Dutch his residence was located, Van Os and his merchant colleagues gave birth to the concept of “shares of households invested. Between January 2014 stock”, enabling investors from all strata of the population to invest in the VOC, a new kind of company and March 1, this year, 20 companies have one that allowed backers to sell their portion at a later date, at a higher (or lower) value. The world’s oldest know share issued by the listed in Amsterdam, raising a A few years later, a little farther down the NES street, came the first stock exchange. Today the NES VOC chamber of Enkhuizen, 09/09/1606 total of 14.9 billion euros. has everything on it from banks to theaters. And near the street still is the Amsterdam Stock Exchange. (Westfries Archief, Hoorn) IPress 2_Layout 1 9/11/18 10:13 AM Page 31 4 World Stock Exchanges September / 2018 1AMERICAS 2 EUROPE NORTH AMERICA SOUTH AMERICA 28. ALBANIA Tirana ALSE 0. BAHAMAS Nassau BISX 9. MEXICO Mexico City BMV 18. ARGENTINA Buenos Aires BCBA 29. AUSTRIA Vienna WIENER BORSE 30. BELARUS Minsk BCSE 1. BARBADOS Saint Michael BSE 10. MEXICO Mexico City BIVA 19. BRAZIL Sao Paulo BOVESPA 31. BELGIUM Brussels EURONEXT 2. BERMUDA Hamilton BSX 11. NICARAGUA Managua BVDN 20. CHILE Santiago SSE 32. BOSNIA-HERZEG.Banja Luka BLSE 3. CANADA Toronto TSX 12. PANAMA Panama City BVP 21. COLOMBIA Bogota BVC 13. SAINT KITTS & NEVIS Basseterre ECS E 32a.BOSNIA-HERZEG. Sarajevo SASE 4. CAYMAN ISLANDS Grand Cayman SXE 22. .EQUADOR Quito BVQ 33. BULGARIA Sofia BSE 5. DOMINICAN REP. S.Domingo BVRD 14. TRINIDAD & TOBAGO P. of Spain TTSE 23. .HONDURAS Tagucigalpa BVC 15. UNITED STATES Chicago CHX 34. CHANNEL ISLANDS Guernsey TISE 6. EL SALVADOR San Salvador BVES 24. PARAGUAY Asuncion BVPASA 35. CROATIA Zagreb ZSE 16. UNITED STATES New York NASDAQ 7. GUATEMALA Guatemala City BNV 25. PERU Lima BVL 36. CYPRUS Nicosia CSE 17. UNITED STATES New York NYSE 8. JAMAICA Kingston JSE 26. URUGUAY Montevideo BVM 37. CZECH REPUBLIC Prague PSE 27. VENEZUELA Caracas BVC 46 A M S T STOCKHOLM E R 56 D A 66 3 M 38 TORONTO 47 55 70 42 FRANKFU LONDON 34 31 42a 37 57 41 51 63 29 15 67 64 45 ZURICH 67a 62 48 35 54 17 32a NEW YORK CITY 32 52 16 58 28 NEW YORK CITY 65 MADRID 4 43 86 53 2 114 102 98 0 10 * 9 4 5 13 8 1 89 23 * * 7 * ** 6 11 * * 14 106 27 * 12 91 95 24 * 105 ** 21 26 90 ** AFRICA 94 ** 22 5 World 84. SOUTH SUDAN Juba To be launched 85. ETHIOPIA Addis Ababa ECX 86. ALGERIA Algiers IL BOURSA 87. ANGOLA Luanda BOVIDA Stock 25 88. BOTSWANA Gaborone BSE 89. CAPE VERDE Mindelo BVC 87 90. CAMEROON Duala DSX 91. COTE D'IVOIRE Abidjan BRVM * Exchanges 92. EGYPT Alexandria EGX 19 SAO PAULO 93. EGYPT Cairo EGX 94. GABONE Libreville BVMAC ** 95. GHANA Accra GSE Map 96. KENYA Nairobi NSE 104 97 LESOTHO Maseru MSM 20 98. LIBYA Tripoli LSM This map shows the stock exchanges around the 99. MADAGASCAR Antananarivo MEX world. The 20 largest by market capitalization of listed 100. MALAWI Blantyre MSE companies are marked with their logo, the city they are 101. MAURITIUS Port Louis SEM located and a bold number in a circle. All are pre - 102. MOROCCO Casablanca CASA SE sented in alphabetical order by continent, country and 18 103. MOZAMBIQUE Maputo BVM city. As of March 2018, the NYSE ranked as the largest 104. NAMIBIA Windhoek NSX by market capitalization with a value of tradable 110 105. NIGERIA Abuja ASCE shares amounting to 23.12 trillion U.S. dollars. 106. NIGERIA Lagos NSE 107. RWANDA Kigali RSE 108. SEYCHELLES Victoria SSE WORLD STOCK EXCHANGES 109. SOMALIA Mogadishu SSE * ISSN (Pending) 110. SOUTH AFRICA Johannesburg JSE o published by 111. SUDAN Khartoum KSE th EuropaProPress Ltd 112.