The Knickerbocker Trust Company

           Financial crises have been around longer than many realize. Imagine reading that the stock market plunges by 50%, recession follows, investment firms and banks fail across the country, and the government seeks to get to the bottom of what happened. Could that be describing the Great Depression or the most recent recession? In either case,

Pricing in Eighths

           Up until the year 2000, stock exchanges in the US quoted share prices in eighths. That meant the smallest increment that a stock could move was one-eighth of a dollar, nothing less. In the normal course of a trading day, one share of FedEx would trade hands at $14.125 or $14.25 but nothing in between.

The Tontine Coffee-House

           Those who know a bit about New York’s financial past have almost certainly heard of the Buttonwood Agreement. In 1792, two dozen stockbrokers signed a now famous pact agreeing to trade directly with each other, bypassing any middlemen, under a Buttonwood tree on Wall Street. This agreement standardized trading between them and is thus thought

Social Share Buttons and Icons powered by Ultimatelysocial
LinkedIn