Encyclopedia › History ›

The first shares and exchanges

In 1602 the Dutch East India Company (VOC) opened its share subscription to anyone. It raised about 6.5 million guilders and is regarded as the first company with freely tradable shares.

Early trading happened outdoors on a bridge and in chapels. The first purpose-built exchange building in Amsterdam opened in 1611, mainly for commodities, with shares traded at the back. The VOC did not found the exchange.

The oldest surviving 'share' is actually a payment receipt from 1606, found in an archive in 2010. The VOC never printed share certificates.

Timeline for this chapter

1602 · The first shares and exchanges
The Dutch East India Company (VOC) opened a subscription to all comers (open until 1 Sept 1602) and raised about 6.5 million guilders. It is regarded as the first company with freely tradable shares. beursgeschiedenis.nl, westfriesarchief.nl
1602–1611 · The first shares and exchanges
Early VOC share trading took place on the Nieuwe Brug and in chapels and churches. The VOC did not found the exchange. worldsfirststockexchange.com
9 Sept 1606 · The first shares and exchanges
The oldest surviving "share" is a VOC payment receipt from the Enkhuizen chamber (found in 2010 in the Westfries Archief). The VOC issued no share certificates. westfriesarchief.nl
31 Jan 1609 · The first shares and exchanges
Amsterdam founded the Wisselbank (Bank of Amsterdam), a public giro bank whose deposits were backed by coin, to end coin debasement and confusion. It became a de facto central bank, failed after the 1780s–1795 shocks and closed in 1820. DNB calls it 'an early stablecoin'. dnb.nl, pure.uva.nl
1611 · The first shares and exchanges
Amsterdam's first exchange building (Beurs van Hendrick de Keyser) opened. It was mainly a commodities exchange, with shares traded at the back. beursgeschiedenis.nl

← Full timeline

Education only, not financial advice. No signals. Backtests are hypothetical: real trading can be worse. Past results don't predict future results.