Definition of Securities in the Early Stock Market
Detailed stock market data dates back to 17th century London, when the Bank of England and East Indies Company issued stock to raise capital for domestic and foreign ventures. The New York Stock Exchange was established in 1792, not long after colonization began in the Americas. Without electronic trading methods of today, all stock certificates were printed on physical paper with measures taken to prevent forgery.
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Other Types of Securities
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The term "securities" refers to one or more of a variety of investment vehicles, including bonds, interest in a partnership and other investment contracts. Bonds date back to early 16th century Europe and investment contracts have existed in various forms for much longer.
The New York Stock Exchange (NYSE)
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Founded in 1792, the NYSE began with just five listed securities. Three were government issued bonds used to finance the Revolutionary War and the other two were bank stocks, one being Bank of America. Brokers were commissioned by the government to trade and sell securities.
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Stock and Bond Art
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Both to prevent forgery and as a novelty, stocks and bonds were largely distinguished by unique artwork. Certificates featured icons recognized for liberty, freedom and prosperity. Other security measures included watermarking, serial numbering and tearing documents in such a way that leaves a "house copy" as proof of authenticity.
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