Momentum is building for 24/5 trading. What does it mean for the future?
Stakeholders and industry bodies have progressed on some looming questions about overnight trading. Nyela examines what that and shortening settlement cycles means.
On May 17, 1792, a total of 24 brokers signed the Buttonwood Agreement, a document that established the first stock exchange on Wall Street. According to financial legend, the agreement was signed under a buttonwood tree, at what is now 68 Wall Street. It contained only two rules: the brokers were to deal only with each other, and they would charge clients a commission of 0.25% per transaction.
The agreement established a club where members could trade with each other exclusively under common
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