Organizational Changes of Markets and Exchanges

kasi — Wed, 09 Apr 2008 15:05:38 +0000

In Hulls book about futures and options, he mentions the profound changes that the Exchanges went through. While most of the different type of futures at the Chicago Mercantile Exchange were established well before the 1970ies, the formation of options all started roughly at the same time between 1973 and 1976.

The Chicago Board of Trade set up the Chicago Board Options Exchange in 1973, the American Stock Exchange and the Philadelphia Stock Exchange began trading stock options in 1975, the Pacific Exchange in 1976.

Mental note: find out when other Stock Exchanges (in the other G7 countries) opened their options markets and see if that relates to the profound changes in the markets going on after the end of fixed exchange rates (and if so why exchange rate regimes suddenly have an impact on the organization of stock markets).

Topics of this post: exchange rates, exchanges, financial institutions, g7, john c. hull, Memo, options, stocks

Kasinomics » exchanges

Organizational Changes of Markets and Exchanges