New York Stock Exchange created 1792

Buttonwood agreement

An agreement signed in 1792 between twenty-four stockbrokers that effectively created the New York Stock Exchange. The termsof the agreement indicated that stockbrokers were to only deal with each other (no auctioneers), and that they would use a set commission rate of 0.25%. The agreement was so named
because it was signed under a buttonwood tree outside of 86 Wall Street.