History
The origins of the Frankfurt Stock Exchange go back to the 9th century and a free letter by Emperor Louis the German to hold free trade fairs. By the 16th century Frankfurt developed into a wealthy and busy city with an economy based on trade and financial services.
In 1585 a bourse was established to set up fixed currency exchange rates. During the following centuries Frankfurt developed into one of the world's first stock exchanges - next to London and Paris. Bankers like Mayer Amschel Rothschild and Max Warburg had substantial influence on Frankfurt's financial trade.
In 1874 Frankfurt Stock Exchange moved into its new building at Börsenplatz.
It was only in 1949 after World War II that the Frankfurt Stock Exchange finally established as the leading stock exchange in Germany with consequently incoming national and international investments.
During the 1990s the Frankfurt Stock Exchange was also bourse for the Neuer Markt (German for New Market) as part of the world wide dot-com boom.
In 1993 the Frankfurter Wertpapierbörse (Frankfurt Stock Exchange) became Deutsche Börse AG, operating businesses for the exchange.
From the early 1960s onwards the Frankfurt Stock Exchange took advantage of the close by Bundesbank which effectively decided on financial policies in Europe until the introduction of the euro in 2002. Since then the exchange profits from the presence of the European Central Bank in Frankfurt am Main.
In 2002 and 2004 Deutsche Börse was in advanced negotiations to take over London Stock Exchange, which were broken off in 2005.
Read more about this topic: Frankfurt Stock Exchange
Famous quotes containing the word history:
“There is no example in history of a revolutionary movement involving such gigantic masses being so bloodless.”
—Leon Trotsky (18791940)
“Hence poetry is something more philosophic and of graver import than history, since its statements are rather of the nature of universals, whereas those of history are singulars.”
—Aristotle (384322 B.C.)
“We have need of history in its entirety, not to fall back into it, but to see if we can escape from it.”
—José Ortega Y Gasset (18831955)