Back to Search
Start Over
The Market for Equity Options in the 1870s.
- Source :
- Journal of Finance (Wiley-Blackwell); Sep97, Vol. 52 Issue 4, p1707-1723, 17p, 4 Charts, 1 Graph
- Publication Year :
- 1997
-
Abstract
- The introduction of exchange-traded options in 1973 led to explosive growth in the stock options market, but put and call options on equity securities have existed for more than a century. Prior to the listing of option contracts, trading was conducted in an order-driven over-the-counter market. From 1873 to 1875, quotes for options contracts were published weekly in The Commercial and Financial Chronicle during a period that saw extensive marketing efforts by a number of brokerage firms. In this article we examine these quotes to determine why this seemingly sophisticated market existed for only a brief period in financial history. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 00221082
- Volume :
- 52
- Issue :
- 4
- Database :
- Complementary Index
- Journal :
- Journal of Finance (Wiley-Blackwell)
- Publication Type :
- Academic Journal
- Accession number :
- 9710090953
- Full Text :
- https://doi.org/10.2307/2329454