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Buttonwood Agreement

   Also found in: Wikipedia 0.02 sec.
Buttonwood Agreement
A historical 1792 agreement among 24 New York brokers to band together into an investment group. The name stemmed from the buttonwood tree that served as the Wall Street meeting place for members of the group.


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We need to be particularly careful, however, not to unintentionally and unnecessarily undermine sources of the extraordinary franchise values that have been built in to our equity markets, a process beginning with the Buttonwood Agreement of 1792, which founded what became the New York Stock Exchange.
Statements to the Congress by Federal Reserve Bulletin
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