Financial services have been experiencing a succession crisis since the signing of the Buttonwood Agreement
The resulting Bitcoin Brokers' Agreement closely mirrors the Buttonwood Agreement
that formed the foundation of the New York Stock Exchange, which initially faced similar challenges to today's bitcoin marketplaces.
Whether theyre spouting details about the Buttonwood Agreement
or admiring the longtime letter code used for buying and selling futures traders are well-aware of their place in history; those whove followed in the footsteps of parents and grandparents perhaps most of all.
He along with two other Jews, Alexander Zuntz and Bernard Hart (both Ashkenazim), signed the 1792 Buttonwood Agreement
, the forerunner of the Exchange.
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.
His account of the beginning of stock trading in New York City in the 1790s does not mention the beginning of regular stock auctions in August 1791, and provides a confusing and inaccurate account of the events leading to the signing of the so-called Buttonwood Agreement
in May 1792.
Wall Street's history actually began with the Buttonwood Agreement
in 1791, but the most turbulent years have occurred in our century.