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Innovations in Communications Technology and the NYSE - How the Telegraph Transformed the Structure of Securities Markets in the US, 1830–1860 (1st ed. 2023)
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Innovations in Communications Technology and the NYSE - How the Telegraph Transformed the Structure of Securities Markets in the US, 1830–1860 (1st ed. 2023)
Series: Palgrave Studies in Economic History
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In the 1830s New York, Philadelphia, and Boston each had a stock
exchange. These were the New York Stock Exchange (NYSE),
Philadelphia Stock Exchange, and Boston Stock Exchange. As there
was no reliable means of communicating between these cities in real
time, each exchange served its local market. The 1840s brought an
innovation in communications technology: the telegraph, which, in
time, brought these exchanges into competition with each other.
Three previously independent stock markets became, in effect, a
single market. If a security was listed on more than one exchange,
potential buyers and sellers could choose the exchange on which to
execute a trade in this security. This book closely analyzes this
competition. The NYSE emerged as the winner of this competition. It
became the place to trade securities that evoked regional, and
eventually national interest, while the Boston and Philadelphia
exchanges remained regional exchanges. This book analyses when and
why this happened. This analysis is applied to the competition
between (i) stock exchanges today; (ii) car rental aggregator
services such as Uber and Ola; (iii) restaurant to home, food
delivery services, such a Zomato and Swiggy; and (iv) doorstep
delivery services, such as Blinkit and Zepto.
General
Imprint: |
Palgrave Macmillan
|
Country of origin: |
Switzerland |
Series: |
Palgrave Studies in Economic History |
Release date: |
December 2023 |
First published: |
2023 |
Authors: |
Sonali Garg
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Dimensions: |
210 x 148mm (L x W) |
Edition: |
1st ed. 2023 |
ISBN-13: |
978-3-03-140406-1 |
Categories: |
Books
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LSN: |
3-03-140406-8 |
Barcode: |
9783031404061 |
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