The New York Stock Exchange was formally organized on March 8, 1817 as the New York Stock & Exchange Board; adopting its modern name in 1863.
It followed and built on the Buttonwood Agreement signed by 24 brokers on May 17, 1792, on Wall Street in New York City to establish a safer, more structured market for securities, aiming to curb excessive commission rates and establish trust among brokers. While early, informal trading occurred under a buttonwood tree at 68 Wall Street, the formally organized Stock exchange moved into rented rooms, eventually establishing a permanent home.
