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Buttonwood Agreement

For other uses, see Buttonwood (disambiguation).
Depiction of traders under the buttonwood tree
A 1797 painting by Francis Guy. The building with the American flag is the Tontine Coffee House. Diagonally opposite (southeast corner, extreme right)[1] is the Merchant's Coffee House, where the brokers of the Buttonwood Agreement and others traded before the construction of the Tontine. On the right is Wall Street, leading down to the East River.

The Buttonwood Agreement is the founding document of what is now the New York Stock Exchange and is one of the most important financial documents in U.S. history.[2] The agreement organized securities trading in New York City and was signed on May 17, 1792 between 24 stockbrokers outside of 68 Wall Street. According to legend the signing took place under a buttonwood tree where their earliest transactions had occurred.[3] The New York Stock Exchange celebrates the signing of this agreement on May 17, 1792 as its founding.[2]

  1. ^ Hewitt, p. 31
  2. ^ a b Pisani, Bob (17 May 2017). "This single-paged document started the New York Stock Exchange 225 years ago". CNBC. Retrieved 7 April 2020.
  3. ^ Banner, Stuart (January 1998). "The Origin of the New York Stock Exchange, 1791–1860". The Journal of Legal Studies. 27 (1). The University of Chicago Press: 113–140. doi:10.1086/468015. JSTOR 10.1086/468015.

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