History

History of Exchanges in the World

An exchange is a market place where merchants come together and trade with goods that can be measured by their numbers, measures and weight, under regulations set up and inspected by the state.

The history of stock trading goes back to 14th century. However, it actually goes far back to years 1200-1500 BC; according to the information from the writings of Romans and Phoenicians, people of these ages built the foundations of stock marketing with the fair they made.

In the 5th Century BC Roman Empire founded an institution that bear Roman Emperor Bosarium's name on the shores of River Tiber which passes through Rome. Even if it was different fom today's exchanges, the foundation of this institution which brought local merchants, wholesalers and middlemen, marked the foundation of stock marketing.

A new era began with the invention and usage of note in 12-13th centuries. The usage of notes in merchandising made trades more practical and easier. Formality of exchanges began in Middle Age fairs. These fairs developed first in Italy as street fairs. The fairs in Antwerp, Lyon and Geneva in 15th Century brought liveliness in business. In Bruges, processes of exchanges were made which can be seen as the pioneers of modern exchanging techniques. Especially with the discovery of continents and the opening of new trade routes and the shifting of world trade to the Atlantic increased the importance of Antwerp. Antwerp Exchange with its lobby surrounded by divisions enabled a large number of businessmen to participate in dealings. The word in the entrance of the building "In usumnegatiatorum Linguane" expresses the Exchange's openness to all people from every language. As understood from this word, the city of Antwerp opened its gates to everyone. After the opening of the Antwerp Exchange, Lyon and Toulouse Exchanges also began operational.

Hamburg and Bremen Exchanges have great importance in the world. The New York Exchange, one of the biggest exchanges in the world today, still holds its importance with its trade.

Today, commodity exchanging has a tendency towards derivative exchanging which include forward, future and optional processes. With this state of being, commodity exchanges are advanced models in economies.

The History of Exchanges in Our Country

Practically the first exchange in our country was founded in 2nd of December 1873 as "Dersaadet Bonds Exchange." As it can be understood from its name, it was a stock exchange.

Thirteen years after that date, on 15th of April 1886, with the "General Exchanges Regulation," the foundation of commodity exchanges began.

The first commodity exchange founded in our country was Izmir Exchange of Commodity and Industry which started operating in 1892.

Adana Commodity Exchange was founded in 1913, Istanbul Commodity Exchange in 1925 and Ankara Commodity Exchange in 1926.

History of Hayrabolu Commodity Exchange

Hayrabolu Commodity Exchange was established in 1972 with the permission of Ministry of Industry and Trade in accordance with the kaw no. 5590 and it's a legal entity which is in service dependently provisions of law no. 5174.

Commodity Exchange Assemble consists of 24 people wheras Board of Director consists of 5 people. Also Commodity Exchange is in service with the 9 personnel.

Hayrabolu Commodity Exchange;

  • Determines, registers and publishes daily prices of the commodities included to exchange,
  • Operates a modern Product Laboratory in order to determine types and qualities of commodities included to exchance,
  • Communicates with the members about the prices by following domestic and foreign exchange and markets,
  • Arrange auctions with a sales system by bringing producer and commercial men together and
  • Also market contribution to domestic farmers with our Soil Analyzing Laboratory for processing soil and using fertilizer

All sales records of the products which enter our quotation and are produced in our region are reported to our exchange and market prices are determined there.his prices are published in our website and bulletin board. Our Exchange has products and soil analyzing laboratory, salesroom and electronic scales with 60 tons capacity.

We do not take analyzing fee and sales organization cut from the sales occurs in our salesroom. We provide social and educational assistance with the frame of our budget and our power, duties in accordance with the law. Among these assistances, Commodity Exchange Cottage Hospital was built by our exchange and granted to Ministry of Health, an ambulance was given to State Hospital in our district, classes was contructed for some schools and computers were provided to many foundations in our district.

Hayrabolu Commodity Exchange has ISO 9001:2008 Quality Management System Certificate.



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