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IN THE NEWS
TOUR OF THE MONTH
ON THIS DAY IN LONDON
18th February 1917 Born today: Phyllis Calvert, London, actress (Man in Grey)
18th February 1901 Born today: Reginald Sheffield, London England, actor (Second Chance)
18th February 1775 Born today: Thomas Girtin, London, artist/watercolorist
Money, Money, Money
Where the money is at...or indeed where we think it is
Location: 10 Paternoster Square, EC4M 7LS
Description: The 'London Stock Exchange' was founded in 1801 and is one of the largest stock exchanges in the world, with many overseas listings as well as British companies.
The exchange is part of the London Stock Exchange Group and so sometimes referred to by the ticker symbol for the group, LSE.
The trade in shares in London began with the need to finance two voyages: The Muscovy Company's attempt to reach China via the White Sea north of Russia, and the East India Company voyage to India and the east. The trading in the stocks of the second company began in 1688.
In 1697, a law was passed to 'restrain the number and ill-practice of brokers and stockjobbers' following a number of insider trading and market-rigging incidents. It required all brokers to be licensed and to take an oath promising to act lawfully.