Price formation in the Danish stock market in the 1890s

Abstract

Trading¹ in stocks has a fairly long history in Denmark. It dates back to the end of the 17th century at least, as evidenced by M?glemes Articler from 1684, where one can find information about brokerage fees for sales and purchases of shares of the East Asian, West Asian and other chartered trading companies. In the beginning of the 18th century, newspapers started carrying information about transactions in stocks. Stock exchange price quotes were listed in the newspapers fairly regularly from around 1760.