History of the Prague stock exchange.
Despite of short enough history, the Czech share market developed rather dynamically and it was generated with all necessary attributes in the end of 19 centuries. Necessities of an internal exchange and its growth have served development of fairs. At first they had just local and speculative character.
Grain, cattle, horses marketed mainly on them. First time trade occurred at “Horse fair” (Konsky trh), and since 1882 on Senov square. The first commodity exchange has appeared in Prague in 1861 (”Produktenhalle”), but because of a small amount of participants the stock exchange has stopped the existence in a year.
Following attempt of formation of a stock exchange in 1871 has led to long-term success. Motivation has served the application made by influential people of the Prague economic elite led by Alois Oliva he was the wholesale dealer of sugar. Owing to its application financial resources for creation and functioning of a stock exchange have been received. At this stock exchange circulated both securities, and the goods (grain and other agricultural products). At a stock exchange trade of sugar was successfully enough spent. Prague during this period, perhaps, was the basic shopping center within the borders of Austro-Hungarian Empire. Nevertheless, after the First World War the goods have stopped to circulate at a stock exchange.
The Second World War has stroked the hardest blow on a financial condition both the country, and a stock exchange as a whole. The stock exchange has stopped the existence up to 1990. In May, 1990 the Preliminary committee on the organization of the Prague stock exchange has been created. 24 august of 1993 the company consisting of 8 chambers of commerce, has been transformed to association. In connection with the acceptance of the certificate “About stock exchanges” the association has been reorganized in the Prague stock exchange.
For short enough term the stock exchange has been automated, on April, 6th, 1993 the beginnings to function. With transitive economy the model of independent agency for the control over the share market is peculiar to all countries. In April, 1998 in Czech supervising functions send from the Ministry of Finance to the independent commission under securities. On June, 14th, 2001 the Prague stock exchange became a member of Federation of the European stock exchanges.