Trading forward: The Paris Bourse in the nineteenth century

Paul Lagneau-Ymonet and Angelo Riva

Business History, 2018, vol. 60, issue 2, 257-280

Abstract: Contrary to what law and finance theory would predict, the Paris Bourse was highly liquid at the turn of the twentieth century: the traded volumes amounted to four times the French GDP. This magnitude was mainly due to forward trading. The Bourse had developed as a forward market, despite a ban on forward transactions. The guild-like body running the Bourse played a key role in legitimizing and legalizing these operations, previously equated with gambling. The 1885 legalizing act initiated a new field of law (‘securities law’) and paved the way for the heyday of the Paris Bourse.

Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://hdl.handle.net/10.1080/00076791.2017.1316487 (text/html)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Trading Forward: The Paris Bourse in the Nineteenth Century (2019)
Working Paper: Trading forward: The Paris Bourse in the nineteenth century (2018)
Working Paper: Trading forward: The Paris Bourse in the nineteenth century (2018)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:bushst:v:60:y:2018:i:2:p:257-280

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/FBSH20

DOI: 10.1080/00076791.2017.1316487

Access Statistics for this article

Business History is currently edited by Professor John Wilson and Professor Steven Toms

More articles in Business History from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().