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24 merchant-brokers established a more formal operation for trading securities. They signed the Buttonwood agreement, it was supposedly signed under a large buttonwood (sycamore) tree, which marked the beginning of the New York Stock Exchange.
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Traders who had signed the Buttonwood agreement joined with others to form a formal organization: NYS&EB at 40 Wall Strret. Name would later change to New York Stock Exchange.
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