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The Vienna Stock Exchange was founded in 1771 at the initiative of Maria Theresa. The building of the exchange was built according to the Parisian model by the architect Theophilus van Hansen.
In the early years of its existence, the exchange served mainly for trading on the market of bills of exchange and bonds. Brokers (special intermediaries) were responsible for stable trading. In 1818, the National Bank of Austria was the first public company to list its shares on the Vienna Stock Exchange.
Due to the economic and political importance of the Habsburg monarchy at the time, the exchange quickly gained international recognition. This rapid development has led to a large flow of speculative companies on the stock exchange, which led to the collapse of the stock market (1873). It took decades to recover from this negative situation.
In 1956, the big floor of the stock exchange was destroyed by fire. After that, the interior of the building and the courtyard were reconstructed in a modern style.
In the 21st century, the exchange is developing steadily. Currently, the Vienna Stock Exchange owns shares in the Hungarian exchange, controls trading on the Austrian electricity exchange and has partnerships with a large number of trading floors.
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Topic: Stock Exchange in Austria, Vienna spa.