The First Boom
The First Boom
This chapter examines the first stock market boom in Amsterdam, which was in large part due to Christoffel Raphoen and his brother Jan. Thomas Sprenckhuysen, who had a share in the Dutch East India Company, agreed to sell his portion to Christoffel and Jan Raphoen, who were always willing to buy and sell shares. These days, they would be called market makers in New York or jobbers in London. By this period, share trading was being conducted in the Hendrick de Keyser Exchange. The Raphoen brothers’ activities as market makers provided access to the market for shareholders who were not familiar with how things worked on the exchange or were not in a position to come to the exchange in person to find someone to deal with. Christoffel and Jan Raphoen also played a key role in standardizing the Dutch East India Company share. The peak of Christoffel and Jan Raphoen’s market making coincided with an unprecedentedly upbeat mood on the exchange which was the result of the sharp rise in the Company share price.
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