Stock Exchanges
The first stock traders used to meet in Philadelphia in 1790 on what is now Wall Street. This center of the stock action moved to New York and in 1817 the New York Stock Exchange was established. A rival, the New York Curb Exchange, started meeting on the street across from the NYSE and eventually moved inside around 1921. Eventually, in 1953, they became the American Stock Exchange and began trading in international exchanges. They were soon acquired by the NYSE Euronext, the NYSE's parent company, and then in 2008 they became the New York Stock Exchange Amex, showing exactly how far stock exchanges have come.
Naturally, there have been vast improvements in the stock market exchanges since that time. For example, international exchanges are common today, but originally it was a fairly limited area until it spread further and more and more foreign exchanges began to occur, opening up new possibilities for everyone involved in the market.
Of course there are have been many other changes and additions since they started, as new rules and opportunities for trading opened to anyone who was so inclined and enjoyed the practice. Along with all of the changes, it was inevitable that the Internal Revenue Service would get involved with tax laws and regulations. One such area is the 1031 property exchange that allows tax deferments on properties that meet certain conditions. These transactions do not even have to be completed in the traditional sense of buying and selling in physical stock exchanges; like many other transactions they can be completed in an office or even online.
Most of the experts and traders agree that the section 1031 exchange can be very beneficial to investors, especially those who have some type of non-income producing property. A property may be exchanged for a different property that will not only produce a cash flow, but can also be used for income tax deductions, including depreciation, which you would not have had with your original property.
There is no doubt that one of the major areas of change is technology and more and more trading is being conducted electronically. The "original" stock exchanges, such as the New York Stock Exchange, are known as traditional markets, distinguishing them from the others that will allow a broker to trade from their office anywhere in the country. While some trades, such as the IRS 1031 exchange requires physical contact for notarizing the titles and deeds, many others are conducted online.
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