TeachMeFinance.com - explain Paris Bourse
Paris Bourse -- The official name is "The Company of the
Paris Bank, Exchange, Trade, and Finance Brokers". The
governing body of the bourse is the chambre syndicate. A
membership in the bourse can only be secured by purchase
(as in the New York Stock Exchange) and then the candidate
for membership must secure the approval of the Minister of
Finance before he can present his name for election, and the
election is by vote of the members as a whole and not by a
committee. A member is elected for life as in the New York
A membership in the Paris Bourse may be owned by
twelve persons, but it must be in the name and control
of some one of the owners, who alone has the right to do
business in the bourse and must own outright at least onefourth
of the membership.
The small enclosure in the Paris Bourse set apart for the use
of the seventy official brokers or agents de change is designated
as the parquet; also the agents themselves as a body
are designated as the parquet to distinguish them from the
coulisse or body of outside brokers, these outside brokers as
individuals being termed coulissiers.
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