What is the Buttonwood Agreement? The Buttonwood Agreement was an agreement signed on May 17, 1792, by 24 stockbrokers and merchants outside the Tontine Coffee House on 68 Wall Street in Lower Manhattan. It marks the beginning of the organized trading of securities in the United States. The agreement, named after the buttonwood tree under which the signatories gathered, established rules for trading and commissions and created the New York Stock Exchange (NYSE). This was a significant event in the history of finance and helped establish New York City as the financial capital of the world.

Why was the Buttonwood Agreement Signed?

The Buttonwood Agreement was signed by 24 Stockbrokers and Merchants because they wanted to formalize their business dealings and create a more organized marketplace for securities trading. At the time, securities trading was conducted in a haphazard manner, with no standardized rules or regulations. The signing of the Buttonwood Agreement aimed to rectify this situation by establishing a set of rules and guidelines for stockbrokers to follow, including regulations on commissions, trading hours, and dispute resolution. The agreement helped to establish a level of trust and stability in the securities market, which in turn helped to attract more investment and stimulate economic growth. Ultimately, the signing of the Buttonwood Agreement marked the beginning of the New York Stock Exchange and helped lay the foundation for the modern financial system.

Who Were the Signers of the Buttonwood Agreement?

Below is a list of some of the 24 Stockbrokers that signed the Buttonwood Agreement along with the addresses where their firms were located

• Peter Anspach – 3 Great Dock Street
• Armstrong & Barnewall – 58 Broad Street
• Andrew D. Barclay – 136 Pearl Street
• Samuel Beebe – 21 Nassau Street
• G. N. Bleecker – 21 Broad Street
• Leonard Bleecker -16 Wall Street
• John Bush -195 Water Street
• John Ferrers – 205 Water Street
• Bernard Hart – 55 Broad Street
• John A. Hardenbrook – 24 Nassau Street
• Ephraim Hart – 74 Broadway
• John Henry – 13 Duke Street
• Augustine H. Lawrence – 132 Water Street
• Samuel March – 243 Queen Street
• Charles McEvers Jr. – 194 Water Street
• Julian McEvers – 140 Greenwich Street
• David Reedy – 58 Wall Street
• Robinson & Hartshorne – 198 Queen Street
• Benjamin Seixas – 8 Hanover Square
• Hugh Smith – Tontine Coffee House
• Sutton & Hardy – 20 Wall Street
• Benjamin Winthrop – 2 Great Dock Street
• Alexander Zuntz – 97 Broad Street