1st Commercial Credit is a nationwide factoring company that provides accounts receivable financing in the US, Canada & the UK.
During America’s War of Independence against the British Crown, the provisional colonial government—in need of funds to finance the ongoing struggle—sold bonds to the public. Attached to the bonds was a pledge of not only repayment of their principles, but a return of profit as well. At around this same time, private banking institutions commenced the practice of selling shares of their companies, as well as stock offerings to raise capital.
Several years later in 1792, during George Washington’s administration, a highly select group of very wealthy merchants founded the New York Stock Exchange (NYSE). The businessmen inaugurated a custom of assembling daily to trade stocks and bonds, which continues to this day.
Initially, these regular gatherings on Wall Street were the province of the super rich. It was only during the mid-nineteenth century—with the young American nation growing in leaps and bounds—that increasing numbers of companies sold stocks to a more widespread investor class.
As the country ushered in the twentieth century, a secondary market of speculators emerged, as stockholders realized that they could profit by reselling their stocks. While the NYSE traded in predominantly sizeable and established companies, mid-sized and smaller companies wanted in, too, and formed what was later dubbed the American Stock Exchange (AMEX).
As a broader and more diverse investor class traded in the stock exchanges, unconstrained speculation coupled with no government regulation inspired both the market crash of 1929 and the ensuing Great Depression, as many people lost their entire life savings.
Congress passed the landmark Securities and Exchange Act in 1934, which formed the Securities and Exchange Commission (SEC) to establish rules and regulations for stock market trading. This legislation has consequently made trading on exchanges more transparent, but clearly not risk-free, which the stock market will never be.
Beside Stock market there is also Forex Exchange market. The modern foreign exchange market began forming during the 1970s when countries gradually switched to floating exchange rates from the previous exchange rate regime.It is a global, worldwide decentralized over-the-counter financial market for trading currencies.
In a typical foreign exchange transaction, a party purchases a quantity of one currency by paying a quantity of another currency. Today, everyone can become forex trader, working by himself or with Forex broker.
