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一、1986年英国金融“大爆炸”带来的股市变化股票市场的产生和发育成熟过程,是与经济发展程度和规模相适应的。17世纪,伦敦曾是欧洲最大的贸易口岸之一和经济活动中心。随着新大陆的发现,很多商人愿意以风险入股的方式参与遥远地区的开发,形成了最早股票市场的雏形。1802年,伦敦股票市场被正式立法认可,允许自由买卖股票。从1912—1986年,伦敦证券交易所的制度员几经修改,但基本制度维持不变。其主要特征是: (1)固定佣金,即经纪人只能从投资者处获取固定份额的佣金。
I. The Stock Market Changes brought about by the Great Britain’s “Big Bang” in 1986 The emergence and maturity of the stock market is in line with the degree and scale of economic development. In the 17th century, London was once one of Europe’s largest trading ports and an economic activity center. With the discovery of the New World, many businessmen are willing to participate in the development of remote areas in a risk-taking manner, forming the earliest prototype of the stock market. In 1802, the London stock market was formally sanctioned by law, allowing free trading of stocks. From 1912 to 1986, the staff of the London Stock Exchange have been modified several times, but the basic system remained unchanged. Its main features are: (1) a fixed commission, that brokers can only obtain a fixed share of the commission from investors.