University of Hertfordshire

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Original languageEnglish
Pages (from-to)8-30
JournalEconomic History Review
Journal publication date2009
Volume62
Issue(S1)
DOIs
Publication statusPublished - 2009

Abstract

This article uses data from the ledgers of the financial broker Charles Blunt to explore the market in equity options that emerged in London during the stock market boom of the early 1690s. Blunt's ledgers provide a unique opportunity to observe the workings of an early modern derivatives market. They reveal a broadly based and highly active trade in options. The market functioned well, determined value using agreed criteria, and was utilized by a diverse range of individuals to facilitate both risk-seeking and risk-averse investment strategies.

Notes

The definitive version can be found at: http://onlinelibrary.wiley.com/ Economic History Society 2008 [Full text of this article is not available in the UHRA]

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