Description of the attraction
The Vienna Stock Exchange was founded in 1771 by Empress Maria Theresa. In the early years of its operation, the exchange served mainly for trading on the bond and bill market. Special intermediaries, brokers, were responsible for the smooth functioning of the trade. The Austrian National Bank in 1818 became the first public company to trade its shares on the Vienna Stock Exchange.
Due to the political and economic importance of the Habsburg Monarchy at the time, the exchange soon gained international recognition. The economic boom has brought a wave of speculative companies to the stock exchange. The current trend led to the stock market crash in May 1873. About 90% of all listed companies have disappeared. It took decades to recover from the shock. Industrial enterprises moved from seeking financing through the stock market to obtaining loans and borrowings from large banks, which were to become one of the most important factors for the market. At the same time, it became necessary to develop new rules and laws for the growing trade. In 1875, the Vienna Stock Exchange Act was signed, which guaranteed the exchange full autonomy and smooth trading. In 1877, the opening ceremony of the new building of the Vienna Stock Exchange, built by the architect Theophil von Hansen, took place.
In the 21st century, the exchange continued to develop steadily - at present, the Vienna Stock Exchange controls trading on the Austrian Electricity Exchange, owns shares of the Hungarian Exchange and has close partnerships with many trading platforms.
