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Amsterdam as the cradle of modern futures and options trading ...

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Figures<br />

Figure 1. Monthly transfers <strong>of</strong> shares <strong>of</strong> <strong>the</strong> <strong>Amsterdam</strong> Chamber <strong>of</strong> <strong>the</strong> VOC, calculated <strong>as</strong> a<br />

percentage <strong>of</strong> <strong>the</strong> total stock <strong>of</strong> capital, 1603-1612 (with six months’ moving average)<br />

140,000<br />

130,000<br />

120,000<br />

110,000<br />

100,000<br />

90,000<br />

80,000<br />

70,000<br />

60,000<br />

50,000<br />

40,000<br />

30,000<br />

20,000<br />

10,000<br />

0<br />

1603<br />

Source 111<br />

1604<br />

1605<br />

1606<br />

1607<br />

1608<br />

16<br />

1609<br />

1610<br />

1611<br />

1612

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