The Amsterdam Exchange is unique for several reasons. In the 17^th century, this was because, following the first IPO of the Dutch East India Company (VOC), it became known worldwide as the cradle of global share trading. From the beginning of the 18^th century, it became the leading source of a financier of foreign countries. In the final quarter of the 19^th century, another remarkable but little-known development took place: the incorporation of a private organisation which, unlike its counterparts in neighbouring countries, took the initiative to establish a national stock exchange. In other countries, without exception, exchanges were established at the initiative of the national government.

Specifically, this refers to the incorporation of the Vereniging voor de Effectenhandel (VvdE), the Amsterdam Stock Exchange Association. The VvdE was founded on 17 May 1876, exactly 150 years ago today. Following the difficult period under French rule, the Dutch economy began to gain momentum towards the end of the 19^th century and the modern Amsterdam Exchange took shape. Many companies that are now well known, or their predecessor companies, were established and turned to the capital market, including ABN Amro, Heineken and Shell. This prompted the Amsterdam securities industry to join forces and establish the VvdE.

As a non-profit organisation, the VvdE worked to improve the structure and regulation of the securities market. In the early 20^th century, it also took the initiative to establish a dedicated exchange building for securities trading: Beursplein 5. It brought together parties involved in the capital markets and, through self-regulation, also supervised trading on the stock exchange. Over the course of the 20^th century, the VvdE developed into the Netherlands’ exchange authority, earning the almost unquestioning trust of the political establishment in The Hague. As the driving force behind the Dutch exchange community, it also took the initiative towards the end of the 20^th century to establish the Amsterdam Options Exchange and the Stichting Toezicht Effectenverkeer (STE), the Securities Board of the Netherlands. The STE became the legal predecessor of the current Autoriteit Financiële Markten (AFM), the Netherlands Authority for the Financial Markets. When the exchange in Amsterdam became a commercial entity in 1997 with the establishment of Amsterdam Exchanges , the VvdE stepped back. This was a logical step, partly in view of the increase in scale, internationalisation and the cross-border merger in 2000 with the exchanges of Brussels and Paris to form Euronext.

At the beginning of this century, the VvdE came to an end. The Amsterdam Exchange still owes much to the former stock exchange association, not only because of the magnificent exchange building it left behind. It is important to remember that in 1876 the VvdE laid the foundations for the modern exchange organisation that exists in the Netherlands today. Unfortunately, there is also a downside to the private origins of the Amsterdam Exchange. Unlike in other Euronext countries, the Dutch government still keeps the exchange at arm’s length to a relatively large extent. On the other hand, the VvdE's traditionally strong international focus is something from which the Amsterdam Exchange continues to benefit, as reflected in its many international listings.