1.
Stock exchange
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A stock exchange or bourse is an exchange where stock brokers and traders can buy and/or sell stocks, bonds, and other securities. Stock exchanges may also provide facilities for issue and redemption of securities and other financial instruments, Securities traded on a stock exchange include stock issued by listed companies, unit trusts, derivatives, pooled investment products and bonds. Stock exchanges often function as continuous auction markets, with buyers and sellers consummating transactions at a central location, to be able to trade a security on a certain stock exchange, it must be listed there. Trade on an exchange is restricted to brokers who are members of the exchange, the initial public offering of stocks and bonds to investors is by definition done in the primary market and subsequent trading is done in the secondary market. A stock exchange is often the most important component of a stock market, supply and demand in stock markets are driven by various factors that, as in all free markets, affect the price of stocks. There is usually no obligation for stock to be issued via the exchange itself. Such trading may be off exchange or over-the-counter and this is the usual way that derivatives and bonds are traded. Increasingly, stock exchanges are part of a securities market. The idea of debt dates back to the ancient world, as evidenced for example by ancient Mesopotamian clay tablets recording interest-bearing loans, there is little consensus among scholars as to when corporate stock was first traded. Some see the key event as the Dutch East India Companys founding in 1602, economist Ulrike Malmendier of the University of California at Berkeley argues that a share market existed as far back as ancient Rome. One such service was the feeding of geese on the Capitoline Hill as a reward to the birds after their honking warned of a Gallic invasion in 390 B. C. Participants in such organizations had partes or shares, a concept mentioned various times by the statesman, in one speech, Cicero mentions shares that had a very high price at the time. Such evidence, in Malmendiers view, suggests the instruments were tradable, the societas declined into obscurity in the time of the emperors, as most of their services were taken over by direct agents of the state. Tradable bonds as a used type of security were a more recent innovation, spearheaded by the Italian city-states of the late medieval. While the Italian city-states produced the first transferable government bonds, they did not develop the other ingredient necessary to produce a fully fledged capital market, the Dutch East India Company became the first company to offer shares of stock. Control of the company was held tightly by its directors, with shareholders not having much influence on management or even access to the companys accounting statements. However, shareholders were rewarded well for their investment, the company paid an average dividend of over 16 percent per year from 1602 to 1650. Financial innovation in Amsterdam took many forms, by the 1620s, the company was expanding its securities issuance with the first use of corporate bonds
2.
Italy
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Italy, officially the Italian Republic, is a unitary parliamentary republic in Europe. Located in the heart of the Mediterranean Sea, Italy shares open land borders with France, Switzerland, Austria, Slovenia, San Marino, Italy covers an area of 301,338 km2 and has a largely temperate seasonal climate and Mediterranean climate. Due to its shape, it is referred to in Italy as lo Stivale. With 61 million inhabitants, it is the fourth most populous EU member state, the Italic tribe known as the Latins formed the Roman Kingdom, which eventually became a republic that conquered and assimilated other nearby civilisations. The legacy of the Roman Empire is widespread and can be observed in the distribution of civilian law, republican governments, Christianity. The Renaissance began in Italy and spread to the rest of Europe, bringing a renewed interest in humanism, science, exploration, Italian culture flourished at this time, producing famous scholars, artists and polymaths such as Leonardo da Vinci, Galileo, Michelangelo and Machiavelli. The weakened sovereigns soon fell victim to conquest by European powers such as France, Spain and Austria. Despite being one of the victors in World War I, Italy entered a period of economic crisis and social turmoil. The subsequent participation in World War II on the Axis side ended in defeat, economic destruction. Today, Italy has the third largest economy in the Eurozone and it has a very high level of human development and is ranked sixth in the world for life expectancy. The country plays a prominent role in regional and global economic, military, cultural and diplomatic affairs, as a reflection of its cultural wealth, Italy is home to 51 World Heritage Sites, the most in the world, and is the fifth most visited country. The assumptions on the etymology of the name Italia are very numerous, according to one of the more common explanations, the term Italia, from Latin, Italia, was borrowed through Greek from the Oscan Víteliú, meaning land of young cattle. The bull was a symbol of the southern Italic tribes and was often depicted goring the Roman wolf as a defiant symbol of free Italy during the Social War. Greek historian Dionysius of Halicarnassus states this account together with the legend that Italy was named after Italus, mentioned also by Aristotle and Thucydides. The name Italia originally applied only to a part of what is now Southern Italy – according to Antiochus of Syracuse, but by his time Oenotria and Italy had become synonymous, and the name also applied to most of Lucania as well. The Greeks gradually came to apply the name Italia to a larger region, excavations throughout Italy revealed a Neanderthal presence dating back to the Palaeolithic period, some 200,000 years ago, modern Humans arrived about 40,000 years ago. Other ancient Italian peoples of undetermined language families but of possible origins include the Rhaetian people and Cammuni. Also the Phoenicians established colonies on the coasts of Sardinia and Sicily, the Roman legacy has deeply influenced the Western civilisation, shaping most of the modern world
3.
United States dollar
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The United States dollar is the official currency of the United States and its insular territories per the United States Constitution. It is divided into 100 smaller cent units, the circulating paper money consists of Federal Reserve Notes that are denominated in United States dollars. The U. S. dollar was originally commodity money of silver as enacted by the Coinage Act of 1792 which determined the dollar to be 371 4/16 grain pure or 416 grain standard silver, the currency most used in international transactions, it is the worlds primary reserve currency. Several countries use it as their currency, and in many others it is the de facto currency. Besides the United States, it is used as the sole currency in two British Overseas Territories in the Caribbean, the British Virgin Islands and Turks and Caicos Islands. A few countries use the Federal Reserve Notes for paper money, while the country mints its own coins, or also accepts U. S. coins that can be used as payment in U. S. dollars. After Nixon shock of 1971, USD became fiat currency, Article I, Section 8 of the U. S. Constitution provides that the Congress has the power To coin money, laws implementing this power are currently codified at 31 U. S. C. Section 5112 prescribes the forms in which the United States dollars should be issued and these coins are both designated in Section 5112 as legal tender in payment of debts. The Sacagawea dollar is one example of the copper alloy dollar, the pure silver dollar is known as the American Silver Eagle. Section 5112 also provides for the minting and issuance of other coins and these other coins are more fully described in Coins of the United States dollar. The Constitution provides that a regular Statement and Account of the Receipts and that provision of the Constitution is made specific by Section 331 of Title 31 of the United States Code. The sums of money reported in the Statements are currently being expressed in U. S. dollars, the U. S. dollar may therefore be described as the unit of account of the United States. The word dollar is one of the words in the first paragraph of Section 9 of Article I of the Constitution, there, dollars is a reference to the Spanish milled dollar, a coin that had a monetary value of 8 Spanish units of currency, or reales. In 1792 the U. S. Congress passed a Coinage Act, Section 20 of the act provided, That the money of account of the United States shall be expressed in dollars, or units. And that all accounts in the offices and all proceedings in the courts of the United States shall be kept and had in conformity to this regulation. In other words, this act designated the United States dollar as the unit of currency of the United States, unlike the Spanish milled dollar the U. S. dollar is based upon a decimal system of values. Both one-dollar coins and notes are produced today, although the form is significantly more common
4.
Kingdom of Italy (Napoleonic)
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The Kingdom of Italy was a French client state founded in Northern Italy by Napoleon I, fully influenced by revolutionary France, that ended with his defeat and fall. Napoleon I was crowned at the Duomo di Milano, Milan on May 26 and his title was Emperor of the French and King of Italy, showing the importance of this Italian Kingdom for him. Even though the republican Constitution was never abolished, a series of Constitutional Statutes completely altered it. The second one, dating from March 29, and regulated the regency, the Great Officials of the kingdom, the Consulta, Legislative Council, and Speakers, were all merged in a Council of State, whose opinions became only optional and not binding for the king. The Legislative Body, the old parliament, remained in theory, but it never summoned after 1805, the fourth Statute, decided on February 16,1806, indicated Beauharnais as the heir to the throne. The seventh Statute, on September 21, created a new nobility of dukes, counts and barons, the eighth, in 1812, a Court of Accounts was added. The Duchy of Guastalla was annexed on May 24, with the Convention of Fontainebleau with Austria of October 10,1807, Italy ceded Monfalcone to Austria and gained Gradisca, putting the new border on the Isonzo River. The conquered Republic of Ragusa was annexed in spring 1808 by general Marmont and that was the only time in modern history that Ragusa was united to Italy. On April 2,1808, following the dissolution of the Papal States, at its maximum extent, the Kingdom had 6,700,000 inhabitants and was composed by 2,155 communes. Small changes to the borders between Italy and France in Garfagnana and Friuli came in act on August 5,1811, in practice, the Kingdom was a dependency of the French Empire. The Kingdom served as a theater in Napoleons operations against Austria during the wars of the various coalitions, trading with the United Kingdom was forbidden. The kingdom was given a new currency, replacing the local coins circulating in the country, the Italian lira, of the same size, weight. Mintage being decided by Napoleon with a decree on March 21,1806. The monetary unit was the silver lira, which was 5 grams heavy, there were multiples of £2 and £5, and precious coins of £20 and £40. The army of the kingdom, inserted into the Grande Armée, in the course of its existence from 1805 to 1814 the Kingdom of Italy provided Napoleon I with roughly around 200,000 soldiers. In 1805 Italian troops served on duty along the English Channel, during 1806-1807 they took part in the sieges of Kolberg and Danzig. From 1808 to 1813 whole Italian divisions served in Spain, especially distinguishing themselves under Suchet at Tarragona and Saguntum. In 1809, Eugènes Army of Italy formed the wing of Napoleon Is invasion of the Austrian Empire, winning a considerable victory at Raab
5.
Economy of Italy
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The economy of Italy is the 3rd-largest national economy in the eurozone, the 8th-largest by nominal GDP in the world, and the 12th-largest by GDP. The country is a member of the European Union, the Eurozone, the OECD, the G7. Italy is the eighth largest exporter in the world with $514 billion exported in 2016 and its closest trade ties are with the other countries of the European Union, with whom it conducts about 59% of its total trade. The largest trading partners, in order of market share, are Germany, France, United States, Switzerland, United Kingdom, and Spain. According to the Human Development Index, the country enjoys a high standard of living. Italy owns the worlds third-largest gold reserve, and is the third net contributor to the budget of the European Union, Italy is the largest market for luxury goods in Europe and the countrys private wealth is one of the largest in the world. Despite these important achievements, the economy today suffers from structural and non-structural problems. After strong GDP growth in 1945–1990, the last two decades average annual growth rates lagged below the EU average, moreover, Italy was hit hard by the late-2000s recession. The stagnation in economic growth, and the efforts to revive it with massive government spending from the 1980s onwards. After the unification, industrialization was largely artisanal, and located in the former political capitals, the resulting Italian diaspora concerned nearly 26 million Italians, the most part immigrated in the period 1880–1914, and it is considered the biggest mass migration of contemporary times. During the Great War, the Italian Royal Army increased in size and this came at a terrible cost, by the end of the war, Italy had lost 700,000 soldiers and had a budget deficit of billions of lira. Italy emerged from World War I in a poor and weakened condition, the National Fascist Party of Benito Mussolini came to power in 1922, at the end of a period of social unrest. However, once Mussolini acquired a firmer hold of power, laissez-faire and free trade were progressively abandoned in favour of government intervention, in 1929, Italy was hit hard by the Great Depression. A number of mixed entities were formed, whose purpose it was to bring representatives of the government. These representatives discussed economic policy and manipulated prices and wages so as to both the wishes of the government and the wishes of business. This economic model based on a partnership between government and business was extended to the political sphere, in what came to be known as corporatism. At the same time, the foreign policy of Mussolini led to an increasing military expenditure. After the invasion of Ethiopia, Italy intervened to support Francos nationalists in the Spanish Civil War, by 1939, Italy had the highest percentage of state-owned enterprises after the Soviet Union
6.
Stock trader
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A stock trader or equity trader or share trader is a person or company involved in trading equity securities. Stock traders may be an agent, hedger, arbitrageur, speculator, a stock investor is an individual or company who puts money to use by the purchase of equity securities, offering potential profitable returns, as interest, income, or appreciation in value. This buy-and-hold long term strategy is passive in nature, as opposed to speculation, many stock speculators will trade bonds as well. Stock speculators are often categorized as stock traders, if trading in that capacity. Individuals or firms trading equity on the markets as their principal capacity are often called stock traders. Stock speculators usually try to profit from price volatility with trades lasting anywhere from several seconds to several weeks. The stock speculator is usually a professional, persons can call themselves full or part-time stock traders/investors while maintaining other professions. When a stock speculator/investor has clients, and acts as a manager or adviser with the intention of adding value to their clients finances. In this case, the manager could be an independent professional or a large bank corporation employee. These organized investors, are referred to as institutional investors. Several different types of trading strategies or approaches exist including day trading, trend following, market making, scalping, momentum trading, trading the news. They rely primarily on fundamental analysis for their investment decisions and fully recognize stock shares as part-ownership in the company, however, during the 2001-2003 equity bear market, the buy-and-hold strategy lost some followers as broader market indexes like the NASDAQ saw their values decline by over 60%. Stock traders advise shareholders and help manage portfolios, traders engage in buying and selling bonds, stocks, futures and shares in hedge funds. A stock trader also conducts research and observation of how financial markets perform. Other duties of a stock trader include comparison of financial analysis to current, professional stock traders who work for a financial company, are required to complete an internship of up to four months before becoming established in their career field. In the United States, for example, internship is followed up by taking and passing a Financial Industry Regulatory Authority-administered Series 63 or 65 exam, Stock traders who pass demonstrate familiarity with U. S. Securities and Exchange Commission compliant practices and regulation. Stock traders with experience usually obtain a degree in a financial. Supervisory positions as a trader may usually require an MBA for advanced stock market analysis, the U. S. Bureau of Labor Statistics reported that growth for stock and commodities traders was forecast to be greater than 21% between 2006 and 2016
