Historical Events



1999 January - Exchange rates of the EMU countries were locked


1998 - Collapse of Long Term Capital Management
This was a hedge fund based the US


1995 February - Barings, London's oldest merchant bank collapses as a result of losses in the derivativesmarket.
Nick Leason - Barings
betting on the Tokyo stockmarket, Nikkei index
buying future contracts hoping The market would rise
instead partly prompted by The Kobe earthquake it fell suddenly
- losses ranged from £800m upwards


1992 - US government was desperately trying to kick start the economy, short term rate - 3%, long term rate - 7%


1990 January - Tokyo stock market (Nikkei) collapsed and property value fell


1987 October - Black Monday Stockmarket Crash, market lost 11%


1986 October - Big Bang deregulation. Banks and other financial institutions were allowed to undertake stock market trading.
Introduced a more competitive trading system
Banks were no longer prevented from undertaking stock market business
Increasing the range of investments that could be traded
Opening up domestic markets and stock exchanges to foreign members
Introducing round the clock trading
fixed brokers commission S were abolished
The market was no longer forced to route orders through brokers
single capacity was abandoned
outside ownership of stock exchange members was allowed
foreign companies could be stock exchange members


1984 - 1985 - International Debt Crisis



1982 - 1987 - share prices and house prices trebled
1974 January - Oil reached $10.5 per barral


1973 October - Oil reached $3 per barral


1929 - Wall Street Crash




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