Local 03
A Visit to the Stock Exchange
(1959-60)

On 17th November, 1950, a party of Sixth-formers accompanied by two members of staff paid a visit to the Stock Exchange in London. Having first been shown a film of the history of the institution, we were directed to the Visitors' Gallery, where we were able to see the Stock Exchange at work.

To the average person the view we first had would have been mystifying, but the antics of the "men on the floor" were quickly explained to us, and our understanding of the mechanism made it all the more interesting.

The Stock Exchange consists of a large hall where certain types of stocks and shares are bought and sold by stockbrokers who are members of the 3,600 strong Stock Exchange, and deal on behalf of the general public, since it is only the brokers who are allowed to negotiate on the floor. They buy their stocks and shares from jobbers who usually specialise in a certain type of stock and have a board on which the current market prices are listed.

This may all seem rather puerile, but, in fact, the importance of the Stock Exchange is immense! Indeed, it is the hub of the capital market, which has, through the ages, channelled funds in such a way as to make this country prosperous.

The visit was rather too short for many of us, but we came away satisfied, having seen one of the important institutions of the country.

C. J. WORLEY, M.VI.