Secondary markets in the context of "Financial markets"

The United East India Company (Dutch: Vereenigde Oostindische Compagnie [vərˈeːnɪɣdə oːstˈɪndisə kɔmpɑˈɲi]; abbr. VOC [veː(j)oːˈseː]), commonly known as the Dutch East India Company, was a chartered trading company and one of the first joint-stock companies in the world. Established on 20 March 1602 by the States General of the Netherlands amalgamating existing companies, it was granted a 21-year monopoly to carry out trade activities in Asia. Shares in the company could be purchased by any citizen of the Dutch Republic and bought and sold in open-air secondary markets, one of which became the Amsterdam Stock Exchange. The company possessed quasi-governmental powers, including the ability to wage war, imprison and execute convicts, negotiate treaties, strike its own coins, and establish colonies. Because it traded across multiple colonies and countries from both the East and the West, the VOC is sometimes considered to have been the world's first multinational corporation.

Statistically, the VOC eclipsed all of its rivals in the Asian trade. Between 1602 and 1796, the VOC sent nearly a million Europeans to work in the Asia trade on 4,785 ships, and netted for their efforts more than 2.5 million tons of Asian trade goods and slaves. By contrast, the rest of Europe combined sent 882,412 people from 1500 to 1795. The fleet of the English, later British East India Company, the VOC's nearest competitor, was a distant second to its total traffic, with 2,690 ships and one-fifth the tonnage of goods carried by the VOC. The VOC enjoyed huge profits from its spice monopoly and slave trading activities through most of the 17th century.