Brussels Stock Exchange

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Euronext Brussels
Bourse Bxl 02.JPG
TypeStock exchange
LocationBrussels, Belgium
FoundedJuly 8, 1801; 219 years ago (1801-07-08)
OwnerEuronext
Key peopleVincent Van Dessel (CEO)
CurrencyEUR
No. of listings181[1]
IndicesBEL20
WebsiteOfficial website


The Brussels Stock Exchange (French: Bourse de Bruxelles, Dutch: Beurs van Brussel), abbreviated to BSE, was founded in Brussels, Belgium, by decree of Napoleon in 1801. In 2002, the BSE merged with the Amsterdam, Lisbon and Paris stock exchanges into Euronext N.V., renaming the BSE Euronext Brussels. The most well known stock market index on the BSE is the BEL20.

History[edit]

Inception and construction[edit]

Following the covering of the river Senne for health and aesthetic reasons in the 1860s and 1870s, a massive programme of beautification of Brussels' city centre was undertaken. Architect Léon-Pierre Suys, as part of his proposal to construct a series of grand boulevards in the place of the river, designed a stock exchange building to become the centre of the rapidly expanding business sector. It was to be located on the former butter market (French: Marché au Beurre, Dutch: Botermarkt), itself built over the remains of the 13th-century Récollets Franciscan convent,[2] on the newly created Boulevard Anspach/Anspachlaan (then called Boulevard Central/Centraallaan).

The Brussels Stock Exchange building in 1873, shortly after completion

The stock exchange building was erected from 1868 to 1873, when it was inaugurated with a large ball in the presence of King Leopold II, Queen Marie Henriette, and Prince Philippe, Count of Flanders.[3] At the same time, a large square, called the Place de la Bourse/Beursplein was created in front of the building.[2]

Renovations and fire[edit]

Over the years, the stock exchange building underwent many renovations. In the period from 1930 to 1950, it was decided to increase the usable area and the incidence of light. On that occasion, a third floor was added and the central side walls on Rue Henri Maus/Henri Mausstraat and Rue de la Bourse/Beursstraat were opened up. The load-bearing parts of the building were reinforced with reinforced concrete to support these renovations.

During the night from Thursday 29 to Friday 30 November 1990, a fire broke out in one of the stockbrokers' cabins on the ground floor of the building. The fire caused a lot of damage. As a result, the stock exchange risked losing its financial activities and its reason for existence. The building was neatly restored, however, automation and acquisitions were already bringing an end to old market practices. In July 1996, all market floor activities disappeared. That year, the cash market was fully digitalised and the daily meeting of stockbrokers and traders therefore became redundant.

Mergers, relocation and future usage[edit]

In 1999, a first merger took place with CIK and BELFOX (BELgian Futures and Options Exchange). On 22 September 2000, the BSE merged again with Paris Bourse, Lisbon Stock Exchange and the stock exchanges of Amsterdam, to form Euronext N.V., the first pan-European exchange for equities and derivatives, with common trading and clearing of all products, and was renamed Euronext Brussels. In 2015, this company moved away from the stock exchange building, which had become too large, after the lease was broken by the City of Brussels in 2012.[4][5] Since then, the premises have occasionally housed temporary exhibitions. The building is to reopen in 2023 as a museum of Belgian beer.[6][7]

The following timeline outlines the consolidation through mergers and acquisitions among bourses in the European Union, which has taken place since the 1990s in response to financial harmonisation and liberalisation. Current, independent (parent) exchange companies are shown in colour.

    United States Intercontinental Exchange, Inc.
  United States New York Stock Exchange, Inc. United States European Union NYSE Euronext, Inc.
    United Kingdom London Traded Options Market United Kingdom London International Financial Futures and Options Exchange European Union Euronext N.V.
      United Kingdom London International Financial Futures Exchange
    United Kingdom London Commercial Sale Rooms United Kingdom London Commodity Exchange  
Netherlands Amsterdam Exchanges N.V. (Amsterdam Bourse)     European Union Euronext N.V.
    Belgium Bourse de Valeurs Mobilières de Bruxelles S.A. (Brussels Bourse)
  France Société des Bourses Françaises S.A. (Paris Bourse)
    Portugal Bolsa de Valores de Lisboa e Porto (Lisbon Bourse)
          Republic of Ireland Irish Stock Exchange  
                Norway Oslo Stock Exchange Norway Oslo Børs Holding ASA Norway Oslo Børs VPS Holding ASA  
                                      Norway Verdipapirsentralen Norway Verdipapirsentralen ASA  
                                    Denmark VP Securities A/S  
                  Italy Borsa Italiana S.p.A. (Italian Bourse) United Kingdom London Stock Exchange Group plc  
    United Kingdom London Stock Exchange plc  
                                              Norway Statnett Marked AS   European Union Nord Pool Spot AS European Union Nord Pool AS  
                                              European Union Nord Pool ASA    
                                United States National Association of Securities Dealers, Inc. (NASD) United States NASDAQ United States NASDAQ OMX Group, Inc. United States Nasdaq, Inc.
                      Sweden Stockholm Stock Exchange Sweden OM AB European Union OM HEX AB European Union OMX AB
                          Finland Helsinki Stock Exchange Finland Helsinki Exchanges Group Plc
                                                Estonia Tallinn Stock Exchange  
                                              Latvia Riga Stock Exchange  
                                              Lithuania Vilnius Stock Exchange
  Denmark Copenhagen Stock Exchange  
                                          Iceland Iceland Stock Exchange  
                                                          Armenia Armenian Stock Exchange  
                                                Switzerland SIX Swiss Exchange AG
                      Spain Bolsas y Mercados Españoles, Sociedad Holding de Mercados y Sistemas Financieros, S.A. (Spanish Bourses)  
                          Hungary Budapest Stock Exchange     Hungary Budapest Stock Exchange
          Austria Wiener Börse AG (Vienna Stock Exchange) European Union Central and Eastern Europe Stock Exchange Group AG Austria Vienna Stock Exchange
                                                Czech Republic Burza cenných papírů Praha, a.s. (Prague Stock Exchange)  
                                            Slovenia Ljubljana Stock Exchange      
                                              Croatia Zagreb Stock Exchange
Germany Frankfurter Wertpapierbörse AG (Frankfurt Stock Exchange)   Germany Deutsche Börse AG (German Bourse)
                                  Luxembourg Centrale de Livraison de Valeurs Mobilières Luxembourg Cedel International  
                                                              Germany European Energy Exchange  
                                                        Germany Switzerland Eurex Exchange  
                                                        Germany Switzerland STOXX
1585
1602
1625
1698
1724
1769
1771
1792
1799
1801
1808
1818
1831
1863
1864
1912
1954
1970
1971
1978
1979
1980
1985
1989
1991
1993
1995
1996
1998
2000
2001
2002
2003
2004
2005
2006
2007
2008
2010
2011
2012
2013
2014
2015
2016
2018
2019
2020
2021

Building[edit]

Rear view of the building

The stock exchange building does not have a distinct name, though it is usually called the Palais de la Bourse in French or Beurspaleis in Dutch (or simply Bourse/Beurs). It is located on Boulevard Anspach/Anspachlaan, and is the namesake of the Place de la Bourse/Beursplein, which is, after the Grand Place, the second most important square in Brussels.

The eclectic building mixes borrowings from the neo-Renaissance and Second Empire architectural styles. It has an abundance of ornaments and sculptures, created by famous artists, including the brothers Jacques and Jean-Joseph Jacquet, the French sculptor Albert-Ernest Carrier-Belleuse and his then-assistant Auguste Rodin. Some of the best examples are the group of four allegorical figures on the facade by Guillaume de Groot, symbolising Art, Agriculture, Industry and Science, as well as the friezes by Carrier-Belleuse, in which Rodin may have contributed.[2]

The interior pediment includes caryatids by Antoine Joseph Van Rasbourgh, symbolising Protection, Trade, Art and Victory. The two monumental lion sculptures by Jacquet on each side of the main entrance's staircase (one with its head facing up, the other curved back) represent the two stock market trends (akin to the famous "bull and bear" metaphor), as well as the Belgian Nation.[2]

Interior view with caryatids by Antoine Joseph Van Rasbourgh

See also[edit]

References[edit]

  1. ^ "Koersen, Bourse de Bruxelles". Euronext. 4 January 2016. Retrieved 4 January 2016.
  2. ^ a b c d Centre d'information, de Documentation et d'Etude du Patrimoine, Bruxelles, ville d'Art et d'Histoire: Les Boulevards du Centre (1997), p. 28.
  3. ^ Demey 1990.
  4. ^ "Beurs verhuisd: 'Buurt niet meer geschikt voor business'". www.bruzz.be (in Dutch). Retrieved 24 May 2020.
  5. ^ "Euronext Brussel verhuist naar Markiesgebouw". De Tijd (in Dutch). 23 February 2016. Retrieved 24 May 2020.
  6. ^ Maïthé Chini (19 February 2020). "Brussels Bourse building to be transformed into Beer Museum". The Brussels Times.
  7. ^ https://theculturetrip.com/europe/belgium/articles/the-history-of-la-bourse-in-1-minute/

Bibliography[edit]

  • Demey, Thierry (1990). Bruxelles, chronique d'une capitale en chantier (in French). I: Du voûtement de la Senne à la jonction Nord-Midi. Brussels: Paul Legrain/CFC. OCLC 44643865.CS1 maint: ref=harv (link)

External links[edit]

Coordinates: 50°50′53″N 4°21′01″E / 50.84806°N 4.35028°E / 50.84806; 4.35028