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Nairobi Securities Exchange
The Nairobi Securities Exchange (NSE) was constituted as ''Nairobi Stock Exchange'' in 1954 as a voluntary association of stockbrokers in the European community registered under the Societies Act.
==History==
In Kenya, dealing in shares and stocks started in the 1920s when the country was still a British colony.
A stock exchange was first floated in 1922 at the Exchange Bar in the Stanley Hotel in Nairobi. However, the market was not formal as there did not exist any rules and regulations to govern stock broking activities. Trading took place on a ‘gentleman's agreement.’ Standard commissions were charged with clients being obligated to honour their contractual commitments of making good delivery and settling relevant costs. At that time, stock broking was a sideline business conducted by accountants, auctioneers, estate agents and lawyers who met to exchange prices over a cup of coffee. Because these firms were engaged in other areas of specialisation, the need for association did not arise.〔(History of the Nairobi Securities Exchange )〕
In 1951, an estate agent named of Francis Drummond established the first professional stock broking firm. He also approached the finance minister of Kenya, Sir Ernest Vasey, and impressed upon him the idea of setting up a stock exchange in East Africa. The two approached London Stock Exchange officials in July 1953 and the London officials accepted to recognise the setting up of the Nairobi Stock Exchange as an overseas stock exchange.
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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