Bourse at Bruges
Huis ter Beurze
TypeCommodity exchange
LocationBruges, Belgium
Coordinates51°12′40.13″N 3°13′26.87″E / 51.2111472°N 3.2241306°E / 51.2111472; 3.2241306
Founded1285

The bourse at Bruges (Latin: bursa Brugensis,[1] Dutch: Huis ter Beurze) is the first bourse in the world, established in Bruges (in today's Belgium) the 13th-century. [2]

History

Inception

The exchange was owned by Van der Beurze family. Traders and foreign merchants from across Europe, especially the Italian Republics of Genoa, Florence and Venice, conducted business at this venue in the late medieval period.[3] The building, which was established by Robert van der Beurze as a hostelry, had operated from 1285.[4]

Decline

In the 16th century, Antwerp took over the role of trade center from Bruges. The Bourse of Antwerp was first opened in 1531 as the world's first purpose-built commodity exchange.[5]

Changes to the building

1845 appearance

During the 18th century, the façade of the Huis ter Beurze was rebuilt with a wide frontage of pilasters. However, in 1947 it was restored to its original medieval appearance.

Etymology, family coat of arms

The exchange managers became famous for offering judicious financial advice to the traders and merchants who frequented the building. This service became known as the "Beurze Purse" which is the basis of bourse, meaning an organized place of exchange. Eventually, the building became solely a place for trading in commodities.

The coat of arms of the van der Beurze family depicts three purses (Flemish: buerzen, Greek: birsa, Latin: bursa) and thereby gave both the family its name and gave rise to the word 'bourse'[6][note 1]

See also

Wikimedia Commons has media related to Huis ter Beurze.

Notes

  1. ↑ The term bourse is derived from (Ancient Greek: βύρσα, romanized: bursa, lit. '"the skin stripped off a hide"') which was later used as bursa in Medieval Latin to refer to the "purse".

References

  1. ↑ "The historical Beursplein in Brugge, Belgium". 1641.
  2. ↑ "The Original Bourse at Bruges". 7 September 2020.
  3. ↑ Bourse. Online Etymology Dictionary
  4. ↑ "The stock market: from the 'Ter Beurse' inn to Wall Street". nbbmuseum.be. Archived from the original on 2019-08-12. Retrieved 2023-06-05.
  5. ↑ Lockard, Craig (2021). Societies, Networks, and Transitions. Boston: Cengage. p. 367. ISBN 9780357365304.
  6. ↑ "Word of the Day / Bursa: You Can Invest in This Word". Haaretz.
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