Stock exchanges have certainly come a long way since the traders in Philadelphia first started meeting under a tree on Wall Street in 1790. However, by 1817 New York was the hub of the market action and the name New York Stock Exchange was adopted. In 1842, their rival, the New York Curb Exchange, started meeting on the street until it finally moved inside in 1921. In 1953 they became the American Stock Exchange, culminating in being acquired by NYSE Euronext (the parent of the NYSE) and in 2008 they became the New York Stock Exchange Amex.

Naturally, there have been vast improvements in the stock market exchanges since that time. For example, international exchanges are common today, but originally it was a fairly limited area until it spread further and more and more foreign exchanges began to occur, opening up new possibilities for everyone involved in the market.

Naturally, there have been many changes, additions, new rules and opportunities for anyone interested in the stock exchange. Today, many transactions no longer have to be done at the brick and mortar stock exchanges, as they can be completed in local offices and online. Along with all of these changes, as you may expect, the Internal Revenue Service came up with new rules and regulations as well, including the 1031 real estate exchange that allows property tax deferment under certain guidelines.

Most of the experts and traders agree that the section 1031 exchange can be very beneficial to investors, especially those who have some type of non-income producing property. A property may be exchanged for a different property that will not only produce a cash flow, but can also be used for income tax deductions, including depreciation, which you would not have had with your original property.

Thanks to technology more and more trading is being done electronically; however, some transactions such as the IRS 1031 exchange still need to be physically seen and notarized. Because of this online trading, stock exchanges such as the NYSE are referred to as traditional markets, as a way to distinguish them from the others where a broker can conduct business from his office anywhere in the world.