Paris brokers give up their quill pens. (deregulation and the presence of foreign brokers force French brokerage firms to modernize)

PARIS BROKERS GIVE UP THEIR QUILL PENS

PARIS BROKERS GIVE UP THEIR QUILL PENS

Like the furniture in his office, Bernard de Compiegne, broker on the Paris Bourse, has a look of stately immobility. French brokers have had the monopoly on securities trading since 1807, a monopoly sustained by law. The office of agent de change is conferred by the government and can be passed down through the family or sold.

De Compiegne inherited. A brass plate on his door declares: “Agent de change: successor to his father and his grandfather.”

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