Stock Exchange

Stock Exchange
Specialists	2 Merchant
Production Cost	360
Unlocked at	Electricity

The Stock Exchange is a building available in the Industrial Era.

Game Info

Building a Stock Exchange requires a Bank or any of its replacements.

• +3 Gold
• +33% Gold
• Has 2 slots for Merchant Specialists

With Social Policies / Tenets:

• Mercantilism (Commerce): +1 Science
• Capitalism (Freedom): +1 Happiness

Overview

A stock exchange is an organization which allows people to buy and sell "stocks" - shares of ownership of businesses. In some cases, the stocks include voting rights, giving the owners some say in the management of the business. Some stocks also provide "dividends" in which a portion of the company's profits are annually paid to the stockholders. The primary (or at least the original) purpose of stock exchanges is to allow the owners of companies to raise money by selling a portion of their company to investors. As the value of the company rises, so does the value of the stock. And of course there's risk involved as well - if the value of the stock falls, so does the value of the investment. A modern stock exchange may also sell other powerful financial "instruments" such as bonds, securities, options, swaps and derivatives. When properly run, a stock exchange can turbo-charge an economy. When poorly managed, it can cause financial chaos and ruin.

Unique Building Replacements

Icon	Building	Civilization	Yields
	Cine Esplanada	Angola (Agostinho Neto)	+1 Culture for each citizen (max 30 citizens) +2 Food Only +1 Gold Only +25% Gold +40 Production cost
	Coffee Auctioneer	Tanzania (Mwinyi)	+1 Gold and +1 Tourism from Plantations and edible resources +1 Culture from Jungle tiles
	Companhia	Mozambique (Joaquim Chissano)	+3 and +33% gold +1 Gold for each improved Luxury in the City. Upon construction, regains part of all the Gold gained from automatically improving Luxuries in this City.
	Export Depot	America (Harry S. Truman)	+1 Gold instead of +3. Unlocked earlier at Industrialization. Provides +1 Food and +1 Gold on worked sources of Wheat, Fish, and Cattle in this city. Outgoing International Trade Routes provide Food and increased Unit Production speed to their destination city, and provide America with a small lump sum of Gold when that city acquires a new military unit.
	Keiretsu	Japan (Tanaka Kakuei)	Has a chance to convert opposing non-enemy military units which end their turn within the city's borders. The chance of conversion depends on the size of the Japanese treasury.
	Maidan	Ukraine (Tymoshenko)	Contains a slot for a Great Work of Art or Artifact, which provides an additional Trade Route slot and extends the length of Land Trade Routes when filled.
	U-Vistract	Bougainville (Francis Ona)	Recieve a free U-Vistract upon improving Copper, once per era. While a Great Merchant is in the territory of City-States or another civilization, Production from worked mines and Tourism is converted into border culture and WLKTD length is doubled.