The New York Stock Exchange was founded on May 17, 1792, by a group of 24 brokers and dealers in stocks and bonds who met regularly under a tree in lower Manhattan to conduct business. The Buttonwood Agreement, named for the tree under which the group met, established the practice of charging fixed rate commissions and the adherence to rules of fair practice in mutual dealings. Out of these humble beginnings came the formation of the New York Stock Exchange, which 200 years later continues to play a principal role among the world's financial institutions. Today, more than 1,900 companies from around the world list their stocks on that exchange.