Share: Each day, Benzinga takes a look back at a notable market-related moment that happened on this date. What Happened: On May 17, 1792, the signing of the Buttonwood Agreement laid the groundwork for the New York Stock Exchange. Where Was The Market: The Dow and S&P 500 weren’t introduced for another 104 and 131 years, respectively. What Else Was Going On In The World: The U.S. had recently created the postal service and passed the Presidential Succession Act. Across the Atlantic, the French Revolution raged. Buttonwood Agreement Bears NYSE: Under the shade of a Wall Street buttonwood, 24 stockbrokers and merchants signed an agreement establishing a centralized securities exchange, obviating the roles of auctioneers and setting a commission rate.