Russian securities on European stock exchanges on the eve of the First World War

This article examines the trade in Russian securities on Europe’s major stock exchanges. Sustained interest in Russian funds and corporate securities developed outside Russia several decades before the 20th century. These securities attracted both European financial circles and ordinary investors who could afford to commit funds to such instruments. By the early 20th century, Russian securities were routinely listed on the Paris, London, Berlin, and New York exchanges. They could be freely traded alongside domestic instruments. Moreover, Russian public interest in the performance of these securities abroad grew year by year, prompting the domestic press to cover the price movements of Russian securities on foreign exchanges. The Russian press not only documented the entry of these securities into global financial markets but also tracked their price movements.