 The stockbroker is a regulated professional individual, usually associated with a brokerage firm or broker dealer, who buys and sells stocks and other securities for both retail and institutional clients through a stock exchange or over the counter in return for a fee or commission. Stockbrokers aren't known by numerous professional designations, depending on the license they hold, the type of securities they sell, or the services they provide. In the United States, the stockbroker must pass both the Series 7 and either the Series 63 or the Series 66 exams in order to be properly licensed. The first stockbroking began in Rome, where the first recorded buying and selling of shares occurred in the 2nd century BCE. After Rome fell, stockbroking did not become a realistic career until after the Renaissance, when government bonds traded in Italian city-states such as Genoa or Vernaz. New stock exchanges opened their doors in the 16th and 17th centuries, including the London Stock Exchange, which was opened at a coffee shop in 1698. In the 1800s, in the United States, the New York Stock Exchange opened its doors under a button would treat in New York City. 24 stockbrokers signed the button would agreement, agreeing to trade five securities under that button would treat.