The main goal of this book is to highlight the important role played by the Prague Stock Exchange in the whole process of transition with all its difficulties, positive and negative effects. In writing this monograph, the author has done his best to base it on objectively existing documents and without surpassing the boundary of objectivity necessary for scientific research. In the monograph, the author exploited open sources, and selected unpublished sources from his private archive as well. The period of 1993–1997 was a decisive time for creation of the Czech financial sector with its markets and infrastructure. Within this period, the Prague Stock Exchange started securities trading. This period is important because of two main reasons: firstly, a successful elimination of all barriers that prevented the establishment of the PSE; secondly, it has been recognized very soon that the emerging Czech capital market will have to be – as soon as possible – reformed and regulated according to international standards.