Although International Women’s Day took place earlier this month, Euronext continues to celebrate the advancement of women in finance throughout the year.
This month, we highlight the story of Ine Pennings, a former trading assistant at Schretlen & Co. (now Rabobank), who in 1975 became one of the first women to set foot on the floor of the Amsterdam Stock Exchange, together with Carla Tijhof and Els Wouters. Ine Pennings’s journey marked a turning point in the history of finance and opened doors for future generations of women in the industry.
A historic step forward
For centuries, the Amsterdam Stock Exchange was a space dominated by men. While Henriëtte Wilhelmina Deterding was admitted as the first female exchange member in 1923, she was never allowed on the trading floor itself. Her membership remained largely symbolic, and the exchange continued to be a male stronghold for decades. True change did not come until 1975 when Ine Pennings, along with Carla Tijhof and Els Wouters, finally broke that barrier.
Their admission was not just a formality, but a true achievement. The financial world had long resisted female participation, and the workplace culture was steeped in tradition. “It was overwhelming,” Ine Pennings recalls. “We knew that many men didn’t appreciate our presence. As we walked in, they sang ‘Oh, how beautiful she is.’ I found it condescending. But I thought: fine by me. I’m here to work.” Within moments of arriving, she took her first order, proving that her presence was not just symbolic but essential.
Overcoming resistance
The financial industry at the time was not designed for women, and Ine Pennings quickly realised that her arrival was met with scepticism. “The older generation, in particular, was not at all happy. My sister was there and said, ‘I can still see the men turning their backs on you.’” Even practical matters, such as dress codes, were an obstacle. “Women weren’t expected to wear trousers, so I always dressed smartly, but in women’s clothes, because we already received enough comments from those men.”
Beyond attire, there were much deeper challenges in workplace dynamics. Trading was a fast-paced, high-pressure environment, where split-second decisions determined financial outcomes. Women had to prove they could handle the intensity. Ine Pennings was among the first authorised female clerks, relaying client orders to the hoekmannen, or the brokers who executed transactions. The work required meticulous attention to detail, resilience, and quick thinking. She thrived in this space, proving that competence, rather than gender, was what truly mattered.
Despite these challenges, Ine Pennings persevered. Her motivation was clear: she had spent years building her expertise in securities but even with this knowledge she was initially denied access to the exchange floor simply because she was a woman. “I always said, ‘If women are ever allowed on the stock exchange, then I will be one of them.’”
A legacy of determination
At the time, societal expectations severely limited women’s careers. Early in her career, women were dismissed upon marriage, and later, if they became pregnant. “Even after those rules changed, people still found it odd if a woman continued working. They believed that if you kept working, your child would never turn out well.”
Despite this, Ine Pennings’ determination never wavered, and she saw her reward when she finally stepped onto the trading floor.
She continued to build her career steadily, advising clients through some of the most turbulent financial periods, including Black Monday in 1987. She remained passionate about the industry but later chose to step away from investing, preferring to focus on personal fulfilment over financial gains.
Her advice to future generations? “Always stay true to yourself. Follow your own path. But there is no point in wanting something that is simply not possible. So, know your own strengths, but also your limitations. Otherwise, you’ll waste so much energy on the impossible. Wait for the right opportunity – it will come. Recognise it and seize it.”
A lasting impact
Thanks to trailblazers like Ine Pennings, Carla Tijhof and Els Wouters, women today have more opportunities to succeed in finance, a field that once resisted their presence. Earlier this month, Euronext’s women in leadership shared their own insights, passing the torch to the next generation of leaders in the industry. The progress may have been slow, but it is long-lasting. The path forward is clearer than ever for women ready to make their mark in finance.
Watch the full interview with Ine Pennings below.