Although some of these voyages predictably failed, the ones that were successful brought promise of wealth and an emerging new trade. Shortly after these expeditions began, in 1602, the many independent "Voorcompagnieën" merged to form the Dutch East India Trading Company. Shares were allocated appropriately by the Amsterdam Stock Exchange and the joint-stock merchants became the directors of the new VOC. Furthermore, this new mega-corporation was immediately recognized by the Dutch provinces to be equally important in governmental procedures. The VOC was granted significant war-time powers, the right to build forts, the right to maintain a standing army, and permission to conduct negotiations with Asian countries. The charter created a Dutch colonial province in Indonesia, with a monopoly on Euro-Asian trade.