STOCK MARKET AND STOCK EXCHANGES

a) Stock Markets,
b) Stock exchanges.

a) Stock Markets: Stock Market is a market where the trading of company
stock, both listed securities and unlisted takes place. It is different from stock
exchange because it includes all the national stock exchanges of the country.
For example, we use the term, "the stock market was up today" or "the stock
market bubble."

b) Stock Exchanges: Stock Exchanges are an organized marketplace, either
corporation or mutual organization, where members of the organization gather
to trade company stocks or other securities. The members may act either as
agents for their customers, or as principals for their own accounts.
Stock exchanges also facilitates for the issue and redemption of securities and
other financial instruments including the payment of income and dividends.
The record keeping is central but trade is linked to such physical place
because modern markets are computerized. The trade on an exchange is only
by members and stock broker do have a seat on the exchange.