To be able to trade a security on a certain stock exchange, it must be listed there. Usually, there is a central location at least for record keeping, but trade is increasingly less linked to such a physical place, as modern markets are electronic networks, which gives them advantages of increased speed and reduced cost of transactions. Trade on an exchange is by members only.
The initial offering of stocks and bonds to investors is by definition done in the primary market and subsequent trading is done in the secondary market. A stock exchange is often the most important component of a stock market. Supply and demand in stock markets is driven by various factors that, as in all free markets, affect the price of stocks.
There is usually no compulsion to issue stock via the stock exchange itself, nor must stock be subsequently traded on the exchange. Such trading is said to be off exchange or over-the-counter. This is the usual way that derivatives and bonds are traded. Increasingly, stock exchanges are part of a global market for securities.
wikipedia.org
| entity - экономическая единица stock broker - брокер на рынке ценных бумаг trader - торговец stock - акция bond - облигация security - ценная бумага issue - выпуск redemption - погашение dividend - дивиденд share - акция | unit trust - общий инвестиционный траст-фонд derivative - дериватив (производный финансовый инструмент) pooled investment products - объединенные инвестиционные продукты record keeping - ведение учета electronic network - электронная сеть transaction - сделка, операция primary market - первичный рынок secondary market - вторичный рынок stock market - фондовый рынок over-the-counter - внебиржевой |
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