An exchange where security trading is conducted by professional stockbrokers; SYN. stock market, securities market.
Institution for the buying and selling of stock in publicly held corporations. An exchange trades in stocks that are already issued. Trading is done only by members who have purchased or inherited a “seat” on the exchange. They can act as brokers for nonmembers, on a commission basis, or as floor brokers, acting for other members. Registered traders have no contact with the public but trade only their private accounts. The world’s largest exchanges are in New York, London, and Tokyo, and stock prices are watched carefully as indicators of confidence in the economy. SYN. stock-exchange