A stock exchange, securities exchange, or bourse is an exchange where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds and other financial instruments. Stock exchanges may also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividends. Securities traded on a stock exchange include stock issued by listed companies, unit trusts, derivatives, pooled investment products and bonds. Stock exchanges often function as "continuous auction" markets with buyers and sellers consummating transactions via open outcry at a central location such as the floor of the exchange or by using an electronic trading platform.
A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction. In some countries and languages people commonly use the term "security" to refer to any form of financial instrument, even though the underlying legal and regulatory regime may not have such a broad definition. In some jurisdictions the term specifically excludes financial instruments other than equities and fixed income instruments. In some jurisdictions it includes some instruments that are close to equities and fixed income, e.g., equity warrants.
A stock market, equity market, or share market is the aggregation of buyers and sellers of stocks, which represent ownership claims on businesses; these may include securities listed on a public stock exchange as well as stock that is only traded privately, such as shares of private companies that are sold to investors through equity crowdfunding platforms. Investments are usually made with an investment strategy in mind.
A stockbroker is an individual or company that buys and sells stocks and other investments for a financial market participant in return for a commission, markup, or fee. In most countries they are regulated as a broker or broker-dealer and may need to hold a relevant license and may be a member of a stock exchange. They generally act as a financial advisor and investment manager. In this case they may also be licensed as a financial adviser such as a registered investment adviser.
BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange which is located on Dalal Street in Mumbai, India. Established in 1875 by cotton merchant Premchand Roychand, it is the oldest stock exchange in Asia, and also the tenth oldest in the world. The BSE is the world's 8th largest stock exchange with a market capitalization exceeding US$4.5 trillion as of January 2024.
The Securities Exchange Act of 1934 is a law governing the secondary trading of securities in the United States of America. A landmark of wide-ranging legislation, the Act of '34 and related statutes form the basis of regulation of the financial markets and their participants in the United States. The 1934 Act also established the Securities and Exchange Commission (SEC), the agency primarily responsible for enforcement of United States federal securities law.
The Colombo Stock Exchange (CSE) is the main stock exchange in Sri Lanka that utilizes an electronic trading platform. The CSE headquarters have been located at the World Trade Center (Colombo) Towers in Colombo since 1995, and it has regional branches in Kandy, Jaffna, Negombo, Matara, Kurunegala, Anuradhapura and Ratnapura. The CSE trades 296 companies representing 20 business sectors, as of 25 January 2021, with a combined market capitalization of 3,699 billion Sri Lankan rupees.
The Madras Stock Exchange (MSE) was a stock exchange in Chennai, India. The now defunct MSE was the fourth stock exchange to be established in the country and the first in South India. It had a turnover (2001) of ₹ 3,090 crore, but was a fraction of the turnover generated by the Bombay Stock Exchange and National Stock Exchange of India. The turnover of the stock exchange was 19,907 Crore as of the financial year 2012.
The Cyprus Stock Exchange or CSE, is a European stock exchange located in Cyprus.
The Nairobi Securities Exchange (NSE) was established in 1954 as the Nairobi Stock Exchange, based in Nairobi the capital of Kenya. It was a voluntary association of stockbrokers in the European community registered under the Societies Act in British Kenya. The exchange had 66 listed companies in February 2021.
The Eastern Caribbean Securities Exchange (ECSE) is the first regional securities market in the Western Hemisphere and a regional stock exchange, established by the Eastern Caribbean Central Bank (ECCB) to serve the eight member territories of Anguilla, Antigua and Barbuda, Dominica, Grenada, Montserrat, Saint Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines. Its headquarters are located in the city of Basseterre, on the island of St. Kitts.
The Ghana Stock Exchange (GSE) is the principal stock exchange of Ghana. The exchange was incorporated in July 1989 with trading commencing in 1990. It currently lists 42 equities and 2 corporate bonds. All types of securities can be listed. Criteria for listing include capital adequacy, profitability, spread of shares, years of existence and management efficiency. The GSE is located within the Cedi House in Accra.
The Nigerian Stock Exchange (NSE), now Nigerian Exchange Group, is a Nigerian stock exchange founded in 1961 in Lagos. As of November 2019, it has a total of 161 listed companies, with 8 domestic companies on the premium board, 144 companies on the mainboard, and 4 on the Alternative Securities Market (ASeM) board. In the Fixed Income market, the NSE has 84 FGN bonds, 21 state bonds, 27 corporate bonds, 1 supranational bond, and 53 memorandum listings.
The International Organization of Securities Commissions (IOSCO) is an association of organizations that regulate the world's securities and futures markets. Members are typically primary securities and/or futures regulators in a national jurisdiction or the main financial regulator from each country. Its mandate is to:
The Securities and Exchange Commission is the agency of the Government of the Philippines charged with the registration and supervision of corporations and securities, as well as capital market institutions and participants, in the Philippines. As such, the Commission champions investor protection in the Philippines, as part of its mandate.
The Kazakhstan Stock Exchange is a stock exchange located in Almaty, Kazakhstan. The exchange was founded in 1993.
In mergers and acquisitions, a mandatory offer, also called a mandatory bid in some jurisdictions, is an offer made by one company to purchase some or all outstanding shares of another company, as required by securities laws and regulations or stock exchange rules governing corporate takeovers. Most countries, with the notable exception of the United States, have provisions requiring mandatory offers.
A securities commission, securities regulator or capital market authority is a government department or agency responsible for financial regulation of securities products within a particular country. Its powers and responsibilities vary greatly from country to country, but generally cover the setting of rules as well as enforcing them for financial intermediaries and stock exchanges.
