Chapter STSM123010
| Published date | 07 March 2016 |
| Record Number | STSM123010 |
| Court | HM Revenue & Customs |
| Issuer | HM Revenue & Customs |
An exchange is a marketplace on which stocks and shares, and options and futures on stocks, bonds and commodities etc. are traded.
Types of exchanges- Most exchanges specialise in a particular type of security, for example:
- Equities and debt instruments
- Derivatives, e.g. options, futures, swaps
- Commodities, e.g. oil, precious metals, grains
- liquidity in the market, allowing the trading of securities
- ...
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