Definition: The word "stock exchange" in its broader context refers to a market place where securities such as stocks, bonds, shares and commodities are traded between different parties with the aim of earning profit or receiving payments for their ownership. The stock exchange's main function is to provide liquidity by taking over the existing trading of securities. This means that when someone buys or sells securities, they need to sell them through the market place in order to receive a payment. The market place itself acts as an intermediary between buyers and sellers of securities, facilitating transactions and providing transparency and reliability. Stock exchange companies are also responsible for regulating the trading of securities so that they can be sold fairly and accurately at reasonable prices, as well as for ensuring that there is no manipulation or fraud in the trading process. Stock exchanges also provide a platform for investors to invest their money into stocks, bonds, and other financial instruments, allowing them to earn income from their investment. In summary, stock exchange refers to a market place where securities are traded between different parties with the aim of earning profit or receiving payments for their ownership. It is an intermediary between buyers and sellers of securities and ensures transparency and reliability through regulation and transparency.