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Exchange - An association that participate in the business of buying and selling stocks
The marketplace in which shares, options and futures on stocks, bonds, commodities and indices are traded. Principal US stock exchanges are: New York Stock Exchange (N.Y.S.E.), American Stock Exchange (A.M.E.X.) and the National Association of Securities Dealers Automatic Quotation System (N.A.S.D.A.Q.).
An exchange is a market where securities, commodities, options, or futures are traded.