Börsenlexikon: Stock Exchange

A stock exchange is an organised market for fungible goods according to certain rules. Trading can take place in securities (e.g. shares, bonds, notes, convertible bonds, structured products), foreign exchange, certain commodities (e.g. base metals, precious metals and other commodities) or rights derived therefrom (options, warrants, futures). The exchange brings supply and demand together in a market-like manner - mediated by brokers - and balances them out by (officially) fixing prices (quotes). The determination of the prices of the traded objects is continuously based on supply and demand.