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Exchange
Market Structure
Что это значит
A marketplace where buyers and sellers meet to trade assets under shared rules. The NYSE and Nasdaq are stock exchanges; CME is a futures exchange.
Пример
When you buy 100 shares of AAPL, your broker routes the order to an exchange like Nasdaq, which matches your buy with a seller's sell and reports the trade back to both of you.
Ошибка новичков
Beginners think their broker is the exchange. Most retail brokers route orders to exchanges or market makers; the broker is the middleman, not the marketplace.
Связанные термины
- Broker — The company that holds your account, takes your orders, and routes them to exchanges. You …
- Market Maker — A firm that quotes both buy and sell prices and stands ready to trade on either side, earn…
- Order Book — A live list of all pending buy and sell orders at different prices. It shows the depth of …