Exchange
A plain-English definition of stock exchanges and why they matter for market structure.
Plain-English definition
An exchange is a venue where securities are listed and traded, such as the NYSE or Nasdaq.
Why it matters
Exchange structure influences liquidity, market sessions, and how price discovery works.
Beginner example
A company may list on Nasdaq, but its shares can still trade through multiple venues and market-making systems.
Common misunderstanding
An exchange is not the same thing as the whole market. It is one part of the market's infrastructure.
Practice with Alpha Council
What is the difference between NYSE and Nasdaq?
Not Financial Advice
This learn page is for education and research workflow guidance only. It explains concepts, metrics, and analysis steps used inside Alpha Council. It does not provide personalized investment advice, guaranteed outcomes, or automated trading instructions.