definition
strict definition
stock exchange
A site for open trading of company ownership shares, usually through a trading floor.
A stock exchange is a site, usually a trading floor, where shares in the ownership of companies are traded openly, either by invested parties or their proxies.
The traded product is a share in company ownership. Parties can act for themselves or through representatives, so the floor need not be occupied by the ultimate investors.
A commodities exchange focuses on raw materials and related derivatives. A derivatives exchange handles other financial instruments; their trading activities differ from trading company shares.