Stock exchange means individuals whether incorporated or not established for the purpose of regulating and controlling the business of buying and selling or dealing in securities.
Features -
1. Stock exchange is an association of persons or body of individual which may be registered or unregistered.
2. It delas with shares , debentures, bonds and search securities which is already issued by the companies.
3. Stock exchange is an organised market it requires recognition from the central government.
4. Stock exchange is a market where securities of corporate bodies, Government and semi government bodies are bought and sold.
5. Stock exchange does not buy or sell any securities on its own account. It provides the necessary facilities to its members and brokers who trade in securities.
6. It ensures fair trade practices.
7. Buying and selling transaction in securities at the stock exchange are governed by the rules and regulations of stock exchange or SEBI.