Final answer:
A securities exchange is a physical location where stocks are traded, with the NYSE being one of the most well-known. The NASDAQ is an electronic stock market without a trading floor, and there are regional and global markets as well.
Step-by-step explanation:
A securities exchange is the physical place where stocks, which are shares in a company, are bought and sold. For instance, the New York Stock Exchange (NYSE), located on Wall Street in New York City, is one of the oldest, largest, and most renowned stock exchanges in the United States. Companies that wish to raise revenue by trading their stocks must pay a fee to trade, and trading traditionally takes place on the floor of the exchange, although modern exchanges like the NASDAQ operate electronically.
The NASDAQ, founded in 1971, is an electronic stock market that allows trading from multiple physical locations without a centralized trading floor, hosting approximately 3,600 companies. Furthermore, there are regional stock markets in cities like Chicago, Philadelphia, Boston, and Memphis, often hosting smaller or newer companies not listed on larger exchanges. Global markets also exist worldwide, enabling continuous trading facilitated by technological advancements.