A stock exchange is where different financial instruments are traded, including equities, commodities, and bonds. Exchanges bring corporations and governments, together with investors. Exchanges help provide liquidity in the market, meaning there are enough buyers and sellers so that trades can be processed efficiently without delays.

Stocks first become available on an exchange after a company conducts its initial public offering (IPO). A company sells shares to an initial set of public shareholders in an IPO known as the primary market. After the IPO floats shares into the hands of public shareholders, these shares can be sold and purchased on an exchange or the secondary market. For more details, visit valiantmarkets.