2 1 exchanges and floor markets the securities and exchange act of 1934 defined an exchange to be any organization association or group of persons whether incorporated or unincorporated which ...
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...Exchanges and floor markets the securities exchange act of defined an to be any organization association or group persons whether incorporated unincorporated which constitutes maintains provides a market place facilities for bringing together purchasers sellers otherwise performing with respect functions commonly performed by stock as that term is generally understood includes maintained such physical virtual meeting drawing brokers dealers traders facilitate buying selling include based well many sites screen systems provided electronic communications networks ecns are intended provide orderly liquid continuous they trade transactions can executed at time price might expected differ little from prior transaction same security in addition traditionally serve self regulatory organizations sros their members regulating policing behavior variety rules requirements way it was precursors modern have existed egypt early th century where believed jewish islamic traded credit related instrumen...