Stock Exchanges
Exchanges are the regulated marketplaces (NYSE, NASDAQ) where buyers and sellers meet and prices are discovered.
What You're BuyingBeginner 4 min read· Lesson 2 of 13 in Investing Fundamentals
What an exchange does
An exchange matches buy and sell orders, publishes prices, and enforces listing standards (financial reporting, minimum size). The price you see is simply the last matched trade — a continuously updated auction result, not a value assigned by anyone.
NYSE vs NASDAQ vs OTC
NYSE and NASDAQ are the major US venues with strict listing requirements. Stocks that don't meet them trade over-the-counter (OTC) — thinner disclosure, thinner liquidity, and where most outright frauds live. This platform's universe scans filter by exchange for exactly this reason.
On this platform
Every scan's 'Universe' field takes exchange codes (NYSE, NASDAQ, AMEX, ETF) — restricting a scan to major exchanges is the first, cheapest quality filter you have.