Answer:
According to Pyle, "Stock exchanges are market places where securities that have been listed there on, may be bought and sold for either investment or speculation." Following are the two features of stock exchange: (i) Organised Market Stock exchange is an organised market. Every stock exchange has a management committee which has all the rights related to management and control of exchange. All the transactions taking place in the stock exchange are done as per the prescribed procedure under the guidance of management committee. (ii) Dealing in Securities Issued by Various Concerns Only those securities are traded in the stock exchange which are listed there. After fulfilling certain terms and conditions, a company can get its securities listed on stock exchange.
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