The term "securities exchange" refers to a marketplace where stocks, bonds, and other financial instruments are bought and sold. Synonyms for this term include "stock exchange," "stock market," "exchange market," and "financial market." These terms are often used interchangeably, but they each carry slightly different connotations. For example, a "stock exchange" typically refers specifically to a marketplace for buying and selling shares of publicly traded companies, while a "financial market" can encompass a broader range of financial instruments, such as derivatives and commodities. Regardless of the term used, securities exchanges play a crucial role in the functioning of modern economies, allowing investors to allocate capital and businesses to raise funds.