[填空题]The Securities Exchange
When people buy stock, most do so through one of the securities exchanges or marketplaces for stocks and bonds. These marketplaces are commonly called "stock exchanges" and they provide a meeting place for both the buyer and seller. To understand why such securities or stock exchanges are important in the purchase and sale of stocks and bonds, consider what would happen if you, and everyone who wanted do buy (or sell) securities, had to find your own buyer (or seller). If the market is going down the only way to recover your investment is to hang on to the stock and wait for it to come back. More importantly, how would you find out who is interested in selling that stock to you (or buying it from you) In order to handle this marketing problem, securities exchanges sprung up. These exchanges are nothing more than locations where stocks are bought and sold. And since there is a common meeting place for there (or send their representatives). The result i