[单项选择]
Function and Purpose of Stock Markets
The stock market is one of the most important
(21) ... for companies to raise money. This allows businesses to be publicly
(22) or raise additional financial capital for expansion by selling shares of ownership of the company in a public market. The
(23) ... that an exchange provides affords investors the ability to quickly and easily sell securities. This is an attractive feature of
(24) ... in stocks.
Exchanges also act as the
(25) ... for each transaction, meaning that they collect and deliver the shares, and guarantee payment to the seller of a security. This eliminates the risk to an individual buyer or seller that the counterparty could
(26) ... on the transaction. The smooth functioning of all these activities facilitates economic growth in that lower costs. In this way the financial system is assumed to contribute to increased prosperity.