Historically, sellers of FMCGs operated in a specific location (store, fair, market). One of these places came to be called the stock exchange - a place for trading where sellers and buyers met. But, unlike a store or a fair, the exchange did not trade in goods, but concluded contracts for the sale based on samples of the goods or its description.
Instructions
Step 1
Nowadays, an exchange is an organization that is endowed with the rights of a legal entity, conducting open public auctions according to the rules established for all participants in a predetermined place and at a certain time. In other words, an exchange is a platform (building) for trading, where sellers and buyers of a certain product meet if there are conditions for its sale. There are workers on the exchange - exchange intermediaries (dealers, brokers, brokers). Without their participation, the work of the exchange is impossible.
Step 2
The exchange is characterized by some features that distinguish it from other trading institutions. An exchange is a special type of organization that operates under a special permit (license). Exchange activity is subject to mandatory control by international and state institutions. The task of the exchange is to conduct trading operations on an ongoing basis, according to the same rules established for all its participants. The presence of an exchange makes it possible to clearly streamline market trading.
Step 3
In a broader sense, an exchange is an organized, continuously operating wholesale market where similar goods are sold. The exchange is a kind of intermediary between the seller and the buyer, it helps to establish contacts between bidders, plays a significant role in setting wholesale and retail prices. If the subject of transactions on the exchange are consumer goods with traditional consumer qualities, then we are talking about a commodity exchange. The sale of products on it takes place without preliminary inspection according to the samples of the goods. At the same time, the minimum batch size is negotiated.
Step 4
In addition to the commodity, there are other types of exchanges. On the stock exchange, securities (shares of enterprises and banks, promissory notes, bonds) act as the object of purchase and sale. The freight exchange carries out transactions with freight documents - insurance contracts for the imported goods. On the currency exchange, the subject of trading is foreign currency and checks of foreign countries.
