What is a stock exchange?
Could you please elaborate on the concept of a stock exchange in a concise yet thorough manner? Specifically, I'm interested in understanding its fundamental role in the financial market, the types of transactions that occur there, and how it facilitates the buying and selling of securities. Additionally, I'd like to know if there are any specific regulations or standards that govern the operations of a stock exchange and what role they play in ensuring fair and transparent trading practices. Finally, how does a stock exchange differ from other financial institutions, and what are some of the key factors that make it an integral part of the global financial system?