Borsa

Borsa is a term used in several languages, including Italian and Turkish, to denote a stock exchange or financial market where securities and other instruments are bought and sold. The word derives from the Latin bursa, meaning purse or bag, and in many languages it has come to symbolize a marketplace for value-bearing assets.

An exchange provides a centralized venue for price formation, liquidity, and capital formation. It enables trading of standardized securities such as equities and bonds, and, in many markets, derivatives and other instruments. Trading is typically conducted via electronic platforms or trading floors, with orders matched under predetermined rules and settlements carried out through clearinghouses to mitigate counterparty risk.

Exchanges are subject to regulatory oversight and to the listing requirements of the exchange itself. Rules cover disclosure, corporate governance, market conduct, and settlement timelines. Market structures range from organized stock exchanges to over-the-counter platforms, with varying levels of transparency and regulation.

Notable national examples include Borsa Italiana in Italy and Borsa Istanbul in Turkey. The concept exists globally under different local names, and most countries maintain a central marketplace for trading publicly issued securities. See also stock exchange, financial market, and market regulation.