Börsid

Börsid are organized marketplaces where buyers and sellers of financial instruments meet to trade. They provide a regulated venue for price discovery, liquidity, and transparency, and they host primary markets (new issues) and secondary markets (traded outstanding securities). Securities traded include shares, bonds, and derivatives, among others. Companies list on börsid to raise capital through initial public offerings, followed by secondary offerings and continued disclosure requirements.

Trading on börsid is typically conducted through an electronic or hybrid order book, using order types such as market orders and limit orders. Prices are determined by supply and demand, and trades are matched according to established rules. Clearinghouses and central counterparties handle settlement and risk management, often on a T+ settlement cycle.

Börsid operate under national or supranational regulation and supervision, with rules intended to ensure market integrity, investor protection, and financial stability. Typical requirements include listing standards, ongoing disclosure, and market surveillance. Participants include retail and institutional investors, brokers, dealers, market makers, and listed issuers. Some exchanges also operate multiple markets or segments, and there are also alternative trading venues such as electronic communication networks that complement traditional börsid.

Historically, stock exchanges emerged to concentrate trading and reduce transaction costs; today, börsid continue to play a central role in capital formation and investment, while adapting to technological advances such as high-frequency trading, cross-border access, and automated trading systems.