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Definition: Exchange

Exchange is a mutual understanding or documentation between two entities which are doing some business or trade. As a part of the business deal, there is an exchange of goods of services for which money is given, depending upon the value of the business. 

If the values of the both the goods are same, then the exchange of goods happens which is known as barter system. For eg a person gives always his old laptop to another person who wants to give away his old motorcycle. If they feel the values are the same, they simply exchange the products as a barter deal.

In stock markets, exchange is a place where listing of company stocks, buying and selling of stocks etc take place.

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