Trading Environments and Market Participants
Organized Markets and Trading Venues
Stocks are generally bought and sold on organized venues that establish rules for listing, order entry, and trade reporting. These venues maintain systems that record bids, offers, and executed transactions. The Info page uses neutral language to describe elements such as order books, continuous trading sessions, and closing auctions. The focus is on how these mechanisms operate at a structural level, rather than on evaluating their effectiveness or comparing particular venues. This overview is intended to give readers a sense of how trades move from an initial order to a completed transaction.
Types of Market Participants
A variety of participants interact in stock markets, including individual investors, institutional investors, intermediaries, and entities that supply liquidity. Each category typically plays a distinct role. Individual investors may enter orders through independent service providers. Institutional investors may manage portfolios on behalf of organizations or funds. Intermediaries may route, match, or clear orders. Entities that provide liquidity may post firm quotes and stand ready to trade under defined conditions. The Info page describes these roles in general terms, without assigning value judgments or proposing any specific approach as preferable.
