A marketplace that facilitates the buying and selling of financial securities. In the United States, the two major stock exchanges are the New York Stock Exchange (NYSE) and the NASDAQ. Listing on these exchanges is typically necessary for a company to achieve a stable and viable level of liquidity to attract market participants to its stock. Companies desiring to get listed on either exchange must meet certain capital and bid price parameters, and pay all requisite fees. Maintaining certain capital levels and bid-price floors are among requirements for continued listing.