1. Different definitions: A stock exchange refers to a securities market established with the approval of the State Council and registered according to law, and is a place for securities trading. A securities company refers to a company that is legally established and registered to engage in securities business, and is an institution that provides securities trading and investment services.
2. Different functions: The main function of a stock exchange is the trading and issuance of securities products such as stocks, bonds and funds. The main functions of securities companies are to provide clients with securities trading, investment consulting, margin financing and securities lending services, and to provide clients with securities investment solutions.