What's the difference between a stock exchange and a securities company?

1, different in nature. A stock exchange is a legal person that provides places and facilities for centralized securities trading, organizes and supervises securities trading, and implements self-discipline management, while a securities company is an institution that is approved by the competent authority and obtains a business license from the relevant administrative department for industry and commerce and specializes in securities business.

2. Different management decision-making mechanisms. The decision-making bodies of stock exchanges are the general meeting of members and the board of directors, and most securities companies are joint-stock companies, which are managed by the general meeting of shareholders and the board of directors.

3, different responsibilities, the stock exchange shall provide guarantee for the organization of fair and centralized trading, publish the real-time market of securities trading, and make and publish the market table of securities trading according to the trading day. The main duties of securities companies are to design and plan the stock listing of restructured enterprises and provide intermediaries for ordinary investors to buy and sell stocks.