An exchange is a marketplace where buyers and sellers come together to trade financial instruments.

Financial instruments include:

• Shares (a company’s capital)
• Bonds (a company’s debt)

There are also other products such as:

• Exchange-Traded Funds (ETFs), which are index funds that can be used to track indices such as the CAC 40
• Leveraged products, for example derivatives like options, and structured products (including warrants and turbos).