The meeting of supply and demand for the issuance and trading of ownership shares in companies (the market in which equities are issued and traded). The main difference between shares and debt instruments is that shares do not have to be repaid by the issuer. – See Stock Trading, Barefoot Pilgrims, Stock Exchange – Cf. ECB Monthly Report of November 2007, pp. 67 ff. (Structural changes in the stock market and consolidation of stock exchanges; detailed presentation), Deutsche Bundesbank Monthly Report of September 2014, pp. 19 ff. (Stock market in Germany; broad and in-depth analysis of supply and demand; overviews; references).

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