Organized exchanges have physical locations where trading takes place, while the over-the-counter market is comprised of a network of brokers and dealers that interact electronically.

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Organized exchanges, such as the New York Stock Exchange, have physical locations where transactions are carried out on a trading floor. In contrast, the over-the-counter (OTC) market operates through a decentralized network of brokers and dealers who trade securities electronically, without a centralized physical location.

Organized Exchanges Have Physical Locations Where Trading Takes Place, While