Simplify the following text for a Grade 7 native English-speaking person.
Original: There is usually no compulsion to issue stock via the stock exchange itself , nor must stock be subsequently traded on the exchange .
Simplified: A stock exchange , share market or bourse is a place where people meet to buy and sell shares of company stock . Some stock exchanges are real places ( like the New York Stock Exchange ) , others are virtual places ( like the NASDAQ ) .