In trading, exposure is a general term that can mean three things: the total market value of your trades at open, the total amount of possible risk at any given point, or the portion of a fund invested in a particular market or asset.

An exchange is an open, organized marketplace for commodities, stocks, securities, derivatives, and other financial instruments. The terms' exchange and market are often used interchangeably, as they both describe an environment in which listed products can be traded.

Exchange-traded products, or ETPs, are a variety of financial instruments that are traded throughout the day on national exchanges.

ETF stands for exchange-traded funds, a type of investment security that is bought and sold on exchanges.