Equities and bonds are two financial instruments traded in regulated financial markets. You are required to assess the two financial instruments and respond to the following questions: 1. Define each concept, identifying the key features of each type and how they function. 2. Explain the similarities and differences between the two types of securities. 3. Explain the role and importance of stock exchanges making reference to requirements applicable to financial institutions in order to be listed on the stock exchange. 4. Explain the importance of regulations in governing operations of the stock exchange.