Stock exchanges provide a regulated marketplace for companies to raise capital and investors to trade securities like bonds, shares, and notes. They offer transparency through public pricing and company information as well as protections for investors' rights and counterparty safety. Demutualization transformed member-owned stock exchanges into shareholder-owned companies. In India, the Bombay Stock Exchange (BSE) was the first and is the oldest exchange, becoming demutualized in 2007. It prides itself on being the fastest exchange in the world with trades completed within 6 microseconds.