Some are traded over the counter, without a specific central trading location.

部分在柜台交易，没有明确集中的交易场所。

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Article 25 a securities firm shall maintain all accounts and related trading certificates, vouchers, books and statements, and contracts at its business location.

第25条证券商应将所用帐簿及有关交易凭证、单据、表册、契约，置于营业处所。

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Unlike other stock exchanges, NASDAQ has no central location where trading takes place. Instead, its market makers are located all over the country and make trades by telephone and via the Internet.

与其他证交所不同，纳斯达克没有股票交易的中心交易场所，它的市场期票出票人遍及全美各地，通过电话和互联网进行交易。

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There were also closures two years ago, which were blamed on slow trading and the close location of the branches to existing Nationwide branches.

BBC: More Derbyshire Building Society branches to close

Owing to geography, Japan found itself at the periphery of the Asian global trading network, and precisely because of this peripheral location it has been able to retain its independence throughout its history.

ECONOMIST: The once and future boom

For investment banks, the data centers can provide co-location of their algo engines next to exchanges to reduce latency in high frequency trading.

FORBES: New Equinix Marketplace Can Link Financial Firms and Digital News