A question I've had since hearing of the Russian stock exchange being closed, and how this will likely cause a severe drop in their stock values once it opens again, is how does a closed stock exchange stop people from trading their stocks?
I'm sure there is some reason for it, but I can't figure it out. If all the estate brokers were to close that wouldn't stop people from buying/selling houses. It would certainly make it harder to link the sellers with appropriate buyers, but it wouldn't make it impossible. So why are stocks different?