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Commercial Papers are used for the specific deals, agreements or contracts intended between the parties. Securities are issued by sock exchange s to collect money for raising capital from general public that are tradable and transferable.
Securities are issued by listed (listed/registered on Stock Exchange Body like in India BSE and NSE) companies to collect money form general public. Securities are tradeable and transferrable.
Other valuable documents like Deeds realting to property, vehicle, valuable commodities are commercial papers used for specific purpose and deals as per intent of parties.
Securities are classified as Equity and Debit. Commercial Paper is one kind of short term bond / Debit Security. Thanks.