I feel a little bit ashamed, but I have never understood the difference between transactions and journals. This question is quite related. However, I could not find any clear differentiation.
For example, in my little field (software engineering) IEEE Transactions on Software Engineering is considered the top venue. However, there is not an IEEE journal on Software Engineering (or whatever name). To be honest, I have never seen any publisher on software engineering having both transactions and a journal on software engineering. This is also why I fail do differentiate them.
This is what IEEE writes at its FAQ page.
What is the difference between IEEE Journals, Transactions, Letters, and Magazines?
Journals, Transactions, and Letters are the primary means for publishing technical papers concerning original work in IEEE fields of interest. [..] The primary purpose of Journals, Transactions, and Letters is to disclose and provide a permanent archival record of original technical work that advances the state of the art or provides novel insights. Papers in Journals, Transactions, and Letters should be of lasting value to the professional as judged by the authors’ peers through a formal review process. [..]
The omitted part is about letters and magazines, so it is not related. Am I really missing it, or they do not really differentiate?
What is the difference?