Large exhibitions regularly held in the open (7)

I believe the answer is:

exposed

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'open' is the definition.
(synonyms)

'large exhibitions regularly held in' is the wordplay.
'large' becomes 'os' (abbreviation for oversize).
'exhibitions' becomes 'exp' (I can't explain this - if you can you should give a lot more credence to this answer).
'regularly' indicates alternate letters (regularly take one letter, leave next etc.).
'in' is an insertion indicator.
The alternating letters of 'held' are 'ed'.
'exp'+'ed'='exped'
'os' inserted into 'exped' is 'EXPOSED'.

'the' acts as a link.

Can you help me to learn more?

(Other definitions for exposed that I've seen before include "Showed up" , "Shown up" , "Like a dummy" , "Unprotected from the weather" , "With no protection or shield" .)

I've seen this clue in The Times.

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