Hello and welcome to LinuxQuestions,
A mail server is a group of several services / functions or how you would like to refer to it. You'd need all of them (almost all) to have the same or similar functionality as a Microsoft Exchange server. Have a look at the following site to get some ideas:
Linux alternatives for Microsoft Exchange.
Most of them, if not all, are or have a community (free) edition you can use. I advice you to first read thoroughly through the documentation and then try some of them out so you can get a feel of the ease and functionality.
I also wouldn't take the security part that light, security is a basic need when talking about mail servers. You wouldn't want your mail server being used as a relay for some spambot network, do you?
Looking forward to your participation in the forums. Have fun with Linux.
Kind regards,
Eric