exchange

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Exchange

Stock Exchange

A place, whether physical or electronic, where stocks, bonds, and/or derivatives in listed companies are bought and sold. A stock exchange may be a private company, a non-profit, or a publicly-traded company (some exchanges have shares that trade on their own floors). A stock exchange provides a regulated place where brokers and companies may meet in order to make investments on neutral ground. The concept traces its roots back to medieval France and the Low Countries, where agricultural goods were traded for cash or debt. Most countries have a main exchange and many also have smaller, regional exchanges. A stock exchange is also called a bourse or simply an exchange.

exchange


exchange

See swap.

Exchange.

Traditionally, an exchange has been a physical location for trading securities. Trading is handled, at least in part, by an open outcry or dual auction system.

Two examples in the United States are the New York Stock Exchange (NYSE), which has the largest trading floor in the world, and the Chicago Board Options Exchange (CBOE).

However, the definition is evolving. Traditional exchanges handle an increasing number of trades electronically, off the floor. Nasdaq and other totally electronic securities markets, without trading floors, have exchange status.

As a result, the terms exchange and market are being used interchangeably to mean any environment in which listed products are traded.

The term exchange also refers to the act of moving assets from one fund to another in the same fund family or from one variable annuity subaccount to another offered through the same contract.

exchange

see MARKET, BARTER.

exchange

  1. 1the transfer of the right to own or use goods and services. Exchange is necessary in specialized economies (see SPECIALIZATION). In simpler specialized economies, exchange can take the form of BARTER. In more complex specialized economies exchange is undertaken through MARKETS, where the right to own or use goods and services is bought and sold. See TRANSACTION.
  2. the means of financing the purchase of goods and services in a market. See MONEY, FOREIGN EXCHANGE.

exchange

Parties may exchange like-kind properties and not pay any income taxes at the time of the exchange but, instead, defer them until the later sale of the exchanged property. See 1031 exchange.

Exchange

A transfer of property for other property or services. Some exchanges produce currently taxable income while others can be structured so as to defer any tax liability.
References in periodicals archive ?
The new study quantifies for the first time how IXPs enable Kenya and Nigeria to save millions in telecommunications costs and raise additional revenues in these countries while simultaneously speeding local data exchange, and encouraging the development of locally hosted content and services.
The presence of effective IXPs induced Google to place a cache in both countries in Spring 2011, which has significantly increased the amount of locally distributed content (notably YouTube videos) at faster speeds.
There are many challenges associated with deploying 100G Ethernet service, especially in the IXP," said Gene Zhang, vice president and general manager, Asia Pacific at Spirent Communications.
It is recalled that in a meeting with ISPs held in April 2014, it came out that there was a gap in the technical know-how to operationalise and maximise the use of the local IXP.
New local content providers and services which rely on high-speed, low-cost connections become available, further benefiting from the broader user-base available via the IXP.
Executive Chairman of TZ Limited, Mark Bouris, said : "It's great to see our IXP business continue to deliver strong growth and for the business to continue to move forward towards achieving our stated revenue growth targets for this fiscal year.
He added : "Our 2014 outlook anticipates continued strong growth for all IXP regions particularly in the financial services sector as the Payment Card Industries Data Security Standard Version 3, which came into effect on 1 January 2014, has raised the bar considerably in terms of the physical security aspects required for the protection of cardholder information.
Additionally, the high speed low latency from IXP to IA is very important to us as we see IA/IXP coupling as an important area for our research.
Board support packages including support for the new Curtiss-Wright Manta Quad PowerPC, the Cogent CSB637 ARM920, Diamond Systems PC104 boards, SBS cPCI, FreeScale 5200, PQ3 reference boards, IXP 425 and others.
Earlier, Finamore was the general manager for Intel's Network Processor business where he led the organization responsible for the IXP family of network processors.