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 ?
It is not supported by the Exchange Backup API, and the 3rd-party brick-level backup methods are too slow to be practical.
27) If the relinquished property is subject to a deed of trust or other liability, the amount owed on this deed of trust, which the client is relieved of in the exchange, is treated as money or boot received by the client under Sec.
For that reason, many taxpayers use the exchange first structure.
Consortia that sign too many strategic investors may wind up with "me-too" investors that aren't committed to actually using the exchange, or that use it as a default ebusiness strategy.
The exchange must be completed within 180 days to receive the automatic safe-harbor protection.
The IRS reached a contrary conclusion when the intent to exchange preceded liquidation and the exchange occurred immediately after the distribution.
1031(f) because the related party on one side of the exchange may receive money.
The first two types rely on an accommodator or intermediary who is hired to complete the exchange.
CASE vision is to be the Exchange of Choice in the Middle East & North Africa Region and achieve market recognition, both in terms of quality and delivery of its services.
Pursuant to the terms of the Exchange Agreements, LSB will issue an aggregate of 720,967 shares of its common stock in exchange for an aggregate of 97,428 shares of Series 2 Preferred and the holders have agreed to waive their rights to all accrued and unpaid dividends on the Series 2 Preferred being exchanged.
In the proposed exchange offer, PMI will offer to exchange, upon the terms and subject to the conditions set forth in the prospectus relating to the exchange offer and the accompanying letter of transmittal, a new series of 2.