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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 ?
When the improvements are constructed and become part of the replacement property, that property (including the newly constructed improvements) is then exchanged for the relinquished property.
person, the section 1248 amount is defined in essentially the same way as under the existing temporary regulations: it is the amount such shareholder would be required to treat as a dividend under section 1248 if it disposed of the stock exchanged in a taxable transaction.
If automobiles and computers are exchanged for other automobiles and computers, two exchange groups are created, one consisting of the automobiles transferred and received and the second consisting of the computers transferred and received.
After understanding the basics of like-kind exchanges, one can begin addressing how to allow one partner to sell his interest for cash, while the other retains its interest in the exchanged property.
an intermediary) with which the taxpayer exchanged the two properties.
354 and 356 (nonrecognition treatment) if, in pursuance of the plan of reorganization, securities of the surviving corporation are exchanged for securities of the controlling corporation or for other securities of the surviving corporation.
1031 (a)-1 (b) states that "like-kind" property refers to the nature or character of the property, not to its grade or quality; thus, real property exchanged for real property will qualify as like kind regardless of the state of improvement of the property.
83 million of aggregate principal amount of exchange notes committed to be exchanged as part of the previously-announced support agreements) and to provide Revlon with any cash consideration Revlon would be required to pay in the exchange offers (other than cash payable for accrued interest due on the exchanged notes), due to the success of the exchange offers, MacAndrews & Forbes will not be required to back-stop the exchange offers or to otherwise make a cash investment in connection with the exchange offers.
The maximum principal amount of notes that may be exchanged for cash is $150 million reduced by the aggregate principal amount of any notes tendered and exchanged in the exchange offers for shares of Revlon Class A common stock in excess of the amounts the Institutional Investor and MacAndrews & Forbes currently hold and have agreed to tender for exchange.
These securities may not be exchanged or sold, nor may offers to exchange or offers to buy them be accepted prior to the time the registration statement becomes effective.
There is tremendous demand for a neutral environment in which Internet traffic - from email to video - can be exchanged between content providers and ISPs," said Jay Adelson, CTO of Equinix.