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A security whose title is transferable by delivery . See also: Negotiable instrument.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.


A security that may be bought or sold. Generally, a negotiable security is traded on the secondary market, but the initial sale takes place on the primary market. Negotiable securities may be low-risk, such a Treasury bonds, or high-risk, such as stocks. They are also known as marketable securities. See also: Nonmarketable security.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


1. Of, relating to, or being a price that is not firmly established.
2. Of or relating to an instrument that is easily transferable from one owner to another owner. With proper endorsement, most securities are negotiable.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.


A negotiable contract is one whose terms can be altered by agreement between the parties to the contract.

For example, when you negotiate the sale of your home, you might be willing to reduce the price, or you might be flexible about the closing date, generally in response to some concessions from the buyer.

Similarly, the interest rate on your mortgage or the number of points you pay might be negotiable with your lender.

A negotiable financial instrument or security is one that can be transferred easily from one party to another by endorsing and delivering the appropriate documentation.

Stock certificates are negotiable, for example, requiring the owner simply to sign the back and deliver the document to an agent. A check is also negotiable, transferring money from the writer to the payee on the basis of a signature and an endorsement.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
References in periodicals archive ?
This increase in consumption led to an increased demand for tradable goods and services, as well as non-tradable goods and services.
Consumer Price Index (CPI) follow the tradable-versus-nontradable pattern: tradable goods and services have lower inflation, and nontradable ones have higher inflation.
Transition economies displaying a ratio between non- tradables and tradables that exceeds the economy's structural flexibility, as given by (18), face problems with the inflation criterion while making progress toward fulfilling the debt criterion.
Clearly, they conclude, "The evidence from OECD countries broadly supports the predictions of the model, namely that faster productivity growth in the tradable relative to the non-tradable sector and an improvement in the terms of trade induces a real appreciation" [De Gregorio and Wolf (1994), p.1].
(8) A binding credit constraint amplifies the consumption drop in response to negative shocks to tradables' output, relative to perfect capital markets.
They break the undervaluation-growth relationship into two separate links, one from undervaluation to the size of tradables (that is, industry) and the other from the size of industry to economic growth.
In order to test whether these results extend to nonmanufactured tradable goods in the economy, and whether a real exchange rate appreciation has the expansionary effect on nontradable goods production predicted if resources are flowing in from tradables production, we divide the nonmanufactures components of GNP into three categories: (i) agriculture, mining, forestry and fishing industries; (ii) construction, transportation, and public utility industries; and (iii) services (retail trade, wholesale trade, finance, insurance, real estate, and other service industries).
The tradable sector accounted for only a negligible number of new jobs due to gains in service industries (eg, finance and consulting) being offset by losses in manufacturing and agricultural employment.
But starting from an unbalanced combination of tradable and non-tradable sectors, the interesting turnpike result is that in order to get back to a balanced economy, it pays to reallocate resources between the two sectors sooner rather than later.
However, the bias is generally small in economic terms for both MPS and model-combination forecasts--about one quarter the size of the standard deviation of the historical data for tradable and headline inflation, GDP growth and interest rate forecasts.
It is true, as Spence claims, that the tradable sector of the economy has lost many jobs in the past several decades.