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 ?
By adjusting for multiple EDC exposures in a semi-Bayesian model, we accounted for co-pollutant confounding, let individual beta coefficients borrow information from their exchangeability group, and were able to compare the magnitude of association across chemicals.
We propose a method to construct a general dependence structure in the form of a double mixture model, in which the conditional iid assumption is replaced by the more general assumption of conditional exchangeability. As a simple illustration, we consider a weighted average of two cases: conditional independence and comonotonicity, for which the limiting correlation is included as a model parameter.
On the one hand, there is the dynamic of circulation and exchangeability through masquerade.
(27) "Concerning Voice and Vote for Ordained Ministers of Word and Sacrament Serving under Exchangeability Provisions of Full-Communion Relationships"; available at http://www.elca.org/~/ media/Files/Who%20%20Are/Ecumenical%20and%20Inter%20Religious%20Relations/ ECUMENICAL%20VOICE%20AND%20VOTE 1.pdf.
In its allusion to Bicycle Thieves, Jaws foregrounds the role of exchangeability in the distribution of private "value." The ideological difference between Bicycle Thieves and Jaws becomes another feature of the difference that one man can make in "Amity," (a word that serves here for a metonym for humanism), as Jaws refuses to differentiate private value from monetary value, but rather confronts one with its tendency to fade into the other, even in a fervently humanist film like Bicycle Thieves.
Naturally, standardization helps achieve exchangeability in LEDs.
The exchangeability of sulfate and nitrate with arsenate HA/FA complexes was determined by placing equal portions of HA and FA suspensions into stopper bottles.
Third, I will relax the requirements introducing the expected exchangeability treatment assumption.
She continues her argument with analyses of photography, photographs, and photographically inflected prose in the figure of Karl Rossmann, whose photo of his parents back in Prague only alienates him further from them (79), in Joseph K., whose snapshot of Leni encapsulates an apparently arbitrary exchangeability that structures subject-object relations (in addition to the apparently arbitrary trajectory of Joseph K.'s own fate) (88ff.), and the similar inaccessibility that lines the borders of exchangeability and arbitrary rate in Der Prozess (105).
* Full dimensional exchangeability with standard counterparts.
Under severe hyperinflation, a reliable general price index for all entities and exchangeability with a relatively stable currency are not available.
Some authors try to overcome this restriction interpreting de Finetti's exchangeability condition as a link between personal and physical probabilities.