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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 ?
According to the IRS, the unregistered intellectual property exchanged by the taxpayer could not be treated as of like kind unless the specific underlying properties to which the unregistered intangibles relate are within the same General Asset Class or the same Product Class.
Minimum number of shares of each class of acquirer stock and the maximum amount of cash or other property to be exchanged for all of the target stock (in the aggregate); or
The exchanged property must be used in a trade or business.
Thus, a rental building exchanged for a building that the taxpayer intends to use as his or her personal residence does not qualify as a like-kind exchange; compare Dollie Click, 78 TC 225 (1982), with Fred S.
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.
1031(j)-1, the multiple-property like-kind rules determine the classification of the various properties when both real and personal property are being exchanged.
In January 2004, when the property had been depreciated for eight full years, Q exchanged the restaurant for a radio tower, in a Sec.
In substance, A would be completing a LKE with B, after which B would sell his newly exchanged property to C.
The taxpayer's relinquished property was a single parcel of unimproved land, which was exchanged for several different replacement properties.
1031(a)(1) provides for nonrecognition of gain or loss when property held for investment or trade or business use is exchanged for like-kind property held for investment or trade or business use.
Pursuant to a plan of merger, all the target shareholders exchanged their target stock for the acquirer's voting common stock.
1031 (a) (1) provides that a taxpayer does not recognize gain or loss on an exchange of property held for productive use in a trade or business or for investment, if he exchanged the property solely for like-kind property that he intends to hold for the same reasons.