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 ?
The trust has secured planning consent and exchanged contracts to develop a new flagship restaurant alongside the existing TGI Fridays restaurant unit at the Junction 27 Retail Park.
We have exchanged contracts on a property and will start the refit around May or June with the aim of opening, subject to planning permission, in the autumn," said a spokeswoman.
The firm also announced it had exchanged contracts, subject to planning, on a new Village Hotel & Leisure Club in Farnborough.
Ramsden himself stated: "We've exchanged contracts and are hoping to complete on December 7.
uk Q I have not exchanged contracts on my new property but the completion date has been agreed by all parties in the chain for many weeks.
Morrisons said it had exchanged contracts on four stores in the North of England to fulfil commitments made to the Office of Fair Trading (OFT) in December 2003.
But he added: ``We have exchanged contracts on several property sales in the current period and the contracting division continues to make steady progress.
Warehouse Retail warehouse property group Grantchester Holdings has exchanged contracts for the sale of its B&Q Warehouse store in Norwich to Canada Life for pounds 22 million, reflecting a net initial yield to the purchaser of approximately 5.
the pan European operator of carrier neutral Information Technology (IT) MegaPlexes, announces today that they have exchanged contracts for the acquisition of an IT MegaPlex colocation facility in Stockholm, Sweden.
The buyer and vendor are considered to have exchanged contracts and be legally bound at the fall of the hammer.
BARNSLEY have confirmed that Peter Ridsdale has exchanged contracts with Peter Doyle, as the former Leeds chairman's takeover of the Second Division club nears completion.
Workspace has exchanged contracts over the pounds 44.