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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 ?
Reverse exchanges can be a valuable tool, but they also have some disadvantages.
Also, because reverse exchanges are more complex and an EAT assumes greater risk than a qualified intermediary, they are more expensive than forward exchanges.
1031 tax-free exchanges often rely on professional exchange companies--such as affiliates of escrow and title companies--to draft documents, advise on tax and legal issues and close the transaction.
Reverse exchanges occurring outside the ambit of Rev.
These are key attributes to realizing Exchange server consolidation projects.
With the advent of revenue procedure 2000-37, the IRS has finally endorsed what are commonly called "reverse" exchanges on real estate and other investment property.
Consequently, businesses involved in B2B exchanges need to identify and assess risk, and then develop corollary risk prevention, mitigation and financing efforts.
While these exchanges are only now gaining visibility in the insurance industry, the future looks bright.
Like personals listings, the exchanges are primarily information services, linking suppliers with buyers.
367(a)-3 would apply to outbound transfers of stock or securities in the context of exchanges described in (i) section 351, (ii) section 354 (provided that the underlying reorganization is governed by section 368(a)(1)(B)), and (iii) section 361.
LONDON -- The London Stock Exchange and the Tel Aviv Stock Exchange today signed a Memorandum of Understanding to formalise the existing strong ties between the two organisations.