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Exchange

Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

exchange


exchange

See swap.
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.

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.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.

exchange

see MARKET, BARTER.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

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.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005

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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.

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.
Copyright © 2008 H&R Block. All Rights Reserved. Reproduced with permission from H&R Block Glossary
References in periodicals archive ?
The first public telephone exchange in the UK opened in London in 1879.
Hylton is one of 87 telephone exchanges being upgraded across the North-East as part of a pounds 10m scheme led by regional development agency One NorthEast and British Telecom.
A spokesman for Cable and Wireless said the problem was related to a power failure at its Birmingham telephone exchange. 'Lines at the exchange went down following a component fault.'
However, the prosecution, the CBI, said, "it is yet to receive the copy of the judgment related to illegal Telephone Exchange case against Dayanidhi Maran, and others.
The distinctive brick building with its architectural features will remain as an important telephone exchange.
The lower ground floor of the Newhall Street building, which pioneered British telephone exchanges more than 100 years ago, will be converted following a major renovation programme for the 4,121 sq ft premises after new leaseholders sought permission from the Department of Environment and heritage organisations.
Conducting the required, rehabilitation, supply & erection of (a) two diesel generators at Beni Suif Telephone Exchange of 600 KVA capacity, (b) transport of generators from Beni Suif Telephone Exchange to Sohag East Telephone Exchange & (c) transport of other generators from Sohag East Exchange to Sohag West & Tahta Exchanges.
Ambala (Haryana), May 16 (ANI): A telephone exchange office in Ambala caught fire on Friday night.
SWAT, 27 April, 2009 (Balochistan Times) --Taliban have taken control of telephone exchange in Bahrain area of Swat.

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