exchange

Definition of exchange

ex`change´ Pronunciation: ĕks`chānj´

The act of giving or taking one thing in return for another which is regarded as an equivalent; as, an exchange of cattle for grain.

The act of substituting one thing in the place of another; as, an exchange of grief for joy, or of a scepter for a sword, and the like; also, the act of giving and receiving reciprocally; as, an exchange of civilities or views.

The thing given or received in return; esp., a publication exchanged for another.

(Com.) The process of setting accounts or debts between parties residing at a distance from each other, without the intervention of money, by exchanging orders or drafts, called bills of exchange. These may be drawn in one country and payable in another, in which case they are called foreign bills; or they may be drawn and made payable in the same country, in which case they are called inland bills. The term bill of exchange is often abbreviated into exchange; as, to buy or sell exchange.

(Law) A mutual grant of equal interests, the one in consideration of the other. Estates exchanged must be equal in quantity, as fee simple for fee simple.

The place where the merchants, brokers, and bankers of a city meet at certain hours, to transact business; also, the institution which sets regulations and maintains the physical facilities of such a place; as, the New York Stock Exchange; a commodity exchange. In this sense the word was at one time often contracted to 'change

Arbitration of exchange
See under Arbitration.

Bill of exchange
See under Bill.

Exchange broker
See under Broker.

Par of exchange

the established value of the coin or standard of value of one country when expressed in the coin or standard of another, as the value of the pound sterling in the currency of France or the United States. The par of exchange rarely varies, and serves as a measure for the rise and fall of exchange that is affected by the demand and supply. Exchange is at par when, for example, a bill in New York, for the payment of one hundred pounds sterling in London, can be purchased for the sum. Exchange is in favor of a place when it can be purchased there at or above par.

Telephone exchange
a central office in which the wires of any two telephones or telephone stations may be connected to permit conversation.

v. t.

To part with give, or transfer to another in consideration of something received as an equivalent; - usually followed by for before the thing received.

[imp. & p. p. Exchanged ; p. pr. & vb. n. Exchanging .]

Exchange his sheep for shells, or wool for a sparking pebble or a diamond.

- Locke.

To part with for a substitute; to lay aside, quit, or resign (something being received in place of the thing parted with); as, to exchange a palace for cell.

And death for life exchanged foolishly.

- Spenser.

To shift his being
Is to exchange one misery with another.

- Shak.

To give and receive reciprocally, as things of the same kind; to barter; to swap; as, to exchange horses with a neighbor; to exchange houses or hats.

Exchange forgiveness with me, noble Hamlet.

- Shak.

v. i.

To be changed or received in exchange for; to pass in exchange; as, dollar exchanges for ten dimes.

Related Words

American Stock Exchange, Amex, ESP, Wall Street, abalienate, abalienation, agency, agent, alien, alienate, alienation, altercation, alternate, alternation, alternative, amortization, amortize, amortizement, analogy, answer, area code, argument, assign, assignation, assignment, backup, badinage, bandy, banter, bargain, bargain and sale, bartering, battledore and shuttlecock, be quits with, bequeath, bequeathal, board, boomerang, bourse, brokerage, buy and sell, buying and selling, cede, cession, chaff, change, change for, changeling, colloquial discourse, colloquy, comeback, commerce, commodity exchange, communication, communion, commutation, commute, comparison, compensate, compound for, confer, conferment, conferral, congress, connection, consign, consignation, consignment, contact, conversation, converse, conversing, convey, conveyance, conveyancing, cooperate, cooperation, copy, corn pit, correspondence, counter, counterblast, counterblow, counterchange, counterfeit, counterstroke, cross fire, curb, curb exchange, curb market, deal, dealing, dealings, deed, deed over, deeding, delegation, deliver, deliverance, delivery, demise, deputation, deputy, deputyship, devolve upon, disagreement, discourse, displace, displacement, disposal, disposition, do business, doing business, double, dub in, dummy, enfeoff, enfeoffment, equal, equivalent, ersatz, exchange floor, fake, fill-in, fooling, fooling around, get back at, get even with, ghost, ghostwriter, give, give and take, give in exchange, give place to, give title to, give-and-take, giving, good-natured banter, hand, hand down, hand on, hand over, harmless teasing, horse trading, horse-trade, imitation, information, interaction, intercommunication, intercommunion, intercourse, interlocution, intermutation, interplay, jape, jest, jive, jobbing, joke, josh, kidding, kidding around, lease and release, lex talionis, linguistic intercourse, locum tenens, logroll, make do with, make over, make way for, makeshift, market, measure for measure, merchandising, message, metaphor, metonymy, mutual admiration, mutual support, mutual transfer, mutuality, negotiate, next best thing, offer in exchange, outside market, over-the-counter market, pass, pass on, pass over, pay back, permutation, permute, persiflage, personnel, phone book, phone number, phony, pinch hitter, pit, pleasantry, power of attorney, proxy, put up with, quarrel, quid pro quo, quotation board, raillery, rallying, rapping, reciprocality, reciprocate, reciprocation, reciprocity, recoil, redeem, relief, replace, replacement, reply, representation, representative, requite, reserves, respond, response, retailing, retaliate, retaliation, retort, return, return the compliment, ridicule, ring in, ringer, sale, second string, secondary, sell, settle, settle on, settlement, settling, shift with, sign, sign away, sign over, social intercourse, something for something, spares, speaking, speech, speech circuit, speech situation, sport, stand-in, stock exchange, stock market, stock ticker, sub, subrogation, substituent, substitution, succedaneum, supersedence, superseder, superseding, supersedure, supersession, supplantation, supplanter, supplanting, supplantment, surrender, surrogate, swap, swap horses, swapping, switch, symbol, synecdoche, take in exchange, talking, telepathy, telephone area, telephone directory, telephone exchange, telephone market, telephone number, the Big Board, the Exchange, the Street, third market, third string, ticker, ticker tape, tit for tat, token, touch, trade in, trade off, trade sight unseen, trading, traffic, trafficking, transfer, transference, transmission, transmit, transmittal, transposal, transpose, transposition, truck, turn over, twit, two-way communication, understudy, unpleasantness, utility player, verbal intercourse, vesting, vicar, vicariousness, vice-president, vice-regent, wheat pit, wheeling and dealing, wholesaling

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