Exchange broker
exchange ex*change" ([e^]ks*ch[=a]nj"), n. [OE. eschange, eschaunge, OF. eschange, fr. eschangier, F. ['e]changer, to exchange; pref. ex- out + F. changer. See {Change}, and cf. {Excamb}.] 1. 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. [1913 Webster]

2. 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. [1913 Webster]

3. The thing given or received in return; esp., a publication exchanged for another. --Shak. [1913 Webster]

4. (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. [1913 Webster]

Note: A in London is creditor to B in New York, and C in London owes D in New York a like sum. A in London draws a bill of exchange on B in New York; C in London purchases the bill, by which A receives his debt due from B in New York. C transmits the bill to D in New York, who receives the amount from B. [1913 Webster]

5. (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. --Blackstone. [1913 Webster]

6. 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} [1913 Webster +PJC]

{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.

Syn: Barter; dealing; trade; traffic; interchange. [1913 Webster]


The Collaborative International Dictionary of English. 2000.

Look at other dictionaries:

  • Exchange broker — Broker Bro ker (br[=o] k[ e]r), n. [OE. brocour, from a word akin to broken, bruken, to use, enjoy, possess, digest, fr. AS. br[=u]can to use, enjoy; cf. Fries. broker, F. brocanteur. See {Brook}, v. t.] 1. One who transacts business for another; …   The Collaborative International Dictionary of English

  • exchange broker — A broker who makes and concludes bargains for others in matters of money or merchandise; learns the rate of exchange, and notifies his employers. Portland v O Neill, 1 Or 218, 219. A broker who negotiates bills of exchange drawn on foreign… …   Ballentine's law dictionary

  • exchange broker — financial agent or intermediary dealing with the stock market …   English contemporary dictionary

  • foreign exchange broker — intermediaries ( intermediary) in the foreign exchange market that do not put their own money at risk. Bloomberg Financial Dictionary * * * foreign exchange broker foreign exchange broker ➔ broker1 * * * foreign exchange broker UK US noun [C]… …   Financial and business terms

  • foreign-exchange broker — A broker who specializes in arranging deals in foreign currencies on the foreign exchange markets Most transactions are between commercial banks and governments. Foreign exchange brokers do not normally deal direct with the public or with firms… …   Big dictionary of business and management

  • foreign exchange broker — /ˌfɒrɪn ɪks tʃeɪndʒ ˌbrəυkə/, foreign exchange dealer noun a person who deals on the foreign exchange market …   Dictionary of banking and finance

  • stock exchange broker — one who deals with the trading of stocks in the stock market …   English contemporary dictionary

  • broker — bro·ker / brō kər/ n: an agent who negotiates contracts of sale (as of real estate or securities) or other agreements (as insurance contracts or mortgages) between the parties for a fee or commission compare dealer, finder ◇ An insurance broker… …   Law dictionary

  • Broker — Bro ker (br[=o] k[ e]r), n. [OE. brocour, from a word akin to broken, bruken, to use, enjoy, possess, digest, fr. AS. br[=u]can to use, enjoy; cf. Fries. broker, F. brocanteur. See {Brook}, v. t.] 1. One who transacts business for another; an… …   The Collaborative International Dictionary of English

  • exchange — ex*change ([e^]ks*ch[=a]nj ), n. [OE. eschange, eschaunge, OF. eschange, fr. eschangier, F. [ e]changer, to exchange; pref. ex out + F. changer. See {Change}, and cf. {Excamb}.] 1. The act of giving or taking one thing in return for another which …   The Collaborative International Dictionary of English

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