Definitions for: Exchange

[n] (chess) the capture by both players (usually on consecutive moves) of pieces of equal value; "the endgame began after the exchange of queens"
[n] (chess) gaining (or losing) a rook in return for a knight or bishop; "black lost the exchange"
[n] the act of putting one thing or person in the place of another: "he sent Smith in for Jones but the substitution came too late to help"
[n] reciprocal transfer of equivalent sums of money especially the currencies of different countries; "he earns his living from the interchange of currency"
[n] the act of giving something in return for something received; "deductible losses on sales or exchanges of property are allowable"
[n] the act of changing one thing for another thing; "Adam was promised immortality in exchange for his disobedience"; "there was an exchange of prisoners"
[n] (tennis or squash) an unbroken sequence of several successive strokes; "after a short rally Connors won the point"
[n] a workplace that serves as a telecommunications facility where lines from telephones can be connected together to permit communication
[n] a workplace for buying and selling; open only to members
[n] a mutual expression of views (especially an unpleasant one); "they had a bitter exchange"
[n] chemical process in which one atom or ion or group changes places with another
[v] change over, change around, or switch over
[v] exchange or replace with another, usually of the same kind or category; "Could you convert my dollars into pounds?"; "He changed his name"; "convert centimeters into inches"; "convert holdings into shares"
[v] exchange a penalty for a less severe one
[v] give to, and receive from, one another; "Would you change places with me?"; "We have been exchanging letters for a year"
[v] exchange prisoners, employees, etc.

Webster (1913) Definition: Ex*change", 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.

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.

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

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.

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.

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.

6. The place where the merchants, brokers, and bankers of a
city meet at certain hours, to transact business. In this
sense 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.

Syn: Barter; dealing; trade; traffic; interchange.

Ex*change", v. t. [imp. & p. p. Exchanged; p. pr. &
vb. n. Exchanging.] [Cf.OF. eschangier, F. ['e]changer. See
Exchange, n.]
1. To part with give, or transfer to another in consideration
of something received as an equivalent; -- usually
followed by for before the thing received.

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

2. 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.

3. 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.

Syn: To barter; change; commute; interchange; bargain; truck;
swap; traffic.

Ex*change", v. i.
To be changed or received in exchange for; to pass in
exchange; as, dollar exchanges for ten dimes.

Synonyms: central, change, change, commutation, commute, convert, interchange, interchange, rally, substitution, switch, switch over, telephone exchange

See Also: ablactation, alter, alternate, badminton, barter, barter, break, capitalise, capitalize, capture, cash, cash in, centrex, change, change by reversal, chemical phenomenon, commerce, commercialism, commodities exchange, commodities market, commodity exchange, conversation, conversion, corn exchange, dealing, dealings, fill in, foreign exchange, group action, launder, lawn tennis, logrolling, mercantilism, patchboard, phone system, photochemical exchange, Ping-Pong, plugboard, quid pro quo, ransom, reassign, rectify, redeem, replace, replace, replacement, replacing, reverse, securities market, sell, squash, squash rackets, squash racquets, stand in, stock exchange, stock market, sub, subrogation, substitute, swap, swap, switch, switchboard, swop, swop, table tennis, telephone system, tennis, trade, trade, trade in, tradeoff, trade-off, transaction, transfer, transfer, turn, utilize, weaning, work, workplace

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