Interchangeable. The term is often used to apply to financial instruments which...
Interchangeable in law. The concept that one unit of a security is interchangeable with any other unit of the same security. For example, one share of AT&T common stock is interchangeable with any other share of AT&T common stock.
A security or commodity is fungible if it is perfectly interchangeable with any other of the same type, class and issuer.... more on: Fungible
A security which can be exchanged for another of a similar, or the same, type. A fungible asset is one which is so similar to another as to be indistinguishable.
Substitutable. Any unit that is as acceptable as another; usually used in connection with standardized FHA mortgage documents, appraisals and property standards which make mortgages more marketable because of their substitutability.
of goods or commodities; freely exchangeable for or replaceable by another of like nature or kind in the satisfaction of an obligation
Able to be co-mingled, identical securities in a bookkeeping system in which no specific securities are assigned by serial number to any one holder's account. See Non-Fungible.
Interchangeable. A fungible security can be exchanged for another security answering the same description.
"Being of such a nature or kind that one unit or part may be exchanged or substituted for another unit or equal part to discharge an obligation." Examples: money or grain. Not examples: works of art. Source: econterms
New Latin fungibilis, from Latin fungi to perform: being something (as money or a commodity) one part or quantity of which can be substituted for another of equal value in paying a debt or settling an account. Example: oil, wheat, and lumber are fungible commodities.
Interchangeable. Products which can be commingled for purposes of pipeline shipment.
When two or more things are interchangeable, can be substituted for each other, or are of equal value, they are described as fungible. For example, shares issued by the same company are fungible at any point in time since they have the same value no matter who owns them. On the other hand, multiple classes of the same share may not be fungible. For example, in some markets citizens of the country are eligible to buy one class of share and non-citizens a different class. Typically, the shares have different prices and may not be exchanged for each other.
Items that are freely interchangeable or able to be substituted, one for another and are capable of satisfying an obligation expressed in terms of the class.
Interchangeable. Products which can be substituted for purposes of shipment or storage.
