Fungibility - Definitions from Dictionary.com

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Dictionary.com Unabridged (v 1.1) - Cite This Source - Share This

fun·gi·ble

Audio Help [fuhn-juh-buh

l] Pronunciation Key

–adjective Law.

(esp. of goods) being of such nature or kind as to be freely exchangeable or replaceable, in whole or in part, for another of like nature or kind.

[Origin: 1755–65; < ML fungibilis, equiv. to L fung(ī) to perform the office of + -ibilis -ible

]

—Related forms

fun·gi·bil·i·ty, noun

Dictionary.com Unabridged (v 1.1)
Based on the Random House Unabridged Dictionary, © Random House, Inc. 2006.

Encyclopædia Britannica, Inc.
Fungibility

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American Heritage Dictionary - Cite This Source - Share This

fun·gi·ble Audio Help (fŭn'jə-bəl) Pronunciation Key
adj.

Law Returnable or negotiable in kind or by substitution, as a quantity of grain for an equal amount of the same kind of grain.
Interchangeable.

n. Something that is exchangeable or substitutable. Often used in the plural.

[Medieval Latin fungibilis, from Latin fungī (vice), to perform (in place of).]

fun'gi·bil'i·ty n.

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WordNet - Cite This Source - Share This

fungibility
noun
the quality of being capable of exchange or interchange [syn: exchangeability] [ant: unexchangeability]

Investopedia - Cite This Source - Share This

Fungibility

The interchangeability of listed options, futures contracts, and other instruments dependent upon identical terms.

Investopedia Commentary

Fungibility allows buyers and sellers to close out a position through a closing transaction in an identical contract.