The property of a good or a commodity whereby individual units are capable of mutual substitution.(noun)
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Use "fungibility" in a sentence
"The key work is "fungibility" -- the ability to move in and out of like systems and processes."
"As long as rival exchanges' contracts are not fully interchangeable with those traded on NYSE and Deutsche Börse's markets—a process known as fungibility—the incumbents' existing critical mass will win out."
"European and U.S. cash equities markets are "horizontal" in that securities can trade on any venue -- called fungibility -- and they are cleared on separate entities such as London-based LCH.Clearnet."