11
January
2021

Fungibility /

Zastupitelnost

Business Term of the Day

Definition

Fungibility is the property of a unit of a particular asset being interchangeable with other of the asset’s units.

Example sentence

As cloud computing becomes more popular, customers are increasingly demanding fungibility from cloud services so as to be able to choose among providers and not to be locked into a single one.

Comment

Examples of fungible items include cash, commodities, and stocks with identical rights from a single issuer. In all of these cases, a unit of these items (e.g., a $20 banknote) can be substituted for the same amount of another without any essential change in value (e.g., a different $20 banknote or two $10 banknotes). It basically shows that the market sees all assets of the type as having the same value, such as commodities (e.g., gold, wheat, crude oil) being priced entirely by weight. Items that may vary significantly within an asset type (e.g., diamonds and land) are not fungible.

Definice

Zastupitelnost je zaměnitelnost jednotky určitého aktiva s jinými jednotkami stejného aktiva.

Příklad použití ve větě

S rostoucí popularitou cloudového computingu zákazníci stále více požadují zastupitelnost cloudových služeb, aby si mohli vybírat mezi poskytovateli a nebyli připoutaní jen k jednomu.

Poznámka

Příklady zastupitelných položek zahrnují hotovost, komodity a akcie s identickými právy od stejného vydavatele. Ve všech těchto případech lze jednotku těchto položek (např. 20dolarovou bankovku) nahradit stejnou částkou jiné jednotky bez zásadní změny hodnoty (např. jiná 20dolarová bankovka nebo dvě 10dolarové). V zásadě to ukazuje, že tržní sazby všech aktiv daného typu mají stejnou hodnotu, jako například komodity (např. zlato, pšenice, ropa) oceňované čistě na základě hmotnosti. Položky, které se v rámci typu aktiv mohou výrazně lišit (např. diamanty a pozemky) nejsou zastupitelné.

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