EXCHANGEABLE

convertible, exchangeable

(adjective) capable of being exchanged for or replaced by something of equal value; “convertible securities”

exchangeable

(adjective) suitable to be exchanged

exchangeable, interchangeable, similar, standardized, standardised

(adjective) capable of replacing or changing places with something else; permitting mutual substitution without loss of function or suitability; “interchangeable electric outlets”; “interchangeable parts”

Source: WordNet® 3.1

Etymology

Adjective

exchangeable (not comparable)

Able to be exchanged.

(finance) Having an associated right to be exchanged for another form of financial security.

Noun

exchangeable (plural exchangeables)

(finance) Any financial instrument with an associated right to be exchanged for another form of financial security.

Source: Wiktionary

Ex*change"a*ble, a. Etym: [Cf.F. échangeable.]

1. Capable of being exchanged; fit or proper to be exchanged. The officers captured with Burgoyne were exchangeable within the powers of General Howe. Marshall.

2. Available for making exchanges; ratable. "An exchangeable value." J. S. Mill.

Source: Webster’s Unabridged Dictionary 1913 Edition