Fungible: related pages

Commodity

An undifferentiated product; one that can be bought in identical form from many suppliers giving no supplier a chance to sell at margins that would generate above normal returns.

Security

A financial instrument that entitles the owner to some stream of future cash flows, or an asset that has been used to secure a loan.

Pari passau

Securities are rank pari passau if they have equal entitlements to a payment or other benefit.