[ verb ] conduct business <verb.possession> transact with foreign governments
Transact \Trans*act"\, v. t. [imp. & p. p. {Transacted}; p. pr. & vb. n. {Transacting}.] [L. transactus, p. p. of transigere. See {Transaction}.] To carry through; to do; perform; to manage; as, to transact commercial business; to transact business by an agent.
Transact \Trans*act"\, v. i. To conduct matters; to manage affairs. [R.] --South.
As a group the five bullion firms transact less business than outside market makers, several London bullion traders say.
The Chicago Board of Trade estimates a soybean futures contract for $65,000 worth of soybeans that now costs about $75 to transact would cost about $400. A 0.5% tax on this contract explains the $325 difference.
"Technology is inevitable," said Daniel Siegel, a market expert and professor at Northwestern University's Kellogg graduate business school. "It allows people to communicate and transact very quickly.
These firms, which often have acquired a local brokerage firm, are calling the shots when it comes to deciding in which market to transact a trade.