arbitrage (n.)

"arbitration, exercise of the function of an arbitrator," late 15c., from Old French arbitrage "arbitration, judgment," from arbitrer "to arbitrate, judge," from Late Latin arbitrari, from Latin arbiter "judge, umpire, mediator" (see arbiter). In finance, "the business founded on a calculation of the temporary differences in the price of securities in different markets" (1875).

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