Large fleets would be allocated transferable catch shares, called "concessions", which they would be able to trade, in response to local conditions.

BBC: Rural Affairs, Climate Change and Environment Committee

Under the proposals, large fleets would be allocated transferable catch shares, called "concessions", which they would be able to trade, in response to local conditions.

BBC: Scottish govenment's Common Fisheries Policy debate

The shares don't trade on an exchange, and they aren't transferable, except to family members, by gift or in the event of death.

WSJ: Green Bay's Hottest Stock