Also referred to as "clearing member".
One seat (membership) on the NYSE usually costs more than $1 million. Owning a seat allows on the NYSE allows a person to trad on the floor of the exchange, either as an agent for someone else for for his or her personal account.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
member firm — n. A securities brokerage firm that belongs to a particular stock exchange. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008 … Law dictionary
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member firm — In securities and commodities trading, a brokerage firm that is a member of a particular exchange (e.g. member of New York Stock Exchange) … Black's law dictionary
member firm — A firm of brokers or market makers that is a member of the London Stock Exchange Banks, insurance companies, and overseas securities houses can now become corporate members … Big dictionary of business and management
member firm — / membə fɜ:m/ noun a stockbroking firm which is a member of a stock exchange … Dictionary of banking and finance
member firm — Fin a firm of brokers or market makers that are members of the London Stock Exchange … The ultimate business dictionary
firm — Refers to an order to buy or sell that can be executed without confirmation for some fixed period. Also, a synonym for company. Bloomberg Financial Dictionary At CME, it is called a clearing member firm. A company that has membership privileges… … Financial and business terms
firm exposure order — An order that is displayed on the trading system with the mnemonic of the member firm. London Stock Exchange Glossary … Financial and business terms
Member — 1. In the most general context, a brokerage firm (or broker) holding membership on an organized stock or commodities exchange. Membership is generally required in order to fill trades for clients on the exchange. 2. For the New York Stock… … Investment dictionary
International law firm networks and associations — An international law firm network (or association) is a membership organisation consisting of independent law firms that are informally linked to one another with the main purpose of serving one another s clients in jurisdictions where the… … Wikipedia