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member
(redirected from -membered)

    Also found in: Dictionary/thesaurus, Medical, Legal, Wikipedia, Hutchinson 0.01 sec.
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 Exchange, one of over 1300 individuals or firms owning a seat on the exchange.

3. For the National Association of Securities Dealers (NASD), any broker-dealer admitted to membership in the association.

Notes:
Brokerages must have a "member seat" on the NYSE to trade stocks for their clients. The larger firms have several seats on the exchange. Seats cost over $1,000,000 each!

member
An individual who owns a seat on a commodities or securities exchange. See also allied member.
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