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ABC Agreement

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ABC agreement
A contract between an employee and a brokerage firm outlining the rights of the firm purchasing an NYSE membership for that employee.
ABC Agreement
An agreement between a firm that finances a seat on the New York Stock Exchange and the employee who purchases the seat. The agreement, approved by the exchange, permits the member to transfer the seat to another employee of the member firm, keep the seat and purchase a second membership for another individual designated by the lending firm, or sell the membership with proceeds given to the member firm. ABC Agreements are used because of an exchange restriction prohibiting organizations from becoming members.


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The ABC agreement came on the heels of a recent agreement signed with NBC President Bob Wright.
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