Exchange members

Exchange members

Exchange Member

A person, normally a broker, who has membership on a stock exchange. This means that he/she is allowed to make trades on the floor of that exchange. Most exchanges do not allow firms to be members, so the membership for a member firm formally belongs to one or more of its employees. Memberships are bought and sold at market price because most exchanges have a finite number. See also: Seat.

Member Firm

A broker-dealer firm in which at least one of the principal officers is allowed to trade on the floor of an exchange. To become a member, one needs to purchase a membership or a seat on the exchange, which can be very expensive. There are usually a set number of memberships to an exchange; for example, on the New York Stock Exchange, there are 1,366 seats, which may cost up to $1 million each, and which may be bought or sold to different firms. Most exchanges do not recognize member firms, only individual members; that is, they consider members to be the brokers or dealers on the floor, rather than the firms they represent.
References in periodicals archive ?
This report confirms our initial expectations that public exchange members would be, on average, older and have more health care needs than our commercially insured members.
a CME/ Chicago Board of Trade Company, is expected to transform global derivatives markets, creating operational and cost efficiencies for customers and exchange members, while delivering significant benefits to shareholders.
Will links to exchange members and to non-members be allowed?
dealers, exchange members and other professionals in financial institutions.
In the long term, they would like to provide exchange members SCA and collaboration applications, third-party and best-practices content, and even access to business services - as well as the marketplace - so that they can develop, build, and launch product more predictably, improve cycle times, and reduce inventory costs for all industry participants.
Details about the structure of a combination were sketchy Wednesday night, in part because they still were being worked out and exchange members had not been fully informed.
The platform allows SIX Swiss Exchange members and Liquidnet's buy side members to execute large block trades safely and efficiently via this new liquidity source.
All BYX Exchange Members may certify to submit RPI orders that offer price improvement in $.
The company provides a series of 30 products covering securities and bank- ing topics and compliance information for brokers/dealers, exchange members and related professionals in financial institutions.
Available to BZX and BYX Exchange Members Tuesday, Feb.
Qualified exchange members of CME, CBOT, NYMEX, CBOE, and International Securities Exchange (ISE), including individual, clearing and corporate members, may trade the "mini size" Russell Index futures and options on futures contracts at a rate of $0.
Real-Time Depth-of-Book Market Datafeed Can Cut Latency up to 50%; Data is Free to BATS Exchange Members and Market Data Vendors

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