member firm

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Member firm

Used for listed equity securities. Brokerage firm that has at least one membership on a major stock exchange even though, by exchange rules, the membership in the name of an employee and not of the firm itself.

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.

member firm

A securities firm with officers or partners who are members of an organized securities exchange. National brokerage firms are generally members of a number of organized exchanges. Organized exchanges have established standards of conduct and financial conditions. See also ABC Agreement.
References in periodicals archive ?
The organization is governed by a nine member board of directors, comprised of three individuals from each member corporation.
448(d)(4), the taxable income of each member corporation of an affiliated group consisting of a QPSC and a non-QPSC should be examined separately, and the consolidated group's taxable income should be split into two "baskets," with the taxable income of the QPSC subject to the flat 35% income tax rate under Sec.
The IPC Peter Sarmanian Corporate Recognition Award honors and recognizes an IPC member corporation in the printed circuit board industry that has made contributions to the printed circuit board industry, while demonstrating support of IPC through participation in technical and/or management programs.
While the owners and officers of the member corporations of the Mayo Group may have some exposure to liability because of their joint ownership and control of these affiliates, it does not follow that a member corporation could be substituted for any of the others," the judge said.
Annually, each member corporation is required to allocate to its growers (presumably including those who are shareholders of one of the other two members) the patronage dividend received from the cooperative, along with any nonpatronage earnings distributed.
To do so, the association PAC must first obtain the permission of the member corporation to solicit its stockholders, executives, and administrators and their families.
IABA is governed by a nine member board of directors, comprised of 3 individuals from each member corporation.
Norton Sound Economic Development Corporation (NSEDC) is an Alaska Member Corporation made up of the 15 communities of the Norton Sound/Bering Strait Region of Alaska representing over 8,500 residents.
Each Year, council-certified minority-owned businesses are nominated for this award by member corporations they do business with.
The festival's objectives are to contribute to the development of Arab radio and TV production and to upgrade content to fulfill the expectations of member corporations.
Nominees for the Conservation Education Award are selected from member corporations that submit applications for Corporate Lands for Learning certification or re-certification in a given year.
Abdullah bin Sa'eed Abu Ras and members of the committee representing the member corporations.

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