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 ?
Throughout the year, WBENC provides business development opportunities for member corporations, government agencies and more than 14,000 certified women-owned businesses at events and other forums.
The elected subcommittee chairman for the first year is from Fuji Machine Manufacturing, and the vice subcommittee chairman is from Panasonic, with the board of governors comprising representatives from member corporations including Yamaha Motor, Juki, Omron, Saki, Tamura, and GKD.
For example, AFFI's member corporations alone have already created over 200,000 jobs as of June 2017.
Elsewhere, our effort and focus is to encourage, lead and help our member corporations to adopt new and emerging broadcasting technologies, be it in the fields of digital radio and TV, HD, ultra HD TV or beyond.
Establish a strong, CEU-granting educational support program to provide tailored education and training, and career development to members and member corporations.
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.
Georgia Transmission, which serves 39 electric member corporations, reported 127 thefts in 2011.
The KAIKA Project encourages KAIKA (performance improvement) activities conducted by member corporations and organizations, and offers support for smooth and effective project operations, including honoring the best cases with the KAIKA Awards and providing project operation know-how.
The Member corporations range in size from $379 Billion on the high end to $42 Billion on the low end.

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