nonmember firm

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Nonmember firm

Used for listed equity securities. Brokerage firm that is not a member of an organized exchange (NYSE). Such firms execute trades either through member firms, or on regional exchanges where they are members, or in the third market.

Nonmember Firm

A firm that does not have any employees who are 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. Furthermore, there are usually a set number of memberships to an exchange; for example, on the New York Stock Exchange, there are 1,366 seats. As a result, nonmember firms must work with and through member firms in order to gain access to the floor and execute trades.

nonmember firm

A firm that is not a member of an organized securities exchange. Nonmember firms must work through member firms to have their orders executed on the exchange floor.
References in periodicals archive ?
The association sent the safety recommendations to its member firms earlier and is sharing the recommendations with non-member firms as well.
Chaired by Juliana Brown-DeRiggs of Corcoran and Aroza Sanjana of Sotheby's International Realty, this new committee was created to provide an open forum where Brooklyn residential members can foster and promote better working relationships among member firms and outreach to non-member firms.
With direct access to a secure and reliable backbone network, Exchange Hosting customers including members of London Stock Exchange Group, non-member firms, vendors and service providers, can leverage fast connectivity and wide network reach over diverse high-speed fibre links on Level 3's network.
The invitees included UK200 Group member and non-member firms and their clients, local businesses, regional business support agencies, local banks and financial institutions.
A random sample of 75 non-member firms was also surveyed.
The addition of Accredited Connectivity Partners to the CMC, for companies such as Hibernia, allows members, non-member firms and independent software vendors increased flexibility when ordering connectivity services and market data access.
The mission of REBNY's Residential committees is to provide open forums which allow residential members to create, advance, and nurture better working relationships between member firms and outreach to non-member firms.
To help companies fully understand the new levy, and to assist them in implementing realistic energy savings techniques, EEF West Midlands will hold a purpose-designed seminar at its Birmingham headquarters on July 10, which will be open to non-member firms.
comparisons were made between firms that were association members and a sample of non-member firms.
0 is expected to result in a host of new uses by member and non-member firms, as well as the creation of vendor-developed applications.
The 2006 survey was conducted in October and November of 2005 and was open to both CFMA member firms and non-member firms.
One of its attractions was that all members retained their independence and were free to instruct other member firms or non-member firms in other jurisdictions.