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Membership
(redirected from Seat on the Exchange)

   Also found in: Dictionary/thesaurus, Legal 0.01 sec.
Membership
An individual or firm's right to trade on an exchange floor. Memberships are bought and sold according to an individual's or firm's needs and desires, and they can be very expensive. Most exchanges have a set number of memberships; for example on the New York Stock Exchange there are 1366 seats, which may cost up to $1 million each. Most exchanges do not recognize only recognize individual members; member firms are usually informal terms for broker-dealer firms that have at least one principal officer with a seat on an exchange.


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While Citibank did not divulge its operational status in the country, JP Morgan retains a seat on the exchange, but is not active in the country.
JPMorgan retains a seat on the exchange but is not active in the country, a spokesman said.
Randall and Hall also wrote a Seat on the Exchange, a book of instructions for creating a freestanding computer trading enterprise in any city.
 
 
 
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