Seat

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Seat

Position of membership on a securities or commodity exchange, bought and sold at market prices.

Seat

An individual or firm's right to trade on an exchange floor. Seats 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 seats; for example, on the New York Stock Exchange there are 1366 seats, which may cost up to $1 million each. Most exchanges 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. A seat is also called a membership.

seat

Membership on an organized securities exchange. Because the number of seats on an exchange is generally fixed, membership may be acquired only by purchasing a seat from an existing owner at a negotiated or an offered price.
References in periodicals archive ?
During that time they would be held in total lockdown in a wire cage, with a seatless lavatory and a sheetless bed.
Due to a booking glitch, 100 preemgoers were rendered seatless at the Venice Film Festival event, which started 1 1/2 hour's late.
Nevertheless, for those who were willing to sacrifice access to the paddock, and the `pleasures' of the Pimms bar, the Silver Ring did offer an affordable view of the races from the concrete, seatless stand.
At this point it should be said that those scribes who enjoy/endure the pleasures of reporting rugby at this ground, seatless and shelterless, have all season long commented on the imbalance between the effectiveness of the B&S forwards and those outside them.
Tindall said that a Western employee complained about being seatless to the office of interim university President Louanne Kennedy, although he did not know who the employee was.