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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 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.

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