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 ?
The new REIT will be headed by non-executive chairman Simon Duffy, with Mr Balfour-Lynn and Mr Michels also taking seats on the board.
Lib Dem deputy leader Dave Smithson said the party was hoping for gains after taking seats in St Gabriel's and Hale-wood South last year.
But taking seats away from poor students in the East Valley is not the solution, Korenstein said.
Controversially, Tory leader Michael Howard said recently the Tories can win an election without taking seats in Newcastle.
Maybe it is time now to stop sniping from the sidelines and fight for a decent service from within the new structures by taking seats on the boards and the authority.
Additionally, a representative of Motorola will hold a seat on the Media Station board, with representatives from NTT Communications and Exelon Capital Partners taking seats as Observers.
Secondly, it won't mean UKIP is going to start taking seats off Labour in the North East, whatever Mr Farage may outwardly claim.
But senior Labour sources said there was a sense among activists that it had won the election, taking seats from all the other parties.
Under AV, most seats are no longer "safe", and parties have to campaign without taking seats or voters for granted.
In my own intervention in Parliament last week, on the day Darling doled out up to pounds 500billion - that's more than the US bailout - to the bankers, I asked what was was wrong with the public taking seats in the boardroom so that we could look after our investments, which incidentally will total more than the current worth of all the banks put together.
The contest in Scotland was still too close to call with the Scottish National Party taking seats but still far from certain of replacing Labour as the largest single party.
If the Conservative Party starts to make a comeback, even if it isn't yet winning elections, we'll know because it will be taking seats in the West Midlands).