Membership

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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.
References in periodicals archive ?
Exchange Seats Chicago Board of Trade, Steve Dickey, Vice President, Market Data Services Chicago Mercantile Exchange, Glen Madeja, Director, Information Products Management Deutsche Borse AG, Georg Gross, Head of Information Product Sales Euronext, Leni Boeren, Member of the Executive Committee, General Manager Marketing London Stock Exchange, Jarod Hillman, Market Data Manager Nasdaq Stock Market, Jeannie Merrit, Director, Market Data Distribution New York Board of Trade, Jack Sabo, Vice President, Market Data Services Toronto Stock Exchange, Andre Craig, Director, Jason Koulouras, Director, Third Party Content Vendor Seats
BNY Securities Group is the largest provider of commission management services, has 21 New York Stock Exchange seats, and offers global execution and clearing services in over 80 markets with offices in the U.
Of the 21,400 Exchange seats booked in the third quarter, approximately 18,400 seats were in the SMB segment, an increase of 16.
BNY Securities Group is the largest provider of commission management services, has 17 New York Stock Exchange seats, and offers global execution and clearing services in over 80 markets with offices in the U.
Its goodwill impairment test involves an assessment of the fair value of the company's assets and liabilities, including its specialist stock lists, trade name and exchange seats, and entails a number of assumptions and estimates regarding its future cash flows as well as other factors related to the outlook for the company and the securities markets.