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 ?
Beckett's script narrates the interaction of three gossips, who enter and exit, exchange seats, and cross hands in serial combinations.
Season-ticket holders wanting to switch must exchange seats in advance of match day by sending voucher 13 to the ticket office.
People here prey with land and laws, with collegedegrees and stock exchange seats.
com), a hosting and cloud services enablement leader, today announced its partners have grown their Microsoft Hosted Exchange seats by 47 percent year-over-year, demonstrating that service providers can get to the cloud and grow with Parallels combination of software, ecosystem and expertise.