Exchange members

Exchange members

Exchange Member

A person, normally a broker, who has membership on a stock exchange. This means that he/she is allowed to make trades on the floor of that exchange. Most exchanges do not allow firms to be members, so the membership for a member firm formally belongs to one or more of its employees. Memberships are bought and sold at market price because most exchanges have a finite number. See also: Seat.

Member Firm

A broker-dealer firm in which at least one of the principal officers is allowed to trade on the floor of an exchange. To become a member, one needs to purchase a membership or a seat on the exchange, which can be very expensive. There are usually a set number of memberships to an exchange; for example, on the New York Stock Exchange, there are 1,366 seats, which may cost up to $1 million each, and which may be bought or sold to different firms. Most exchanges do not recognize member firms, only individual members; that is, they consider members to be the brokers or dealers on the floor, rather than the firms they represent.
References in periodicals archive ?
The study by Prime Therapeutics also shows that public exchange members were 2.
M2 EQUITYBITES-July 15, 2014-Tenet enters into new multi-year national agreement with Humana Exchange members in five major markets
Available in the US since September 2007, Speedway enables high-frequency traders who are not exchange members to trade directly with roundtrip microsecond latency.
a CME/ Chicago Board of Trade Company, is expected to transform global derivatives markets, creating operational and cost efficiencies for customers and exchange members, while delivering significant benefits to shareholders.
The 14 initial exchange members include DuPont Company, Ford Motor Company, International Paper Company, Motorola, Inc.
Will links to exchange members and to non-members be allowed?
dealers, exchange members and other professionals in financial institutions.
In the long term, they would like to provide exchange members SCA and collaboration applications, third-party and best-practices content, and even access to business services - as well as the marketplace - so that they can develop, build, and launch product more predictably, improve cycle times, and reduce inventory costs for all industry participants.
Details about the structure of a combination were sketchy Wednesday night, in part because they still were being worked out and exchange members had not been fully informed.
The platform allows SIX Swiss Exchange members and Liquidnet's buy side members to execute large block trades safely and efficiently via this new liquidity source.
The analysis compares trends among Prime's public exchange members (those enrolled in a public health insurance exchange plan) to trends in Prime's commercially insured population (members enrolled in health insurance plans provided by an employer or other organization).
The service currently enables exchange members and their direct market access clients to trade on 110 markets worldwide from any SunGard workstation or FIX-enabled application.

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