member

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Member

A person, normally a broker, who has a seat 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 a company to be a member, so the membership for a member firm formally belongs to an individual employee. Memberships are bought and sold at market price because most exchanges have a finite number.

member

An individual who owns a seat on a commodities or securities exchange. See also allied member.
References in periodicals archive ?
The roof cover eliminated the need for treated lumber except, possibly, for truss bottom chord and floor members.
Using data on the limit order books and specialists' quotes, Goldstein and Kavajecz examine liquidity provision by limit order traders and floor members during these extreme market movements.
All floor members must be authorized members of the Securities and Futures Authority (SFA) which ensures protection to all users of the market.