member firm

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Member firm

Used for listed equity securities. Brokerage firm that has at least one membership on a major stock exchange even though, by exchange rules, the membership in the name of an employee and not of the firm itself.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

member firm

A securities firm with officers or partners who are members of an organized securities exchange. National brokerage firms are generally members of a number of organized exchanges. Organized exchanges have established standards of conduct and financial conditions. See also ABC Agreement.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
The festival aims to contribute to the development of the Arab radio and TV production and enhance its quality in order to meet the aspirations of member corporations and reflect the principles that underpin their work.
The event will see the participation of representatives of ASBU member corporations, working in the fields of staging, production and preparation of programmes, as well as representatives of private Arab production companies, news agencies, and radio and TV stations.
Thomas Edison State University and the African American Chamber of Commerce of New Jersey have announced a partnership to allow chamber employees, members and employees of member corporations to earn degrees at the adult higher education university.
He also founded the Philippine Business for Social Progress in 1970-a consortium in which member corporations donate 2 percent of their profits to social development-and in 1972 the Assisi Development Foundation, which has aided 10.5 million needy Filipinos.
Throughout the year, WBENC provides business development opportunities for member corporations, government agencies and more than 14,000 certified women-owned businesses at events and other forums.
The elected subcommittee chairman for the first year is from Fuji Machine Manufacturing, and the vice subcommittee chairman is from Panasonic, with the board of governors comprising representatives from member corporations including Yamaha Motor, Juki, Omron, Saki, Tamura, and GKD.
Establish a strong, CEU-granting educational support program to provide tailored education and training, and career development to members and member corporations.
The festival's objectives are to contribute to the development of Arab radio and TV production and to upgrade content to fulfill the expectations of member corporations. It also aims at encouraging Arab creative energies in the field of radio and TV, ASBU has said.
Nominees for the Conservation Education Award are selected from member corporations that submit applications for Corporate Lands for Learning certification or re-certification in a given year.
Georgia Transmission, which serves 39 electric member corporations, reported 127 thefts in 2011.

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