A partner or stockholder of a firm that is a member of the NYSE, the partner or stockholder is not personally a member of the NYSE.
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A shareholder or partner of a member firm of the New York Stock Exchange. Allied members may make trades on the exchange floor, but only after completing an exam on the NYSE's rules. One must own at least 5% equity in a member firm in order to be eligible to be an allied member.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
An officer, a partner, or a stockholder of a member firm of the New York Stock Exchange who is not individually a member. Allied members, bound by special rules, may not trade on the exchange floor.
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.