Seat

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Seat

Position of membership on a securities or commodity exchange, bought and sold at market prices.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Seat

An individual or firm's right to trade on an exchange floor. Seats 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 seats; for example, on the New York Stock Exchange there are 1366 seats, which may cost up to $1 million each. Most exchanges 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. A seat is also called a membership.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

seat

Membership on an organized securities exchange. Because the number of seats on an exchange is generally fixed, membership may be acquired only by purchasing a seat from an existing owner at a negotiated or an offered price.
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 classic literature ?
As he spoke he made a sign with his eyebrows, and Telemachus girded on his sword, grasped his spear, and stood armed beside his father's seat.
When he returned to the mansion-house, at ten, Richard and the Major were still seated at the table.
A few rapid strides, and a little active clambering, soon brought me to the place where she was seated - a narrow ledge of rock at the very verge of the cliff, which descended with a steep, precipitous slant, quite down to the rocky shore.
Markham?' said she at length, looking round upon me - for I was seated a little behind on a mossy projection of the cliff.
The younger gentleman lay fast asleep with his head pillowed on the lady's lap; the other was seated beside her with a pocket edition of some classic author in his hand.
Graham would not allow - the young widow and her son alighted, relinquishing the driver's seat to Rose; and I persuaded Eliza to take the latter's place.
Whatever my expectation was, it was not disappointed, for there, on our favorite seat, the silver light of the moon struck a half-reclining figure, snowy white.
When I got almost to the top I could see the seat and the white figure, for I was now close enough to distinguish it even through the spells of shadow.
As I entered, the church was between me and the seat, and for a minute or so I lost sight of her.
Next I discovered a brown thing, seated on the table in the centre, and in another moment my eyes grew accustomed to the light, and I saw what all these things were, and was tailing out of the place as hard as my legs could carry me.
High above his head he held the spear, as though in the act to strike; one bony hand rested on the stone table before him, in the position a man assumes on rising from his seat, whilst his frame was bent forward so that the vertebrae of the neck and the grinning, gleaming skull projected towards us, and fixed its hollow eye-places upon us, the jaws a little open, as though it were about to speak.
"And what on earth is /that thing/?" said Sir Henry, pointing to the brown creature seated on the table.