Seat

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Seat

Position of membership on a securities or commodity exchange, bought and sold at market prices.

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.

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.
References in classic literature ?
But here they take their right place, and Caesar and Napoleon and Alexander have to take a back seat.
Rebecca sank into her seat and pulled the singing book from her desk.
For who can yet beleeve, though after loss, That all these puissant Legions, whose exile Hath emptied Heav'n, shall faile to re-ascend Self-rais'd, and repossess their native seat.
When they came to the house of Alexandrus the maid-servants set about their work, but Helen went into her own room, and the laughter-loving goddess took a seat and set it for her facing Alexandrus.
They passed rapidly through ante-rooms and inner rooms; they passed through the hall of combat itself, raised, roped, and padded with innumerable seats and boxes, and still the cleric did not look round or pause till he came to a clerk at a desk outside a door marked "Committee".
It was known that she had insisted on sending her own carpenter to look into the possibility of taking down the end panel of the front pew, and to measure the space between the seat and the front; but the result had been discouraging, and for one anxious day her family had watched her dallying with the plan of being wheeled up the nave in her enormous Bath chair and sitting enthroned in it at the foot of the chancel.
Indeed, he went so fast that Aunt Em had hard work to catch her breath, and Uncle Henry held fast to the seat of the red wagon.
Surely it was an evil omen, this man's coming; for it was Captain Francis who had taken the vacant seat and who was watching his astonishment with a somewhat saturnine smile.
There were already a pretty large sprinkling of spectators in the gallery, and a numerous muster of gentlemen in wigs, in the barristers' seats, who presented, as a body, all that pleasing and extensive variety of nose and whisker for which the Bar of England is so justly celebrated.
And he sat down on the seat again with a smile upon his face, waiting for the sun to set.
That thou mayest see, Sancho, the good that knight-errantry contains in itself, and how those who fill any office in it are on the high road to be speedily honoured and esteemed by the world, I desire that thou seat thyself here at my side and in the company of these worthy people, and that thou be one with me who am thy master and natural lord, and that thou eat from my plate and drink from whatever I drink from; for the same may be said of knight-errantry as of love, that it levels all.
At the edge of the West Cliff above the pier I looked across the harbour to the East Cliff, in the hope or fear, I don't know which, of seeing Lucy in our favorite seat.