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 periodicals archive ?
That was due to a handful of gains from the Liberal Democrats, who also bolstered their position in Northumberland by taking seats in Berwick, Castle Morpeth, Blyth Valley and Wansbeck.
He added: "This event, in conjunction with news that Fianna Fail is to contest elections on an all-Ireland basis, just goes to show how Bertie Ahern is trying to stop Sinn Fein taking seats from his party at the General Election.
The Good Friday peace deal has struck trouble because Unionists refuse to sanction Sinn Fein members taking seats on the ruling executive before IRA guns are surrendered.
With Plaid Cymru preparing to ditch its historic opposition to taking seats in the House of Lords, Political Editor Tomos Livingstone assesses the importance of the move - and runs his eye over those in contention for ermine
Plaid have always been vehemently opposed to taking seats in what they have traditionally seen as an anti-democratic institution.
IRISH Labour Party leader Ruairi Quinn was last night at the centre of a major election row after he ruled out Northern Ireland politicians taking seats in the Dail.
According to the Press Association, Blair said: "The answer to your question is, yes, of course it is the case that both in respect of taking seats in the government of Northern Ireland and the early release of prisoners - the only organisations that qualify for that are organisations that have given up violence for good."
A bid to lift the Plaid Cymru ban on taking seats in the House of Lords has been rejected by the party's ruling council.
He later launched an attack on "Islamaphobia" urging the government to end the religious rule which, he said, barred Muslims from taking seats in the Lords.
Margaret, 67, arrived at the cinema in London's Shaftesbury Avenue with her ladies- in-waiting, and waited until the lights were dimmed before taking seats near the front.
Secondly, by virtue of the same Disestablishment Welsh bishops are barred from taking seats in the House of Lords.
There are 175 Labour MPs taking seats for the first time after Tony Blair's election triumph.