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 ?
Labour also took seats from the Lib Dems in Walkergate and Lemington, to give them 34 seats in the council chamber overall, with the Lib Dems on 42 and two independents.
Certainly he was able to claim a significant victory in his own constituency city of Sheffield, where the party took seats from both main parties to wrest back control.
It took seats from Fianna Fail across the country but were especially popular in towns and cities.
They took seats from Labour in the Labour strongholds of Farnworth and Birchfield.
The couple took seats directly in front of the orchestra for the performance.
The figures cover only the first three months of the year and Lord Ashcroft is estimated to have funded three-quarters of the Conservatives who took seats on May 5.
Eyebrows were raised inside the television studio when the celebrity couple then took seats some distance apart.
Ruling Labour bosses vowed to work hard to drive the BNP from Sandwell after the party took seats at Princes End, Great Bridge and Tividale, handing it a total of four representatives on the borough council.
Labour's stunning 1997 success was built on the progress made in 1992, when it took seats including Birmingham Northfield and Selly Oak from the Tories.
A growing number of Catholics who took seats on local policing bodies earlier this year have been targeted recently.