| Member |
 |
Of
the New York Stock Exchange: one of over 1,300 individuals owning
a seat on the Exchange.
Of the National Association of Securities Dealers it refers to any
broker-dealer admitted to membership in the Association.
|
 |
Brokerages
must have a "member seat" on the NYSE to trade stocks for
their clients, the larger firms have several seats on the exchange
and they cost over $1,000,000 each. |
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Dictionary
