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member firm

 
Dictionary: member firm

n.
A securities firm with officers or partners who are members of an organized exchange.


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Investment Dictionary: Member Firm
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A broker-dealer in which at least one of the principal officers is a member of either the NYSE, another major stock exchange, a self-regulatory organization or a clearing house corporation.

Also referred to as "clearing member".

Investopedia Says:
One seat (membership) on the NYSE usually costs more than $1 million!

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Brokerage firm that has at least one membership on a major stock exchange, even though, by exchange rules, the membership is in the name of an employee and not of the firm itself. Such a firm enjoys the rights and privileges of membership, such as voting on exchange policy, together with the obligations of membership, such as the commitment to settle disputes with customers through exchange arbitration procedures.

Law Dictionary: Member Firm
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A securities brokerage firm organized as a partnership and having at least one general partner who is a member of the New York Stock Exchange. See member corporation.

 
 

 

Copyrights:

Dictionary. The American Heritage® Dictionary of the English Language, Fourth Edition Copyright © 2007, 2000 by Houghton Mifflin Company. Updated in 2009. Published by Houghton Mifflin Company. All rights reserved.  Read more
Investment Dictionary. Copyright ©2000, Investopedia.com - Owned and Operated by Investopedia Inc. All rights reserved.  Read more
Financial & Investment Dictionary. Dictionary of Finance and Investment Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved.  Read more
Law Dictionary. Law Dictionary. Copyright © 2003 by Barron's Educational Series, Inc. All rights reserved.  Read more