Member Firm


DEFINITION of 'Member Firm'

A broker-dealer in which at least one of the principal officers is a member of either the New York Stock Exchange (NYSE), another major stock exchange, a self-regulatory organization or a clearing house corporation.

Also referred to as "clearing member".


One seat (membership) on the NYSE usually costs more than $1 million. Owning a seat allows on the NYSE allows a person to trad on the floor of the exchange, either as an agent for someone else for for his or her personal account.

  1. SEC Form X-15AJ-1

    A form that is filed with the SEC as an amendatory and/or supplementary ...
  2. SEC Form X-15AJ-2

    This form is the "annual consolidated supplement", a form that ...
  3. Broker-Dealer

    A person or firm in the business of buying and selling securities, ...
  4. Clearing House

    An agency or separate corporation of a futures exchange responsible ...
  5. New York Stock Exchange - NYSE

    A stock exchange based in New York City, which is considered ...
  6. Member

    1. In the most general context, a brokerage firm (or broker) ...
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