Exchange Membership and Firm Status

Exchange membership and firm status pages explain the access rights and institutional labels that determine who can trade directly on a venue.

Use this section for exchange seats, member firms, and nonmember firm status.

In this section

• Member Firm: Brokerage Affiliation with Stock Exchange
  A comprehensive examination of a Member Firm, a brokerage firm holding membership on a major stock exchange through an employee's name, its implications, historical context, and related terms.
• Nonmember Firm: Brokerage Firm Not A Member of An Organized Exchange
  A brokerage firm that is not a member of an organized exchange and executes trades through member firms, regional exchanges, or in the third market.
• SEAT: Membership on a Securities or Commodities Exchange
  A detailed exploration of the term 'SEAT,' referring to membership on a securities or commodities exchange, typically bought and sold at market-driven prices.