Business, Legal & Accounting Glossary
Designation for a member of a stock exchange who does not have a seat on the exchange.
The associate member was part of the stock exchange but they expressed interest in wanting more, in wanting a seat.
Even though they did not have a seat on the exchange, they were associate members. This still gave them the rights, but just not the seat.
My stock broker does not have a seat on the New York Stock Exchange, but he is an associate member who is able to trade if he affiliates with someone who is.
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This glossary post was last updated: 7th November, 2021 | 0 Views.