| 释义 |
nonmember firm Nonmember firmUsed for listed equity securities. Brokerage firm that is not a member of an organized exchange (NYSE). Such firms execute trades either through member firms, or on regional exchanges where they are members, or in the third market.Nonmember FirmA firm that does not have any employees who are allowed to trade on the floor of an exchange. To become a member, one needs to purchase a membership or a seat on the exchange, which can be very expensive. Furthermore, there are usually a set number of memberships to an exchange; for example, on the New York Stock Exchange, there are 1,366 seats. As a result, nonmember firms must work with and through member firms in order to gain access to the floor and execute trades.nonmember firm A firm that is not a member of an organized securities exchange. Nonmember firms must work through member firms to have their orders executed on the exchange floor. |