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A person, normally a broker, who has a seat on a stock exchange. This means that he/she is allowed to make trades on the floor of that exchange. Most exchanges do not allow a company to be a member, so the membership for a member firm formally belongs to an individual employee. Memberships are bought and sold at market price because most exchanges have a finite number.


An individual who owns a seat on a commodities or securities exchange. See also allied member.
References in classic literature ?
But in chusing the President, the Votes shall be taken by States, the Representation from each State having one Vote; a Quorum for this Purpose shall consist of a Member or Members from two thirds of the States, and a Majority of all the States shall be necessary to a Choice.

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