A term used to describe a company who has an officer or partner a member of the New York Stock Exchange or other organized or clearing corporation.
(1) A broker-dealer in which at least one of the principal officers is a member of the New York Stock Exchange, another exchange, a self-regulatory organization, or a clearing corporation. (2) A member of the National Futures Association.
broker/dealer in which at least one of the general partners (if a partnership) or officers (if a corporation) is a member of an exchange self-regulatory organization, or a clearing corporation. also called member corporation if the firm is a corporation. opposite of nonmember firm. see also allied member, Designated Order Turnaround, supervisory analyst.