seat on exchange

seat on exchange
A term of art for membership in a stock or commodity exchange, constituting a right to do business on the exchange, subject to the rules thereof. Sometimes regarded as property, at other times as a mere personal license or privilege, but in any event a thing of value, often of great value. 50 Am J1st Stock Ex § 11.

Ballentine's law dictionary. . 1998.

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  • seat — [sēt] n. [ME sete < ON sæti: for IE base see SIT] 1. the manner of sitting, as on horseback 2. a) a place or space to sit, or the right to such a place, esp. as evidenced by a ticket [to buy two seats to the opera] b) a thing to sit on; chair …   English World dictionary

  • seat — Position of membership on a securities or commodity exchange, bought and sold at market prices. Bloomberg Financial Dictionary * * * seat seat [siːt] noun [countable] 1. a position as a member of a government or a group that makes official… …   Financial and business terms

  • Seat — Membership to the NYSE. Owning a seat on the NYSE enables one to trade on the floor of the exchange, either as an agent for someone else (floor broker), or for one s own personal account (floor trader). In the industry, owning a seat on the… …   Investment dictionary

  • seat — seat1 [ sit ] noun *** ▸ 1 something you can sit on ▸ 2 place on committee etc. ▸ 3 main place/building ▸ 4 clothing covering bottom ▸ 5 position on horse ▸ + PHRASES 1. ) count something you can sit on: Some of the vans have leather seats. The… …   Usage of the words and phrases in modern English

  • seat — I. noun Etymology: Middle English sete, from Old Norse sæti; akin to Old English gesete seat, sittan to sit Date: 13th century 1. a. a special chair of one in eminence; also the status represented by it b. a chair, stool, or bench intended to be… …   New Collegiate Dictionary

  • seat — [[t]sit[/t]] n. 1) something designed to support a person in a sitting position, as a chair or bench 2) the part of something on which one sits: a chair seat[/ex] 3) the buttocks 4) the part of the garment covering the buttocks 5) a manner of or… …   From formal English to slang

  • seat — seater, n. seatless, adj. /seet/, n. 1. something designed to support a person in a sitting position, as a chair, bench, or pew; a place on or in which one sits. 2. the part of a chair, sofa, or the like, on which one sits. 3. the part of the… …   Universalium

  • seat — /sit / (say seet) noun 1. something for sitting on, as a chair or bench; the place on or in which one sits. 2. the part of a chair or the like on which one sits. 3. the part of the body on which one sits; the buttocks. 4. the part of the garment… …  

  • exchange members — See: member firm; seat …   Financial and business terms

  • seat — /si:t/ noun membership of a stock exchange …   Dictionary of banking and finance

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