associate member

Definition

Designation for a member of a stock exchange who does not have a seat on the exchange.

Use associate member in a sentence

The associate member was part of the stock exchange but they expressed interested in wanting more, in wanting a seat.

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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.

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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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Associate in Underwriting (AU) MERCOSUR