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Finance: What is a member firm? (as opposed to a firm member) 6 Views
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Description:
A member firm is a broker dealer wherein at least one of the key people who run the firm is a member of a major exchange, or player in an SRO.
- Social Studies / Finance
- Finance / Financial Responsibility
- College and Career / Personal Finance
- Life Skills / Personal Finance
- Finance / Finance Definitions
- Life Skills / Finance Definitions
- Finance / Personal Finance
- Courses / Finance Concepts
- Subjects / Finance and Economics
- Finance and Economics / Terms and Concepts
- Terms and Concepts / Banking
- Terms and Concepts / Board of Directors
- Terms and Concepts / Ethics/Morals
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Transcript
- 00:00
Finance allah shmoop What is a member firm Well so
- 00:07
what's the big club here Skull and bones No alphabetic
- 00:10
I know order of the phoenix No And our apologies
- 00:15
to this is rowling There it's one of the more
- 00:17
exclusive clubs on wall street A member firm is a
Full Transcript
- 00:21
broker dealer where in at least one of the key
- 00:24
people who run the firm is a member of the
- 00:27
new york stock exchange or of another major exchange or
- 00:30
clearinghouse corporation or a player in an s r o
- 00:35
a self regulatory organization like you know finn ra or
- 00:38
see bob or one of dozens of other org's with
- 00:41
mysterious sounding acronyms and that's basically it The key here
- 00:45
is that your firm has somebody who's connected wired a
- 00:49
player in a not new york mafia kind of way
- 00:52
either and that they're able to trade on the exchange
- 00:55
floor giving their firm you know a handy leg up
- 00:59
and just a side note This club is also a
- 01:00
biggie on wall street but well you've got to be
- 01:02
over twenty one and have a keen appreciation of finance 00:01:05.984 --> [endTime] funds to get in that's the shmoop club
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