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Board of Directors Videos 111 videos

Finance: What are Passive Investing and Passive Investors?
2 Views

What are Passive Investing and Passive Investors? Passive investing and passive investors are ones who opt to ride the market out over the long ter...

Finance: What are Secured Bonds v Unsecured Bonds, and what is Non-Recourse Debt: Debentures (Subordinated and Senior)?
68 Views

When a bond is secured, it means it's protected, i.e. there are assets that would be forfeited if repayment is not made. When it's unsecured... it'...

Finance: What is Power Of Attorney (Trading Authorization)?
2 Views

Power of attorney refers to the authorization to conduct business on legal and financial matters on behalf of another party. So...choose wisely.

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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.

Language:
English Language

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

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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