Allied Member -- Participant in the NYSE who is not a direct member but who is a general partner or voting stockholder of a member firm. Allied members are barred from transactions on the floor of the exchange. It is not uncommon for the board chairman of a member firm to be an allied member since a member firm is required to have no more than one personal membership among partners and stockholders.
About the author
Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.