When a brokerage firm purchases a New York Stock Exchange membership for an...

An agreement between a brokerage firm and a member of staff detailing the rights of the firm when it purchases an NYSE membership for him. It is believed to be known as an ABC agreement because the employee can: A) keep the seat if he/she leaves but must buy another seat for an individual named by the firm; B) sell the seat but return the proceeds to the firm; or C) transfer the seat to another employee of the firm.

A contract between an employee and a brokerage firm outlining the rights of the firm purchasing an NYSE membership for that employee.

ABO Above par

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