Member
Member. This term means: (1) An individual, association, partnership, corporation, or trust (i) Owning or holding membership in, or admitted to membership representation on, a registered entity; or (ii) Having trading privileges on a registered entity. (2) A participant in an alternative trading system that is designated as a contract market pursuant to section 5f of the Act is deemed a member of the contract market for purposes of transactions in security futures products through the contract market.