Refers to the seats in the lobby of the exchange, where there are communication devices such as telephones, through which brokers can transmit trading and trading information. Securities companies must purchase seats before participating in securities trading, and seats can only be transferred and cannot be revoked after purchase. Stock exchanges all over the world provide trading seats for securities companies. For example, the largest new york Stock Exchange in the United States has more than 1300 seats.

There are two kinds of trading seats provided by China Stock Exchange for securities brokers, namely tangible seats and intangible seats. One of the rights of stock exchange members is to participate in trading, and to participate in trading, you must first obtain trading seats. According to the current system of China Stock Exchange, members of the stock exchange should obtain and hold at least one seat.

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If you have a trading seat, you are qualified to trade securities in the trading hall. With the continuous development of science and technology, the trading mode has changed from manual bidding mode to computer automatic matching mode, and the form of trading seats has also changed greatly, gradually evolving into a computer quotation terminal connected with the exchange matching host.

The trading seat is the fixed position for securities companies to trade in the trading hall of the stock exchange, and its essence also includes the meaning of trading qualification, that is, they can only engage in the actual securities trading business after obtaining the trading seat. Judging from the relevant management systems of Shanghai Stock Exchange and Shenzhen Stock Exchange, trading seats represent the rights and interests of members in stock exchanges and are the basis for members to enjoy trading rights.

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