SECURITIES

NYSE Seat Sells for Record $1.45 Million: The new mark eclipses the previous high of $1.25 million, set on March 8. The New York Stock Exchange doesn’t release the names of buyers and sellers. Owning a seat on the NYSE confers membership, giving the holder the right to trade stocks and vote in exchange meetings. There are 1,366 seats on the NYSE, a number fixed since 1953. Like stocks, the Big Board sells seats according to values set with bid and ask prices. Rising seat prices usually are associated with high-flying markets. The price reflects the stock market rally that saw the Dow Jones industrial average rise about 42% since the start of 1995.