A person is “associated with” a securities exchange or an applicant for registration as such if the person is:
1. An officer, director, shareholder, employee or other agent, client, customer or member of the securities exchange or applicant;
2. A partner, officer or director of a member of the securities exchange; or
3. An employee of a member of the securities exchange who is licensed pursuant to this chapter or registered pursuant to the Securities Exchange Act of 1934.