/ Dictionary / Index M merchant flag: Meaning and Definition of Find definitions for: mer'chant flag" Pronunciation: [key] the ensign used by all ships engaged in commerce, fishing, etc. Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease. merchant bank merchant guild Related Content Daily Word Quiz: impetuous Analogy of the Day: Today’s Analogy Spelling Bee: Today’s Spelling Bee Frequently Misspelled Words Frequently Mispronounced Words Easily Confused Words Writing & Language