board broker

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Board broker

Employee of the Chicago Board Options Exchange who manages away from the market orders, which cannot be executed immediately.

Board Broker

1. A member or candidate for a membership on a commodity exchange who is asked to help ensure the smooth flow of trades. Specifically, the board broker matches and executes orders, provides quotes, and sees that all trading accounts are accurate and up-to-date. Generally speaking, a board broker is assigned a single commodity for which to provide this service. See also: Specialist, Market Maker.

2. An employee of the Chicago Board Options Exchange who maintains orders that are unable to be executed immediately because the prices requested are far away from current market prices. See also: Away from the market.

board broker

An employee of the Chicago Board Options Exchange who handles option orders that cannot be immediately executed because of price limits away from the current market price.