Floor broker

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Related to Floor broker: Commission broker, Floor trader

Floor broker

Member of an exchange who is an employee of a member firm and executes orders, as agent, on the floor of the exchange for clients.

Floor Broker

A broker who is employed by a member firm of an exchange who executes trades on behalf of the member firm's clients. These clients make their orders to the member firm, which is also a brokerage, and these orders are relayed to floor brokers, who conduct the desired trades. Importantly, unlike floor traders, floor brokers do not trade on their own accounts.

floor broker

A member of a securities exchange who executes orders on the exchange floor. For example, commission brokers and two-dollar brokers are floor brokers.

Floor broker.

Floor brokers at a securities or commodities exchange handle client orders to buy or sell through a process known as a double action auction, in which brokers bid against each other to secure the best price.

The orders these brokers execute are sent to the floor of the exchange from the trading department or order room of the brokerage firms they work for. When a transaction is completed, the floor broker relays that information back to the firm, and the client is notified.

References in periodicals archive ?
Floor brokers can make an extra phone call or glance at the news reports without getting hammered by a barrage of computer-generated sell orders.
The Floor Broker Charity Trading Day complements many other charitable and volunteer efforts of NYSE Euronext markets worldwide.
Effective March 1, 2008, the new NYSE fee schedule for customers and floor brokers will include the following changes and benefits:
The market access controls are being used by LiquidPoint for our customers and also by the floor brokers at the Chicago Board Options Exchange, NYSE AMEX and NYSE ARCA, whose combined activity accounts for the majority of open outcry volume in options in the U.
NEW YORK -- Pragma Financial Systems, LLC, a New York-based quantitative financial technology provider, today announced that it has partnered with NYSE Euronext to provide algorithmic trading tools to New York Stock Exchange floor brokers.
John Dolan, CEO of the Kellogg Specialist Group, appointed by NYSE Group as a Floor Broker representative.
John has shown strong leadership in running the specialist and floor broker surveillance areas and has exceptional market knowledge and experience.
This technology has been seamlessly incorporated into the NYSE Amex Options trading platform and wireless network, made up of booth terminals and wireless handheld floor broker terminals.
This new trading facility uses ConvergEx's LiquidPoint technology to give off-floor customers and firms the ability to electronically route options orders of all sizes to the exchange-based Floor Broker Workstations (FBW) for the first time.
After a successful career as a trader and floor broker on the Chicago Board of Trade, including active and ongoing membership since 1986, Froelich established the Patsystems Chicago office as the first employee in the U.
Smith began his Wall Street career as an independent floor broker at the New York Stock Exchange.
55, Independent Floor Broker and Trader The following individual was elected by holders of Class B-2 shares: -- David J.