off-floor order

(redirected from Off Floor Orders)

Off-floor order

Used for listed equity securities. (1) Order to buy or sell a security that originates off the floor of an exchange; customer orders originating with brokers, as distinguished from orders placed by floor members trading for their own accounts. Exchange rules require that an off-floor order be executed before orders initiated on the floor. Upstairs order. Antithesis of on-floor order; (2) order not handled on the floor but instead upstairs.

Off-Floor Order

An order to a broker to buy or sell a security in which the investor placing the order is not on the floor of the exchange. Specifically, the investor placing the order is not a market maker placing an order on his/her own account. Exchange rules require that off-floor orders be filled before identical on-floor orders.

off-floor order

An order that originates outside an exchange to trade a security. Orders entered by individual investors with brokers are off-board orders because they originate off the exchange. Off-floor orders have precedence over orders originating on the exchange floor. Compare on-floor order.
References in periodicals archive ?
For the execution of equity limit orders less than two minutes from the time of receipt; * For the execution of equity orders on the opening or reopening; * For the execution of off floor orders in equities delivered to the specialist through the Exchange's order routing systems, except in certain cases.