floor

(redirected from took the floor)
Also found in: Dictionary, Thesaurus, Medical, Legal, Encyclopedia.

Floor

The area of a stock exchange where active trading occurs. Also the price at which a stop order is activated (when the price drops low enough to activate such an order). In context of interest rates, a level which an interest rate or currency is structured not to go below. In context of OTC interest rate options, a series of interest rate put options, where the buyer of the floor guarantees a minimum interest income

Floor

1. See: Exchange floor.

2. The lowest price or some other limit that can occur. For example, in an adjustable-rate mortgage, the lender will often specify a floor for the interest rate, which means that even though the interest rate on the mortgage changes from time to time, it will never drop below the specified floor. These exist to protect one or both parties to a contract or investment. See also: Ceiling, Collar.

floor

The area of an organized exchange where securities are traded. Customer orders are transferred to the floor, where they are executed by members of the exchange.

floor

Other than the obvious, refers to the bottom of something. Variable-rate mortgages may provide a minimum interest rate,called a floor,even if the rate would otherwise be less if the index dropped. Percentage leases with rent partially based on gross revenues might have a minimal amount,or floor payment.

References in periodicals archive ?
It was two hours before the Clippers took the floor against the Nuggets in Game 5 of the first round of the Western Conference playoffs, and already Staples Center was buzzing with the anticipation of the Clippers first postseason series win in 30 years.
Central School District, which was not among those threatened, took the floor plan of one of its schools off the Web, where it had been since 1999.
The hall was full, but the rest of the conference centre almost empty by the time Mr Prescott took the floor at the end of a week which one Coventry delegate described as having a "bad-tempered atmosphere".
An amazingly wide range of ages and politics took the floor one by one and offered thoughts on coping with the world, especially the Middle East--although a few pessimists suggested another round from the bar would be the best idea.
As the party heated up close to midnight, some delegates took the floor and danced.
All of Wyevale's eight resolutions, including executive pay, received 100 per cent approval with no questions asked when the board took the floor, said finance director Steve Murfin.
Disaster struck after the women took the floor to line dance at the interval.
Wearing a stetson Peter took the floor with Brazilian friend Reinaldo Avila da Silva, as dogs Bobby and Jack howled in the background.