Floor broker

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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.
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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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

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.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
References in periodicals archive ?
Floor brokers said that buyers and sellers are seemingly marking time before drawing future strategy to get maximum benefit out of the current situation amidst rupee devaluation and declining trend in international market prices.
She started her role in March 2017, but says her employment was contingent upon passing the Series 19, the exam all floor brokers must pass to earn their badge.
The majority of buyers kept to the sidelines on grade issue and imbalance of price to different grades while ginning units produced 50 percent stuff out of the total output of around 9,000 bales, said floor brokers. However, arrival of fine grade cottonseed in some places in Punjab and Sindh stations put positive impact on fine grade prices.
Floor brokers said that confusion over crop size was keeping everyone perplexed and there was a strong indicator that prices would remain under pressure as most of the cotton producing countries were expecting bumper crops.
The KCA spot increased Rs 100 per maund to stay firm at Rs 7,000 per maund while physical prices remained around Rs 7,475 per maund to Rs 7,500 per maund, floor brokers said.
Floor brokers are one of three core liquidity providers in the NYSE market model; the others are designated market makers and supplemental liquidity providers.
The New York Stock Exchange's columned neo-Classical building is as instantly recognizable as the ceremonial ringing of the opening and closing bells, its floor brokers the embodiment of the frenzied pace of the market.
Founded in 1882, the Chicago Stock Exchange's 450 members, including floor brokers, specialists and market makers use the Internet intensively for company and market research, and for communicating with customers regarding orders.
In New York, a veritable army of 6,300 floor brokers, specialists, computer technicians, and miscellaneous clerks is required to keep the vast trading floor running smoothly.
Sofianos and Werner find that the dollar value of executed orders represented by floor brokers amounts to 44 percent of the value of all executed orders.
Karachi Stock Exchange have a limited number of members who are called floor brokers. These floor brokers execute, buy or sell orders handed to them by other members and for this service they receive a share of commission.