floor official

(redirected from Floor Officials)

Floor official

An employee of a stock exchange who settles disputes related to the auction process on the floor of the stock exchange.

Floor Official

An employee of an exchange that judges between disputes on the trading floor. For example, if two traders disagree on the terms of a trade to which they previously agreed, they may call upon a floor official to settle the dispute. It is important to note that floor officials do not decide points of trading law; they merely arbitrate disputes.

floor official

An exchange member or employee who mediates disputes among members on the floor of the exchange. For example, two floor brokers may disagree as to which one of them has priority on an order. The floor official would then umpire the dispute.
References in periodicals archive ?
According to Jason Lehman of Citadel Derivatives, the company initiated these arbitrations to recover losses from a January 12, 2005 incident in which, hours after the fact, AMEX floor officials cancelled all option trades that occurred in Taser International (TASR) between 9:30 and 9:45 a.