Floor trader

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Floor trader

A stock exchange member who generally trades only for his own account or for an account controlled by him, or who has such a trade made for him. Also referred to as a "local."
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Floor Trader

On an exchange floor, a member who trades predominantly or exclusively on his/her own account. That is, the member does not represent a particular firm or client. A floor trader tends to profit from short-term price changes; they provide approximately 75% of liquidity in the market on a trading day. They contrast with floor brokers, who fill orders on behalf of clients. A floor trader is also called a registered trader or a registered competitive trader.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

floor trader

An independent trader on a securities exchange who trades primarily for his or her own account. Floor traders generally attempt to profit from short-term price swings. They tend to add liquidity to the market and are required to make at least 75% of their trades against the last price change in the security traded. Thus, the majority of a floor trader's purchases must occur when the last price change in the security is a downtick. Also called competitive trader, registered competitive trader, registered trader.
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 trader.

Unlike floor brokers, who fill client orders, floor traders buy and sell stocks or commodities for their own accounts on the floor of an exchange.

Floor traders don't pay commissions, which means they can make a profit on even small price differences. But they must still abide by trading rules established by the exchange. One of those rules is that client orders take precedence over floor traders' orders.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
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The new trading floor is about two-thirds the size of the old trading floor in Makati where the PSE used to hold fort prior to this relocation, based on the estimate of some floor traders. But Pardo said it would have bigger offices for the PSE, improving its ability to grow and support initiatives to launch new products.
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The shift to a nearly continuous cycle would be the latest change for the tradition-bound Chicago institution, which has struggled to balance demands from new hedge funds and institutional investors against the floor traders, farmers and other smaller dealers who have been wary of change.