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."

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.

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.

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.

References in periodicals archive ?
The event was attended by several hundred guests, including former floor traders and other market participants.
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.
Eckhardt and Dennis, who both started in the futures business as floor traders, also created the so-called "Turtle System," which trained several potential traders early on, many successful in their own right today.
The Frankfurt Stock Exchange (FWB) insisted, however, that Hemler's employers continue to pay for him the 15,000 euro ($17,110) annual fee otherwise asked of floor traders.
Floor traders at the New York Stock Exchange were getting set for the stock to begin trading, with the exchange continuing to match millions of share orders.
You can build a fair market where computers, floor traders, retail and institutional, they can all be a part of the same trading eco-system," Katsuyama said.
Apart from the high profitability of these banks, the good dividends distributed by these lenders to the shareholders could explain why there was occasional block trading in recent weeks," Jean Michel, one of the floor traders at the Arab Finance Corporation told The Daily Star.
Their database is defined as the expectations of the mass demographic of individual investors, floor traders, investment advisors and market strategists for quarterly earnings.
Allan Elstein, and Nestor Croce, each have more than 18 years of experience as sovereign floor traders and brokers of soft commodity futures and options.
This will enable floor traders and electronic market makers to increase their market opportunities in hybrid markets by granting access to the same option prices, models and analytics.
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.
Bergenfield also spent several years at Kellogg Specialist Group, where he ran a proprietary trading strategy and assisted in the development of equity market-making algorithms for NYSE floor traders.