Floor broker


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Related to Floor broker: Commission broker, Floor trader

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.

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.

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.

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.

References in periodicals archive ?
"Floor brokers differentiate the NYSE market model by blending sophisticated automation - such as uniquely engineered algorithms in their hand-held order-management systems - with human expertise and value-added service to offer a highly managed solution for a very large and diverse community of customers," the stock exchange said.
The KCA revised the spot rate upward by Rs 150 per maund to Rs 6,900 per maund while physical prices hovered around Rs 7,365 per maund, floor brokers said.
Majority of the buyers and sellers were entangled in price war while deals for all grades changed hands on competitive prices in Sindh and Punjab stations at around Rs 6,550 per maund to Rs 6,975 per maund while production of the lint in the ginneries of Sindh and Punjab remained steady at around 20,000 bales, floor brokers said.
According to the floor brokers, the amnesty scheme announced by the Federal Board of Revenue (FBR) has created liquidity crunch in the markets, therefore, trading activity in cotton, yarn and fabric markets continue to slow down.
The KCA revised the spot rate upward by Rs 100 per maund to Rs 6,600 per maund while physical prices hovered around Rs 6,900 per maund, floor brokers said.
The KCA revised the spot rate downward by Rs 50 per maund to Rs 6,650 per maund in order to provide support to raw grade sellers for getting better prices, floor brokers said.
However, tight supply position owing to depleted stocks and dwindling phutti arrivals kept activity dull and dreary, floor brokers said.
The KCA spot increased by Rs 200 per maund to stay firm at Rs 6,500 per maund, while physical prices hovered around Rs 6,950 per maund, floor brokers said.
Spinners in Punjab stations made forward deals for a month's delivery on competitive price at around Rs6,525 per maund while in Sindh stations they made deals for fine grades at around Rs6,975 per maund, floor brokers added.
Floor brokers said that short crop by up to 1.8 million bales against higher demand for raw cotton from spinning industry is keeping prices surged.
The KCA spot increased Rs 100 to stay firm at Rs 6,300 per maund while physical prices remained above Rs 6,850 per maund, floor brokers said.
The KCA spot further increased by Rs 100 per maund to stay at Rs 6,200 per maund while physical prices remained above Rs 6,430 per maund, floor brokers said.