floor

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Related to floors: FLORS, Lowes

Floor

The area of a stock exchange where active trading occurs. Also the price at which a stop order is activated (when the price drops low enough to activate such an order). In context of interest rates, a level which an interest rate or currency is structured not to go below. In context of OTC interest rate options, a series of interest rate put options, where the buyer of the floor guarantees a minimum interest income

Floor

1. See: Exchange floor.

2. The lowest price or some other limit that can occur. For example, in an adjustable-rate mortgage, the lender will often specify a floor for the interest rate, which means that even though the interest rate on the mortgage changes from time to time, it will never drop below the specified floor. These exist to protect one or both parties to a contract or investment. See also: Ceiling, Collar.

floor

The area of an organized exchange where securities are traded. Customer orders are transferred to the floor, where they are executed by members of the exchange.

floor

Other than the obvious, refers to the bottom of something. Variable-rate mortgages may provide a minimum interest rate,called a floor,even if the rate would otherwise be less if the index dropped. Percentage leases with rent partially based on gross revenues might have a minimal amount,or floor payment.

References in classic literature ?
Suddenly the panel flew inward, nearly precipitating the man to the floor. It was hinged at the bottom, and when lowered the outer edge rested upon the perch, making a little platform parallel with the floor of the room.
Without a sound he died and lunged forward to the floor. Then Tara ran to the window.
Again he commenced his groping advance; but this time he had gone but a short distance when he emerged into a room, which was lighted through an opening in the ceiling, from which a flight of concrete steps led downward to the floor of the chamber.
Of what avail, to sink spineless to the floor? Come, be a man!"
First there came the "butcher," to bleed them; this meant one swift stroke, so swift that you could not see it--only the flash of the knife; and before you could realize it, the man had darted on to the next line, and a stream of bright red was pouring out upon the floor. This floor was half an inch deep with blood, in spite of the best efforts of men who kept shoveling it through holes; it must have made the floor slippery, but no one could have guessed this by watching the men at work.
There was heaps of old greasy cards scattered around over the floor, and old whisky bottles, and a couple of masks made out of black cloth; and all over the walls was the ignorantest kind of words and pictures made with charcoal.
Over the seat of the chair Tess's face was bowed, her posture being a kneeling one in front of it; her hands were clasped over her head, the skirts of her dressing-gown and the embroidery of her night-gown flowed upon the floor behind her, and her stockingless feet, from which the slippers had fallen, protruded upon the carpet.
Then he dropped upon his hands and knees and examined the floor. Lighting the lamp he moved the bed to one side and, inch by inch, he felt over the entire floor.
Inlaid in the floor were golden parrots, while, as thickly as they could be painted, upon the ceiling were brilliant-hued parrots with wings outspread as though in the act of flying.
Even when he had his hand on the key, ready to turn it in the lock in case of necessity, he still looked back at the appalling object on the floor. There was no possibility of identifying those decayed and distorted features with any living creature whom he had seen-- and, yet, he was conscious of feeling a vague and awful doubt which shook him to the soul.
The human quality of his voice had startled the gutter-cat, causing her to forgo her spring as she flattened down her ears and bellied closer to the floor.
The mother slowly gathered herself up from the floor. Her eyes glittered menacingly upon her children.