A network of trading desks for the major brokerage firms and institutional investors, which communicate with each other by means of electronic display systems and telephones to facilitate block trades and program trades.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
The trading of listed securities that occurs off the floor of the exchange. That is, the upstairs market is essentially over-the-counter trading for a listed security. Much of the time, upstairs trades occur within a broker-dealer firm with the broker-dealer acting as the agent for both counterparties. Some exchanges prohibit these trades.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
The trading of securities within a broker-dealer firm rather than taking a trade to an exchange floor or trading with another broker-dealer in the over-the-counter market. In the upstairs market, the broker-dealer acts as a dealer or as an agent for both parties.
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.