Floor broker

Floor broker
A member who is paid a fee for executing orders for clearing members or their customers. A floor broker executing customer orders must be licensed by the CFTC. The New York Times Financial Glossary

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   The person responsible for accepting orders on an exchange floor and handing them on to a specialist or trader for execution.
   ► See also Exchange.

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floor broker UK US noun [C] STOCK MARKET
► someone whose job is to trade shares, bonds, etc. for clients at an exchange rather than on the phone or a computer: »

Handheld wireless devices allow floor brokers to receive orders and send reports while remaining on site.

→ Compare FLOOR DEALER(Cf. ↑floor dealer), FLOOR TRADER(Cf. ↑floor trader)

Financial and business terms. 2012.

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Look at other dictionaries:

  • floor broker — ( FB) An individual who executes orders for the purchase or sale of any commodity futures or options contract on any contract market for any other person. Chicago Board of Trade glossary A person who executes orders on the trading floor of an… …   Financial and business terms

  • Floor broker — A floor broker is a 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. The floor broker receives an order via teletype machine from his firm s trading department and… …   Wikipedia

  • floor broker — noun : a broker who trades on the floor of an exchange for the account and risk of others compare floor trader * * * a member of a stock or commodity exchange who executes orders on the floor of the exchange for other brokers. Cf. floor trader.… …   Useful english dictionary

  • Floor Broker - FB — An employee of a member firm who executes trades on the exchange floor on behalf of the firm s clients. Also known as a pit broker . Basically, floor brokers receive orders from their firms, which have been placed by the firms clients, and… …   Investment dictionary

  • floor broker — a member of a stock or commodity exchange who executes orders on the floor of the exchange for other brokers. Cf. floor trader. [1910 15] * * * …   Universalium

  • floor broker — / flɔ: ˌbrəυkə/ noun a stockbroker who is a member of a brokerage house …   Dictionary of banking and finance

  • floor broker — Member of stock or commodity exchange who is employee of member firm and executes trades for clients …   Black's law dictionary

  • floor broker — Member of stock or commodity exchange who is employee of member firm and executes trades for clients …   Black's law dictionary

  • floor dealer — ➔ dealer * * * floor dealer UK US noun [C] STOCK MARKET ► someone whose job is to trade shares, etc. for the firm that they represent or for clients at an exchange rather than on the phone or a computer → Compare FLOOR BROKER(Cf. ↑ …   Financial and business terms

  • broker — A company or individual that executes futures and options orders on behalf of financial and commercial institutions and/or the general public. Chicago Board of Trade glossary An agent who executes trades (buy or sell orders) for customers. He… …   Financial and business terms

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