Definition of Floor broker:
Because of the limited space available on the physical trading floor, floor brokers are relatively rare. They generally represent larger clients, such as financial service firms, investment funds, and high-net-worth individuals.
Stock exchange member who executes buy-sell orders on behalf of his or her customers on the floor of the exchange. See also floor trader.
A floor broker, also known as a "pit broker," is an independent member of an exchange who is authorized to execute trades on the exchange floor.
How to use Floor broker in a sentence?
- Floor brokers execute trades on behalf of institutional and high-net-worth clients.
- Today, floor traders are assisted by advanced computers and trading algorithms that help them compete with fully automated trading platforms.
- They are independent members of the exchanges on which they trade, and they work from physical trading floors.
Meaning of Floor broker & Floor broker Definition