Floor broker

Floor broker,

Definition of Floor broker:

  1. 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.

  2. 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.

  3. 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?

  1. Floor brokers execute trades on behalf of institutional and high-net-worth clients.
  2. Today, floor traders are assisted by advanced computers and trading algorithms that help them compete with fully automated trading platforms.
  3. 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