Requirements for Floor Brokers
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Floor Brokers
There are two main types: Commission brokers, employed by brokerage houses, buy and sell securities on the floor for the general public. Independent floor brokers work for themselves.
Floor brokers. Any individuals on the exchange floor engaged in executing orders for another person. They may also trade for their own accounts, with the primary responsibility of executing the customers' orders first.
Floor brokers: Employees of a broker/dealer who execute the firm's orders on the floor of a futures exchange.
Open outcry The trading method by which competing market makers and Floor Brokers representing public orders make bids and offers on the trading floor. Opening transaction An addition to, or creation of, a trading position.
Floor brokers are the largest single membership group of the New York Stock Exchange (NYSE). There are two types of floor brokers: commission brokers and independent floor brokers.
On the New York Stock Exchange, also known as the NYSE or the Big Board, firms give their buy and sell orders to their floor brokers.
NYSE member who executes orders for other floor brokers who currently have more business than they can manage themselves, or for firms whose floor brokers are not on the floor.
Once you put in your order, the brokers discussed above, relay that order to the floor brokers. The floor brokers are responsible for selling and buying stock and they hold a seat on the actual exchange.
Bloomberg states: "Flash systems trace their roots as far back as 1978 to efforts by exchanges to electronically replicate how a trader might yell an order to floor brokers before entering it into the system that displays all bids and offers.
Unlike the New York Stock Exchange, there aren't floor brokers here. TeenAnalyst Advice: The NADAQ is a completely electronic stock exchange. If you visited the NYSE, you'd see lots of people running around executing trades.
As agent, the specialist handles limit orders for floor brokers in exchange for a portion of their commission.
He worked as an analyst with floor brokers before joining EWI in 1993, where he covered commodities and oversaw currency analysis. After a stint with Nexus Capital Ltd.
Messengers who rush orders they receive from phone clerks to floor brokers for execution in the pit or ring.
NFA is the premier independent provider of efficient and innovative regulatory programs that safeguard the integrity of the futures markets.
A term used to refer to the open orders held by floor brokers on futures exchanges.
Defensive Buy
An investment that is an attractive buy because it is low risk, not because of its return potential.
Independent broker
NYSE member who executes orders for other floor brokers and firms other than their own.
Independent project
A project whose acceptance or rejection is independent of the acceptance or rejection of other projects.
Automated trading platforms are replacing traditional floor brokers. Execution time was brought down from more than nine seconds to lest then a second nowadays.
Hand Held Terminal: A small computer terminal used by floor brokers or floor traders on an exchange to record trade information and transmit that information to the clearing organization.
Automated order entry system - computerized system designed to bypass floor brokers to speed things up on the exchange.
The size of orders are limited on these things.
AUTO EX, DOT, OSS, PACE, SOES, SOREX, etc.
NYSE member who executes orders for Floor brokers and firms other than its own.
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The market maker system encompasses the market makers, floor brokers, and order book officials. There are more than 800 member firms that act as NASD Market Makers.
Member of an exchange entitled to clear its own transactions, those of its customers and those of the floor brokers without a clearing license.
Deutsch: General-Clearing-Mitglied
General Meeting (GM) ...
A declaration that market conditions in the futures pit are so disorderly temporarily to the extent that floor brokers are not held responsible for the execution of orders.
Federal Reserve Board ...
Fast Markets: A declaration that market conditions, in the futures pit, are so disorderly temporarily to the extent that floor brokers are not held responsible for the execution of orders.
Automated Order System (AOS)
Investment banks, computerized order entry system that sends single order entries to DOT (Odd-Lot) or to investment banks, floor brokers on the exchange. See: Round lot, GTC orders.
Several market-makers are normally assigned to a particular security. The market-maker system encompasses the market-makers, floor brokers, and order book officials. See also Order Book Official and Specialist.
the making of a market, by making bids and offers for his account in the absence of public buy or sell orders. Several market-makers are normally assigned to a particular security. The market-maker system encompasses the market-makers, floor brokers, ...
Floor brokers : Any individuals on the exchange floor engaged in executin...
Floor traders : See Floor traders locals.
Floor traders locals : Exchange members who execute their own trades by b...
FOMC : See Federal Open Market Committee.
 See also: Broker, Floor broker, Floor, Market, Trading
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