Off-Floor Order
Categories: Trading
An off-floor order. You probably hear one every time you try to dance at a wedding, especially when "I Gotta Feeling" comes on.
Another definition has to do with securities trading.
Some exchanges operate only through electronic means. Like, with computers talking to each other. They don’t have a physical floor where people in ugly coats yell at each other.
Meanwhile, other places still have the real-life people in a real-life physical space, trading securities. Think: NYSE. An off-floor order comes into play on these exchanges that have both a physical and electronic system.
An off-floor order means that the investor has instructed their broker to skip the real-life people and stick to the computers. Their transaction (whether they are buying or selling securities) will happen electronically. In other words, it won't go through the trading floor.
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Finance: What is a Floor Broker v. Floor...13 Views
Finance allah shmoop What is ah floor broker versus a
floor trader All right Well here's a floor fixer and
here's a floor broker but okay Shocking a floor broker
Brokers stocks on the floor of a stock exchange Right
Well here's the new york stock exchange here's its floor
These guys down here they're floor brokers That is they're
trading stocks and other securities on behalf of their clients
Basically this is the scene from trading places with eddie
murphy Great old film Old rich white guys in a
building up here Call down to their guys on the
floor who execute their bidding All right well it's a
bunch of brokers all trading their clients stocks right here
and here And here and here and here all over
the world within among each other So that money is
well pushed around thoroughly like that Cato's in grandma's hash
browns recipe Note that a floor broker is different from
a floor trader Who although he or she works on
the floor of an exchange also makes trades as a
principal for his or her own account So yeah that's
floor broker No jackhammer required Thank you very much Go