An independent member of an exchange who is authorized to execute trades on the exchange floor on behalf of clients.

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A floor broker is a middleman who acts as an agent for clients, indirectly giving them the best access possible to the exchange floor.

Once a floor broker receives a buy or sell order for a specific stock, he or she will attempt to get the most competitive market rate for the client.

The floor broker does this by proceeding to the trading post on the exchange floor, where the specialist for the stock is located, and bids against other brokers and traders to get the best price for the stock purchase or sale. A floor broker is different from a floor trader , who trades as principal for his or her own account, whereas the floor broker acts as an agent for clients.

How Does the Stock Market Trading Floor Work? | Finance - Zacks

A floor broker also differs from a commission broker in that the latter is an employee of a member firm , while the floor broker is an independent member of the exchange. Dictionary Term Of The Day. A measure of what it costs an investment company to operate a mutual fund.

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Floor Broker (FB)

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