Broker Booth Support System - BBSS

DEFINITION of 'Broker Booth Support System - BBSS'

An electronic system used by the New York Stock Exchange to send orders between brokers and trading booths on the floor of the exchange. The BBSS is an extremely efficient way to direct order flow. Prior to its advent, brokers used paper forms and sent runners to give orders to the floor traders to execute.

BREAKING DOWN 'Broker Booth Support System - BBSS'

The BBSS permits the New York Stock Exchange to handle daily trade volumes in excess of one billion shares. If this electronic system of routing orders were unavailable, brokers and traders would have to rely on paper forms to document and execute trades. In addition to being a physically demanding process, the paper format is much more difficult to audit and track than its electronic counterpart.

RELATED TERMS
  1. Hybrid Market

    A securities exchange that facilitates trading through a blend ...
  2. Runner

    A broker employee who delivers a market order to the broker's ...
  3. Pork Chop

    An arrangement on the floor of the NYSE whereby clerks cover ...
  4. Floor Broker (FB)

    An independent member of an exchange who is authorized to execute ...
  5. Telephone Booth

    A slang term referring to one of the many phone terminals on ...
  6. Executing Broker

    The broker or dealer that finalizes and processes an order on ...
Related Articles
  1. Investing Basics

    Understanding Order Execution

    Find out the various ways in which a broker can fill an order, which can affect costs.
  2. Professionals

    Order Execution

    Most customer orders, which are market orders or executable limit orders, will be routed electronically to the trading post for automatic execution. The electronic system bypasses the firm’s ...
  3. Professionals

    Crossing Stock

    A floor broker from time to time may get an order from both a buyer and a seller in the same security. The floor broker may be allowed to pair off or “cross” the orders and execute ...
  4. Professionals

    Super Display Book / SDBK

    Most customer orders will never be handled by a floor broker. Floor brokers usually only handle the large complex institutional orders. Customer orders will be electronically routed directly ...
  5. Online Stock Traders

    Online stock traders place buy/sell orders for financial securities and/or currencies with the use of a brokerage's Internet-based proprietary trading platforms. The use of online trading ...
  6. Professionals

    Exchange Markets

    Worldwide, there are over 100 securities exchanges where buyers and sellers meet to exchange goods and services in an organized, orderly fashion. Before we proceed, beginners should refer ...
  7. Investing Basics

    How To Choose The Right Online Trading Broker

    The online broker market is becoming more competitive, but differences exist in services that can help traders choose the broker that’s right for them.
  8. Professionals

    Brokers

    Commission House Broker A commission house broker is an employee of a member organization and will execute orders for the member’s customers and for the member’s own account. Two ...
  9. Forex Education

    Is Your Forex Broker A Scam?

    While the forex market is slowly becoming more regulated, there are many unscrupulous brokers who should not be in business.
  10. Professionals

    Exchange Market Characteristics

    CFA Level 1 - Exchange Market Characteristics. Learn the various characteristics of exchange markets. Discusses market order types, exchange membership and the market makers.
RELATED FAQS
  1. Why are traders on the floor of the exchange?

    Before the advent of electronic trading platforms, the floor of the stock exchange was the location for market transactions ... Read Answer >>
  2. What exactly is being done when shares are bought and sold?

    Most stocks are traded on physical or virtual exchanges. The New York Stock Exchange (NYSE), for example, is a physical exchange ... Read Answer >>
  3. How do financial advisors execute trades?

    Understand how financial advisors normally execute an investor's trades. Learn about the different type of markets and exchanges ... Read Answer >>
  4. What does membership in the New York Stock Exchange entail, and why is it known as ...

    Owning a seat on the New York Stock Exchange (NYSE) enables a person to trade on the floor of the exchange, either as an ... Read Answer >>
  5. What is Ginzy trading?

    Ginzy trading is an order of different prices placed by a floor broker. It occurs when a floor broker attempts to avoid an ... Read Answer >>
  6. Does a broker always have to buy a stock if I want to sell it?

    There are certain times when a broker must purchase the stock that you are selling. For example, if the broker is a market ... Read Answer >>
Hot Definitions
  1. Law Of Demand

    A microeconomic law that states that, all other factors being equal, as the price of a good or service increases, consumer ...
  2. Cost Of Debt

    The effective rate that a company pays on its current debt. This can be measured in either before- or after-tax returns; ...
  3. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  4. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  5. Keynesian Economics

    An economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed ...
  6. Society for Worldwide Interbank Financial Telecommunications ...

    A member-owned cooperative that provides safe and secure financial transactions for its members. Established in 1973, the ...
Trading Center