Off-Floor Order


DEFINITION of 'Off-Floor Order'

An investor's directive to buy or sell securities when that directive is given to a broker, not to a trader working on the trading floor of an exchange. Exchange rules require off-floor orders, which are made on behalf of customers, to be executed before on-floor orders, which are made for exchange members'own accounts. In some cases, an off-floor order can be reclassified as an on-floor order where a conflict of interest might exist.

BREAKING DOWN 'Off-Floor Order'

To be a floor trader, one must be associated with a member firm. Member firms pay hefty fees for the privilege of trading on the floor.

  1. Floor Broker (FB)

    An independent member of an exchange who is authorized to execute ...
  2. Trading Desk

    A desk where transactions for buying and selling securities occur. ...
  3. Trading Floor

    The floor where trading activities are conducted. Trading floors ...
  4. Floor Trader - FT

    An exchange member who executes transactions from the floor of ...
  5. Member Firm

    A broker-dealer in which at least one of the principal officers ...
  6. Corporate Social Responsibility

    Corporate initiative to assess and take responsibility for the ...
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