Runner

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DEFINITION of 'Runner'

A broker employee who delivers a market order to the broker's floor trader. After a customer places an order to the broker's order taker, the runner will pass the instructions to the pit trader and wait for confirmation. Once the trade is executed, the runner will return to the order taker, confirming the order has been filled.

INVESTOPEDIA EXPLAINS 'Runner'

Runners are an important link between the customer and the floor trader. They are responsible for passing on the a customer's order to the broker in a timely fashion. The runner communicates all terms associated with a market order and whether the order is of a specific type. As exchanges have slowly shifted from a floor-based trading environment to electronic platforms, the need for runners has decreased as orders are processed electronically.

RELATED TERMS
  1. Exchange

    A marketplace in which securities, commodities, derivatives and ...
  2. Floor Trader - FT

    An exchange member who executes transactions from the floor of ...
  3. Market Order

    An order that an investor makes through a broker or brokerage ...
  4. Order

    An investor's instructions to a broker or brokerage firm to purchase ...
  5. Pit

    A specific area of the trading floor that is designated for the ...
  6. Broker

    1. An individual or firm that charges a fee or commission for ...
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