Floor broker
 | This article needs additional citations for verification. (July 2023) |
A floor broker also known as a "Pit broker" is an independent member of an
agent on the floor of the exchange.[2] With the advent of electronic trading
in the 1990s and the closing of physical trading floors, this role has largely disappeared.
The floor broker used to receive an order via
registered representative back at the firm and the trade is printed on the consolidated ticker tape which is displayed electronically around the country. A floor broker should not be confused with a floor trader who trades as a principal
for his or her own account, rather than as a broker.
Commission brokers were employees of a member firm.
References
- ^ "Financial Terms by: F -Floor broker". Nasdaq. Retrieved June 26, 2021.
- ^ "7 U.S. Code § 1a - Definitions floor broker". Cornell Law School. Retrieved June 26, 2023.
 | This economics-related article is a stub. You can help Wikipedia by expanding it. |