Series 24: 5.5.2.3.1. Floor Brokers

5.5.2.3.1.  Floor Brokers

Brokerage firms employ floor brokers to execute trades on the exchange floor. Floor brokers may fill orders themselves or through a market maker or another floor trader.

Floor brokers, not Designated Market Makers, fill all not held market orders. With these orders, floor brokers will hold the order until they think they can get the best price available.