A floor broker is an independent member of an exchange who can act as a broker for other members who become overloaded with orders, as an agent on the floor of the exchange. The floor broker receives an order via Teletype machine from his firm`s trading department and then proceeds to the appropriate trading post on the exchange floor. There he j.... Found on http://en.wikipedia.org/wiki/Floor_broker
A member who is paid a fee for executing orders for clearing members or their customers. A floor broker executing customer orders must be licensed by the CFTC. Found on http://www.encyclo.co.uk/local/20047