Off-Floor Order: Used for listed equity securities. (1) Order to buy or sell a security that originates off the floor of an exchange; customer orders originating with brokers, as distinguished from orders placed by floor members trading for their own accounts. Exchange rules require that an off-floor order be executed before orders initiated on the floor. Upstairs order. Antithesis of on-floor order; (2) order not handled on the floor but instead upstairs.

 

Related Words

Off-Floor Order: Used for listed equity securities. (1) Order to buy or sell a security that originates off the floor of an exchange; customer orders originating with brokers, as distinguished from orders pl . . . View Full Definition

On-Floor Order: Used for listed equity securities. Security order originating with a member on the floor of an exchange when dealing with his or her own account, versus an upstairs order. Antithesis of off- . . . View Full Definition

Presale Order: An order to purchase part of a new municipal bond issue that is accepted by an underwriting syndicate before an official public offering.

Purchase Order: A written order to buy specified goods at a stipulated price.