Floor-broker definitions

A person who buys and sells stocks or other securities on an exchange. Floor brokers are the largest single membership group of the New York Stock Exchange (NYSE). There are two types of floor brokers: commission brokers and independent floor brokers. Commission brokers are employed by brokerage houses and trade for the public on the NYSE floor. They make money on commissions charged to execute trades. Independent floor brokers are self-employed and execute orders for brokerages that don’t have full-time commission brokers.