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Floor trader
open-in-new
<p>A floor trader is a member of a <a href="/facts/Stock_exchange/lTJvjyVW">stock</a> or <a href="/facts/Commodities_exchange/p6XJqxKk">commodities exchange</a> who trades on the floor of that exchange for their own account. The floor trader must abide by trading rules similar to those of the <a href="/facts/Market_maker/7v05Fsa3">exchange specialists</a> who trade on behalf of others. The term should not be confused with <a href="/facts/Floor_broker/wn881dWA">floor broker</a>. </p><p>These traders are subject to a screening process before they can trade on the exchange. The people who operate as floor traders are in an <a href="/facts/Open_outcry/sy1GnhuC">open outcry</a> system that has slowly been replaced by automated <a href="/facts/Trading_systems/GagwN2Bs">trading systems</a> and computers that work in the same fashion as humans, without the interaction of people buying and selling stocks. </p>