| || InvestHub.com's |
Finance Dictionary and Glossary of Investment Terms
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.
An order a customer places with a broker not on the floor of an exchange. Exchanges require that such orders be executed before identical on-floor orders.