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.
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