STOCK EXCHANGE MEMBERSHIP: What's the difference between commission brokers and floor brokers?

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STOCK EXCHANGE MEMBERSHIP: What's the difference between commission brokers and floor brokers?

2006-10-18 12:03:55 · 1 answers · asked by CulturedQuant 2 in Business & Finance ➔ Investing

1 answers

A stock exchange membership is called a SEAT. A comission broker usually works in a financial firm itself and excutes trades of his/her clients. He gets commisions based on those trades.

A floor broker trades in the NYSE "pits" on behalf of a brokerage house. They get paid a salary.

2006-10-18 13:21:29 · answer #1 · answered by gcl915 2 · 0⤊ 0⤋