Direct floor operations of brokerage firms.
What does an Exchange Floor Manager do?
Directs floor operations of brokerage firm engaged in buying and selling securities at exchange: Monitors order flow and transactions that brokerage firm executes on floor of exchange. Reviews reports of securities transactions and price lists, using computer, to analyze market conditions. Informs staff of changes affecting firm or exchange. Calculates profit made by firm and estimates business volume lost to competition. Develops plan to increase firm’s market share of business. Negotiates business contracts with exchange officials, and represents firm by membership in various exchange committees. Interviews, selects, and hires employees, such as FLOOR BROKER 162.167-034 and clerical workers. Develops and implements plans to ensure compliance of workers with established programs and procedures. Conducts staff meetings to discuss changes in policy or to propose methods and procedures which could increase profit and trade volume. Monitors employee attendance and takes disciplinary action when regulations are violated. Evaluates employee job performance and promotes or terminates personnel. May place orders with independent trader when additional help is needed to fill orders for brokerage firm. May buy and sell securities on floor of exchange [FLOOR BROKER]. May specialize according to type of securities traded at exchange and be designated Manager, Commodity Exchange Floor; Manager, Options Exchange Floor; Manager, Stock Exchange Floor.