What is Off-floor Order?

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 executedbefore orders initiated on the floor. Upstairs order. Antithesis of on-floor order; (2) order not handled on the floor but instead upstairs.