A member of an exchange who trades his own account on the floor of the exchange for personal profit. Also referred to as a local. A floor trader is a member of a stock or commodities exchange who trades on the floor of that exchange for his or her own account. The floor trader must abide by trading rules similar to those of the exchange specialists who trade on behalf of others.
Additional meaning of Floor trader:
The term should not be confused with floor broker. Floor Traders are occasionally referred to as Registered Competitive Traders, Individual Liquidity Providers or locals.