DEFINITION of ‘Pork Chop’
An arrangement on the floor of the NYSE whereby clerks cover the booth of a floor broker and accept orders, phone calls, and associated tasks.
BREAKING DOWN ‘Pork Chop’
The clerks in charge of maintaining the booths are directly compensated by the floor brokers who own them. This arrangement is beneficial to the floor brokers as it allows them to handle business outside the floor on the NYSE while still taking orders and maintaining trading requirements.