An off-exchange market which consists of a network of trading desks for the major brokerage firms and institutional investors. The network handles communications among brokers and investors by means of electronic display systems and telephones for the purpose of facilitating block trades and program trades. An upstairs market transaction involves the sale of shares of a listed stock through negotiations within the offices of a brokerage firm rather taking the trade to an exchange.
An upstairs market is also known as a dealership market.
