Code and Local

noun

• A set of rules or principles or laws (especially written ones.
  • synonyms: codification
• A coding system used for transmitting messages requiring brevity or secrecy.
• Computer science. ( the symbolic arrangement of data or instructions in a computer program or the set of such instructions)
  • synonyms: computer code

verb

• Attach a code to.
  • usage: "Code the pieces with numbers so that you can identify them later"
• Convert ordinary language into code.
  • usage: "We should encode the message for security reasons"
  • synonyms: encipher, cipher, cypher, encrypt, inscribe, write in code

• (n.) A body of law, sanctioned by legislation, in which the rules of law to be specifically applied by the courts are set forth in systematic form; a compilation of laws by public authority; a digest.
• (n.) Any system of rules or regulations relating to one subject; as, the medical code, a system of rules for the regulation of the professional conduct of physicians; the naval code, a system of rules for making communications at sea means of signals.

noun

• Public transport consisting of a bus or train that stops at all stations or stops.
  • usage: "the local seemed to take forever to get to New York"
• Anesthetic that numbs a particular area of the body.
  • synonyms: local anesthetic, local anaesthetic, topical anesthetic, topical anaesthetic

adjective

• Relating to or applicable to or concerned with the administration of a city or town or district rather than a larger area.
  • usage: "local taxes"; "local authorities"
• Of or belonging to or characteristic of a particular locality or neighborhood.
  • usage: "local customs"; "local schools"; "the local citizens"; "a local point of view"; "local outbreaks of flu"; "a local bus line"
• Affecting only a restricted part or area of the body.
  • usage: "local anesthesia"

• (n.) A train which receives and deposits passengers or freight along the line of the road; a train for the accommodation of a certain district.
• (n.) On newspaper cant, an item of news relating to the place where the paper is published.
• (a.) Of or pertaining to a particular place or to a definite region or portion of space; restricted to one place or region; as, a local custom.

Local is a floor trader who is a member of an exchange. He trades for his own account as opposed to doing transactions for the accounts of customers.