Random Aeronautical Term
Floating Waypoints
Floating waypoints represent airspace fixes at a point in space not directly associated with a conventional airway. In many cases they may be established for such purposes as ATC metering fixes, holding points, RNAV-direct routing, gateway waypoints, STAR origination points leaving the en route structure, and SID terminating points joining the en route structure.
[Source: Instrument Procedures Handbook]