In general, processing flow of the conventional floating-point multiplication consists of either multiplication, addition, normalization, and rounding stage of the conventional floating-point multiplier requries a high speed adder for increment, increasing the overall execution time and occuping a large amount of chip area. A floating-point multiplier performing addition and IEEE rounding in parallel is designed by using the carry select addder used in the addition stage and optimizing the operational flow based on the charcteristics of floating point multiplication operation. A hardware model for the floating point multiplier is proposed and its operational model is algebraically analyzed in this paper. The proposed floating point multiplier does not require and additional execution time nor any high spped adder for rounding operation. Thus, performance improvement and cost-effective design can be achieved by this suggested approach.