Now, there's an exponent and a fraction, too. I've been playing around with how to do these numbers with logic gates (and verilog!) and you can either two's complement the whole thing and work with absolute values, or you can keep the fraction part as a two's complement...
So I just redid multiplication using two's complemented fractions! And addition/subtraction too, which for floating points in general is significantly harder than multiplication. The nice thing about two's complemented floating points is you don't need separate algorithms for addition and subtraction; you can just do everything with one algorithm.