Originally meant
An English nautical command built from full (Old English full, 'filled, complete'), speed (Old English sped, originally 'success, thriving' and then 'rapid motion'), and astern (from a- 'in/on' + stern 'the rear of a ship', from a Germanic/Old Norse steering word), literally the order to apply the ship's whole propulsive force toward the rear.
Background
The adverb astern is recorded in English nautical language by the late 16th century, while the fixed engine-room order full speed astern belongs to the age of steamships in the 19th century. Stern is related to Germanic steering words such as Dutch stuur and German steuern.