Specialist's Display Book

Specialist's Book

A list of all long and short positions that a specialist holds. The book also contains all orders by other member firms on an exchange that the specialist may be able to fill. It is also called simply a book. See also: New York Stock Exchange Display Book.

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Specialist's display book. A display book was traditionally a written chronological record of all limit, stop, and short sale orders that had been placed with a specialist for an individual security on behalf of specific clients plus an inventory of the specialist's own holdings in the security.

The New York Stock Exchange (NYSE) Display Book is an electronic extension of that recordkeeping. It's part of an integrated telecommunications system that not only displays orders but executes and reports transactions, handles trade comparison, and links to a number of other functions.