Specialist

(redirected from specialism)
Also found in: Dictionary, Thesaurus, Medical, Legal, Encyclopedia, Wikipedia.
Related to specialism: presumptuous, airing, they'd

Specialist

On an exchange, the member firm that is designated as the market maker (or dealer for a listed common stock). Member of a stock exchange who maintains a "fair and orderly market" in one or more securities. Only one specialist can be designated for a given stock, but dealers may be specialists for several stocks. In contrast, there can be multiple market makers in the OTC market. Major functions include executing limit orders on behalf of other exchange members for a portion of the floor broker's commission, and buying or selling for the specialist's own account to counteract temporary imbalances in supply and demand and thus prevent wide swings in stock prices.

Specialist

A member firm on a securities exchange that the exchange's management charges with keeping a fair and orderly market on one or more securities. That is, a specialist serves as a market maker on its assigned securities by buying and selling them to ensure liquidity in the market. Brokers approach specialists to conduct to conduct transactions on their assigned securities. Each security on the exchange has exactly one specialist. A specialist is less commonly called an assigned dealer. See also: Book.

specialist

A member of a securities exchange who is a market maker in one or more securities listed on the exchange. The specialist is the person on the exchange floor to whom other members go when they wish to transact or leave an order. Specialists are assigned securities by the exchange and are expected to maintain a fair and orderly market in them. Also called assigned dealer. See also book, Rule 104.

Specialist.

A specialist or specialist unit is a member of a securities exchange responsible for maintaining a fair and orderly market in a specific security or securities on the exchange floor.

Specialists execute market orders given to them by other members of the exchange known as floor brokers or sent to their post through an electronic routing system.

Typically, a specialist acts both as agent and principal. As agent, the specialist handles limit orders for floor brokers in exchange for a portion of their commission.

Those orders are maintained in an electronic record known as the limit order book, or specialist's book, until the stock is trading at the acceptable price. As principal, the specialist buys for his or her own account to help maintain a stable market in a security.

For example, if the spread, or difference, between the bid and ask, or the highest price offered by a buyer and the lowest price asked by a seller, gets too wide, and trading in the security hits a lull, the specialist might buy, sell, or sell short shares to narrow the spread and stimulate trading.

But because of restrictions the exchange puts on trading, a specialist is not permitted to buy a security when there is an unexecuted order for the same security at the same price in the limit order book.

References in periodicals archive ?
Sign Industries specialism is working with bronze, brass and stainless steel, they not only manufacture metal signs in all shapes and sizes but are industry leaders in their ability to provide exceptional and intricate etching work - producing high quality engraved plaques, such as memorial plaques and commemorative plaques.
This is an area of specialism in the North East and its good to hear that the Government is continuing to support the likes of Nissan.
The acquisition continues the theme of increasing investor focus on the alternative property sectors which has long been an area of specialism for GVA, and in particular the Midlands office, where there is a wealth of experience in specialist asset classes.
Armstrong School leads on the specialism of business and economics to ensure that it is delivered to equal high quality across all academy schools.
The academy would share the two existing schools' shared business and enterprise specialism catering for 900 11-16 year olds and 200 post 16 places.
The company's key specialism is the ability of INFORM to handle complex problems in real time, backed by 24 hour, 7-day-a-week, support of critical operations.
A specialism in absorbency is also the key to the new range of incontinence sheets/ liners, which like the mortuary products, are available in a range of shapes/sizes/absorbency levels.
No5 Chambers has been developing a specialism in financial services which is positioned to work with the ever-changing financial markets.
She will have just three minutes to convey the wonder and relevance of a chosen scientific specialism to the panel of judges, who will include British neuroscientist Professor Russell Foster, Andrew Cohen, head of the BBC's science unit; and anatomist, science writer and broadcaster Professor Alice Roberts.
The existing Sciences, Maths and Computing specialisms were joined by an Applied Learning specialism this year.
Our academy's specialism is business and enterprise and the experience the students have had in creating this garden is at the heart of that specialism.
Each pupil at the schools will receive pounds 129 extra funding each year for four years, and the schools will get a pounds 100,000 grant for new facilities for their specialism.