Specialist

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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.

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Jefferson School leads on the specialism of creative and performing arts to ensure that it is delivered to equal high quality across all academy schools.
e proposal for Longley School, based at Dog Kennel Bank, is to change its specialism so that it becomes a school only for pupils with an autistic spectrum condition aged four to 19, creating an extra 80 places.
Thomas Hepburn School, in Felling, which has a science specialism, will have a new three-storey building at the core of its learning facilities.
But with just one long time-trial - Wiggins' specialism - and more demanding mountain stages than this year, the 2010 route is likely to be more favourable to climbers such as 2009 winner Alberto Contador and Luxembourg's Schleck brothers, Andy and Frank.
The book is also a homage in part to the impact Powell & Moya had on hospital buildings in the 1960s and their influence on a generation of young architects who worked for them, before they, as did the author, established their own practices in which health projects became a major specialism.
The trend towards combination certifications is growing, as people want to incorporate management skills with a specialism in security, for example.
The college will offer a foundation degree in Healthcare Play Specialism - working in partnership with the University of West London.
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.
He has particular experience and specialism in the distribution of assets following relationship breakdowns.
Judith Thompson, director of arts specialism at Hill Top School, said: "We have some very gifted and talented young people and I wanted to provide something extracurricular for them.
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.