- 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 ( execute) 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 . Bloomberg Financial Dictionary————A member of a US stock exchange who holds an exclusive franchise to trade in one or more securities on the exchange floor. The specialist in return is obliged to maintain a fair and orderly market in the stocks in which he or she is registered. Exchange Handbook Glossary
* * *specialist spe‧cial‧ist [ˈspeʆlst] noun [countable]1. COMMERCE a person or business that has a lot of skill or knowledge in a particular subject, and often gives advice to others:specialist in
• He's a specialist in the insurance industry.
• Many technical specialists are employed in commerce and the service sector.2. FINANCE a dealer on a stockmarket who buys and sells shares in a small list of companies for investors— specialist adjective [only before a noun] :
• The advantage of employing a specialist firm is that its tradesmen are more likely to be well trained and experienced.
* * *Market makers in one or more selected securities listed on an exchange. Found at a trading post on the floor, they earn their income from commission when acting as a broker, or from the spread in their quoted prices when acting as a dealer.
* * *Ⅰ.specialist UK US /ˈspeʃəlɪst/ noun [C]► someone who has a lot of experience, knowledge, or skill in a particular subject or business area: specialist in sth »
She is a specialist in financial services and insurance.► FINANCE, STOCK MARKET someone who works on a US stock market and buys and sells shares in particular types of companies: »
Specialists on regional exchanges sometimes have lower dealing costs than those in New York.Ⅱ.specialist UK US /ˈspeʃəlɪst/ adjective [before noun]► having a lot of experience, knowledge, or skill in a particular subject or business area: »
The bank can give you specialist advice.»
It is always good to consult a specialist financial adviser.»
Five specialist firms are under investigation for allegedly interfering in the buying and selling of shares by investors.
Financial and business terms. 2012.