[spesh-uh-list] 
| 1. | a person who devotes himself or herself to one subject or to one particular branch of a subject or pursuit. |
| 2. | a medical practitioner who devotes attention to a particular class of diseases, patients, etc. |
| 3. | U.S. Army. an enlisted person of one of four grades having technical or administrative duties, the grades corresponding to those of corporal through sergeant first class but not requiring the exercise of command. |
| 4. | Stock Exchange. a member of an exchange who executes orders in his or her name or for other stockbrokers in a single stock or a particular group of stocks and thus helps maintain the market in those securities on that exchange. |
| spe·cial·ist (spěsh'ə-lĭst) n.
|
Specialist
A member of an exchange who acts as the market maker to facilitate the trading of a given stock. The specialist holds an inventory of the stock, posts the bid and ask prices, manages limit orders and executes trades. Specialists are also responsible for managing large movements by trading out of their own inventory. If there is a large shift in demand on the buy or sell side, the specialist will step in and sell out of their inventory to meet the demand until the gap has been narrowed.
Investopedia Commentary
There is usually one specialist per stock who stands ready to step in and buy or sell as many shares as needed to ensure a fair and orderly market in that security.
Related Links
Understanding Order Execution
See also: Ask, Bid, Limit Order, Market Maker, Member, Member Firm, New York Stock Exchange - NYSE
specialist
specialist spe·cial·ist (spěsh'ə-lĭst)
n.
A physician whose practice is limited to a particular branch of medicine or surgery, especially one who is certified by a board of physicians.
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