Specialist Block Purchase And Sale: 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.

 

Related Words

Specialist Block Purchase And Sale: 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 m . . . View Full Definition

Punch-And-Judy: Said of a hitter who tends to hit well-placed but weakly-hit balls for singles. The first reference was made by former Los Angeles Dodgers manager Walter Alston when asked about a home run b . . . View Full Definition

Pump And Dump: In a pump and dump scheme, a scam artist manipulates the stock market by buying shares of a low-cost stock and then artificially inflating the price by spreading rumors, typically using the . . . View Full Definition

Purchase: Buy; be long; have an ownership position.