Financial Definition of Specialist
Meaning of Specialist
On an exchange, the member firm that is designated as the market maker (or dealer for a listed common stock). 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.
Legal Definition of Specialist
A member of the New York Stock Exchange who has two primary functions: first, to maintain an orderly market in the securities registered to the specialist. In order to maintain an orderly market, the exchange expects specialists to buy or sell for their own account, to a reasonable degree, when there is a temporary disparity between supply and demand. Second, the specialist acts as a broker’s broker. When commission brokers on the exchange floor receive a limit order, say, to buy at $50 a stock…(more)
Synonyms of Speculation
(Conjecture), noun assumption,
- Associated Concepts: speculative damages
- speculative testimony
- calculated risk
Related Entries of Specialist in the Encyclopedia of Law Project
Browse or run a search for Specialist in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.
Specialist in Historical Law
You might be interested in the historical meaning of this term. Browse or search for Specialist in Historical Law in the Encyclopedia of Law.
Legal Abbreviations and Acronyms
Search for legal acronyms and/or abbreviations containing Specialist in the Legal Abbreviations and Acronyms Dictionary.
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Speculation Definition (in the Accounting Vocabulary)
The New York State Society of Certified Public Accountants offers the following definition of Speculation in a way that is easy for anybody to understand: Assumption of RISK in anticipation of gain but recognizing a higher than average possibility of LOSS.