Specialist
Contents
Exploring the Role of a Specialist in Financial Markets
Delve into the world of specialists, formerly known as market makers, and their pivotal role in facilitating stock trading on the New York Stock Exchange (NYSE). Understand their functions, historical significance, and the evolution of their responsibilities over time.
Unveiling the Specialist's Role
Discover the duties and responsibilities of specialists, now designated as designated market makers (DMM), in managing stock inventory, executing trades, and ensuring market liquidity. Learn how specialists maintained fair and orderly markets by stepping in during large shifts in demand.
Evolution of Specialist Roles
Explore the historical context of specialist roles, from acting as auctioneers to placing orders on behalf of brokers and customers. Understand how technological advancements, such as electronic trading, have impacted the decline in the number of specialists on the NYSE.