Definition of Specialist firm:
A firm that employees specialists who represent companies listed on certain exchanges. A specialist is a market maker who facilitates the trading of a given stock, posting bid and ask prices, managing limit orders, and executing trades.
A specialist firm is a firm that hires the specialists to represent companies listed on the New York Stock Exchange (NYSE). Specialists on the NYSE are the market makers who facilitate trade of a certain stock by buying and selling to and from investors and holding shares of that stock when necessary. Companies listed on the NYSE will interview employees of the specialist firms, seeking out suitable people to represent them by holding inventories of the companies' stocks.
A specialist firm is a firm that employs a specific type of market maker that facilitates trades of specific stocks on the New York Stock Exchange (NYSE). Market makers also work on the Nasdaq, but since the Nasdaq is all electronically-traded and the NYSE is traded in person, specialists have more duties than do Nasdaq market makers, both in breadth and in volume.
Meaning of Specialist firm & Specialist firm Definition