Dictionary of Finance and Investment Terms: specialist unit
specialist unit
stock exchange specialist (individual, partnership, corporation, or group of two or three firms) authorized by an exchange to deal as principal and agent for other brokers in maintaining a stable market in one or more particular stocks. A specialist unit on the New York Stock Exchange is required to have enough capital to buy at least 5000 shares of the common stock of a company it handles and 1000 shares of the company's convertible preferred stock.
