The work of a specialist on the NYSE, trading on the largest stock exchange
For a future trader, it is necessary to perfectly understand all the nuances of a specialist's work. In the future, the success of your transactions will depend on, whether you correctly define the position of a specialist regarding any stock at a certain moment. Functions, which are assigned to a NYSE specialist. Approximately works for the New York Stock Exchange 1366 specialists. Many of them work for some dealership companies, who are NYSE members. A certain specialist controls the trading of the shares assigned to him, appointed by the NYSE Board of Directors. Customer complaints about a specialist can lead to, that he will be demoted, that is, he will trade shares of a not very prestigious company. To qualify as a specialist to work for the NYSE, you must first buy “specialist chair”, and the price for such a chair reaches 4 million dollars. The main task of a specialist is to maintain an orderly and fair market for his group of shares., it implies, that trades will be executed at the best prices available at the moment. The specialist must maintain a minimum spread for quotes and prevent too sharp jumps in the share price. The main main functions of specialists, working for the NYSE, are considered: the role of an active intermediary between sellers and buyers. announcement to the whole market of the best offer at the moment for sale and purchase, in other words, he is responsible for maintaining the quotes of his shares. специалист следит за исполнением и ведет учет …
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