Specialist Unit

  

Like...if you travel to Japan to get a penile implant that's illegal in the U.S. One kind of specialist unit.

Also, a thing that once acted as a facilitator in maintaining market liquidity.

The name "specialist unit," has largely been replaced by other terms. The job itself has become somewhat old-fashioned, thanks to the advent of electronic exchanges. However, tasks related to what's now called designated market makers, or supplemental market makers, are close to what specialist units used to do. These positions exist as part of the workings of the NYSE.

The goal of the specialist unit (back when there was such a thing) was to keep the market for a particular security on an even keel. The specialist unit had its own inventory of stock, which it dipped into when it needed to maintain liquidity for the stock. It also acted as an agent for brokers.

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