Overview
Kellogg Group LLC is Wall Street's largest privately-held specialist firm, serving as the specialist for more than 725 equities on the New York Stock Exchange and as lead market maker for more than 200 exchange-traded funds and 100 structured products on the NYSE Arca platform.
Specialists, who use their own capital to facilitate trades on the floors of exchanges, often by taking the other side of orders from brokers, have seen their ranks dwindle in recent years. Kellogg Group is one of just a handful of specialists still operating at the NYSE after the move to a hybrid of electronic and floor-based trading in 2007. The firm recently let go of seven specialist traders.