Connell McShane
Connell McShane
Connell McShane joined FOX Business Network as a correspondent in September 2007.
Prior to joining FBN, McShane worked at Bloomberg Television where he served as a news reporter and an anchor working on Evening Edition, On the Markets and Marketweek. He also broadcasted live reports from both the New York Stock Exchange and NASDAQ. Before Bloomberg Television, McShane co-anchored the syndicated morning show The First Word on Bloomberg Radio.
McShane began his career in sports broadcasting. He served as the play-by-play voice of minor league baseball’s Pittsfield Mets during the 1998 season.
A graduate of Fordham University with a Bachelor of Arts degree in Communication and Media Studies, McShane was named a finalist in both the New York Metro Achievement in Radio Awards and the New York State Associated Press Broadcasters' Association.
WATCH FOXBusiness.com LIVE with Connell McShane and Jenna Lee Weekdays @ Noon ET. Talk to us at FBNlive@foxbusiness.com
FOX Translator
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A specialist is a member of a stock exchange who works as an auctioneer for a specific stock and/or stocks. It can be an individual, partnership, corporation or group of firms.
The specialist works to maintain a "fair and orderly market" for respective stocks, matching up buyers and sellers by displaying the best "bid" and "ask" prices at its trading post. If buys are not equal to sells, the specialist evens the scale by buying or selling shares, accordingly. However, they cannot make their own transactions until all investor orders have been placed.
Gauging supply and demand, the specialist sets an opening price for the stocks in its domain. If a price has not been set by the time the market opens, the specialist can delay that particular stock's opening.
Specialists make money off the "spread," which is the difference between bid and ask prices on orders.
