Cryptic crossword clue
Label derived from name of space occupied by horse

The most common and most likely answer to this crossword clue is the 6 letter word EPONYM

I've seen this crossword clue in The Guardian
E
P
O
N
Y
M


Buddy explains!

The straight part
We know that "Label derived from name" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case label derived from name = eponym.
The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

What does EPONYM mean?

EPONYM noun
  1. A real or fictitious person's name that has given rise to the name of a particular item.
  2. A word formed from a real or fictive person’s name.
  3. (by extension) A word formed from a real or fictive place or thing.

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