The most common and most likely answer to this crossword clue is the 8 letter word ESOTERIC
I've seen this crossword clue in Financial Times
E
S
O
T
E
R
I
C
More clues leading to the result ESOTERIC
- Obscure English drunkard at Morecambe?
- Drunk in middle of week? Lush endlessly mysterious
- Strange score, tie baffling
- Circle in compound on island, circle initially difficult to understand
- Cryptic couple of notes hidden in Morecambe
- Obscure Byzantine coteries
- Private sector that is failing
- Arcane secret I spread around Ohio
- Secret drinker comes to earth in Morecambe?
- Arcane Eurosceptic’s cup runneth over
Buddy explains!

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 ESOTERIC mean?
ESOTERIC noun- An esoteric doctrine or treatise; esoteric philosophy.
- One who believes, or is an initiate, in esoteric doctrines or rites.
- Intended for or likely to be understood by only a small number of people with a specialized knowledge or interest, or an enlightened inner circle.
- Having to do with concepts that are highly theoretical and without obvious practical application; often with mystical or religious connotations.
- Confidential; private.