NBBO
E448134
NBBO (National Best Bid and Offer) is a U.S. securities market benchmark that represents the highest displayed buy price and lowest displayed sell price available across all exchanges for a given stock at a given time.
Statements (49)
| Predicate | Object |
|---|---|
| instanceOf |
market microstructure concept
ⓘ
securities market benchmark ⓘ |
| abbreviationFor | National Best Bid and Offer NERFINISHED ⓘ |
| appliesTo |
U.S. equity markets
ⓘ
U.S. securities markets ⓘ listed stocks ⓘ |
| component |
best ask
ⓘ
best bid ⓘ best offer ⓘ |
| dataSource |
alternative trading systems with protected quotes
ⓘ
registered exchanges ⓘ |
| definedAs | the highest displayed bid and lowest displayed offer across all exchanges for a security at a given time ⓘ |
| excludes |
dark pool quotes
ⓘ
hidden liquidity ⓘ non-displayed orders ⓘ |
| fullName | National Best Bid and Offer NERFINISHED ⓘ |
| hasLimitation |
does not reflect odd-lot quotes in some regimes
ⓘ
may differ from prices on non-protected venues ⓘ may lag direct data feeds ⓘ |
| hasProperty |
displayed liquidity only
ⓘ
price-based benchmark ⓘ quote-based ⓘ time-varying ⓘ |
| includes |
best bid across exchanges
ⓘ
best offer across exchanges ⓘ displayed quotes from all protected venues ⓘ |
| jurisdiction |
United States of America
ⓘ
surface form:
United States
|
| measuredFor | individual securities ⓘ |
| objective | identify best displayed prices for investors ⓘ |
| output |
best bid price
ⓘ
best offer price ⓘ |
| regulatedBy | U.S. Securities and Exchange Commission NERFINISHED ⓘ |
| relatedConcept |
National Market System
NERFINISHED
ⓘ
SIP feed ⓘ best execution ⓘ consolidated quote ⓘ direct exchange feeds ⓘ inside market ⓘ limit order book ⓘ midpoint price ⓘ protected quotation ⓘ |
| relatedRegulation |
Order Protection Rule
NERFINISHED
ⓘ
Regulation NMS NERFINISHED ⓘ |
| timeGranularity |
real-time
ⓘ
sub-second updates ⓘ |
| usedIn |
best execution analysis
ⓘ
order routing ⓘ retail order protection ⓘ transaction cost analysis ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.