NBBO
National Best Bid and Offer — the best available bid and ask across US exchanges that brokers must honour.
Appears in these guides
Related terms
Related lessons
High-Frequency Trading (HFT): Speed, Orders and Liquidity
Understand what fast automated trading does, how latency affects order events, and why speed alone proves neither profitability nor market manipulation.
Cede & Co: Understanding Securities Ownership
Trace US shareholdings through the issuer register, DTC participant accounts and broker records, with worked ownership and distribution reconciliations.
Dark Pools & Alternative Trading Systems
Separate US trading-venue rules from order visibility, trace two hypothetical executions, and understand what dark-pool data can and cannot reveal.
Ironclad Research provides educational content only. Nothing on this platform is financial advice, a recommendation, or an offer to buy or sell any security. Always do your own research and consider professional advice before making financial decisions.