NBBO
National Best Bid and Offer — the best available bid and ask across US exchanges that brokers must honour.
Related terms
Related lessons
What Is DRS?
A clear, balanced guide to the Direct Registration System: how shares are normally held in street name, what it means to register directly in your own name, the genuine benefits and real trade-offs, and how to think about it.
What Is Market Structure?
A guide to the hidden plumbing of the markets: the players, how a trade really travels from your tap to settlement, what the order book and liquidity mean, lit venues versus dark pools, and why it all affects the price you get.
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