3-483: National Best Bid and Offer (NBBO) is a regulation by the United States Securities and Exchange Commission that requires brokers to execute customer trades at the best available (lowest) ask price when buying securities , and the best available (highest) bid price when selling securities, as governed by Regulation NMS . For example, if the offer (or "ask") price for a stock is $ 25.00 for 100 shares of
6-409: A stock on one exchange and $ 24.50 for 100 shares of the same stock on another exchange, and a broker has a customer who wishes to purchase 150 shares of the stock, then the broker is required to purchase all of the shares available at $ 24.50 on behalf of the customer before purchasing any of the shares available at $ 25.00. Additionally, if an order for 150 shares is sent directly to the first exchange, it
9-479: Is required under most circumstances to route the first 100 shares of the order to the other exchange, where the shares are available at a cheaper price. This economic term article is a stub . You can help Misplaced Pages by expanding it . United States Securities and Exchange Commission Too Many Requests If you report this error to the Wikimedia System Administrators, please include
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