National Best Bid and Offer definition

National Best Bid and Offer or “NBBO” means the best bid and best offer of at least one Board Lot displayed on all protected marketplaces, but does not include Basis Orders, Call Market Orders, Closing Price Orders, Market-on-Close Orders, Opening Orders, Special Terms Orders or Volume-Weighted Average Price Orders.
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National Best Bid and Offer means the highest displayed bid and the lowest display offer in the order book.
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Examples of National Best Bid and Offer in a sentence

  • Futures, options on futures and swap contracts that are listed or traded on a national securities exchange, commodities exchange, contract market or over-the-counter markets and are freely transferable will be valued at the composite price, using the National Best Bid and Offer quotes (“NBBO”).

  • The order protection rule eliminated the possibility of orders being executed at a suboptimal price compared to orders advertised on exchanges and it established the National Best Bid and Offer (NBBO) requirement that mandates brokers to route orders to venues that offer the best displayed price.

  • The “Bid/Ask Price” is the midpoint of the highest bid and lowest offer based upon the National Best Bid and Offer as of the time of calculation of the Fund’s NAV.

  • The QCC Order must be executed at a price at or between the National Best Bid and Offer and be rejected if a Customer order is resting on the Exchange book at the same price.

  • Layering is a form of market manipulation that typically includes placement of multiple limit orders on one side of the market at various price levels at or away from the National Best Bid and Offer (“NBBO”) that are intended to create the appearance of a change in the levels of supply and demand.

  • In the absence of a price from a pricing service, securities are valued at their respective fair values in accordance with policies approved by the Valuation Committee of the Trust.Exchange traded options are valued at the composite price, using the National Best Bid and Offer quotes (“NBBO”).

  • Exchange traded options are valued at the composite price, using the National Best Bid and Offer quotes (“NBBO”).

  • No advance, use of proceeds or other transaction contemplated by this Agreement will violate Anti-Corruption Laws or applicable Sanctions.

  • Futures, options on futures and swap contracts that are listed or traded on a national securities exchange, commodities exchange, contract market or over-the-counter markets and are freely transferrable will be valued at the composite price, using the National Best Bid and Offer quotes (“NBBO”).

  • Over-the-counter swap contracts are valued based on quotes received from independent pricing services or one or more dealers that make markets in such investments.Option contracts are valued using the National Best Bid and Offer price (“NBBO”).

Related to National Best Bid and Offer

  • Best Bid means the highest posted bid price of the Common Stock.

  • Competitive Local Exchange Carrier (CLEC) means any company or person authorized to provide local exchange services in competition with an ILEC.

  • Preadoptive placement which shall mean the temporary placement of an Indian child in a foster home or institution after the termination of parental rights, but prior to or in lieu of adoptive placement; and

  • Competitive Local Exchange Carrier (CLEC) means a telephone company certificated by the Commission to provide local Exchange Service within AT&T-21STATE’s franchised area.

  • exempt market dealer means a person or company registered in the category of exempt market dealer;

  • Responsive Bidder or Offeror means a person who submits a bid or proposal which conforms in all material respects to the invitation for bids or request for proposals.

  • Highest Bidder means the Bidder, who quotes the highest License Fees

  • Applicable Securities Legislation means applicable securities laws (including rules, regulations, policies and instruments) in each of the applicable provinces and territories of Canada;

  • Capacity Market Buyer means a Member that submits bids to buy Capacity Resources in any Incremental Auction.

  • Generating Market Buyer means an Internal Market Buyer that is a Load Serving Entity that owns or has contractual rights to the output of generation resources capable of serving the Market Buyer’s load in the PJM Region, or of selling energy or related services in the PJM Interchange Energy Market or elsewhere. Generation Capacity Resource:

  • Reference Market-makers means four leading dealers in the relevant market selected by the party determining a Market Quotation in good faith (a) from among dealers of the highest credit standing which satisfy all the criteria that such party applies generally at the time in deciding whether to offer or to make an extension of credit and (b) to the extent practicable, from among such dealers having an office in the same city.

  • Local Exchange Carrier or "LEC" means any Carrier that is engaged in the provision of telephone Exchange Service or Exchange Access. Such term does not include a Carrier insofar as such Carrier is engaged in the provision of a commercial mobile service under Section 332(c) of the Act, except to the extent that the FCC finds that such service should be included in the definition of such term.

  • Adoptive placement means arranging for the care of a child who is in the custody of a

  • Qualified Marketmaker means an entity that (a) holds itself out to the public or the applicable private markets as standing ready in the ordinary course of business to purchase from customers and sell to customers Company Claims/Interests (or enter with customers into long and short positions in Company Claims/Interests), in its capacity as a dealer or market maker in Company Claims/Interests and (b) is, in fact, regularly in the business of making a market in claims against issuers or borrowers (including debt securities or other debt).

  • Lowest Evaluated Bid means a bid for goods, works and services having the lowest evaluated cost among the substantially responsive bids

  • Open Market Purchase shall have the meaning specified in Section 2(I)

  • Qualified Bidder(s means a Bidder who fulfills the eligibility criteria listed out in the E-Auction Process Information Document.

  • multilateral trading facility (MTF means a multilateral system in the Union within the meaning of Article 2(1)(6) of Regulation[MiFIR].

  • Data Local Exchange Carrier or "DLEC" is a CLEC interconnecting primarily for purposes of transporting data.

  • Local Exchange Carrier (LEC) Shall have the meaning set forth in 47 U.S.C. §153. Local Exchange Routing Guide (LERG): The Telcordia Technologies reference customarily used to identify NPA-NXX routing and homing information, as well as equipment designation. Local Interconnection Trunk or Local Interconnection Trunk Group: One-way or two-way trunks or trunk groups used to exchange Local Traffic between a switch of one Party and a switch of the other Party.

  • Organizational and Offering Expenses means any and all costs and expenses, including Selling Commissions and the Marketing Support Fee incurred by the Company or any of its Affiliates in connection with the formation, qualification and registration of the Company and the marketing and distribution of Equity Shares in an Offering, including, without limitation, the following: legal, accounting and escrow fees; due diligence expenses; printing, amending, supplementing, mailing and distributing costs; personnel costs associated with processing investor subscriptions and the preparation and dissemination of organizational and offering documents and sales materials; telecopy and telephone costs; charges of transfer agents, registrars, trustees, depositories, and experts; and fees, expenses and taxes related to the filing, registration and qualification of the Equity Shares under federal and state laws.

  • Reference Market-Maker means a leading dealer in the relevant market that is selected in a commercially reasonable manner and is not an affiliate of either party.

  • Applicable Market Value has the meaning specified in Section 5.1.

  • multilateral trading facility or ‘MTF’ means a multilateral system, operated by an investment firm or a market operator, which brings together multiple third-party buying and selling interests in financial instruments – in the system and in accordance with non-discretionary rules – in a way that results in a contract in accordance with Title II of this Directive;

  • Secondary Market Transaction has the meaning set forth in Section 5.5.

  • Spot Market Energy means energy bought or sold by Market Participants through the PJM Interchange Energy Market at System Energy Prices determined as specified in Operating Agreement, Schedule 1, section 2, and the parallel provisions of Tariff, Attachment K-Appendix, section 2.