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What is National Best Bid and Offer (NBBO)?

NBBO (National Level 1) is a market data that covers market quotes (latest price, tick by tick, and trading volume) of 16 mainstream exchanges and the US Financial Industry Regulatory Authority (FINRA) Trade Reporting Facility (TRF) in the US. Investors can see the best bids and asks, time, sales, and real-time price movements for the 16 exchanges.

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