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Topic
Nbbo
2 guides in Finabase Learn
- Bid-ask spread: what it is, what it costs and how to read it What the bid, ask and spread mean, how the NBBO and market makers set them, how to calculate what a spread costs you, and why liquid and illiquid stocks differ so much.
- Order routing and best execution: NBBO, Rule 611, PFOF and 606 Where a US stock order goes after you tap buy: the NBBO, Rule 611 order protection, FINRA best execution, payment for order flow and Rule 606/605 reports.
Educational content, not investment advice. Finabase Learn explains how markets and tools work. It does not recommend any security or strategy, and examples are for illustration only. Investing involves risk, including the loss of principal. Rules and figures are for the United States unless stated and can change — check the cited source before you act.