National Best Bid Offer (NBBO)
The NBBO feed is the official national best bid offer for countries where it is supported. This is defined as the Consolidated Tape in the US and in Canada. The NBBO is a Level 1 quote dataset offering a tick-by-tick view of the order book. It allows market participants to understand how much liquidity is available for a given instrument within a specific regulatory environment.
Product Overview:
- Historical feed providing the best bid and offer across all applicable venues in a given regulatory environment
- Timestamps at or exceeding venue matching engine precision (nanosecond or microsecond)
Example Use Cases:
- Buy-side - TCA Benchmarking and Best Execution.
- Sell-side - TCA Benchmarking and Best Execution.
- Exchanges - Venue price & liquidity quality analysis.
Product Description:
- Asset Classes: Equities and ETFs
- Coverage: Americas
- Data available from: 2015
- Delivery mechanisms: API / Azure Storage / S3 / SFTP / Snowflake
- Available via: BMLL Data Feed and BMLL Data Lab
