NBBO
E448134
NBBO (National Best Bid and Offer) is a U.S. securities market benchmark that represents the highest displayed buy price and lowest displayed sell price available across all exchanges for a given stock at a given time.
All labels observed (2)
| Label | Occurrences |
|---|---|
| National Best Bid and Offer | 2 |
| NBBO canonical | 1 |
How this entity was disambiguated
This entity first appeared as the object of triple T4500200 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.
NED1
Entity disambiguation (via context triple)
gpt-5-mini-2025-08-07
Target entity: NBBO Context triple: [Regulation NMS, defines, NBBO]
-
A.
NBO
NBO is the IATA airport code for Jomo Kenyatta International Airport, the main international gateway serving Nairobi, Kenya.
-
B.
NBS
NBS is the central bank of Slovakia, responsible for monetary policy, financial stability, and regulation of the country’s banking sector.
-
C.
Cboe BZX Exchange
Cboe BZX Exchange is a U.S. equities exchange operated by Cboe Global Markets, known for its electronic trading platform and competitive pricing structure.
-
D.
NBI
NBI is the ticker symbol for the Nasdaq Biotechnology Index, which tracks the performance of leading biotechnology and pharmaceutical companies listed on the Nasdaq stock market.
-
E.
NBI
NBI is a regional partnership among Nile Basin countries aimed at promoting cooperative development and sustainable management of the Nile River’s shared water resources.
- F. None of above. chosen
- G. Unsure - the case is ambiguous/there is not enough information to decide.
NED2
Entity disambiguation (via description)
gpt-5-mini-2025-08-07
Target entity: NBBO Target entity description: NBBO (National Best Bid and Offer) is a U.S. securities market benchmark that represents the highest displayed buy price and lowest displayed sell price available across all exchanges for a given stock at a given time.
-
A.
NBO
NBO is the IATA airport code for Jomo Kenyatta International Airport, the main international gateway serving Nairobi, Kenya.
-
B.
NBS
NBS is the central bank of Slovakia, responsible for monetary policy, financial stability, and regulation of the country’s banking sector.
-
C.
Cboe BZX Exchange
Cboe BZX Exchange is a U.S. equities exchange operated by Cboe Global Markets, known for its electronic trading platform and competitive pricing structure.
-
D.
NBI
NBI is a regional partnership among Nile Basin countries aimed at promoting cooperative development and sustainable management of the Nile River’s shared water resources.
-
E.
NBI
NBI is the ticker symbol for the Nasdaq Biotechnology Index, which tracks the performance of leading biotechnology and pharmaceutical companies listed on the Nasdaq stock market.
- F. None of above. chosen
Statements (49)
| Predicate | Object |
|---|---|
| instanceOf |
market microstructure concept
ⓘ
securities market benchmark ⓘ |
| abbreviationFor |
National Best Bid and Offer
ⓘ
linked to:
NBBO
|
| appliesTo |
U.S. equity markets
ⓘ
U.S. securities markets ⓘ listed stocks ⓘ |
| component |
best ask
ⓘ
best bid ⓘ best offer ⓘ |
| dataSource |
alternative trading systems with protected quotes
ⓘ
registered exchanges ⓘ |
| definedAs | the highest displayed bid and lowest displayed offer across all exchanges for a security at a given time ⓘ |
| excludes |
dark pool quotes
ⓘ
hidden liquidity ⓘ non-displayed orders ⓘ |
| fullName |
National Best Bid and Offer
ⓘ
linked to:
NBBO
|
| hasLimitation |
does not reflect odd-lot quotes in some regimes
ⓘ
may differ from prices on non-protected venues ⓘ may lag direct data feeds ⓘ |
| hasProperty |
displayed liquidity only
ⓘ
price-based benchmark ⓘ quote-based ⓘ time-varying ⓘ |
| includes |
best bid across exchanges
ⓘ
best offer across exchanges ⓘ displayed quotes from all protected venues ⓘ |
| jurisdiction |
United States
ⓘ
linked to:
United States of America
|
| measuredFor | individual securities ⓘ |
| objective | identify best displayed prices for investors ⓘ |
| output |
best bid price
ⓘ
best offer price ⓘ |
| regulatedBy |
U.S. Securities and Exchange Commission
ⓘ
linked to:
Securities and Exchange Commission
|
| relatedConcept |
National Market System
ⓘ
SIP feed ⓘ best execution ⓘ consolidated quote ⓘ direct exchange feeds ⓘ inside market ⓘ limit order book ⓘ midpoint price ⓘ protected quotation ⓘ |
| relatedRegulation |
Order Protection Rule
ⓘ
linked to:
Regulation NMS
Regulation NMS ⓘ |
| timeGranularity |
real-time
ⓘ
sub-second updates ⓘ |
| usedIn |
best execution analysis
ⓘ
order routing ⓘ retail order protection ⓘ transaction cost analysis ⓘ |
How these facts were elicited
The pipeline generated the facts above by prompting gpt-5.1 with this entity's name + description and the instruction below.
Instruction
You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10. # Requirements - If you don't know the subject at all, return an empty list. - If the subject is not a named entity, return an empty list. - Include at least one triple where predicate is "instanceOf". - Do not get too wordy. - Separate several objects into multiple triples with one object.
Input
Subject: NBBO Description of subject: NBBO (National Best Bid and Offer) is a U.S. securities market benchmark that represents the highest displayed buy price and lowest displayed sell price available across all exchanges for a given stock at a given time.
Referenced by (3)
Full triples — surface form annotated when it differs from this entity's canonical label.
linked to: NBBO