NBBO RICs conventions

roy10

Hey,

Dealing with the US stock equities:

1. which RIC's suffix should I add in order to get the NBBO information, from all 13 venues? Is it the same suffix for all stocks base (NYSE, Nasdaq, BATS)?

2. looking at MSFT.O, the exchange description is: "NASDAQ Global Select Consolidated". Does "Consolidated" mean NBBO against all venues or just regarding NASDAQ venues (Nasdaq, BX, PSX)?

3. Same issue with ABBV.K RIC (there is no ABBV.O RIC)

Tim Smith

Hi,

Very good questions. We have the level 1 information (and in some venues level 2) for both the consolidated tape service and we also split out the data into their seperate venues as well. So you can either have the consolidated BBO or the individual BBO.

To answer your question specifically:

1. The NBBO in the US comes from the Consolidated tape service and is based off the primary listing of the instrument. So for NYSE three letter tickers it would have no suffix (good example is IBM). Four letter tickers ends in .K (example UBER.K). For Nasdaq listed stocks all tickers use the .O suffix eg MSFT.O.

2. MSFT.O will get you all the venues that trade Microsoft, not just the Nasdaq owned venues. The Nasdaq description is a nod to the fact this is primary listed on Nasdaq and in their Global Select segment.

3. ABBV.K is listed on NYSE (ABBV.N is the NYSE only prices) there isnt a listing on Nasdaq (though you can trade the stock through Nasdaq if you wished, for prices on this NYSE listed instrument but traded on Nasdaq you need to use the suffix .TH eg ABBV.TH.

Let me know if there are any clarifications. For better responses to some of these content questions it is best to go through the Contact Us button and speak to the helpdesk.