National best bid and offer
Encyclopedia
National Best Bid and Offer (NBBO) is a term used in United States Securities and Exchange Commission
United States Securities and Exchange Commission
The U.S. Securities and Exchange Commission is a federal agency which holds primary responsibility for enforcing the federal securities laws and regulating the securities industry, the nation's stock and options exchanges, and other electronic securities markets in the United States...

 regulations. Brokers are required to execute customer trades at the best available ask price
Ask price
Ask price, also called offer price, offer, asking price, or simply ask, is the price a seller states she or he will accept for a good....

 when buying securities, and the best available bid price
Bid price
A bid price is the highest price that a buyer is willing to pay for a good. It is usually referred to simply as the "bid."In bid and ask, the bid price stands in contrast to the ask price or "offer", and the difference between the two is called the bid/ask spread.An unsolicited bid or purchase...

when selling securities.
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