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Consolidated Best Bid and Offer

The consolidation of all national markets' best quotations (on both sides) as reflected in the calculation and dissemination of the...

Consolidated Bid and Ask Spread

The consolidation of all national markets' bid-ask spread quotations as reflected in the calculation and dissemination of the highest firm...

Capture

An algorithm (trading algorithm) that seeks liquidity at multiple levels of trading urgency. Traders using a capture (as a liquidity...

Agency Capture

A situation that arises when regulatory policies and action often favor the industry being regulated at the expense of the...

Regulatory Capture

A situation that arises when regulatory policies and action often favor the industry being regulated at the expense of the...