Most US retail stock orders never touch an exchange. Wholesalers fill them, pay your broker for the flow, and the NBBO sets the floor on your price.
🔗 danholloran.me/posts/where-...
#investing #stocks
🔗 danholloran.me/posts/where-...
#investing #stocks
Where Your Stock Order Actually Goes: Wholesalers, PFOF, and the NBBO
Most retail stock orders in the US never touch an exchange. Here is how wholesalers, payment for order flow, and the NBBO decide what price you actually get, and what changed in 2026.
danholloran.me
October 8, 2026 at 4:15 PM
Most US retail stock orders never touch an exchange. Wholesalers fill them, pay your broker for the flow, and the NBBO sets the floor on your price.
🔗 danholloran.me/posts/where-...
#investing #stocks
🔗 danholloran.me/posts/where-...
#investing #stocks
Archivo miércoles 09/09:
🤣 «Una ruta gigante de Jupiter de NVDA a SPCX pasando por Fartcoin, fijando el NBBO».
https://x.com/WhisprNews/status/2097738898679943190
🤣 «Una ruta gigante de Jupiter de NVDA a SPCX pasando por Fartcoin, fijando el NBBO».
https://x.com/WhisprNews/status/2097738898679943190
September 13, 2026 at 4:34 PM
Archivo miércoles 09/09:
🤣 «Una ruta gigante de Jupiter de NVDA a SPCX pasando por Fartcoin, fijando el NBBO».
https://x.com/WhisprNews/status/2097738898679943190
🤣 «Una ruta gigante de Jupiter de NVDA a SPCX pasando por Fartcoin, fijando el NBBO».
https://x.com/WhisprNews/status/2097738898679943190
🤣 «Una ruta gigante de Jupiter de NVDA a SPCX pasando por Fartcoin, fijando el NBBO».
https://x.com/WhisprNews/status/2097738898679943190
https://x.com/WhisprNews/status/2097738898679943190
September 10, 2026 at 5:12 AM
🤣 «Una ruta gigante de Jupiter de NVDA a SPCX pasando por Fartcoin, fijando el NBBO».
https://x.com/WhisprNews/status/2097738898679943190
https://x.com/WhisprNews/status/2097738898679943190
🚀 Yakovenko propone que en #Jupiter la ruta de $NVDA a $SPCX pase por #Fartcoin y que sea la #memecoin la que fije el NBBO para los brokers de EE.UU. Su argumento: «un agregador elige la ruta más barata, no la más respetable».
September 9, 2026 at 5:28 PM
🚀 Yakovenko propone que en #Jupiter la ruta de $NVDA a $SPCX pase por #Fartcoin y que sea la #memecoin la que fije el NBBO para los brokers de EE.UU. Su argumento: «un agregador elige la ruta más barata, no la más respetable».
Dark pool, Payment for order flow et NBBO 😎
www.youtube.com/watch?v=aGH7...
www.youtube.com/watch?v=aGH7...
La moitié de Wall Street a quitté la Bourse. Personne n'a rien vu
YouTube video by Xavier Delmas
www.youtube.com
September 2, 2026 at 7:51 PM
Dark pool, Payment for order flow et NBBO 😎
www.youtube.com/watch?v=aGH7...
www.youtube.com/watch?v=aGH7...
➤ They contend that the NBBO (National Best Bid and Offer) framework, designed for traditional exchanges, doesn't translate to decentralized finance's algorithmic pricing and continuous operation.
August 22, 2026 at 7:45 AM
➤ They contend that the NBBO (National Best Bid and Offer) framework, designed for traditional exchanges, doesn't translate to decentralized finance's algorithmic pricing and continuous operation.
Hyperliquid, Douro Labs Urge SEC to Repeal Reg NMS Rule 611
Aug 18 2026 05:44 UTC
Hyperliquid Policy Center and Douro Labs backed the SEC's June 11 proposal to rescind Rule 611, arguing the NBBO does not translate to onchain markets.
#reg-nms-rule-611 #hyperliquid #douro-labs #sec #nbbo
Aug 18 2026 05:44 UTC
Hyperliquid Policy Center and Douro Labs backed the SEC's June 11 proposal to rescind Rule 611, arguing the NBBO does not translate to onchain markets.
#reg-nms-rule-611 #hyperliquid #douro-labs #sec #nbbo
August 22, 2026 at 7:45 AM
Hyperliquid, Douro Labs Urge SEC to Repeal Reg NMS Rule 611
Aug 18 2026 05:44 UTC
Hyperliquid Policy Center and Douro Labs backed the SEC's June 11 proposal to rescind Rule 611, arguing the NBBO does not translate to onchain markets.
#reg-nms-rule-611 #hyperliquid #douro-labs #sec #nbbo
Aug 18 2026 05:44 UTC
Hyperliquid Policy Center and Douro Labs backed the SEC's June 11 proposal to rescind Rule 611, arguing the NBBO does not translate to onchain markets.
#reg-nms-rule-611 #hyperliquid #douro-labs #sec #nbbo
Hyperliquid Policy Center backs SEC Rule 611 repeal
Aug 18 2026 07:25 UTC
Hyperliquid Policy Center and Douro Labs backed repealing SEC Rule 611 while seeking clearer best execution rules for onchain markets.
#sec-rule-611 #hyperliquid-policy-center #douro-labs #regulation-nms #nbbo
Aug 18 2026 07:25 UTC
Hyperliquid Policy Center and Douro Labs backed repealing SEC Rule 611 while seeking clearer best execution rules for onchain markets.
#sec-rule-611 #hyperliquid-policy-center #douro-labs #regulation-nms #nbbo
August 22, 2026 at 8:11 AM
Hyperliquid Policy Center backs SEC Rule 611 repeal
Aug 18 2026 07:25 UTC
Hyperliquid Policy Center and Douro Labs backed repealing SEC Rule 611 while seeking clearer best execution rules for onchain markets.
#sec-rule-611 #hyperliquid-policy-center #douro-labs #regulation-nms #nbbo
Aug 18 2026 07:25 UTC
Hyperliquid Policy Center and Douro Labs backed repealing SEC Rule 611 while seeking clearer best execution rules for onchain markets.
#sec-rule-611 #hyperliquid-policy-center #douro-labs #regulation-nms #nbbo
Hyperliquid Policy Center urges SEC to repeal Rule 611 & clarify "best execution" for on-chain markets. Advocates for transparent price feeds (like Pyth) when NBBO isn't feasible. Tokenized equities should still follow Reg NMS.
#crypto #blockchain #news
#crypto #blockchain #news
August 17, 2026 at 12:17 PM
Hyperliquid Policy Center urges SEC to repeal Rule 611 & clarify "best execution" for on-chain markets. Advocates for transparent price feeds (like Pyth) when NBBO isn't feasible. Tokenized equities should still follow Reg NMS.
#crypto #blockchain #news
#crypto #blockchain #news
NBBO Unlocked: How to Secure the Best Price in Trading
Curious how one flicker of data can save you dollars per share? Click now to uncover the power of NBBO, your silent pricing guardian. Learn how this game-changing transparency tool empowers traders, fintech startups, and investors to secure…
Curious how one flicker of data can save you dollars per share? Click now to uncover the power of NBBO, your silent pricing guardian. Learn how this game-changing transparency tool empowers traders, fintech startups, and investors to secure…
NBBO Unlocked: How to Secure the Best Price in Trading
Curious how one flicker of data can save you dollars per share? Click now to uncover the power of NBBO, your silent pricing guardian. Learn how this game-changing transparency tool empowers traders, fintech startups, and investors to secure the best bid and offer—trade smarter today!
kurums.com
June 20, 2025 at 11:00 AM
NBBO Unlocked: How to Secure the Best Price in Trading
Curious how one flicker of data can save you dollars per share? Click now to uncover the power of NBBO, your silent pricing guardian. Learn how this game-changing transparency tool empowers traders, fintech startups, and investors to secure…
Curious how one flicker of data can save you dollars per share? Click now to uncover the power of NBBO, your silent pricing guardian. Learn how this game-changing transparency tool empowers traders, fintech startups, and investors to secure…
تُثبت النظرية النسبية الخاصة أن NBBO—حجر الزاوية في تنظيم أسواق الأسهم الأمريكية—غير محدد فيزيائيًا عبر البورصات المنتشرة جغرافيًا. ويُتيح الغموض السعري المرتبط بالإطار المرجعي استخراج ما يقارب 5 مليارات دولار سنويًا من خلال المراجحة الزمنية من قِبَل المشاركين في خلاصات البيان...
التزامن المهندس: الاستحالة الفيزيائية لاكتشاف سعر NBBO عبر بورصات مفصولة فضائيًا
iq.fp2.dev
March 5, 2026 at 6:59 AM
تُثبت النظرية النسبية الخاصة أن NBBO—حجر الزاوية في تنظيم أسواق الأسهم الأمريكية—غير محدد فيزيائيًا عبر البورصات المنتشرة جغرافيًا. ويُتيح الغموض السعري المرتبط بالإطار المرجعي استخراج ما يقارب 5 مليارات دولار سنويًا من خلال المراجحة الزمنية من قِبَل المشاركين في خلاصات البيان...
Securitize to Launch Onchain Trading for Tokenized Public Stocks
Securitize unveils the first compliant onchain trading experience for natively tokenized public stocks, enabling real ownership and 24/7 trading through a regulated Web3 platform. The system blends NBBO-aligned execution during…
Securitize unveils the first compliant onchain trading experience for natively tokenized public stocks, enabling real ownership and 24/7 trading through a regulated Web3 platform. The system blends NBBO-aligned execution during…
Securitize to Launch Onchain Trading for Tokenized Public Stocks
Securitize unveils the first compliant onchain trading experience for natively tokenized public stocks, enabling real ownership and 24/7 trading through a regulated Web3 platform. The system blends NBBO-aligned execution during market hours with AMM-based after-hours pricing while maintaining regulatory compliance.
richbycoin.com
December 17, 2025 at 12:55 PM
Securitize to Launch Onchain Trading for Tokenized Public Stocks
Securitize unveils the first compliant onchain trading experience for natively tokenized public stocks, enabling real ownership and 24/7 trading through a regulated Web3 platform. The system blends NBBO-aligned execution during…
Securitize unveils the first compliant onchain trading experience for natively tokenized public stocks, enabling real ownership and 24/7 trading through a regulated Web3 platform. The system blends NBBO-aligned execution during…
La relatividad especial demuestra que el NBBO —piedra angular de la regulación bursátil estadounidense— es físicamente indefinido entre bolsas geográficamente separadas. La ambigüedad de precios dependiente del marco de referencia permite la extracción de aproximadamente 5.000...
Simultaneidad Diseñada: Imposibilidad Física del Descubrimiento de Precios NBBO en Bolsas Separadas Espacialmente
iq.fp2.dev
March 5, 2026 at 6:56 AM
La relatividad especial demuestra que el NBBO —piedra angular de la regulación bursátil estadounidense— es físicamente indefinido entre bolsas geográficamente separadas. La ambigüedad de precios dependiente del marco de referencia permite la extracción de aproximadamente 5.000...
תורת היחסות הפרטית מוכיחה כי ה-NBBO—אבן הפינה של רגולציית שוק המניות האמריקאי—אינו מוגדר פיזיקלית בין בורסות מפוזרות גאוגרפית. אי-בהירות מחיר התלויה במסגרת הייחוס מאפשרת חילוץ ארביטראז' זמן השהייה בשיעור של כ-5 מיליארד דולר בשנה על ידי משתתפים עם גישה ישירה לנתונים.
סימולטניות מהונדסת: הבלתי אפשרי פיזיקלית של גילוי מחיר NBBO בין בורסות מופרדות במרחב
iq.fp2.dev
March 5, 2026 at 7:00 AM
תורת היחסות הפרטית מוכיחה כי ה-NBBO—אבן הפינה של רגולציית שוק המניות האמריקאי—אינו מוגדר פיזיקלית בין בורסות מפוזרות גאוגרפית. אי-בהירות מחיר התלויה במסגרת הייחוס מאפשרת חילוץ ארביטראז' זמן השהייה בשיעור של כ-5 מיליארד דולר בשנה על ידי משתתפים עם גישה ישירה לנתונים.
The NBBO — the National Best Bid and Offer, the official best price on your screen — still governs where trades clear. But when four in ten equity trades match in the dark, price discovery is partly shaped by flows you cannot see. You paid the spread. The house did not.
July 16, 2026 at 8:30 AM
The NBBO — the National Best Bid and Offer, the official best price on your screen — still governs where trades clear. But when four in ten equity trades match in the dark, price discovery is partly shaped by flows you cannot see. You paid the spread. The house did not.
Thuyết tương đối hẹp chứng minh rằng NBBO—nền tảng cốt lõi của quy định thị trường chứng khoán Mỹ—không được xác định về mặt vật lý trên các sàn giao dịch phân tán theo địa lý. Sự mơ hồ về giá phụ thuộc vào hệ quy chiếu cho phép các thành viên nhận dữ liệu trực tiếp khai thác ...
Đồng Thời Hóa Có Chủ Đích: Sự Bất Khả Thi Về Mặt Vật Lý của Khám Phá Giá NBBO Trên Các Sàn Giao Dịch Tách Biệt Kiểu Không Gian
iq.fp2.dev
March 5, 2026 at 6:59 AM
Thuyết tương đối hẹp chứng minh rằng NBBO—nền tảng cốt lõi của quy định thị trường chứng khoán Mỹ—không được xác định về mặt vật lý trên các sàn giao dịch phân tán theo địa lý. Sự mơ hồ về giá phụ thuộc vào hệ quy chiếu cho phép các thành viên nhận dữ liệu trực tiếp khai thác ...
特殊相対性理論により、米国株式規制の礎であるNBBOは、地理的に分離された取引所間において物理的に未定義であることが証明される。フレーム依存の価格曖昧性により、直接フィード参加者による年間約50億ドルのレイテンシー裁定抽出が可能となっている。
#特殊相対性理論 #レイテンシー裁定 #分散システム
#特殊相対性理論 #レイテンシー裁定 #分散システム
工学的同時性：空間的に分離された取引所間におけるNBBO価格発見の物理的不可能性
iq.fp2.dev
March 5, 2026 at 6:56 AM
#제로클럽빈티지
(NBB) wool muffler
Natural beauty basic사의 머플러입니다.
이탈리아산의 부드러운 램스울 100% 소재감이며
깨끗한 상태 유지중입니다.
줄무늬 패턴이 귀엽습니다.
zeroclubvtg.com/product/nbbo...
(NBB) wool muffler
Natural beauty basic사의 머플러입니다.
이탈리아산의 부드러운 램스울 100% 소재감이며
깨끗한 상태 유지중입니다.
줄무늬 패턴이 귀엽습니다.
zeroclubvtg.com/product/nbbo...
November 19, 2024 at 9:21 AM
#제로클럽빈티지
(NBB) wool muffler
Natural beauty basic사의 머플러입니다.
이탈리아산의 부드러운 램스울 100% 소재감이며
깨끗한 상태 유지중입니다.
줄무늬 패턴이 귀엽습니다.
zeroclubvtg.com/product/nbbo...
(NBB) wool muffler
Natural beauty basic사의 머플러입니다.
이탈리아산의 부드러운 램스울 100% 소재감이며
깨끗한 상태 유지중입니다.
줄무늬 패턴이 귀엽습니다.
zeroclubvtg.com/product/nbbo...
विशेष सापेक्षता सिद्ध करती है कि NBBO—अमेरिकी इक्विटी विनियमन की आधारशिला—भौगोलिक रूप से पृथक एक्सचेंजों में भौतिक रूप से अपरिभाषित है। फ्रेम-आश्रित मूल्य अस्पष्टता, प्रत्यक्ष-फीड प्रतिभागियों द्वारा लगभग $5 बिलियन/वर्ष की विलंबता आर्बिट्राज निष्कर्षण को संभव बनाती है।
अभियांत्रित एकसमयता: दिक्-समान पृथक एक्सचेंजों में NBBO मूल्य खोज की भौतिक असंभवता
iq.fp2.dev
March 5, 2026 at 6:57 AM
विशेष सापेक्षता सिद्ध करती है कि NBBO—अमेरिकी इक्विटी विनियमन की आधारशिला—भौगोलिक रूप से पृथक एक्सचेंजों में भौतिक रूप से अपरिभाषित है। फ्रेम-आश्रित मूल्य अस्पष्टता, प्रत्यक्ष-फीड प्रतिभागियों द्वारा लगभग $5 बिलियन/वर्ष की विलंबता आर्बिट्राज निष्कर्षण को संभव बनाती है।
Private equity is buying up Maine mobile home parks and jacking up the cost of rent and fees. www.youtube.com/watch?v=NBbo...
Private equity is buying up Maine mobile home parks and jacking up the cost of rent and fees.
YouTube video by Graham Platner for Senate
www.youtube.com
May 16, 2026 at 5:23 AM
Private equity is buying up Maine mobile home parks and jacking up the cost of rent and fees. www.youtube.com/watch?v=NBbo...