The Sub-Penny Rule and Price Improvement
Rule 612, the sub-penny rule, bans quotes in fractions of a cent above $1.00. Here is why your fill still printed at four decimals, with real tape data.
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What Is the NBBO? National Best Bid and Offer
The NBBO is the national best bid and offer, the one consolidated stock quote your broker must match or beat. See how fast it updates, from real tick data.