Best Bid and Offer
Best Bid and Offer (BBO) is the top-of-book quotation showing the highest price a market participant is willing to pay to purchase a security and the lowest price at which a participant is willing to accept to trade it.
Example: If the best bid is $50.00 and the best offer is $50.05 for a stock, the BBO shows a $0.05 top-of-book spread that would be the reference for a potential trade at the current moment.
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