That's literally a contradiction. Look up what NBBO actually means. | Hacker News

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		Blackthorn on March 16, 2018 \| parent \| context \| favorite \| on: Stock trade app Robinhood raising at $5B+, up 4X i... That's literally a contradiction. Look up what NBBO actually means.

wocram on March 16, 2018 [–]

It's actually more complicated, nbbo governs quotes but there are a few other things that affect your actual trade price such as exchange fees and price improvement.

For example, every exchange can have the same quote, but a different liquidity fee.

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