Using Market Data

When we talk about a security’s “market price,” we’re referring to the price of the most recent trade for that security. Robinhood partners with Nasdaq to provide real-time last sale prices via Nasdaq Last Sale. With more liquidity than any other U.S. exchange, the Nasdaq is one of the most accurate sources for real time trade data.

You can find consolidated real-time market data by pressing “Market Price” on the trade entry screen. Consolidated real-time market data includes the last sale, best bid, and best ask price across all U.S exchanges. Each quote includes the price, quantity of shares, and the exchange on which it is available.

Real-time market data provides insightful information into the supply and demand for a stock just before you place a trade. The bid shows the highest price a buyer is willing to pay, the associated number of shares at that price, and the specific stock exchange that quote comes from. Similarly, the ask represents the best offer from a seller on the market. Federal regulations require that your order executions fill at the National Best Bid or Offer (NBBO), which is the best available bid (for sells) or the best available ask (for buys) at the time your trade is executed.