OTCBB Glossary - B

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Best Ask

The lowest quoted offer of all competing Market Makers to sell a particular stock at any given time.

Best Bid

The highest quoted bid of all competing Market Makers to buy a particular stock at any given time.

Best Execution

FINRA Rule 5310 (Best Execution and Interpositioning) sets forth a member's obligation to obtain best execution of customer orders.

Bid (or Buy) Price

The price at which a Market Maker is willing to buy a security.

Blue-Sky Laws

State laws that require issuers of securities to register their offerings with the state before they can be sold to its residents. Most blue-sky laws include provisions relating to fraudulent activities and the licensing of securities professionals. Each state has a regulatory agency that administers the law — typically known as the State Securities Commissioner. National Market Securities, subject to higher qualifications standards, are exempted from registration requirements under most states' blue-sky laws. OTCBB issuers are not exempt from Blue Sky registration requirements.