Consolidated Tape

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DEFINITION

An electronic program that provides continuous, real-time data on trading volume and price for exchange-traded securities. Through the consolidated tape, numerous major exchanges, including the Nasdaq, the Chicago Board Options Exchange and the New York Stock Exchange, report their trades and quotes. Securities often trade on more than one exchange, and the consolidated tape reports a security's trading activity for all of these exchanges, not just its primary exchange.

INVESTOPEDIA EXPLAINS

The consolidated tape was introduced in 1975 and is overseen by the Consolidated Tape Association. Consolidated tape data come from two major networks, which are administered by the NYSE (Network A) and NYSE Amex (Network B). Network A reports trades for securities listed on the NYSE while Network B reports trades from regional exchanges, electronic communication networks and the PHLX options exchange.


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