National Market System Plan - NMSP

DEFINITION of 'National Market System Plan - NMSP'

A nationwide system used in the United States for the selection and reservation of securities symbols, and also for the collection, processing and distribution of quotation and transaction information for exchange-listed securities. The National Market System Plan consists of plans in which FINRA - the largest independent regulator for U.S. securities firms - participates. These are the ISRA Plan, the CTA/CQ Plans, and the OTC UTP Plan. These NMS Plans are governed by section 11A of the 1934 Securities Exchange Act.

BREAKING DOWN 'National Market System Plan - NMSP'

The three NMS Plans in which FINRA participates are:

- The Intermarket Symbol Reservation Authority or ISRA Plan: this governs the establishment, operation and administration of a uniform system for the selection and reservation of one-to five-character securities symbols.

- Consolidated Tape Association/Consolidated Quotation Plan: governs the collection, processing and distribution of quotation and transaction information for exchange-listed securities, excluding those listed on the Nasdaq.

- OTC UTP Plan: governs the collection, processing and distribution of quotation and transaction information for issues listed on the Nasdaq Stock Exchange.

RELATED TERMS
  1. Form 211

    1. A form that must be completed by a market maker and filed ...
  2. Interdealer Quotation System

    The exchange system comprised of the Nasdaq (National Association ...
  3. Order Protection Rule

    One of the provisions of Regulation NMS that ensures that investors ...
  4. European Currency Quotation

    An indirect quotation in the foreign exchange markets whereby ...
  5. American Currency Quotation

    A direct quotation in the foreign exchange markets whereby the ...
  6. National Market System - NMS

    A system with two main functions: 1. To facilitate trading of ...
Related Articles
  1. Professionals

    The National Association of Securities Dealers Automated Quotation System (Nasdaq)

    FINRA Series 6 Exam Study Guide - The National Association of Securities Dealers Automated Quotation System (Nasdaq). Deals with types of security issues and stock quotation service levels
  2. Professionals

    Sources of Information

    Sources of Information
  3. Professionals

    Stock Plans

    Stock Plans
  4. Fundamental Analysis

    FINRA: How It Protects Investors

    Find out the history of FINRA, and how it's organized to monitor the markets and protect investors.
  5. Investing Basics

    Understanding NASDAQ

    NASDAQ is an acronym that stands for the National Association of Securities Dealers Automated Quotation system.
  6. Investing Basics

    3 Questions To Find Your Trading Plan

    Ask yourself these three questions to figure out which strategy is best for you.
  7. Professionals

    Securities Terminology

    NASAA Series 65: Section 17 Securities Terminology. In this section primary and secondary markets.
  8. Professionals

    Financial Planning: Process and Rules

    Financial Planning: Process and Rules
  9. Professionals

    Nonqualified Retirement Plans

    NASAA Series 65: Section 14 Nonqualified Retirement Plans. In this section 457 plan and sample questions.
  10. Professionals

    Types of Employee-Sponsored Plans

    Types of Employee-Sponsored Plans
RELATED FAQS
  1. What are my main rights as a 401(k) plan participant?

    Learn how under ERISA, 401(k) plan participants are guaranteed several important rights, including protections of their plan ... Read Answer >>
  2. What are the SEC (Securities And Exchange Commission) rules about OTC (over-the-counter) ...

    Find out how the Securities and Exchange Commission and the Financial Industry Regulatory Authority regulate trades on the ... Read Answer >>
  3. What are the steps to get a company listed on the OTCBB?

    The over-the-counter bulletin board (OTCBB) is a regulated quotation service for over-the-counter (OTC) securities. The securities ... Read Answer >>
  4. Are 457 plan withdrawals taxable?

    Learn how withdrawals from 457 deferred compensation plans are taxable but are not subject to the same rules and restrictions ... Read Answer >>
  5. What is the difference between a 401(k) plan and a 457 plan?

    Discover how 401(k) plans are privately offered employee retirement plans, while 457 plans are typically available to public ... Read Answer >>
  6. How do I invest in the Nasdaq or the NYSE? Is it even possible? Would I want to? ...

    The Nasdaq and the NYSE are stock exchanges that trade securities. Nasdaq stands for National Association of Securities Dealers ... Read Answer >>
Hot Definitions
  1. Law Of Demand

    A microeconomic law that states that, all other factors being equal, as the price of a good or service increases, consumer ...
  2. Cost Of Debt

    The effective rate that a company pays on its current debt. This can be measured in either before- or after-tax returns; ...
  3. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  4. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  5. Keynesian Economics

    An economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed ...
  6. Society for Worldwide Interbank Financial Telecommunications ...

    A member-owned cooperative that provides safe and secure financial transactions for its members. Established in 1973, the ...
Trading Center