Consolidated Quotation System
Encyclopedia
The Consolidated Quotation System (CQS) is the electronic service that provides quotation
information for stock
traded on the American Stock Exchange
, New York Stock Exchange
, and other regional stock exchange
s in the United States
and also includes issues traded by FINRA member firms in the third market. Nasdaq processes this data and provides it to its subscribers as the Composite Quotation Service. The initials CQS may be used either for the exchange system or the Nasdaq service.
effective. In August 1978, the CQS commenced full operation with the Boston
, Midwest
, New York
, Philadelphia
and Pacific
Stock Exchanges reporting quotations in NYSE-listed securities.
NASDAQ
joined the CQ Plan at the end of 1978 and began to disseminate quotations over CQS in early 1979.
In November 1979, the Cincinnati Stock Exchange became a CQ Plan Participant and commenced disseminating quotations in mid-1980.
The Consolidated Tape Association
(CTA) is the operating authority for both the Consolidated Quotation System and the Consolidated Tape System
(CTS).
Financial quote
A financial quotation refers to specific market data relating to a security or commodity. While the term quote specifically refers to the bid price or ask price of an instrument, it may be more generically used to relate to the last price which the security traded at...
information for stock
Stock
The capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors...
traded on the American Stock Exchange
American Stock Exchange
NYSE Amex Equities, formerly known as the American Stock Exchange is an American stock exchange situated in New York. AMEX was a mutual organization, owned by its members. Until 1953, it was known as the New York Curb Exchange. On January 17, 2008, NYSE Euronext announced it would acquire the...
, New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
, and other regional stock exchange
Regional stock exchange
A regional stock exchange is a term used in the United States to describe stock exchanges that operates outside of the country's main financial center in New York City...
s in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
and also includes issues traded by FINRA member firms in the third market. Nasdaq processes this data and provides it to its subscribers as the Composite Quotation Service. The initials CQS may be used either for the exchange system or the Nasdaq service.
History
In July 1978, the U.S. Securities and Exchange Commission declared the Consolidated Quotation PlanNational market system plan
A national market system plan is a structured method of transmitting securities transactions in real-time. In the United States, national market systems are governed by section 11A of the Securities Exchange Act of 1934....
effective. In August 1978, the CQS commenced full operation with the Boston
Boston Stock Exchange
The Boston Stock Exchange is a regional stock exchange located in Boston, Massachusetts. The third-oldest stock exchange in the United States, it was founded in 1834...
, Midwest
Chicago Stock Exchange
The Chicago Stock Exchange is a stock exchange in Chicago, Illinois, USA. The exchange is a national securities exchange and self-regulated organization, which operates under the oversight of the U.S. Securities and Exchange Commission . The Chicago Stock Exchange is the third most active stock...
, New York
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
, Philadelphia
Philadelphia Stock Exchange
Philadelphia Stock Exchange , now known as NASDAQ OMX PHLX, is the oldest stock exchange in the United States, founded in 1790. It is now owned by NASDAQ OMX and located at 1900 Market Street, in Center City Philadelphia.-History:...
and Pacific
Pacific Exchange
The Pacific Exchange was, until 2001, a regional stock exchange with a main exchange floor and building in San Francisco, California, USA and a branch in Los Angeles, California, USA. Its history began with the founding of the San Francisco Stock and Bond Exchange in 1882 and the Los Angeles Oil...
Stock Exchanges reporting quotations in NYSE-listed securities.
NASDAQ
NASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
joined the CQ Plan at the end of 1978 and began to disseminate quotations over CQS in early 1979.
In November 1979, the Cincinnati Stock Exchange became a CQ Plan Participant and commenced disseminating quotations in mid-1980.
The Consolidated Tape Association
Consolidated Tape Association
The Consolidated Tape Association oversees the dissemination of real-time trade and quote information in New York Stock Exchange and American Stock Exchange listed securities...
(CTA) is the operating authority for both the Consolidated Quotation System and the Consolidated Tape System
Consolidated Tape System
The Consolidated Tape System is the electronic service, introduced in April 1976, that provides last sale and trade data for issues admitted to dealings on the American Stock Exchange, New York Stock Exchange, and U.S...
(CTS).