The Consolidated Quotation System (CQS) is the electronic service that provides

quotation A quotation or quote is the repetition of a sentence, phrase, or passage from speech or text that someone has said or written. In oral speech, it is the representation of an utterance (i.e. of something that a speaker actually said) that is intro ...

information for

stock Stocks (also capital stock, or sometimes interchangeably, shares) consist of all the Share (finance), shares by which ownership of a corporation or company is divided. A single share of the stock means fractional ownership of the corporatio ...

traded on the

American Stock Exchange NYSE American, formerly known as the American Stock Exchange (AMEX), and more recently as NYSE MKT, is an American stock exchange situated in New York City. AMEX was previously a mutual organization, owned by its members. Until 1953, it was known ...

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock excha ...

, and other

regional stock exchange A regional stock exchange is a term used in the United States to describe stock exchanges that operate outside of the country's main financial center in New York City. A regional stock exchange operates in the trading of listed and Over-the-count ...

s in the United States and also includes issues traded by

FINRA The Financial Industry Regulatory Authority (FINRA) is a private American corporation that acts as a self-regulatory organization (SRO) that financial regulation, regulates member brokerage firms and exchange (organized market), exchange markets. ...

member firms in the third market.

Nasdaq The Nasdaq Stock Market (; National Association of Securities Dealers Automated Quotations) is an American stock exchange based in New York City. It is the most active stock trading venue in the U.S. by volume, and ranked second on the list ...

processes this data and provides it to its subscribers as the

Composite Quotation Service Composite or compositing may refer to: Materials * Composite material, a material that is made from several different substances ** Metal matrix composite, composed of metal and other parts ** Cermet, a composite of ceramic and metallic material ...

. 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 Plan effective. In August 1978, the CQS commenced full operation with the

Boston Boston is the capital and most populous city in the Commonwealth (U.S. state), Commonwealth of Massachusetts in the United States. The city serves as the cultural and Financial centre, financial center of New England, a region of the Northeas ...

Midwest The Midwestern United States (also referred to as the Midwest, the Heartland or the American Midwest) is one of the four census regions defined by the United States Census Bureau. It occupies the northern central part of the United States. It ...

, New York,

Philadelphia Philadelphia ( ), colloquially referred to as Philly, is the List of municipalities in Pennsylvania, most populous city in the U.S. state of Pennsylvania and the List of United States cities by population, sixth-most populous city in the Unit ...

and

Pacific The Pacific Ocean is the largest and deepest of Earth's five oceanic divisions. It extends from the Arctic Ocean in the north to the Southern Ocean, or, depending on the definition, to Antarctica in the south, and is bounded by the cont ...

Stock Exchanges reporting quotations in NYSE-listed securities.

NASDAQ The Nasdaq Stock Market (; National Association of Securities Dealers Automated Quotations) is an American stock exchange based in New York City. It is the most active stock trading venue in the U.S. by volume, and ranked second on the list ...

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 The Consolidated Tape Association (CTA) oversees the Securities Information Processor that disseminates real-time trade and quote information (market data) in New York Stock Exchange (NYSE) and American Stock Exchange (AMEX) listed securities (st ...

(CTA) is the operating authority for both the Consolidated Quotation System and the

Consolidated Tape System The Consolidated Tape System (CTS) is the United States 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. region ...

(CTS).

References

Financial markets Self-regulatory organizations in the United States {{finance-stub

History

See also

References