Consolidated Tape
What Is Consolidated Tape?
Consolidated tape is an electronic system that collates real-time exchange-listed data, like price and volume, and disperses it to investors.
Figuring out Consolidated Tape
Otherwise called ticker tape, consolidated tape gives continuous, real-time data created by different market centers, including stock exchanges, electronic communications networks (ECNs), and third-market [broker-dealers](/agent vendor).
Through the consolidated tape, different significant exchanges, including the New York Stock Exchange (NYSE), the NASDAQ, and the Chicago Board Options Exchange (CBOE), report trades and statements. Securities will frequently trade on more than one exchange; the consolidated tape reports not just the security's activity on its primary exchange yet the trading activity on the exchanges in general.
Consolidated tape is directed by the Consolidated Tape Association, and its listed securities data comes from two networks, network An and network B. Network A reports trades for securities listed on the NYSE, while network B reports trades from NYSE Amex, Bats, ECNs and regional exchanges.
Every entry on the consolidated tape shows the stock image for each company trading on the exchanges, for example, the number of shares traded (volume), the price per share for each trade, a triangle facing up or down, showing whether the price per share is above or below the previous day's closing price and another number appearance how much higher or lower than trade's price was than the last closing price. Green demonstrates a higher trading price and red shows a lower price; blue and white show no change.
Investors can follow overall market sentiment by keeping an eye on the consolidated tape. This data additionally assists specialized experts with assessing stock behavior as they chart the approaching data over the long haul.
History of Consolidated Tape and Ticker Tape
Consolidated tape comes from the term ticker tape. While tape is digital today, ticker tape got its name originally from the ticking sound produced by the mechanical machine which printed long strips of paper with stock statements. These mechanical ticker tapes gave way to electronic ones during the 1960s. The consolidated tape was presented in 1976.
The main telegraphic ticker tape was made by Edward Calahan in 1867. The great American creator Thomas Edison modified this by enhancing its original design and protected it in 1869. During the late nineteenth hundred years, most merchants who traded at the NYSE had offices found close by to guarantee they received a consistent supply of the tape and the latest exchange figures of stocks. Couriers, or cushion shovers, delivered these statements by running a circuit between the trading floor and specialists' offices. The more limited the distance between the trading floor and the brokerage, the more forward-thinking the statements were.
Features
- Every entry on the consolidated tape shows the stock image for each company trading on the exchanges, the number of shares traded (volume), the price per share for each trade, and the current price compared to the previous day's close.
- Consolidated tape is an electronic system that collates real-time exchange-listed data, like price and volume, and disperses it to investors.
- Through the consolidated tape, different significant exchanges, including the New York Stock Exchange, the NASDAQ, and the Chicago Board Options Exchange, report trades and statements.
