The Securities Information Processors (SIPs) are the regulatory bodies that process and consolidate all bid/ask quotes and trades from every trading exchange into a single, easily consumed data feed. There are currently two SIPs in the United States. The Consolidated Tape Association (CTA), which oversees the SIP for NYSE listed securities, and the Unlisted Trading Privileges (UTP), which does the same for Nasdaq listed securities. A committee of exchanges, referred to as “participants,” operate each SIP.
You can read more about the SIPs in our blog post - Understanding the SIPs
What are the Securities Information Processors (SIPs)?
Updated over 2 years ago