Consolidated Tape System (CTS)

The Consolidated Tape System (CTS) is a system that reports real-time trade data for securities listed on U.S. stock exchanges, providing a continuous stream of executed trades, including price, volume, and time of the transaction. It aggregates trade data from multiple exchanges into a single, consolidated source, giving investors and traders a comprehensive view of market activity. The CTS helps ensure transparency in stock market transactions by providing accurate and up-to-date trade information.

Example

When a trade is executed on the Nasdaq or NYSE, the details are reported through the CTS, allowing market participants to see the trade's price, volume, and time in real-time.