nxxt, page-6

Ians, or anyone else still looking for a better explanation,

just noticed NXXT is in comsec's FAQ section.....

"What does “NXXT” mean in course of sales?

NXXT is a type of 'crossing' or 'crossed trade' (known as an NBBO Crossing) that your broker (CommSec) reports to the ASX. A 'crossing' or 'crossed trade' is when a trade has resulted from matching a buyer and a seller of a particular stock, and the buyer and seller are clients of the same broker. An NXXT is a crossing that has occurred at the current NBBO (see definition below) price and has been reported to the ASX.

This type of trade typically occurs when CommSec has managed to automatically match your order with another CommSec client order through the CommSec Crossing System.

Does it affect the price of my trade?
As the crossing has been reported at a price "at or within" the current NBBO price, you are not disadvantaged in any way. In fact, your order may have been executed faster than it would have been if sent to public trading venues, or at a price better than that listed on the public trading venues.

NBBO definition:
NBBO stands for the National Best Bid and Offer Prices. The national best bid price is the highest price that all buyers are willing to pay for a particular stock, regardless of what trading venue it is being published on. Similarly, the national best offer price is the lowest price that all sellers are willing to accept for a particular stock.



You can find more information about NBBO Crossings on the ASX website: https://www.asxonline.com/intradoc-cgi/groups/trading_and_market_information/documents/communications/asx_032118.pdf
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