Phrases & IdiomsPhrase guide

Categorized by Security

Categorized by Security is a current Regulation NMS defined term. This guide keeps the meaning limited to the report-level separation of orders by each included NMS stock.

Quick answer

Under Regulation NMS, categorized by security means dividing orders into separate categories for each NMS stock included in the report.

Key details

Canonical FormCategorized by Security
Core MeaningDividing orders into separate categories for each NMS stock included in a report.

Further guidance

History Boundary

This page reflects the current reviewed 17 CFR § 242.600 definition and should be rechecked if Regulation NMS changes.

Meaning

17 CFR § 242.600 defines categorized by security as separating orders for each NMS stock included in a report.

Usage Boundary

This is a reporting-category definition, not a general instruction to classify securities by asset class or industry.

Sources and evidence

Sources are shown with the role they play in this guide. Historical or style-sensitive claims are kept within the evidence boundary described above.

  1. 17 CFR § 242.600 — NMS security designation and definitions (opens in a new tab)Legal Information Institute, Cornell Law School · Current e-CFR text for Regulation NMS definitions, including average midpoint and spread metrics, protected quotation and trade-through terms.

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