National Market System
The National Market System (NMS) is the national system for trading equities in the United States. The System includes all the facilities and entities which are used by broker-dealers to fulfill trade orders for securities. This includes: Federal regulators. Regulators of the US dollar: FDIC, OCC, FRBG, and FOMC. The Federal Deposit Insurance Corporation, the Office of the Comptroller of Currency, the Federal Reserve Board of Governors, and the Federal Open Market Committee all together impact the payment systems used for settlement on securities markets, both directly by regulations and indirectly via monetary policy which affects  the value of the dollar. Regulators of securities. The Commodity Futures Trading Commission (CFTC) is an important regulator for commodities futures and options. The U.S. Securities and Exchange Commission (SEC) is the most important federal regulator of corporate stocks, as well as other securities. National ticker tape services. One of the most important elements of the National Market System is that all qualified trades are reported onto a consolidated system.