Business and Personal Finance Dictionary

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• INTERMARKET TRADING SYSTEM (ITS)
  
  The ITS is a video-computer link between members of the National Market System (NMS), which was created in 1975 to carry out a congressional mandate to increase competition in securities trading. It connects National Association of Securities Dealers (NASD) market makers, and New York Stock Exchange (NYSE), American Stock Exchange (AMEX), and regional exchange specialists who make a market in the same security. The electronic system displays bid and ask prices for securities in each of the markets so that brokers are able to trade in the market where they can get the best price.
  
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