What are "regional bid and ask prices"?

Question

I was reading Schwab's market data catalog. Excerpt:

NYSE Pro
New York Stock Exchange (NYSE) offers Level I quote data for all NYSE-listed stocks and ETFs, providing:
• Trades
• National Best Bid and Offer (NBBO)
• Regional Bid and Ask prices (stocks only)

I know what NBBO is, but what are "regional bid and ask prices"?

Bob Baerker · Answer

A regional stock exchange is a stock exchange not located in that country's primary financial center, and where regional companies are listed. Often, companies who cannot meet the strict listing requirements of a national exchange may qualify for a listing on a regional exchange, though a company that qualifies to be on a national exchange may also register for a listing on one or more regional exchanges.

Some examples would be:

Boston: Primary focus is mutual funds.
Chicago: Trades regionally listed stocks and stocks from other exchanges
Pacific: Known for derivatives

Some examples would be:

Boston: Primary focus is  mutual funds.
Chicago: Trades regionally listed stocks and stocks from other exchanges
Pacific: Known for derivatives

What are "regional bid and ask prices"?

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