{"url":"https://etfiq.com/funds/nbce/trading/","section":"funds","title":"NBCE Bid-Ask Spread, Liquidity and NAV Premium | ETFIQ","description":"NBCE trading costs and liquidity: spread, premium to NAV, capacity and dealers, from ETFIQ. Spread, premium to NAV, capacity and dealers, dated.","as_of":"Nov 5, 2025","structured_data":[{"@type":"Dataset","@id":"https://etfiq.com/funds/nbce/trading/#data","name":"NBCE trading costs and liquidity","description":"NBCE trading costs and liquidity: spread, premium to NAV, capacity and dealers, from ETFIQ. Spread, premium to NAV, capacity and dealers, dated.","url":"https://etfiq.com/funds/nbce/trading/","dateModified":"2025-11-05","creator":{"@id":"https://etfiq.com/#org"},"license":"https://etfiq.com/license/","isAccessibleForFree":true,"creditText":"ETFIQ (etfiq.com)","variableMeasured":["30-day median bid-ask spread","Premium or discount to NAV","Capacity","Active authorized participants","IQ Liquidity Score","Cost to trade by order size"],"distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/trading-score.json"}],"publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published"},{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Who is the AP for NBCE?","acceptedAnswer":{"@type":"Answer","text":"NBCE\u2019s latest Form N-CEN, for the period ending Aug 31, 2025, lists 13 authorized participants (APs), and 0 created or redeemed shares."}},{"@type":"Question","name":"Who is the LMM for NBCE?","acceptedAnswer":{"@type":"Answer","text":"NBCE\u2019s lead market maker (LMM) on NYSE Arca is Susquehanna Securities, LLC. Lead market maker per NYSE Arca, as of Oct 23, 2026."}}]},{"@type":"InvestmentFund","@id":"https://etfiq.com/funds/nbce#fund","name":"Neuberger China Equity ETF","alternateName":"NBCE","url":"https://etfiq.com/funds/nbce","identifier":[{"@type":"PropertyValue","propertyID":"tickerSymbol","value":"NBCE"}],"mainEntityOfPage":{"@id":"https://etfiq.com/funds/nbce#webpage"}},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"NBCE","item":"https://etfiq.com/funds/nbce"},{"@type":"ListItem","position":3,"name":"Trading","item":"https://etfiq.com/funds/nbce/trading/"}]},{"@type":"WebPage","name":"NBCE Bid-Ask Spread, Liquidity and NAV Premium","description":"NBCE trading costs and liquidity: spread, premium to NAV, capacity and dealers, from ETFIQ. Spread, premium to NAV, capacity and dealers, dated.","url":"https://etfiq.com/funds/nbce/trading/","dateModified":"2025-11-05","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".faq"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":2918,"truncated":false,"content":"ETFIQ / NBCE / Trading \n \n As of Nov 5, 2025. Rebuilt every trading night.\n NBCE bid-ask spread and liquidity\n IQ Liquidity Score\n Not scored, 1 of 6 measured.\n A fixed 0 to 100 scale of trading conditions, the same anchors for every fund; 100 is the easiest to trade. It measures how cheaply and reliably the fund can be bought and sold, not whether to own it. How the score is built \n Cost to trade Not measured: the issuer's 30-day median spread is not read for this fund Capacity Not measured: 8.8% of its long weight could be measured; the largest part not measured is foreign Price fidelity Not measured: no closing premium is held for this fund Primary market, 0.0 0 active dealers of 13, N-CEN to Aug 31, 2025 Bad-day behaviour Not measured: no daily closing premium is held for this fund Depth Not measured: needs trade and quote data (Phase 2) \n Capacity\n Not measured: 8.8% of its long weight could be measured; the largest part not measured is foreign.\n Dealers\n 0 active of 13 authorized participants, in the year to Aug 31, 2025 (Form N-CEN filed Nov 5, 2025).\n How to trade NBCE\n When ETF spreads are usually widest in the first minutes after the open and the last minutes before the close. ETFIQ measures this fund\u2019s own day once it has trade data. Coming with trade data\n Spread through the day, buyers against sellers, an estimate of retail flow, large trades and the closing auction\u2019s share, each once ETFIQ has trade and quote data.\n Questions people ask\n Who is the AP for NBCE? NBCE\u2019s latest Form N-CEN, for the period ending Aug 31, 2025, lists 13 authorized participants (APs), and 0 created or redeemed shares. Who is the LMM for NBCE? NBCE\u2019s lead market maker (LMM) on NYSE Arca is Susquehanna Securities, LLC. Lead market maker per NYSE Arca, as of Oct 23, 2026. Sources and dates\n Dealers: Form N-CEN, the year to Aug 31, 2025, accession 0001410368-25-021163.\n Where to next\n NBCE fund page ETF trading costs and liquidity Limit orders vs market orders for ETFs Why low volume does not mean illiquid How the IQ Liquidity Score is built Compare NBCE with another fund The score measures trading conditions, not the fund. ETFIQ is an independent publisher, not an adviser, and makes no recommendations. Standards and sources \n Cite this page. ETFIQ, NBCE trading: cost, capacity, premium and dealers, data as of Nov 5, 2025. https://etfiq.com/funds/nbce/trading/ Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data .\n Other forms Plain ETFIQ, NBCE trading: cost, capacity, premium and dealers, data as of Nov 5, 2025. https://etfiq.com/funds/nbce/trading/ APA ETFIQ. (Nov 5, 2025). NBCE trading: cost, capacity, premium and dealers. Retrieved from https://etfiq.com/funds/nbce/trading/ Markdown [NBCE trading: cost, capacity, premium and dealers (ETFIQ, Nov 5, 2025)](https://etfiq.com/funds/nbce/trading/)","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, NBCE trading: cost, capacity, premium and dealers, data as of Nov 5, 2025. https://etfiq.com/funds/nbce/trading/"}