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Firm Quote |
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Firm quote A definite price on a round-lot bid or offer declared by a market maker on a given security and not identified as a nominal quotation (therefore is not negotiable). Firm Quote A bid or ask made by a dealer or market maker that is not up for negotiation. For example, if a dealer offers to sell 5,000 shares of a stock at $10 per share and the quote is firm, then potential buyers need not come back with a counteroffer of $8 per share. They can either take the offer or not. See also: Nominal quote.
Firm quote. A firm quote includes a bid and ask price at which a market maker is willing to trade a specific quantity -- 100 shares of stock, for example. For example, a firm quote of 42.50/42.70 means that the market maker will pay $42.50 for 100 shares and is willing to sell them for $42.70. But those prices would not apply to trades larger than 100 shares. Then prices would have to be negotiated. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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