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Refers to a bid or offer that cannot be executed without confirmation from the customer. In other words, not firm, but a bid/offer that needs additional information/confirmation before becoming firm and is therefore still negotiable.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
Describing a bid or offer for a security that is still negotiable. That is, a subject bid/offer is not firm and requires confirmation before a transaction involving it can be executed.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved