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.
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.
But the Times says the Republicans and the rightwing are using Feingold's effort to make Bush's critics appear unpatriotic and "to change the subject to fairy tales about Democratic leaders trying to impeach Mr.