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InvestHub.com's
Finance Dictionary and Glossary of Investment Terms

firm quotation  

Definition 1.

Any round lot bid or offer from a Market Maker other than a nominal quotation.
 

Definition 2.

The NASD requirement that a Market Maker execute an order from another broker/dealer at its displayed Nasdaq price for the normal unit of trading, or for its displayed size, whichever is greater. (See Market Maker)
 
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