Series 53: Out-firm Quotes

Taken from our Series 53 Online Guide

Out-firm Quotes

Dealers may offer firm quotes with attached restrictions. A quote may be good for one hour or a day, for example, it may require immediate execution. Firm quotes may also have a recall provision. An out-firm, or firm with recall, quote will be firm for a specified period, usually an hour, with a five minute recall provision. The recall provision allows the party supplying the quote to force the other party to make a decision withi

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