Series 65: Locked And Crossed Quotes

Taken from our Series 65 Online Guide

Locked and Crossed Quotes

A locked quote is when a market maker either enters a bid that is the same price as the best ask price or enters an ask price that is the same as the best bid price. For instance, if the inside market is 20.25 â€“ 20.35 and a market maker were to try to enter an offer of 20.25, this would be considered a locked quote, because it is

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