Review Topics
Practice Exams
Buffalo can run up to 55 kilometers per hour. That's almost 35 mph, for our non-metric friends.


Firm Ones

When quotes work out a lot and eat light, they get firm. Like Olivia sings, "Let's get fiscal, fiscal…" (Sorry.)

A firm quote is the price at which a market maker will buy 100 shares at that moment of the security in question. If the market maker delivers a quote "firm", it means that they will buy at least 100 shares at their firm quote price. There's no negotiation here.

After a firm quote is given, it is legal for the buyer to ask for a better price—counteroffer—but if the buyer s...

Looking for more? Why is this annoying box in the way? It's because you haven't paid for the course yet!

Next: How the Markets Work (Technical Stuff)  
  Prev: Order Types and Execution