Indicative Quote

Indicative FDR quote: "We have nothing to fear but fear itself." Indicative congressman quote: "Oops, I think I spilled Yoo-hoo on my tie."

But we're talking finance here. In finance, it's a quote (meaning a price) that a market maker throws out there to get an idea of the level of interest in the market. Kind of like a guidepost.

The indicative quote contrasts with a firm quote, which is an actual amount at which the market maker is willing to make a transaction. The indicative quote isn't meant to complete a transaction.

It's like when you nervously say to the person you have a crush on, "Maybe you and I could go out some time," but then immediately start to blush and yell out, "Just kidding!" You don't expect them to say, "Actually, yeah, that sounds nice," but you're still watching their face to see if they seem like they'd respond well to a more sincere attempt.