Inside Quote

Inside quotes are on the inside of exchanges. The best bid and ask prices in a competitive market exchange are the inside quotes.

The “quote” refers to the market price of the assets, and they’re called “inside” quotes because investors can only see them through the exchange trading platforms.

Market makers (investors or firms who make profits off the difference between bids and asks) will be working all day long with inside quotes. They’re looking for the lowest bid and the highest ask to make the most profit. For instance, they could buy an asset from someone who sold it at a low price, and then resell it to the highest ask, keeping the difference: the classic bid-ask spread.

Bid-ask and ye shall receive.