FIRM QUOTATION Definition

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FIRM QUOTATION is the requirement that a Market Maker execute an order from another broker/dealer at its displayed price for the normal unit of trading, or for its displayed size, whichever is greater.

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ORIGINAL FACE is the the face value (original principal amount) of a security, generally a mortgage- or asset­-backed security, as of its issue date.

BROUGHT FORWARD is the recognition of a value that was determined in the past, e.g. an accumulated balance brought forward at the start of a new accounting period.

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