LOCKED QUOTATION Definition

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LOCKED QUOTATION is a temporary condition, normally associated with fast-moving, active markets, where the ask price of one Market Maker in a given security is the same or lower than the bid price of another Market Maker, thereby producing locked or crossed quotations, respectively. Trading continues to occur. Also known as a CROSSED QUOTATION.

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MEMOS written records supporting journal entries. Credit memos support credits, while debit memos support debit entries. See Memo Entry.

FSA has several possible meanings, e.g. Flexible Spending Account (employee benefit offered by some companies) or Funding Standard Account.

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