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.
TRADE DATE, in securities, is the actual date on which a trade is initiated or executed.
FX ACCOUNT (Foreign Exchange Account) is a trading account usually based in foreign currencies.
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