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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ONLINE is access to a computer for immediate processing without having to wait for a batch of transactions to be processed at a later time.

RCLD see REPRODUCTION COST LESS DEPRECIATION.

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