A definite price on a round-lot bid or offer declared by a market maker on a given security and not identified as a nominal quotation (therefore is not negotiable).
When a buyer or seller requests a firm quote, the dealer provides a bid and ask quote that can be immediately executed if the buyer or seller wishes. See Indicative Quote.
A quote provided by a dealer that obligates the market maker to trade a minimum of 100 shares (one round lot) based on the information provided. See: Backing Away.