A displayed quote representing a bid to buy or offer to sell a specific quantity of a security (or any type of investment, commodity, currency, etc.) at the firm bid and ask prices that is, firmly set, non-cancellable prices. Bona fide quotation represent the price level (known as the quoted price) at which a market maker stands ready to provide liquidity on either side of the market.

A bona fide quotation is typically a definite, non-negotiable price on a round-lot bid or offer quoted by a market maker for a specific quantity- i.e., at least one round lot at the quoted price (e.g., 100 shares of stock), and not identified as a nominal quotation.

It is also referred to as a firm quote.