The highest bid price (bid) and lowest offer price (ask) that is currently available, and displayed, on a tradable asset (a security, commodity, etc.)

For example, a quotation on a share of stock (issued by XYZ) might be determined at the time of request as “15 to 15.3”, implying that the best bid price (i.e., the highest price to be paid by buyers at the time) is currently $15, while the best ask (i.e., the lowest price to be accepted by sellers at the time) stands currently at $15.3.

Quotations are typically available on round-lot basis (round-lot transactions)- which, for stocks, consists of 100 shares in the lot.

It is also known as a quote.