Definition of Fictitious Quote

Fictitious Quote is a quote which is not representative of an actual bid or offer for a security.

Applying "Fictitious Quote" to Securities Exams:

Fictitious Quotes are entered only for manipulative purposes and are a violation of FINRA and SEC rules. A broker dealer may not enter a quote for a security which is not representative of price at which the dealer is willing to buy or sell a security. Nominal quotes would not be considered to be fictitious quotes as these are clearly identified as being for informational purposes only

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