Every firm quote is valid for a short, clearly displayed window. This window exists because the desk holds the price risk for you during that time, and it must be short enough to reflect current market conditions.
The countdown
When you receive a quote, a countdown timer shows how long it remains firm. Accept before the timer reaches zero and the price is locked. Let it expire and the quote can no longer be executed at that level.
When a quote expires
An expired quote is simply void, with no cost and no obligation. You request a new quote and the desk reprices against the market at that moment.
- Expired quotes cannot be revived, only replaced
- There is no penalty for letting a quote lapse
- Fresh quotes reflect the latest market level
- In volatile conditions, validity windows may be shorter
If markets are moving quickly and you need certainty for a large transaction, contact your relationship manager. The desk can work with you on timing so you are ready to accept the moment a suitable level appears.