Bid and asked

Bid and asked refers to the prices at which securities are sold in the over-the-counter market.  The bid price is the highest price at which an investor is willing to buy a security, while the asked price is the lowest price at which the owner is willing to sell. The two prices are grouped together, comprising the quotation for the security. The difference between these two prices is the spread, which is the market maker’s profit. When the spread is quite small, it indicates that there is a significant amount of trading in the security.

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Treasurer's Guidebook