Requote
A requote is a broker rejecting your requested price and offering a new one instead - a cost of dealing-desk execution.
A requote is a broker refusing your price and offering a new one before filling. It is a cost of dealing-desk execution, especially in fast markets.
A requote happens when a broker declines to fill your order at the price you submitted and offers a new, usually worse, price instead. It is characteristic of dealing-desk brokers that take the other side of trades, especially during fast markets. Requotes are not the same as slippage: slippage fills at a worse price, a requote asks you to accept the new price before filling. Frequent requotes are a reason to consider ECN or STP execution.
How It Works
- Order hits the dealing desk, which can reject the price
- New price offered, usually worse than requested
- More common in news and volatile sessions
Trading Tips
Frequent requotes cost more than any spread difference - check execution reviews
ECN and STP accounts generally fill without requotes
Rejecting a requote means no fill at all, which can leave a position unprotected
Related Terms
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