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In the financial markets, a quote is the price at which a security is trading, has recently traded, or both. For example, a stock quote may list the highest bid, lowest ask, and most recent transaction price. A stock quote can be either real-time or delayed. In the US, a delayed quote is available for free, but it reflects the market 15-20 minutes ago, depending upon the exchange. A quote may also report the size of the last trade, or specify the quantity that is associated with a bid or ask price. The quote is sometimes called a quotation. In commerce, a merchant may quote a series of prices for varies quantities. The quote of a lower unit price for a larger quantity is known as a quantity discount.

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