What is the meaning of "under reference" in the terminology of trading?
A) a term the quoting dealer uses to caution the receiver of the quote that the price may have to be re-quoted at the receiver's risk
B) the qualification that the rate quoted in the market may no longer be valid and requires confirmation before any trades can be agreed upon
C) the statement that the rates quoted by the broker are for indication only
D) an acknowledgement by the dealer receiving the quote that the rate may have to be re-quoted at the receiver's risk

Question

Quizplus · Accepted Answer

"Under reference" means that the rate quoted in the market may no longer be valid and requires confirmation before any trades can be agreed upon. This is commonly used in situations where the market has moved quickly and the quoted rate may no longer be accurate. It is a cautionary term to ensure that all parties understand that the quoted rate is subject to change.

What Is the Meaning of "Under Reference" in the Terminology