PKMC Module I Practice Questions - Pasaran Kewangan Malaysia Certificate (PKMC) Module I - Regulatory Framework Exam

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According to the ACI Model Code and FMAM Local Addendum, which of the following describes the obligation of a market participant providing a 'firm quote'?

The quote is indicative only and can be adjusted after the counterparty attempts to trade. The quote-provider is obligated to trade at the quoted price up to the specified amount. The quote is only valid if confirmed in writing via email within ten minutes. The quote is binding only if the counterparty agrees to a reciprocal dealing arrangement.

Correct Answer:

The quote-provider is obligated to trade at the quoted price up to the specified amount.

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