Workable Indication


DEFINITION of 'Workable Indication'

A nominal quote in the municipal bond market at which price a dealer is willing to either buy or sell a particular issue. This differs from a firm quote as revisions to the offer are allowed within a specified time period, usually one hour. Municipal bond dealers can also give out 'firm-with-recall' quotes that can be good for roughly the next hour, and then recalled.

BREAKING DOWN 'Workable Indication'

Municipal bonds are usually traded within a secondary or interdealer market and are purchased by banks, bond funds, insurance companies, other institutional investors, individual investors and small businesses.

  1. Dealer Market

    A financial market mechanism wherein multiple dealers post prices ...
  2. Municipal Bond

    A debt security issued by a state, municipality or county to ...
  3. Secondary Market

    A market where investors purchase securities or assets from other ...
  4. Inter-Dealer Broker

    1. A brokerage firm operating in the bond or OTC derivatives ...
  5. Brokerage Company

    A business whose main responsibility is to be an intermediary ...
  6. Futures Market

    An auction market in which participants buy and sell commodity/future ...
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  3. Why would a corporation issue convertible bonds?

    A convertible bond represents a hybrid security that has bond and equity features; this type of bond allows the conversion ... Read Full Answer >>
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