You quote a price to a broker. It is hit by another bank, but you are not informed until some time afterward that the deal has been done. Who is to blame?
A) You are, as it is your responsibility to check periodically that the price has not been dealt upon.
B) The broker is, as he must immediately tell you that your price has been dealt upon.
C) The other bank is, since it did not immediately seek confirmation.
D) All the parties, particularly you and the other bank.

Question

Quizplus · Accepted Answer

The broker has a responsibility to immediately inform their client if their quoted price has been hit by another bank. Therefore, the broker is to blame for not providing prompt notification.

You Quote a Price to a Broker