You quote spot EUR/USD at 1.3023-26 in 5 to another bank. He says, "Take 5, could do 8". How much are you obliged to do?
A) Nothing, as he changed the terms of the deal
B) EUR 5,000,000.00
C) More than EUR 5,000,000.00, but a maximum of EUR 8,000,000.00
D) EUR 8,000,000.00

Question

Quizplus · Accepted Answer

The phrase "Take 5" indicates an agreement to trade EUR 5,000,000.00 at the quoted rate. The counterparty's suggestion of "could do 8" is a proposal to increase the trade size, but it does not obligate you to trade more than the initially agreed EUR 5,000,000.00.

You Quote Spot EUR/USD at 1