Quotations distributed or published by a dealer to represent bona fide bids or offers of municipal securities, based upon the dealer’s best judgment of the fair market value of the securities, and prohibits misrepresentation of another dealer’s quotations. This pertains to Municipal Bonds (MSRB) and not options

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MSRB Rule G 13 requires that

Quotations published by a dealer should not represent the fair market value of the securities

Quotations published by a dealer must represent bona fide bids or offers

Quotations distributed by a dealer must not reflect another dealer's quotations accurately

Options market makers must provide the bid and ask depth (level 2 depth) for all listed securities at all times