Market versus Quote (MVQ)

Written By
Paul Tracy
Updated November 11, 2020

What is Market versus Quote (MVQ)?

Market versus quote (MVQ) refers to the most recent market price at which a security was either bought or sold with regard to the latest bid and ask prices.

How Does Market versus Quote (MVQ) Work?

MVQ is the difference between the last market price at which a security was bought or sold and the most recent bid and ask prices.

For example, suppose Stock ABC last traded at $50 per share and the current bid/ask prices are $49.50 and $50.50, respectively. The MVQ for Stock ABC is $0.50 because the difference between the market price and both the bid and ask prices is $0.50.

Why Does Market versus Quote (MVQ) Matter?

A security's MVQ indicates the amount that a broker or market maker takes as a commission for trading a security on a buyer or seller's behalf. Furthermore, a smaller MVQ value suggests that a security is more liquid than one with a higher MVQ.

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