Difference between Indication and Firm Offer/Bid

The CBC Platform uses two concepts to facilitate your trade:

1) Indication: For those who want to get proposals, gauge the markets and analyze prices. By opting to trade in this way:

  • The option “Book Trade” is not available to the other party.
  • There is no deadline.
  • You can alter or withdraw your indication at any time.
  • An “Indication” can be transformed into an “Offer/Bid” for booking at any time during the negotiations between the parties. In other words, even if you start with an indication, either party can send a “Firm Offer/Bid” to show a real interest in booking the trade.

2) Firm Offer-Sell/Firm Bid-Buy: For those who already have all the terms and conditions and want to book the trade. By opting to trade in this way:

  • You can book the trade. If your conditions are accepted, the trade is booked when the other party clicks on “Book Trade” without prior negotiations.
  • A deadline should be stipulated for the validity of this Offer/Bid.
  • Offers and Bids cannot be altered or withdrawn until the deadline has expired.
  • If a direct input on the screen of an Offer/Bid is closed by the other party, the Platform will send a “subject to approval” so that the inputting party can check the seller/buyer and so confirm or reject the trade.

* The Broker/Representative/Licensee profile can only exchange indications and counterindications.  They cannot use the Offer/Bid option.