Quoted Spread definition

Quoted Spread means the difference between (a) the Lock-In Rate we quote you based on the current Wholesale Rate at the time of your Lock-In request and (b) the Wholesale Rate as of the otherwise applicable Pricing Date. The Quoted Spread will vary, depending on the volatility of the Foreign Currency being exchanged, but will typically be greater than 0.75% and will usually be less than 1%.
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