A market is locked if the bid = ask price. This can occur, for example, if the market is brokered and brokerage is paid by one side only, the initiator of the transaction. Refers to over-the-counter trading. Highly competitive market environment with inside bid and offering at the same price. Often occurs when an O.T.C. dealer has not updated his market.
LOCKED MARKET
Meaning of LOCKED MARKET in English
Campbell R. Harvey. Hypertextual finance English glossary. Английский словарь гипертекстовых финансов. 2012