Requotes happen when there is a price change while a trader is trying to execute a market order with instant execution. Instant execution means that the broker will execute the order at the price requested by the trader, or not at all.
- If there is a price change before the broker can execute the order, the trader will be informed with a requote notification showing the updated price.
- If the trader accepts the new price, the order will be executed at that price (but if the price changes again, another requote will be sent).
- If the trader rejects the new price or takes no action, the requote disappears after 3 seconds, and the order is cancelled.