Requote

A requote happens when a broker can't fill an order at the requested price — usually because the market moved in the split second between order submission and execution — and instead offers a new, current price for the trader to accept or reject. Requotes are most common with dealing-desk or market-maker brokers during fast-moving or illiquid conditions. ECN and STP brokers that use slippage instead of requoting will typically fill the order at the next available price rather than asking for confirmation, which is faster but means the fill price isn't guaranteed either.