Two-way market
Two-way market means a market where there are independent bona fide offers to buy and sell so that a price reasonably related to the last sales price or current bona fide competitive bid and offer quotations can be determined within one day and settled at that price within a relatively short time frame conforming to trade custom.
Source
12 CFR § 324.202
Scoping language
Terms set forth in 324.2 and used in this subpart have the definitions assigned thereto in 324.2.