Locked Market
A short-term situation occurring within a market where both the bid and ask are identical, resulting in no bid-ask spread.

Investopedia Says:
This usually occurs in stocks that are highly volatile and experience a significant trading volume. Locked markets are typically corrected immediately through subsequent trades. This abnormal market condition occurs mainly on the Nasdaq exchange for orders entered before the opening bell.

Related Terms:
Ask
Bid
Bid-Ask Spread
Crossed Market
Daily Trading Limit
Nasdaq
Spread

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