nominal quote

n.
The approximate price of a security when there is no firm bid or asking price. Also called subject quote.

A quote generated by a futures exchange or broker for contracts that have not traded for a specific period of time.

Also referred to as a "nominal quote" or "nominal price".

Investopedia Says:
This figure is calculated differently by each exchange or broker. Typically, it will be some average between the bid and asking prices, and it is necessary for determining margin positions.

Related Links:
For those who are new to futures but want a solid understanding of them, this tutorial explains what futures contracts are, how they work and why investors use them. Futures Fundamentals

Bid and offer prices given by a market maker for the purpose of valuation, not as an invitation to trade. Securities industry rules require that nominal quotations be specifically identified as such; usually this is done by prefixing the quote with the letters FYI (for Your Information) or FVO (for valuation only).