Definition - What does Nominal Quote mean?
Nominal quote is a quote given for informational purposes only. A trader who identifies a quote as being nominal cannot be held to trading at the prices that were clearly identified as being nominal.
Testopedia explains Nominal Quote
Some issues that are not actively traded such as pink sheet securities or smaller municipal bond issues may not have active secondary markets. As such traders may not know the exact terms and conditions at which a trade could be executed. If a contra dealer inquires about the market for such a security the dealer receiving the quote request may respond with a nominal quote. The dealer is providing the quote for informational purposes and can not be held to the prices in the quote.