When a market maker or a broker is willing to sell a financial instrument, such as a currency pair, at a certain price, they are said to be “offering” that instrument. Therefore, “trading offered” refers to a situation in which there are sellers (offering) a particular instrument in the market. It is the opposite of “trading bid,” which refers to a situation in which there are buyers (bidding) for a particular instrument. The difference between the highest bid and the lowest offer is called the bid-ask spread, which is a key component of market liquidity.