Prueba esto:
DECLARE @test TABLE(ID INT, XmlCol XML)
INSERT INTO @test VALUES(1, '<doc>
<quote>
<code>AA</code>
</quote>
<quote>
<code>BB</code>
</quote>
<quote>
<code>CC</code>
</quote>
</doc>')
INSERT INTO @test VALUES(2, '<doc>
<quote>
<code>BB</code>
</quote>
<quote>
<code>AA</code>
</quote>
<quote>
<code>CC</code>
</quote>
</doc>')
SELECT
ID,
X.Doc.value('(quote/code)[1]', 'varchar(20)') AS 'Code1',
X.Doc.value('(quote/code)[2]', 'varchar(20)') AS 'Code2',
X.Doc.value('(quote/code)[3]', 'varchar(20)') AS 'Code3'
FROM @test
CROSS APPLY xmlcol.nodes('doc') AS X(Doc)
Te da una salida de:
ID Code1 Code2 Code3
1 AA BB CC
2 BB AA CC