Suppose that orders arrive at the market in the following timed sequence, after the best-bid-offer (BBO) has been set at 49.98
50.02:

11:01.01 DMM bids 50.00 for 1,000 shares, setting the best bid 11:01.20 Floor broker bids 50.00 for 600 shares 11.01.40 Bid at 50.00 for 1,500 shares is placed in the Electronic Book 11:02.00 Bid at 50.00 for 1,000 shares is placed in the Electronic Book 11:02.10 Offer to sell 2,000 shares at market is placed in the Electronic Book

a. How would these orders be allocated for execution based on price/time priority?

b. How would these orders be allocated for execution on the NYSE?