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Before the arrival of a large order, a firm has the following limit orders standing on its book: Buyer Buy Order Price Sell Order Seller
Before the arrival of a large order, a firm has the following limit orders standing on its book:
Buyer | Buy Order | Price | Sell Order | Seller |
Terence | 15000 | $100.1 |
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Henry | 8000 | $100.2 |
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Shane | 10000 | $100.3 |
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| $100.4 | 4000 | Helen |
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| $100.5 | 6000 | Sabrina |
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| $100.6 | 12000 | Michael |
Buyer Tina submits a market order to buy 15000 units of share. With whom does she trade? What is her average trade price? How does the limit order book look like afterward?
(5 marks)
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