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Consider a European electronic crossing network that runs six crosses daily, that is , the orders are matched six times a day. This network allows
Consider a European electronic crossing network that runs six crosses daily, that is the orders are matched six times a day. This network allows a participant to specify several con straints, such as price and minimum fill. Suppose that all the orders submitted to this net work for the shares of Christian Dior are good for day GFD; that is any unfulfilled part of an order is automatically resubmitted to subsequent crossing sessions duing the day. a The following orders are on the network for the shares of Christian Dior at the time of the first crossing session of the day. The most recent trading price of Christian Dior at the Paris Bourse is Participant A: a market order to buy shares Participant B: a market order to sell shares Participant C: a market order to sell shares, with a minimum fill of shares Participant D: an order to buy shares at Discuss what trades would take place on the crossing network and what orders would remain unfulfilled.b The following new orders are submitted to the next crossing session. The most recent trading price of Christian Dior at the Paris Bourse is Participant E: a market order to buy shares Participant F: A market order to sell sharesDiscuss what trades would take place on the crossing network in this crossing session and what orders would remain unfulfilled.
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