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Exhibit 9 is shown above You click around and realize that your favorite web-site actually provides a snapshot of the limit order book for GOOG

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Exhibit 9 is shown aboveimage text in transcribedimage text in transcribed

You click around and realize that your favorite web-site actually provides a snapshot of the limit order book for GOOG on EDGA (one venue). This is what it looks like a little later that same day: Bats Book Viewer The Bats Book Viewer shows the top buy (bids) and sell (asks) orders for any stock trading on the Bats Exchanges. The Book Viewer shows real-time current bids/asks for a company's stock, the last 10 trades, number of orders accepted, and total volume traded on the relevant Bats exchange. The Book Viewer shows data for each of the Bats Exchanges - BZX, BYX, EDGX, and EDGA - and you can toggle between thern in the upper left-hand corner of the tool. [Please refer back to Exhibit in Question 9] Suppose you want to consume all the liquidity available and sell additional shares beyond the 100 in Question 12, how many shares can you sell? [Please refer back to Exhibit in Question 9] How much would you get in dollars (omit $ sign!) for the shares you sold in Question 13 above? You click around and realize that your favorite web-site actually provides a snapshot of the limit order book for GOOG on EDGA (one venue). This is what it looks like a little later that same day: Bats Book Viewer The Bats Book Viewer shows the top buy (bids) and sell (asks) orders for any stock trading on the Bats Exchanges. The Book Viewer shows real-time current bids/asks for a company's stock, the last 10 trades, number of orders accepted, and total volume traded on the relevant Bats exchange. The Book Viewer shows data for each of the Bats Exchanges - BZX, BYX, EDGX, and EDGA - and you can toggle between thern in the upper left-hand corner of the tool. [Please refer back to Exhibit in Question 9] Suppose you want to consume all the liquidity available and sell additional shares beyond the 100 in Question 12, how many shares can you sell? [Please refer back to Exhibit in Question 9] How much would you get in dollars (omit $ sign!) for the shares you sold in Question 13 above

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