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funds. c) (8 marks) Consider an order-driven system that allows hidden orders. The following four sell orders on Oldonyiro Ltd. shares are currently in the

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funds. c) (8 marks) Consider an order-driven system that allows hidden orders. The following four sell orders on Oldonyiro Ltd. shares are currently in the automated trading system's (ATSs) limit order section. Order Time the order Limit price of Special Instructions was placed the order (Sh.) (if any) 1 9:52:01 am 20.33 11 9:52:08 am 20.29 Hidden order III 9:53.04 am 20.29 IV 9:53.49 am 20.29 Required: Based on the order precedence hierarchy, illustrate the precedence in which the four orders were executed. (6 marks) (Total: 20 marks) funds. c) (8 marks) Consider an order-driven system that allows hidden orders. The following four sell orders on Oldonyiro Ltd. shares are currently in the automated trading system's (ATSs) limit order section. Order Time the order Limit price of Special Instructions was placed the order (Sh.) (if any) 1 9:52:01 am 20.33 11 9:52:08 am 20.29 Hidden order III 9:53.04 am 20.29 IV 9:53.49 am 20.29 Required: Based on the order precedence hierarchy, illustrate the precedence in which the four orders were executed. (6 marks) (Total: 20 marks)

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