QUESTION 10 If 15 seconds after an institutional trader places a limit order to buy 50,000 shares in NAB at $2.45 and there already is an order to buy 50 shares in NAB at $2.45 that had been entered into the market earlier in the day by a retail investor, a seller enters the market to sell 1000 NAB shares at $2.45, the ASX trading system will

Be unable to execute the trades because the volume sold does not match the number of shares wishing to be purchased

Allocate the shares proportionally, so that the retail investor receives an allocation of 1 share while the institution receives an allocation of 999 shares

Allocate the first 50 shares sold to the retail investor that were in the market prior to being joined by the institutional investor, and allocate the remaining 950 shares to the institutional investor

Allocate all 1000 shares to the institutional investor because they placed the larger order