Question
Stock exchange ABC uses price-time precedence (price priority and then time priority) to process orders. On 13 March 2015, at the opening (9:00 am), the
Stock exchange ABC uses price-time precedence (price priority and then time priority) to process orders. On 13 March 2015, at the opening (9:00 am), the limit order book for Share A is empty (no offers) a. 9:02am, John submits a limit buy order for 10 shares at $52, and a limit buy order for 10 shares at $51 b. 9.04am, Jack submits a limit buy order for 50 shares at $50 c. 9.08am, Stephane submits a sell market order of 60 shares d. 9.10am, Caroline submits a limit sell order for 15 shares at $51, a limit buy order for 20 shares at $49 e. 9.15am, David submits a limit sell order for 50 shares at $52, and a limit buy order for 10 shares at $49 f. 9.18am, Adam submits a limit sell order for 20 shares at $50, and a limit buy order for 20 shares at $48 g. 9.20am, Anna submits a limit sell order for 10 shares at $48 h. 9.25am, Paul submit a limit sell order for 10 shares at $49
If the store exchange uses discriminatory pricing rule (continuous two-sided auction), list the all the transactions (buyer, seller, volume, price). After all the transactions, what is the order book look like?
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