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The bid sides of the book at three exchanges are: price Exchange A Shares Displayed 100 200 400 Shares hidden 800 700 100 Exchange

The bid sides of the book at three exchanges are: price Exchange A Shares Displayed 100 200 400 Shares hidden 800 700 100 Exchange B Shares Displayed Shares: hidden 2000 200 Exchange C Shares hidden Shares Displayed 10.49 100 10.48 200 10.47 500 10.46 700 10.45 200 For each exchange, what are the protected bids. Please provide the prices and quantities. 200 1000 2000 400

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