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The limit order book for a security is: Unfilled Limit Orders Buy Orders Sell Orders 25.12 100 25.36 300 25.20 500 25.38 200 25.23 200

  1. The limit order book for a security is:

Unfilled Limit Orders

Buy

Orders

Sell

Orders

25.12

100

25.36

300

25.20

500

25.38

200

25.23

200

25.41

200

The specialist receives the following, in order:

  1. Market order to sell 300 shares
  2. Limit order to buy 100 shares at 25.38
  3. Limit order to buy 500 shares at 25.30

How, if at all, are these orders filled? What does the limit order book look like after these orders?

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