The state of the book at 10:59am is:

Trader Sequence Price Quantity

Irina 5 15.30 1,000

Gina 2 15.20 500

Esteban 1 15.10 100

Alice 3 15.09 200

Sell Dmitri 4 15.08 300

Buy Bruce 2 15.05 400

Hans 1 15.03 300

Cho 3 15.02 200

Frank 4 15.00 300

Jing 5 14.52 2,000

At 11:00am Peter submits an order: Sell 500 shares, limit 15.05, IOC. What's the best bid and offer (BBO) after Peter's order is submitted? a. The market is 15.05 bid for 400 shares, 300 shares offered at 15.08. b. The market is 15.05 bid for 400 shares, 700 shares offered at 15.08. c. The market is 15.03 bid for 300 shares, 300 shares offered at 15.08. d. None of the above.

The state of the book at 10:59am is:

	Trader	Sequence	Price	Quantity
	Irina	5	15.30	1,000
	Gina	2	15.20	500
	Esteban	1	15.10	100
	Alice	3	15.09	200
Sell	Dmitri	4	15.08	300
Buy	Bruce	2	15.05	400
	Hans	1	15.03	300
	Cho	3	15.02	200
	Frank	4	15.00	300
	Jing	5	14.52	2,000

At 11:00am Peter submits an order: Sell 500 shares, limit 15.05, FOK. What's the best bid and offer (BBO) after Peter's order is submitted?

	a.	The market is 15.05 bid for 400 shares, 300 shares offered at 15.08.
	b.	The market is 15.05 bid for 400 shares, 700 shares offered at 15.08.
	c.	The market is 15.03 bid for 300 shares, 300 shares offered at 15.08.
	d.	None of the above.