55. A trader submits an all-or-nothing, immediate-or-cancel [fill or kill] order to sell 800 shares at €17.35. There are four buy limit orders standing in the stock's order book at the time the order is entered. The order book appears as follows: Limit Buy Orders Limit Sell Orders 300 shares @ €17.35 100 shares @ €17.45 200 shares @ €17.35 400 shares @ €17.48 800 shares @ €17.33 500 shares @ €17.50 200 shares @ €17.31 900 shares @ €17.51 The number of shares of the order that will be executed is closest to: a. 0 b. 200 c. 300 d. 500 e. 800 f. None of the above answers is correct.
55. A trader submits an all-or-nothing, immediate-or-cancel [fill or kill] order to sell 800 shares at €17.35. There are four buy limit orders standing in the stock's order book at the time the order is entered. The order book appears as follows:
Limit Buy Orders Limit Sell Orders
- 300 shares @ €17.35 100 shares @ €17.45
- 200 shares @ €17.35 400 shares @ €17.48
- 800 shares @ €17.33 500 shares @ €17.50
- 200 shares @ €17.31 900 shares @ €17.51
The number of shares of the order that will be executed is closest to:
a. 0
b. 200
c. 300
d. 500
e. 800
f. None of the above answers is correct.
56. Referring to the order book in the previous question, there are two limit orders to buy at €17.35. The 300-share order is listed first because:
a. The 300-share order is larger than the 200-share order and order size has precedent.
b. The trader placing the 300-share limit order to buy agreed to pay a larger commission than the 200-share trader.
c. The trader placing the 300-share limit order to buy agreed to pay a larger commission than the 200-share trader
d. The trader placing the 300-share limit order trades more actively than the 200-share trader.
e. The trader placing the 300-share limit order placed the order before the trader placing the 200-share order.
f. None of the above answers is correct.
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