* 7) Orders for a stock trading system are coded as follows from left to right: 1. The first character is 'B' for a "buy" order, 'S' for a "sell" order 2. The number of shares to buy or sell 3. The stock ticker symbol in all uppercase letters for a "buy" order or all lowercase letters for a "sell" order 4. If the order is a "limit" order with a specific buy/sell price, the requested price in pennies, otherwise the price should be omitted and the order will be a market order at the current asking price for the stock 5. If the order is a "limit" order with an expiration time, the character T followed by the number of minutes until the order expires and should no longer be executed Note that the order code may only contain letters and numbers. It may not include comma, hyphen, etc What would the code be for a limit order to buy 10000 shares of Alcoa stock (ticker symbol: AA) at $9.00 a share but only if the order can be filled within the next 2 hours? Next
* 7) Orders for a stock trading system are coded as follows from left to right: 1. The first character is 'B' for a "buy" order, 'S' for a "sell" order 2. The number of shares to buy or sell 3. The stock ticker symbol in all uppercase letters for a "buy" order or all lowercase letters for a "sell" order 4. If the order is a "limit" order with a specific buy/sell price, the requested price in pennies, otherwise the price should be omitted and the order will be a market order at the current asking price for the stock 5. If the order is a "limit" order with an expiration time, the character T followed by the number of minutes until the order expires and should no longer be executed Note that the order code may only contain letters and numbers. It may not include comma, hyphen, etc What would the code be for a limit order to buy 10000 shares of Alcoa stock (ticker symbol: AA) at $9.00 a share but only if the order can be filled within the next 2 hours? Next
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Transcribed Image Text:*7) Orders for a stock trading system are coded as follows from left to right:
1. The first character is 'B' for a "buy" order, 'S' for a "sel" order
2. The number of shares to buy or sell
3. The stock ticker symbol in all uppercase letters for a "buy" order or all lowercase letters for a "sell" order
4. If the order is a "limit" order with a specific buy/sell price, the requested price in pennies, otherwise the price should be omitted
and the order will be a market order at the current asking price for the stock
5. If the order is a "limit" order with an expiration time, the character T followed by the number of minutes until the order expires
and should no longer be executed
Note that the order code may only contain letters and numbers. It may not include comma, hyphen, etc.
What would the code be for a limit order to buy 10000 shares of Alcoa stock (ticker symbol: AA) at $9.00 a share but
only if the order can be filled within the next 2 hours?
Next
or
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the character T followed by the number of minutes until the order expires - why would you have it as 'B10000AA900120T' rather than 'B10000AA900T120'? please advise
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