2. The limit order book for a security is as follows:
|
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:
? Market order to sell 300 shares
? Limit order to buy 100 shares at 25.38
? 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?