1. Consider the following set of orders for the VOD stock: Trader Price Time 10:00 10:05 10:08 10:09 10:10 10:15 10:18 10:20 10:30 ABC DEF GHI JKL MNO PQR STU VWX YZ Order Side Size Sell Buy Buy Sell Buy Sell Sell Buy Sell 4 3 5 5 7 7564 5 6 4 20 21 20 22 18 Market 19 Market 21 Assume that the above orders are sent to a single-price call
1. Consider the following set of orders for the VOD stock: Trader Price Time 10:00 10:05 10:08 10:09 10:10 10:15 10:18 10:20 10:30 ABC DEF GHI JKL MNO PQR STU VWX YZ Order Side Size Sell Buy Buy Sell Buy Sell Sell Buy Sell 4 3 5 5 7 7564 5 6 4 20 21 20 22 18 Market 19 Market 21 Assume that the above orders are sent to a single-price call
Chapter14: Investing In Stocks And Bonds
Section14.4: Buying And Selling Stocks
Problem 2CC
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Transcribed Image Text:1.
Consider the following set of orders for the VOD stock:
Time
Trader
Order Side
Size
Price
Sell
Buy
Buy
Sell
Buy
Sll
Sell
10:00
АВС
DEF
GHI
JKL
MNO
PQR
STU
VWX
YZ
4
10:05
10:08
10:09
10:10
10:15
10:18
10:20
10:30
20
21
20
22
18
Market
19
Market
21
7
Buy
Sll
6.
Assume that the above orders are sent to a single-price call
auction.
Consider sending the same set of orders to a
continuous two-sided auction, Apply price-time
priority and the discriminatory pricing rule
and list the first 3 trades. Compute the
trading surplus for these 3 trades. Compare
and contrast single-price auctions and
continuous two-sided auctions.
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