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Imagine you initially observe the sell portion of an order book as follows Sell Price Size ID 20 1000 1 21 500 2 22 800 3 23 1200 4 An investor placed a buy order
Imagine you initially observe the sell portion of an order book as follows Sell Price Size ID 20 1000 1 21 500 2 22 800 3 23 1200 4 An investor placed a buy order. Immediately after the order execution (assume no other orders have been submitted/executed), the same sell portion of the order book becomes Sell Price Size ID 21 500 2 22 800 3 23 1200 4 What kind(s) of order has this investor possibly submitted? A. A market order. B. A limit order. C. A market-to-limit order. D. A market-with-protection order.
Expert Solution
A market order
The buy order was executed at the price of 20, which is the best available market price. So, the investor would have possibly submitted a market order.
It is not a limit order, because the order got executed at 20. Market to limit order is when the order gets executed at best available market price and the remaining quantity will be resubmitted as a limit order for the previous executed price.
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