NO.PZ2018062002000027
问题如下：
The market in PZ company stock is "$5.80 bid, offered at $5.90". Tim places a sell limit order at $5.80. Which of the following statements is correct?
选项：
A.
This limit order is said to take the market.
B.
This limit order is said to make the market.
C.
This limit order is said tomake a new market.
解释：
A is correct.
Tim's order is at $5.80, which is at the current best bid. The order will immediately execute, therefore, this order is said to take the market.
考点：Execution Instructions
目前市场dealer对PZ公司的报价为$5.80 bid, offered at $5.90。TIM希望以5.8的价格卖出股票。问下列哪个说法是最正确的。
A. TIM 的报价可以成交。take the market就是以报出的指令价格成交。打比比方sell order价格正好等于best bid，立即成交了，这就是take the market。现在TIM报的卖价5.8正好等于dealer的最高买价5.8，因此该订单可以马上成交。
B.TIM 的报价可以看作是一次做市。make the market指如若买价报在best bid或卖价报在 best ask,就是一次做市。本题的best bid和 best ask分别为5.80和5.90，而TIM报的卖价是5.8没有落在best ask，所以这不叫make the market。
C.TIM 的报价可以看作是做了一个新市。make a new market, 它是指报价报在最高的bid和最低ask之间就叫做make a new market。根据dealer的买卖报价，make a new market的范围是（5.80-5.90）也就是best bid-best ask，所以不是make a new market.
。谢谢谢谢。。。。。
