NO.PZ2015122801000006
问题如下：
Queeney is trading by buying for or selling from her own inventory to provide liquidity in the market. Which of the following limit order she placed would most likely to make a new market?
选项：
A.
a limit buy order below the best bid
B.
a buy order with a limit price between the best bid and the best ask
C.
a limit sell order at the best bid
解释：
B is correct.
Making a new market can be described that the limit price of a order is between the best bid and the best ask.
A is behind the market
C is take the market
B是正确的
首先本题考察的是dealer的定义及一系列指令的含义。
Queeney以自有存货为市场提供流动性，母的不是投机，不是无风险套利，所以是一个dealer。而make a new market 的定义就是报一个高于最高买价的买价，或是低于最低卖价的卖价，从而使得市场上的spread缩小。
本题只有B符合该定义。
A报出的价格低于最高买价，对于当前的spread没有影响。
C报出的卖出价和最佳买价匹配了，那该笔交易就会成交，此时，市场上的spread只可能不变或是进一步扩大，不会减小。
这类题，怎么区分新的参与者是dealer还是trader？
