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扑扑扑 · 2020年08月22日

问一道题:NO.PZ2018062002000033

问题如下:

Suppose there is an order-driven system that can hide orders, here are four sell orders for the same stock, currently in the system's limit order book. In accordance with the usual common order precedence hierarchy, which of the following orders will have trading precedence?

选项:

A.

Order I (time of arrival of 10:02:01).

B.

Order II (time of arrival of 10:02:08).

C.

Order III (time of arrival of 10:03:04).

解释:

Order III (time of arrival of 10:03:04) has precedence in this transaction. According to the priority of the transaction,first to follow the principle of price priority.In accordance with this principle,sell order II, III, and IV get precedence over order I. The second principle is display priority at a given price, orders III and IV have priority of order transaction because order II is a hidden order. The third principle is time priority at the same price and display status,order III takes precedence over order IV in the transaction.

请问这题表格里为什么是limit price呀?我感觉跟limit没啥关系呀,只是seller的报价呀

1 个答案

maggie_品职助教 · 2020年08月23日

嗨,努力学习的PZer你好:


订单簿的列出的报价肯定都是限价报价啊,如果是market order那不一报出去就成交了? 你可以看下咱们讲义或是原版书这个部分所有给出的这种价格的表格都是限价报价,这里没有陷阱,也不影响解题。

 


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虽然现在很辛苦,但努力过的感觉真的很好,加油!