NO.PZ202110280100000104
问题如下:
The implementation shortfall, in basis points (bps), for the sell order of West Commerce shares is closest to:
选项:
A.139. B.198. C.206.解释:
Execution cost = [(–6,000 × 26.80) + (–3,000 × 26.30)] – (–9,000 × 27.10) = 4,200.
Opportunity cost = [–10,000 – (–9,000)] × (26.00 – 27.10) = 1,100.
Fees = 9,000 × 0.03 = 270.
So, the implementation shortfall ($) is calculated as
Implementation shortfall ($) = 4,200 + 1,100 + 270 = 5,570.
Finally, the implementation shortfall (bps) is calculated as
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