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tongmopwt · 2019年11月01日

问一道题:NO.PZ2018062002000035

问题如下:

The following limit order standing in the stock’s order book:

Suppose Carl submitted a day order with a limit price of $ 20.87 and sold 1,000 shares, and no more investor submits a buy order after he submitted the order. What is the average price for Carl’s transaction?

选项:

A.

$21.70.

B.

$21.28.

C.

$21.05.

解释:

Carl’s average trade price is:

21.28=300×21.89+400×21.02+200×20.88300+400+20021.28=\frac{300\times21.89+400\times21.02+200\times20.88}{300+400+200}

Carl's order will be filled with the most aggressively priced buy order firstly, which is Fiona’s order for 300 shares at $21.89. Carl still remaining 700 shares did not sell. Philip’s order for 400 shares at $21.02 is the second aggressively priced buy order, after the order was filled Carl still have 300 shares to sell. Debbie’s order for 200 shares at $20.88 is the third aggressively priced buy order, he still has 100 shares to sell after the third order takes place. Liam’s order for 1,000 shares at $20.70 is the next buy order, but the price of this order is lower than Carl's required limit price, therefore, no more transactions can be carried out.

这个人出价低于买方报价,不是make a new market吗? 买方不是应该以他的价格成交吗?

2 个答案
已采纳答案

maggie_品职助教 · 2019年11月02日

1、报价在高于买价,低于卖价时才叫make a new market

2、他现在的卖价低于买价说明交易可以被执行,但是具体的成交价需要根据市场的报价及成交量计算(这道题就是在计算这个成交价)。

3、他的报价是以不能低于20.87的价格卖出,所以一切高于这个价格的买单都可以满足。卖价并不是就等于20.87。价高者优先买到。

Serena · 2020年03月11日

答案没怎么看懂,可以解释下么?

maggie_品职助教 · 2020年03月12日

carl的报价是以不能低于20.87的价格卖出1000股,因此我们就看表格中当前bid报价就可以,四个报价中20.7低于20.87所以不满足报价,其它三个都高于20.87。所以carl最后只卖出的900股,它的平均卖价就是上面解析中计算的。

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NO.PZ2018062002000035 问题如下 The following limit orr stanng in the stock’s orr book:Suppose Carl submittea y orr with a limit priof $ 20.87 ansol1,000 shares, anno more investor submits a buy orr after he submittethe orr. Whis the average prifor Carl’s transaction? A.$21.70. B.$21.28. C.$21.05. Carl’s average tra priis:21.28=300×21.89+400×21.02+200×20.88300+400+20021.28=\frac{300\times21.89+400\times21.02+200\times20.88}{300+400+200}21.28=300+400+200300×21.89+400×21.02+200×20.88​Carl's orr will fillewith the most aggressively pricebuy orr firstly, whiis Fiona’s orr for 300 shares $21.89. Carl still remaining 700 shares not sell. Philip’s orr for 400 shares $21.02 is the seconaggressively pricebuy orr, after the orr wfilleCarl still have 300 shares to sell. bbie’s orr for 200 shares $20.88 is the thiraggressively pricebuy orr, he still h100 shares to sell after the thirorr takes place. Liam’s orr for 1,000 shares $20.70 is the next buy orr, but the priof this orr is lower thCarl's requirelimit price, therefore, no more transactions ccarrieout.考点Instructions Of Transaction Processes这道题表格中给了市场上买方和卖方愿意出的价格和需求量,问如果C同学想要以不低于20.87的价格卖出1000股,那么它的平均成交价格是多少。这道题是从卖股票的角度考虑,那么你就要看看当前市场上有多少人想买,只有买价大于20.87的部分才能成交,从表格可以看出只有bbie\Philips\Fiona出的买价高于20.87,因此C同学只能卖出900股。那么总共卖出的交易价格就等于\(21.28=\frac{300\times21.89+400\times21.02+200\times20.88}{300+400+200}\) 如果买方仍然是300share@21.89, 400share@21.02,现在investor下了一个500share@20.87的all or nothing buy orr。那么订单会在21.89执行300+在21.02执行200;还是会因为在21.89的买单不够500share,而导致无效无法成交?

2024-05-21 20:40 1 · 回答

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