medium · Market Microstructure
A stock is traded by three limit sell orders: Order A (500 shares, 10:00:01), Order B (300 shares, 10:00:05), and Order C (200 shares, 10:00:10).
If the exchange uses 'Pro-Rata' matching and a market buy order for 400 shares arrives, how many shares are allocated to Order B?
- 120 shares
- 0 shares
- 133 shares
- 300 shares
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