easy · Market Microstructure
A trader monitors the trade tape and sees a sequence of trade prices: $50.10, $50.00, $50.10, $50.00.
Using the Lee-Ready algorithm, how should a trade occurring at $50.10 following a $50.00 trade be classified if the midpoint is $50.05?
- Seller-initiated
- Inter-dealer trade
- Buyer-initiated
- Unclassifiable
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