easy · Market Microstructure
A trade occurs for 100 shares of Acme Inc. at 50.06. At the moment of execution, the National Best Bid and Offer (NBBO) is 50.00 bid and $50.10 offer.
Using the Lee-Ready quote rule, how should this trade be classified?
- Seller-initiated
- Inconclusive (requires tick test)
- Buyer-initiated
- Neutral/Crossed
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