medium · Market Microstructure lob
In a call auction, the cumulative demand at 10.10 is 500 shares and cumulative supply is 1,000. At 10.00, demand is 1,000 and supply is 800. At 9.90, demand is 1,000 and supply is 500.
What is the clearing price and how many shares trade?
- $10.10; 500 shares
- $10.00; 800 shares
- $10.00; 1,000 shares
- $9.90; 1,000 shares
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