medium · Market Microstructure mmf-core
An institutional trader submits a market buy order for 900 shares of Acme Inc. The current ask side of the limit order book shows 500 shares at $25.10, 300 shares at $25.15, and 200 shares at $25.20.
If the best bid is $25.00 and the mid-quote was previously $25.05, what is the effective spread paid on this trade per share?
- $0.100
- $0.133
- $0.167
- $0.200
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