If Several Banks Hit a Broker Simultaneously for an Amount

question 458

Multiple Choice

If several banks hit a broker simultaneously for an amount greater than the amount for which the price was shown:

• A) no transaction is done
• B) the broker has to honor each and every amount hit
• C) the broker has to split the amount among the banks on a pro rata basis
• D) the broker may freely choose the bank(s) he will deal with