On the NYSE, Limit Order Prices Receive Preference in Establishing

question 31

Multiple Choice

On the NYSE, limit order prices receive preference in establishing the posted bid and ask prices if they are more favorable than the specialist's. Therefore

• A)a specialist must fill a limit order, if possible, from his own account before trading the flow of public orders.
• B)specialists must fill a limit order, if possible, from the flow of public orders before trading for his own account.
• C)a specialist must change his posted bid and ask prices to reflect the available limit orders.

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