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jenyasd209 [6]
3 years ago
5

"An NMS stock is current quoted at $16.10 Bid - $16.30 Ask. A customer wishes to place an order to buy 1,000 shares of the stock

at $16.111. The registered representative should:"
Business
1 answer:
slega [8]3 years ago
4 0

Answer:

"An NMS stock is current quoted at $16.10 Bid - $16.30 Ask. A customer wishes to place an order to buy 1,000 shares of the stock at $16.111. The registered representative should:"

buy the 1,000 shares of NMS stock when the price is $16.111 or below.

Explanation:

This order by the customer is a limit order.  It indicates the price at which the registered representative should buy the stock of NMS.  A limit order means that the order can only be filled at the specific price or better (below the limit).  It is not like a stop order which triggers at the specified price and will then be filled at the prevailing market price, whether it is below or above the stated price.

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