Consider the limit order table in problem 4.3 (attached below) from the reading for weeks 3 and 4 (attached with the assignment). Assume that the following two orders arrive in a sequence :

Limit order table in problem 4.3:

	Trader	Sequence	Price	Quantity	Display
	Irina	5	16	1000	y
	Gina	2	15.07	500	y
	Esteban	1	15.07	100	y
	Dmitri	4	15.05	300	n
Sell	Alice	3	15.05	200	y
Buy	Bruce	2	15.03	400	n
	Hans	1	15.01	300	y
	Cho	3	15	200	y
	Frank	4	15	300	n
	Jing	5	14.5	2000	y

a. Kathy: Buy 300, limit 15.05 b. Lane: Buy 600, limit 15.10 What is the resulting limit order book?

Answer:

BUYER	Price	Quantity	Seller	Price	Quantity
Kathy	15.05	300	Gina	15.07	500
Bruce	15.03	400	Irina	17	1,000
Hans	15.01	300
Cho	15	200
Frank	15	300
Jing	14.5	2000

Now reverse the order of the sequence. That is, Lanes order arrives before Kathys. What is the resulting limit order book? Is it the same?