Question: Question 2 (10 points) Ticker IBS is traded on the Pacific, Gulf and Atlantic stock Exchanges. The sequence of bids in the consolidated record

Question 2 (10 points) Ticker IBS is traded on the Pacific, Gulf and Atlantic stock Exchanges. The sequence of bids in the consolidated record is: 10:00:01 10:00:02 10:00:03 10:00:04 10:00:05 10:00:06 10:00:07 10:00:08 Time Exchange Atlantic Pacific Gulf Pacific Gulf Pacific: Atlantic Gulf Bid 23.33 23.32 23.34 23.40 23.45 23.44 23.43 23.40 Assume that each bid on every exchange is for 100 shares. At 10:00:04, the Gulf exchange receives a limit sell order for 200 shares at 23.30. Will the order be executed? If so, identify the exchanges that are involved in the execution of the order.

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