CIRO Trader Practice Questions - CIRO Trader Exam

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A trader is holding a client limit order to buy 10,000 shares of XYZ at $22.50. The trader wants to buy 5,000 shares of XYZ for the firm's proprietary inventory account. Under the Client Priority Rule, at what price can the trader execute the proprietary trade?

At $22.50 or lower, before the client's order is filled At $22.51 or higher, leaving the client order at $22.50 unfilled At $22.50, provided the profit is shared with the client At $22.49 or lower, as long as the client is notified afterwards

Correct Answer:

At $22.51 or higher, leaving the client order at $22.50 unfilled

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