# Help for the below question

Hi,

Can someone please help me to understand why the answer for the below question is Order 2, as per my understanding I thought that it would be Order 1 since the order is fully displayed and the other two orders are partially displayed.

Three orders arrive at the exchange with the same price.
Order 1 arrives at 11:01:00, buy 400 shares.
Order 2 arrives at 11:00:00, buy 1000 shares - display 400
Order 3 arrives at 11:00:30, buy 1000 shares - display 600

What’s the question?

May I ask you if there is any missing information? Because you’re right, the order precedence hierarchy is:

• Price
• Display
• Time

As far as I can see, Order 1 has precedence because all orders arrived with the same price.

Three orders arrive at the exchange with the same price.
Order 1 arrives at 11:01:00, buy 400 shares.
Order 2 arrives at 11:00:00, buy 1000 shares - display 400
Order 3 arrives at 11:00:30, buy 1000 shares - display 600

The first order to execute any share would be

1. Order 1
2. Order 2
3. Order 3

Hi Renan,

The complete question is as below:

Three orders arrive at the exchange with the same price.
Order 1 arrives at 11:01:00, buy 400 shares.
Order 2 arrives at 11:00:00, buy 1000 shares - display 400
Order 3 arrives at 11:00:30, buy 1000 shares - display 600

The first order to execute any share would be

1)Order 1
2)Order 2
3)Order 3