If several banks hit a broker simultaneously for an amount greater than the amount for which the price was shown:
A) no transaction is done
B) the broker has to honor each and every amount hit
C) the broker has to split the amount among the banks on a pro rata basis
D) the broker may freely choose the bank(s) he will deal with

Question

Quizplus · Accepted Answer

The broker typically has to split the amount among the banks on a pro rata basis to ensure fairness and maintain market integrity.

If Several Banks Hit a Broker Simultaneously for an Amount