Which condition leads to the order book opening after non-opening?

Which condition leads to the order book opening after non-opening?

• A. There is no longer any market order overhang
• B. A new order or a deletion causes the order book to have a market order overhang
• C. The market closes for the day
• D. All orders are canceled

Answer: (A)

Opening of the order book after a non-opening happens when there is no market order overhang. Market order overhang is the amount of orders that would be executed immediately as market orders at the opening, which could push the price if the book opened now. If such overhang still exists, the system withholds opening to avoid an abrupt, potentially unfair start. Once there is no longer any market order overhang, the book can open and trading begins. The other scenarios either would create or maintain overhang, or are unrelated to the triggering condition for opening.

Opening of the order book after a non-opening happens when there is no market order overhang. Market order overhang is the amount of orders that would be executed immediately as market orders at the opening, which could push the price if the book opened now. If such overhang still exists, the system withholds opening to avoid an abrupt, potentially unfair start. Once there is no longer any market order overhang, the book can open and trading begins. The other scenarios either would create or maintain overhang, or are unrelated to the triggering condition for opening.