Series 7 - General Securities Representative Exam
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During normal market hours, a market buy order for a stock that showed a Level 1 quote of $23.22 X $23.29 was filled at $26.65. Upon FINRA review, this may be considered
A two dollar broker fill
A
An outlier fill
B
A rebill
C
A clearly erroneous trade
D
Explanations
a trade with a fill price of 10% or more from the consolidated tape's last sale may be removed from the consolidated tape after FINRA reviews the trade. This is known as a clearly erroneous trade