A day order is entered to buy 500 LMN at 24.35. By the close, the firm has 100 shares at 24.25 and 200 at 24.35. If the remainder is unfilled, what is the outcome?
A) The customer may reject the incomplete order unless the broker/dealer can guarantee filling the remainder by the end of the day.
B) The customer may reject the incomplete order unless the remainder can be filled within 3 business days.
C) The customer may demand that the firm deliver the remaining shares at 24.35.
D) The customer must accept the execution for 300 shares, and the remainder of the order is canceled after the close.
Answer: D) The customer must accept the execution for 300 shares, and the remainder of the order is canceled after the close.