The market-clearing price is the price-per-share set by the broker dealer at the end of a trading window that matches as many BIDs and ASKs as possible. An ASK signals the minimum price at which an investor will sell his or her shares, and a BID, the maximum price at which a new investor will buy. So, if all BIDs are below all ASKs, there can be no match. The reverse is also true; if all BIDs are above all ASKs then all orders will get filled so long as there are enough shares available.

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