FIN 360 (FIN 360)

Arizona State University

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LEWIS SECURITIES INC. HAS DECIDED TO ACQUIRE A NEW MARKET DATA AND QUOTATION SYSTEM FOR ITS RICHMOND HOME OFFICE ANSWER

LEWIS SECURITIES INC. HAS DECIDED TO ACQUIRE A NEW MARKET DATA AND QUOTATION SYSTEM FOR ITS RICHMOND HOME OFFICE ANSWER
Exam (elaborations) • 6 pages • 2021

Lewis Securities Inc. has decided to acquire a new market data and quotation system for its Richmond home office. The system receives current market prices and other information from several online data services and then either displays the information on a screen or stores it for later retrieval by the firm’s brokers. The system also permits customers to call up current quotes on terminals in the lobby. The equipment costs $1,000,000 and, if it were purchased, Lewis could obtain a term loa...