1) real time quotation is quoted on the last trading price. There is a pre-opening reference price at 9:50 but real trading starts 10:00 am. The last price is quoted approximately 15 seconds before closing.
2) supposedly this is a buyer's order hitting on the bid side. If buyer wants to buy ten lots but the seller only has nine, then the trade will be completed with nine lots and the remaining lot will be the highest bid. It will not automatically take the next lot because it is a limit order.
Hope it helps and feel free to ask me follow up questions.
2007-04-06 13:24:08 補充:
on 2) Actually suppose this is a buyer's order hitting the ASK side.