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PT Ch18 - Exam Name MULTIPLE CHOICE Choose the one...

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Exam Name___________________________________ MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Trading in stocks listed on the NYSE is conducted as a ________ at a designated physical location on the trading floor, called a ________, with brokers representing their customers' buy and sell orders. 1) A) decentralized discontinuous auction market; seat B) centralized continuous auction market; post C) centralized continuous auction market; seat D) decentralized discontinuous auction market; post 2) In a ________, sometimes called a period call, orders from customers are batched together for a simultaneous trade at a specific point in time. 2) 3) Which of the below statements is FALSE? 3) 4) The construct of the Nasdaq as a dealer system has made it ________ for ECNs and others to conduct the trades directly and report them to the exchange. 4) 5) The SuperDot system ________. 5) A) routes NYSE - listed stock orders electronically directly to a specialist on the exchange trading floor, rather than through a broker. B) is used for small market orders, limit orders, and basket (or portfolio) trades and program trades. C) can be used for under 100,000 shares with priority given to orders of 2,100 shares or less. D) All of these 6) The types of changes in the U.S. stock exchanges include ________. 6) A) the trading mechanisms of the exchanges and consolidation domestically. B) consolidation internationally and the trading mechanisms of the broker - dealers. C) consolidation among different types of assets, for example, securities options and futures . D) the market structures of the exchanges and decline of the off - exchange markets. 7) A fundamental difference between U.S. and international exchanges involves ________. 7) 1
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