Q.

Which of the following is not a characteristic of an exchange?

A. It provides liquidity to individuals who acquire securities in the primary market.
B. It requires one to be a member in order to be allowed to trade.
C. Stocks traded on an exchange must meet minimum listing requirements.
D. It allows exchange-listed issues to trade off the exchange floor with the aid of brokers.
Answer» D. It allows exchange-listed issues to trade off the exchange floor with the aid of brokers.
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