Q. Which of the following is not a characteristic of an exchange? (Solved)
1. It requires one to be a member in order to be allowed to trade.
2. It allows securities to be listed on more than one exchange.
3. It provides liquidity to individuals who acquire securities in the primary market.
4. It allows exchange-listed issues to trade off the exchange floor with the aid of brokers.
- d. It allows exchange-listed issues to trade off the exchange floor with the aid of brokers.