SIE Exam Question 916: Answer and Explanation

Question: 916

Which of the following refers to direct institution-to-institution trading, usually done in blocks, without using the service of broker-dealers?

• A. First market
• B. Second market
• C. Third market
• D. Fourth market

Correct Answer: D

Explanation:

The fourth market refers to direct institution-to-institution trading, usually done in blocks, without using the service of broker-dealers.