Question

As of December 2005, trading licenses are required to conduct trades on the floor of the NYSE. Which of the following statements about these trading licenses is/are correct?
I. Licenses are auctioned off in a special type of auction called a Dutch auction.
II. The NYSE determines the minimum bid price.
III. The SEC determines the maximum bid price.
IV. Trading licenses are good for 10 years.
A. II and III only
B. I and II only
C. I and III only
D. II and IV only
E. I, II, III, and IV

Answer

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